Nonton Default 2018

Gukgabudo-ui nal. Only one week left until South Korea will go under sovereign default. Han Shi-Hyun is a leader of the monetary policy team at the Bank of Korea. and is assigned to a crisis team.

A dramatization of the behind-the-scenes story of the IMF negotiations that took place during the financial crisis in 1997, through three parallel stories.

Si-hyun is the monetary policy manager at the Bank of Korea, predicts a massive national financial crisis and reports it to the Director. The Director doesn’t schedule an emergency summit until 10 days later and does it without notifying the public of the situation. Si-hyun urges for the crisis to be announced in order to warn people of the looming disaster, but her plea is ignored. The summit is held behind closed doors.

Jung-hak, a financial consultant, notices Korea is suddenly hemorrhaging foreign funds, and he learns the reason is that international finance firms have ordered an all-out investment withdrawal from the country, which has caused its credit rating to plummet. He hands in his resignation and decides to play the odds on what he’s sure is a coming crisis.

He secretly starts gathering investors willing to do the same. Gap-su, a family man who runs a small tableware factory, has a big break and wins a contract with a department store. The fact that the price settlement terms equal to little more than a promissory note concerns him only briefly, and oblivious to the looming financial upheaval, Gap-su signs the contract.

The Managing Director of the IMF comes to Korea just one week before the country goes bust, and that is when those who try to prevent the crisis, those who seek to take advantage of it, and those only trying to protect their livelihood are caught in the wake of a national bankruptcy.