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This is the Korean headquarters of Daenerys Entertainment.

In other words, as long as he can make a good movie, Daenerys Entertainment should be happy to help run it.

Due to the decline of local films, some Korean filmmakers have also been quietly operating overseas these years. Although they have not won many awards, because of the exchange rate, as long as they can sell their copyrights, they will basically get a good harvest.

Cheng Tae-hee was also aware of this.

After asking for some details again, the half-hour meeting ended quickly, and Cheng Taixi finally said: "I will submit your project to the front, but, Mr. Feng, there is one more thing I need to explain in advance, if you want to communicate with us To cooperate, you need to sign three film contracts at one time, that is to say, we have the priority to choose your next two films."

"Of course, I understand."

"Then," Sung Tae Hee stood up and finally reached out to Bong Joon Ho: "I hope we can reach a cooperation."

Feng Junhao hurriedly got up, and shook hands with Cheng Taexi respectfully, knowing that the other party was seeing off a guest, he stood up and said goodbye.

Sending Bong Joon-ho off, Sung Tae-hee sorted out all the thoughts from the meeting just now, and at the same time signaled the secretary to call the next candidate to come in.

It's just that this time the two had just greeted each other, when suddenly there was a commotion outside the building, and the noise was getting bigger and bigger.

Cheng Tae Hee frowned, motioned to the filmmaker named Hong Sang Soo to wait a moment, called his secretary, and asked, "What happened?"

The secretary said: "Someone is protesting against the IMF agreement in the morning."

Sung Tae-hee is completely absorbed in his work these days, and he doesn't pay much attention to the negotiations between the South Korean government and the IMF. He just vaguely remembers eating with his brother and sister-in-law yesterday. They said that the negotiations between the IMF and the authorities will end this morning.

The noise outside the window continued, and it was impossible to talk about things, so Cheng Tae-hee could only come to the window.

I saw a dense crowd outside the window, apparently gathered from the south bank of the Han River, and wanted to go to the Blue House in the north.

The team lasted for more than ten minutes and finally walked through completely.

Through the various signs raised by the crowd, Cheng Tae-hee roughly understood the various contents of the agreement reached between the IMF and the South Korean authorities.

However, these were not her concerns.

I'm just a little woman, I can't change anything, it's best to do my own thing seriously.

With such self-numbing thoughts, Cheng Tae-hee signaled the guests to come to the reception area to sit down again when the crowd gradually receded.

A middle-aged man in his thirties named Hong Sang-soo obviously didn't care much about politics, so he didn't make any comments. He just smiled and discussed his project with Sung Tae-hee.

This is also a play with a very interesting name, called "The Day a Pig Fell into a Well".

In fact, like Bong Joon-ho, this 37-year-old middle-aged man named Hong Sang-soo was also introduced by contacts in the circle. There is no way, the culture of Korean circles involves all aspects, and there is no way to hide.

When Sung Tae Hee and Hong Sang Soo were discussing the script, the whole of Seoul was boiling.

At 10 o'clock this morning, the South Korean government formally reached and signed a rescue agreement with the IMF. The amount involved was higher than many media expected. The amount involved was as high as 600 billion U.S. dollars, of which the IMF contributed 200 billion, the other 400 billion, and other IMFs. Member countries and the World Bank together to raise funds.

Also, there is no free lunch in this world.

The $600 billion agreement means a series of harsh agreements.

It's just some of the terms, even people who don't understand them at all will understand the meaning after seeing them.

1. Increase interest rates by at least 25%;

2. Allow foreigners to open banks and securities firms in South Korea before mid-1998;

3. Allow foreign companies to acquire Korean companies, including hostile takeovers;

4. Open trade, abolish the import licensing system and export subsidies

5,……

Chapter 1256 Noose

Seoul, Blue House.

In a dressing room in the Presidential Palace, Kim Young-sam changed into an old-fashioned gray suit, asked a makeup artist to make a tired look for himself, and then walked out of the room.

A staff member who chased out from the locker room tried to put the windbreaker on Jin Yongsan, but was refused.

The current temperature in Seoul is already below zero, but the next thing to do is to play the sad card, and a little cold will definitely increase the effect.

In the outer living room, a group of cabinet officials and the president's staff saw Jin Yongsan appearing, and they stood up one after another with solemn expressions.

In the end, he nodded slightly to everyone. Jin Yongsan glanced at the crowds outside the Blue House on the screen on one side of the wall. He took a document from the secretary Jiang Xuanhao, looked at it as he walked, and finally came to a temporary building outside the Blue House to face tens of thousands of people. podium.

There are two large screens on both sides of the podium, reflecting the figure of Kim Young-sam on the stage.

offstage.

The crowd stretched for several kilometers, much larger than the one on October 10.

Kim Young-san had already obtained some inside information in advance. This time, there were also people instigating, but it was no longer a small team like last time, but mainly chaebols in South Korea who had stronger mobilization capabilities in all aspects.

The time is the evening of November 11th.

The content of the agreement announced at ten o'clock in the morning exceeded everyone's expectations. If the public could handle it well, the chaebol, who realized that their interests were seriously threatened, couldn't sit still.

The $600 billion rescue plan involves specific agreements, each of which makes the chaebols feel that the next life will not be easy.

For example, some of the core clauses.

First, South Korea needs to increase the bank's benchmark interest rate by 25% in one go.

The main problem facing South Korea's financial crisis this time is debt, which is so huge that many companies need to continue to maintain cash flow through cyclical lending.The one-time increase of the benchmark interest rate by 25% will undoubtedly greatly increase the financing cost and difficulty of financing for Korean companies, which in turn will cause many companies to completely break their capital chains and go bankrupt.

Second, open trade and abolish import licenses and export subsidies.

The main reason for South Korea's rapid economic rise in the past 30 years is the country's foreign trade system.

Since the Park Chung-hee era, the South Korean government has supported enterprises to earn foreign exchange through export at all costs, including a large number of explicit or covert import protection and export subsidy measures.

This time, trade is completely opened, import restrictions are abolished, and export subsidies are cancelled. There is no doubt that the export competitiveness of Korean companies will not only be greatly reduced, but they will also face competition from a large number of overseas companies due to the abolition of import barriers.

Bearing the brunt is the South Korean auto industry.

Previously, with the protection of trade barriers and the support of export subsidies, this has created a grand occasion where four of the top ten chaebols in South Korea are mainly engaged in automobiles.Next, it is conceivable that all these protective measures will be cancelled, and the Korean auto industry will face strong competition from auto companies around the world.

Thirdly, it is also the deadliest item in this agreement. Korean banks, securities firms and other financial companies need to be supervised by the IMF, and the financing and mergers and acquisitions of the Korean consortium need to be approved by the IMF.

This is the complete takeover of South Korea's financial sovereignty!

Among the specific details involved, the South Korean government’s next financial measures such as interest rate adjustments and national bond issuance need to be approved by the IMF; South Korea’s foreign exchange inflows and outflows need to be approved by the IMF; as for the Korean consortium, of course, the IMF is not It manages everything, but only supervises capital operations above a certain scale.

It's just that the threshold for this 'considerable scale' is unbearably low.

100 million dollars!

During the IMF supervision period, large Korean consortiums, financing, mergers and acquisitions with a scale of more than 100 million US dollars must be reported to the IMF, and can only be implemented after being signed by the chief representative of the IMF in Korea.

A mere $100 million may not be a big deal for small and medium-sized enterprises, but for large consortiums, it is simply a degree of supervision before taking a breather.

How can this be easily accepted by the major chaebol families in South Korea?

So, what should you do if you are disobedient and violate it?

Of course, these details will not be ignored in the final 291-page rescue agreement.

If some companies are unwilling to comply, it is very simple. The IMF will work with the Korean government and overseas capital to recover all loans from the violating companies.

To put it bluntly, if you don't want to obey the rules, that's fine, just pay off the debt.

That's the problem.

With the ultra-high debt ratio of major Korean conglomerates generally exceeding 300%, it is impossible to afford it.I couldn't afford it, and was forced to pursue it, and the only result was bankruptcy.

All in all, before contacting the IMF, the precarious South Korean conglomerates were very eager to seek help. However, when the agreement was finally finalized, it was found that the agreement was too harsh, almost like a noose that could hang them to death at any time Wrapped around the neck and shoulders, the consortium suddenly became reluctant again.

In addition, the case on October 10 is the first, so let’s make a fuss again.

The authorities are incompetent, so let some people see that the Korean people are not easy to mess with.Everyone is making a fuss, even if the IMF agreement cannot be completely overthrown, there is a good chance that some concessions will be obtained.

"...National people, I do not deny that this crisis is a painful lesson for the Republic of Korea. Although it is extremely painful, we have to accept this lesson, because it is the blind and aggressive economic development of the Republic of Korea in the past 30 years. The consequences of the policy..."

"...If the IMF's rescue is rejected, South Korea will become the first developed country to declare bankruptcy, and the wealth accumulated by the people for decades will be wiped out with the continued sharp currency devaluation. The Republic of Korea will usher in an economy similar to that of the United States in the 30s. In a Great Depression like the collapse, a large number of businesses closed down, countless people lost their jobs, and the unemployment rate may be as high as 30% or more. Perhaps our entire generation will lose its future because of this. This is an even more unbearable result..."

"... Citizens, at this time of crisis, I only hope that everyone can unite as one and overcome the difficulties together, instead of intentionally creating differences and dragging the Korean nation into a darker abyss..."

"……please……"

Following Kim Young-sam's deep bow once, the crowd who had been chattering during the president's speech finally gradually quieted down.

Jin Yongsan knew very well that this was a good start, so he had to relax a little bit. After standing up straight, facing the cold wind with a temperature below zero, he offered to ask with a sad expression that some media reporters and trade union representatives at the scene could talk about the issues they cared about. Take public questions and he will answer them live.

In the gradually falling twilight, the lights outside the Blue House began to light up.

The microphone was passed on, and soon the first questioner appeared.

"Mr. President, I am Noh Chan-hyuk, a reporter from the Chosun Ilbo. Excuse me, the authorities have signed a 7-year agreement with the IMF. Do we really want to accept the 7-year financial supervision of an international financial organization? "

Hearing the sad question from the loudspeaker, Jin Yongsan was overjoyed.

It was a question that the staff team had rehearsed in advance.

After calming down, Kim Young-san replied with a heavy tone, "This is exactly what I would like to explain to the people. The total amount of the IMF bailout agreement is 600 billion US dollars, but this does not mean that South Korea must bear the full 600 million US dollars. billion US dollars in loans, we only need to withdraw the funds needed by the country in batches, so we need the joint efforts of all citizens. Similarly, the 7-year agreement is not fixed, as long as we can reduce the withdrawal of funds as much as possible through our own efforts and repay them as soon as possible, then , The day when South Korea repays the IMF loan is the moment when we get rid of IMF supervision."

Whether it was the tens of thousands of people at the scene or the countless people in front of the live TV broadcast in South Korea, they couldn't help but breathe a sigh of relief when they heard Kim Young-sam's explanation.

The human heart is like that.

When there is room for change in a matter that was supposed to be absolute, the tit-for-tat mentality will inevitably fade a bit.

Immediately afterwards, another trade union representative asked a question: "Mr. President, the IMF agreement requires the authorities to change the current labor system and allow companies to carry out large-scale layoffs. Don't you think this clause is too harsh?"

"This is indeed a very harsh clause." Contrary to many people's expectations, Jin Yongsan did not deny it, and said to the microphone with his face still heavy: "However, it is a result that we have to bear in a short period of time. I I just said that this is a catastrophe for the Republic of Korea, and no one can escape. Therefore, I can only guarantee that the authorities will be the first to bear the consequences. Whether it is me or signing the IMF agreement The three presidential candidates will push the government to carry out a large-scale downsizing of personnel in order to save the country's budget. Moreover, I believe that the predicament is only temporary, as long as the country gets through the difficulties, employment can also return to its previous level."

The layoffs started from the government. Such a promise once again eased the emotions of countless people.

The microphone passes again.

Another question: "Mr. President..."

"..."

With the continuous questioning and Kim Young-sam's patient answers, the mood of public opinion has changed from the anger of the authorities signing the agreement of humiliating power and humiliation to a kind of united and united hatred.

This public speaking and interaction finally came to an end when night completely enveloped the city.

Jin Yongsan finally reminded everyone to disperse in an orderly manner in a gentle tone of an elder to avoid being trampled, and finally returned to the presidential palace surrounded by escorts.

Go back to a lounge inside the Blue House.

This time, Jin Yongsan, who was really exhausted, sat paralyzed on the sofa, looked at the TV screen that was still broadcasting the live broadcast of the crowd outside the venue, and slowly drank a cup of hot tea until General Secretary Jiang Xuanhao came to report again, saying that the crowd had begun to disperse Go, finally relieved.

However, it's not over yet.

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Chapter 1257 Box props

Jin Yongsan knew very well that the crowd outside the Blue House began to disperse. It was not just the result of his speech and interaction for more than an hour just now, but many people were also working.

Likewise, there are still plenty of people who don't want the crowd to dissipate.

Next, he still needs to solve these problems. Whether it is threats or inducements, he must reach an agreement with some people as soon as possible, otherwise, this protest will come again tomorrow.

For a moment, Kim Young-sam even missed the previous military government era.

At that time, how could those chaebols dare to make such a fuss?

However, it can only be missed.

Now that we have reached this point, nothing can be undone.After all, he didn't have the slightest foundation in the army. If he didn't forcefully clear the military forces in the government after he came to power, he might wake up one day and face another 'Park Chung Hee' or 'Roh Tae Woo' who launched a coup d'état.

There are gains and losses.

What is about to be lost is that South Korea's Grand National Party, which has been in power no matter how it came to power after World War II, will be replaced by an opposition party for the first time.

Jin Yongsan can only comfort himself, perhaps, this is also a good thing.

After all, Kim Dae-jung, who has a high probability of coming to power, will face a very difficult national economic situation. As long as one is not handled well, the public support rate will drop rapidly.Five years later, the Grand National Party, which is still deeply rooted in the government system, has a high probability of regaining power.

Thinking carefully about these things, he drank a cup of hot tea again, and with the heating in the room, Jin Yongsan, who had completely calmed down, said to Jiang Xuanhao who was still by his side: "Let Lin Changlie come to see me later, and ask about when the financial market will reopen. Tell him to prepare for the matter. The media, don’t sleep tonight, keep an eye on me to ensure that there will be no more news that exceeds our expectations tomorrow. In addition, connect me to that Chen Qing’s call. "

Jiang Xuanhao agreed one by one, and said cautiously: "Mr. President, Madam just mentioned that I hope you can have dinner first?"

"Bring over dinner, I'll eat later."

Jiang Xuanhao nodded, turned and left.