Breaking Up Is Better Than Divorce

visit

“I know that the chairman has a lot of affection for Cheil Motors.”

As with any large Korean conglomerate, Cheil Group is reaching out like an octopus in almost every industry. And the best group is always listening to the best sound in most of the fields it has entered into.

But it wasn’t the case with cars.

Dasan, who has never come down from the No. 1 position, and the ocean that is chasing after her, is barely maintaining her 3rd place.

Cheil Motors was like a sore finger to the chairman of the Cheil Group, who was full of the will to take the first place once it started.

“It’s love, everyone has it. If you are a member of the best.”

Eugene knows that this is not the case.

“I think that one day, Cheil Motors will become a competitive company.”

However, it was an undeniable fact that this was not the case yet.

The Cheil Group has been making significant investments to make Cheil Motors a brand comparable to that of Daeyang Motors.

However, it was difficult in many ways because it had the shortest career among domestic automobile companies and did not have enough technology to secure it.

In particular, it is quite wasteful for four automakers to compete in a country with a population of only 50 million.

“Now is just the beginning, but you will always hear that Cheil Motors is the best.”

Vice President Han Jeong-hoon does not deny the fact that Cheil Motors is not yet competitive, but instead says things that he does not want to say.

In the future Eugene experienced, this man gets his hands on the Cheil Group and then disposes of the Cheil Motors.

He didn’t have a lot of love for cars, so he had no intention of continuing a business that only puts a burden on the group.

And it was Daeyang Motors that took over the Cheil Motors, which had been put in place.

“May I ask what it means to be interested in Daeyang Motors?”

Vice President Han Jeong-hoon asked in a serious voice unlike before.

It’s clear that he doesn’t have a lot of love for the auto industry, but it makes a lot of sense in another sense.

This is true in terms of the confirmation of the succession structure.

Han Jeong-hoon felt a great seduction from Eugene’s words. If Daeyang Motors can be acquired, Cheil Motors will stand in a position to compete with Dasan Motors.

If you can do it, you don’t even have to ask how happy your father would be.

It was an opportunity to make up for achievements that had not been made before.

“You are familiar with the relationship between the Daeyang Group and our family. I plan to return what I received from Daeyang at some point.”

Eugene did not turn back. The fact that he has a grudge against the ocean is no longer a secret.

“It means that by taking over Daeyang Motors, you will pay the price for trying to take away CEO Kang’s father’s company. like. It is a natural thing for the future to set a good example for those who have been fighting.”

Vice President Han Jeong-hoon understood Eugene’s intentions better than anyone else.

“I do not intend to finish it with Daeyang Motors, but I am considering the automobile first. But even if you take over Daeyang Motors, I’m not very reluctant to manage it. Running a business is another matter. Moreover, the merger between Cheil and Daeyang Motors seems to have considerable synergy.”

Of course, Dasan Motors and not Cheil Motors are no different.

No, on the contrary, it would be greater in terms of synergy.

Hana Eugene knows that if Dasan Motors merges with Daeyang Motors, it will virtually become a monopoly.

It is different from the picture Eugene wanted.

“It does. Wouldn’t it be much more beneficial for CEO Kang to focus on investing in the time he had to worry about such things? The profit earned in one year alone is enough to acquire the Daeyang Group, but it is a waste of time to pay attention to one car.”

A vice president smiled and tried to lift Eugene up.

“How is it? I think the Cheil Group will be interested in acquiring Daeyang Motors.”

Eugene gently ignored the flattery tribute of the giants and asked the question again.

“I don’t think that’s a matter for me to judge.”

“Then I think we should meet Chairman Han sometime and talk again.”

“But I can’t say I’m not interested. First of all, shouldn’t we first know if we can really take Daeyang Motors away from Daeyang Group?”

“I don’t. It’s not easy. The chairman’s family’s dominance over Daeyang Motors is very firm.”

Like other Korean conglomerates, the Daeyang Group had a very complicated structure of circular shareholding among its affiliates.

“But there has never been a more vulnerable time than now.”

“I know it’s a pretty tough time for the entire Daeyang Group. Well, half of it is because of CEO Kang. haha.”

“And you also know that Daeyang Heavy Industries is in a significant crisis because of the drop in oil prices that started in 2014.”

“Honestly, Cheil Heavy Industries is not that good. We have to be content with just holding on until oil prices find their way.”

“Did you know that from a few years ago, Daeyang Group reduced its order volume for a while to solidify its stake in Daeyang Heavy Industries?”

“I heard that. It seems that they are trying to increase their stake by dropping the share price of heavy industry.”

Vice President Han Jeong-hoon said with a slightly prickly expression.

When the stock price goes down, collecting shares is not a trick unique to Daeyang Group.

Sometimes they even deliberately lower their stock price. They did a lot of that, mainly to lower the inheritance tax.

In fact, it is safe to say that there is no chaebol group in Korea that is free from such immoral behavior.

Right now, Vice President Han Jeong-hoon and his brothers and sisters have secured a significant stake in Cheil Group’s affiliates by using the same trick.

“If Daeyang Heavy Industries announces its earnings this time, the impact will be quite large.”

“Are you targeting Daeyang Motors through Daeyang Heavy Industries?”

This is the biggest weakness of circular shareholding, which is the secret to controlling group affiliates with a small share of the owner’s family.

If one axis of circular shareholding collapses, the entire group may shake.

“I know that Cheil has a certain amount of stake in Daeyang International.”

That is about half of Eugene’s purpose to attract Jeil.

Just as Dasan Group had a stake in Daeyang International, a core affiliate of the Daeyang Group circular shareholding, and used it in a dispute between the brothers of the Daeyang Group, it made considerable profits.

The two chaebol families were equally greedy.

“I do not know. As far as I know, not that many.”

Vice President Han Jeong-hoon answered with an ambiguous smile.

But it is enough for Eugene that he does not deny it.

“We plan to target both Daeyang International and Daeyang Heavy Industries.”

It is intended to attract the best, so I have no intention of hiding it.

And those who benefit more from Eugene’s actions would be the best.

“Hmm. It won’t end with a stake battle. In particular, it is not easily tolerated by the public sentiment to take the company of another group like that.”

Korea is a country where hostile M&A is not easy. Vice President Han Jeong-hoon said it was because of the public sentiment, but to be more precise, it must be because of the sentiment of large corporations.

Although the opinions of citizens play a major role in shaping public opinion through the Internet, etc., it is still the large media outlets that are the main contributors to the formation of public opinion.

And most of these media outlets are subsidiaries of large corporations or construction companies, or are close to semi-conglomerates that are intertwined in a complex network.

Naturally, they react like a seizure to hostile mergers and acquisitions of affiliates of large corporations, misleading them as if they were the will of the people.

“It may be different if there is a justification that the people can understand.”

Since Vice President Han Jeong-hoon mentioned the people, Eugene also uses the people as an excuse.

“I mean, there’s something magical about it. Haha, there is no need to say that CEO Kang is so talented.”

“Anyway, my doctor said yes. Best group possible… … No, I would like to have a good relationship with Vice President Han.”

“Yeah, I mean this. If I, too, can hold hands with CEO Kang, it goes without saying. like. I’ll go and try it out.”

The two held hands.

Eugene made an offer that was too precious to decline to Vice President Han Jeong-hoon, and he was sure that he would somehow get his father’s approval.

As we entered July, the whole country was buzzing with the upcoming presidential election in the United States.

Bipartisan candidates, Hillary and Trump, were both embroiled in a fairly embarrassing scandal.

Hillary’s morals have been questioned over an email scandal, and Trump has been criticized by countless people for her signature blunders.

In mid-July, Republicans held a national convention to elect Trump as their presidential nominee, with few Republican big-name figures refusing to attend.

The reason Trump wants to boycott even though he is his party’s candidate is because Trump has taken a very different path from traditional Republicans.

Hillary was also bitterly criticized by the Democrats on the left.

The US presidential election was unique in many ways.

In such a series of circumstances, Eugene and some close friends went on a summer vacation to Atlantic City, where New Yorkers often go on vacation.

The party stayed at the Trump Taj Mahal, once run by Trump, and enjoyed casinos and nightlife for several days.

Trump’s Taj Mahal is famous for being the first in the US to open a casino strip club featuring Jeolla dancers.

Of course, Eugene and the others had no intention of enjoying it.

After a few days there, Eugene, with only a few people, headed for Delaware’s largest city, Wilmington, about an hour away.

“Are you new to Delaware?”

Joanna asked as she got into the car.

“Because I’ve never been down to the bottom of New York.”

In my last life, I’ve come to see you a few times.

Wilmington is not a very important place for the general public, but it is a very important place for business people.

There are 800,000 registered companies in this small city with a population of less than 70,000.

The reason it has such a deformed structure, with more than 10 per capita, is that Delaware is a de facto tax haven in the United States.

There is no VAT in Delaware, and the corporate tax rate is less than 10%. Additionally, stocks owned by outsiders of Delaware are not taxed in Delaware.

Because of these benefits, more than half of the top 500 companies in the United States are headquartered here.

Of course, just registering here is to get tax benefits.

However, Eugene’s visit to Wilmington was not the reason he wanted to establish a registered company here.

Eugene and his party met an elderly woman in a quiet cafeteria in Wilmington.

“Nice to meet you. Mrs. Owens.”

“hello. It’s nice to see people you’ve always seen on the news in person. This is Valerie Biden Owens.”

A woman with a lively impression who looks much younger than her age in her 70s has greeted Eugene with a gesture as big as her figure.

“I am happy to see you corrected. I heard that you have been very ill recently.”

“it’s okay. Everyone is like that when they get older. Thanks for your concern. But why did a world-famous celebrity ask you to meet me?”

“I have a few things to discuss.”