The Magician’s Memorial - Chapter 53



Only Krnovel

Episode 53 Become a master (1)

If you sit in the chair of Taewoo Electronics, you will see that he is the CEO of Baji.

I couldn’t go against my grandfather’s will, and I couldn’t even try to reform in the direction I wanted.

So I needed a stake, and for the first time in my life, I started going out of my way to get the stake from my grandfather.

“I am young and have little influence. “You can manage Taewoo Electronics properly only if you hold a tight stake.”

“The shares will be passed down when the time comes. The only bloodline I have left is you, so why worry? “Do you really want me to donate to the country?”

My grandfather would never do that.

Although he is pouring money into various donation activities and scholarship foundations, he feels like giving money back to the government is a waste, so he gives up.

“I know very well that I am being unreasonable right now. However, after experiencing President Park Jin-hoon, I realized that a title alone is not enough. “In addition to the title, I need to hold a stake so that no force can ignore me.”

“Do you mean someone ignores you? I had a separate meal with several CEOs of affiliates. “They all said that you were scarier than the Grim Reaper.”

I did a lot of sword dancing.

As soon as I joined the company, I visited Changwon and worked on one case with the audit team.

Now that I have even become the CEO of Taewoo Electronics, my presence must have been clearly imprinted.

“I have no intention of running a business based on fear. I want to develop the company based on innovative products like InnoPhone and advanced management. To do that, we need full authority.”

“You don’t necessarily have to have a stake to use full power. “Wouldn’t it be okay to announce at the CEO’s meeting that I will delegate full authority to Taewoo Electronics’ management to you?”

“Only when I become the true president of Taewoo Electronics can we continue to develop products like the second Innophone. “We will make Taewoo Electronics the world’s No. 1 electronics company, as well as Samjin Electronics.”

It wasn’t a lie.

I will make Taewoo Electronics the best company in the world.

However, it will be a multinational company rather than an affiliate of the Taewo Group as it is now.

“Are you that confident?”

“You asked me that question when I first decided to make Innophone. I don’t start things simply with confidence. “We start after analyzing everything based on the report produced by the lab.”

“Clearly, as the report states, the potential of the mobile phone market is enormous. But I wonder why I haven’t received a report like this until now.”

“There are forces intentionally trying to block my grandfather’s eyes and ears. “To win against them, Taewoo Electronics’ shares are essential.”

All conversations ended with stakes.

In the end, my grandfather looked like he had half given up.

Just as there are no parents who can win over their children, there are no grandfathers who can win over their grandchildren.

“Okay, I understand. I will inherit my shares in Taewoo Electronics to you. But you have to pay the inheritance tax on your own. “You can do that, right?”

“Until now, I have been saving up the allowance I received from my grandfather. “I can pay enough inheritance tax.”

“I guess you still don’t know how scary Korea’s inheritance tax is. “The inheritance tax will be higher than you think.”

“If you can’t even solve that problem yourself, how can you become the president of Taewoo Electronics?”

“Huh, really. “Good job, you guy.”

My grandfather took the lead and headed to the conference room.

The presidents were already seated in every seat in the conference room, waiting for the grandfather.

As soon as my grandfather sat down at the head table, he got to the point.

“Hmm, we have decided to appoint General Manager Kim Min-jae as the president of Taewoo Electronics. “Do you have any opposing opinions?”

[I agree.]

[Director Kim Min-jae is the right person to be the president of Taewoo Electronics.]

[The future of Taewoo Electronics will be very bright.]

Once again, a competition for loyalty took place.

As several affiliate presidents rushed to agree, even the neutral presidents did not say anything.

“Since there are no objections, I will begin the inauguration process within this week. and! … “I will hand over all shares I own in Taewoo Electronics to Director Kim Min-jae.”

[You made the right choice. If you hand over shares of all affiliates at once, you will not be able to pay inheritance tax.]

[Director Kim Min-jae will be able to manage the company with a sense of responsibility.]

[The company’s shares depend entirely on the chairman’s wishes. It is not ours to interfere.]

This time too, the rattles moved their mouths.

However, voices of concern emerged from among the presidents who had maintained neutrality.

“Isn’t it too early? “Taewoo Electronics shareholders may be agitated.”

“If it’s Taewoo Electronics’ stock price, I will take responsibility for raising it. “If we actively promote Innophone’s sales, the stock price will actually rise.”

I quickly launched a defensive attack.

If I cross the 9th ridge and don’t receive a share, I feel so unfair that I can’t sleep.

“There doesn’t seem to be much opposition. Then, I will go through the share inheritance process through the legal team. Director Kim Min-jae, no, he’s the president now. “Tell me your determination to become the president of Taewoo Electronics.”

My grandfather gave me the right to speak as if to tell the CEO not to say anything else.

I took a moment to catch my breath and said something the president would like.

“We will make Taewoo Electronics go beyond Samjin Electronics and become the world’s best electronics company. We will transform our company into a company with technology that is ahead of its time, rather than just a sturdy product. If you see anything I am lacking, please give me advice at any time. “I will always listen to the advice of my seniors.”

I called the presidents my seniors.

It means I won’t treat you badly. Because that’s probably what they wanted to hear the most.

Perhaps that is why the response from the presidents was very favorable, and I was inaugurated as president of Taewoo Electronics with thunderous applause.

* * *

After the presidents’ meeting.

My grandfather caught me as I was going back to the lab to pack.

“You have a place to go with me today.”

“If the president asks me to go with him, of course I have to make time.”

“I’m going there as my grandson, not as the CEO of Taewoo Electronics, so I can eat in peace.”

Where are you going?

Seeing the grandfather smiling, it seemed like he was doing it because he wanted to brag about his grandson.

I am proud of the fact that I became the president of Taewoo Electronics in my early 20s.

I got into the car without even asking where I was going.

It wasn’t until I arrived that I realized who my grandfather wanted to show off to.

“It’s the mansion of Hyunjae Group Chairman Jang.”

“I see you know where this is.”

“It’s a mansion that often appears in the news, so of course I know about it.”

Hyunjae Group, No. 1 in the Korean business world.

This was the residence of Chairman Jang Young-joo, who created a huge empire starting with rice delivery.

“Don’t be too nervous. “Today is just a casual greeting.”

“Why should I be nervous when my grandfather is next to me?”

“Then let’s go in.”

Is this what it feels like to be overwhelmed by the atmosphere?

Although it is the mansion of Chairman Jang, who leads Korea’s No. 1 company, it was difficult to find any luxury items.

Rather, it was a mansion that was so frugal that it created an atmosphere that oppressed people.

The atmosphere of the room welcoming guests was also the same.

An old sofa and an old coffee cup.

However, the energy of the owner of the room made all the items feel like luxury items.

“Is Chairman Kim here? You’re finally getting to see the grandson you’re so proud of. “I heard he graduated from college at a young age and has already become the director of a research institute?”

“Looks like the current group isn’t as good as it used to be. “This time, I was inaugurated as the president of Taewoo Electronics.”

There were two presidents who seemed to be fighting for some reason.

“hello. My name is Minjae Kim. “I wanted to meet you.”

I greeted them politely and made the atmosphere cheerful.

“I heard you made Innophone? “Maybe it’s because I ate foreign food, but I fell in love really well.”

“Thank you for the compliment. “Thanks to people like Chairman Jang and my grandfather who paved the way, we were able to create products like InnoPhone.”

“You speak beautifully.”

Wounded tiger.

This was Chairman Jang’s first impression.

Chairman Jang suffered political retaliation for running for president for no reason.

Political retaliation was still ongoing, and Chairman Jang’s children were in and out of the prosecutor’s office for violating the political fund law.

Political revenge did not only cause hardship to children.

The government even blocked the current group’s funding stream.

All banks in Korea did not lend a single penny to Hyunjae Group, and the company was somehow able to survive thanks to a loan from CT Bank, an American bank.

However, such lending regulations actually acted as a blessing in disguise.

Other large companies expanded their scale through borrowings, but when the foreign exchange crisis hit, they collapsed due to the borrowings.

However, the current group suffered less damage due to lower borrowings due to government regulations.

“I can’t tell you how fortunate I am to have someone like Chairman Jang.”

“It’s good because I block all the strong rain and wind. “Now I want to take a break and smell the breeze.”

It was Chairman Jang who indirectly expressed the difficulty of political revenge.

My grandfather also clicked his tongue because he knew what kind of hardship and humiliation Chairman Jang was going through.

“Then why do you create this sadal just because you are involved in politics?”

“Isn’t it the same for you too?”

“But didn’t I give up right before the presidential election? My grandson tried to stop me. “He threatened to leave the house if he runs for president.”

I did stop my grandfather from going into politics.

However, I didn’t threaten to leave the house.

It may be a bit of an exaggeration, but what can I say when a grandfather wants to brag about his grandson in front of Chairman Jang?

“Couldn’t you have stopped me too? This administration should end quickly. “I can’t breathe because they’re holding onto the money string and won’t let me go.”

“The company has already grown to this level, so why do we need more money? Latecomers like us need borrowing money.”

“This guy. Why are you talking like that? The moment a company stagnates, it’s over. “To advance further, we need more money to prevent latecomers from following us.”

These people are very greedy.

So, it would have been possible to create a large company.

But honestly, I didn’t want to stop Hyunjae Group Chairman Jang’s greed.

Rather, I felt like encouraging it.

Although I must take responsibility for my grandfather’s greed.

Chairman Jang’s greed has nothing to do with me.

“Korean banks have no choice but to follow government regulations, but aren’t loans possible from foreign banks?”

“Do you think it’s any different just because it’s a foreign bank? Banks don’t want to fight with their own governments or with other governments.

“It’s very different from what I saw and felt on Wall Street. Rather, it was the people on Wall Street who were anxious to fight the government.”

Wall Street won the fight against the government.

George was fighting in Europe, Germany, France, and now Japan and Mexico.

“If it’s about Wall Street, I’ve heard it too. They were very catty guys. The place they visited was completely ruined. “No matter how urgent the money is, how can you possibly borrow money from such people?”

“CT Bank is also a part of Wall Street. “Whether it’s a bank company’s money or a fund’s money, it’s all the same money.”

I threw out a little bait.

If he wanted, he was willing to lend a large amount of debt, even if it meant investing money from SAVE Investment Company.

Because the amount of borrowings will soon become a crisis for the current group.