The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 1100
Only Noblemtl
1100
This is because the communications standard for CDMA cannot support the data required for smartphones.
Smartphones absolutely had to have a next-generation mobile communications technology environment.
This was the reason why smartphones could only be commercialized 10 years later.
It was his own mistake.
That period was the problem.
However, the upcoming IMF was also a problem.
Director Choi Min-hyeok planned to first sell the Collins division to secure more dollars and then buy time while making maximum use of the IMF.
But the position of those who didn’t know that was different.
Because it would seem like Director Choi Min-hyeok was rushing things too much.
‘Well, it’s a bit of a hassle, but it’s not something to worry about. It’s not like it deviated from the big picture I drew anyway.’
Director Choi Min-hyeok glanced at Senior Vice President Kim Hyeon-woo, who was hiding at the very back.
He was a truly terrible person.
In his previous life, he was a human who tormented him like a leech.
There was no way he could break away from KM Electronics because of how strong his desire was.
On that topic, he was a person who coolly ran away before KM Electronics went into court receivership.
By embezzling a huge amount of money from the company.
That persistent obsession was still creepy to look at even now.
But contrary to his feelings, Senior Vice President Kim Hyeon-woo was gripped with fear. He also seemed to realize that this incident was quite different from the past.
He rolled his head, tapping his fingers lightly on the desk.
Certainly, neither Han-Young Ilbo nor Vice Chairman Choi Moon-kyung have taken any unreasonable measures.
‘It’s not easy.’
If I were a character in a novel, I would have taken a desperate measure.
‘Then it would be good to combine that evidence with the existing evidence and neatly send him to prison… … .’
Director Choi Min-hyeok quickly shook off the thoughts.
“…Okay. I’ll give you time. But I can’t wait that long. I’ll give you a month. But if you try to make a fuss during that time, I won’t let you stay still!”
“…okay.”
Director Choi Min-hyeok and Chairman Choi Yong-wook did not just pass it over with words.
“But it’s not possible to do it for free. You have to hand over some of your grandfather’s shares as well. Please think about it and give me an answer. I have no intention of threatening you.”
Chairman Choi Yong-wook was astonished at the actions of his grandson, Director Choi Min-hyeok, who was threatening him in a roundabout way. He never imagined that his grandson Choi Min-hyeok would demand a price for his demands.
The feeling was… … rather good.
With that level of venom, it was time to trust him and leave it to him.
‘No, I’m not at the level where I can evaluate Minhyuk anymore.’
“…i get it.”
Only then did Chairman Choi Yong-wook look at President Choi Du-jin and then at Senior Vice President Kim Hyeon-woo.
He also realized that Senior Vice President Kim Hyeon-woo was up to something.
‘No, is it that guy Moonkyung did it? Anyway, this is a problem. I need to warn that guy Moonkyung too.’
I didn’t think my grandson Choi Min-hyeok would be affected.
No matter what he did, Vice Chairman Choi Moon-kyung seemed unable to defeat his grandson Choi Min-hyeok.
It wasn’t a question of believing or not believing.
Vice President Choi Moon-kyung was already on the edge of a cliff.
There was no way he would act like a retard like he did in the past.
‘Instead, Moon Kyung’s skills will also improve. That will lead to the growth of our KM Group. Good, this is just right.’
* * *
Only then did Senior Vice President Kim Hyeon-woo breathe a sigh of relief. He told Planning Director Kwon Tae-seong about this matter, and fortunately, he received more time than he had initially requested.
It was only a short period of almost a month, but there was still hope.
He immediately went to see Vice President Choi Moon-kyung and told her about the shares.
Especially Chairman Choi Yong-wook’s stake.
Vice Chairman Choi Moon-kyung was not angry. He already realized that the situation was serious. It was Senior Vice President Kim Hyun-woo who started it, but he did not say anything on the outside.
He became troubled after pressuring the Han-Young Daily again about this matter.
This was not something that could be overlooked. Fortunately, Director Choi Min-hyeok showed his claws during this lecture show.
A test platform that would leverage the next-generation mobile communications security protocol was not what everyone expected.
In particular, the next-generation mobile communication standard presented by Dr. Helen has taken a step further toward commercialization.
Even ETRI, Osung Electronics, LC Electronics, and even HY Electronics jumped into this project.
They each received their share and jumped into the development of the next-generation mobile communications standard.
Vice President Choi Moon-kyung was inwardly shocked as she confirmed the additional information.
Even the CDMA-related developments he knew of did not move toward this single goal.
Everyone was busy fighting over their rice bowls.
He had to disrupt this at all costs.
However, Chief Secretary Kwon Jae-hong observed Vice Chairman Choi Moon-kyung’s expression and pointed out one fact.
“This is Plims. Even if it’s CDMA communication, it seems to overlap a lot with the KD communication business. Is that okay?”
“… … ?”
Vice Chairman Choi Moon-kyung was so crazy over the KM Group stock issue that she couldn’t readily understand what Chief Secretary Kwon Jae-hong was saying.
Even in the case of Plims, it was a topic that everyone only talked about developing.
I’m not talking about development, I’m talking about development.
On the one hand, it was bound to be lower in priority compared to other items.
“That’s not important right now. If it gets to that guy Minhyuk… … .”
“KM Group shares are important. But didn’t the vice chairman invest a huge amount in KD Communications? He even invested a portion of the borrowed money. If there is a problem with KD Communications, there will be a loss… … ”
“… … !”
Only then did Vice President Choi Moon-kyung jump up from her seat as if she had been hit in the head with a bat.
Fortunately, Chief Secretary Kwon Jae-hong had already prepared for this situation.
He called in a Plims expert.
It was a call to one of the working-level staff within KD Communications.
Of course, he brought up a bad story.
“Plims is fundamentally different from existing services. The service can be used regardless of region or terminal. In particular, the communication network performance itself is on a different level from the CDMA network.”
Even dates related to pictures, videos and multimedia were explained.
“The MP3, MPEG-2, and ATSC technologies secured by Director Choi Min-hyeok are the foundational technologies of this Plims. Therefore, the development speed will be faster than we expected.”
Vice President Choi Moon-kyung immediately shouted.
“That doesn’t make sense. KD Communications alone is running a huge deficit. How can a service like Plims, which is even more advanced, be developed right away?!!!”
“…that is.”
The staff could not immediately respond to the angry Vice President Choi Moon-kyung.
Vice Chairman Choi Moon-kyung was right. However, what Director Choi Min-hyeok showed through this ETRI lecture show was a technology that overcame such concerns.
He honestly said that he would have opposed the investment in KD Communications if Director Choi Min-hyeok’s lecture show had been revealed first.
In that sense, Director Choi Min-hyeok’s recent lecture was very well-timed to spy on KD Communications.
It wasn’t just a simple rip-off, it was a loss of hundreds of billions of dollars in capital.
Secretary Kwon Jae-hong tried to persuade Vice Chairman Choi Moon-kyung by encouraging the dispirited engineer. He had to keep listening to the story.
“Are you saying that if the Plims service is launched, KD communication service will also be affected?”
“It won’t be a big hit. The concept above IP City Phone is Plims. In the end, Plims will utilize this IP City Phone content. Then, what will be the competitiveness of IP City Phone?”
“… … .”
Secretary Kwon Jae-hong kept his mouth shut with a pale expression.
He couldn’t be unaware of what the other person was saying.
Moreover, since the other person was also watching, I couldn’t tell him everything I was thinking, so I swallowed my words as I was about to say, ‘I didn’t know why Director Choi Min-hyeok sold the IP City Phone technology, but now that I think about it, I think there was a reason for everything.’
Vice President Choi Moon-kyung’s eyes are not ordinary.
He ended up running away from the vice-chairman’s office after asking for understanding from Chief Secretary Kwon Jae-hong.
Vice President Choi Moon-kyung was angry, but he stumbled when he realized the reality too late.
Fortunately, he sat down on the sofa with the help of Secretary Kwon Jae-hong.
Vice President Choi Moon-kyung sweat profusely as if he were sick.
He was at a loss as to what to do as he calculated the worst possible loss.
“… I don’t know much about it, but isn’t this a more serious problem than the KM Group shares?”
“Yes. Especially not to tell other investors, including Salomon Brothers. But they are not stupid, so they will soon figure it out.”
“Are you suggesting that we sell KD Telecom shares?”
“… I looked into it myself, and there are already people who have liquidated their investment stakes. Hedge fund investors are already liquidating their stakes.”
“… Don’t those kids already know this fact?”
“I wasn’t sure about it. So I don’t think they took any chances. However, things are a bit different now. Director Choi Min-hyeok isn’t going around talking about the value of this lecture show, but… … .”
“I guess you’ll find out soon enough.”
Vice Chairman Choi Moon-kyung forgot everything else. He had folded it as per Director Choi Min-hyeok’s intention. Now, he had to solve the problem at hand.
“What about the DL group? I don’t know the situation there.”
Secretary Kwon Jae-hong let out a sigh.
“The DL Group is in a bad situation because its insurance affiliates are struggling. Oh, come to think of it, that also has something to do with Director Choi Min-hyeok.”
“I understand you’ve borrowed quite a bit of money?”
“I just keep it as insurance just in case.”
“The interest isn’t cheap, is it?”
“But it’s much better than suffering a loss.”
“Then pretend to suffer a loss and ask for my opinion. I think it would be good to take advantage of the fact that Minhyuk is after the KM Group shares. If you lack the funds to secure shares due to the management succession, I will understand.”
“…All right.”
Chief Secretary Kwon Jae-hong also did not express any particular opinion, unlike usual.
He was actually lucky enough to figure out Director Choi Min-hyeok’s plot.
‘Maybe they can wait for the KD communications deficit to pile up more. If it explodes a few months later, the impact will be greater. It’s really unbelievable.’
Secretary Kwon Jae-hong glanced at Vice Chairman Choi Moon-kyung’s face.
Vice President Choi Moon-kyung appears to have lost her senses due to the great shock.
‘Director Choi Min-hyeok is truly amazing.’
* * *
The story of the development of the Plims technology, later called IMT-2000, was already mentioned many times before Director Choi Min-hyeok’s story about the next-generation mobile communications standard.
Even at this time, each country and its telecommunications companies were already in fierce competition.
Even in the United States, Plims was developing its own technology and standards.
To be exact, we were trying to develop it.
Multinational companies such as Qualcomm and Motorola participated in this development.
Even Japan considered developing it independently by putting forward its Japanese telecommunications company.
Europe was no exception. They too were developing technology in the form of Plims, and Ericsson took the lead.
In the end, there was no set plan because the US, Japan, and European countries were in fierce competition.
In this situation, there wasn’t much Korea could do.
Rather than wasting money, I wanted to take advantage of the winner if he emerged.
The DL group was no exception. They did not want to take risks. They were afraid that they would suffer more losses if they took risks.
Strictly speaking, it was due to losses resulting from massive investments in KD Communications.
Because they were already greedy about IP city phones and were under financial pressure.
President Kim Hyun-tak knew this well. That is why he tried to resign as president of KD Telecom when the next-generation mobile communication standard came out.
But he couldn’t do that because of pressure from DL Group Chairman Kim Sang-goo.
First of all, it is because of the order to guard the KD communication position.
In fact, Chairman Kim Sang-goo also felt a sense of crisis and could not let President Kim Hyeon-tak step down, even for the sake of information.
President Kim Hyun-tak was taken aback by the sudden appearance of Secretary Kwon Jae-hong and his story.
“I need money to secure shares in the KM Group. So I want to sell all of my shares in KD Telecom. You’ll give me a 20% discount, is that what you’re saying?”
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