Chapter 105: The Right Questions

If the meeting is long, it can easily last more than two hours.

‘I really thought we’d be in a meeting for over two hours. Don’t these people get tired? Why do they have so much to say?’

I wonder if the problem is that my motivation is too high.

This is what happened after I found out that I would be eating up Wookwang Chemical, Wookwang Securities, and Wookwang Construction.

Taesung Group executives began to breathe heavily and become greedy.

“What about Woogwang Textiles? Everything else is just okay, but when it comes to polyester, they are the best in the country.”

“Woo Kwang Shoes are not bad either. They are a knockoff of Wang Ja-Pyo’s rubber shoes, but Mom’s sneakers are quite a hit.”

“I think Woogwang Mining will be okay too. I heard that as coal briquette boilers become more widespread, they sell briquettes like hotcakes in the winter.”

These businesses are not bad.

But only in the short term.

‘As the industrial structure of the Republic of Korea becomes more advanced, labor-intensive industries such as textiles and shoemaking will gradually become declining industries.’

It is golden in color, perhaps because it is a major product with a significant export contribution.

‘In an era of high oil prices, briquettes are relatively cheap fuel. They were popular during the oil crisis, but they became a declining industry in the 1980s as the government pursued a policy of rationalizing the coal industry.’

So far so good!

It was a business that was perfect for running well for a few years and then reselling it at a high price.

‘It looks like Taesung Group executives have prepared a lot for the meeting.’

We have been diligently researching the data, down to the specific figures.

In addition, there were many cases where long-term prospects or blueprints for Taesung’s future were briefly revealed.

‘It’s sturdy!’

It was an atmosphere where executives could freely exchange opinions without being caught up in hierarchy.

My grandfather and other affiliate company presidents are also diligently using their pens and making note-taking a part of their daily lives.

‘I think I have a little idea how you’ve been running the company so far.’

Everyone was enthusiastic.

My second eldest uncle also actively expressed his intention to acquire the Wookwang Group affiliate.

‘You’ve prepared a plan that will allow the greatest expansion within the same budget. You’ve chosen as many as 12 companies.’

Besides, they are not all silver, but rather a faint gold color.

‘You’re really good at calculating pros and cons. You must have thought a lot to avoid any losses.’

That’s why it’s a pity.

‘The barrel is small. A great opportunity has come, but it is stopping at increasing small affiliates.’

It was an opportunity that was hard to come by.

It is not common to have the opportunity to take advantage of Woo Kwang, who was ranked 9th in the financial world.

‘In times like this, you should choose something big and eat until you’re full.’

My grandfather knew that, so he nodded his head at my second uncle’s words, but he wasn’t particularly pleased.

The second son’s abilities might be put to good use once the company stabilizes, but now is the time to expand the business.

In the end, it feels like the eldest son’s words are given more weight.

“What do you think of Taesung Department Store? Are you guys also going to ask to take over Wookwang Department Store?”

“Even if Woo Kwang Department Store gives it to me, I won’t eat it! Huh!”

My aunt snorted, her hair bobbing in the wind.

“It might be different if they take over Wookwang Newspaper, Wookwang Broadcasting, and Wookwang Theater.”

I felt it even when I was shopping.

My aunt’s shopping criteria were very simple.

I chose clothes and accessories based on whether they were pretty or not and whether they suited me or not.

The criteria for acquiring Wookwang affiliates were also similar.

‘They’ve been selecting companies to acquire based on their influence and whether or not they can spread word of mouth.’

Woogwang Newspaper is shit-colored, Woogwang Broadcasting is shit-colored, Woogwang Theater is gold-colored.

‘The first thing the next administration did was to consolidate the media.’

The media consolidation measure is a media control policy implemented through the National Security Emergency Measures Committee.

The plan was to reorganize the proliferation of newspapers, broadcasting companies, and news agencies and introduce a public broadcasting system under the pretext of improving the media structure.

But in reality, the intention was to fire journalists who resisted the regime and make the media conform to the system.

As a result, Wookwang Newspaper was closed and Wookwang Broadcasting was taken away and merged into a state-run broadcasting station.

‘It might have been different in the 90s, but these days, just having newspapers and broadcasting stations is likely to get you hammered.’

This time too, I drew an X on the Wookwang Newspaper and Wookwang Broadcasting with a red pencil.

“Does Taesung Construction have any other opinions?”

“doesn’t exist.”

My father just listened silently and didn’t open his mouth to say anything else.

“This is a process of gathering opinions, so you should show your sincerity in participating. Tell me.”

“What would a novice like me know?”

My father’s voice was humble.

“Until last year, I was nothing more than the executive director of Taesung Construction, and I spent a long time wandering around the provinces and the Middle East, so I don’t know anything.”

“You are now the president of Taesung Construction. As the president, you should show the direction like a president. Even Aesong can dream of Taesung’s future.”

“I came here thinking of Wookwang Construction, but I don’t think President Shim will take charge of it, so I won’t say anything further.”

Father chose his words.

“However, if you think about Taesung’s future, I think it would be a good idea to look into Wookwang Hospital, Wookwang Pharmaceutical, Wookwang Research Institute, and Wookwang Scholarship Foundation among Wookwang Group affiliates.”

Wookwang Hospital and Wookwang Pharmaceutical are dazzlingly golden.

‘It is located in a place with good accessibility and is collaborating with Waseda Hospital in Japan to become the number one cancer hospital in Korea.’

Germany and Japan were famous as advanced countries in anti-cancer treatment.

‘Woogwang Pharmaceutical pays royalties for a technology agreement with Japan’s Yogi Pharmaceutical, and has several hit products in the pharmaceutical sector.’

On the other hand, the Wookwang Research Institute and the Wookwang Scholarship Foundation were the color of black shit.

“You focused on the business of saving people and the business of saving the country.”

“If you think about Taesung’s future, I think it’s a place worth investing in.”

“It’s a place where you can’t make money right away and you have to invest. How are you going to cover the shortfall?”

“Is Taesung that poor?”

My father answered calmly.

“Even if we starve today, we should save seeds for next year’s farming. If we think of it as an investment for the future, there’s nothing we can’t do, right?”

The opinions of Taesung Group executives were greatly divided on this matter.

“Isn’t Wookwang Research Institute a money-eating hippopotamus? Compared to the salaries of doctors and the investment funds, the results are just a drop in the bucket.”

“Woo Kwang Scholarship Foundation? Every year, hundreds of millions of won are spent on scholarships, but only a few million won is actually given to students. Isn’t it a hotbed of private school corruption? Do you need a money laundering center?”

The number of voices in agreement was just as loud as those in opposition.

“If you invest in technology development, isn’t that a success? You have to risk your life and invest in technology development. You have to acquire Wookwang Research Institute.”

“I have always thought that it is time to focus on nurturing talent in order to secure quality human resources. If it is a private school owned by the Wookwang Scholarship Foundation, it is a good choice.”


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Hmm, my dad is good at drawing aggro from strange places.

Actually, my father’s choice isn’t that bad.

‘The odds are against it, and the results are extreme.’

Executives’ support for the father was also polarized.

“Considering Taesung’s future growth, investing in the future is absolutely necessary.”

President Shim was one of those who particularly enthusiastically supported his father.

“You can make up for the lack of funds by growing other affiliates. However, you can’t expect sustainable growth from a company that doesn’t think about the future.”

I could see why President Shim chose my father.

“I think this is an issue that must be reviewed in terms of suggesting a direction for thinking about Taesung’s future.”

President Shim had an extraordinary ability to grow a business.

For example, Taesung Chemical was grown into a 30 billion won business in just 7 years based on operating capital of 1 billion won.

‘President Shim is the perfect person to make up for my father’s shortcomings. I think I understand why my grandfather chose President Shim for my father.’

Of course, if you work for a boss who is as loud as your father and always distributes his work, you will inevitably die from overwork and high blood pressure.

Well, if you like it, you should sell it too.

bang!

The grandfather slammed the stage and drew everyone’s attention.

“Stop it. The acquisition of an affiliate is a major matter that will determine Taesung’s future. We need to carefully review it again and again.”

“Yes, sir.”

“We have heard the executives’ opinions, so we will finalize the specific discussions at the meeting of the affiliated company presidents.”

“Yes, I understand.”

It was a meeting of executives from all affiliated companies gathered for that purpose.

A place to listen to the grievances and future plans of each affiliate, review the materials for Wookwang’s acquisition of affiliates, and gather opinions and ideas before discussing specific matters.

That was the purpose of today’s affiliate executive meeting.

“I think I’ve said everything that needed to be said.”

It was a call to conclude the meeting.

My grandfather looked around at the executives and our eyes met.

I nodded my head.

I put the red pencil neatly into the 12-color pencil case.

This was because the task of numbering the data of Wookwang affiliates from 1st to 41st was completed.

“It must have been a complicated meeting, with so much at stake. Sometimes, you need to take the time to organize your thoughts a little more simply, Jeonghyeok.”

“yes?”

Since I was called out of the blue, I answered in a panic.

“What do you think?”

“Me?”

My eyes grew wide on their own.

I poked my chest with my index finger.

“I don’t have a say today?”

“You were nice and quiet during the tour, right? After the tour is over, I should hear you share your thoughts.”

In front of so many people?

Didn’t you make me promise to keep my mouth shut by crossing my little finger because you didn’t like me showing off?

“Mr. Chairman!”

My father opened his mouth in surprise.

“She’s only an eight-year-old child.”

“Do you think an eight-year-old child has no brain? If it’s Taesung’s future, even Aesong can dream.”

“Mr. Chairman, you are asking too much of Jeong-hyeok. Today, Jeong-hyeok is just······.”

My grandfather laid the board for me himself, so I can’t disappoint him.

“Okay. I’ll do it. I’ll share my thoughts on the tour.”

I decided to open my mouth before my father got into more trouble.

What’s so difficult about this?

“Three things. I have something to ask the executives.”

“Three?”

I counted my fingers.

“First, it’s a big money issue, so why isn’t there anyone who is considering the acquisition by dividing it into long-term and short-term?”

Mergers and acquisitions of affiliates are also a type of investment.

Investments need to be divided into long-term and short-term investments.

Long-term investments are like holding on to quality stocks for a long time, and short-term investments are like hitting and exiting a rapidly rising stock to make a profit.

“······!”

After the meeting, the sound of people organizing documents in preparation for leaving suddenly stopped.

There was even an executive who took out a fountain pen that had been closed and took notes.

“That’s certainly true. As I was getting more and more enthusiastic about finding the best affiliates of Wookwang······.”

“Ahem, if I were to do that, I’d rather acquire Wookwang’s affiliates while making mid- to long-term investments······.”

“I heard that there are companies overseas that specialize in M&A. They are companies that acquire insolvent companies, restructure and reorganize the industry, and then break them up and resell them at a high price.”

“I heard that it is very profitable. Isn’t it a good idea to buy Wookwang affiliates and resell them?”

Since it is not a company that has been nurtured for a long time, there is no need to feel attached when selling it off.

More and more eyes are being focused on me.

Whatever.

I counted one more finger.

“Second, why do you decide whether to acquire or not based on the assumption that market conditions will be similar?”

Is there going to be a second oil crisis any time soon?

“Shouldn’t we examine it by dividing it into when bad news is expected and when it is not?”

One of the executives snickered.

“You see, Your Majesty, you are young and don’t know much.”

“You stay still! The one who has the right to speak now is Jeong-hyeok!”

The grandfather covered the mouth of the executive who seemed to have a lot to say and spoke instead.

“Jeonghyeok, the market situation has always been fluid. I wonder if we didn’t take that into consideration as well?”

“When the oil crisis happened a few years ago. What was it like then?”

Taesung was also greatly shaken by the unexpected world-class disaster.

“That, that······.”

A few years ago, as the Middle East war broke out, the world was struck by the sudden oil crisis.

When Korea was struggling with high oil prices, did Taesung not tighten his belt?

At that time, I think there were three or four subsidiaries of Taesung that had to be resold with tears in their eyes.

“My dad got an invitation to lunch at the Blue House. Does anyone know why he got it?”

Well, it was accepted because the possibility of a second oil shock, which was mentioned to the president, was acknowledged.

Everyone’s eyes were all focused on the father.