Chapter 496: Goryeo 4
"We have the best people in the world, and in the past 30 years, Goryeo has won one victory after another, and we have become the youngest and most dynamic developed country in the world from a poor and weak country with a per capita GDP of less than $100 to a joint efforts of all the people. Any adversary who wants to despise us will pay a heavy price. β
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"As the President of the Republic of Korea, I must apologize to the people for not expecting the international speculators to be so mad and trying to replicate their greed in Southeast Asia in Goryeo. β
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"I have authorized the usury banks to drive out these invaders at all costs and make them suffer real hardship. β
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"The latest economic reform package will be discussed in the Diet tomorrow, and I hope that all parties will focus on the overall situation and move forward with the reform plan in mind. β
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"What do you think of Kim Yong-san's speech?" asked a kind-eyed old man in a slow voice.
Woo Tae-hee completely lost the flamboyance just now, sat on the chair with the little buttocks, and said respectfully: "Teacher, I think this is an empty city plan, and Kim Yong-sam is just bluffing." β
The old man smiled: "You're right, now that our Goryeo economy has reached the edge of the cliff, crumbling, and there is still a general election in a few months, Kim Yong-san's only idea now is to spend the general election safely and pave the way for his chosen successor." β
Woo Tae-hee nodded: "Yes, but the economic reform plan proposed by Lin Changyeol is really to the point, and the Congress has been pressing it for a long time, and Kim Yong-san's televised speech is undoubtedly putting pressure on the Congress to pass this economic reform plan as soon as possible." But even if this plan is passed, it is unlikely to be effective in a short period of time, and Kim Yong-sam will step down in half a year, just afraid that people will die at that time. β
The old man said with a smile: "Approved by the Congress? He still has half a year to take office, I'm afraid that the Congress will not pass it so easily, right?"
Yu Taixi's eyes flashed: "Teacher, I understand, I will arrange." β
The old man nodded with satisfaction: "Kim Yong-sam's current support rate is still very high, if he can survive this crisis, our United Democratic Party will still be the foil of the New Korea Party in the next election." Therefore, we must make him a national sinner, so that the image of the entire New Goryeo Party in the hearts of the people will be completely shattered, and we will have a chance of winning the general election at the end of the year. β
Woo Tae-hee nodded and said, "I understand, teacher, this plan will not be approved, and Kim Yong-sam must be allowed to accept IMF assistance." β
The old man nodded slightly: "Okay, please, in the general election at the end of the year, I will run as the president of the United Democratic Party, and I will help you accumulate good contacts and reputation during my term of office to prepare for your next election." β
Woo Tae-hee was overjoyed: "Thank you, teacher!"
This old man is none other than Kim Dae-jung, the leader of the largest opposition party, the United Democratic Party.
Kim Dae-jung looked at the TV: "Kang Kyung-sik should be removed from his post tomorrow, right? Kim Yong-sam should appoint Lim Chang-yeol to take over this position, you don't need to stop it, just stop the reform plan he proposed." β
Woo Tae-hee nodded yes and was about to say goodbye and leave, when Kim Dae-jung suddenly called Woo Tae-hee: "Tae-hee, remember, we are all for Goryeo, and this country has reached a moment where it has to change." β
Woo Tae-hee nodded solemnly.
Kim Yong-san's speech and the intervention of the central bank temporarily stabilized the situation, and on the second day, the bulls and bears of the foreign exchange market and the stock market engaged in a fierce battle, and by noon, the Goryeo exchange rate had rebounded to the level of 910:1, recovering some of the lost ground.
Goryeo's 24-hour news is always paying attention to the changes in the exchange rate market, in everyone's mind, 900:1 is a dividing line, if today, can pull the Korean won exchange rate back to within 900, it is tantamount to a shot in the arm, proving that the Korean economy can still be saved!
And Zhang Chen is still continuing to exchange US dollars with Gaoli Central Bank, so far, he has exchanged 2.5 billion US dollars and US dollar bonds, and at the same time, he is also secretly anxious, why Soros still hasn't done it.
The situation changed at 2 p.m., when KBS News announced that the new economic reform plan had not been discussed by the Diet and was put on hold until the general election in December ended.
It wasn't even discussed, let alone passed.
As soon as this news came out, it was equivalent to a bombshell falling on the Korean market, and at the same time, there were as many as 3 trillion won of empty orders in the market at one time.
Zhang Chen understood that the Quantum Fund and the Tiger Fund were starting to do it.
Zhang Chen immediately instructed Jiang Ping to fill the empty order and exchange all the remaining Korean won into US dollars.
At 15:00, the closing bell rang.
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The ratio of the Korean won to the US dollar exceeded 1,000 for the first time in five years!
"I apologize to all the people for the failure to pass the new economic reform plan by the National Assembly, and I should take full responsibility, and Minister Kang Kyung-sik and Chief Economic Secretary Kim In-nok have submitted their resignations to me, and I am confident that as long as all the people are united and full of the spirit of Goryeo, Korea will be able to overcome this difficult time!"
Dr. Lim Chang-yeol said that in place of Minister Kang Kyung-sik, the government will use the fastest time to launch a new package of solutions that will not disappoint the expectations of the people. β
Yoon Seung-hyun looked at Kim Yong-sam who bowed repeatedly on TV, and there was an indescribable feeling in his heart.
"There's nothing to do but apologize?"
"Dad, I asked you to exchange dollars yesterday, did you change them?" Yin Chengxuan suddenly remembered some colleagues in the office today who were crying wolf but were very happy, they were all those people with a keen sense of smell and exchanged assets for dollars in advance.
And these people all have a common characteristic, that is, they all have some connections with big chaebols or high-ranking government officials.
According to them, many people have already converted at least half of their deposits into dollars at the first time, and those who did not exchange dollars have also bought a lot of gold as a hedge.
Yin Yuanbin's eyes widened: "You bastard, we are Koreans, what dollars are exchanged! It is said on TV that every dollar exchanged is providing ammunition to these enemies of our country, how can you do such a thing!"
Yoon Seung-hyun argued: "However, the seniors of our company are all exchanging dollars, even the president... β
"Bastard!" Yin Yuanbin slammed the half-eaten white rice bowl in his hand on the dining table, "They are all Goryeo traitors! These mongrel traitors are so unbelievable! Just a few days later, they only think of themselves! If I were twenty years younger, I would definitely beat them to the point that their noses and faces were swollen! You are a financial company in Goryeo, so you should stand on the side of Goryeo! Also, if you say such things again, you will not be my son!"
Yin Chengxuan didn't dare to argue with his father anymore, so he quickly lowered his head and admitted his mistake, but sighed in his heart.
Maybe because of this, my father is poor, and people like Kim Dong-ho and that kind of family can become rich.
"President, we now have less than $10 billion in foreign exchange reserves at our disposal. Under the current circumstances, I may not be able to hold on for a day tomorrow!" Lim Chang-yeol, who had just taken over as finance minister, eagerly said to Kim Yongsan, he knew what kind of mess he had taken over, and if he did not get foreign aid, Goryeo's bankruptcy was almost a foregone conclusion. At that time, 30 years of economic construction will be ruined, and it is very likely that the situation of the military ducai 20 years ago will be repeated, and Goryeo will be finished.
Kim Yong-sam hesitated, his term of office is about to expire, according to the Goryeo Constitution, he cannot participate in the next election, these months are his curtain call on the political stage, although now it seems that it is impossible to get out of the country, but if he accepts the IMF's conditional assistance, even if he saves the country, he will become a sinner and traitor of the entire nation, and will be reviled by everyone.
Kim Yong-sam thought for a long time: "Wait a little longer, I will now make a request for assistance to Prime Minister Hashimoto and President Clinton of the United States. In addition, it is necessary for the media to point the finger at international speculators. β
Lin Changlie sighed, he knew that maybe after tomorrow, there would be no chance to save the market. Now that Dongying has been affected by the Goryeo crisis and has been exhausted to take care of itself, how can it be possible to provide assistance to Goryeo? As for the United Statesγγγγγγ
Mr. Lim also cannot predict whether the United States will bail out Goryeo, but the central bank has communicated privately with the Federal Reserve several times and hopes are similarly slim.
Three years ago, the United States warned about the economic structure of Goryeo, but at that time, everyone was hot-headed, and even ridiculed the Americans for fearing that Goryeo's economy would surpass that of the United States, and some people openly clamored that it would become the world's largest economy by 2010, surpassing the United States.
God knows how these megalomaniacs came up with this.
As for letting the media point the finger at international speculators, this is really ridiculous, and this crisis may only involve international speculators in a total of less than one billion dollars, and at most no more than two billion dollars, and it may even be just a tentative attack.
Gaoli, who is known as surpassing the United States in 2010, did not even block the opponent's tentative attack, and a jab actually became a KO.
At this point, Lin Changlie could only beat his spirit, "I understand, I will try to delay time, and you must also be mentally prepared, if we can't get the aid commitment of the two countries tomorrow morning, our available foreign exchange reserves will be lost." β
I went on a business trip until next Wednesday, and I tried to make sure that I kept changing it during the period, and I really did my best, and you can see it when you look at the update time every day.
(End of chapter)