The reason why Goryeo's credit cards are getting worse and worse is largely due to the "indulgence" of the Blue House's policies and the excessive issuance and ineffective approval system of credit card companies.

For example, the Professional Credit and Financial Industry Act promulgated by the Blue House in 1997 opened the door for Korean credit card companies to enter other fields besides consumer finance.

The number of credit cards issued subsequently continued to increase, and the situation of "taking money from Peter to pay Paul" (withdrawing cash with a credit card to repay debts owed to a bank or another credit card) became more and more common.

However, these credit card companies did not pay enough attention to this. They just thought that the method of borrowing the information of a large number of credit card applicants to obtain large loans from banks was indeed very practical and could bring them huge cash flow and stable profits.

However, with the proliferation of credit card issuance, credit card abuse, and overdue and inability to repay debts on time becoming more and more frequent, the credit card companies that were once regarded as cash cows will eventually suffer a complete collapse!

…

After the meeting ended successfully, Choi Yeon-ri, the president of Emily Cosmetics Company, did not leave with the others, but chose to stay and discuss further with Chairman Lee Boo-jin.

…

"President, based on the current situation, the mid- and low-end products of our Amore Cosmetics Company may be more popular in Longguo. As for the higher-priced high-end products, the sales in Longguo are not optimistic."

"So I suggest that the branch and processing plant we set up in Longguo should focus on low-end and mid-range cosmetics such as Laneige, Mamonde and Innisfree. Although the profit is not that high, the sales volume is still very impressive, and consumers in Longguo are also quite enthusiastic about it."

After hearing what Choi Yeon-ri said, Lee Boo-jin thought for a moment and nodded in agreement, "President X is right. The subsequent cosmetics companies will open processing plants in Longguo mainly for mid- and low-end products. However, production lines for high-end products such as Amore Pacific, Sulwhasoo and HEARA still need to be established."

"It's not just because of the cheap labor in Dragon Country. The per capita income in Hong Kong and Australia, which are no less prosperous than Seoul in Goryeo, is higher, so they are fully able to afford more high-end cosmetics..."

After hearing what Li Fuzhen said, Cui Yanli suddenly realized. He was a little worried that the situation of their cosmetics company was very different from that of the other companies. After all, the purchasing power of high-end cosmetics might not be that high.

Now it seems that he didn't consider it comprehensively enough and missed two developed areas in Longguo! If their high-end cosmetics brand can open up the market in Hong Kong and Ao Island, perhaps their overseas sales can increase a lot! ...

In the office of the chairman of Yuetian Group.

President Shin Go-ho and Vice President Shin Dong-joo both looked at Shin Dong-bing with unpleasant expressions.

If it weren't for the sudden revelation this time, the two of them would never have thought that Xin Dongbing, who had become a disabled person, would actually do such a thing behind the scenes. It was simply a disgrace to their Yuetian Group!

Although they have not received any news from the Blue House yet, they all know that based on Mr. Da Zhong's character, he will not give up easily and let their Yuetian Group go.

Thinking of this, Xing Gehao, who was already in a bad mood, roared at Xin Dongbing angrily, "Didn't you think about the consequences before doing this? Do you really think you are a big shot who can do whatever he wants to this extent?!"

"Yes! Dong Bing, is there anything you can't discuss with me and father? Now the truth has been revealed, and it's spread all over the outside world. Even if we want to help you through the difficulties, it's difficult for us to do anything!" Xin Dongzhu said with some sadness, but she was very happy in her heart.

Previously, Xin Dongbingbing had used some unknown means to win over Lehman Brothers, the financial giant on Wall Street. This situation made his brother and vice president of the group quite anxious.

If this guy becomes strong-willed despite his disability, he may not be able to keep his position as vice president of the group. Even if his father Xin Gehao favors Xin Dongbing, the right to inherit the group may be taken away by the other party!

After all, he had been living with his mother in the Shigemitsu family in Japan, and his relationship with his father, Shin Gehao, was not particularly harmonious. On the other hand, Shin Dongbing had been with Shin Gehao since he was a child. The two had been together for decades, so naturally, his relationship was much closer than his and Shin Gehao's.

Fortunately, the dirty deeds that Shin Dongbing had done in the past have been exposed. If he had not handled it properly, the next response would have been enough to make him drink a pot! Although Mr. Daejong was relatively kind to the members of these big companies and chaebol families, most of the time it was just superficial and a show for others to see. Looking at the miserable situation of Hyundai Group today is enough to know the methods of Mr. Daejong.

Even if Xin Dongbing could get through this by chance, the Yuetian Group would most likely not be passed on to him. After all, how could a notorious guy be qualified to run the Yuetian Group? It would only bring a series of negative news to the group and affect the normal operation of the company! ...

Faced with the joint attack from Shin Go-ho and Shin Dong-joo, Shin Dong-byung remained very calm.

"...So after all this talk, are you going to do something for me? If not, then what qualifications do you have to question and accuse me? Without me, would you be able to get the construction order for the Jeju Island tourism project from Lehman Brothers?"

"Besides, do you think I don't know what dirty things you guys have done behind my back? It's just that some of my things have been exposed, and no one has reported your things yet~!"

Shin Dongbing, who has always been arrogant, was very indifferent at this moment. In his opinion, both Shin Gehao and Shin Dongzhu were profit-seeking people. When he brought benefits to Yuetian Group, they said all kinds of good things to him; now that he has brought trouble to the group, they want to cut off all ties with him and sever ties without any regard for the old relationship. They are really cold-blooded! "Asshole! Is this the attitude you talk to me with?!" Shin Gehao was stimulated by Shin Dongbing's words, and was shocked and angry for a while! He was angry because Shin Dongbing's attitude was extremely bad, which made him very dissatisfied, and he was shocked that this second son who usually kept silent was actually secretly investigating him and Shin Dongzhu, which was simply treasonous~!

However, when he thought about the fact that he still had something on him, Xing Gehao couldn't get angry on the spot and could only scold him verbally, for fear that his actions would push Xin Dongbing, the disobedient son, too hard, and then both sides would suffer a loss!

…

"What else? What attitude should I use to talk to you? I can handle the negative public opinion this time by myself, so you don't need to worry about it!" Seeing that things had come to this point, Xin Dongbing simply gave up and didn't hide it anymore.

Seeing the cold and arrogant look of Shin Dong-byeong, Shin Ge-hao and Shin Dong-joo looked extremely unhappy. Especially Shin Ge-hao, who was used to looking down on others, was furious after being scolded by Shin Dong-byeong. He wanted to teach him a lesson, but when he saw him sitting in a wheelchair, he couldn't do it. He just snorted in a gloomy tone, "It's better to be like you said, otherwise you will be fully responsible for the consequences!"

…

Shin Dong-joo returned to his office and changed his ugly expression. He almost laughed out loud. His subordinates looked at his boss and asked tentatively. If Shin Dong-joo was really ill, he would have to contact the hospital for treatment in time! Seeing his subordinates' strange expressions, Shin Dong-joo didn't think much about it and simply described what Shin Dong-byeong did.

"…Vice President, don't be too careless. Shin Dongbing has been doing business in Goryeo for many years and has established connections with Lehman Brothers on Wall Street. If he dares to say so, he may be able to handle this difficult matter…"

"After all, didn't he kick out one of his subordinates to take the blame last year and let the matter go?"

Hearing the reminder from his subordinate, Xin Dongzhu was stunned for a moment, then thought about it carefully, and felt more and more that the other party's reminder was quite correct.

After all, Xin Dongbing is a guy with a lot of conspiracies and tricks. It is not impossible for him to come up with some tricks to settle things. We still have to be more careful and make more preparations to sleep peacefully!

…

Perhaps because the impact of the continued fermentation of public opinion was too bad, the staff of the Blue House quickly conveyed Mr. Daejong's instructions and ordered the Procuratorate to intervene in the investigation. If SK Group Chairman Choi Tae-won and Yuetian Group's Shin Dong-byung were involved, they would need to summon them for questioning in accordance with relevant regulations.

As for how to deal with the incident later, the staff at the Blue House did not give any explanation.

This somewhat abnormal scene made Kim Jong-min, who received the news, a little confused. Although Mr. Daejong was very "favorable" to these large domestic enterprises in many aspects in order to stabilize the domestic economy, he was still quite decisive in taking action against some guys who crossed the line and stepped on the red line. However, this abnormal behavior was somewhat intriguing.

Kim Jong-min informed Zhang Junfeng of the news with doubts and asked him about the next course of action.

Zhang Junfeng hesitated for a while before speaking, "Looking at this situation, Mr. Da Zhong intends to delay this matter for a while and hand it over to his successor to deal with. He is very calculating!"

"In that case, Brother Zhongmin, you should just follow his instructions. Follow the rules, don't be too aggressive, and don't be too slow. Let the 'destined person' solve this difficult matter~!"

There is no mistake in the poem, post, content, and read the book on 6, 9, and bar!

Listening to Zhang Junfeng's proposal, Jin Zhongmin was puzzled for a while, but then he thought of their original intention of digging out the black material, and then he completely reacted, and a gloating smile appeared on his face. It seems that they have prepared an extremely generous gift for Wu Xuan before they even met him! I just don't know if Wu Xuan can deal with the other party by then, or if he can be dealt with by the other party, it is not impossible...

…

Time flies, and it seems like several months have passed in the blink of an eye.

The economic situation in Korea seems to be in a bad state. The first to bear the brunt are the credit card companies in the country. The number of people with overdue loans has increased significantly.

This situation also caused huge problems in the cooperation between credit card companies and banks. Credit card companies, which were supposed to be profitable, began to suffer huge losses.

Inside the high-level meeting room of Hyundai Group.

As the chairman, Zheng Mengxian excitedly questioned all the subordinates who attended the meeting, "What are you doing? Didn't you receive any news before? Or did you notice anything unusual?"

In order to turn the company's funds around as quickly as possible and repay the debts incurred in the past two years, Zheng Mengxian, with the instigation of his subordinates, agreed to the group's credit card company to issue additional credit cards and secretly lowered the approval threshold for credit cards.

However, with the proliferation of credit cards and the worsening financial conditions of credit card holders, the overdue problems previously hidden by credit card companies are becoming more and more serious.

If they can't come up with a solution, the credit card company's funding chain will be broken. By then, the situation of Hyundai Group will probably not be much better than when it was on the verge of bankruptcy.

However, in the face of Zheng Mengxian's loud rebuke, the top executives of the group remained silent, and no one took the initiative to stand up and speak out to help.

After all, the first bird to stick its head out gets shot. Whoever takes the initiative to speak up will become the scapegoat or even the target of criticism from others if he is not careful. It is a thankless task!

Nowadays, it is not just the credit card companies that are facing serious problems. Hyundai Group, even LG Group, SK Group, etc. have similar problems.

In particular, the credit card companies under the LG Group have the most serious problems because they have issued the largest number of credit cards.

The only reason why it has not been reported by the news media is that the LG Group's strong financial resources have barely made up for part of the deficit and prevented the matter from exploding completely.

However, such an approach can only solve the crisis temporarily and does not completely resolve the problem from the source.

"...According to the current situation, we can only collect debts from those overdue credit card holders and ask them to return all the money they borrowed from us. As long as they pay back the money, our problem will be solved."

A relatively young cadre couldn't help but speak out his opinion. In his opinion, these experienced seniors were playing dumb and keeping silent, obviously not wanting to get involved in such a mess. But this might be an opportunity for him!

If he performed well enough, maybe he could catch the attention of Chairman Zheng Mengxian, and then he could be promoted and given a salary increase. "Humph! That's easy to say. Have you ever thought about why those guys are overdue? Most likely, these bastards spent all their money. That's why this happened." The old cadre on the side saw the young guy speak up and refuted the other party's proposal without hesitation.

"That's right. You expect these guys who have spent all their money and are now penniless to give you back all their money. Do you think that's possible?"

…

In the conference room, several people with completely different views soon started arguing because of their disagreements.

Seeing this scene, Zheng Mengxian, who already had a headache, became even more annoyed. He slapped the table and warned everyone in a low voice, "Enough, I asked you to find a solution, not to listen to your arguments!" (End of this chapter)