The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 236



Only Noblemtl

#236.

Vice Chairman Choi Moon-kyung, who had lost his mind after being fooled by Choi Min-hyeok’s tricks, was in no mood to laugh.

Of course, we didn’t talk about Director Choi Min-hyeok at this point.

Director Jang Seung-il omitted Director Choi Min-hyeok’s name from the report because of Vice Chairman Choi Moon-kyung, and reported to Chairman Choi Yong-wook only verbally.

Vice President Choi Moon-kyung looked at the two people with a puzzled look.

“I don’t know English very well.”

“Look, Vice Chairman, what’s important is not what ETRI was negotiating with Osung Electronics. What’s more important is whether or not we get involved in this business.”

“… If this report document is true, we must do it unconditionally.”

“… I guess so?”

“There are many problems that are piling up right now related to digital broadcasting. However, if the risk disappears, it is something that must be done even if it fails. Furthermore, the government has already insisted on excluding large corporations, so this is a golden opportunity for our group!”

“That’s true.”

And the two people’s opinions were not wrong. Considering the scale of the satellite information and communication business, it was too vague for a large company to enter, but it was perfect for a mid-sized company like KM Group.

Additionally, the market could grow even larger because of the Oculus project.

Here’s where things change a bit.

If you look at it this way, it’s really easy to come to a conclusion.

But just a few months ago, no one would have predicted that the satellite broadcasting business would progress this quickly.

First of all, there were many problems with ETRI’s research. There were cases where Osung Electronics got involved and fought over a bowl of rice, and the research progress went downhill.

Here, content providers claimed that they would take the most.

The developed receiver did not perform well and was not properly tested.

The broadcasting bill didn’t make any money, so no one in the National Assembly was interested in it.

It’s a total mess.

That situation was resolved in just over two weeks with the announcement of the Oculus Project.

What’s even more absurd is that the quality of satellite broadcasting business was better than that of American broadcasting.

Chairman Choi Yong-wook, who was thinking about the Oculus project situation again, closed his eyes for a moment and thought.

He also saw the report agenda that the changes in this project occurred after Choi Min-hyeok got involved.

He began to think again about his grandson, Choi Min-hyeok.

Choi Min-hyeok’s help was desperately needed.

Naturally, several immediate issues came to mind.

The problem that arose due to the donation of shares.

‘Surely Minhyuk, this guy won’t make a fuss about what happened last time, right?’

Chairman Choi Yong-wook also only recently realized how much his grandson Min-hyeok was holding back. He regretted the past for nothing. No, he thought it was fortunate because of Director Jang Seung-il. It was because Director Jang Seung-il stepped in and his thoughts were not conveyed.

‘You could say that it happened because the staff received the wrong instructions. The problem is that Min-hyuk can’t tell this guy about that guy. If they were to join hands, it’s obvious that they’d cause a scene.’

But he suddenly felt a sense of self-loathing when he realized that he was watching his grandson Choi Min-hyeok’s expression.

I never imagined things would turn out this way.

“… … .”

Only after meeting the silent eyes of Director Jang Seung-il did I click my tongue inwardly.

‘I see. Director Jang had already anticipated something like this and opposed Min-hyeok’s confrontation with that guy. Ha, this is it.’

Chairman Choi Yong-wook finally realized that his grandson Choi Min-hyeok was scarier than he thought.

‘They say that people can never empathize with something unless they experience it themselves, and that’s exactly what happened to me.’

Chairman Choi Yong-wook, who had shaken off the complicated problem, looked at Vice Chairman Choi Moon-kyung, who was still out of his mind. He lowered his voice and spoke to Director Jang Seung-il.

“Director Jang must have heard the vice chairman’s story, so he should work on this seriously. Of course, it won’t be easy. The Ministry of Information and Communication is also a problem, and there are members of the National Assembly involved. I will mediate that part, so just check the rest properly.”

“…All right.”

Director Jang Seung-il also stood up from his seat and glanced at Vice Chairman Choi Moon-kyung, whose face was frozen with a serious expression. Vice Chairman Choi Moon-kyung must have just watched, as the conflict between the Ministry of Information and Communication and ETRI was so intense.

To be exact, I found out that Director Choi Min-hyeok had used TRS as a prestigious name to shake Vice Chairman Choi Moon-kyung and prevent her from thinking of anything else.

‘I guess you don’t know the full story yet. Director Choi probably still has some grudge from the past, so I don’t know how it will turn out.’

However, he was relieved to see that Chairman Choi Yong-wook did not bring up Director Choi Min-hyeok. Chairman Choi Yong-wook also felt that he had finally recognized Director Choi Min-hyeok’s capabilities.

‘Still, it’s fortunate. It ended without the relationship between the two getting worse.’

* * *

Director Jang Seung-il called in all the staff members of the Planning and Coordination Office to review this agenda, which included the sale of TRS Geotech shares.

As expected, the issue of a penalty lawsuit that was close to a threat arose.

“Whew, if we give Geotech what it wants, we can somehow resolve it. What they want is the domestic TRS market.”

It was a conclusion reached because it was a task that required unilateral assistance to other people’s businesses, but there was no other good alternative.

Vice President Koo Gil-mo also did not refute the claim because he knew the circumstances of Geotech, which had planned to establish a joint corporation.

There was also talk of new hires, but I couldn’t contact them right now and tell them that we were in the process of selling the division.

If you are happy about getting a job at a company, but then you hear that the company is closing down before you even start working, things won’t go your way easily.

Vice Minister Koo Gil-mo expressed a different opinion.

“I think it would be right to contact them after coming up with a solution. You can buy some time by saying that the new employee training has been postponed due to the TRS Geotech building problem.”

“That would be nice.”

Even the calm Jang Seung-il had a complicated expression on his face. He also couldn’t have imagined that the situation would turn out like this.

But there was actually another problem.

“By the way, can KM Electronics participate in the Oculus project?”

“KM Electronics’ satellite division has been involved in this business from the beginning. So, they can use that excuse to get involved. We also suffered a lot of losses.”

“But there wasn’t much quantity of samples made, and it was still in the research stage. In the end, the schedule is a bit behind, but is there anything to be gained from that?”

“Still, it’s better than nothing.”

“Even if we skip that part, as we have already seen from what Oseong Electronics has done, they will produce 100,000 units of receivers each. Will we be able to compete with that quantity?”

“… … .”

Director Jang Seung-il also had a hard time answering. What O Sung Electronics did was just the beginning. Daewoon Electronics, LC Electronics, and HY Electronics will no longer be passive.

Once the specifications are properly determined, they will attempt to monopolize the satellite broadcasting market with a massive offensive.

‘I’m sure the chairman was worried about this problem too.’

Director Jang Seung-il was smart enough to receive a scouted offer from the Osung Electronics planning team, but he had no way of winning a fight with the top 10 major companies through a barrage of material.

All the other planning staff members kept their mouths shut and did not express any opinions.

When they saw the state of the Oculus project, they were unable to come up with any other alternatives.

To be honest, I felt tired just dealing with ETRI alone.

The oblivious manager, Cheon Gyeong-gu, raised his hand.

“… Shouldn’t we listen to the story of KM Electronics’ Director Lee Il-tae?”

Manager Park Jae-kwang, who couldn’t stand to watch, nudged Manager Cheon Gyeong-gu with his elbow.

“Why that… … .”

However, even Chief Cheon Gyeong-gu kept his mouth shut in the face of the gazes of all the Planning and Coordination Office staff members who were full of murderous intent. Some even laughed at him.

This meeting was so important that the entire Planning and Coordination Office gathered together to attend.

But the only person who was talking was Director Lee Il-tae.

Director Jang Seung-il, who was tired, did not reprimand Director Cheon Gyeong-gu’s claims.

“Don’t talk about Director Lee Il-tae. Oh, and don’t talk about the internal affairs of KM Electronics. Don’t say a single word that could provoke Director Choi Min-hyeok!”

“…yes.”

The Choi Min-hyeok conspiracy theory was already spreading through the stock market. The Planning and Coordination Office staff could not have been unaware of it. There was even a rumor going around that Choi Min-hyeok was the one leading the Oculus project.

In the end, the keynote speech meeting ended without any significant results.

Director Jang Seung-il personally visited Chairman Choi Yong-wook and reported this conclusion. He was also prepared to hear a strong warning from him.

However, Chairman Choi Yong-wook was not a person without any thoughts at all.

“Tell Min-hyeok that no matter what happens in the future, he will never bring up the issue of the past KM Electronics stock transfer. If that happens, he will forget the past.”

“…All right.”

Director Jang Seung-il also got up from his seat with a strange expression on his face.

‘But will that be enough? No, maybe it is possible. The issue of stock donations will continue to be discussed in the future. If the Chairman helps, Director Choi will also be less burdened.’

* * *

Choi Min-hyeok also laughed after receiving a report on the atmosphere of Busan KM Group. He realized that one part of the puzzle in the big picture he had drawn was going as expected.

The conflict between Oseong Electronics, ETRI, and DL Group was not as expected and I did not like it, but I did not pay much attention to it.

Anyway, the more they confronted each other, the more the value of the Oculus project shares they owned would increase. There was no reason to criticize them for increasing my wealth.

Also, in fact, one of the key targets of this incident was Vice Chairman Choi Moon-kyung.

Although it was a drawing made by Choi Min-hyeok himself, he was surprised by the more complex aspects than he had thought. He overlooked Geotech’s obsession with the TRS business.

‘It’s messy and uncomfortable to look at, but this is reality, so there’s nothing we can do about it. We really need to think about this from a popcorn perspective.’

I wasn’t interested in the TRS business or the Oculus project in the first place.

The TRS business was shrinking as Geotech went bankrupt, and the Oculus project had a steady net profit of 50-60 billion won, but it wasn’t enough to interest him.

He felt a lot when he saw the persistent movements of Osung Electronics and KM Group, which were targeting the Oculus project. If he had not done anything, they would have done all sorts of things to develop MP3.

‘If I had known about the MP3 patent acquisition in advance, I might have intercepted it in the middle.’

They could have even sabotaged the development of the MP3 chip.

Fortunately, Oseong Electronics still had no idea about the inside story.

Even the MP3 chip was ordered under the label of a new TV control chip.

Fortunately, the development of various design MP3s proceeded smoothly thanks to the absence of external pressure.

The planning department and design team came forward and proposed various ideas.

Choi Min-hyeok also knew about the future blockbuster design, but he just added it in a subtle way. If possible, he did not take the initiative like before.

‘It still takes some time for MP3s to spread across the Internet.’

Thanks to this, I was able to look at the one problem I was facing leisurely.

I wasn’t very satisfied with the plan that came from the planning team.

This is a method of covering up the issue by using the image of an innovative company that uses Collins to cover up the issue of stock donations.

Choi Min-hyeok did not take the issue of shares lightly. He also anticipated that there would be a problem as he had secured shares of major shareholders, including CEO Choi Du-jin, through past investments in Belin.

‘That’s why I tried to prevent the planning department staff from acquiring stocks if possible. I tried to make sure there wouldn’t be any problems, but I overlooked the fact that the stock value would increase too much. It’s difficult with this plan.’

A moment of thought.

But then Choi Min-hyeok realized belatedly that MP3s needed to be promoted. In order to create a boom, preliminary work was needed.

What if we inserted an MP3 as a backstory to Collins’ promotion?

How would those sensitive to astronomical gift tax breaks view it?

‘It’s okay. Of course, there are a few more things to sort out before that.’

Only then did Choi Min-hyeok make up his mind.

“Did I do something wrong? We need a solid plan. Just like the way you tried to stabilize the stock price of KM Electronics, which was going down. It happened at the extraordinary general meeting of shareholders. Have you already forgotten?”

“Oh, that’s true, but… … .”