Chapter 118
Chapter 118
next day.
We boarded the plane and went back to Korea. When I went to the arrival hall to find my luggage, the bodyguards sent by Manager Lee Cheol-jin were waiting.
“You worked hard to come.”
Taek-gyu looked around his arrival hall and said.
“When you meet the president of the United States, don’t you usually come here to do something like an interview?”
“You didn’t know you were going home today.”
The fact that we met Ronald was already known through CNN. However, in Korea, strangely, there was not much interest.
Anyone who sees it would know that the media outlets intentionally do not publish articles under the pressure of the government.
Well, from my point of view, thank you.
We exited the arrival hall with the security guards. Outside, the S-Class Maybach was waiting.
“uh! This is my sister-in-law.”
Did Hyunjoo noona send the article?
As she got into her car, the beauty in her driver’s seat turned her head, she said.
“How was your trip?”
I was surprised to see her.
“What is Ellie doing here?”
“I came to meet you.”
“Did your sister send you?”
Ellie frowned in one of her eyes.
“no. Jessica sneaked out.”
“… … .”
is that okay?
I moved from the back seat to the passenger seat and fastened my seat belt.
Ellie started her car. Even though the driver’s seat is the opposite of that of Hong Kong, it’s a completely familiar look.
It was refreshing to see him driving.
“Have you met Ronald?”
“Yes. For a moment.”
“How do you feel about meeting the president of the United States in person?”
I was a candidate last time we met, so this is the first time I’ve ever met a real US president.
“I do not know. It’s a little strange.”
“CNN says he’s going to be the worst president ever.”
“You will know when you watch it.”
Yezi only informed him that Ronald would become president. I don’t know what will happen after that.
Usually, in the early days of government, they strongly push policies based on their high approval ratings. But even before Ronald took office, his approval rating plummeted to 30 percent. This meant that even those who voted turned away.
The bigger problem is that both the House and the Senate are controlled by Democrats. As it is the situation of the women’s college, it is expected that there will be difficulties in the future operation of the government.
If he can’t get Congress to cooperate, his various promises will be in vain. Because of this, rumors of anxiety were already flowing from here and there.
“Is your sister at work?”
“of course.”
“I have to ask everyone to gather at the branch manager’s office.”
At my words, Ellie’s eyes lit up.
“What’s going on? Is it fun?”
“I’ll come and talk to you.”
* * *
When I went up to the branch manager’s office, as I said before, Hyun-joo’s older sister, Sang-yeop senior, and Henry were gathered together.
Hyeon-ju’s older sister stopped what she was doing and looked at Ellie.
“When did you pull out my car?”
Ellie quickly hid behind me and made excuses.
“I told you before, you can use it when you need it.”
Hyun-joo’s older sister sat on her sofa and asked her for a cigarette.
“The lighter… … .”
Henry quickly took a lighter from his pocket and lit it.
“Here it is.”
“Thank you.”
Senior Sangyeop asked.
“Have you met Ronald?”
“Yes.”
“What’s going on, did you say Moe?”
As soon as I sat down, I started talking.
“After the inauguration ceremony, Vice Chairman Im Jin-yong came to visit.”
Everyone was surprised by my words.
“The Vice President of Seoseong Group? why?”
“He asked me to help.”
I summarized his proposal and told him.
Sangyeop senior nodded his head.
“That’s why you told me to buy Seosung SB stock.”
Hyunjoo’s older sister smoked a cigarette and said.
“If you want to invest in the battery business, there must be many other ways.”
“I plan to cooperate not only with the battery business, but also throughout the electronics business. what do you think?”
After thinking for a moment, Hyun-joo nodded her head.
“It’s a good idea. Because Karos has the software, and Seosung Electronics has the hardware technology. It wouldn’t be easy to find such a good partner. But is it just for cooperation?”
The most important reason is… … .
“We can’t let Seoseong SB become Eunsung SB.”
With Seosung SB, Eunsung Motors will spur the development and mass production of electric vehicles in earnest. But if you fail, you will lose that much time.
“How much does Golden Gate have?”
“wait. I’ll look for some data.”
Hyun-joo’s older sister sat at her desk and tapped her computer.
“1.8 percent. 2.2% including those owned by the consolidated corporation.”
If Golden Gate is on our side, even if it buys only 1.5 percent, it will secure more shares than the other party.
“How many shares are outstanding?”
“It’s probably 20 percent at most.”
Director Yeon Yeon-hyeon, President Im Seung-yong, and the National Pension Service own 26.6 percent. Seosung Electronics, treasury stock, and Golden Gate own a 25.2 percent stake.
This alone is over 50%. The rest are held by institutions, foreigners, and minority shareholders. The double distribution will be less than half.
Even if you try to buy half of them again, the stock price will hit the upper limit every day.
said Ellie.
“It would be impossible for either party to secure a majority.”
Hyunjoo’s older sister nodded her head.
“Who gets more shareholders’ votes will be the key.”
“Who is more advantageous, Im Jin-yong or Im Seung-yong?”
“Well. If you only think about the small battery field, Jinyong Im would be better. Because Seosung SB relies on Seosung Electronics for most of its sales. But if you think about large batteries for electric vehicles, Lim Seung-yong has an advantage. Just because Im Seung-yong becomes Im Seung-yong doesn’t mean that the former relationship is broken.”
Sangyeop senior also said.
“If Im Seung-yong comes out with a cooperation card with Eunsung Motors, the government just pushes it out. There is no reason for the National Pension Service not to agree that two large companies are working together to develop future cars.”
The fact that Seosung SB signed an exclusive battery supply contract with Eunsung Motors is a factor in the share price rise. Naturally, shareholders will welcome it with open arms.
However, I don’t know if that will really benefit Seoseong SB.
I remembered the words of Vice Chairman Im Jin-yong. Did I say you can’t trust anyone in front of money?
How much does Eun Seong-cha really trust Lim Seung-yong?
If the stakes of Director Yeon-Hyun Yeon and President Seung-Yong Lim are combined, it is 10.5 percent. If they receive treasury stock, Eunsung will own 6.3 percent, and if the National Pension Service purchases the stake to be sold, it will be able to secure about 15 percent.
“Even if I entrust it to Im Seung-yong right now, wouldn’t it be possible to take over the management right after that?”
Eli heard me and said.
“It could be. After you’ve killed the rabbit, you won’t need a hunting dog.”
She said Hyun-joo’s sister exhaled cigarette smoke.
“Do you have any specific plans?”
I nodded.
“I have something to think about.”
“You know, if you buy more than 5 percent of a stake in a specific company, you have to disclose it. First, buy on the market as quietly as possible and increase your stake. If they announce the sale of their treasury stock, they will not stand still. If you’re going to cooperate, you’d better hold at least 10 percent.
“Yes.”
I said looking at Henry.
“I’ll leave that to Henry.”
I will take this opportunity to take a look at the successor’s skills of Golden Gate.
Henry nodded confidently.
“I will spread my accounts and buy from several brokerages. You won’t notice it until you get over 5% of the stake.”
* * *
I spoke to Daryl and explained the current situation and future plans.
[Cooperating with Seoseong Group is a good thing. But I’m worried about whether I’m investing too much. If things don’t go as planned, everything may collapse.]“I will.”
Demand forecasting is of paramount importance in manufacturing management. This is because if you catch too little, even after receiving an order, you will not be able to supply the quantity on time, and if you catch too much, only the facilities and personnel will be teased.
I invested in acquisitions and plant construction in anticipation of growing demand. However, if demand does not meet expectations, it will sell well and incur huge losses.
Is it right to invest in batteries as well in a situation where we have not been able to fix what we have opened up so far?
I remembered Yeji.
Yeji only said that Karos only had SB batteries, but didn’t say how much it would sell.
But the die has already been cast.
“Don’t worry about that, just focus on development for now. Internal combustion locomotives may be profitable right now, but eventually, we will have to go electric.”
It makes no sense to follow after everyone has gone.
We need to move faster than anyone else and differently from others.
* * *
Chairman Lim Il-kwon has been hospitalized in the VIP room on the 25th floor of Seoul Seoseong Hospital in Songpa-gu since he collapsed.
The VIP room was inaccessible to anyone except his medical staff and family.
Reporters visited several times and tried to interview the medical staff, but no one spoke, saying the patient’s personal information was top secret.
After not appearing for a long time, several rumors circulated about the health condition of Chairman Im Il-kwon.(Read more @ wuxiax.com)
To promote Im Jin-yong as his successor, he pretends to be sick, has dementia, is in a coma, is already dead, etc.
However, the Seoseong Group did not make any announcements, and everything remained only in the realm of speculation.
However, recently, rumors began to flow again that Chairman Il-kwon Lim was in critical condition.
I thought it was a rumor this time too, but the situation was not serious. Ceylon Hotel President Im Soo-mi and Neverland President Lim Su-kyung went to the hospital rather than the company for a few days, while Director Yeon So-hyeon and President Lim Seung-yong stayed in the hospital room.
Vice Chairman Im Jin-yong was originally scheduled to meet with businessmen in the United States, but he only attended the Ronald inauguration ceremony and returned home in a hurry.
And a few days later, the shocking breaking news appeared.
[Chairman Il-kwon Lim is dead!][The whole business world is in shock][What is the future of Seoseong Group?][President Park Si-hyeong revealed his sad heart that the star in Korean economic history has been lost… … ]The life of Chairman Il-Kwon Lim was the history of Suseong Group and the history of Korea’s industrialization.
As with all chaebol groups, he grew up through political and economic collusion and committed various illegalities. Tax evasion, embezzlement, breach of trust, slush funds, expedient succession, etc.
For that he received a prison sentence (3 years in prison and 5 years probation), but was soon pardoned.
Despite all these controversies, no one would deny that he made a huge contribution to the Korean economy.
So his death was a big shock.
Seosung Group stocks, including Seosung Electronics, account for nearly 30 percent of the exchange. When Seoseong Group stocks were shocked, the KOSPI index plunged 1 percent in an instant.
Seoseong Group hastily issued an official position. We mourned the death of Chairman Im Il-kwon, and announced that we would manage stable management under the Im Jin-yong system.
In hindsight, the death of Im Il-kwon has no effect on the fundamentals. As a result, the decline quickly recovered.
The business world was in a gloomy mood. Some even canceled scheduled events to express their condolences.
On the other hand, we were busy.
Several positions, including the group chairmanship as well as CEO Suh Sung SB, became vacant. As soon as the funeral is over and the situation is settled, each affiliate will begin appointing a CEO.
Then the real fight will begin.
I spoke to Vice Chairman Im Jin-yong. First, condolences.
“You will be very heartbroken. Rest in peace.”
[Thank you.]Personally, I respect “businessman” Il-gwon Lim. I thought that we would like to meet and talk once, but now it has become impossible.
“If you announce the sale of treasury stocks, the media and the government will not stand still.”
Vice Chairman Im Jin-yong agreed with me.
[Probably the Chojung Ilbo will open its doors first.]Previously, the Chojung Ilbo was completely on the side of the Seoseong Group. Even when other media pointed out the problem of Im Jin-yong’s expedient succession, only the Chojung Ilbo was silent.
However, this time will be different as Director Yeonho Yeon is on the other side.
“No matter how much stake we have, if the minority shareholders turn around, we will lose the vote.”
[We plan to announce the shareholder return policy and strengthen cooperation with the former.]“But that alone will not be enough. President Im Seung-yong will tell you the same thing.”
[Yes.]“I’ve been thinking a little… … .”
