The Magician’s Memorial - Chapter 330



Only Krnovel

330. Filling the barn (4)

President Han Jeong-hoon returned from the United States.

After making a detailed plan with Quantum Fund for nearly a month, his face was half astonished when he returned.

For regular replenishment, we arranged a meal at Captain Kang’s Korean restaurant.

President Han Jeong-hoon’s face turned red after he devoured the Oriental Medicine Neungi Baeksuk and drank the soup.

“I think Koreans should eat Korean food after all. I feel like all the fat in my intestines has gone.”

“When do you say you started liking Korean food? How many years did you spend at SAVE Investment Company?”

“Back then, when I was young, I could digest anything I ate, but now that I’m older, my stomach isn’t what it used to be.”

Han Jeong-hoon was the youngest person to hold the position.

It was a ridiculous complaint, considering that my classmates were now wearing deputy chiefs.

“Enough of the white talk, what did you decide to do with Quantum Fund?”

“The plan was very perfect. In Japan, Taewoo Securities decided to take care of it, and in the case of Europe, we decided to target Greece step by step. However, in order to proceed as planned, it seems that we need to have a little more seed money. ”

As with all businesses, you need money to make more money.

In order to play money across Europe, a large amount of money was needed.

“Even if we use up all of Taewoo Group’s reserves, it wouldn’t be enough.”

“That’s right. Even if you borrow money from a fintech bank using some of your assets as collateral, it’s not enough.”

I was a person who absolutely hated debt.

This was because I knew what difficulties Taewoo Group had suffered due to debt before its return.

However, borrowing money from fintech banks was an exception.

In some ways, the fintech bank was no different from my own ownership.

Because it was no different from moving money from the left pocket to the right pocket.

“Then I guess I’ll have to look for more ways to make money.”

“First of all, I think we need to use some of the assets that the Chairman owns. In the larger sense, aren’t Cocoa Bank’s assets also our assets?”

“That said, Cocoa Bank’s deposit size is not that large compared to other banks.”

“Taewoo Securities also plans to raise funds more aggressively.”

It was a time when we had to raise as much money as possible.

In particular, if Cocoa Bank’s deposits increase further than now, the burden will definitely be reduced.

“Cocoa Bank and Taewoo Securities will work together to run the fund.”

“I was already planning that, but most of Cocoa Bank’s subscribers are young and not very interested in the fund.”

“If you’re not interested, why not create interest?”

“Do you have any clue?”

There was one way to significantly increase the number of Cocoa Bank subscribers.

This is a great way to attract a large number of subscribers without having to spend a lot of money on promotion or investment.

“We could give Cocoa Bank subscribers a card with a cute character on it. And people who subscribe to a fund linked to Taewoo Securities would get a card with an even cuter character on it.”

“······Will the number of subscribers increase just because we give out cute character cards?”

A president blinked and said.

He had worked in the stock market for a long time, so he was well-versed in all aspects of dogfighting, but it seemed like it was his first time hearing about the cuteness method.

“Isn’t this a time when emotion is more important than function?”

“You can tell that emotions are important just by looking at the iPhone, but does that mean cute emotions are also relevant?”

“It’s guaranteed to work. So, launch new characters through Taewo Group’s professional designers. Don’t just create characters, try to create appropriate storytelling as well.”

You could even say it was childish.

However, I was able to push through because it was a method that already worked before the regression.

“Okay. Then, we will release a new character in addition to the existing character.”

“Of course, cute characters alone are not enough. If we include a principal guarantee option, we will be able to recruit a large number of subscribers.”

“It is not difficult to attract subscribers if you launch a product with guaranteed principal, but if something goes wrong, there will be huge repercussions.”

“Can’t we just prevent that from happening?”

“We will check the investment plan again in detail from the beginning.”

A CEO’s expression suddenly changed when he heard the words “principal guarantee.”

Of course, even if this incident goes wrong, Taewo Group will not go bankrupt.

They would have had to tighten their belts and drastically reduce development costs for just a few years, and they could have been pushed back in the business rankings.

Taewoo Group has only moved forward until now.

However, if there was a backslide, part of the responsibility would have to fall on the CEO, so I had no choice but to take it seriously.

“As the risk is high, if you win, you can gain a lot. Even the rank of a president can change.”

“I will make sure to win!”

What if the warehouse filling project is successful?

Even if President Han Jeong-hoon was promoted to vice president, everyone would have been convinced.

Knowing that fact, desire began to shine in President Han’s eyes.

* * *

After the Lehman incident, all companies were experiencing difficulties.

Among them, the shipping industry was hit hard, and the situation of Korea’s largest shipping company, Hyunjin Shipping, was beyond serious.

Moreover, it was Hyunjin Shipping, which was going through a management dispute.

Chairman Choo Young-hee, the captain of Hyunjin Shipping, had no choice but to neglect the company’s development in order to protect his management rights.

Thanks to that, we succeeded in defending our management rights.

Hyunjin Shipping completely lost its growth engine and eventually asked for help from Hyunjin Group Chairman Cho Young-soo, who was fighting over management rights.

“Mr. Jesu came to visit me, and I think the sun rose in the west today.”

“You created a situation that had no choice but to come. Because of your greed, Hyunjin Shipping was completely ruined. How will you take responsibility?”

“Usually the manager is responsible for the loss. But this is the first time we’ve seen this mentality of shifting responsibility to the opposing manager.”

Chairman Cho Young-soo and Choo Young-hee.

It was a relationship between an uncle and a sister-in-law, but it was also a worse relationship than others.

They were two people who were anxious to kill each other due to a dispute over management rights at Hyunjin Shipping, so everything they said was full of thorns.

“So you’re saying you’re going to keep doing this?”

“Let me make a suggestion to you, Mr. Jesu. I will give you the Hyunjin Shipping building, so just step away. Just the rental income will be enough to support three generations.”

“Are you saying I should just finish the Hyunjin Shipping building and then step down? I would rather sell Hyunjin Shipping to Charlotte Group.”

Chairman Choi Young-hee was also a member of the Charlotte family.

Although she married into the Hyunjin Group, her original family was the Charlotte family, so what she said was by no means nonsense.

“Can we give you about 5 billion won more as severance pay? Hyunjin Shipping will be able to survive only if Mr. Jesu resigns from Hyunjin Shipping as soon as possible. Isn’t the deficit increasing significantly every year?”

“If you hadn’t been greedy for management rights, this wouldn’t have happened!”

“Don’t you think that this happened because Mr. Jesu is not managing the business properly? Stop being greedy and step down. If things get further ruined, I won’t be able to do anything about it.”

Chairman Choi Young-hee gritted his teeth.

After the Lehman incident, the shipping industry experienced a recession unlike any before.

As Chairman Cho Young-soo said, Hyunjin Shipping was destined to cross an irreversible river.

“Phew, can you promise 5 billion won in severance pay for the Hyunjin Shipping building and shares in Hyunjin Holdings?”

“Mr. Jesu, you are truly amazing. Well, since it is a family matter, I will make a concession. I will even promise you a share of Hyunjin Holdings. But in return, you must clean up after yourself.”

“What do you want me to do after that?”

“If Hyunjin Shipping is to survive, shouldn’t it get help from the government? Then we’ll have to go to several hearings, and wouldn’t it be a pretty picture if I take over Hyunjin Shipping after Mr. Jesu takes responsibility?”

Hyunjin Shipping is like a poisoned chalice.

Chairman Cho hoped that Chairman Choi Young-hee would drink the poison in the chalice.

In return, I received 5 billion won in severance pay from the Hyunjin Shipping building, so it was not a bad condition at all.

“You’re asking me to be the boss of the pants for a few years.”

“They said that the recession in the shipping industry will continue for the next 2-3 years. Until then, you just have to act as a face to face.”

“······I will do whatever you want. Instead, please resolve your relationship with the Taewo Group on your own. I don’t want to bow down to the Taewo Group.”

“I heard that you borrowed money from Taewoo Group using a ship as collateral. I will meet with Chairman Kim of Taewoo Group to resolve that issue.”

It was Chairman Cho who answered in a bright voice.

He felt much lighter now that the issue of management rights to Hyunjin Shipping, which had dragged on for several years, had been resolved.

“Now you can take care of it. I will really only act as a face lady.”

“But still pretend to go to work. You get paid in hundreds of millions of dollars, so you can do that, right?”

“Don’t worry, I will behave well so that no gossip comes out.”

Chairman Chu stands up from his seat.

Chairman Cho smiled at her angry steps.

* * *

Taewoo Securities has begun collaboration with Cocoa Bank in earnest.

A fund product was launched only for Cocoa Bank subscribers, and cards with cute characters were being issued.

When 3 days passed like that.

Han Jeong-hoon, CEO of Taewoo Securities, came to see me scratching his head.

“Far more customers than expected are signing up for fund products. And the number of customers using Cocoa Bank is also increasing significantly.”

“Looking at their expressions, it looks like they don’t know why the number of subscribers is increasing.”

“We conducted a survey of subscribers, and 40% said it was because of the principal guarantee condition, and 30%… because of the cute card issuance.”

A survey showed that cute cards are as effective as principal guarantees.

President Han could not believe the results of the investigation because, unlike the principal guarantee conditions that involve enormous risk, cute cards carry no risk.

“You can say that fund subscribers signed up because of the principal guarantee, but Cocoa Bank customers probably signed up because of the cute card.”

“This is what Taewoo Securities investigated. We don’t know when Koreans started liking such cute emotions.”

“Under the same conditions, wouldn’t it be natural to like cute cards?”

The era of emotion.

Nowadays, emotion is more important than function, and we live in an era where cuteness is also widely used.

“Thanks to the chairman’s brilliant plan, I think we will be able to make up for the shortfall in funds. If we continue to receive fund subscribers until next year, it is possible to exceed our goal. Of course, this is assuming that the Japanese project is successful.”

“The Japanese project will start soon.”

“There are no signs from Japan yet. If nothing happens in Japan, there could be a major setback to this plan. So, wouldn’t it be better to scrap the Japanese plan?”

The Japanese project is still only planned.

So, if we withdraw now, we can focus only on the European market without suffering any loss.

But why would you withdraw? I had no intention of missing out on such a great opportunity to secure the funds I was lacking.

“Continue to proceed with the Japanese project. A warning signal will sound sooner or later.”

“Then we will proceed as planned. And I received a call from Cho Young-soo, Chairman of Hyunjin Group. He said he would like to talk about Hyunjin Shipping.”

Is Hyunjin Group finally moving on?

I thought I would get a call at some point, but the call came much sooner than I expected.

Well, no matter when I get the call, the outcome of me only taking advantage of Hyunjin Shipping will not change.