
On the street in Hyehwa
My sleeping schedule is messed up. I'm not getting to sleep now until about 10am or later... often to be woken up by a wrong number around noon. Thankfully, it's not been a tough week since my middle school classes are on a two-week exam prep regimen. I'm only teaching elementary classes and "pre"-middle school classes. I even lucked out yesterday and had a class cancelled while the students went off to tests. My total teaching hours this week amounted to 17 classes worth. Not bad. It's the weekend now and today I finally got caught up on my sleep.
Today's also another special day of sorts. Yeji and I are celebrating our 1000th day. I suppose most Korean couples would be married by now, so I haven't really heard much about such an event. Boyfriends and girlfriends celebrate things such as 100th day and 500th day, as opposed to year anniversaries of dating. The present situation was a bit reversed as far as traditionally genderized things go. I got jewelry (a ring to replace mine that finally cracked after one-too-many poundings of my fist on students' desks) and she got electronics (an MP3 player which she had been mentioning for a while). The ring is pretty cool. She knows how sensitive I am about giving up styles I like (I am purposefully avoiding words like stubborn, conservative, and anachronistic), so she managed to have a ring crafted to fit my tastes. My old ring was silver with a knotwork band. The new ring is also silver, and has a band of entwined rope carved into a centre band that spins around on an outer ring. It's perfect.
In the news...
The won is skyrocketing. I transferred money last week and took partial advantage of it, but the real increase in the exchange rate came on Monday and has been continuing. It's basically at a 34-month high right now, and it's starting to look a lot like the lead up to the IMF crisis in 1997. I wasn't here for that, but I've heard quite a bit about it, and some of the locals are looking quite panicked. The Korea Herald reports that exports are to be up this year but at the current exchange rate, they could hardly be that much more profitable-- perhaps that's why they quoted the prediction figures in Dollars instead of Won.
One welcome source of foreign investment that has been announced, is that department store giant, Carrefour, is going to invest 250 Million Won next year in new locations and in renovations to old ones. Carrefour is the best of the department stores close to my apartment. It's also where I bought Yeji's MP3 player. As far as affecting my day-to-day life goes, this is pretty good news.
At any rate, the economy is teetering here. However, much of the increase in exports that was mentioned is taking place through business with China, so I suspect that this will help shield Korea from a lot of troubles. Still, the main market for Korea is the U.S.A. and if sales there don't pick up-- or if the Korean currency continues to go up, it's bad news for business (though good news for English Teachers since not only will our savings amount to more, but student enrollment in English classes goes up during poor economic spells). It's not all about government policy though, or foreign markets. Even uncontrollable things, like the damage caused to Busan's port by Typhoon Maemi are all contributing to a dire sense of impending doom.








