Omniscient Investment Point - Chapter 245



Only Noblemtl

245. Stand Up Korea – 6

(1)

There have been far more negative articles about sole fashion than our company’s report.

No matter how you look at it, the current stock price is excessive, and the Korean stock market is full of theme stocks, he wrote.

Meanwhile, the formation of the Shareholders’ Rights Protection Committee finally made news······.

『The first chairman of the Shareholders’ Rights Protection Committee is Hyun Ki-hyuk?』

A completely unexpected name graced the headlines of the media.

There were quite a few people who denied this.

Could this be the reporters’ excitement?

Hyun Ki-hyuk has such a strong image of being a recluse, how could that be?

But then follow-up reports emerged showing that this thinking was wrong.

『Hyun Ki-hyuk, accepting the invitation to the Sovereign Council!』

I was surprised too.

Whether it’s the excitement of reporters or the image of seclusion······.

‘Is this guy a little bored?’

Since I am a busy person, I did not think it was necessary to spend time on the Shareholders’ Rights Protection Committee.

I quickly contacted them and they asked me to come back again.

And a little later, in the H2K president’s office······.

“You were wondering? That I was given the presidency.”

“Yes, I don’t think you have to go that far. Well, I thought you were busy, so you probably wouldn’t have the time to take care of shareholder rights.”

“I’m busy. And I don’t necessarily need to step forward. There’s the government, there are individual investors, and there are many people who know the law well. But if I step forward, it’ll seem like something symbolic. Don’t you think?”

“Of course. Suddenly, the talk of the town is turning to the Shareholders’ Rights Protection Committee.”

Hyun Ki-hyuk smiled and nodded.

“Yes, that’s right. The topic has shifted to this. Maybe that’s why the stock market is skyrocketing today.”

What he said was true.

These days, since the new government came into power, there has been a lot of talk about the stock market rising too much.

This was evidence that individuals trusted the government’s will to support stock prices, while institutions were selling enthusiastically because they thought this was the right time.

In particular, the pension fund was no joke.

They were selling at almost record levels, drawing criticism from individual investors.

Foreigners are in neutral gear.

I think the intention was to look into it further, but today, after hearing Hyun Ki-hyuk’s acceptance of the position as chairman of the Shareholders’ Rights Protection Committee, I changed my direction.

Suddenly, I went into the afternoon market and was buying a lot of stuff.

“I have an ambition, as do you. It is to make the domestic capital market as big as the U.S. market.”

“yes······.”

“Do you think it’s impossible?”

“Well, maybe it will happen someday, but it won’t be easy in the short term.”

“Then, before I die?”

“······.”

“I still don’t think it’s easy.”

“I’m sorry for being honest. Haha······.”

That our country is beating the American capital market.

It’s close to nonsense.

That’s no surprise, as a recent report found that more than half of the world’s market capitalization was in the U.S.

On the other hand, our country is only at 1.8%.

It did not even catch up to half of the capital markets of second-place China or third-place Japan, let alone Hong Kong, which ranked quite a bit lower.

“Well, I understand. It may sound ridiculous. But I’m not the only one trying. There are great investors like you in our country.”

“How can a capital market be robust if it relies on one or two investors? In the end, it’s a system.”

“That’s right. In order to properly establish that system, I accepted the position of Chairman of the Shareholders’ Rights Protection Committee.”

“ah······.”

I let out a gasp.

Clearly, this gentleman’s ambition is closer to a daydream.

Does that mean you give up on that dream?

I felt like doing my best and burning with passion was what I needed to do now.

“I guess I was a little short-sighted.”

“Yeah. I was a little disappointed earlier. I thought you, who are much younger than me, would be the most supportive. But you were just too T-ish.”

“haha······.”

Actually, there was a reason.

Realistically, I keep being conscious of D-2,701 in my left eye.

Even though I keep making resolutions to live longer and prolong my life, the moment I see that D-day······.

‘It’s hard to make long-term plans.’

With only about 7.4 years to live, how could anyone hope to surpass the US capital markets before they die like this gentleman?

Hyun Ki-hyuk continued talking without even knowing what I was thinking.

“Why don’t you know that it’s unrealistic to think that I, too, can stand shoulder to shoulder with the capital markets of the United States? But I think there’s a big difference between giving up knowing it won’t work and trying it once. That’s why I’m trying to lay the foundation so that it can be achieved during your time, even if it won’t be easy during my time. After all, you’ll live more than 20 years longer than me.”

Hearing that, a bitter smile escaped my lips without me knowing.

But he quickly nodded so that the meaning of the laughter faded.

“I learned something great again today.”

“Oh, I guess I can teach you too.”

“Of course. I didn’t say it, but I respect you, Chairman.”

“Respect? Really? Hahaha.”

Hyun Ki-hyuk burst into hearty laughter, feeling good.

What he said while doing so.

“I really admire you. It was like that before I knew you, and it’s the same after I knew you. What should I say? Whatever you imagine, you achieve more than that. I think that’s what defines you as an investor.”

Praise coming from someone I respect, still makes me feel infinitely humble.

“No matter how many times I step on a rat like a cow backing down, I can’t compare to you, Chairman.”

“Of course, it’s hard to compare it to what I’ve accomplished so far. But I couldn’t do that when I was your age.”

“Is that so?”

“Yes. So please. This time, the Shareholder Rights Protection Committee, you and I, let’s do something big together. Okay?”

“all right.”

Honestly, I don’t know much about it.

Why don’t you just do something normal and sensible?

(2)

Hyun Ki-hyuk scheduled the first meeting of the Shareholders’ Rights Protection Committee for the next day.

Maybe that’s why he wanted to see me in advance.

But when I actually went out, I saw a familiar face again.

“This is really solid. Chairman Hyun and CEO Jang? Really, individual investors’ expectations are higher than ever.”

Ra Seok-myeong, that was him.

In addition to that, there were several representatives of individual investors, and when people representing institutions other than me and Hyun Ki-hyuk took their seats······.

“uh?”

“It’s Chief Song!”

“and······.”

Song Jae-hwan, the senior economic secretary of the Office of the President, appeared.

This was also unexpected.

Originally, the Shareholders’ Rights Protection Committee was intended to be comprised of government agencies, institutions, and individual investors, but it was not expected that someone as high-ranking as Song Jae-hwan would emerge.

So these words were engraved in the minds of those sitting there.

– The government is sincere.

Me too.

Although it may be difficult to achieve parity with the American capital market as Hyun Ki-hyeok said, it seemed possible to achieve great results in a short period of time.

With this in mind, Hyun Ki-hyuk, chairman of the Shareholders’ Rights Protection Committee, organized the group.

“Well, now everyone is here. I’m glad that everyone has taken the time out of their busy schedule to attend.”

It was an interesting way of speaking.

Usually, the first thing you would say is a polite greeting of thanks for coming, but Hyun Ki-hyuk was very self-conscious, so he was expressing his own feelings.

“But before we get into the real agenda, I think we need to start with the organization. Since I am sitting in the heavy position of chairman, I think the vice chairman should be someone who represents each market participant. So if I were to recommend right away…, the government strongly recommends Song Jae-hwan, the chief economic secretary, the institutions strongly recommend JTS Partners CEO Jang Su-myeong, and the individual investor strongly recommends Chairman Ra Seok-myeong. What do you think?”

“great!”

“It’s okay!”

“Wow, this is Avengers level? Hahaha.”

The vice president’s position, where he had not said a word the day before.

I was dumbfounded for a moment, not knowing what expression to make.

But I didn’t really want to refuse.

So, as soon as Hyun Ki-hyuk asked our opinion,

“Then, there are only three people left to take it. Secretary Song, Representative Jang, and Chairman Ra. Will you take the position of Vice Chairman?”

“haha······.”

“yes!”

“I will do that!”

Na and Ra Seok-myeong readily accepted it, while Song Jae-hwan smiled awkwardly.

Then, people’s eyes were fixed on him······.

‘What? You’re saying you’re not going to accept it?’

‘Since you’re here, you might as well treat yourself.’

‘Show the government’s will strongly!’

How do I overcome this pressure?

Song Jae-hwan nods with a helpless expression.

“Please lead the current president well. I will also do my best to support you.”

“and!”

“Hey~”

“This combination really works······.”

The word ‘quick’ seemed to apply in this situation.

Hyun Ki-hyuk didn’t hesitate.

After the appointment of the vice president, the working-level staff was immediately organized and a new agenda was finally put forward.

“The Shareholders’ Rights Protection Committee literally protects shareholders’ rights. However, protection in words is just a formality. Therefore, I want to revise the Commercial Act, which will inevitably become a major principle of shareholder protection. According to Article 382-3 of the current Commercial Act, directors must faithfully perform their duties for the company in accordance with the provisions of laws and regulations and the Articles of Incorporation. That’s what it says. Is that right?”

“Yes, that’s right!”

“Yes!”

Among those present today, the voices of individual investors were the loudest.

Meanwhile, some institutional investors are starting to show signs of bewilderment.

That would be the case, as some organizations represented conglomerates.

‘It’s suddenly hot?’

The revision of the Commercial Act that Hyun Ki-hyeok just mentioned was a long-standing wish of shareholders.

Why?

This is because listed companies in Korea are actually being criticized for only faithfully performing their duties for the sake of the company.

That’s why I keep perking up my ears to Hyun Ki-hyuk’s continued words.

“In order to revise the Commercial Act, you only need to insert one word. Shareholder! In other words, directors must faithfully perform their duties for the company and ‘shareholders’ in accordance with the provisions of the laws and the Articles of Incorporation. How about that?”

“great!”

“You must do so!”

“Let’s announce it right away!”

“Let’s go!”

The voices of individual investors have grown louder.

Meanwhile, those from the government, including Song Jae-hwan, smiled bitterly, and institutional investors representing conglomerates narrowed their eyes······.

‘It’s over.’

The trend has already been set.

Since it was an atmosphere where no one could object, in the end, after the meeting that day ended, Hyun Ki-hyuk read a statement in front of reporters.

“Therefore, the Shareholders’ Rights Protection Committee calls for a revision of the Commercial Act. Directors must faithfully perform their duties for the company and shareholders in accordance with the provisions of laws and the Articles of Incorporation!”

Stand Up Korea, this time it looks like it’s going to be a real hit.