Silicon Valley

Because of Henry, the whole of Asia is even more tragic than in the previous life. Henry borrowed a lot from every country, which led to the worsening of the Asian financial crisis. In Thailand alone, the Thai baht depreciated by more than 60% from January 1997 to December 1997, and Henry earned 10 to 20 billion US dollars! If the baht were to depreciate by 100%, Henry would earn half of the $75 billion in baht borrowed, or $37.5 billion.

Henry grabbed so much money at once, and the Thai people have been living in more troubles since then...

However, even worse countries are yet to come.

It was Henry who really played a trick on Indonesia. From 1996 to 1997, Henry borrowed nearly US$100 billion in Indonesian rupiah from Indonesia. The rupiah has lost more than 65% of its value so far. However, this is far from the limit. During the Asian financial crisis, Indonesia was the most miserable one. At present, although the International Monetary Fund IMF borrowed to Indonesia to survive the crisis for a while, Henry knew that after the Korean financial crisis broke out, Indonesia's financial crisis will resume, and Indonesia will face the worst economic recession in history!

During the Asian financial crisis, many companies in other countries went bankrupt, but the big companies were so powerful that they barely survived. South Korea alone has closed down many large companies, such as Kia Group at No. 8, Halla Group at No. 13, Hanbo Group at No. 14, Jinro Group at No. 19, and Sanro Group at No. 26. America Group, as well as Haitian Group and Korea Securities.

Why are so many big companies closing down in South Korea? Freezing three feet is not a day's cold. As we all know, South Korea's development model is very unique. The South Korean government concentrates its superior resources to support some large companies to make them stronger and bigger. According to statistics, the top 30 enterprise groups account for three-quarters of South Korea's total economic output. Imagine that South Korea is so big that there are at least one million enterprises, but only thirty enterprise groups account for three-quarters of the country's economy. This shows how terrifying the big companies in South Korea are!

Some people describe the life of a Korean as: birth, taxes, Samsung!

And such a description is the most appropriate. For large companies like Samsung, the Korean government will continue to lend to these companies, allowing them to set foot in all industries, monopolize the entire Korean market, and cover everything. Crazy and even blind expansion has resulted in the debts of these companies being several times higher than their own assets. When the Asian financial crisis came and South Korea’s foreign exchange reserves were exhausted, how could the South Korean government lend money to these companies? Woolen cloth? In the end, it can only close down!

Henry is naturally happy to see the Korean company going bankrupt. However, due to the relatively conservative economic market in South Korea, the South Korean government does not allow foreign investors to hold more than 25% of South Korean listed companies. Even though many Korean companies went bankrupt, Henry could only watch and eat. However, the United States and Europe have been coveting Korean companies for a long time. At this time, South Korea is facing a financial crisis. Wouldn't it take advantage of it?

In December 1997, the International Monetary Fund (IMF) said that the IMF could help South Korea, but South Korea had to sign some agreements, some of which seemed to South Koreans to be "disgraced and humiliating". There are many contents of the agreement, among which there are two main points that make South Koreans feel very humiliated. One is: opening the capital market and allowing foreigners to hold more than 50% of the shares; the other is: lifting restrictions on foreigners merging domestic companies, such as telecommunications, banks, etc. Such monopolistic industries, while allowing the establishment of bank branches in the United States.

Here, why does the International Monetary Fund (IMF) help Europe and the United States to pry open the Korean market?

The International Monetary Fund is actually an IMF under the management of the United Nations, but more precisely, it is a relatively independent shareholding IMF. Each country that joins the IMF initially has 250 voting rights. Then for every $100,000 donated, you get 1 more vote. If you want to have a voice in the IMF, you can only donate money to it. As of now, the IMF has more than $200 billion in funds.

Among them, Europe and the United States occupy the majority. Basically, the IMF is what they say.

When the Asian financial crisis broke out, the IMF was "fighting fires" everywhere. Do you really think it is that good? No, no, no, every country that gets "relief" has to sign some agreements, and you don't need to think about it, which countries benefit from these agreements!

The agreements proposed by the IMF are quickly causing an uproar in South Korea.

Many citizens posted the word "IMF" on toilets, cars, elevators and other places, and then stepped on them to show their dislike of the IMF. At the same time, there have been many demonstrations across the country against the IMF's vicious deal.

Karina also worried that if the South Korean government did not sign an agreement with the IMF, South Korea would be a tortoise shell, and even if it had money, it would not be able to open its shell...

However, Henry smiled slightly and was not worried at all. History has proved that South Korea will definitely sign it.

At this point in South Korea, the wind and the rain have fallen, and the government must get funds to stabilize the economy.

Soon, the high-level Korean government gathered at the presidential palace. After a day of deliberation, they finally decided to sign an agreement with the IMF to accept a loan assistance of 57 billion US dollars.

On the day the IMF signed the agreement, a large group of European and American companies came to South Korea and began to look for companies. For a time, many foreigners waved cheques and shouted to buy this, buy that, and Koreans with extremely rich national self-esteem designated this day as "National Shame Day"!

At this time, what surprised Henry was that the Korean people spontaneously organized and launched a "collection of foreign exchange copper coins". Citizens have raised their existing foreign exchange change to enrich the treasury to resist the impact of the financial crisis, and many even donated gold and silver jewelry. You know, South Korea is affected by the Asian financial situation, but prices have risen one after another. The prices of daily necessities such as flour, sugar, and edible oil have all risen by 50%.

Although the spirit of the Korean people working together to overcome the difficulties is quite touching, Henry will not give up searching for the wealth of South Korea because of this.

1998 will be the most sluggish time for South Korean real estate, and this is the best time to look for bargains. Global Land officially entered South Korea, and purchased land in bulk in Seoul, Jeju Island, Busan and other places. In fact, Global Land also dispatched a large number of staff in Bangkok, Thailand, Singapore, Malaysia, Indonesia and other places, and only after the price fell to the lowest level, they immediately took some good land into their pockets. From now on, the name of Global Landmark will become more worthy of its name!

In Korea, the company Henry wants to acquire the most is of course Samsung. However, Samsung is a super group supported by the Korean government, and Henry can't buy it at all. Since it can't be sold, it must be suppressed as much as possible. The Korean government has given both funds and projects, almost helping Samsung to hang up! After any company sees it, they will be envious and jealous.

But now, South Korea has no money, and Samsung is in debt. If we don't cut it severely at this time, when will we wait?

(To be continued ~^~)