I Became Park Jeong-ui’s Nephew - Chapter 255



Only Krnovel

He became Park Jeong-ui’s nephew. – (255)

“Then, let’s start the meeting now.”

This is the headquarters of Daehan Transportation.

Park Jae-ok, the director of Daehan Transportation, listened to what the executives had to say.

How will Daehan Transportation run?

Although Chairman Wang, who reigns like an emperor at Hyundai Group, may oversee everything, this company has management and evaluation well separated.

The CEO sets policies and the board of directors evaluates them, but people think that Daehan Transportation runs according to the will of the head of state.

The original reality is known only to those inside.

Park Jae-ok listened to the management’s words.

“US real estate commissions have risen to 20%. Now is the time to turn to revenue conversion rather than expanding distribution.”

The distribution business is actually no different from the real estate business.

A method of receiving commissions from businesses that open stores in department stores, shopping malls, and large marts.

In the process of expanding its distribution business in the United States, Daehan Transportation acquired real estate, and its tangible assets exceeded approximately $12 billion.

Up until now, we have been purchasing real estate and expanding our business, so our operating profit has not been as high as we had hoped, but now is the time to unleash the strength we have built up.

Now, Daehan Transportation is a company that generates $2.4 billion in annual revenue from rental fees alone.

So, going forward, does that mean that the company can just collect rental fees every year and make its own fortune?

There was also talk of using that money to further expand the business.

“Real estate is important, but wouldn’t it be better to invest more in logistics centers now?”

“Yes, and that is also the iron rule of your management.”

If Daehan Transportation had only collected real estate commissions, would it have gotten to where it is today?

By building logistics centers and organizing distribution networks, American consumers can now have their items delivered to their homes without having to go to the store.

It’s not a big deal, but it’s an incident that turned the U.S. market upside down. Until now, it was natural for consumers to buy things at large supermarkets in the U.S. distribution market.

But now they deliver. Who would have thought that a day like this would come?

Thanks to this, Daehan Transportation’s sales have increased by $1.3 billion over the past five years, and its operating profit is approaching $8 billion.

Then you should invest more in the distribution structure and be satisfied with the rent from real estate?

That rent is less than 30% of total revenue.

However, the management’s position and basis for their argument that further market expansion was unnecessary were quite specific.

“The U.S. economy is currently struggling due to rising real estate prices and sluggish exports. Expanding business in this situation will not directly lead to profits.”

“That’s right. We have been focusing on aggressive expansion so far and have not been able to build up our internal strength. Now is the time to turn external investments into internal profits.”

Daehan Transportation’s sales this year increased by more than $700 million over last year.

But why is operating profit the same as last year at $8 billion?

Simple principle: If you make a profit and expand your business, will all the stores succeed? Some of them will fail, and the company has to take care of that.

Since we have expanded our stores, sales will naturally increase.

But if sales increase but profits do not increase, it is meaningless.

How much initial investment is required to open a distribution structure?

It cost 2 billion dollars to open a distribution network in California, and even that was ruined by stupid American politicians, so Daehan Transportation suffered huge losses.

It was fortunate that we made up for it in Texas and New York, but it was an event that made the management feel heartbroken even when I think about it now.

For Daehan Transportation, strengthening its foundation is now more important than expansion.

The problem was that the board members were leaning toward an expansion policy, but Park Jae-ok assessed the situation coolly.

“The boss I know is not one to support expansion without profit. If he were here, he would probably side with management.”

The board members looked at each other.

Park Jae-ok is a relative of the head of state,

Of course, corporations are not the political arena, and such ranks do not apply here.

The problem is that the management’s claims are so firm and the board of directors are qualified to evaluate them, and Park Jae-ok is qualified to say such things.

The same goes for former Hyundai Group Chairman Chung Ju-young, who now expressed his opinion in his capacity as a director of Daehan Transportation.

“I think Director Park Jae-ok’s opinion makes sense. We don’t know when the U.S. economy will recover from the recession, so expanding our business here is likely to lead to worsening profitability.”

The mood is moving towards closing the wallet,

In the end, the board of directors sided with the management.

The $2.4 billion in real estate proceeds will be used to refurbish the logistics center, bringing to an end an expansion policy that has been pursued for the past 20 years.

The meeting is over, so it’s time to go back to our seats. Director Park Jae-ok is also on his way home from work.

‘Am I doing well?’

Although Park Jae-ok had already been working at the company for 23 years and had achieved enough results to become a director, he continued to doubt his own abilities.

Did I really get to be a director because I was capable?

Or is it that he enjoys undue power by relying on his background as a relative of the head of state?

Can someone like me listen to the management and make a cool-headed judgment?

I did say in the conference room, “If it were you, I would have sided with the management,” but if you think about it, that was just a fox wearing a tiger’s mask.

So, this picture also had no choice but to follow it.

Park Jae-ok felt a little uncomfortable in this position.

“I think the days when I just received a salary were good. Now that I’m trying to run a business, it’s burdensome.”

Park Jae-ok, after much thought, submitted his resignation, wondering why he was going through all this trouble by taking the position of director for no reason.

***

“Director Park Jae-ok resigns?”

“Yes, Your Majesty, I think you’ve been under a lot of workload lately.”

“What’s there to be concerned about? The management does the work and you just have to make the decisions.”

This is the Daedeok County official residence.

I met face to face with the Korean Transport officials.

Jaeok is my uncle’s daughter, but she is a child I love like a younger sister. That doesn’t mean I put her in the director’s seat out of personal feelings.

Listening carefully to management and making the right decision is also an entrepreneur’s ability, and Jaeok showed it this time.

The management insisted that strengthening the business was more important than expanding it, and I am the type of person who gives full authority to the managers and just watches.

This is the secret to my ability to exert influence in both politics and economics. You can’t just meddle in everything and things won’t work out.

So, don’t you think that the managers will also do their best for the development of the company to repay my trust?

Jaeok knew that, which is why she said at the meeting, “If it were you, you would have listened to the management.”

At this point, I passed, so I returned the resignation.

However, Director Park Jae-ok repeatedly demanded his resignation and eventually summoned him to the official residence.

“Brother, I feel so burdened in that place.”

“What is so burdensome?”

“It’s so embarrassing, I don’t think my enemy would have done that… Even now, when I think about it, I want to crawl into a hole. What’s the difference between this and a fox wearing a tiger mask to show off?”

“The person I know isn’t that kind of person. That’s why I put you in that seat.”

It’s good to believe in your own abilities, but if you go too far, you’ll run wild, so I left the company’s affairs to the executives.

In some ways, it is a more democratic operating structure than the government, and thanks to the stability of the company, I can just focus on politics.

So, putting Jaeok in the director’s seat means that I will have more people I can trust, which will ultimately make me feel better.

But the person who was supposed to be my hands and feet would leave my side?

I absolutely did not allow it.

“You’re still in your 40s. What are you going to do after you retire?”

“Well… I’m just thinking about it. Anyway, being a corporate director doesn’t seem like a good fit for me.”

“If you don’t have anything to do, just do it. And you’re doing well now. You may not be used to having this kind of power since you just became a director, but it will continue to grow as you do it. You’ve done well in accounting work so far, right? That’s not something just anyone can do. You went to a computer academy after work to do accounting well, right? Even if I pretend not to know, I know everything. You’re a kid who tries hard to do everything well.”

How confusing would it be for a kid who has worked as a salaryman his entire life to be promoted to the position of director, even though he has eaten meat before?

But if you look at the meeting report, Jaeok did quite well.

That was enough, the guy changed his mind.

***

‘Okay, let’s try hard.’

This is Daedeok-gun, and Director Park Jae-ok is on his way to work today as well.

At home, she is treated as an unmarried spinster, but at work, she is a recognized businessperson. It took her 23 years to get to this point.

If I quit here, what will happen to my life? More than anything, I gained the courage to live each day thanks to the existence of my older brother who believed in me.

“Sister!! Sister!!”

An urgent voice that grabs the ankle of a busy office worker on his way to work.

What would a guy who was just lazing around after being discharged from the military have to do with his older sister? Park Jae-ok continued his conversation with his younger brother calmly.

“what’s the matter?”

“Sister, can I also get a job at Daehan Transportation?”

“Weren’t you taking political lessons from Sanggeun oppa?”

“I think working at a company would be a good idea, so can I take a tour?”

“Oh my~ Do you know what kind of playground a company is? That’s enough.”

“Ah!! Sister!! Wait a minute!!”

The younger brother who followed his older sister,

Even though they are brothers with different mothers, they have been together for the past 20 years, so isn’t it too cruel? Park Jae-ok pretended to be cold, but she adjusted her steps so that her younger brother could follow.

By the way, is your younger brother really thinking of getting a job at a company?

The conversation continued in the car.

“Are you really going to get a job at the company?”

“Yes, I might go into politics later, but first, I want to learn how to deal with people by experiencing it in the field.”

“Can you teach me that?”

“Oh, my lord also told me to learn a lot from you, sister.”

“Is that true?”

“huh.”

Park Jae-ok felt slightly moved.

As expected, the only one who believed in me was my older brother Sanggeun. From that day on, he took his younger brother with him like his secretary and taught him many things.

Running a business is not about one person’s decision, but about the members’ consultation and trust. Isn’t that what the leader intended?

Park Myeong-ui nodded his head after seeing the structure of the company.

Everyone laughs at Korea and calls it a dictatorship, but that is a statement made without understanding reality. Where can you find such a democratic organization?

But the world has not revealed its true nature to Aesong, who has just graduated from college.

The reason why the head of state runs the business democratically is because he cannot control both the government and the business.

But would a government under its own control treat it that way?

Since businesses need to attract as many consumers as possible, segmenting consumers is not very effective.

If Pepsi airs an ad disparaging Coca-Cola, will Pepsi sales go up?

But the political world is a stage where that works, and in a democratic society, all you need is a majority, so if you have the majority party, splitting the party works.

So, in Korea, businesses and governments operate differently, and Park Myeong-ui was too young to realize that, so he was unable to realize the reality.

Just hold the head of state up and worship him like the sky,

It was the same for other people.