The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 204



Only Noblemtl

#204.

Vice President Cho Chang-ho also grumbled while grilling meat.

“These days, young people like the codes they like, so they can’t help but get used to MP3 files faster. The MP3 industry will probably develop rapidly enough to establish itself as a cultural phenomenon.”

“… … .”

Even though Manager Choi Gu-man had already heard the story once during the meeting, he listened attentively. As time went by, he realized the weight of the MP3 industry more and more.

Team leader Choi Byeong-yeon put a period.

“Illegal MP3 files will probably increase exponentially and become a social phenomenon. If that happens, how big will the MP3 market become? The total size of the domestic music industry alone is about 350 billion, so it’s hard to even imagine the global market.”

“… That’s great. But that makes me incomprehensible. Isn’t it too weak a link to Collins as a completely new business?”

“The two products are completely different. So now we know why Director Choi insisted on putting you in the MP3 project.”

He also confessed the vague anxiety he had been feeling until now.

“Are you saying that you’re going to fold the TV business… or rather, sell it?”

“That’s highly likely. The fact that we continue to assign RF design work to Manager Yoon is proof of that.”

“Oh, that’s ridiculous!”

“No, that makes sense. Hmm, I think it’s easier to explain it this way. I was bullied a lot after I moved from our company to Oseong Electronics, but I also learned a lot. One of them is that an industry that falls behind the times will eventually collapse. Oseong Electronics is a sword in this regard.”

“Ha, but analog TV still has a large market.”

“That’s right. For now. But even if the next generation of CRT TVs, such as LCD TVs, become commercialized, will CRT TVs still be able to survive?”

“but…….”

“Think about it carefully. This is also the case with Director Lee Il-tae. The essence of this satellite business is ultimately connected to digital TV. It will occupy a part of the new market. Oh Sung Electronics is rushing into it. In the end, analog TV will inevitably disappear into the back alleys of the times.”

“Even so, isn’t that in the distant future? Moreover, new technologies will emerge.”

“The limit is 2~3 years. At most, 4~5 years. What happens after that? Factory production engineers end up developing another product. But what are you going to do in the future?”

“… Aren’t you getting ahead of yourself?”

“I’m sure. In four or five years, you won’t have a place to stand. So, if I were the CEO, what should I give you for your Collins Merit? Money isn’t everything. Shouldn’t I give you a way to survive by learning new technologies? That’s what you’re doing now, power chip design.”

“… … .”

Manager Choi Gu-man was so shocked that he couldn’t open his mouth for a while, and Manager Yoon Seon-gi also put down his glass of soju and kept his mouth shut.

If someone else had said it, I would have criticized them, but I couldn’t because it was Team Leader Choi Byeong-yeon who said it.

Those sitting together were also busy thinking about the serious atmosphere.

Manager Choi Gu-man realized that he would be able to work at the company without any problems until he was in his fifties, especially if MP3s became a huge hit.

After moving, he was promoted to executive director.

On the one hand, I was appalled at the sight of Director Choi Min-hyeok, who had drawn up such a grand plan.

Only then did Team Leader Choi Byeong-yeon raise his glass.

“Let’s have a toast. Don’t overthink it. Just say “Okay” when Director Choi tells you to do something and do what he tells you to do. All we have to do is make the products we’re told to do well. For the future of KM Electronics!”

“For the future!”

Manager Choi Gu-man was also able to shake off the anxiety that had been bothering him while drinking a glass of soju. However, he also looked closely at Team Leader Choi Byeong-yeon.

Team Leader Choi Byeong-yeon did not seem particularly flustered when he said that the TV division could be sold. Rather, he seemed to welcome the sale of the TV division.

It was a difficult thing to accept, considering that he was the one who created Collins.

‘Team Leader Choi has definitely changed a lot.’

And I thought about Director Choi Min-hyeok again. I was just amazed at how he was planning to sell off his successful TV division.

‘… He is truly an amazing person.’

However, he also remembered that Team Leader Choi Byeong-yeon had been at Osung Electronics.

“But isn’t this something that Osung Electronics will tackle later? Even if it’s not related to Osung Electronics products, isn’t it still an internal technology?”

“Don’t worry about useless stuff. You have more to worry about than just MP3s. And check the list of patents again. Is it KM Electronics or some other company?”

“Oh, it was a patent from a European company including Germany.”

“Yeah. So, don’t worry about that. Besides, the satellite business issue isn’t over yet.”

“but.”

Manager Choi Gu-man also belatedly recalled the incident involving Director Lee Il-tae. There was too much talk within the company to know the truth, but thinking back now, he realized that it was also related to MP3.

Moreover, the conflict between ETRI and Osung Electronics was something that most KM Electronics executives and employees were concerned about.

‘You’re saying that you’re harassing Director Lee Il-tae and inciting conflict with Oseong Electronics because of MP3? No, you can’t. That’s ridiculous.’

* * *

Unlike the MP3 team, the other teams were shocked to see the MP3 PT in this meeting. Most of the staff members kept their mouths shut, keeping in mind Choi Min-hyeok’s warning.

Most managers realized through this incident that they didn’t need to worry much about the future.

However, everyone was skeptical about how much of an impact the new electronic device would have.

Choi Min-hyeok was quite satisfied with the confirmation that no information related to MP3s was leaked.

He was about to begin the finalization of ETRI’s work to remove Director Lee Il-tae when he suddenly noticed that Director Jang Seung-il’s actions were somewhat different from the past.

Was there really a need for Director Jang Seung-il to meet Lee Il-tae?

In some ways, it could have had a different meaning.

‘It doesn’t seem like you’re really trying to restrain me. Did something happen?’

Just in case, I called Team Leader Jo Seong-don and talked to him.

“… I’m not sure. I heard it from an acquaintance in the group, but I think it might be because of money.”

“Money? Why money all of a sudden?”

“The value of KM Electronics that the chairman gave to the director at the time was only a few hundred billion won. If you include the management rights, it may have exceeded hundreds of billion won, but that was the value at the time. If it’s that much money, it’s not a problem.”

“It must be different now.”

“Yes. However, the value of KM Electronics, which has now surpassed 90,000 won per share, is on a different level than it was then. It has increased by a whopping 50 times. If you add up the value of the stocks transferred in the first and second rounds, it easily exceeds 1 trillion won.”

1 trillion.

Choi Min-hyeok didn’t care about the stock value, but when he actually calculated the money, it was quite a large sum.

“… Well, that’s a bit much.”

“Isn’t it true that seeing is believing? Furthermore, after the chairman took office, he attended every meeting including the Federation of Korean Industries without fail. He would have something to say to everyone he met. Since the chairman is not an adult, wouldn’t he be shaken?”

Of course, Chairman Choi Yong-wook will not say that he will get his shares back. However, if he is hurt, he may act a little differently than in the past.

“hmm.”

Choi Min-hyeok also laughed bitterly when he thought about the value of his stake that was beyond imagination. He didn’t even care about such stakes.

It wasn’t a good thing that even his grandfather, who had supported him until now, was now becoming greedy.

He looked at Team Leader Jo Seong-don and Manager Kim Myeong-jun and fell into thought.

‘If my grandfather is adamantly opposed to selling the TV division after the launch of the MP3, I have no choice but to fight. But it would be difficult to confront my grandfather at this point.’

In the end, I changed my plans a bit.

“I don’t think we can rush the ETRI work. I think we need to check first. Please check Grandfather’s route.”

“All right.”

* * *

Choi Min-hyeok’s worries never ended as mere thoughts.

The first to take advantage of this was Kim Yeo-jeong, who was furious because of Executive Director Choi Hoon-yeol who was in prison. She went to see her father, DL Group Chairman Kim Sang-goo, and cried while telling him about her husband, Executive Director Choi Hoon-yeol, who was in prison.

Chairman Kim Sang-goo was also very angry because of KM Electronics’ Choi Min-hyeok, so he ridiculed Chairman Choi Yong-wook at the Federation of Korean Industries meeting.

[I can’t hand over a billion-dollar stake to my old children. But I can’t believe I’m handing over an astronomical amount of money to my young grandson!]

Other CEOs of large corporations who attended the FKI also sided with Chairman Kim Sang-koo, perhaps because they were sick of it. They repeated similar stories like parrots.

[Chairman Choi, you are truly amazing. I can’t do that to my own children, let alone give hundreds of billions of won worth of shares to my grandchildren.]

This isn’t something that just one or two people said, it’s something that everyone I meet said.

Because everyone had a stomachache.

KM Electronics’ stock price has gone up too much.

But even now, KM Electronics’ stock price continues to rise.

In particular, foreigners bought KM Electronics stocks like crazy when the market entered a correction phase.

No one yet knew the exact cause.

There may be some who were fooled by the incitement, but the members of the Federation of Korean Industries did not understand Chairman Choi Yong-wook based on common sense.

Vice Chairman Choi Moon-kyung’s wife, Kim Yi-kyung, eventually gave in to Choi Young-ran’s temper and quietly visited Chairman Choi Yong-wook at an exquisite time.

Of course, she didn’t say anything stupid to provoke Chairman Choi Yong-wook.

There was no need to do that.

Because you can just say it subtly.

“Father, I won’t say that I’m sorry for not leaving my fortune to Yeong-ran. But isn’t it too one-sided for Min-hyeok? The value of the shares donated is too great. Based on the current KM stock price, it’s worth over 1 trillion.”

Common sense story.

That would have been enough.

Chairman Choi Yong-wook, unlike usual, called in Director Jang Seung-il and personally took care of matters regarding Director Lee Il-tae.

“Director Lee Il-tae, did your work go well?”

“Yes. Director Choi is also not touching Director Lee Il-tae.”

“Is that so?”

Chairman Choi Yong-wook was silent for a moment.

He also felt uncomfortable when he had to talk about the property he had donated. However, he had to mention this at least once.

“Director Jang, what do you think? I gave Min-hyeok shares of KM Electronics.”

“… … .”

Director Jang Seung-il kept his mouth shut, thinking that what was coming had come. He too was worried that Chairman Choi Yong-wook was paying more attention to Director Lee Il-tae than usual.

Even if Chairman Choi Yong-wook trusts his grandson, it was a whopping 1 trillion won. It is not common sense to give away such a large sum of money already.

Of course, it was an achievement made by Choi Min-hyeok through innovation at KM Electronics, but that does not explain the 1 trillion donation.

Chairman Choi Yong-wook also sighed with a complicated expression.

“I’m so old now. I can’t believe I’m worrying about things like this.”

Chairman Choi Yong-wook, who is suffering from self-destructive feelings.

He knew that this was not right, but the human mind is not always as it should be.

“… … .”

Director Jang Seung-il still did not respond. He also thought that Kim Yi-kyung would never stay still after the Choi Young-ran incident.

I never thought that they would use their maternal family to provoke Chairman Choi Yong-wook.

But I couldn’t tell that fact.

Chairman Choi Yong-wook, who obviously knows the inside story, could have been hurt by this and viewed Choi Min-hyeok negatively.

“Yeah. It’s not good to listen to outsiders too much. But what they say isn’t without merit. Even if you look at Yeong-ran’s case, there’s discrimination compared to Min-hyeok.”

“The Planning and Coordination Office will do its best to assist Director Choi Young-ran with battlefield chip-related projects.”

“Yeah. But I think Minhyuk has been acting too harshly lately. Maybe it’s because he’s at an age where his blood boils, but he just does things without thinking about the consequences. That guy Choi Dujin seems to be worried about his son, so please take care of that too.”

“All right.”

Director Jang Seung-il couldn’t help but feel complicated as he stepped down. He felt that the issue of Director Lee Il-tae was flowing more subtly than he had thought.