The city is washed away by heavy rain like pouring rain in Yongsan District, Seoul. The streets washed by rain, whether they are old low-rise bungalows or newly built tall buildings, look like new clusters.
The billboard on the building beside the street is painted with images of Michael Jackson. This world's top king will hold his world tour in Seoul three days later. It is said that all the tickets for the concert have been sold out, and even rich people have specially published on the newspaper to purchase tickets for the concert at a high price.
This is a city full of vitality, and it is also a country full of vitality. Since the economic takeoff in 1993, the per capita income of Koreans has exceeded 10,000 US dollars, up to 13,000 US dollars.
Although such a standard cannot be compared with Japan, where the per capita income exceeds US$30,000, it is considered the best in the entire East Asia and Southeast Asia, and is known as the first of the four Asian dragons.
Unlike the lifeless economy and society in Japan today, South Korea's economic atmosphere is still generally upward, and the people are very positive and optimistic. They think it is only a matter of time for their country to catch up with Japan.
Yes, among the three East Asian countries today, China, the largest in size, has not been seen by the world. Whether in the eyes of Japanese or Koreans, the former sect leader seems to have become useless except for its vast territory and large population.
But as a rebirth, Kita Kitani of Miyagi knew very well that the behemoth on the west coast of the Ocean was watching the so-called economic dispute between South Korea and Japan indifferently, while chasing forward with firm steps.
In addition, Korea, which is now full of joy and confidence, will not be happy for long. The American father will soon tell them that no one can be spared under the avalanche.
As a practitioner in the financial industry, Kita Kita is still sensitive to economic data. In his opinion, South Korea has actually been sitting on the explosive barrel. The reason why the thrilling explosion has not come yet is because the fuse has not yet burned out, that's all.
Similar to the situation in Japan, South Korea is also facing a serious financial crisis today. More than half of the top 35 large banks are troubled by astonishing bad debts, which is enough to collapse the entire Korean financial industry and are already eager to try.
In fact, compared with Japan's financial problems, the disadvantages of the Korean financial industry are more serious, and these disadvantages are entirely caused by the South Korean government. Its originated from the great economic development that began in the early 1990s.
South Korea has been promoting the process of financial liberalization since the early 1990s, but the government's interference in the financial industry has not been reduced at all. Moreover, the government's interference in the financial industry has a basic starting point, that is, to promote the high domestic investment rate and administratively promote the continuous expansion of credit scale.
The management of large commercial banks in South Korea is basically appointed or directly appointed by the government. Under the leadership of the government, these large commercial banks provide amazing loans to large chaebols in South Korea through the two banks, the Korea Development Bank and the Korea Export-Import Bank, to help them develop.
The worst thing is that this lending process lacks sufficient supervision, and the government either openly or secretly endorses the big chaebols to help them borrow high amounts of funds from banks. The bank lacks sufficient credibility analysis and risk control for each loan. The ultimate consequences are not only problems such as excessive loan risks and insufficient bank principal, but also a series of violations such as lending arbitrage.
The biggest problem with South Korea's economy today is that the average borrowing and equity ratio of the top 30 large chaebols and enterprises actually exceeds 500%. What does this mean?
That is to say, the liabilities of these companies have exceeded their equity several times
Such high debt not only drains the profits of the company, but also makes these companies extremely dependent on bank lending. Once the bank's funds cannot be supplied, these companies will be counted as one, and no one can escape the fate of bankruptcy.
To put it bluntly, the problem of South Korea's economy, in the final analysis, is that the government and the chaebol reached a consensus, and the two sides conspired to drain the country's assets and the people's savings.
If the Japanese financial world is a muddy pond, then the Korean financial world can only be described as a cesspool.
In the pouring rain, the convoy slowly drove into the vestibule of Shinhan Bank Building 1, Itaewon, drove up along the gentle slope in front of the building, and finally stopped directly at the entrance of the building.
At this time, more than twenty people were waiting there under the rain-covered eaves in front of the building. When he saw the car in Miyagiki stopped, a young man in a straight suit came up and opened the door for Miyagikiki.
Mr. Akamoto, welcome you. It is an honor for us, Xinhan Bank, and an honor for each of us. The young man bowed his body and bowed to Miyashiki Kita who was sitting in the car. His pretty handsome face was full of smiles.
Kita Miyashita came out of the car, looked at the young man and smiled, then turned his gaze to the right, where there were more people waiting to say hello to him
Today is the second day after the arrival of the Minatoshita Kita in Seoul. He received an invitation early in the morning, and Xinhan Bank invited him to attend a charity party tonight.
Although this invitation represents Shinhan Bank, the invitation is Gu Benjun, the current vice president and CEO of LG Commercial.
The name Gu Benjoon is not well known in Korea today, but this person has a deep background. He is the grandson of LG Group founder Gu In-ho, and is brother to LG's current president Gu Ben-mo.
Tonight's charity party is aimed at raising funds for children with leukemia. The organizer is Xinhan Bank, and the invited guests are from celebrities from all walks of life in South Korea, including some foreign-funded enterprises.
To be honest, Miyashita Kita has no interest in such so-called charity parties, but there is a word called "Friendship is hard to refuse." After all, the invitation letter is delivered to your hands. If you can't hold on, it will only make people feel unhappy.
Miyashita Kita is not a kid, he will not do anything that offends people everywhere.
Mr. Akamoto, as Miyashita Kita's eyes turned to the right, a middle-aged man with a square face reached over with a smile and said, "I'm Goh-joon, I'm the first time I met, please take care of me."
Miyashita Kita first bowed slightly to the other party according to etiquette, then shook hands with the other party, and said: Please take care of him
Mr. Akamoto, please, Gu Benjoon made a gesture to the direction of the entrance of the building and said, "I heard that Mr. Akamoto was coming to Seoul before, so my brother intended to meet him. It was originally a very good opportunity tonight, but unfortunately, two hours ago, he received an invitation from the Blue House, so he had to come a while later."
Mr. Honshita is so polite. Miyashita Kita said with a smile, "I didn't think I would do a big fantasy when I came to Japan this time, but I still feel honored to receive Mr. Honshita's invitation."
Mr. Akamoto, at this moment, a short middle-aged man beside Gu Benjun spoke, "Do you have any projects to investigate when you come to Seoul this time?"
Miyashita Kita looked at the middle-aged man, but he felt that the other person seemed familiar, but he couldn't remember where he had seen him.
Mr. Akamoto, this is the director of Ichiro Yoshida of ‘TDK’. Gototsu introduced for him that we are currently negotiating with TDK about the production cooperation projects of capacitors. Mr. Yoshida is the representative of TDK.
TDK refers to Tokyo Electrical and Chemical Industry Co., Ltd., a giant in the electronics industry, and even in the world, it is ranked first.
The current situation in South Korea is actually similar to China's two thousand years ago. The economy is moving from labor-intensive industries to capital and technology-intensive industries, but the range of actions is not that large, and the introduction of technology seems to be subtle.
When Gomotoshi mentioned TDK, Miyashita Kita thought about this familiar Ichiro Yoshida. He had indeed seen this guy before. The other party had negotiated with him on behalf of TDK, with the purpose of purchasing two patents he had.
It turned out to be Mr. Yoshida. Miyashita Kita made a sudden expression and said, "The last time I met, it seemed that I was in Tokyo. At that time, Mr. Yoshida's eloquence made me admire him very much."
Mr. Akamoto has won the award, Yoshida Ichiro said with a smile
However, when I came to Seoul this time, I had no idea of investing in any projects. Miyagi Kita nodded and continued, at least not yet. Of course, the specific situation needs to be seen again. Nowadays, South Korea's economy is developing rapidly and investment opportunities are everywhere. If there are any good projects, I will not miss it.
As he spoke, the group walked into the front door of the bank
Oh, if Mr. Akamoto is really interested in investing in some projects with good prospects, then our Daewoo should be a good choice. Someone said in the crowd on the side.
Miyashita Kita slowed down and glanced at the person who was talking
The person who spoke was a young man who looked in his early thirties, tall and handsome, more like a star than a businessman
Mr. Akamoto, this is Mr. Choi Hyun-joo from the Overseas Business Department of Daewoo Group. Gu Benjoon frowned unconsciously, but soon stretched out again. He introduced to Miyashita Kita
It turned out to be Mr. Cui. Miyashita Kita pursed his lips and smiled. I heard that your company has just formulated a five-year development plan, which is ambitious. If I have the opportunity, I will seriously consider cooperating with your group.
He said this, but in his heart, Miyashita Kita contemptted him. Others may not know the situation of Daewoo Group, but can he still not know?
The billboard on the building beside the street is painted with images of Michael Jackson. This world's top king will hold his world tour in Seoul three days later. It is said that all the tickets for the concert have been sold out, and even rich people have specially published on the newspaper to purchase tickets for the concert at a high price.
This is a city full of vitality, and it is also a country full of vitality. Since the economic takeoff in 1993, the per capita income of Koreans has exceeded 10,000 US dollars, up to 13,000 US dollars.
Although such a standard cannot be compared with Japan, where the per capita income exceeds US$30,000, it is considered the best in the entire East Asia and Southeast Asia, and is known as the first of the four Asian dragons.
Unlike the lifeless economy and society in Japan today, South Korea's economic atmosphere is still generally upward, and the people are very positive and optimistic. They think it is only a matter of time for their country to catch up with Japan.
Yes, among the three East Asian countries today, China, the largest in size, has not been seen by the world. Whether in the eyes of Japanese or Koreans, the former sect leader seems to have become useless except for its vast territory and large population.
But as a rebirth, Kita Kitani of Miyagi knew very well that the behemoth on the west coast of the Ocean was watching the so-called economic dispute between South Korea and Japan indifferently, while chasing forward with firm steps.
In addition, Korea, which is now full of joy and confidence, will not be happy for long. The American father will soon tell them that no one can be spared under the avalanche.
As a practitioner in the financial industry, Kita Kita is still sensitive to economic data. In his opinion, South Korea has actually been sitting on the explosive barrel. The reason why the thrilling explosion has not come yet is because the fuse has not yet burned out, that's all.
Similar to the situation in Japan, South Korea is also facing a serious financial crisis today. More than half of the top 35 large banks are troubled by astonishing bad debts, which is enough to collapse the entire Korean financial industry and are already eager to try.
In fact, compared with Japan's financial problems, the disadvantages of the Korean financial industry are more serious, and these disadvantages are entirely caused by the South Korean government. Its originated from the great economic development that began in the early 1990s.
South Korea has been promoting the process of financial liberalization since the early 1990s, but the government's interference in the financial industry has not been reduced at all. Moreover, the government's interference in the financial industry has a basic starting point, that is, to promote the high domestic investment rate and administratively promote the continuous expansion of credit scale.
The management of large commercial banks in South Korea is basically appointed or directly appointed by the government. Under the leadership of the government, these large commercial banks provide amazing loans to large chaebols in South Korea through the two banks, the Korea Development Bank and the Korea Export-Import Bank, to help them develop.
The worst thing is that this lending process lacks sufficient supervision, and the government either openly or secretly endorses the big chaebols to help them borrow high amounts of funds from banks. The bank lacks sufficient credibility analysis and risk control for each loan. The ultimate consequences are not only problems such as excessive loan risks and insufficient bank principal, but also a series of violations such as lending arbitrage.
The biggest problem with South Korea's economy today is that the average borrowing and equity ratio of the top 30 large chaebols and enterprises actually exceeds 500%. What does this mean?
That is to say, the liabilities of these companies have exceeded their equity several times
Such high debt not only drains the profits of the company, but also makes these companies extremely dependent on bank lending. Once the bank's funds cannot be supplied, these companies will be counted as one, and no one can escape the fate of bankruptcy.
To put it bluntly, the problem of South Korea's economy, in the final analysis, is that the government and the chaebol reached a consensus, and the two sides conspired to drain the country's assets and the people's savings.
If the Japanese financial world is a muddy pond, then the Korean financial world can only be described as a cesspool.
In the pouring rain, the convoy slowly drove into the vestibule of Shinhan Bank Building 1, Itaewon, drove up along the gentle slope in front of the building, and finally stopped directly at the entrance of the building.
At this time, more than twenty people were waiting there under the rain-covered eaves in front of the building. When he saw the car in Miyagiki stopped, a young man in a straight suit came up and opened the door for Miyagikiki.
Mr. Akamoto, welcome you. It is an honor for us, Xinhan Bank, and an honor for each of us. The young man bowed his body and bowed to Miyashiki Kita who was sitting in the car. His pretty handsome face was full of smiles.
Kita Miyashita came out of the car, looked at the young man and smiled, then turned his gaze to the right, where there were more people waiting to say hello to him
Today is the second day after the arrival of the Minatoshita Kita in Seoul. He received an invitation early in the morning, and Xinhan Bank invited him to attend a charity party tonight.
Although this invitation represents Shinhan Bank, the invitation is Gu Benjun, the current vice president and CEO of LG Commercial.
The name Gu Benjoon is not well known in Korea today, but this person has a deep background. He is the grandson of LG Group founder Gu In-ho, and is brother to LG's current president Gu Ben-mo.
Tonight's charity party is aimed at raising funds for children with leukemia. The organizer is Xinhan Bank, and the invited guests are from celebrities from all walks of life in South Korea, including some foreign-funded enterprises.
To be honest, Miyashita Kita has no interest in such so-called charity parties, but there is a word called "Friendship is hard to refuse." After all, the invitation letter is delivered to your hands. If you can't hold on, it will only make people feel unhappy.
Miyashita Kita is not a kid, he will not do anything that offends people everywhere.
Mr. Akamoto, as Miyashita Kita's eyes turned to the right, a middle-aged man with a square face reached over with a smile and said, "I'm Goh-joon, I'm the first time I met, please take care of me."
Miyashita Kita first bowed slightly to the other party according to etiquette, then shook hands with the other party, and said: Please take care of him
Mr. Akamoto, please, Gu Benjoon made a gesture to the direction of the entrance of the building and said, "I heard that Mr. Akamoto was coming to Seoul before, so my brother intended to meet him. It was originally a very good opportunity tonight, but unfortunately, two hours ago, he received an invitation from the Blue House, so he had to come a while later."
Mr. Honshita is so polite. Miyashita Kita said with a smile, "I didn't think I would do a big fantasy when I came to Japan this time, but I still feel honored to receive Mr. Honshita's invitation."
Mr. Akamoto, at this moment, a short middle-aged man beside Gu Benjun spoke, "Do you have any projects to investigate when you come to Seoul this time?"
Miyashita Kita looked at the middle-aged man, but he felt that the other person seemed familiar, but he couldn't remember where he had seen him.
Mr. Akamoto, this is the director of Ichiro Yoshida of ‘TDK’. Gototsu introduced for him that we are currently negotiating with TDK about the production cooperation projects of capacitors. Mr. Yoshida is the representative of TDK.
TDK refers to Tokyo Electrical and Chemical Industry Co., Ltd., a giant in the electronics industry, and even in the world, it is ranked first.
The current situation in South Korea is actually similar to China's two thousand years ago. The economy is moving from labor-intensive industries to capital and technology-intensive industries, but the range of actions is not that large, and the introduction of technology seems to be subtle.
When Gomotoshi mentioned TDK, Miyashita Kita thought about this familiar Ichiro Yoshida. He had indeed seen this guy before. The other party had negotiated with him on behalf of TDK, with the purpose of purchasing two patents he had.
It turned out to be Mr. Yoshida. Miyashita Kita made a sudden expression and said, "The last time I met, it seemed that I was in Tokyo. At that time, Mr. Yoshida's eloquence made me admire him very much."
Mr. Akamoto has won the award, Yoshida Ichiro said with a smile
However, when I came to Seoul this time, I had no idea of investing in any projects. Miyagi Kita nodded and continued, at least not yet. Of course, the specific situation needs to be seen again. Nowadays, South Korea's economy is developing rapidly and investment opportunities are everywhere. If there are any good projects, I will not miss it.
As he spoke, the group walked into the front door of the bank
Oh, if Mr. Akamoto is really interested in investing in some projects with good prospects, then our Daewoo should be a good choice. Someone said in the crowd on the side.
Miyashita Kita slowed down and glanced at the person who was talking
The person who spoke was a young man who looked in his early thirties, tall and handsome, more like a star than a businessman
Mr. Akamoto, this is Mr. Choi Hyun-joo from the Overseas Business Department of Daewoo Group. Gu Benjoon frowned unconsciously, but soon stretched out again. He introduced to Miyashita Kita
It turned out to be Mr. Cui. Miyashita Kita pursed his lips and smiled. I heard that your company has just formulated a five-year development plan, which is ambitious. If I have the opportunity, I will seriously consider cooperating with your group.
He said this, but in his heart, Miyashita Kita contemptted him. Others may not know the situation of Daewoo Group, but can he still not know?
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