Because of Henry, the entire Asia is more tragic than in previous lives. Henry borrowed a lot from every country, which caused the Asian financial crisis to become more serious. In Thailand alone, the Thai baht depreciated by more than 60% from January 1997 to December 1997, and Henry made $120 billion! If the Thai baht depreciates 100%, Henry's loan of 75 billion US dollars of Thai baht can earn half of that, or 37.5 billion US dollars.

Henry grabbed so much money at once. From then on, the Thai people's lives have become more difficult...

However, the more miserable countries are still to come.

Henry was the real black hand against Indonesia. From 1996 to 1997, Henry borrowed nearly US$100 billion in Indonesian rupiah from Indonesia. So far, the Indonesian rupiah has depreciated by more than 65%. However, this is far from the limit. In the Asian financial crisis, Indonesia was the most tragic one. At present, although the International Monetary Fund imf borrowed money from Indonesia to survive the temporary crisis, Henry knew that after the outbreak of the Korean financial crisis, Indonesia's financial turmoil would rise again, and Indonesia would face the worst economic recession in its history!

During the Asian financial crisis, many companies went bankrupt in other countries, but the big companies were so powerful that they barely survived. South Korea alone has closed down many large companies, such as the Kia Group, which ranked 8th, Halla Group which ranked 13th, Hanbo Group which ranked 14th, Jinro Group which ranked 19th, and Sanchez Group which ranked 26th. United States Group, Haitian Group and Korea Securities Company.

Why did so many large companies in South Korea close down? Frozen three feet is not a day's cold. As we all know, South Korea’s development model is very unique. The South Korean government has concentrated its superior resources to support some large companies to make them stronger and bigger. According to statistics, the top 30 business groups account for three-quarters of the total Korean economy. Imagine that South Korea is so big that there are less than one million corporate companies, but only 30 corporate groups account for three-quarters of the country's economy. This shows how terrifying the big Korean companies are!

Some people describe the life of Koreans as: birth, taxes, three stars!

This is the most appropriate description. For large companies like Samsung, the Korean government will continue to lend to these companies, allowing them to step into all industries, monopolize the entire Korean market, and cover everything. Crazy and even blind expansion has led to these companies’ debts being several times as high as their own assets. When the Asian financial crisis comes and South Korea’s foreign exchange reserves are exhausted, how can the South Korean government lend money to these companies? What? In the end, it can only go bankrupt!

The South Korean company went bankrupt, and Henry was naturally happy to see it. However, due to the conservative and exclusive economic market in South Korea, the South Korean government does not allow foreign investors to control more than 25% of South Korean listed companies. Even though many Korean companies went bankrupt, Henry could only watch and couldn't eat. However, the United States and Europe have long coveted South Korean companies. At this time, South Korea is suffering from a financial crisis. Wouldn't it take advantage of the fire?

In December 1997, the International Monetary Fund (imf) stated that imf can assist South Korea, but South Korea must sign some agreements, some of which appear to Koreans to be "deprivation of power and humiliation". There are many contents of the agreement, and two of them are very shameful to Koreans. One is: opening up the capital market and allowing foreigners to hold more than 50% of shares; the second is: lifting restrictions on foreigners' mergers with domestic companies, such as telecommunications and banks. Such monopolistic industries, while allowing the United States to establish bank branches.

Here, why does the International Monetary Fund imf help Europe and the United States pry into the Korean market?

The International Monetary Fund is actually a fund organization under the management of the United Nations, but to be more precise, it is a relatively independent joint-stock fund organization. Every country that joins imf initially has 250 shares of voting rights. Then for every $100,000 donated, one more voting right is given. If you want to have the right to speak in imf, you can only donate money to it. Up to now, imf has more than 200 billion U.S. dollars in capital.

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

When the Asian financial crisis broke out, imf was "fighting fires" everywhere. Do you really think it is that good? No, no, no, every country that receives "rescue" has to sign some agreements, don't even think about it, know which countries these agreements are beneficial to!

These agreements proposed by imf are about to cause an uproar in South Korea.

Many citizens put the word "imf" on toilets, cars, elevators and other places, and then step on them with their feet to show their aversion to imf. At the same time, there have been many demonstrations across the country to resist the vicious agreement of imf.

Kelena also worried about it. If the South Korean government does not sign an agreement with imf, then South Korea will be a tortoise shell. Even if it has money, it will 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.

At this time, South Korea has been in trouble, and the government must obtain funds to stabilize the economy.

Soon, the high-level South Korean government gathered in the presidential palace. After a day of negotiation, they finally decided to sign an agreement with imf to receive 57 billion US dollars in loan assistance.

On the day imf signed the agreement, a large group of companies from Europe and the United States went to South Korea and started looking for companies. For a time, many foreigners appeared on the Korean territory waving checks and shouting to buy this and buy that, and Koreans with extremely rich national pride set this day as "National Humiliation Day"!

At this time, to Henry's surprise, the Korean people actually organized spontaneously and launched the "collection of foreign exchange copper money." Citizens have raised their existing foreign exchange change to enrich the treasury to withstand the impact of the financial crisis~lightnovelpub.net~ and many people even donate gold and silver jewelry. You know, under the influence of Asian finance, prices in Korea have risen one after another. The prices of daily necessities such as flour, sugar, and edible oil have risen by 50%.

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

1998 will be the worst time for South Korean real estate, and the best time to buy bottoms is now. Global Land officially entered South Korea and purchased land in batches in Seoul, Jeju Island, Busan and other places. In fact, Global Land has also sent a large number of staff in Bangkok, Thailand, Singapore, Malaysia, Indonesia and other places, and only waited for the price to drop to the lowest level, and immediately put some good land in the bag. Since then, the name of Global Land will become more veritable!

In South Korea, the company Henry most wants to acquire is of course Samsung. However, Samsung is a super group supported by the South Korean government, and Henry cannot buy it. Since it can't be sold, it must be suppressed as much as possible. The South Korean government gave both funds and projects, almost helping Samsung to open up! Any company will be jealous and hated after seeing it.

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

(To be continued.)