[208] Securing a location 5
“Yes. Aren’t there a lot of companies that suck cash, such as Sunyang Electronics Co., Ltd.? It is rumored that it is difficult to deal with the accumulated company reserve money.”
don’t listen to me anymore
“Do-joon, are you pretending to be innocent right now? Or do you want to get me into trouble?”
His complexion burned red like a flame.
“Uncle. Now is not the time for sibling struggles. You know that credit card companies need trillions of money to flow normally, right? Did you see the government announcement? It is said that only the insolvent amount is 90 trillion. What percentage of the Chunyang card will be insolvent? You have to start extinguishing it before a bigger fire breaks out.”
“Are you saying that because you don’t know your uncle? Do you think my older brother would lend me even ten won from the company’s reserves? He is the one waiting for me to fall.”
“I know. Everyone knows that the two of you are struggling right now, but I don’t know? So please don’t ask me to lend you money.”
“What if I don’t ask? did you remove it? Do you even steal?”
“no. Blackmail me into borrowing money.”
“what?”
Looking at the vibrator vice president with his mouth wide open with a red complexion, he scratched the itchy spot.
“If the Chunyang Card fails to overcome this hurdle, it will inevitably go bankrupt. Did your uncle tell you too? Government support is hard to come by. Then it’s left with its own solution, which is not a complicated issue. I have to fill it with money. If you don’t have money, you’re bankrupt.”
“so? Shall I go bankrupt?”
“Say that you are bankrupting. If the card goes bankrupt, core affiliates of the Sunyang Group, such as heavy industry construction, which lent money to the credit card company, will be shaken.”
Vibrator’s eyes shook first.
The thing he fears the most is being evaluated as the second son who is less than the eldest son. Subsidiary stock prices sometimes go up and sometimes they go down. However, on the day of a crash, you have to deal with the cold stares of outside institutional investors and executives.
More risky is the group’s overall share price.
“I figured it out enough. 10% of the controlling stake in the group owned by the two uncles. It’s cleverly mixed. From the outside, it seems like the affiliates have been completely separated, but if one person’s stock goes out, the dominance weakens.”
Insider trading is fine, but as soon as the three of us stocks go outside, the total share ratio starts to change.
“Warn that the only way to prevent Sunyang Card from going bankrupt is to sell stocks in core affiliates such as heavy industry and construction.”
“You know I don’t sell, right? Likewise, my brother knows. We will not give up the Sunyang Group even for a moment.”
“What did I say? Did you say a warning? Threats are not words. It shows by action. To the point where I feel like I really have no choice but to sell the stock.”
“Action?”
“Stop the cash service.”
“hey!”
I don’t know what it means for a service company to discontinue service. I waved my hand at my uncle who screamed in surprise.
“it’s okay. Because it’s temporary. If the service of Sunyang Card is discontinued, the stock price will drop from that point on. Will only the cards fall out? No. The share price of the entire group falls. That’s a threat.”
I could see the vibrator vice president diligently rolling his head.
“If there were just two outages, everyone would change their minds. You will feel that the cruiser card may go bankrupt.”
“Brother moves to prevent the worst…?”
“Won’t you eat mustard while crying?”
Suddenly, a small smile appeared on Uncle’s lips.
“you?”
“yes?”
“The stock price of your financial affiliate will also decline? I heard that Sunyang Life Insurance’s financial difficulties are getting worse? You are no different from my older brother. You just taught me how to strangle you.”
My uncle’s smile grew wider.
“Oh, that’s right. Such a stupid thing… haha.”
My uncle’s smile disappeared because of my burst of laughter.
“You have another ulterior motive.”
“You two still don’t know the difference between my uncle and me? If the future of Jeon Sun-yang’s financial affiliates is bleak, I can organize them all.”
“what?”
“If I really wanted to protect the affiliate, would I have handed over the credit card company to my uncle?”
Vice Chairman Vibrator blinked and said nothing.
“All you have to do is evaluate the value of the affiliates’ assets calmly and sell them at the highest price before the company falls further into the abyss.”
When I said it casually, he started to get angry.
“You bastard! Do you think lightly of the company your grandfather inherited? When it was difficult, I persevered and made the current Sunyang Group. If you sold it because it was difficult and passed it on because it was difficult, would you be worthy of the name Sunyang now?”
“Times have changed. We cannot keep the name of Sunyang forever with the old methods.”
“what?”
“The card crisis should not be taken lightly. Domestic demand is dead. And there is no sign of recovery. At this time, it is better to clean up the company rather than holding on to affiliates that are strangling the neck. And when things get back to normal, we can take over.”
“The company is a hole-in-the-wall shop! Sell it when you’re having a hard time and buy it again when things get better?”
“It is no different for me. Although corporate M&A may seem complicated and difficult, the essence of buying and selling products is the same. All you have to do is sell the difficult life insurance and buy a good life insurance later and change the signboard. Will it be a much better company than it is now?”
I added a word to my uncle, who was so full of energy that he couldn’t open his mouth.
“Don’t blame me for my choices. This is because of my uncle. If you give us our bonds of 800 billion at maturity, there is no need to buy or sell the company. What put the group at risk was Uncle Father’s Cruiser Card.”
My uncle, who knew that it was his responsibility, did not open his mouth. His mind will be complicated now.
I heard what I could do with the Sunyang Group without the slightest lingering attachment.
It was clear that he was trying to figure out if I was serious or if this was also a threat that Sunyang’s financial sector would disappear if the money was not paid.
Complex thoughts wander in a fog the longer you do it. I stood up before he could read more of my mind.
# # #
Vice Chairman Vibrator muttered after staring at the empty seat Jin Do-jun left for a while.
“Pretend to be deceived even though you know his dark side… No, do I have to do what he wants…” He
couldn’t hide his bitter expression, as if he was pitiful at having to be dragged around by his young nephew.
* * *
『As of midnight today, the Sunyang Card cash service has been suspended. This is the second card company’s service suspension after the temporary suspension of K Card.
Sunyang Card said it would spare no effort to resume service as soon as possible. However, there has been no official announcement from the Sunyang Group yet.”
The place where the TV evening news came out was the chairman’s office of the Sunyang Group, which was empty for a while but was always kept clean.
None of Sunyang’s two vice presidents could sit in the chairman’s chair. Instead, they sat side by side on the couch and stared at the portrait of their father on the wall for a while.
“What do you want to do now? Can you solve it soon according to that news?”
“no. can not.”
“It sucks. Are you proud?”
The two did not look at each other or take their eyes off the portrait of their father. However, as if it was not a big deal, they exchanged stories in calm voices.
If someone who doesn’t know the content saw it, it’s like exchanging portrait appreciation.
“The money you have to give to Do-joon and the money you have to pay the credit card company is 1.34 trillion won. where do you get that Even if you subtract the money you already forgot, you get that much.”
“You’ve been hurt by your nephew. flirt Hehe.”
“It wasn’t that I was in trouble… I had some fun for about a year. And wouldn’t it be too far-fetched to think that Do-jun predicted that this would happen?”
“I’m just saying it because it fits so well.”
Vice Chairman Jin Young-ki didn’t want to believe that either. It is difficult to deal with the nephew who sold the credit card company as if he predicted it with horror.
“When coincidences overlap, they are inevitable, but this is just a coincidence. Rather, we need to get 60 billion before the end of today. Only then will normal service be possible from tomorrow.”
“You want to borrow money?”
“I hope so.”
“To be shameless…”
Jin Young-ki knows why his brother is so shameless. Today, when Sunyang Card’s cash advance service was suspended, the stock prices of all Sunyang affiliates went down.
It means that the disbelief that even Sunyang, which was like an iron fortress, can collapse has begun to spread. Disbelief eats away the strength of the pure sheep.
“If I don’t lend it, will the cruise card just become a piece of plastic?”
“More than that. It is only a matter of time before it goes bankrupt.”
“Stop. Don’t be rude.”
“It’s not tough. Money is really dry.”
Vibrator turned his head and looked at his brother’s face.
“The best I can do is discard the cards. It’s okay to throw away a debt-ridden company, but the problem is… Do-joon.”
“Do-joon?”
“okay. Heavy industry construction stocks entrusted as collateral. That’s what Do-joon has in his hands.”
“That’s your problem, not mine.”
After all, it is a transfer of the controlling stake in the group. The stake is in the hands of the younger brother or the nephew, but there is no difference from Jin Young-gi’s point of view.
“Soon there will be sparks on my older brother as well. Then it is our problem.”
“What do you mean?”
“He said he would sell all of his stocks and get out of hand if he didn’t pay back 800 billion won to Sunyang Life Insurance. Do you clean up and live again when spring comes later? It’s a guy’s idea.”
“what? Sell all your stock?”
Only then did Jin Young-ki start looking at his brother’s face.
“You crazy bastard, you mean that!”
“Is he crazy? no. He’s the smartest guy in our family. you know I know that this kind of threat works on us. He’s the kind of guy who’d do enough to get his money back.”
Jin Young-gi quickly rolled his head and calculated.
If the nephew’s 10% collateral for 800 billion is at least 7% of Vibrator’s 33% stock. In an instant, 17% of the stock goes out.
If this stock goes into Miracle, Miracle will hold 33% of the group’s controlling stake.
Soon after, he became the second largest shareholder of the Sunyang Group. If you secure a friendly stake, Miracle may swallow the Sunyang.
Jin Young-ki glared at the vibrator and bit his lip.
I still don’t know who this threat came from.
Is it a threat from a nephew?
Or is it a threat from a younger brother borrowing the name of a nephew?
Whoever it came from, this is a legitimate threat.
However, Jin Young-ki has too much pride to succumb to threats. I wanted to turn blackmail into a deal.
“I will give you 1.5 trillion won. Instead…”
“Put out the heavy industry and construction stocks that Dojunie has as collateral?”
“My younger brother’s notice is really… he doesn’t rust even when he gets older.”
Jinyoung smiled and nodded his head.
“That’s not allowed. If you pass the 7% stock, you pass the chance to sit under that portrait. We’d rather die together.”
“Boky Baby ….”
Jin Young -ki kicked his tongue while seeing his brother who refers to his father’s portrait.
“You seem smart at times like this, but you have a weak side.”
“I?”
“okay. According to what you said, if I go to Do-jun with 1.5 trillion won, he will throw the stocks of heavy industry and construction as collateral? It doesn’t matter to me whether the Sunyang card goes bankrupt or not… What would you do if me and Dojuni traded in this room without you?”
At Jin Young-gi’s words, Vibrator’s eyebrows trembled.
It was an unexpected counterattack.
—————————————=
