Seoul, located in the Blue House Presidential Residence in the northwest of the city.

Early on Saturday morning, Kim Yongsan, the current South Korean President, who had been tense for several days, was woken up by his subordinates and brought some of the newspapers that had just been released today.

Kim Yongsan, who was still wearing pajamas, just read the title of a few newspapers, could no longer help but curse, pointing at a subordinate and shouting: "Whoever leaked the news, who, you idiots, you idiots, and these newspapers, they should be hung to death, hang them."

Then there was a sound of shattering and shattering.

After smashing a whole reception room, Kim Yongsan was a little calmer, but he had no appetite for breakfast. He urgently summoned the Blue House staff team to try to discuss countermeasures.

However, I couldn't wait for the Blue House to respond effectively. When the daylight came, news in today's newspapers and television that the current government would seek help from the International Monetary Fund (IMF) on shameful conditions spread throughout the streets.

Even though the country's economy has been in turmoil recently, most of the public actually did not know what the IMF was before. However, in various sensational titles such as "The Blue House conspires to sell off its motherland, the IMF will take over South Korea's financial sovereignty", "The Treaty of Yi Si will repeat itself, and South Korea will once again face the shame of the century", "I would rather be broken, and the introduction of the IMF is equivalent to attracting wolves into the house" and so on, the public's emotions are still easily aroused.

Especially in newspapers and TV, the "Treaty of Yisi" mentioned frequently has even touched the sadness of the Koreans.

In 1905, after winning the Russo-Japanese War, the Japanese government signed an unequal Treaty of Yisi with the Korean Peninsula, which was completely abandoned by China and Russia, and listed the entire peninsula as a condition for forcibly lending 10 million yen to North Korea, and included the entire peninsula in Japan's category of protectors.

Five years after taking over the peninsula economy, in 1910, Japan, which had gradually eroded, completely captured the country, completely integrating the peninsula from the so-called "protection country" that was originally hidden, into the category of "colonies". It then lasted for 35 years. It was not until the end of World War II that the Korean Peninsula was able to restore sovereignty.

In the newspaper and TV news on Saturday in South Korea, a large number of chapters were exaggerating that seeking assistance from the IMF is equivalent to signing the second "Yi Treaty". At the same time, it also used Thailand, which had already received the IMF's bailout, to make an analogy, which immediately ignited the anger of the Korean public.

The public's thinking is simple.

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No matter how difficult your country is, it is definitely not a reason to sell your motherland.

It is better to be broken than to be broken.

So, on Saturday morning, when people were found demonstrating outside the Blue House during the live TV broadcast, a large number of people in Seoul took the initiative to go out of their homes and began to gather at the presidential residence in the northwest of the city.

By noon, outside the Blue House, the sparks of only a few hundred people had rapidly expanded to a huge scale of tens of thousands, and were still increasing. The public held signs and shouted slogans, demanding that President Kim Yongsan must make a public statement. In any case, they could not seek help from the IMF like drinking poison to quench thirst at the cost of betraying the country.

If it was another time or other event, the Blue House might be able to deal with it calmly.

But it's now.

No one knows the country's critical situation better than the senior management of South Korea. The entire South Korea, not about the stock market or currency, is just the short-term foreign debt that needs to be repaid within one year, is close to US$90 billion, and one-third of them need to be paid before the end of the year. However, the foreign exchange that the Bank of South Korea can use is less than US$8 billion.

Unless the government cheats and refuses to repay, if these debts are not paid, then only one will be the country go bankrupt once they are due.

The result of corporate bankruptcy is only liquidation or layoffs. Not to mention the rest, it is just one of them. The loss of national credit leads to the infinite depreciation of currency, which is not something South Korea can bear, because it means that the wealth that a country has accumulated for decades will be gone.

Just like Russia after the unlimited depreciation of the ruble a few years ago.

The former Soviet Union was able to compete with the United States for half a century. Even if the economic size cannot be compared with the United States, the initial financial resources left by the disintegration to the former franchisees was still very rich. As a result, due to the depreciation of the currency, the tragedy of many countries in the former Soviet Union was no less than the Great Depression of the United States back then.

Therefore, if the country goes bankrupt, there is no doubt that South Korea will at least fall into a great depression that lasts for unknown periods. At that time, enterprises will go bankrupt on a large scale, public unemployment rate will rise rapidly, and even social order will collapse.

The real end of the world.

Compared to avoiding this doomsday scene and seeking help from the IMF is almost the only option for South Korea to not undermine international rules.

As for breaking the rules and forcing cheating, this is also a way.

But will other countries allow it?

Don’t forget that the South Korean capital is stationed with tens of thousands of strong American troops!

The people are always prone to self-paralyzing and selectively ignoring, but the Korean upper class will not ignore it. It is true that these military forces can protect South Korea from foreign invasions at critical moments, but in some cases, forcing South Korea to take over is also something that can happen in a moment.

Even sovereignty is incomplete, how can you cheat?!

In addition to the economic level, the Blue House also faces another important political issue.

general election.

1997 is the 15th presidential election year of South Korea, and this year's election will be held on December 18.

According to the South Korean Constitution, Kim Yongsan can only serve as president for one term and cannot be re-elected. However, Lee Hyo-chang, another candidate of Kim Yongsan's ruling party, is still fighting for the top position.

The media suddenly came to this, and Kim Yongsan's support rate was damaged, which would inevitably affect Lee Hyo-chang, who was already behind another candidate Kim Dae-jung in the general election. Moreover, once he lost the election, according to South Korea's political rules, the entire ruling party group may soon lose power.

dilemma.

In the end, after only one day of confrontation with the people, the Blue House quickly chose to compromise. After all, this is an urgent matter. If the trouble continues, it is hard to say what will happen. That afternoon, Kim Yongsan personally delivered a TV speech and publicly stated that he would not accept the IMF's rescue.

At the same time, we call on the people to unite and overcome difficulties together.

South Korea's turmoil quickly spread to the international community.

Faced with the attention of the international community, after Kim Yongsan made a public statement, Michael Kantsu, the current IMF chairman of the IMF headquarters in Washington, said in an interview with reporters that the IMF is a neutral international financial institution and will not forcibly issue loans that the other party does not need to be loans to any country.

However, Kantsu also emphasized that in order to ensure that the IMF loans can be used reasonably, loans issued by the IMF to any country will have appropriate additional conditions, and the IMF will not give in without any bottom line.

The statements made by both sides actually mean that the aid negotiations originally planned by the South Korean government with the IMF have ended before they even began.

While the Korean people celebrated this victory the next day, international speculators also began to increase their layout in South Korea with greater efforts.

Because everyone understands that South Korea's explicit rejection of the IMF's bailout this time means that South Korea's domestic and foreign capital will accelerate its escape, South Korea's foreign debt market will also usher in a sell-off frenzy, and the stock market plunge will also continue, and the more direct and serious result is that the depreciation of the Korean won will accelerate.

All in all, the country will continue to slide into the abyss.

It's only one step away from a complete collapse.
Chapter completed!