The Magician’s Memorial - Chapter 229
Only Krnovel
229. First shovel (3)
Samjin Group and Hyunjae Automobile Group.
Although the two groups did not seem to have competing businesses, the Samjin Group was reaching out to the current automobile group’s business.
Capital.
Hyunjae Motors Chairman Jang Gyeong-jun came to me and asked me for a favor, and the war is not over yet.
Therefore, Chairman Kyung-Jun Jang responded as soon as I requested a meeting, and we were able to meet today.
“Congratulations! I heard that Taewoo Group obtained the land for Charlotte Group.”
“Thank you, but it’s really difficult. We need permission from the Air Force and Seoul City, but it’s not easy.”
“No matter what kind of business you do in Korea, licensing is a problem. Still, if you work hard for a few years, wouldn’t you be able to find a way?”
“I’m going to wait and hope so.”
It was Chairman Jang Gyeong-jun, whose eyes were full of envy.
Since he was hoping to build a new headquarters for the current automobile group, his eyes were burdened.
“How are things going on the capital side? I heard that Samjin Group is coming out strong.”
“They’re pouring a lot of money into it. Samjin Group’s financial power is certainly formidable. Moreover, GM is also attached to them, so it goes without saying.”
“But wouldn’t Hyunjae Automobile, which owns a finished car company, have an advantage?”
“That’s true, but in the end it’s a fight where the side with the most bullets has the advantage, so I’m really worried.”
I confirmed that they are still fighting fiercely.
However, in my view, it was not yet an all-out war.
“It may be a bit awkward to say in this situation, but from the standpoint of Taewoo Motors and Kai Motors, we cannot reject capital companies.”
“That’s obvious. How many people can buy a car without financing?”
“So, we plan to completely open up. We plan to sign agreements with all capital companies and sign partnerships with companies that offer the best conditions.”
“Isn’t there a capital company in Taewoo Group? But are they planning to join hands with another capital company?”
Of course, Taewoo Group also had a capital affiliate.
It was natural for a company that sells finished cars to have a capital company, but Taewoo Group’s capital company was not that large because it had not yet joined hands with foreign capital.
“It is difficult for Taewoo Capital alone to handle it. However, since it is already too late to join hands with foreign capital, won’t we have no choice but to join hands with other capital companies?”
“Then how about joining hands with Hyunjae Capital? We will offer you the best conditions in the industry.”
“I want to do that, but how can I make this decision on my own? I should listen to the conditions of all the capital companies and then choose the one that offers the best terms.”
“Then there is nothing we can do. But there is no place that offers better conditions than our current capital.”
A capital war that has not yet become an all-out war.
In order to hasten the start of the war, they put up the bait of a partnership with Taewoo Motors and Kai Motors.
* * *
After finishing my meeting with Chairman Jang Kyung-jun.
For the first time in a very long time, I headed to the old house where the bear lived in Gwanghwamun.
It was an old house that had not changed at all from before, but the person sitting in the pavilion had changed.
Lee Young-han, the grandson of Gwanghwamun Bear.
Sitting next to him were three people who once shared Myeongdong.
“It’s been a long time! Why is it so difficult to see Vice President Kim’s face? Aren’t we being too neglectful of old people who only have a short time left to live?”
“How could I neglect it? I was always thinking about how I could take better care of Chairman Lee Young-han and the elderly.”
These were former loan sharks whose expressions changed instantly.
In particular, Lee Young-han, the owner of Myeong-dong, who is still engaged in the private loan business, was even rubbing his hands and waiting for the next word.
“What are you trying to take care of? Myeong-dong is always ready to step forward with open arms if Vice President Kim asks us to do anything.”
“Do you all know that Samjin Group and Hyeonjae Automobile Group are closely aligned with the capital side?”
“I know. Just because a shrimp’s back explodes in a whale fight, ours is just exploding for no reason.”
They were a three-person group from Myeong-dong who jointly managed a third-tier financial institution.
Of course, he also owned a capital company and was having a hard time attracting foreign capital from large corporations.
“This time, Taewoo Motors and Kai Motors are planning to enter into a partnership with a capital company.”
“Are you willing to sign a partnership with us?”
“No matter how much I like and respect the elderly, if I enter into a partnership without justification, I will have to go to jail on charges of breach of trust. I don’t want to go to jail just yet, so please understand.”
“Eye! That’s good. Why are you saying that when you don’t give anything away? Big companies are also collaborating with foreign capital to raise capital, so how can we fight against them and win?”
The Myeongdong trio looked disappointed.
However, their expressions will change again with the next words.
“That’s why I’m trying to provide foreign capital. That’s Wall Street capital.”
“Oh! It would be worth a try if funds from a Wall Street investment company were flowing in. So, how many bullets can you support?”
“We can support about 100 rounds.”
“100 rounds? Whose nose are you putting on with only 10 billion won?”
“What kind of joke are you making? Of course it’s 10 billion dollars. It’s probably about 12 trillion won.”
In the financial world, trillions were not that big of a sum.
However, it was not often that 10 billion dollars came in at once, and especially if more than 10 trillion won came into the third financial sector, the game could change in an instant.
It is said that Samjin and Hyunjae Motors receive support from foreign capital.
The amount did not exceed 5 trillion won.
Because it was also an installment support, the amount received in one year could have been less than 1 trillion won.
But what happens if a third-tier financial institution receives more than 10 times more funding?
“Isn’t that too much? I understand that the size of the capital market is less than 10 trillion won per year.”
“Wouldn’t that amount be enough to shake things up?”
“And what if you fail?”
“You don’t have to worry. You can just return the principal later.”
“Of course I can return the principal amount. Hehe, the day is coming when I can borrow 10 trillion won without a single penny of interest.”
There was no chance of the capital company going bankrupt.
In particular, people who lived in Myeongdong would do whatever it took to recover their principal, and I was able to shake up the capital industry in exchange for a temporary loan of 10 trillion won.
“There is only one thing I would like to ask. Please make Samjin and Hyunjae Automobile Capital pour in as much money as possible.”
“It looks like they have something else up their sleeve. So are they asking us to do our best to take bullets? 10 billion dollars is no different from the standard price.”
“You may call it compensation, but we will boost the used car market.”
The real purpose of the $10 billion was to block the other party’s funds.
When third-tier financial institutions entered the capital market with low interest rates, large corporations naturally had no choice but to follow suit by pouring in money.
Simply put, a game of chicken.
By creating a game of chicken in the capital market, Samjin and Hyunjae Motor Group are unable to afford to purchase the KEPCO site.
“Well, it’s not bad. You have to deal with big companies, but for $10 billion, it’s worth it.”
“Wouldn’t the value of the name increase just by fighting against large corporations? Myeong-dong will also actively support it.”
Lee Young-han also promised to provide support fire.
Myeongdong’s financial power, Myeongdong Three, and 10 billion dollars.
These were sufficient conditions for the capital war to begin in earnest.
* * *
SAVE Investment Company had several paper companies.
Among them, there were shell companies located on Wall Street.
There, $10 billion was sent to the Myeongdong Three.
Only 3 days.
This was the time it took for 10 billion dollars to be deposited into the company of the Myeongdong trio.
Taewoo Group’s planning office moved in secret and began promoting it.
“All newspapers published advertisements for attracting $10 billion.”
“Good job. Try running radio and TV commercials.”
“We have taken steps to ensure that the advertisement will be released next week at the latest.”
“What was the reaction of Samjin and Hyeonjae Automobile Group?”
“There was a lot of chaos. The lights in the office used by Samjin, Hyunjae, and the capital company are not turned off 24 hours a day.”
The reaction was as expected.
The war that was expected to be a two-way war spread into a three-way war.
Naturally, all plans had to be revised, and the amount of capital invested had to change.
“The fire has not spread yet. Spread the news to all media outlets that Taewo Motors and Kai Motors are signing a partnership agreement with a new capital company. That way, lava will not fall, not fire, right?”
“I’ll proceed right away. But it seems like President Park of Taewoo Securities is a little dissatisfied.”
Taewo Capital was affiliated with Taewoong Securities.
So, of course, it was not good news for Taewoo Securities.
Because the plan was to join hands with another company’s capital over Taewoo Capital.
“Ask them to be patient just this once. Also tell them that they will repay you with bigger business soon.”
“CEO Park is a person who will believe what the Vice President says, even if you say that you make meju with red beans. I will convey the message well.”
We opened our cards one by one.
Then, the Myeongdong trio launched a new car installment product that was 1.5% cheaper than the existing interest rate.
Following this, Samjin and Hyunjae Motors also launched affordable new car installment products.
But it wasn’t the end.
The Myeongdong trio even offered discounted interest rates on car loans.
Samjin and Hyunjae Motors Capital had no choice but to cry and follow along.
* * *
A month passed like that.
The capital war became more intense as time passed, and products with interest rates as much as 3% cheaper than the existing interest rate began to come out.
While Myeongdong and large corporations are waging war in the capital.
We did our best to prepare for the public bidding for the KEPCO site.
In particular, my grandfather lived in the planning office and personally took care of the public bidding.
“It may cost more money than expected. Samjin and Hyunjae Motors are said to be pouring in capital, but wouldn’t they be able to separately borrow about 4 trillion won?”
“The current market price of the KEPCO site is 2 trillion won no matter how much you put on it. Even twice as much, 4 trillion won, is an amount beyond common sense.”
“Still, I’m worried. I feel like I want to spend three times as much to secure the land.”
It wasn’t a bad method.
Before returning, Hyeonjae Motors purchased the KEPCO site for 10 trillion won.
Even if it was tripled, it was only 6 trillion won, and it was purchased 4 trillion won cheaper than before the return.
But there was no need to ask KEPCO to do something good.
If 6 trillion won had been spent, there would not have been a capital war.
“4 trillion won is enough to secure KEPCO land.”
“Is there another way?”
“I don’t have a method, but Hyundai Motor Company will suggest a method.”
“What are you going to do if the current car doesn’t provide a way?”
“Then I will use the 6 trillion won as my grandfather wanted.”
Article 4 or Article 6.
The way to save as much as 2 trillion won was in the hands of Hyeonjae Motors.
It was unclear whether it would move the way I wanted, but looking at Chairman Jang Kyung-jun’s tendencies, the possibility of it moving that way was very high.
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