He is Already a Tycoon at a Young Age! - Chapter 66



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Episode 66

Episode 66

The office of Pacific Investment Corporation Jisung in Yeouido.

“The civil service exam is coming up soon. Shouldn’t I read the book at least once?”

My great-uncle, the president of Taean Electronics, came to see me.

“I saw it once a few days ago.”

“Jisung, even monkeys fall from trees sometimes.”

“You don’t have to worry, uncle.”

“Yes, there is no one in Korea who is more genius than me. In fact, the reason I came today is because of the sales project being carried out by the CEO of Young Industrial.”

The two are brothers.

‘Yes. Emotionally.’

It would be difficult to accept that the two aircraft carriers acquired from the South Korean company Young Industrial are being sold back to the Chinese Communist Navy.

So, it seems that Uncle Park Hyuk, the CEO of Young Business, consulted with his great-uncle.

“Are you concerned about the resale of the aircraft carrier?”

“Isn’t that inevitable? If the Chinese Communist Party buys back the two aircraft carriers that Young Industrial acquired as scrap metal, they will be repaired and become aircraft carriers for the Chinese Navy. I don’t think that will be a good thing for South Korea. This is my opinion, and the opinion of Young Industrial’s CEO as well.”

“I also think that we shouldn’t sell to China for emotional reasons.”

“But I told you to sell it for a billion dollars.”

“We have to sell it because we can’t keep it. And we can’t use it either. South Korea’s defense budget is not yet enough to operate an aircraft carrier.”

“You are right, but I think we could make several times more profit than we paid for it by just dismantling it into scrap metal.”

“It’s a billion dollars. If I get a billion dollars now, in ten years it might not be a billion dollars, it might be more than a trillion dollars.”

“Over $100 billion?”

“Yes, most of my capital will be invested in the privatization of telecommunications companies. So, new investment funds are absolutely necessary. And there are three companies that I will take over from the Jinkyung Group.”

“You want to get your hands on the company that short-sold your stock?”

“Yes, that’s right. So short selling will be recorded as my first investment failure.” “Come to think of it, it’s already up 20% from the short selling standard.”

I short sold 180 billion won. So, if I calculate it based on the short selling reference date, I will suffer a loss of 36 billion won.

“Manager Lee Seo-jin.”

“Yes, sir.”

“What do I gain if I lose 36 billion won through short selling?”

“It’s a 32% stake in three companies. Now, Jin Kyung Group will be in chaos. From what I’ve found out, Executive Director Lee Jin-ho has figured out the real purpose of the short selling and reported it to the Chairman of Jin Kyung Group.”

“It seems that Chairman Jin Kyung Group ignored Executive Director Lee Jin-ho’s report.”

“I don’t think it was ignored. I think they thought that if they could just secure a telecommunications company, they could recover everything. In fact, it seems that they judged that it would be difficult to do both because it would require a significant investment of funds to defend the falling stock price and prepare for a hostile takeover.”

“That’s why.”

Due to the misjudgment of the chairman of Jin Kyung Group, I ended up owning 32% of the shares of the three core affiliates of Jin Kyung Group.

“You announced it, right?”

“Yes, the director announced that he would secure 20% of the 71% stake in Taean Telecom through an on-market sale to secure funds for the privatization of the telecommunications company.”

Of course, even if there is a clear justification, if Taean Telecom shares are sold on the market, the stock price will fall.

“How much can I get if I sell my 20% stake?”

“With Taean Telecom’s stock price skyrocketing, 1 trillion won will be secured.”

What’s surprising is that Taean Telecom’s stock price is now higher than that of Samjung Electronics or Daehyun Automobile. And its market capitalization is also high.

This is a stock that has literally skyrocketed.

“Then it is fine. Now I have to directly request a special shareholders’ meeting from the Chairman of Jin Kyung Group.”

“Wouldn’t it be okay if you just notified us?”

“There is no need to hold an extraordinary general meeting of shareholders. I just need to secure what I want.”

“Jisung, what do you want?”

My great-uncle, the president of Taean Electronics, asked me.

“Of course, along with the abandonment of the privatization of the telecommunications company, it is the management rights of Jinkyung Energy.”

“Should I give up on both?”

“Uncle, the best quote from Sun Tzu, the author of The Art of War, is that war is not fought to win, but to prove victory. I have already won.”

I own 32% of the shares in each of the three core affiliates of the Jinkyung Group.

“You already won?”

“Yes, you will know you lost when you see the announcement that I am selling my 20% stake in Taean Telecom.”

Through this war, I intend to demand three things from Chairman Jin Kyung Group.

“I plan to meet the Chairman of Jinkyung Group.”

“You want to meet up?”

“Yes, I would like to ask for three things.”

I saw Manager Lee Seo-jin.

“Manager Lee Seo-jin.”

“Yes, sir.”

“Contact the Jinkyung Group secretary’s office. Tell them that the largest shareholder of Pacific Investment Corporation wants to meet with the Jinkyung Group chairman. Tell them that I will give you one last chance to save the group.”

“Yes, I understand.”

* * *

Jinkyung Group Chairman’s Office.

“Mr. Chairman, the fact that the stock prices of the three companies have risen by 20% is proof that Pacific Investment Corporation has acquired more than 20% of the shares of the three companies.”

“I know, I know.”

The chairman of Jin Kyung Group was just making faces.

“If this continues, we could lose all three companies.”

“There is no other way now.”

“That’s true. But if you look for it, you can find a way.” “What way?”

“What Taean Communications wants is to take over the mobile communications division of Korea Telecom. If you meet the chairman in person and negotiate, we may be able to find a way.”

“Are you telling me to give up on entering the telecommunications business again?”

The chairman of Jin Kyung Group shouted.

At that moment, the door outside tried to open and then stopped.

But the door opened again and the chief secretary came in cautiously.

“what’s the matter?”

“The largest shareholder of Pacific Investment Corporation has contacted me and wants to meet with the chairman.”

At the words of the Chief Secretary of the Jin Kyung Group Chairman’s Office, Executive Director Lee Jin-ho frowned and showed a look in his eyes that said what had to come had finally come.

“The largest shareholder?”

“Yes, that’s right. If we refuse the meeting, I will call for an emergency shareholders’ meeting as the largest shareholder of the three companies with a 32% stake.”

“32%?”

The chairman of Jin Kyung Group was terrified.

Executive Director Lee Jin-ho couldn’t help but be surprised.

“Yes, that’s right. And Taean Communications just announced an emergency.”

“Why Taean Communications again?”

“It is said that the largest shareholder of Taean Telecom will sell 20% of its shares through an on-exchange sale and use the funds secured from the sale to acquire the mobile communications division of Korea Telecom.”

“Executive Director Lee Jin-ho.”

“Yes, Chairman, the largest shareholder of Taean Telecom is the largest shareholder of Pacific Investment Corporation. And according to the publicly disclosed stock register, the largest shareholder of Taean Telecom owns 71% of Taean Telecom’s shares. Even if a 20% stake is sold on the stock exchange, there will be no problem in protecting management rights.”

“Damn, why are you being so bold?”

“Mr. Chairman, Taean Telecom’s stock price has been skyrocketing day after day, and its market capitalization has surpassed 5 trillion won.” “That’s a bubble, a bubble!”

“Yes, it is a bubble. But it is definitely a very solid bubble. If you have 20% of 5 trillion, you can secure 1 trillion. I think there is no chance of success in privatizing the telecommunications company. So you should meet the largest shareholder of Pacific Investment Corporation.”

“Hmm.”

“You could lose everything. Depending on the situation, the whole group could be divided.”

“Okay, I got it, when do you want to meet?”

“They say they have already left.”

“You left without me even accepting?”

Executive Director Lee Jin-ho could not hide his surprise at the fact that the largest shareholder of Pacific Investment Corporation had already guaranteed victory.

‘He’s so young, he’s amazing.’

As I thought this to myself, I had the feeling that it wasn’t the young Ji-seong who planned all this, but rather the chairman of Samjeong Group or the president of Taean Electronics.

“Yes, they said they will arrive soon.”

“What the hell!”

In fact, it happened in an instant. And it was probably something no one would have thought of.

* * *

The President’s Office in Beijing, China.

The Commander-in-Chief of the Chinese People’s Liberation Army Navy stood before the Chinese President.

“You asked for a billion dollars?”

“Yes, that’s right. They said they would resell it for $1 billion.”

“How much did that company called Young Industrial buy from the Russian Navy?”

“It has been confirmed that two aircraft carriers and 42 Russian warships were purchased for $7 million.”

“Ha, you’re going to leave 100 times more?”

“Yes, that is correct, Your Excellency, but Your Excellency.”

“What?”

“Anomalous signs detected at Bangladesh shipbreaking company.”

“Abnormal signs?”

“Yes, that’s right. It seems that they are researching the aircraft carrier without dismantling it. And after I received that information, I investigated the Koreans who entered Bangladesh, and surprisingly, they were employees of Samjung Heavy Industries.”

“Why is that?”

“Samjung Heavy Industries is also involved in the shipbuilding business. It is securing shipbuilding technology through aircraft carriers.”

“okay?”

“Yes, that’s right. The Navy currently needs aircraft carriers to achieve maritime dominance.”

“Isn’t a billion dollars a lot of money that can be dried?”

“We don’t have the technology to build one ourselves, and the cost of building a new aircraft carrier, including research and development costs, would be over $10 billion. From that perspective, $1 billion is cheap.”

“Over 10 billion dollars?”

“Yes, it was worth $10 billion when we had the technology to build it, so if we acquire the technology and start building it, it could cost $20 billion more. And it’s also questionable when it will be completed.”

The cost of building the Gerald R. Ford-class aircraft carrier, which will be commissioned about ten years later, is estimated at $14 billion, and the cost of operating the program is estimated at $40 billion. Of course, this is in ten years.

“So it’s difficult to develop it on its own right now?”

“Yes, that’s right. Even if we acquire the two aircraft carriers sold from Russia, it will take three to four years to repair them and recommission them. And as time goes by, Samjung Heavy Industries, a South Korean company, will acquire the technology to build aircraft carriers. And the technology acquired in this way will be used when the South Korean Navy needs aircraft carriers.”

“Then I must definitely secure it.”

“Yes, it shouldn’t be any later.”

“Okay, tell the front-runner to get a $2 billion loan from the Chinese Communist Bank and buy that fucking Young Industrial Company for $1 billion, and then have them fix it up for re-employment for another $1 billion.”

“Yes, I understand.”

This will give Ji Sung 1 billion dollars. And Ji Sung has already told the Taean Electronics president that the 1 billion dollars he will secure will be worth more than 100 billion dollars in 10 years.

“Yes, the South Korean Navy must secure aircraft carrier construction technology.”

The Chinese president cannot help but be wary of South Korea’s strengthening of naval power, as the Chinese Communist Party seeks to claim many areas of the sea as its own territorial waters in the future.

* * *