Read 1175 times

  • Lazio
  • Expert Waygook

    • 505

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: Price Inflation: Here and/or back home
« Reply #20 on: March 22, 2021, 08:48:30 am »
Better not complain about the rising cost of living.  You're bound to trigger a few folks on here.  Same pay, but everything's way more expensive.  They'll come on and argue non stop with you. 

It seems that you are the one getting triggered all the time and argue non-stop.
Others are just tired of reading the same stuff from you for the 500th time. You are then told that we know where you are standing and there is no need to post about it for the 501st time. You take this as an argument for low wages and go on with 10 more posts with basically the same content. In fact, that is what's about to follow here. I apologize to everyone for triggering hangkook...
« Last Edit: March 22, 2021, 08:57:38 am by Lazio »


  • tylerthegloob
  • The Legend

    • 2149

    • September 28, 2016, 10:46:24 am
    • Busan
    more
Re: Price Inflation: Here and/or back home
« Reply #21 on: March 22, 2021, 10:48:32 am »
i forgive you lazio. anyway thanks for trying
more gg more skill


  • pkjh
  • The Legend

    • 2028

    • May 02, 2012, 02:59:44 pm
    • Asia
Re: Price Inflation: Here and/or back home
« Reply #22 on: March 22, 2021, 11:27:19 am »
Really?  I knew some folks who started around 2003 and said they were in the 2.1 to 2.3 million range.  You sure your range wasn't mid to late 90's or something?  (Then again I did rural public school and started at 1.9 3 to 4 years later than them ,lower than some hakwon buddies at the same time and went to 2.1 the next year.) 
Might have been 1.6, for sure it was in that 1.4-1.6 range. I know for sure it was well under 2.1 though.


  • Mr C
  • The Legend

    • 2529

    • October 17, 2012, 03:00:40 pm
    • Seoul
Re: Price Inflation: Here and/or back home
« Reply #23 on: March 22, 2021, 11:37:16 am »
A $0.35 soda in a box of 24 can at a supermarket can sell for $2.50 at a convenience store.

Inflation will raise the first price quickly because margins are thin, but the convenience store can hold the price on the second.

Convenience stores use a combination off “loss leaders” (often regular buy items like milk and eggs) and high-margin impulse or convenience items.

The high-margin makes pricing highly variable... i.e. not related to anything. :)



But this is only true for the low-traffic items.  The convenience surcharge of not having to go to the big box store for, say, fabric softener when you just realized you are out.

High sales  items like soft drinks and beer, candy, and in Korea ramen cups, sell at nearly the same price you get in the big mart for a single item (not in bulk, obviously).

Prices in convenience stores are entirely logical.  If they try to charge too much for the fabric softener, people just won't buy it--so either price comes down or it's removed from the shelves and replaced with something that will sell.  Mark-up is  related to turnover, with the exception of POS impulse items, which is why they take up that most valuable real estate, while fabric softener is on a bottom shelf toward the back.


  • VanIslander
  • Moderator LVL 1

    • 2341

    • June 02, 2011, 10:12:19 am
    • Seogwipo, Jeju Island
    more
Re: Price Inflation: Here and/or back home
« Reply #24 on: March 22, 2021, 12:10:31 pm »
I believe I started at around 1.5 million won way back. However, wages have not kept up with inflation.
Actually, when I came in 2002 over 90% of the many jobs on Dave's ESL Cafe were for 2.0 mill. Some, not many, for 1.8.


  • L I
  • Waygook Lord

    • 5837

    • October 03, 2011, 01:50:58 pm
Re: Price Inflation: Here and/or back home
« Reply #25 on: March 22, 2021, 12:14:40 pm »
I know for sure it was well under 2.1 though.

How many hours per day and what was the exchange rate? (And what year was this?) Folks I talked to said hagwon jobs used to be four hours a day. (Well, some at least.)


  • hangook77
  • The Legend

    • 2868

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Price Inflation: Here and/or back home
« Reply #26 on: March 22, 2021, 12:44:32 pm »
It seems that you are the one getting triggered all the time and argue non-stop.
Others are just tired of reading the same stuff from you for the 500th time. You are then told that we know where you are standing and there is no need to post about it for the 501st time. You take this as an argument for low wages and go on with 10 more posts with basically the same content. In fact, that is what's about to follow here. I apologize to everyone for triggering hangkook...

Yep, like I said, triggered.  He we go.


  • hangook77
  • The Legend

    • 2868

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Price Inflation: Here and/or back home
« Reply #27 on: March 22, 2021, 12:46:34 pm »
How many hours per day and what was the exchange rate? (And what year was this?) Folks I talked to said hagwon jobs used to be four hours a day. (Well, some at least.)

I was offered a 2.1 million for 4 hours a day hakwon in Gyeonggi area in 2006 but opted to do a rural public school instead for 1.9 starting.  (Good thing I did make that choice.) 


  • pkjh
  • The Legend

    • 2028

    • May 02, 2012, 02:59:44 pm
    • Asia
Re: Price Inflation: Here and/or back home
« Reply #28 on: March 22, 2021, 03:34:35 pm »
How many hours per day and what was the exchange rate? (And what year was this?) Folks I talked to said hagwon jobs used to be four hours a day. (Well, some at least.)
I think it was 1.6 million when I started in 2004, public school rural area with epik 22 hours a week (if they had enough hours usually around 19 or 20 though). So, was at school from 8:30-ish to 4:30-ish. Every year they bumped me up 100,000/month until I hit the max. I think the max then was 2.4.

The max has barely increased, I think it's like 2.7 now. The housing supplement is the same though in the provinces. It was 400k back then, and still is 400k. If they at least increase that to say 800k would be better.
« Last Edit: March 22, 2021, 03:37:14 pm by pkjh »


  • JNM
  • The Legend

    • 4748

    • January 19, 2015, 10:16:48 am
    • Cairo, Egypt (formerly Seoul)
Re: Price Inflation: Here and/or back home
« Reply #29 on: March 22, 2021, 03:49:36 pm »
But this is only true for the low-traffic items.  The convenience surcharge of not having to go to the big box store for, say, fabric softener when you just realized you are out.

High sales  items like soft drinks and beer, candy, and in Korea ramen cups, sell at nearly the same price you get in the big mart for a single item (not in bulk, obviously).

Prices in convenience stores are entirely logical.  If they try to charge too much for the fabric softener, people just won't buy it--so either price comes down or it's removed from the shelves and replaced with something that will sell.  Mark-up is  related to turnover, with the exception of POS impulse items, which is why they take up that most valuable real estate, while fabric softener is on a bottom shelf toward the back.

I agree it is logical (once you classify the items as you did) but trying to use it to gauge inflation (which is the premise of the discussion) is futile.


  • Mr C
  • The Legend

    • 2529

    • October 17, 2012, 03:00:40 pm
    • Seoul
Re: Price Inflation: Here and/or back home
« Reply #30 on: March 22, 2021, 08:27:10 pm »
I agree it is logical (once you classify the items as you did) but trying to use it to gauge inflation (which is the premise of the discussion) is futile.

Again, I mostly agree with you when it comes to the fabric softener or the peach-flavored Absolut, but like many many people I buy select convenience items everyday at a convenience store.  The inflation of these regular items is a factor in inflation of prices overall.  And certainly my pocketbook.

https://www.statista.com/statistics/308767/sales-of-the-us-convenience-store-industry-by-format/

https://www.statista.com/topics/1660/food-retail/#:~:text=Supermarket%20food%20sales%20hit%20an,of%20341%20billion%20U.S.%20dollars.

So these two pages show that US supermarkets in 2020 had sales of 682 bln and (non-gas) sales of convenience stores was 235 bln (2019).  That's a hefty chunk of the market and shows any reasonable gauge of inflation must include their numbers.