Before I start S1 can someone explain what's this about "change of the FL" Is season 1 a complete story, as in if I choose not to watch season 2 I won't be losing anything?
I did some research on the '97 crisis, if anyone is interested, I recommend reading this after ep3 although there's no spoilers whatsoever. It'll help explain some moves by the protagonist, like exchanging won to dollars.
The cause for the financial crisis of 1997 was government forcing Won and Dollar to keep parity. So if USD would appreciate against Euro for example, the Won would as well. The problem with this is that the first one would appreciate due to fundamental reasons, while the Won was just following after it because the government said so.
Because foreign credit was widely available, South Korea's companies would lend money from overseas with the Won still at parity with USD. At '97, signs that something was wrong started to pop up, with rapidly decreasing exports and increasing imports, indicating that the Won was overvalued. A strong selling pressure resulted in up to 95% devaluation of Won against USD. Quick example: if I loan 1 million USD and Won is 1:1, it means I'll pay 1 million Won + interest. If in the example a new exchange rate changes to 1:2, the company would need to pay back 2 million Won instead. That's how lots of companies were broke, with debt multiplying very quickly. This generated inflation, unemployment, lots of companies going bankrupt, all of it because of bad government decisions.
The IMF lent money to South Korea's government, which they used to pay foreign lenders. What you need to understand here is that because the government took a loan from IMF, the ones that would have to pay for this are the citizens, through tax. So, in the middle of the recession, innocent citizens had to pay even higher tax because of government debt.
Two things to notice: - chaebols offering money to politicians and getting benefits like cheaper loans was a thing, just like it shows on the drama. - portraying the company owner's for not wanting to hire the old workers of a bankrupt company as bad isn't necessarily correct, since the ones that caused all the mess were politicians. It works for the drama ofc, but it's good to know where the blame lies in the first place.
Is there much injustice? Specially if the style is to end episodes with some unexpected twist that will make you feel bad until you can watch the next episode... Basically I'm asking if this is more Vincenzo style where you feel good watching it or like some other dramas where you spend more time feeling bad because people are buying off judges and witnesses and it's just unfair.
So, did Scarlet and Ga Kyung had a thing or what? The way they looked at each other certainly seemed so. (back at ep 2 or 3, I still haven`t watched the whole thing yet, I'm curious.)
Is season 1 a complete story, as in if I choose not to watch season 2 I won't be losing anything?
It'll help explain some moves by the protagonist, like exchanging won to dollars.
The cause for the financial crisis of 1997 was government forcing Won and Dollar to keep parity.
So if USD would appreciate against Euro for example, the Won would as well.
The problem with this is that the first one would appreciate due to fundamental reasons, while the Won was just following after it because the government said so.
Because foreign credit was widely available, South Korea's companies would lend money from overseas with the Won still at parity with USD.
At '97, signs that something was wrong started to pop up, with rapidly decreasing exports and increasing imports, indicating that the Won was overvalued.
A strong selling pressure resulted in up to 95% devaluation of Won against USD.
Quick example: if I loan 1 million USD and Won is 1:1, it means I'll pay 1 million Won + interest. If in the example a new exchange rate changes to 1:2, the company would need to pay back 2 million Won instead.
That's how lots of companies were broke, with debt multiplying very quickly.
This generated inflation, unemployment, lots of companies going bankrupt, all of it because of bad government decisions.
The IMF lent money to South Korea's government, which they used to pay foreign lenders. What you need to understand here is that because the government took a loan from IMF, the ones that would have to pay for this are the citizens, through tax. So, in the middle of the recession, innocent citizens had to pay even higher tax because of government debt.
Two things to notice:
- chaebols offering money to politicians and getting benefits like cheaper loans was a thing, just like it shows on the drama.
- portraying the company owner's for not wanting to hire the old workers of a bankrupt company as bad isn't necessarily correct, since the ones that caused all the mess were politicians. It works for the drama ofc, but it's good to know where the blame lies in the first place.