[210]Multi-facet 2
“Now can you explain exactly what you mean? “The word absorption.”
“of course. “It’s not that difficult.”
I felt that two people were only looking at my mouth.
“If Cruise Card goes bankrupt, as you said, it will be a huge shock to the people. It might be confusing. Merchants probably won’t accept other cards either. “They will think that they may not be able to receive the money they paid with their card.”
“It’s not just that. If you are concerned about a series of bankruptcies by credit card companies, short-term bonds will not work. “Money circulation comes to a complete halt.”
Director 1 also added the dangers behind the card economy.
“I know very well. But wouldn’t this be the strongest message sent to the business community since the inauguration of the new administration? “It is the Sunyang Group.”
“If it completely absorbs the shock, then yes.”
The chairman spoke calmly. He wants to hear my answer.
“We will prepare a company to immediately take over Sunyang Card.”
“Acquisition?”
“yes.”
“Now, even if the credit card companies add more money, there will be no place to take it.”
Director 1 waved his hands wide as if this was nonsense.
“Mr. Jin Do-jun.”
The chairman calmly called me again.
“Yes, please speak. Chairman.”
“Since you are a member of Sunyang Group, I will be honest with you.”
He let out a long sigh and began to speak cautiously.
“If the government steps forward and provides the cause of the bankruptcy of one of Sunyang Group’s affiliates, our Financial Supervisory Commission will come under enormous attack. “There are many people in the media and government agencies who view the Sunyang Group with a favorable view.”
How many Sunyang scholarship students are enough for the head of the Financial Supervisory Commission to be afraid of?
“If the situation is resolved quickly, there will be less criticism. You shouldn’t be shaken by that, right? “This is the first battle of the newly launched government.”
“It’s easier said than done. Dojun Jin, you probably know the power of your grandfather, right?”
“Then, if I block that part, would you like to proceed?”
“If it can be resolved quickly, we can discuss it.”
What if the government blows up the Sunyang Card, and finds a buyer before the shock spreads and normalizes the Sunyang Card? Perhaps the credit card situation can be stabilized quickly. Because you can relieve pressure and resolve at the same time.
“Please give us your desired timeline. “Please consider that it can be taken over immediately upon the final bankruptcy date of the Sunyang Card.”
“Are you going to take over Jin Do-jun? For example, Sunyang Life Insurance.”
“Not me.”
The two people looked perplexed at my answer. This is because, in their opinion, there was no one other than me who could take over the bankrupt Sunyang Card.
“What on earth are you doing? “Everyone is wrapping their heads around the credit card companies, but who do you think will take over the bankrupt credit card companies?”
Director 1 said as if urging.
“Excuse me for a moment.”
I took out my cell phone.
“Please come in. CEO.”
I smiled slightly as I ended the short call.
“He is the person who rescued bankrupt companies whenever the Korean economy was in crisis.”
At this time, the door opened and CEO Oh Se-hyun came in.
The two people were surprised to see Oh Se-hyun, but it seemed like they were seeing a reliable relief pitcher.
“This is going to be quite a long time tonight.”
The chairman smiled and extended his hand to Oh Se-hyeon.
# # #
“As you know… “Although Miracle is foreign capital, isn’t it an exemplary investment company that thoroughly separates ownership and management?”
“It was unexpected. I expected that Ajin Group would be torn apart and sold soon after taking over… . “I never imagined it would grow like it did now.”
After drinking a few beers, the chairman looked at Oh Se-hyun, who was almost praising himself, and heaped praise on her.
“It will happen this time too. If we take over Sunyang Card, we will introduce advanced American techniques and transform it into a transparent and sound company without any insolvency. “Aren’t we free from the tyranny of the owner’s family?”
Oh Se-hyeon joked for no reason and agreed with the chairman’s words.
“So the buyer is Miracle Investment?”
When Director 1 asked carefully, Oh Se-hyeon quietly put down the glass of beer he was drinking and said.
“no. It is a subsidiary of Miracle in the U.S…. It will be a separate corporation. “It’s because the eyes of powerful conglomerates who are wary of our Miracle are stinging.”
“I just want to ask you one thing.”
“yes. “Please speak at ease, Director.”
“Why are you trying to acquire a credit card company during this difficult time?” . “Can you be honest with me?”
“The biggest reason is cars. Are you familiar with HW’s new car? “Our
“of course. My daughter also bought that car. I even provided a guarantee. haha.”
This time, the chairman agreed.
“yes. At first, Sunyang Capital was in charge of credit sales of the car, and now it is done by credit card companies. But look at what it looks like now. “It wasn’t our fault, but sales plummeted because of the credit card company.”
“hmm… .”
The two nodded as if they understood.
“I thought it couldn’t be like this. So I decided to try my hand at finance as well. Of course, HW Group and both American and Korean Miracle have the same opinion. Honestly, isn’t our Miracle’s specialty in finance? “I am confident that we will do well compared to anywhere else in Korea.”
Oh Se-hyun looked at the two people in turn and carefully laid out the requirements.
“If you go ahead, I want to get it done as quickly as possible.”
“Do you mean to hurry up?”
“yes. When I see the sales trend falling day by day, I get so angry that it’s hard to bear it. I would like to acquire Sunyang Card at least before the first half of this year. No, if it is difficult to purchase, other credit card companies are also okay. “I’m in no position to choose between cold and hot food.”
I didn’t insist on pure cruise for fear of getting a suspicious look. But now the target is cruiser cards.
A form of business that has no self-rescue measures, no efforts to improve, and does not care about customers at all. Since they seem to only believe in the name Sunyang and are being picky about it, the government may make an example of this.
“great. “We cannot give you any answers right now, but we will consult with the relevant departments and let you know our decision as soon as possible.”
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The chairman spoke with a smile and the first director quietly asked for what was needed.
“CEO Oh, could you prepare materials on Sunyang Card’s acquisition conditions and post-acquisition management policy?”
“of course.”
The Financial Services Commission’s true intentions were revealed.
To defeat it in an instant requires thorough preparation. Preparation to the point where there is no reason for anyone to object. The fact that they requested data from Oh Se-hyeon first means that they will check the parts that need to be corrected or strengthened.
“Please do it again. “I want to complete everything within the first half of the year.”
“It is difficult to give a definitive answer, but as I said, we will quickly complete a positive review.”
The meal ended with a smile on my face.
When the two members of the Financial Services Commission left first, Oh Se-hyeon let out a long sigh.
“Are you okay? What if I take over a credit card company that is full of insolvency?”
“It’s about looking far and starting. After a few years of hard work, things will get back to normal and you will be a good son. And they say my uncle covers the money I lose.”
“Unclefather? who? Vice President Vibrator?”
“no. “Vice President Jinyoung-ki.”
“what? “Why that guy?”
“Because I was blinded by the greed to secure shares. “I will pay a whopping 800 billion won and take the bonds for acquiring Sunyang Card.”
“mi… crazy… . “The money is rotting away.”
“It’s possible because it’s really rotten.”
Only then did Oh Se-hyeon tap his forehead as if he had solved all the puzzles.
“If you acquire the Sunyang Card before maturity and pay off the debt… ?”
“yes. “A large amount of 800 billion won is coming in for free, the credit card company is in our hands, and the shares are in our hands.”
“Did you plan it from the beginning?”
“It was true that it was planned, but the 800 billion won in free money was not in the plan.”
“I’m going crazy, hehe. “No matter how insolvent the credit card company is, if it receives 800 billion won in free money, isn’t it just swimming on its head?”
“There is no problem because the money needed to resume services right away is 400 billion won.”
“Well, this is 400 billion won as a bonus for seeing the forest and picking mulberries…” .”
“It’s still too early to like it. This is only possible if the government makes a decision. And I have to hand over the bonds to Vice Chairman Jin Young-ki tomorrow. “He said that if I don’t hand it over by tomorrow, he will regard me as a bastard seeking the position of Chairman of Sunyang Group and will not sit by and watch.”
“tomorrow? Then, if you can’t use the Cruiser Card… ? this!”
“It’s not like looking at a forest or picking mulberries, it’s about sandfish. “It ends with breaking even.”
Suddenly Oh Se-hyeon stood up.
“This is not the time to be like this. Let’s go, we have to first create the data we need to give to the Financial Services Commission.”
* * *
“yes. “It doesn’t make sense if you don’t do double the amount of business.”
Vice Chairman Jinyoung-ki welcomed me with a big smile.
“Honestly, I feel a bit sorry.”
“sorry? no. Okay. “It’s money exchanged between family members, so why are you sorry?”
“To my second uncle. “I should have told you first, but I couldn’t bring myself to bring it up.”
“done. It would be easier for me to talk than for you. “I won’t say anything uncomfortable.”
“yes.”
My uncle looked at my stiff expression and tapped my shoulder.
“I said it’s okay. Rather, let’s prepare the contract quickly.”
“There is a standard contract, I will prepare it and bring it to you by tomorrow morning. Attorney review… .”
“What about the review? Please make it quickly and come. “I’ll stamp it and deposit the money right away.”
“yes.”
When I left the vice president’s office, anxious thoughts did not leave my mind.
Since I met with people from the Financial Services Commission last night, I had to get a call from my grandfather in the morning at the latest. That’s normal.
Even though a new regime has come into power, civil servants remain the same. If they put the cruise card on the meeting agenda, someone will rush to Grandpa to report, ask for his opinion, and get permission.
I would also have reported that this plan came from my head, so my grandfather should find me.
But my cell phone doesn’t ring, so I feel very anxious. Could it be that he just can’t tolerate Sunyang’s affiliates going bankrupt?
It is better to eliminate any anxiety factors as quickly as possible. Before signing the contract to hand over the bonds.
I went straight from the vice president’s office to the parking lot.
* * *
“why? “Are you so nervous that I might disturb you?”
After all, you know everything.
“Are you okay?”
“what?”
“It leaves a stain on the name Sunyang.”
“Look at this guy. “You did everything and now you’re looking for me?”
“sorry. “I couldn’t tell you because things happened so suddenly.”
“You have to do something like this like frying beans in the heat of lightning. done.”
He said it as if it was no big deal, so I relaxed for an hour.
Then he glanced at his grandfather and said,
“Who contacted you?”
“The Blue House Senior Secretary for Economic Affairs called me as soon as the sun came up. They said it was a proposal from the Financial Services Commission Chairman. How many times have you said that you were the first to suggest it? He noticed it too. “This is a family fight.”
“It must have been uncomfortable for the Blue House to get involved in our family fight, right?”
“It’s a good deal for them too. I heard you said that? “This is a golden opportunity to criticize large corporations.”
“yes.”
“It’s only been two months since we took power. When you’re at the peak of your popularity, and the media is watching you with honeymoon and all, you probably want to show off your power. How happy would you be that you created that opportunity? “The timing was really good.”
It was a bit unclear whether it was a compliment or an evaluation, but his expression was still gentle.
“But Dojun.”
“yes.”
“Are you confident that you can revive this bankrupt credit card company?”
I see that you haven’t forgotten the most important question, so please correct it yet.
“What should I do if I don’t have confidence?”
“throw away.”
Hearing my grandfather’s clear answer makes me feel like I’m flying.
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