Japanese investors

Chapter 247
The conversation between Park Junyong and Shin Yeonsu was not in Korean, but in Japanese.The two of them did this intentionally, on the one hand, to avoid being listened to by others.

Today's South Korea is not the South Korea that was colonized by Japan in the past, nor is it still economically backward after independence. It once regarded the Philippines as a model for learning.

Currently, many young people in South Korea speak English, but fewer and fewer speak Japanese.They are completely different from ordinary Koreans of the previous generation, who can basically speak some basic Japanese.

The reason why they are in this situation is not because they were born and grew up during the period when Korea was colonized by Japan, but because they saw and experienced with their own eyes the entire process of Japan's economic rise to prosperity.

In their era, Americans had far less money in their pockets than the Japanese.Some of the Koreans who were the first to speak broken English in the past were also the first to speak broken Japanese.

In the 80s and [-]s, wealthy Japanese, especially Japanese men, not only organized large numbers of groups to travel to South Korea for consumption, but also bought sex.

Many Korean women also married in Japan at that time, so that there are still many Korean daughter-in-laws in some places in Japan.

Ordinary Koreans look at the Japanese people who spend so much money. Apart from envy, jealousy and hatred, they basically only have low self-esteem.

They hate the Japanese, and even if they have money, they will not make it difficult for them.After all, it is true that life for ordinary people in South Korea is not easy.

When they have completely reversed this sense of national inferiority and turned it into a kind of arrogance, they will still learn from the Japanese in the past when they went to other countries to buy various things, either gambling or buying sex.

At one point, they even shouted that going to other countries for conspicuous consumption and gambling... is also patriotic and brings glory to the country.On the other hand, it brings the two parties closer to each other and enhances their relationship.Who told them that they all have part Japanese ancestry?

Xin Yanxiu asked with a serious face: "Do you think South Korea's housing prices will continue to fall?"

Park Junyong once said: "There is a high probability that it will continue to fall. In fact, the reason is very simple. Before the Federal Reserve did not continuously raise interest rates, the benchmark annual interest rate for deposits given by the Bank of Korea was 0.5%.

Even so, the market's reaction or expectation is that most of them believe that the Bank of Korea will cut interest rates, leading to zero interest rates or even negative interest rates like Japan.

As the Federal Reserve embarks on a continuous rate hike mode, the Bank of Korea can only passively continue to raise interest rates.The benchmark annual deposit interest rate has risen from 0.5% to the current 3.5%.

As a result, the annual loan interest rates of commercial banks in various large and small places will also rise accordingly.Under normal circumstances, the annual loan interest rate will be about 2 times the annual interest rate of the deposit.

Therefore, the annual interest rate of the loan is at least 7%.This means that for landlords, tenants, real estate speculators, mortgage lenders... as long as they borrow money from commercial banks, the interest they pay is N times what it used to be.

Not only that, when companies face a bad economic environment or predict that the economic situation will not be good in the next few years, they often will not expand reproduction through loans.

In order to protect themselves and reduce business risks, the safest way is to lay off employees and increase efficiency.This means that many ordinary Koreans will be unemployed.

Being unemployed is not the scariest thing, but the scariest thing is being unemployed and having a mortgage to pay off.House prices in Seoul have already dropped by an average of 30%.Some real estate properties have been cut in half, falling by 50% or even more.

Even people who don’t understand economics, finance, the property market, etc. can draw the conclusion from the recent number of suicides in South Korea that the economy is poor.The worse the economy becomes, not only will social security deteriorate, but the number of suicides will also increase.What’s the point of continuing to live when all hope has been lost, leaving only despair and personal debts that may not be repaid in decades? "

Xin Yanxiu nodded and asked thoughtfully: "House prices in Vietnam have also plummeted, and are almost about to collapse. There are more than 1200 unfinished real estate projects across Vietnam.

Isn’t it a great opportunity to take advantage of this opportunity to go to Vietnam to buy bargains?South Korea has surpassed Japan and become Vietnam's largest source of foreign investment.

In Vietnam, there are not only a large number of Korean factories, but also many Koreans living or settling down.Not only that, Vietnamese people are very friendly to Koreans.They are deeply influenced by the spread of Korean culture. "

Park Junlong made an analysis from his professional perspective: "South Korea has developed its economy for so many years, and generally speaking, it still has some financial resources.

After all, this country is the only country in the world that has been directly upgraded from a developing country to a developed country after World War II.The country is still the same as it was before.

Whether it is getting better or worse, overall there is still no qualitative change like South Korea, but more or less quantitative changes to varying degrees.

Although Vietnam's economy has developed to a certain extent, objectively speaking, it is far from enough.The sharp fall in the property market has had a huge negative impact on Vietnam.

Many high-ranking officials and wealthy people in Vietnam, especially a famous richest woman, have already been arrested.The corruption involved is even more shocking. "

He paused here, then changed the topic and said: "For Vietnam now, it is necessary to save the property market. Otherwise, the entire Vietnamese economy will be completely destroyed.

The economic results of decades of hard work will be destroyed in one day, and only a very small number of interests will be enriched, while the vast majority of Vietnamese will be severely cut off from a lot of leeks.

Many of them even had their chive roots harvested.People who bought a house with a mortgage loan not only lost their house and lost their down payment, but they also owed the bank a sum of money.

In addition, Vietnam still faces many problems!We must also maintain foreign trade exports and avoid a series of problems such as significant currency depreciation, foreign capital flight, and return to the United States.

If it is not handled well, the consequences will be disastrous.At that time, you want to buy the bottom, but unexpectedly it is not the bottom, there is a deeper bottom waiting for you. "

Xin Yanxiu said seriously: "What you mean is that it is not wise to buy Vietnamese assets at this time."

Park Junlong did not tell lies: "At the very least, I will not go to Vietnam to buy any assets at the moment. Judging from the current economic situation, the Federal Reserve is very likely to raise interest rates in a series of actions."

By then, South Korea's domestic economic environment will become even worse, and there will be room for further declines in housing prices.Rather than buying the bottom of Vietnam's assets, it is better to look for the right opportunity to buy the bottom of South Korea's assets. "

(End of this chapter)