40- Yuwon Telecom (8)
#40. Yuwon Telecom (8)
Jin Seo-jun, who was heading to the chairman’s office, was on the verge of being distracted by the media articles being reported in real time.
Even if it was Yu-One Cosmetics, they were denouncing the immorality of the owner’s family, including all the cases of Yu-One Telecom’s overseas investment failure.
No matter how much I thought about it, it wasn’t something Seoyeon could do alone.
“Are you inside, President?”
Jin Seo-jun, who was talking to the secretary’s office on the phone, opened the door to the president’s office right away without even hearing the secretaries’ answers.
“Father, Seoyeonie… Seoyeonie you…”
Seeing Seoyeon, who had arrived before him, Jin Seo-joon’s face was distorted like a bloody slaughter.
“Seoyeon, do you know what you did?!”
“Don’t make a fuss, sit there.”
“Father, this is Seoyeon who has crossed the line. It is not something to just wait and see.”
“Can’t you hear me shut up and sit down? I’m crazy, so sit down and listen to me.”
Only then did Jin Seo-joon, who was sulking, reluctantly sit down.
Unexpectedly, Chairman Jin Seong-cheol had a calm expression.
“Seo Yeon-ah, what were you thinking? Your brother apologized and agreed to return the company funds, so why are you so upset about this?”
“Dad knows too. Big brother, I didn’t buy a stake in the holding company with that money. And your eldest brother agreed to return the money? I didn’t hear anything.”
At the moment, Chairman Jin Seong-cheol shot at Jin Seo-joon, and Jin Seo-joon said as if making an excuse.
“Oh, Dad… that’s not it, I was raising funds.”
“done. Seoyeon’s money will be taken care of by her father. Seoyeon, drop the accusations immediately.”
Jin Seojun said.
“Father, the prosecution is not the problem. Share prices of not only telecommunications companies but also holding companies are going down steeply because of the buzz in the media. Father, this is no different from immorality.”
“Since I made an appointment with Chairman Lee of CY Group, the media will be quiet soon. Rumors about the stock market will be put to rest in the Strategy Room.”
“father! What about the stock price?”
“Oldest son, don’t stop talking to your father and listen. Seoyeon, buy some shares in the telecommunications company with the money you sold the duty-free business license. Next year it will go up significantly. That money should be enough for the amount of money you lost because of your brother, so just stop there. When it calms down a bit, I’ll let you sell your shares at the market price.”
When Seoyeon did not answer, Chairman Seongcheol Jin urged her.
“Answer me.”
“I’ll think about it.”
“Are you going to disobey Abby until the end? If that’s really the case, the decision to give U1 shopping will be nothing.”
Seoyeon said calmly.
“I know you have no intention of giving it to me anyway. Still, I will buy a stake in the telecommunications company.”
“You mean you don’t trust Abby?”
“I believe, because I believe, I am buying shares in the telecommunications company.”
Jin Seo-Jun, who couldn’t see it, intervened once again.
“Father, I will just collect all the rental money you gave to Yu-One Cosmetics and Yu-One DF. Seoyeon listens to you. If you don’t want to throw up the entire 300 billion won loan from Telecom in six months, do what your father said.”
Jin Seo-yeon snorted and said.
“That’s your brother’s true intention. Do whatever you feel like. I’m still looking for bank loans these days. Interest rates have come down a lot.”
“Both of you, stop. Seo-joon, go and do your work. Seoyeon, let’s talk to Abby some more.”
***
When Jin Seo-joon left the chairman’s office, Chairman Jin Seong-cheol came closer to Seo-yeon and spoke in a slightly friendly tone.
“Seo Yeon-ah, didn’t Abby offer U1 shopping? Why can’t you trust your father and raise your business?”
“Then give me Dad’s share of U1 Shopping. It’s still an emergency, so the timing is good. I will buy it with the 220 billion I received this time.”
“That, that’s…”
“You don’t like it? Dad, I’m so upset. Aren’t daughters even children?”
When Seoyeon came out unexpectedly strong, Chairman Jin Seong-cheol’s expression cooled down in an instant.
“I know what you mean. yes, do whatever you want Instead, Seoyeon, you won’t be able to take a single penny out of my pocket. stop going.”
“I’m sorry I couldn’t do what you wanted, Dad. I’ll go.”
Seoyeon, who turned around, was called by Chairman Seongcheol Jin.
“Seo Yeon-ah, did he make this?”
“yes?”
“Kang Ji-hyeok, did that shaman make you like this? If it’s really like that, I won’t let my bastard go.”
Seoyeon said in a calm voice.
“Dad, do you know what he said when we first met? I wanted to let go of my greed. If only I let go of my greed, the whole family will be harmonious.”
“You don’t seem to be a young pseudo. If you let go of greed, everything will be solved. Could it be that the father will make our youngest daughter a pauper?”
Seoyeon continued talking as if she couldn’t hear Chairman Seongcheol Jin.
“Dad, Mr. Jihyeok is… Not too long ago, I told them to give up their greed and get a small affiliate and grow it on their own. After hearing that, I asked for two subsidiaries that were all going bankrupt. He was the one who willingly invested in my company because I was having a hard time. But… my brother and my father ruined everything.”
After listening to it, it seemed that a guy named Kang Ji-hyeok was taking good care of Seo-yeon.
At a loss for what to say, Chairman Jin Seong-cheol coughed.
“Kuhmm…”
“Like my dad said, it’s true that I’m greedy. But, it wasn’t Jihyeok who made me like this, it was my dad and my older brother. You said you wouldn’t leave Jihyeok alone, right? follow your heart. If even a single hair on that person gets hurt… then you won’t see your father’s face again. I really want to go now.”
***
After leaving the president’s office, Seoyeon headed straight to the Vertical Movement office where Jihyeok was.
When Seo-yeon, with a flushed expression, entered, Dong-soo greeted her warmly.
“uh? Welcome, CEO Jin.”
“Is Jihyeok inside?”
“Yes, you are in the trading room. But he said no one should come in until the market closes…”
Looking at the clock, there was about an hour left until the market closes.
Seo-yeon said to the late secretary, who followed.
“Secretary Go, find out what events are going on with the news agency next year. It will be a big enough event to rise by several tens of percent, ignoring bad news.”
Secretary Go said as if he had just remembered something.
“if······.”
“Do you have anything in mind?”
“There is one bill pending in the National Assembly, but there are currently many opinions that it is difficult to pass. Even if it passes, the net profit of the telecommunications company will rise significantly.”
“Is there such a thing? What bill is it?”
From noble mtl dot com.
“The official name is the ‘Act on Improvement of Distribution Structure of Mobile Communications Terminal Devices’…”
“Ah… the single-tong method?”
Just then, the door to the trading room opened wide and Ji-hyeok walked out.
“Ah… did we talk too loudly?”
“no. Yujin and the team members are doing a good job, so I came out because I had nothing to do. Did you meet President Jin well?”
“Oh, look at my mind. My dad wants me to buy a stake in Yuwon Telecom with the money from selling the duty-free business license. They said that it would rise significantly next year, and that the money should be used to make up for the loss of cosmetics.”
“Hmm… looks like the bill will pass.”
Seoyeon was surprised and asked back.
“Did you know?”
“I bet with all my money, but I have to check that much. The single-tong method, right?”
“Secretary Go said that too, but I don’t know. It’s a good thing for Yuwon Telecom because it means the distributor subsidies are gone, but Ilsung Group is against it.”
“Circumstances can change at any time. wait a minute.”
Jihyeok went to his personal office and brought out a bundle of papers with the ‘Act on Improvement of Distribution Structure of Mobile Communication Devices’ written on it.
“When I first saw this, I thought it would be a very difficult bill to pass.”
The Act on the Improvement of the Distribution Structure of Mobile Communication Devices, also known as the Dantong Act, was well packaged with the words that it was a bill to prohibit discrimination against customers and prevent excessive competition.
When buying a 1 million won mobile phone, someone who is diligent and smart receives a 500,000 won discount, and someone who is lazy or does not like the flow of information receives a 100,000 won discount. The purpose was to improve the distribution structure transparently by eliminating the huge subsidy paid for the
At first glance, it may seem like a very good bill, but in reality, it is one of the worst laws that will only increase the net profit of telecommunication companies by advocating equality.
From the customer’s point of view, the opportunity itself to buy a new terminal at a low price through number portability is blocked at the source, and the opportunity to buy a terminal at a store that offers more subsidies by selling out is also blocked.
The number of telecommunications agencies will decrease significantly, and the number of unemployed will increase accordingly.
A bill only for telecommunications companies in charge of distribution.
That was the single method.
Seoyeon said after looking at the outline of the bill.
“It will be difficult to pass without the members of the National Assembly going crazy, right? Moreover, even the Ilsung Group opposes it…”
“Seoyeon tends to overestimate politicians. The National Assembly is a place where idiots with convictions gather. And even if he is pushed out in the business world, the arm that touches the political world will be longer than Chairman Jin’s. Wouldn’t it be the same as building a company of this size with the power of politics in the first place?”
Seoyeon blushed slightly and said.
“If I refute it, my face must be too thick, right?”
Jihyuk smiled and said.
“I have no preconceived notions in that direction, so don’t worry. In the first place, the United States where I grew up is a country where lobbying is legal. Anyway, this bill will be difficult to pass as it is.”
“So, did Dad lie to me?”
“well. He may have asked for the purchase of his own stock with the money he gave to his daughter because he did not have enough reserves, or he might think that the money was left with Seoyeon for a while in the first place. Either way, it seems to be true that Yuwon Group’s pockets have become lighter.”
“Yes, it will be temporary. The cash that comes into the telecommunications company every month exceeds hundreds of billions.”
Jihyuk smiled and said.
“Then we should speed things up a bit before the barn kicks in.”
Jihyeok immediately took out his phone and called Samuel.
“Sam, I need to go to Plan B.”
– Hey, Matthew. As for plan B, if the stock price doesn’t go up as much as we want, we could lose money too.
“don’t worry. That bill I talked about last time, I’m going to pass it. I know that because I will buy as much as possible by this week and call a shareholders’ meeting right away.”
– Okay, we’ll make a public offer announcement when the shareholders’ meeting is called.
Seo-yeon looked at Ji-hyeok, who said he would pass the bill openly, with a puzzled look.
“Mr. Jihyeok, won’t it make stock buying more difficult if the bill is passed?”
“I don’t think so, but it’s impossible to take over the management of Yuwon Telecom with the funds we have anyway. If a real crisis hits, Chairman Jin will defend his management rights by robbing him of slush funds.”
“Then what are you going to do?”
“We need to make our shareholders on our side and become the greatest threat possible. If we say that we will pass a bill that President Jin couldn’t pass, won’t the friendship stake increase?”
Seoyeon tilted her head and asked.
“If the stock price of the telecommunications company goes up, my dad and my older brother will like it the most…”
“No matter how much the stock price goes up, you two can’t sell that stock.”
For a group owner, a controlling stake in a group has value that cannot be exchanged for any large amount of money.
Jihyeok pointed out that.
“And crucially, even if it wasn’t me, my father would pass the bill. Starting next year, my father’s 10-year fortune will end, and he has tremendous wealth at the end of the fortune.”
“ah······.”
Jihyuk said with a sly smile.
“I’m sorry to my father, but I’ll have to borrow some money for that.”
***
That evening, after leaving Vertical Movement, the place Ji-hyeok headed was not at home, but at a fortune telling center.
Since we decided to only accept one customer per day, we usually received customers in the morning, but the customer who came today asked for a consultation after the sun went down, saying that it was a bit difficult to come in and out in broad daylight.
Ji-hyeok was also a guest who came at the right time, so he readily accepted the condition.
And now, in front of Ji-hyeok’s eyes, the reserved guest was radiating a mysterious look and asking for a handshake.
“You look much younger than you look in pictures. Nice to meet you, I am Lee Jae-seong of Il-seong.”
“I’ve been waiting for you, Vice President. I am Kang Ji-hyeok.”
Vice Chairman Lee Jae-seong was about to say something, but Ji-hyeok spoke first.
“Are you looking for Cheongdam Dosa? Or are you looking for Kang Ji-hyeok?”
Jaeseong Lee tilted his head and asked again.
“Is there a difference?”
“If you’re visiting Cheongdam Dosa, I’ll take care of fortune tellers or coronations, and if you’re visiting Kang Ji-hyeok, I’ll solve the troubles of the Ilsung Group.”
“Oh, Ji-Hyuk Kang is a little more interested. Yes, do you know what trouble I have?”
Instead of answering, Jihyeok took out a bundle of papers and showed it.
-thud!
“Please pass the Act on the Improvement of Distribution Structure for Mobile Communication Devices. We will change it so that Ilsung does not lose money.”
Lee Jae-seong, who was staring at Ji-hyeok, seemed to raise the corner of his mouth little by little, and soon began to laugh loudly.
“Ha ha ha ha ha.”
Then, he looked at Chief Choi Chul-gyu, who was sitting next to him, and said,
“Look at this. Didn’t you say you had to scout even for a trillion?”