The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 1091



Only Noblemtl

He glanced at Planning Director Kwon Tae-seong.

“What did Executive Director Park Yong-hyeok say? He said he was thinking of acquiring our automobile division? And at a fair price.”

Planning Director Kwon Tae-seong naturally spoke to Executive Director Park Yong-hyeok about the car sales rights.

“It’s not that I’m denying it. The HY Group has always been uncomfortable with our cars.”

To be exact, it was not only HY Automobile but also most Korean automobile companies that were concerned about the Oseong Group’s entry into the automobile industry.

They all came together to try to block the Oseong Group automobile industry from the government side.

Public opinion wasn’t very good either.

Chairman Ahn Geon-min did not waver in his beliefs even in the face of such pressure.

In the end, it was difficult to get to this point.

Director Choi Hak-jun of the Strategic Planning Office spoke cautiously after a while of silence.

“… However, it would not have been easy if the government at the time had not restricted HY Automobile.”

“Yes, that’s right. That’s right.”

Chairman Ahn Geon-min recalled past memories with a complicated expression.

The Oseong Group’s entry into the automobile industry was a difficult achievement.

And now we have to give up on the automobile industry.

This is a golden opportunity for the HY Group.

They are just businessmen.

There is no way I could do business at a loss.

However, we had to accept a loss because of one suggestion made by Director Choi Min-hyeok.

“Yeah. I guess they were interested in autonomous driving technology.”

Strategy Planning Office Director Choi Hak-jun sighed. Because of the card that Director Choi Min-hyeok had pulled out, he could not even dare to imagine any other alternative.

If you make a mistake and hurt someone’s feelings, you could end up losing hundreds of billions or trillions of won.

“… Yes. I had imagined that technology, but I didn’t know it would come out like that. I only thought of it being applied to Oseong Materials, but I didn’t know it would be applied to automobiles.”

The data uploaded by Oseong Mulsan clearly shows how complete the animation system platform is.

Because Osung Materials provided a service to check it separately.

The Strategic Planning Office knows that Director Minhyeok Choi’s proposal is not just an empty promise.

In fact, if we had significantly increased our investment in capital and human resources, we could have actually brought forward the schedule.

But the reason why it couldn’t be done like that was because of KMBOOK’s attitude.

To be exact, I’m talking about Director Choi Min-hyeok’s attitude.

Director Choi Min-hyeok did not properly increase the development speed even though he said, “Time goes by quickly.”

However, Director Choi Hak-soon could not bring himself to mention the complaint raised by Team Leader Park Jae-hyung.

But there is no way that Chairman Ahn Geon-min was unaware of that reality.

He sighed in a way that was uncharacteristic of him. He couldn’t ignore the practical problems.

Although he himself was pushing ahead, the deficit in the automobile business was not negligible.

Even more serious was not the car business itself.

Signs of trouble are beginning to appear in the local economy.

‘I think it might have something to do with that.’

The Oseong Group Strategy Planning Office was already conducting a separate investigation, even though it was not based on the advice given by Director Choi Min-hyeok.

However, I did not know exactly what kind of crisis would occur or how it would occur.

That is why he closely monitored the movements of Director Choi Min-hyeok and the KM Group.

And there was an unresolved question in that part.

If Chairman Ahn Geon-min had not been paying attention to this part, he would have been angry at Director Choi Min-hyeok’s proposal.

But he could never do that.

“Selling the car business… … .”

The meeting was suspended here for the time being as he said he wanted to be alone.

* * *

Chairman Ahn Geon-min felt regretful.

If there had been some sales, things would have been different.

Because he can partner with Director Choi Min-hyeok on autonomous driving MOU technology.

‘If only I had three years, no, two years.’

Time was of the essence.

It was clear that this was why Director Choi Min-hyeok made such an extreme suggestion.

Chairman Ahn Geon-min could not have imagined that Director Choi Min-hyeok would bring ‘Ani autonomous driving technology’, ‘HY automobiles’, and even ‘GM’ to the stage.

After much thought, he finally called in Director Choi Hak-jun separately.

“What should I do right away to accept Director Choi Min-hyeok’s proposal?”

“The $6 billion funding is the problem.”

“You don’t have that money?”

“The situation is different than usual. The current local cold wave is fatal to us. We need to take precautions considering this crisis.”

“What exactly can you do right now?”

“We need to reduce more than 5% of our overall business and consider mid- to long-term restructuring.”

In particular, the extravagant manufacturing management of the Oseong Group was a problem.

This must be followed by preemptive restructuring.

Electronics and chemistry, which are doing well, were no exception.

“Now, we need to reorganize our business around performance, not cash flow. We need to eliminate all unnecessary businesses, and we need to drastically reduce the size of our executive team.”

“… It seems that’s not all.”

“The wage increase rate for executives and employees should also be drastically reduced to around 3%. Bonuses should also be frozen, and the scale of in-house welfare benefits should also be drastically reduced.”

Director Choi Hak-jun made specific suggestions as if he had been preparing for this situation.

Chairman Ahn Geon-min listened to the story silently and then suddenly asked a question.

“If I acquire the Collins division, will I be compensated immediately?”

“… Yes. It is worth it. In the first place, the productivity of KM Electronics and our Oseong Electronics is incomparable. At least 10 times, at least 20 times more profit will be secured. Furthermore, since the demand is targeted at countries like Europe, the US, and Japan, it may be possible to avoid the current domestic crisis.”

“… … .”

Chairman Ahn Geon-min remained silent. He could not ignore Director Choi Min-hyeok’s absurd proposal. The Oseong Group’s strategic planning office had already calculated the profit and loss.

“… Try moving in the strategic planning department. Move towards the acquisition of the Collins division. And start renegotiating with the HY Group again. You can’t sell the automobile division for cheap.”

“… Oh, I understand.”

Director Choi Hak-jun had a lot of questions he wanted to ask, but he couldn’t bring himself to ask them.

This is because Director Choi Min-hyeok’s absurd proposal was actually a sophisticated trick.

‘I can’t believe things are going this way.’

For him, it is no longer possible to look down on Director Choi Min-hyeok.

‘No, it’s probably the opposite.’

* * *

Upon receiving instructions from Chairman Ahn Geon-min, Director Choi Hak-jun informed Team Leader Jo Seong-don of this agenda through the Collins Business Unit acquisition team that had already been assigned to the Strategic Planning Office.

It was a very different proposal from before.

Team Leader Jo Seong-don was also shocked. He had also confirmed that the Oseong Strategy Planning Office was mobilizing even the legal team.

Chief Bae Jong-dae also stuck out his tongue after learning this information.

“Hey, is this really going to happen? You said $6 billion, right? Are you really saying you’re going to buy the Collins division for that price?”

Vice Minister Park Sang-ki was equally surprised.

“Even if it’s the Oseong Group, it probably doesn’t have that much cash right now. Did the Oseong Group Strategy Planning Office really make a move?”

Team leader Jo Seong-don clicked his tongue.

“It seems like they are selling off their real estate holdings and unnecessary stocks. They are even reorganizing unnecessary businesses within the Oseong Group. Among them is the sale of the automobile business. Of course, they can’t help it because of the funds.”

But, Manager Jeong Seong-geun thought differently.

“Honestly, Chairman Ahn Geon-min’s love for the automobile business is well known. However, the deficit is the problem. If the deficit increases, it will have a negative impact on the entire O-Sung Group. It would be a more reasonable choice to hand over the business to HY Automobile.”

Chief Bae Jong-dae criticized him.

“Hey, Manager Jeong, do you know how much Chairman Ahn Geon-min struggled to enter the automobile business? The amount of slush funds he gave to the political circle alone must have exceeded hundreds of billions. And he’s giving up the automobile business like this?!”

“The situation is inevitable. GM is the biggest problem there. Imagine if GM and HY Motors formed a joint venture for autonomous driving. Ohsung Motors wouldn’t be able to handle it!”

“… It’s autonomous driving technology.”

Only then did everyone stick out their tongues.

The three autonomous driving joint ventures that CEO Choi Min-hyeok worked on were GM, HY Automobile, and Belin Investment.

However, there was a condition attached to HY Automobile that it must acquire Oseong’s automobile business at a reasonable price.

GM goes without saying. GM couldn’t give up autonomous driving technology for survival now. They had to push ahead with the joint venture even at the cost of losses.

At this, the planning team all stuck out their tongues.

If you think about it, Director Choi Min-hyeok had already laid out the groundwork for this incident.

The planning team didn’t have much to do either.

Chief Bae Jong-dae sighed.

“I don’t think this is all a good thing.”

Vice Minister Park Sang-ki instead snickered.

“I heard you enjoyed fishing?”

Chief Bae Jong-dae lightly dismissed his words.

“Don’t say that. Honestly, if our planning team loses its place, Vice President Park will also be negatively affected. If you actively take the lead in these matters and build up your achievements, wouldn’t you be promoted to manager or director?”

Vice President Park Sang-ki frowned.

“That’s not something Manager Bae should be talking about. He should be more concerned about his promotion than me.”

“No, what did I do? I am truly loyal to the company.”

“Ugh.”

Vice President Park Sang-ki waved his hand. However, he was also taking this matter seriously and spoke cautiously to Team Leader Jo Seong-don.

“Are you sure this is going to be okay?”

Team leader Jo Seong-don ended up laughing bitterly.

“Even if we let it go now, it will be a problem in the future. Our planning team also needs to come to their senses. Director Choi doesn’t want a robot that just does what he’s told to do, but someone like Team Leader Kang Jun-seok who moves on his own.”

The planning team’s expression could not have been good when the name ‘Team Leader Kang Jun-seok’ came out.

On the one hand, they now seemed to understand why Director Choi Min-hyeok had released Team Leader Kang Jun-seok to Silicon Valley as a freeloader.

* * *

Director Choi Min-hyeok was somewhat surprised when he heard about the atmosphere of the Osung Group’s strategic planning office through Team Leader Jo Seong-don. He honestly did not know that Chairman Ahn Geon-min would accept his proposal so readily.

“… Any further word on the purchase price for the Collins division?”

“Yes. I think it’s currently 6 billion dollars. This is just my opinion, but if you waste time negotiating, the price of selling the business division will be… … .”

He didn’t even say, “I think you’re worried about it going up.”

Director Choi Min-hyeok grumbled when he saw Team Leader Jo Seong-don’s sharp gaze.

“I’m not that kind of person who is so closed off. I’m here to negotiate.”

“… But the Oseong Group’s strategic planning office seems to think differently. In fact, 4 billion dollars would be enough to cover the sale price, but they raised it by 2 billion dollars.”

Even Director Choi Min-hyeok could have raised the price further if he felt bad.

“I think it was a big step forward in making it easier to sell the auto division of the Oseong Group through HY Automobile.”

“Is that so?”

“Yes. In particular, GM is something that cannot be left out. With GM’s joint venture underway, Chairman Ahn Geon-min must have been at a loss as well.”

“…is it so.”

Director Choi Min-hyeok did not like Team Leader Jo Seong-don’s tone, but he did not point it out. He thought of himself as a reasonable person.

He was concerned about other matters.

Chief Choi Byeong-yeon refused the scout offer because he was loyal to him.

But the situation was a little different for other executives and employees.

Even if the KM Electronics HR team offered compensation, it might not be to his liking.

At that time, any one of them could betray KM Electronics.

Internal technology could have been exposed to the outside.

He thought that the Han-Young Daily could surprisingly exploit this vulnerability.

‘It’s not the Han-Young Daily, but the Hanbu Group that can take the lead. If Manager Yang Jeong-chun had made a move, it could have turned out like this. Wait, now that I think about it, that guy is here.’

“You know Managing Director Kim Hyeon-woo, no, Senior Vice President Kim Hyeon-woo, right?”

“Yes. I’m currently at Oseong Electronics… … .”

“It seems you’re still attached to Oseong Electronics. And you’re using my information to do that. You couldn’t pressure Oseong Electronics’ personnel until now, but things are different now. Meet with Planning Director Kwon Tae-seong and tell him to fire that guy right away.”

“Huh? Why is that all of a sudden… … .”