He is Already a Tycoon at a Young Age! - Chapter 52
Only Noblemtl
#052
“Are you an idiot, Aunt?”
In times like this, it’s better to speak directly.
“Am I stupid?”
“Why are you running a credit card business with Samjeong Life Insurance when you can do it yourself?”
When my aunt told me that Samjeong Life Insurance had proposed a credit card business, it must have been to secure more shares in the establishment of a large warehouse mart.
‘It was around this time that Samjeong Life Insurance established Samjeong Card.’
I came to my aunt because I knew that Samjeong Life Insurance would sign a partnership agreement with Samjeong Department Store to secure subscribers when it established Samjeong Card.
“You want me to do it myself?”
“Yes, if we start with a department store discount card and then switch to a credit card and separate the corporation itself, it will be a great help to my aunt when she later separates the department store from the Samjung Group. There is no need for Samjung Life Insurance to help establish a credit card.”
What is clear here is that the second uncle has finally entered into a full-scale war of succession.
“Now that I hear it, that’s true.”
“And I also doubt whether my uncle will help my aunt until the end. If my first uncle becomes the third-generation leader of Samjung Group, will he listen when Samjung Department Store demands separation of the affiliates? It would mean a decline in the group’s sales.”
“Then what about your father?”
“You should ask your father. Auntie, there’s a saying that people don’t change.”
My aunt, who is the president of Samjeong Department Store, nodded at my words.
“And suggest it to your father.”
“What suggestions?”
“My aunt is planning to make a department store card, so ask her if she will give a discount if she buys Samsung Electronics products with that card.”
“That’s right.”
“Even under the same conditions, profits can vary depending on who proposes first.”
“That’s right, people don’t change. Thank you, Ji-seong.”
First, my aunt blocked me from lining up towards my first uncle, the president of Samjeong Life Insurance.
‘If this happens, Samjung Life Insurance and Samjung Department Store will have to give up their credit card business.’
They end up fighting.
If we fight again, we’ll start to hate each other.
* * *
Taean Industry CEO’s Office.
A general from the Army Command visited the president of Taean Industry.
“Senior, the investigation into the Yulgok Project corruption will begin soon.”
“Director Lee Jun-ki.”
“Yes, senior.”
The person who insisted that the Yulgok Project corruption issue should be investigated was Taean Industry CEO Park Moon-soo.
When asked if he had any suggestions when he first met the President, President Park Moon-soo spoke about the Yulgok project.
[You said it was a hotbed of corruption?]
[Yes, we must start an investigation. South Korea is a divided nation. The enemy is clear. Strengthening military power is urgent, and if there is corruption in the Yulgok project, it is an act of treason and an act of aiding the enemy. The military power of the South Korean military will be weakened to the extent that corruption occurs.]
[Revenge?]
[No. The only reason I founded the arms brokerage company was to strengthen the military power of the Republic of Korea Armed Forces.]
“Do you think that Director Lee Jun-ki also made the suggestion because I was burning with revenge?”
“I don’t think so. However, the Yulgok project has many serious problems. And I think that if the government changes later, it could be a double-edged sword since you are leading the Bear project.”
“That will never happen. Soon tanks, armored vehicles and anti-tank weapons will be imported from Russia. Soon everyone will be surprised.”
Taean Industry CEO Park Moon-soo was confident.
* * *
11:00 PM the next day, Samjung Electronics president’s office.
Cho Hee-sun, the president of Samjeong Department Store, had already scheduled a meeting with the president of Samjeong Life Insurance at a hotel belonging to another group affiliate, and after hearing Ji-seong’s advice, she went to see the president of Samjeong Electronics.
“Heeseon, what brings you here?”
“Big brother, doesn’t you like me coming?”
“Hahaha, no. I just said it because I was happy to see you. Is there anything I can help you with? Sales have dropped quite a bit, haven’t they?”
“Actually, that’s kind of true.”
“How about selling the kimchi refrigerators and French-door refrigerators produced and sold by electronics stores at a discount?”
“Is it on sale?”
“Okay, I’ll pay for the discount amount.”
“Big brother!”
Jo Hee-sun couldn’t help but be moved by the fact that the president of Samjeong Electronics was completely different from her second older brother.
[Even if the profits decrease, you will still buy more department store products with your credit card, and that will maximize sales. The decreased profits can be recovered through sales, hahaha!]
“Heesun, you’re a womanizer, so if you just get through this hurdle, you’ll do well.”
“Big brother.”
“why?”
“I’m thinking of creating a department store card to increase department store sales.”
“okay?”
“yes.”
“Then, if you buy Samsung Electronics products with that department store card, I’ll pay the discount percentage of that card. If the sales of Samsung Electronics products increase thanks to the department store card you’re releasing, it’ll help you too. Hahaha!”
It was the same situation, but it was so different.
Cho Hee-sun, the president of Samjeong Department Store, thought she should have lunch today with her older brother, the president of Samjeong Electronics.
‘Even when my second older brother was young, he only cared about himself.’
It was Samjeong Department Store CEO Cho Hee-sun who was smiling.
“Big brother over there.”
“Why again~”
“If my older brother becomes the third-generation leader of the Samjung Group in the future, wouldn’t it be possible to separate the Samjung Department Store and make it independent?”
“Do you want to be independent?”
“yes.”
“If you become independent, there will be many things you have to solve on your own. Is that okay? How about preparing for a perfect separation of the affiliates with your help? And you will also have to take all the shares of the department stores in the group. Then, you may suffer from financial difficulties after the separation.”
“Big brother, are you in favor of separating the family?”
“Heesun, the reason you’re trying to separate the group is because you want to give the department store to your nephews.”
“yes.”
“Heeseon, the department store is yours. That’s what your father said and I think so too. So take your time preparing and build up your skills.”
“Thank you, big brother.”
“Do you want to have lunch together? You still like Jajangmyeon.”
[I think the department store should be given to my little aunt.]
Surprisingly, the president of Samjeong Group was recalling what Ji-seong had said to him when he came to see him the previous night.
‘It’s a good thing Ji-sung is a generous guy. Hahaha!’
The president of Samsung Electronics smiled gently.
* * *
Daehyun Department Store Chinese restaurant special room.
“what?”
The president of Samjeong Life Insurance asked back with a frown.
“President Cho Hee-sun of Samjeong Department Store notified us five minutes ago that she would not be able to attend dinner today due to a sudden schedule change.”
The head of the Samjeong Life Insurance secretary’s office reported with an embarrassed expression.
“You told me 5 minutes ago?”
“Yes, that’s right. And I was wondering if there was anything I could do, so I looked into it and found out that President Cho Hee-sun is currently having a meal with the president of Samjeong Electronics at the Chinese restaurant of Gaya Hotel.”
“Heesun, that damn thing stood me up and was eating with my brother?”
“yes.”
“What is the reason?”
The president of Samjeong Life Insurance asked his eldest son, Director Jang.
“I need to find out why you changed your mind, but my current thought is that you might be thinking of developing your own card.”
“Independent card?”
“Yes, it is likely that I will start a department store card business.”
“What the hell, you’ve been doing all kinds of vixen things since you were little, and now you’re saying this to me. You won’t even get any soup later on.”
It was the president of Samjeong Life Insurance who got up from his seat.
* * *
July 29, 1993, Pacific Investment Corporation office in South Korea.
“Isn’t there too much overtime work?”
Investment manager Han Ji-hoon snapped at team leader Lee Seo-jin.
“If it’s a bonus that’s stuck in your account, shouldn’t you be putting your soul into it, not at night?”
They have already received tens of billions in performance bonuses.
Now, the annual salary had no meaning. And, following Ji-seong’s advice, everyone registered as a corporate business and received an annual salary and performance bonus.
“But if I keep doing this, I’ll probably die from overwork, hahaha!”
“There’s nothing we can do about it. The director has to go to school, so we have to hold the intensive meeting after school.”
“That’s right. That’s really great. At that age, I was busy playing, but you, sir, are busy making money.”
“Well, anyway, it’s certain that we didn’t sell out our country in our past life.”
“yes?”
“I met a young CEO and became a high-income earner.”
“Team Leader, shouldn’t we say that we saved the country at a time like this?”
“If I had saved the country, I would have ended up like you, sir.”
“By the way, aren’t we having a focused meeting today?”
“I forgot, the director went to his parents’ house and said that today’s intensive meeting will be held tomorrow at 6 AM before he goes to school.”
But a focused meeting?
This was a meeting where Ji-sung made important investment points. In some ways, no, in all ways, the four investment managers and one information analyst were Ji-sung’s hands and feet. Of course, Ji-sung did not insist on only the future information he knew.
Their opinions were fully reflected and applied to the investment.
“What if you tell me that now?”
“why?”
“Why? If you earn money, you have to spend it. If I just drive the car the CEO gave me and go to Gangnam, I’ll be the most successful. Hahaha!”
Investment manager Han Ji-hoon was packing up his things when analyst Kim Eung-soo came into the office with three young men.
“Who are you?”
Team leader Lee Seo-jin asked right away.
“These are the newly selected agents who are tasked with understanding the current situation.”
“They’re increasing the personnel again.”
Ji-sung promised a 3% performance bonus to four investment managers and analyst Kim Eung-soo when Pacific Investment Corporation was established. At first, the four investment managers received 3% of the investment profits as a performance bonus, but when analyst Kim Eung-soo joined, the five people split the 3% performance bonus.
“Yes, you have to analyze everything so you don’t make mistakes.”
Since all five of them had completed corporate registration, each of them had to pay their own salaries for the people employed by the corporation. However, Analyst Kim Eung-soo increased the number of individual employees as if he was going to analyze all matters.
“You are really passionate about your work.”
“Yes, because I don’t want to be poor again.”
I think everyone will feel the same way.
* * *
The study of the Samjeong Group Chairman’s residence.
“Jisung, are you saying you’re going to direct traffic yourself now?”
My words may not be pleasant to your grandfather.
“That’s not it, but I think you should know that Grandfather, if you compete with your first uncle and your second aunt over the card business, it’ll be competition between families. I don’t think it’ll look good.”
“The two of you are planning to start a card business?”
“You knew it from the beginning.”
“I knew your eldest uncle was going to start a credit card business. And you were the one who told your aunt, who had no interest in the credit card business, to make a department store card.”
“As expected, you knew everything.”
“As the head of a group, there are things you can’t help but know. But there are also times when you have to pretend not to know.”
“Are you just going to leave it alone?”
“Jisung, your purpose is to keep your first uncle in check.”
“yes.”
“For your father.”
“Of course. That’s competition.”
“The competition has already begun?”
Episode 53
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