RR 31
[031] An Era of Rapid Change 1.
Daehyun Motors, the undisputed, absolute leader, boasted more than half of the domestic market share.
Ajin Motors, which had been in 4th place for ages, released the sturdy and solid compact car, Proud, and instantly claimed the 2nd position.
Woosung Motors, which had narrowly fallen from 2nd to 3rd place, was constantly aiming to reclaim 2nd, backed by its partner, the American GM Motors.
Sunyang Motors, barely holding onto 3rd place, became the industry’s last.
It was a sign of great restraint that the proud Chairman Jin Yang-cheol had settled this humiliation by merely dismissing one president.
If it were up to his temper, a dozen or so executives should have been fired along with him, but it would have been difficult to wield the axe of dismissal right at the beginning of the new year. One had to consider the morale of the executives and employees.
As the eldest son, Jin Yeong-gi, hesitated, Chairman Jin playfully beckoned with his finger.
“Chosen? Twenty or one, which will you have?”
“I’ll take the automobiles too!”
He emphasized the “too” unusually strongly.
“But Chairman, practically, two years is impossible. The new car currently under development will be released at the end of next year. Even if I pour all my efforts into new car development… and even if the new car’s popularity soars, the results won’t appear until the year after next.”
“Vice Chairman.”
“…Yes.”
“You, go to the car factory immediately.”
“…?”
“In that factory, hundreds of cars are pouring out every day. If you sell all of them, won’t you be second place?”
Who doesn’t know that? If it were as easy as it sounded, would he be making such pathetic excuses? But he had to keep his mouth shut. Wasn’t that the absolute ruler’s command?
“You’re not thinking of selling the current cars, only the new ones? Is that your idea?”
“Ah, no, that’s not it…”
Vice Chairman Jin Yeong-gi tried to add a few more words to create an escape route, but Chairman Jin had already raised his hand and pointed to the study door.
“Go quickly. You’ll think of what to do once you see it yourself. Hurry.”
He wasn’t someone who babbled whatever came to mind just to scold. If he said go, you had to go.
What if you argued?
The fate of the president who was banished to the packaging factory couldn’t be avoided just because he was the chairman’s son.
Vice Chairman Jin Yeong-gi sprang up, bowed slightly, and quickly exited the study.
As soon as the door closed, Chairman Jin looked around at the people and said in a benevolent voice.
“Let’s end it for today. You’ve suffered enough listening to my nagging from the start of the year. Everyone, go and attend to your work.”
Everyone exited the study one after another, their expressions noticeably brighter.
Their faces showed the relief of not being fired from their affiliate president positions, which were no better than being a dayfly.
“How’s the Soviet Union doing? No hope?”
Chairman Jin asked Lee Hak-jae, who naturally remained in the study after everyone else had left.
“That’s right. They politely refused, saying it’s difficult to concentrate energy on specific companies.”
“They say ‘Ordinary Roh’ and ‘just a common man,’ but he’s not ordinary, is he?”
“This government has designated ‘Northern Diplomacy’ as its greatest achievement and is proceeding to avoid any noise if possible… They’re asking for understanding.”
“So? What can they give us instead of gas?”
“You mentioned support for East Germany. They said that support channel would be entrusted to the private sector.”
“The private sector, meaning…?”
“Our Sunyang. It’s a support plan for home appliances and food.”
“Food? What would we use that for?”
“So we’re currently persuading them for 100% home appliances. The entire support budget will be diverted to the construction costs of our Sunyang Electronics local factory.”
“That cost will only come out once the Berlin Wall completely collapses, right?”
“That’s right.”
“And the timing?”
“Combining the information we’ve gathered and what the ANSP (Agency for National Security Planning) has, it’s September or October.”
“Then prepare thoroughly so we can break ground in the fall.”
“Construction company employees are already surveying the area around Berlin. We plan to secure factory sites in areas with high potential for development and move the Hungarian factory equipment to East Germany.”
“As expected of Lee Hak-jae. Killing two birds with one stone.”
The home appliance factory already established in Hungary was barely maintaining its existence. This was effectively closing that factory and expanding its relocation to Germany. Without spending a single penny.
“Not at all. It’s just the beginning.”
“Japan?”
“Yes. We need to overcome the Eastern Bloc’s affection for Japanese home appliances. Especially Hitachi and Sony, aren’t they absolute?”
At the mention of Japan, Chairman Jin bit his lip.
Korean products, with decent performance at a low price. This was the cold evaluation of the global market.
They had come this far by trying to catch up with Japanese technology. But there were no consumers desperate to own Sunyang products. They struggled tirelessly to overcome this difference, but a formidable wall, taller than the Berlin Wall, was visible. Still!
Chairman Jin’s insides churned with inferiority whenever he thought of Japan. Noticing his mood, Lee Hak-jae subtly changed the subject.
“Oh, by the way, how should we handle the land I mentioned before?”
“Land? Ah, Do-jun’s land, you mean?”
“Yes. According to Mr. Oh of PowerShares, Do-jun said he wanted to sell the land, but I suspect Mr. Oh might have recommended overseas investment.”
“What? You said that guy was trustworthy?”
“Yes. I confirmed it again this time. He’s a good guy. He probably judged that it was better than the land price appreciation…”
As if he didn’t need to hear any more, Chairman Jin waved his hand.
“That’s enough. Just buy it.”
“Will that be alright?”
“You said you double-checked, didn’t you? That the guy named Oh something wasn’t a swindler?”
“Yes.”
“What’s a few bucks even if the land price goes up? Let’s entrust it to him. Still… it’s commendable. The way he moves first without just waiting around.”
“I’ll do that. It would be best to purchase it at market price, right?”
“Of course. Otherwise, people will talk about illegal inheritance and whatnot. Pay the exact market price.”
“Understood.”
“And review PowerShares’ performance.”
“Yes? Why the sudden request?”
“I was thinking about entrusting the money scattered in commercial banks to them. Wouldn’t it be good to move that money to where Do-jun invested?”
“Hmm…”
The money in commercial banks referred to Chairman Jin’s personal slush funds hidden in nominee accounts.
“Should we consolidate the bonds too?”
“After checking their performance, if it seems appropriate, all of it.”
“Yes. I will take immediate action.”
It was true that it would be safer if moved abroad, and they could also track Do-jun’s money. It was a way to catch two birds with one stone: safety and surveillance. Not bad.
As his mood, which had been dampened by Japan, improved slightly, Chairman Jin began a real meeting with Lee Hak-jae. A meeting just between the two of them.
“What do you think?”
“I apologize. What are you referring to…?”
“Automobiles. And Yeong-gi.”
“Isn’t the Vice Chairman doing well in his own way?”
“I didn’t keep you by my side just to hear pleasantries.”
“No, sir. Honestly, it’s impossible to raise it to second place by next year. It was a bit… harsh.”
“Hak-jae.”
This subtle tone and playful expression made him most nervous.
Chairman Jin was a man who embedded his true feelings in his jokes.
“Yes.”
“Are you taking sides?”
Did they say a king was most wary when a subordinate offered an opinion on behalf of the crown prince?
Lee Hak-jae, unfazed, laughed it off as a joke.
“Haha, no, sir. I’m serious.”
“Serious? So it’s that difficult, huh? Good. Then you answer. Do you really think there’s no way to rise to second place in the automotive industry within two years?”
Chairman Jin Yang-cheol spoke, even showing a smile.
But Lee Hak-jae couldn’t return the same smile as Chairman Jin.
“Public opinion won’t be good. Perhaps the losses will also be substantial.”
“Possibility?”
“If this administration steps in, 50%. Otherwise… it’ll be below 30%.”
Both remained silent in thought for a while.
“Tell them I want to have a meal at the Blue House sometime and set a date.”
“Will you meet them directly?”
“A dinner with economic leaders would be plausible.”
“Yes. I’ll prepare it.”
It really seemed like he was going to start, but Lee Hak-jae didn’t offer a dissenting opinion. Wasn’t a reckless adventure the right of the founder?
From today, Sunyang Group’s brain trust would have to operate at full capacity.
They had to calculate down to the millions of won how many percent of shares they needed to secure to swallow Ajin Motors, which had the weakest governance structure, and how much the input cost for stock acquisition would be, and also prepare for a public relations war.
To attack Ajin Motors, they also had to start investigating the management’s backgrounds, and at the very least, the chairman and president of Ajin Motors had to be put in the prosecution’s photo line.
Even if they were eventually released without charges.
While his mind was still racing, Chairman Jin cut off his thoughts.
“By the way, why can’t that Yeong-gi think of things like this? Selling goods is the president’s job. That fellow doesn’t even realize what position he’s in.”
“That’s because you, Chairman, are still in robust health.”
Chairman Jin shook his head.
“No. If he were a lord vying for supremacy, he wouldn’t know that he needs to start wars, expand territory, and build castles. A lord is only worthy if he expands the land for his laborers to farm… but that fellow, I can see him just pushing the laborers to increase yield. His capacity is small.”
“Isn’t it an era of defense now? Didn’t you train the Vice Chairman that way?”
“The instinct for war must stir! Can you just sit back because you’re told to defend?”
Lee Hak-jae knew it was time to close his mouth. Lately, he had been speaking unfavorably of the Vice Chairman with increasing frequency.
Could the reason be Jin Do-jun’s influence?
After that, Chairman Jin continued to vent his frustrations about his children for a long time.
Lee Hak-jae merely nodded occasionally, as if dealing with a nagging wife.
.
.
.
The Beginning of a New Decade
The 1980s passed, and the 1990s arrived.
The new decade was a crucial period for preparing for the 2000s. Chairman Jin Yang-cheol burned with ambition from the start of the year, but in less than a month, he had to completely revise everything.
From the beginning of ’90, the political scene became agitated, and on the 22nd of the same month, President Roh Tae-woo, the head of the Democratic Justice Party, dramatically agreed to the dissolution of the three parties (Democratic Justice Party, Reunification Democratic Party, New Democratic Republican Party) and the creation of a new conservative coalition party in a Blue House meeting with Kim Young-sam, the head of the Reunification Democratic Party, and Kim Jong-pil, the head of the New Democratic Republican Party.
This was the so-called Three-Party Merger, a political big deal. The minority-majority political landscape instantly transformed into a giant ruling party.
On January 30th of the same year, at 9 AM, nearly nine hundred delegates and party officials gathered at the Mapo Reunification Democratic Party headquarters, making it standing-room only.
At the national convention held that day, Chairman Kim Young-sam expressed his feelings, saying he “didn’t know how much agony he went through,” and began by stating that “making the ruling party shed its signboard was a great decision made for the salvation of the nation.”
The 35-minute convention ignored a lawmaker who asserted, “I object. There must be a dissenting debate,” and a dozen or so dissenting members who supported his assertion, and quickly concluded with a vote in favor of the merger.
Thus, on February 9th, the colossal ruling party, the Democratic Liberal Party, was born.
Now, the economic sector had one more person to be mindful of.
The person leading the giant ruling party and a strong contender for the next presidency.
Chairman Jin Yang-cheol threw down the newspaper.
Damn it, just when he had appeased a sly old fox who was no ordinary person, an old man forged in guts appeared with a club. This sentiment was clearly etched on his face.
I picked up the newspaper.
“This is the one, isn’t it? The one who’s always second place…”
I pointed to Kim Young-sam, the white-haired man among the three raised hands in the picture.
“Yes, that second-place guy teamed up with the class president and is now in line to inherit the next class president’s position.”
Grandfather’s eyes, looking at me with an expression of frustration, were a bit burdensome.
“Alright, let’s hear the thoughts of our smart Do-jun.”
As expected, is he starting to find this fun now?
“Huh? What do you mean?”
“What would you do if you were him? That white-haired man is unusually stubborn.”
He wanted a unique perspective and a distinctive word, but this time, I spoke like a child.
“Hmm… Isn’t it just better to get along well?”
“Is that all?”
“Yes.”
Chairman Jin’s disappointment was evident on his face.
I couldn’t help it.
Was there anyone who caused more shock than President Kim Young-sam?
His shocking policies should be known only to me. By the time Kim Young-sam’s five-year presidential term ended, I had to claim a portion of Sunyang Group. A highly profitable affiliate, that is.
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