Chapter 618: The Central Bank of Korea

The convoy arrived at the place, and Masayoshi Kishimoto walked into this new hotel that had been replaced by Hidetaka Sato’s decision. He was a man who had experienced all the big storms and waves, and he was not going to be at all concerned about some small storms and waves.

After entering his suite, Masayoshi Kishimoto continued to habitually stand in front of the floor-to-ceiling glass window and look at the view of the city while thinking about the problem.

The national character of the Koreans is characterized by a sense of rashness, ruthlessness and impulsiveness. From the Korean law can be a glimpse of the truth.

The first time a Korean kills a person, he will not be sentenced to death, but is usually sentenced to twelve years in prison. In the eyes of many people, to kill a person sentenced to such a light, is really a criminal’s paradise.

In fact, it is because the Koreans have a national character of impulsiveness, they believe that the responsibility can not be attributed entirely to the Koreans of this behavior itself, but the genes of the Koreans lead.

This is different from the stoicism of the Japanese national character. Also, don’t be mistaken to think that if you are sentenced by the judge to 12 years, you will be out in no time to regain your freedom.

Korean society has a very good credit system. If there is a stain, especially a serious one, on a person’s resume, he or she will really experience the coldness of Korean society, and life is worse than death.

A murderer like this one, who was sentenced to twelve years and released, will never be cleared in his life. Getting a job, as long as it’s a proper line of work won’t work. When one lives, one must necessarily have a job.

Credit cards, guarantees, whatever, they all don’t count. To a certain extent, personal credit is already bankrupt.

Korea is an export-oriented economy. Its economic development is not based on domestic demand, but on exports.

Once the world economy is weak or with a major country in the world foreign trade friction, will immediately negatively affect the growth rate of the national economy, directly to some related industries in the ordinary Koreans feel the pressure of possible unemployment.

Masayoshi Kishimoto flew all the way from Tokyo, Japan to Seoul, Korea this time, definitely not for sightseeing. He had only one purpose, to make money.

It was in this very year that a credit card crisis would break out in Korea. This crisis will directly reduce 4 million Koreans to poverty.

How does one profit? The logic is simple, short the Korean financial market, especially short the banking sector which has credit card issuing business.

Small banks have the use of small banks, that is, so that the Hard Gold Group’s Hard Gold Bank can have a stronghold in South Korea.

However, it was not feasible at the moment; after all, the frog-hopping tactics one had developed were not fully established in any of the major cities in Japan.

There was no point in messing with the smaller Korean banks themselves. They would be too deep in the mire to pull themselves out of it in the middle of this credit card crisis, or even go bankrupt and fail.

The targets he was going to short were at least the top few big banks in South Korea. His own target is the Bank of Korea.

This is rather a kind of Soros’ replica of his sniping of the Bank of England, the central bank of the United Kingdom, back in the day. Himself was sniping the Bank of Korea, the central bank of South Korea.

Soros is shorting the British pound, while he is making a big deal in the field of credit cards, which is aimed at several big banks in South Korea.

South Korea’s generation is considered the most unlucky generation. South Korea’s economic rise was marked by the 1988 Seoul Olympics.

However, in 1997, South Korea was hit hard by the Asian financial turmoil. After five years of this, the credit card crisis would break out again in its own country.

During this period, banks were over-competitive in the credit card field, lowering each other’s lending rates in order to gain customers.

For example, a cardholder who owed money for 30 days could use a second card to obtain cash to repay the first card, thus creating a vicious circle.

Compared to 2000, the credit card market in Korea increased by 40.5% in 2002, and the amount of credit card credit has increased dramatically, while there is a huge risk implied.

In the second half of 2002, the delinquency rate of cash loans rose sharply, and bad debts increased. in September 2003, the total number of credit cards in Korea exceeded 100 million, with a credit balance of more than KRW 100 billion, and the number of bad credit holders exceeded 3 million, or 18% of the economically active population at that time.

In 2008, there was another financial crisis that swept the world. So, by around 2020, the poverty rate of elderly people in Korea is up to more than 50%, which means that one out of two elderly people is in poverty.

In order to survive, many elderly women, even though they are in their 60s and 70s, still use parks and other places to sell sex.

As for a number of men, they either choose to commit suicide or continue to work, also known as silver-haired people. They like to do delivery jobs. As for competitiveness, that’s the fact that public transportation such as the subway is free for people of their age.

The current generation of Koreans all came of age one by one without much of a chance to live the good life brought about by economic development. When they came of age, they were hit by financial crises one after another.

They were faced with the difficulty of finding a job. When they managed to find a job, they could not save much money because of their low income, and they even rashly invested their money in the financial market, resulting in a loss of money and heavy debts.

Korea’s low fertility rate is also due to the fact that too many ordinary Koreans have decided not to have children because they have seen their parents’ and grandparents’ difficult lives.

Even if they do have children, they cannot count on them in the future; after all, even they are not doing well, and their own families are struggling to make ends meet.

The Confucian culture that had been built up in Korean society began to disintegrate completely. The number of one-person households is increasing day by day.

As a result, the number of legal and illegal women who sell sex in Korean society is higher than in Japan.

Korean women’s requirements for the other half of the marriage partner’s money, his house, his job and many other requirements than the Chinese women is completely over, but no worse.

Every year, the Korean college entrance exam is also from the reality of all kinds of pressure. Only got into SKY University, that is, Seoul University, Goryeo University, Yonsei University, three universities in any one of them, will be treated as a person to see.

Because it will directly affect your future life direction, employment, marriage and so on. They are the upper middle class in Korean society.

A non-SKY university graduate can’t climb up the ladder even if he or she gets into the civil service after a lot of hard work. Let alone think about being able to get into Samsung, LG, and other big handful of companies in Korea as a full member of the society.

The rent in Seoul or Busan alone can stress out the average person. These two cities are home to half of Korea’s 50 million people.

The solidification of social class in Korea is even stronger than in Japan, and it is not too much to say that it is hereditary. Korea is not only a male-dominated society, but also a country with a strong hierarchy.