Chapter 117
Chapter 117
Taek-gyu patted my shoulder and said.
“Hey, calm down.”
Suddenly, the hologram in front of me disappeared.
Vice Chairman Im Jin-yong looked at my expression and asked.
“Are you okay?”
“Oh, I was thinking about something else for a second.”
Taek-gyu would have noticed what was going on, but he said in a tone that it wasn’t a big deal.
“He was talking to himself, and then he fell into his own thoughts.”
I thought I saw you for a while, but in the eyes of others, it seems like I’ve been blank for a while.
Anyway, I came to my senses and asked Vice Chairman Im Jin-yong.
“What did you just say?”
“We talked about cooperation.”
I said, remembering Yeji.
“Are you talking about battery supply?”
Vice Chairman Im Jin-yong nodded his head.
“I’m talking about the entire automotive business, not just batteries. Currently, Suseong Electronics is preparing for mass production of AP Exarus Auto for vehicles.”
Taehyung made a surprised expression.
“Oh, really? Did you not use the original mobile AP Exarus with a modified version?”
“There are differences between smartphones and cars in terms of operating conditions, maintenance period, and safety.”
“I heard a lot of people say that the performance of this Exalus 8 is better than that of Dragoon 5.4.”
He’s not that quick again.
AP (Application Processor) is a human brain and is an indispensable core component for electronic devices such as smartphones.
Recently, various electronic devices are installed in automobiles, and the role of the AP to control them has become important. In particular, in order to realize autonomous driving, the existence of a high-performance AP is essential.
Only a few companies, such as Nplay, Qualcomm, and Suseong Electronics, have the ability to design APs themselves.
I thought soberly.
In order to use the operating system properly, hardware performance must be supported. Various advanced electronic components such as various cameras, sensors, and communication are required here.
Seosung Electronics is the world’s largest IT manufacturer.
Semiconductor technology is unparalleled, and other parts have already shown technological prowess completed through smartphones.
In a word, if you join hands with Suseong Group, you can cooperate in all areas including AP, electronic equipment, and batteries.
You can find other companies besides Seoseong SB for batteries. However, in the electronics field, it is difficult to find a partner more than Suseong Electronics.
Right now, NPL alone is purchasing billions of dollars worth of parts every year for Suseong Jeon Electronics.
“Come to think of it, there’s Herman too.”
At my words, Vice Chairman Im Jin-yong said as he touched his glasses.
“In the past, Seoseong Group and Eunsung Group were competitors who were fighting for the top spot in the business world.”
When Eunsung Group made Eunsung Electronics and entered the electronics industry, Seosung Group also made Seosung cars and entered the automobile industry, intensifying the confrontation between the two chaebol groups.
However, Eunsung Group’s affiliates were split due to the turmoil of the throne, and Eunsung Electronics went bankrupt and sold to creditors. Suseong Group also experienced difficulties during the IMF financial crisis, but sold most of its stake in Suseong Motors and quit the auto industry.
Since then, they have maintained a close relationship, but in recent years, there has been a slight dissonance.
There is a reason why Chairman Lim Il-kwon, who was close with Chairman Han Min-koo, resigned from management… … .
“The decisive moment was the acquisition of Herman by Suseong Electronics.”
Herman is a leader in the field of automotive electronic equipment, including car audio, and has relationships with leading automakers.
Seosung Electronics invested $8 billion at the end of last year to acquire Herman entirely.
When this fact became known, Chairman Han Min-koo said he was shocked. This is because Herman was a partner of its competitors from the perspective of Eunsung Motors.
“Ah! Maybe that’s why Eunsung Cha was trying to take over X-Cop?”
I nodded my head at Taehyung’s question.
“right.”
Originally, Eunsung Car Group had entrusted security and security to DS, a subsidiary of Seosung Group. However, because of that incident, he cut off the deal with DS and tried to develop his own security company by acquiring Xcop.
Unfortunately, it was stolen by a difference of only $100,000 right in front of my eyes.
As much as I made a mistake once, I will definitely try to get it this time. From what I’ve heard, it seems like they’ve been preparing for quite a while.
Taek-gyu asked Vice Chairman Im Jin-yong.
“But why not buy it yourself? You have a lot of money.”
According to reports, Vice Chairman Im Jin-yong’s fortune was about 16 trillion won, making him the second richest person in Korea after his father, Lim Il-kwon (although he was pushed to third place due to some poor man).
“That would be great, but I don’t have much money to spend right now.
The chaebols have a lot of wealth.
But that doesn’t mean he has a lot of cash. (That’s why he uses all sorts of illegal means to extort company money to create slush funds). Most of his fortune is in the stocks of Suseong Group affiliates to maintain management rights.
Although Seosung Electronics has an internal reserve of 70 trillion won, if this money is used for private purposes to fight for management rights between the brothers, neither the shareholders nor the government (the largest shareholder of Seosung Electronics is the National Pension Service) will not stand still.
“Didn’t you inherit any slush funds? I read an article earlier that Chairman Lim Il-kwon had 1,300 borrowed-name accounts.”
Vice Chairman Im Jin-yong smiled bitterly at Taek-gyu’s question.
“It’s something I don’t know.”
The slush funds are probably in the trillions, but the source of the funds will be an issue, so it will be difficult to mobilize them for this kind of work.
This time I asked.
“Have you ever restricted the exchange of treasury stock to other group companies?”
“There is not. There is no guarantee that you will not betray.”
In front of money, there are no parents, no brothers, no friends. There are only gains and losses. Behind President Im Seung-yong is the Eunsung Cha Group, and behind him is President Park Si-hyeong and the ruling party again.
If the three leans even a little, they will switch to the winning side at any time.
“But why do you believe me?”
He simply answered my question.
“Aren’t you on a bad relationship with Eun Sung Cha?”
Taehyung nodded his head.
“That’s right.”
Even if I would rather sit by the sidelines, I wouldn’t go hand in hand with Eun Seong-cha.
I did the math again.
If you combine the shares of Director Yeon Yeon-hyeon, President Lim Seung-yong, and the National Pension Service, the figure is 26.6 percent. On the other hand, the combined share of Vice Chairman Im Jin-yong, Seosung Electronics and Seosung SB is 23%.
And here… …
“How much does Golden Gate have?”
Vice Chairman Im Jin-yong answered right away whether he had that in mind.
“It’s 1.8 percent.”
How about 40 billion?
It’s not as big as I thought.
Vice Chairman Im Jin-yong looked at me and asked.
“When will I get an answer?”
The thought didn’t last long.
In fact, from the moment I saw Yeji, the answer seemed to have been decided.
It really is a skill that is nothing short of a scam. Just getting a little hint about the future can set the direction for the future.
i told him
“I will be happy to help, sir.”
At that time, Vice Chairman Im Jin-yong smiled with satisfaction.
“Fortunately, the. You have to be as stealthy as possible.”
If it becomes known that I will join hands with Suseong Group to purchase stocks, Eunsung Motors and the government will not stand still.
Of course, they will also start buying there, and then the sale will disappear and the stock price will skyrocket.
I can see why you’ve been avoiding people’s eyes.
“I wish you well. junior.”
* * *
After leaving the Stamper Hotel, Im Jin-yong got into the prepared car. A man in his mid 60s was sitting inside.
He was Kim Myung-soo, the head of the Future Strategy Office, the core organization of the Seoseong Group.
“How about meeting you in person?”
Im Jin-yong shook his head slightly at his question.
“I do not know. I don’t know yet.
In the business world, opinions on Kang Jin-hoo were mixed.
Some praised him as a great investor, while others dismissed him as a financial speculator who made a fortune.
The latter was probably much more.
The chaebols that grew along with the Korean economy built their own castles over several generations. And in it, they lived in the illusion that they were different beings.
He once thought so too. However, the IT industry has a faster rate of success and decline than the retail or manufacturing industry.
I have seen top-tier companies such as Nokia and Sony go down, and I have also seen start-ups such as Gubble, AMZ, Facenote, and Aligenie grow into global companies in less than a generation.
Silicon Valley is overflowing with startups and young entrepreneurs. Many of them had created a wealth greater than that of which they had inherited.
In comparison, the Korean business world was nothing short of a dead person. Because of this, everyone was wary of the existence of Kang Jin-hoo who suddenly appeared.
“Looking at your face, it looks like things are going well.”
“That’s right.”
“It is still too early to be reassured. Even if CEO Kang Jin-hoo buys as much stock as possible, he can secure more friendly shares from the other side.”
Jinyong Lim said with a sigh.
“Whether it’s my mother or Seungyong, I wish they would stop right now.”
Director Kim Myung-soo shook his head.
“Money and power are like drugs. The president has already been through it all.”
He had served his Im Il-gwon for a long time, and was well aware of what had happened before he took over the position of group president.
Unlike his eldest son, Im Jin-yong, Im Il-gwon was the third son. When he was designated as the group’s heir, he faced strong opposition from his older brothers. Im Il-kwon used all means and methods to cut down his brothers who were trying to take his place like a sword.
His blood didn’t splatter, but it was nothing more than a goblet of bone.
“Heavy industry and engineering. I thought two would be enough.”
He might have been able to negotiate if he had preferred securities or cards. However, Seoseong SB is closely related to electronics, and batteries are a key industry in the future.
Everything that runs on electricity, such as smartphones, tablets, laptops, drones, and electric vehicles, uses batteries. Therefore, no matter what happened, he could not hand over the management rights.
“If you give one, you want two. You have to be strong.”
Jinyong Lim nodded his head.
“I know.”
He can’t build a kingdom on his own, but if he can’t even defend the throne he inherited, he won’t have the right to sit there.
* * *
After Vice Chairman Im Jin-yong left.
Taehyung asked me quickly.
“What did you see?”
i just said it
“Caros has a SB battery installed.”
“okay? After a while, the foreknowledge appeared.”
For that to happen, we must not let Seoseong SB fall over to Eunsung car.
“By the way, can I join hands with the chaebol?”
“What can’t be done?”(Read more @ wuxiax.com)
“You hate chaebols.”
“Huh? I?”
It’s not that I hate it at all.
In fact, the most important reason why the chaebol system can be maintained is that it has its own rationality of owner-centered responsible management. Otherwise, it would have been ruined sooner.
Unlike contract CEOs who focus on short-term performance while watching shareholders, chaebols can manage their business with a long-term outlook.
If Lim Young-cheol and Lim Il-kwon were not from the family, would they have been able to invest in semiconductors despite the opposition of shareholders?
“It’s not like I’m going to break up the chaebol or reform the economic system.”
It is not capable of doing so, and even without it, the Korean economy is doing well.
“Do you know what the chaebol group’s problem is?”
“It’s not just one or two, what should I say first?”
“… … .”
Well, it’s not.
I gave a fixed answer.
“You’re trying to eat it all by yourself.”
Eunsung Cha, which originally split from the Eunsung Group, became a huge group again. First, Eunseong makes a finished car. Glomas transports them, and Renocean does advertising and marketing.
Eunsung Steel manufactures and supplies steel and iron plates directly, while Eunsung MD is in charge of parts development, manufacturing, and operation of the service center.
It does everything from boiling iron in a furnace to distribution, sales, and after-sales service.
Although parts are delivered from the 1st, 2nd, and 3rd vendors, it’s a ‘subcontract’, not a ‘cooperation’.
If Eunsung Motors had offered to cooperate, Seosung SB would have been willing to accept it. However, Chairman Han Min-koo chose the takeover method.
This may have worked in the past, but it is different now. The world has changed, and even a chaebol group cannot do everything alone.
Eunsung Motor plans to enter the electric vehicle market in earnest by acquiring Seosung SB. But what if the acquisition fails?
“Can’t we find another company?”
“There are only a few companies in the world that have the technology and productivity of Seoseong SB. And if the equipment is idle, it is difficult for the battery to suddenly increase production.”
Eventually, various business plans will come to a halt.
I first called Sangyeop senior.
[I enjoyed the inauguration ceremony. Your face appeared on the screen too.]“I had one more thing to do.”
[What?]“Buy Seosung SB stock right now. Keep it quiet as much as possible. Ah! Please use a foreign brokerage company other than the Golden Gate account.”
Everyone is well aware of the relationship between OTK Company and Golden Gate. Therefore, if you order through Golden Gate, you may notice our identity.
[What’s going on?]“I’ll go back and tell you why.”
[Okay.]Senior Sangyeop hung up the phone without asking any more.
