Eleven o'clock in the morning, Blue House.

South Korea President Kim Yong-sam and other cabinet members looked at the rapidly falling South Korean won and foreign exchange and the stock market with livid faces.

In just one hour, the exchange rate of the Korean won against the U.S. dollar fell from 960:1 to 1,520:1, a drop of more than 30%.

Affected by the sharp decline in the Korean won's foreign exchange, it is no surprise that the stock market also collapsed, plummeting from 712 points to 566 points, a drop of more than 20%, and triggering circuit breakers three times in a row.

It can be said that the current South Korea financial market can only be described in one word, that is, collapse.

If I had to find a word to describe this kind of collapse, it would be landslides!

Today can be said to be the worst day for the financial market in the history of South Korea!

However, what makes them even more desperate is that such a tragic situation was formed in just one hour, and there are still at least three or four hours before the market closes.

To be honest, they have never been more eager for the financial market to close early than now.

After all, if the financial market of South Korea continues to collapse like this, it will not only collapse the financial market, but also the entire South Korea.

The development achievements of South Korea over the past few decades will be completely destroyed in one day, leaving not a single blade of grass able to grow.

As for those people who are happily buying Korean beef gift boxes, let alone eating Korean beef, I am afraid that they may not even have the money to eat vegetables and leaves tomorrow.

With such a small territory and weak agricultural capabilities, if the Korean won and the financial market completely collapse, there is a high probability that 80% of South Korea's people will not be able to afford food tomorrow, let alone vegetables and leaves.

After all, most of the resources for daily life in South Korea need to be imported, even the kimchi that they are proud of.

This also means that once this situation occurs, all South Koreans can only compete for a small amount of local agricultural products that cannot even be supplied by 20% of the needs of South Koreans.

By then, the prices of these agricultural products will definitely rise horribly, and they will definitely not stop rising five or ten times.

Just like food, once a food shortage crisis occurs, even if there is only a 10% shortage of food, the increase in food prices will not only increase by 10%, but will inevitably rise to the point where the bottom 10% of people cannot afford to buy food and are hungry.

Until death.

In order to survive, the purchasing power that the bottom 10% can unleash will be extremely terrifying. They may even be willing to sell houses and land. After all, no matter how important these things are, they are not more important than life.

But even so, the bottom 10% still cannot escape the fate of death. You can only imagine how high food prices will be.

This is also the reason why ordinary people are so miserable in disaster years.

Of course, profiteers are also responsible for hoarding food and driving up prices.

Maybe South Korea will not be so miserable in the end. After all, even if the exchange rate and financial collapse, its connection with the outside world has not been completely severed. It can still import foreign products, but these foreign products will rise to a very high level.

Just a high price.

By that time, it is estimated that at least 20% of South Korean people will not be able to eat kimchi, and the savings accumulated over the years will be like zero.

This point can be compared to what happened in Zimbabwe or Russia when foreign exchange prices fell sharply.

Thinking about it, the South Korean people, who have zero savings and don’t even have kimchi to eat, are really miserable.

"No matter what, we must protect the Korean won exchange rate and the stock market!"

Jin Yongsan looked at the cabinet members whose brains were about to drop to the ground, and shouted angrily.

But as soon as he finished speaking, the cabinet members did nothing except hanging their heads deeper, let alone speaking out and coming up with any solutions.

They still understand the financial situation of South Korea, but to put it bluntly, the Korean won and the stock market are probably dead and hopeless.

After all, you must know that South Korea’s foreign debt is dozens of times that of Siam and other countries, but its foreign exchange reserves are only one-third and a quarter of those of Siam and other countries.

It can be said that the track of the fast-moving high-speed train in South Korea is laid on the cliffs. If there is even the slightest problem with the cliffs, the train in South Korea will capsize and die without burial.

The financial fragility of the entire South Korea can be said to be rare in the world.

This has been fully proven by the collapse of the Korean won and the stock market in just one hour.

After all, although Siam and other countries collapsed before, they did not collapse so miserably.

Of course, the reason why the Korean won and the stock market collapsed so drastically is because retail investors and small and medium-sized financial institutions are more likely to follow financial giants like Soros and side with shorting South Korea.

Another important reason is that South Korea did not rescue the market, and now the nine billion U.S. dollars of foreign exchange reserves are still sitting in the central bank's account.

"Gao Jianjun, as Prime Minister, what can you do now?"

Jin Yongsan narrowed his eyes. Since they were all pretending to be dead, don't blame him for calling him by name.

Moreover, he still has high hopes for Mr. Gao Jian. As a non-party member, Gao Jian was appointed as Prime Minister by him, which clearly shows his ability, and his resume is even more powerful and scary.

He graduated from Seoul University and took office as the governor of Jeollanam Province in his thirties, becoming the youngest provincial governor in the history of South Korea. Since 1980, he has served as the Cabinet Minister of Transportation, Minister of Agriculture, Forestry and Fisheries, and Minister of the Interior.

So far, about 7 presidents have included him in the cabinet. He even appointed Gao Jian, a non-party person, as prime minister for the first time, instead of appointing the number two or number three in his own party as in the past.

figure.

It can be said that Gao Jian is famous in South Korea simply for his outstanding abilities.

"With all due respect, if you want to maintain the Korean won exchange rate and the stock market, it is basically impossible. Now South Korea has serious foreign debt. Although there is a little foreign exchange, it is equivalent to the size of the entire South Korea economy, which is basically equivalent to nothing...

…”

Speaking of this, Gao Jian glanced at Jin Yongsan's face and hesitated for a moment, but finally gritted his teeth and said: "So, in my opinion, it is better to give up resistance now and let the Korean won and the stock market collapse.

, and then use the remaining foreign exchange reserves to save the economy and financial system after they reach a low point and collapse."

"Furthermore, South Korea still has its own unique advantages. Now South Korea has a large number of manufacturing capabilities. It has its own unique technology and production capabilities in advanced fields such as ships, automobiles, and semiconductors. It has become a global economic powerhouse.

An important part.”

"It can be said that despite the financial collapse, these technologies and manufacturing capabilities, as well as industry status will not collapse. These are the capital for South Korea to rise again, and the exchange rate has fallen sharply. In fact, for manufacturing and exports, it should

It’s a huge benefit.”

"I predict that after this disaster, the proportion of South Korea's manufacturing exports in the world will hopefully increase from less than 2% to about 3%, and a strong and advanced South Korea will be completely established."

After listening to Gao Jian's impassioned words, everyone felt a little dazed. According to Gao Jian's opinion, the falling exchange rate and the collapse of the stock market are still a good thing. They should be grateful to those financial giants.

Of course, they also know that the world does not have the benefits of reaping without giving. Behind the substantial development opportunities for South Korea's advanced manufacturing technology, countless South Korea people are shouldering the burden.

What these people are about to face is that their real income has dropped several times, and their purchasing power has dropped several times. From being able to afford Korean beef gift boxes now to a month of hard work, they can only live a miserable life with a full stomach at best.

As members of the cabinet, they naturally don't want the people of South Korea to live such a life, but isn't there anything they can do about it?

If they can save the Korean won and the broader stock market, they will definitely save it.

Therefore, I hope that the people can have some understanding of the cabinet and the Blue House and continue to bear the burden of South Korea for a while.

Thinking of this, many cabinet members couldn't help but breathed a sigh of relief, looked at Gao Jian with some gratitude, and silently muttered in their hearts, Mr. Gao Jian really deserves to be the elder of the Seven Dynasties and the Qiancheng of the country.

After all, they all knew what Gao Jian said, but they didn't have the courage to say it.

Unexpectedly, Gao Jian, whom he had high hopes for, would actually say such a thing. Jin Yongsan suddenly became furious. He pointed at Gao Jian's nose and wanted to curse, but when he looked at the others, they looked in agreement and relieved.

He cursed but couldn't say anything.

These bastards!

Assy!

They have never thought about him as president. If the economic life of South Korea really becomes that miserable, can he, as president, continue to sit down?

It can be said that these bastards want him to die in order to protect themselves!

At this moment, he felt as if he had transformed into the last emperor of the Korean Empire, Gojong Yi Xi.

At that time, the Korean Empire was about to be forced by the Eastern Japanese to sign the Treaty of Eulsi, depriving South Korea of ​​its diplomatic rights and turning South Korea into a protectorate.

Many ministers probably knelt in front of the throne like this, begging Emperor Gaozong to die and not to resist, so as not to destroy the Korean Empire.

But what about actually?

These ministers are not doing it for the people of the Korean Empire, they are all doing it for their own official positions and for their own interests not to be affected.

After all, even if they were ruled by the Eastern Japanese, the Eastern Japanese would still use them to do things.

Just like his resignation is just his resignation and has nothing to do with these cabinet ministers.

Especially the bastard Gao Jian. Even if he steps down, there is a high probability that the next president will continue to use Gao Jian. At most, he will not have the courage to let Gao Jian serve as prime minister like him.

However, what is even more tragic is that Gaozong could still raise his arms and call on all the officers and soldiers of South Korea to resist the foreign invaders, but what about him?

The only thing that can be used in total is the foreign exchange reserves of 9 billion US dollars.

How long can this small amount of foreign exchange reserves withstand these vicious financial predators?

Half an hour, twenty minutes, or ten minutes?

He could already imagine that these nine billion US dollars were thrown into the foreign exchange market, and they were drowned by the huge waves without even a little splash.

Suddenly, he felt a little lifeless, and even felt sad for himself and the tens of millions of people in South Korea. It turned out that all his struggles were just a joke.

Looking at Kim Yong-sam, who was looking increasingly miserable, Gao Jian and other cabinet members breathed a sigh of relief.

It would be great if Kim Yong-sam understands that now the foreign exchange and financial markets in South Korea have reached a dead end, and they can only take the path of standing behind and standing behind.

So it's not that they are cruel, it's just that the matter has reached this point and there is no other way.

Furthermore, if South Korea is in this situation now, it can be considered as Kim Yong-sam’s own fault.

If Kim Yong-sam was not for political achievements and the so-called rapid economic development of South Korea, he was desperately letting these companies borrow money to develop, completely ignoring the economic laws of the world, and raising the debt ratio of these companies to such a high level that it was completely unreasonable.

Due warning lines.
To be continued...