Rebirth: Japanese investor

   Chapter 660 Profits

   At ten o'clock in the morning, Ida Kameji appeared on time in the president's office, in front of Kishimoto Masayoshi. The two of them sat facing each other.

  Ida Kameji said without any detours: "Everything is in accordance with your previous instructions, I have carefully selected some competent personnel from the hard gold bank.

   Now, it is all assembled. Our special attack team can go to Seoul, South Korea at any time. "

   "Okay. In a week, you will depart from Tokyo to Seoul. You are not familiar with the situation in Seoul. At that time, I will let the secretary's office notify the person in charge of the Seoul office, Sato Hidetaka in advance.

   The real purpose of your trip here will not be told to him, but the long-term investigation of whether Seoul is suitable for the establishment of the first overseas branch of the Hard Gold Bank, the location of the bank branch, and the preparatory work are used as a cover to hide from the public.

   As for your specific office location and residence, I will also let the secretary office tell Sato Shunaka to handle it. Your task is to short the entire Korean banking industry, as well as the credit card-related Korean stock market sector. "Kishimoto Masayoshi explained slowly.

  Ida Kamami said solemnly, "Understood."

   "The reason why I made such a determination is the result of a multi-party analysis that I personally returned from my inspection in Seoul, South Korea.

  In the late 1980s and early 1990s, when the Japanese economic bubble burst, there was a credit card storm in Japan.

   This financial event should still be fresh in your memory! "On the one hand, Masayoshi Kishimoto knew in advance that the credit card crisis in South Korea would break out in September this year, and on the other hand, he personally investigated the results.

   In addition to listening to various complaints and accusations about Kanu on the underground radio station in Korea, he also personally visited the prosperous commercial districts, large department stores, restaurants and so on in Korea.

  The fact that he was able to probe into the nuances of things is that Koreans generally use credit cards. For Koreans, the use of credit cards has become an inseparable part of daily life.

   But, here comes the problem. It is normal for an ordinary person to have two or three credit cards. In Korea, people who don't use credit cards can be seen as strange and abnormal by others.

   Even if an ordinary person has three or five credit cards, it is still within the scope of complete control. Once an ordinary person has a dozen, or even 20, 30 credit cards, it will be a big problem.

   Masayoshi Kishimoto found through his own careful observation that there are a lot of credit cards in Korean purses. He did a rough count and found that there were generally more than five.

  Some people have no idea how much they still have a limit on their credit card. Is that credit card maxed out and overdrawn?

   The reason why this happens is that individuals have too many credit cards. When checking out, it is either to change multiple credit cards to try, or it is impossible to pay with one credit card, but to use multiple credit cards to split the account for settlement.

   In the few days that I took my subordinates to visit the streets and alleys of Korea, this image is not an exception, but many people are like this.

  Especially the young people who consume in nightclubs, even to the point of disregarding them, they are completely drunk today, and worry about tomorrow.

   In fact, South Korea's employment rate and real income have not changed much since the 1997 Asian financial crisis.

Although the South Korean government uses credit card overdrafts to stimulate domestic consumption, the data shows good looks. It is not only short-lived, but also has to repay the loan plus interest according to the agreement signed with the IMF (International Monetary Fund). Wait.

   Korea's big cities such as Seoul and Busan may not be very obvious, but its small cities are very obvious. Combining with the Korean movie "Sea Mist" that I watched in the previous life, I completely figured out that the real details of South Korea's current situation are the puffiness of my swollen face.

  The South Korean LS City in the movie is located in the center of South Korea's south coast. It is the second largest city in Jeollanam-do, South Korea. It has 1 city, 6 faces, and 21 holes, with a population of 330,000, 95,396 households, including 1,722 civil servants. The total area is 497.53 square kilometers, of which 23.3% are cultivated and 63% are forest.

  As a captain, the male protagonist used to be famous. He was able to spend 2 million won in a nightclub in a night. The deeds are still remembered.

  In LS City, the best jobs used to be the captains who went out to sea. Nowadays, it is not as good as before. Some people sell their boats and go to other places to move bricks to survive.

  The male protagonist came home and saw his wife cheating with another man, and was scolded by his wife, saying that he was useless and could not make money back. In desperation, he also used his fishing boat to start a business of transporting smugglers from the sea to South Korea for others.

  There is a scene where a conflict broke out between the crew and the stowaways. The crew repeatedly said to the stowaways excitedly, do you know the IMF? Let them run out of food. You are not compatriots at all, you are just here to grab a job or something.

   Furthermore, Masayoshi Kishimoto noticed that under the brilliance of many Korean women, they all rely on the credit cards in their hands to support the women's final face and dignity.

   As for many Korean men, they just use the credit card in their hand to pretend. This is the case most often in nightclubs.

   "The credit card storm in Japan is a disaster for some people." Ida Kameji pondered for a long time, and the thoughts in his head returned to the past.

   "If someone loses money, then someone will make money, so it is possible to maintain a balance of money in and out. The credit card storm in Japan is a disaster for many ordinary people who overuse credit cards, but it is a boon for others who make big profits."

   Masayoshi Kishimoto is well aware that it was only in 2006 that the Supreme Court of Japan stipulated that all interest exceeding the upper limit of the "Interest Limitation Law" is invalid, and the loan amount cannot exceed one-third of the borrower's annual income.

   At the same time, the upper limit of the annual interest rate for loans under 100,000 yen is 20%, the upper limit for the annual interest rate for loans under 1 million yen is 18%, and the upper limit for the annual interest rate for more than 1 million yen is 15%;

   All the extra interest will be refunded to the borrower. Before that, there were regulations that capped the annual interest rate at 29.2% as long as the borrower agreed; so almost all consumer credit companies in Japan had an annual interest rate of 29.2%.

   As of the effective date of this decree on June 18, 2010, more than 60% of the nearly 4,000 registered consumer credit companies in Japan have not yet registered with credit information agencies, so they are prohibited from issuing new loans.

   It can be seen that the people and companies who have made excess profits from the credit card storm in Japan are making a lot of money. Since 2006, the market share of consumer finance companies has gradually decreased.

   In 2010, Takefuji, Japan's largest consumer finance company, declared bankruptcy. The era of usury and violent collections it represented in Japan is coming to an end.

   (end of this chapter)