The Youngest Son of Sunyang

On the morning of March 14, 2003, the first director of the Financial Supervisory Commission from the Yeouido Building was as deep as the cloudy weather.

He was investigating a quarterly accounting case in SK Global because he found a problem that would shake the entire financial market.

He looked under a microscope at the funds containing the bonds of the SK group and thought oddly that the size of the buyback request was broad compared to the size of the funds.

And we found out that it was cardboard.

Card debits are short-term funds borrowed by credit card companies to cover card payments used by customers. The credit card itself is a link made up of debt.

Already, since the second half of 2002, there has been an unsettling view of gold deprivation due to the rise in fructose competition and bad credit.

However, if there are no special variables in the extension of the maturity of the bonds due to the high number of bonds based on the assets, a big problem would not occur.

However, short-term loans abroad were halted as a result of the North Korean nuclear crisis, and financial market anxiety was an unmitigated crisis due to SK Global's quarterly accounting incident.

Card bonds were known to be about 50 trillion in size, but investigations above the gold standard showed that they could no longer stand idle for more than 90 trillion.

The financial authorities held a financial policy council at the Myeong-dong Bank in Seoul, which was chaired by the Ministry of Religious Affairs.

Emergency meetings passed overnight and on March 17, credit card companies announced comprehensive measures.

The plan was to support funding by partially mitigating credit card regulations based on the company's strong efforts and resin improvements.

The problem was the card company's strong vigorous efforts.

The term ' ‭' includes pressure to reduce debt even by spending company money.

However, the families value their wealth more than the company. To prevent card companies from failing, the company's money and government funding were almost as bad as the situation was.

“Short-term bonds?”

“I'm barely raising money for subsidiaries, but I can't last a few days. ”

“We temporarily reduced our cash and card usage limits. However, we will have to discontinue the cash advance next month. Not enough cash."

The vice president rubbed his forehead. I thought I was sweating, but I was mistaken.

In heavy industries, he was able to detect changes in the market over the course of the long term economy. But it was really hard to bear the situation of having to roll money every day in financial institutions such as card companies.

“We need to attract more affiliate funds. Or the big problem next month.... ”

“No. We can't let our hard-earned affiliates get into trouble to lend us their money! ”

“But if the cash service is stopped, it's out of control. ”

“Yes, disabling cruise cards will adversely affect the cardholder stock price as well as the entire cruise group. ”

As the executives worried, the vibrator vice president stopped his hands from rubbing his forehead.

“What are you doing? Is today's agenda a threat to me? Aren't we all here to come up with a countermeasure for that risk? ”

The name of the short-term foreign bond card is plausible, but it is a debt anyway. The time has come for us to repay our debts. Paying off your debt is the only way to pay off your money.

Officers are squeezing money to pay their debts, but there's no other way, so there's nothing to say but a warning.

There is no immediate way to put out the fire. The vice president of the vibrator can pull out the hidden money. It could be hundreds of billions if you can't. But no one can say it.

The vibrator vice president disdains the silent executives.

“Joon Joo... No, what's the status of the bonds in circular life? ”

This is the part that concerns him the most, so let's not get ahead of it.

“There are only two months left for 300 billion repayments. This must be extended. Honestly, no repayment is possible. ”

As expected, only the most extreme options remained.

At that moment, I heard the voice of an executive in the corner of the conference room.

“Mr. Vice President, I don't want to have a discussion about what the government has said about self-discipline. ”

“What?"

“You need to increase your card issuer's capital. All measures are contingent, unless security is assured, and one day you will face the worst of circumstances: suspend your card. ”

It wasn't that other executives didn't know, but it was a burden to speak in public.

The cruise card has no affiliate equity. Increasing capital does not help the group's dominance at all. Rather than increase the capital of such companies, it is better to increase the capital of circulating heavy industries to strengthen the Vice Chairman of the vibrator.

And lending money to a card company and putting out an urgent fire is the answer that the Vice Chairman of the vibrator wants and thinks.

However, the unnoticed executive urged the vice president to respond.

“There is a belief in the name of the circus group. There won't be a lot of pressure to raise the capital of the cruise cards. ”

“Hey, we'll talk about that later... ”

The executive sitting next to me frowned and dried, but it was too late.

“Really? How much do I need? Tell me what you think. ”

“400 billion.”

“Is that money okay? ”

“Yes. Not only can you put out the fire urgently, but you can also manage the money reliably. Four times more is possible…. ”

“Let's sprinkle 5,000 won face value on 20,000 won? ”

“I don't think it's a problem because it's a cruise group. With 100 billion capital, 300 billion capital surplus, and 400 billion total, this challenge can be solved. ”

The executives did not hide their nervous expressions, but the comments they wanted to share were publicly on the conference room table, and they felt relieved.

“But, Vice President, we have to extend the loans of cruise life by 80 billion, and even if it's more than 400 billion, there's no way to stop the loans of cruise life. ”

Those who don't notice don't notice to the end. If you had read the vibrator's face at all, you should not have said the last word.

“Now that you've turned it all upside down, there doesn't seem to be anything more to talk about.... Would you like to end the meeting?”

The vibrator vice president left the conference room without even looking back. His voice was stuck in the conference room while they were all in the lounge room.

“Look at me, the owner of the card. ”

Soon Yang Card ran out of the conference room like a sprinter. I heard a calm voice as I approached the vice chairman of the vibrator walking loudly.

“I don't want him to see me tomorrow. And I'll figure out what to do with the cruise bond, so you take care of the rest. ”

I don't have to tell you his name.

When 100 billion capital increases, it falls below 30%, while the domination of the cruise card crosses the water.

Treasurer owners abandon their company rather than lose control.

Don't they always accept that fugitives are dying?

“Yes, sir. ”

Ms. Sunyang saw that she had only a few days left to live. Maybe the first tour group to go bankrupt.

I bit my lip without knowing that I might resign from dishonor.

* * *

“Everyone, get rich" or, "Dad said," Enjoy life. "Now we all know how ridiculous that ad was. ”

“If I knew, I'd forget. If I could remember everything, would there still be these imposters in Korea? ”

Oh Se-hyun showed a cynical smile.

“Now tell me the truth. Did you have a hunch about this? ”

Not intuition, but what I saw. But the answer was different.

“It's a growing debt business. It wasn't this bad, but I just thought it was too much to lead the company. ”

“After all, the bomb in your arms is gone. It's a fortune.”

“I'll bring it back when the bomb disappears. ”

“Will it be okay?"

“A credit card company is like a bank that loans money and takes interest first. It's a ground-based swimming business if you're careful about issuing cards and limits. ”

The bank scrutinizes and secures customers who want loans before lending money.

Card companies don't have to be like banks. It is because most loan periods are one month and are small. The risk of loss is dramatically reduced as long as the customer's credit and income are well determined at the time of the initial card issuance.

Why do you insist on such a business?

“It won't be easy to reclaim the cruise cards. ”

“You don't have to rush, but you have to buy stock at a falling stock price. And I'm a major creditor, aren't I? There are many ways.”

It's easy to reclaim a card company. Hard is a win-win.

The vibrator vice president should make a sad speech to his older brother, the vice president of the camp.

To do that, I have to do something horrible... It's not that hard.

And that day came right away. It meant that the fire that fell on the card company was hot.

“Big Daddy, you can't do that. I grew three noses. ”

“What?"

The vice president opened his eyes and began to stare at me.

“I'm stuck on a string of cards. Life, fire... It's all about austerity. I'm looking into short-term borrowing, too. Would you borrow money from your father's hospital? ”

In 99 and 48 trillion cash loans rose to 268 trillion at the end of last year. As soon as the credit line was lowered, 3 million bad actors poured in.

The Korean economy has already suffered from arterial sclerosis. There were not many companies that shouted that there was no problem.

“Our monthly premiums are half empty. If my oldest father doesn't settle the bonds, we're in trouble, too. ”

I threw the chunky paperwork away, shaking like never before.

“Take a look. The funding plan collapsed, and the entire affiliate fell apart. You know, we're all about money, right? Your father is a Heavy Industries subsidiary, so he's better equipped than we are. ”

“Don't talk. He's ripping off the other affiliates' savings and sticking it to his cards. This is gonna be a bummer. ”

My older father's thumb is not normal either. No, I mean, isn't this a big deal?

“Anyway, just a little more. Maybe the government will fund.... ”

“No, there is no government support. It exploded as soon as the new government entered. That's what I get for swiping a card. There is no courage to ignore and enforce the public opinion of the moral harm. ”

Oh, my God, that's smart.

If you postpone it until the end of the bond maturity, you can really beat the back of your head, but you can be careful in advance.

“Are you going to stay like this? If my oldest father doesn't settle our bonds, I won't make it. In the meantime, even the interest on the bonds has been taken care of. This is the limit. ”

The vibrator vice president did not hide his embarrassing expression. Seeing that face, I said to myself.

“Why don't you borrow some money outside? ”

“Joon, if I had a place to borrow money, do you think I would say something to your niece? Banks sway for cards, too. ”

“No matter how hard it is, he said he was going to be three rich people. There are a few hundred billion easy places to lend, right? ”

Suddenly, the Vice President's eyes flashed.

“Where? Is there a place with that kind of funding? You're not talking about the Myeong-dong loan sharks, are you? ”

“If you go to Myeong-dong, you'll get there. Not there... Isn't your eldest father here? ”

I snapped my finger up and stabbed it.

“Big Brother!? ”

The vice president of the vibrator frowned.