The Highest Level Son of a Chaebol Family - Chapter 264
Only Noblemtl
For nearly a month, newspapers and broadcasts were abuzz with talk about ‘real estate regulation policies.’
The aftermath spread like wildfire.
The first place to suffer was the administrative office.
Civil servants had to respond to the endless stream of civil complaints without any time to spare.
A groan burst out on its own.
“If this continues, the executive branch will be paralyzed!”
In front of the broadcasting crew, the officials shouted in a miserable voice.
“We are receiving a flood of inquiries all day long. You can think of it as a situation where it is almost impossible to handle each and every complaint due to lack of manpower.”
“The war within the administration is more tiresome than the war with speculators!”
“I can’t tell if this is a civil affairs office or a police station detention center. Why else would I be asking for cooperation from the police station every day?”
“They yell at us, and if necessary, they even grab us by the collar. We are plagued by fights under the guise of protests all day long from the time we arrive at work to the time we leave work, and it’s a difficult situation for us as well.”
The appearance of the civil affairs office was broadcast on the news.
The citizens were extremely excited and could not hide their anger.
“The government should catch speculators, why is it only catching the landowners?”
“You want me to hire a lawyer to buy or sell my house? Does that make any sense?”
“The country is a thief, no, there is no such thing as a robber! Have you seen them extorting the transfer tax without mercy?”
“Not only are you going to collect value-added tax, but you’re also going to raise the transfer tax? Oil prices are already going up, and it’s going to break my back!”
“Are you saying that all construction companies should die? If this continues, subcontractors like us will go bankrupt! A family of five will all be left on the ground. Are you saying that the government will take responsibility?”
“Aren’t you angry that a perfectly good stock has become worthless because of government policy? It’s so frustrating!”
The media all reported the confrontation between government officials and citizens as headline stories.
The brawl in the National Assembly is over, street fighters for democracy are flocking there.
Of course, on the streets, the Federation of Korean Trade Unions, wearing red bands on their foreheads, began large-scale rallies and demonstrations.
“Abolish real estate regulations that are killing construction companies!”
“Destroy it! Destroy it!”
“Rescind the tax increase that is destroying the national economy!”
“Withdraw! Withdraw!”
“I’m going to quit like this! I want to live a day-to-day life as a day laborer!”
“I want to live! I want to live!”
The military and police were mobilized to respond to the protests by angry workers.
The Korean Confederation of Trade Unions protesters responded to the violent crackdown with shields and clubs using Molotov cocktails and tear gas.
Acrid smoke rose from every corner of the street and sirens wailed.
Warning lights also came on at securities firms that had large stock price displays on one wall.
“oh my god!”
“How could you fall so low?”
The stock market was a venue where the growth industries of the time were highlighted.
It was a time when the Middle East construction boom was taking place and Gangnam apartment speculation was at its peak.
Therefore, the leading stock in the stock market could be said to be the construction stock, which rose 962% over six years.
That is why the construction stock market turmoil brought about by the real estate regulation policy had an indescribable impact on the stock market.
“What the hell! Even the new construction company’s public offering is going to go down?”
It was a time when opportunities to invest in public offerings naturally expanded along with the construction company listing boom.
The construction stock market boom that began in the mid-1970s.
It seems like only yesterday that investment enthusiasm for public offerings was so high that subscription rates for newly listed construction stocks soared to 210 to 1, but that is now a thing of the past.
“If it has fallen this much, it is time to bounce back!”
“If this continues, I’ll end up like a piece of waste paper. I’m screwed, I’m screwed!”
“I thought the big construction companies would hold on strong······.”
“Ha, has the country fallen into ruin?”
Every day is different, every hour is far away.
The builder began to fall endlessly to the ground.
Among them, there were two construction companies that particularly stood out.
“Get rid of Wookwang Construction!”
“It’s only been half a year since I’ve become one-twentieth of my original size!”
“That’s great! Are you still holding it?”
“Woogwang Apartment sold like hotcakes! How did it collapse to 1/20th of its original value?”
Among them, the plunge in Wookwang Construction was by far the greatest.
The gap was so large that newspapers and broadcasters could not help but express concern every day.
On the other hand, Taesung Construction was different even though they were both construction companies.
Taesung Construction began to attract attention in the stock market in a completely different sense from Wookwang Construction.
“The stock prices of all construction companies plummeted, so why did only Taesung Construction rise?”
“Let’s transfer to Taesung!”
“Taeseong is the only way to survive!”
Taesung Construction’s stock price defense was amazing.
While other construction companies were falling one after another due to unsold properties and apartment construction regulations, Taesung Construction hesitated for a moment and then got back on its feet.
This was because Taesung Group Vice Chairman Cha Seong-jun, former president of Taesung Construction, held a press conference at an opportune time.
“Taesung Construction has a lot of major construction projects scheduled for the next 10 years. Since winning the bid for subway line 2 this year······.”
It was a rare piece of good news in a construction stock market crash.
Newspapers and broadcasters began reporting on this simultaneously.
Taesung Group actively promoted it, and the government decided to push it forward.
< Securing overwhelming financial power among domestic construction companies. “Leave the construction of cities in the Middle East to Taesung Construction!”
Thanks to this, Taesung Construction was able to show a good upward trend.
“Please give me 300 shares of Taesung Construction!”
“I will live with Taesung Construction!”
Taesung Group Vice Chairman Cha Sung-jun took advantage of this momentum and started to advertise loudly.
Large billboards were placed on subway line 1 and at each station, as well as at the Seoul Express Bus Terminal in Gangnam.
Subway Line 1 and Gangnam Seoul Express Bus Terminal are places in Seoul that compete for the first and second places in terms of floating population.
People passing by paid attention to the large Taesung Construction billboard plastered all over the wall.
“Huh? Taesung Construction built here too? I didn’t know that.”
“If they specialize in subway construction, they must be a great construction company.”
“Now that I look at it, Taesung Construction is more impressive than I thought. The government doesn’t give national construction projects to just anyone.”
Taesung Group Vice Chairman Cha Seong-jun did not shy away from interviews with broadcasting stations.
Also, under his command, news broadcast reporters began to cover special articles on Taesung Construction in large numbers.
In interviews, experts unanimously answered:
“The subway built by Taesung Construction? It’s definitely the best!”
“Taesung Construction possesses the highest level of technology in the industry, including the open-cut earth retaining wall method!”
“They are even skilled at utilizing the NATM and TBM methods imported from Japan this time!”
“I can confidently say that there is no domestic company that can compete with Taesung Construction in terms of current construction technology!”
Unlike the general public, the comments of industry experts have credibility in and of themselves.
Buy public trust.
As a result, the next day, Taesung Construction’s stock price soared again.
“Please give me Taesung Construction!”
Rising!
“It’s Taesung Construction!”
Rising!
“Wow, Taesung Construction really rose a lot on its own!”
Rising again!
“I will live with Taesung Construction!”
Taesung Construction’s stock price has been on an upward trend every day.
Taesung Group Vice Chairman Cha Seong-jun decided that newspapers and magazines alone were not enough.
“Let’s take this opportunity to advertise more aggressively.”
“Yes, Vice President!”
Taesung Construction began airing television commercials featuring Jung Yoon-hwa, the most beautiful actress of the time, along with an addictive commercial song.
Jeong Yun-hwa dressed up nicely in a suit and sang a song while lying down in the living room of her apartment.
-Oh, Taesung Construction~♬ Oh, Taesung Construction~♬ Oh, a happy home~♬ Your happiness created by Taesung Construction!
Jeong Yun-hwa smiled beautifully and whispered softly.
-It’s different when Taesung makes it. Premium apartments made by Taesung Construction. Join me~
The reaction was explosive.
The reaction exploded even louder in the stock market.
“It’s Taesung Construction!”
“Please give me Taesung Construction!”
“Taesung Construction!”
Taesung Construction is the only company that has shown a sharp rise in the construction stock market, which has been suffering from repeated plunges.
Thanks to this, the atmosphere of the regular executive meetings of all affiliates of Taesung Construction was very friendly.
No, it was more than just a friendly atmosphere; it was a festive atmosphere.
“Hahaha, excluding Taesung Construction, the stock prices of the top five construction companies in South Korea have recorded an average of minus 71% over the past month!”
“In contrast, our Taesung Construction alone soared by 182%! Hehehe.”
“This is an incredible achievement! It’s a record that is hard to find a source for!”
“Taesung Construction is the only one in the league! When it comes to the best construction company in the country, it’s definitely Taesung Construction! Hahaha!”
Here and there, the laughter of Taesung Group executives erupted without stopping.
Applause naturally followed, with occasional cheers.
Everyone, including you and me, had bright smiling faces.
“It is no exaggeration to say that construction stocks have led the stock market over the past few years.”
“Our Taesung Construction has also grown accordingly, but honestly, I don’t think we have fallen far behind other conglomerate construction companies in the past five years.”
“That’s understandable. Taesung Construction has a former CEO and incompetent executives… Ahem! I’m not talking about the vice president. You understand, right? Hehehe.”
When President Cha Yoon-seong took over Taesung Construction, incompetent executives were involved in money-related mischief and the construction was abandoned.
Despite its industry-leading construction technology, Taesung Construction has not been able to shine much recently.
During the period when construction stocks were considered golden stocks, they were the only ones standing still.
“Even at that time, Taesung Construction was able to survive thanks to the vice president’s bold choice to go to the Middle East and pioneer the Middle Eastern market.”
“It is said that the total contracts that the Vice Chairman had secured in the Middle East at that time amounted to 4.27 billion dollars.”
“After all, isn’t it thanks to the Vice Chairman that Taesung Construction has achieved its current glory?”
There was thunderous applause and cheers.
Everyone couldn’t hide their laughter, but it seemed like they had no intention of hiding it.
Following my grandfather’s declaration, I attended the Taesung Group executive meeting and quietly applauded along.
“Right now, isn’t the question of who will be the next president of Taesung Construction the most important one?”
“I received a call today saying that I would be formally introduced here, but······.”
“The vice chairman recommended it, the heads of key affiliates unanimously approved it, and even the chairman did not object.”
“I heard that he is someone who has made a significant contribution to winning this Middle East construction contract, just like the Vice Chairman?”
That was when.
Grandfather banged the stage hard.
Then the noisy crowd became quiet.
“Enough self-praise! Now it’s time to introduce the next president of Taesung Construction.”
“Yes, Chairman!”
“Come in.”
Bam.
The door to the conference room at Taesung Group headquarters opened.
I’m just about thirty now.
Even though he is young, he is so young that he can’t hide his big smile.
He walked briskly, adjusting his suit.
“Hello. I am Lee Gyeong-seok, the new president of Taesung Construction.”
“Lee Gyeong-seok?”
“You were the vice president’s secretary, weren’t you?”
Taesung Group executives gaped in amazement.
That must be because it was a greeting I never imagined.
‘100 million!’
But I too ended up gaping in amazement.
Because an unexpected person was standing next to Secretary Lee Gyeong-seok.
‘Mansour?’
A little boy in Middle Eastern clothing who looks about my age.
As I was walking around the conference room with my backpack on, our eyes met.
Mansour smiled and raised his hand.
“Hello. Nice to meet you, little boy.”
Who the hell is this kid?
End
ⓒ Osorok
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