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 378 We Do Not Accept Any Bargaining

Several shareholders then took the stage to speak, all questioning and denouncing Park Jin Hyuk.

Then a vote was held, and as expected, more than 80% of shareholders voted against it, and the motion of no confidence failed to pass.

Some shareholders cheered, while others cast mocking glances at Park Jin Hyuk.

However, Park Jin Hyuk sat in his seat with a smile on his face.

Finally, the host said, "This concludes the shareholders' meeting. Thank you all for participating. We have prepared some small gifts for you. Please collect them when you leave. Thank you."

The meeting ended and shareholders began to leave in twos and threes.

Li Zhenshu came to Park Zhenhe and said, "You asked for this. Qingyu is not DS. You and Zhiyan have lost your reputation in front of the shareholders. I urge you to sell your shares to me and withdraw from Qingyu."

Park Jin Hyuk raised his head and replied, "If I really want to sell it, do you have the money?"

"If there's not enough money, I can raise it."

"That's right. I won't say much more. Goodbye." After saying that, Park Jin Hyuk stood up and walked out of the venue.

What he was thinking at this moment was that it was still uncertain who would win in the end.

*** *** ***

From the outside, Park Jin Hyuk had never failed in anything he set out to do, so everyone was puzzled by his complete defeat at the Qingyu board meeting.

This incident also became a hot topic on TV financial programs.

"Yesterday, after the Qingyu shareholders' meeting, Qingyu's stock price began to rise continuously."

"It seems that investors believe that Park Jin Hyuk will not give up."

"Yes, a fight over management rights within a company is not a good thing for the company, but it's quite the opposite for investors. However, no one expected Park Jin Hyuk to inexplicably lose."

"Everyone has a question: what is going on?"

"But careful people seem to have discovered something strange about it."

"What's so strange?"

"It stands to reason that Vice Chairman Park Jin Hyuk should have at least joined forces with one or two shareholders to jointly propose this no-confidence motion to increase his chances of winning, but he didn't contact any shareholders."

"What's the reason?"

"I think it was because the bill was brought forward so hastily."

In the office, Park Jin Hyuk was watching TV while checking the stock price of PJ Logistics. After the Qingyu shareholders' meeting ended yesterday, the stock price of PJ Logistics also showed a strong growth momentum.

On TV, the host continued, "At yesterday's extraordinary shareholders' meeting, it was confirmed that both parties were bidding for PJ Logistics."

"Qingyu and DS are both very interested in PJ Logistics."

"In fact, this rumor had already been circulating before the shareholders' meeting, but many people expressed doubts about it. It was finally confirmed at yesterday's shareholders' meeting."

"Is it true that Vice Chairman Park Jin Hyuk requested a shareholders' meeting in order to acquire PJ Logistics?"

"Well, after DS announced its strategy to enter the logistics sector, it failed to make any substantial progress. They attempted to build their logistics division based on a subsidiary of Dongjing Industry, but that proved difficult. That's why they planned to acquire PJ Logistics. Unexpectedly, Qingyu Group suddenly swooped in, forcing them to convene an extraordinary shareholders' meeting to try to stop Qingyu's acquisition."

"Qingyu Group also really needs PJ Logistics. It wants to expand Qingyu Logistics and achieve the company's listing, right?"

"That's right. Pushing Qingyu Logistics to go public is one of Qingyu's main tasks in the near future. If we can successfully acquire PJ Logistics, the listing plan can be brought forward significantly."

The conversation between the host and the expert sounded very familiar to Park Jin Hyuk, because it was conducted entirely according to the script provided by the DS Vice President's secretariat.

Ding dang dang.

Jin Junyu pushed the door open and walked in.

Park Jin Hyuk turned to look at him, "PJ brought the contract?"

"Yes, Qingyu has already signed it. It's a sky-high price, over 1 trillion (about 52.9 billion RMB)."

"Haha, I expected that. Now we can close the net and let them in."

"Yes." Jin Junyu took the order and walked out.

*** *** ***

Do Sun-ho and Lim Dong-wook from PJ Group sat in front of Park Jin-hyuk.

After the two sides exchanged pleasantries, Lin Dongxu said, "Qingyu has already signed the acquisition contract for PJ Logistics, and the price has changed a bit."

Park Jin Hyuk looked down at the contract in his hand and did not answer.

Lin Dongxu continued, "The price has increased significantly. The contract price is 1.05 trillion. We'd like to know...how much more do you plan to increase the price?"

"How much do you want me to increase the price?" Park Jin Hyuk asked in a calm tone.

"We hope DS will increase the price by 300 billion."

Lin Dongxu said aggressively.

After the completion of this merger, Do Sun-ho will have money to buy more shares of PJ Corporation, thereby defeating his two sisters and successfully taking over the PJ Group. Do Sun-ho has also promised to appoint Lin Dongxu as vice president.

The position second only to the emperor and above everyone else is already beckoning to Lin Dongxu.

Park Jin Hyuk raised his head and looked at Lim Dong Wook.

This look gave Lin Dongxu a sense of déjà vu. He remembered Do Sun-ho's father, Chairman Do Byung-sik, the founder of PJ Group.

"What is the basis for asking for a 300 billion won price increase?" asked Park Jin Hyuk.

"Initially, Qingyu's offer was 300 billion. You agreed to increase it by 100 billion, which is 33%. Now the final contract price is 1.05 trillion. 33% of 1 trillion is 330 billion. Considering your relationship with Minister Du, we are willing to write off 30 billion. That's how we got the 300 billion."

Park Jin Hyuk still didn't respond. Seeing this, Lin Dongxu continued, "PJ Logistics has industry-leading technology, comprehensive business processes, and experienced employees. The fact that you're interested in it shows that you have great vision. What do you think? If you agree to increase the price by 300 billion, let's sign the contract as soon as possible."

After saying that, he looked at Park Jin Hyuk.

"Negotiations haven't concluded yet, so how can we even talk about signing a contract?"

"This price is already very reasonable, we do not accept any bargaining."

"…….I have no intention of bargaining." Park Jin Hyuk said lightly.

Upon hearing this, Du Xianhao immediately perked up, "President Lin, what did I say? My brother doesn't have the habit of bargaining."

Do Sun-ho seemed to have completely forgotten what happened in the hotel suite.

"Well... I'm sorry, I was wrong." Lin Dongxu said.

However, Park Jin Hyuk shook his head.

"You two misunderstood. When I said I wouldn't bargain, I meant I didn't intend to continue this transaction."

"What?" Lin Dongxu and Du Xianhao widened their eyes at the same time.

"Do you want to give up? If you give up now, you will have no chance. Qingyu has already started the acceptance procedure." Lin Dongxu still wanted to persuade Park Zhenhe.

"I wouldn't buy it even if the price increased by 30 billion, not to mention 300 billion."