The youngest son of the chaebol family, Hu Mou Xianmin

Chapter 655 Coping
"Of course! But based on the current bank loan interest rate of 10%, can LG Group repay such a huge sum of money within a few years? The annual interest will exceed [-] million US dollars! Such a huge repayment pressure, Is President Goo confident that he can survive this?" Wu Shixian said meaningfully.

"..." Gu Benmoo's face suddenly changed. Although this is a fact, when he heard such a cruel future, Gu Benmoo felt like he was struck by lightning. If he really does this, I am afraid that LG Group will not be able to do so in the next few years or even ten years. It’s hard for a city to stand up!

As for the bad debts and bad debts of LG Credit Card Company, it is impossible to resolve them in a short while!The LG Group is a serious enterprise, and it is not easy to excessively collect loans.

……

Seeing Gu Benmoo still couldn't make up his mind, Wu Shixian was sensible and didn't say anything more on this matter.He just looked at his watch, and then said with a smile, "It's getting late, why don't we discuss it here today. If Chairman Gu figures it out, he can contact our Miracle Group later!"

Just when Wu Shixian was about to get up and leave the conference room, Gu Benmoo sighed and said, "President Wu, please stay!"

"...& I have carefully considered your proposal, and I will do as you said before! Our LG Group sold 51% of the shares of its two subsidiaries, LG Electronics and LG Household & Health Care... for a transaction price of US$10 billion! "

Koo Bonmoo expressed his decision with some difficulty, feeling a little uncomfortable.It’s really a shame that the LG Group has to rely on selling off its subsidiaries to survive the difficulties that his father’s generation has worked so hard to build.
When Wu Shixian heard this, a satisfied smile appeared on his face, "Now that Chairman Gu has made up his mind, it's the best! I believe that with this funding, the problems faced by LG Group can be solved smoothly!"

Gu Benmao smiled, but the smile on his face was extremely forced.

……

LG Group, which obtained a large amount of funds through the transfer of company shares, returned a large part of the funds under repeated urging from KB Bank and Woori Bank. This surprised the heads of the two banks, but they were not satisfied with LG Group. Very satisfied with the action.

Following the "example" of LG Group, many state-owned banks have requested early repayment of loans from companies that had previously applied for credit card services.This has caused many domestic credit card companies to complain endlessly.

The money in the accounts of many credit card companies is less than 1/10 of what they once borrowed. In order to make profits as soon as possible, they have already released most of the funds to customers who applied for credit cards.Now forcing them to pay back the money won't cost their lives, right?
Many credit card companies have complained to the Financial Regulatory Services Bureau about the debt-forcing actions of state-owned banks, which is a clear violation of their previous agreements!If we really do this, credit card companies like them will go bankrupt!
……

Media reporters who follow current hot topics are reporting on it, and many credit card users are suddenly panicked!You must know that in order to stimulate the economy, those banks and credit card companies said that using credit cards for shopping will provide discounts, installment repayments, and minimal pressure!

Now in order to repay the loans borrowed from banks, credit card companies can only mobilize their credit card users.But how can they come up with so much money at once~!

------Dividing line------

Blue House, in a certain conference room.Mr. Lu, who originally thought he could easily handle this trouble, was frowning at the moment. After the cigarette in his hand burned out, he subconsciously lit another one and took a heavy puff as if to vent his dissatisfaction.

"Mr. President, I'm afraid there will be chaos if this continues! Now LG Credit Card Company has obtained a large amount of funds from nowhere to repay nearly half of the loans. Other credit card companies will not be able to repay those loans in a short period of time. !" A member of the think tank said helplessly.

"...Then what should we do now?! Do we really want to agree to the harsh conditions proposed by Goldman Sachs Group?! Do we want to transfer the shares of our country's financial institutions to these hateful foreign capitalists?!" Mr. Lu said angrily, before The demands made by Goldman Sachs made him furious.

After learning that they could not repay their debts on time, representatives from the Goldman Sachs Group quickly proposed a seemingly reliable plan: Bangzi Country could use the shares of state-owned banks to sell them to the Goldman Sachs Group, and the previous debts would also be sold to them. It no longer exists.

Such a proposal made everyone present at the Blue House very dissatisfied. If such a request is agreed to, what is the difference between it and betraying the country? !In which developed country in Asia do state-owned financial institutions and enterprises have foreign capital holding large shares? !
Once this matter gets out, Mr. Lu's fate will probably not be any better than that of the former president!

……

"Mr. President, judging from the current situation, it may be impossible to repay such a huge loan in a short period of time! The plan proposed by the representatives of Goldman Sachs Group may be the most feasible way at present!"

"We only need to control the proportion of shares to be transferred and maintain it at around 10%, so that they will not have a greater impact on these banks in our country. At that time, we can also claim to the outside world that Goldman Sachs is optimistic about us. We are committed to the economic development of Bangzi Country, so we chose to invest in these banks of ours!”

A mature and prudent member of the think tank said that he had put a lot of thought into coming up with such a feasible approach and rhetoric!
"Control the shares to 10%?! Counselor Park, what you say is too naive, isn't it? Even if KB Bank, Woori Bank, Nonghyup Bank, Industrial Bank...each of these banks transfers 10%, I'm afraid they can't You won’t accept it easily?!” Another think tank member next to him retorted.

"...If the shares transferred by these banks are not enough, what about adding the shares of some state-owned enterprises? Is this the head office?!" After being retorted by his colleagues, Counselor Park felt a little embarrassed on his face, and quickly added a way, Add persuasiveness to your proposal.

……

Mr. Lu, who was sitting on the main seat, heard about Staff Park's plan and thought about it for a while. He personally was more inclined to this idea.By converting the debts of Goldman Sachs Group into investments in state-owned banks and state-owned enterprises, and at the same time imposing a limit on the shares they hold, they can also have a "decent" explanation in front of the media.

After this difficulty is over, they will be able to free up their hands to solve the problems of domestic credit card companies and continue to promote the construction of new cities!
"Okay! If you don't have a more appropriate way, then just follow Staff Park's suggestion~!" Mr. Lu finally decided directly on the next response measures.

"Yes!"

(End of this chapter)