[293] Banthing in good spirits? 4
“Vice President Vibrator!”
Chairman Lee Hak-jae hit the table and he raised his head.
“I am saying this just in case…. No, it is a warning, but because of the circular shareholding structure between subsidiaries, you must not recklessly move the stocks held by each other. You know that tampering with company-owned assets before going bankrupt is clear breach of trust, embezzlement, right?”
If the entire ownership stake in Sunyang Construction goes to the creditors due to construction bankruptcy, the control over affiliates will collapse.
The role of the parent company, which is dominated by vibrators, means that you should not think ahead of time about moving all stakes to construction and heavy industry and blowing only the shell of construction.
Until now, the prosecutors had turned a blind eye to this, so this happened all the time, but didn’t the prime minister say it a while ago? If necessary, I will mobilize the National Tax Service.
Can the government, which even thinks of mobilizing the National Tax Service, not be able to move the prosecution?
If the government turns its back on them, even chaebols are no different from ordinary companies.
“Has heavy industry provided a lot of payment guarantees for construction? The heavy industrial bills that our HW has are also considerable. If construction collapses, heavy industry will stumble and will not survive anyway.”
Finally, the vibrator opened its mouth.
“If you stop, the threat is enough. Say what you want.”
“why me?”
“yes?”
“You have to tell me what you want. I’m the one who decides whether to listen to it or not. Are you mistaken for the Vice Chairman of Sunyang Group, who is still in good shape?”
Chairman Lee Hak-jae shook his head.
“You have only one choice. Giving everything to your older brother, Jin Young-ki, and grabbing the bone he throws at you. Or quietly helping HW make an amicable takeover. Which one?”
It’s a reality that I don’t want to hear or believe.
Vice-Chairman Vibrator knows that if he endures for just two years, not one year, he can recover.
When summarizing the information collected by diligently running around the Middle East subsidiaries, Dubai is out of the moratorium faster than expected. Experts are of the opinion that the US financial crisis will last quite a while, but Asia will be less impacted.
It’s hard to accept when you think you’re losing everything just for one year.
“Are you sure you have to take them all? Give me a little time and I can solve this problem.”
“You know very well that you can’t choose what you don’t see…”
Chairman Lee Hak-jae gave a slightly regretful expression. Still, haven’t we been living together for a long time?
“Time just runs out of time, and businesses disappear. Do you know that Chairman Jin bought the company with money? Because we didn’t miss the timing to take over and didn’t give time to recover, we created the present Sunyang Group.”
“so? Do you mean that you will hit the bankruptcy of Sunyang Construction with the news tower?”
“Didn’t I tell you? If you’re going to help with a smooth takeover, you’re going to do it quietly?”
Vibrator sighed.
“Why the hell are you doing this? Not even the owner of the HW group. He’s just a salaried president. Wouldn’t it be better to take care of the real thing? That’s why I asked you to tell me what I want…”
“Because I’m on a salary.”
“what?”
“Because my owner wants the vibrator vice president’s sunyang. Because I’m paying for my meal right now. haha.”
Do investors swallow companies? That’s a hard word to accept.
It is clear that Lee Hak-jae, who was the shadow of his father, is overtaking Sun-yang.
The mistake Lee In-ja hid was that he thought that he had raised Sun-yang, and that he believed that he should have been given the position of Sun-yang’s chairman.
“Vice President Jin. It is said that cancer patients go through five stages when they are sentenced to death. Denial Anger Hope Depression Acceptance. I don’t know how far the vice-president is now, but you’d better be smarter. Wouldn’t it be better to skip everything, accept reality, and get at least one more? I will leave much more behind than Vice Chairman Jin Young-ki.”
Lee Hak-jae persuaded him with a soft voice, but only a bitter smile appeared on Vibrator’s face.
“A guy who used to call himself father Shidabarina dares to discipline? Do you want to imitate the father you served because others are the president? Where are you being cheeky?”
It was a low voice, but he suppressed his anger that was about to explode.
“If I kick a side gourd, you will break too. what? cancer patient? Step 5? I’m dumbfounded and won…”
Vibrator kicked out of his seat and stood up.
“Even if I get to know you, you won’t get even a single brick of Sunyang, even if I throw it to my brother… my nephew.”
Vice Chairman Vibrator shouted as if declaring and went outside, and Chairman Lee Hak-jae burst into laughter.
“Rage…. It’s still in the second stage.”
Anger makes a person blind.
If you throw it to your nephew, it might hit the ground forever.
is not it? Whether it’s an older brother or a nephew, is regret inevitable?
* * *
“HW directs the creditors?”
“okay. Lee Hak-jae wants a cruiser.”
You got it wrong, Uncle.
Could it be that the situation I am in is so urgent that I have not noticed it yet? Or is it because I don’t think I have the big picture and the money to do it this far?
“I don’t think there’s anything I can do about the money that Dubai bites so much?”
“There is one.”
Are there still holes left to escape?
“As you know, we only hold shares in major affiliates and shell companies that act as holding companies.”
“Yes.”
“Affiliates hold a lot of each other’s shares through cross-shareholdings. What Lee Hak-jae is aiming for now is the stakes that affiliates hold. If he gets all his stake, our stake loses control.”
“Yes.”
“It’s a big deal if the stocks of affiliates are taken away. So…”
“If you mess with that, the creditors will trip over you?”
“All you have to do is sell it at a fair price and pay off some of your debts with the money. Then it’s part of a self-rescue plan where there’s nothing to bet on.”
“Is there anywhere to buy all of that stock at a fair price? It will cost astronomical money?”
“So I am asking you. Aren’t you and I joint voters in the controlling stake? If your stake in affiliates disappears, the power of your controlling stake will also weaken.”
Are you saying we die together? It even sounds like a threat.
“We mobilized all of Sunyang Financial Group’s funds to secure a stake owned by a construction-affiliated company. Only then will Lee Hak-jae’s plan go to waste.”
“Are you saying that you will pay off the debts of the construction industry with that money?”
“okay. It’s a win-win.”
Pay off your debts and keep your equity.
Both sides are right. But not to me, but to my second eldest father.
I’m just paying a hefty extra to buy shares that will be mine anyway.
“I don’t like it.”
“what?”
The vibrator vice president started staring at her fiercely.
“Did you make the same offer to your first uncle? The financial power of Sunyang Electronics and Sunyang Mulsan is comparable to that of financial groups.”
“That’s that…”
“Especially, Sunyang Mulsan entered the Middle East with construction. It is not the time to say I don’t know, as if the first uncle was disrespectful. Are you sure you didn’t discuss it?”
His eyes as he stared at me shook.
“why? Did you say that you did not want to buy shares in affiliates and would consider it if you offered up a controlling stake in the group? Instead, did you throw a couple of non-core affiliates as if they were good luck?”
I stabbed the sore spot where his mouth was tightly shut.
“The person who should be in charge also refused, so why should I do it?”
“I’m saying this because your stake could be worthless.”
“That applies to everyone. But I’m not worried. I can keep my stake.”
Unexpectedly, his eyes widened.
“If HW takes shares in Sunyang affiliates, it will only take back shares in the financial group. Miracle is the owner of HW Group. I invested quite a lot of money in Miracle. I will give it to you for a very cheap price.”
Now you must have figured out my plan. He asked cautiously in a trembling voice.
“Are you thinking of completely separating yourself from the group this time?”
“of course. Did you think I would just stay still when I knew that my uncles were trying to steal my company and that if their business was shaken, I would be in danger too?”
“Do-joon! That’s not right. Separation of affiliates… You can’t destroy the Sunyang like this!”
If major construction companies are transferred to HW and the financial group is separated and independent, Sunyang is no longer Sunyang.
I even found it funny that my second eldest father was worried about this. A person who has already fallen away from Sunyang and cannot be undone is still talking about Sunyang…
“Uncle. My eldest uncle has already started working on the succession. The fact that Yeongjun hands over the controlling stake in the group to his older brother means that the group is separated. Isn’t that the will to protect what you have? You can’t avoid tearing the cruiser.”
Vibrator’s vice president kept his mouth shut. This is because he also tried to proceed with the succession process and was planning to give the money he earned to his son after the Dubai World project was over.
It’s all gone wrong.
“I’m sorry to say, but there are not many things that Uncle Father can choose. Either hand over all the shares and make sure that Sunyang is not taken away by others, or cooperate with the creditors and avoid ruining the company…” I slipped one
last option to him, who was devastated in the face of the harsh reality he did not want to believe.
“There is another way.”
He lifted his head and started looking at my mouth.
“Give me all the shares in place of your first uncle.”
“what?”
“Don’t be angry, think carefully. There is a big difference from my first uncle. Because Taejun can take care of him.”
His eyes widened when he said his son’s name.
“If the eldest uncle takes control of the group, no one but Yeongjun hyung and his family will be able to set foot in the main building in Sunyang. But I’m different. Both Taejun hyung and Seongjun hyung will take on the heavy responsibility of Sunyang. Third-generation joint management We promise you one thing.”
“You mean under you?”
I shook my head at him as he laughed.
“You already know? I am not being reported to former financial group presidents. We only discuss it together when something big like the current US financial crisis occurs. The two older brothers will become independent professional managers. Of course, Seongjun-hyung needs to prove his ability, but I think Taejun-hyung is already good enough.”
It seems that children are more important than the company.
Vice-Chairman Vibrator left with a brisk face.
Pride is also important, but it is still far from being able to cover the cool-headed reason.
You have to feel the reality more miserably.
* * *
“I hid what to hide and covered what to cover, but it seems that more than 600 billion will come out.”
Vice President Jang Do-hyeong hesitantly handed out the documents.
“It hides a lot. There is also a company that paid 150 billion won in taxes while taking over a small food company with less than 2 trillion won in sales. I only paid 1.3 billion. It should be normal when it exceeds 1 trillion won.”
“It has already been done. Do you really need to spend 600 billion won in the form of voluntary tax payment?”
“Vice President. I am not a conscientious taxpayer. It’s a waste, but it’s necessary. This is not to pay inheritance tax, but to prevent inheritance.”
“Huh……. but…”
Vice President Jang Do-hyung sighed, perhaps regretting it.
The amount of money doesn’t matter, it matters how you spend it.
However, for those who do not have money, the amount is also important.
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