Mirai Yamada walked in with his mobile phone in his hand, stood behind Masayoshi Kishimoto, and said at a normal pace: "There is a call from the Japanese Embassy in Seoul, South Korea. The president can provide you with the necessary help and consular protection if needed. ”

Kishimoto's first reaction was to think of Mark Twain's "Million Pounds", which had a similar scene in his head.

He crossed his hands on his chest, turned his back, and said with a smile, "If I were just an ordinary Japanese, would they still be so attentive?"

"It is precisely because the chairman is not an ordinary Japanese citizen that he receives special attention. Your safety is not only related to Japan's economy, but also to the jobs of tens of thousands of people. Mirai Yamada said bluntly.

"I'm just a mortal, not as important as you say. Kishimoto's smile did not change his course.

"President, you are so modest. The second thing is that KBS TV in South Korea wants to do an interview with you. Is it a rejection of this?" Yamada Mirai said seriously.

"Right now, I'm one of the least popular Japanese people in Korea. I won't accept interviews with their characters!"

On the one hand, Masayoshi Kishimoto doesn't like to be interviewed, and on the other hand, he is already sharpening his knife to the pig sheep. Of course, he wants to carry out a ransack of the South Korean economy. The knife in his hand was hungry and thirsty, and once it was raised high, it was bound to be slaughtered on a large scale.

"Understood. Mirai Yamada fully understood what the chairman meant.

"Do you use a credit card?" Kishimoto asked, not aimlessly, but purposefully.

Yamada replied succinctly, "Yes." ”

"Not only are you in the minority, but you're also stylish. Can you tell me about the pros and cons of credit cards?"

Kishimoto has long known that the personal use rate of credit cards in Japan is only 7%, while the personal use rate of credit cards in South Koreans is as high as 69% at this time.

The reason why it is the way it is today is due to the encouragement of the South Korean government and the Bank of Korea. After the Asian financial crisis in 1997, the South Korean government launched a series of policies to encourage the development of the credit card industry in 1999 in order to stimulate the economy by expanding domestic demand.

For example, the 700,000 won cap on cash advances will be abolished, and the restriction on cash loans (cash advances and credit card loans) not exceeding 50% of credit card receivables will be lifted.

Credit card spending is allowed to exceed 10% of personal income, of which 10% can be used as income tax relief, up to a maximum of 300 million won;

In 2001, the maximum amount was increased to 20% and 5 million won, respectively, and since 2000, receipts with a credit card purchase limit of 10,000 won or more can be redeemed, with a maximum cash prize of 100 million won.

For merchants, South Korea has also taken some measures to require them to accept credit card transactions, for example, merchants can participate in prize redemption up to a maximum of 20 million won, and merchants can deduct business value-added tax of 2% of the transaction amount up to 5 million won;

Merchants with annual sales of 24 million won or more must accept credit card transactions or face up to one year in prison or a fine of up to 10 million won.

Credit card companies have taken advantage of policies to encourage the indiscriminate issuance of credit cards, and a large number of members have been recruited to expand their operations, and unfair competition has begun to appear in the market, resulting in consumers using credit cards indiscriminately for excessive consumption and serious long-term debts.

Unlike Japan, Koreans do not use IC cards when taking subways and buses, but can use credit cards directly.

Even students with unstable or no income can also get a credit card. Looking at the number of credit cards issued in Korea alone, the average number of credit cards per Korean is 2.5.

In fact, excluding children and especially conservative people, the number of credit cards per Korean is at least 4 or 5.

In fact, the average number of credit cards for young people has reached as many as seven or eight, and many people even have as many as a dozen credit cards.

Why are banks keen to issue credit cards? Actually, the reason is simple: the profit margin is very large. Do you think they don't know that there will be a situation where the east wall will be demolished, the west wall will be repaired, and the card will be maintained?

They had expected a lot of people to do this, and they wanted to do it. Interest, late fees, handling fees, etc., the annual interest of a year is at least ten percent, generally in two or thirty percent.

Of course, the banks would never say that.

It will be reinvented to say that the interest rate is as low as 5/10,000 per day. A casual rough calculation of 0.05% (5/10,000) * 365 days = 18.25%. In fact, this is a simple interest calculation.

Compound interest is not calculated in this way, it is also called rolling interest, snowballing. The formula is F=P(1+i)^n. In addition, there is an even more difficult formula for calculating interest, PV*(1+r/n)^n=FV.

Masayoshi Kishimoto still remembers that when he was in college in his previous life, the first class of "Fundamentals of Accounting" was to talk about compound interest.

When a university lecturer talks about this, the biggest emotion is that compound interest calculation is one of the greatest inventions of mankind. In his opinion, he didn't know that one bastard invented such a deceptive thing.

As for usury, compound interest calculations are used even more bastardly. They used a concept called equal debt service.

It's deliberately distorted by them. For example, if you borrow 24,000 yuan, you will receive a handling fee of 2% monthly interest for one year, 24,000/12 + 24,000 * 2% = 2,000 + 480 = 2,480.

A total of 29,760 yuan for the whole year. After deducting the principal of 24,000, 5,760 yuan, the annual interest is 24%. However, this is not the case.

Their algorithm will be the 0th month, you get 24,000 yuan, and you owe 24,000 principal.

In the first month, you repaid 2,000 yuan + 24,000 yuan of interest 2%, and you still owe 22,000 yuan of principal.

In the second month, you repaid 2,000 yuan + 24,000 yuan of interest 2%, and you still owe 20,000 yuan of principal.

In the 3rd month, you repaid 2,000 yuan + 24,000 yuan of interest 2%, and you still owe 18,000 yuan in principal.

...... In the 12th month, you repay 2,000 yuan + 24,000 yuan of interest 2%, and you still owe 2,000 principal to be paid off within this month.

There is a problem that the 24,000 yuan is not used for a year and paid in a lump sum, but in installments. Each installment is calculated based on the interest on the principal amount of 24,000 yuan.

Even if in the last 12 months, there is only 2,000 yuan of principal left, it is still repaid according to the principal of 24,000 yuan and 480 yuan per month.

To put it another way, if you borrow 2,000 yuan, you have to pay back the interest of 24,000 yuan of principal, not 2,000 yuan.

The correct way to open should be that there is no problem in the first month according to the interest rate of 2% of 2,000 yuan + 24,000 yuan that you repaid.

Starting from the second month, you should have to pay 2% interest of 2,000 yuan + 22,000 yuan.

From the 3rd month, you should have to pay 2% interest at 2,000 yuan + 20,000 yuan.

...... At the beginning of the 12th month, you should be at the rate of 2000 yuan + 2000 interest.

In other words, your annual loan usage figure is not 24,000 yuan, but 13,000 yuan. (24,000 yuan + 22,000 yuan + 20,000 yuan ...... + 2,000) / 12 = 13,000 yuan. meaning

Wei paid 24,000 yuan for 13,000 yuan, with an annual interest of 24%. The true interest loan cost is 5,760 yuan divided by 13,000 yuan, and the annual interest rate is 44.3%, instead of the so-called 24%, which is nearly double the interest.

In practice, the 2% monthly interest rate of usury is already a low level. It's not a whole scam, it's just a scam and a lot of rubbish.