Korean Job Discussion Forums

thewhat · Joined: 03 Jun 2005 Location: Seoul suburbs

Is the won going to make a comeback??
Or should I just leave this heap??
Its not worth staying till November feeling like I take a pay cut as the work gets harder.
Where can you find information about future trends like you get in canada/usa? Or even an intelligent person who knows anything??

Real Reality · Joined: 10 Jan 2003 Location: Seoul

Korean policymakers may have heaved a sigh of relief as they have a potential windfall for the slumping economy. It is the greenback's bullish run in overseas markets, driving the Korean won lower.

A dollar surge is considered a windfall for the economy as policymakers and currency dealers had expected the won to remain firm against the dollar in coming years due to U.S. deficits in fiscal and current accounts.

"A weak won is good news for Korea's export-driven economy because it is expected to improve the performance of exporters," Samsung Economic Research Institute Jeong Woung-sik told The Korea Times.

"We believe that the dollar will trade sideways over the next few months, but expect the dollar to resume its long-term downtrend into the year-end as the U.S. cyclical advantage against the euro area and Japan peaks and China takes its first step toward more currency flexibility," Citigroup economist Oh Suk-tae said.

Strong Dollar: Potential Windfall for Economy
By Kim Jae-kyoung, Korea Times (July 10, 2005)
http://times.hankooki.com/lpage/200507/kt2005071018225310230.htm

Weakening won, oil prices magnify inflationary pressure
http://www.koreaherald.co.kr/SITE/data/html_dir/2005/07/11/200507110002.asp

Businesses See Korea In for Long Recession
Seven out of 10 Korean CEOs see the Korean economy on the brink of or embroiled in a long recession, according to a survey, going way beyond the mere "fears" of a depression the government and some think tanks have diagnosed.
Chosun Ilbo (July 10, 2005)
http://english.chosun.com/w21data/html/news/200507/200507100027.html

Samsung Economic Research Institute
http://www.koreaeconomy.org/
http://www.seriworld.org/

Koscom
http://english.koscom.co.kr/main/

Badmojo · Posted: Mon Jul 11, 2005 4:33 am Post subject:

I don't know where it's going, but I've been watching it and just recently, that SOB has started moving in the wrong direction in a hurry. For a time in Dec 03 the rate was 0.001068 Cdn, and those were dark days. You don't want that my friend. I'd change what you got now just to be safe. I think it's in the 0.001160's now, not bad, but not great, sort of in the middle.