He is Already a Tycoon at a Young Age! - Chapter 53



Only Noblemtl

#053

“If you’re born into a wealthy family, you can’t help but compete from the moment you’re born. Of course, no matter how much you compete, you may think that it’s ultimately up to your grandfather’s will, but I think there may come a time when you can’t control it.”

“That doesn’t happen.”

“Grandpa, are you sure?”

“Jisung, do you think my children might reject what I say?”

“If I tell my first uncle to give up the credit card business, he will think that my grandfather chose my father as his successor and is wary of Samjung Life Insurance’s expansion. And if I tell my second aunt to stop expanding into the credit card business through department store cards, she will think that I am not allowing the separation of the affiliates. I think it would be a good idea to see who will listen to my grandfather.”

“So you’re trying to sow discord?”

“Because there will be no friendly and peaceful succession.”

“Do you think so?”

“I think that’s what my grandfather would think. If we divide it amicably, the size of the Samjung Group will shrink. But if we let the successor monopolize it, just like now when the grandparents don’t attend the great-grandfather’s memorial service, the family will be divided on the grandfather’s memorial service later.”

“Jisung, you’re being harsh today.”

“Yes, Grandfather, if you want to inherit some of the affiliates of Samjung Group without separating them, it should be my first uncle, not my father. Then, my aunt’s dream will disappear. My father will definitely try to distribute it amicably.”

My grandfather, the chairman of Samjeong Group, stared at me intently as I spoke.

“So what do you think?”

“Do my thoughts matter now?”

“You consider yourself one of the competitors, right?”

Actually, I came here to hear these words from my grandfather’s mouth.

“If that’s what you think, Grandfather, you should live long and prosper.”

“Heh heh, you little bastard, tell me what you think.”

“I wish I had chosen to be as affectionate as my father.”

“Why?”

“I hope there won’t be any internal strife within the Samjung Group. In the future, the Samjung Group should be the mainstay of the defense industry based on electronics, bio-pharmaceuticals, and aerospace launch vehicles, as well as the seed industry focusing on developing new varieties.”

The four businesses I mentioned are the industries that will lead the future for the next 100 years.

“I think the news agency is missing?”

“We intend to leave the telecommunications companies, hotels and securities as the most closely related affiliated groups.”

“Is that your part?”

“The businesses I have decided to make big are telecommunications and securities companies. I think hotels will be mine until the right circumstances come into being.”

“Good situation?”

“Yes. Grandpa, science is advancing. I don’t think my great aunt is completely infertile. Even if she was completely infertile in the past, I think things can change with the advancement of medical technology. If that happens, my great aunt might really have a twinkling little star, and I hope so.”

“Then everything might change?”

“It’s just the small details that change. But I want my aunt, who loves me the most, to be happy. That’s what my grandfather wants. And my grandfather wants to pass on the department store to my aunt and allow her to separate the affiliates.”

“Hmm, you’re definitely different.”

“Yes, it should be different. I am confident that I can grow the Samjung Group bigger. In every business sector we enter, our goal is not to be number one in Korea, but number one in the world. So I think it would be okay to separate Samjung Life Insurance, Samjung Trading, and Samjung Department Store.”

“Okay, let’s see how your first uncle and your second aunt turn out.”

Grandfather also said he would test both of them.

“Yes, Grandpa.”

“Jisung, one time is enough to cause discord.”

“yes.”

“The reason you do this is because you think your first uncle is your father’s rival.”

“Thinking like that will end next year.”

“Will it end next year?”

“Yes, because next year the telecommunications company will become Taean Telecom. Until now, my father has never had an outside white knight, but not anymore. And the reason my first uncle is suddenly trying to enter the credit card business is because he knows that Taean Electronics has secured 400 billion won by issuing corporate bonds, so he is nervous. Until then, and even now, my first uncle thought he was enough to compete with my father over the Samjung Group. However, by September of this year, he will change his mind, and by next year, he will have completely given up.”

“In the end, you will become your father’s rival.”

“Is that okay?”

I asked my grandfather cheekily.

“You don’t have to have answers for everything right now.”

My grandfather, the chairman of Samjeong Group, took a step back.

“One thing for sure is that if you have the ability, you will take it even if I object. It’s the same for anyone else, not just you. Okay, you gave me homework, so I’ll start by solving it. Now go. Still, I feel reassured that you think of your first aunt that way.”

Grandpa will check it right away.

‘If a little star is held in the arms of a great aunt.’

My great aunt might change.

But my great-uncle, the president of Taean Electronics, will never change.

Because it’s written like that in the translucent personal statement that I can see.

* * *

August 2, 1993, special room at Gaya Hotel Korean restaurant.

As planned, the president of Onsegae Wireless Communications entered the special room of the Korean restaurant at the Gaya Hotel, which was the meeting place.

He looked puzzled when he saw me sitting with the president of Taean Electronics.

“My name is Park Seon from Taean Electronics.”

“My name is Oh Jin-myeong.”

“Please sit down.”

My great-uncle politely offered a seat to President Oh Jin-myeong.

‘His peculiarity.’

It’s a pity.

‘A failed businessman who missed out on a huge patent deal related to new materials?’

New material?

And on top of that, it’s a patent.

In other words, this means that Onsegae Wireless Communications holds patents related to new materials.

“who?”

President Oh Jin-myeong looked at me and asked my uncle.

“We are the largest shareholder of Taean Electronics.”

“Oh, I see.”

President Oh Jin-myeong sat down. He was looking at me with a really curious look.

“Hello. My name is George Sung.”

He smiled brightly as he looked at President Oh Jin-myeong.

“I am a little embarrassed. I came here because Taean Electronics clearly proposed an investment to me. But I didn’t know that Taean Electronics would bring along a young major shareholder.”

“It may be embarrassing, but you can discuss investment-related matters with the largest shareholder.”

“You want me to do it with that kid?”

This is President Oh Jin-myeong with a truly absurd expression on his face.

“You need money, right? It doesn’t matter if there’s no one to give it to, right?”

“Do I look like I need money?”

“I understand you entered the country from Macau this morning.”

President Oh Jin-myeong’s expression hardens at the mention of Macau.

“So this is why conglomerates are scary. Did you do any background checks on me?”

As I said, President Oh Jin-myeong looked at his uncle and asked with a displeased expression.

“I told you to look at me and talk.”

“you?”

“Yes, it’s me, it’s me. I’m the decision maker.”

At my words, President Oh Jin-myeong looked at me intently.

* * *

GL Electronics President’s Office.

“Did you find out?”

After successfully acquiring Korea Semiconductor, the president of GL Electronics was so excited that he didn’t even think to check how much Taean Electronics had paid in the public bidding. After the excitement died down, he instructed his close associate, Director Jang, to check.

“Yes, sir.”

“Why is your expression like that?”

“I don’t know what to say. I feel like I’ve been scammed.”

“You think you got hit?”

“Yes, I think Taean Electronics never intended to acquire Korea Semiconductor from the beginning. I heard they put in 120 billion won in the acquisition bid.”

“120 billion?”

The president of GL Electronics asked back with an expression of disbelief.

“It was definitely 120 billion.”

“So, you’re saying that you showed up at the Korea Semiconductor auction with the intention of spending 120 billion won, along with the chairman of the Samjung Group and even your grandson?”

“Yes, it seems like it was all a ruse to deceive GL Electronics.”

“You did that to get me to write more money?”

The GL Electronics president was absolutely ridiculous. And goosebumps immediately appeared all over my body.

“Samsung Electronics and the chairman of the Samjung Group planned the whole conspiracy as soon as they realized that GL Electronics was interested in Korean semiconductors, considering the semiconductor recession. In short, they handed over a poisoned chalice.”

“I was fooled by that conspiracy and spent 420 billion won to acquire Korea Semiconductor.”

“That’s the reality. Now, the amount of reserve funds remaining within the company is only 80 billion.”

“You crazy bastard, do you hate me that much, damn it!”

The president of GL Electronics thought that all of this was planned by the chairman of Samjung Group. However, the person who was putting GL Electronics in crisis was Ji-sung, the youngest grandson of the chairman of Samjung Group.

“and.”

“And what?”

“Foreign semiconductor companies have simultaneously lowered the prices of memory semiconductors by 20%.”

The chicken game has finally begun.

Of course, you could call it a chicken game, but on the other hand, you could say that it is a survival game to survive the semiconductor recession.

“20%?”

“Yes, that’s right. In this situation, it is quite possible that Japanese or Taiwanese semiconductor companies will lower their prices by 30%.”

“That’s right. But I have to hold on. I have to hold on for that adult’s sake, and after becoming the number one semiconductor company in Korea, I have to dominate the global semiconductor market.”

The GL Electronics president now had no choice but to become obsessed.

* * *

Samjeong Life Insurance CEO’s Office.

“Father, why are you here?”

“Why don’t you want me to come?”

“Haha, no. Please sit down.”

“Okay, let’s sit down. Are you going to start a credit card business?”

As soon as he sat down, the chairman of Samjung Group asked.

“Yes, we started a life insurance secured loan business and the sales are quite good. So we are preparing to expand the business.”

“An insurance company is establishing a credit card company as its subsidiary?”

“We are now transitioning to a credit society. So I think it is too late to enter the credit card business.”

“Let me say it again, is it right for an insurance company to establish a credit card company as a subsidiary? It is the group’s job to manage affiliates, and even if a credit card company is established, that is something that Samjung Group does. I don’t think it is something that an affiliate called Samjung Life Insurance should do.”

It was the president of Samjeong Life Insurance who immediately frowned at his father’s words.

“Oh, but there’s no rule that says it has to be that way.”

“Second, are you thinking about separating the group already?”

“yes?”

“Or are you trying to increase your subsidiaries without telling me to secure funds?”

“yes?”

“I’m asking if you’ve decided to compete with your brother.”

The president of Samjung Life Insurance looked at his father for the first time at the words of the chairman of Samjung Group.

“Father, is that not okay?”

Episode 54