Wednesday, October 08, 2008

Korean Won Plunges, Language Teacher Storms Out of Classroom

The Korean won continued it's precipitous plunge today, leaving the beleaguered currency at around 1400 to the dollar, a 35% drop since January. Jared Schmidt, a Canadian kindergarten teacher at a Seoul language school threatened to 'pull a runner' unless the situation turned around soon.
"Dude, this is bullshit. If you think I'm gonna chase a bunch of little rugrats around this place for kimchee and a few bucks, you're out of your mind."
Local traders were pessimistic about the won's outlook, stating that "the won has certainly not won the current round, nor will it be likely to have won anytime in the near future."
Jared was checking the currency rate on his mobile phone during a phonics lesson when he noticed the new 10 year lows.
I just had the phone out to use the dictionary to look up "diarrhea" in Korean, because one of the kids was insisting on using the bathroom and kept saying this word that I thought might be that, when I noticed the rate. I was so pissed that I just walked out. I'm seriously gonna dump this job unless this gets better soon. I mean, I could go to Taiwan or something. I hear they're always looking for kindy teachers, and I really like the bubble tea they have over there.
In related news, a sharp drop in Cambodian and Vietnamese bride buying by single Korean men has been reported, as the women of those countries are increasingly unwilling to go to a country with a weaker currency than their own.


Andy said...

Haha, very onionesque. The Taiwan Dollar is experiencing a steady drop, too, though so your friend Jared should do a bit more research.

PJ said...

This is hilarious. But, seriously, what are you gonna do?

Seth said...

I mentioned your comment about the Taiwan dollar to Jared, and he pointed me to the chart at this link:

Andy said...

31 percent! That's terrible. I guess that is much worse than the Taiwan Dollar -- we've gone from NT$30 per US$1 to NT$32.5 per US$1. It hurts a little but I suppose nothing like Korea has experienced.