The Magician’s Memorial - Chapter 65



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Episode 65. resell (2)

A few days later.

As we expected, Taewo Shipbuilding, led by CEO Oh Kang-cheol, went on strike.

“The strike is coming sooner than expected. “I thought it wouldn’t start until next month at the earliest.”

“A U.S. audit company confirmed a number of corruptions involving subcontractors. “I think we went on strike early out of anxiety.”

The audit company really ripped everything off.

Since we had management rights, we were able to look at all the data in detail, and in fact, there was evidence all over us even without looking at it in detail.

“It’s beneficial for us because we don’t have enough justification for an early strike.”

“Honestly, I don’t understand. How ridiculous would they have thought about gratitude that they wouldn’t even have thought of hiding the evidence? “I didn’t even use the trick of appointing a boss to a subcontractor, but let my family sit there.”

Dimon said with a laugh.

I wanted to laugh and agree with what he said, but Taewoo Shipbuilding was part of the Taewo Group just a few days ago.

The biggest reason Taewo Shipbuilding became this mess was Taewu Group’s neglect, so I couldn’t laugh with them.

“It was okay at Taewoo Group. “He and the audit team are like brothers and sisters, and even the chairman didn’t say anything, so he probably thought it was okay to do it.”

“… … “Is that possible?”

“It’s a shame, but that’s how it went. “I’m doing this to cut it out now.”

Did I blame myself too much?

Dimon, who was laughing cheerfully, subtly wiped the smile from his face.

“We are trying to resolve this strike as quickly as possible. Through Captain Kang, we secured a significant amount of corruption data and handed it over to the police and prosecutors. “I think a warrant will come out as early as today.”

“President Oh Kang-cheol probably also has some connections. “I would have distributed what I have made so far to many places.”

“Still, the suspicion of corruption is so clear that it will be difficult to avoid it.”

“It’s hard to avoid it, but you can take the time. So it would be good for us to get help too.”

“Are you talking about help from Taewoo Group?”

Taewoo Group’s connections were considerable.

However, my grandfather would not want to use his connections to attack President Oh Kang-cheol.

Still, he was once a member of the Taewoo Group.

“If Taewoo Group steps forward, it won’t look good. It’s very neat to borrow the power of the current group. “If the number one person in the business world moves, what’s the point of saying it’s CEO Oh Kang-cheol?”

“good idea. Hyeonjae Group will want to clean up the company before taking over Taewoo Shipbuilding and Marine Engineering, which will become their company anyway.”

“If you proceed with something like restructuring after an acquisition, you are bound to get into trouble. “We are doing the cleaning for you, but you have to lend us some cleaning tools.”

Dimon was continuously communicating with the current group.

Although price negotiations had not yet begun, it was almost a foregone conclusion that Taewoo Shipbuilding would be transferred to Hyunjae Group.

“Start negotiations with the current group in earnest. “At the same time, we also discuss ways to deal with President Oh Kang-cheol’s gang.”

“We will make sure CEO Oh Kang-cheol stands in front of the prosecution photo line within this week.”

* * *

That afternoon.

Time for Dimon to meet with someone from the current group for negotiations.

I was meeting and talking to new people in a completely different place.

“long time no see. This is my first time seeing you at the previous Youth Economic Forum. “I’m younger and should have contacted you first. I’m sorry.”

“What does President Kim have to be sorry about? When you run a big company like Taewoo Electronics, you have no choice but to be busy. I’m sorry I should have contacted you first as I’m still only the vice president.

Jo Soo-young, the second son of Hyunjin Group.

Although he was a middle-aged man in his mid-40s, he maintained his own respect for me, who was much younger than me.

In fact, it may be because he knows that I am the next chairman of Taewo Group rather than because of my age.

“I organized this event because I wanted to meet senior executives and hear advice.”

“There’s something about a senior manager that makes me feel distant. Just call me brother. “Then I’ll give you a refreshing drink.”

I didn’t enjoy drinking.

When I’m drunk, my head slows down, so I avoided drinking whenever possible.

Since I had a lot of work to do next, I couldn’t rest my head even for a moment.

But for today, I locked the brakes and enjoyed a drink with Vice President Cho Soo-young.

“You’ll be fine. A large corporation is actually no different from a country. “Fathers always try to give the company to their eldest son, and second sons like me have no money.”

“Still, I heard that the affiliates will be separated and inherited. “Brother, won’t you soon inherit Hyunjin Heavy Industries?”

Vice President Cho Soo-young was currently working at Hyunjin Heavy Industries.

A few years later, he will take office as president and inherit Hyunjin Heavy Industries.

Of course, the process will never be smooth.

It was Vice President Jo Soo-young who gained Hyunjin Heavy Industries only after the fight that would be called the Prince’s Rebellion broke out.

“Do you think your brother will give you heavy industry easily? He is a person who rushes at me with lights in his eyes to belittle me whenever he gets the chance. And what will I do if I get Hyunjin Heavy Industries? “Compared to other affiliates, the scale is small.”

“Why not increase the scale?”

“That’s easier said than done. “My father wants to grow Hyunjin Heavy Industries, so he wants to grow it, but how can I grow it when another company is already holding it tight and won’t let go?”

It was Vice President Jo Soo-young, who was very drunk and was expressing his true feelings.

I agreed with his words and threw him a bait.

“There has to be a way.”

“What method do you mean?”

“Do you know that the shipbuilding industry was separated from Taewoo Heavy Industries?”

“I heard it was sold to Wall Street. “I don’t know why they came all the way to Korea just to have something to eat, or to run around on Wall Street.”

The news of Taewoo Shipbuilding’s acquisition was not widely known.

In the beginning, my grandfather even held a press conference to sway public opinion.

Once the Taewo Chosun negotiations were completed, according to my grandfather’s wishes, the media no longer wrote articles about Taewojo Shipbuilding.

Most people did not even know that Taewoo Shipbuilding had been acquired by Wall Street.

Fortunately, Vice President Cho Soo-young knew that fact in detail because he was in the same heavy industry industry.

“It also means that Taewoo Shipbuilding & Marine Engineering is a good company that Wall Street is drooling over.”

“It’s not your company anymore, so why are you so interested? “It’s not like I’m going to take it over again.”

“The problem is that there are a lot of rumors that Taewoo Shipbuilding & Marine Engineering is being acquired by the current group.”

“Maybe so. “How many companies in Korea have the financial power to take over Taewoo Shipbuilding & Marine Engineering?”

The scale of Taewoo Joseon was considerable.

Although it was said to have spun off from heavy industry, it was a company large enough to be ranked among the top 40 in the business world.

They were large corporations that I couldn’t think of surpassing because they were so large.

Moreover, when a rumor spread that Hyunjae Group had even applied saliva, no one even paid attention.

“To be honest, I don’t want Taewoo Shipbuilding to be transferred to Hyunjae Group. We are finally narrowing the gap in the business rankings. “If we take away what is ours and hand it over to the current group, the gap will widen.”

“I guess that will happen. But why are you telling me that story? no way?”

“How about taking over from Hyunjin Heavy Industries?”

Were my words that shocking?

The redness disappeared from Vice President Jo Soo-young’s face, as if the heavy alcohol he had consumed had taken over all at once.

“Of course I want to take over. But I don’t have the funds for that. “We are not a current group.”

“Do you think Hyunjae Group has money? In fact, there will be no more than Hyunjin Group. “The government is preventing us from borrowing money from banks due to various regulations.”

“But they say Hyunjae Group has already started preparations to take over Taewoo Shipbuilding & Marine Engineering? “Then where does the money come from to take over Taewoo Shipbuilding?”

I took a deliberate sip of my drink.

Then he lowered his voice and continued speaking quietly, as if it was really a secret.

“They say they are borrowing money from Wall Street.”

“The Hyunjae Group joined hands with Wall Street to target Taewoo Shipbuilding?”

“I don’t know exactly, but I guess so?”

From the beginning, Hyunjae Group did not target Taewoo Shipbuilding.

I was the one who guided everything to make that happen, but to others, it looked like the Hyunjae Group had been targeting Taewo Chosun from the beginning.

“That’s why President Kim doesn’t want to hand Taewoo Shipbuilding over to Hyunjae Group.”

“Whether the money from Wall Street goes into the Hyunjin Group or the Hyunjin Group, won’t it be the same there? “We decided to hand over Taewoo Shipbuilding to a Korean company anyway.”

“Yes, but. “We have no contact with Wall Street.”

“If it’s a line, I can find out. “There were plenty of investment companies on Wall Street willing to lend funds for the acquisition of Taewoo Shipbuilding & Marine Engineering.”

“Is that possible?”

“It is possible because Taewoo Shipbuilding & Marine Engineering’s future value is high.”

Vice President Cho Soo-young’s eyes were filled with desire.

It was an opportunity to quickly emerge from an incompetent second son to a capable person who swallowed up Taewoo Chosun.

Heavy Industries was the subsidiary he would inherit anyway, so the bigger it was, the more profitable it was for him.

“Can you really recognize me?”

“It’s not a problem to find out. “Can you persuade the Chairman?”

“I have to take responsibility and convince them. “If Taewoo Shipbuilding and Marine Engineering can be acquired by Hyunjin Heavy Industries, we can immediately enter the top 5 in the business world.”

“Taewoo Shipbuilding & Marine Engineering has secured all orders for the next five years.”

“therefore! Why would you hesitate on a company that can repay all its loans by just acquiring it and holding it for a few years? This is not the time. “I need to go and talk to my father right now.”

It was Vice President Cho Soo-young, who took a gulp of bottled water and stood up.

I felt a little sad seeing his back full of hope and excitement.

No matter how hard we try, Hyunjin Group will never be able to eat Taewoo Chosun.

But why did you encourage him?

The more competitors there are, the higher the price of the product becomes.

Taewoo Shipbuilding & Marine Engineering can be sold at a slightly higher price only if a competitor called Hyunjin Group joins the group rather than if the Hyunjin Group does so alone.

A kind of windbreaker.

Hyunjin Group was chosen as a windbreaker to increase Taewoo Shipbuilding’s price.

* * *

next day.

I went to work at Captain Kang’s office instead of Taewoo Electronics.

David was sleeping on the sofa, very drunk.

“I guess I ran all night yesterday too.”

“I really thought I was going to die. “I realized again that Korean people are good at drinking.”

“Not all, but most people in heavy industry drink well.”

“What is Samjin Heavy Industries’ response?”

“Of course I’m drooling. “If we can only eat Taewoo Shipbuilding, we can take the top spot in the Korean shipbuilding industry.”

David had drinks with an executive from Samjin Heavy Industries yesterday.

The more companies targeting Taewoo Shipbuilding, the better.

However, Samjin Heavy Industries did not play a simple role as a windbreaker like Hyunjin Group.

“Let’s make Hyunjae Group and Samjin Group fight fiercely.”

“Wouldn’t that happen even if I didn’t try? “Whenever the current story comes up, he gets very upset.”

The relationship between Samjin and Hyunjae Group was very famous.

Hyunjae Group, ranked first in the business world, and Samjin Group, ranked second, are eagerly aiming to take that position.

Especially if it is a Samjin group in the current group, it is very difficult.

This year, when Samjin Group created Samjin Motors, the relationship worsened further.

Current Group Chairman Jang went so far as to say that he did not even come to the Federation of Korean Industries meeting because he did not want to meet Chairman Samjin.