Korean Job Discussion Forums

hack · Joined: 24 Jan 2003

With the rate approaching 900 now, I really am thinking of pulling the pin if it hits 1000 again. If you are a Canadian you have taken a 12% pay cut because of the rate since May 05.
I've been reading what some exchange experts have been saying about the Canuck buck and most think it will continue to go up against the US$ which then means it will go up against the Korean Won.
That's why the poll is for Canucks only because while the US $ has also increased against the won, it hasn't been anywhere near as volatile as the Canuck buck.

Moldy Rutabaga · Joined: 01 Jul 2003 Location: Ansan, Korea

I'm not pleased about the Canadian dollar. If some posters wonder why I rail against Canada so much, it's because I'm convinced some days the country is out to get me-- when I was there, I couldn't buy a job, and when I leave for Korea, the dollar suddenly becomes super-strength. Nevertheless, I still have to stay here and put up with it; it's better than sending out eight applications to Tim Horton's with my wonderful, saleable MA.

On the brighter side, I've noticed that this sort of rise and drop has been periodic in the three years I've been here. Last year the CDN$ topped around 900 in the fall and then swung back to about 820 in the spring. It always seems to get bad around the time Korean kiddies head to Vancouver for summer English camp.

Ken:>

TheUrbanMyth · Joined: 28 Jan 2003 Location: Retired

SuperHero · Joined: 10 Dec 2003 Location: Superhero Hideout

I live on Korean won and fortunately have no bills back in Canada so sending money is of no concern to me. If I ever get around to thinking about leaving Korea then I'll look at the currency exchange.

I haven't looked in over a year.

poker player · Joined: 27 Sep 2004 Location: On the river

TheUrbanMyth · Joined: 28 Jan 2003 Location: Retired

Bulsajo · Joined: 16 Jan 2003

Peaks and troughs. I've seen it at 570, and I've seen it 1800. 570 on a salary of 1.2M was alright, but 1800 on a salary of 1.4M was a killer.

RachaelRoo · Joined: 15 Jul 2005 Location: Anywhere but Ulsan!

Dysupes · Joined: 24 May 2005

Hey guys,

Well I don't think the exchange will be too much of a problem over the long run. At the end of last June I was able to get an 834 rate and that was after an abysmal rate maybe 5-6 months earlier when I got my worst rate of 920-ish. I've only been here the better part of two years but it seems like the exchange rate has a habit of going up and down so I don't know if it's quite the time to freak out just yet... Smile

Just wait (if you can, of course) until the rate is a bit more favourable and then ship a bigger sum back home all in one chunk.

SuperHero · Joined: 10 Dec 2003 Location: Superhero Hideout

hack · Joined: 24 Jan 2003

mindmetoo · Joined: 02 Feb 2004

The Canadian dollar is getting stronger against all world currencies because people are gambling that the oil sands will pay off long term. Canada has oil reserves equal to Saudi Arabia's, although most of it is unprofitable to extract unless oil stays around $50 a bbl for a long time.

Hanson · Joined: 20 Oct 2004

When you consider the crazy taxes in Canada (income tax, PST, GST) as well as free housing in Korea, I think the Canadian dollar could get a lot stronger and I'd still come out ahead. Even as strong as the dollar is, how many of your friends are able to save 1000$-2000$ a month (or more), clean and in the bank (or wherever your money goes)?

Canada's a great place, but with income tax at 30-35% and tax on tax (PST, GST), I just can't see myself saving as much as I am now.

mithridates · Posted: Sun Oct 02, 2005 11:29 am Post subject:

Huh! Are we all lifers?

Bulsajo · Joined: 16 Jan 2003