Korean Job Discussion Forums

elliemk · Joined: 01 Jul 2007 Location: Sparkling Korea!

When I first started tracking the won against the dollar a month ago, my salary of 2.3 million was about $2,500. Today it is $2,463.

The dollar will continue to get stronger and our U.S. dollars salaries will go down.

What are you doing to prepare?

Ellie

reactionary · Joined: 22 Oct 2006 Location: korreia

depends on if you think it will continue to gain strength. the overall trend over the past few years seems to be going down (relative to the won at least)

elliemk · Joined: 01 Jul 2007 Location: Sparkling Korea!

According to the Economist, the dollar will continue to gain strength and so U.S. dollar salaries will be worth about 1/4 less in four years than they are now!

Thunndarr · Joined: 30 Sep 2003

monkinwonderland · Joined: 17 May 2007

If you plan on staying in Korea for the next four years, the dollar will be the least of your problems. Laughing

elliemk · Joined: 01 Jul 2007 Location: Sparkling Korea!

Interesting reply - 'the dollar will be the least of your problems.'
What exactly do you mean?

jennateacher · Posted: Wed Aug 15, 2007 5:44 pm Post subject:

when I started in October 2000 the rate was 1,200W to the US dollar, now it is around 930. I am happy with the rate.

monkinwonderland · Joined: 17 May 2007

OiGirl · Joined: 23 Jan 2003 Location: Hoke-y-gun

What does it matter in the long run? Either you want to live in Korea or you don't.

elliemk · Joined: 01 Jul 2007 Location: Sparkling Korea!

If I didn't want to live in Korea, I wouldn't be coming there on Monday next week! Just thought I'd see what others are thinking about this topic. Smile

mrsquirrel · Joined: 13 Dec 2006

I'm thinking that who cares about the dollar when the pound is so strong and the Euro is snapping at it's heels. The dollar is dead long live the Euro.

The Euro will be the next dominant currency. It's North Korea's foreign currency of choice now.

Down with the greenback up with the Euro.
Down with the greenback up with the Euro.
Down with the greenback up with the Euro.
Down with the greenback up with the Euro.
Down with the greenback up with the Euro.

pest2 · Joined: 01 Jun 2005 Location: Vancouver, Canada

4 months left · Joined: 07 Feb 2003

Maybe in the short term the dollar will stregthen but the longer term is down. If the U.S. lowers rates in the next few days due to the mortgage problem, that would weaken the dollar unless all Central Banks follow suit, which is a possibility, then it would not have an affect on the dollar.

TheUrbanMyth · Joined: 28 Jan 2003 Location: Retired

The exchange rate doesn't matter..as long as you are not paid in U.S dollars or preparing to go home.

mrsquirrel · Joined: 13 Dec 2006

It's inflation that really matters.

I still find it difficult not to translate things into Baht when I am shopping. The missus does it all the time though and it stops her buying things cause she thinks they are too expensive (not going to argue with that one)