The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 1111



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1111

Director Choi Min-hyeok recalled his memories from his past life. Surprisingly, President Choi Du-jin owned quite a bit of stock in a major media outlet.

“Yes, they will own some of the shares. Moreover, the debt ratio of Han-Young Ilbo is over 200%.”

“That’s because the advertising is suspended… … .”

“What does that matter? The result is what matters. If things continue this way, the deficit of Han-Young Ilbo will snowball. Vice President Lee Dong-soo is holding on by using his friendly stake, but it won’t be easy to endure.”

“If you do that, I will make an appointment to meet with CEO Choi Du-jin.”

“… If you’re going to meet, try to tell him a little about why you’re meeting. President Choi Du-jin will probably agree to it if you cover up Senior Vice President Kim Hyeon-woo’s work.”

“Are you planning to pretend that your KM Group shares never existed?”

“No, that’s not true. I need to receive KM Group shares. The amount of shares will probably be reduced. The important thing is that I want to check what President Choi Du-jin thinks through this incident. Is he an ally or an enemy? I don’t want to get stabbed in the back of the head later.”

“…All right.”

* * *

It is true that Choi Min-hyeok’s image was bad thanks to the Han-Young Daily’s Choi Min-hyeok series of articles.

This is something that happened overlapping with things that have already happened several times in the past.

However, the situation changed when Director Choi Min-hyeok aggressively proposed the establishment of a new corporation, Plims.

Director Choi Min-hyeok was also involved in commercialization that was faster than that of countries that possess the original CDMA technology.

No, it wasn’t to that extent.

The person who is also Qualcomm’s largest shareholder is none other than Director Choi Min-hyeok.

He was the person who promoted the commercialization of CDMA together with ETRI.

Faster than the United States, the country that possesses the original CDMA technology.

The efforts of domestic technical staff in this regard cannot be ignored.

However, it is not an exaggeration to praise Director Choi Min-hyeok for intervening and protecting ETRI’s patent rights.

Originally, this incident was manipulated to the point that the general public was unaware of it because of the anti-Choi Min-hyeok faction.

But when news of the new corporation Plims came out and the past was brought to light, the truth was revealed.

The Han-Young Daily was torn to pieces not by other media outlets but by local community groups.

Unlike in the past, Director Choi Min-hyeok’s image has been established as that of a third-generation chaebol who does not give up on his dreams.

Even CEO Choi Du-jin was disgusted by Director Choi Min-hyeok’s image and stuck out his tongue.

He now wanted to invest again in Director Choi Min-hyeok rather than Senior Vice President Kim Hyeon-woo.

But right now, there was no way to invest other than KM Electronics stocks or shares of Choi Min-hyeok’s affiliates in the US.

President Choi Du-jin was worried about his son, Senior Vice President Kim Hyeon-woo. In this situation, he was actually happy when he received a call from Team Leader Jo Seong-don asking to meet.

However, this meeting was not because of Senior Vice President Kim Hyeon-woo, but because of the Han-Young Daily.

He could not have been unaware of Director Choi Min-hyeok’s intentions.

Fortunately, he owned shares in the Han-Young Daily.

Of course, it wasn’t that much.

He couldn’t understand why Director Choi Min-hyeok suddenly made such a suggestion, so he investigated it.

It was only then that Director Choi Min-hyeok realized that he could not purchase shares of Han Young Ilbo because of the public opinion around him.

The alternative was himself.

He instructed his senior attorney, Min Ki-sik, to check whether he could acquire shares of the Han Young Ilbo.

However, there were more people than expected who wanted to sell their shares in the Han-Young Daily.

The result was that advertisements were cut off one after another due to the conflict with Director Choi Min-hyeok.

Rather, he was terrified because he didn’t know that Director Choi Min-hyeok’s popularity was sky-high.

President Choi Doo-jin didn’t hesitate for long. He thought that now was the right time to purchase shares of Han Young Ilbo.

The purchase of Han-Young Ilbo shares was considered separately from Senior Vice President Kim Hyeon-woo.

In particular, there were many people I knew among the shareholders of Han-Young Ilbo.

Attorney Min Ki-sik expressed concern about this point.

“Is it okay? Because HY Group pulled out their advertisements, even mid-sized companies stopped advertising in Hanyoung Ilbo. Hanboo Group is helping, but it won’t be effective.”

“Is the Hanbu group also difficult?”

“Yes. Especially these days, there is a lot of talk about it, so it is difficult for banks to provide loans as easily as before.”

“…Isn’t that serious? From what I remember, the loan amount is already quite large.”

“What is apparent is serious, but what is not is more problematic. After all, it is said that it is related to the regime… … .”

“Tsk.”

President Choi Du-jin clicked his tongue. In his view, if Hanbu Group had not been related to Director Choi Min-hyeok, the situation would not have gotten this bad.

If you look closely, that one-part group also had a link to Han-Young Ilbo.

“… What on earth did the Han-Young Ilbo believe in that they attacked Min-hyeok?”

“… It seems that the government is involved.”

Only then did President Choi Doo-jin chuckle. He realized that the money-crazy hunting dogs of the regime were running wild.

“… Minhyuk is really amazing.”

“Director Choi Min-hyeok seems to have been concerned about the problems that would arise when the government changes.”

“Are you talking about the prosecution investigation that takes place when the government changes? Do you think this government will change?”

“It’s because of the X report. I hope it doesn’t go as planned, but so far it’s all been right.”

“They say that the trade deficit this year will exceed 20 billion dollars.”

“What is more serious is the attitude of high-ranking officials. Some officials in the Ministry of Finance and Economy are warning of an economic crisis, but they are not willing to listen.”

That’s right.

The Ministry of Strategy and Finance closely investigated and reported on signs of an economic crisis thanks to Director Choi Min-hyeok.

But the higher-ups and other high-ranking officials in the ministry did not take it seriously.

He said the Korean economy was strong.

Actually, it wasn’t a wrong story.

It is true that Korean companies are doing well even though they have a lot of debt.

After all, the government’s hunting dogs didn’t care about external issues.

“So Minhyuk was after that guy’s money after all?”

President Choi Doo-jin didn’t find this particularly strange.

He thought that Director Choi Min-hyeok was surprisingly paying attention to public opinion.

Of course, this is also a misunderstanding.

After the IMF, Choi Min-hyeok was bound to be criticized for seeking vested interests.

It was to reduce the criticism that could come out at that time.

“First, try to secure as much stock as possible in Han-Young Ilbo.”

“…All right.”

* * *

Congressman John Smith could not stand by and watch this Choi Min-hyeok situation unfold.

He continued his advance by resorting to coercion and, if necessary, threats.

But then, suddenly, President Juliet Robertson appeared in front of him.

“… It’s been a while.”

“Yes, that’s right. But I didn’t come here because I wanted to. Everyone is very worried about you, sir. I came here on their behalf.”

The word ‘they’ refers to hedge fund forces. It should be seen as referring to a group of global corporations, not just speculative capital.

It was not a mere coincidence that President Juliet Robertson appeared here, it was a coincidence.

It has been President Juliet Robertson who has remained cold to this day.

He is one of his political supporters.

Although it is not a large amount.

But that doesn’t mean I can ignore him.

Because there are rumors that there are other sponsors behind it.

In fact, it’s not like I’ve stopped supporting it. Other members of the National Assembly will support it too.

He himself did not like President Juliet Robertson.

However, we could not ignore the donations that came in secretly.

No, aside from that, there were more members of Congress who knew Chairman Juliet Robertson than I thought.

“… Could it be because of Director Choi Min-hyeok?”

Chairman Juliet Robertson made no secret of her intentions. She handed over a file from her aide entitled ‘The Ripple Effects of the Establishment of the Plims Corporation.’

“Read it.”

“… I’ll read this later… … .”

“No. Read it right here, right now. This is my sincere advice.”

Congressman John Smith gritted his teeth. This wasn’t his usual Juliet Robertson.

“Are you making fun of me?”

“It seems to me that you, Congressman, have a ridiculous view of the world.”

“Is that what you call it?”

“There is a saying in the East, ‘a frog in a well.’ It refers to a frog in a well. I feel like Senator John Smith is like that frog right now.”

Congressman John Smith abruptly rose from his seat. Sensing that the mood was tense, his aides also left their seats.

President Juliet Robertson sighed at the sight.

“Read the report first. Then we’ll talk.”

Congressman John Smith gritted his teeth, but he could not ignore his opponent’s proposal.

He eventually read the report on the new corporation Plims.

And I couldn’t take my eyes off it.

The Plims technique wasn’t the problem.

It was because of the ripple effect.

In fact, it was already in progress.

And it starts with large Korean companies, not just American companies.

Oseong Construction was the first, and other major Korean construction companies followed suit.

Next came LC electronics, O-Sung electronics, and HY electronics.

HY Automobile was also in a situation that was difficult to leave out.

The report surprisingly also included an evaluation of future cars using Plims technology by HY Automobile, which acquired Oseong Motors.

This wasn’t just a technical issue.

“I will get up.”

“… … .”

Congressman John Smith hesitated. He wanted to grab Chairman Juliet Robertson and talk to her more. It wasn’t a matter of pride.

President Juliet Robertson left a comment.

“What we must do now is to secure the shares of Plims unconditionally. If necessary, we can even threaten them by mobilizing the US government!”

“… … .”

Congressman John Smith was about to say that our government should create its own next-generation communications standards, but then he fell silent when he read the table of contents of the report.

As Dr. Chris Amon said, time was not so great.

Any large corporation can just steal technology.

But the Plims technology couldn’t do that.

It was because of some of the Plims technology that Director Choi Min-hyeok revealed.

‘Are you saying that the Plims technology disclosure was a Trojan horse?’

It’s a ridiculous speculation, though.

That’s what happened as a result.

Congressman John Smith frantically called back to check with his telecommunications experts. Their answers were consistent.

[If we had 3 years, or even 2 years, we could do something about it. But now it’s too late. Even if we start over, Director Choi Min-hyeok will go one step further, no, ten steps further.]

“… … .”

Congressman John Smith gritted his teeth. Even so, he couldn’t just give up on America’s century-old telecommunications plan.

However, he couldn’t run around as blatantly as he was doing now.

Because you’ll be laughed at.

‘under.’

* * *

Director Choi Min-hyeok naturally checked the movements of US Congressman John Smith first, since he had leaked information.

“…It’s quiet?”

Team leader Jo Seong-don clicked his tongue.

“If you look at the story from KM Security, the hearing story has also been dropped. Congressman John Smith has also suddenly stopped his activities and is in hiding.”

“I guess you were really shocked?”

“It is not confirmed, but there are rumors that there were other external pressures.”

“Oh. Really?”

Director Choi Min-hyeok ended up laughing. It was only natural. There were no enemies or allies when it came to money. However, he was a bit worried about what would happen in the future.

‘They’ll probably resort to trickery to buy Plims shares.’

But he didn’t take it too seriously.

Because from the beginning, we were going to use Plims to fight against external forces.

He checked the movements of CEO Choi Du-jin in the following order.

The results exceeded his expectations.

Even Team Leader Jo Seong-don stuck out his tongue.

“I think you’re better at your job than I thought.”

“I heard he was famous in the past.”

“Are you talking about President Choi Du-jin?”

“He was originally a notorious loan shark in Myeongdong. Then he and my grandfather got along well and joined forces.”

At that time, KM Group was not a company with as much leeway as it is now.

Because it was a time when people were desperately trying to survive by targeting niche markets.

Chairman Choi Yong-wook believed that in order for mid-sized companies to survive, they must not compete with large corporations.