God of Corporate Hunting - Chapter 204



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◈ Episode 204 Petanos (1)

Finally, the Bukseong Construction shareholders’ meeting was held.

As expected, the current sub’s forces were much stronger.

The rebellion was nothing more than a storm in a teacup.

The Allied Forces were unable to respond properly and the rebellion ended with the appointment of three directors.

Hyeon-Seop Hyun protected Bukseong Construction and used this as a stepping stone to become the chairman of Bukseong Group.

It was a position that had been left vacant after Chairman Hyun Man-heum died.

The first stage of the internal conflict within the Bukseong Group has come to an end.

As the materials were depleted, the stock price of Bukseong Construction gradually slid back to its original price range. The stock that Seop Hyun bought for 80,000 won is now barely holding on to 50,000 won.

In other words, they are losing 30,000 won per week, and the loss increases as time goes by. In addition, the assets used as collateral to secure funds and the interest on bank loans are squeezing them like a murderous death.

If we evaluate the results of the battle between the two camps, the current camp has suffered almost no losses. They sold off stocks from other affiliates to buy stocks in Bukseong Construction, and the average unit price is not high. These stocks will continue to be a weapon that threatens the current sub for the time being.

On the other hand, the average purchase price for the current Seop side is much higher. The worst was the stock that was transferred from Korea Investment & Securities through a public offering at the last minute.

The problem is that it is difficult to sell these stocks again, because you never know when the current camp will demand a change in the board of directors.

So, you can’t sell stocks to repay the borrowed money.

Compared to before the incident, Seop’s current situation has worsened significantly.

Even if you realize you’re in a trap, there’s no way out. In effect, both your hands and feet are tied.

“I’ll be back!”

As the civil war in the North Star Group came to a close, Nam Yunming announced his overseas business trip. It was a journey with no time to rest.

This time, Bae Joo-hyun accompanied us.

Bae Joo-hyun is in charge of Daehan Hydrogen Engineering and is involved in the development of hydrogen fuel cell engines to be supplied to Vectorfly.

“Are futuristic airplanes really just flying around?”

“Yes. You’ll be surprised when you see it.”

Bae Joo-hyun responded to Nam Woon-myung’s boast with half laughter.

At first, Nam Woon-myung thought the same thing. However, after riding the VF-2 developed by Vectorfly, his thoughts changed.

“I’m sure Mr. Bae will also become a fan of Vectorfly.”

Nam Yun-myeong made a promise.

When they arrived at Vectorfly, they could see the research team sweating bullets assembling the VF-3.

It is an evolved version of VF-2.

In addition to Ron Cooper, CEO of Vectorfly, Alex White of H Solutions and Jiseonjae Ji of HM Technology were also present.

Their appearance was very similar to that of the homeless people at Seoul Station. You could tell at a glance how much they were struggling and devoting themselves to development here.

“It’s been a week since I’ve been home.”

Ron complained.

Alex added, chuckling next to him.

“It’s been a week since I washed up!”

“I told you I didn’t wash it!”

The people who had been chatting happily began to explain in front of the curious Bae Joo-hyun.

“Unlike the VF-2, the newly developed VF-3 is equipped with a hydrogen fuel cell engine.”

It is the latest version of the so-called eVTOL, a technology complex of hydrogen fuel cells and secondary batteries.

“Will it succeed?”

“Of course. The engine has passed all basic performance tests. Now all that remains is the actual flight.”

In fact, the engine is the most important thing in eVTOL. It may look the same as the VF-2 on the outside, but the inside is almost completely changed.

Without the help of Daehan Hydrogen Engineering, these results would not have been possible so quickly.

Ron, who had just finished assembling it and tested its basic performance, took off his oily gloves and said:

“Okay! Shall we start the test flight now?”

Since the engine has changed, everything needs to be retested.

Unlike the VF-2, only one pilot was on board due to the risk.

The pilot, who was equipped with a variety of sensors, made a V sign with his fingers to pray for passage.

Bae Joo-hyun shook her head, still finding it hard to believe.

“This thing floats? It flies really well in the movies.”

It’s common to see small drones flying around, but it’s hard to imagine something that resembles a large cable car flying around.

Nam Woon-myung explained from the side.

“The last time I rode it, the flight was smooth. It was like riding a flying car at an amusement park.”

When the busy developers had somewhat settled down, Ron announced the start of the experiment.

With a quiet noise spreading across the floor, the VF-3 began to move.

The VF-3 emerged from the hangar, spun its rotors for a moment to warm up, and then finally took flight.

“Huh? Is that really me?”

“It’s not a chicken, it’s a phoenix.”

The scene of eVTOL flying definitely gives a different kind of joy. It feels like we have stepped into the future society. I was proud of the fact that they, gathered here now, are opening up that future.

Everyone’s eyes were fixed on the VF-3 flying through the air.

The white aircraft circling against the blue sky was dazzlingly vivid.

Bae Joo-hyun’s attitude, which had been half-and-half, changed.

He kept waving his hands and shouting. The Wright brothers, who made their dream of flying a reality, must have felt the same way now.

* * *

We sat down again at the Vectorfly office.

Across from Nam Woon-myung and Bae Joo-hyun were three people who couldn’t hide their excitement: Ron, Alex, and Ji Seon-jae.

“The analysis is not yet complete, but the overall performance is as expected. The VF-3’s capabilities have been significantly improved compared to the VF-2. If we complete the range test tomorrow, it will essentially pass the test.”

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Although it was only a short period of time for Nam Woon-myung, it was a development product that was completed with years of sweat and toil for Ron, the founder of Vectorfly.

Nam Yun-myeong gave generous applause.

“Congratulations.”

“It’s all thanks to Director Nam. If I hadn’t received the funds on time and if the hydrogen fuel cell engine hadn’t been developed, I wouldn’t have even been able to dream about it.”

Ron passed the ball to Nam Woon-myung and Bae Joo-hyun.

After a while of celebrating, Nam Yun-myeong asked.

“But… why did you call me so urgently?”

“Of course, I intended to show you the experiment today, but it is due to the problem of Vectorfly’s early investors.”

Ron gave a long explanation.

Currently, Nam Woon-myung owns a total of 30% of Vectorfly. The founder Ron and developers also own 30%. The remaining 40% is held by institutions or general investors who invested early.

Among the early investors, the largest holding was Advanced Capital, which owned 20%.

“Advanced Capital is selling its stake. They have been struggling with a funding crisis due to the recent Silicon Valley Bank crisis, which has led to a shortage of liquidity. Furthermore, Advanced Capital specializes in Series A and Series B investments, so they do not participate in large-scale investments in preparation for mass production. Now is the time to recoup the investment and get out.”

“How much did you put it up for?”

“Two hundred million dollars.”

At the beginning of Vectorfly’s crisis, Nam Woon-myung was offered $100 million and 20%. That’s twice as much. And finally, he invested $200 million and 30%, so the price is almost 50% higher than the amount he invested.

“You may think it’s expensive, but… eVTOL development is practically in its final stages, so its value is bound to rise. You can see that the value of the stocks that Director Nam invested in has also risen accordingly.”

Ron tried hard to explain to him that it wasn’t expensive, while keeping an eye on him.

In the future of Ron read by Nam Woon-myung, this investment was very successful. The current value is not important. It will increase dozens of times in the future.

“Fate, isn’t it too expensive?”

Bae Joo-hyun looked at me with a look of displeasure.

Of course, Bae Joo-hyun does not have any stake in Vectorfly. It is a company that only Mega Asset Management and Korea Asset Management have invested in. However, there is a reason why he was brought here. If it goes into mass production, Daehan Shipbuilding will have to help.

If they secure an additional 20% stake, Nam Woon-myung will effectively become the largest shareholder.

I have no complaints about the equity ratio, but since I have already invested in the company, I would like to make it even more certain.

“How about buying all the early investors’ shares while buying Advanced Capital’s stock?”

“oh!”

Ron’s mouth opened wide at Nam Woon-myung’s suggestion.

Early investors often lack the financial resources to afford the large-scale investments required for future mass production, which sometimes hinders additional investment.

“It’s all 40%, so try to make a deal for $400 million. We can add a little more if necessary.”

Rondo also agreed with Nam Woon-myung’s confident answer.

“That’s what we were hoping for too.”

If all goes as planned, the only investors left in Vectorfly will be Nam Woon-myung, excluding the founder and developers.

Ron immediately contacted Advanced Capital.

A moment later, two men carrying briefcases came running.

Looking at their faces, they were trying to hide their joy at catching a fool. One was the vice president and the other was the lawyer in charge of practical affairs.

The business-savvy vice president was the first to extend a hand.

“This is Brian Paul.”

After the greetings, the two sides sat facing each other.

Ron explained Namunmyeong’s proposal.

“They say they will acquire all 40% for $400 million. Could you please gather the shares of other general investors?”

“No problem. No one would turn down $400 million. As expected! You guys from Korea are big-hearted!”

There was a hint of sarcasm in his words, but Nam Woon-myung ignored it because he only needed to receive the shares.

Advanced Capital has made a very successful investment, as the company that just completed its flying car prototype is now worth well over 1 trillion won.

It is not certain whether the product developed by this company will beat out all other companies’ products and receive state government approval for commercialization, so it is a good investment to leave at this stage. Of course, it will be painful if it grows much further than this in the future.

As they said they were giving high valuations, Advanced Capital’s movements also became faster.

After making a few calls, Paul smiled and held out his hand.

“I’ll sell them all. Shall we sign the contract?”

The contract was made.

With this, Nam Yun-myeong invested a total of 600 million dollars and now owns a 70% stake in Vectorfly.

Paul, leaving with a winner’s smile, offered some words of encouragement.

“I’m sorry, but I sold it. Vectorfly will grow even bigger in the future.”

Even though his face said the opposite, Nam Woon Myung decided to accept it.

“Yes. You must be happy to have your investment recovered several times over.”

“But it’s still not as good as when I first invested.”

“Mr. Paul, may I ask where you plan to invest the recovered funds?”

“Ah! Well, if you really want to. It’s already been decided.”

“Where is it?”

“I know you’re hearing about it for the first time, but it’s a company called Petanos. We’re signing a contract in New York this weekend.”

“ah!”

Petanos also knows Namunmyeong well.

Because it is a venture that Kang Han-soo, the CEO of MZ Securities, has repeatedly emphasized as promising. MZ Securities’ Global Top Fund also said that it would invest in that venture.

“It may not be pleasant, but we decided that investing in Petanos would be more profitable.”

Paul smiled broadly and left.

Nam Yun-myeong laughed as he looked at their backs.

“If you invest there, you’ll fail…….”

Even if I tried to tell you, you’ve already left so there’s nothing I can do.

Of course, Nam Un-myeong also knows that things won’t change no matter how much you tell him to. People tend to believe only what they believe.

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