[208]Securing the location 5
“yes. There are a lot of companies that suck up cash, such as Sunyang Electronics and C&T, right? “It is rumored that it will be difficult to dispose of the company’s accumulated reserves.”
You no longer listen to me.
“Dojun, are you acting innocent now? Or do you just want to get me in trouble?”
His complexion burned red like a flame.
“Uncle. Now is not the time for sibling rivalry. You know that credit card companies need trillions of dollars to operate normally, right? Have you seen the government announcement? It is said that the amount insolvent alone is 90 trillion won. What percentage of the cruise cards are insolvent? “We need to start extinguishing the fire before it gets bigger.”
“Are you saying that because you don’t know your uncle? Do you think my brother would lend me even ten won of his company’s reserves? “I am the one waiting for my downfall.”
“I know very well. The entire country knows that you two are in a power struggle right now, but why don’t I know? So don’t ask me to lend you money.”
“What if I don’t ask? Did you take it out? “Are you going to steal it?”
“no. Threaten him into lending him money.”
“what?”
I looked at Vice President Vibrator with his mouth wide open with a red complexion, and gently scratched the itchy spot.
“If Sunyang Card cannot overcome this crisis, it will inevitably go bankrupt. Your uncle also said this, right? It is difficult to expect government support. Then the only thing left to do is to resolve it on its own, and this is not a complicated issue. I have to make up for it with money. “If you don’t have money, you go bankrupt.”
“so? Should I go bankrupt?”
“Say we’re going bankrupt. “If the card goes bankrupt, Sunyang Group’s core affiliates, such as heavy industry and construction, that lent money to the card company will be shaken.”
The vibrator’s eyes first wavered.
The thing that scares him the most is being evaluated as the second son who is inferior to the eldest son. Affiliate stock prices sometimes rise and sometimes fall. However, on days when there is a sharp decline, you have to endure the cold gaze of external institutional investors and executives.
What is more dangerous is the group’s overall stock price.
“I fully understand it. My two uncles own a controlling stake in the group, and I own 10%. This is cleverly mixed. “From the outside, it looks like the affiliates have been completely separated, but if one person’s shares are taken out, control weakens.”
There is no problem with internal trading, but the moment the shares of the three of us go out, the overall shareholding ratio starts to change.
“Warn that the only way to prevent Sunyang Card from going bankrupt is to sell stocks of key affiliates such as heavy industry and construction.”
“You know I’m not selling, right? Likewise, my brother knows. “We will not give up on Sunyang Group even for a moment.”
“What did I say? You said it was a warning, right? Threats aren’t just words. It shows through action. “It got to the point where I thought I really had no choice but to sell my stocks.”
“Action?”
“Stop cash advances.”
“hey!”
We don’t know what it means when a service company discontinues a service. He waved his hand at his uncle, who screamed in surprise.
“it’s okay. Because it’s temporary. If the Sunyang Card service is discontinued, the stock price will drop from that point on. Will I just run out of cards? Nope. The stock price of the entire group falls. “That is a threat.”
Vice Chairman Jin Jin-gi was seen working his head diligently.
“It only takes two service outages for everyone to think differently. “You will feel that your cruise card may go bankrupt.”
“My brother is moving to prevent the worst… ?”
“Aren’t you going to cry and eat mustard?”
Suddenly, a small smile appeared on the corner of my uncle’s mouth.
“you?”
“yes?”
“The stock price of your financial affiliate will also fall, right? Are you saying that Sunyang Life Insurance’s financial difficulties are getting worse? You are in a situation no different from my older brother. “You just taught me how to strangle you.”
My uncle’s smile grew wider.
“Oh, I see. Such a stupid thing… . haha.”
My uncle’s smile disappeared because of my laughter.
“You have another ulterior motive.”
“Don’t you still know the difference between your two eldest fathers and me? “If the future of Sunyang’s financial affiliates is unclear, we can liquidate them all.”
“what?”
“If I had really wanted to protect my affiliates, would I have handed over the credit card company to my uncle?”
Vice Chairman Jin Jin-gi twitched his eyes and said nothing.
“All you have to do is coolly evaluate the asset value of your affiliates, break them into pieces and sell them at the highest price before the company falls further into the abyss.”
When I said it casually, he started to get angry.
“You bastard! Do you think so lightly of the company your grandfather inherited? By holding on and persevering through difficult times, Sunyang Group became what it is today. “If I sold it because it was difficult and passed it off as difficult, would the current name Sunyang be worthy of it?”
“Times have changed. “We can’t protect Sunyang’s name forever using the same methods as in the past.”
“what?”
“The card crisis should not be taken lightly. Domestic demand has plummeted. And there is no sign of recovery. In times like this, it is better to get rid of the affiliates rather than holding on to them. And when the economy returns to normal, we can take over again.”
“The company is a hole-in-the-wall store! “Sell when times are tough and buy again when things get better?”
“It’s no different for me. Although corporate M&A may seem complicated and difficult, the essence of buying and selling products is the same. All you have to do is sell the difficult life insurance company and later buy a good life insurance company and change the sign. “It will be a much better company than it is now, right?”
I added a word to my uncle who was too shocked to open his mouth.
“Please don’t blame me for my choices. This is because of my uncle. If you give us 800 billion won in bonds at maturity, there is no need to buy or sell the company. “It was my uncle’s cruiser card that put the group in danger.”
My uncle, who knew it was his responsibility, did not open his mouth. His mind must be complicated now.
I was told that I should have no regrets as big as a fingernail in Sunyang Group.
It was obvious that he was trying to figure out whether my words were sincere or whether this was also a threat that Sunyang’s financial sector would disappear if the money was not repaid.
The longer I think about complicated thoughts, the more they wander in a fog. I stood up before he could read my mind any further.
# # #
Vice Chairman Jin Jin-gi stared at the empty space left by Jin Do-jun for a long time and muttered.
“I pretend to be deceived even though I know his dark side… . No, should I do whatever he wants… … .”
He couldn’t hide his bitter expression, as if he felt pathetic at having to be dragged around by his young nephew.
* * *
『As of midnight today, Sunyang Card cash service has been suspended. This is the second credit card company to suspend service after K Card was temporarily suspended.
Sunyang Card said it would spare no efforts to resume service as soon as possible. However, there has been no official announcement from Sunyang Group yet.』
The place where the TV evening news was broadcast was the Sunyang Group Chairman’s office, which was empty for a while but was always kept clean.
Neither of Sunyang’s two vice presidents could bear to sit on the chairman’s chair. Instead, they sat side by side on the sofa and just looked at the portrait of their father on the wall for a while.
“What do you want to do now? “Can you resolve it soon according to the news?”
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“no. can not.”
“It’s terrible. “Are you bragging?”
The two did not look at each other or take their eyes off their father’s portrait. However, we exchanged stories in calm voices as if it was no big deal.
If someone who doesn’t know the content sees it, it’s like exchanging appreciation of a portrait.
“The money I have to give to Dojun and the money I have to run the credit card company are all 1.3 to 4 trillion won. Where do you get that? Even if you calculate it without the money you already forgot, you get that much.”
“You’ve been bullied by your nephew. Let’s flirt. “Hehe.”
“It’s not like I was wrong… . I had some fun for about a year. And wouldn’t it be too much to think that Dojun predicted that something like this would happen?”
“I say that because it fits so perfectly.”
Vice Chairman Jin Young-ki also did not want to believe that. It would be difficult to deal with a nephew who sold out his credit card company as if he had foreseen it with frightening accuracy.
“When coincidences overlap, they say it’s inevitable, but it’s just a coincidence. Rather, we need to save 60 billion before the end of the day. Only then will normal service be possible from tomorrow.”
“Are you asking me to lend you money?”
“I hope so.”
“It’s shameless… .”
Jinyoung-ki knows why his younger brother is so shameless. Today, when Sunyang Card’s cash advance service was suspended, the stock prices of all Sunyang affiliates fell.
This means that distrust is starting to spread that even Sunyang, which seemed like an impregnable fortress, could collapse. Distrust reduces the strength of pure yang.
“If I don’t lend it to you, will the cruise card just become a piece of plastic?”
“It’s worse than that. “It’s only a matter of time before it goes bankrupt.”
“Stop it. “Don’t be harsh.”
“It’s not a big deal. “I’m really out of money.”
Vibrator turned his head and looked at his brother’s face and said.
“The best I can do is discard the cards. It’s okay to abandon a company full of debt, but the problem is… “It’s Dojun.”
“Dojun?”
“okay. Heavy industry and construction stocks pledged as collateral. “That falls into Dojun’s hands.”
“That’s your problem, not mine.”
In any case, it is a transfer of the group’s controlling stake. Whether the stake is in his brother’s hands or in his nephew’s hands, there is no difference from Jinyoung-gi’s perspective.
“Soon, sparks will fly to my brother too. “It’s our problem then.”
“What do you mean, that?”
“He said if I don’t repay the 800 billion won to Sunyang Life Insurance, he will sell all the stocks he owns and get out of business. Are you going to clean it up and live again later when spring comes? “That’s his kind of thinking.”
“what? Sell all your stocks?”
Only then did Jinyoung-gi begin to look at his younger brother’s face.
“You crazy bastard, that’s what you’re talking about!”
“Is he crazy? no. He’s the smartest guy in our family. You know. Because we know that these threats work on us. “He’s the kind of guy who would do anything to get his money back.”
Jinyoung-gi quickly thought and calculated.
If the nephew’s 10%, or 800 billion won, collateral is at least 7% of Vibrator’s 33% shares. 17% of stocks disappear in an instant.
If this stock goes to Miracle, Miracle will hold 33% of the group’s controlling stake.
He immediately became the second largest shareholder of Sunyang Group. If friendly shares are secured, Miracle may swallow Sunyang.
Jinyoung-gi stared at the vibrator and bit his lip.
I still don’t know who this threat came from.
Is this a threat from my nephew?
Or is it a threat made by his younger brother using his nephew’s name?
Regardless of who it came from, this is a legitimate threat.
However, Jinyoung-gi is too proud to give in to threats. I wanted to turn threats into deals.
“I’ll give you 1.5 trillion won. instead… .”
“Dojun give up the heavy industry and construction stocks he has as collateral?”
“My brother, you really have a sense of humor… . “It doesn’t rust even with age.”
Jinyoung-gi smiled and nodded his head.
“That’s not allowed. If you hand over 7% of the stock, you are even passing up the opportunity to sit under that portrait. “We’d rather die together.”
“Poisonous bastard… .”
Jinyoung-gi clicked his tongue as he looked at his younger brother pointing at his father’s portrait.
“You seem smart at times like this, but you have a sloppy side.”
“I?”
“okay. According to what you said, if I go to Dojun with 1.5 trillion won, he will throw away the heavy industry and construction stocks he holds as collateral, right? Whether the cruise card goes bankrupt or not is none of my business… . “What would you do if Dojun and I did business in this room without you?”
Jinyoung-ki’s eyebrows trembled at Jinyoung-ki’s words.
It was an unexpected counterattack.
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