God of Corporate Hunting - Chapter 280



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◈ Episode 280: The Civil War of the North Star Life (1)

After the current president of Bukseong Chemical Energy, Moon Geon-hae took over as president, he succeeded him.

Bukseong Chemical Energy is the most important company in the group. This proves Moon Geon-hae’s position. Excluding the owner’s family, he is the most important professional manager in the group and Hyun Jae-seop’s confidant.

As soon as the morning came, President Moon Geon-hae received an absurd phone call.

It was an urgent message from the head of marketing for the Americas.

[Tesla has requested a stock swap.]

It is common for friendly forces to exchange stocks, which allows them to form an independent fence for purchasing raw materials and selling products, and to conduct business stably.

Currently, Bukseong Chemical Energy and Tesla also hold a small amount of stock in each other. They use this stake to attend each other’s business strategy meetings and have a say.

“You already have it?”

There was annoyance in Moon Geon-hae’s voice.

The group’s overall funding is currently dry. In addition, the chairman recently issued an implicit order.

He told me to buy Bukseong Life Insurance stocks with my spare money.

Since Bukseong Chemical Energy is the central axis of the group, it holds various stocks of various affiliates. However, it does not have stocks of Bukseong Life Insurance, which is a financial company.

The group’s financial institutions are clearly separated as they are linked around Bukseong Life Insurance.

Since it is an order from the commander, I have no choice but to carry it out, so I am purchasing Bukseong Life Insurance stocks. Regardless of the price.

As the funds dried up, an unexpected request came in.

[You absolutely must do this. It is a request from the famous Tesla CEO.]

“Huh, I can’t help it. You’re the one who’s ahead. If you’re going to be picky, you have to be picky. What can I do?”

[But the content is a bit absurd.]

“What’s so absurd about that?”

[Tesla stocks… … also include Korea’s Kaizen Exploration stocks. Are you saying that you want to swap stocks with both?]

“Kai Resource Exploration?”

Of course, it is a familiar company. It is the company that currently supplies lithium to Bukseong Chemical Energy.

I heard that he went into the construction industry, but his business failed and he almost went bankrupt, but he barely managed to survive. I think he got back on track by discovering lithium deposits in India.

Since lithium is in short supply worldwide, Bukseong Chemical Energy also signed a supply contract. It was possible because of the request of the owner’s family, Hyun Chang-min, and because Bukseong Chemical Energy was not bad at all.

Such a Kai resource exploration and stock exchange.

Given the business connection, it’s not at all strange. It’s just that Tesla asked for it.

“Tesla is worried about lithium supply.”

I heard that Tesla is holding shares in Kaizhou Mineral Resources to stabilize lithium supply. In addition, the fact that it requested Bukseong Chemical Energy to hold shares in Kaizhou Mineral Resources is evidence that it is putting its life on the line to secure lithium.

[These days, the demand for lithium from Chinese battery companies is getting stronger… … .]

As expected, it was as expected.

Since it is a simple stock exchange, it does not involve any money, so I feel relieved.

“how much?”

[Tesla and 5 trillion, Kai Resources Development and 1 trillion.]

It’s not a small scale.

Is it possible with treasury stock? Or should it be purchased from the market? Or should it be a paid-in capital increase? That would have a significant impact on the shareholding structure. He was worried after hearing the news that Chairman Hyun-Seop Hyun recently sold his Bukseong Chemical Energy stocks and bought Bukseong Life Insurance stocks.

“Just push ahead.”

If used well, it could actually be helpful to Chairman Hyeon-Seop.

President Moon Jae-in interpreted the document in the best possible light and reported it to his superiors.

* * *

Nam Woon-myung arrived at the Federation of Korean Industries building with Yun Se-bin.

About thirty people were gathered in the auditorium/banquet room.

These are people whose names alone are recognizable and who control the economy of this country.

Yoon Se-bin entered the auditorium with a face that was no different from usual. Indeed, compliments came out naturally that he had great courage.

Being born with a silver spoon in her mouth and the position she has risen to gives birth to this kind of confidence.

Yoon Se-bin went up to the stage while greeting a few people.

Nam Yun-myeong waited in a corner just below the stage.

The host introduced her as the representative of CSK and Korea Asset Management, and thunderous applause erupted.

To Nam Woon-myung, this scene was truly strange.

All those gathered in the banquet hall today were men, and most were in their fifties or older. This is natural, since they were heads of leading conglomerates.

However, Yoon Se-bin is now a young woman in her thirties, so she is actually the same age as their daughter. In that sense, there was an aspect of their cheering that was difficult to understand.

“Hello. I am Yoon Se-bin. I am honored to be standing here.”

Yoon Se-bin greeted calmly and applause broke out again.

She then began her lecture focusing on CSK’s policies and global economic trends.

“……CSK recently implemented investment asset soundness measures to drastically reduce the size of bad investments. We drastically reduced investments that had high profits but had low future growth potential, and boldly reorganized bad investments. We also drastically increased investments in growth companies related to future industries…….”

Nam Woon-myung looked closely at the faces of the engrossed conglomerate chairmen.

Of course, I don’t remember all their dates of birth. That’s why I mainly checked their close fortunes and physiognomy.

They were so different that it was hard to find unity, but a few of them showed similar luck to Chairman Hyeon-Seop.

Chairman Hyeon-Seop’s luck is… … .

In addition to the civil war in Bukseong, other major events were imminent.

When Nam Woon-myung met his eyes, he quietly approached the seat next to him.

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“It’s been a while, Chairman.”

Nam Yunming appeared to greet her politely on the outside.

Anyway, Chairman Hyeon-Seop Hyun wasn’t interested in Yoon Se-Bin’s lecture, so he just glanced at him and pretended to know him.

“Director Nam, I see you’re doing well.”

“Thanks to the chairman. I see you’ve been buying stocks in Bukseong Life Insurance lately. I heard there’s a lot of talk about it.”

When he suddenly mentioned Bukseong Life, Chairman Hyeon-seop’s expression changed slightly.

“What rumor?”

“Isn’t it full of stock market flyers? If you’re going to buy anyway, why don’t you just buy quietly?”

Despite his question that was slowly scratching at his insides, Hyunjae Seop quickly regained his composure like a seasoned ginger.

“Did you buy it then?”

“Of course. I can’t just get beaten up when someone openly challenges me to a fight, right?”

“You, will you stop messing with our family? I won’t just stand by and watch anymore.”

“Bukseong Life Insurance is clearly Ms. Joo Do-hee’s. Of course, we must help Ms. Joo.”

“Or so it is. It won’t be as easy as Bukseong Distribution.”

“I don’t back down easily either.”

The greeting ended with a glare at each other.

This is enough warning to Hyunseop.

Since Hyun-Seop only sees what he wants to see anyway, wouldn’t he think that he was caught in their scheme? They spread the rumor about the Bukseong Life Insurance scam to take advantage of this.

However, the sinister smile on Hyun-Seop’s face was annoying.

Does this mean that the purpose of calling Yoon Se-bin here today has been achieved?

After the short speech, the audience began asking questions.

After the usual questions about Yoon Se-bin’s background and his thoughts on making a bold bet on CSK, DH Group Chairman Cha Tae-beom asked.

“Seoul City announced the selection of UAM aircraft. Vectorfly, operated by CSK and Korea Asset Management Consortium, was selected… What do you think?”

“Vectorfly has outstanding technical skills.”

“But don’t you think that the result will hinder the development of domestic eVTOL technology? Our DH Group has also been working hard on technology development for many years. But it has come to nothing. If a large capital like CSK pushes ahead with force, there is no way.”

They have adopted the same logic as small and medium-sized businesses that have been protesting against the encroachment of large corporations.

Yoon Se-bin, who was embarrassed, said with a smile.

“Now is the era of globalization. If you don’t become world-class, you can’t survive. The same goes for technology and capital. As you know, Vectorfly is a venture that the Korea Asset Management Consortium invested in from the beginning. It was introduced in several cities other than Seoul. It’s not a difference in capital, but in technology.”

“If you develop technology with huge capital, there is no way to deal with it. If this continues, all domestic companies will go out of business. I don’t know about other things, but if foreign capital invades domestic companies like this case, it will be a problem.”

The people gathered showed an attitude of agreement with Cha Tae-beom’s claim.

In fact, crayfish have no choice but to be crabs.

Then, Cha Tae-beom continued asking aggressive questions.

Nam Woon-myung frowned. Was this the operation that Hyun Jae-seop had intended? It was too weak to be seen as such.

This time, NG Group Chairman Ahn Sang-yeon stepped forward.

“Let’s take the example of the ByGlobal Fund. Is the ByGlobal Fund an activist fund?”

“no.”

“But you sided with the minority shareholders?”

“We do not ignore the rights of shareholders.”

“In our view, the Byglobal Fund interferes in corporate management on behalf of small shareholders. It is like a hedge fund that attacks weak opponents without mercy and takes advantage of their profits.”

“That kind of dichotomy doesn’t help either side. In our country, hedge funds have a bad image, but their positive effects are also…….”

“There have been rumors recently that Byglobal is attacking Bukseong Life Insurance. Can you tell me the truth? Which shareholders is this for? Or is it a hit-and-run strategy to only take advantage? Does it not matter whether the company goes under or not?”

As expected, the hot potato Bukseong Life has come out.

Yoon Se-bin, who had been silently gathering his thoughts, answered the audience again.

“It may not be appropriate to say this here, but what do you think is the biggest problem with Korean companies? Why are Korean stocks treated with the Korea discount, unlike other countries? It is because of owner-centered management and ignoring general shareholders.”

Next, Yoon Se-bin pointed out chronic problems such as the octopus-like nepotistic management system exercised by small-scale owners, dividend issues, physical division, and breach of trust for major shareholders.

“Bukseong Life Insurance is no different.”

“Representative Yoon, are you saying that you are mobilizing CSK funds to attack Bukseong Life?”

“yes?”

“Isn’t that rumor spreading these days? If foreign capital or funds with a lot of money were to take over promising companies one by one, who would be worried and run the company? It would be like only doing good things for others. Korea has its own culture…….”

“We are simply trying to change the owner-centered management.”

Her answer fell on deaf ears.

Displeasure and anxiety were evident on the faces of most of the audience.

“Mr. Yoon, please make it clear. Are you our friend or enemy? What is your intention in trying to break the existing framework by putting the Byglobal Fund at the forefront? If you do not acknowledge our management style, we cannot acknowledge the Byglobal Fund or the policies of Korea Asset Management.”

Then another person spat out aggressively.

“No matter how much CSK is, if everyone here is united, they won’t win.”

“We cannot accept the way Korea Asset Management is taking over affiliates of the Bukseong Group one by one.”

Suddenly, a fierce outcry erupted against her.

Nam Woon-myeong realized that this was Hyun Jae-seop’s plan.

It is a strategy to attack the enemy and strengthen the unity of allies with the same psychological sympathy. The groups gathered here own more than one financial company, so if they just come together, the friendly shares of Bukseong Life will increase significantly.

Perhaps Hyun-Seop Hyun had already increased his stake because he had already given a heads up.

Yoon Se-bin’s expression on the stage hardened heavily.

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