Comments on: Korean Won Biggest Loser to the US Dollar http://rokdrop.com/2008/10/16/korean-won-biggest-loser-to-the-us-dollar/ Korea From North to South Sat, 26 May 2012 05:36:16 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: value korean won u.s. dollar - Web - WebCrawler http://rokdrop.com/2008/10/16/korean-won-biggest-loser-to-the-us-dollar/comment-page-1/#comment-239847 value korean won u.s. dollar - Web - WebCrawler Fri, 24 Oct 2008 04:36:03 +0000 http://rokdrop.com/?p=9496#comment-239847 <!--%kramer-ref-pre%-->[...] [Found on Google, Windows Live, Yahoo! Search] Korean Won Biggest Loser to the US Dollar Oct 16, 2008 ... Korean Won Biggest Loser to the US Dollar ... turmoil as its currency has lost [...]<!--%kramer-ref-post%--> [...] [Found on Google, Windows Live, Yahoo! Search] Korean Won Biggest Loser to the US Dollar Oct 16, 2008 … Korean Won Biggest Loser to the US Dollar … turmoil as its currency has lost [...]

]]> By: South Korea Officially Receives US Visa Waiver http://rokdrop.com/2008/10/16/korean-won-biggest-loser-to-the-us-dollar/comment-page-1/#comment-237588 South Korea Officially Receives US Visa Waiver Sat, 18 Oct 2008 04:11:52 +0000 http://rokdrop.com/?p=9496#comment-237588 [...] least here is some good news for Korean President Lee Myung-bak who has been swamped with bad news, economically & [...] [...] least here is some good news for Korean President Lee Myung-bak who has been swamped with bad news, economically & [...]

]]> By: USinKorea http://rokdrop.com/2008/10/16/korean-won-biggest-loser-to-the-us-dollar/comment-page-1/#comment-237348 USinKorea Thu, 16 Oct 2008 15:43:19 +0000 http://rokdrop.com/?p=9496#comment-237348 This really does hurt the typical hakwoner - if they are the same as when I left in 2000 ---- recent college grads - mostly people in their early 20s who have more debt than they've had time to build any kind of economic security. What is the typical salary at a hakwon these days? When I arrived in 1996, the won was at about 800 (but going up) and I think my first contract was for 1.0 million a month. When I left the ESL industry, I think the typical contract was for 1.2-1.3 million a month. This was not a lot of money, but with free housing and a lack of typical expenses since you are living in a foreign country - it was enough to pay off credit card debts and pay on student loans back home. In the worst of 1998, the won went above 2,000 and stayed a good bit about 1,500. Even when it started getting back to about 1,200, the salary was cut tremendously. For the people out there now, it perhaps doesn't look as good as in 1999. The bailouts of South Korea and Asian economies steadied things. The US leading the economic drop this time around will likely mean recover will take longer......but economics is my weak point.... This really does hurt the typical hakwoner – if they are the same as when I left in 2000 —- recent college grads – mostly people in their early 20s who have more debt than they've had time to build any kind of economic security.

What is the typical salary at a hakwon these days?

When I arrived in 1996, the won was at about 800 (but going up) and I think my first contract was for 1.0 million a month. When I left the ESL industry, I think the typical contract was for 1.2-1.3 million a month. This was not a lot of money, but with free housing and a lack of typical expenses since you are living in a foreign country – it was enough to pay off credit card debts and pay on student loans back home.

In the worst of 1998, the won went above 2,000 and stayed a good bit about 1,500.

Even when it started getting back to about 1,200, the salary was cut tremendously.

For the people out there now, it perhaps doesn't look as good as in 1999. The bailouts of South Korea and Asian economies steadied things.

The US leading the economic drop this time around will likely mean recover will take longer……but economics is my weak point….

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