Chapter 212
Chapter 212
Lunch hour.
I ate Jajangmyeon in the CEO’s office with Taek-gyu and Sang-yeop senior.
In the news, the news of the Eunsung car recall has flowed.
Although Eunsung Motors voluntarily announced the recall, the U.S. Department of Justice continued to investigate defects and concealment.
The primary responsibility for airbag defects lies with the PAS that manufactured the product.
The fine has not yet been finalized, but it is expected to be at least several hundred million dollars. In addition, the lawsuit for damages between consumers and victims’ families has not yet begun.
Airbag delivery was stopped, all PAS factories were shut down, and sales plummeted.
In Mexico, where the PAS plant is located, the government froze the properties of the PAS Mexico corporation based on US investigation data. China and other countries said they plan to take similar measures.
The Korean government has yet to take any action, but the bankruptcy of PAS is definitive.
Although the true owner was revealed through the testimony of executives, Park Si-hyeong denied it to the end, and CEO Park Si-han kept his mouth shut and avoided the press.
The Liberal People’s Party, which should help Park Si-hyung, has been caught up in infighting over the theory of responsibility for losing the presidential election.
The pro-Park group attacked Lee Jeong-hye and the non-Park group at once, and the non-Park group counterattacked, arguing that they were defeated because of the president and the pro-Park group.
Opposition lawmakers pressured the government to conduct a special prosecutor, but Park Si-hyung pretended not to hear and did not respond at all. This is because he was the subject of the special prosecutor’s investigation.
Apart from the special prosecutor, the prosecution started its own investigation.
Just as Park Si-hyung has only thought of himself, the prosecution only cares about the safety of the prosecution. The government will change soon, so I think it’s good to have a good look ahead of time. Illegal comments, control demonstration instructions, and PAS beneficial ownership issues were investigated diligently. However, the public reaction was cold as it was behind the scenes for the various illegal acts committed by the prosecution.
An incumbent president cannot be forcibly recruited unless it is a felony such as a civil war or bribery. Therefore, the investigation was centered on close aides and related persons.
Park Si-hyung made every effort to crack down on his joining, but to no avail. Several people’s testimonies have already come out, and even aides who appeared in the prosecutor’s office after receiving a new request immediately turned their backs.
The key now is whether or not to be arrested after retirement.
Arresting a former president is not an easy task, but the evidence so far is overwhelming.
Polls showed that 70 percent supported the arrest investigation.
Taegyu said.
“Why are you touching someone who is still?”
I have the same idea. If it hadn’t been entangled with us, wouldn’t it have been safe to retire?
When I stopped using my chopsticks, Taek-gyu asked.
“What is it?”
“just. I thought about what it would be like to be in the top position and become a body of English.”
“No worries. You’ve done so many things in the meantime, so you’ll be able to spend a happy old age in prison.”
I agree on that point.
Even if your body is locked in a small cell, you will smile occasionally at the thought of the money you stole into your overseas account.
Sangyeop senior said.
“I just got a call from the president of CL Chemical. I wish we could make a place together.”
“You don’t like that company very much.”
When Sangyeop was in school, he went into debt with a loan company after making the wrong call option for CL Chem.
“It’s all in the past. Business is business. There seems to be great interest in the next-generation battery made by Professor Ho-Min Kim.”
I laughed bitterly.
“It has to be successful.”
Where are one or two products that fail in the commercialization stage?
Fortunately, Professor Homin Kim showed strong confidence in problem solving. He seems to have found a clue.
Contrary to the overwhelmingly large proportion of electronics in Seoseong Group, chemicals in CL Group have the largest share among affiliates.
CL Chem is ranked first in Korea and also in the world in the field of large-sized batteries for automobiles. Future growth potential is also promising.
It would be natural to pay attention at the group level.
Then Taek-gyu said as if he had remembered something.
“Ah! I also got a call from that woman.”
“Who is that woman?”
“The daughter of the president of CL Chem.”
We were surprised by that.
“Was it one sheep? what brings you here?”
Taehyung said as if nothing happened.
“I want a cup of coffee to apologize.”
“What?”
Did you mean that you had something to blush her face and asked to call first?
In fact, even if Taekkyu looks like an ordinary otaku… … No, he’s actually an otaku, but anyway, he’s the second person with a 17% stake in OTK Company.
“so?”
“You said you hate coffee.”
In fact, Taek-gyu doesn’t drink coffee.
“So what?”
“Then I said I’d think about it because I asked him to eat.”
She is very active on the female side.
“See you once.”
“Hate.”
“Why?”
Taek-gyu wiggled his fingers.
“Not my type.”
I remembered both sides. Among the people in the hall that day, he had an appearance that could be counted on his hand.
“Isn’t that pretty enough?”
“I don’t know.”
“… … .”
I hope this bastard doesn’t have ridiculously high eyes, right?
Senior Sangyeop asked.
“By the way, the day after tomorrow is Christmas. What are you going to do? Date?”
“Like last year, we are all going to get together and have a party. Can’t you come?”
“What do you mean? I went last year, and I want to go again this year.”
“Aren’t you dating?”
“What is a date? I don’t even have a woman to date.”
“Who’s the fashion model you came with that day?”
To my question, Sangyeop said coolly.
“We broke up that day.”
“… … .”
it’s so cool
Well, it didn’t seem like we were meeting very seriously. Still, this senior is going to be so windy.
Won’t she show up soon with a new lover?
* * *
Her mother came home the day before and slept. And she got up early and prepared food with her aunts.
As soon as she was ready, she sent all the workers back home. She wants to be able to spend Christmas with her family.
Her mother handed each of her aunts cakes and envelopes.
She said, “Everyone worked hard to take care of Jinhoo for a year. Have a great time with her family.”
“Thank you, madam.”
I hadn’t even thought of taking care of this.
After her aunts were gone, my mother did the finishing touches on her own.
“You can’t do it yourself.”
“For those who suffered with you, you have to treat them yourself.”
Various foods were laid out on the table.
“Do you have any cakes for us?”
“I contacted Su-mi a while ago, and she said that she would send me a hotel cake.”
“Ok?”
President Su-mi Lim will take care of such things.
We turned on the fireplace in the living room after a long time. Without having to light the fire, put in the firewood and turn on the gas valve and you are done.
Shortly thereafter, the firewood caught fire and blazed brightly.
Taegyu said.
“It doesn’t seem very warm.”
“It’s just the interior.”
What’s the need for a fireplace in these days of underfloor heating? Still, there is a tree and a fireplace, so it definitely has a Christmas atmosphere.
Shall we play some carols?
“Will Santa Claus come in through the chimney and give him presents?”
“… … Are you?”
Kids these days don’t believe me.
Just then, the doorbell rang.
“Looks like you have a cake.”
I opened the front door and saw a man in a suit.
He politely held out the paper bag he was holding.
“Happy Christmas. This is a present from CEO Ho-Young Yang.”
“Yes?”
This was not the end. Then, gifts from the president and presidents arrived in a line. Wine, whiskey, bags, watches, shoes, coats and more.
Christmas isn’t even my birthday, so why is everyone sending presents to my house?
When I took out some of the cards inside, it said congratulations on Christmas, it was nice to see you at the party, and I wanted to continue a good relationship in the future.
Do chaebols exchange things like this on Christmas?
All of a sudden, the tree was filled with presents. Wouldn’t it be more than 100 million if you add up all these prices?
Taek-gyu looked at him and muttered.
“Jinhuya, I think Santa Claus really exists.”
“… … .”
In the evening, the guests came one by one.
“Hey, we’re here.”
“Come on.”
Eli, Hyunjoo’s older sister, and Henry arrived first. Then Sangyeop senior came, and Kihong senior came with her lover, Hyunjeong senior. Personnel manager Michael Lee also brought his wife with him.
Everyone greeted me warmly.
We ate together at the table and drank wine and beer in the living room.
I said, holding up a glass of wine.
“Everyone has worked hard all year. I wish you all the best in the future.”
We all toasted together. Then, they lit the cake they had prepared and congratulated them on having a safe Christmas and a year.
Ellie said with a happy expression.
“I think a place like this is much better than a fancy party.”
“Me too.”
Happiness is spending quality time with people you know.
“A lot of things happened this year as well as last year.”
I never imagined that I would go through so many things in one year. If it’s the biggest event, it’ll be Big One, right?
I am already half anticipating and half worried about what will happen next year.(Read more @ wuxiax.com)
Ellie took my hand and said.
“If it’s Jinhoo, I’ll do well.”
“Thank you.”
We spent Christmas drinking and talking until late.
* * *
The end of the year is a busy time for all companies.
Especially not to mention the financial side. Financial statements such as assets, liabilities, and operating profit change completely depending on changes in interest rates and exchange rates on the settlement date.
OTK Company also received the financial statements of its subsidiaries and checked the investment performance for the year. The company’s value has risen a lot, and they made quite a bit of cash.
I paid year-end bonuses not only to the employees, but also to the secretary and the security team. The employees, who received an additional bonus equal to their annual salary, cheered with their arms raised.
What else could be more important than a salary?
Unlike the popular OTK Company, the current financial market in Korea was not very good.
Unlike other countries that showed a recovery trend after the Big One, the Korean stock market fell day after day. When the global stock market rose, it fell alone, and when the global stock market fell, it fell even more. On the other hand, while the exchange rate is rising, bond yields are also unstable.
There are many reasons, but the biggest reason is Eunseong difference.
Eunsung, which ranked second in the KOSPI market capitalization, plummeted, and group stocks also plummeted, pulling the entire stock market down.
Since it is impossible to complete a car even if only one of tens of thousands of parts are missing, it is rare that the same parts are delivered from one company.
At least several companies receive deliveries, and overseas factories contract with local partners. (Depending on the country, they are forced to use more than a few percent of local parts).
However, this problem arose when Eunsung Motors was exclusively supplied with important parts such as airbags from one company.
The recall is also a problem, but the airbag supply was delayed and shipments were cut in half. Things will get better with time, but the question is whether you can survive until then.
Automobile manufacturers have relationships with numerous subcontractors. 1st vendor, 2nd vendor, 3rd vendor… … Down below it, there are countless small and medium-sized enterprises (SMEs) with less than 10 employees.
My father’s company was one of them.
The silver car is well worth it. The first- and second-tier vendors, who were a little bigger, searched for a way to make a living, such as finding other business partners. But the companies below it are drying up with each passing day.
There have already been companies that are going bankrupt, and it is predicted that even if this state continues for a month, there will be bankruptcy.
The government, which had to take measures, was completely left behind. The president himself was the one who created this situation, but he had no will to solve it.
Whenever he talks about business-friendly or creative economy, he seems to be busy finding his own way. In fact, if you thought about the national economy, you would have invested in foreign resources and would not have rolled up tens of trillions of dollars like soup.
In some cases, CEOs of small and medium-sized enterprises, who were outraged, rushed to the Blue House to meet the president and were stopped.
President Han poured gasoline on his body and tried to self-immolate, but he managed to save his life thanks to the rushing of nearby citizens.
I crossed over to the next building with Taek-gyu.
The Korean branch of Golden Gate was really busy. Most of the employees couldn’t leave their seats and worked while eating lunch boxes or hamburgers.
Hyunjoo’s older sister and Ellie were in the office of the branch manager.
“Is Golden Gate okay? The domestic stock market has fallen sharply these days.”
In terms of silver car alone, the stock price has halved from its peak, and other stocks except IT are also on a downward trend.
“The recall is a recall, but the delay in shipment is a bigger problem. The domestic demand is no different than the Eunsung car monopoly, but the airbag supply is delayed and the vehicle shipment itself is being delayed.”
“Isn’t this a problem that will be resolved with time?”
“Till then, that’s the problem.”
Hyunjoo’s older sister smoked a cigarette and said.
“I did some research, but it seems that several hedge funds are uniting and pouring short selling into the market.”
