Zero to the Greatest and Richest

Chapter 64

The acquisition of an investment holding and three banks, comprising a total of forty-eight branches, for a mere 170 million dollar was astonishingly cost-effective.

This phenomenon, however, was not without precedent, especially in light of the 1997-1999 Asian financial crisis. Distressed asset sales had become somewhat commonplace, with assets frequently trading hands for sums far below their pre-crisis or intrinsic values. The crisis had left numerous financial institutions grappling with severe liquidity issues, compelling them to divest assets in a bid to shore up capital or pare down debt.

The urgency was palpable; failing to rapidly alleviate their debt burdens could lead to interest rates ballooning, exacerbating their predicaments. Thus, offloading these assets, even at a loss, emerged as the quickest avenue to liquidity, essential for staving off bankruptcy.

"Using stock as payment? Sure, why not," Lee Jong-gi chimed in, a hint of pragmatism in his tone. "We bankers have lon