novelones Chapter 300: Taking over finance, the overlord of country 1
Chapter 300: Taking over finance, the overlord of country 1
December 1996, 12, is an unforgettable day for the people of Han State.
Representative Kim announced good news and bad news in front of the TV.
The good news is that they no longer have to worry about the bankruptcy of their international reputation. They have accepted the US$500 billion bailout delivered in two installments by Bailong Bank!
Of this amount, US$200 billion has been received, of which US$100 billion will be used to pay short-term international debt that is about to mature.
The remaining portion will be used to rescue companies that are about to go bankrupt.
After hearing this news, people around the TV cheered. As long as their credibility is not downgraded, their foreign trade can continue.
Some small businesses on the verge of bankruptcy seem to have seen a glimmer of hope for continued survival.
But then Representative Kim announced another piece of bad news:
“It is because of over-expansion and over-consumption that our country is where it is today.
From today on, we must change our previous development strategy of excessive pursuit of quantity and output.
While we are accepting assistance from the Bailong Consortium, the financial industry needs to accept the other party's comprehensive control. Bailong Bank has the right to supervise the bankruptcy and reorganization of all our companies. "
This news caused everyone to be in an uproar, especially for the big chaebols. This was not good news.
Originally, according to their expectations, after receiving the IMF aid, in addition to returning some international loans to the company.
The rest will be used to acquire other bankrupt companies.
Nowadays, small and medium-sized enterprises in the cold country are struggling to survive, and the top [-] companies are also on the verge of bankruptcy. This is the best time for capital to reshuffle.
But now the economy is controlled by Bailong Bank.
If they want to acquire or merge other companies, they cannot do without Bailong Bank. This feels like they have another emperor on their heads.
The most awkward ones are Daewoo Kim Family and Samsung Lee Family.
We used to be good brothers who played together, but suddenly one day, you said you wanted to be my dad.
Everyone will discuss their own affairs later.
Anyone else would feel uncomfortable.
What troubles them most is that if they want to continue to use loans to finance their loans in the future, they must obtain Wang Lei's permission.
In other words, whether they will go bankrupt or not depends on Wang Lei's words.
Thinking of this, several big chaebols felt fear and fear.
The first person to send a congratulatory message was Mr. Xin, the head of Lotte. He couldn't do it without sending it. The two families had old grudges. Although the matter had passed a long time ago, he was still worried about Wang Lei settling the score in the future.
"Mr. Wang, in addition to expressing my loyalty to you this time, I also want to remind you that you have ruined IMF's plan, so be careful of the counterattack of the capital behind you.
If it's useful and you'll be happy, just ask, and I'll bite whoever you want me to bite. "
Of course Wang Lei knew the reason why he was so eager to show his loyalty. In order to expand in the cold country, Lotte had to bear a large amount of foreign debt. Once the supply was cut off, Lotte Group's capital chain would be in great danger.
"Boss Xin, come to the royal residence in Myeongdong for a meeting tomorrow night."
"Okay, I'll be there on time."
Hyundai, LG, SK and other large groups have sent congratulatory messages, hoping to be closer to my father in the future.
On the contrary, Samsung and Daewoo were the slowest to respond.
Jin Yuzhong, who came to visit again, couldn't help but be filled with emotion.
"Wang...Mr. Wang, I came here this time to talk to you about Daewoo's debt. Daewoo is in urgent need of funds to repay foreign loans. I don't know if I can..."
Jin Yuzhong still couldn't get used to being humbled in front of Wang Lei. When he was threatened before, he was never as embarrassed as today.
"Uncle Jin, sit down quickly."
"We will have a meeting tomorrow night. If you don't talk about it, I will also talk about how to distribute the 100 billion corporate aid fund."
Seeing that Wang Lei was still as usual and not arrogant and domineering because of this, he couldn't help but feel a little more comfortable.
"I don't know how much aid money we Daewoo can allocate?"
"As an ally, I won't hide it from you. It depends on how many shares you can offer, uncle!"
Jin Yuzhong was shocked when he heard this. This guy has such a deep calculation.
He actually came up with the idea of Daewoo shares.
Wang Lei stopped pretending at this time. He would feel hypocritical if he continued to pretend.
Seeing Jin Yuzhong's delay in responding, Wang Lei continued:
"The $100 billion is just an appetizer, and the next $300 billion is the main course."
Yes, sharing 100 billion U.S. dollars among several plutocrats can only quench immediate thirst, but not long-term concerns.
300 billion is the top priority for each company.
Seeing that Jin Yuzhong still didn't respond, Wang Lei could only sigh:
"Uncle Jin, I actually don't have much choice for you. If it's foreign capital, they won't be as easy to talk to as me. If you don't want to bow to them, maybe Daewoo will have to go bankrupt!"
Why were all the other big chaebols able to survive, but Daewoo couldn't survive in 2000? Why was it that Kim Woo-jung was imprisoned for fraud?
The reason is ridiculous.
Experts will analyze that Hanyuan has depreciated significantly, from 800:1 to today's 2100:1. Hanyuan has poor resources and relies heavily on imports. The devaluation has led to a sharp increase in Daewoo's costs. More and more debts have caused Daewoo's collapse. .
In Wang Lei's opinion, Jin Yuzhong was too stubborn and offended the capital behind IMF.
Of course Jin Yuzhong understands this, and Wang Lei is curious whether he will continue to be stubborn.
"Wang Lei, I'll go back and think about it carefully and give you a reply tomorrow."
Just after bidding farewell to Kim Woo-jung, Lee Kun-hee is welcomed back.
"Father-in-law, please come in quickly."
Facing Wang Lei's title, Li Jianxi was still a little uncomfortable.
"Duoduo, hurry up and call grandpa."
At Li Fuzhen's urging, Wang Duoyu, who was hiding behind Wang Lei, timidly called "Grandpa."
This feeling is very strange. Li Zairong has no heirs yet. Li Jianxi said with great joy:
"Please let grandpa hug you quickly and see what I brought you?"
Wang Duoyu's eyes shone when he saw the candy and he swallowed.
"Mom won't let Duo Duo eat sweets."
"Abba, please put away the candies quickly. Duoduo is still young, so he can't eat too many candies."
"What big difference can it make if you just eat one?"
Perhaps because of the separation of generations, Li Jianxi really likes Wang Duoyu. He played with his child for a long time and almost forgot about business.
"A Lei, I have almost guessed what you are thinking. I can give up shares in Samsung Electronics or even Samsung Group, but the holder must be Wang Duoyu!"
It's easy to talk to smart people, so Wang Lei readily agreed to this additional condition.
"Father-in-law, I hope you can support me unconditionally in my negotiations with several major chaebols tomorrow."
"Of course then, but you need to give more help to Samsung. We are developing new models of mobile phones..."