He is Already a Tycoon at a Young Age! - Chapter 60



Only Noblemtl

#060

Jinkyung Group Chairman’s Office.

“The stock price of Taean Telecom, which can be considered a subsidiary of Samjung Group, is unusual.”

The chief secretary to the chairman of Jin Kyung Group reported to the chairman of Jin Kyung Group.

“How much did it go up again?”

The chairman of Jin Kyung Group could no longer help but be wary of Taean Telecom. It was understandable, since Ji Sung, one of the grandsons of the chairman of Samjung Group, was the largest shareholder of Taean Telecom, owning 71% of the shares, and the chairman of Samjung Group also owned 5% of the shares, so he was registered as a major shareholder.

“This is the stock that has soared the most since the opening of the South Korean stock market.”

“So, how much did it go up?”

“It has now skyrocketed to 240,000 won per week.”

“240,000 won? A company that makes pagers and operates a pager service provider gets 240,000 won per share?”

“Yes. The name value of the Samjung Group chairman has had a big impact. Along with that, investors’ expectations are driving the stock price of Taean Telecom to skyrocket.”

“That damn expectation is that Korea Telecom’s mobile communications division will be privatized?”

“Yes, the analysis is that it will continue to rise until next year.”

“A stock that costs 1,200 won has gone up 200 times. Does that make sense? Why are the financial authorities not taking action?”

The reason the Jin Kyung Group chairman is so excited is because of the percentage of shares in Taean Telecom held by the Samjung Group’s founding family.

This is because Taean Telecom knew that it could smoothly secure acquisition funds through the sale of shares when it participated in the mobile telecommunications privatization bid.

“A whopping 76% of the shares belong to the Samjung Group.”

“Yes, I think the competition will be fierce.”

“And the Samjung Group already manufactures and sells mobile phones through Samjung Electronics. But if a company that is no different from a subsidiary of the Samjung Group takes over the telecommunications company, it is literally a monopoly.”

Ji-seong has already secured 1.4 trillion.

Of that fund, 1 trillion won was planned to be invested in the privatization of Korea Telecom’s mobile communications division.

“Chairman, in fact, there are almost no business fields that the Samjung Group has not entered. No matter what anyone says, it is a group that competes for the first or second place in the Korean business world.”

“The problem is that the chairman of Samjung Group, who has everything, wants more, damn it!”

It must have been painful for Chairman Jin Kyung Group to have had no choice but to return the business rights when he was selected as the winner of the Korea Telecom mobile communications division privatization project two years ago due to public opinion.

‘If the craftsman had been in power for only 7 years, it would already be Jinkyung Telecom.’

The chairman of Jin Kyung Group could not help but feel a sense of crisis.

* * *

The next evening at 9:00, Taean Communications President’s Office.

“Mr. Major Shareholder, did you say it was a stock split?”

Taean Communications CEO Kang Cheol-joong asked me back.

“Yes, now Taean Telecom has become a stock that individual investors cannot buy even if they want to because it is too expensive.”

“That’s true. The current stock price has increased 200 times since the largest shareholder acquired Taean Telecom. That’s why the stock market and analysts have classified Taean Telecom as a risky stock. In fact, I think Taean Telecom’s stock price is overvalued.”

“Until next year, Taean Telecom’s stock price will continue to rise. And eventually, when Taean Telecom is selected as a mobile carrier, it will show a slight stock price adjustment period and then skyrocket again. That’s why a 1/10 stock split is needed right now. We need to make investors think that it is a cheap stock.”

[Jisung, are you confident in taking responsibility?]

I remembered what my grandfather, the chairman of Samjeong Group, said to me.

‘Each person is responsible for his or her investment.’

After I make Taean Telecom the best mobile telecommunications company in Korea, I just need to advance into Japan and Southeast Asian countries and help build a telecommunications empire.

“Even if we split the face value by 1/10, it is only 24,000 won per share.”

“But it’s not a novel, so we can’t just split the face value by 1/100.”

“Yes, that’s right. And if we do a stock split, the total number of issued shares will exceed 100 million. If we convert that into market capitalization, it’s 2.4 trillion won.”

“Then, President Kang Cheol-joong must work hard until Taean Telecom’s market capitalization rises to 24 trillion won.”

“Twenty-four trillion?”

He asked me with a look in his eyes that said the stock price could never rise that much.

“Why are you so surprised? As the Korean economy grows, the market capitalization of companies will naturally increase. Just wait and see. Among Korean companies, there will be a company whose market capitalization will exceed 300 trillion won.”

The company that will have a market cap of over 300 trillion in the future is Samsung Electronics.

‘however.’

That Samsung Electronics doesn’t have any semiconductors yet, so it’s less than half the size.

‘Still, the market capitalization will probably exceed 100 trillion.’

From now on, when you think of mobile phones, you will think of Samsung Electronics.

“Are you going to make it like that?”

“Yes, I would like to be in a position of special relationship in a company that is created like that.”

“First, we will announce a 1/10 stock split as you instructed. The financial authorities and investors will be surprised, and the existing shareholders will rejoice.”

The people who benefited the most from Taean Telecom’s skyrocketing stock price are its existing shareholders.

‘I was almost giving up.’

You got lucky.

‘Even if you only have 1 million won worth of stocks.’

It must be 200 million now.

200 million won is enough to buy an apartment in Seoul.

“That’s right, because a stock that costs 240,000 won will look like it’s worth 24,000 won after a par value split.”

This is the method mainly used by Apple.

In my future memory, Apple has grown its market cap this way to an unimaginable level while making its share price look like a low stock price.

‘The market cap has risen to as much as $3 trillion.’

That was possible because it was America.

“Our largest shareholder.”

“Yes, are you suggesting another business unit?”

Starting from Taean Industrial, Young Industrial, Taean Yanghwa, and Taean Electronics, the CEO of Taean Telecom, Kang Cheol-joong, who is a specialist in business management, proposes the most business to me.

“You told me before that the Internet would become the center of the world?”

“Yes.”

“How about acquiring HiTel? I would like to establish an Internet business division within Taean Telecom.”

HiTel?

PC communication!

It could be said to be the starting point of PC communication in Korea.

I nodded without realizing it.

‘Another investment that brings forward the years.’

All we have to do is develop HiTel further and make it into a ‘diver’.

Diver?

It is a South Korean internet search site created with the meaning of jumping into the internet ocean.

Diver is the largest Internet site in Korea that has served as a breakwater to protect the Korean Internet environment from Google, which has taken over the global Internet market.

“If we expand to the Internet business division, it will be huge when Taean Communications becomes Taean Telecom.”

“I think so too.”

“You can proceed. And later, prepare to separate it into an independent corporation.”

“Separation?”

“Yes, and you can call your company Diver.com.”

“Yes, I understand.”

This is the moment when another business is underway.

‘Because we are also progressing steadily in entering the pharmaceutical and biotechnology business.’

Now, it seems that Taean can transform into the Taean Group.

‘If it develops into Taean Group.’

It seems that the first chairman of Taean Group should be chosen from among his great-uncle or President Kang Cheol-jung, who is a professional manager.

* * *

December 30, 1993, the living room of Jiseong’s luxury apartment.

“After graduation, you plan to shorten your time by preparing for the GED exam instead of studying abroad?”

I am a quick learner, so I entered school at the age of six and will graduate next year. Most people think that you can enter school at the earliest at the age of seven, but you can enter elementary school at the age of six. And when I entered elementary school at the age of six, no one thought I was six. Because my physical development was so good.

Even now, when I walk down the street, people look at me like I’m a graduating middle school student, not an elementary school student.

“Yes, great-uncle.”

“Usually, third- and fourth-generation chaebol families choose to study abroad to escape the spoon-fed education system in South Korea, so Ji-seong, how about studying abroad too?”

How to escape from the spoon-fed education system in Korea?

no.

In Korea, where there are many stupid people, it is difficult to compete, so people choose to study abroad.

‘No matter how much money a tycoon has, he cannot buy admission to Seoul National University with money.’

So, there are many cases where they wear clothes that say they are from the study abroad group.

‘No one can afford to spend so much money on expensive private tutoring.’

But I am different.

“I want to shorten the time.”

“Jisung, you have already shortened the time I think in many ways.”

“That’s the investment and business part. My aunt and uncle both know that I’m a genius.”

At my words, my aunt smiled and nodded.

My great-uncle gave me a slightly unlucky look, even though he knew I was a genius.

“But that’s fortunate. I was worried about what to do when our Ji-seong said he wanted to study abroad in the United States.”

Other conglomerates don’t do this.

“Your aunt was worried?”

“Yeah, I thought that after Gaya Hotel transitioned to a professional management system and Samjeong Art Hall was also managed by a professional manager, Ji-seong would follow suit.”

If that happens, my uncle, who is still newly married, will suddenly become a goose husband.

‘No.’

Even the president of Taean Electronics would want to switch to a professional management system in order to be with his wife, his aunt.

‘Why don’t we just establish a professional management system while we’re at it?’

The reason the Korean government and people look at conglomerates with a biased eye is because most of them are family-run businesses run by the head of the group. Of course, if they have the ability, there is no problem. They only need to be criticized for controlling the entire group with a small stake.

And in that respect, Taean is an exception.

“I’m thinking of studying abroad.”

“Are you thinking of studying abroad?”

“Yes, uncle, I plan to pass the secondary school equivalency exam in March next year and then the high school equivalency exam in September. After that, I plan to take the college entrance exam as a equivalency exam graduate.”

“What if I take the CSAT?”

“Of course, I want to use my skills to obtain the Seoul National University admission certificate, which money can never buy.”

“Seoul National University?”

“There is no one in your family who has been admitted to Seoul National University yet. Since there is no one admitted, there are no graduates.”

“You mean you want to enter Seoul National University at the age of 12?”

“Yes, I plan to obtain exchange student status with my own abilities as soon as I enroll. If I can do that, I will be able to finish all my studies by the age of 16.”

If I were 16, it would be early 1998.

The IMF foreign exchange crisis that will hit South Korea will probably be reported in American newspapers.

“Jisung, you’ll need to get permission from your grandfather to do that. I know you won’t think so, but sometimes being different from others can be seen as being wrong, not different.”

“Tomorrow is New Year’s Day, so I’ll go and tell my grandfather.”

“no.”

At that time, my aunt immediately said no.

“yes?”

“Not tomorrow, not the day after, you have to go to your grandmother who loves you like a real grandchild.”

“Ah, hahaha! That’s right.”

My aunt’s wife, Park Seon, the president of Taean Electronics, seemed touched by my aunt’s words.