I Become a Chaebol in Korea: Unique Insight

After experiencing a tragic car accident, Liu Zhengjie, whose ancestors were from China and who was now an ordinary Korean worker, woke up to find himself the eldest son of the powerful Korean chae...

Chapter 138 Making money is not the most important thing now

The car drove towards Incheon Airport with Park Jin Hyuk and Kim Jun Woo.

Park Jin Hyuk closed his eyes and rested for a while.

After he opened his eyes, Jin Junyu said softly:

"Director Park, from DS Pharmaceuticals' perspective, acquiring North is advantageous, but from your perspective, would it be more advantageous to continue holding North's shares?"

"Well, if I keep holding the shares, I'll earn more in the future."

"And you?"

Park Jin Hyuk smiled.

"They say the butt determines the head. After going through so much, I feel it is indeed true."

If it were in the past, Park Jin Hyuk would not give up his shares in North, but now his position is different, so his thinking has risen to another level.

"For me now, money is not the most important thing. What's more important is to cultivate strength, that is, to focus more on how to improve the company's ability to make money."

"So you want to transfer North Pharmaceuticals to DS Pharmaceuticals?"

"Not only that, I also plan to strengthen DS Construction's capabilities... and even help Dongjing Industry improve its competitiveness."

"Dongjing Industry?"

During the negotiations with Bayer, when talking about the acquisition price, Park Jin Hyuk thought of Dongjing Industry, which was in trouble.

He had an idea in his mind, which was to use Dongjing Industry to break into the core of DS Group.

"Do you know why I haven't been to the headquarters and have been working in a subsidiary company?"

"I heard from President Xuan that if you go to the headquarters and work under the chairman, you might be tied up and unable to perform your duties, so you should first control the subordinate companies."

"However, it's not enough to simply control subsidiaries from the outside; we must extend our tentacles into the core of the group at the right time."

Jin Junyu thought, what does entering the core of the group have to do with Dongjing Industry?

"If I take direct action, the president will definitely notice. If I use Dongjing Industry, it will be much more covert."

"Are you planning to help Dongjing Industry solve its problems and then have it obey you?"

"What do you mean by obeying orders? That's my grandfather's business. To be more precise, it's a win-win cooperation."

Having said that, isn't this just about saving the other person in times of crisis and then using them to achieve your own goals?

But Jin Junyu thought again and thought that this might be the inevitable fate for people born in a chaebol family.

*** *** ***

After arriving in Austria, Park Jin Hyuk immediately met with the management of North Pharmaceuticals.

After learning of his intentions, North's management immediately expressed opposition.

They took out the agreement they had signed and said that the two parties had agreed that their business autonomy should be protected.

The negotiations lasted for two days, and the other party's reaction became increasingly intense, constantly accusing Park Jin Hyuk of being untrustworthy and going back on his word.

After hearing this, Jin Junyu suggested to Park Jin Hyuk that if they continued like this, there would probably be no results. He should return to China first, discuss with President Mao Dayong, and then make a long-term plan. After all, they still trusted President Mao Dayong.

However, Park Jin Hyuk didn't care much about their attitude.

He took time to meet with other major shareholders of North and worked hard to ensure that the shares supporting his opinion reached more than 50%.

At the same time, he patiently told North's management that instead of being acquired passively, it would be better to actively cooperate with the acquisition now.

However, North's management remained unmoved.

Under such circumstances, Park Jin Hyuk's attitude changed.

He sternly warned North's management that if this continued, they would probably end up in a falling out.

Jin Junyu said worriedly:

"Manager Park, I'm afraid this isn't a solution."

"Do you think I came here unprepared? Be patient, the trump card I've prepared will soon find you."

*** *** ***

On the third day after arriving in Austria, the ace Park Jin Hyuk had been waiting for appeared.

The two senior executives of Bayer Group who I met in Seoul came to North Company.

As soon as they met, they started complaining about Park Jin Hyuk.

"Mr. Park, why did you leave Seoul without telling us? We had to wait in Seoul for two days."

"Ah! Really? I'm so sorry! I didn't know about this situation... Please come and sit down."

Park Jin Hyuk politely asked Schneider and Bauman to sit down.

Then, he glanced at Werner, the technical director of North Pharmaceuticals, and Karin and Korenitz beside him, and then Park Jin Hyuk turned and walked out.

Werner quickly called him.

"Where are you going?"

"If I'm here, it will be inconvenient for you to communicate. Please take your time to talk. I'll go back to the hotel first."

Upon hearing this, two senior executives of Bayer wanted to stop him, but Park Jin Hyuk left without looking back.

As soon as he walked out of the meeting room, Park Jin Hyuk asked Kim Jun Woo who followed him out:

"How are the preparations going in Seoul?"

"I've reported this to the chairman, and he's agreed. I heard DS Fire Insurance wants to handle the acquisition. As soon as you agree on the deal, we'll start the due diligence process."

"DS Fire Insurance? As a financial investor?"

Before boarding the plane, Park Jin Hyuk called DS Securities' president Zheng Zhanyong and asked him to be in charge of the merger and acquisition.

President Zheng was very happy after hearing this, because the economic recession caused by the Paris flu had caused a sharp drop in business volume, so of course he was willing to take on such a business.

Park Jin Hyuk asked him to find out about possible external financial investors and then boarded the plane.

Jin Junyu said:

"DS Fire Insurance must have learned about the merger and acquisition, and proposed not using external investors but using their own funds."

"Using internal funds is certainly good, but won't it leave some problems?"

"What do you mean?"

"I'm the one who needs the money. DS Fire Insurance's funds come from collecting money from customers. I don't think it's possible for me to use it."

"I'll confirm this with the legal department as soon as possible."

"Well, I don't want to have any sequelae just to save money."

Regarding Mao Dayong's calculations, Park Jin Hyuk asked:

"How have they calculated the price?"

"Basically, the calculation is based on the $800 million quoted by Bayer."

"Don't raise the price too much just to take care of my interests. I'm not transferring my shares for money."

"Yes, I will tell President Mao."