[285] Pandemonium, pure family 1
“Did you have a good time in America?”
“yes.”
“It’s been quite a while, right? “Did this have anything to do with the U.S. stock market crash?”
“That’s right. “Oh, it’s not because of me that the U.S. stock market crashed.”
“You’re not that influential. On the subject of the prince of the frontier. “Hehe.”
Chairman Lee Hak-jae’s expression was not as bright as he spoke with a smile. Is something going on?
“The Korean stock market is also a mess, so if there’s anything I need to know, tell me. “Don’t hold me responsible for my mistakes later.”
“There will be a problem with liquidity, but I will make sure that is not a problem.”
“If a person running a business has a reliable supplier who can solve his financial problems, the game is over. “Then you’ll stop caring?”
“yes. By the way, what’s going on? “Why is your expression so dark?”
Chairman Hakjae Lee got up from his desk and sat down on the sofa next to me.
“I think Vice Chairman Jin Young-ki will cause a major accident. No, I’m sure.”
When I heard that it was a major accident, I started to sigh. What else are they planning?
“Are you running a holding company or something? “It will be difficult unless the joint voting rights of me and Vice Chairman Jin Jin-gi are raised, right?”
“no. “This time it’s a succession task.”
“yes? Succession?”
Chairman Hakjae Lee nodded.
“I heard that you have begun the process of passing on your shares to your son. “The group’s planning office is working in secret.”
“yes? To Youngjun hyung?”
“okay. You know that passing on a stake is different from passing on a house. It’s not too early since we have to prepare slowly for a very long time. “Youngjun is already 40 years old.”
It’s been so long since I haven’t seen it that I completely forgot about it. That guy is already 40 years old.
“I suddenly can’t make up my mind. “My uncle’s shares are moving anyway, so I don’t think it will be a variable, is that right?”
Chairman Lee Hak-jae also cannot give an easy answer. This means that it is a complex problem.
“Let’s think about it this way. “What if Jin Young-jun establishes a corporation like you did with Miracle, and Vice Chairman Jin Young-ki sells a portion of his shares to the company?”
“The shares being sold are shares of an unlisted company, right?”
“yes. But that unlisted company probably holds a large stake in Sunyang Group, right?”
“Then the value of the newly established corporation will skyrocket.”
“okay. The problem is that even if Jinyoung-ki only owns 51% of the shares, he still controls the group. Even if you push a lot of work to the newly established corporation or just eat a cushion in the middle, the performance will skyrocket… .”
“If you list that corporation, you get a huge amount of money again. “You just have to put 49% into the stock market.”
In this way, the number of companies that only hold shares increases and makes money. By taking advantage of Sunyang Group, which makes money directly, numerous companies with unclear identities are created that simply hold shares.
“With the money I earn, I will definitely start the second phase of my strategy. “Because that’s the method I used.”
The second stage involves issuing convertible bonds and allocating bonds with warrants at a low price.
“Is there any possibility that their stake will increase?”
“It’s difficult to say for sure. It would be possible to leave only the shell of a very low-level affiliate and take out the substance. “Because those affiliates are quite outside the influence of the controlling stake.”
It was an unsure tone.
“I guess that’s not all?”
“Actually, I don’t know. If a very smart guy finds a loophole, he might use a new method. It’s been a long time since I left that part. The law must have changed a lot… . In times like these, one bright idea can become a very big variable.”
Many thoughts came and went.
It might be better for Jin Young-jun to own a stake. Jin Young-jun is an easier opponent than his father. As a person from a wealthy family goes down through the generations, he becomes more bitter and less patient. Because he was raised like that from a young age.
However, as Chairman Hak-jae Lee said, if something unexpected happens, it would also be a disaster.
Should I block it?
“President. “When you can’t predict what will happen, wouldn’t it be better to stop it at the beginning rather than just sit back and watch it unfold?”
“Are you trying to block the succession process? how?”
I smiled at Chairman Lee Hak-jae, who looked at me with surprised eyes.
“President. “Could you please do this one last time for me to appear at the prosecutor’s office?”
“what?”
“This time for different reasons than in the past. He must be a witness, not a suspect. It’s not that I don’t remember or I don’t know, but I’m just saying in detail what I remember. “As a reference.”
“What on earth are you talking about?”
I think the word “prosecution office” will cause a stir. He quickly waved his hand to calm him down.
“It’s like paying overdue taxes, right? “What kind of expression would Vice Chairman Jin Young-ki make if he had to pay taxes according to the law on the legacy his grandfather gave him?”
“You sure?”
Chairman Hakjae Lee has already read my thoughts.
“I am thinking of reaching a reasonable agreement with the National Tax Service. However, since Vice Chairman Jin Young-ki has gone through two succession processes, his taxes will be double, right? Of course, if you struggle not to pay taxes, your dirty parts will continue to be revealed… .”
“Then you too may have to pay hundreds of billions in taxes.”
“It’s always been like that, hasn’t it? If there’s a problem, they hold a press conference to apologize, and instead of fines, they throw in tens of billions of won, saying it’s giving back to society. Wouldn’t it be more impactful if I said I would pay all my taxes instead? “I’m thinking of giving him about 500 billion won.”
Even if it is the same amount of money, it is better to donate in the name of giving back to society than to pay taxes.
Taxes set a precedent and become an obstacle to future succession efforts. Also, compared to the succession work of other conglomerates, there is constant controversy over tax issues.
It should remain a precedent that conglomerates do not pay gift tax or inheritance tax.
“so? “What do you get?”
“I get so much out of it. First of all, cheers from the public.”
“What are you going to do by getting something like that? Do you want to become the first third-generation chaebol celebrity?”
“It can’t be. Public cheer puts pressure on politics. “When you put pressure on politics, public officials move.”
Chairman Hakjae Lee burst into laughter.
“The National Tax Service will have no choice but to move. “Hehe.”
“This is also a question of timing. I will hold a press conference at the most appropriate time. “It will demonstrate the citizen’s duty to voluntarily pay taxes.”
“That timing refers to when Sunyang Group’s financial resources dried up, right?”
“yes. There isn’t much left. “If the U.S. financial system collapses, there will be a drought in Sunyang.”
——————
faqwiki.us
Join our Discord for new chapter updates!
https://discord.com/invite/xr7SxG5T6V
——————
* * *
Those who handle money are not only shameless but also terrible villains. On the contrary, the general public is stupidly naive.
It was like that 10 years ago, even during the IMF, and we are still being deceived. In the United States, $5 trillion was evaporating due to the subprime mortgage loan crisis, and tents for homeless people were increasing in New York’s Central Park, but Korea’s KOSPI index exceeded 2,000, breaking an all-time high.
This shows that the Korean economy is going smoothly until investment and financial companies pass the bomb on to the general public. The media and politicians spoke in the same voice and sold out expired securities to naive people.
Moreover, since Korea was about to hold a presidential election, there was no better way to hide the financial crisis originating in the United States.
It was also the common people who staunchly believed in the candidate who was shouting that he would revive the economy of the common people, which had never been good.
The candidate who made no mention of the U.S. financial crisis and promised 7% economic growth and the creation of 3 million jobs was elected president with overwhelming votes from ordinary people.
In January 2008, before the president was even inaugurated, the price of crude oil (WTI) on the New York Mercantile Exchange exceeded $100 per barrel for the first time, and prices began to soar, but the news was dominated by the Sungnyemun Arson incident.
“I abide by the Constitution, defend the country… Even before the presidential inauguration oath was completed, the U.S. dollar also plummeted.
Korea began to feel the financial crisis originating in the United States when the bankruptcy of Bear Stearns, the 5th largest investment bank in the United States, began to become known.
The ones who acquired information quickly were the rich.
Jin Tae-jun, who ran into my room, was shaking all the way to his fingertips, but feigned calm.
“Are you having a hard time these days? “I need to help you in times like this, but there’s not much I can do, right?”
“I’m really going to turn around. It’s been a long time since I gave up without being able to do anything. You know? “Pure investment and securities have declined significantly.”
“I heard a rumor. “I heard all the employees used up all their vacation days?”
“huh. What do you do when you work? “If you touch it, it will plummet.”
“Still, the grades weren’t that bad compared to other groups, right? “Losses were small, and the stock price was well defended.”
“Ironic, isn’t it? I thought I would get there if I just stayed still, so I started playing in the third quarter of last year. But it is number one in the industry. It’s not because I’m good at it, but because other people aren’t good at it. haha.”
Taejun Jin listens to my laughter and continues to look at me.
“But Taejun, do you have something to say to me? “Your expression doesn’t look that good?”
He swallowed dry saliva and opened his mouth with difficulty.
“Actually, I have some investments, but that’s the problem.”
Vice President Do-Hyung Jang reported that when funds poured in in September last year, Tae-Jun Jin took out quite a lot of it. Of course, it is nagging to say that I suffered a huge loss.
“What investment? Surely it’s not a financial derivative? no… . wait for a sec.”
When I picked up the receiver, Taejun Jin’s eyes widened.
“Where are you calling?”
“President of Sunyang Investment. Let’s take a look at my brother’s transaction history… .”
“Do, Dojun. hang up “I don’t know anything there.”
Well then. Now the real thing comes out.
“huh? Did you use a company other than Sunyang?”
“That’s not it… . Distributed to several places. I sold everything I had entrusted to Sunyang. But around October of last year, the stock price went up, so I invested again. Sunyang had a negative opinion, so we traded with another company.”
After selling at a loss, the stock price rose. I’m so desperate to get my money back that I hit the ground and regret it, so I do it again. Typical.
Taejun, who was a diligent brother, discovered the taste of gambling. Did you say that gambling gets more exciting when you lose?
“Nowadays, there is no one who would buy it even if they paid the price of shit, let alone the full amount, right?”
Jin Taejun nodded his head weakly.
How much money was lost and where did it come from?
Since he came to me even though he knew I couldn’t trust him, he must have tampered with the company’s funds.
It needs to be filled urgently, but there is no hole for money to come out of, so I came here feeling like I was grasping at straws.
“Taejun hyung. I know it’s urgent, but there’s nothing I can do about it. All financial products and funds now are trash. Think of selling scrap metal and dispose of it quickly. “Afterwards, I can’t even get the price of scrap metal.”
“know. “I don’t plan on passing that on to you either.”
“then?”
“Lend me some funds. “Not from company to company, but from person to person.”
I quickly shook my head. Is there anything I can get from this guy by lending him money?
If you leave it alone, it will be revealed that you tampered with the company’s money, and there will be an uproar again… .
“Why don’t you use the bank? “I don’t know how much, but it’s a bit like dealing with money in private.”
“Will the bank lend me money now? “It doesn’t even work because we’re all trying to put out the fire at our feet.”
His complexion became increasingly darker.
“How much is it? “Did you hit billions?”
Since I can’t say it easily, it’s tens of billions.
“say. “Then we can find a way.”
“What is urgent is 60 billion. “That’s enough.”
60 billion is urgent? Man, the company’s money alone is 60 billion won.
Of course I should lend it to you. To take down Sunyang Construction, 60 billion is equivalent to a grenade.
The more bombs, the better.
—————————————
fantasy, modern,
