The Chaebeol’s Youngest Son Chapter 311

[311]Guerrilla warfare. One

On December 17, 2010, when a young fruit vendor set himself on fire in a square in a small town in Tunisia, no one knew that he would become the spark that brought down the dictators of Tunisia, Egypt, and Libya, and the regimes of Syria, Yemen, and Bahrain.

Upon hearing the news of the young man’s self-immolation, citizen protests spread like wildfire, and exactly 28 days later, Tunisia’s president went into exile in Saudi Arabia, ending 23 years of dictatorship. Now, the spirit of civil resistance will be expressed as Mexicans confront the horrors of drug cartels, Greeks march against irresponsible leaders, and Americans gather on Wall Street to protest income inequality.

2011 will start and end with protests, and even the Times will choose a protester as its person of the year, but the world will not change easily.

The Korean economy, which has been creaking since last year, has been leaking grim predictions through the media that its economic growth rate will fall below the global economic growth rate for the first time since industrialization.

The government was worried and the people were worried, but my concerns were elsewhere.

“There is no better tool for image management. It has a much greater impact than the media. Post one message per day. “I aim to have people look forward to my message every day.”

“At the level of a celebrity?”

“The quantitative goal is to be at the celebrity level, but the content must maintain dignity. In particular, ordinary people will ask me a lot about which stocks to invest in. That should be completely ignored.”

The full-fledged SNS era has begun. As far as payment, PI experts felt a little guilty about receiving too much salary compared to the work they do, but now the time has come to make it worth the money.

“As I said at the beginning, even if I become an economic criminal, I must ensure that public opinion supporting me prevails. Please keep that in mind.”

Celebrities and politicians are jobs in the same category. Now is the time when businessmen also fall into that category.

An era where camera reporters flock around and every word has an impact on society. It is no longer easy to become a chaebol.

“Are you a celebrity? “Why is this guy’s showmanship so grandiose?”

Chairman Hakjae Lee smiled and said while receiving New Year’s greetings.

“It’s worth a show. “You saved 30 trillion won, right?”

“Do you do shows like that in your family?”

“yes?”

“Didn’t you say New Year’s greetings to the adults in your family? Didn’t you put on a show because you were imitating the youngest member of a decent family?”

“Instead of being a steady maknae, I changed into a scary maknae. Everyone is just looking at me. Of course, I couldn’t even meet my first uncle’s family.”

My aunt, who is over 60 years old, doesn’t want to be retired, so she shows off to me that she is still young. The aunt’s three sons wanted to take charge of the hotel and showed all their fawning like never before.

The second uncle, Jin Jong-gi, pretended to be aloof, but he still showed interest in the group’s internal affairs, and Jin Tae-jun treated me as if he were his boss, to the point of embarrassment.

It was clear that my third uncle, who had been looked down on forever, had turned the steering wheel. He especially stayed by his father’s side and supported his younger brother.

The reason was that his only son, Jin Kang-jun, whose leg I broke when I was young, wanted to go into the entertainment business.

“It’s no different from a wealthy family or an ordinary family to be fooled by a powerful and wealthy relative.”

Chairman Hakjae Lee shook his head.

“Shall we stop asking how you are and get to work?”

He tossed a folder.

“This is a summary of things you need to know about this year’s business. Please review and let me know what you think.”

“If the Chairman approves it, let’s just proceed.”

“I’ve only sorted out the things that are a bit vague for me to approve, so check it out. And this is Vice Chairman Jin Young-ki’s stock holdings and asset list at the end of last year. “You can think of it as having cleaned out everything that’s personal.”

I’m more interested in this than business.

I looked at the documents he handed me carefully for a while.

I had some idea of ​​the route the property was moving through, but I saw something unexpected.

“You established a foundation?”

“Yes, it was made as a surprise attack at the end of last year. It can be said that all of Vice Chairman Jin Young-ki’s personal assets went there. The foundation chairman… .”

“I’m passing it on to my second son, Gyeongjun, in this way.”

“It’s so blatant. Usually, I put on a show like you and do something like giving back to society, but this time I did it completely in secret. “Not a single article was published.”

“What does this mean, you are not going to pay gift tax?”

“There is something more. Most of the real estate went to the foundation, but only 70 billion won in cash. Just from what I know, he must have more than 300 billion won in cash… .”

This is proof that my uncle was very scared.

Either it was left as a reserve fund or it was not handed over to the foundation to secure shares.

If you purchase stocks with the foundation’s money, it is no different from owning them with your second son.

“Do you think Gyeongjun will grind his teeth again?”

“The more angry he gets, the better it is for you. “Hehe.”

“Infighting is always welcome. “Then all that remains is to move the affiliated stocks.”

“okay. “I’m going to have a bit of a headache.”

“There is no perfect governance structure, right?”

“okay. If the solid support of the so-called friendly interests were to fall even a little, wouldn’t it be heartbreaking?”

“Do you have any expected response plans?”

“Because Electronics and C&T are too big, we won’t be able to do anything, so we will have to play around with affiliates that have shares in the two main companies.”

“Are you saying that by further strengthening the governance structure of the affiliates, I am protecting them from being destroyed individually?”

“okay. “I guess that’s all until we find a breakthrough, right?”

What is the level of talent gathered around Vice Chairman Jin Young-ki? What plan will they come up with to defend the castle and protect their master?

“President. Shall we take a peek before the succession process is over? As a New Year’s gift. Let’s see what kind of countermeasures they come up with… ? If you poke it hard, it will bleed, and you can tell the difference between those who ignore the blood and those who wipe it away.

We must first attack those who wear the mask of friendly interests and ignore us. They are friendly interests and friends of those who benefit them.

“Stab?”

“yes. “We’re going to have the Black Knight appear and check their power.”

“The black knight… . who? Miracle?”

“yes. Since he also owns a stake in Sunyang Group, he is fully qualified. Instead, I plan to feature the American Miracle.”

“Headquarters?”

“yes. Isn’t Rachel quite well-known and friendly in Korea? “She said she was thinking of retiring soon, so she should do something exciting and let her go.”

Chairman Lee counted his fingers and clicked his tongue.

“No, how old are you so you can already retire? “Is this over fifty?”

“That bottom is retiring quickly. And Rachel has less aggressive tendencies, so this is how she lasts a long time. “I heard she’s already bought a winery in Napa Valley and is getting ready to go.”

When hearing the word winery, Chairman Lee seemed envious.

“Damn, should I go down to the countryside and make makgeolli and make a living?”

“If you were born a carnivore, would you turn into a herbivore? If you want, I’ll prepare a drink for you, so you can come and go like a weekend farm. Don’t just dream of living in the countryside. Someone who is so bored that they can’t stand it even for a day… . “Hehe.”

Herbivores live in the countryside and carnivores live in the city.

This is a modern jungle.

＊＊＊

“They say they like it when I threaten them again.”

Rachel Arief, who came to Korea without much surprise despite the sudden contact, smiled with sparkling eyes. She looks like she found it very fun to play.

“Well, it’s not a joke. Appropriate boundaries must be maintained. If you make a mistake, even the government can intervene. That’s why Sunyang Electronics is a company that represents Korea.”

“This is an important company that even the government has to intervene in, so why is your family controlling it? “With less than a handful of shares.”

I had no intention of discussing business ethics with her, who could not possibly understand that Korean stock companies were not normal stock companies where managers did their best for the interests of shareholders, but where managers ignored shareholders for their own interests.

“Thanks to you, I can take control of Sunyang Group. “Isn’t it enough to set moral standards in America?”

She shrugged and said no more.

“So are you going to publicly announce aggressive M&A?”

“no. M&A is impossible right now anyway. So, it’s slowly leaking through unofficial lines.”

“If it’s an unofficial line, what about the media?”

“yes. If it were Rachel, all the major media outlets in Korea would be lining up to interview her. And in that interview, you can tell us what you think about Rachel’s company.”

She immediately looked disappointed.

“what? “That’s a threat?”

“You know. “Because it is the Korean conglomerates that stand on the other side of what Rachel thinks are normal and desirable companies.”

“This is just an accusation.”

“When criticizing, you can use the pure positive electron as an example. “Then, the reporter’s speculations and imagination will add up, and before you know it, the criticism will turn into a threat.”

Rachel, realizing the overall trend, smiled and said.

“You must be very difficult to deal with. “It’s a subtle bullying style.”

“That means our families are having a hard time. “It’s too difficult to hit it all at once.”

It was difficult to tell what she was thinking just by looking at me. But one thing was conveyed for sure.

Although he has achieved the status of the world’s richest person, which others envy, he feels sorry for the days when he struggles to get what he wants. She knows full well that living comfortably is something you’re born with.

＊＊＊

“Can you tell me the purpose of your visit to Korea this time?”

“Nothing special. “This is part of our routine work to inspect the management performance of HW Group, of which Korea Miracle is the majority shareholder.”

The reporters gathered at the joint press conference constantly asked questions to get even a single scoop from her, who was moving a huge amount of money.

“Miracle seems to have a special affection for Korea. “This can be seen from the emergency support of $10 billion when foreign currency reserves were insufficient, to the active acquisition of Korean companies.”

Rachel’s eyes lit up at this question.

“This is because the foundation of Korean companies is very weak. Because of this, the company’s value is undervalued. Therefore, it easily collapses from external shocks.”

“Can you tell me exactly what you mean?”

“It is exactly what I said. This means that there are many opportunities to acquire good companies at a low price.”

“What is the basis for the evaluation that it is undervalued?”

Rachel smiled as she watched the reporter peppering her with essential questions. She thought that she was probably a reporter planted by Jin Do-jun.

“For example, Sunyang Electronics, I saw the news a few days ago that its stock price exceeded $1,000. However, about a dozen American companies, which account for about 30% of Sunyang Electronics, have already exceeded $1,000 a long time ago. Shunyang Electronics’ stock price should be at least double its current level. Of course, prerequisites are needed.”

pure positive and double.

This word has become fodder for reporters.

“In order to have normal corporate value recognized, management transparency and shareholder rights must be guaranteed. “It is difficult to deny that the current Korean conglomerates have a strangely irregular governance structure.”

The reporters racked their brains over what questions to ask to bring out more shocking remarks.

“Are you willing to acquire Sunyang Electronics?”

The reporter immediately asked a question as if he had been waiting.

Rachel took a moment to catch her breath and then grabbed the microphone.

“Great companies are always on the M&A list. Pure Yang Electronics can’t be an exception, right?”

Rachel ended the interview, wondering if this was the answer Jin Do-jun wanted.

—————————

fantasy, modern,