[055]Win-Win 2.
“Oh my, that damn maverick and stubborn. “It doesn’t change even as I get older.”
Chairman Jin clicked his tongue and held out a bowl of makgeolli, and Song Hyeon-chang poured the drink with both hands.
“Did you ask to meet with me with the intention of lending me money?”
“Where do I get my money? I spent all my money on buying rebar. “I’m broke.”
“Oh my, I guess I have to pay for the drinks today.”
“Wouldn’t it be better for me, who is broke but not in debt, to be better off than someone who is suffering from debt? “I’ll pay today.”
After exchanging jokes for a while, Chairman Jin got to the point first.
“Bankruptcy will be inevitable. “I looked around and the prevailing opinion was that they would sort it out before the presidential election.”
“Daehyun Group, it’s truly amazing. How strong is Daehyun’s net… “I couldn’t find a single hole.”
Chairman Song was constantly frustrated, wondering if there was any large company that was not involved in political relations. He was of no help except to confirm how weak the rope the Ajin group was holding was.
“You worked hard, okay?” Chairman Song, everyone you met used Daehyun’s money to buy houses and educate their children. But my net is a little tighter. “It’s tougher.”
It’s a statement that hints at something. Chairman Song Hyeon-chang’s eyes changed.
“Say what you want to say.”
“I’m going to get rich anyway… “How about getting hit on quickly and starting fresh?”
The meaning of a new beginning is not what ordinary people think. This refers to the expedient method of paying off debt all at once, not the sincerity of paying off debt step by step.
Song Hyeon-chang’s head was busy.
“Chairman Daehyun Joo must have already drawn a rough sketch, right? Receive some debt relief, liquidate several Ajin Group affiliates… “The plan is to burn most of the current stocks and then invest Daehyun funds to buy Ajin.”
“Are you talking about your experience? “You know very well.”
“Because it was a plan I made myself six years ago. “Chairman Daehyun Joo is now putting the plan from six years ago into practice.”
“That plan failed, didn’t it? “You can rest assured.”
“You can’t be lucky twice. This time, there are only bankruptcies of large corporations, and there is no corruption that can shake up the government. “There are more success factors.”
“The chairman calculates the price of makgeolli. “It’s a bit unfair to try to calculate the debt I’ll be sitting on.”
I had already given up to some extent, but I felt even more devastated when Chairman Jin spoke as if it was a fait accompli. However, Chairman Jin’s next words opened my eyes.
“Chairman Song calculate it. “I will allow you to continue as chairman.”
I’m not the type of person to talk nonsense for comfort. He is a man who has the power to shake up the business world with every word that comes out of his mouth.
“It was the chairman who said he was broke.”
“Is my money the only money? “Money has no name tag.”
Chairman Song Hyeon-chang looked at Chairman Jin for a moment and shouted towards the kitchen.
“Okcheon’s house! “Here, give me some green onion pancakes and some more makgeolli.”
When the lady at the green onion pancake place left the makgeolli and green onion pancakes on the table and walked away, Chairman Song threw the alcohol in Chairman Jin’s makgeolli bowl on the floor.
“Please get a new glass.”
Chairman Jin chuckled and held out a bowl of makgeolli.
“Do you have a way?”
“Just go bankrupt.”
Chairman Song bit his lip, but wanted to hear about the situation after the bankruptcy.
“And?”
“Chairman Joo Young-il has already done his part, so the creditors will whisper that they will save him if he comes up with a self-rescue plan. Cooperate actively. Organize all but 8. “I will look into places that can be sold.”
“And?”
“The takeover war will begin.”
“Daehyun is probably the only company that has submitted a letter of intent for acquisition.”
“I will put conditions on that letter of intent to take over. Debt forgiveness. Stock Burn or Potato.”
“I guess so.”
“Is there anything bad? “Chairman Song, the fact that you are paying for the excessive debt with national taxes and reducing stocks means that the stocks held by the ants and labor union are decreasing.”
So far so good.
You can change your constitution by cutting out moldy areas and receiving nutritional injections. With the people’s taxes!
“And you’re telling me to hand it over to Daehyun?”
Chairman Song’s lips trembled as he asked the question.
“Daehyun could eat it, or an unexpected third party could eat it.”
“Are those three people actually Sunyang?”
“I told you. I’m broke. There’s someone who will cut in line. You know that too, right? “It’s called Miracle Investment, and it’s foreign capital.”
“Miracle? Could it be that the person who showed out his business card during the bidding process for Handa Steel… ?“
“Yes, that’s the place.”
Chairman Jin lifted his glass of makgeolli and drank it down.
“Please don’t make any strange misunderstandings. It’s a place that has absolutely nothing to do with me. It was a complete investment in the U.S., and the owner there was studying abroad with my youngest son. So he just asked me to deliver it.”
Song Hyeon-chang shook his head slightly.
“Chairman, are you saying that you are a messenger who conveys other people’s words? Who said that… .”
“Believe me. “Because I’m also desperate to save my car.”
“yes?”
“If Daehyun Motors acquires Ajin Motors, Sunyang Motors will have to withdraw. “Because it’s obvious that we’ll be crushed to death.”
Song Hyeon-chang still had a doubtful expression.
“Check it. It’s been almost 10 years since Miracle Investment was founded. It doesn’t make sense that I anticipated this situation and prepared from then on, and is there really a need to put others first? “If you have the money, isn’t it normal to jump directly into the takeover battle?”
“great. “Then what does this place called Miracle want?”
“What do those who play with money want? “You take Ajin for a small amount of money, raise it properly, and sell it at a high price.”
“Are you saying they are guaranteeing my position as chairman?”
“Because there is no one who can manage it anyway.”
Song Hyeon-chang took a refreshing drink of a bowl of makgeolli.
“It won’t be that long.”
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“Because salaried bosses have to retire at a certain age. Even a president lasts only five years.”
“Does this mean that I am also guaranteed for 5 years?”
“maybe.”
“Five years from now, when the company is normalized and Maracle sells its stock, the chairman may take over.”
“Oh my, how long do I live? 5 years from now? “I’m not interested.”
Chairman Jin put a piece of green onion pancake in his mouth and put down his chopsticks.
“Miracle already owns some stocks. We will convene an extraordinary general meeting of shareholders. “If we accept their proposal, the shareholders’ meeting can proceed smoothly, right?”
I got up from my seat, having said everything I wanted to say.
“Chairman Song. “Can I just say one more thing?”
“Please speak.”
Chairman Song Hyeon-chang also stood up from his awkward position.
“This makgeolli is not good. The green onion pancake was okay. “I enjoyed it because I ate it when I was hungry after finishing the hike.”
At that moment, Chairman Song’s eyes sparkled.
“Yes. “When you’re hungry, anything tastes good.”
“I know. haha.”
It’s already been answered. The party involved, Chairman Song Hyeon-chang, probably feels best that now is not the time to choose between hot and cold dishes.
“Daehyun’s large-scale offensive will begin. I will turn you into an incompetent, greedy old man, and I will summon you. “They’re going to put pressure on the prosecution to set up a photo booth in front of the prosecutor’s office, right?”
“Are you part of the plan the Chairman made?”
“If you go bankrupt after incurring public outrage, there is no room for sympathy, right? “At this time, if Daehyun, disguised as an expert, appears like a savior, there will be no opposition.”
Chairman Jin smiled and nodded.
“I will stop the prosecution, so don’t worry… . However, some articles will come out.”
This is because if Song Hyeon-chang’s personal image deteriorates, it will interfere with his grandson’s plan to keep him as chairman, and he is by no means showing favor to Chairman Son out of concern.
Song Hyeon-chang lightly nodded his head and opened his mouth.
“Please stop making demands for an extraordinary general meeting of shareholders. There is no need to be on guard in Daehyeon. Aren’t you planning to demand an audit at the general shareholders’ meeting? We will open up the inside of the company so that there is no need for that. Tell them to see as much as they need and win the bid.”
“Of course. haha.”
Chairman Jin left the bar with a satisfied smile.
Without paying for the drinks… … .
* * *
In the name of an emergency accounting audit, dozens of experts occupied the main conference room at Ajin Group headquarters.
They discovered that hundreds of billions of dollars in loans had been transferred to shell companies and were lying dormant in the stock market, and they also discovered traces of work gloves being purchased on a daily basis, which was three times the number of workers at the automobile factory.
Ajin Construction, which had nothing to do with automobiles, was a company created to serve as a channel for slush funds.
The accounting experts hired from Miracle Investment clicked their tongues when looking at the accountants from the Sunyang Group audit team.
They discovered hundreds of billions of dollars in slush funds from a single number and discovered corruption at the factory from a single auto part.
In particular, we discovered corruption that everyone could not keep quiet about.
A company that supplied 7mm hex bolts regularly paid bribes to workers on the assembly line, not managers, and the workers only inserted 7mm bolts into cars instead of the 6mm bolts supplied by other suppliers.
This incident was the cause of the large-scale recall that occurred three years ago.
“however… . How do you know so well? “Are you from the prosecution’s financial investigation department?”
“You guys all ate foreign food, right?”
“That’s right.”
When Miracle Accountant, who could not contain his curiosity, asked, Sunyang Group audit team members burst into laughter. It was a clear laugh.
“Ajin kids are amateurs. The way to eat it is rough. “It’s not sophisticated.”
“In Korea, this is the level of cuteness. Isn’t it amazing? “How is it that Korea, where such injustice is rampant, has developed rapidly?”
“Bribery and embezzlement are the driving force of economic development. Haha.”
Daehyun Group held a series of emergency emergency meetings when Ajin Automobile’s hidden ten-won coin was revealed to the surface.
“What about the prosecution? “Why are these bastards quiet?”
“They say it is difficult to subpoena someone based on circumstantial evidence alone.”
“It’s a summons for reference! “How difficult is that?”
“that is… The general public may not know this, but he is a person of considerable importance, so the Supreme Prosecutors’ Office gave orders to be cautious… .”
“What is the specific gravity of freezing… . So what about the media? Why is the strength so weak? “Didn’t I tell you to hit me like a celebrity drug scandal?”
In front of Chairman Joo Young-il, whose voices were getting louder, the voices of the meeting attendees gradually subsided.
“Shoes, Chairman. It seems like someone is protecting Ah Jin. Every newspaper publishes an article, but it seems a bit uncomfortable… .”
“That’s right. In particular, you probably know that Hansung Ilbo has the greatest influence… .”
“so? Didn’t you give an advertisement to Hanseong Ilbo? “Didn’t you tell me to plaster it with corporate advertisements?”
“I did. I did… “Not a single line appears at all.”
“W-what is it? “Is it true that the rumor about you becoming in-laws with Sunyang is true?”
“It seems so. “If we absorb Ajin Motors, the biggest hit will be to Sunyang.”
“Oh shit! Especially at this timing! Chairman Jin is like that too. “You even sell your grandson to become a trumpeter?”
No one opened their mouths. Isn’t Chairman Joo also related to the family that owns the media company as an in-law?
Well, considering that it is customary for grandsons who are far behind in the succession ranking to be sold to media companies, Sunyang’s severity was severe.
Isn’t he the eldest grandson?
When Chairman Joo, who had been fussing for a while, calmed down, the CEO of Daehyun Motors carefully observed.
“President. The trend has already turned. “My bank will decide next week.”
“Are you sure?”
“yes. “Myeongdong’s private loan sharks have also turned their backs on us, so there is zero chance of securing urgent funds.”
As CEO Daehyun Motors assured, Ajin Motors became subject to the ‘Deferral of Bankruptcy Agreement’, a financial institution agreement enacted by the government on April 21, 1997, led by the government to prevent serial bankruptcies of insolvent companies.
In order to become a subject of the agreement, Ajin Motors submitted a memorandum of renunciation of management rights, a union agreement on wage and personnel reduction, and an agreement to dispatch a fund management team.
Now, during the two-month bankruptcy grace period, Ajin Motors has begun the process of siphoning off hidden slush funds.
The people secretly leading this work are Ajin’s Chairman Song Hyeon-chang, Miracle’s Oh Se-hyun, and Sunyang’s Chairman Jin Yang-cheol.
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