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 379: Year-end Dinner

Lin Dongxu asked anxiously: "Why? Can you tell us the reason?"

After the dispute over management rights broke out in the PJ Group, investors began to buy a large number of PJ Corporation shares so that they could sell them to the siblings at a high price when they competed for equity.

As a result, the stock price of PJ Corporation rose significantly, offsetting the effect of the increase from 300 billion to 1 trillion.

Therefore, even charging an extra dollar is very important to them now.

Seeing that Park Jin Hyuk was unmoved, Lin Dongxu slowed down his tone. "Let's put it this way. 300 billion is not off the table. Although this price is reasonable, since we are negotiating, we should all make some concessions. What do you think is a suitable amount?"

Lin Dongxu thought, he wouldn’t be able to cut the price down to 100 billion.

"It's not about money." Park Jin Hyuk said lightly.

Lin Dongxu was a little confused. "It's not about money?"

"There have been a lot of rumors about me circulating lately. Have you two heard about them?"

Lin Dongxu and Du Xianhao both shook their heads. Of course they had heard those rumors, but they knew that now was not the time to discuss such topics.

"There were also rumors that I was taking drugs in a PJ hotel."

"Is there such a thing?" Du Xianhao said.

"Yes, these are all false stories, but who spread them?" After saying this, Park Jin Hyuk stared at Do Sun Ho intently.

Lin Dongxu also turned his head and glanced at Do Xianhao. He had indeed heard such rumors.

Do Sun-ho quickly waved his hands, "It's not me, I never said anything like that."

"No matter who said that, I can't consider this business anymore."

Lin Dongxu quickly said, "Do you think this is okay? ... Let's clarify to the public that there is no such thing."

"This isn't something that can be resolved simply by clarification. The time, location, and people all match, so how can it possibly be explained? The Fair Trade Commission will likely reject the merger and acquisition because of this."

Lin Dongxu stopped talking. This was indeed a possibility, and Do Xianhao felt extremely aggrieved.

Park Jin Hyuk said helplessly: "Let's just pretend we never discussed this deal."

Then he added, "Anyway, it was because of the competition between me and Qingyu that you sold PJ Logistics for a good price, right?"

"But the stock price of PJ Corporation has also risen." said Do Sun-ho.

"That's not my concern."

Do Sun-ho and Lim Dong-wook were silent again.

After a long silence, Park Jin Hyuk pressed the intercom to inform Jin Junyu outside: "My two guests are leaving. Please arrange a car."

"Vice President Park..." Lin Dongxu wanted to say something else.

“I hope we’ll have the opportunity to work together in the future.”

"Can't you really think about it again?"

"It's election time now. If the Fair Trade Commission investigates, DS Group and I will be in big trouble, so there's nothing I can do."

"Will the Fair Trade Commission really investigate?"

"Please stop talking. I suggest you go back and sign the contract. If Qingyu gets to know about this, he might regret it."

Having said that, Do Sun-ho and Lin Dong-wook had no choice but to get up and say goodbye.

*** *** ***

Qingyu acquired PJ Logistics at a cost of 1 trillion yuan. As soon as the news came out, it immediately caused an uproar.

Because Qingyu was competing with DS Group, everyone knew the price would be high, but spending 1 trillion to buy an unprofitable company was shocking.

Especially within Qingyu, the veterans led by Jin Chengren publicly expressed their opposition to the merger and acquisition.

In the office, Park Jin Hyuk is listening to Kim Jun Woo's report.

“Vice President, Qingyu has paid a down payment of 250 billion to PJ and has started due diligence.”

"Hasn't due diligence already been done?"

“I guess they want to do it again and raise the appraisal price in order to quell internal opposition.”

"How can you do that? Isn't that cheating?"

"It is estimated that the assessment value was increased on the grounds of rising land prices."

If Lee Jung-sook does this, she will only further lose internal trust.

Park Jin Hyuk smiled and said, "Then let's give her another gift and have DS Energy announce the news immediately."

"yes."

Following Park Jin Hyuk's instructions, DS Energy released the following news:

DS Energy has completed the purchase of 70 million barrels of crude oil, and a tanker loaded with crude oil is about to arrive at the port.

The report also mentioned that the crude oil was sold to DS Energy by JH Investment Company at a price of US$30 per barrel.

The current oil price is approaching $50 per barrel. Industry insiders believe that Park Jin Hyuk purchased this batch of crude oil at the lowest point, so he was able to sell it at $30.

DS Energy's stock price rose 30% the day after the news was announced.

If DS Energy resells the crude oil, it can earn $20 per barrel, which is equivalent to about 1.5 trillion yuan. If the refining profit is added, the profit will be even higher.

DS Energy, which had always been unpopular among investors, escaped the crisis in an instant.

*** *** ***

As the year draws to a close, Park Jin Hyuk is having dinner with the presidents of DS Group's major subsidiaries. At the dinner table, DS Energy has become a hot topic of discussion.

DS Securities also made a lot of money because of the surge in DS Energy's stock price.

Zheng Zanyong asked Park Jin Hyuk with a smile: "Vice President, don't you think it's a pity?"

"It's good for me if DS Energy can turn the crisis into safety, isn't it?" Park Jin Hyuk said, glancing at DS Energy's President Kim Dong Seok.

After swallowing the steak in his mouth, Jin Dongxi said, "The gross profit of refining has now exceeded $3 and is almost back to the previous level. Fortunately, we followed your instructions and waited patiently until now."

"No, this is the result of everyone's hard work."

“Without your wise leadership, this result would not have been possible.”

"Thank you..." Park Jin Hyuk turned to Kim Jung Jin and asked, "How is the data center business going now?"

Kim Jung-jin put down his glass of red wine and replied, "We plan to enter the European market in the first half of next year. We are also considering adding data centers in Europe and the eastern United States."

"I've seen the report you submitted. The overall benefits are very good. I don't have much time to pay attention to you now. I'll leave all my time to you."

"Yes, I will definitely live up to your expectations."

All the businesses of DS Group are thriving, so the atmosphere of the dinner was very good and everyone chatted easily about how to celebrate the New Year.

After a busy year, Park Jin Hyuk can finally take a breath.

The only major problems left were Qingyu and Li Zhenshu.