The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 234



Only Noblemtl

#234.

No matter how much they thought about it, no one knew Choi Min-hyeok’s true intentions.

Moreover, Chairman Choi Yong-wook, one of the parties involved, had no idea what Choi Min-hyeok wanted.

“Ha, no matter what, I just can’t understand this guy’s intentions.”

“… … .”

Director Jang Seung-il also belatedly deduced that Director Choi Min-hyeok had intentionally created this incident, but he could not bring himself to show it.

‘From now on, because of this incident, the Chairman will no longer be able to treat Director Choi carelessly.’

In the first place, I couldn’t even imagine that what they were worried about now was what Choi Min-hyuk wanted.

“What did Moonkyung say?”

“I don’t know the details yet. I think he’s out of his mind because of the recent sale of TRS shares.”

Chairman Choi Yong-wook, frustrated with the situation, finally got up.

“Tsk, call him. No, I have to go and handle this myself.”

“All right.”

* * *

When the story of selling the TRS business came out of the KM Group secretary’s office, no one believed it.

I guess that’s what happens.

If you review it, you may come across some bad stories.

The secretariat that manages dozens of affiliates is talking nonsense again.

However, the situation changed after Vice Chairman Choi Moon-kyung personally instructed that this matter be reviewed.

It was only after the Secretariat reviewed it that the real problems with the project became apparent.

To be precise, a proper business feasibility study was conducted at a time when profitability in the mobile phone business was rapidly increasing.

Choi Min-hyeok’s warning was right on target.

Since then, the atmosphere in the KM Group secretary’s office has changed completely.

Vice Chairman Choi Moon-kyung was already under pressure from his wife, Kim Yi-kyung, so he couldn’t take action. He eventually had no choice but to tell Kim Yi-kyung about this, but her response was absurd.

“Let’s wind up the TRS business immediately!”

Unlike men, women’s sensibilities really shined.

Thanks to this, Vice Chairman Choi Moon-kyung looked into selling TRS shares.

Naturally, he met with the Geotech staff and talked to them.

Of course, I didn’t say I was going to close down this business myself.

However, I have checked the current progress of the issues at Geotech one by one.

But the content wasn’t as simple as I thought.

“Starting with the supply of this high-speed railway wireless system, we will begin to fully attack the domestic TRS market. The timing is good because the Korean government is actively promoting the TRS service starting next year.”

Actually, the blueprint that Geotech drew up wasn’t bad.

The reason they joined hands with KM Group was as a preliminary step to conquer the Korean market.

The plan to attack the Southeast Asian market, including Japan, by highlighting the possibility of conquering Korea was not a bad one.

It even gained credibility through pilot testing in Israel.

But this is a blueprint from a narrow perspective.

Even if the Korean government had approved the service, the blueprint itself was a mess.

“What will Geotech do if this business folds?”

“No, you have to make sense. Do you know how much loss our company is incurring before you say such things?!”

Geotech’s extreme reaction exceeded expectations.

After seeing the situation unfolding, Chief Secretary Kwon Jae-hong concluded that it would be difficult to break the contract and went to the Vice Chairman’s office to just watch Vice Chairman Choi Moon-kyung’s expression.

Min Sang-soo, the 2nd team leader of the secretary’s office, who appeared in the vice president’s office because of this report, also rolled his eyes. The atmosphere felt in the working-level staff was worse than expected, but it was really bad.

If it becomes known through the media, it could have a huge impact on the group’s reputation in the future.

The real problem was that other companies would look at the establishment of joint ventures with suspicion in the future.

However, there is also the fact that the joint venture has already been established and the hiring of personnel has been completed.

Team Leader Min Sang-soo looked at Chief Secretary Kwon Jae-hong and gave him a look that suggested he wanted to get out of the situation.

In the end, Chief Secretary Kwon Jae-hong stepped forward.

“In fact, it is not only mid-sized companies. The sales of TRS switches, repeaters, and terminals developed by LC Information and Communications have not been going well.”

Vice Chairman Choi Moon-kyung, who was tormented by his wife Kim Yi-kyung and eldest daughter Choi Young-ran, was exhausted.

“I heard you’re shipping to China?”

“That was also a contract made at a loss. He sold all of his inventory for 800 million.”

“Only 800 million?”

“If the price is normal, it would be worth over 5 billion.”

“No, why LC?”

“… That’s because of the Oculus project that has been talked about recently.”

That’s right.

LC Information & Communication also belatedly saw the response to the Oculus project and quietly took the approach of cutting ties with the TRS business, which had an uncertain future.

They are even in the process of restructuring by completely eliminating the TRS division in which they have invested so far.

Director Min Sang-soo, who is aware of LC Information and Communication’s movements because of the common denominator of the TRS business, spoke cautiously.

“LC Information & Communications has already tentatively concluded that it will sell its TRS business to another mid-sized company. Small and medium-sized companies are not bad for TRS business because of their small market size.”

There is a TRS market, but it is limited to a certain area. Markets such as fire stations and police stations do not grow in size.

So, small and medium-sized businesses did not have to worry about large corporations interfering.

“You’re saying that it’s not right for us. There’s no way Geotech wouldn’t know that, so they’re going to take the risk and pay a penalty.”

“…yes.”

The TRS business reorganization hit a snag before it even started.

Vice Chairman Choi Moon-kyung, who had already been targeted by Chairman Choi Yong-wook, was not angry. He only thought of his nephew Choi Min-hyeok. If Choi Min-hyeok had not intended to screw him over, he would have told him in advance.

The problem is that Choi Min-hyeok brought up this issue only after the hiring of new employees was complete.

‘What a one-sided argument.’

“The loss is… … Ah, that’s enough. Just a moment. Manager Min, go out.”

Director Min Sang-soo quickly ran out of the vice president’s office without even answering.

Vice Chairman Choi Moon-kyung, who clicked his tongue at the sight, was so angry that he was no longer angry. Fortunately, he suddenly remembered that this kind of thing had happened repeatedly before, and that Choi Min-hyeok must have been involved behind it.

In the end, it was a repetition of the same thing.

“Is it Minhyuk’s doing?”

Vice Chairman Choi Moon-kyung, who had been monologuing, staggered due to the stress caused by this shitty situation.

Chief Secretary Kwon Jae-hong also gritted his teeth, feeling a sense of responsibility.

“…sorry.”

However, it is difficult to say that Choi Min-hyuk was behind this incident. We cannot blame Choi Min-hyuk for not expressing his opinion properly.

Moreover, at the time of reviewing the TRS project, it was not a bad plan. Even LC Information and Communication was investing in this project.

The difference is that LC Information & Communications only got a taste of it as a single division, while KM Group pushed ahead jointly through a joint venture.

In particular, in follow-up measures, LC Information & Communication minimized losses by neatly reorganizing the business and handing it over to small and medium-sized enterprises, while KM Group had a hard time doing so.

Vice Chairman Choi Moon-kyung, who was worried about the deposit issue, was about to get angry when someone burst through the door, but was startled and got up from his seat.

“Hey, I’m not letting anyone in… … . Hey, Dad?!”

As soon as Chairman Choi Yong-wook entered the vice-chairman’s office, he began to harass his eldest son.

“Did something happen again?”

“Oh, no.”

“Is the TRS business reorganization going well?”

“It’s not easy.”

Chairman Choi Yong-wook also sighed when he saw his eldest son still struggling with the TRS business. He was about to talk about the Oculus project, but decided to settle this issue first.

“By next week, you must settle the TRS business. No, at least formally negotiate with Geotech and get a handle on it!”

They want it sorted out by next week.

Are you saying that even after knowing the size of the Geotech joint venture?

Vice Chairman Choi Moon-kyung stared blankly at Chairman Choi Yong-wook and did not answer right away, but barely managed to speak.

“…All right.”

Chairman Choi Yong-wook clicked his tongue again when he saw his eldest son’s decaying complexion.

“If you just resolve this issue well, I won’t talk about the past anymore.”

“Oh, I understand.”

Vice Chairman Choi Moon-kyung’s expression only then improved. But then it changed again. Given the work Geotech was doing, it was only natural for them to be angry when the contract was broken.

‘I’ll do more?’

He ended up passing all the responsibility to Chief Secretary Kwon Jae-hong.

“Think about ways to minimize losses.”

“…All right.”

Chief Secretary Kwon Jae-hong had a lot to say, but after seeing Chairman Choi Yong-wook’s reaction, he couldn’t do it. The best thing to do now was to quickly wrap up the business.

‘The situation is so bad.’

* * *

Vice Chairman Choi Moon-kyung’s actions to reorganize the TRS business were quite different from before.

This is because it is the first instruction given since Chairman Choi Yong-wook’s last reprimand.

Vice Chairman Choi Moon-kyung believed that if she could just clean up this matter, she could gain Chairman Choi Yong-wook’s trust.

So I pushed things forward.

Because of this, the KM Group became chaotic.

Naturally, this fact reached Choi Min-hyeok’s ears as well.

Choi Min-hyeok, who had been toying around with the TRS business, was satisfied that things were going more fun than he had expected.

“What an interesting development.”

But on the other hand, he recalled that the conflict between ETRI and Osung Electronics was not resolved as intended. When they tried to work behind the scenes, the negotiations had already ended.

‘I took Director Kwon too lightly. I can’t just watch this happen.’

Team Leader Jo Seong-don was not comfortable with the KM Group headquarters being noisy because of Choi Min-hyeok. He also knew Choi Min-hyeok’s position, which was at odds with Vice Chairman Choi Moon-kyung.

“There are more employees who have been affected by this incident than I thought. If possible, I hope this business can be settled quietly.”

“That’s not necessarily true. If we go back and reorganize the business, we’ll have to lay off all the employees we hired for this business. But will they have a place to go?”

TRS business is completely different from other businesses. Some deputy-level employees may be able to move to similar companies because their careers are recognized, but it is different for general employees.

No, it would be better to move to another company rather than have your career recognized.

The situation was more ambiguous for employees who could not do so.

“… but that won’t happen.”

“Do you really think so? I heard that LC Information and Communications is in chaos too?”

He couldn’t bring himself to reveal that the Oculus project was the cause of that incident.

“Ha, but… … .”

“I understand how Team Leader Cho feels. However, as a manager, you should not take the wrong path. That is the path that is truly for the employees.”

“… … .”

Team Leader Jo Seong-don couldn’t answer Choi Min-hyeok’s words with complicated eyes. Choi Min-hyeok’s story is reasonable when viewed rationally.

There is no need to go anywhere else.

This is the case with KM Electronics now.

Thanks to Collins’s huge success, the salaries of KM Electronics executives and staff were higher than ever. There were many who got a fair share when they moved to Osung Electronics.

While reading the plan compiled by Team Leader Jo Seong-don, Choi Min-hyeok suddenly confirmed that KM Geotech had submitted a proposal for the wireless communication system supply rights for the Gyeongbu High-Speed ​​Railway.

“What is this? Are you sure you have already started a full-scale domestic business?”

“I understand that Geotech pushed for it. They will start it and KM Geotech personnel will receive it later.”

“Can we really give up on establishing a joint venture when the situation is like this?”

“… I don’t know about that either.”

However, even if Choi Min-hyeok didn’t have to look into the details, he could sense the situation going on. Geotech joined hands with KM in order to enter the domestic market in the first place. Even if they didn’t have KM’s manpower, they could just mobilize their own manpower for now.

But surprisingly, there were several more cases like this.

Choi Min-hyeok was already dissatisfied with the fact that the conflict between ETRI and O-Sung Electronics had become a flat soda. He thought that if things went well, it could be even more fun.

“I’m talking about Geotech. Do you happen to know anyone here?”

“… I’ve met Geotech a few times before.”

“That’s good. Team Leader Cho… … No. If Team Leader Cho steps forward and Director Jang Seung-il finds out, there’ll be chaos. Hmm, let’s do this. Deputy Manager, oh, that’s a bit much, oh, Manager Jeong Seong-geun would be good. Subtly tell Manager Jeong Seong-geun about the status of KM Group at Geotech.”