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Default (Gukgabudo-ui Nal, 국가부도의 날)

Director – Choi Kook-Hee – 2018 – South Korea – Cert. 12 – 114m

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Drama fictionalises the economic crisis of mid to late 1990s South Korea and the role played by banking, government and speculators – teaser screening from the London Korean Film Festival (LKFF) 2019

The year is 1996. The news media are championing South Korea’s economy as it seemingly goes from strength to strength, never questioning whether financial institutions might in fact be pursuing practices which are sooner or later going to have disastrous economic results. Ms. Han Si-hyun (Kim Hye-su) who runs a fiscal policy unit at the Bank of Korea submits a devastating report to the Bank’s governor, explaining that she and her small department have procedures set in place to save the economy and protect ordinary Koreans from disaster.

The politicians have a very different agenda, however, specifically the smarmy Vice-Minister of Finance (Jo Woo-jin) who views financial collapse as a way to weaken the rights of the working class and restructure the economy in favour of large business interests. Although it’s not name checked, there are echoes here of Naomi Klein’s book The Shock Doctrine and the film based upon it.… Read the rest