Duc, sequere, aut de via decede!

Vietnamese farmers bilked by Korean businessman

June 27th, 2008 . by Matt

It doesn’t look like a lot of money, but the small amount of money and the fact that thousands will experience hardship because of it is testimony to how viciously they been taken advantage of.

Thousands of chili farmers in the central province of Quang Nam are on the verge of bankruptcy after the director of a South Korean company fled owing them VND1.6 billion (US$96,000).

South Korean Kim Hyong Gon, director of Thang Binh District-based Future Korea Vietnam Limited Company (Future Company), disappeared on June 15.

He didn’t tell his staff where he was going, Kim’s secretary Nguyen Huynh Son told Thanh Nien Friday.

“He kept all the company’s money. He even didn’t pay our salary for last month,” Son said.

“I have reported the case to the police.”

Future Company, established in 2006, was trying to develop a chili industry in Quang Nam Province.

Since 2006, it has offered chili seeds, technology and fertilizer to more than 1,000 farmers.

Although the company received the farmers’ harvest, it has not yet paid for the crops.

“The company still owes us about VND1 billion ($60,000) to pay the farmers for last season,” said Nguyen Duc Thanh, Chairman of a cooperative at Dien Ban District.

“But anyway, we were lucky to have stopped cooperating with them this season after they were late paying last time.”

In the 2007-2008 season, the company signed contracts with farmers to grow 80 hectares of chili in the districts of Dien Ban, Dai Loc, Duy Xuyen and Thang Binh.

However, it hasn’t paid farmers for the portion of the crop already delivered.

Some farmers are still keeping chili on their farms.

They can’t sell their crops because no one else wants Kim’s chili variety, which is milder than the variety usually grown in Vietnam.

See the rest of the article, including a picture of the perpetrator (they covered up his eyes, though, which the Korean media will not do for foreigners in Korea, although they do it for Koreans).

8 Responses to “Vietnamese farmers bilked by Korean businessman”

  1. comment number 1 by: bad_moon_rising

    Moral of the story, don’t work for Koreans. Make them work for you. The Vietnamese might want to try exporting directly to Korea instead of going through a middleman like Kim Hyong Gon.

  2. comment number 2 by: GarlicBreath

    The viet farmers should hire an assassin to off his family.

  3. comment number 3 by: HanComplex

    This is not the first time this has happened. In Vietnam, Philippines, China, and other Asian countries it’s not uncommon for Korean businessmen to bilk and fly by night when businesses go sour. Koreans must really enjoy establishing their reputation as the bastards of Asia. This must be the real “Korean Wave”.

    (they covered up his eyes, though, which the Korean media will not do for foreigners in Korea, although they do it for Koreans).

    Korean culture is one of the most backward, underdeveloped cultures in the world and how they treat non-Koreans is just one example of their primitiveness. They suffer from a collective inferiority complex which fuels their ultranationalism, and they continue to fantasize of being supposedly superior to other races (especially Japanese). Funny, the lot of them end up fleeing their homeland like rats flee a sinking ship to go to first world countries like the US, Australia, Japan, etc.

  4. comment number 4 by: Errol

    When is the Korean Sgt Bilko movie being released?

    Meanwhile back at Joongang Central the English editors flatter Matt with this headline.

    Koreans bilked in China stock deal.

    Who did the bilking and who was bilked?

  5. comment number 5 by: Errol

    When is the Korean Sgt Bilko being released?


    He never went to jail. He was given a suspended sentence and 40 hours of community service.

  6. comment number 6 by: alec931

    Hey Matt!
    I found a nice article that describes you perfectly…
    They even have a pic of you too! (the first picture)



    “Tokyo Nightlife” how cute 😉

  7. comment number 7 by: Matt

    Haha alec931, not exactly on topic, and I wish you had something to say about Vietnamese farmers.

    Anyway, if that is the image you have of me, fair enough, but it seems to me that the “wapanese” you link are the kind of people that cleave to stereotypes about Japanese people and lack cultural and language knowledge. I think I have a fair bit of cultural knowledge (I worked in Japan, in a Japanese company, with no other foreigners, dealing with Japanese people using Japanese only), and I am also fluent in Japanese. For that matter, I am pretty good at Korean as well, certainly better than a most kyopo.

    Anyway, the “wapanese” thing more fairly applies to non-Japanese Asians who are categorically more interested in the otaku things listed in that article than are white people. Perhaps the white people like that stand out because they are just so rare.

  8. comment number 8 by: bad_moon_rising

    Evidently 7 in 10 foreign investors in Korea also know that you can’t do business with Koreans.

    7 in 10 Foreign Investors Seek to Exit Korea

    The Korea Chamber of Commerce and Industry (KCCI), a local business lobby, asked 845 foreign firms about their investment plans for the second half of this year, and only three out of 10 said they were willing to put money in Korea. The rest said they had decided to opt out for alternative destinations such as Singapore and Hong Kong.

    Deregulation and tax breaks were the most urgently demanded measures, as polls showed that Korea was ranked the lowest in terms of incentives, administrative procedures, and transparent and consistent policies.

    According to the poll, Seoul got 2.89 points in the overall evaluation, while Singapore got the highest of 3.60 points, followed by Hong Kong (3.51), the U.S. (3.46) and Japan (3.25).

    The Organization for Economic Cooperation and Development (OECD) said last week that South Korea’s foreign direct investment (FDI) ranking nose-dived to 28th in 2007 down from 16th in 2004.