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The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 217

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  2. The 3th Generation of the Chaebol Wants to Live Quietly
  3. Chapter 217
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Only Noblemtl

#217.

“I understand that it may make money, but the risk is too high. But Director Lee Il-tae is in charge of decoder development. And that’s work that’s being done by outsourcing. So why are you talking about this and that for the new satellite service?”

“I think he thought that Director Choi Min-hyeok had a hand in that. To be exact, it was Professor Song Han-seong, a junior of Professor Lee Dong-ho, who did it, but I think he thought that Director Choi Min-hyeok was involved in that as well.”

He also knew about the relationship between Professor Lee Dong-ho, Professor Song Han-seong, and Choi Min-hyeok. However, he did not interpret it in an expanded way like Director Lee Il-tae.

“… Something seems a bit strange. How does Director Choi know about the satellite broadcasting system?”

“I think Director Lee Il-tae misunderstood. From what we found out in our planning office, it seems like there is a lot of commotion within ETRI due to this issue.”

“What are you talking about?”

This would have been difficult to understand in normal times, but ETRI was currently in the middle of a mud fight. Internal information was spread all over the place.

“We are still looking into it. We have only confirmed that there is a problem with Director Park Jae-ho, who led this work.”

“… … .”

Only then did Director Jang Seung-il check the situation and realize that Director Lee Il-tae had made a mistake. Even if it was a misunderstanding, it was hard to accept that the executives of the satellite business division went to the planning team and caused a commotion.

The problem is that Director Choi Min-hyeok blatantly disciplined Director Lee Il-tae for this incident. He dealt with it in just half a day as if he had expected something like this. He gave him a six-month salary cut and even made this fact known to the entire company, which was a bit too much.

Under the pretext of an internal notice, Director Lee Il-tae was told to leave the company. A normal person would have quit, but Director Lee Il-tae did not do that.

Because he came to me and pushed me.

If Director Jang Seung-il were an ordinary person, he would have provoked Chairman Choi Yong-wook with just this fact, but he never did that.

Rather, I was more curious about Choi Min-hyeok’s intentions.

‘Is this a warning about the Chairman’s interference a while ago?’

The problem is that this warning cannot be ignored.

Unlike others, Director Jang Seung-il knew better than anyone else the fearsome abilities that Director Choi Min-hyeok had displayed since joining the company.

Why else would he take confidential information from the company and consult with Director Choi Min-hyeok?

Director Jang Seung-il was so worried that he didn’t even want to look at this issue. Putting everything else aside, it was difficult to tolerate Director Lee Il-tae’s actions.

However, there was something he could not overlook: some information that came up while he was reviewing the Lee Il-tae case.

In particular, there was a report in which Director Choi Min-hyeok gave instructions regarding the satellite broadcasting system through Team Leader Jo Seong-don, and that was the problem.

“How did you get this information?”

Vice President Gu Gil-mo also sighed.

“Team Leader Jo Seong-don sent us the relevant documents to eliminate any possibility of misunderstanding, even though it is an internal matter. Here is a part of it.”

“okay?”

However, Director Jang Seung-il glanced at Vice-Chief Gu Gil-mo while looking at each document. Vice-Chief Gu Gil-mo also looked at this report seriously.

For the two, the issue was not Director Lee Il-tae, but the agenda of this report that was more serious.

‘The future of digital satellite broadcasting business and digital TRS business… … .’

* * *

Director Jang Seung-il also reported to Chairman Choi Yong-wook that this issue was related to Director Lee Il-tae.

However, Chairman Choi Yong-wook was more interested in the analysis of the TRS business and digital satellite broadcasting business added by Director Jang Seung-il rather than Director Lee Il-tae.

This is because the person who reviewed this report was none other than Director Choi Min-hyeok.

“We even created TRS Corporation, so why is this guy Minhyuk reviewing this business?”

“It’s not something we’ve reviewed now. I think it was reviewed separately a few months ago in relation to the telecommunications business. It seems to have been added recently, but it’s not outside the main line.”

Chairman Choi Yong-wook also recalled the KM electronic report that he is currently absorbed in.

“… Surely this isn’t a KM electronic report?”

“Some parts of that report are probably correct. It was dealt with naturally, especially when it mentioned the mobile telecommunications business.”

It was the implicit opinion of the Planning and Coordination Office that the KM electronic report that had been shaking up the Korean media for a while was already created by Director Choi Min-hyeok.

As the mobile communications business sector took off, fields that naturally came to mind were wireless data communications, transmission rate system (TRS), and call-only mobile phones (CT-2).

In this way, business through satellites is a field that has been naturally under review.

Digital satellite broadcasting services were no exception.

Especially with regard to channels, as the government imposed restrictions on large corporations, all mid-sized companies were eyeing it.

This is why KM Electronics has an STB division and a satellite division.

Chairman Choi Yong-wook also couldn’t understand why this document was becoming an issue only now.

“Wasn’t that something that was reviewed in the keynote speech room?”

“I did. However, as you can see in the document, there were many implicit contents. However, I also met with Director Choi and asked him some advice about the business we are conducting.”

“So, Minhyuk, that guy, knowing full well that we were investing in TRS, showed interest in the satellite broadcasting system without prior coordination?”

“That’s not it. To be exact, Professor Song Han-seong took the lead in this work.”

“Well, it would be difficult to say that Professor Song Han-seong did that alone.”

“… I’m not sure about that.”

Chairman Choi Yong-wook chuckled.

“Director Jang, this isn’t something you’ve been doing for a day or two, so don’t talk nonsense. The important thing right now isn’t Director Lee Il-tae’s problem. Why did that guy Min-hyeok get so involved in this matter?”

The disciplinary action against Lee Il-tae had already left Chairman Choi Yong-wook’s attention.

That is understandable, as a huge amount of money has already been invested in the 49% stake in the TRS Geotech KM joint venture, and additional investment costs are continuing to be incurred.

Even the establishment of the research center and the hiring of new personnel had already been completed.

If the company goes according to the report brought by Team Leader Jo Seong-don, all the money invested will be lost.

But at this time, Choi Min-hyeok is involved in a new satellite broadcasting system.

If you don’t pay attention, you’re a stranger manager.

“Then, the issue of Director Lee Il-tae… … .”

“It’s just a disciplinary action. Director Lee Il-tae didn’t do anything wrong, and the company is doing well. Then just leave it alone. That’s not important right now.”

“Okay, I understand.”

“Look, I’m not criticizing you, Director Jang, for investing in TRS Geotech KM. What’s important is the business performance. If that’s not the path, you can always change it.”

“I will keep that in mind. But if we reexamine this business now, Vice Chairman Choi Moon-kyung will not just sit by and do nothing. What are you going to do about that?”

“Explain it so that you understand. There’s also the issue of the new satellite broadcasting system, so it’d be better to decide as soon as possible.”

“…All right.”

Director Jang Seung-il was also somewhat relieved by Chairman Choi Yong-wook’s unexpected behavior. He was worried that he might be pushing things unilaterally because of his feelings toward Choi Min-hyeok, but Chairman Choi Yong-wook was cool-headed when it came to business.

‘Well, that’s what makes the Chairman great.’

* * *

The KM Group was in an uproar as the TRS business was suddenly re-examined.

Normally, Director Jang Seung-il would have handled it secretly, but the current situation was different. He intentionally made it so that this information would leak to Vice Chairman Choi Moon-kyung.

Vice Chairman Choi Moon-kyung, who had been keeping quiet because of Kim Yi-kyung, naturally did not stay still when he heard this news. He went into the Planning and Coordination Office meeting and yelled at Director Jang Seung-il.

“Hey, Director Jang, what on earth do you think of me that makes you do this?!”

The planning and coordination office staff were all at a loss and didn’t know what to do.

I never would have guessed that the vice president would come into the conference room and cause a ruckus.

But even they couldn’t treat Vice Chairman Choi Moon-kyung as a crazy person when they thought about the work they were currently reviewing.

The person in charge of establishing this new affiliate and managing its funds is Vice President Choi Moon-kyung.

Moreover, he did not do this on his own, but rather carried out the work under the direction of Chairman Choi Yong-wook.

And the one who ultimately conducted the review was the Planning and Coordination Office.

When Director Jang Seung-il gestured, everyone rushed out of the conference room.

“You’re not doing it too much, but it’s already done.

All kinds of curses ran wild.

Even Group Secretary Kwon Jae-hong, who came in after him, did not stop Vice Chairman Choi Moon-kyung.

“…I know.”

“What do you know? Does this make any sense to anyone with common sense?!”

“…sorry.”

Director Jang Seung-il apologized obediently. He too could not avoid responsibility for this incident.

“But even so, if it’s not the right path, then it’s right not to go.”

“Ha, wow, what kind of shitty cases are these?”

Vice Chairman Choi Moon-kyung looked at Chief Secretary Kwon Jae-hong and Team 2 Director Min Sang-soo, wondering if she was really angry.

Both of them agreed with Vice Chairman Choi Moon-kyung’s opinion. It was not simply an act to look good, but an attitude that this was really not right.

Director Jang Seung-il waited silently until they calmed down.

“Fuck you kid, this isn’t right.”

“I’m not saying I did a good job. But it’s just ridiculous to touch this business.”

“No, we haven’t even started yet, how can we review it again?”

“Are you thinking of transferring the employees you just hired to other affiliates?”

Vice Chairman Choi Moon-kyung’s anger continued without end.

But Director Jang Seung-il didn’t say a single word.

Vice Chairman Choi Moon-kyung also stuck out her tongue at the statue-like appearance and sat down across from the director.

“Okay. Let’s hear what they have to say. Why on earth are you doing this? If you have a grudge against me, shouldn’t you take it out on me? Why are you messing with a healthy business?”

“Because it’s not okay.”

“Hey! Oh, no. Tell me. I’ll listen first. But if there’s no basis for it, I’ll never let this go.”

“All right.”

But Director Jang Seung-il remained calm. He called Vice Director Gu Gil-mo from the conference room phone.

Vice President Gu Gil-mo quickly entered the conference room and began to explain the future of TRS Geotech KM.

“The most problematic aspect of our report is the assessment of the mobile business.”

Everyone knew that the mobile business was a goose that laid golden eggs.

However, the evaluation of the market is bound to differ depending on the company.

In particular, the ripple effects related to the mobile market have not been properly evaluated among domestic companies.

But the Jo Seong-don report was different. The mobile market listed in the report was valued at several times, if not dozens of times, that amount.

The problem is that the report was not just a document.

The ripple effects and subsequent trends were described, and it was clear that new communication services and technologies would replace it.

Accordingly, evaluations of GSM and CDMA naturally emerged.

Vice Chairman Choi Moon-kyung also remained silent. It was a simple forecast report, but there were many elements that were difficult to ignore. If the mobile market grows, corporate investment will increase.

Many things that are currently impossible to do due to technological limitations will inevitably be possible.

The Planning and Coordination Office’s evaluation of the TRS project also underestimated this aspect.

When I reviewed it based on Team Leader Jo Seong-don’s report, the TRS market was not a very good choice.

“The biggest problem is the government. As you can see in the satellite broadcasting system, they have completely excluded large corporations from the channels. The TRS business will proceed in a similar way, and mid-sized companies will mushroom. If that happens, our company’s lobbying will not be easy either.”

The TRS market is shrinking and if supply increases, profitability will decrease over time.

Thanks to that, a niche market was created, but the pie was too small for KM Group to eat.

“… … .”

Vice Chairman Choi Moon-kyung, who had been running wild like an angry bull, also shut his mouth at some point. He also couldn’t refute the report even if he wanted to.

It would have been best not to do the TRS business in the first place.

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