The Magician’s Memorial - Chapter 54



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Episode 54. Become a master (2)

“I guess I’ll just go. “Take care of yourself.”

The meeting with Chairman Jang ended briefly.

The old man must have really come to Chairman Jang’s mansion to show off to me, but he got up after just drinking a cup of tea.

“Minjae. What was the purpose of telling Chairman Jang the story of Wall Street? Could it be that you truly said that to help Chairman Jang?”

“Grandpa, what should we do for Taewoo to become number one in the business world?”

“I don’t know why you’re suddenly asking such a question, but you just have to grow step by step. “If everything goes according to the plan I have made, I can occupy the second place in the business world within two years, and within 10 years I can rise to a higher position than the current group.”

Grandfather’s plan was half right and half wrong.

In two years, Taewoo Group will rise to second place in the business world.

However, it lasted only three days, and after that it was torn apart and disappeared.

“If the Hyunjae Group remains as strong as it is now, I think it will be difficult for Taewo to rise to the top of the business world even if it takes 20 years, not 10.”

“Are you speaking from the perspective of the director of an economic research institute?”

“That’s right. “As Taewoo grows, Hyunjae Group will also grow.”

“Tell me more.”

“Only if the current group is divided can grandfather’s goal be achieved more quickly.”

Division of the current group.

This was a historical fact that would happen sooner or later.

Even without my intervention, the current group will be split into several groups, and its ranking in the business world will plummet.

“Are you saying that the borrowings will encourage division of the current group?”

“That’s right. “I am my grandfather’s only blood relative.”

“Chairman Jang’s children have a very prosperous farm. He has eight sons and three daughters.”

“So what would happen if the current group were split into 11 groups?”

“… … If that happens, it would be a very good thing. Chairman Jang is not such a soft person. “I will pass on a large chunk to my eldest son and give small portions of the company to my other children.”

eldest son succession.

This did not only happen in Korea, where Confucianism prevails.

In companies in the United States as well as in Europe, there were many cases where companies were passed on to the eldest son, and many people thought that this was the best way to protect the company.

“You want to pass it on to your eldest son. But it’s never easy. Especially if it turns into a legal dispute, the eldest son will not be able to fully protect the company. “Even if Chairman Jang leaves a will.”

“I understand what you mean, but what does eldest son succession have to do with borrowing money?”

“In the end, money is needed to appease children other than the eldest son. That money will be covered by borrowings. But what will happen to the current group if the loans and small affiliates are distributed to the children?”

“You’ll be left with a huge amount of debt.”

Let’s say you inherit money and an affiliate to your child.

Even if that were to happen, the loan would ultimately have to be borne by the current group headquarters.

“Once Chairman Jang receives the loan, he will purchase a healthy company through mergers and acquisitions and pass it on to his children. But can all second-generation chaebols run their companies properly?”

“As you said, there are many companies that falter the moment a second-generation conglomerate participates in management, but we must also keep in mind the possibility that this may not happen.”

“That remains to be seen. Well, don’t take it too seriously. What needs to happen right now?”

“You don’t know Chairman Jang’s ability to act. The moment you brought up the story of Wall Street, Chairman Jang may have already sent someone to the United States. “He might regret what happened today.”

“I have no regrets. It doesn’t matter if the current group manages successfully by borrowing huge amounts of money. “I am confident that I can make Taewoo Group No. 1 in the business world with my own hands.”

Grandfather did not continue talking.

He just looked at me with a worried face.

I don’t know who is worried about whom right now.

Instead of worrying about your grandson’s overflowing confidence, you should worry about your grandfather’s overflowing greed.

* * *

A few days later.

I confidently entered the Taewoo Electronics building.

Vice President Woo Seong-il must have wanted to show his loyalty, so he lined up all his employees to welcome me.

“Everyone must be busy, so why are you gathered together? Please send him back to the office quickly.”

“Still, it’s the boss’s first day on the job, so shouldn’t you see his face?”

Vice President Woo Seong-il escorted me.

While listening to the applause of the employees, I took the private elevator and went up to the president’s office.

“I would like to congratulate you on your appointment as President of Taewoo Electronics.”

“I think it’s something to be celebrated. “I felt comfortable in the position of head of the research institute, but I feel a little uncomfortable in the position of president of Taewoo Electronics.”

“You will be promoted to the position of president, so you should get used to it quickly.”

Did you become vice president through your flattery skills?

Every word was flattering, as if the mouth had been greased with oil.

“The vice president should take care of the existing product division. “I have to take care of Innophone production first.”

“We will manage it so that it runs smoothly without any problems.”

“Have you found a solution to the problem at the Innophone production plant?”

“First of all, we plan to change three small home appliance factories into Innophone factories. And if necessary, we are even considering building a new building.”

As the days passed, Innophone’s supply problems worsened.

All inventory was sold out, and products produced at the factory were immediately loaded onto transport vehicles rather than in warehouses.

“Don’t try to meet all the demand. “All you have to do is distribute and supply as much as possible.”

“Not only Taewoo Electronics stores, but also foreign buyers are making a fuss, asking for products quickly. “If we don’t supply it properly, won’t there be a problem?”

There was nothing we could do about the production problem right now.

But that wasn’t necessarily a bad thing.

Scarcity.

When supply was short, the value of the product tended to rise.

If the scarcity increases too much, there is a possibility that it will be ignored, but as long as a minimum supply is maintained, the value of Innophone could increase even further.

“As time passes, Innophone’s sales volume will gradually decrease. Building a new factory is poisonous if you think about it later. First, let’s make the most of the factories Taewoo Electronics owns and produce the quantity.”

“We will do our best to meet the quantity.”

“That doesn’t mean we should produce defective products. “We will unconditionally refund or replace defective products with new products.”

I left most of the work to the vice president.

Now that I am the president of Taewoo Electronics, there may be people who want reform or innovation, but I have no intention of handing them innovative products.

It just creates a system that can take care of itself.

“And there will be major personnel changes. “Dissatisfaction may arise, so please take care of it.”

“Who would oppose personnel changes ordered by the boss? I will take care of it on my own. But when you say it’s a major personnel change, how big is it?”

“How many Taewoo Electronics employees are there?”

“Approximately 12,000 people.”

The scale of Taewoo Electronics was considerable.

As it is the third largest electronics company after Samjin and CL Electronics, the number of employees was not small.

“How many of them are office workers?”

“If you include general office workers, researchers, and development team members, the number is approximately 1,500.”

“Then, approximately 500 people may undergo personnel changes. There could be more.”

“Are you saying that much?”

“CEO Park Jin-hoon gave personnel appointments in a very crappy manner. “Shouldn’t we move employees to departments that suit their aptitude and work with compatible employees?”

“Yes, but… … .”

The vice president did not continue talking.

But I had a rough idea of ​​what he was going to say.

‘How do you know that and make personnel changes?’

I probably wanted to say something like this.

But I had the ability to see personal information.

The plan was to check each of the more than 1,500 people and make personnel changes.

“Personnel transfers will take place starting next week at the latest, so please prepare.”

“Oh, I understand.”

He was a vice president who walked out with heavy steps.

Only then did I open the employee list and start checking personal information.

It wasn’t easy.

Each person’s abilities and tendencies were separately organized and registered in Excel.

As if putting together a puzzle, we created departments by adding and detaching various people.

‘Look at this. I knew there would be someone like this.’

When I checked roughly half of the list.

I was able to find an employee who had very interesting information.

The personal information included name, age, and affiliation. The average employee was listed as Taewoo Electronics, but this employee was different.

[Affiliation: Taewoo Electronics Development Team 3, Phiten Electronics Division]

He was an employee with two affiliations.

As is the case with all companies, Taewoo Electronics also banned concurrent positions.

However, having two affiliations meant that one was an industrial spy.

But you can’t just push things around without evidence.

First, I called a team leader at SAVE Investment Company to secure evidence.

“Do you know anything about Phiten Electronics?”

[This is a company located in China. It is also a very noisy company on Wall Street these days.]

“For what reason?”

[This is a company that very openly engages in industrial espionage. These guys are so arrogant that they make international calls out of the blue and ask for internal information.]

“I’m not going to just sit there and watch.”

[We are still engaged in legal disputes with several companies. I think the company will probably collapse after a few more years.]

Phiten Electronics was a company that did not exist in my memory.

Maybe I don’t remember because the company went bankrupt due to a legal dispute.

They say it’s a company that will fail on its own if left alone, but that doesn’t mean they can’t just ignore an employee who is clearly engaging in industrial espionage.

“Please send me information about Phiten Electronics.”

[We will collect the information and send it to you. ah! And then I got a call from Dimon. He said he would like to meet him once.]

“Already? “I think I should make time to visit the United States.”

It seems that the seeds of discord have already sprouted.

If I have Dimon by my side, I can more easily realize my plans.

Although he is now second in command at Travelers Financial Company, he was the one who would become the CEO of the world’s best financial company.

But not yet.

I again focused on finding industrial spies.

After hanging up the phone with Team Leader Han, I immediately called Captain Kang.

“I need you to investigate one person.”

[I was still playing around these days because there wasn’t enough work.]

“I will send you detailed information, so please thoroughly investigate your accounts, what assets you have, and who you meet.”

[We will investigate how many panties are in the house.]

Since it was an internal company issue, an audit team could be mobilized.

Taewoo Electronics also had its own audit team, and the president was able to fully utilize the audit team with his authority.

But there was no evidence.

If the audit team starts as soon as the CEO takes over, employees are likely to become agitated.

I didn’t want to ignite an already noisy atmosphere with large-scale personnel changes, so I used Captain Kang.

And Captain Kang could have secured more information than the audit team.

The audit team must work in compliance with internal regulations and laws, but Captain Kang’s team ignores everything and moves.