The Magician’s Memorial - Chapter 67



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Episode 67 resell (4)

He persuades his grandfather to sell the mobile phone business.

It was the best way, but my grandfather was not persuaded in the end.

In the end, I had no choice but to use the next best solution.

How to sell the business without getting permission from your grandfather.

“Do you think you can sell the mobile phone business at will? “I said I handed over the shares of Taewoo Electronics to you, but this is impossible without my permission.”

“The president of Taewoo Securities and the Economic Research Institute agree. “I didn’t decide to sell on my own.”

“Uh-huh! “Why don’t I say no?”

Has your grandfather ever been this angry?

His face was even red and he was yelling at me.

“Then, I will ask the opinions of Taewoo Electronics’ shareholders. “If there is opposition at the general shareholders’ meeting, we will never bring up the topic of selling the mobile phone division again.”

“You already own 20% of the shares, so you’re going to make a decision at a general shareholders’ meeting? “Isn’t this fight too advantageous for you?”

“I will vote invalid. Will it be a fair fight then?”

“Are you confident? “I will use all of the shares held by Taewoo Group.”

Taewoo Electronics shares were widely scattered among its affiliates.

It was a stake that could be swayed by a single word from my grandfather.

“But it’s okay. I understand that the stake held by affiliates is approximately 10%. “You have to overcome that level of disparity to be able to achieve majority agreement.”

“Are you saying you want to start with a 10% loss?”

“We are confident that the majority of shareholders will agree to the sale of the mobile phone business.”

“… … good night. “If you win at the shareholders’ meeting, I won’t stop you anymore.”

My grandfather stood up without looking at me.

As if declaring that the fight has now begun.

I was a little disappointed.

However, I felt at ease because I had to do my best to break my grandfather’s stubbornness.

Jump up!

I poured all the remaining coffee into my mouth and moved to Captain Kang’s office.

Even though it was late, Dimon and other personnel were guarding the office.

“Mr. Representative, what are you doing at this hour?”

“I plan to stay here for a while.”

“Have you ever been kicked out?”

“Well, it can be seen as similar. “We decided to sell the mobile phone business through the general shareholders’ meeting.”

Dimon scratched his head.

Even though watching a fight is the most fun thing in the world.

You can’t watch a grandfather and grandson fighting with fondness.

“Please accurately check the shares we own in Taewoo Electronics. “Except for the 20% share that I officially hold.”

“The stake held by SAVE Investment Company is approximately 25%. “Most of them are spread across multiple companies, but we can always bring them together in one place.”

I have been collecting Taewoo Group stocks for several months.

Not only Myeongdong, but also the shares currently held by the group and stocks released on the market were purchased little by little.

“Grandfather has a 10% moveable stake, so we are ahead by 15%.”

“Government agencies, including the National Pension Service, own 15% of the shares. “There is a high possibility that they will not express their opinion, so 30% of the shares are released to the market.”

“We own 15% of the shares, so even if all the votes go to my grandfather, it’s at least a draw.”

Winning the hearts of ordinary shareholders was my grandfather’s specialty.

You could tell just by looking at the press conference held during the Taewoo Heavy Industries incident.

Even so, it was almost impossible to win the hearts of all shareholders.

“I think the president will be very disappointed when the results come out. “The representative will win by a big margin.”

“We don’t know yet. “If you’re a grandfather, you might even try to move shares tied up in government agencies.”

“Even so, I don’t think the result will change. “You can only win if you get the consent of more than half of the general shareholders.”

Will my grandfather even move to a government agency?

It’s a fight not against anyone else, but against me, my grandson.

But I couldn’t let down my guard, and I thought of the worst.

“I need to secure more shares of Taewoo Electronics using funds from SAVE Investment Company.”

“How much more do we secure?”

“Please secure just enough stock price to move without being noticed too much.”

“At SAVE Investment Company, experts will be doing interesting work for the first time in a long time. But what if I want to secure a stake in Taewoo Securities?”

“then, … “We have no choice but to stamp out her grandfather with money.”

I hoped that wouldn’t happen.

However, if my grandfather moved to Taewoo Securities, I even had the intention of investing funds that Taewoo Securities could not afford all at once.

“Dimon, just focus on selling Taewoo Shipbuilding. “I will handle this matter with Team Leader Han.”

“Only after the sale is decided will I have something to do. “The CEO will have no time to rest now.”

We looked at each other and laughed helplessly.

Before the smiles disappeared, they went over to each other’s desks and got busy.

I immediately contacted a team leader and instructed him to secure shares of Taewoo Electronics, and called David to contact government agencies.

* * *

After spending the night in Captain Kang’s office, I went to work at Taewoo Electronics.

Vice President Woo Seong-il, like a man with a penchant for flattery, personally brought coffee.

“Is something wrong? “You look very tired.”

“I’m planning to sell the mobile phone division, but my grandfather wants to ask about the intention of the general shareholders’ meeting.”

“Are you speaking, Chairman?”

“So, what do you mean? “Is there anyone among the presidents of affiliates who would disobey grandfather’s words?”

“… … .”

“I just tried it.”

Who would rebel against living power?

No matter how strong I was as the next president, I was only second to the presidents as long as my grandfather was around.

“I can rebel against the president if he wants.”

“Thank you for your words. But you don’t have to do that. “Do you have anything special to report?”

“I received a call from Digital Case saying the prototype was completed. “They said they would like to visit with a prototype today.”

“Already a prototype? “Please tell me I can come anytime.”

A prototype MP3 player has already been released.

It was definitely nice to have the power of money.

Even if you have excellent ideas and technology, it is difficult to produce results if you do not receive proper investment.

Who said money can’t buy time?

If I had money, I could produce results quickly.

Thanks to my excessive investment, I succeeded in developing an MP3 player several years ahead of my previous life.

“President, Digital Case President Hwang Young-cheol has arrived.”

“Nice to meet you. “It’s been a really long time.”

“I sincerely congratulate InnoPhone on its success. “I also got one.”

President Hwang Young-cheol’s health has improved significantly compared to before.

I invested 1 billion won and bought 50% of the shares for 10 billion won, so it seemed like he was enjoying a wealthy life.

“Digital cases should be as successful as Innophone. Taewoo Electronics will take care of everything from product promotion to production.”

“Thank you so much for saying that. “Let me show you the prototype first.”

It was the moment when the world’s first MP3 player appeared.

President Hwang Young-cheol carefully opened the wrapping paper as if he was taking a new jug jar.

Inside, a rectangular MP3 player appeared.

… … .

To be honest, it was an old-fashioned design.

It had a design almost similar to a cassette tape player.

However, I applauded them for creating an MP3 player in such a short period of time.

“Thank you for your hard work. “You completed it faster than I thought.”

“Although there are still many shortcomings, we judged that it was sufficiently marketable. “The capacity is a whopping 32MB, so you can listen to about 8 songs.”

Is it marketable?

In terms of weight and size, it was much lighter and smaller than a CD player.

But capacity was an issue.

While a CD contains at least 10 songs, MP3 players have a limit of 8 songs.

“Can’t I install 64MB? Then we will be able to include 16 songs.”

“It is certainly possible, but the price is an issue. If you attach 64MB, the minimum price is over 300,000 won. “The price was too high, so we decided that it was not commercially viable.”

“I have to completely follow President Hwang’s opinion. As I said, all rights to the MP3 player belong to President Hwang.”

“We will make the next version larger than 64MB. “Wouldn’t the price go down over time?”

President Hwang’s voice was full of hope.

I didn’t want to wake him from his sweet dream, so I didn’t tell him any more about the downsides of the MP3 player.

“We plan to exhibit the MP3 player at CES in Las Vegas, USA next year. “We will create a separate digital case booth within the Taewoo Electronics booth and promote it.”

“When you say CES, do you mean the American Consumer Electronics Show? Can you really exhibit an MP3 player there? “I heard that the procedure is very strict.”

“Of course we have to do that. And thanks to Innophone’s success, we were assigned a fairly large booth.”

“thank you. thank you.”

I will unconditionally keep my promise to President Hwang.

Rather, they take responsibility for not only more promotion than promised but also production.

But it wasn’t my job to make sure MP3 players were chosen by the public.

“If there are any changes that need to be made, please do so before exhibiting at CES.”

“We need to modify it to support English.”

“That would be better. “The exact production plan is decided based on the results of CES.”

“All right. “We will do our best to prevent anyone from disclosing our products as we are exhibiting at the Taewoo Electronics booth.”

I even personally sent President Hwang off.

It was the greatest courtesy I could give to someone who created a product that was ahead of its time.

* * *

As time passed, the day of Taewoo Electronics’ general shareholders’ meeting arrived.

Unlike a typical general shareholders’ meeting, it was a shareholders’ meeting attended by not only the presidents of each affiliate but also grandfathers.

It was a shareholders’ meeting with a different weight.

Therefore, people like shareholders were kicked out from the entrance, and the general shareholders’ meeting proceeded quickly.

“This agenda involves the spin-off and sale of the mobile phone division. “We will decide whether or not to proceed with the agenda through a vote for or against.”

The moderator immediately opened a vote for or against.

In normal cases, a representative would have to come forward and explain this agenda, but that process was completely omitted.

This was because they did not want it to be seen as a fight between grandfather and grandson, and that is why shareholders who participated in the general shareholders’ meeting without any information raised their voices.

But their voices quickly quieted down.

Because my grandfather got up from his seat and walked to the ballot box.

He was a grandfather with the power to overwhelm the public, and the shareholders just stared at him.

‘Then shall I try moving too?’

I walked out to the ballot box for the second time.

The shareholders’ eyes were looking at me and my grandfather alternately.