He is Already a Tycoon at a Young Age! - Chapter 49



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#049

“How about acquiring the cassette business unit, transferring CD player technology through Sony, and going straight into production?”

“If we proceed with the formal process, it will cost us a lot of money to acquire the cassette business unit. In addition, it is questionable whether Sony will transfer its CD player production technology.”

“It would be possible if you paid a technology partnership fee of more than 5%. But if they refuse, you have to disassemble it, check the parts, reassemble it, and make a copy. In fact, that’s how Sony grew.”

After Japan lost the Pacific War and was revived by the Korean War, the next thing it did was send a huge number of industrial inspection teams to the United States. They were called industrial inspection teams, but they visited American companies, took secret photos, and tried their best to steal technology.

‘If you don’t have the skills, you have to do it that way.’

Anyway, the Japanese company that has been focusing on such things is Sony.

“So that’s what you want me to negotiate with.”

I laughed at my uncle’s words.

“I understand. We can’t sustain a deficit-run company for two to three years, so we’ll try our best to find ways to generate revenue.”

“yes.”

“By the way, the public sale of Korea Semiconductor will be held in a week.”

“GL Electronics must be really nervous, right?”

“That’s right. I really hope Ji-sung’s plan works out as planned.”

“That will definitely happen. The GL Electronics president has already lost his way.”

And by now you must have heard about the release date of Samsung Electronics’ mobile phone.

‘It’s really September.’

But I told him to tell me it was December 24th.

At that time, the president of GL Electronics instructed Mr. Kwon Hyuk-soo to throw out the top secret that the mobile phone that Samsung Electronics was releasing had a color LCD as bait.

* * *

GL Electronics President’s Office.

“When? You still haven’t confirmed it?”

“No, I figured it out.”

The expression on the face of the GL Electronics president brightened at the sales director’s words.

“The reason I was defeated in the kimchi refrigerator fight last time was because the information was leaked. Otherwise, Samsung Electronics would not have been able to release the kimchi refrigerator a day before us.”

“Yes, that’s right. We conducted a massive investigation into that and fired suspicious executives.”

“yes.”

Of course, there were quite a few suspicious executives who were wronged because there was no evidence. And Ji-sung scouted all of those employees to Taean Electronics through Park Sun, the president of Taean Electronics.

At the same time, I was able to obtain new information about GL Electronics.

“When will it be released?”

“It is scheduled to be released on December 24th. They say they will secure market share through large-scale marketing as it is Christmas Eve.”

“It’s September for us.”

“Yes, that’s right. It’s about three months early. That’s enough time to dominate the market.”

“Hahaha, hahaha! Okay. Okay. Then it’s okay. From September to December 23, I’ll sell it at the original price, and on Christmas Eve when Samsung Electronics releases its mobile phones, I’ll return the favor just as I received it.”

“But sir, there is a problem.”

“What’s the problem?”

“We have obtained even more incredible intelligence.”

“So, what is that?”

The president of GL Electronics had an ominous feeling without realizing it.

‘I hope you haven’t developed anything new.’

When GL Electronics saw Samsung Electronics’ kimchi refrigerator commercial on TV, they immediately thought they had completely lost. GL Electronics’ kimchi refrigerator is a box-shaped kimchi refrigerator that opens from the bottom up, but Samsung Electronics released a product that was indistinguishable from a kimchi refrigerator to a regular refrigerator, so they thought they couldn’t win. That’s why they became anxious.

That’s why there is a proverb that says, “A heart that is surprised by seeing something grown up will be surprised even by seeing a pot lid.”

“Surprisingly, the LCD of the mobile phone released by Samsung Electronics is not black and white, but color.”

“Color LCD?”

“Yes, that’s right.”

“Is that possible? Is that possible with the technology that Korean electronics companies have?”

The president of GL Electronics was furious.

“It is said that the president of Samsung Electronics has been making frequent business trips to Japan since last year.”

“So you’re saying that it was produced by obtaining technology from a Japanese electronics company?”

“Japan doesn’t have a cell phone with a color LCD yet. It’s probably the first in the world.”

The expression on the face of the sales director, who was the closest associate of the GL Electronics president, was equally miserable.

“World’s first?”

“Yes, it will.”

“Does color liquid crystal technology exist?”

The president of GL Electronics was someone who could not believe the intelligence he had obtained.

“Yes, from what I’ve found out, a Japanese electronics company has already developed a 1cm thick color LCD. However, it’s too thick to be used in mobile phones.”

“Then, does that mean that the LCD of the mobile phone developed and released by Samsung Electronics is 1cm thick?”

“It is most likely that the thickness was made thinner.”

“Sales Director, can we develop this in 3 months?”

“It’s realistically impossible.”

“What the hell!”

Even if it was released quickly, it would have been pushed back if Samsung Electronics’ color LCD mobile phone sold well.

“Okay, then we’ll have to decide on quantity.”

“yes?”

“Post the release date to October, and notify the production plant to increase production by 50%, and sell it at 30% lower than the set price. Cell phones are expensive products, and you can’t just replace them with a better new product that’s just been released.”

“That’s true.”

“After you’ve secured market share through low-price offensive, you can start developing technology and make the next model with a color LCD. That’s it.”

The president of GL Electronics took a risk.

No, I should say that there is no other way.

“Yes, I understand. I will give instructions right away.”

“If we acquire Korea Semiconductor, GL Electronics will have to focus more on the semiconductor business. The semiconductor market is a market where competition based on scale is possible.”

* * *

July 13, 1993, Macau Sands Casino Hotel, Suite.

“Boss, you’ve already lost 1 billion.”

“Contact the head office and ask them to send some more money.”

Surprisingly, the president of the wireless communications company was in Macau. And yesterday alone, he lost a whopping 1 billion won in the casino.

“There is no way to send money now.”

“Damn! If only I had succeeded in investing in Nikkei index derivatives last time, I wouldn’t be in this situation.”

Oh Jin-myeong, the president of Onsegae Wireless Communications, also invested in the Nikkei index decline derivatives that Ji-sung invested in, but unlike Ji-sung, he invested in the opposite direction. The amount of money invested at that time was a whopping 5 billion won, and it was all company money.

In a word, it was embezzlement and breach of trust.

“This was something that even major Japanese securities firms could not have predicted. This was a situation where there were many indicators that the Japanese economy would recover after the Nikkei index continued to decline for several years.”

“So, the damn Nikkei is the reason I’m in this situation. Stop it, send me more money.”

“There is no more money. Sir, if we continue like this, we will be in serious trouble. Now, you need to start by raising 5 billion, no, 6 billion.”

“Fill it up right now, by any means necessary.”

“There is a way.”

“Is there a way?”

“Yes, Taean Electronics has proposed an investment.”

“Taean Electronics? That’s a company I’ve never heard of before.”

“It is a company founded by the eldest son-in-law of the Samjeong Group.”

“If you are the eldest son-in-law of the Samjung Group, aren’t you the president of GL Electronics?”

“I got divorced a year ago.”

“Yeah, I was out of my mind. So?”

“This is a company founded by the new son-in-law of the chairman of Samjung Group, and they have proposed an investment.”

“Samjeong Group will enter the wireless pager business?”

“I think so.”

“You’re going to ask for a stake?”

“There is no investment without transfer of shares.”

“They’re going to swallow the whole company.”

President Oh Jin-myeong frowned.

In fact, Onsegae Communications was a sound company in the electric electrode coating sector when the founder was managing the company. After the founder handed the company over to his eldest son, when President Oh Jin-myeong first entered the wireless pager business, the growth graph was on an upward trend. However, now that the founder has passed away, Oh Jin-myeong, who has become an unbridled colt, is ruining the company.

‘Just sell it whole?’

President Oh Jin-myeong knew better than anyone that his company had no future.

“I’m sure that’s the intention, but 6 billion can be filled.”

“How much equity should I ask for?”

President Oh Jin-myeong’s stake in the company was surprisingly 51%.

“I would ask for at least 25%.”

“Up to 25% of 6 billion?”

It was President Oh Jin-myeong whose gaze changed completely.

“So you must enter the country.”

“There will be about 6 billion more. If the company can’t send the money, I can borrow it here.”

This is why gambling is scary.

Because it makes you lose your judgment completely.

* * *

July 14, 1993, in front of the Korea Semiconductor Sales Bidding Building.

When the chairman of Samjung Group got out of the luxury car, all the reporters in front of the bidding site were surprised. The chairman of Samjung Group established Taean Electronics and participated in the acquisition of Korea Semiconductor in order to support his eldest son-in-law. Everyone had that suspicion in their eyes. It was all according to my plan.

And the GL Electronics officials who were in front of the lobby hurriedly ran into the lobby with surprised expressions.

“Jisung, aren’t you going to school?”

As soon as I got off, my grandfather asked me.

“Thank goodness today is the school anniversary, so school is closed.”

I looked at my grandfather and smiled broadly.

“Haha, I see. Mr. Park, let’s go in.”

“Yes, Master.”

“Jisung, you should also come for a tour.”

“Yes, Grandpa.”

After answering my grandfather, I thought back to the conversation I had with him yesterday.

[Should I come to the Korea Semiconductor Open Bidding Hall in person?]

[Are you busy?]

[The seat I’m sitting in is one that can’t help but be busy.]

[You should come anyway, because if your grandfather shows up, the president of GL Electronics will be surprised and increase the bid by 10 billion won.]

[Will you spend 10 billion more?]

[Yes, if even my grandfather, the head of Samjung Group, comes to the Korea Semiconductor public sale bidding site, the president of GL Electronics will think that Samjung Group will definitely acquire Korea Semiconductor. And he will think back to the kimchi refrigerator era. Then, he will be determined to win this time, and since the amount of Taean Electronics corporate bonds issued last time was 400 billion won, he will have to spend at least 410 billion won, but with my grandfather’s appearance, he will have no choice but to spend more than that.]

[That makes sense.]

[Yes, I can tell you for sure that Korean semiconductors will be poison to GL Electronics.]

[I get it.]

The grandfather was so persistent towards his old son-in-law who kicked out his eldest daughter, his great-aunt.

“Mr. Chairman, are you going to acquire Korea Semiconductor through Taean Electronics? Does the fact that you came to the Korea Semiconductor sale bidding site in person mean that Samjung Group is committed to acquiring Korea Semiconductor?”

As I tried to enter the building, reporters blocked me and barraged me with questions.

Episode 50