If.

I get most of my news from the New York Times and it was nice to see today on the front page of the online edition that South Korea's central bank has announced yet another massive cut in its prime rate. I am not an economist and I know very little about monetary policy and I am not going to sit here and bitch about how this downturn is affecting poor little me, but from reading the article it has become apparent to me that things are worse than even I thought.

The whole premise of the American bailout is that they can get money from Asia and Europe to plug up the holes. But according to the Times, the double-digit growth period enjoyed by the Chinese economy is a thing of the past. The growth rate in China is expected to drop to as little as 8% next year. This credit crunch will eventually affect the dollar as foreign funds become more and more pricey. That is one side of the Won/Dollar coin. The other is this: for two thousand years South Korea has been the ground meat of a cultural and economic sandwich between Japan and China and that has never been more true than today. Korea also needs capital as an emerging economy and far worse. To compound things, the Korean export economy is far more dependent on Asian demand that of the US.

My complaints about income erosion led my boss to tell me what has become a mantra in South Korea: now is the time to save money. It will bounce back. Wait it out. But what if you have no choice? What if you have to turn your hard won Won into dollars? You want to see grown men cry? Go sit in the waiting room at a Korean exchange bank. As of today the exchange rate is $1/1393. It was sitting at $1/950 when I signed in June. That is a drop of something like a rather large number in front of one of these: %.

So ok. I lied. I am complaining a little. Sorry. But I have a readership (and I really appreciate both of you) and I ultimately have to say how I really feel. People email and ask if coming to Korea is a good idea and I am responding with a resounding "IF." If you don't have to send it home right now. If you are good at saving money and can live frugally. If you enjoy working really, really hard and like teaching for teaching's sake, then by all means get your butt over here. If not, go work at Walmart. You can save a lot of money with your employee discount.

The real problem, of course, isn't the world's economy, but my own personal lack of fiscal discipline. I put off sending anything home as long as I could but I can wait no longer. And IF I would have save more this wouldn't have been as painful but... The economy, the paraphrase the poet who wrote it, is a big shit pie and everyone gets a bite.

So if it is time for dinner, lets look at the entire meal and not just desserts. I have said before and I will say it again: I love this place. The food, the city life, the people. And if you have to live on the cheap somewhere, this is a pretty good place. I could be getting paid in pesos or godforbid American dollars. The inflation rate in Korea is so low that it is actually too low. This is a two-edged sword as well: while the local buying power of your income is steady there is little justification for employers to increase salaries. I am wondering how this currency situation is going to effect salary offerings for foreign teachers. We could, after all, go teach elsewhere. But I predict that as the unemployment rate continues to climb in the US many young people might see this as a great option regardless of the economics and thus serve to hold down demand over here. Or maybe blogs like this one will influence people to take a good hard look at the realities of thier finances before making the jump. This, of course, would have done me little good in June. And I did look at the exchange rate and show it to my friends and go: "Look, it's a goldmine." A goldmine with some serious structural issues maybe, but how was I to know?

The other way to look at it is that there is probably no where to go but up. And the action by the ROK central bank yesterday bears out that they are going to do everything they can to stop the skid. Short of a worldwide economic collapse there has to be a light at the end of the tunnel so coming over here now really wouldn't be all that bad of an idea. If....

Not Another How-to Post

I was thinking about how to survive in your tiny Busan apartment but then I remembered that many of the youngsters here were surviving in a place just as small with four roommates in college but I am going to write a few pieces of advice anyway if only for the people I know (you know who you are) who could benefit from a bit of motherly nagging.

• First: Even if you are happy in your squalor, recognize that your inevitable guests will not be. Do you dishes. How to: if you have a one-holer, and you do, fill the sink with suds and dishes. As you wash them, place them on the counter where you just made a mess (the suds will drain a bit but that will help clean the counter). Arrange artfully. After all the dishes are done drain the sink and put the clean dishes back in. Clean the counter. Lay down clean drip towel. Rinse dishes and arrange artfully on drip towel, making sure that there is room for air circulation. Smoke a cigarette and admire.
  
• Next: Make your bed. This has two effects. First, it causes you to take a basic step toward housekeeping first thing in the morning and this could accidentally lead to others. Second, it gives you a signal that the bed is for sleeping at night. Not at six in the evening or two in the morning. It is, and should be, a special place of sanctuary. Respect it through the ritual of bed-making.
• Creature comforts. I am a dude. But even dudes, on solitary nights, might find the presence of candlelight comforting. I am always surprised at how a little soft light and jazz (not smooth jazz, but, like, miles or jarrett) can completely change the atmosphere of a room. If you have the energy, get to a HomePlus and pimp out your bed. Pillows, down, the works. And get some nice towels for god's sake. And a throw blanket to wrap up in. All of this, needless to say, will come in handy when you finally get drunk enough to talk to someone of the opposite sex (or).
• Laundry. Just do it. And the more often the betterer. And don't throw your dirty underwear in the hall. Get a basket and put the stuff that needs washed in there. The stuff you can wear again fold and put at the bottom of the clean stack (duh!).
  
• The Bathroom. The shower stall/crapper/toothery/shavities in these apartments present their own special challenges. Anyone who has been ready to go only to sense that they had a facial issue or hair issue has been faced with the following choice: take off your socks or go fix it at work. Solution: I have super-glued a mirror to the exit. This allows me to take one last look at my beautiful mug before launching it into the world while maintaining moisture-free hosiery. And the combination of rubber gloves, a bucket, water, Dawn detergent, stiff bristly brush, and a post-wash bleach spritzer (I have mine in an old Windex bottle [2 parts water/1 part bleach]) will (probably) keep the fungus at bay, unless you live in Nampodong, in which case you should scrub with an old fishing net and sea water.
  
• Beer. A little liquor of an evening can lubricate the proceedings nicely. Just put on some music you favor and tipple. It is fun and makes the room seem comfy yet expansive. Take it from me. And Hite isn't that bad after the first two liters. Never, ever, drink Max or Soju. Especially on a school nite.
  
• Cooking. A little bit of creativity and you can make a home cooked meal in that closet of a kitchen. I made a delicious soup this evening by sauteing onions, garlic, celery, carrot, baby mushrooms, and scallions in a quarter stick of Land of Lakes butter, later adding three cups of water, 1.5 cubes of Knorr's chicken bullion, and a half of a smoked chicken. After that had simmered I pulled out the chicken and threw in some egg noodles. I pulled the meat off the chicken carcass and threw it back in (the meat, i mean [the skin and bones and gristle I remained to the freezer for carcass soup later]). A friend brought a baguette (the ones at Paris Baguette don't suck) and we dined like rednecks at grandma's house. And then I did the dishes.

I could go on but I will save some of my more pointed suggestions for the inevitable eventuality that these don't work. Again, you know who you are.

Unqualified Food Criticism: Dave's Fish and Chips

Several friends of mine had recommended the breakfast at Dave's so we decided to head out to Jangsan and try it out on Sunday. I have only had an English breakfast a couple of times before and neither time was in England, so what follows is merely the opinion of my own sizable gut.

There were several couples in the cozy place when we arrived. The dining room sat about twenty four and had a huge (and remarkably clean) picture window which offered a pretty nice street view and brought in a lovely morning light with the southern exposure. One wall was decorated with a hand drawn mural depicting a mill on a stream. Painted on another near our table was a hearth with a roaring fire. It was only noon on a Sunday but I still contemplated sampling some of the beers Dave keeps cold in a corner cooler. The list was impressive. I will definitely be going back for dinner.

The food came out quick and hot. Crispy bacon (I like mine a little chewier, but that is a matter of personal taste), hot toast, and a fried egg (this was exactly the way I like it although I wasn't asked: they must have read my mind), were accompanied by baked beans and a grilled tomato slice. It was all delicious and I don't think they had to wash the plate when I got done (no, I didn't lick it...I used the last piece of toast). And a nice hot pot of black tea. And juice. Many of the coffee shops in Busan serve their sugar in liquid form (sugar syrup) and I went for what I thought was a squeeze bottle of that and it turned out to be lemon juice so watch out for that. There is a dispenser of granulated white sugar in the basket as well.

We arrived more around lunch so we took the opportunity to try the specialty as well and the fish and chips did not disappoint. I like my potatoes fried a little bit more but I suspect that they are done medium rare on purpose. The fish was divine. A huge slab with just the right amount of breading done to a golden turn (that phrase courtesy of Mike Madonia in a catfish commercial back home). It was wonderful.

After our meal the proprietor came out and chatted. He has been in Korea for six or seven years and I don't think he's leaving. I probably told him way more than he wanted to know about my life (sorry...its a habit), but he was a very nice fellow who shared with me the physique of someone who knows how to find the bottom of a bowl or a bottle. I look forward to going back and sharing a beer with him soon.

Dave's Fish and Chips is a five minute walk from the Jangsan subway terminal, three if you are hungry. When you leave the subway station look around and find the 2001 Fashion Outlet store. From the corner it sits on walk to the opposite corner (the intersection has the jaywalk crosswalks) and take the sidewalk on the right. It is about half a block past the next stoplight, 2nd floor on the left. Look for a rather small (by Korean standards tiny) red sign. They are open for breakfast, lunch, and dinner on Saturday and Sunday. Tell Dave Joe sent ya!

I'm Only Happy When It Rains

I have never been a rainy day type person. I am actually a little more mental on cloudy days than I am normally and that isn't good usually (yay! three adverbs) but I love Busan when it rains. This city, for reasons peculiar to itself, really benefits from a bath. It is normally a little dusty, a little grubby, and wears all of its odors maybe a little too proudly. A little rain gives it a shine and softens the stonger smells. It is nice.

And so it has been for the last few days, which have produced a steady drizzle. I don't even need to look. I can hear the rain tread of the tires in the busy street up the alley. I think, BTW that the alley that terminates in at my building is the steepest and shortest in Busan, but this is most certainly wrong. It is certainly fun to navigate when neither of us are too dry (me or the alley).

I went to my first professional basketball game last night, the (Busan) SK Magic Wings versus the team in green. 'Magic Wings' always makes me think of some innovation in feminine hygene but I cannot recall from my subconscious the source of the association. The crowd, like so many here at any sporting event other than baseball, was sparce but enthusiastic. Koreans love to cheer and they aren't afraid to jeer either. Professional Korean sports teams are allowed a limited number of foriegn players, and basketball is no exception. They were each allowed two gigantic African-Americans. Only one was allowed to play in the second and third quarter. we missed the first quarter (Allison, Jiho, and I attended), but when we arrived Busan was about three points down. The center for Busan (who remained in) was a likeable fellow who didn't hog the ball and made some very good assists to his Korean teammates. By the end of the third quarter Busan had built a ten point lead mainly through team defence and excellent passing. The Koreans were not great drivers but they were able defenders and played a complicated pick and pass game akin to the WNBA. The center was several times signalled to stand on the baseline in three point land to draw his counterpart out of the lane, allowing the Koreans to run a successful set play, a role he graciously accepted.

The fourth quarter ushered in the other foreign player, a guy who probably would have played point or shooting guard in the NBA, and who thought (mistakenly) that everyone in attendance had come to see him. He asked for the ball every time down the floor and got it and proceeded to drive on triple teams. He usually ended up either laying on the floor, producing a fast break for the other team or being called for charging. The opponents scored 16 unanswered points and won the game handily. Needless to say I was disgusted.

Afterwards we went down to Yeonsandong (my neighborhood "downtown") and walked the narrow alleys until we found a cute little chicken spot to eat. We ordered the variety platter and it was really good. Allison, my new coworker and apartment neighbor, ordered a pitcher of Soju and fruit punch, and ended up drinking most of it. The chicken was great and I brought the leftovers home. So ended another lovely rainy Friday night in Busan.

What to do if you get sick while teaching in Korea:

Go to the hospital. Once you have your alien registration card and your physical you are registered into the country's mandatory medical insurance plan. I pay about 37000 won per month out of my paycheck (employer pays the other half) for the coverage and it is well worth it. I have been sick twice since I got here and both times I got fast and effective medical treatment. Today during lunch (this is why I am writing about this) I went to the hospital across the street with a bad cold. I was examined at the door and sent directly to the doctor who diagnosed me with an Upper Respiratory Infection (URI) and wrote me a prescription. I had that filled at the pharmacy down the street and I took a dose and lunchtime isn't even over yet and I feel better already. I can breath at least.

Moral of the story: get your alien card and physical as soon as possible after you arrive and if you get sick (and you will) go to the doctor immediately. I started working on my alien card fairly quickly and it still took almost a month to get everything back (you have to enroll in the medical plan after you get your card and that takes a minute as well). Also, bear in mind that immigration will be holding your passport while they process your alian registration. I had to adjust my travel plans for the first month to compensate for not having a passport. I arrived at the end of June and the school closed for the last week of July and I would likely have gone to Japan if I was sure I would have got my passport back in time.

And at these prices there is no use trying to medicate yourself with over-the-counter meds. The doctor's visit cost me 3500 won and the prescription, which included six doses of four and a half pills each, don't ask me what) cost me 1400 won for a grand total of 4900 won. That is $3.81 in the current exchange value.

Which sadly brings me to my second topic: the exchange rate. I have tried in this blog to avoid any negativity about my experience here in Korea, and there has been very little of it. My job is hard sometimes, but my jobs at home were as well. I love Busan, my beautiful adoptive hometown, and the rest of Korea (what I have seen) is a gem. The people here are wonderful and kind, and there are many other things I could say about this wonderful experience...but there has been one big downside for me.

Korea sends a major portion of their exports to the United States and as a result of the US financial crisis the won/dollar conversion rate has tanked. Since I started watching it last January it has dropped by about 30% against the dollar. It is still very cheap to live here and there is very little inflation to erode my standard of living (which can't be said of other ESL hotspots where I read that you may go from comfortable to desperate in the course of a one year contract) but I have financial responsibilities and waiting till the currency rebounds (which it almost certainly will eventually) is not an option for me. If you are in the same situation, bear that in mind when looking at your contract: if you need US currency look at the current exchange rate when contemplating a budget. Of course, there is not way to predict what will happen in six months, but is is worthwhile to see what you are working with if you have an immediate need for dollars.

Here is a link to the English language website of the Korean National Health Insurance Corporation (turn down your volume before clicking or you will get blasted with a special video message that's set to stun).

Hallowe'en and Other Funtime Pictures.

Here's a set of pictures from the last two weeks or so. Included are: a kite-flying trip to the beach, a soccer game, and Hallowe'en at work. Enjoy!

KoreaPics23

Holding my Breath

One of the things I am most grateful for about coming to Korea is that I dodged the brunt of another presidential election. I do keep up on the news back home but I am never in a situation where I am forced to watch Fox "news" out of the corner of my eye (Sangamo Club) or listen to Rush Limbaugh sound bites (Cardinal games on WTAX). These things I don't miss. Even filtered however, news of this election has been disheartening. I and others (notably The Economist, my primary print source of international news) thought that this election had the potential, because of the two candidates, to be an above the belt affair. Sadly, this potential has not been realized. I had a great deal of respect for McCain prior to this election. I didn't always agree with his views but I felt that he was frank about them and had the kind of integrity woefully lacking in the rest of his party's leadership. All that went out the window with the nomination of Sarah Palin, about whom less said's the better. It seems since that time McCain has lost what little control over the character assassins heading his campaign. There have, to be fair, been warnings from many Republican operatives that Palin might permanently destroy the party, but this, sadly, is unlikely. This election, should it lead to a Democratic victory, will likely spell the end of a NeoCon minority controlling the Republican party, as it has for the last 25 years, and this can only be good for everyone. Indications are that the Christian right, fiscal conservatives, and Purple state labor have finally seen through the lies and are prepared to defect. If so it would mean the end of the Hannitys and Rowes. I should probably wait to post this until after the election but what the heck. I am a blogging maverick.