Li Miaomiao was very curious about what Goryeo was planning.
It's important to know that after Zheng Li's true identity was exposed, the Chinese side turned away many people who wanted to see him.
The Goryeo leader was by no means the first person to want to meet Zheng Li. Besides him, many other heads of state from various countries expressed their willingness to come to Gusu to meet Zheng Li.
Among them, Lee from Singapore was the most enthusiastic.
Singapore boasts a deep connection with Zheng Li, noting that Temasek, Singapore's sovereign wealth fund, participated in the Series A funding round for Kechuang Bio.
Or perhaps Zheng Li stayed in Singapore for more than two years afterward.
All of this has given Singapore a sense of hope and urgency in trying to win over Zheng Li.
The news of the imminent advent of virtual reality will not only affect Korea, but Singapore, a small country with only one city, will also be greatly impacted.
The global economic downturn alone, without the Strait of Malacca, is enough to give Singapore a run for its money.
However, Singapore also enjoyed certain benefits. For example, when global asset indicators fluctuated wildly, Singapore, as the financial center of Asia, made a fortune.
Financial centers primarily profit from transaction fees. The dramatic fluctuations in asset values lead to frequent trading by investors, which in turn generates profits for the market.
Just like how China earns more money from stamp duty than from property transaction tax.
It's worth noting that in 2021, stamp duty was about half of the property transaction tax. By the first half of 2022, the difference between stamp duty and property transaction tax had fallen to less than 20%.
This is also related to the sharp decline in second-hand housing transactions. Compared with the first half of 2021, the deed tax for second-hand housing transactions in the first half of 2022 decreased by 28%, while the stamp duty increased by 11.3%.
Stamp duty increased by 47.3% in the first half of 2021.
This example illustrates just how much money Singapore made during periods of extreme market volatility.
But as transit points for international trade, how will they make money when physical demand shrinks?
Relying solely on financial risks is too high, and since physical trade doesn't transit through you, your status as a financial center is precarious.
Although manufacturing in developed countries has been shrinking in recent years, global trade continues to flow.
Products manufactured in developed countries still need to be sold to other countries, and resources from other countries also need to be transported by sea.
Goods from China continue to supply the world.
Therefore, Singapore was not greatly affected.
Just because the impact wasn't significant before doesn't mean that the impact of virtual reality is insignificant.
Singapore has much bigger ambitions than Korea, hoping to relocate the entire Kechuang Biotechnology company to Singapore, or at least become a citizen of Singapore like the wealthy Chinese.
They have full confidence in this regard. From senior executives of Alibaba in the internet industry to owners of Haidilao in the catering industry, countless wealthy Chinese people become citizens of Singapore every year.
Why? In reality, Singapore's system is not superior in any way; it is nominally an election but in practice a hereditary system.
The most important factor that attracts wealthy Chinese to Singapore is its tax system. There is no inheritance tax, and Singaporean citizens are exempt from all income earned outside of Singapore.
Singapore is a tax haven for the wealthy with even more lenient policies than Switzerland.
As a result, Singapore has raised the investment immigration threshold year after year, from 5 million Singapore dollars to 20 million Singapore dollars, and now to 50 million Singapore dollars.
However, Singapore is not trying to attract wealthy Chinese through traditional tax policies, but something else.
"The Korean leader just mentioned that they are willing to make up the price difference, right?"
In other words, they want to lower our pricing to make virtual reality devices accessible to everyone.
Zheng Li nodded: "That's right, they asked for a price difference refund."
Li Miaomiao fell into thought; she knew far more about Goryeo than Zheng Li did.
Kechuang Bio faces direct competition from Korean companies in many fields.
For example, Samsung competes with brain-computer interface VR, and its biopharmaceuticals are equally strong in the biomedical field.
Since entering the biopharmaceutical field in 2015, Samsung has maintained a compound annual growth rate of over 50% in revenue for many years.
The momentum is fierce.
When Li Miaomiao was taking MBA classes, Samsung was a key case study used by the teachers.
In the battery field, LG made multiple visits to LG, attempting to obtain patent licenses for lithium metal cathode materials and manufacturing equipment for graphene coatings.
Including when communicating with other entrepreneurs, I've heard a lot about the corporate culture and rumors surrounding Goryeo.
"I reckon this Korean government is about to unleash a major move."
It is quite possible that they are trying to provide virtual reality entertainment for everyone, and then rely on national finances to provide basic survival security.
Then they turned their attention to the chaebols.
There is a common misconception in China about Korea, that the chaebols are the most powerful in Korea and can do whatever they want.
In reality, conglomerates are still a long way from being omnipotent.
They are above the law, not above the government.
Moreover, in recent years, the power and status of chaebols have been constantly shaken. They are moving further and further away from being omnipotent.
Before Moon Jae-in stepped down, the chaebols collectively pressured him to release Samsung's chairman Lee Jae-yong, who was imprisoned.
First, the heads of Korea's four major conglomerates—Samsung, LG, Hyundai, and SK—proposed to Moon Jae-yong that Lee Jae-yong was crucial to maintaining Korea's semiconductor competitiveness and hoped that he could be pardoned.
Later, America's chamber of commerce in Korea personally lobbied that if Samsung, as one of the world's largest chip companies, did not actively support Biden's plans on the chip issue, South Korea's status as a strategic partner of the United States would be threatened.
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