The Highest Level Son of a Chaebol Family - Chapter 380



Only Noblemtl

380. Dad, pass the baton

Chairman Cho of the Geumjo Group shook his head.

“You can never buy Yukong’s shares for $200 million.”

“why?”

“Isn’t it true that Yukong and Gulf are shouldering all the losses from the past?”

Yukong’s deficit was significant.

After experiencing two oil shocks.

It was the result of a desperate measure to curb the soaring prices.

“Just a few years ago, crude oil was trading at $2.90 per barrel, but in just one month, it surpassed $12 and is now approaching $30.”

Crude oil prices are soaring day after day.

I didn’t think it would fall off.

“It is expected that prices will easily surpass $40 per barrel in the near future.”

Chairman Cho of the Geumjo Group let out a small sigh.

“The situation is such that prices are going crazy and companies are on the verge of bankruptcy.”

Among them, the companies that suffered the greatest blow from oil were oil refineries.

The largest one can be considered the best.

“If Yu Gong falls, the Republic of Korea will be shaken.”

The president’s expression became increasingly serious.

“Let me explain the worst case scenario.”

Chairman Cho of the Geumjo Group spoke cautiously.

“The deficits currently accumulated by Western oil refineries, excluding oil-producing countries, are enormous. Gulf oil companies are no exception.”

The company was on the verge of laying off all of its executives due to deteriorating management.

“If it’s a situation where you’re going to get cut anyway… … I think there’s a high chance that you’ll bite and hang on to your opponent.”

“hmm?”

“They are trying to turn a crisis into an opportunity. By offering a sacrifice to be devoured.”

The president’s eyes changed at the mention of the sacrifice.

It was a murderous gaze that made it seem like it wouldn’t be satisfying even if it chewed up a person whole.

Chairman Cho of the Geumjo Group said with his eyes tightly closed.

“Gulf Sa probably doesn’t care whether Yukong goes under or not.”

“If Yukong goes bankrupt, the stocks I hold will become worthless. Then, won’t Gulf also be in trouble?”

The president raised one eyebrow.

“Furthermore, how many years has the Gulf state’s finances been in decline?”

At one time, Gulf Oil was considered one of the largest refineries in the world.

But the recent losses from the opening of Kuwait and the Suez Canal were too great.

Compared to the Rockefeller family’s oil companies, they were lagging far behind.

“Now is the time to sell any shares of Yukong you have to cut your losses.”

“If it were a normal private company going through a difficult time, I would have done that. But the situation is a bit strange right now.”

“how?”

“Because if Yukong collapses, the blow to South Korea will be much greater and stronger than that to Gulf.”

The president furrowed his brow without mercy.

“How can you compare South Korea to the Gulf States?”

“Unlike the Gulf countries, South Korea cannot send its citizens to emigrate and forcibly confiscate their private property because of economic difficulties, can it?”

However, there is talk that Gulf companies will be able to survive by forcing restructuring and selling off their assets at a low price if they are faced with a crisis of bankruptcy.

“If Gulf News Agency takes the people of South Korea hostage and decides to pass all the losses onto the government… … .”

Chairman Cho of the Geumjo Group sighed softly.

“Yukong is the mainstay of crude oil supply in South Korea. We cannot abandon Yukong.”

The president’s face turned red and blue.

“If you don’t want to experience national bankruptcy, buy stocks with a large premium. Is that what you’re thinking?”

Chairman Cho of the Geumjo Group added in a low, crawling voice, keeping an eye on the President.

“If it weren’t for that, I wouldn’t be so reluctant to respond to Your Majesty’s call… … .”

“Taeseong’s brain.”

“yes.”

“If Gulf News really acts that stiff, let’s show them an example.”

The president downed his drink in one gulp.

widely.

“No matter who you take hostage or what you threaten, the result should not change.”

The President’s gaze toward his father was hot.

“Today, I will scrape up every last bit of Yukong’s shares that Gulfsa is holding. Got it?”

“yes.”

“If Gulf states run wild with the US on their backs.”

The president laughed eerily.

“You too, carry Korea on your back and crush it.”

The president pointed to the head of the central government with his chin as if to show off.

The head of the central government also added a word confidently.

“It’s not a big deal to throw American idiots into the water.”

It seemed like the central office’s water torture room would be open to the public at any time.

Knock knock.

“Your Majesty, President Kim Byeong-sik of Yukong and the Gulfsa people have arrived.”

“Let me in.”

Bam.

As soon as the door opened, Yukong’s CEO Kim Byeong-sik bowed with a smiling face.

He walked over unsteadily, wiping away the cold sweat.

“It’s been a while, Your Majesty. Chief of Staff, Chief of Security.”

Yukong’s CEO Kim bowed politely in order.

“Did you get into a car accident on your way here?”

It was a reprimand for being so late.

“It’s not a traffic accident, but it’s quite a headache.”

Yukong’s CEO Kim pointed behind him with an embarrassed expression.

“If Gulf wants to take Yukong’s shares, they insist that we pay five times the market price.”

For a moment, silence flowed through the room.

As soon as the president lit a cigarette, the chief of security at the Blue House immediately lit it.

Only after slowly letting out a puff of smoke did the President open his mouth.

“So how much did you charge in total?”

“One billion dollars.”

Chairman Cho of the Geumjo Group took a deep breath.

“A billion dollars?”

The only one who let out a hollow laugh, like a groan, was Chairman Cho of the Geumjo Group.

As soon as he finally shut his mouth, the room became quiet again.

“Even if you take out all the conglomerates in South Korea, there won’t be a company that can pay that much in acquisition money.”

Yukong’s CEO Kim Byeong-sik was in a desperate situation.

“Then, he said, wouldn’t the South Korean government just pardon him?”

“… … .”

The president smoked his cigarette in silence.

“Whose dog’s name is $1 billion?”

“You don’t even have a billion dollars?”

The Gulf negotiator spoke with an exaggerated expression.

“How is it? It’s less money than you thought, isn’t it?”

“Pocket money?”

The president flicked out the cigarette he had been smoking.

“How much is Yugong doing now?”

“It will cost about $400 million.”

“The campaigning is too much.”

The Gulf chief negotiator folded his arms.

“Yukong is the one that monopolizes the distribution of crude oil in South Korea, and even $1 billion is not cheap!”

The Gulf negotiator turned his head sharply.

“If you don’t like it, then don’t! I won’t sell it!”

“I, I, I’m so rude… … !”

Chairman Cho of the Geumjo Group was the flagship.

“How could you say such arrogant and disrespectful things in front of His Excellency the President… …!”

“I’m American! I don’t speak Korean well!”

The Gulf negotiator smiled shamelessly.

“If you keep nagging, call the US Ambassador to Korea!”

“What are all these kids?”

“Third party, get out! Are you going to buy Yugong?”

The Gulf chief negotiator snorted.

“Get out if you don’t have a billion dollars!”

“Hey! Who is that Yankee bastard with a brain that’s still wet… …!”

When the president raised his hand, Chairman Cho of the Kumjo Group, who had been trembling, gritted his teeth.

The president silenced Chairman Cho of the Geumjo Group and lit a new cigarette without saying a word.

As if to tell me to do more.

Then, the Gulf negotiating team leader became very arrogant and threatened.

“If you get annoyed, you can call a shareholders meeting!”

The Gulf negotiator held up five fingers.

“We have 50% of Yukong! You don’t have 50%?”

Of course, whenever money was needed, shares were sold and used as operating funds.

It goes without saying that the head of the central government has been busy recovering Yukong’s shares.

“If you keep getting on my nerves, we’ll hold a general shareholders’ meeting and change our CEO.”

“… … !”

“Or we could just push through the merger and acquisition with Gulfsa!”

It was a terrifying threat.

As the President’s lips twitched, the Gulf chief negotiator raised his hand to make his intentions clear in advance.

“This is a market activity between private companies, so the government cannot interfere! If you insist, take it to the International Court of Arbitration!”

The International Court of Arbitration (ICC) was an international organization that arbitrated disputes regarding mergers and acquisitions between global corporations in accordance with international commercial law.

“If the President interferes, we will also call the American Ambassador and the American President! What do you think? Can you handle it?”

The Gulf negotiating team drove the wedge in.

“That’s a billion dollars! I won’t give you a penny less!”

It was reckless.

So, Chairman Kim Byeong-sik of Yukong had no choice but to wipe away the cold sweat, not knowing what to do.

“Wow, what kind of a real punk is this? You sent a punk like this to be the representative of the negotiation team?”

Chairman Cho of the Geumjo Group rolled up his sleeves with a smile.

A reflexive slap came out.

“That sounds like a billion dollars! With that money, you could buy two Yukongs and still have $200 million left over!”

“Then why don’t we do that?”

The Gulf negotiator stuck his stomach out.

“We’re not even an oil-producing country. Our Gulf countries have nothing to lose! We won’t starve even without the tiny Korean market!”

“I, I,

“You don’t even want to listen to what that beggar has to say?”

“Who are you talking to right now… … !”

Where has Chairman Cho of the Geumjo Group gone to be subjected to such humiliation?

He was so angry that he jumped up and down.

“Are you done talking now?”

“Okay. I’m done.”

The Gulf chief negotiator waved his hand.

“We responded to the President’s call, we made no threatening moves, and we have already conveyed Gulf’s position. So, we are going!”

The Gulf chief negotiator turned his back without hesitation.

The chief of security at the Blue House stood in front of him.

“Your Majesty’s permission is not yet available.”

“Any act of oppressing, detaining, or coercing Americans without just cause could spark international conflict. Get out of the way!”

“That kid who looks like tofu. Turn around when he says something nice.”

“You step back. Touch a single hair on my body! This will cause a real international conflict!”

Yukong’s CEO Kim Byeong-sik kept wiping away the sweat that was running down his face and smiled awkwardly.

“Oh my, why are you doing this again? When did we ever oppress, detain, or force anyone?”

He grabbed the arm of the Gulf negotiator.

“Let’s not do that, let’s have a drink together and have a frank conversation… … .”

“I told you we’ve talked it over. I won’t give you a dime off a billion dollars, so call me when you get the money. Bye.”

“Sit down.”

The president nodded.

It was a loud voice.

The Gulf negotiator glanced at the president and then turned to leave the room.

“Is it okay for Yukong to be searched and seized, and for the tax authorities to investigate?”

“What does that have to do with us?”

“What would have happened if Gulfstream had paid out just one more penny in dividends?”

“… … !”

There is no company that doesn’t produce dust when it is cleaned.

This is especially true if it is a company that has monopolized the government and is relying on it.

“It is not only Gulf that can be referred to the International Court of Arbitration.”

The president flicked out the ash from his cigarette.

“If collusion between politicians and businessmen or bribery of high-ranking public officials is revealed, there is no need to go as far as international law.”

“It’s not us, it’s your country’s management… …!”

“You are a major shareholder who can hold a general shareholders meeting and replace the management? Poor audit.”

The president tilted his head to the side and nodded.

“Sit down.”

“profit!”

The Gulf negotiating team had no choice but to plop down on the sofa across from Chairman Cho of the Gold Group.

“The South Korean government is pressuring American companies and using threats to gain unfair profits… …!”

“Negotiations should be done with them.”

The president pointed to his father with the tip of his chin while smoking a cigarette.

Accordingly, the eyes of the Gulf negotiating team were all focused on my father.

“Neither this way nor this way, but that way?”

When he said that he was not the president or the chairman of the Gold Group, but his father, the Gulf negotiating team snickered.

“A young lady is the perfect person to kneel down and beg for mercy.”

“Well, we’ll see.”

The president wiggled his hand with a cigarette between his fingers.

“What should I do?”

“Now that we have heard Gulf’s position, let’s convey our position and begin proper negotiations.”

Suddenly.

Father woke up.

A look of puzzlement appeared on everyone’s faces, including the president.

“Can I argue in front of His Excellency the President? I will move.”

My father adjusted his clothes and guided us politely.

“This is just a negotiation between private companies, so I will do as you said and do my best without worrying about what the United States thinks.”

Bam.

My father opened the door first and went out.

The Gulf people who had been leaning back on the sofa and talking smugly had dumbfounded expressions on their faces.

I’ve been waiting!

“Dad, pass the baton.”

I clapped my hands together with my father’s so that they made a clap sound.