The Magician’s Memorial - Chapter 283



Only Noblemtl

283. Babpsae with torn crotch (2)

The exchange rate was rising day by day.

The exchange rate, which was 900 won, exceeded 1,000 won in one month, and after another month, it was just around the corner at 1,400 won.

As the situation unfolded, the most excited person was, of course, President Han Jeong-hoon.

“Chairman! The exchange rate has finally surpassed 1,400 won. The positions of A and B have finally been reversed. Representatives from financial companies have contacted me saying they will come to Taewoo Securities.”

“When has President Han ever been in the position of Eul? He just went from being a pushy customer to being a genuine customer.”

“Actually, the customer is king, so I have never been the boss. Representatives of financial companies are so anxious that they want to visit Taewoo Securities right away. What should I do?”

In total, insurance money exceeds 15 trillion won.

In normal times, I could have held back tears and paid 15 trillion won in insurance money.

However, because it was a global economic crisis and they had to save every penny, the financial company representatives were impatient.

“There is no benefit in taking too long. Let’s get it over with before the government feels burdened and puts pressure on it. I will also be there.”

“Is it really necessary for the Chairman to go with us? It would be a waste to use a cow-killing knife to kill chickens.”

“The CEO will do the dirty work. I plan to just sit in the background and help out one by one. If I just do that, I won’t be under a lot of pressure, right?”

“The heads of financial companies will feel dizzy. Then, we will summon the financial company representatives to Taewoo Securities by the end of today.”

Representatives of financial companies famous for their heavy buttocks.

Since they were always in a position to lend money to companies, they rarely visited companies in person.

But today was different.

As soon as the contact was made, financial company representatives rushed to Taewoo Securities, and the meeting was able to proceed even before lunch time.

“Thank you for visiting Taewoo Group. I have received brief information from CEO Han Jeong-hoon. I understand that due to the rapid rise in exchange rates, you will have to pay KIKO insurance premiums.”

“The situation has changed so urgently. Just as investment companies on Wall Street fall like dominoes, Korea’s financial companies could also do the same. In times like these, we must join forces to overcome them.”

Shinhwa Bank Vice President Jeong Tae-seop raised his voice on behalf of the five major banks.

Everyone who attended the meeting nodded vigorously and asked to cancel the insurance product.

“First, I need to listen to the story. President Han Jeong-hoon will lead the meeting.”

I took a step back.

It was better to put pressure on him by glaring at him from behind rather than speaking directly, and all I had to do was create a space for CEO Han to run wild.

“This is Han Jeong-hoon from Taewoo Securities. First of all, I would like to inform you that it is impossible to cancel the insurance contract. As you know, Taewoo Securities holds 60% of the shares, but the remaining shares are held by small and medium-sized business owners. We cannot unilaterally terminate the contract. “It’s impossible.”

“We will persuade small and medium-sized business owners. Could you please give up the shares held by Taewoo Securities?”

It was Vice President Jeong Tae-seop, who made demands that were no different from unreasonable demands.

Instead of answering, CEO Han Jeong-hoon turned his head towards me, and I smiled with a surprised expression.

“Huh! This is the first time in my life I’ve ever heard someone ask me to just give up my shares. I never thought I’d hear such a thing from the most calculating person in the banking world.”

“Of course, I am absolutely not asking you to just give up. We will refund all the insurance premiums you have paid so far and compensate up to 20% of the insurance amount.”

“You are saying that you are giving 1.8 trillion won instead of 9 trillion won in insurance money. There are cases where people are asking for 7.2 trillion won to be discounted. For bank loans, you have to do everything to lower the interest rate by 1%, but the bank is offering 80%. “They’re just asking us to lower it. This doesn’t seem to fit the case.”

He was blatantly criticized as someone without a case.

Vice President Jeong Tae-seop’s face turned red, but he didn’t show any signs of yelling or anything else.

“We know that our demands are too much, but we must work together to overcome the economic crisis.”

“We said we should join forces, but the structure is such that Taewoo Securities unilaterally suffers losses. Only if the banking sector shows sincerity will our chairman be convinced.”

A boss used me as an excuse to speak in a strong tone.

This is why I followed them into the conference room, and the financial company representatives were just quickly rolling their eyes.

“Wouldn’t we be doing a lot of business together with Taewoo Securities and AIZ in the future? So, please make concessions just this once.”

“I don’t know why the person who wanted to collaborate attacked us first.”

“What do you mean by that?”

“Didn’t you try to regulate Cocoa Bank even though you knew that its majority shareholder was the Taewo Group? This is clearly an act of attacking the Taewo Group. If you attack backwards and ask for concessions in the future, who would accept such a proposal?”

To be honest, I had no intention of receiving the entire 9 trillion won.

Since we had to keep an eye on the government, we planned to receive some in money and the rest in something helpful to us.

First, withdraw regulations on Cocoa Bank.

Cocoa Bank dominates financial services using internet banking and apps.

It was growing so rapidly that it could be ranked among the top five banks within 10 years, and it was necessary to take measures to prevent further checks from the banking sector.

“I will withdraw the Cocoa Bank regulation issue right away. I did not realize that Cocoa Bank had such a close relationship with Taewoo Group.”

“They say they did it without knowing, so I won’t say anything more about the matter. President Han will continue to run the meeting. I will leave the room for now.”

Now it was time for full-scale negotiations.

Since we achieved the first goal, the withdrawal of Cocoa Bank regulations, I could stay behind.

Because I could have achieved more by having a boss bite rather than by me stepping forward.

* * *

next day.

I visited the KEPCO site construction site with President Han and the planning director.

“Now it looks like a construction site.”

“Taewoo Engineering & Construction is working as quickly as possible by deploying all the construction equipment available.”

“Do you like it, President Han? When the building is completed, Taewoo Securities will work here, not in the new building.”

“Construction equipment keeps digging into the ground, so it doesn’t really feel like it.”

He was a CEO who had worked exclusively in the financial sector since birth.

This was also the reason why the planning director and I reacted lukewarmly while we were thrilled.

“It will take at least a few years to really feel it. We will continue to sell land for at least another year or two.”

“Have we been digging up land for so long? It certainly doesn’t seem easy to build a high-rise building.”

“Instead of doing this here, let’s move to a place that feels real.”

We got back in the car and moved to Pangyo.

I could feel the completely different appearance of Pangyo from the road over the past few years.

Neatly maintained asphalt roads and high-rise buildings going up everywhere.

And at the center of it all was the IIT Korea campus, built with great effort by Taewoo Group.

“Wow! Is the campus completed already?”

“It didn’t take that long because there are six 10-story buildings on campus. How do you like it, President Han?”

“What can I do if I like it? You have to like it, Chairman.”

The head of the planning department and the CEO have a quick chat.

I listened to their voices and looked at the panoramic view of the IIT Korea campus.

It’s a new building, so it’s clean, but the building and view feel a little stiff, perhaps because it’s an engineering college.

“It looks like the exterior construction has been completely completed.”

“Interior construction is almost complete, and experimental equipment is coming in.”

“Right now, the semester has to start next year, so we have to complete all preparations before then.”

“I will be fully prepared.”

“I’d like to see the dormitory too.”

“I will guide you.”

A dormitory located at the back of the school.

There were three similar buildings built like apartments, but the exterior and interior were noticeably different.

“The facilities are comparable to those of a hotel.”

“All students can live in the dormitory, and there are double and quadruple rooms. Each room includes a toilet and shower, and recreational facilities such as a gym, table tennis room, and PC room are also fully equipped.”

We took a look around the dormitory.

A president who had been quiet until now quietly said something.

“This is all free.”

“Not only the dormitory fee but also the tuition fee is fully covered by Taewoo Group. Why, do you have a stomach ache?”

“I heard that the National Institute of Science and Technology also offers free tuition, but considering the quality of facilities, I think this one is much better.”

“It’s not just the facilities that are excellent. We also have faculty that are unrivaled by any other Korean university.”

It was one of the reasons why I created IIT.

The primary goal was to recruit talent through IIT, and the secondary goal was to tie up developers who were collaborating with Taewo Group by hiring them as professors.

“I heard that a large number of developers who are making a name for themselves in the artificial intelligence and battery industries have been hired as professors.”

“David is still working hard to recruit faculty. Next year, we will have a truly luxurious faculty.”

I felt like I was finally taking the first step.

I couldn’t rely on my memory and abilities forever.

I needed a foundation that could grow without me, and I believed that the IIT Korea campus would play a part in that role.

“These days, securities companies are also hiring a large number of IT personnel. I hope Taewoo Securities can also benefit from the IIT Korea campus.”

“That depends on what Taewoo Securities does. The condition is that you have to join a company related to the Taewo Group, but that doesn’t mean we can decide where you go.”

There is only one condition for admission to the IIT Korea campus.

The condition was that he had to work at a company related to Taewo Group for more than 5 years.

It may sound like a toxic clause, but when you hear the name of the company involved, it is not a bad condition for students.

If you look at companies you can join.

Of course, all affiliates of Taewoo Group were included.

Also included were overseas companies such as Apple, Google, Amazon, Facebook, and WeTube, as well as domestic IT companies in which Taewo Group holds shares.

These were companies that anyone who graduated from an engineering school would want to join, so it was by no means a toxic clause.

“Chairman, I think you should go back to work.”

“What happened?”

While looking around the campus.

Suddenly, the planning director checked his phone and spoke urgently.

“I received a call from Blue Roof Tile House.”

“Now I’m getting contacted all the time, saying we’ve been working on a financial hub project together.”

The blue tile house meant the Blue House.

I don’t know what the reason was from the Blue House, but the fact that they contacted me at this time most likely meant that they needed help from the Taewoo Group.