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  • hangook77
  • Hero of Waygookistan

    • 1490

    • September 14, 2017, 09:10:12 am
    • Near Busan
Exchange rate bad for Americans right now.
« on: March 18, 2020, 08:45:50 pm »
The exchange rate is bad for Americans.  When I first got here they would get 2100 bucks for 2 million won.  With the much higher cost of living now, is it worth it for them to be here now? 


  • L I
  • The Legend

    • 4241

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: Exchange rate bad for Americans right now.
« Reply #1 on: March 18, 2020, 09:02:09 pm »
OMG!

I checked the rate.

1,000 is 79 cents!

2.0 mil is $1,586, which is $19,032 a year.

2.1 mil is $1,665, which is $19,980 a year.


  • NorthStar
  • Hero of Waygookistan

    • 1113

    • July 05, 2017, 10:54:06 am
    • Mouseville
Re: Exchange rate bad for Americans right now.
« Reply #2 on: March 18, 2020, 09:08:05 pm »
...it all is a one big suck whole.

Wages (especially now) staying the same and/or decreasing....
Over-inflated nationalism (for what?  riding on the shoulders of others all through history?)
The DUMBEST women I have ever met (granted, I am sure there are more that are worse off...perhaps Thai women)
Worst music (besides Tejano and Citar)

Best kids I have taught, though....thus far.


  • L I
  • The Legend

    • 4241

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: Exchange rate bad for Americans right now.
« Reply #3 on: March 18, 2020, 09:19:39 pm »
Median pay by age for American men with a Bachelor's degree:

22: $50,700
25: $55,000
30: $65,800
35: $75,100
40: $82,900
45: $88,600
50: $92,500
55: $94,700


  • L I
  • The Legend

    • 4241

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: Exchange rate bad for Americans right now.
« Reply #4 on: March 18, 2020, 09:27:57 pm »
...it all is a one big suck whole.

Wages (especially now) staying the same and/or decreasing....
Yes.
Over-inflated nationalism (for what?  riding on the shoulders of others all through history?)
Yes.
The DUMBEST women I have ever met (granted, I am sure there are more that are worse off...perhaps Thai women)
Really? I've met some very intelligent Korean women. They are smarter than the global average overall in my experience. Really knowledgable from all that studying.
Worst music (besides Tejano and Citar)
Strongly disagree. Kpop is amazing. It sounds wonderful.
Best kids I have taught, though....thus far.
I've met so many bad and rude and unmotivated students. Depends on where though. Varies greatly place to place.





  • NorthStar
  • Hero of Waygookistan

    • 1113

    • July 05, 2017, 10:54:06 am
    • Mouseville
Re: Exchange rate bad for Americans right now.
« Reply #5 on: March 19, 2020, 11:34:09 am »
1,285 won to $1...as of now. 


  • L I
  • The Legend

    • 4241

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: Exchange rate bad for Americans right now.
« Reply #6 on: March 19, 2020, 02:14:19 pm »
"This KRW/USD Chart lets you see this pair's currency rate history for up to 10 years!"

https://www.xe.com/currencycharts/?from=KRW&to=USD&view=10Y

In the ten year period - as far back as the graph goes - this is the weakest the won has ever been.

The end of the graph - now - looks like it's going straight down almost.

1,000 won is 77 cents.


  • T.J.
  • Veteran

    • 186

    • June 09, 2011, 11:07:16 am
    • 서울 은평구 연신내
Re: Exchange rate bad for Americans right now.
« Reply #7 on: March 19, 2020, 03:26:22 pm »
It's been worse.

https://tradingeconomics.com/south-korea/currency

This too shall pass.

« Last Edit: March 19, 2020, 03:40:26 pm by T.J. »
"An ignorant person is one who doesn't know what you have just found out."

"Diplomacy is the art of saying 'Nice doggie' until you can find a rock."

-Will Rogers


  • Lazio
  • Super Waygook

    • 263

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: Exchange rate bad for Americans right now.
« Reply #8 on: March 19, 2020, 10:09:14 pm »
S. Korea, US sign $60 billion currency swap deal

https://www.koreatimes.co.kr/www/biz/2020/03/367_286502.html


  • hangook77
  • Hero of Waygookistan

    • 1490

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Exchange rate bad for Americans right now.
« Reply #9 on: March 20, 2020, 08:32:23 am »
"This KRW/USD Chart lets you see this pair's currency rate history for up to 10 years!"

https://www.xe.com/currencycharts/?from=KRW&to=USD&view=10Y

In the ten year period - as far back as the graph goes - this is the weakest the won has ever been.

The end of the graph - now - looks like it's going straight down almost.

1,000 won is 77 cents.

Too bad it doesn't go back further, you'd be miffed to see what it was before 2008.  2 million won got Americans over 2100 bucks instead just over 1500 bucks.  (And you could send more won home due to a much cheaper cost of living here.)  Aussies and Canadians are partly protected due to a better exchange rate.


  • hangook77
  • Hero of Waygookistan

    • 1490

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Exchange rate bad for Americans right now.
« Reply #10 on: March 20, 2020, 08:34:27 am »
I guess Corona will force teachers to stay here and not hop over to China or Vietnam for the next little while.  But once this dies out, open floodgates. 

I honestly don't even know how a young American would even be able to pay off their student loans on this. 


  • Colburnnn
  • Super Waygook

    • 345

    • August 10, 2015, 05:52:37 pm
    • South Korea
Re: Exchange rate bad for Americans right now.
« Reply #11 on: March 20, 2020, 09:17:51 am »
Transferred a load this morning. Best it's been in a while for Brits.


  • L I
  • The Legend

    • 4241

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: Exchange rate bad for Americans right now.
« Reply #12 on: March 20, 2020, 10:09:58 am »
The British Pound is tanking against the American Dollar.

Even more so than the Korean Won.

So good exchange rate for you thanks to the weakness of the British Pound.

Even weaker than the Korean Won.

But why?

I'm surprised.


  • T.J.
  • Veteran

    • 186

    • June 09, 2011, 11:07:16 am
    • 서울 은평구 연신내
Re: Exchange rate bad for Americans right now.
« Reply #13 on: March 20, 2020, 11:07:54 am »
Too bad it doesn't go back further, you'd be miffed to see what it was before 2008.

https://tradingeconomics.com/south-korea/currency

This will take you back 25 years. Those were the days.
"An ignorant person is one who doesn't know what you have just found out."

"Diplomacy is the art of saying 'Nice doggie' until you can find a rock."

-Will Rogers


  • stoat
  • Expert Waygook

    • 844

    • March 05, 2019, 06:36:13 pm
    • seoul
Re: Exchange rate bad for Americans right now.
« Reply #14 on: March 20, 2020, 11:17:06 am »
Transferred a load this morning. Best it's been in a while for Brits.

 Yes, i remember when a pound was 2100 won in the bad old days


  • Colburnnn
  • Super Waygook

    • 345

    • August 10, 2015, 05:52:37 pm
    • South Korea
Re: Exchange rate bad for Americans right now.
« Reply #15 on: March 20, 2020, 11:18:23 am »
TF Happened on the 1st December 1997?


  • L I
  • The Legend

    • 4241

    • October 03, 2011, 01:50:58 pm
    • Seoul