Yamada Miya walked in with a cell phone in her hand, stood behind Kishimoto Masayoshi, speaking normally: "The Japanese Embassy in Seoul, South Korea has a call. If the president needs it, they can provide you with necessary help and consular protection."

Masayoshi Kishimoto's first reaction was that he thought of a similar scene in Mark Twain's "Million Pounds" that appeared in his head.

He put his hands crossed on his chest, turned his back and said with a smile: "If I were just an ordinary Japanese, would they still be so attentive?"

"It is precisely because the president is not an ordinary Japanese citizen that he is given special care. Your safety not only concerns Japan's economy, but also the job issues of tens of thousands of people." Yamada Miku said bluntly.

"I am just a mortal, not as important as you said." Kishimoto Masayoshi smiled and said without changing his smile.

"President, you are so modest. The second thing is that the Korean KBS TV station wants to conduct an exclusive interview with you. Will you refuse this?" Yamada Miku said seriously.

"Now, I am the Japanese who is least popular among some Koreans. I won't accept their personal interviews!"

On the one hand, Masayoshi Kishimoto doesn't like being interviewed, but on the other hand, he is already sharpening his knife and robbing the pigs and sheep. Of course, he wants to attack the Korean economy and rob. The knife in his hand is hungry and thirsty. Once he lifts it up, he will definitely slaughter it.

"I understand." Yamada Miku fully understood the president's meaning.

"Do you use a credit card?" Kishimoto Masayoshi asked aimlessly.

Yamada Miku replied concisely: "Use."

"It means you are not only a minority, but also quite fashionable. Tell me about the benefits and disadvantages of credit cards?"

Masayoshi Kishimoto knew for a long time that the Japanese had a personal usage rate of credit cards only 7%, while the Koreans had a personal usage rate of credit cards at this time that had reached 69%.

The reason why it is like this is due to the encouragement of the South Korean government and the Bank of Korea. After the Asian financial crisis in 1997, the South Korean government introduced a series of policies to encourage the development of the credit card industry since 1999 in order to expand domestic demand and stimulate the economy.

For example, the upper limit of 700,000 won for advance cash loans is abolished; the limit that cash loans (advanced cash and credit card loans) shall not exceed 50% of the credit card accounts receivable;

The amount of credit card expenditure is allowed to exceed 10% of personal income, of which 10% can be used as income tax relief, with a maximum limit of 300 million won;

In 2001, the maximum amount of this reduction rate increased to 20% and 5 million won respectively; since 2000, each receipt with a credit card purchase amount of more than 10,000 won can participate in the redemption of the prize, with the highest amount of 100 million won in cash, etc.

For merchants, South Korea has also taken some measures to require them to accept credit card transactions. For example, merchants can participate in the redemption of prizes, with a maximum bonus of 20 million won; merchants can offset business value-added tax for 2% of the transaction volume, with a maximum amount of 5 million won;

It is stipulated that merchants with annual sales of more than 24 million won must accept credit card transactions, otherwise they will face imprisonment of less than one year or fines of less than 10 million won.

Credit card companies use policies to encourage the indiscriminate issuance of credit cards, develop large numbers of members to expand operations, and the market begins to experience improper competition, resulting in consumers using credit cards indiscriminately and excessive consumption, and long debts are serious; the industry has seen a "credit card craze".

Unlike Japan, Koreans do not use IC cards when taking subways and buses, but can use credit cards directly to swipe them.

Even students who are unstable or do not have any income can also get credit cards. Judging from the issuance of Korean credit cards alone, the average number of Koreans is 2.5.

In fact, except for children and particularly conservative people, every Korean has at least 4 or 5 credit cards.

In fact, the average number of credit cards for young people has reached seven or eight, and many people even have more than a dozen credit cards.

Why are banks keen on issuing credit cards? In fact, the reason is that the profit margin is very large. Do you think they don’t know if they will demolish the east wall, repair the west wall, and maintain the card?

They had long expected that many people would do this, and they were eager to do this. Interest, late fees, handling fees, etc., the annual interest rate for a year is at least ten percent, and generally 20 percent or 30 percent.

Of course, the bank will never say so directly.

It will make a comeback and say that the interest rate is as low as 5/10,000 per day. It will be roughly calculated casually and roughly 0.05% (5/10,000) * 365 days = 18.25%. In fact, this is a simple interest calculation.

Compound interest is not calculated in this way, it is also called profit-rolling and snowballing. The formula is f=p(1+i)^n. In addition, there is a more incomprehensible interest calculation formula, pv*(1+r/n)^n=fv.

Masayoshi Kishimoto still remembers it vividly when he was in college in his previous life. The first lesson of studying "Basics of Accounting" was about compound interest.

When a university lecturer talked about this, his biggest feeling was that compound interest calculation is one of the greatest inventions of mankind. In his opinion, he didn't know which bastard invented such a trick.

As for usury, the compound interest calculation is even more bastard. They used a concept called equal repayment of principal and interest.

They were deliberately distorted. Take a random example, borrow 24,000 yuan, and have a one-year monthly interest rate of 2% handling fee, 24,000/12+24,000*2%=2000+480=2480.

A total of 29,760 yuan over the whole year. The principal of 24,000 yuan was deducted, 5,760 yuan, and the annual interest was 24%. However, that's not what it is.

Their algorithm will be in the 0th month, and you will get 24,000 yuan and owed 24,000 yuan in principal.

In the first month, you paid back 2%, 2% of interest of 2,000 yuan + 24,000 yuan, and still owed 22,000 yuan in principal.

In the second month, you paid back 2%, 2% of interest of 2,000 yuan + 24,000 yuan, and still owed 20,000 yuan in principal.

In the third month, you paid back 2%, 2% of interest of 2,000 yuan + 24,000 yuan, and still owed 18,000 yuan in principal.

...In the 12th month, you paid 2% of the interest rate of 2,000 yuan + 24,000 yuan, and you still owe 2,000 yuan to be repaid within this month.

One problem is that 24,000 yuan is not paid in one year and is paid in one lump sum, but is in installments. Each period is calculated based on the interest of 24,000 yuan in principal.

Even if in the last 12 months, there is only 2,000 yuan in principal left, the interest rate of 480 yuan per month is still paid at 24,000 yuan.

To put it another way, if you borrow 2,000 yuan, you still have the interest of 24,000 yuan in principal, rather than the interest of 2,000 yuan.

The correct way to open it should be that you will pay 2% of the interest rate of 2,000 yuan + 24,000 yuan in the first month.

Starting from the second month, you should have to pay 2% interest of 2,000 yuan + 22,000 yuan.

Starting from the third month, you should have to pay 2% interest of 2,000 yuan + 20,000 yuan.

...Starting from the 12th month, you should be 2% at 2,000 yuan + 2,000 yuan.

In other words, your annual loan usage figure is not 24,000 yuan, but 13,000 yuan. (24,000 yuan + 22,000 yuan + 20,000 yuan...+2,000)/12=13,000 yuan.

It means paying 24,000 yuan for 13,000 yuan annual interest of 24%, 24%. The real interest loan cost is 5,760 yuan divided by 13,000 yuan, and the annual interest is 44.3%, instead of the so-called 24%, which is nearly twice the interest.

In actual operations, the monthly interest rate of 2% for usury is already a low level. This is not a complete waste of money like scams.
Chapter completed!