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The Almighty U.S. Dollar.
« on: September 28, 2022, 12:59:51 pm »
When was the last time the USD passed the euro in value? And it's rapidly honing in on the GBP.

Any services charged in USD are particularly painful to purchase now.


  • L I
  • Waygook Lord

    • 7956

    • October 03, 2011, 01:50:58 pm
Re: The Almighty U.S. Dollar.
« Reply #1 on: September 28, 2022, 02:08:40 pm »
1,000 won is 69 cents.

1,440 won is one dollar.



  • gogators!
  • Waygook Lord

    • 6325

    • March 16, 2016, 04:35:48 pm
    • Seoul
Re: The Almighty U.S. Dollar.
« Reply #2 on: September 28, 2022, 10:39:40 pm »
Once upon a time I knew a fellow teaching In Korea who was paid in dollars. This was because he taught at a college in a very small town back when the only McDonald's in Korea was in Seoul. Man was he making out until the locals looking over his shoulder at the bank started complaining about it and they started paying him in won.


Re: The Almighty U.S. Dollar.
« Reply #3 on: September 29, 2022, 12:22:00 pm »
Most teachers used to be paid in $$ pre-IMF.  When the won dropped to something like 1800 (if memory serves), the hagwons refused to pay in dollars.  Teachers left in droves because they were unable to pay bills back home.  Midnight runs were so commonplace that most of the people on planes out of here were English teachers.  My friend got his first uni job with just a BA because so many people left.


  • hangook77
  • Waygook Lord

    • 5572

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The Almighty U.S. Dollar.
« Reply #4 on: September 30, 2022, 08:23:20 am »
Maybe the lemmings will stop coming over for low pay?   :P
745sticky, Augustiner, Bakeacake, D.L.Orean, Lazio, Mithras, Renma, Rye are still blocked and I can't see them.


  • 745sticky
  • The Legend

    • 2353

    • March 26, 2020, 01:52:57 pm
    • Korea
Re: The Almighty U.S. Dollar.
« Reply #5 on: September 30, 2022, 08:27:25 am »
i see hangook has discovered the emoji feature. this is unfortunate news


  • 745sticky
  • The Legend

    • 2353

    • March 26, 2020, 01:52:57 pm
    • Korea
Re: The Almighty U.S. Dollar.
« Reply #6 on: September 30, 2022, 08:27:53 am »
is he trying to be more hip with the kids so he can better equip them against the dangers of korea?


  • Augustiner
  • Expert Waygook

    • 614

    • December 06, 2021, 01:18:06 pm
    • Anyang
Re: The Almighty U.S. Dollar.
« Reply #7 on: September 30, 2022, 08:34:55 am »
i see hangook has discovered the emoji feature. this is unfortunate news

Could be worse.  Do you recall when that old poster CO2 clued him into how to make memes?  That was pretty painful.  He was not good at it.  They made some of his word lotto lesson plans look sophisticated. 


  • 745sticky
  • The Legend

    • 2353

    • March 26, 2020, 01:52:57 pm
    • Korea
Re: The Almighty U.S. Dollar.
« Reply #8 on: September 30, 2022, 09:02:59 am »
Do you recall when that old poster CO2 clued him into how to make memes? 

yes, and i strongly wish he had not done that  >:(


  • gogators!
  • Waygook Lord

    • 6325

    • March 16, 2016, 04:35:48 pm
    • Seoul
Re: The Almighty U.S. Dollar.
« Reply #9 on: September 30, 2022, 08:45:17 pm »
Most teachers used to be paid in $$ pre-IMF.  When the won dropped to something like 1800 (if memory serves), the hagwons refused to pay in dollars.  Teachers left in droves because they were unable to pay bills back home.  Midnight runs were so commonplace that most of the people on planes out of here were English teachers.  My friend got his first uni job with just a BA because so many people left.
I was in Suwon and no one I knew was paid in dollars. People who I met later who worked in Seoul had not been paid in dollars. So while some were paid in dollars, I wonder about saying most were. And yes, when the won cratered, droves left.


  • Augustiner
  • Expert Waygook

    • 614

    • December 06, 2021, 01:18:06 pm
    • Anyang
Re: The Almighty U.S. Dollar.
« Reply #10 on: October 01, 2022, 08:13:16 am »
Most teachers used to be paid in $$ pre-IMF.  When the won dropped to something like 1800 (if memory serves), the hagwons refused to pay in dollars.  Teachers left in droves because they were unable to pay bills back home.  Midnight runs were so commonplace that most of the people on planes out of here were English teachers.  My friend got his first uni job with just a BA because so many people left.

I did my first year just before the IMF period. Didnít know and never heard of a single ESL teacher that was paid in dollars. There was a big deal made about marquee foreign baseball players being paid in dollars, though. There was at least one guy whose pay in dollars equaled that of the rest of the team almost, because of how much it was costing to pay him in dollars. They wanted him to alter the terms of his contract but he understandably wouldnít. There were a lot of midnight runs but to say most of the passengers on planes out of here were English teachers is obviously horesh*t. Itís not like South Korea came to a screeching halt commerce wise during that period. I think this would be a good opportunity for you to realize that whatever old timer told you those stories likes to exaggerate greatly. Take them with a grain of salt. Seriously, most of the outgoing passengers on planes were ESL teachers fleeing? 


  • VanIslander
  • Moderator LVL 1

    • 4007

    • June 02, 2011, 10:12:19 am
    • South Gyeongsang province for 13 years (with a 7-year Jeju interlude)
    more
Re: The Almighty U.S. Dollar.
« Reply #11 on: October 01, 2022, 08:37:54 am »
I can believe it.

I was paid 2.0 mill Korean in cash in hand (literally a brick) every month for my first 3 years here. No paperwork. No medical insurance. A student dropped their desk and it broke my toe? Zip to hospital, x-rays, wraps, back to finish that day's classes (a pub high chair brought in the next day to prop up the waygook).

When I worked for more than half a decade on Jeju (the hagwons there have their own rules), I found myself with a base salary of 2.45 mill for 30 hours weekly, but that 9pm-10pm some weekdays and 3 hour elite 9am-noon Saturday class putting my salary over 3 mill for over 5 years, making it hard to blow my salary. Unlike today, i often could not go a month through my paycheque, at least, not months without trips to Busan or Seoul. These days,... a weekend in a big city, and the basics bought, puts the monthly budget in order.

Whatever. Teaching remains as enjoyable as ever. :)
« Last Edit: October 01, 2022, 08:39:32 am by VanIslander »
Life's to live! Live! Breathe. Relax. Enjoy. Animals teach us to focus on family, friends and avoid danger. Get what you need and get along with others. That said, some rock the boat, but they know capsizin' it means they're sunk. Some sink, let's swim! The sea's big, great, but has undercurrents.


  • Augustiner
  • Expert Waygook

    • 614

    • December 06, 2021, 01:18:06 pm
    • Anyang
Re: The Almighty U.S. Dollar.
« Reply #12 on: October 01, 2022, 08:59:27 am »
I can believe it.

I was paid 2.0 mill Korean in cash in hand (literally a brick) every month for my first 3 years here. No paperwork. No medical insurance. A student dropped their desk and it broke my toe? Zip to hospital, x-rays, wraps, back to finish that day's classes (a pub high chair brought in the next day to prop up the waygook).

When I worked for more than half a decade on Jeju (the hagwons there have their own rules), I found myself with a base salary of 2.45 mill for 30 hours weekly, but that 9pm-10pm some weekdays and 3 hour elite 9am-noon Saturday class putting my salary over 3 mill for over 5 years, making it hard to blow my salary. Unlike today, i often could not go a month through my paycheque, at least, not months without trips to Busan or Seoul. These days,... a weekend in a big city, and the basics bought, puts the monthly budget in order.

Whatever. Teaching remains as enjoyable as ever. :)

What in Godís name are you addressing?  Nothing you wrote about in any way at all addresses the claims made above. I also got paid in a brick of won. I also broke a toe in class and went to the hospital for an x-ray and confirmed it was just a broken toe and went back to work. What job is going to send you home with a broken toe?  It was my big toe and it hurt, but it was in no way debilitating.  I canít even imagine telling that story, but youíve brought it up multiple times here.  Do you even concern yourself at all with your posts being germane to the discussion at hand, or is any post an invitation to share oft repeated and unrelated events from your own life? 


  • VanIslander
  • Moderator LVL 1

    • 4007

    • June 02, 2011, 10:12:19 am
    • South Gyeongsang province for 13 years (with a 7-year Jeju interlude)
    more
Re: The Almighty U.S. Dollar.
« Reply #13 on: October 01, 2022, 05:04:32 pm »
... I also broke a toe in class and went to the hospital for an x-ray and confirmed it was just a broken toe and went back to work. What job is going to send you home with a broken toe?
Seriously, where are you from? "You have a broken bone in your foot. Go back and finish your work shift." Really? Not in Canada.

I prefaced my original comments by talking about "NO MEDICAL INSURANCE".

Watch NBC, CBS & ABC and there are plenty of reports of the high costs of basic medical care, of expensive medical insurance, of people with broken bones turned away from hospitals. America has got it wrong about basic medical care (they allow just as much as can't be sued, not a stitch more).


« Last Edit: October 01, 2022, 05:16:15 pm by VanIslander »
Life's to live! Live! Breathe. Relax. Enjoy. Animals teach us to focus on family, friends and avoid danger. Get what you need and get along with others. That said, some rock the boat, but they know capsizin' it means they're sunk. Some sink, let's swim! The sea's big, great, but has undercurrents.


  • Augustiner
  • Expert Waygook

    • 614

    • December 06, 2021, 01:18:06 pm
    • Anyang
Re: The Almighty U.S. Dollar.
« Reply #14 on: October 01, 2022, 09:13:54 pm »
Seriously, where are you from? "You have a broken bone in your foot. Go back and finish your work shift." Really? Not in Canada.

I prefaced my original comments by talking about "NO MEDICAL INSURANCE".

Watch NBC, CBS & ABC and there are plenty of reports of the high costs of basic medical care, of expensive medical insurance, of people with broken bones turned away from hospitals. America has got it wrong about basic medical care (they allow just as much as can't be sued, not a stitch more).

You canít be serious?  In Canada you would expect a broken toe to get you sent home from a job where you could sit?  Stop trying to milk this having to work with a broken toe story for sympathy. I bet you got crutches and played it up. Probably a lot of eye rolling from your coworkers that day. 


  • gogators!
  • Waygook Lord

    • 6325

    • March 16, 2016, 04:35:48 pm
    • Seoul
Re: The Almighty U.S. Dollar.
« Reply #15 on: October 02, 2022, 12:41:50 am »
I can believe it.

I was paid 2.0 mill Korean in cash in hand (literally a brick) every month for my first 3 years here. No paperwork. No medical insurance. A student dropped their desk and it broke my toe? Zip to hospital, x-rays, wraps, back to finish that day's classes (a pub high chair brought in the next day to prop up the waygook).


Sounds like SOP for a hagwon.


  • T_Rex
  • Super Waygook

    • 327

    • April 23, 2019, 08:10:20 am
Re: The Almighty U.S. Dollar.
« Reply #16 on: October 02, 2022, 08:43:56 pm »
The US dollar will likely remain strong in years to come. That's not because the US is doing great economically but because it's doing better than the other major economies of the world.

One clear advantage the US has is demographics. The working age population is still increasing in the US (though the increase has slowed down in recent years). China, Japan, and the EU are all experiencing a decrease in their working age population.

"When the working age population growth flips negative an economy is basically doomed." (@7:30)
https://www.youtube.com/watch?v=BnDjNpjRuAQ&t=440s
« Last Edit: October 02, 2022, 08:45:41 pm by T_Rex »


  • VanIslander
  • Moderator LVL 1

    • 4007

    • June 02, 2011, 10:12:19 am
    • South Gyeongsang province for 13 years (with a 7-year Jeju interlude)
    more
Re: The Almighty U.S. Dollar.
« Reply #17 on: October 02, 2022, 10:27:59 pm »
In 2002, i didn't realize/ bat an eye, at the lack of deductions. I was a newbie in Asia and took the 2.0 mill brick of cash for three years before going in 2006 to a 2.6 mill job in little ol' Hadong for three more years with deductions galore! (Tax, health insurance, gas at my duplex). Whatever. I went to the Pohang International Fireworks Festival when there. It was awesome! Funds from those years sent me to Guam for a new year's celebration, 9 days in all!
« Last Edit: October 02, 2022, 10:32:30 pm by VanIslander »
Life's to live! Live! Breathe. Relax. Enjoy. Animals teach us to focus on family, friends and avoid danger. Get what you need and get along with others. That said, some rock the boat, but they know capsizin' it means they're sunk. Some sink, let's swim! The sea's big, great, but has undercurrents.


Re: The Almighty U.S. Dollar.
« Reply #18 on: October 02, 2022, 10:45:52 pm »
In 2002, i didn't realize/ bat an eye, at the lack of deductions. I was a newbie in Asia and took the 2.0 mill brick of cash for three years before going in 2006 to a 2.6 mill job in little ol' Hadong for three more years with deductions galore! (Tax, health insurance, gas at my duplex). Whatever. I went to the Pohang International Fireworks Festival when there. It was awesome! Funds from those years sent me to Guam for a new year's celebration, 9 days in all!

Epic.
Beyond Inappropriate


  • hangook77
  • Waygook Lord

    • 5572

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The Almighty U.S. Dollar.
« Reply #19 on: October 04, 2022, 10:11:05 am »
Epic.

2 million won 20 years ago was a darn good salary.  Kind of like being in China now.  (Korea had a cheaper living cost back then.)
745sticky, Augustiner, Bakeacake, D.L.Orean, Lazio, Mithras, Renma, Rye are still blocked and I can't see them.