Korean Air Skypass - KE Post Worst Loss in 14 Years on Weak Won

Korean Air Lines Co. said Friday it posted its worst quarterly loss in 14 years because of high fuel costs and weakness in the South Korean won.

Source: http://www.topix.net/content/ap/2008/11/korean-air-post-worst-loss-in-14-years-on-weak-won

I'm working in Korea right now and honestly I don't feel like Koreans, at least my co-workers, are paying attention to their dwindling currency. Where as all of the expats here are scratching our heads, the ones here in for the long run are fine with it, but for most of us who want are in and out in a year or two, this hurts a lot.

The Korean Won is going to continue going down and will not even start to go back up until Sept 2009, around then. Sigh.

As I write this, the Won/Dollar exchange rate is Won1,500/$1.
The Won has lost about 60% of its value against $ and about 70% against Yen over the last 11 months. The Won's weakest will continue, until Japan agrees a currency swap with Korea. Japan is at the moment is the only source of $$$ for the Koreans. But, I think 1,500/$1 is pretty much a peak.
Another reason for weak Won at the moment is Yen-carry trade.

Just my two cents.

I'm working in Korea right now and honestly I don't feel like Koreans, at least my co-workers, are paying attention to their dwindling currency. Where as all of the expats here are scratching our heads, the ones here in for the long run are fine with it, but for most of us who want are in and out in a year or two, this hurts a lot.

The Korean Won is going to continue going down and will not even start to go back up until Sept 2009, around then. Sigh.

Asiana also posted losses in the 3rd quarter, but did relatively better than KE.

Korean Air Lines Co. said Friday it posted its worst quarterly loss in 14 years because of high fuel costs and weakness in the South Korean won.

Source: http://www.topix.net/content/ap/2008/11/korean-air-post-worst-loss-in-14-years-on-weak-won

Good news for Americans traveling to Korea. More bang for the buck.
Bad news for parents sending their kids to college in the states though. :(