South Korea seized the Chinese fisherman’s speedboat. How did the United States repair it in 1998?

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Original: housha source wechat official account: housha has been authorized to reprint

After the new president of South Korea, Yin Xiyue, took office, the US ROK relations heated up rapidly. In late May, Biden chose South Korea as the first stop of his Asian tour. He slept in South Korea for two nights first, and then went to Japan for two nights.

Corresponding to the warming up of us ROK relations, there are signs of tension on the Korean Peninsula. If the DPRK had not been affected by a sudden large-scale COVID-19, its military action would have been stronger, which indicates that Pyongyang has detected a certain danger signal.

In China ROK relations, there has also been a minor official and civil friction. At about 8:00 p.m. local time on the 11th, the South Korean Coast Guard detained a 5-ton speedboat from a Chinese fisherman in the waters 35 kilometers west of little Qingdao, Wengjin County, Incheon City, on the grounds of “attempting illegal fishing”.


At present, the Chinese captain a and other two people and several pieces of fishing equipment have been escorted to Incheon marine police port for investigation. Incheon is a sensitive port, but the South Korean coast guard made a fuss.

Maritime fishery disputes between China and South Korea are not uncommon. In the past five years, Moon Jae-in, the two countries have done quite well in terms of control, without any major twists and turns.

Therefore, just one month after the establishment of the New South Korean government, the “seizure” incident occurred on the 11th. It is hard not to think that South Korea is expressing its loyalty to the United States.

In terms of security in Northeast Asia (the US led alliance system), South Korea also shows signs of catching up with Japan.


At the 19th Shangri La forum, the defense ministers of the ROK, the US and Japan held their first trilateral offline meeting after two years and seven months.

The “joint statement” after the meeting even excited the western media, including the “dark criticism” of China and the “first mention” of Taiwan related issues – “emphasizing the importance of peace and stability in the Taiwan Strait”. The South Korean side could have refused to issue such a “joint statement”, but the current South Korean government is very obedient to the United States and dare not resist at all.

In addition, South Korean President Yin Xiyue will attend the NATO summit in Spain on June 29. He will become the first South Korean President to attend the NATO summit.

Last month, South Korea also announced that it officially joined the NATO Cyber Defense Center, and was very happy.

That is to say, South Korea, which originally intended to avoid the “Indo Pacific strategy” used by the United States to form gangs for confrontation, has now changed its attitude to undressing and throwing in arms.

The yinxiyue government has been so active in cooperating with the United States just after the full moon. If South Korea’s foreign policy continues to develop according to the trend, South Korea will become very dangerous in the next five years.

This “danger” refers not only to the Northeast Asia region, but also to the security danger faced by South Korea itself.

The United States will not pity the South Korean because of their slave gesture. Before the 21st century, South Korea regarded the United States as a suzerain and the United States regarded South Korea as a colony.

Even so, the United States has no hesitation in plundering the hard-earned money of the Korean people. The Asian financial crisis of 1997-1998 is the best proof.

Korean blood

The financial storm, which began in Thailand in July, 1997, was a comprehensive looting of Asia by the Wall Street financial capital group, and South Korea was the fattest piece of meat on the table.

At that time, Hong Kong had just returned to the motherland, and Beijing focused its defense on Hong Kong, trying to protect Hong Kong’s financial industry from disastrous consequences, and finally successfully repulsed Soros and other international financial giants.

Japan’s Ryutaro Hashimoto cabinet chose the attitude of “sweeping the snow in front of its own door”. As the world’s second largest economy and the strongest economy in Asia, Japan refused to provide relief funds to the countries in distress and allowed the fire to spread.

Asian countries have no choice but to rescue the IMF (International Monetary Fund) and the world bank, which is exactly what the United States wants to see.

If Japan dare to openly challenge the US financial hegemony and make the International Monetary Fund (IMF) and the world bank lose their influence, Japan will be unable to bear the political consequences.

South Korea is the first of the four little dragons in Asia, but in this storm, South Korea’s economic vulnerability was completely exposed. Although the Koreans also tried to struggle, it only added a little excitement to the Americans when they conquered.

The economic scale of South Korea is larger than that of Malaysia + Indonesia + Thailand. It is a hard dish. The United States doesn’t care about the “US ROK alliance” at all. It just cares about how much meat and blood it can chew on South Korea.

In addition to enjoying delicious food, the United States should also take this opportunity to permanently control large Korean enterprises by American capital.

When hot money runs away, foreign capital withdraws, and creditors press for debt, the Korean currency faces a crash. On november6,1997, South Korea started the Korean won defense war. It wanted to use its own ability to recover the situation and was unwilling to accept the “assistance” (blackmail) from IMF.

On November 17, the Korean won defense war lasted only 11 days and ended in a disastrous defeat. Seoul closed the foreign currency market for three days, which was a near suicidal game.

On November 20, South Korea sent an urgent distress signal to China and Japan. It is in urgent need of short-term payment. Please give me a hand. Please give me a hand.

China said it could do nothing. Good luck. The Korean delegation had to leave Beijing.

Ryutaro Hashimoto told the Koreans that Yamaichi securities, one of the four largest securities companies in Japan, was about to close down. Please ask for your own blessings.

In a desperate situation, South Korea could only make a rescue request to the IMF, and the United States gave a barbell laugh… On December 1, the IMF insisted that South Korea close 12 banks first and formulate the 1998 economic plan in accordance with the requirements of the U.S. Treasury Department. The negotiations between the two sides broke down.

South Korea still wants to resist? On December 2, Alan Greenspan, chairman of the Federal Reserve, said: “Asia needs to accelerate the realization of a new economic system that encourages private investment.”

To put it bluntly, we want South Korea to completely liberalize to American capital and end its original development model.

On December 4, South Korea surrendered and accepted the IMF conditions. The two sides reached a $57billion aid agreement and jumped into the fire pit of the United States.

The IMF meat eating program was jointly formulated in Manila with the US Treasury Department. At the same time, at the Hilton Hotel in Seoul, the IMF and the US Treasury Department had another round of negotiations with the Koreans.

The meat eating plan has two contents:

1? South Korea must ensure the interests of creditors, close down some banks and implement economic tightening policies;

2? The Korean enterprise model and economic management reform are guided by the United States.

After South Korea accepted the plan, banks were closed one after another, money was tight, enterprises could not get loans, could not produce, the unemployment rate soared, and bankrupt enterprises were everywhere, which exacerbated the crisis of South Korea’s banking industry and entered the circular mode.

When the bankruptcy storm hit the large Korean enterprises, the Koreans could only sell them at a low price, and the acquirers must be large western companies.

Since december5,1997, South Korea has amended the foreign investment management law

1. We will relax control over the capital market and implement liberalization.

2. Opening the securities market to foreign capital.

3. Increase the proportion of foreign investment in domestic enterprises from 25% to 50%

4. Provide a larger market for Japanese products (the United States pays Japan for non intervention)

On the same day, the IMF announced that it would provide the first aid loan of US $5.5 billion to South Korea.

On December 18, another US $3.6 billion was given, but the won continued to plummet.

On December 12, it fell to 1891 won: 1 US dollar, while on December 4, it was 1701:1.

U.S. Treasury Secretary Robin said South Korea is not fast enough to advance the plan.

At the beginning of 1998, South Korea lost nearly one billion dollars every day due to the currency crash, and its credit rating was reduced to junk. The IMF’s “help” has turned the crisis into disaster.

The suicide rate in South Korea soared by more than 50% over the same period last year. In order to alleviate family difficulties, many elderly parents in South Korea chose to commit suicide this year. The real data are difficult to calculate.

Representatives and lawyers of large American companies rushed to South Korea. Samsung Group, a Korean enterprise giant, was dismantled and sold: Volvo took over the heavy industry department, Johnson took over the pharmaceutical department, and Ge took away the lighting department.

Daewoo Group’s $6billion Automotive Division was sold to General Motors for a mere $400million, and Daewoo basically disappeared.

Motorola in Europe has acquired all the shares of Korean app Telecom.

British Telecom acquired a majority stake in Korea post.

Bell Canada cut off part of Hansol, the South Korean telecommunications industry.

The proportion of foreign shares held by several large banks in South Korea has increased rapidly: 77.77% for the National Bank of South Korea, 73.64% for the foreign exchange bank of South Korea, 73.45% for the Asiana bank, 63.15% for the Bank of New South Korea, and 51% for the first bank of South Korea. Korea’s second largest bank, Korea Korea Korea United States bank, was directly renamed “Citibank (Korea)”.

This does not include the crazy harvest of Western companies such as Coca Cola, sigram, HP, Nestle, Interbrew, Novartis, Carrefour, Tesco and Ericsson in Korea.

This is a feast of human flesh. It took South Korea about ten years to go through the pain.

But South Korea soon forgot the robber style looting. It seemed that it was uncomfortable without the whip of the United States.


In fact, South Korea is different from Japan. It is not a defeated country in World War II, but it is willing to accept it under the whip of its master. Diplomacy, military affairs, justice, internal affairs and economy are all controlled by outsiders. The so-called president is nothing more than ruling the Korean people for the United States and serving the interests of the United States.

The “ship arrest” incident is not accidental. It is not only alleging to the United States, but also testing China.

China never owes South Korea anything, and we helped it out when it got out of trouble.

The great power confrontation between China and the United States is long-term because the United States wants to maintain hegemony.

If South Korea has to stand in line, it has to run into NATO circles.

The day when the coffin is covered in Korea is not far away.

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