Comments on: Korean Won Rises to 1552 to the US Dollar http://rokdrop.com/2009/03/05/korean-won-rises-to-1552-to-the-us-dollar/ Korea From North to South Fri, 10 Feb 2012 19:13:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: usinkorea http://rokdrop.com/2009/03/05/korean-won-rises-to-1552-to-the-us-dollar/comment-page-1/#comment-288713 usinkorea Fri, 06 Mar 2009 16:11:27 +0000 http://rokdrop.com/?p=11743#comment-288713 One reason to put in such a clause would be to try to attract (or keep) quality teachers....but the hakwon industry doesn't give a crap about quality to begin with.... My wife and I were discussing going to Korea for a year if I could find an adequate teaching gig in a college. We'd like to have 1 or 2 kids in the next few years, and we could save much more in Korea --- if the exchange rate weren't tanking.... Considering how much you can make per hour doing privates, it might still be worth it --- but we definitely have to consider the exchange rate problem if this downturn in the global economy continues.... One reason to put in such a clause would be to try to attract (or keep) quality teachers….but the hakwon industry doesn't give a crap about quality to begin with….

My wife and I were discussing going to Korea for a year if I could find an adequate teaching gig in a college. We'd like to have 1 or 2 kids in the next few years, and we could save much more in Korea — if the exchange rate weren't tanking…. Considering how much you can make per hour doing privates, it might still be worth it — but we definitely have to consider the exchange rate problem if this downturn in the global economy continues….

]]> By: The Clam http://rokdrop.com/2009/03/05/korean-won-rises-to-1552-to-the-us-dollar/comment-page-1/#comment-288382 The Clam Thu, 05 Mar 2009 15:24:39 +0000 http://rokdrop.com/?p=11743#comment-288382 That's true, but a clause will not be added. That's true, but a clause will not be added.

]]> By: Tom http://rokdrop.com/2009/03/05/korean-won-rises-to-1552-to-the-us-dollar/comment-page-1/#comment-288250 Tom Thu, 05 Mar 2009 09:55:05 +0000 http://rokdrop.com/?p=11743#comment-288250 ^ I predict the number of English teachers will increase due to all the unemployed people in the West heading on over. Even with low pay with possibility of getting better in the near future when the Won recovers, it's far better than no pay and being on welfare. ^ I predict the number of English teachers will increase due to all the unemployed people in the West heading on over. Even with low pay with possibility of getting better in the near future when the Won recovers, it's far better than no pay and being on welfare.

]]> By: The Clam http://rokdrop.com/2009/03/05/korean-won-rises-to-1552-to-the-us-dollar/comment-page-1/#comment-288177 The Clam Thu, 05 Mar 2009 07:07:26 +0000 http://rokdrop.com/?p=11743#comment-288177 "Any English teaching contract should include a clause regarding won changes." Brian's got a post on this as well. Why would Korea put a clause in there? The ESL industry already sucks enough money from Korean citizens and this would only make it worse. I get paid in won and it's unfortunate that some people are getting screwed by the exchange, but it's not Korea's problem. Why should Korea pay extra for people who have to pay loans/debt at home? If I was looking to start teaching abroad and needed to send cash home, I would not come to Korea. It's simple. "Any English teaching contract should include a clause regarding won changes."

Brian's got a post on this as well. Why would Korea put a clause in there? The ESL industry already sucks enough money from Korean citizens and this would only make it worse.

I get paid in won and it's unfortunate that some people are getting screwed by the exchange, but it's not Korea's problem. Why should Korea pay extra for people who have to pay loans/debt at home?

If I was looking to start teaching abroad and needed to send cash home, I would not come to Korea. It's simple.

]]> By: Pete http://rokdrop.com/2009/03/05/korean-won-rises-to-1552-to-the-us-dollar/comment-page-1/#comment-288162 Pete Thu, 05 Mar 2009 06:18:26 +0000 http://rokdrop.com/?p=11743#comment-288162 Sounds like now is the time to buy won. But one never knows - could go up to around 2000 if the world economy keeps tanking. May be a way to recover some of the losses in the US stock market. 1997 was worse, but never know what will happen in the future. Any English teaching contract should include a clause regarding won changes - but most probably don't. Sounds like now is the time to buy won. But one never knows – could go up to around 2000 if the world economy keeps tanking. May be a way to recover some of the losses in the US stock market. 1997 was worse, but never know what will happen in the future. Any English teaching contract should include a clause regarding won changes – but most probably don't.

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