＜ Taesung Group Executive Meeting (2) ＞
They said that if the meeting is long, it can take up to two hours.
‘I really thought we would have a meeting for over two hours. Aren’t these people tired? What’s so much to say?’
I wonder if the problem is that the motivation has risen too much.
It became like this after I found out that Wookwang Chemical, Wookwang Securities, and Wookwang Construction were made to eat raw.
The executives of Taesung Group began to snort and burn their greed.
“How about Woogwang Textile? Other things are mediocre, but polyester is the best in Korea.”
“Woo Kwang Jehwa is not bad either. It’s a fake of Prince’s rubber shoes, but mom’s sneakers were quite a hit.”
“I think Wookwang Mining will do just fine. As briquette boilers have become widespread, they say that in winter, as soon as they are produced, the briquettes are sold like hot cakes.”
These businesses aren’t bad.
only in the short term.
‘As Korea’s industrial structure becomes more sophisticated, textile and shoemaking, which are labor-intensive industries in the light industry, will gradually enter the declining industries.’
It has a golden color, probably because it belongs to the flagship product that contributes quite a lot to exports.
‘Because briquettes are a relatively inexpensive fuel in the era of high oil prices. It shines during the oil crisis, but in the 1980s, as the government’s coal industry rationalization policy was promoted, it became a declining industry.’
So far golden!
It was a business that worked well for several years and then sold it back at a high price.
‘Taesung Group executives have prepared a lot for the meeting.’
I have been diligently researching the data to the specific figures.
In addition, there were many cases where the long-term prospects and blueprints for the future of Taeseong were also secretly revealed.
‘You’re strong!’
It was an atmosphere where executives were not buried in ranks and exchanged opinions openly.
The grandfather and the presidents of affiliates diligently play with the pen and make memos a part of their daily life.
‘I think I know a little bit about how I’ve been leading the company so far.’
Everyone was eager.
The second eldest father also actively expressed his intention to take over Wookwang affiliates.
‘We prepared the most expandable method under the same budget. I can’t believe I picked out as many as 12 companies.’
Besides, if not all of them are silver, they are faintly golden.
‘You’re very good at calculating gains and losses? I worked a lot to avoid losing money.’
So sorry.
‘The barrel is small. A good opportunity came after a long time, but it stopped at increasing small affiliates.’
It was an opportunity that was hard to come by.
Opportunities to devour Woo-gwang, who was ranked 9th in the business world, are rare.
‘At times like this, I’ll have to choose a bigger one and eat it until my stomach bursts.’
Grandpa knew that, so he was not overjoyed at the second uncle’s words, even though he nodded.
I don’t know if the second son’s ability will be put to good use once the company stabilizes, but now was the time to expand the business.
In the end, it feels like putting more weight on the words of the eldest son.
“What is the opinion of Taesung Department Store? Are you guys going to beg to take over Wookwang Department Store?”
“Woogwang Department Store won’t eat it even if you give it to me! joy!”
My aunt swung her short hair and snorted.
“I’d rather take over the Woogwang Newspaper, Woogwang Broadcasting, or Woogwang Theater.”
I felt it when I was shopping.
My aunt’s shopping standards were really simple.
I chose clothes and accessories based on whether they were pretty or not pretty, and whether they looked good or not.
The criteria for acquisition of Wookwang affiliates were also similar.
‘I’ve been looking for companies to acquire based on Taesung’s influence and whether or not they can spread word of mouth.’
Wookwang Newspaper’s sh*t color, Wookwang Broadcasting’s sh*t color, Woogwang Theater’s golden color.
‘The first thing the next administration did was to shut down the press.’
Media consolidation is a media control policy implemented through the National Security Emergency Response Committee.
Under the pretext of improving the structure of media companies, the plan was to organize the overcrowding of newspapers, broadcasting companies, and news agencies and introduce a public broadcasting system.
However, in reality, the intention was to dismiss journalists who were resistant to the regime and to make the media conform to the system.
Thanks to this, the Woo-Kwang Newspaper is closed, and the Woo-Kwang Broadcasting is merged into a state-run broadcasting company and taken away.
‘I don’t know if it’s the 90’s. Right now, newspapers and broadcasting stations are likely to be beaten with a mace just for having them.’
Again, with a red colored pencil, I drew Xs in the Woogwang Newspaper and Wookwang Broadcasting.
“Does Taesung Construction have any other opinions?”
“doesn’t exist.”
My father listened silently, but he never opened his mouth.
“It’s a process of collecting opinions, but you have to show sincerity in participating. say it.”
“What would a kid like me know?”
The father’s voice was humble.
“Until last year, I was only the executive director of Taesung Construction, and it’s because I didn’t know anything because I had been wandering around the provinces and the Middle East for a long time.”
“You are now the CEO of Taesung Construction. If you are the boss, you should show the direction like a boss. Even a child can dream of Taesung’s future.”
“I came in with the idea of Wookwang Construction, but I won’t go into lengthy discussion because I think President Shim will take care of it and take over it.”
Father chose his horse.
“Still, if you think about the future of Taesung, I think it would be a good idea to review Wookwang Hospital, Wookwang Pharmaceutical, Wookwang Research Institute, and Wookwang Scholarship Foundation among affiliates of Wookwang Group.”
Wookwang Hospital and Wookwang Pharmaceutical are dazzlingly golden.
‘It is located in a location with good accessibility and is reborn as the No. 1 anti-cancer hospital in Korea in connection with Waseda Hospital in Japan.’
Germany and Japan were famous for being advanced anti-cancer countries.
‘Because Wookwang Pharmaceutical pays royalties for a technology agreement with Yougi Pharmaceutical in Japan, and has several hit products on the pharmaceutical side.’
On the other hand, Woogwang Research Institute and Woogwang Scholarship Foundation were black.
“You paid attention to the business of saving people and the business of saving the country.”
“If you think about the future of Taesung, I think it is a place worth investing in.”
“It’s a place where you can’t make money right away and only have to invest. How are you going to make up for the shortfall?”
“Is Taeseong that poor?”
Father answered calmly.
“Even if you starve today, you have to leave seeds for next year’s farming. If you think of it as an investment for the future, there’s nothing you can’t do, right?”
Regarding this, the opinions of Taesung Group executives were greatly divided.
“Isn’t Woogwang Research Institute a money-eating hippo? Isn’t the performance that comes out compared to the doctors’ salaries and investment money snot?”
“The Woogwang Scholarship Foundation? It’s a scholarship every year, and hundreds of millions of won go into it, but the money given to students is only millions of won, isn’t it a hotbed of private school corruption? Need a money launderer?”
Opinions in sympathy as well as opinions in opposition were voiced.
“Isn’t it Taesung when it comes to technology development and investment? We must risk our lives and invest in technology development. We need to take over the Wookwang Research Institute.”
“I have always thought that it is time to focus on nurturing talented people in order to supply and demand quality human resources. If it is a private school owned by Woogwang Scholarship Foundation, it is quite good.”
Hmm, my dad is good at turning off aggro in odd places.
Actually, my father’s choice is not so bad.
‘The odds are counter-threshing, the results are extreme.’
Executives’ support for the father was also divided into two extremes.
“Considering the future growth of Taesung, investment for the future is absolutely necessary.”
President Shim was especially among those who enthusiastically supported his father.
“The lack of funds can be supplemented by growing other affiliates. However, continuous growth cannot be expected from a company that does not think of the future.”
I could understand why President Sim chose his father.
“I think it is an issue that must be reviewed in that it presents a direction for Taesung’s future.”
Shim had an exceptional ability to grow the business.
For example, based on a business fund of 1 billion, Taesung Chemical was raised to a 30 billion won business in 7 years.
‘If you’re President Sim, you’re the right person to make up for your father’s shortcomings. I think I know why my grandfather assigned Sim to my father.’
Of course, if you serve a boss who makes a lot of distribution like your father for a long time, you will not be able to escape from overwork and high blood pressure.
Well, you say you like it, but you’ll sell it too.
bang!
The grandfather slammed the podium and drew the attention of the audience.
“stop. Acquisition of affiliates is an important event for Taesung’s future. It is not enough to carefully review and review again.”
“Yes, Chairman.”
“Since we have heard the executives’ will, we will conclude the detailed discussion at the affiliate presidents’ meeting.”
“Yes, I understand.”
It was a meeting of the executives of all affiliates gathered for that purpose.
A place to listen to each affiliate’s grievances and future plans, review data on Wookwang’s acquisition of affiliates, and gather opinions before discussing specifics.
That was the purpose of today’s affiliate executive meeting.
“If you do this, it seems that everything that needs to be said has come out.”
It was a call to end the meeting.
My grandfather looked back at the executives and our eyes met.
I bowed my head.
I put the red colored pencil well into the 12 colored pencil case.
It was because the work of numbering Wookwang affiliates from 1st to 41st was completed.
“Since it was a meeting with a lot of stakes, everyone must have been confused. Sometimes you need time to organize your thoughts a little simpler. Jung Hyuk.”
“yes?”
It was called out of the blue, so I answered in a haphazard way.
“What do you think?”
“Me?”
My eyes widened spontaneously.
I poked my chest with my index finger.
“I don’t have a say today?”
“You were nice and calm on the tour, weren’t you? After the tour, I should listen to your impressions.”
in front of so many people?
Didn’t you promise me that you would keep your mouth shut while risking your little finger because you didn’t like me talking about it?
“President!”
The father opened his mouth in surprise.
“He’s only an eight-year-old kid.”
“Do you think eight-year-olds don’t have brains? If it’s Taeseong’s future, even a kid can dream.”
“Chairman, you are asking too much of Jung Hyuk. Jeonghyeok today is just…”
Grandpa laid the boards himself, I can’t disappoint you.
“great. I’ll do it, announcing my impressions of the field trip.”
I decided to open my mouth before my father gets into more trouble.
How difficult is this?
“Three things. I have something I want to ask the executives.”
“Three?”
I put my finger on it.
“First, it costs a lot of money, so why is no one considering acquisitions by dividing them into long-term and short-term terms?”
Subsidiary mergers and acquisitions are also a type of investment.
Investing needs to be divided into long-term and short-term investments.
Long-term investment is like a good stock held for a long time, and short-term investment is like a rapidly rising stock that hits and misses when it goes up.
“…!”
When the meeting was over, the sound of sorting out the paperwork before going out suddenly stopped.
There was also an executive who took out a fountain pen that had been closed to the top and took notes.
“It certainly is. As I was focusing on finding Woogwang’s real affiliates…”
“Kuhmm, stop thinking about taking over Woogwang’s affiliates as a mid- to long-term investment.”
“I heard that there are companies specializing in M&A abroad. A company that takes over an insolvent company, restructures and cleans up the industry, and then splits it up and resells it at a high price.”
“I heard that it is very profitable. Isn’t it bad to buy Wookwang affiliates and resell them?”
Since it is not a company that has been developed with great care over a long period of time, there is nothing to be attached to when it is split up and sold.
More and more eyes were on me.
Either that or not.
I picked up one more finger.
“Second, why do you decide whether to make an acquisition based on the assumption that market conditions will be similar?”
Will there be a second oil shock sooner or later?
“Shouldn’t it be reviewed by dividing it into when bad news is expected and when it is not?”
One of the executives chuckled.
“You seem young, so you don’t know what to do.”
“You stay still! The person who has the right to speak now is Jung Hyuk!”
The grandfather stopped the executive who seemed to have a lot to say and opened his mouth instead.
“Jeong Hyuk, the market situation has always been fluid. Do you think we didn’t even consider that?”
“When the oil crisis broke out a few years ago. How was it then?”
Taeseong was also greatly staggered by the unexpected world event-level bad news.
“That, that’s…”
A few years ago, as the war broke out in the Middle East, the whole world suffered from the sudden oil shock.
When Korea was suffering from high oil prices, did Taeseong not tighten his belt?
At that time, Taesung’s affiliates, which had to be sold with tears in their eyes, were said to be three or four.
“My dad received an invitation to the Blue House luncheon. Does anyone know why I got it?”
Yes, I was able to receive it because the possibility of the second oil shock that I told the president was recognized.
All eyes were on the father at once.
＜ Taesung Group Executive Meeting (2) ＞ End