He is Already a Tycoon at a Young Age! - Chapter 90
Only Noblemtl
#090
May 7, 1997, GL Group Vice Chairman’s Office.
“It is said that the Blue House has ordered an intensive tax investigation into Pacific Investment Corporation and Taean Group.”
“suddenly?”
“It seems there was a conflict over the sale of Seungbo Steel.”
“Ha, he’s quite the kid.”
GL Group Vice Chairman Koo Seong-mo spoke to his chief of staff, recalling Ji-seong.
“However, it is said that the tax investigation ordered by the Blue House is conducted by the chief economic secretary reporting to the president.”
GL Group also had a collaborator in the Blue House.
“The chief economic advisor is an idiot.”
“yes?”
“The chairman of Samjung Group is not the kind of person who would ever let someone mess with his people. That’s why you ended up like that. But since the chairman of Samjung Group’s most beloved grandson was messed with by someone like the chief economic advisor, that idiot is finished.”
“ah!”
“We’re not the only ones collecting information about key figures in politics.”
“That’s true.”
“Samjung Group will do more than us, not less. Anyway, the timing is perfect.”
“yes?”
“Will this government last forever?”
“In fact, they say the upcoming presidential election will be a close race.”
“Starting with an equal fight, the opposition party will take power.”
“They say the opinion polls are in favor of the ruling party.”
“Chief Secretary.”
“Yes, Vice Chairman, public opinion is easily manipulated and the people of the Republic of Korea are easily fooled by what others say.”
“Vice Chairman, are you from the opposition party then?”
“That kid probably thought he was from the opposition party and did it. He’s really smart. By the way, what’s the stock price index these days?”
“It has currently fallen below 600 points. Quite a few companies and groups are going bankrupt, and yesterday, Hanwha Group was finally declared bankrupt.”
“Hannang Group also collapsed.”
“Yes, and they say that Midop Department Store is also in danger. They also say that Korea Securities is in a precarious situation.”
“Midop Department Store will be targeted by Samjeong Department Store.”
“That is very likely.”
“It looks like Daehyun Group and Samjung Group will have another big fight over Midop Department Store. Along with that, I think that little brat and I will have to fight over Korea Securities again.”
“But Vice President.”
“why?”
“If this continues, the Korea Composite Stock Price Index may fall below 400 points.”
“South Korea may face an economic crisis, but the country will not go bankrupt. It is not that weak.”
GL Group Vice Chairman Koo Seong-mo is currently investing in the derivative products related to the Korea Composite Stock Price Index that Ji-sung invested in. In that situation, he is still relaxed.
* * *
Samjeong Department Store President’s Office.
“What’s going on with our Ji-seong?”
Before leaving for Hong Kong, I visited my second aunt, the president of Samjeong Department Store.
“I came to stop what my second aunt was about to do.”
“Do you know what I’m trying to do?”
“Yes, I know. I saw on the news yesterday that Midop Department Store went bankrupt.”
“That’s right, currently Samjeong Department Store is being pushed out by Daehyun Department Store in every way.”
“So you’re thinking of taking it over?”
“Of course. Since Ji-sung is helping us with the Haengbok Mart business, we plan to take over Midop Department Store and compete with Daehyun Department Store.”
“Please don’t do that.”
“why?”
“Second aunt, now is not the time to expand, but to strengthen the foundation. If Midop Department Store competes with Daehyun Department Store and wins, then the winner’s curse will begin.”
As my second aunt looked surprised at my words, I explained to her in detail all the reasons why I should not take over Midop Department Store.
“I see. That’s true.”
“And secondly, aunt, the key to the large warehouse mart business is securing real estate and securing an offline distribution network.”
“You explained that to me before, Ji-sung.”
“That’s why we need to focus more on that business. And soon, when South Korea faces a national bankruptcy, most of the real estate will be put up for sale at a low price. That’s when we need to secure more logistics warehouses.”
“For the online distribution era?”
“Yes. Trust me.”
The president of Samjeong Department Store nods his head at my words.
“okay.”
“And my second aunt.”
“why?”
“I’m planning to start a coffee franchise business this time by partnering with Star Coffee in the US.”
“Hohoho, Jisung, there’s no business you don’t try.”
Finally, we signed a contract with Star Coffee and established Star Coffee Korea.
‘The first store was decided on Ewha Womans University.’
The second store will be located in Samjeong Department Store. And for the rest, I plan to proceed with the business as I know it, operating over 1,500 direct stores in Korea.
‘You will faithfully fulfill the role of a flowerpot for me, hahaha!’
As my second aunt said, I will do any business that makes money. I will make the most of the information I have about the future.
‘If you don’t use it.’
Because it is stupid in itself.
“The first store is scheduled to open in front of Ewha Womans University, and I would like to open the second store inside Samjeong Department Store.”
“I will instruct the staff and prepare the best seat for you.”
“Thank you, second aunt.”
“No, I can’t do that to you after all the help you’ve given me.”
“Did your grandfather say he would soon allow the separation of the family line?”
“Yeah, that’s what your grandfather told me, and your father helped a lot too.”
Perhaps next year, another affiliate group will be created within the Samjung Group.
“So, have you decided on a name for the group?”
My second aunt’s wish is about to come true.
“I decided on JC. What do you think?”
“Good.”
“Jisung-ah.”
At that moment, the second aunt’s eyes changed slightly.
“why?”
“Jisung, can I invest in Pacific Investment Finance?”
“You want to become a major shareholder?”
“Yeah, no matter how much I think about it, I think you’ll beat my father, the number one conglomerate in South Korea, and ascend to the throne within 10 years.”
“Second aunt.”
“Will it work?”
“Don’t be greedy. I will be your reliable white knight for the JC Group that your second aunt will establish.”
I smiled as I looked at my second aunt whose expression had changed to a sad one.
* * *
Local Oriental Investment office in Hong Kong.
I initially planned to establish a Hong Kong branch of Pacific Investment Corporation in Hong Kong, but I thought that establishing an independent corporation rather than a branch would be advantageous for advancing into China, so I established an investment corporation called Dongbang Investment Corporation.
“I never dreamed that I would go from being the director of the investment division of Pacific Investment Finance to the CEO of Dongbang Investment Corporation.”
Han Jun-ho, director of the investment division, has become the representative of Dongbang Investment Corporation, a Hong Kong investment corporation.
“Representative.”
“Yes, sir.”
We are both representatives now.
“Hong Kong is a bridgehead for entering China.”
“I know, too.”
“And as I understand and predict, China will have a stock market that is more than a gambling table.”
Han Jun-ho, CEO of Dongbang Investment, nodded at me as if he thought the same thing.
“I think so too.”
“Dongbang Investment Corporation is entering the mainland stock market by acquiring a small local Hong Kong securities firm.”
Pacific Investment Corporation of the United States is enjoying great success by riding the dot-com bubble that is blowing in the United States.
“A securities firm acquisition?”
“Yes.”
“Dongbang Investment Corporation had an investment division and a stock division, and the stock division eventually expanded to become a securities firm.”
“Because we have to enter the Chinese stock market. And that is the field where CEO Han Jun-ho can demonstrate his abilities the best.”
“Are you saying that you will be directly managing the investment division for the time being?”
“I think so. The dot-com boom in the U.S. will also blow in China. China has the domestic consumption power to build its own market. So I plan to invest in Chinese IT-related companies or IT-related startups.”
The ones I’m thinking about right now are Tencent and Alibaba.com.
‘What’s important is how you approach it.’
Next year, Tencent will be officially established. And Tencent’s founder will receive a large investment from South African Media Group, which will own a 35% stake in Tencent, which will become China’s largest company by market capitalization.
‘I came here to take that for myself.’
Alibaba.com will also be established soon.
“Which IT company or field do you plan to invest in?”
“China has a large population.”
“Yes. So the domestic market is certain.”
“The rulers will find this burdensome and will try to control the Chinese people in order to somehow maintain Chinese society and secure their power.”
This is Han Jun-ho, the CEO of Dongbang Investment Corporation, who nodded his head without realizing it at my words.
“That may be true.”
“We plan to develop a facial recognition program that can control all aspects and sell it to the Chinese Communist Party.”
“ah!”
“Of course, there are other areas where we should invest properly. China has 1.2 billion people, so the online world will be more open than the offline world. I plan to find an IT engineer who can develop a proper messenger program.”
“You really think differently from ordinary people.”
“Thank you for the compliment.”
Anyway, I plan to stay in Hong Kong or mainland China for the time being and look for ways to invest in Tencent and Alibaba.com.
* * *
Samjeong Securities CEO’s Office.
“Director Choi.”
The president of Samjung Securities was already aware that the chairman of Samjung Group would hand over Samjung Securities to Ji Sung. In other words, the president of Samjung Securities is Ji Sung’s person.
“Yes, sir.”
“Samjung Securities is an affiliate of Samjung Group, but it will eventually become part of Taean Group. And Taean Group naturally has CEO Ji Sung’s Pacific Investment Finance as its largest shareholder.”
“Yes, I think so too.”
“And CEO Ji Sung ordered that we unconditionally acquire Goryeo Securities, which recently went bankrupt. I reported this to the chairman separately, and he told me to follow CEO Ji Sung’s instructions from now on.”
Ji-seong’s grand goal was to use Samjung Securities, GL Securities, and the now bankrupt Korea Securities to create the largest securities firm in South Korea, and then further grow Taean Securities to create the largest securities firm in Asia.
“Then I guess we should start investigating Korea Securities right away.”
“Yes, Daehyun Securities has already officially announced the acquisition of Korea Securities.”
“In this situation, if Samjung Securities officially announces the acquisition, the value of Korea Securities will rise.”
“Yes. More importantly, the current feud between the Blue House and Pacific Investment Finance is ongoing.”
“I heard that too. And the various corruption cases of the chief economic adviser who encouraged it were revealed through the media.”
The chief economic secretary of the Blue House was immediately dismissed from his position after such corruption facts were revealed to the media. However, the Blue House VIP was informed that the Samjung Group was the one who created this situation, and the relationship between the Blue House and the Samjung Group worsened further.
“So we are at a greater disadvantage than Daehyun Securities.”
“Yes.”
“Still, for you and me, you must acquire Korea Securities unconditionally.”
“It doesn’t seem like it will be easy.”
“CEO Ji-sung gave me full authority over the acquisition, so I decided to take over the business even if it meant hiring all of the executives and employees of Korea Securities.”
“Then I think media play is definitely necessary.”
“Director Choi, take charge of that.”
“Yes, I understand.”
“For the sake of our future, we must never disappoint Representative Ji Sung.”
“I know that very well.”
While South Korea was heading towards national bankruptcy, Ji-seong was racing to become a giant.
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