Weak Korean won drops post allowance to zero

[unhappycamper]

Weak Korean won drops post allowance to zero
By Travis J. Tritten, Stars and Stripes
Pacific edition, Wednesday, November 12, 2008

Federal civilian workers in South Korea shouldn’t bother searching paychecks they’ll get later this month for their overseas living allowance — they won’t find any.

Allowances went up in Japan, however.

Post allowances for U.S. government civilians in South Korea fell to zero on Sunday, further proof of the won’s dismal performance this year, according to State Department figures.

The change means many civilian workers in the country, after seeing the allowance fall in recent weeks, will get no extra cash in their paychecks to help with the cost of living in a foreign country.

Workers in Osan and Uijongbu will still receive a 5 percent bump in pay as a post hardship differential, which is compensation for extremely difficult or unhealthy conditions or physical hardship.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=58751