[210] Multifaceted 2
“Can you explain exactly what you mean now? The word absorption.”
“of course. It’s not that difficult.”
I could feel the two of them staring at my mouth.
“As you said, if the Sunyang Card went bankrupt, it would be a huge shock to the people. It might be confusing. Perhaps merchants won’t accept other cards either. They will assume that you might not be able to get the money you paid with your card.”
“Not only that. If you are concerned about the bankruptcy of credit card companies, short-term bonds do not work. The circulation of money comes to a complete halt.”
Director 1 even added the danger behind the card economy.
“I know. But wouldn’t it be the strongest message to be sent to the business world since the launch of the new government? It is the Sunyang Group.”
“If it completely absorbs the shock, then yes.”
The chairman said calmly. He wants to hear my answer.
“We will prepare a company that will take over Sunyang Card immediately.”
“A takeover?”
“yes.”
“Currently, even if the credit card company puts a premium on it, there will be no place to take it.”
Director 1 waved his hand as if it were nonsense.
“Jin Do-jun.”
The chairman called me again calmly.
“Say yes. Chairman.”
“Since you are a member of the Sunyang Group, I will be honest with you.”
He let out a long sigh and began to speak cautiously.
“If the government steps forward and provides the reason for the bankruptcy of one of the affiliates of the Sunyang Group, a tremendous attack will be poured out on our FSC. There are many people in the media and government agencies who view the Sunyang Group with friendly eyes.”
How many Sunyang scholarship students would the head of the FSC be afraid of?
“If the situation is dealt with quickly, the arrows of criticism will be reduced. You shouldn’t be shaken to that extent, right? It is the first flag fight of the newly inaugurated government.”
“It’s easier said than done. Do-joon Jin, you must be familiar with the strength of your grandfather.”
“Then would you like to proceed if I block that part?”
“We can discuss it if a quick fix is possible.”
What if the government blows up the cruiser card and normalizes the cruiser card by finding a taker before the shock spreads? Maybe we can quickly settle the card situation. This is because it can release both pressure and resolution at the same time.
“Please suggest the timeline you want. Please consider that you can take over right away in time for the final bankruptcy date of Chunyang Card.”
“Is Jin Do-jun going to take over? For example, Sunyang Life Insurance.”
“Not me.”
At my answer, the two of them looked puzzled. It was because they predicted that no one except me would take over the bankrupt cruiser card.
“What the hell are you doing? Everyone wraps their heads around the credit card company, but who do you think will take over the bankrupt credit card company?”
Director 1 said urgently.
“Excuse me for a moment.”
I took out my cell phone.
“Come in. CEO.”
He smiled lightly at the end of the short call.
“He is the one who bailed out bankrupt companies whenever the Korean economy was in crisis.”
At this time, the door opened and representative Oh Se-hyun entered.
The two were surprised to see Oh Se-hyun, but they seemed to see a reliable reliever.
“This is going to be quite a long seat tonight.”
The chairman smiled and held out his hand to Oh Se-hyeon.
# # #
“As you know… Although Miracle is a foreign capital, isn’t it an exemplary investment company that thoroughly separates ownership and management?”
“It was unexpected. I expected to take over the Ajin Group and sell it in shreds soon… but I never imagined that it would grow like it is now.”
After drinking a few beers, the chairman praised Oh Se-hyun, who was close to self-praise.
“It will be the same this time. If we acquire Sunyang Card, we will introduce advanced techniques from the US and transform ourselves into a transparent and sound company without insolvency. Aren’t we without the tyranny of the owner’s family?”
Oh Se-hyeon trembled for nothing and agreed with the chairman’s words.
“Then, is the acquirer Miracle Investment?”
When Director 1 asked cautiously, Oh Se-hyeon put down the glass of beer he was drinking and said.
“no. It’s a subsidiary of Miracle in the US… It will be a separate corporation. It’s because the powerful chaebols who are wary of our Miracle sting in their eyes.”
“I will ask you one thing.”
“yes. Please speak comfortably, chief.”
“What is the reason for wanting to take over the credit card company in this difficult time… Can you be honest with me?”
“The biggest reason is the car. Are you familiar with HW’s new car? Our < Isquillo >.”
“of course. My daughter-in-law also bought the car. I even stood up for warranty. haha.”
This time, the chairman chimed in.
“yes. At first, Sunyang Capital was in charge of credit sales of the car, and now credit card companies do it. But look at it now. We didn’t do anything wrong, but sales plummeted because of the credit card company.”
“Hmm…”
The two nodded their heads in understanding.
“I didn’t want this to happen. So I decided to try my hand at finance as well. Of course, both the HW Group and Miracles in the US and Korea are of the same opinion. Honestly, isn’t Miracle’s specialty in finance? I am confident that I can do well compared to anywhere else in Korea.”
Oh Se-hyeon looked at the two in turn and carefully brought out the requirements.
“If you proceed, I want to finish it as soon as possible.”
“You mean hurry up?”
“yes. Looking at the trend of falling sales day by day, it’s hard to bear it because it’s hot. I would like to acquire Sunyang Card at least before the first half of this year. No, if Sunyang is difficult, other card companies are fine. It’s because I’m not in a position to cover cold rice with hot rice.”
I didn’t insist on the cruise because I might get a suspicious look. But now, the target is the cruiser card.
A type of business where there is no self-rescue, no effort to improve, and no concern for the customer. The government may show the truth because it seems to believe in the name Sunyang and play around with it.
“great. We cannot give you any answer right now, but we will consult with the relevant departments and inform you of our decision as soon as possible.”
The chairman laughed and said, and the 1st bureau chief quietly asked for what he needed.
“CEO Oh, could you prepare data on the acquisition conditions of Sunyang Card and the management policy after the acquisition?”
“of course.”
The financial committee’s inner thoughts were visible.
Thorough preparation is required to get rid of it in an instant. Preparations to the extent that there is no cause for objection no matter who sees it. Asking Oh Se-hyeon for the data first means that they will check the parts that need to be corrected or supplemented by themselves.
“Once again, please. I want to finish everything during the first half.”
“It is difficult to give a definite answer, but as I said, we will quickly end the positive review.”
The meal ended with a smile.
When the two members of the Financial Services Commission left first, Oh Se-hyeon let out a long sigh.
“Are you okay? Even if I take over a bankrupt credit card company?”
“It is a matter of starting by looking far away. After suffering for a few years, things will normalize, and you will become a filial son. And the money you lose is covered by your uncle.”
“Uncle? who? Vibrator Vice President?”
“no. Vice Chairman Jin Young-ki.”
“what? Why is that nobleman?”
“Because I was blinded by the greed of securing a stake. I will pay a whopping 800 billion won and take the acquisition bonds of Sunyang Card.”
“Mmm… crazy… money is rotting.”
“It’s possible because it really rots.”
Only then did Oh Se-hyeon hit his forehead as if he had solved all the puzzles.
“What if I take over Sunyang Card and pay off the debt before it expires…?”
“yes. A large amount of 800 billion won comes in for free, and the credit card company is in our hands, and the stake is in our hands.”
“Did you plan it from the beginning?”
“The plan is correct, but 800 billion won in free money was not in the plan.”
“I’m going crazy hehe. No matter how bad the credit card company is, if 800 billion won comes in, isn’t it swimming on the ground?”
“There is no problem because the money needed to resume the service right now is 400 billion won.”
“This is what I saw, picked mulberries, and got 400 billion won as a bonus…”
“It’s still too early to like it. It is only possible when the government makes a decision. And tomorrow, I have to hand over the bonds to Vice Chairman Jin Young-ki. He said that if I don’t pass it by tomorrow, he will regard me as someone who is aiming for the position of chairman of Sunyang Group and won’t keep an eye on me.”
“tomorrow? Then, if you can’t get the Sunyang Card…? this!”
“It’s not just looking at the forest and picking mulberries, it’s Maljjang sandfish. It ends up breaking even.”
Suddenly, Oh Se-hyun stood up.
“This is not the time to be like this. Let’s go, let’s start by making the materials we need to give to the Financial Services Commission.”
* * *
“Yes. It doesn’t make sense if you don’t do double surplus business.”
Vice Chairman Jin Young-ki greeted me with a big smile.
“Honestly, I’m a bit sorry.”
“sorry? no. Okay. What are you sorry about when it’s money exchanged between family members?”
“To my second eldest father. I have to tell you first, but I couldn’t bear to bring it out.”
“done. I’d be more comfortable talking to you than you. I won’t say anything uncomfortable.”
“yes.”
Seeing my hard expression, my uncle tapped me on the shoulder.
“Because it’s okay. Rather than that, let’s prepare the contract first.”
“There is a standard contract, so I will prepare and bring it by tomorrow morning. As for the lawyer review…”
“Please make the review as soon as possible. I’ll stamp it and deposit it right away.”
“yes.”
When I left the vice president’s office, anxious thoughts did not leave me.
Since I met the people from the Financial Services Commission last night, my grandfather had to call me in the morning at the latest. that’s normal
No matter how new the administration is, the civil servants remain the same. If they put the cruise card on the meeting agenda, someone will rush to the grandfather and report it, ask for his opinion, and get his permission.
I also reported that this plan came out of my head, so my grandfather needs to find me.
However, the cell phone does not ring, so it is uneasy. Could it be that you can’t tolerate the bankruptcy of Sunyang’s affiliates?
It is better to remove the anxiety factor as soon as possible. Before signing the contract to hand over the bonds.
I headed straight from the vice president’s office to the parking lot.
* * *
“Why? Are you looking so nervous that I might disturb you?”
He also knows everything.
“Are you okay?”
“what?”
“It’s like leaving a stain on the name Sunyang.”
“Look at this guy. Are you going to do everything and come now and look at me?”
“sorry. Things were happening so suddenly that I couldn’t tell you.”
“This should be done like roasting beans over lightning. done.”
Since you said it as if it was nothing, I let go of it for an hour.
Then he looked into his grandfather’s eyes and said.
“Who contacted you?”
“The Blue House Senior Secretary for Economic Affairs called as soon as the morning dawned. It was the proposal of the Financial Services Commission. He said several times that the first proposer was you. He noticed that too. I mean, this is a family quarrel.”
“It would have been awkward for the Blue House to get involved in our family quarrel, right?”
“It’s good for them too. you said? It is a golden opportunity to take a step back against large corporations.”
“yes.”
“It has only been two months since I came to power. You probably want to show off your strength when you’re at the peak of popularity and when the press is paying attention to you on your honeymoon. How would you like it because you created that opportunity? The timing was really good.”
It was a little unclear whether it was a compliment or an evaluation, but his expression was still gentle.
“By the way, Do-joon.”
“yes.”
“Do you have the confidence to revive the crippled card company?”
Seeing as you don’t leave out the most important question, please correct me.
“What should I do if I don’t have confidence?”
“throw away.”
Hearing Grandpa’s clear answer makes me feel like I’m about to fly away.
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