The following is on a dialogue article on 13 pages of three columns of monthly magazine WiLL February issue, Tatsuya Kato (former Seoul branch of Sankei Shimbun) and Kadota Ryusho (author and journalist).
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"Japan apologizes forever"
Kato
It is necessary for Japan to face the risks of South Korea and for South Korea to face the fact that Korea was helped by Japan.
What Japan has to be careful of is Korea's lie and deception.
Because the country and the state institution lie darkly.
When Korea came into a currency crisis in 1997, it was supposed to have $ 25 billion in foreign currency reserves.
According to Alan Greenspan's memoir, then Chairman of the FRB(Federal Reserve Board) who was an advisor to the IMF (International Monetary Fund), the FRB side calls an executive of the Bank of Korea, the central bank, "Why not Use foreign exchange reserves ", when asked, the answer "Because it is not left" came back.
The FRB is surprised.
At that time, regardless of any economic indicators concerning Korea, it was regarded as "solid" in number.
The Bank of Korea sells and lends out most of the foreign exchange reserves to domestic commercial banks, and also said that it used it for international settlement of public financial institutions.
It is to eliminate foreign debt and stabilize the international evaluation of the economy.
Normally, foreign currency reserve balances are somewhat transparent.
However, since all Korea has used it, it will be rebuilt unless there is nothing unprepared.
Greenspan knew for the first time that Korea is a ridiculous country, and in the world of international finance Korea's evaluation got stupid.
Despite the possibility of Japanese banks also being faced with a chain-of-crisis at the time, even though the Korean economy was considerably deteriorated, we were supporting it, but at that time the Korean Ministry of Foreign Affairs, the planning finance Active ministry officials and officials of the ministry (Ministry of Finance) said, "Since Japan has raised funds from South Korea to avoid risks, South Korea has fallen into the IMF control system, why will you do for me? " it is such awareness.
It is not the old story of 50 or 70 years ago, it is the most recent event.
To a country like advertise that did not look directly at the facts but conversely failed due to Japan that backed it to the end, whether a decent story can talk or not.
Kadota
When the next currency crisis comes, Japan must be careful not to follow the same rut. Even so, the economic collapse and the currency crisis that started now are likely to be much larger than before.
Kato
Since the economic scale of Korea has been huge enough to be comparable to the past, the size of the collapse and the crisis can be immeasurable.
Although it depends heavily on China in the foreign economy, there are also companies in Korea that are multinational,
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