1979, Manager Kim is Inheriting Dictatorship! - Chapter 58
Only Krnovel
Episode 58
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May 1988.
A time when the yen was at its highest value and the asset value market in Japan was inflated.
Japanese people can shop abroad for half the price of Japan, so they all go abroad to spend money.
It was a time when everyone was happy.
However, they were enjoying their current happy reality without even dreaming that it would eventually come back to them and become an economy they had lost for over 30 years.
“Are companies managing their debt properly?”
“Yes. We are managing the debt ratio of not only top 10 companies but also mid-sized companies to ensure that it does not exceed a certain level.”
The chief economic official looks at the data and answers me.
“Okay. You never know when an economic crisis will come. And that economic crisis starts with debt. Please continue to manage so that companies don’t shine and invest just because the economy is doing well now.”
The IMF financial crisis that started with the Southeast Asian economic crisis.
South Korea, which had a per capita GDP of $13,000 in 1996, experienced the nightmarish experience of its GDP falling to $8,200 in 1998.
At that time, South Korea was experiencing several companies going bankrupt every day, and the number of people committing suicide was so high that it wasn’t even news.
If I were just an individual, I would make money by purchasing dollars using the IMF, but I am the president responsible for this Republic of Korea.
From now on, my job was to manage and overcome the economic crisis in Southeast Asia and prevent the people from suffering.
“Oh.. and starting this month, start recovering all the money you invested in Japan.”
The chief economic official is shocked.
“Is that all…?”
“Why are you saying that? Didn’t you say when you invested that you would withdraw it this year?”
“Both stocks and real estate still have the potential to rise. I don’t think it’s a good idea to pull out now.”
The chief economist says now is not the time to back out.
It is true that even just a few years ago, most people were skeptical about investing in Japan, but now they are all positive about investing in Japan.
Perhaps it is because everyone has seen the Japanese asset market rising endlessly over the past two years.
But Japan’s economy was already slowly sinking.
In a few years, other countries will gradually begin to recover the amounts they have over-invested in Japan.
And if you recover it then, you will have to recover your investment at a greater loss than now.
Now is the right time to recoup.
“The Japanese economy is at its peak now. Now Japan is going downhill. The economic gap with the United States is too big. Of course, since it is such a large economy, it will not collapse in a short period of time, but it will sink gradually. We will be the first to get off this sinking ship. Of course, we will have to take all the gold and silver treasures with us.”
The chief economic official nodded, understanding that my determination was firm.
“Okay, I will tell the National Pension Service and the sovereign wealth fund to do the same. I will also tell companies to recover as much of their investment in Japan as possible.”
“Okay. Then let’s end today’s meeting here. Starting tomorrow, I will be on vacation for three days. It’s my first vacation in three years, so I hope everyone except essential personnel will get some rest.”
Everyone’s ears are perked up at the thought of a vacation that’s been going on for three years.
‘Did I make you suffer too much…?’
Even though I can’t help it, I feel a little sorry deep down inside.
###
Japan State Council.
Prime Minister Takeshita receives reports from his ministers.
The Minister of Economy reports in a serious voice.
“Korea has been withdrawing investment funds at an unusually fast rate recently.”
“Korea?”
“Yes. We are recovering our investment funds at a rapid pace, including stocks, real estate, and foreign currency.”
“Is it burdensome?”
The Minister of Economy hesitates a little and says.
“It’s actually quite burdensome. Korea has invested a lot of money in Japan in recent years. If all this money were to flow out at once, the asset market could freeze in an instant.”
“Um… Okay. First, I’ll try to talk to Korea about this.”
###
“I don’t know how many years it’s been since I’ve been this comfortable. Haha.”
I said this while looking at the chief secretary who was resting next to me.
“Mr. President, you need to take a break like this sometimes. If you get hurt while doing so, it will be a loss for the entire country.”
“Haha. Don’t worry. I know my body better than anyone else. But, Chief Secretary, you don’t have to follow me.”
Even though the chief secretary insisted on going on vacation to another nice place, he followed me to Ulleungdo.
“It’s okay. In fact, Ulleungdo is my hometown.”
“Oh. Is that so? Then shouldn’t you stop by home after a long time?”
“My parents live in Pohang. I moved to Ulleungdo when I was young.”
“I see. Still, it must be a new experience since it’s been a long time since you came back to your hometown.”
While we were resting and chatting about this and that, a staff member from the secretary’s office came running over with a cell phone.
Youngho stops the employee and asks.
“What? If it’s not something really important, I would have told you to take care of it yourself during the vacation.”
“That’s… Sir. This is a call from Japanese Prime Minister Takeshita.”
“The Prime Minister of Japan..? Tell him I’ll contact you after my vacation.”
I stopped the chief secretary who was trying to reject the call and took the call.
“It’s okay. It must have been important, so I walked like this.”
The secretary hands me a black and white 2G phone.
A year ago, South Korea began to distribute 2G black-and-white phones at the same time as developing CDMA technology.
If it were the same as before, we would have had to pay a huge amount of money to Qualcomm for the patented technology, but thanks to our independent development of CDMA technology as a secret shop, we were able to successfully distribute mobile phones several years earlier than other countries.
“President Kim Jong-guk. This is Takeshita. I apologize for not being on vacation.”
Prime Minister Takeshita’s voice sounds somewhat urgent.
‘Are you calling because of the investment recovery?’
“Prime Minister Takeshita. Hello. I have been meaning to see you since I took office, but I have been busy with various domestic matters and have not been able to visit you.”
“No. I know that Korea is busy, starting with preparations for the Olympics.”
“By the way, the Nagoya Olympics will be held in a few months. Are your preparations going well?”
“Yes. I am preparing hard.”
“Haha. That’s fortunate. If the Nagoya Olympics are held successfully, then the Seoul Olympics can also be held successfully.”
I continued the conversation, being a little coquettish.
And then I asked him why he called me.
“But I’m sure this isn’t the reason you called. So, why did you call?”
He hesitates for a moment, then speaks.
“President Kim. Are you aware that money invested in Japan from Korean pension funds and funds has been rapidly flowing out recently?”
“Um… Well, I don’t know. I’m not directly involved in each and every one of those issues. I don’t know…”
I pretended not to know and stuck my flippers out.
“Don’t pretend not to know.. How could someone like President Kim not know this fact?”
‘There’s no way this can be easily overcome…’
“Well… I don’t really know what you’re saying….”
Prime Minister Takeshita sighs in frustration as he continues to evade the issue.
“Haa… Withdrawing investment funds is a freedom in Korea, but can’t you slow down a little? If this much money is withdrawn at once, the market could freeze rapidly.”
Already, nearly 30% of the investment has been recovered.
There was talk of postponing the recovery of the remaining 70% of the investment.
“Hmm… I don’t know for sure, but I think our investment organization has its own reasons. If Japan doesn’t want to recover its investment, then they should come up with a suitable card.”
As negotiations seem to be opening up, Prime Minister Takeshita’s voice becomes brighter.
And then, a little while later, he blurts out something nonsense.
“Hmm… Then how about this. Regarding the Takeshima issue, Japan will… for the next 10 years.”
“Takeshima..? What are you talking about. This idiot..”
Suddenly, I couldn’t control my anger and curses came out of my mouth.
Fortunately, the swear words were in Korean, so Prime Minister Takeshita did not understand them properly.
“What did you just say?”
“Ah.. it’s nothing. You don’t have to worry about it.”
“Is that so···.”
Prime Minister Takeshita seemed suspicious of something, but did not ask any further questions.
And then he continues his nonsense.
“How about it? If you don’t recover the investment in Japan, we won’t assert the sovereignty issue over Takeshima for the next 10 years.”
Until the mid-1990s, Japan had little interest in Dokdo.
Although some far-right politicians and the Ministry of Foreign Affairs recognized that it was their land, they did not make outrageous remarks every day like they did in the 2000s.
But I never thought that a Japanese prime minister would emerge in this way.
Of course, if we solve this problem now, it could be helpful in places like international courts in the future.
But I had no intention of negotiating on this issue.
‘Why are we negotiating this…?’
“Prime Minister Takeshita, we have no intention of negotiating about Dokdo. Dokdo is an inherent territory of Korea. It is not an issue for negotiation with Japan. If you really want to negotiate with us, you should at least give us Tsushima Island. And you keep calling it Takeshima, but the name of this island is Dokdo.”
“Your words are a bit harsh. Dokdo is actually close to Japanese territory. The reason we are not making a strong claim to sovereignty right now is….”
The Japanese Prime Minister continues to spout nonsense from his rag-like mouth.
Then he quickly gets angry and continues his nonsense.
“President Kim! Don’t you know that we, Japan, are just watching Korea’s effective rule by force! If Japan wants to, it can mobilize its strong naval force and occupy Takeshima at any time!”
These crazy guys are definitely crossing the line.
The string of reason that was maintained momentarily is broken.
“Prime Minister.. I will tell you firmly. The moment the Japanese Navy comes even a little bit near Dokdo, the Japanese mainland will once again experience the hell of August 6 and 9, 1945.”
I blurt it out the moment I say it and then I feel like, “Oh no.”
‘Ah… I had an accident…’
“What did you just say!!! What..? The experience of August 6th and 9th, 1945..? There are things you can say and things you can’t say!”
August 6th and 9th, 1945.
It was the day that the nuclear weapons Little Boy and Fat Man were dropped on Hiroshima and Nagasaki, Japan.
It was one of the incidents that Japan was most reluctant to mention.
With these two nuclear weapons, Japan declared defeat in the Pacific War and was left without an army, as it is now.
“Prime Minister. I said what I said earlier because I was a little excited. I apologize. However, from our perspective, constantly bringing up Dokdo sounds like nothing more than an attempt to invade our territory.”
My apology does not calm the Japanese Prime Minister’s excitement.
“There are countless American troops stationed in Okinawa, Japan! Are you saying such things while forgetting that Japan is America’s closest ally?”
“Well, wasn’t Japan an enemy of the United States? You seem to have forgotten which country Japan most recently fought against. Korea is a blood ally of the United States. Even after the Plaza Accord, does Japan still believe that the United States is its ally?”
When the Plaza Accord and the Pacific War come up, the Prime Minister becomes quiet.
The reason why relations with the United States are currently estranged is because the Japanese Prime Minister knows better than anyone else.
With North Korea gone and the Cold War effectively over, there is no need for the United States to use Japan as a breakwater to block communism.
“.. .. .. .. ..”
“My earlier comment was a mistake made out of excitement. However, if Korea wants to, it can already drop nuclear weapons on the entire Japanese mainland. Of course, I don’t think that should happen. However, if Japan insists on entering Korean territory, we will never stand by and let that happen.”
This statement was not a lie.
The development of nuclear weapons had already been completed long ago, and intercontinental ballistic missiles boasted a range so wide that they could strike not only Japan, but also China, the Soviet Union, and the United States.
If they wanted, dozens of nuclear weapons could make the entire Japanese mainland uninhabitable again.
“I’m sorry, Prime Minister. I think the atmosphere has become a bit too tense.”
I give him a brief apology.
“.. .. .. ..”
“If you have nothing more to say today, I will hang up.”
“I’m sorry, President Kim. I may have been a bit harsh.”
“It’s okay. But I hope you won’t talk about Dokdo in the future. Dokdo is not something we can discuss or agree on with Japan in the first place. How would you feel if Korea were to ask Japan to come to an agreement over Okinawa or Tsushima Island?”
“Okay, I understand. I was being short-sighted···.”
Although it may be a bit harsh, the term nuclear weapons seemed to really hit home in Japan.
At least Japanese Prime Minister Takeshita will never be able to mention Dokdo again.
“I don’t think we can talk more today. I’ll contact you later. I’ll put off the investment recovery for about a week.”
“Thank you, President Kim. I will contact you after I calm down a bit.”
After I hung up the phone like that, I realized there was a place I wanted to go.
“Chief Secretary. How are the waves today?”
The chief secretary makes a phone call to someone nearby and then speaks to me.
“They say it’s calm today. Is there anywhere you’d like to go?”
“Really? That’s good, sir. Let’s go to Dokdo sometime.”
“Are you talking about Dokdo? The road there is rough. Are you okay?”
“It’s okay. Let’s go and encourage the Dokdo Coast Guard members. We’ve come all the way to Ulleungdo, so we can’t just leave.”
“Yes, I understand. Then I will prepare it right away.”
“Oh.. and please prepare to take some pictures. I need to spread this to foreign media. Before Japan keeps talking nonsense, we need to make sure that the whole world knows that Dokdo is an inherent part of Korean territory.”
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