He is Already a Tycoon at a Young Age! - Chapter 67



Only Krnovel

Episode 67

Episode 67

Jinkyung Group Chairman’s Office.

“What are you?”

This is the first thing the Chairman of Jinkyung Group said to me after I entered his office.

“What is it?”

And the Chairman of Jin Kyung Group asked his chief secretary.

“This is George Sung, the largest shareholder of Pacific Investment Corporation.”

After hearing the chief secretary’s words, Chairman Jin Kyung Group looked at me with a bewildered expression.

“Can I sit down?”

“Please sit down.”

I am the Chairman of Jin Kyung Group, who started talking right away when I was young.

“Are you here on behalf of your grandfather? No matter how desperate I and the Jinkyung Group are, this is impolite.”

“In this Jin Kyung Group crisis, my grandfather, the chairman of Samjung Group, only played a role in selling the Jin Kyung Group stocks he owned.”

“what?”

“I prepared everything for this.”

At my words, Chairman Jin Kyung Group looked at me with an expression of disbelief.

“That’s nonsense.”

“Age is just a number, and from what I see now, such trivial matters are not important to Jinkyung Group. As you reported, I own 32% of the shares in three key affiliates of Jinkyung Group. Some of those 32% shares are managed in borrowed-name accounts.”

“so?”

“I came here to exercise my rights regarding the funds I used to acquire 32% of the shares in three companies and the 36 billion won in profits I had to give up.”

“You came here to exercise your rights?”

“Yes, I plan to end the short selling I did on the three affiliates of Jin Kyung Group tomorrow. If I do that, I will suffer a loss of 36 billion won. Of course, since I have acquired a 32% stake in the three core affiliates, I have actually made a profit of more than 300 billion won. And I have also gained the right to demand an extraordinary shareholders’ meeting from the Chairman of Jin Kyung Group right now.”

“Hmm.”

“You really made a big mistake. Now, the Jinkyung Group itself is in danger. The management rights of the three core affiliates will be transferred to the Taean Group.”

“Do you think it will be as easy as you say?”

“Surely you don’t think it’s really possible. The chairman’s stake is only 7.5%. Even if you include the 2.5% stake of a special relationship partner, it’s still 10%. I have three times more than that. And it’s also absurd that the group’s CEO, with only 7.5%, reigns over three profitable companies like an emperor.”

“So what do you want to do?”

“Once we request an extraordinary general meeting of shareholders, we plan to highlight the problem of the group leader controlling three profitable companies with his small stake and managing them as he pleases, and list the separation of affiliates as a key agenda item at the extraordinary general meeting of shareholders.”

“Is Samjung Group going to swallow up my three companies?”

“No, it’s not the Samjeong Group, it’s the Taean Group.”

“Taean Group?”

“Yes, Taean Group will be born tomorrow. And with the birth of Taean Group, three profitable companies will be absorbed from Jinkyung Group to Taean Group. Now, you should sense the seriousness of the situation. If one breaks, the rest will break like dominoes. Of course, you may still think that if Jinkyung Group acquires Korea Telecom’s mobile communications division, all problems will be solved, but that would be impossible.”

“Don’t make any promises.”

“Chairman of Jinkyung Group.”

“why?”

“Could you please prepare Group 2?”

“Two, two groups?”

“Yes, Pacific Investment Corporation has prepared 2 trillion.”

“How did the Pacific Investment Corporation, or rather the Samjung Group, prepare 2 trillion won?”

He is the chairman of the Jinkyung Group who even yells.

“No, I said it wasn’t Samjung Group, but the funds prepared by Pacific Investment Corporation. Also, Pacific Investment Corporation and Taean Group are separate corporations.”

“Are you really preparing Group 2?”

“Yes, Taean Telecom has already announced that it will sell the 20% of its shares it owns on the stock market. Of course, if it sells on the stock market, Taean Telecom’s stock price will fall somewhat, but since it has also announced that the purpose of the largest shareholder’s stake sale is to become the company selected for the privatization of Korea Telecom’s mobile communications division, it will fall slightly and then skyrocket again.”

The news agency is the goose that lays the golden eggs.

And when the Internet becomes active, we will receive annual network usage fees from domestic and foreign Internet-related companies, so I think it is not impossible for our annual operating profit to exceed 4-5 trillion won.

“So give up now.”

“Give up? Are you telling me to give up?”

“Yes, if you give up now, you can at least save a part of the Jinkyung Group. I understand that you paid 350 billion won in additional taxes on the former president’s slush funds. So how much money does the Jinkyung Group have prepared?”

“Kid, you’re talking to me like you know everything, but the showdown isn’t over yet.”

“You will participate in the privatization project by collaborating with the GL Group, which is burning with revenge. I believe that the funds that the GL Group will bear will not exceed 300 billion to 500 billion won. Even if that is the case, I think that the funds that the Jin Kyung Group can secure will be at most 1.3 trillion won. You can figure it out with simple math.”

“Did you come all the way here to explain that simple math to me?”

“That’s not it. The value of Korea Telecom’s mobile communications division is currently overvalued. Originally, we could have completed the acquisition for about 700 billion won, but now we will have to spend twice as much.”

“That’s because Taean Communications announced that it would participate.”

“That’s true, but it’s also because GL Group and Jinkyung Group joined hands. Mr. Chairman, from now on, you have to think about who you will join hands with again.”

“what?”

“GL Group and Samjung Group are no different from enemies. GL Group cannot stand seeing Samjung Group do well, and Samjung Group is no different. Jinkyung Group got involved in this relationship. Of course, GL Group reached out to you to sabotage Taean Telecom, which it considers a collateral of Samjung Group. Chairman Jinkyung Group, you should let go of your hand with GL Group first.”

“Are you telling me to scrap the joint venture?”

“Yes, that is the beginning of improving my relationship with you.”

At my words, Chairman Jin Kyung Group looked at me with an expression that said he did not understand.

“Having a telecommunications company that lays golden eggs is the best outcome. But what good is that if the Jinkyung Group itself falls apart? If the three core affiliates leave, as I mentioned earlier, a domino effect will occur.”

“What if I cancel the joint venture I signed with GL Group?”

“That’s the beginning, and if you announce that you are giving up on the telecommunications privatization project, I will keep only Jinkyung Energy among the three affiliates and return the other two companies to you.”

“what?”

“In that case, the Jinkyung Group will be able to avoid the worst case scenario. And depending on the situation, they may even be able to secure greater benefits than the loss of Jinkyung Energy.”

“Jinkyung Energy is the core of the Jinkyung Group.”

“Yes, but I already own 32% of the shares.”

This is the Chairman of Jin Kyung Group, who bites his lips tightly at my words.

“You have to save two.”

“Are those all the requirements?”

“No. First, you cancel the joint venture with GL Group, transfer Jinkyung Energy to Taean Group, and then announce that you are giving up on the telecommunications company privatization project.”

You can’t persuade someone with just a whip.

“That means give up everything and surrender.”

“If you give up what you can’t give up, you’ll get a bigger benefit.”

“Mr. Chairman.”

At that time, Executive Director Lee Jin-ho called the Chairman of Jin Kyung Group.

“why?”

“If you give up, you can gain more.”

Executive Director Lee Jin-ho noticed something I hadn’t said yet.

‘I really want that old man.’

With that level of ability, I think he would be enough to be the head of the overseas business division of Pacific Investment Corporation. I also think he would be able to achieve the best results if he worked with Fleet Gil Investment Manager.

“How can giving up everything lead to greater gains?”

“If we give up on the KT privatization project, 700 billion won will remain.”

“so?”

Jin Kyung Group Chairman asked Executive Director Lee Jin-ho.

“Just a moment.”

Two people looked at me when I said that.

“There is one more requirement.”

“What is it?”

“The chairman is firing Executive Director Lee Jin-ho.”

Director Lee Jin-ho was surprised that I even knew his name, and then looked at me with a look that seemed to intuitively understand why I was making such a request.

“What? Fire Executive Director Lee Jin-ho?”

“Yes, you should do that.”

“Stop talking nonsense. Even if you’re a child, you shouldn’t make demands like this.”

“The person who made it possible for me to make such absurd demands is the chairman.”

“Oh, oh …

Chairman Jin Kyung of the Jin Kyung Group is so angry that he even stutters when speaking.

“Executive Director Lee Jin-ho.”

“Yes, Mr. Ji-seong.”

“Now, please tell Chairman Jin Kyung Group why it will be in your best interest and why I came here instead of calling for an extraordinary general meeting of shareholders right away. I think Executive Director Lee Jin-ho will now know that I came here for mutual benefit.”

“It’s a shame that if I had seen it from the beginning, I could have created a new situation.”

“I just want to tell you that selling a 20% stake in Taean Telecom to secure acquisition funds is not the only way to secure acquisition funds.”

“There’s more?”

“It’s infinite. You may not believe it.”

I smiled at Executive Director Lee Jin-ho, and Executive Director Lee Jin-ho shook his head at me.

“Mr. Chairman, we have 700 billion won in funds.”

“So what?”

“Do you really not know why Mr. Ji-seong came here?”

When people get excited, their brains often become paralyzed.

“Hmm.”

“Taean Telecom announced that it would sell a 20% stake in the market. And Jinkyung Group has 700 billion won. If it just gives up the telecom privatization project, it will have 700 billion won in free funds.”

At Executive Director Lee Jin-ho’s words, Chairman Jin Kyung Group finally looked back and forth between me and Executive Director Lee Jin-ho with startled eyes.

“Yeah, that’s right.”

“Yes, Taean Telecom will eventually become the privatized operator of Korea Telecom’s mobile communications division. So if you buy Taean Telecom stocks with 700 billion won now, you can become a major shareholder.”

“Mr. Chairman, who will you join hands with now?”

I haven’t posted yet that I’m selling the stock.

“Are you really going to let that happen?”

“With 700 billion won, you will probably be able to secure a 10% stake in Taean Telecom, not Taean Telecom.”

If you can secure even a 10% stake in a situation where you could lose everything, it’s a stroke of luck.

‘And the Taean Group that will be created soon.’

The plan is to acquire Jinkyung Energy and make it Taean Energy, making it one of the core affiliates. And also, to give GL Group another piece of shit.

“If I give up, the acquisition price for the telecommunications company privatization will drop to around 1 trillion won, right?”

Chairman Jin Kyung Group’s mind has changed more than 90%.