He is Already a Tycoon at a Young Age! - Chapter 50



Only Krnovel

#050

“Are you actively supporting Taean Electronics?”

The reporters asked questions.

Grandfather paused for a moment.

“Semiconductors are the rice of industry. From that perspective, it feels a bit late.”

This is something that no one can deny. However, Ji-sung told his grandfather to postpone his entry into the semiconductor business, which is the core of the electronics industry, for a while.

“Mr. Chairman, Samjung Group also includes Samjung Electronics, so why did you participate in the acquisition of Korea Semiconductor through a new electronics company called Taean Electronics instead of Samjung Electronics?”

“Samsung Electronics will focus on the mobile phone and home appliance industries, and Taean Electronics, a company founded by my son-in-law, is entering the semiconductor business to become competitive enough. Well, you can see the results.”

My grandfather, the chairman of Samjeong Group, finished speaking.

As the secretaries opened the way, my grandfather took my hand and we entered the Korea Semiconductor Bidding Hall.

‘My two uncles will be informed of this appearance.’

If this is a plus, then it is a plus.

* * *

Inside the Korean Semiconductor Bidding Hall.

“what?”

The GL Electronics president, who had been briefed by his chief secretary, could not hide his surprised expression and asked back.

“The chairman of Samjeong Group came in person.”

“That old man?”

The president of GL Electronics felt that the reason the chairman of Samjung Group came to this bidding site was to inflict defeat on him unconditionally.

‘Are you really going to go all the way with me?’

The president of GL Electronics couldn’t help but get angry. And he was appalled by the cruelty of the chairman of Samjung Group.

“Yes, that’s right. He is entering the bidding room with the president of Taean Electronics.”

“Oh, really? You’re pushing me this hard just because I’m your new son-in-law?”

The president of GL Electronics frowned.

‘If only I could have had a child.’

The reason why the GL Electronics president divorced Ji-sung’s great-aunt was because Ji-sung’s great-aunt was infertile. To be exact, it was not complete infertility, but rather infertility that was close to infertility. And the reason why the GL Electronics president finally decided to divorce was because his mistress gave birth to a son. Of course, that is not the only reason for the divorce.

“Sir, this means that Samjung Group is serious about acquiring Korea Semiconductor. The fact that even the chairman of Samjung Group visited the public bidding site shows that they are determined to succeed in the bidding.”

“Damn, the bid price is just going to go up.”

There has already been extensive news coverage that the acquisition of Korea Semiconductor is a two-way battle.

It was reported that it was a showdown between Samjung Group and GL Group.

[I have to win this time. That guy is acting all arrogant after the kimchi refrigerator incident. Do I have to keep seeing him like that?]

[Father, you don’t have to worry.]

[I said I was confident last time and got scammed badly, so don’t let your guard down.]

[Samsung Electronics has no foundation in the semiconductor business. Also, GL Electronics has sufficient financial resources. I will definitely acquire Korea Semiconductor.]

The president of GL Electronics recalled what he had said to his father, the chairman of GL Group.

“Director Jang.”

“Yes, sir.”

“Let’s spend 20 billion more.”

At the words of the GL Electronics president, Director Jang, his closest aide, looked surprised.

“Sir, if we do that and the semiconductor recession starts, we will only have 80 billion won left to survive.”

Director Jang whispered so that only GL Electronics could hear.

“I can’t lose here. It’s obvious that the old man will spend 400 billion won by putting forward a dummy company called Taean Electronics. No, since everyone else will think it’s 400 billion won, I can spend 410 billion won. I’ve come this far and the old man is here, so I can’t lose again.”

This is the power of the Samjung Group Chairman.

“No matter what, it’s impossible.”

“It’s a situation where we have no choice but to push ourselves. It’s 420 billion. That’s it.”

The president of GL Electronics said so and snatched the bidding documents that Director Jang was holding.

* * *

Samjeong Life Insurance CEO’s Office.

“Your father went to the Korea Semiconductor Bidding Site, and Ji-seong, who was there, held your hand and went into the building?”

“Yes, sir.”

After receiving the report, the president of Samjung Life Insurance, the second son of the Samjung Group, frowned.

“They say that father favors Ji-seong too much.”

“It’s excessive. When I think about everything that’s happened to me so far, I don’t think it’s favoritism.”

“Isn’t that just favoritism?”

“Yes, first of all, the CEO of Taean Industry is Ji-seong’s maternal grandfather. Taean Industry was established at the same time that Samjung Defense was separated from Samjung Heavy Industries to establish a defense industry company. And then Samjung Defense invested 100 million dollars in Taean Industry.”

“That’s right.”

“It’s a whopping $100 million. That $100 million will eventually become the white knight of the president of Samsung Electronics.”

The financial director of Samjung Life Insurance was the closest associate of the president of Samjung Life Insurance.

“Your brother’s white knight?”

“Isn’t that right? Realistically, the president of Samsung Electronics has no external support.”

“That’s true.”

“So, the chairman is creating a white knight. And this time, he founded Taean Electronics, and Taean Electronics, which is an incredibly new electronics company, issued corporate bonds worth 400 billion won. Some of those corporate bonds worth 400 billion won were purchased by Samjung Electronics and Samjung Department Store. I think the chairman is supporting his eldest son, the president of Samjung Electronics, in this way.”

“Damn, my father’s love for his eldest son is endless.”

The president of Samjung Life Insurance and his closest executives had no idea how great a company Taean Industry was. And they had no way of knowing how essential Taean Industry was to the enhancement of the combat power of the Ministry of National Defense of the Republic of Korea. So they interpreted it as something they considered important.

“Yes. Now, it is no different from the war of succession having begun.”

The president of Samjeong Life Insurance frowned at the words of his closest director.

“What’s the solution?”

“You are entering the credit card business.”

“Credit card?”

“Yes, that’s right. If we enter the credit card business after partnering with Samjeong Department Store, it will be easier to raise slush funds.”

“department store?”

“yes.”

“Samjeong Department Store purchased Taean Electronics corporate bonds when Taean Electronics was issued. Just looking at that, you can see that they are on your side. And Heeseon’s goal is to take over the entire department store and become independent through a spin-off.”

“That’s why, if you say you’ll help separate the affiliates, the president of Samjeong Department Store might turn away. Wouldn’t it be better to take the enemy’s 1 point and create a 2-point effect rather than gaining 1 point?”

“That’s true. Okay, I see.”

* * *

Korea Semiconductor Open Bidding Site.

When I entered the bidding room holding my grandfather’s hand, the chairman of Samjeong Group, the president of Taean Electronics, and my grandfather, the people inside the bidding room were surprised again.

My grandfather intentionally walked towards the place where the president of GL Electronics was.

“Hello, Mr. Jang, or rather, Chairman.”

“It looks like you’re still doing well.”

My grandfather hates the sight of the GL Electronics president. But he is determined to trample on him so that he can never get back up, even using formal language like this.

“I really didn’t know I would meet you, Chairman, in a place like this.”

“There are times like this when you’re doing business. I’m sure President Koo is uncomfortable with me, so I’ll stop now.”

“ah!”

Grandfather turned around.

My grandfather looked at me.

“There is an old saying that says, ‘I have never seen a man who chased away his wife and did well.’”

The fact that my grandfather said such things despite having a great-uncle who is the president of Taean Electronics means that he really hates the former president of GL Electronics.

“Mr. Park.”

“Yes, Master.”

“I’m sorry for saying that in front of Mr. Park.”

“No, I’m fine.”

“Then come and submit your bid.”

“Yes, Master.”

After answering politely, the Taean Electronics president submitted the bid to the Korea Semiconductor bidding officials.

As my grandfather and I watched the scene, my grandfather’s hand tightened as he held mine.

“Jisung-ah.”

“Yes, Grandpa.”

“Jisung, if you do as you say to me, I will give you another gift.”

As my grandfather spoke to me, he was glaring at the president of GL Electronics, who was in a tense situation.

* * *

An hour later, inside the Korea Semiconductor Bidding Hall.

The person in charge of the Korean semiconductor bidding came into the office.

He was holding an envelope of documents in his hand. It was a moment that made everyone nervous.

‘To be more precise.’

Only the president of GL Electronics is nervous.

“We will select the buyer of Korea Semiconductor.”

This acquisition of Korea Semiconductor will be conducted by first deciding on an acquirer without selecting a negotiator.

“The company that acquired Korea Semiconductor is GL Electronics, which submitted 420 billion won as the acquisition price.”

As soon as the presenter finished his speech, the president of GL Electronics stood up with both hands raised in triumph and looked at his grandfather.

“Okay.”

“Yes, Grandpa.”

“Jisung, you shouldn’t make him laugh until the end.”

My grandfather looked at the former president of GL Electronics smiling for a moment before speaking to me.

“Master, I don’t like that either.”

This is the first time my uncle, the president of Taean Electronics, has shown such a reaction.

“Yeah, that’s right.”

Grandfather got up from his seat.

After glancing once at his great-uncle, the Taean Electronics lion, as if to show off to the GL Electronics president, he quickly left the bidding site with his secretary.

“Jisung, will the future unfold as you imagine?”

My great-uncle asked me.

“Now the winner’s curse begins for GL Electronics.”

After talking to my uncle, I looked at the smiling president of GL Electronics and laughed, but the president of GL Electronics looked like he was wondering why that little kid was laughing at him.

‘Laugh, because you will end up crying.’

* * *

The Blue House Presidential Office.

“Is the issue of the former president’s slush funds receiving more public attention than ever before?”

“Yes, the prosecution has launched a large-scale investigation, and the opposition party is also demanding a hearing. Now is the time to draw a clear line with the previous administration.”

Intelligence moves the media.

At the same time, the prosecution began an investigation. As a result, the Jinkyung Group, which was re-challenging the privatization of the mobile communications division of Korea Telecom, was in an awkward situation as the issue of the former president’s slush funds was being reported every day.

“If the people demand it, then of course a special investigation or hearing should be held.”

“Yes, that’s right.”

“Didn’t Jin Kyung Group say it would once again attempt to privatize Korea Telecom’s mobile communications division?”

“Yes, it seems like Jinkyung Group is also in a difficult situation. And.”

“and?”

“This time, it seems that it was the Samjeong Group that moved public opinion and the prosecution.”

“Samjeong Group?”

“Yes, the second son-in-law of the chairman of Samjeong Group is a senior prosecutor at the Central District Prosecutors’ Office, and he is said to be investigating the former president’s slush fund case.”

“Is Samjung Group interested in the telecommunications business?”

“I don’t think we can allow an electronics company that produces cell phones to also own a telecommunications company.”

The president also nodded at the words of the chief economic official. Ji-sung had expected this to happen, so he established Taean Electronics separately.

Of course, Ji-seong planned to participate in the telecommunications company privatization project not through Taean Electronics, but through Pacific Investment Corporation.

Episode 51