The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 235
Only Noblemtl
#235.
Team leader Jo Seong-don was greatly embarrassed by Choi Min-hyeok’s instructions.
“…Uh, what are you going to do?”
“What can we do? There is an old saying that the more you fight, the more you fan it. We can’t just sit back and let Geotech get stabbed in the back of the head, can we?”
“… Oh, I understand.”
Team Leader Jo Seong-do also thought about what Choi Min-hyeok said several times and tried to refute him, but he could not bring himself to say it to Choi Min-hyeok. This is because if this matter goes well, it could deal a huge blow to Vice Chairman Choi Moon-kyung.
However, I was uneasy because the internal conflict within the KM Group was now expanding externally.
‘Whew, this is really a big deal.’
* * *
Team leader Jo Seong-don quietly called in Deputy Jeong Seong-geun and secretly gave instructions.
It would have been a surprising thing for an ordinary employee, but Manager Jeong Seong-geun was indifferent.
He was quick-witted and quickly realized why Team Leader Jo Seong-don was secretly giving him instructions.
This is because, like other planning teams, he heard about what was happening within the KM Group surrounding the TRS business.
But, Manager Jeong Seong-geun knew his own abilities very well.
Moreover, I cannot receive any help from KM Electronics in this matter.
What Minhyuk Choi wanted was to not let the outside world know that KM Electronics, or more precisely Minhyuk Choi, was involved in the Geotech issue.
An ordinary employee would be flustered and seek advice here and there, but that wasn’t the case for Manager Jeong Seong-geun. He had already seen and learned a lot from his trip to Europe with Choi Min-hyeok.
I even had connections.
He immediately contacted director Jamie Nicholas, who had settled in Korea.
Fortunately, Director Jamie Nicholas remembered Deputy Manager Jeong Seong-geun, who could speak several foreign languages.
“What’s going on all of a sudden?”
“I have a favor to ask.”
“Okay, go ahead.”
Deputy Director Jeong Seong-geun did not necessarily talk about Choi Min-hyeok. Instead, he talked about the internal situation of the KM Group while subtly mentioning the KM Geotech story.
“… So, it is said that KM Group is preparing to fold its TRS business.”
Director Jamie Nicholas also tilted his head at first because he didn’t understand English.
Deputy Jeong Seong-geun also noticed that point.
“I thought it was too cowardly. Geotech is doing its best, but I think it’s a bit much to suddenly and unilaterally close down the business.”
Even director Jamie Nicholas was initially confused and tilted his head as to who was worrying about whom.
“…okay.”
Director Jamie Nicholas stared blankly at Deputy Jeong Seong-geun for a moment.
However, Manager Jeong Seong-geun said what he wanted to say and kept his mouth shut.
‘What on earth do you want?’
Even Deputy Jeong Seong-geun couldn’t show it.
The silence between the two lasted longer than expected.
However, Director Jamie Nicholas, who had already thought about the MP3 negotiations, belatedly figured out the situation to some extent. He also learned through Korean articles that Choi Min-hyeok was making a lot of noise about the KM Group’s succession structure.
The fact that he brought up internal affairs of the KM Group to himself only had one meaning.
‘Are you asking me to interrupt?’
However, it was strange why Director Choi Min-hyeok did not come forward himself, but rather why a deputy-level official came to see him. And he omitted all direct information.
But if you think about this a little, the answer will come out.
Because Director Choi Min-hyeok cannot do something like hitting the back of the head of KM Group.
This is not a question of believing or not believing.
If Director Jamie Nicholas himself had received a specific proposal, he could have easily used that as an excuse to gain vested interests from Choi Min-hyuk.
He ended up laughing at the sight of Deputy Jeong Seong-geun staring at him blankly with his mouth tightly shut.
“Hahaha. Okay. I’ll check with Geotech. I’ve met with them before for a few patents.”
“I don’t know about that part.”
“Yes, that’s right. Because Manager Jeong didn’t say anything like that.”
“Then I’ll take my leave.”
He ended up chuckling as he recalled his memories of the negotiations with Director Choi Min-hyeok.
‘What a wonderful friend.’
* * *
Director Jamie Nicholas met with Geotech Director Yaron Maytan, who is in Korea, at a hotel in Seoul.
The two people are not close friends, having only met briefly in the past and met a few times for business.
“Oh, you’re Director Jamie. Nice to meet you.”
Director Yaron Maytan also welcomed Director Jamie Nicholas warmly on the outside, but he felt different on the inside. He couldn’t figure out why the figure of Sisbel suddenly appeared here.
“Is Sizbel interested in our technology?”
“The world is bound to change. We can’t just ignore the hot geotech technology these days.”
Geotech, a US company, is preparing to go public on NASDAQ with its own technology called FHMA. The company has completed commercial equipment testing in Israel.
In particular, we are more confident than ever with the implementation of next-generation antennas and GPS functions.
They were proactive, even submitting proposals for the domestic highway communication system, emphasizing their technological superiority over Motorola.
In fact, even if you look at competitors such as Osung Electronics, Ericsson, and Motorola, their appearance was not bad.
Geotech is really doing its best.
Director Yaron Maytan’s expression was also related to Geotech’s recent actions.
“We have even established a joint venture with the KM Group. After we have conquered the Korean market, we will expand our operations throughout Asia.”
Despite the boasting, director Jamie Nicholas’ expression did not change.
“Actually, we at Sizbell also did some research on Geotech. The FHMA technology was really impressive. But KM Group seemed to have a different opinion.”
“Huh? What do you mean?”
“Didn’t you know that they are considering withdrawing from the TRS business?”
“That’s nonsense. HY Electronics is also talking about supplying our company with a system. Does that make sense? Why is KM Group giving up this business?”
Actually, it wasn’t a wrong story.
TRS service is scheduled to be commercialized by national and regional operators next year.
Since the test equipment setup was already complete, there were no problems with the progress of the work.
The market potential is not bad, with TRS subscribers expected to exceed 500,000 in a few years.
The target that Geotech is specifically targeting is Korean logistics companies.
That is why we submitted a proposal for the highway system project.
Director Jamie Nicholas also tilted his head for a moment. He had also received implicit instructions from Deputy Director Jeong Seong-geun, but he did not fully understand the situation.
‘The TRS business itself is quite ambiguous. But it is by no means a ruined business. Is there anything else I don’t know about?’
As soon as I recalled the face of Choi Min-hyeok, who I had met and negotiated with in Italy in the past, my doubts were quickly shaken off.
Choi Min-hyeok, who uses such clever tricks.
If you look at it now, it was an extension of that.
‘I can’t do this unless there’s something I don’t know about.’
“That’s right. I want to know that too. But wouldn’t it be better to be careful? The KM Group must have some basis for their actions.”
“Are you serious?”
“Why would I come here with information that I’m not sure of? If you need me, I’d like to help you with this.”
“…I will contact you later.”
“I will wait for your contact.”
Director Jamie Nicholas quietly left without saying anything.
Director Yaron Maytan was upset by Director Jamie Nicholas’s behavior. He thought back to the behavior of Sisbel during their last meeting. Sisbel was a hunting dog who would always go to places where next-generation technology was available.
However, the reason why it is not easy to shake off the Sizbel is because of conflicts of interest.
‘That kid.’
* * *
Director Yaron Maytan also looked into the KM Group’s situation, even though he was skeptical. As expected, there were several strange things.
Even though the TRS Geotech KM headquarters building had already been built, they did not make any progress on the work. They even just left the newly hired staff alone.
Because the incident was so quietly carried out, even Director Yaron Maytan found out about the facts only after confirming it belatedly.
And there was no need to go one step further.
Through internal KM Group news channels, I learned that the company was indeed moving towards business reorganization.
Yaron Maytan, the CEO, was shaking with betrayal. It seemed like Geotech was taking over the domestic market by creating a market for it.
You worked so hard to build that foundation, and now you’re preparing to hit me in the back of the head.
He immediately reported this to the US headquarters.
And the proposal of Director Jamie Nicholas. Naturally, Geotech headquarters also agreed with the idea of putting Director Jamie Nicholas forward.
Geotech also felt burdened to handle this matter directly.
In that case, I thought it wouldn’t be a bad idea to mobilize a hunting dog called Sizbell.
Director Jamie Nicholas stormed into KM Group shortly after finalizing the contract with Director Yaron Maytan to question the delay in establishing the Geotech KM joint venture.
During that process, he was so scared that he threatened to sue when he heard that KM Group was reconsidering the business.
“Oh, you guys are really making fun of contracts. But we will never let the damage Geotech has suffered because of this incident go unnoticed. We will immediately file a lawsuit in the US court for $700 million in damages, so brace yourself!”
“… … ?!”
Secretary Kwon Jae-hong was greatly embarrassed by the sudden bolt from the blue. However, by the time he was about to say something, Director Jamie Nicholas had already left.
* * *
There was an uproar at the KM Group over Geotech’s sudden change in attitude.
When Vice Chairman Choi Moon-kyung was at a loss as to how to solve the problem, she bowed her head when she saw Chairman Choi Yong-wook return to her.
“That’s… … . Phew, Geotech is threatening to sue us in a US court, so the answer is not easy.”
Chairman Choi Yong-wook, who did not know the details, was one-sided.
“Even if you suffer a loss, just quickly wind up the TRS business.”
“Building and new hires are also issues.”
“Let’s go with another alternative.”
Director Jang Seung-il, who followed in, quietly passed the business plan for the Oculus project to Vice President Choi Moon-kyung.
Vice Chairman Choi Moon-kyung looked at Director Jang Seung-il with an angry face before looking at the report. Naturally, he soon fell silent.
He was naturally briefed on this digital satellite business because of the TRS business review. But he was very confused because that report and the current report were so different.
What is particularly surprising is that the Ministry of Science and ICT is actively pursuing business as if it were a private company.
‘what’s this?’
If Chairman Choi Yong-wook had not been here, he would have grabbed Director Jang Seung-il by the collar and made a fuss, but he could not do so because he was conscious of his father’s cold gaze.
Chairman Choi Yong-wook did not dare to mention that Choi Min-hyeok might be behind this. Chairman Kim Sang-goo’s large-scale investment proposal still lingered in his mind.
“What do you think, Vice President?”
“… This is incorrect information. From what I have found out, this satellite business was not at this level.”
“It used to be like that. It’s different now.”
“Huh? That can’t be. Furthermore, what kind of people are the Ministry of Information and Communications that they can make progress so quickly? No, are you saying that Oh Sung Electronics is just sitting there sucking its thumb?”
Chairman Choi Yong-wook also clicked his tongue at his eldest son’s words that information was too slow. He also knew very well that Vice Chairman Choi Moon-kyung’s behavior was due to the Geotech problem.
So, I didn’t pressure Vice President Choi Moon-kyung any more.
“Even the great Oh Sung Electronics has now given in to ETRI. They have withdrawn while enduring losses. The Ministry of Information and Communication will probably take that into consideration and take care of Oh Sung Electronics.”
“Seo, are you saying that the agreement has already been reached?”
Chairman Choi Yong-wook did not mention Chairman Kim Sang-goo’s investment proposal from the last meeting. If he had mentioned it now, it was obvious that his son, who had been relatively quiet, would cause trouble again.
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