224. three dragons car
Samryong car.
In the past, it was a company that mainly manufactured and sold four-wheel drive vehicles under the name of Dong-A Motors.
However, due to the characteristics of the Dong-A Group, which prefers debt-free management, the automobile industry, which requires astronomical amounts of money for automobile development, was not suitable.
From the late 1980s to the early 1990s, the Samryong Group, which had selected only businesses directly benefiting from the three economic booms (low oil prices, low interest rates, and low dollars), was able to actively invest in the automobile industry, and in 1988, It was a company that brought the SUV craze in Korea in earnest by launching the Korando family.
“The scale of the factory is bigger than I thought.”
“Even if it rots, it’s Junchi, because it’s currently the 4th largest automobile company in Korea.”
It is the fourth automobile company after Daehyun, Kia, and Daeyu Motors.
However, if you consider only the net profit of some flagship models, it was Samryong Motors that was rated higher than Kia or Daeyu.
This is because compared to Qiana Daeyu Motors, which develops and produces all types of vehicles from small to large, RV, and SUV, Samyong Motors focuses exclusively on four-wheel drive SUVs.
Thanks to that, Samryong Motors had a kind of mania, and it was a company with a very good repurchase rate of the same brand.
“My Sungsung Electronics Semiconductor Factory is also located here in Pyeongtaek, so I often pass by here, but I didn’t expect to come this far.”
The place where Hoyoung and Jo Jungsik are now is the Samryong Automobile Factory in Pyeongtaek.
The management of Samryong Motors requested to meet and talk with Ho-yeong, and Ho-yeong accepted the invitation.
Samryong Motor’s head office was located inside the Pyeongtaek plant, so it came this far.
“Usually, when we talk like this, we usually talk in quiet restaurants or hotels, but Samryong Motors wants you to come in person.”
Hoyoung and Jo Jungsik can be said to have a lot of experience in acquiring companies.
In recent years, we have acquired as many as three groups.
It was not three companies, but the group itself was absorbed, so it could be said that dozens of companies were acquired at once.
“There are usually two cases where people are asked to come to the company.”
“Yes. It means that they are overflowing with confidence in their company and come and see it with their own eyes. Otherwise…”
“There are a lot of things to worry about.”
Hoyoung smiled.
I had a strong hunch that the reason the Samryong Motors asked me to come here was the latter.
.
“Thank you for coming this far. The boss is waiting up there.”
As soon as Hoyeong and Jo Jungsik arrived at the headquarters building, a handsome young man escorted them to the top floor.
He was probably the secretary of the president of Samryong Motor Company.
‘Lee Myung-han?’
The young man had a name tag on his chest.
And for some reason, Hoyoung felt his name was familiar.
Just as Hoyeong was trying to remember where she heard his name, the elevator reached the top floor.
“This way. Please sit down for a while and we will prepare refreshments for you.”
Lee Myeong-han greeted politely in front of the president’s office and opened the door.
‘It doesn’t matter who you are right now. If it’s an important person anyway, ask Gaia if she has the data and it will be resolved.’
Hoyeong thought to cover it up for now, and went into the president’s office.
“ah! Chairman Yoon Ho-young. And even Chairman Cho Jung-sik… Thank you so much for asking me to come this far.”
The president of Samryong Motors bowed his head.
He was the one who came out with a completely low profile from the beginning.
“First, let me introduce myself. I am lacking right now, but my name is Jang Tae-tae, who is in charge of the president of Samryong Motors.”
“Nice to meet you. CEO Jang Tae-tae. This is Hoyoung Yun from Hermes.”
“It’s a prestige adjustment ceremony.”
Jang Eun-tae was a middle-aged man with a stocky physique who seemed to enjoy exercising regularly.
He also had a good impression, so he seemed to have heard a lot of compliments from people around him.
However, dark circles were now sitting under his eyes, and his face was clearly tired.
He looked like he hadn’t been able to sleep for days.
“To be honest, these days I am not in the mood to go out to eat anywhere I feel comfortable. It’s been a long time since I went home. haha. It seems like ten days have already passed.”
“You look very tired. Is something wrong with you?”
“What’s going on? haha···.”
He smiled mischievously and said something.
“I think you all know about Samryong Motors, and I’ll start with the main topic.”
“Good.”
“Currently, Samryong Motors is on the brink of bankruptcy. I am in so much debt that I can’t do anything. The profit from selling the car is comparable to the interest on the debt.”
Jang Jang-tae spoke as if appealing to Ho-young and Jo Jung-sik.
However, Hoyoung already knew the news, so he had a calm face even after hearing the shocking news.
Whether Jang Eun-tae knew it or not, he kept talking.
“However, our Samryong Motors has prepared a lot of things so far. If the company collapses like this, the things prepared for 10 years will be in vain. It’s not a big deal why I brought you two here. If you have time today, I did it because I wanted to take a tour of the factory together and properly show that Samryong Motors is a promising company.”
Jang Tae-tae’s face was serious.
Her face looked very tired, but her eyes seemed to shine brightly.
‘The eyes and spirit look pretty good.’
Hoyoung praised him.
Although he is not from the owner’s family, he seemed to really care about the company.
“Then, before that, I want to ask you a few questions.”
“yes. whatever.”
“To be honest, even though Samryong Motors has a lot of debt right now, it is too much. Isn’t it?”
“Yes… Joe.”
“How would you explain the fact that you created a debt that far exceeds 3 trillion?”
Hoyoung said calmly.
It is completely different to like Jang Eun-tae and have a lot of debt at Samryong Motors.
No, Jang Eun-tae may have been the president for several years, but he could have been the cause of this huge debt.
“That is, even if you have a hundred mouths, there is nothing to say. I have a lot of thoughts on whether I should say this because it seems like I am blaming others, but since it is a place where I can reveal everything, I will say it comfortably.”
“I see.”
“After graduating from college, my first job was here at Samryong Motors. At that time, it was Donga Motors. I started steadily as a new employee, and it has been less than a year since I became the president.”
“Oh, is it? So who was running the business before then?”
For some reason, Hoyeong could find herself feeling relieved.
That doesn’t mean that Samryong Motors’ huge debts will disappear, but it was because I thought that the cause wasn’t all due to Jang Jang-tae.
“Before I became the president, I was directly managed by the family of the owner of Samryong Group. While Chairman Kim Si-jin also served as the president of Samryong Motors himself.”
Hoyoung searched his memory and remembered the name Kim Sijin.
Currently, the total number of large chaebols that cross the 5th and 6th rankings in the business world.
However, the Samryong Group was hit hard by the IMF crisis and eventually disbanded in 2000.
“Chairman Kim Si-jin… I remember. Aren’t you the current member of the National Assembly?”
“yes. you’re right. After being elected as a member of the National Assembly last year, he left the position of president as if he were passing it on to me and left for politics.”
Jang Tae-tae explained to Ho-yeong and Jo Jung-sik the current situation of Samryong Motor for a long time.
As if the control device that had been suppressed until now had been released, he complained endlessly to them.
Thanks to this, Hoyoung was able to solve the question of how Samryong Motors accumulated 3.4 trillion won in debt.
“Summarizing, isn’t the main point that Chairman Kim Si-jin, a car maniac, ran carelessly while developing vehicles and buying licenses for foreign cars?”
“you’re right. It bought a British car company called Panda Westwind and launched a British-style car called the Calista in Korea. More than 50 billion won was invested in acquiring the company and building the production process… Only 78 units were sold until the car was discontinued in 1994.”
It was a really lie-like anecdote, but Jang Jang-tae surprisingly said that this happened not once or twice.
It is said that these extraordinary craps gathered to create a debt of more than 3 trillion won.
“However, Chairman Man, which was released this year, was made with great effort. If things go on like this, Chairman will undoubtedly change the paradigm of large luxury cars in Korea.”
And Jang Eun-tae was deeply proud of Korando and Chairman.
When it comes to SUVs and large cars, I was full of confidence that I could make them better than Daehyun or Kia.
“good. I think I know very well why you called me here because you wanted to say something.”
“Thank you for noticing. Then would you like to take a tour of our factory? The engine plant is located in Changwon. Only engines are assembled there, and finished products are produced here.”
“yes. Let’s look back.”
With Hoyoung’s consent, Jang Eun-tae gave instructions through the intercom.
“Chief Lee Myung-han. I’m going to tour the factory, so I’d like you to prepare some tea.”
– yes. president.
After a while.
Lee Myeong-han drove Chairman Jang Jang-tae in the front passenger seat, and Ho-yeong and Jo Jung-sik in the back seat, taking a look around the factory.
Ho-yeong doesn’t know much about the automobile industry, but he could feel that the Samryong automobile factory was a very inefficient structure.
“If the business goes over, I plan to take care of all the rest of the process except here for Korando, Chairman, and Musso. I think leaving a lineup of products that are not productive is itself a huge risk to the management of the company.”
However, I felt that my anxious mind was relieved to some extent when I listened to Jang Tae-tae’s explanation.
‘If it is the original history, it is clear that this talented person named Jang Eun-tae was cut when Samryong Motors was acquired by Daeyou Group. If not, it makes no sense for Samryong Motors to struggle into the distant future.’
Although the day they met was today, it was Ho-young who developed trust in Jang Jang-tae.
“Originally, on a day like this, I should treat you to a meal and talk more… As you can see, I can’t empty the president’s office right now. Next time things get better, I hope we can have a table together.”
“Then, boss, how do you usually eat your meals?”
“I get it done quickly in the staff cafeteria. There is an employee cafeteria in the basement of our headquarters building.”
Hoyeong looked at the watch on her wrist and said.
“It’s dinnertime, so would you like to eat there together?”
“yes?! It is usually a restaurant where employees come. I’m ashamed to say it, but my diet isn’t that good.”
“it’s okay. I want to see the employees of Samryong up close, and it is an important issue to check what kind of food the workers eat.”
“……”
Jang Tae-tae was speechless for a moment.
He was sincerely admiring Hoyoung.
Chairman Kim of the Samryong Group had never gone down to the employee cafeteria for a long time.
However, in a situation where he might not become the owner, he even respected Ho-young, who thought of having a meal with the staff at a restaurant.
“This way. President.”
Jang Eun-tae politely guided Ho-young to the restaurant.
If the previous president was just a president called by title, the current president was a president who came out of his heart.
Jang Tae-tae thought.
If I can get into Hoyeong’s management, I will devote myself to work even more.
