The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 1108



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1108

Director Choi Min-hyeok also didn’t feel like it was someone else’s business. No, he looked back at his past life’s memories. Surprisingly, something similar happened in the future.

‘The trade deficit has skyrocketed since the coronavirus outbreak.’

At that time, the semiconductor deficit increased significantly due to the economic recession.

There are some differences in variables between then and now, but the external environment was not different.

However, Director Choi Min-hyeok realized that his future self and his current self were different.

‘Is it because of the money?’

That’s right. The $25 billion in funds from the sale of Apple shares that he currently has in his possession.

The amount of cash held by KM Electronics is separate.

It was a purely usable cash asset, minus the stake held by Belin Investments.

‘There’s a $6 billion sale price for Collins. Wow, that’s a lot.’

Director Choi Min-hyeok first stockpiled as many bullets as possible in preparation for the IMF. However, he was shocked when he saw the results.

This would have been a different story.

For Director Choi Min-hyeok, the crisis facing him was not a crisis, but an opportunity.

Director Choi Min-hyeok was worried about the trade deficit, but instead smiled brightly.

“But we still made a lot of profit, didn’t we?”

Team Leader Jo Seong-don really wondered if Director Choi Min-hyeok was talking without knowing anything.

“Most of the funds are in foreign corporations. The amount officially brought in is only $1 billion.”

It is a preparatory fund for crocodile tears.

In fact, the prices of real estate purchased with this money were falling every day.

The mainstream Korean media, including the Hankyoreh, has been chewing out Director Choi Min-hyeok’s investment failures day after day.

‘I’m grateful that you even confirmed the kill.’

When real estate prices jumped more than tenfold four years later, it was evidence that the controversy over preferential treatment had been eliminated.

Obviously, when holding a public hearing, all that is needed is to organize and publicize the articles that the media has been publishing.

Moreover, it is true that the $1 billion will help Korea’s trade balance.

But it wasn’t a big factor.

Team leader Jo Seong-don stumbled over one point.

“The huge deficits of companies like KD Communications that have taken unreasonable measures are also a problem. If these companies had not been created, the deficits would not have increased to this extent.”

In the end, companies like KD Telecom ate up all the foreign currency earned by Director Choi Min-hyeok.

Actually, there are quite a few companies like this.

These were reckless moves based on the legend of Director Choi Min-hyeok.

“… … .”

Director Choi Min-hyeok thought about it carefully. He also wanted to punish Congressman John Smith.

But there weren’t that many ways.

He couldn’t just pick at the situation and make a fuss about it when the American public opinion about him had not yet settled down.

‘Should I do something about it after Stephen’s previous speech?’

He suddenly remembered the Apple short selling plan and exclaimed, “Oh no.”

Now was not the time to be picking on Representative John Smith and the hornet’s nest that is the United States House of Representatives.

‘The Clinton administration is also taking precautions for the sake of re-election.’

A more serious problem there is the IMF.

If he were to check Rep. John Smith now, there could be a variable that could cause changes in the IMF process.

I’m talking about the timing and scale of the IMF.

‘That’s absolutely not possible!’

Director Choi Min-hyeok realized once again that he needed to be careful.

‘Let’s put the John Smith issue aside for now.’

The important thing was the Han-Young Daily, which could be said to be the source of the work.

“It is not the time to throw domestic issues aside and start a local war within the United States and start a two-front war. For now, let’s first resolve the Han-Young Ilbo issue and then deal with Congressman John Smith… … .”

But as Director Choi Min-hyeok spoke, he realized that things that would have happened later according to his memories of his past life actually happened sooner.

In the worst case scenario, this could have actually become a variable for the IMF.

He shook his head furiously.

The essence of the Plims Project was very simple.

The problem is that the world’s Plims communication standards cannot be consumed by an individual on a daily basis.

Although he cried crocodile tears and talked loudly through the media, there were still those who doubted his words.

No, companies like Oseong Electronics didn’t believe in themselves in the first place.

“… Ah, let’s do this. I think I made a mistake. It would be better to split the interests. Yes, let’s create a new corporation related to Plims and try to sell the shares. The planning team should review this plan right away and give me an answer within three days.”

“…All right.”

Team Leader Jo Seong-don did not question Director Choi Min-hyeok’s unexpected remark. He would have said something before the development of the Plims chip, but he could not do so now.

‘Because I’m getting calls like crazy.’

And this is not just for mid-sized companies, but for all of the top 30 companies in Korea.

* * *

The planning team wasn’t particularly surprised by the bill to establish a new corporation, Plims.

Large corporations such as LC Electronics, Oseong Electronics, HY Electronics, and Daewoo Electronics also rushed to participate this time, unlike before.

Even mid-sized companies showed a very humble attitude. They mobilized their connections in the Ministry of Finance and Economy to shout the slogan, “Let’s live together!”

The planning department also reported this situation, but did not receive a response.

Director Choi Min-hyeok also had no other choice because the current situation was different from his memories of his past life.

In fact, the biggest problem right now is not domestic, but people like Congressman John Smith.

Manager Bae Jong-dae, as a securities expert with some insight, simply thought that what was meant to happen would happen.

“I knew this would happen.”

Deputy Manager Jeong Seong-geun also took a sip of coffee and sat down at his seat in the conference room, speaking to Manager Bae Jong-dae.

“You mean the Plims interests?”

“Of course. There’s a lot of chaos these days because of the development of CDMA terminals. All the major companies, including LC Electronics, Oseong Electronics, and HY Electronics, are all involved.”

In fact, the sight of large Korean companies being obsessed with terminals was no different from that of a madman.

This was also related to the trade deficit.

This is the problem of declining competitiveness of Korean products.

Large corporations were more aware of this problem than anyone else.

Therefore, they could not trust only the semiconductor business of Oseong Electronics.

If you look at it that way, the terminal business was okay.

This is because demand exploded as the number of users rapidly increased, unlike in the early days of CDMA.

When you factor in the US, European and Japanese markets, the profits are astronomical.

It was also an opportunity for large Korean companies to transform from small Korean companies into multinational corporations.

Large Korean companies were desperately looking for CEO Choi Min-hyeok to survive.

Thanks to this, the series of articles on Chief Choi Min-hyeok of the Han-Young Daily also came to a halt.

If these companies want to join hands with Director Choi Min-hyeok, they must not advertise in the Han-Young Daily.

“The atmosphere at Han-Young Ilbo is no joke these days. I heard from an acquaintance that there are even rumors that it might go bankrupt.”

“Surely it would be a good thing for a major media company to go bankrupt?”

“That’s because you don’t know Director Choi Min-hyeok’s personality. He’s no joke. Look at his actions toward Senior Vice President Kim Hyeon-woo. Even though he transferred to Oh Sung Electronics, he did something useless, so he tried to pressure Oh Sung Electronics to get him fired.”

“but.”

Deputy Jeong Seong-geun also clicked his tongue. Even after hearing this information, he couldn’t believe it.

Vice President Park Sang-ki also sat down, unable to adjust to the time difference after returning from a business trip to the United States. He felt that the atmosphere at KM Electronics had changed a lot.

“Plimsra… … .”

Manager Lee Jeong-won spoke cautiously, glancing at the situation.

“The mood in the US seems to be unusual. Have you heard anything?”

“I went there because of additional royalty negotiations with Apple. I don’t know much about that side. However, I think it’s true that they are paying attention to ETRI Korea. American media like CNN cover ETRI quite a bit.”

This was true.

ETRI has attracted attention as it has grown into a world-class communications research institute.

But during this time, they even developed the Plims chip, so I watched it closely.

Manager Jeong Seong-geun grumbled.

“There will be a lot of interest in Director Choi Min-hyeok’s stake in the newly established Plims corporation.”

Vice Minister Park Sang-ki nodded obediently.

“Director Minhyuk Choi made $25 billion with a 12% stake in Apple. There was already one best practice, so there will probably be more.”

New employee Choi Seung-jin swallowed dry saliva and spoke carefully.

“But will people accept the Plims Corporation that owns the original Plims technology?”

“They probably won’t tolerate it. That’s why Director Choi Min-hyeok is trying to sell his stake and share the profits. Those who are fiercely criticizing Director Choi Min-hyeok right now will definitely change their attitude if they just get the stake. Of course, this isn’t something an individual can do, but what can you do? There’s no other alternative.”

“… … .”

Only then did everyone become silent.

Chief Bae Jong-dae had actually been thinking only about domestic issues, but when he expanded the scope to the world, he realized that this was by no means an easy task.

No, it was serious.

Because it was a global problem.

Vice Minister Park Sang-ki clicked his tongue.

“It must be because of the development of the Plims chip. If it weren’t for that, this wouldn’t have happened. No, the problem must be what Director Choi Min-hyeok showed at the ETRI show.”

Only then did the KM Electronics planning team realize what was going on.

Even what it is that you are supposed to do.

However, they were curious about how much profit Director Choi Min-hyeok would make from this incident.

‘How much is a 1% stake in Plims worth?’

* * *

The KM Electronics planning team is no longer just a domestic planning team.

This is because they have gained experience by traveling abroad frequently.

Accordingly, the report on the new Flims Act was also created based on these criteria.

However, the equity value could not be clearly determined.

This is because the new corporation Plims has not yet created a finalized standard.

Director Choi Min-hyeok was troubled as he checked the list of partners listed in this report.

It wasn’t much different from the category he had in mind.

The parts that could be problematic were also clearly pointed out.

‘As expected, it’s our planning team. Their skills have improved a lot.’

It was not the planning office that he had when he was the planning manager of KM Electronics.

He initially thought of Oseong Electronics as a partner, but soon dismissed it.

HY Electronics was excluded due to various issues. I did not want to create a complex situation by needlessly linking HY Electronics with the sensitive issue of Plims with the government.

Ultimately, the answer was LC electronics.

‘It’s a good thing. This is the perfect opportunity to put pressure on Oseong Electronics.’

He next wanted to use LC Electronics to spread the word about the new Plims corporation.

If so, the method was very simple.

He just needs to visit LC Electronics in person and put on a show.

The only question was what would be good for that event.

“How about visiting the LC Electronics Research Institute?”

Team leader Jo Seong-don tilted his head.

“LC Electronics’ manpower is well known, so is there a need to do something like that?”

“Because the media needs to know.”

“yes?”

“If the Korean media knows, the American media will naturally know. If that happens, people like Congressman John Smith will also know.”

Team Leader Jo Seong-don was no longer a fool. As soon as he heard Director Choi Min-hyeok’s words, he quickly realized what Director Choi Min-hyeok was intending.

“… Are you really planning to cause discord among them?”

“You call it sowing discord? That’s a very sad thing to say. It’s just an intention to share the profits. If they know this, they’ll use funds or investment institutions to buy shares and make a profit. They’ll take care of managing Congressman John Smith.”

Team leader Jo Seong-don nodded obediently and spoke in a worried tone.

“But there has been no sales yet from Plims. The standard has not been established yet. In this situation, will the equity value be properly evaluated? Wouldn’t this incident be an excuse to cause more problems?”

“You have to try to make sure that doesn’t happen. And, since I’m already here, I don’t have to sell my shares. After all, time is the answer. When negotiating to sell your shares, don’t be picky about the means and methods, and just hit it as hard as you can.”

Director Choi Min-hyeok naturally did not want to sell his stake in Plims.

But if we leave it like this, people like Congressman John Smith will rise up like a swarm of bees.

Even though Director Choi Min-hyeok was the patent owner, he could not ignore them.

No, it shouldn’t have been ignored.

“Well then… … . Okay, I understand.”