God of Corporate Hunting - Chapter 240



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◈ Episode 240: The North Star’s Counterattack (1)

“In the current situation, Chairman Hyun-Seop’s room for maneuver is very limited. He has no cash on hand and most of his stocks are held as collateral, so he has no room to do anything. Also, since he has not completely reorganized into a holding company system, he was able to easily exploit the weakness of the circular investment structure. We should consider ourselves lucky.”

The two people agreed with Nam Yun-myeong’s explanation.

In fact, the two of them did nothing. Hyun Ah-sol made a huge profit by holding on to the stocks of Buk Sung Pharmaceutical, while Hyun Chang-min is in a situation where he can’t do anything. It would have been better if he had just kept the stocks of Buk Sung Pharmaceutical.

When compared to HyunA Sol, Hyun Changmin’s impatience is understandable.

“The current direction is also the will of Ms. Joo Do-hee, who owns the Bukseong Cultural Foundation. As I said before, Ms. Joo Do-hee will soon start donating and inheriting shares. If you want to inherit properly, you just need to stay quiet for now. If you move rashly, I can’t take responsibility.”

Nam Yun-myeong warned again.

But if you don’t listen, there’s nothing I can do.

“Will Dad stay still? Mr. Destiny, you shouldn’t look down on Dad.”

“I know. I’m doing my best.”

“Don’t forget the warning your father gave you today.”

What did you say? I was so caught up in the marriage proposal that I didn’t take care of it properly. It was just a simple threat.

“So for now, we need to stockpile up our forces. We need to secure what we have now and then go to war again.”

In order to start a civil war in Bukseong Construction, the issue of Bukseong Construction shares owned by Bukseong Oil must be resolved. These shares are currently tied up with Korea Asset Management.

Now that Bukseong Oil is in their hands, the task is not difficult.

Nam Yunming explained the current situation and announced some of the future strategies.

Hyun Chang-min and Hyun Ah-sol are not completely on his side. They are just in the middle. That is why we need to be prepared for their betrayal.

Fortunately, we have ample funds, so there is no need to worry.

The reason HyunA Sol’s shares are currently being left alone is simply to reassure the enemy and turn public opinion on their side.

The conversation quickly turned to marriage talk, perhaps because the talk about corporate stocks was boring. Of course, this would be much more comfortable than the stiff conversations about management or stock competition.

Nam Woon-myung, like Yoon Se-bin, made it clear to Hyun Ah-sol that he had no intention of getting married for the time being.

Of course, HyunA Sol wasn’t in a very discouraged mood either.

“I agree! Who gets married right away these days? Try living together before you get married.”

Nam Woon-myung covered his head while looking at Yoon Se-bin’s expression at the calm reaction. Something seemed strangely off.

Yoon Do-cheon’s request came to mind. I feel dizzy for no reason.

* * *

The pressure from Hyunjae Seop first erupted in an unexpected place.

I received an urgent call from Kim Young-dal, CEO of Bukseong AF Tech.

[Director, we’re in big trouble. Bukseong Chemical Energy has notified us that they are refusing to deliver.]

“What’s going on all of a sudden?”

[We are also looking into it in every possible way, but we think it might be the aftereffect of the owner’s family selling off their shares last time.]

“That could be the case.”

Although he answered like that, Nam Woon-myung could guess that it was not because of that, but because of the recent Bukseong distribution incident and the impact of the meeting a few days ago.

[What should I do? In reality, all of my sales are from Bukseong Chemical Energy… … .]

It means the company has to close its doors.

Currently, Seop has chosen the method that causes the least damage to himself while causing the most damage to the opponent. The only remaining shares in Bukseong AF Tech are those held by Bukseong Chemical Energy. At least the damage to the owner’s family is non-existent, but instead, the damage to Mega Asset Management is severe.

“When will it stop?”

[I will give you 3 months.]

“Okay, don’t be agitated and keep producing and delivering.”

[In 3 months… … It’s hard to sell out inventory?]

“It’s okay. They won’t be able to stop delivering either.”

After hanging up the phone, Nam Yun-myeong figured out the circumstances.

Three months is enough time to find a new supplier and sign a contract as a partner. Since Bukseong Chemical Energy also has inventory, if they hurry, they will have enough time to set up a production line at the newly selected supplier and test prototypes.

Of course, it is not difficult to find a new company. Secondary battery materials are an item that will continue to receive attention in the future, so there are countless companies that will jump in if Bukseong Chemical Energy makes a promise. If that doesn’t work out, you can produce it yourself.

In any case, three months is a necessary time for the enemy, but it is also enough time for us to respond.

Shin Cheol-ho asked after hearing his phone call.

“What are you saying? Are you saying that Bukseong is being a bully? This is why big companies are a problem in Korea. They are a problem. They bully people all the time.”

There has never been a day when Shin Cheol-ho looks as pretty as he does today.

“It’s no big deal. I guess Bukseong is just trying to bully others. What can we do? The world won’t let us live well.”

“I am an angel. But what can I do?”

“What should we do? If the other person is being rude, we should respond with rudeness as well.”

“Against the North Star?”

Shin Cheol-ho tilted his head as if he couldn’t believe it.

Now it’s Shin Cheol-ho’s turn to be active.

“Cheol-ho, are you still close with Judy?”

“……Uh, Judy? Of course we keep in touch.”

Shin Cheol-ho glanced at Han Hye-rin sitting over there and answered quietly.

Is this guy interested in Han Hye-rin? Although their faces are a bit different, Nam Woon-myung thinks Jeong Seon-yeong is a much better woman than Han Hye-rin. Or Jo Ha-neul.

Anyway, it’s the guy’s choice, so he has no right to say anything.

“Explain the situation to Judy and try to resolve it. We’ve been bullied. What should we do?”

“Why are you explaining that to Judy?”

“I gave them a treatment for obesity, so how can I ask for something like this? If I have to, I can threaten them by not giving me lithium. Then Tesla can even threaten to reduce the amount of supplies it receives from Bukseong Chemical Energy.”

“Oh! That’s right. Bukseong Chemical Energy also supplies to Tesla. If you look at it from the perspective of superiority, it’s the same as us.”

Respond to bullying with more bullying.

If Hyunjae Seop declares war, wouldn’t you be stupid not to respond?

Of course, there is also a plan B when things don’t go as planned.

CSK owns a considerable amount of Tesla stock. If they use that to pressure Bukseong Chemical Energy Products at the shareholder level, what will happen?

In any case, it is not a mega asset management company that will just give in to it.

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* * *

Hyun-Seop Hyeon met with Kim Hak-Yong, the head of the Future General Headquarters, who had come up in a hurry.

“What’s going on that’s keeping you so busy?”

“Mr. Chairman, have you received a call from Bukseong Chemical Energy?”

Before becoming chairman, Hyun-Seop Hyeon was the president of Bukseong Chemical Energy. Naturally, he was completely familiar with the Bukseong Chemical Energy business from start to finish.

But I didn’t receive any special contact. Thinking that I should fire the new CEO or do something, I asked him instead.

“What are you talking about?”

“Tesla is delaying the delivery of electric batteries. To be exact, for inspection.”

Since there were occasional delays in deliveries, Hyun-Seop took it lightly.

“It’s a common occurrence. But what causes it?”

“This is a check for defects and underperformance. Not long ago, in the US, there was a fire incident where an electric car caught fire due to a traffic accident…….”

Electric car batteries, which are packed with a huge amount of lithium batteries, are virtually no different from bombs. Once they catch fire, they don’t go out.

Research is ongoing to try to reduce the risk, but it has not been completely resolved.

Tesla knows this too, so why are they putting a brake on supplying products because of this problem?

“Rather than that issue… wasn’t there anything else going on?”

“That… there’s something a little suspicious about the back story about stopping the delivery inspection.”

“What did you say?”

“Can we trust a battery that uses materials supplied by Bukseong AF Tech?”

“Huh? All our batteries use materials from there, right?”

“That’s why.”

Only then did Hyunjae Seop fully understand the situation.

“This bastard Nam Unmyeong……”

I don’t know how Tesla got his act together, but the incident was clearly related to his bullying of the North Star AF Tech.

When a large company puts pressure on you, you have to figure it out on your own, but Bukseong AF Tech has chosen to put pressure on you in return.

“How is the North Star AF Tech moving?”

“It’s a mess there, with fire burning under their feet, trying to find another supplier.”

There are three major electric vehicle battery companies in Korea. If Bukseong AF Tech really penetrates another supplier, Bukseong Chemical Energy could be in trouble. To that extent, Bukseong AF Tech has new facilities and considerable technological prowess.

“Ugh! Nothing is easy.”

“What if we revert our relationship with North Star AF Tech back to what it was before?”

Kim Hak-yong cautiously expressed his opinion.

Hyunjae Seop, whose eyebrows had been furrowed, smiled gently again.

“We really won’t stop supplying our batteries, but it would be a waste to upset Tesla. We can’t help it. Let’s do that. We’ll pretend that the refusal to supply never happened.”

Hyunjae Seop, who had sent Kim Hak-yong away, sank deep into his chair.

I feel like I got hit twice for throwing a punch for no reason. I’ve never surrendered like this before, so my pride is stung.

I was starting to get annoyed.

He picked up the cell phone.

When was the last time I made a promise to the Prime Minister? Since I couldn’t pressure the Prime Minister again, I thought I should contact the Secretariat and put some subtle pressure on him.

This time, it will be different from the case of Bukseong AF Tech. Foreign companies and domestic companies are different. It must succeed.

* * *

Suddenly, Financial Supervisory Service Governor Kwon Dong-gil barged in.

Park Won-tae, who was acquainted with the Financial Supervisory Service governor, greeted him at the door, and the governor immediately called Yoon Se-bin.

Fortunately, Yoon Se-bin had just returned from an external business trip and responded to the Financial Supervisory Service chairman’s call.

Nam Woon-myung, who had noticed the purpose of the Financial Supervisory Service Chairman’s visit, went into Park Won-tae’s office even though he had not been specifically called.

“Director Nam? Why are you here?”

The Financial Supervisory Service governor, who recognized him, made a displeased expression.

“I came to say hello.”

“Hmm, okay. Since you’re here, you should sit down too.”

I joined the meeting easily.

After exchanging brief greetings, the Financial Supervisory Service Chairman took a deep breath.

“I came here to tell you… What are you planning to do with Bukseong Distribution?”

“We have to manage it well.”

Park Won-tae answered correctly.

“Why did you have to touch on Bukseong Distribution? As you know, there is a strong aversion to hostile M&A in our country.”

“Isn’t this an act permitted by law?”

“That’s true. But if you take it away indiscriminately like that, the company will feel uneasy. How can you manage comfortably when you don’t know when it will be taken away?”

“If you manage well, you can’t lose it. Shareholders don’t betray managers who earn them a lot.”

As expected, Park Won-tae pushed forward with the correct argument.

“Oh, isn’t that what I meant?”

“Tell me the gist. I see there was an objection from the North Star?”

“That’s right. If funds with a lot of money arbitrarily seize companies, the economy will collapse. Foreign capital is especially problematic.”

Nam Yunming found Beicheng’s claims ridiculous.

The representative company that has been abusing money so far is the Bukseong Group. Isn’t this the kind of thinking that if I do it, it’s romance, but if someone else does it, it’s an affair?

In addition, Bukseong Distribution has not been operating normally up until now. Compared to its potential, it has not been able to grow properly because it has been busy supporting affiliates or taking care of the interests of the owner’s family.

“I have never taken anything without permission.”

The Financial Supervisory Service governor carefully tried to appease Park Won-tae’s excuses.

“I know that too. But Bukseong must be feeling wronged too. Right now, people in Bukseong, both political and financial circles, are complaining about the wrongdoing. Anyway, this time, Mega Asset Management was the one who did it. How about we resolve it quietly?”

“Quiet?”

“Let’s pass this back to the Bukseong Group. The higher-ups are also watching this closely. As you know, it’s not good to look bad to the higher-ups.”

It seems that the one thing that Bukseong had hidden was the pressure from the political world.

At first, it seemed to work well.

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