The penniless son of the penniless ...

Chapter 37: The collapse of the Thai baht, Chung Ju-yung's headache

This sudden change also led to the exchange rate of the Thai baht being instantly taken over by international capital such as Soros. These greedy international capitals became the veritable "Central Bank of Thailand."

The roller coaster-like rise and fall of the Thai baht in the international market is completely the result of manipulation by international speculators such as Soros! Affected by the collapse of the Thai baht, the real estate and stock markets in Thailand plummeted. Seeing that the signs were not right, a large number of foreign capitals fled in an attempt to avoid risks~!

In this financial sniping war of shorting the Thai baht, Goldman Sachs Securities also reaped great rewards by following those international speculators in shorting the Thai baht. Moreover, since Soros and the Quantum Fund attracted most of the media attention, the other "followers" did not stand out, and many people were not clear about who specifically was involved!

……

Goryeo Kingdom, in a villa in Gangnam District, Seoul.

Zhang Junfeng, who had returned to Goryeo for more than half a month, received an email from Leon John, and all his original worries were swept away at this moment!

Zhang Junfeng leaned on the soft sofa and sorted out his thoughts. "...It seems that the progress of development in this world is almost the same as what he remembered. Only if he forcibly intervenes and takes the lead, will a huge change occur like Hanbao Steel..."

"If that's the case, then after conquering several small countries in Asia, Soros will adjust his target and set his sights on the richer Singapore, Hong Kong and Korea!"

Zhang Junfeng thought about it and soon came up with a new idea! He planned to contact Leon John again in the evening and ask him to help with the operation.

……

However, when Zhang Junfeng continued to browse the email, he suddenly saw a special email! Zhang Junfeng clicked on it curiously and saw that it was the annual report of the company founded by Vergara. It said that this year the entertainment company signed several beautiful models with good conditions and planned to launch a beautiful model swimsuit calendar project this year.

Zhang Junfeng smiled and said, "This woman is really very creative. It's amazing that she could think of such a business!"

But strictly speaking, this new project may be a good profit point! As the old brother in the same industry, Playboy magazine has developed this project to the fullest!

In addition to the sexy and hot artistic photos of beauties, the content published by Playboy magazine every month also includes introductions to fashion, diet, sports, consumption, etc. Its average circulation can be maintained at around 320 million copies, and about 1000 million American adults buy it every month. It is a sure money-making tool!
Zhang Junfeng smiled and gave an affirmative reply, and at the same time suggested that Vergara could learn from the big brother - Playboy. He was not afraid of insufficient funds, but was afraid that the models he invited for the shoot might not be eye-catching enough!
------Dividing line------

Hyundai Group, inside the chairman’s office.

Chairman Chung Ju-yung's face was very ugly. It turned out that a few months ago, Hyundai Group spent a huge amount of cash to acquire Hanbao Steel, a steel production enterprise, in order to prevent it from falling into the hands of Daewoo Group and Five Star Group. At the same time, the huge debt owed by Hanbao Steel also fell on their Hyundai Group. But before Chung Ju-yung could be proud of his big move, even more infuriating news came! Li Jianxi of Five Star Group actually sent representatives to Longguo to reach a cooperation with the steel production enterprises there, importing the steel needed for Five Star Group's production from Longguo, and the purchase price was even a little cheaper than that of Hanbao Steel!
Chung Ju-yung was so angry that he almost fainted. He lay in bed in the hospital for several days before he recovered.

But in addition to this unpleasant incident, the aftereffects of spending huge amounts of money to acquire Hanbao Steel have gradually become apparent.

Hyundai Group's overseas sales and profits showed a gradual downward trend. Coupled with the acquisition of Hanbo Steel, which drained the group's cash, Hyundai Group inevitably faced a financial crisis.

If no solution is found, there will be an embarrassing situation next month where the due debts cannot be repaid on time!
The sons sitting next to him were silent about this dilemma, and no one dared to speak out. After all, they didn't expect that their company would encounter such a difficult problem!

Seeing that his sons were silent, Chung Ju-yung, who was sitting in the main seat, roared angrily, "Ass! It is said that the five sons of the chairman of Hyundai Group are all capable generals. Now that they have encountered a problem, they can't even come up with a solution. They are simply useless!"

(Note: Chung Ju-yung should have eight sons, but the setting has been modified here, so there are only six sons. The eldest son, Chung Mong-pil, died in a car accident more than ten years ago)

The fifth son, Zheng Mengxian, felt very upset when he heard his father scold him. He gritted his teeth and said, "The overseas sales of our Hyundai Group products have declined mainly because Europe and the United States adjusted the tariff ratio this year. Unless we adjust the price of the goods, it will be difficult to reverse the current situation in a short time..."

Hearing what the fifth brother said, the second brother Zheng Mengjiu couldn't help but sneer and said with disdain, "If, as you said, the problem we encounter is to gain market share and sales by lowering prices, then why should we work so hard to open a company?"

"Is it worth taking such a big risk for such a small profit? It would be better to sell these unprofitable companies as soon as possible, so that we don't have to worry so much!"

Seeing the second brother angrily scolding the fifth brother, the "outspoken bird", the third brother Zheng Menggen and the fourth brother Zheng Mengyu's eyes lit up, and they all echoed their second brother and helped! The sixth brother Zheng Mengjun just stood by and watched this "good show" of brothers fighting quietly!
Seeing his brothers trying to put him down, Zheng Mengxian angrily retorted, "Since you brothers think my method doesn't work, do you have a better way? Why don't you tell me so that I, your younger brother, can see it?!"

Zheng Mengjiu sneered, and then said seriously, "Of course there is a way. At least I won't consider such a stupid way as lowering the price of the product to obtain short-term profits and turnover!"

"The reason why our Hyundai Group acquired non-performing assets like Hanbao Steel was because of the Blue House and even Mr. Yongsan! Now that our Hyundai Group is in trouble, we can also make a request to the Blue House and ask them to ask the bank to postpone the repayment period. We can fulfill the previous repayment agreement when our company's financial situation is alleviated!"

"At worst, we can ask the Blue House to help contact financial institutions in Japan and even Europe and the United States, and ask the Blue House to guarantee and apply for loans for us. Otherwise, if our Hyundai Group encounters problems and comes to a standstill, more than 10 people will face unemployment, and the series of problems that will be triggered will be much more serious than the bankruptcy of Hanbo Steel!"

(End of this chapter)