The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 228



Only Noblemtl

#228.

There is talk that the cumulative quantity has already exceeded 100,000 units as Collins is additionally supplied to Europe. Collins’ sales have exceeded a whopping 400 billion won.

Including the 300 billion won in sales from the audio business division and other products, sales have already exceeded 700 billion won.

Until last year, the company was on the verge of bankruptcy with sales of only 300 billion won, but in just half a year, its sales more than doubled.

Most securities firms unanimously agree that KM Electronics’ projected sales this year will easily exceed 1 trillion won.

However, Lee Seok-woo, the head of the satellite business division who did not receive the incentive bomb due to KM Electronics’ growth, was gloomy unlike usual. He took Manager Heo Hoon, who was giving him an uncomfortable look, to the break room and vented his grievances.

“Incentives aren’t the problem.”

“Yes? Is there another problem?”

“ETRI has finally informed us that they will change the project to Oculus. Then our business unit will have to start over from scratch, and that’s the problem. We haven’t done anything so far.”

“… … .”

Manager Heo Hoon also had a stern expression on his face and couldn’t answer any further.

I thought I could get over the last hurdle by negotiating with Director Lee Chang-myeong, but that was no longer of any use.

At the moment, even Oseong Electronics was in a situation where it could not avoid losses.

“Director Lee Il-tae did his best to get us this far, but now even if he is the chairman, there is nothing he can do to save us.”

Manager Lee Seok-woo called Choi Min-soo, who appeared alone in the break room following Manager Heo Hoon.

Choi Min-soo’s complexion wasn’t good either. He had a hard time trying to ignore the harsh stares from the Satellite Business Division executives and staff.

Vice President Lee Seok-woo, in a way, had hoped for the last hope from Choi Min-soo, a third-generation chaebol.

“I know it’s a bit weird to say this, but have you heard anything, Minsu?”

“Huh? … I don’t know.”

“Tsk.”

He clicked his tongue and glanced at Choi Min-soo for a moment. If Executive Director Choi Hoon-yeol had inherited KM Electronics, Choi Min-soo would have been a manager by now. He might have been promoted to a managerial position and wielded influence.

But now, I was worried that I might get kicked out of the company along with the satellite division.

“Why don’t you talk to HR right now and ask to move to another team? Unlike other people, you will be able to move around.”

“well.”

Min-su Choi, who was insecure, knew that his mother, Yeo-jeong Kim, was doing her best by mobilizing her maternal family. All he had to do was hold out in the satellite business division as long as possible.

Moreover, it seemed unlikely that Director Choi Min-hyeok would allow the transfer.

“This division is already finished. Now, no matter who comes, there is no alternative. Director Lee Il-tae will take responsibility, but even those above the level of section chief or team leader cannot avoid the tsunami of this incident.”

Although he spoke in a calm voice, Director Lee Seok-woo’s feelings were burning. It was difficult to complain to anyone. He also could not stop Director Lee Il-tae’s arbitrary decisions.

Thinking back now, he himself trusted Director Lee Il-tae and protected him without fail.

“Well, Minsu’s maternal side is also a strong person, so there’s no use in me saying this. It’s just better to prepare well for the future.”

This wasn’t just about Choi Min-soo.

In fact, it was a statement made to the remaining employees in the satellite business division, and it was meant to be heard by the 20 employees who are currently remaining.

The other executives and employees of the Satellite Business Division who had come up to the break room to eavesdrop on the actions of Manager Heo Hoon and Manager Lee Seok-woo were also depressed by Manager Lee Seok-woo’s story.

They were in a panic and didn’t know what to do, and some of them couldn’t stand the atmosphere so they gathered in groups of three or four and left the break room.

They also didn’t particularly blame Director Lee Seok-woo. They knew very well that he had done nothing wrong.

The fact that I’m already interviewing at other companies is proof of that.

Min-su Choi felt a new sense of dread at Min-hyeok Choi as he watched the satellite business division collapse without any protest. He realized belatedly why his father, Executive Director Hoon-yeol Choi, and Managing Director Hyun-woo Kim had collapsed like that.

‘They’re not openly restructuring. They’re just forcing people to quit the company on their own. My father would have done the same, and Managing Director Kim Hyeon-woo would have done the same. It’s really scary.’

* * *

The story of incentives spread throughout KM Electronics over time.

Since most of the employees received it, they talked about who received the most.

Naturally, the people who received the most were those involved in the development of Collins.

In particular, it was widely reported that Manager Choi Gu-man, the hero of Collins’ development, received over 500 million won.

[How much did Manager Choi get paid?]

[There are even rumors that it’s worth over 1 billion. The Collins Development Research Team has hit the jackpot.]

[It’s not just incentives. I recently saw that they are also designing analog chips separately. The company is pushing for that too.]

[Did Manager Choi Gu-man also design analog chips?]

[He said he didn’t know anything about it when he was in college. He said he only delved into TV power supply when he came to the company. He was an expert in TV power supply, but the company unilaterally pushed him to gain experience in chip design. He said he lost hundreds of millions because of this, and he even published a paper on it this time.]

[… The company isn’t a graduate school, isn’t that too much?]

[Well, you can’t necessarily see it that way. He was the one who doggedly stuck with Collins and contributed greatly. He was the one who stayed behind and held on even after Team Leader Choi Byeong-yeon left, so he deserves to be treated accordingly.]

[If you look at it that way, it seems like Director Choi Min-hyeok is very thorough when it comes to rewarding performance.]

There weren’t many people who were jealous.

Most of the stories are about the person who received it.

Of course, there was also talk of whips.

[The punishment is as strict as the compensation. There is no incentive for the satellite division, and there is only talk of selling the division!]

[Then what about Director Lee Il-tae? There hasn’t been any news that he quit the company yet?]

[Director Choi is also aware of his employees’ feelings, so he can’t forcibly cut them off. But it’ll be hard to hold out any longer. There’s talk that the satellite receiver will have to be redeveloped after the transition to the Oculus project. Will the company allow that?]

[It’s finished.]

Now, even KM Electronics executives and employees do not find Director Lee Il-tae’s resignation strange.

In Min-su Choi’s case, unlike other executives, he was afraid of Director Min-hyeok Choi. He went to see General Manager Hyun-tak Kim and told him the story of KM Electronics.

“KM Electronics is in chaos right now because of incentives.”

“…Collins’ cumulative sales alone exceeded 400 billion, so they should give us that much.”

Chief Kim Hyeon-tak also spoke generously on the outside, but his thoughts were somewhat different.

He was currently lobbying in various ways to get the Oculus project. However, it was not easy to meet with Professor Lee Dong-ho or Professor Song Han-seong.

In the end, I was looking into KM Electronics because I wanted to use Director Choi Min-hyeok, but I couldn’t find a suitable method.

However, Oseong Electronics was still negotiating with ETRI under the pretext of a lawsuit.

Since he was in a situation where he couldn’t get in there, Chief Kim Hyeon-tak didn’t know what to do.

While he was whining like a skinny puppy, that guy Choi Min-hyeok was throwing money away at KM Electronics.

So how frustrating would that be?

That was also the case for DL ​​Information and Communications. Last week, we established an information and communication education center and invited 150 people from the information and communication industry.

The opening ceremony itself was splendid.

There were only rosy expectations about short-range communication networks and security systems.

In fact, astronomical investments are being made at the DL Group level, but the chronic deficit has resulted in significant losses.

Vice President Kim Hee-chan, the father, also kept stumbling over this issue.

In the end, I started various new projects to show something, but most of them ended up being blown.

He knew, thanks to him, how great a hit Collins was.

Of course, I couldn’t tell Choi Min-soo my true feelings.

Choi Min-soo, who didn’t know that, shook his head while conveying the atmosphere of the satellite business division.

“Minhyuk, that guy, it seems like he just does things haphazardly, but things work out well. I can’t believe it even when I watch him. I don’t know if that kid has great ability or if he’s just lucky.”

Chief Kim Hyeon-tak ended up laughing at the voice full of complaints.

“Collins hit the jackpot, but whether the next item will be like that is a different matter. By the way, there is a story that Director Choi got involved in the Oculus project. Do you have any information about that?”

“Even the planning department didn’t seem to know much about it. Even when I occasionally hear stories about it, it’s just a rumor.”

“okay?”

Min-soo Choi’s story was disappointing, but his eyes were not as cloudy as they used to be. Min-soo Choi also learned a lot from being under Min-hyuk Choi.

Kim Hyun-tak, the head of the headquarters, was troubled. Judging from what Osung Electronics had been doing recently, it seemed unlikely that they would give up on the Oculus project easily.

‘I’m saying that it’s unlikely that Oh Sung Electronics will sue ETRI. But I don’t think this issue will be resolved easily. Something will definitely happen.’

But the problem is Director Choi Min-hyeok’s actions. It was strangely quiet. All he was doing was an incentive party.

“Minsu, the satellite division is not important. Even if that division disappears, the internal situation of KM Electronics is more important. So never give up and keep a close eye on KM Electronics. In particular, don’t miss Director Choi’s moves.”

“All right.”

“And if necessary, I’ll make room for you in DL Information & Communications. Don’t worry too much.”

“Thank you.”

Choi Min-soo bowed his head to Chief Kim Hyeon-tak. Unlike the others, he was from his maternal side, so he was more trustworthy.

‘The opportunity will definitely come.’

* * *

As Director Kim Hyeon-tak thought, the conflict between ETRI and Osung Electronics was not easily resolved.

Team leader Jo Seong-don also belatedly realized this situation and reported it to Choi Min-hyeok.

“We haven’t filed a formal lawsuit yet. However, I think they are demanding compensation for the huge losses suffered by Oseong Electronics.”

“It’s a loss… … It’s definitely a big loss.”

Choi Min-hyuk knew it too, of course. However, it was less impactful than he had planned, which made him lick his lips. Even though not everything goes as planned, this was too bland.

‘It would be better to have a big fight, but the government has a lot of things piling up, so it would be better to use this opportunity to swing the sword of the National Tax Service’s special tax investigation.’

“Are there any other unusual issues within Oseong Electronics?”

“Huh? What are you talking about?”

“We are in a situation where we have to develop a new satellite receiver, so would the person in charge just say that it is his responsibility? He would fiercely criticize Director Lee Chang-myeong.”

“I’m not sure about that.”

“So, you only figured out external issues?”

“What stands out right now is the lawsuit between Oseong Electronics and ETRI.”

“If we leave it like this, it will just get passed over.”

“yes?”

“They are both foolish. If they confront each other, the Ministry of Information and Communication will also be criticized by public opinion and it will be burdensome. Oh Sung Electronics also has a lot of sins to commit, so they will not want to make a fuss by picking on them.”

‘Then it’s difficult. If Oseong Electronics takes control, DL Information and Communications Director Kim Hyeon-tak can also get out.’

That’s right.

The big picture that Choi Min-hyeok drew from the beginning is the confrontation and conflict between Oseong Electronics and DL Information and Communication. It is to further incite them to their own interests and prevent them from turning their attention towards KM Electronics.

In addition, the plan was to drag Vice Chairman Choi Moon-kyung into this mud fight to prevent her from doing anything else.

But if we left it like this, it was obvious that the four would find a suitable compromise.

“We can’t leave it like this!”

“yes?”

“Oh, what I mean is, haven’t we been through a lot with Oseong Electronics? We can’t just sit back and watch when this is a good opportunity.”

Team Leader Jo Seong-don also noticed Choi Min-hyeok’s expression and brought up one thing.

“There is already a rumor that Chairman Ahn Geon-min’s eldest son, Ahn Jae-woon, is looking into this matter.”

“Ahn Jae-woon? Are you talking about Ahn Jae-woon, the crown prince of the Oseong Group?”

“Yes. It’s not certain, but according to Team Leader Choi Byeong-yeon, there are rumors circulating within Oseong Electronics.”

“That’s strange.”

“I’m not sure.”