Chapter 510 Wait for him to go bankrupt

Li Weidong's sentence I'm here to die made Lu Guangming a little confused.

Death? I'm talking about Daewoo Group in South Korea, not a small business of cats and dogs. Daewoo Group is the second largest group in Korea, second only to Hyundai Group! Lu Guangming said.

I'll explain this matter to you later. Li Weidong paused, then asked, Is the news from Daewoo Group accurate? Could it be the news that Jinzhou City deliberately released to let us know? Raise the price?

The shopping mall is like a battlefield, and a Daewoo Group suddenly appeared. Li Weidong did not rule out that it was a smoke bomb deliberately released by the local in order to raise the price.

Lu Guangming lowered his voice and replied, It shouldn't be a deliberately released smoke bomb. In order to find out this news, I used the money.

That should be true. Li Weidong continued; Even if Daewoo Group intervenes, don't worry, continue to inquire about news, I will visit in person the day after tomorrow.

What's more, it still depends on the conditions for corporate mergers and acquisitions. At present, the conditions we have offered are quite good. The price of 30 million has exceeded the net asset value of Sanquan Factory.

Koreans are notoriously stingy. I believe that Daewoo Group will definitely offer a price of less than 30 million, and other details will only be calculated. At that time, we will have an advantage over the acquisition conditions.

But Daewoo Group is a top-level group after all, with tens of billions of assets alone. I heard that it can also be ranked in the top 50 in the world's top 500. Whether it is compared to capital, scale, or comparison Fame, our puppy's health is several grades worse than others. Lu Guangming said.

Li Weidong said confidently: What about the Fortune 500! Even if Sanquan Factory is really sold to Daewoo Group, I can still make them spit out all the leftovers before the end of the year!

...

If European and American companies are very involved in the acquisition of Sanquan Medical Device Factory, Li Weidong may be nervous. But South Korea's Daewoo Group, Li Weidong really didn't take it to heart.

Not because Daewoo Group is not strong enough, but because it is 1997.

The development history of Daewoo Group has been boasted by Koreans as a business myth, and Jin Yuzhong, the founder of Daewoo Group, is also regarded as a national hero by Koreans.

Jin Yuzhong started out as a clothing store, initially as a small clothing store, and later developed into a textile factory. At that time, just in time for the low-end manufacturing industry to be transferred from Japan to the Four Little Dragons in Asia, the shirts produced by Jin Yuzhong took this opportunity to be exported to the United States, which successfully opened up the time difference in the United States.

After accumulating a certain amount of capital, Jin Yuzhong began to develop into machinery manufacturing, shipbuilding, construction, petroleum, chemical industry, automobile, communication and so on.

The expansion of the Daewoo Group just caught up with Park Chung-hee’s administration. A very important part of Park Chung-hee’s economic policy is that the state subsidizes banks, and the banks subsidize large companies. After the big companies grow, they will feed back the country’s economy.

This economic policy has allowed South Korea to achieve economic growth in a short period of time, but it has also created South Korea's chaebol economy. The entire Korean economy is controlled by the chaebols, and when the power of the chaebols reaches a certain level, the rulers are overtaken by the chaebols.

The largest chaebol in South Korea in later generations is naturally the famous Samsung, but in 1997, the electronics industry had not yet grown up. At that time, the largest group in South Korea was the Hyundai Group, which mainly manufactures automobiles.

The Daewoo Group, which also focuses on automobile manufacturing, is the second largest group in South Korea.

The 1970s and 1990s belonged to the golden age of automobiles, but those who built automobiles were the leaders of their respective countries.

One of the major characteristics of the chaebols in South Korea is that they involve various industries. The daily necessities of the Koreans are inseparable from the chaebols.

Later generations often say that Samsung can contract a Korean from birth to death. In fact, other big Korean chaebols can basically do this.

For example, in Lotte Supermarket in South Korea,

You can buy shampoo made by LG Group, you can buy ham slices made by Hana Group, you can buy sanitary napkins made by Hyundai Group.

In South Korea, the industries under the top chaebols can really supply your daily needs.

Among them, Daewoo Group is the largest and most involved in the industry.

Daewoo Group's business strategy is to develop in an all-round way, regardless of industry.

But it is precisely because of this rapid expansion that Daewoo Group is big but not strong. Among the main businesses of Daewoo Group, few of them are the first in Korea.

In foreign trade and retail, Daewoo Group can’t compare to Lotte; in electronics, Daewoo Group can’t compare with Samsung; in communications, Daewoo Group can’t compare with SK; in automobile and shipbuilding, Daewoo Group can’t compare with Hyundai; in daily necessities, Daewoo Group can’t compare with LG; In steel, Daewoo Group can’t compare to Posco; in industrial raw materials, Daewoo Group can’t compare with Doosan; in petrochemical and transportation, Daewoo Group can’t compare with Hana.

This big but not strong situation also laid the groundwork for Daewoo Group to go bankrupt in the future.

In 1996, Jin Yuzhong, the leader of Daewoo Group, formulated an ambitious five-year plan to double Daewoo's overseas business and double the size of Daewoo's factories within five years.

Then came the Asian Financial Crisis in 1997, the Korean economy collapsed, and this expansionary five-year plan became a death plan.

The Daewoo Group with total assets of more than 60 billion went bankrupt in a short period of time. Kim Woo-jung, once regarded as a national hero by Koreans, was sentenced to 10 years in prison and fined more than 20 trillion won.

In the end, the assets of Daewoo Group were also swallowed up by a number of American companies at a low price, leaving no slag.

This is also a true portrayal of Korean companies during the Asian financial crisis. At that time, the International Monetary Fund, the International Monetary Fund, was willing to lend to South Korea, and the conditions attached, for South Koreans, were described as loss of rights and humiliation, which were all well-intentioned.

South Korea eventually survived the Asian financial crisis and recovered quickly, but at the cost of selling the entire country to Wall Street.

For example, South Korea's No. 1 Samsung Group, Wall Street holds 55% of the shares. And Samsung's preferred stock, nearly 90%, is controlled by Wall Street. The Lee family, which controls Samsung, owns only 2% of Samsung's shares.

Fortunately, the Li family firmly controls the entire Samsung Group through a complex equity structure.

However, the most important function of preferred shares is to enjoy dividends, so Wall Street took most of Samsung's profits through dividends, and the Samsung Group, which contracted Koreans from birth to death, was actually a Wall Street wage earner.

It is precisely because South Korea is so miserable in the Asian financial crisis that Li Weidong does not take Daewoo Group to heart.

The current Daewoo Group, which came to acquire Sanquan Factory, should be implementing the so-called five-year expansion plan.

However, this behavior of Daewoo Group, in Li Weidong's view, is undoubtedly a door-to-door death. The faster the Daewoo Group expands, the faster it will die after the Asian financial crisis!

Even if Daewoo Group really bought Sanquan Factory, Li Weidong is not worried at all. The big deal will wait until November, when the Asian financial crisis hits South Korea, and Daewoo Group faces bankruptcy crisis and will take the initiative to spit out Sanquan Factory.

...

Two days later, Li Weidong came to Jinzhou again.

In the past two days, Lu Guangming has also collected more information.

Jinzhou City already has an office of Daewoo Group. According to my inquiries, people from Daewoo Group proposed to Jinzhou City to acquire Sanquan Factory 20 days ago. Lu Guangming explained.

Twenty days ago? That was when the assessment of the assets and liabilities of Sanquan Factory had just ended, right? Li Weidong asked.

Lu Guangming nodded: It was about that time, when we just started talking about the price, the Koreans came to ask for the acquisition.

The valuation of Sanquan Factory has just been completed, and the acquisition is proposed immediately. This is because an insider leaked the news. Li Weidong smiled indifferently.

This is also a normal thing. There is no airtight wall in the world. It is impossible to completely keep secrets when buying a company with former employees.

The people from Daewoo Group are really good at saving trouble. If they want to acquire a company, they don't do their own investigation. They just jump in when everyone else is about to talk about it! Lu Guangming said.

After all, Daewoo Group is a Korean company, and they don't know much about domestic companies. I guess that when the news about our acquisition of Sanquan Factory leaked out, they knew that Sanquan Factory was a high-quality asset, so they also came to propose an acquisition. Li Weidong Open analysis.

Lu Guangming's face was gloomy; That Shen Yuan City Palace is deep enough. He clearly knew that Daewoo Group was going to acquire Sanquan Factory, and he was patiently negotiating with us, and even the details were finalized!

Shen Yuan is taking advantage of the situation! If he just talks with one family, the price will definitely not go up. So he talks with us and the Koreans at the same time, so that he can use the negotiation process on our side to force the Koreans Give better conditions. This time, we were used by him as a gunman! Li Weidong said.

It's so maddening! I've been talking to him sincerely for so many days, but I didn't expect to be played by him as a monkey! Lu Guangming said with a face full of resentment.

Li Weidong asked, Have you found out what kind of acquisition conditions Daewoo Group offered?

I heard that the acquisition conditions of Daewoo Group are far worse than ours! They are only willing to pay 25 million. And it is not a one-time payment, but a payment in batches, 2 million to 3 million at a time.

Lu Guangming went on to introduce: And Daewoo Group is not willing to accept all employees. The employees who originally belonged to Sanquan Factory need to pass the training and assessment of Daewoo Group, and can only be employed after passing the test.

Assessment? This is an excuse to lay off staff in disguise! Those older workers are probably going to be out of luck. Li Weidong sighed.

Foreign-funded enterprises are not as conscientious as Li Weidong, layoffs are absolutely unambiguous, and they will not care whether they are laid-off workers or not, and whether their families are in difficulty.

If you can work and bring benefits to the company, you can stay. Otherwise, if you can't bring benefits to the company, you must get out of the way.

This so-called training assessment is obviously a way of weeding out employees. Those who are older and less educated do not have much learning ability. If they conduct training assessments, they must be the ones who will be eliminated.

Li Weidong went on to say: On the basis of the conditions we have seen, we have an advantage, but Daewoo Group is foreign capital after all, and even if the conditions they offer are lower, Jinzhou may choose them.

25 million foreign capital is much more than our 30 million! Old Lu, you have to be mentally prepared, our efforts for more than a month may be in vain!

...

In the conference room, Shen Yuan said with an apologetic expression, Chairman Li, I'm really sorry, we can't refuse Daewoo Group's investment!

Jinzhou City is located on the Liaodong Peninsula, facing Japan and South Korea across the sea. It has always been an important area for attracting investment from Japan and South Korea. Our policy is to give priority to attracting foreign investment from Japan and South Korea.

Daewoo Group is the top enterprise in Korea, and there are many investment projects in Jinzhou City. Therefore, based on the principle of friendship, mutual benefit and long-term cooperation, we must give priority to Daewoo Group's investment. In this regard, I also hope that Chairman Li can understand.

Li Weidong knew that Shen Yuan's apologetic appearance was pretending, but he still smiled and nodded, and said, I understand. It is indeed not easy to attract investment from a large company like Daewoo Group.

But there is one thing I would like to explain, as far as I know, the conditions prescribed by our puppy's health are better than those of Daewoo Group.

We are willing to invest 30 million yuan, while Daewoo Group only contributes 25 million yuan, and our 30 million yuan can be paid in one lump sum, while Daewoo Group's 25 million yuan is like squeezing toothpaste and paying in batches.

We are also willing to accept all employees of Sanquan Factory, which Daewoo Group can't do. So I think it will be more beneficial for you Jinzhou City and the employees of Sanquan Factory if you choose us.

In the short term, this is the case. If you choose your puppy to be healthy, Sanquan Factory will be able to sell 5 million more, and the employees will be more secure. But we can't just look at the short-term benefits, but also the long-term benefits!

With a businesslike expression, Shen Yuan continued: After all, Daewoo Group is a foreign capital, and it is also a Fortune 500 company with strong strength. South Korea is also a high-income country, and it is more advanced than us in terms of technology.

With the investment from Daewoo Group, we can take advantage of the strong capital of foreign companies and use foreign advanced technology to complete the upgrading of the industry, which will definitely be more beneficial to Jinzhou City in the long run.

Li Weidong nodded, as if he agreed with Shen Yuan's statement, then he stood up, stretched out his right hand towards Shen Yuan, and said at the same time, Since you have already made a decision, then I will not force it. I hope we will continue to do so in the future. There are opportunities for cooperation.”

Shen Yuan replied very officially: I also express my most sincere apologies to Chairman Li, General Manager Lu, and Puppy Health again, and I am very grateful to Chairman Li for understanding our work.

...

Li Weidong and Lu Guangming left the conference room.

Lu Guangming said with a displeased face; Whatever takes advantage of the strong capital of foreign companies and the use of advanced foreign technology is obviously because of the identity of Daewoo Group's foreign capital!

This is normal. In the past two years, the state has attached great importance to attracting investment, especially attracting foreign investment, which is also a very important assessment indicator in the local area! Foreign companies are definitely welcome to invest in the local area, not to mention the Golden State. It was originally a gathering place for Japanese and Korean capital. Li Weidong said calmly.

But the conditions we offered are obviously better! Lu Guangming said with a face of dissatisfaction.

But they are foreign capital! That's enough. Li Weidong responded.

Lu Guangming couldn't help but scolded in a low voice, I would rather give foreigners than domestic slaves!

Li Weidong chuckled: Old Lu, you can't say that, what kind of slave is not a slave, each of us is the master of the country!

Lu Guangming didn't have such a good mentality as Li Weidong, and he didn't bother to argue with Li Weidong, but asked directly: You didn't say it before, even if Daewoo Group bought Sanquan Factory, they can all spit it out. So what do we do next?

What to do? One word! Li Weidong stretched out a finger and said, Wait!

What are you waiting for? Lu Guangming asked inexplicably.

Wait for Daewoo Group to go bankrupt! Li Weidong replied.

Don't make fun of me! Lu Guangming said, shaking his head.

Li Weidong replied with a serious look: I didn't tease you, what I said is true!

That's Daewoo Group, one of the top 500 in the world. They have tens of billions of dollars in assets, so how can they go bankrupt! Even if they go bankrupt, it's not something we can wait for! Hundreds of billions of dollars. Billion dollars, even if it is burned as paper money, it will take a few years to burn! Lu Guangming said.

Who said the Fortune 500 can't go bankrupt? Maybe even South Korea will go bankrupt by then! Li Weidong smiled and then said, Old Lu, just wait patiently. It is estimated that by the end of this year, or next year. At the beginning of the year, that Shen Yuan would beg us to take over the Sanquan Factory!

...

Li Weidong and Lu Guangming returned to the capital together.

As soon as he got off the plane, Li Weidong turned on his mobile phone and received a call from his secretary.

Chairman, there is a person named Situ Jian who called you!

Academician Situ! Li Weidong was shocked, and quickly asked for Situ Jian's phone number, then called back.

After the two exchanged a few words, Situ Jiancai said, Xiao Li, do you remember that we had a meeting and discussed the negotiation of joining the WTO.

Li Weidong thought for a while and replied, Remember, Professor Huang Liwei was there at the time.

Yes, at that time, you discussed Thailand's economy with Lao Huang. At that time, you judged that Thailand would give up its fixed exchange rate, and international financial speculators would attack Thailand. Situjian continued.

There is such a thing. Li Weidong continued: Thailand has not announced the abandonment of the fixed exchange rate yet?

Thailand has not given up on the fixed exchange rate, but the international financial speculators have come! Situ Jian sighed and continued; You are also half-accurate in your prediction, so there will be an internal meeting tomorrow, and you must come!

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