Tuesday, April 17, 2007

Something About Econimic Imposiblilities

In a rush to nab new cell phone clients, South Korean telecom carriers are offering drastically reduced rates on "hand phones" in an attempt to steal customers from other telecom companies. For example, my Korean teacher bought a brand new hand phone, regularly priced at over W300,000 ($300 USD), for an amazing W10,000 ($10 USD). The only thing she had to do was sign up with a different telecom carrier from her own and sign a 2 year contract. The phones are getting cheaper. One hand phone carrier is offering their phones for W1 (.o01 USD). That's where things get interesting. Not only is this ridiculously cheap for a hand phone, the Korean Won's lowest denomination is a W1o coin. How can anyone possibly pay for this phone if there is no such thing as a W1 coin? I'd really like to know how someone could possibly pay for this very inexpensive hand phone.

2 Comments:

At 7:21:00 AM, Blogger Janice said...

Maybe you have to buy 10 at a time?

 
At 8:27:00 AM, Blogger Mike Peacock said...

I did think of that one. When I bought my hand phone for W100,000 (regular W350,000) I thought it was such a great bargain. Now that price is considered expensive. If anything goes wrong with my hand phone again I'll switch to a new one.

 

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