Chapter 52 Yongsan's Lifeline
Cheong Wa Dae, inside the Presidential Office.
Everyone was silent, afraid to make a sound, for fear that the president on the main seat would vent his anger on him! Now Mr. Yongsan is particularly annoyed and aggrieved. With the stirring of those international speculators, the whole of Goryeo is already in turmoil. After spending tens of billions of US dollars in foreign exchange reserves, it still cannot reverse the decline. Now the whole country still has a huge foreign debt of hundreds of billions of US dollars, and the amount that is about to expire and needs to be paid is as high as more than 20 billion US dollars! Such a difficult situation is like a natural moat in front of everyone. If he can't get over it, then the only way waiting for him is to resign and commit suicide to apologize, which can keep a little dignity! Obviously, the previous presidents were so comfortable. While they were in power, the economy took off, and the annual GDP growth rate was an astonishing 7%! But in the years when he took office, there were either major accidents or large companies went bankrupt one after another. It was really miserable! Now there is no solution, and the whole country is going bankrupt!
Thinking back to when I was elected and took office, and the stark contrast to my current predicament, a feeling of regret quietly grew in my heart.
Several members of the think tank on the side looked at each other and shook their heads, without any solution.
Those friendly overseas financial institutions chose not to help, which doomed them to failure. They could not recover at all. At this critical moment of life and death, without sufficient funds for external assistance, they are helpless!
…
After more than ten minutes of silence, the oldest Chen Fuchen couldn't help but sigh and said, "Right now, the only one who can help us get through this is the International Monetary Fund (IMF). There is no other way!"
(Note: According to the "International Monetary Fund Agreement" signed at the Bretton Woods Conference in July 1944, the International Monetary Fund's responsibilities are to monitor currency exchange rates and trade conditions of various countries, provide technical and financial assistance, and ensure the normal operation of the global financial system.) Hearing Chen Fuchen say this, everyone's eyes lit up. This may be their last resort! After all, it is an organization led by the United States. With the special relationship between Goryeo and the United States, as long as they open their mouths, they will not "watch them die without helping them, right? ! Seeing that he still has the possibility of "rescue", Mr. Yongsan did not care about anything else, and hurriedly asked his subordinates to ask the United States and the International Monetary Fund for help, hoping that they could save Goryeo from "water and fire"! Little did they know that the "International Monetary Fund (IMF), which they regarded as the last straw, had been looking forward to it, waiting for them to "fall into the trap"! ...
Naturally, the internal information of the Blue House could not be concealed from those well-informed large enterprises. Daewoo Group, Hyundai Group, Five Star Group and other top-ranked large enterprises and state-owned banks all learned of the situation.
Compared with the nervousness of other companies and banks, Hyundai Group is relatively calm!
In order to alleviate the situation of the impending break in the capital chain, they "in disguised" threatened the Blue House and Mr. Yong Sam, and obtained a large loan before the Goryeo won exchange rate collapsed.
It is precisely because of this reason that Hyundai Group, which was supposed to be heavily in debt and on the verge of bankruptcy like Five Star Group and Daewoo Group, has become the one in the best condition! …
As for Daewoo Group, its situation was precarious! Due to the five-year expansion goal and plan set by Chairman Kim Woo-jung in 1996, a large amount of profits were used to open overseas offices and production and sales factories in order to form a huge global business network.
If there are no unexpected events and the original plan is implemented in an orderly manner, the substantial increase in the scale and production capacity of the Daewoo Group will certainly further increase the sales and market share of the Daewoo Group.
However, as the sudden financial crisis swept across Asia, the original plan came to nothing! Daewoo Group, whose capital chain was completely broken, became the first and only one of the top five companies in Korea to declare bankruptcy!
In order to avoid the bankruptcy of Daewoo Group and his own debt problems, Chairman Kim Woo-jung took the opportunity of a business visit to escape from Goryeo and began his exile that lasted for several years! ——————Dividing line——————
Five Star Group, inside the president’s office.
Li Jianxi was in a very bad mood after the meeting. According to the returns of the subsidiaries, the remaining funds in the accounts of these companies added up to less than 100 million US dollars! This terrible situation gave him, the chairman, a headache. If he didn't raise funds as soon as possible, the situation of their Five Star Group would not be much better than that of the Daewoo Group, which had already declared bankruptcy!
"... Zai Rong, as the vice president of the group, how can you raise funds in a short period of time?!" Li Jianxi placed his hopes on his son who was highly expected.
But at this moment, Li Zairong couldn't come up with a reliable solution! After all, the group's funding gap is as high as hundreds of millions of US dollars. There are only a few people who can take out such a huge sum of money! Domestic banks have long been shaky, and overseas financial institutions don't even give face to the Blue House (Goryeo official), let alone their Five Star Group? ! Seeing that Li Zairong couldn't do anything, Li Jianxi was a little desperate! The future of their Five Star Group is "precarious"!
Li Fuzhen, who was standing by, saw the frustrated expressions of his father and brother. After hesitating for a moment, he suddenly said, "Dad, if the company's funding gap is only 100-200 million US dollars, maybe Junfeng can find a way!"
Li Fuzhen's sudden words stunned Li Jianxi and Li Zairong! How could Zhang Junfeng come up with so much money? Even the loan company in his family might not have so much liquidity, right? !
Li Jianxi had asked someone to find out before. Most of the funds of his in-laws (the Zhang family in Myeongdong) were loaned to medium-sized enterprises in the country. Now, hit by the financial crisis, many companies are going bankrupt. The situation of the lending companies should be similar to that of the banks, with a huge amount of bad debts!
Seeing that her father and brother were skeptical of her words, Li Fuzhen became anxious. Her man was much better than they thought! "Junfeng has investments overseas! He has made a lot of money during this period. If things don't work out, he has a lot of business dealings with the senior executives of Goldman Sachs. We can ask him to help make connections. If we can persuade Goldman Sachs to help, our crisis can be resolved!"
There is no mistake in the poem, post, content, and read the book on 6, 9, and bar!
(End of this chapter)