Chapter 363 Soros' visit to Korea (2)

  Park Xilai understood and firmly remembered Kim Dae-jung's words. It was not until Kim Dae-jung ascended the presidency that he began to work on the matter of Soros' visit to South Korea.

  January 1, 1998, Seoul, South Korea, the Blue House, which symbolizes presidential power.

   In front of hundreds of guests watching the ceremony and dozens of live cameras, Kim Dae-jung solemnly swore the oath to be the fifteenth president of the Republic of Korea, holding the constitution and facing the Taegeuk flag.

  In the ensuing inauguration speech, apart from the necessary stereotypes, Kim Dae-jung focused on the current economic crisis facing South Korea, and called on the people of the whole country to unite and overcome the current difficulties together.

  Although he didn't say it explicitly, in Kim Dae-jung's speech, he hinted several times that he might implement strong stimulus measures in the near future to restore investors' confidence. This cheered up the market, and both the Seoul stock market and the Korean won exchange rate rose a little.

  With the transfer of power, Park Hee-rae began to operate Soros's visit to South Korea after he no longer had to worry about the credit being taken away by others.

  …

Manhattan, New York.

  At the headquarters of the Quantum Fund, Soros was holding an invitation letter for gold-plating. He was a little hesitant, and he didn't know what to do.

It stands to reason that the president of a country invites him to visit South Korea in the name of an official, even the smallest country, but it is a great honor for an individual, and this individual does not have any official title, and this country is not unknown Small country, but the eleventh largest economy in the world.

   But Soros is not an extraordinary person after all, and he didn't have any sense of trepidation when he received the invitation letter. After all, he is now one of the most popular people in the world, and it can even be said to be the most popular person. However, what worries him is that he is still at the cusp of public opinion, and his rash appearance may cause even greater criticism. Of course, he is not afraid of these criticisms, but the subsequent chain reaction Can not but consider.

  Soros is too aware of his current state. As long as he or his people appear in a certain country, the market will speculate whether they want to short the country's currency. Although this is not necessarily his original intention, the market thinks so, and he has no way to change this speculation.

However, the current economic situation in South Korea is different. On the one hand, the current financial crisis has been temporarily stabilized due to the fact that South Korea has received assistance from IMF and other institutions one after another. It can be said that recovery is expected; but on the other hand, On the one hand, South Korea has just gone through a general election. It is still unknown what kind of posture the new government will take to save the South Korean economy, so the market is still waiting and watching.

In this way, South Korea's capital market is in a rare balance due to the delicate relationship between the two. Many economic indicators, including the exchange rate of the Korean won, are within a small fluctuation range. would upset this balance.

  The most important thing is that he has more important things to do now, which can be related to his performance this quarter.

  In the past quarter, due to the huge loss of investment in Indonesian rupiah, Soros had to lower his figure and write an e-mail explaining himself. Although no investors have withdrawn their funds, the feedback is that if absolute returns cannot be obtained in this quarter, many people plan to withdraw their funds.

   Against the background of Tiger Fund, the performance of Quantum Fund is indeed not so good, especially when both parties are macro hedge funds, and the scale of fund management between them is almost the same.

   After thinking hard for a long time, Soros still didn't decide whether to make the trip. In desperation, he could only find his most capable subordinate, Stanley Druckenmiller, to discuss and discuss.

"George, it's obviously a good thing for us. God, how can we pass up an opportunity to promote ourselves like this? From my point of view, of course you're going, and you're going to Seoul with a lot of fanfare." After listening to Soros's narration, Druckenmiller immediately became excited and said without hesitation.

Soros looked at the reaction of his subordinate, and felt very strange in his heart. You must know that Druckenmiller is a calm and steady guy. Although his investment style has become a little more aggressive in recent years, these are all due to his own influence. changed only next time. In Soros's heart, Druckenmiller is still a moody guy.

"Since you think so, tell me your reasons." The corners of Soros' mouth twitched a few times, and he asked blankly, and added at the end, "If the reasons are sufficient, I might consider visiting South Korea."

"Don't think about it, George." Druckenmiller shook his head slowly, "According to my understanding, South Korea has just undergone a regime transfer, and the new president wants to use your reputation to open up the situation. It is conceivable Yes. Since they can borrow our fame, then we can naturally borrow their names to do something for us."

Seeing the curious look in Soros' eyes, Druckenmiller continued to explain: "I have studied the South Korean economy during this time, and found that their economic foundation is still very strong. As long as there are enough US dollars to repay foreign debts, these South Koreans will The companies will survive. Now that the South Korean government has raised enough money, as long as they are determined to take over these companies, then everything will be fine."

“In September, the Prime Minister of Malaysia made us very embarrassed, he accused us of being thieves, stealing wealth from the pockets of their citizens, which is obviously not true. So we need to fight back and let the world know that we are It's helping them out of a backward, unsuitable system, not committing crimes against their citizens."

"Now that the South Korean side invites us, this is an excellent opportunity. As long as we say something that is beneficial to the South Korean economy in subsequent actions, I believe the current South Korean government will definitely thank us very much. This contrast will naturally be recognized by the market." In our eyes, although we have not refuted the statement of the Malaysian government, this contrast is the best proof that they are idiots."

After babbling and listening to a long conversation, Soros finally understood that this was to use the opportunity of visiting South Korea to achieve the purpose of countering the Malaysian government. Heart beat up. However, he was only moved for a moment, and he asked back: "This is not a problem. I have never paid much attention to the accusations made by the Prime Minister. In fact, even if we visit South Korea, there is no more benefit to speak of. To Knowing what you just said, the Korean economy is currently in a short-term stable state, and the investment risk is too great for us.”

"Yes!" Druckenmiller nodded approvingly. "However, George, if you choose to help praise South Korea, there is no doubt that investors will flock in. The point is, we don't need There are too many uncertain factors in investing in the fragile Korean capital market. We only need to stir up the Korean market, and its recovery will naturally drive the rebound of other markets. In this way, our goal will not be achieved Don’t you forget that what we are doing now is closely related to the environment in Southeast Asia as a whole.”

"Hong Kong?" Soros nodded after rolling his eyes a few times, "But I need to discuss this matter with Julian. With an outstanding partner like you, if it weren't for you, I'm afraid I would have missed this rare opportunity."

Druckenmiller said modestly: "George, you are the guy with a strategic vision. God, fortunately, I am on the same front as you. If I were your opponent, I'm afraid I don't even know why I died .”

Although his boasting words were a bit exaggerated, but just as he was scratching Soros' itch, he laughed for a long time, then his face changed, and he said through gritted teeth: "This guy who came out of nowhere dares to deceive you!" I have so much money. This time, I swear in the name of God, I must kick his **** hard. Yes, I must let him know who is the master of the financial market."

  Looking at Soros' distorted face due to extreme anger, Druckenmiller felt a chill in his heart, and immediately felt a chilling feeling. He realized that Mr. Chung, who had dealt with him in Hong Kong, was in trouble, and it was big trouble.

  …

   Not long after, after communicating with Julian Robertson, Soros gave South Korea a happy answer: he will arrive in Seoul two days later, on January 3, to visit South Korea as the guest of the new President Kim Dae-jung.

  Pu Xilai was naturally ecstatic, and immediately notified the Blue House of the news. Then he started urgent discussions with the president's staff, discussing how to receive Soros and others, and hinting at what he needs to say when necessary. These tasks need to be completed by him, the governor of the central bank.

It's just that he didn't expect that the reason why Soros agreed so readily was not only to show face to the new South Korean president, but also to borrow their momentum. In this case, to praise South Korea's economic prospects It became inevitable.

  Both sides are considered to have their own ghosts, and they both have the idea of ​​using each other in their hearts, but the two are highly integrated, and finally contributed to Soros' trip to Seoul.

   On January 3, the plane from the United States finally landed at the airport in Seoul. The South Korean side welcomed Soros in a big way. A group of senior officials, including Central Bank Governor Park Hee-rae and Assistant Finance Minister Zhu Zhixun, stood up on the airport apron to welcome guests from the United States.

  Since Soros is not a public official and does not have any official titles, this welcome camp is already high enough. But this is not over yet, Park Hee Lai placed the welcoming formation directly on the waiting apron, which is inside the airport instead of the traditional pick-up area, which gave Soros enough face.

  Of course, he did not forget to bring a photographer with him. This performance is for investors all over the world to see.

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  (end of this chapter)