Text Chapter 933 Spoils Sharing Conference
After the official surrender of the South Korean government, the first IMF aid fund was officially received - 10.5 billion US dollars, which is not a lot, but it is really a relief for the situation in South Korea at that time.
You must know that at this time, the South Korean government has exhausted the last foreign exchange reserves in order to support the foreign exchange market, which is still falling, so this $10.5 billion aid is really too timely.
However, the situation is so rotten, and although the $10.5 billion in aid has solved the urgent need, it is really a drop in the bucket overall. Therefore, the South Korean government is quite eager for the subsequent aid of more than 40 billion US dollars, but at this time, the International Monetary Fund and the Federal Reserve are not in a hurry.
Obviously, after temporarily relieving the urgent need, the American consortium, which has made so much effort, is going to cut the meat from South Korea, so the South Korean government does not need to think about the remaining money without seeing tangible benefits.
In order to urge the South Korean government to fulfill its commitments, US Treasury Secretary Robert Rubin bluntly said that the IMF's follow-up assistance needs to depend on the satisfaction of the South Korean government's completion.
In other words, if the South Korean government does something that displeased the capitalists on Wall Street, the follow-up aid will be unknown. As a result, the South Korean government, which has been cornered, can only bite the bullet and go all the way to the dark.
And so, a grand and sinful spoils conference began......
Because South Korea is in the midst of a full-blown economic crisis, corporate closures have become almost commonplace, even for chaebols such as Samsung, LG, and Hyundai, not to mention other South Korean companies. Previously, due to foreign investment restrictions, although these South Korean companies went bankrupt one after another, Wall Street capital could only watch and could not penetrate into it.
Now, with the disappearance of the South Korean government's ban, it is like a wild horse that has been on the loose, and they have been fighting in industries and fields that they have been optimistic about for a long time.
The first to encounter the black hand was none other than the famous South Korean "pillar of the country" Samsung Group, which also suffered a heavy blow in this economic crisis. Now it's good, Samsung's fat immediately aroused everyone's covetousness, after all, being able to bite off a piece of meat from the Samsung consortium is definitely enough for yourself to eat for a long time.
However, Samsung is Samsung after all, after all, it is the "pillar of the country" of South Korea, and even if it encounters difficulties now, not all cats and dogs can go up and step on it. Therefore, those who can bite off the fat from Samsung are all real giants, and there is not a consortium standing behind it.
General Motors (GE) snatched the lighting business from the Samsung consortium, SC Johnson took over the pharmaceutical division, and even Volvo took a sip of the heavy industry business...... Therefore, for a while, the Samsung consortium seemed to be devoured by a hundred insects, and they all wanted to bite something from him. Fortunately, fortunately, the core electronics and semiconductors of the Samsung consortium, as well as electrical appliances and real estate, have not been affected. Otherwise, Samsung is really hurt, after all, elephants are afraid of so many ants to bite, not to mention, this time it is not ants that come to bite Samsung, all of them are fierce beasts.
There is no doubt that Samsung, the "pillar of the country" of South Korea, cannot escape the devouring of imperialist capital, let alone other conglomerates. As a result, General Motors rather shamelessly swallowed Daewoo Motors, a subsidiary of the Daewoo Foundation, which is simply shameless to the extreme.
You know, Daewoo Motors, a subsidiary of the Daewoo Consortium, is worth $6 billion, but General Motors only spent $400 million to take Daewoo Motors away - shameless, really shameless.
Anyway, after Su Chenyu got the news, he was jumping and scolding the street, because this guy also wanted Huaxia Automobile Company to swallow Daewoo Motors, but who would have thought of being a step slower. Therefore, Su Chenyu, a guy who "regards money as life", can he not pick up money and lose money, and when he sees General Motors taking such a big advantage, can he not jump and scold the street?
Therefore, this guy's face was gloomy for several days, and those who were familiar with him knew that Su Dashao was really angry. However, there is no use in being angry, GM is not another little minion, you can suppress it casually. Behind General Motors, there are two major consortia, Rockefeller and Morgan, even if Su Chenyu is confident, he is not confident enough to be tough on the two consortia at the same time, and it is just for a Daewoo Motors.
Hey, there is no way, I can only make up for it from other places, but fortunately, Su Chenyu is not without gains. Before, the reason why Su Chenyu didn't have time to take Daewoo Automobile into his pocket was because he was busy swallowing other "fat". Now, this piece of "fat" is basically cooked, and you can eat it right away.
However, before Su Chenyu had time to have a full meal, someone over there took away good things from South Korea!
Motorola actually managed to take 100% of the shares of South Korea's Appeal Telecom and take it under its umbrella, which is definitely a pretty fat cake. However, this was only the beginning, as Bell took a stake in South Korean telecommunications company Han Song, and even British Telecom took a slice of it.
However, these are just small cases, and soon, a big fat meat surprises everyone.
No one expected that Citibank Group would directly acquire Hanmi Bank, the second largest bank in South Korea, and turn it into a branch of Citibank in South Korea. Damn, this can be regarded as a complete detonation of Wall Street Capital's enthusiasm for the South Korean banking industry, because with Citi's jewel in front, there is nothing to learn from behind.
You know, the banking industry has always been the cornerstone of a country's finance, and now, who would have thought that South Korea would even open up the banking industry directly, and so openly. The current situation is not just a shareholding, but a wholly-owned acquisition, and Citibank is really off to a good start, directly allowing Wall Street bank capital to frantically attack major South Korean banks.
South Korea's major banks, such as the Kookmin Bank, Korea Foreign Exchange Bank, Hana Bank, and Shinhan Bank, have all been hit hard by foreign investment. Of course, Su Chenyu must be indispensable among them, and SS Financial Holdings is not a good man and a woman, so he naturally wants to take his share.
Moreover, SS Financial Holdings has gained a lot in this "spoils sharing conference......