I Became Park Jeong-ui’s Nephew - Chapter 198



Only Krnovel

He became Park Jeong-ui’s nephew. – (198)

“Prime Minister, this way.”

This is Geojedo Island,

Prime Minister Park Jeong-ui toured the shipyard.

The person who stands by his side is Daewoo Group CEO Kim Woo-choong, and the relationship between the two goes back about 40 years.

During the Japanese colonial period, becoming a teacher in Joseon was a shortcut to a stable job, and Park Jeong-ui took the entrance exam to a teachers’ college as advised by his older brother.

The person who received instruction there was Chairman Kim Woo-joong’s father, Kim Yong-ha, and Kim Yong-ha also helped Park Jeong-ui enter the Manchurian Military Academy.

Since he had received a favor from his teacher, he should now give a favor to his son. Park Jeong-ui paid 3.3 billion won in government subsidies to Daewoo Group.

Kim Woo-joong made aggressive investments, including purchasing a shipyard with the money, and achieved sales of $1 million in just five years after starting his business.

How satisfying would that be for the leader?

Park Jeong-ui was especially fond of Chairman Kim Woo-joong.

Just as the head of state has a worker like Hyundai Group, wouldn’t he also need a worker like that to fulfill his role as prime minister?

Park Jeong-ui wanted to support Daewoo Group more, but he was caught off guard.

Due to the recent embezzlement scandal involving state subsidies, Daewoo Group had no capital, so Chairman Kim Woo-choong borrowed money from acquaintances or borrowed money from secondary financial institutions.

Even though it achieved sales of 1 million dollars, it is a huge privilege to provide a government subsidy of 3.3 billion won to a company that is not financially sound.

But what would happen if I applied here again and got caught on the radar of the Central Intelligence Agency? Not only would Chairman Kim Woo-joong die, but I could also be in trouble.

Chairman Kim Woo-choong has already noticed this, and he needs to flatter the government to get more subsidies to promote the electric car industry.

If possible, it would be better to boil the head of state, but the only person I can rely on now is the prime minister who has a connection with my father.

After much deliberation, I made a bold move.

“Mr. Prime Minister, I have a new project coming up. Would you like to hear about it?”

“What is that?”

“I want to acquire an automobile company and develop my own engine.”

“Is that possible? Daewoo doesn’t have any automobile technology.”

“There is nothing we cannot do if we borrow German technology. Didn’t your Majesty take control of the American semiconductor industry in that way?”

The head of state purchased technology from an American semiconductor company and set up a production line.

A very wise decision,

Which company develops its own technology in this day and age?

We just have to produce by acquiring or forming partnerships with competing companies. Germany is the most advanced country in the world in terms of automobile technology, and competition among companies is fierce.

Setting up a production line is quite expensive, so wouldn’t it be a good idea to transfer the technology to a company with capital and receive incentives?

In fact, Chairman Kim Woo-choong devoured the shipyard business in that way.

The problem is that this castle was built by borrowing from others.

Did Daewoo Group develop its own technology or does it have solid capital?

A person with the mindset that technology can be borrowed from others would never have invested money in technology development.

The same goes for capital. If a company receives subsidies and does business, it is obvious that it will continue to reach out to the government in the future.

Then, when you go bankrupt, you will beg the government for help.

Park Jeong-ui also found that uncomfortable.

However, it is true that Daewoo Group is a fast-growing company, and although they cannot give a lot of money because of the court’s consideration, they decided to provide an additional subsidy of 1 billion won.

Kim Woo-joong used that money to acquire a domestic automobile company.

They signed a partnership agreement with a German company and began producing automobiles.

***

“That guy Kim Woo-joong produces cars?”

“Yes, Chairman.”

“Ha~ When the loach jumps, the magpie jumps too.”

This is the Hyundai Group headquarters,

Chairman Chung Ju-young scoffed at the collusion between politics and business.

Of course, it is true that Hyundai Group has come this far thanks to the protection of the political world, but at least it is not a company that relies on government subsidies.

“Mr. Chairman, isn’t the government subsidy insufficient?”

“When have we ever run a business with subsidies? Let’s start from the beginning.”

Chairman Jeong Mong-ju has completed many projects so far while enduring losses.

Investing in heavy equipment for rapid development in the Middle East and building thermal power plants in the Buulkyung area are all negative projects for companies.

Since they didn’t have money right away, if they were short on money, they had to rely on government subsidies, and if that wasn’t enough, they had to borrow money from financial institutions.

“It’s okay, I can handle it.”

But Chairman Jeong Mong-ju did not hesitate.

Is Hyundai a company that would be shaken by taking on that much debt? Hyundai Group has now emerged as a global company and has grown to a size that can handle that much.

But what about Daewoo Group?

Rather than strengthening their foundation, they are eager to grow in size by flattering the government, receiving subsidies, and borrowing from financial institutions.

These guys are acting like big companies because they achieved $1 million in sales.

Chairman Chung Ju-young treated Prime Minister Park Chung-hee, who was promoting such companies, as the same as the scum.

“What business can’t do business with government subsidies? Even a child can do that.”

“That’s right. By the way, Chairman, what if Daewoo Group receives the Prime Minister’s protection and threatens our position?”

“Don’t worry. Prime Minister Park Jeong-ui is the number two man who lives by watching the enemy’s face. There is a limit to how much he can do as he pleases.”

Chairman Chung Ju-young did not keep in mind the solidarity between Park Chung-hee and Daewoo Group.

If Hyundai goes its own way, it’s okay. If Woo-choong Kim signed a partnership agreement with a German automobile company, then Hyundai Group signed a partnership agreement with Ford Motor Company of the United States.

But if you think that’s all, you’re mistaken. If you stop there, you’ll only be at the level of Chairman Kim Woo-joong.

Chairman Chung Ju-young decided that we also needed to develop our own technology, so he invested in technology development seven years ago and recently even built an auto repair plant in the United States.

If a car manufactured by Daewoo Group breaks down, where will it be repaired?

Manufacturing technology and after-sales service are completely different. Even if Daewoo Group produces cars at a low price, if its after-sales service is poor, it will eventually be blocked.

If you think that Hyundai Group will be scared by Daewoo Group producing cars, you are mistaken.

Chairman Chung Ju-young declared war, saying, “Let’s see who will stick together.”

***

“Huh? Why is it like this?”

“Why? It won’t start?”

“Just wait a minute.”

This is Changgyeonggung Palace, and the guards wrestled with cars.

For a head of state who may go on a business trip at any time or place, it is of course important to maintain a car that will be his transport.

I’m not stranded without this car, but I can’t just leave it broken down.

Changgyeonggung Palace contacted the repair center.

The problem is that this is a car manufactured in the US, so should we send it to the US headquarters for repairs? It’s not like the head of state is broke, and it’s better to buy a new car at that time.

But here, a relief pitcher comes on,

Hyundai Group has stepped forward to carry out repairs.

“We have a technology partnership with an American company. We can fix it.”

“Approximately how long will it take?”

“Possible within 3 hours.”

Hyundai Group quickly dispatched mechanics.

By fixing the car of not just anyone but the head of state, we showed that we are on a different level from any group that borrows other people’s technology to make cars.

The mechanics completed the repairs within the promised time,

It surprised the managers of Changgyeonggung Palace.

“No, when did Hyundai Group’s technology develop so much?”

“Our chairman values ​​independent technology development. He recently even built an auto repair plant in the United States.”

In fact, Hyundai car sales have been skyrocketing in the United States recently.

There are many reasons, but one of them is the fast AS service. There is no company in the US that provides repairs as quickly as Hyundai.

So, when a car breaks down, consumers have no other choice but to go to a private repair shop, even if it costs a lot of money.

What can I do if my car doesn’t move and my feet are tied?

It was natural that Hyundai Motors, which now provides after-sales service based on its own technology, would increase its status in the United States.

“It’s better to buy a Hyundai car even if it’s a little more expensive.”

This perception is beginning to take hold among the Korean people as well.

A car is the face of its owner, so why should I drive a Daewoo car?

AS service is also like heaven and earth,

Hyundai Group can operate a service center because it has solid capital, but how could Daewoo, which is in a hurry to borrow money and produce cars right away, provide after-sales service?

From the beginning, Daewoo Motors could not be a rival to Hyundai Group.

If this happens, Daewoo Motors has only one choice: to go overseas to avoid fierce competition.

The problem is that Southeast Asia and China have no purchasing power, so what kind of car would workers who live hand to mouth buy?

People with good financial standing might buy cars, but would they necessarily prefer Daewoo cars?

Even if it meant paying more, I would have bought a car produced by Hyundai Group.

***

“Sir, Daewoo Group has gone bankrupt.”

“Really? Didn’t you brag about achieving $1 million in sales a while ago?”

“It was a castle built on sand.”

The same routine that repeats itself today,

I heard the news of Daewoo Group’s bankruptcy at Changgyeonggung Palace.

The company collapsed after being overworked for some reason. When I looked at its financial statements, I saw that its debt ratio was over 400%.

How is it that 4.3 billion won in government subsidies are being invested in a company like this? I already know where this money came from.

‘Uncle, that’s not how companies support you.’

My uncle invested in Daewoo Group based on his personal connections.

How could I turn away when my teacher’s son says he wants to start a business? However, running a business is not about connections and affection.

What kind of competitiveness can a company have that borrows other people’s technology and money to do business?

So, I am also investing a lot of money in semiconductor production facilities. The US has the original technology, but production technology is a separate issue.

If it weren’t for Daehan Transportation, would American semiconductor companies be able to produce the goods?

Thanks to the investment in Korean transportation, the cost of production has been cut by half in the United States, and as competitiveness has grown, an environment has been created where Korea can compete with Japan.

This is how to run a business,

It’s not a matter of pushing someone and arguing about who gets what.

The reason Hyundai Group gained an advantage in the United States was thanks to Chairman Chung Ju-young’s vision. He thought that we should support companies that can stand on their own two feet. My uncle thought that running a business was too ridiculous.

In addition, 4.3 billion won in government subsidies have been sunk, so how are we going to clean up the mess?

Embezzlement of government subsidies is punishable by death, but am I going to kill my uncle with my own hands?

After much deliberation, he gave the order.

“I’m going to leave this case as is, so tell your uncle to step down.”

“All right.”

Eventually, the uncle resigned as prime minister once again.

The reason was not reported in the media, but everyone knows that Chairman Kim Woo-choong was also sentenced to 7 years in prison and a fine of 13.3 billion won on charges of extravagant management.

Technicians working under Daewoo Group were also dismantled in midair.

If they were talented people with a long history of experience, like engineers working for Hyundai Group, the country would have embraced them, but engineers who worked for Daewoo Group are useless.

Is there any point in rescuing these people when they have no accumulated technical skills?

As a person with an entrepreneurial mindset, I coldly threw out unnecessary personnel.