I Am the Third-Generation Heir of a Conglomerate - Chapter 415



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415.

Prelude to a turbulent time (5) Bin Salman returned to Saudi Arabia after completing his three-day schedule.

Immediately after he returned, a vice president brought some very good news.

“The diabetes treatment drug has been officially approved by the FDA!”

“I think Sentryon’s stock price will be positively affected.”

“It went up more than 10% in the morning alone.

This is even more encouraging because it came at a time when it was not yet known whether antidiabetic drugs were effective in treating obesity.”

Eugovin, a diabetes treatment drug.

Although it is currently known to be effective only for diabetes.

As soon as it was officially released, greater attention would be paid to its side effect of weight loss.

“Even though it has FDA approval, we will ultimately need the help of the medical industry to increase sales of Yugovin.”

“David already pours a huge amount of lobbying money into the medical industry.

They say they are lobbying both hospitals and pharmacies.”

America isn’t called a lobbyist’s paradise for nothing.

Especially in the case of pharmaceuticals, the United States was a market where it was difficult to survive without lobbying.

“Please provide as much lobbying funding as needed.”

“We already provided $10 billion in lobbying funds through fintech banks.

“It’s similar to the cost of the US presidential election.”

“With $10 billion, I guess you plan to lobby not only the US but also other countries.”

“They say they are going to lobby starting in the United States and extending all over Europe.

“We are starting from the US because we have not yet received approval from the European Union, but we plan to expand our lobbying efforts to Europe soon as we can launch in Europe soon.”

Few countries have ever rejected FDA-approved drugs.

That’s why every pharmaceutical company is risking their life for FDA approval.

The day when it can be sold to all countries around the world, including Europe, is approaching.

“Tell Hollywood to put in effort too.

“Aren’t celebrities the people who are most sensitive about their weight?”

“If a famous actor promotes something on social media, it will definitely have a huge ripple effect.”

“Ask them to contact everyone from actors to famous influencers.

If you are short on manpower, mobilize Taewoo Group’s public relations team.”

“It is said that Sentryon also dispatched a large public relations team to the United States.

“We will also be sending the Taewoo Group public relations team to the United States soon.”

It was a Yugovin that sales would increase on their own as time passed.

However, through aggressive promotion, we were able to shorten the time, which was also important to the current Taewoo Group.

“We can recover the lost sales from China through Sentryon.”

“If there is a huge demand as the chairman expects, recovery is fully possible.

“It is not only possible to recover, but the total sales of Taewoo Group may increase further.”

“Has the mood in China gotten worse?”

Since the THAAD deployment was made official, China has continued to protest.

As time passed, the relationship between Korea and China worsened.

“It’s not a boycott yet, but sales of Korean products in China have reportedly stagnated.”

“Isn’t it amazing?

If you are going to boycott, you should be boycotting American products, not Korean products, but Apple’s sales are actually increasing significantly.”

“It seems like a reaction that comes from confidence that although we cannot go to all-out war with the United States, we can easily deal with someone like South Korea.”

Big countries and small countries.

It was an official statement from China’s top brass.

It was an absurd idea that a small country like Korea should be humble before China, but there were actually quite a few people who thought that way.

“You will regret thinking that Korea is an easy opponent.

And if you touch Taewoo Group directly, you will regret it greatly.”

“So far, we have not directly attacked the Taewoo Group.

Rather, I feel like Taewoo Group is protecting us, unlike other large Korean companies.”

Of course it should be like that.

How much money has been distributed to China’s upper echelons so far?

“Right now, the atmosphere will be a lot different starting next year.”

“So I put all my money into shorting China.

Wouldn’t it be better for us to strike first before we get hit in the back of the head?”

“It’s better to hit than to get hit.

Still, we need to make sure that they find out we’ve been hit in the back of the head as late as possible.

“It’s even better if we never know.”

“Even though we had our suspicions, we took steps to prevent anyone from finding out that we were directly initiating the short selling.”

Taewoo Securities had nothing to do with Chinese short selling.

They simply invested their money in a fintech bank, and coincidentally, the fintech bank was participating in Chinese short selling.

“However, the Chinese stock market is not responding as much as expected.”

“We have blocked it with various policies, but the breakwater that we have put in place as a temporary measure will collapse in no time.”

“Financial companies in the financial tower are also very worried.

“This is a situation where all financial institutions have put all their available funds into short selling in China.”

“If there is a financial company that you want to get out of, please tell them to get out at any time.”

“Is there such a financial company?

We have experienced several times what happens when you go against our grain, so I don’t think there will be any financial company that will ever be the first to leave.”

The financial tower was a kind of religion.

Foreign financial companies were fanatics who followed the leader called Taewoo Securities.

How could a fanatic dare to disobey the orders of his leader?

They were brainwashed by their enormous success.

Even if I failed once or twice, I wouldn’t leave.

“You have become a good hunting dog.

“A good, obedient hunting dog needs to be fed well.”

“Everyone is just opening their mouths.

If you look around the financial tower, you will see that most of them are just staring blankly at the Chinese stock market.

“No one is pressing the buy or sell button.”

“Just tell him to hold on a little longer.

“The Chinese stock market will definitely move sooner or later.”

Blessed are the ones who endure.

If we just waited patiently for the last month of 2015, tremendous achievements awaited us.

“Everyone is being patient, but bad news keeps coming in.

“It is said that the circuit breaker system will be implemented in China starting next year.”

“Circuit breakers are ultimately just devices to slow down the decline in the stock market.

China knows it too.

“That means the Chinese stock market won’t be good next year either.”

Circuit breaker.

In Korean, it meant circuit breaker.

It was a system that prohibited stock trading for a certain period of time to prevent the stock market from crashing.

But the circuit breaker lasted only 30 minutes.

People who were driven mad couldn’t come to their senses in just 30 minutes.

*** The last day of 2015.

All the employees left work, and only the executives gathered together to hold a small meeting.

“We will hold the 4th quarter 2015 executive meeting.”

As always, we started reporting from affiliates with good performance.

Taewoo Electronics, Taewoo Automobile, Taewoo Semiconductor, and even Taewoo Construction this year have all performed very well.

“Taewoo Construction recorded its best performance this quarter.

In the case of new apartments, the sales rate was 100%, and all of the apartments on hand were sold out.

And next year, the number of apartments scheduled for completion will exceed 10,000.”

“There isn’t as much volume as I thought.”

“We cannot handle too much work at once because we have to follow regulations more strictly than other construction companies.”

In the case of apartment construction, local construction companies carry out most of the construction.

Taewoo Construction mainly participated in or supervised major construction projects.

Unlike other construction companies, they were known for their thorough inspection from start to finish.

So, there was even talk among local construction companies that they did not want to work with Taewoo Construction if possible.

But what can we do?

Aside from Taewoo Construction, there is no other company that has aggressively pursued apartment construction during the recession.

So, local construction companies had no choice but to work with Taewoo Construction in a desperate manner and proceed with construction while complying with strict regulations and rules.

“Make sure to continue to enforce strict regulations.

And make sure to thoroughly inspect the apartment.

“Not a single rebar should be missing.”

“There is absolutely no such thing as missing.

Rather, the design standards are applied more excessively than those of other construction companies, which results in high construction costs and low net profits.”

Advances in science and technology have also had a huge impact on construction companies.

The precise and detailed design method allowed construction to be done with just the right amount of materials.

Thanks to this, construction companies were able to reduce construction costs.

Taewoo Construction still adheres to conservative design methods, which results in high construction costs.

“It may feel like a loss right now, but as trust builds, people will come looking for apartments even if they are offered at a higher selling price than other construction companies.”

“We will do our best to ensure that Taewoo Construction does not become a burden to Taewoo Group!”

After Taewoo Construction, it was Taewoo Semiconductor’s turn.

There was hardly anything worth pointing out.

The problem was that the operating rate of the ultra-large semiconductor complex was not yet at 100%.

That was a problem that time would solve, and there was no need to support it as it was still generating huge sales.

But in the case of Taewoo Motors, it was a little different.

On the surface it seemed like there was no big problem, but in reality there was.

“Sales of internal combustion engine vehicles and electric vehicles continue to increase.

“In particular, internal combustion engine vehicles are continuing to increase their market share in North America and Europe, and are also recording high sales in Southeast Asia.”

“Sales of electric vehicles are slower than expected.”

“Unlike internal combustion engines, electric vehicles require infrastructure.

That’s why we can’t sell in Southeast Asia, where there’s no infrastructure.

And even in areas where there is infrastructure, there is still no active purchasing.”

It was definitely different from a smartphone.

As with all products, early adopters are the first to buy the product.

And after seeing their reviews, subsequent customers would decide to purchase the product.

In the case of smartphones, the barrier to entry was low.

In the case of electric vehicles, they are very expensive and do not have as many amazing functions as smartphones, so people are still reluctant to buy them.

“It seems that electric vehicles are not yet recognized as an innovative product.

“Is autonomous driving here yet?”

“Let me explain that part.

Remote control, the step before autonomous driving, has become fully possible.

“First, we would like to apply remote control and then move on to the autonomous driving stage.”

These were the remarks by Minjeong Cheon, Director of the Artificial Intelligence Center.

No one disliked her for attending board meetings at such a young age.

Most of the affiliates were receiving help from the AI ​​Center, and everyone recognized Center Director Cheon Min-jeong’s abilities.

“So you’re saying that we need to start with remote control?”

“Only after safety has been proven through remote control can we move on to autonomous driving.

However, remote control requires many conditions, and it is difficult to apply it to private driver vehicles.”

Is it because it’s a board meeting?

Center Director Cheon Min-jeong spoke in a very polite tone, unlike usual, and so I felt a bit of a distance.

“That problem could be solved by working with taxi companies or rental car companies.”

“We plan to start remote control collaboration with rental car companies starting in the first quarter of next year.

And we have plans to apply autonomous driving in the second half of the year.”

Among the companies managed by Captain Kang was a rental car company.

The remote control system could be implemented starting tomorrow.

Not only that, but they also owned a freight company that operated across the United States, so the subjects for their experiments were endless.