NOVEL WEB The youngest son of the chaebol family, Mo Hyun-min
Chapter 110
With the news of the Blue House, the enterprises and chaebols of the entire stick country fell into a wail. The business bigwigs who participated in the meeting instantly sat on the wax! None of them expected that the government, which had encouraged (forced) them to borrow a lot of money to expand wildly, would now demand that they repay the loan as soon as possible. The reason is that the country providing overseas loans has sent a note asking to return it as soon as possible!
"Pay it back? What to give! Many bigwigs who came to the conference couldn't help but complain that in order to expand production and earn more profits in the past two years, most of these enterprises will earn profits back into the factory, increasing production lines and expanding scale has become their first choice. Who would have thought that there would be today?!
Among the bigwigs present, the most ugly faces were Daewoo Group and Shunyang Group. The former is because of his high debt, high leverage development model, can be called the best in the country of the stick, don't look at the current Daewoo Group unlimited scenery, can be called the most successful multinational enterprise in the country of the stick, even in the ranking of the world's top 500 enterprises is extremely high, but his family knows his own troubles.
In the past two years of crazy expansion, the entire Daewoo Group's capital chain has been very tight, and this sudden notice requires them to repay the loan, isn't this his life? With that little money on the books of their group, there is still a hammer left after the salary of the employees! Where does he have to scrape together so much money! Chairman Kim Woo-jung's face was dark.
(Note: The total liabilities of the 12 companies of the Daewoo Group exceed 70 trillion won, while all assets are less than 20 trillion won, which is more than 300% debt ratio!)
As for Chen Yangji of the Shunyang Group, his face was not good to see. In the past two years, in order to buy Handao Steel, it almost hollowed out the cash flow on the books of the entire Shunyang Group, but Handao Steel's liabilities of more than 4 trillion won have only been repaid by 2-300 billion yuan now. And after the acquisition of this "hot potato", it did not help much in the development of Shunyang Automobile.
Originally thought that without Handao Steel, the heavy industry company of Daying Group would suffer a heavy blow, but Zhu Yirong, the old fox, actually "hooked up" with the Miracle Group, relying on the other party's cold gold shipping, and purchased a large amount of steel and iron ore from overseas. This is really stealing chickens and not eroding rice!
Originally, I still felt that although my eldest son's ability was a little worse, at least the officer was still a little bold. Now that I think this guy is a waste! Spent so much money to buy such a thing, the food is tasteless, it's a pity to abandon it! Chen Yangji sighed faintly, fortunately, other subsidiaries of the group have made a lot of profits in the past two years, especially the performance of Shunyang Department Store in the past two years, so that the group's account balance has gradually increased. "As for paying back? Only part of it can be returned, anyway, there is more! The rest can only continue to owe first..." Chen Yangji had a headache, just that! Don't worry about more debt, let's take one step at a time!
Although other chaebols and companies do not have as high debts as Daewoo Group and Shunyang Group, the situation is not optimistic, and there is not much money left on the company's books, and it is impossible to repay all the loans. At the end of the
meeting, everyone walked out a little frustrated, although Yongsan and the Minister of Finance did not order them to immediately return all the loans, but they also understood that the money must be repaid, if it could not be repaid? ...... Plan ahead!
......
Looking at the crowd leaving, Yongsan was a little discouraged, forcing so many chaebols and enterprises to pay back, he is going to be the president, don't even think about it!
"It's just that these guys can really get so much money?" Kim Yong-san said with some loss, except for him, no president has ever been so sad, and during his term of office, he was urged by a bunch of state debts and demanded repayment, what kind of thing is this!
In the face of Yongsan's question, the Minister of Finance was silent, and he didn't know how to speak. What is the situation in these enterprises, and how can he not be clear? It's just that once the cruel truth is said, it will only hit the president in front of him hard, forget it, or don't say it, it's too heart-wrenching...
Looking at the silent finance minister, the physically and mentally exhausted Kim Yong-san already knows the answer, and it seems that most of them will eventually use foreign exchange reserves to tide over the difficulties. But can their foreign exchange reserves of less than $40 billion really withstand it? Those speculators are not good at it!
......
After the collapse of the Thai baht, the desperate government had to turn to the beautiful country-led IMF for help.
(Note: IMF is one of the international organizations established in Washington on December 27, 1945 under the IMF Agreement signed at the Bretton Woods Conference in July 1944.) It was established at the same time as the World Bank and is listed as the world's two largest financial institutions. Its responsibilities are to monitor currency exchange rates and trade among countries, provide technical and financial assistance and ensure the proper functioning of the global financial system.
After a week or so of urgent negotiations, officials finally reached an agreement with the IMF in early August 1997 on a $17.2 billion financing package, and immediately after that, steps were taken to structural reforms of banks and companies and ease restrictions on foreign ownership.
Under the IMF's program, the bailed Pacific government will allow greater participation by foreign capital in important sectors that have been opened. The most representative is that foreign companies are allowed to have controlling stakes in banking, financial and securities companies for up to 10 years. But it also stipulates that after 10 years, any stake in a foreign company that exceeds 49% must be sold back to Thai investors.
Faced with such blatant exploitation clauses, the cornered Taiguo official finally pinched his nose and confessed. After all, compared to being controlled by Western countries and foreign capital such as beautiful countries, being exploited, and better than the bankruptcy of the country, the domestic people will not be able to survive!
...... Seeing the fate of the
Tai Guo, the rest of the countries are even more panicked, they do not want to be exploited by Western countries, let alone the country bankruptcy. But it backfired. Soon, the currencies of Feibin and Indonesia, which are close to the Pacific country, were sniped by international speculators.
Originally not well funded, Fei Lubin, who relied on borrowing money to survive, faced the sniping attacks of speculators, and almost did not resist at all. From 1980 to 1993, the fiscal deficit of Filubin widened, reaching 330 million pesos in 1980 and 21.89 billion pesos in 1993.
In order to solve the problem of long-term fiscal deficits, FIRUBIN borrowed heavily from overseas countries and financial institutions. The already debt-laden Friebin had no extra money to defend against speculators' short-selling, and could only watch the exchange rate of the peso and the dollar fall below the fixed value. As a brother and brother, Indonesia is not much better, and the two countries have lost one after another without even holding on for half a month, and have successively lowered the exchange rate between their currencies and the US dollar.
"Pay it back? What to give! Many bigwigs who came to the conference couldn't help but complain that in order to expand production and earn more profits in the past two years, most of these enterprises will earn profits back into the factory, increasing production lines and expanding scale has become their first choice. Who would have thought that there would be today?!
Among the bigwigs present, the most ugly faces were Daewoo Group and Shunyang Group. The former is because of his high debt, high leverage development model, can be called the best in the country of the stick, don't look at the current Daewoo Group unlimited scenery, can be called the most successful multinational enterprise in the country of the stick, even in the ranking of the world's top 500 enterprises is extremely high, but his family knows his own troubles.
In the past two years of crazy expansion, the entire Daewoo Group's capital chain has been very tight, and this sudden notice requires them to repay the loan, isn't this his life? With that little money on the books of their group, there is still a hammer left after the salary of the employees! Where does he have to scrape together so much money! Chairman Kim Woo-jung's face was dark.
(Note: The total liabilities of the 12 companies of the Daewoo Group exceed 70 trillion won, while all assets are less than 20 trillion won, which is more than 300% debt ratio!)
As for Chen Yangji of the Shunyang Group, his face was not good to see. In the past two years, in order to buy Handao Steel, it almost hollowed out the cash flow on the books of the entire Shunyang Group, but Handao Steel's liabilities of more than 4 trillion won have only been repaid by 2-300 billion yuan now. And after the acquisition of this "hot potato", it did not help much in the development of Shunyang Automobile.
Originally thought that without Handao Steel, the heavy industry company of Daying Group would suffer a heavy blow, but Zhu Yirong, the old fox, actually "hooked up" with the Miracle Group, relying on the other party's cold gold shipping, and purchased a large amount of steel and iron ore from overseas. This is really stealing chickens and not eroding rice!
Originally, I still felt that although my eldest son's ability was a little worse, at least the officer was still a little bold. Now that I think this guy is a waste! Spent so much money to buy such a thing, the food is tasteless, it's a pity to abandon it! Chen Yangji sighed faintly, fortunately, other subsidiaries of the group have made a lot of profits in the past two years, especially the performance of Shunyang Department Store in the past two years, so that the group's account balance has gradually increased. "As for paying back? Only part of it can be returned, anyway, there is more! The rest can only continue to owe first..." Chen Yangji had a headache, just that! Don't worry about more debt, let's take one step at a time!
Although other chaebols and companies do not have as high debts as Daewoo Group and Shunyang Group, the situation is not optimistic, and there is not much money left on the company's books, and it is impossible to repay all the loans. At the end of the
meeting, everyone walked out a little frustrated, although Yongsan and the Minister of Finance did not order them to immediately return all the loans, but they also understood that the money must be repaid, if it could not be repaid? ...... Plan ahead!
......
Looking at the crowd leaving, Yongsan was a little discouraged, forcing so many chaebols and enterprises to pay back, he is going to be the president, don't even think about it!
"It's just that these guys can really get so much money?" Kim Yong-san said with some loss, except for him, no president has ever been so sad, and during his term of office, he was urged by a bunch of state debts and demanded repayment, what kind of thing is this!
In the face of Yongsan's question, the Minister of Finance was silent, and he didn't know how to speak. What is the situation in these enterprises, and how can he not be clear? It's just that once the cruel truth is said, it will only hit the president in front of him hard, forget it, or don't say it, it's too heart-wrenching...
Looking at the silent finance minister, the physically and mentally exhausted Kim Yong-san already knows the answer, and it seems that most of them will eventually use foreign exchange reserves to tide over the difficulties. But can their foreign exchange reserves of less than $40 billion really withstand it? Those speculators are not good at it!
......
After the collapse of the Thai baht, the desperate government had to turn to the beautiful country-led IMF for help.
(Note: IMF is one of the international organizations established in Washington on December 27, 1945 under the IMF Agreement signed at the Bretton Woods Conference in July 1944.) It was established at the same time as the World Bank and is listed as the world's two largest financial institutions. Its responsibilities are to monitor currency exchange rates and trade among countries, provide technical and financial assistance and ensure the proper functioning of the global financial system.
After a week or so of urgent negotiations, officials finally reached an agreement with the IMF in early August 1997 on a $17.2 billion financing package, and immediately after that, steps were taken to structural reforms of banks and companies and ease restrictions on foreign ownership.
Under the IMF's program, the bailed Pacific government will allow greater participation by foreign capital in important sectors that have been opened. The most representative is that foreign companies are allowed to have controlling stakes in banking, financial and securities companies for up to 10 years. But it also stipulates that after 10 years, any stake in a foreign company that exceeds 49% must be sold back to Thai investors.
Faced with such blatant exploitation clauses, the cornered Taiguo official finally pinched his nose and confessed. After all, compared to being controlled by Western countries and foreign capital such as beautiful countries, being exploited, and better than the bankruptcy of the country, the domestic people will not be able to survive!
...... Seeing the fate of the
Tai Guo, the rest of the countries are even more panicked, they do not want to be exploited by Western countries, let alone the country bankruptcy. But it backfired. Soon, the currencies of Feibin and Indonesia, which are close to the Pacific country, were sniped by international speculators.
Originally not well funded, Fei Lubin, who relied on borrowing money to survive, faced the sniping attacks of speculators, and almost did not resist at all. From 1980 to 1993, the fiscal deficit of Filubin widened, reaching 330 million pesos in 1980 and 21.89 billion pesos in 1993.
In order to solve the problem of long-term fiscal deficits, FIRUBIN borrowed heavily from overseas countries and financial institutions. The already debt-laden Friebin had no extra money to defend against speculators' short-selling, and could only watch the exchange rate of the peso and the dollar fall below the fixed value. As a brother and brother, Indonesia is not much better, and the two countries have lost one after another without even holding on for half a month, and have successively lowered the exchange rate between their currencies and the US dollar.
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