He is Already a Tycoon at a Young Age! - Chapter 111



Only Noblemtl

#111

September 12, 1997, Samjung Life Insurance President’s Office.

“Uncle, how have you been?”

As I entered the office of the president of Samjeong Life Insurance, my first uncle, the president of Samjeong Life Insurance, looked at me with an uncomfortable expression.

‘They say that everything comes from family.’

Now I’m trying to do what my grandfather couldn’t. In some ways, it’s greed, and in other ways, it’s business.

“The real power behind the Samjung Group has arrived.”

If you’re being sarcastic like that at that age, you’ll be embarrassed when I’m gone.

“No. I am the largest shareholder of Taean Group. And as the largest shareholder of Taean Group, I have come to propose a business to you, uncle.”

In fact, he is related by blood to the president of Samjeong Life Insurance.

‘So, uncle.’

But I call my great-uncle’s younger siblings, who are not related to me by blood, ‘uncles.’

‘But words with the same meaning.’

The word uncle feels more emotionally close than uncle.

“You want to do business with me?”

“Yes, that’s right.”

“You’re going to do what even the Chairman of Samjung Group couldn’t do? That’s how everything works out?”

“Yes, that’s right. Everything is possible with money.”

The president of Samjeong Life glared at me at my words.

“Have a seat. It looks like you’re trying to become the real power behind the Samjung Group. But Ji-sung, isn’t that seat originally not yours but that of your eldest brother, Ji-hyeong?”

“Uncle, I will solve my problem.”

And that problem has already been solved.

There is no one in Samjung Group, Taean Group, or South Korea who doubts that I will one day become the head of Samjung Group.

‘What people are more curious about is.’

Will I become the 3rd or 4th leader?

“You’re always so confident, okay, so what do you have to offer me business-wise?”

* * *

The office of GL Group Vice Chairman Koo Seong-mo.

“The current South Korea Composite Stock Price Index has fallen to 401 points. If it continues like this, the 400-point barrier will be broken.”

Vice Chairman Koo Seong-mo frowned at the reporter’s report.

“shit!”

“Vice Chairman, if things continue like this, GL Securities and GL Electronics will be transferred to Taean Group under the special agreement and a huge amount of money will have to be paid.”

“I know, I know, I know?”

GL Group Vice Chairman Koo Seong-mo had a gut feeling that his end was approaching.

‘There is no way to create a reversal.’

And now he finally realized why his half-brother, the former president of GL Electronics, lost to the young Ji-seong.

‘This isn’t a fight, dammit!’

As always, time was on the side of intelligence.

* * *

Samjeong Life Insurance CEO’s Office.

“My grandfather and I have come to have great influence in the largest general hospital in South Korea. Of course, internally, it is not about whether we have influence, but rather the ownership level.”

“Is it difficult for general hospitals to run for-profit businesses? The law makes it so.”

“Laws are also made by people. They can be changed.”

The president of Samjeong Life Insurance snickers at my words.

“If this continues, Samjeong Group and Taean Group will become the axis of evil.”

“I know. I don’t like that image. And I don’t plan on making money from the university hospital itself. So now I’m going to propose a business to you, uncle. To be exact, I’m here to help you. Everything is possible, so you have to do it.”

“What is it?”

“Most patients admitted to general hospitals where they can exert influence have signed consent forms for the use of their personal information.”

“Consent to use personal information?”

It is now 1997 and there is still no law protecting personal information. Nevertheless, I created a separate business unit and received consent forms for the use of personal information from patients admitted to general hospitals.

[Will patients or their guardians sign a consent form for the use of their personal information?]

[We need to make them sign. First, we plan to give members who sign the consent form for the use of personal information a discount of up to 90% of the existing cost for CT or MRA scans.]

[Then the deficit will increase.]

[I have no intention of making money from a general hospital.]

[Yes, I know that.]

[We will also be offering discounts on cancer surgery costs for patients diagnosed with cancer at general hospitals, and we plan to also provide significant discounts on post-surgery treatment costs.]

[Major shareholder, if that happens, the deficit will snowball.]

[Instead, you can secure your members’ personal information and use it to the fullest.]

We are already collecting personal information from patients and their guardians.

‘and.’

Since the discount is being implemented as I instructed, all the patients are flocking to general hospitals.

Of course, general hospitals do not become paralyzed just because patients flock to them. Even general hospitals have a set number of patients they can handle.

[Notify all the doctors and hospital staff. Now, let’s put angel wings on their backs.]

[Yes, I understand.]

Now, the general hospital itself will be running at a loss. But that doesn’t matter.

Now, that kind of deficit is just pocket change to me.

“Yes, we are currently collecting the personal information of patients and their guardians. This will be good information for Samjung Life.”

The president of Samjeong Life Insurance was surprised by my words.

“Hmm.”

“It may be vulgar, but if Samjung Life Insurance can use the personal information I have obtained, the amount of various insurance payments will be reduced. And they can also select the life insurance policyholders in advance and receive the benefits.”

“It’s a huge undertaking, but does it really have to be like that?”

“You don’t feel the need now?”

Because the number of current life insurance subscribers is still increasing.

“Yes, I lost to your father, no, to you, and became independent through separation of the family line, but I am still alive and well.”

“Yes, I know. It would help me a lot, too.”

“Okay, so what do I have to give you to get my hands on the information you secured?”

“There is just one.”

“What is that?”

“Come to grandma’s memorial service.”

“Is it really true that everything is possible with money?”

“Yes, that’s exactly what I want.”

The president of Samjeong Life Insurance looked at me intently at my words.

“Jisung, you’re the one who makes it so I can’t beat you till the end.”

It’s a look of slight change in the mind.

“Come back. We were just like other families, but now let’s become a real family. In the big picture I’m drawing, Samjeong Life is essential, and Samjeong Life also needs Samjeong and Taean.”

family?

No, I should say that they are relatives whose faces I only know.

But now it’s better to approach it with emotional words.

“Reconciliation? To do that, I have to give up my greed, right?”

“There is no other way. Now is the time to enjoy the blessed time.”

“A time of blessing?”

“Yes, as you have probably heard, my uncle, South Korea is currently on the verge of national bankruptcy. The entire industry will collapse. In order to rebuild the national economy, the government will lead the consolidation of companies. At that time, we can become the absolute number one in the insurance industry. If we can just take over the life insurance companies that are in danger.”

The president of Samjeong Life Insurance nodded in agreement with those words.

“Jisung-ah.”

“Yes, Uncle.”

“Even now, I don’t feel sorry towards you. No, there’s no need to feel sorry.”

“Yes, I think so too. My uncle lived for his uncle and unfortunately he failed to achieve his goal. However, a new era is dawning. Please enjoy that era with me.”

“Okay, I’ll do as you wish.”

Now we have finally received a real declaration of surrender.

* * *

September 29, 1997, Samjung Group Chairman’s Office.

“As soon as the foreign exchange market opened, the dollar exchange rate rose to the daily limit of 964 won in just 40 minutes, effectively halting trading.”

The Samjeong Group foreign exchange director reported to his grandfather.

“Okay, hahaha!”

The time is getting closer and closer for all of South Korea to become hell.

“You can make huge foreign exchange profits by using dollars secured through foreign corporations.”

“Exchange rate difference?”

“Yes, sir.”

“Think about it. Go out and try.”

“Yes, Chairman.”

After the Samjung Group foreign exchange director answered, he left his grandfather’s office.

“As always, Ji-sung is as you say.”

“It hasn’t even started yet.”

“Yes, if it is as you say, the exchange rate will rise to 2,400 won per dollar. But I think it is time to increase the exchange rate profit as reported by the exchange rate manager.”

“Yes, I came to see you because I thought you might be a greedy person.”

“Am I being greedy? Are you saying I have to wait longer than originally planned?”

“no.”

“no?”

“Yes, it is really a big penny-pinching for the Samjung Group and Taean Group to secure huge foreign exchange profits with the dollars they have secured now. The secured funds should only be used for importing raw materials from overseas and making payments. They should never be allowed to flow into South Korea.”

The current South Korea Composite Stock Price Index has finally reached 399 points.

[It is analyzed that the 380 point level will be maintained until the maturity date this year.]

[So what are the contingencies that could occur?]

[These are the dollars secured by the Samjung Group and Taean Group. The exchange rate is rising sharply every day, and the government and South Korean companies are having difficulty securing dollars.]

[Yes.]

I am asking the Taean Group CFO a question even though I know everything.

‘The huge foreign exchange profit from the current dollar inflow.’

It’s poison to me.

[The reason South Korea is currently on the verge of national bankruptcy is because of a dollar shortage. This could be resolved all at once.]

‘Me too at first.’

I was thinking of making a profit if the dollar soared.

However, I have currently invested in a derivative product related to the plunge in the Korea Composite Stock Price Index, and the maturity date of that derivative product is 3 months away.

“Now that I hear it, that’s true.”

“When I told my grandfather that he needed to secure dollars in advance, I also expected a huge exchange rate profit. However, I changed my mind after seeing Thailand. The Thai economy is stabilizing faster than expected due to the inflow of large amounts of foreign investment funds.”

Of course, that overseas investment is my money.

I am taking control of the Thai economy by establishing various joint ventures with private investment banks during the Thai economic crisis.

‘First, we are establishing roots in Thailand’s financial industry.’

It has entered the hugely profitable tourist casino business in Thailand.

In addition, to compete with Cargill, an American grain company, large farms were built.

In addition, grain industry infrastructure was being built to enable the crops produced to be sold worldwide.

“If dollars flow into South Korea now, South Korea can escape the economic crisis to some extent. However, if that happens, the South Korean economy will not change and will never be able to transform.”

The grandfather nods his head to what I say.

“And there’s also the problem of derivatives?”

Grandpa knew it too.

“Yes, Grandpa, in three months, GL Securities and GL Electronics will merge into Taean Group.”

“When that time comes, I too will have to sell Samjeong Securities to you, right?”

“Yes, Grandpa, just with that alone, Taean Securities will become the largest securities firm in Korea. Of course, that’s just the beginning, and the real goal is to become an investment securities firm larger than Lehman Brothers.”

At my words, my grandfather smiled brightly and said.

“Yeah, you’re always right, hahaha!”