21 years since then
... Movie release of "National Bankruptcy Day" in South Korea
https://jbpress.ismedia.jp/articles/-/54877
https://headlines.yahoo.co.jp/article?a=20181206-00054877-jbpressz-kr
https://headlines.yahoo.co.jp/article?a=20181206-00054877-jbpressz-kr
국가부도의날 [유아인시점] / [결말포함/영화리뷰] / 옛플릭스
National Bankruptcy Day [Infant Perspective]
/ [End included/Movie review] / Old Flix
731,978 回視聴
2020/03/26
731,978 回視聴
2020/03/26
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Good morning .
This is Old Flix, a channel introducing old movies.
This is a channel that briefly introduces movies to those who cannot watch movies because of the busy world.
This video is a review video from the perspective of one character (Yoo-in) in the movie.
If you watch the video, you can experience that it is fun to follow the story of one character in the movie :)
The movie is set in the background of the IMF era when the dollar exchange rate rose.
This video consists only of the story of a man who took the crisis as an opportunity and bet on the bankruptcy of the country.
It's part of the movie, and if you're curious about other characters,
It is recommended to watch the movie'National Bankruptcy Day'. It's a really fun movie and you won't regret it.
This is Old Flix, a channel introducing old movies.
This is a channel that briefly introduces movies to those who cannot watch movies because of the busy world.
This video is a review video from the perspective of one character (Yoo-in) in the movie.
If you watch the video, you can experience that it is fun to follow the story of one character in the movie :)
The movie is set in the background of the IMF era when the dollar exchange rate rose.
This video consists only of the story of a man who took the crisis as an opportunity and bet on the bankruptcy of the country.
It's part of the movie, and if you're curious about other characters,
It is recommended to watch the movie'National Bankruptcy Day'. It's a really fun movie and you won't regret it.
On November 28, 2018, the movie "National Bankruptcy Day" depicting the IMF economic crisis was released in South Korea. First, he overtook the blockbuster "Bohemian Rhapsody" on the weekend and jumped to the top of the audience.
The movie is set in South Korea in 1997, 21 years ago.
In 1996, the year before, South Korea joined the OECD (Organization for Economic Co-operation and Development), which can be said to be a developed country club. The economy was in great shape.
■ 1997 when "abnormality" was seen from the beginning of the year
However, from the beginning of 1997, when the new year began, "incidents" began to occur here and there. In January, the Hanbo Group, a medium-sized steel maker, went bankrupt.
Starting with this, mid-sized conglomerates who have continued unreasonable expansion management fall into a management crisis one after another. Finance, distribution, machinery, construction ... Even Kia, which was a national company, falls into a business crisis.
The chain of bankruptcies will not stop due to the direct impact of the currency crisis that began in Southeast Asia. It's about this time.
In the movie, three stories proceed in parallel.
The first is a fierce exchange between the head of the female currency policy team of the Bank of Korea, the central bank, and executives of the Bank of Korea, the Finance and Economics Institute, and Aogawadai (Presidential Office).
How do you perceive the looming crisis? What should i do? At the same time, with the presidential election coming up in December 1997, the administration was at the end of its life and its centripetal force had declined significantly.
The voice that the public should be informed of the possibility of a crisis is drowned out. The wound grows bigger and bigger as you continue to exchange information in a closed room.
During this time, only some of the top conglomerates are secretly informed of the facts ...
In the end, South Korea faces the "crisis of national bankruptcy" and calls on the IMF (International Monetary Fund) for emergency assistance. However, this is not the case.
■ Strict demands from the IMF
The fierce "national structural reform demand" posed by the IMF.
The contents were tremendous, such as a drastic increase in interest rates, a large-scale reorganization of financial institutions, a drastic relaxation of foreign capital regulations, a relaxation of the requirements for dismissal of workers, and the exit of poor companies.
The shadow of the US government flickering in that shadow. The presidential election that goes on at the same time ...
As a result of tightrope walking negotiations, the IMF will provide emergency assistance to South Korea on December 3, 1997. South Korea, which was running out of foreign currency, received $ 55 billion in financial assistance.
On the other hand, under the strict control of the IMF, South Korea still calls this day "National Humiliation Day(National Bankruptcy Day)".
On the other hand, under the strict control of the IMF, South Korea still calls this day "National Humiliation Day(National Bankruptcy Day)".
One day, a big business talk unexpectedly jumps into the manager who was running the factory firmly with several employees. It was a product delivery to a prestigious department store in South Korea.
One condition is attached to the manager who is pleased to jump up.
"Payment is a bill"
Business owners who are able to settle cash will be reluctant at first. However, he responds by being persuaded by his trusted subordinates that "there is no way to miss such an opportunity."
It was just after that. This prestigious department store went bankrupt.
In the movie, this department store also appears under its real name. It's Midpa. It is now the Young Plaza Pavilion in Lotte.
The owner of the town factory loses even his privately owned home, literally becoming naked.
The third story is a section chief who worked for a non-bank. Non-bank, which had been growing rapidly due to the booming economy until 1996, had begun to change.
Movements to raise funds from South Korea have begun at foreign financial institutions.
■ Former financial man who made a lot of money by buying dollars
"There will be a lot of trouble going on. It doesn't make sense to be in this company anymore," he said, leaving the company first and starting an investment company.
"An unprecedented crisis is coming!"
We recommend investing in anticipation of a major turning point, but only two people have come to this expectation.
This is because the South Korean government has repeatedly said that there will be no crisis. "Buying dollars" was the first to invest the funds prepared by the two.
With the expectation that the won would definitely fall, he bought enough dollars to buy with street money.
This is a big hit. The next thing I noticed was real estate in Seoul.
Seeing that it will "fall down", he buys real estate at the bottom price, and then becomes rich and is called an "investment genius".
These three stories unfold rapidly during the 1997 Korean turmoil. "National Non-Sufficient Day" is such a movie.
This is because the South Korean government has repeatedly said that there will be no crisis. "Buying dollars" was the first to invest the funds prepared by the two.
With the expectation that the won would definitely fall, he bought enough dollars to buy with street money.
This is a big hit. The next thing I noticed was real estate in Seoul.
Seeing that it will "fall down", he buys real estate at the bottom price, and then becomes rich and is called an "investment genius".
These three stories unfold rapidly during the 1997 Korean turmoil. "National Non-Sufficient Day" is such a movie.
The IMF crisis was said to be "the biggest national crisis since the Korean War" (former President Kim Dae Jung, who was elected in the presidential election in December 1997 and was forced to recover).
More than half of the major conglomerates and financial institutions went bankrupt. Office workers, shop owners, self-employed people ... Many Koreans have changed their lives.
More than half of the major conglomerates and financial institutions went bankrupt. Office workers, shop owners, self-employed people ... Many Koreans have changed their lives.
Of course, there are many people around me who have changed their lives with the IMF. The "staffing" of large companies was tremendous. It wasn't a fuss about the shoulders.
When I visited South Korea in 1998, most of my acquaintances in their early 40s were "unemployed."
More than half of the major conglomerates and financial institutions went bankrupt. Office workers, shop owners, self-employed people ... Many Koreans have changed their lives.
More than half of the major conglomerates and financial institutions went bankrupt. Office workers, shop owners, self-employed people ... Many Koreans have changed their lives.
Of course, there are many people around me who have changed their lives with the IMF. The "staffing" of large companies was tremendous. It wasn't a fuss about the shoulders.
When I visited South Korea in 1998, most of my acquaintances in their early 40s were "unemployed."
■ IMF crisis with deep scars
There are still traces of it here and there. But it's been 21 years. The "IMF" is gradually becoming an event in history.
Both the Korean economy and businesses have shown a remarkable recovery in the short term thereafter. The IMF's support has been repaid, and large companies that have become more competitive through "structural reforms" have continued to grow rapidly.
On the other hand, with the "IMF" as an opportunity, South Korea has transformed into a super-competitive society and a super-disparity society.
At that time, the companies whose profitability deteriorated were sold, and when the business performance deteriorated, the companies that survived by large-scale rationalization continued the management called "rational" which cannot be said to be "human-friendly". It was.
The reason why the Moon Jae-in administration has set "inclusion" and raised the minimum wage, shortened working hours, and conversion of non-regular workers to regular jobs as priorities is because of the belief that it will somehow correct the "gap society". ..
■ Why are you watching a movie of the IMF crisis now?
So why is such a movie a hit at this time of year?
Watching a movie about an era that you didn't want to see or remember at one point means that time has passed and you have overcome the crisis.
However, on the other hand, many point out that "vague anxiety may be attracting a large audience" (Korean newspaper desk).
The Korean economy has few bright topics these days. Economic growth has slowed and youth unemployment is at its worst. When there are various statistical releases, the media writes that "the level exceeds the time of the IMF crisis" and "the level is comparable to the time of the IMF".
So what happened then?
The consciousness of wanting to know it again is the reason why people go to the cinema.
The film ends with a depiction of 20 years after negotiations with the IMF. The Korean economy is recovering and each is living a new life.
Still, he lives while dragging the IMF.
■ Will the crisis repeat? Vague anxiety spreads
Finally, the crisis ends with a recurring message.
Before and after the movie was released, statistics were released that South Korea's household debt exceeded 1500 trillion won (1 yen = 10 won).
The price of good real estate in Seoul has doubled in the last year.
"After all, this kind of thing won't last forever ..."
With the economic outlook for 2019 scarce, a movie titled "National Bankruptcy Day" is a hit in South Korea.
