[170]Gather together 1
“Manager. “Who do you think is in power in Sunyang Group?”
“That’s Chief Secretary Lee Hak-jae. “Isn’t he truly the Chairman’s right hand man?”
“Then what should I do to become powerful?”
“Isn’t it trust?”
“trust?”
“yes. Absolute trust in those in power. “Other people know that too.”
Powerful, attractive word.
A person who wields another power next to the person with absolute power, sometimes or often wields more power than the person they serve.
However, trust alone does not make one powerful.
“Manager. In my opinion, this is what real power is. You can meet a person in power at any time, you can talk about anything when you meet, and most of what you say must be done through the person in power. If even one of these is missing, you are not in power. Now, is Director Lee Hak-jae in power?”
Executive Director Jang Do-hyung looked at me with a slightly disappointed expression and sighed briefly.
“You are strict. It’s so bad… .”
“I didn’t mean it that way.”
“yes?”
“Everyone at Sunyang Group believes that Director Hakjae Lee is a powerful person. Grandpa isn’t the only one who thinks that way. “The important thing is not whether you are powerful or not.”
“ah… ! okay. If everyone thinks they are powerful… .”
Only then did Executive Director Jang Do-hyung slap his knee.
“Today’s event will expand Executive Director Jang’s scope of maneuver. Please take full advantage of it.”
Director Jang nodded his head and spoke with difficulty.
“How do you come up with all these thoughts? Are you receiving any special instruction from the Chairman?”
“well. There is a saying that everyone is a teacher if you just open your eyes and ears wide. haha.”
When he said something that didn’t even sound like a word, Executive Director Jang seemed to be shocked and laughed.
“Okay, enough joking, let’s start reviewing the documents.”
“Ah yes.”
Executive Director Jang unfolded the plan he had prepared.
It was a complex plan, similar to a semiconductor circuit design.
“We need to start by integrating the affiliates’ computer systems. With that system, you can even check the daily status. “We will prepare so that you can understand the cash flow of affiliates at a glance.”
“The problem is analyzing the available funds. “You know that you can make money only if you know the exact operating period, right?”
“yes. really… . “Are you going to use the funds to buy back shares?”
“That’s right. You know that the current shareholding structure is unstable, right? If the two vice presidents accumulate the stocks of our affiliates, their securities and cards will be taken away at once. Of course, since my grandfather is watching, I don’t buy them openly, but I definitely buy them behind the scenes.”
“We plan to gradually liquidate real estate owned by our affiliates. It’s a shame considering land prices will rise in the future, but… .”
“are you okay. You can buy the land again, but you will never be able to get the stocks that fell into your uncle’s hands. “Don’t think it’s a waste, just change it to stocks.”
“yes. By the way, Director.”
“Please speak.”
“The Cruiser Card. I heard you said there were signs of risk during the last meeting with the CEOs of affiliates… . Is that correct?”
“yes. “How do you know?”
“President Lee Min-seop returned to the company and was furious.”
Managing Director Jang said, avoiding my eyes. It seems like a tattletale and I feel uncomfortable.
“The little bastard was showing off with his grandfather on his back?”
“Well, it’s similar.”
I answer with my eyes still downcast, probably embarrassed.
“You know my opinion, but would you like to hear the executive director’s opinion as well? How is it? “Card, are you okay with it like this?”
“I’ll be honest with you. Aren’t credit cards basically a money game? You are playing with interest that is higher than the market interest rate, but if you only care about the recovery rate, you are denying the business itself. You have to take into account that it may not be recoverable to some extent. As the amount of receivables increases, the amount that cannot be recovered increases, but the interest or fees earned instead also increases. This balance should not be ignored.”
also.
The unexpected danger suddenly strikes.
You can see this just by looking at the IMF. But three years is enough time to forget. No one has yet sensed the card crisis that would hit like a tsunami.
“okay. “I guess I should at least apologize for this?”
“yes?”
“no. Then let’s do it like this. When buying back shares, focus on securities. There is no need to touch the card. Instead, transfer the shares held by the card company to other affiliates little by little to Sunyang Life Insurance.”
Jang Do-hyeong tilted his head and frowned.
“You haven’t changed your mind.”
“I’m a bit stubborn.”
“Then we need to change the credit card company’s policy.”
“no. “Let it go.”
In order for the uncle to pour money into a credit card company that is about to go bankrupt, someone needs to provoke him, but can President Lee Min-seop play that role? Or should I at least throw some bait?
Executive Director Jang Do-hyeong just quietly watched me lost in thought with suspicious eyes.
“Let’s do it this way.”
“yes.”
When I organized my thoughts and came up with a plan that would work, Executive Director Jang looked very nervous.
“Director, you are hinting at President Lee Min-seop. Jin Dojun seems to be a bit reluctant to bump into people. That’s why he likes investments that only require him to look at the monitor.”
Director Jang waited for me to finish speaking.
“But his views on credit card companies are different, and he is so negative that he seems to regard credit card companies as annoying bumps. What should I do? what… Like this… .”
“Looking at the manager’s actions so far, it seems plausible whether it is true or not.”
“Yes? It is important to make the other person trust you. “If President Lee Min-seop believes this, how will he act?”
“well. “If I were in President Lee’s position, I think I would be furious, right?”
“Why is that so?”
“Currently, the performance of credit card companies is extremely good. But if the owner treats you like an annoying bastard, you won’t feel good.”
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“I guess so, right? Moreover, if the owner is an old man, your pride will be greatly hurt. Then I would go find someone… Are you sure it’s not my grandfather? “I cannot dare to go against the president’s decision.”
Executive Director Jang’s expression completely changed. I think he understood my intention.
“Si, Chief. no way?”
“Other than my grandfather, the most powerful person is Vice Chairman Jin Young-gi.”
“Are you thinking of selling your credit card company?”
“It’s not a sale, it’s an exchange. “I’m choosing a good one among my uncle’s affiliates and changing him.”
“Chief. If you think about the performance of credit card companies now… .”
“Is it a waste?”
“of course.”
“Because it is a wasteful company, it can sell at a high price. Now, find a similar one among Vice Chairman Jin Young-gi’s affiliates. It’s okay to be a little short. Anyway, it just needs to be a company that makes my uncle feel like he has benefited from it.”
Executive Director Jang Do-hyeong’s expression clearly showed that he wanted to die because it was a waste, and looking at that expression, I was convinced that this transaction was entirely possible. Additionally, a company that pumps out cash can be of great help in securing shares to take over the group. It’s coveted.
“As I mentioned earlier, please proceed quickly with the transfer of stocks of affiliates held by credit card companies.”
“Have you made up your mind?”
“yes. But don’t waste it too much. I make sure that once something comes into my hands, it never falls into the hands of someone else. Whether it’s money, a company, or a person… .”
Executive Director Jang Do-hyeong, who realized that he was the last person to speak, smiled softly.
“The credit card companies that have left my hands will soon come back. No, I will definitely come.”
“What on earth are you thinking… ? “Could you please tell me?”
“This is a story that is difficult to understand and accept. Just watch.”
* * *
“what? “He said something like that?”
“yes. To be honest, I thought Jin Do-jun was not an ordinary kid… It turned out that I was just stubborn and believed that my thoughts were right. “He was a typical third-generation chaebol.”
“On what basis does he believe that we are incompetent?”
“That’s right. “Aren’t you just talking about a couple of books somewhere?”
“Holy shit!”
When CEO Lee Min-seop heard unpleasant words on his first day of work in the new year, curses poured out of him.
“Director Jang. What should I do with that bastard? Looking at you, it looks like he’s planning to make you his henchman?”
“Among the executives, I’m probably the easiest. I chose it based on my age. Aren’t the presidents of affiliates older than your father, President Jin Yoon-ki? “It’s probably because it’s difficult to say one way or another.”
Lee Min-seop, who was wandering around the president’s office, looked at Executive Director Jang and said.
“I had a hard time pleasing the child. “Go out.”
“What do you plan to do?”
“I will take care of it. “Go.”
“yes. then.”
When Jang Do-hyung disappeared, President Lee Min-seop picked up the receiver.
“Check Vice President Jin Young-ki’s schedule. “When I have free time, I’ll tell you that I’d like to see you.”
President Lee put down the receiver and pursed his lips.
* * *
“The greeting was late. “I’m sorry, Vice President.”
“no. “I’m just grateful that you came to visit me like this.”
Vice Chairman Jin Young-ki helped President Lee Min-seop, who was bowed, to his feet.
“Everyone is busy visiting their owners and saying hello, so there’s no way they can afford to worry about the people next door. “It’s okay, so don’t worry about it.”
The two people who sat down on the sofa briefly exchanged good wishes for the new year.
“Hey, Vice President.”
“yes.”
“Are you going to just stay like this?”
“huh? What does it mean?”
“So, I wonder if you plan to let your young nephew take over your financial affiliate.”
“Why are you talking about something so serious right from the beginning? haha.”
His mouth smiled, but his eyes sparkled.
The first thing to do is confirm the facts about what happened.
“Our boss, have you been mistreated by my nephew?”
President Lee Min-seop conveyed exactly what he had heard from Executive Director Jang Do-hyung. The only difference is that his tone is a little more exasperated, but he never forgets to try to convey the truth as much as possible without adding or subtracting anything.
“hmm… .”
After hearing the whole story, Jinyoung-gi’s mind became busy. Because it might be an opportunity.
“So my nephew is not very happy with the credit card company?”
“yes. “I don’t know where or from whom I heard it.”
“Maybe it’s because of my father.”
“yes? Chairman, what do you mean?”
Jinyoung-gi nodded his head.
“He was reluctant to start the card business. He shook his head and said it was a profit-making business. As the world changed and credit cards became a necessity, you started reluctantly. Dojun must have been affected by that… .”
“ah… .”
When President Lee Min-seop first complained about Jin Do-jun’s insolvency and recovery rate, he thought he was using the knowledge he learned in the securities market.
However, I became even more angry when I realized that it was only the influence of the older generation who valued cash as the most important thing.
“Is there anything else you can say? “What about our Dojun?”
President Lee Min-seop couldn’t be more pleased with Vice Chairman Jin Young-ki’s interest, so he poured out words as if he had been waiting.
“I think I was thinking wrong all along. I thought Dojun was a pretty smart kid and had enough managerial qualities… .”
“Did I get it wrong?”
“I thought that the separation of ownership and management, responsible management, and the majority shareholder’s statement that the evaluation of professional managers was everything were steeped in Western thinking. But when I think about it again, it’s just annoying.”
“It’s annoying?”
“yes. Think about it. I am a young person who has just graduated from college. Plus, he’s the youngest. Would you be happy to hang out with adults like us? Moreover, she only learned about stock investment by looking at the monitor.”
President Lee Min-seop created a new fact by mixing what he heard from Jang Do-hyung with his own wishes.
When Vice Chairman Jin Young-ki listened with interest, I wanted to believe it was even more true.
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