Omniscient Investment Point - Chapter 257



Only Noblemtl

257. Whip and Carrot – 3

(1)

Who is the most prominent successor to the founders who created the Miracle on the Han River?

“When looking only at business performance, it is an undeniable fact that Park Hee-sun is the best.”

Those that influenced my perspective, and those that didn’t.

Kwak Hyun-woo also made the same judgment as me.

We were now heading to Daehyun Motors headquarters.

“I also studied a bit after what the CEO said last time. First of all, the performance since taking office as chairman is truly unprecedented.”

“okay?”

“No matter what anyone says, isn’t Yoo Sung Electronics the representative company of Korea? However, Daehyun Motors has been outperforming them and has achieved the highest operating profit. Even if it is said to be due to the semiconductor cycle, if you think about Tesla, the destroyer of electric vehicles, I think they are a company that has turned a crisis into an opportunity.”

It seemed like he rated me better than I did.

But I agree.

In fact, Daehyun Motors’ global performance is even more surprising than its domestic performance.

Although the previous presidents settled in the top 10, it was actually due to the rise of China.

Even Park Hee-sun’s father went through great ups and downs in the Chinese market.

Naturally, Daehyun Motors was in crisis, and there was a lot of criticism that it would revert back to being a domestic market company.

The person who overcame that crisis is Park Hee-sun, the current head of Daehyun Motors Group.

Since his time as vice president, he has looked to the future and has not been lazy in investing in eco-friendly vehicles, and has established Daehyun Motors’ luxury brand on a global scale.

As a result, Daewoo Motors has risen to become the world’s third largest automobile company.

“Perhaps in a few years, even a Toyota or a Forkwagen won’t be able to compete with a Daehyun car.”

“Well, I don’t know about that.”

“No. I believe it. Why? Those two companies have been reluctant to convert to electric or hydrogen cars. Meanwhile, Daehyun Motors is on par with Tesla.”

“Have you ever heard the word ‘patriotic’?”

“Representative······.”

When I make fun of him, Kwak Hyun-woo starts to cry.

But in some ways, it wasn’t impossible.

It’s not because the way we look at him is patriotic.

Anyone can see that Park Hee-sun was an excellent manager.

You could tell just by looking at Kwak Hyun-woo, who continued to praise him as if it was unfair.

“Okay, let me explain it again slowly. Chairman Park Hee-sun is the third chairman of the Daehyun Motor Group, right? But unlike other companies, the succession process was very shaky. Why? The founder wanted to pass the group on to the youngest son, not the eldest son. In fact, the eldest son played an incredibly active role as the founder, but······.”

Since the traffic was blocked anyway, it almost felt like I was listening to a rerun, but I didn’t stop Kwak Hyun-woo from reciting the story in order to review it.

“Anyway, although the eldest son became independent and grew the company, Daehyun Group was a place where there were actually two founders. In other words, it was like the founder took over the chairmanship in succession, but naturally, the world could not help but look at Chairman Park Hee-sun, who grew up in a greenhouse without knowing the ways of the world, with suspicion.”

“Was it so?”

“That’s right. Among Korean conglomerates, there are more than a few successors who ruined the achievements of their founders.”

It wasn’t a wrong statement, but it was a pain in the butt to give examples one by one.

I wonder if he feels the same way, so he skipped over it and moved on to the next topic.

“Just look at his appearance. Unlike his two fathers, he is gentle. They say his actual personality is also humble and easygoing.”

“I haven’t even seen it, but I’m a huge fan.”

“Well, you’ll know when you see it today.”

I chuckled.

‘But you’re right.’

Although I didn’t say it out loud, I’ve also heard about Park Hee-sun’s personality.

Of course, it is from Song Jae-hwan who met him in person.

– In Korea, it’s hard to meet a chairman wearing jeans and a T-shirt. But Park Hee-sun, you know. She prefers to wear it comfortably. It’s not that she doesn’t wear suits, but she really wears them at informal events.

– Could it be image making?

– Can you think of any group leaders who have done that kind of image making? Who are there?

– Shh!

– Shh? Oh, that? Hey, you crazy guy. That’s not so much image making as something the media put out there.

At that time, I imitated the humorous ‘shhh’ pose of Yoo Sung Group Chairman Cho Min-yong.

Song Jae-hwan laughed in vain.

And because he rated Park Hee-sun higher than Jo Min-yong, he immediately cursed at me.

While praising the latter’s ability over the former, I can’t help but wonder how he explained in such detail the harm caused by artificial image making.

I need to listen to this guy now······.

“Aside from the fact that I like to wear jeans and a T-shirt, I sometimes forget to wear a cheap watch at official events, and this has been caught on camera by reporters.”

“Oh, I know. But cheap? Cassio would be upset if he heard that.”

“Since it’s a Japanese company anyway, I don’t really like it.”

“I’m going off on a tangent. Don’t worry about that. Just talk about your management skills.”

“Oh, it might not be fun, so I stretched it out a bit······, yes, I understand.”

From then on, the transition to electric vehicles, hydrogen car challenges, electrification and autonomous driving, urban air traffic, and even robotics······.

Kwak Hyun-woo kept talking excitedly because I didn’t stop him.

“Genes don’t go anywhere. Chairman Park Hee-sun, who inherited the blood of the two founders, has upgraded it in her own way. That’s why I’m looking forward to it. The future of Daehyun Group, and the achievements of that gentleman.”

“Okay, I heard you.”

I felt like it was slowly coming to an end.

That’s understandable, we’ve almost arrived at the headquarters of Daehyun Motors Group.

Something was a bit odd, so the guy added one more thing······.

“Oh, by the way, I go somewhere and say that the CEO is the one who surpasses him.”

It was Abu.

I shook my head and laughed, as if I couldn’t stop myself.

(2)

Among the conglomerates leading the Korean economy, I once entered the chairman’s office of the Royal Group.

However, it is safe to say that Daehyun Group is roughly twice as large.

It’s not the actual size, but it feels like the chairman’s office and the secretaries working there.

However, I wasn’t made to wait long in the secretary’s office, and I opened the door and went in.

“Oh my, welcome back.”

Park Hee-sun comes to me with a friendly face and a welcoming smile and asks to shake my hand.

“nice to see you.”

“Yes, nice to meet you. Here, please sit down.”

Then, Park Hee-sun gives up one of the sofa seats.

As soon as I sat down, various drinks, including coffee and tea, were brought in.

“This is an Americano. It’s imported from Ghana. This is a caramel macchiato······.”

I was wondering if I should listen to the secretaries’ longer-than-expected explanation about the types and origins of coffee.

“Okay, stop. It’s uncomfortable, so everyone, please leave.”

This gentleman seemed to be quick-witted.

Does it really matter what kind of coffee or tea it is?

As long as I drink it and don’t die, I’m okay with it.

And this gentleman must also have more important business than why I came.

“Sir, please quench your thirst with whatever you want. Honestly, I don’t know what’s what either. Hehehe.”

“Even if I hear it, I don’t think I’ll remember it.”

Still, out of courtesy, I took a sip of the hibiscus tea I had heard of earlier, which had a strange name, and after savoring its sourness and freshness, I took a sip.

“Actually, I got a phone call.”

“Yes, I know that too.”

Park Hee-sun, who has been straightforward from the beginning, realizes this again and responds in an honest and straightforward manner.

“then······?”

“I asked you to look into it. To be exact, Jaehoon Ahn from our company’s management efficiency division came up with the idea. The most urgent issue for the group right now is the governance structure, and to solve this, we need a solid friendly stake.”

“okay.”

I like this guy.

It solves all my questions at once.

“To go into more fundamental terms, the center of the group is Daehyun Motors. It is where all the core businesses are concentrated. Just as the symbol of the Yoosung Group is Yoosung Electronics, the head of the Daehyun Motors Group should naturally have stable control over Daehyun Motors.”

“Yes.”

“The problem is that Daehyun Mobis owns 21% of Daehyun Motors’ total shares.”

I nodded repeatedly and listened to his explanation.

Although it was something I was already familiar with, hearing it again made me feel an overwhelming determination to secure more shares of Daewoo Mobis.

“The former chairman has about 5%, I have 2.5%······. If you add it all up, it’s 27.5%. If you ask if it’s possible to control the group with that, then yes, it’s possible because there’s a separate friendly stake. That’s what I can answer.”

“So, it is much more orthodox to acquire Daehyun Mobis shares? Is that what you are saying?”

“that’s right.”

He admitted it readily and then explained further.

“As times change, the size of the group grows and the shares inevitably become dispersed. To be honest, I also think that one day our group will not be able to go to the Park family. I think it’s not just me, but all the heads of large conglomerates in our country have thought about this.”

“I agree.”

“I’m not trying to hold onto the stocks just because I want to protect the group. I’m trying to prevent chaos. Not only me, but the entire company is worried about the fear of chaos. Perhaps, that fear is felt not only by our businesspeople but also by most domestic economic experts and some citizens.”

There was no sign that he was trying to hide anything.

That doesn’t mean I was a fool who believed everything he said.

The only thing I trusted was this man’s abilities.

But, can this person really trust me?

I have never met you before, but today is the first time I have met you.

‘Of course not.’

If I were greedy, I could intentionally shake the Daehyuncha.

In addition, by combining other shares, it was possible to fight a management rights dispute.

Knowing that, you ask me to be your friendly shareholder?

And that too, to resolve the Hyundai Motor Group’s governance structure for the first time in history?

Of course, a ball is needed.

“I would like to do this. I guess money is probably an issue for both of you.”

“you’re right.”

“Then, what if we suddenly swapped the shares of JTS and Daehyun Mobis?”

“Huh? No, that······.”

I showed a puzzled look on my face.

It’s not because I hate it.

Because it is a foolish decision to exchange the shares that each party was holding.

In short, it is a foolish act to exchange their shares with me in order to increase friendly shares.

Then I realized.

This guy is not stupid, and the leadership of Daehyun Group is not stupid either.

So, in this brief moment, there was a subject that came to mind.

“No way···, national pension?”

“······!”

I guess I guessed right.

An earthquake occurred in Park Hee-sun’s eyes.

Surprised, he didn’t say anything for a long time.

“Heh heh heh.”

He looked at me, laughing vainly.

“You are a more capable person than I thought.”

It’s the opposite.

This gentleman was more outstanding than I thought.