228. hero
November 21, 1997.
President Kim Il-sam opened a public discourse and officially announced that the Republic of Korea is currently on the verge of a serious foreign exchange crisis, and that it would receive an emergency blood transfusion of 40 billion dollars from ‘Gaia Investment’ as a relief measure.
It was an announcement that shattered everything he had achieved as a politician and as president, but it was something he had to deal with.
Fortunately, as in the original history, Korea did not acknowledge the national bankruptcy.
Of course, it is the same that the economy must be revived with a completely different direction of economic operation.
The end of 1997 passed a little in vain.
In the 15th presidential election held on Thursday, December 18, Kim Joong-dae, a candidate from the opposition party who had a long history of political life and devoted himself to democratization like President Kim Il-sam, was elected.
This was the first time since the 5.16 military coup in 1961 that the Democratic Party came to power.
This election marked the first peaceful and democratic change of government in the Republic of Korea in 36 years.
President-elect Kim Jung-dae, who was once the same party as President Kim Il-sam.
The fortunes of the two politicians were completely reversed in 1997.
In 1994, Kim Il-sam, who was once more popular than ‘Seo Ji-tae and the Children’, disappeared into history by implementing policies that scratched the people’s itches, such as the liquidation of Hanahoe and the real-name financial system, and was defeated by President Kim Il-sam in the 14th presidential election. President-elect Kim Jung-dae, who had resigned from the legislature and retired from politics in 2008, emerged as a relief pitcher to revive the current economic crisis.
.
.
.
The year 1998 was quietly bright.
As soon as 1998 began, funds from Gaia Investment were poured in, and Korea quickly stabilized.
$40 billion.
The huge amount of money that goes over 60 trillion won has, of course, brought about a huge fire.
[The savior of the Korean economy. Gaia Investment]
[Gaia Investment rescued Korea from the IMF mire]
And now, everyone knows that Hoyoung is owned by Gaia Investment.
The government welcomed that fact.
In times of crisis, heroes are needed.
The Korean government actively used the name ‘Yoon Ho-young’.
Naturally, Hoyoung’s popularity skyrocketed.
And thanks to Hoyoung’s growing popularity, the names of H&H and Hermes started to become more famous.
Originally, the people of Korea used the word ‘Kronos’ instead of the word ‘operating system’, and it was considered official that the mobile phone was Pantech and the carrier was Hermes, but in addition to that, an image of a real patriotic company that thought of the country was created. .
H&H’s executives weren’t sensible enough to miss this period.
In particular, Hoyoung actively carried out a project called ‘Cheer up Korea!’
This project was not a difficult project.
It’s just that companies keep margins at a minimum and supply their products to the people cheaply.
Hoyoung started a special discount policy step by step, starting with companies related to him.
– cheer up! Republic of Korea! The future of our country will now begin in the IT industry. Now, study computers in line with the upcoming information age! All H&H products are subject to a 30% patriotic discount until the economy stabilizes in Korea.
Of course, Dell Computer also implemented a policy of deeply discounting PCs in line with H&H.
Korean parents are truly amazing.
Although the aftermath of the foreign exchange crisis had not gone away, parents who thought that studying computers would help their children not fall behind in the new era provided computers for their children by splitting living expenses.
No, rather, it would be safe to say that thanks to the whole body of the economic crisis, he was more enthusiastic about his children’s education.
‘We must educate our children diligently so that they do not repeat our mistakes.’
Thanks to that, H&H and Dell Computer were able to avoid significant losses in operating profit even during the foreign exchange crisis.
Of course, as Hoyoung promised with President Kim Il-sam, the money invested in Gaia Investment took care of the people’s livelihood first, so it played a big role.
Hermes Telecom also started discounting telecommunications charges approaching 50%, and Pantech also sold at a minimum cost, ‘Cheer up Korea!’ phone was released.
It started with companies related to Hoyeong, but ‘Cheer up Korea!’ The project spread like wildfire to other large corporations as well.
Myungsung Group, which has a close relationship with Hoyoung, as well as other large corporations, started a discount policy.
These policies gathered one by one and formed a great river in Korea.
Consumer sentiment, which had shrunk due to the foreign exchange crisis, began to ease little by little, and money that had been hidden in fear began to circulate in the market.
Companies naturally began to recover sales again.
As sales recovered, it became possible to pay overdue salaries, and the people who received salaries spent money on the market again…
Started by Hoyoung, ‘Cheer up Korea!’ The project was creating a healthy virtuous cycle in Korea.
.
March 1998.
President Kim Jung-dae, who was elected as the 15th president of the Republic of Korea, began his term in earnest.
What he did as soon as he started his term was… It was about meeting Hoyoung.
The Office of the President in the main building of the Blue House.
Ho-young was sitting face-to-face with President Kim Jung-dae and talking.
“Most of the money we borrowed has been put into practice. The distribution of funds has been completed in the direction you already know, and it has been reported that it is showing a rapid recovery.”
Although President Kim Jung-dae, who was three years older than former President Kim Young-sam and already well over seventy, did not forget to show respect when talking to Ho-young.
“yes. Our company (Gaia Investment) also receives reports every day. I am truly glad that the recovery seems to be going smoothly.”
“It’s all thanks to Chairman Yoon. If you had borrowed money from the IMF, there would have been intense economic interference. Intervention in the economy would have eventually led to intense restructuring, and while there would have obviously been economic results, the number of individuals suffering would have been countless.”
Hoyoung nodded.
save suffering individuals;
Because this was the reason why Hoyoung risked life and death to avoid the IMF.
“How about the gold-raising movement taking place across the country?”
“Emotional things happen every day. Newlyweds give away their wedding rings, young couples give away their children’s first birthday rings, and old couples give away filial piety rings bought by their children. Athletes presented the gold medal, the crystallization of sweat, which is the pride of a lifetime. I···. I am sincerely admiring and grateful to our people.”
President Kim Jung-dae’s eyes were slightly watery.
Even so, he showed a slight hint of shame.
The people paying for the government’s failures.
In addition to collecting gold to pay foreign currency, the Korean people’s voluntarily trying to overcome the crisis will play a big role in gaining international credit.
‘And that credit rating leads to attracting investment from foreign investors.’
Hoyoung couldn’t help but feel moved when he saw people voluntarily stepping out.
However, Hoyoung said firmly.
“For those who bring gold, you haven’t forgotten to return it in cash by calculating it higher than the market price, or higher than the market price, right?”
“sure. Even now, they are advertising to stop bringing gold. Even so, there are great people who ask me to write for the country.”
“Since ancient times, there have been many heroes of national salvation in our country who sincerely served our country when it was in crisis. And I think those heroes were not special people, but our people themselves.”
At Hoyeong’s words, President Kim Jung-dae smiled.
Ho-young turns 30 this year, but the president just looks cute.
Even though he was such a young man, he liked Ho-young because he could talk to him.
“Don’t worry about gold. We will execute it as transparently as possible within the limits permitted by the president’s authority, and we will ask our government and businesses to never forget their gratitude to the people.”
“yes. Please.”
Hoyoung knew that his feelings of gratitude to the people would fade after several years, but at this moment, he nodded his head broadly.
“Then now we are talking about business. We will take this opportunity to privatize public enterprises such as Korea Telecom, Gas Corporation, Electric Power Corporation, and Tobacco and Ginseng Corporation.”
“yes. I heard the news. Among them, the company I am aiming for is…”
“It must be Korea Telecom, right?”
“That’s right.”
Hoyoung had an expression that said something obvious.
To be honest, Hoyoung could have taken over all of these public companies if he wanted to, but he didn’t have to deliberately take over companies like hippos that eat money.
However, because Korea Telecom needed the telephone infrastructure and telephone poles that had already been laid across the country, it was trying to take over the entire company.
“Actually, we had a headache as well because of the antitrust and fair trade laws.”
“When Hermes and Korea Telecom merged, it was a question of whether it was a market monopoly.”
“That’s right. To start with the conclusion… The Fair Trade Commission has approved it.”
“I’m glad.”
Hoyoung smiled.
“It seems that Hermes has already decided that it will give Korea a greater benefit when they become one company due to the oligopoly in the telecommunications industry and the complementary relationship between Korea Telecom and Hermes.”
“You are right.”
“And you want to take over Kia Motors?”
Kia Motors had just entered court receivership.
And three months later, in June.
It was scheduled to be submitted for international open competitive bidding.
“yes. As you may know, I have already acquired Samryong Motors. If I take over Kia Motors, I can make a more competitive car. We will be able to check the anti-monopoly status of Daehyun Motors.”
President Kim Jung-dae nodded.
He almost believed everything Hoyoung said, even if he said that he was making fermented soybean paste with red beans.
“good. Then, we will try to proceed with a private sale, not an open bidding.”
“Thank you for the convenience. President.”
Hoyoung bowed her head.
He didn’t want to strain his neck just because he had lent him a huge amount of money.
“What are you doing with this? Chairman Yoon is no different from a hero in our country. It’s really natural to treat them appropriately.”
“Thank you so much for thinking that way.”
after some more time has passed.
Hoyoung was able to leave after finishing all the talks at the Blue House.
It was a process that proceeded according to his idea, and since President Kim Jung-dae showed an active will to improve, I thought that there was no need to make a big touch in the direction of the Republic of Korea.
“President. Thank you for your hard work. Shall we take it to your office or home now?”
Miru, who is still in charge of driving Hoyeong if there is nothing special, said looking back from the driver’s seat.
“no. Would you like to go to Seoul Station?”
“All right. Did you have an appointment? I didn’t know.”
“Actually, I didn’t make an appointment. It’s because I’m going to stop by once since I’ve come this far.”
Hoyoung had just decided to take over Kia Motors at the Blue House, but he had no intention of stopping here in the automobile business.
To stand shoulder to shoulder with Daehyeon Motors, Samryong and Kia Motors were still not enough.
“Please go to the Daewoo Building.”
“Yep. All right.”
Hoyoung had completed his plan to take over Daewoo Motors from the soon-to-be-destroyed Daewoo Group as the final puzzle in the automobile business.