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Korean Job Discussion Forums
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Gollum
Joined: 04 Sep 2003
Location: Japan
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 Posted: Thu Sep 16, 2004 5:25 pm Post subject: Korean Won Change Might Hurt Teachers a LOT |
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If the Korean won changes, which is currently being proposed (and in my view is inevitable), our salary will suddenly be of less value.
That is my opinion.
Prices on many items will skyrocket. I saw this happen in Germany when the Euro changed, and it would really hurt us here. Virtually everyone selling anything took advantage of the change to up prices by as much as 30 to 40 percent on average.
Knowing Koreans, I can see the same thing happening. You'll no longer pay 600 won for a can of Coca-cola -- you'll pay the equivalent of 1,000. You'll no longer pay 4,000 for that bunch of bananas, you'll pay the equivalent of 6,000, etc.
If they plan on changing the won anytime soon, I really hope we have lots of notice beforehand (like more than a year). If I am still around, it will seriously effect my salary negotiations.
At that time, I wish teachers could have some serious and wide-ranging discussions about what could happen to this as a job.
Everyone on this board should take this issue seriously.
Here is an article about the proposed Won change:
http://www.koreaherald.co.kr/SITE/data/html_dir/2004/09/17/200409170031.asp |
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VanIslander
Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!
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| Posted: Thu Sep 16, 2004 5:39 pm Post subject: |
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| The article wrote: |
| The minister estimated that the whole process of redenomination would take three to five years, but said he was unsure when the process would begin. |
In such a competitive democracy, you can be sure the Uri Party won't pass such a potentially-unpopular bill, which seriously affects "the average Kim", until AFTER the next election in 2006.
That makes this issue seem irrelevant to most of us who aren't lifers. But in politics, Who knows? Anything can happen.
Mod team: please continue discussion already underway here:
[url] http://www.eslcafe.com/forums/korea/viewtopic.php?t=26485. [/url] |
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