230. Blow your nose without touching your hand
delusion of thought.
It would be the word that can best describe the current Daewoo Group.
A castle built on the sand castle of 27 trillion won worth of fraudulent accounting fraud.
That was Daewoo Group.
Daewoo Group’s fraudulent accounting cases were carried out so skillfully and professionally that it was later called ‘the textbook of accounting fraud’, and most of them were directly ordered by Chairman Kim Joong-woo.
‘How the hell does Yun Ho-young know? just floating? no···. Did I mention the name Artek correctly? He must know something.’
The drawing room of the Hermes Building.
Kim Joong-woo was anxiously waiting for Ho-yeong.
If you know Kim Joong-woo’s personality in general, it was clear that he would feel very strange about him showing such an agitated appearance.
This is because most of the people recognized Kim Joong-woo as a hot-headed, passionate, and driven person.
‘damn! I don’t need to bow down like this even if I find out how the hell I found out!’
But now Kim Joong-woo was thoroughly weak in front of Ho-young.
The world still did not know that he managed the Daewoo Group in this way, so they only thought of him as a mythical manager.
So he had no desire to lose his current reputation.
Because his image was also one of the important roles in feeding the group.
“See you in a week. You worked hard to get here.”
“Yun Ho-young… Chairman.”
In the middle of his thoughts, Hoyoung came into the parlor and greeted him, and Kim Joong-woo replied with a growl.
“Have you thought about it? Why did I ask to see the president?”
“Okay… To be honest, no matter how much I think about it, I don’t know… cow.”
Kim Joong-woo said to Ho-yeong with a painful face.
The way he spoke to Hoyeong had risen from the lower class to the half-respect level.
“I told you the other day at the Daewoo Building… I came to help the president.”
“You want to help me?”
“Since you are very interested in what goes on in the world, I think you know who I am.”
Before Kim Joong-woo actually came to meet Ho-young, he diligently probed his back.
He also commissioned a private detective for Ho-young, and also browsed the information held by a big politician.
“What answer do you want? Founder of H&H? Chairman of Hermes Telecom? If that’s not the case… The real owner of Gaia Investments?”
Ho-yeong puts her finger in time with Kim Joong-woo’s last words! and bounced
“you’re right. That’s it. In fact, I am running a huge amount of money from Gaia Investments.”
Kim Joong-woo put on a puzzled expression as he did not understand what the hell he was talking about.
But fortunately, Hoyoung immediately followed up and cleared his curiosity.
“Are you sure you need more money?”
“What, what do you mean?”
“It is as you have heard. Now, Daewoo Group is a company that continues to grow even in the midst of such chaos in Korea’s economy. I see that very highly.”
Kim Joong-woo was unable to grasp the true meaning of Ho-young’s words, so he only stared at him with blinking eyes.
I thought he would threaten something about accounting fraud, but suddenly he would lend me money.
“ah! Of course, I don’t think it’s easy to understand why I suddenly say this. But if you listen to why I am making this suggestion, you will probably understand.”
“Why?”
“Because I know the management method of the Daewoo Group.”
“What···?”
Kim Joong-woo started to get annoyed.
He wasn’t usually the type to have a long conversation like this.
He is the kind of person who prefers to bully his subordinates rather than explain things slowly.
He didn’t have the patience to put up with Hoyeong’s puns.
“Tell me exactly what the hell you want to say!”
“I liked the chairman’s management style.”
“…?”
“The determination to be able to make decisions without hesitation in accounting manipulation in order to produce results, and the flexibility to maintain aggressive management by raising funds even if it is false, inflating profits are all the virtues of a manager I wanted.”
“her···.”
Kim Joong-woo let out a laugh at Ho-yeong’s unexpected words.
“Actually, that’s not all. Daewoo’s tankism has been an ideology that I think deserves to be followed.”
This time, Hoyoung spoke to Kim Jungwoo in a calm tone.
Tankism has been the slogan that Daewoo Group has been pushing since 1994.
It meant that any product produced with the Daewoo mark should be made as strong as a tank that can withstand being hit by shells.
In fact, the products produced by the Daewoo Group around this time were all robust.
It was advertised as an electronic device that could work even if you smash it with a hammer and step on it with a car.
Kim Joong-woo looked at Ho-yeong with mischievous eyes.
I tried to infer what Hoyoung wanted to say, but nothing came to my mind yet.
“ruler. So, now to the main point…”
When Hoyeong said that it was the main topic, Joongwoo Kim unknowingly pulled himself closer to Hoyoung.
Hoyeong paused for a moment, then opened her mouth again.
“Don’t you need more money to grow your business? May I lend you some?”
“money? Could you elaborate?”
Hoyeong didn’t answer right away and leaned on the sofa looking at Kim Joongwoo.
“It is literally. It is expected that the company will have a hard time right now because of the foreign exchange crisis. Don’t you need more money?”
Kim Joong-woo also did not immediately respond to Ho-yeong’s answer.
Of course, it was true that the current Daewoo Group was facing a very difficult situation.
However, he was nonetheless Kim Joong-woo, who had decades of experience running a large company.
He was not the kind of person who would listen to Hoyoung straight away when he lent him money.
“What do you want?”
“You want it?”
“If Gaia Investment lends you money, you probably didn’t create this event just to lend me a penny, and I’m a person who thinks that big money has a reason. Tell me what the reason is.”
Hoyoung smiled deeply after hearing Kim Joongwoo’s words.
“What kind of gain do people who play with money want? Just pay the interest. We are well aware of the fact that Daewoo Group is having a hard time recently. Well, I wonder if there is any company in Korea that is not struggling right now.”
Hoyoung thought he could hear Kim Joong-woo’s head spinning from here.
“you’re right. It is true that it is difficult. By the way, how much are you going to lend me?”
“Wouldn’t one trillion be enough to put out an urgent fire?”
“group 1?”
Kim Joong-woo was a little surprised and breathed in vain.
At most, I thought of 50 to 60 billion, at most 100 billion, but I never thought to say a whopping amount of 1 trillion.
“yes. If that is not enough, I can lend you 100 to 200 billion more. Unfortunately, I have borrowed a lot of money these days, so it will be a little difficult for me to do more than that.”
“That, you don’t need that much. One trillion is enough.”
The moment he uttered the word “group 1,” Kim Joong-woo didn’t realize that he was completely honoring Hoyeong.
“I’m glad then. Perhaps with that amount of money, don’t you think there’s a real possibility of becoming number one in the financial world?”
Kim Joong-woo’s eyes widened when he heard that he was number one in the business world.
Currently, the Daewoo Group’s resumption ranking is 3rd.
With an overwhelming gap, the Daehyeon Group ranks first in Korea’s business world rankings, followed by the Myungsung Group.
And the third place was Daewoo Group, followed by LS Group and others.
Kim Joong-woo quickly shook his head.
If 1 trillion won was injected, it was clear that it would be possible to inflate performance by using the funds and borrow more money to inflate at least 2 to 3 trillion won.
In the current situation, if we can maintain more aggressive management even by pouring trillions of won…
‘At least I can hold on for three or four more years. And if I hold on until then, my world might really come. Heaven sent Chairman Yun Ho-young to help me.’
Kim Joong-woo firmly believed that he could do it.
“good. There are two conditions on which I will lend you money.”
“Tell me.”
“First of all, I think the interest rate is 10% per annum. Can you afford it?”
“sure! If you borrow that amount, 10% per year is no different from borrowing it very cheaply.”
“The second condition is that you need collateral. In fact, it’s no different than trusting and lending to the president… Since this is a loan, not an investment, I need a reason to convince our company’s executives.”
“If you say collateral…”
Hoyoung laughed haha and said as if it was nothing.
“Well, as usual, you can put the goods as collateral, or you can set up a guarantor. ah! What do you think about putting stocks as collateral? I’m telling you in advance in case you misunderstand, but I’m not talking about a stock option-like concept, it’s just collateral. Even if the price of Daewoo Group’s stock grows further, we will not claim any rights to the increased amount. As long as you pay them back properly.”
“Then, in my opinion, stocks would be the most appropriate.”
Kim Joong-woo sang joy in his heart.
It was because, according to what Hoyoung said, it seemed like it would come off really cleanly, without the need for complicated contracts or conversations.
In fact, he liked loans more than investments.
If you receive an investment, the profit you have to give to the investor grows as the company grows, but the loan only needs to be repaid as it was originally set.
‘Then, if I can’t meet the schedule, I can pay back the principal even if I block it, so there’s no reason to lose my stock.’
Now Kim Joong-woo was absolutely convinced that the conditions were favorable to him.
“Then the conversation will be fast.”
“Do you have any stocks you want to use as collateral?”
“Well, as long as the price is right, it doesn’t matter where you go. However, stocks of currently listed affiliates will be a little difficult. The company is a bit reluctant to stocks with liquidity.”
“So you mean you want shares in unlisted affiliates?”
“Exactly, yes. As far as I know, Daewoo Motors is known as an unlisted stock company…”
“That’s right. However, although IPO and listing have not yet been made, the market capitalization of Daewoo Motors will not be less than 1 trillion won. That might not be enough.”
Hoyoung said with a friendly smile.
“Still, isn’t Daewoo Motors a symbol of the Daewoo Group? I don’t know if it’s possible, but if you put all of Daewoo Motors’ stocks as collateral, I’ll persuade you well. Aren’t I the representative of Gaia Investment? I also want to see my favorite Daewoo group do well.”
Kim Joong-woo felt that Ho-young was truly giving for him.
Then, suddenly, one last anxiety flashed through my mind.
“Can I ask you one thing?”
“However much.”
“In the world, Chairman Ho-Young Yoon did this. What are your gains?”
“benefit···. It’s an advantage…”
Ho-young repeated the word gain, but smiled at Kim Joong-woo and said.
“In the future, when the Daewoo Group went beyond Korea and became a global company, can you tell us that Gaia Investment was with you at the most important moment? That is what I want most.”
“Ah, maybe…?!”
Kim Joong-woo made an expression that he knew something.
Hoyoung looked at that face, nodded, and said with a slightly embarrassed face.
“you’re right. To be honest, I have plenty of money now. I want to go for fame and power.”
“It was too. It was like that. ha ha ha! Do not worry. That’s what I specialize in. Now is···. Chairman Yoon is too young, but even after 5 years, I will take over one nomination. ha ha ha! Wow, what an ambitious man!”
Kim Joong-woo laughed at Ho-young’s answer, wondering how interesting it was.
And after talking a little more, the two decided to send the detailed contract in writing and parted ways.
Returning to Daewoo Group, Kim Joong-woo’s expression was very bright unlike when he entered.
There was no way he could see Kim Joong-woo returning, but Ho-young looked out the window at Gangnam-daero and talked to himself.
“All I need now is time.”
In 2000, the Daewoo Group was completely ruined.
Even if Ho-young changes the course and direction of the foreign exchange crisis and the Daewoo Group survives a little longer thanks to the money he lent, it will take 2001 for Daewoo to fail.
If that happens, the amount Hoyoung can collect as interest over four years is 400 billion won.
40% of the principal is to be recovered and entered, and since this money is a loan, not an investment, you will be able to get some of it back even if you go bankrupt.
In the end, if that happens, Ho-yeong will be able to own a Daewoo car without lifting a hand.
“Now, we need to start developing automotive software for autonomous driving and various electronic devices.”
However, Hoyoung just started preparing for the next job as if he had just bought something at a corner store.