He is Already a Tycoon at a Young Age! - Chapter 69



Only Krnovel

Episode 69

Episode 69

The next day, in the GL Group Chairman’s office.

“father!”

The announcement that he would be appointed as the president of GL Electronics in the US was like a bolt from the blue for the eldest son of the GL Group, so he immediately went to see his father.

“I don’t even want to look at it.”

“Please give me just one more chance.”

“You didn’t give me a chance?”

“I will never fail again.”

“You may fail, but you have lost every time you confronted the Samjung Group. You have lost every time in a fight that you absolutely should not lose. And as you have confirmed, the GL Group has also abandoned the principle of primogeniture. If you are not capable, you should not take charge of the group.”

“Father, please give me just one more chance.”

“I gave you a chance. Yes, I gave you one more chance. So go to the US branch and achieve something and come back. This is the last chance I’m giving you.”

“How can a branch manager at the director level be an opportunity for me?”

Now the son was beginning to question his father.

“Don’t you think it’s not a chance?”

“The position of US branch manager is a director-level position.”

“Inma, if it were up to me, I would have sent you to the African branch.”

“Oh, father.”

“Leave the country tomorrow. Your younger brother, Seongmo, will take your place.”

“The Virgin Mary?”

“Yes, they are all the same children, so we should give them equal opportunities.”

“It’s not the same.”

“what?”

The look in the eyes of the GL Group Chairman has changed completely.

“I’m sorry, I’m sorry.”

“To me, they’re all the same. From now on, I’ll only look at their abilities. Do you understand? If you don’t have the ability, giving up is still an ability.”

“father.”

“I gave you one last chance. Now do what you want. Go away, I don’t want to see you.”

At the GL Group Chairman’s words, the former GL Electronics President got up from his seat and left the Chairman’s office, as he could no longer remain there.

‘You poor thing, tsk tsk!’

If you can’t even take care of your own rice bowl, you’re a loser.

beep-!

The intercom came on.

– Mr. Chairman, the new CEO of GL Electronics, Mr. Koo Seong-mo, has arrived.

“Tell them to come in.”

The new GL Group CEO arrived at the chairman’s office as soon as the former GL Group CEO left, so the two must have met.

And the new president of GL Electronics, Mr. Shin, came in.

“Have you seen your brother?”

“Yes, Chairman.”

“Now you are a father.”

“Yes, father.”

“As you know, this is my first and last chance to give you.”

“I will keep that in mind.”

“If you don’t want to end up like your brother, you have to win the fights you absolutely cannot afford to lose.”

“I won’t give up on Samjung Electronics.”

“Is there a way to win?”

“For the time being, we will not be able to beat Samsung Electronics in the kimchi refrigerator, French-door refrigerator, and mobile phone business.”

“so?”

“I plan to invest more in the semiconductor industry and focus on the display business. If my father allows it.”

“Really?” “After all, Samsung Electronics has become the number one mobile phone maker in Korea, and as it enters the global competition, semiconductors are absolutely necessary.”

“That’s true.”

“If GL Electronics’ semiconductor division takes charge of all the semiconductors used by Samsung Electronics, Samsung Electronics will end up being a circus bear that shows off its skills for GL Electronics. If it holds on to semiconductors and continues to research and expand, GL Electronics will ultimately win.”

“Are you sure?”

“Because semiconductors are the rice of industry.”

The GL Group Chairman also nodded at the words of the new GL Electronics President. In any case, the Samjung Group and the GL Group will continue to fight until one of them goes down.

* * *

April 1, 1994, Taean Group headquarters building conference room.

In every way, my actions are unconventional and creative.

Today, Taean Group was finally established, and contrary to everyone’s expectations, the first chairman of Taean Group was appointed as a professional manager. So everyone is surprised.

“Today, Taean Group was born. Taean Group will grow by creating a new business order in Korea with Taean Telecom, which will be successfully acquired in the future, as well as Taean Electronics, Taean Media, Taean Industry, and Taean Yanghwa, and will create a new culture.”

Everyone gathered nodded in agreement with my words.

“And the CEO and professional manager who will lead Taean Group in the future is Chairman Lee Jin-ho, as announced.”

People expected that Kang Cheol-joong, the president of Taean Electronics, or Park Seon, the president of Taean Electronics, would become the first chairman of Taean Group. Or they thought that my maternal grandfather, Park Moon-soo, the president of Taean Industrial, should take office as chairman.

‘I am an adult.’

I think you need to maintain a professional management system until you grow up.

“I will remain the largest shareholder as I have always been. I don’t know when that time will be, but if everyone here does their best in their respective roles, I will not succeed to the chairmanship of Taean Group. I am satisfied as the largest shareholder of Taean Group. Of course, I will not be part of Taean Group, the Pacific Investment Corporation, which I will be directly involved in in the future.” In South Korea, companies cannot have banks because of the financial industry separation policy.

‘The ultimate goal of Pacific Investment Corporation is investment banking.’

My goal is to become the best investment capital bank in the world after becoming the best in Asia, beyond Korea.

“Then, you can now proceed with the meeting chaired by Chairman Lee Jin-ho.”

Of course, even if I were Chairman Lee Jin-ho, who became the first chairman of Taean Group, I would still have the greatest influence in Taean Group.

“Yes, our largest shareholder.”

“Please take a seat.”

The head of Taean Group is Chairman Lee Jin-ho, so he should sit at the top. And I should sit next to him as the largest shareholder.

“Yes, Mr. Major Shareholder, I have already written a document introducing myself and placed it on the table. Those who are curious can look at the document. Now, let’s get started with the meeting in earnest.”

“Yes, Chairman.”

First, Park Seon, the president of Taean Electronics and one of the most powerful figures in the Taean Group, responded as if he acknowledged Chairman Lee Jin-ho, whom I had appointed.

“As you all know, the core company of Taean Group is the telecom company that will be acquired by Taean Telecom. The public bidding competition for the privatization project is on April 12, and there is not much time left.”

The value of the mobile communications division fell sharply as Jinkyung Group gave up on selecting a privatization operator.

“Yes, sir.”

“Yes, go ahead. Taean Telecom CEO Kang Cheol-jung.” “We have prepared over 1 trillion won, and Taean Telecom plans to spend 700 billion won on the day of the bid.”

“700 billion?”

“Yes, the initial appraisal price was 700 billion won. Currently, foreign capital and domestic companies are competing through joint ventures, but I think 700 billion won is sufficient. I think the acquisition funds have dropped significantly since Jin Kyung Group gave up.”

“What President Kang Cheol-joong said is right, but 700 billion is not enough. We need to write down 1 trillion.”

“Mr. Chairman, did you say 1 trillion?”

“Yes, that’s right. I think it’s 1 trillion. Then what does the largest shareholder think?”

Chairman Lee Jin-ho asked me.

“I won’t give my opinion. I’ll just provide the acquisition funds.”

It is a situation where you can’t take sides. They have to find a conclusion through endless debate and meetings.

At that moment, the conference room door opened.

Manager Oh, who was my personal secretary in place of President Park Sun-tae of Taean Electronics, came in and approached me.

“The president of Young Business has arrived at the office.”

I have already received a report that Uncle Park Hyuk, the CEO of Young Industrial, sold two aircraft carriers to China for $1 billion, the exact price I asked for.

“all right.”

After speaking briefly to Manager Oh, I stood up.

“I have something to do separately, so I must leave now. Please discuss it thoroughly, come to a conclusion, and execute it. All responsibility lies with me, the largest shareholder, and Chairman Lee Jin-ho, the CEO.”

“Yes, I understand.”

Park Sun, the president of Taean Electronics, answered immediately.

“And I will be going to study abroad in the United States next year. So, the domestic business can be run by Chairman Lee Jin-ho.”

When I go to the US, I will focus on investing in the US in earnest along with my study abroad life.

‘Next year is 1995.’

The IT craze is blowing in the United States. Riding that craze, Pacific Investments’ US corporation is bound to prosper.

‘Literally!’

A beggar who goes on a corporate shopping spree.

* * *

April 1, 1994, Jisung’s office at Taean Group headquarters.

“Uncle, you really worked hard.”

“Jisung, I have something to tell you.”

“Yes, go ahead. What is it?”

“They set fire to the control rooms of two aircraft carriers that had been handed over to China and destroyed their communication equipment.”

“But China will buy it for 1 billion dollars.”

“Yes, I find that obsession scary. As China’s economy grows further in the future, its military power will also increase. Along with that, it will threaten South Korea.”

“That’s right. America never lets second place go. So you don’t have to worry too much.”

“Jisung, do you think so?”

“Yes, that will definitely happen.”

America has always been like that.

Of course, I also know that the coronavirus situation has delayed the US from implementing a policy of not leaving China alone.

‘That’s a problem for later.’

It is important for Taean Group and Pacific Investment Corporation to grow further now.

“I get it.”

“Yes, Uncle, and I have another favor to ask of you.”

“What instructions?”

“Bangladesh is one of the poorest countries in the world.”

“however?”

“The poorest countries can copy and sell patented generic drugs, but only in their own countries.”

“okay?”

“Yes, so I would like Young to set up a pharmaceutical company in Bangladesh.”

Park Hyuk-young, the CEO of Unemployment, nodded his head at my words.

“i get it.”

“In Bangladesh, Young Industrial should become the top conglomerate.”

“Will that work?”

“Of course, we have to make it happen. I will support you fully.”

I looked at Young In-jae and laughed at the president of Park Hyuk-jae.

‘Until I go to America next year.’

There’s so much work to be done.

‘Because Taean Pharmaceutical also needs to be established.’

Anyway, I plan to make full use of all the future memories I know, so that I can grow bigger faster.

* * *

April 12, 1994, the presidential office at the Blue House.

“Taean Telecom was selected for the privatization project of Korea Telecom’s mobile communications division.”

“How much is the acquisition capital?”

“Taean Communications wrote 1 trillion and was selected.”

“Didn’t the chief economic adviser tell me that it would amount to 2 trillion won?”

“The value that had skyrocketed when Jin Kyung Group gave up on the privatization project plummeted.”

The president nodded as if he had no choice in response to the economic chief’s words.

“Anyway, it was privatized in the end. What is public opinion?”

“There is no major noise.”

“Then that’s fine.”

Eventually, Taean Telecom became the owner of Korea Telecom’s mobile communications division.

With this alone, Taean Group of Jisung will be able to enter the top 10 of South Korea’s business world within a few years.

* * *