The Magician’s Memorial - Chapter 99



Only Krnovel

Episode 99. Jamryong (2)

There were several ways to increase Taewoong Telecommunications’ market share.

Apple’s method of exclusively releasing mobile phones did not have much effect right now.

Currently, InnoPhone 2 is the only Apple mobile phone.

If the iPhone is officially released, we can expect great results, but there is still time left for the iPhone to be developed.

“What is the current market share of telecommunication companies?”

“KS Telecom is 42%, Korea Telecom is 18%, and our CL Telecom and Shinsegae Telecom together account for about 27%.”

Taewoo Telecommunications quickly rose to second place in the industry.

However, the gap with first place was 15%.

To close this gap, diverse marketing alone was not enough, and in the end, another merger and acquisition was necessary.

“Since the 3rd and 4th places in the industry have been combined, we can move up to 5th place.”

“Are you considering Hansung PCS?”

“What is Hanseong’s market share?”

“It’s 13%. “If we can acquire just Hansung, we will be able to immediately increase our market share to 40%.”

According to my memory, Korea Telecom acquired Hansung.

Thanks to this, Korean Telecommunications was able to firmly maintain its second place in the industry.

“We are even taking over Hansung. It is excessive to have four telecommunication companies in a small country like Korea. “Three seems just right.”

“Hansung will not give it up easily. As you probably know, Hansung is a subsidiary of Samjin Group. “If you ask Samjin for help, there is a very high chance that they will ask for it and not sell it to us.”

I also knew Hanseong well.

Because it was related to Wall Street.

“If you don’t sell it, just take it away. Hansung PCS issued a lot of corporate bonds. “I also know that convertible bonds that can be converted into shareholders were sold to Wall Street and Canada.”

“I didn’t know much about it.”

“If corporate bonds could be converted into stocks, Canadian companies would own 23% of the shares and Wall Street would own 15%. And Hansung’s stake is 16%.”

“Have you issued that many corporate bonds?”

“If you just pay off the corporate bonds, nothing will happen, but the maturity of the corporate bonds is not far away. But I don’t know if Hanseong can afford to repay.”

Even Samjin Group was running out of money.

However, Han Seong, the collateral, had no need to say anything.

“If we bring in shares from Canada and Wall Street, we can become the largest shareholder with a 38% stake. “Then, Hansung will have no choice but to sell its 16% stake.”

“That said, you can only acquire shares by receiving corporate bonds from Canadian companies and Wall Street.”

“I can solve Wall Street. The problem is how to bring in corporate bonds held by Canadian companies.”

Canadian telecommunications company Val Canada held convertible bonds worth 100 billion won.

For approximately 160 billion won, convertible bonds from Val Canada and Wall Street could be obtained, so that large amount was not needed.

It wasn’t difficult if you mobilized your connections in Wall Street.

Then, all we had to do was get Val Canada to sell convertible bonds to us, and we could take over Hansung PCS.

“I guess I’ll have to send someone to make contact with Bal Canada.”

“Taewoo Communications will send someone.”

“Don’t do that. This kind of work should be left to professional lobbyists to ensure results. “I’ll talk to a lobbyist I know well.”

The CEO of Taewoo Communications was kicked out of the planning office.

Again, I called David.

[boss! I was already going to call you. I decided to meet with Secretary George Shultz.]

“It’s a lot of hardship. “When were we supposed to meet?”

[I made an appointment for early next month.]

“Then there is still some time left. “Please use the remaining time to visit Canada.”

[When you say Canada, you mean Toronto? Or the capital, Ottawa? Where can I go?]

“You just have to go to Montreal. From there, you can contact Val Canada and purchase Hansung PCS corporate bonds.”

David paused for a moment.

He realized something and answered in a reminiscent voice.

[If it’s Val Canada, there’s a line to touch. Val Canada is an independent company that was originally owned by an American telecommunications company. Since many parts are still shared with American telecommunications companies, this can be resolved without difficulty.]

“I didn’t know that Val Canada was originally an American company.”

The situation turned out easier than expected.

Val Canada was owned by an American company.

Well, they may be independent now, but their influence will still remain.

Even if there was only a small amount of influence, David’s ability was enough to squeeze in.

[What is the price of convertible bonds held by Val Canada?]

“It will be a little less than $100 million. “You can pay a certain amount of extra money, so buy it quickly.”

[With about $100 million, lobbying funds will not be that much. It’s a perfect job to kill time.]

“ah! And Wall Street investment companies also hold Hansung PCS’ corporate bonds.”

[It’s easier on Wall Street. Is it okay to sell the boss’s name?]

“As much as you want.”

[Then, we will purchase convertible bonds on Wall Street today and resolve the BalCanada convertible bonds within next week.]

David was confident.

There was virtually no lobbyist in North America, let alone other regions, who could mobilize as many connections as David.

***

A week later.

I got a call from David again.

[We have secured all convertible bonds from Wall Street and Val Canada.]

“Already? “They said it would take two weeks.”

[Things turned out easier than expected. It turned out that the cousin of someone I was close with was an executive at Val Canada.]

It was David who shortened the time by a week.

I gave him a small reward.

“I’ll give you a hefty bonus. Team leader Han will take care of it.”

[Bonuses are always welcome. Then, if you have anything else to do next time, please contact me at any time. It’s especially good if it’s in North America.]

Now that we had taken action first, it was time to report afterwards.

I went into the chairman’s office with the president of Taewoo Communications, and my grandfather sighed when he saw us suddenly visiting.

“What accident did you have again?”

“We had an accident that the Chairman would be very pleased with. We are planning to acquire Hansung PCS. “The preliminary work has already been completed and all we have to do is present.”

“How much money did you spend?”

“We only used less than 200 billion won.”

“200 billion isn’t even the name of a neighborhood dog, so you’re saying it too easily.”

It was an old man who looked like he was scolding me, but he was smiling.

It was clear that 200 billion won was a lot of money, but considering the value of Hansung PCS, he knew that it was a profitable business.

“I am confident that we can extract more than 200 billion won.”

“So what are you going to do with 200 billion won?”

“We have secured convertible bonds issued by Hansung PCS. If you convert this into stocks, it becomes a 38% stake, and Hansung’s stake becomes 16%.”

“We become the largest shareholders.”

“If we acquire Hansung PCS, we can close the market share gap with KS Telecom to within 5%.”

“7, 8, and 9 are owned by Taewoong Communications. “Hehehe.”

The number of Hanseong PCS was 018.

If acquired, 7, 8, and 9 could all become Taewoo Telecom’s numbers.

All that remains now is negotiations with the government.

It was also a problem that could be easily solved if my grandfather, who was the chairman of the Federation of Korean Industries, stepped forward.

“To acquire Hansung PCS, government permission is required.”

“Director Kim worked hard to secure a stake, but the chairman should be able to resolve that issue. “I’ve already decided to go to the Blue House next week, so I’ll solve that problem.”

My grandfather even served as an economic advisor to the Blue House.

Maybe that’s why there was a lot of friction with the economic staff.

Because he was a grandfather who ran a large company with a debt ratio of 0%, he was able to pressure the economic staff, unlike before his return.

Before regression, the situation was the opposite.

He was a grandfather who was pushed out by the economic staff.

However, because that situation did not arise this time, he was able to stand tall as the government’s most trusted entrepreneur.

“I am a little worried that there will be complaints from the Federation of Korean Industries.”

“They criticize Taewoo Group for acquiring too many companies. “Don’t worry, I’m just hearing those words out of one ear.”

My grandfather didn’t even lift an eyebrow.

When it comes to perseverance, my grandfather is the person I can proudly say was the best in Korea.

“This president’s shoulders will become very heavy. If you want to win the battle for first place in the industry, you have to take good care of yourself. “I’ll make you some tonics, so drink it and try your best.”

“We will definitely make Taewoong Telecommunications number one in the industry.”

I wanted to make Taewoo Group number one in every industry.

Automotive, electronics, construction and even communications.

We were already on the verge of becoming number one in several fields, and we had plans to make it number one in the remaining fields within a few years.

No. 1 company.

The image of being number one was more important than the ranking.

Once you establish an image as a No. 1 company, you can quickly grow any business.

***

Hansung PCS’ convertible bonds were converted into common stocks.

Because it happened so quickly, Hanseong was unable to respond properly.

Taewu Group immediately became the largest shareholder of Hansung PCS and was able to take over management rights.

After that, things went according to plan.

Hansung sold its shares to us by raising the management rights premium slightly.

With the government’s connivance, we were able to bring the 016 number to Taewoong Telecommunications.

The foundation for Taewoo Communications’ growth has been laid.

I finally had the time to look elsewhere, and the place I turned to was the IT industry.

The U.S. IT business is being carried out through SAVE Investment Company, but it has not yet made much progress in Korea’s IT business.

That’s why I called Taewoo Electronics CEO Woo Seong-il into the planning office.

“How is the IT department doing these days?”

“The number of subscribers to the music site is increasing significantly every month, and we have completed the development of a home trading system in collaboration with Taewoo Securities.”

“The ongoing project is almost finished. “Then I guess I’ll have to start a new project.”

“Do you have a project in mind?”

“The government is implementing a policy to foster the IT industry, so we should also participate. “I especially plan to invest in the gaming industry.”

President Woo Seong-il was very surprised by the word game.

In the public perception, games were still just children’s play.

“Do you think the game won’t make money?”

“Japanese electronics companies are said to be in the game console business, but they are far from the IT business.”

“In the future, games will be released over the Internet. So games also become part of the IT business.”

“So, are you planning to produce the game yourself?”

“Taewoo Group cannot make games. “Creative industries like games can only be made properly if creative people are in charge.”

“If you’re not making games, what business are you planning?”

“I’m planning to start a game distribution business.”

A completely different game distribution business than before.

We planned to create a platform where people could purchase and enjoy various games through the client we created.