[277]Bow your head 2
Unlike neighboring Middle Eastern countries, Dubai, which has almost no oil resources, has developed early on as a logistics hub in the Middle East.
In the 2000s, Dubai’s development, which relied on large-scale foreign capital borrowing and large-scale civil engineering projects, became a symbol of rapid growth.
In July 2006, Dubai, an autonomous government within the United Arab Emirates (UAE), felt the need for a company to undertake this huge reconstruction project and established Dubai World.
DubaiWorld, a state-owned enterprise, is a company that directs and leads this tremendous development. Dubai World is the world’s largest artificial island, ‘Palm Jumeirah’, construction of the Palm Jebel Ali Bridge, and ‘Burj Al Arab’, known as a 7-star hotel. Starting with, the Dubai World Central plan was announced.
Dubai World Central plans to literally create the world’s center city by constructing Dubai Al Maktoum International Airport and several facilities around the airport. Once construction is completed, it is expected to handle 160 million passengers and 12 million tons of cargo per year.
In addition, it was announced that $2.6 billion would be invested in logistics facilities in the Jebel Ali Free Trade Zone, a huge urban redevelopment project would be carried out, and a city of world-class skyscrapers comparable to New York would be created.
The confirmed amount has reached $30 billion, and it is unknown how much more money will flow in the future… No, the land of oil is attracting companies from all over the world.
Lee Hak-jae’s suggestion to go to such a place holding hands together was a welcome vibrator.
“I understand that Sunyang Construction, Civil Engineering, and C&T are currently pouring a lot of resources into the construction of ‘Burj Dubai’… ?”
Burj Dubai, which began construction in 2004, is a symbol of Dubai’s skyscrapers. Including the spire, it will be 829.8 m tall, 828 m tall, and 163 stories tall. When completed, it will be the tallest building ever created by humans.
Lee Hak-jae’s words stung, but he spoke with an unchanging expression.
“Only a large number of hard-working workers have been deployed, but there is plenty of room for key personnel.”
If we can bring in the lacking manpower, resources, and money from the HW group, we can move with much greater ease. However, if you show weakness, you never know what tricks the cunning Hakjae Lee will use.
Always appearing relaxed is the most important thing in negotiations.
“Then I’m glad. Anyway, I hope you take my offer seriously.”
“What size do you think the president is? airplane? New city? Or logistics?”
“Isn’t the more the better? “If I can eat everything on a turnkey basis, that would be great.”
When an obvious story came out of Lee Hak-jae’s mouth, Vibrator frowned.
“For someone who knows everything to say such vague things?”
“You can have as much money as you want. Behind us, we have a strong financial holder called Miracle, and HW Group’s in-house reserves are also considerable. As I already said, we lack experience and our technical skills are a bit lacking. “Isn’t a consortium supposed to make up for each other’s shortcomings?”
At this point, Hakjae Lee presented an option.
“I’m making this proposal out of consideration for our old feelings, but if you don’t feel like it, tell me now.”
If we only look at objective facts, we need to join hands right away. You should avoid people who ask you to lend them money because they have a good business plan, but no businessman would turn down someone who wants to partner with him with a lot of money.
However, considering the old sentiment, it is normal not to suggest it. Sunyang Group may have good memories, but Sunyang’s two vice presidents will only have bad memories.
What is interest aiming for?
Chairman Hakjae Lee let out a wry smile as he looked at the vibrator scanning him.
“If you don’t feel like it, just pretend you didn’t hear it.”
“Don’t you know that this is not a matter to be decided all at once?
“I know, but our vice president’s expression doesn’t look welcoming.”
“Who likes to share?”
“There is so much food that I can’t eat it all by myself, so if I don’t share, I might just have to look. anyway… Think carefully and let me know quickly. “I can’t just wait forever.”
“If I refuse, of course you will join hands with someone else, right?”
“Of course, this proposal actually came from Daehyun first. “You may have heard somewhere that I was preparing a flag to gather companies that were lower in ranking, such as Seongho Group and Namkwang Group.”
I know both vibrators are bullshit. Just change the future tense to the past tense.
He was indicating that he would move in that way if Sunyang refused.
“Positive review, we will finish it quickly and contact you right away. President. Still, isn’t Sunyang Group Chairman Lee’s family? “It would be best to see us together.”
“Is it okay to just look good? We also need to take care of each other’s practicality. “Then let’s end the conversation here and have dinner.”
The atmosphere was good as we ate the rest of our meal. However, Vibrator kept getting the feeling that Lee Hak-jae’s proposal might be a trap.
A mousetrap filled with savory cheese.
However, the shape of the mousetrap was not drawn, and only the fragrant scent of cheese was clear.
* * *
“I will not accept any unreasonable requests. “Uncle.”
“Why is this unreasonable? “Isn’t that reasonable?”
“It is not a question of reasonableness and unfairness. “It is beyond my authority.”
Is it a characteristic of men that they become more shameless as they age? Or is it a characteristic of the men in our family?
The second uncle suggests that Miracle’s funds to be invested in HW Group for special purposes in Dubai should be redirected to Sunyang.
It’s clear that he doesn’t know that I know that he met Chairman Lee Hak-jae, but I never thought he would cut in line like this.
“Wouldn’t Miracle be at a loss too? Is this nothing more than a cushion for HW Group? “The main project is our cruise ship?”
“I know, uncle. However, Korea Miracle now makes decisions at the board of directors and moves with final approval from the United States. They say it was a decision made by the U.S. when CEO Se-Hyun Oh was on the verge of retirement. I cannot even attend the board of directors of Korea Miracle. “My role is to be a judge.”
“I think I have more decision-making power than that.”
“Yes, there is more. A judge with a strong say. “That’s it.”
I hammered my nails at him who looked suspicious.
“And the majority shareholder of HW is Miracle. “Why are you taking care of Sunyang instead of taking care of your own family?”
“okay? this… . “I had high expectations for a while.”
His expression changed, but he didn’t look disappointed.
“Then how about doing it this way?”
This was it. The real purpose of my second uncle’s betrayal of me will now be revealed.
“As you know, the construction of Dubai’s new city requires a huge investment of funds up front. The consortium proposed by Chairman Lee Hak-jae is said to provide funding. HW, the old Daeah Construction was useless for such large-scale construction. “It’s a ploy to give us some money and steal our know-how.”
Even though I was wrong for a long time, I nodded my head in agreement and listened.
“You can get money anywhere. But I don’t think there is any reason to bring in external funds.”
“Yes. “All we have to do is use the group’s funds and raise the shortfall.”
“But now the heavy industry sector has already poured money into the Middle East. I don’t have enough funds. “The remaining areas are electronics and finance.”
Is it true?
Have funds for the main construction and heavy industry industries really dried up?
“It’s a bit awkward to raise electronic funds… . In terms of finance, how about you prepare the money? “There is no need to involve HW.”
You must answer well. I still don’t know if they really want to do it with the group’s internal funds, or if they are just checking to see if I was the reason Chairman Hak-jae Lee approached them in the first place.
In cases like this, the priority is to let them know that it has nothing to do with me.
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“I don’t have any spare funds either.”
The answer is short. Long explanations tend to sound like excuses or lies.
The second uncle has an expression of disbelief.
“Financial companies have no money? “Do you not want to do business with me?”
“no. Really. I have been investing all my spare money in American derivatives since two years ago. If you are in doubt, you can check it yourself.”
“Derivatives?”
“It is a stable investment that consistently generates profits more than twice the market interest rate of 4%.”
“All in rather than diversified?”
“yes. Dispersing is the norm, but there is no choice. This is because I only select triple A rated investment products. “It’s company money, so safety comes first.”
“Isn’t it great to have double the interest rate and triple A rating?”
What is this again?
Anyway, when it comes to making money, people’s eyes change.
“That’s right. Why would I spend all of the company’s surplus funds?”
If he couldn’t use the group’s funds, would my uncle choose Chairman Lee Hak-jae? Or should we be less greedy and proceed only to the extent of our ability?
If you choose the easy way, it is not a funeral business.
No matter what anyone says, isn’t Vice Chairman Vibrator a businessman?
* * *
“Take a look at this. “This is a joint venture proposal submitted by Vibrator.”
Chairman Lee Hak-jae seemed a little angry. After looking at the proposal, I read that he thinks HW is a complete idiot.
“Spend money and get some profit, that’s what I’m saying.”
“It was also a little more than the bank interest.”
“Not if you don’t like nuance. “Is this exactly it?”
“therefore. It’s probably not a position to take your time… . “You’re saying you don’t want to run into me, Won.”
“It’s like pounding on a stone bridge.”
“check? me?”
“yes. I am thinking on the premise that there is no way the Chairman would approach me with good intentions. “It’s clear that something is there, but you don’t know it, so you might feel anxious.”
Chairman Hakjae Lee shook his head slightly.
“It was wrong for HW and Sunyang Construction to join hands. “This guy, don’t bite.”
Then you have to make them bite.
“I guess the bait is weak. “Let’s throw something big.”
“what? “You say you don’t like money?”
“But I would hate it even more if someone else made money.”
“What do you mean? “Be exact.”
I haven’t yet noticed the meaning of the smile on my face.
“Wouldn’t you bite into it for about 300 billion won?”
I can see the irritation on his face as he continues to say things I don’t understand. He spoke quickly before he got angry.
“Why don’t you go in alone, thinking you’ll lose 300 billion won? Again, I’m not pretending to go in, I’m really going in. I can’t get paid for the construction anyway. No, you may get it, but it will remain as a bad debt for a very long time. “But if we go in alone, you’ll think it’s sincere.”
I wouldn’t be surprised if they threw away 300 billion won.
It’s really convenient in times like this that all you have is money. This is because you can freely use means that can change the situation at any time.
It may seem crazy to others, but that is the privilege and power of those with money.
“Let’s use a bigger bait.”
Chairman Hakjae Lee said with a smile.
“There is a rumor that I have already thrown out, but if I make it true, the stakes become bigger. Bring in Seongho Group and Namkwang Group. Each paid 300 billion won… . No, if you just hit 1 trillion won and go to Dubai, the Vice Chairman of Vibrator will also be there! “You’d say it’s hot?”
If three big guys come together and attack the banquet table, you’ll want to rush over and take over as leader. Since Chairman Lee Hak-jae is not alone, doubts will disappear… .
I wanted to hit my knee.
Our president, Hakjae, is also a player.
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