He is Already a Tycoon at a Young Age! - Chapter 61



Only Noblemtl

Episode 61

Episode 61

January 5, 1994, the residence of the Samjung Group Chairman.

“Mr. Park.”

From January 1st to 4th, I was forced to stay at my grandmother’s house according to my great-aunt’s wishes. Along with that, my great-aunt became a public enemy to her younger sisters-in-law. Anyway, I welcomed the New Year, and I was only able to come to my grandfather’s mansion on the 5th.

“It’s already been four days since New Year’s Day.”

“I’m sorry. It was beyond my ability to do so.”

“I guess that was what Misun meant?”

“yes.”

“Jisung-ah.”

“Yes, Grandpa.”

“What’s that box on the floor?”

“These are sweet potatoes sent by my grandmother in Namji-eup. They are pumpkin sweet potatoes. My grandmother told me to take them to my grandfather.”

“You sent me this precious thing, Mr. Park.”

“Yes, Master.”

“Tell your in-laws that I will enjoy this meal.”

“Yes, I understand.”

“By the way, is Ji-seong entering middle school now?”

“Father, I have something to tell you about that.”

“For that?”

“Yes, Ji-seong will tell his father himself.”

My great aunt came forward first.

“Jisung, you’re not telling me you’re not going to middle school, are you?”

The person who knows and analyzes me best is my grandfather, the chairman of the Samjung Group.

“How did you know?”

“Do you think time is a waste? And Mr. Park.”

“Yes, Master.”

“What do you think, Mr. Park?”

“Jisung doesn’t have much to learn in middle school, but he will gain a lot from his middle school and high school life. I want to stop him from giving it up, but his will is too strong.”

“i think so too.”

After speaking to my great-uncle, my grandfather looked at me.

“Jisung, I know you have genius potential, but sometimes you need to be ordinary. You say you’re saving time, but you’ll lose the friends you could make in middle school. Do you still plan on not going to middle school?”

“Yes, elementary school kids were like friends at the beginning of the semester, but at some point, they started to notice me. No matter how much I tried to hide it from my grandfather, he found out. So I don’t think I’ll be able to make real friends even after I enter middle school. That’s why I want to choose the option of shortening the time. I plan to take the middle school qualification exam in April, finish the high school qualification exam in August, and then take the college entrance exam.”

“College entrance exam?”

“Yes, my school friends are enough if they are elementary school friends and college classmates. I actually thought about studying abroad, but I don’t think I can make it to the fall semester. So I plan to take the CSAT first and then enroll in the business administration department at Seoul National University.”

“expected?”

“I’m the type of person who can do anything I set my mind to. Seoul National University is the most prestigious university in Korea. That’s why it’s a certificate of admission that money can’t buy. I’ll give it to my grandfather as a gift. Of course, if the situation allows me to go to a famous American university as an exchange student, I wouldn’t hesitate.”

“The plans have already been made.”

“Yes, if I go as an exchange student, I plan to take the college entrance exam again in the US and transfer to Harvard University.”

“If you do that, how much time do you think you can save?”

“Three years is enough to graduate, because American universities have an early graduation system. I plan to finish all my intermediate studies by the age of 17.”

“Midterm studies?”

“I’m also thinking about graduate school at Yale or Harvard.”

“Hahaha, it looks like you really want to become a proper entrepreneur.”

“That’s my dream.”

“Wouldn’t you be lonely if you went alone?”

“Father, you don’t have to worry about that. I’m thinking of following Ji-seong to America.”

“If you go to America with Ji-sung, which hotel should you go to?”

“We can just switch to a professional management system. Hahaha!”

Grandfather looked dumbfounded at his aunt’s words.

“Professional manager?”

“yes.”

“Is intelligence what you think?”

“I think a professional management system would be good. In reality, what matters is not who manages the company, but how much the company grows and proves its value.”

My grandfather stared at me as I spoke.

“Grandpa, the important thing is that the fact that I am the largest shareholder does not change.”

“That’s just your opinion. Among the families of conglomerates in South Korea, there is no group that can control the group with just their own shares.”

“If it doesn’t exist, we have to create it.”

“How to make it?”

“Samjeong Group may have a hard time right now, but Taean Group may be able to do it.”

“Taean Group?”

My grandfather looked at me again with a bewildered expression.

“Yes, there are already more than five companies under the name Taean. And there will be more in the future. So there will be no problem in calling it a group.”

“If you do that, you’ll say that you’ll put the Gaya Hotel in the Taean Group, not the Samjeong Group.”

“Grandpa, you must be nervous.”

When I looked at my grandfather and smiled, he looked at me for a long time before smiling again.

“I need to work hard on this too.”

“I think you should, Grandpa. I have some business-related matters to discuss with you. Do you have time?”

“Are you saying we should meet in the study?”

“Yes, Grandpa.”

“Jisung-ah.”

“Yes, Grandpa.”

“First of all, I don’t have money.”

“I know, and as of now, I have more short-term cash flow than my grandfather.”

“Hahaha, you little white guy, see you in the study.”

* * *

Pacific Investment Corporation Office.

“A public auction has been held for Taean Communications.”

The investment manager of Fleet Road said to the team leader, Lee Seo-jin.

“The stock price has really gone up a lot. How much is the short selling?”

“It’s worth 45 billion won. There aren’t many investment firms in Korea that can engage in short selling on this scale.”

“Then who do you think it is?”

“It seems obvious to anyone that GL Electronics is burning with a desire for revenge, so it seems that the president of GL Electronics is using GL Securities, a subsidiary of the GL Group, to carry out a roundabout attack.”

“You’ve been hit twice, so now you want revenge.”

“Yes, team leader.”

* * *

GL Group Chairman’s Office.

“It is as I reported.”

The GL Group Secretary General spoke to the Group Chairman.

The GL Group chairman frowned as he looked at the documents.

“If things continue like this, there will be no reversal?”

“Yes, in terms of market share, the color LCD mobile phone released by Samsung Electronics achieved a market share of 55%. It is a market share that even surpassed Motorola, which had previously been number one in the country.”

“It is true that GL Electronics has a 10% market share in mobile phones.”

“Yes, we were defeated again this time.”

“Chief Secretary.”

“Yes, sir.”

“At this point, I should be questioning the management ability of the GL Electronics president.”

“Mr. Chairman, you should give the GL Electronics president more chances to create a turnaround opportunity.”

“And what if I lose again?”

“I think it’s not too late to think about it then.”

“Hmm, I see. If you’ve been hurt, you should think about getting revenge by any means necessary. Tsk tsk!”

The GL Group chairman said in a tone that it was okay to use any means necessary.

“What is the Samjung Group focusing on these days?”

“Samsung Group is focusing on developing new mobile phone technologies, and what is important is that Taean Telecom, a subsidiary of Samsung Group, is making moves that are frighteningly great.”

“I don’t know about anything else, but the stock price has risen to a scary level.”

“Yes, the stock price continues to rise after the 1/10 stock split.”

“What Taean Telecom is aiming for is the privatization of its mobile communications division.”

“Yes, Taean Telecom’s stock price is skyrocketing day after day due to that anticipation.”

“Chief Secretary.”

“Yes, sir.”

“Connect me to the electronic president.”

The GL Group Chairman said with a determined expression.

“Yes, sir.”

After a while, the chief secretary handed the phone to the GL Group chairman.

“grow.”

-Yes, Father. I am now preparing to counterattack.

“If you’ve been beaten twice, you should win once.” – Yes, Dad.

“Meet the Chairman of Jinkyung Group.”

-yes?

“Even though it is a subsidiary of Samjung Group, if Taean Telecom is ultimately selected as the privatization operator, it will be a victory for Samjung Group. So, I will meet the chairman of Jinkyung Group and propose a joint venture. Jinkyung Group will also think that it is advantageous to join hands with a mobile phone manufacturing company, and in the current situation, Taean Telecom, no, Samjung Group, cannot help but be in check. Now, it is not business, it is revenge. Revenge!”

-I’ll keep that in mind, Dad.

“If we only increase new businesses, we will never be able to beat Samsung Electronics. Do you understand?”

-Yes, father.

“Let’s break up.”

Stop!

After the GL Group chairman ended the call, his face crumpled again.

‘If you keep losing, losing becomes a habit.’

In the mind of the GL Group Chairman, the determination that the GL Electronics President should succeed the group as the eldest son was gradually diminishing.

* * *

The study of the Samjung Group Chairman’s residence.

“Should Taean Electronics do it? Or should we just let Samjung Electronics do it?”

My grandfather is staring at me intently.

“So you’re saying you won’t shy away from the land business?”

“Yes, the secondary battery business is a business that must be integrated with the electronics business. All wired electronic devices will be converted to wireless, so the electronics business division is absolutely necessary. And we must start the secondary battery business and spur technological development.”

“Development of secondary battery technology?”

“Yes, in the end, the core of secondary batteries is electric vehicles. In my view, GL Electronics is now clearly behind in the mobile phone business, so I think they will look for new businesses.”

“You think that’s the secondary battery business.”

“Even if that is not the case, I think we should invest in the secondary battery business.”

“If Samjung Electronics doesn’t do it, Taean Electronics will.”

“Haha, Jisung, you’re talking as if you’re willing to give in.”

“Since Samsung Electronics has not yet entered the semiconductor business, if it is to grow into a world-class electronics company, it needs a new business that surpasses semiconductors.”

“That’s the second battery.”

“Yes, because the development of automobile batteries, which are secondary batteries, is important for electric vehicle production. Depending on the situation, the secondary battery division may be transformed into an electric vehicle division.”

My grandfather nodded at my words.

“Hama from Samjung Electronics.”

“Yes, Grandpa, then from now on, Taean Electronics will do the semiconductor business.”

“Why do you say that?”

“Fair distribution is important.”

First, I provided the idea of ​​a secondary battery business to my father’s company, Samjung Electronics.

“Taean Electronics dominates semiconductors?”

“I think the opportunity will come someday.”

“Okay, I understand. But Ji-sung, it’s almost April. On April 17, the public bidding for the privatization of the Korea Telecom Mobile Communications Division will be held.”

“I know that too.”

“Are you sure?”

“Grandpa, I never fight a fight I won’t win.”

“Yeah, I like you too. By the way, are you going to sleep?”

“I need to shake up the Jinkyung Group starting tomorrow, so I’m going to the house where Pacific Investment Corporation is.”

“Are you going to shake up the Jinkyung Group starting tomorrow?”

“Yes.” “How?”

“I’m planning to short sell the core affiliates of the Jinkyung Group. As you know, Pacific Investment Corporation is a Korean corporation, but it also has an American corporation. In fact, if you look closely, Pacific Investment Corporation, which is a Korean corporation, is not the headquarters but a branch.”

“Can short selling shake up the Jinkyung Group?”