220. do as you please
Hoyoung’s wealth grows day by day.
In particular, the companies Hoyoung runs in Korea are those that can earn stable cash.
Not to mention H&H, which sells Kronos and Hangeul, as well as Hermes.
Selling intangible programs and communication services.
This is the fear of the IT industry.
Since it is a job that can extract the highest efficiency with the minimum labor cost, tremendous added value can be obtained.
＜Hangul 97. Download service open＞
In addition, Hoyoung started a download service as well as sales of physical CDs for Hangeul 97.
Other seniors discouraged the download service, saying it was premature, but contrary to their expectations, there was a good response from the beginning.
‘Having to go to the shopping mall, H&H dealership, or computer store to buy a CD-ROM, and spinning the slow CD is more troublesome than I thought.’
Since Internet shopping malls and delivery services had not yet established themselves, Hoyoung’s prediction that more download services would gain a response was correct.
H&H, which tried to test Hangul 97 first and start other software later, had no choice but to advance the time with the success of the Hangul 97 download service.
In addition, ADSL subscribers and mobile communication subscribers were also rapidly increasing.
Although it has only been two years since the service started, the PC penetration rate in Korea has reached 50%, and ADSL subscriptions for households with PCs have reached a whopping 90%.
Since only the remaining 10% were still using PC communication, it was obvious that they would return to ADSL as soon as the current agreement ended.
And mobile communication was almost monopolized by Hermes, and Korea Telecom was maintaining a 20% market share.
It was at least this much because it introduced a rate plan that combined with home phone and gave a discount.
So, was IT really making money like this? If so, that wasn’t it again.
Knowingly or not knowingly, Hoyeong was also making a name for herself in the manufacturing industry.
[We are different. Because it’s fanatics.]
It was the Pantech mobile phone advertised by Ha Su-min.
As the number of mobile communication subscribers increased, cell phones naturally began to sell like hot cakes, and they were already reaping good income.
Accordingly, Myeongseong Electronics, which received technology transfer from Pantech, began to advertise their mobile phones by recruiting top stars of the time.
[wherever. Quickly and easily.]
It was ‘Anipang’ that explodes well anywhere.
Although the name seems a bit childish, the sound is prettier than I thought, and the design was well chosen to fit the concept, so sales were mainly made by young people.
Hoyoung kept converting the accumulated money into dollars.
It was clear that the exchange rate would fluctuate if a large amount of money was changed at once, so I changed it step by step without being noticed.
Even at this moment, the number in the account was going up.
.
.
.
Time passed quickly like an arrow in a string.
Half of year 1997 has already passed, and June has come.
Hoyoung went to Sumin’s house to say hello for the first time, and it’s already been nearly four months.
For four months, Hoyoung spent more time with Jo Jungsik, who he is now with, than with H&H or Hermes.
Currently, they are sitting with several men in a conference room in Eunma Shopping Center in Daechi-dong, where the original Hanbo Group office building was located.
Today was the day when people who wanted to take over the Hanbo Group, which had been under court receivership for more than four months, gathered and negotiated.
Originally, it is common to look for a business to take over after a few years of court receivership, debt relief or business normalization.
However, Hoyoung moved faster than that.
It was because it seemed necessary to put him and the prestigious business in order before the situation became more serious.
However, a problem arose there.
Another conglomerate that coveted Hanbo Steel.
I ended up leaving the Daehyun Group, which is said to follow fame in Korea.
That’s why we decided to meet here with the representative of Daehyeon Group under the mediation of the president of Jeil Bank, who leads the court management of Hanbo Group.
“Hanbo Steel should be taken by Daehyun Group. I will admit that Myungsung Group has a larger business scale than our Daehyun Group. But isn’t it self-evident that there isn’t even a steel sector yet on that scale? Do you think this business of steel is going smoothly?”
The man representing the Daehyeon Group spoke to Jo Jung-sik.
He was tall and had a large physique, and at most he looked like he was in his early 40s.
‘Jeong Hun-soo’
Hoyoung was able to recognize who he was at once.
Jeong Hun-soo was the fourth son of Jeong Dae-young, the head of the Daehyeon Group, and he was the one who would later inherit Daehyeon Heavy Industries.
He now holds the title of Managing Director.
“I have never seen it so lightly. We just saw that the steel business has plenty of potential. Myungsung Heavy Industries also makes a lot of special equipment and builds ships. Doesn’t Executive Director Jeong know better than anyone else that the steel industry and shipbuilding industry are inseparable?”
Cho Jeong-sik showed respect to Jeong Hun-soo, who was still only an executive director.
I am the chairman of Myungsung Group, but I have known both of them since I was young as a second-generation conglomerate, and I acted like this because the age difference was not too small.
Of course, the official position would have played a part too.
“That’s right. Then you can look at the scale of the shipbuilding industry. The number of ships we build this year is four times that of Myungsung Heavy Industries. So it would be a more natural order for us to take Hanbo Steel.”
If it is the original history, Hanbo Steel will be taken over by Daehyeon Motor Group.
‘It was based on the judgment that it would be a positive factor in strengthening mid- to long-term competitiveness. By the way···.’
Hoyoung noticed something strange.
There was nothing wrong with Jeong Hun-soo’s words. But something felt off.
Hoyeong quickly racked her brain to figure out where the sense of incongruity was coming from.
‘ah···!’
Hoyeong, who was in trouble for a while, was able to realize the identity of the sense of incongruity.
In the future, the place to acquire Hanbo Steel was not the ‘Daehyun Group’, which had heavy industry, but the ‘Daehyun Automobile Group’, which had been separated.
However, Daehyun Heavy Industries, not Daehyun Motors, came out here, so I thought it must be something else.
‘There’s definitely something…’
Hoyeong kept open various possibilities and closely observed Jeong Hun-soo, who was passionately speaking.
While drawing, Hoyoung was able to discover something.
Jeong Hun-soo was constantly glancing at the president of Jeil Bank while he was talking.
I would not have known if Jeong Hun-soo was smarter than I thought and his acting skills were outstanding, if Ho-young hadn’t been so determined and observed.
‘no way···?’
A thought flashed through his head.
So, I quietly stood up, leaving the two still having a heated conversation.
“Where are you going?”
“I’m going to go to the bathroom for a while.”
The president of Korea First Bank asked Ho-yeong, and Ho-young gave a short answer before actually going to the bathroom.
In the bathroom, Hoyeong spoke to Gaia for the first time in a long time.
“Gaia. Did you check the faces of Jeil Bank President and Jung Heon-soo?”
Gying-
one vibration.
Despite the call after a long time, Gaia did not forget her promise to Hoyeong.
“Could you confirm that there is a picture of the two of you together in the database?”
Gying-
Another vibration rang, and Gaia did not answer for a moment.
how many minutes has passed
By the time Ho-young was about to get up, thinking that he would think it strange if he stayed away longer.
Gying-
Finally, his wrist vibrated.
“Did you find anything?”
And Hoyoung, who saw the screen, couldn’t help but smile.
[1978 Seoul National University Economics Graduation Ceremony]
Even though it was a black-and-white photo, I couldn’t immediately check it because it was a face 20 years younger than now, but I couldn’t escape Gaia’s data analysis ability.
“haha···. After all, you’re saying these two are college classmates, right? No, are you our senior?”
Hoyoung laughed.
It was because he understood to some extent the reason why Daehyun Heavy Industries suddenly intervened.
“You mean you came here to be a maid of honor?”
Ho-yeong was convinced that the reason Jeong Hun-soo came was to increase the difficulty of taking over the Hanbo Group with Jo Jung-sik.
The Hanbo Group is a hugely insolvent company with a whopping 1.5 trillion won in debt alone.
Therefore, Jo Jung-sik and Ho-yeong had no intention of taking on all the debt in the first place.
The bottom line of debt they are thinking of is 500 billion won.
The remaining Article 1 had already been communicated to the creditors that they could take over only when the creditors paid off or the government stepped in and intervened.
“Cheil Bank’s loans to the Hanbo Group exceed 300 billion won.”
Now that I think about it, Hoyeong was fully aware of how things had turned out.
The government wants Hanbo Group to be taken over somewhere.
This is because it can prevent thousands or tens of thousands of workers who work in groups from becoming unemployed and absorb shocks to the national economy.
So, if the debt of 1.5 trillion becomes 1/3, Korea First Bank, which lent 300 billion won, can only return 100 billion won, resulting in a huge loss of 200 billion won.
Therefore, it must have been a shallow strategy to minimize the loss by inserting a takeover competitor.
‘haha. It’s shallow, but the effect is certain.’
It was only now that I understood that Jung Hun-soo, who was only managing director at Daehyeon Heavy Industries, came.
I was convinced that this could be the case because I was weighed down by the background of being the son of Chairman Dae-Young Chung, but it was true that the position of managing director was low enough to be the subject of mergers and acquisitions proposals worth hundreds of billions of won.
Hoyoung went back to the meeting room, but the discussion was still in full swing.
Of course, the main speaker was Jeong Hun-soo.
“We came with the idea of taking up to 1 trillion in debt. By the way, Myeongseong conveyed the opinion that it was 500 billion won? haha···. Isn’t it natural for us to take over this? We should have talked about debt sooner. Then I wouldn’t have had to talk so painfully until now.”
Jo Jung-sik was unable to answer Jeong Hun-soo’s words.
He was easily judged and was unable to speak.
In order to carry out the plan Ho-young presented to him, the steel industry was essential.
Their first plan was to take over Hanbo Steel and immediately take over Sammi Steel to increase its scale and quality at once.
‘Should we call it Team 1? In the first place, our plan was up to 1 trillion won, so we won’t lose much by calling the same amount as Daehyun… Where is Chairman Yoon now?’
While Jo Jeong-sik was thinking to himself and couldn’t say anything, Ho-young came into the meeting room and applauded! I hit and focused my attention.
Then, slowly, he opened his mouth.
“Executive Director Jeong?”
“Did you call me?”
“yes. you’re right. I heard from the outside a little while ago that you can bear the debt of the Hanbo Group up to 1 trillion won.”
“you’re right. Myeongseong and Chairman Yoon Ho-young can’t handle that much? haha. Then, how about going clean?”
Jung Hun-soo speaks with a relaxed smile on his lips.
Hoyoung spoke with a more relaxed attitude because he knew that smile was fake.
“All right. I will do as the manager says.”
“yes?”
“As the executive director said, we cannot afford to pay up to 1 trillion won. It’s really unfortunate, but I’m going to have to get out of this takeover game. Chairman Joe? It seems like there’s nothing to be gained by staying here any longer. Let’s go out to eat.”
“Ah yes. All right.”
Hoyeong left the meeting room after speaking, and Jo Jung-shik, unable to grasp how the situation was going, got up awkwardly and followed Hoyoung out.
In the conference room, only Jeong Hun-soo, the president of Jeil Bank, remained in the meeting room, who was speechless with an absurd expression on his face.
