Korean Job Discussion Forums

[Omkara]

Anyone have any information about the trajectory of the won? I'd heard that there is anticipation that we'll be in the 1100's in the near term. . .I was just updated that it will stabilize at 1200 on September or October?

[GoldMember]

Here we go again another person who thinks English Teachers are Foreign Currency Gurus. If I knew I wouldn't be here I'd be in my 200 ft yacht surrounded by a dozen babes cruising the Caribbean, because if I knew, I'd be making a fortune!
While your at it, why don't you ask if anyone on this board has cracked the secret to cold fusion.

[okayden223]

I'm pretty sure the WON is supposed to overtake the dollar as the benchmark international currency next week.

[teacherinseoul]

[Yaya]

The Korean won will depend on the direction of the Korean and global economies. The thing is, Korea posted growth of 2.3 percent in the second quarter, the highest in five years, BUT that was mostly due to massive government injections of funds.

And of course, money is not an infinite resource so experts are saying the second half of the year could see growth of under one percent. The job markets in both Korea and the U.S. are horrendous, and consumption in Korea has inched up barely.

The weak won has also helped Samsung and LG Electronics post record sales, but I wonder what will happen to them if the won gets stronger. Higher fuel prices are also another factor.

[kinerry]

With certainty, the dollar will weaken over the next year and beyond because of the inflation factors of the stimulus plans
Without certainty, we do not know where the won will head

[Trevor]

Let's look at it from another angle. What could cause more downward pressure on the Won in the near future? The bad news is out and everybody is aware of it. They're still selling cell phones and the Korean economy has proved much more resilient than most western countries.

In my opinion, there is more upside than downside to the currency in the short-mdedium term. However, there is definitely no reason for the won to all of a sudden skyrocket out of nowhere. It is going to trade in this range for another 18 months, at least. i don't see parity with the dollar until at least 2010-11, but we'll get closer.

[stayfocused]

The expert I know says 1100 by early next year. Here's to wishful thinking.

As far as I can tell, this article says the Korean consumer confidence index is at a 7 year high. But I'll trust that as far as I can throw 명박이.

http://news.naver.com/main/read.nhn?mode=LPOD&mid=tvh&oid=055&aid=0000163866

[peter07]