The car drove to the parking lot by the Han River.

As soon as the car stopped, Xuan Yizhu said:

"The DS Group now has seven major business segments, and the holding company, DS Corporation, controls these seven businesses."

"I know all this, but what does this have to do with inheritance?"

“Ultimately, who becomes president is determined by the number of shares held in the holding company.

If Chairman Park Jun-wan intends to hand over the chairmanship to you, he will need to transfer approximately... 25% of the shares to you. That way, you will undoubtedly be able to control the entire DS Group."

"25%. I currently hold 5% of the shares, which means I need to hold 30% of the shares to gain control of the group."

"The problem is that when transferring shares, the gift tax you have to pay is about 1 trillion to 1.5 trillion won."

"One trillion and a half trillion! That's a lot."

"It's about this amount. In short, you need to have more than 1 trillion in cash to take over that 25% stake."

"One trillion won..."

He understood why Hyun Yi-soo said that he could not inherit the entire DS Group because he did not have that much cash.

Now, most of Park Jin Hyuk's assets are stocks.

Moreover, he couldn't touch the 5% of DS shares.

Now, let alone 1 trillion won, he can't even come up with 100 billion won.

Park Jin Hyuk lowered his head, and Xuan Yizhu continued:

“This is why it takes decades for many large companies to be handed over to the next generation.

If you want to use the shares you get and pay the gift tax, you have to sell more than half of the shares, which will affect control, so it is impossible.

In the past, under the corporate structure of circular shareholdings, it was still possible to operate, but under the current vertical management structure, whether it is gift tax or inheritance tax, it is impossible to escape. "

"Is there no way out at all?"

"Ten years ago, there was a way to do this. For example, you could first acquire equity in a non-listed company, transfer the business to that company, let it grow and become a public company, and then sell the equity. In this way, you could get the cash you need.

In the past, most heirs completed their inheritance in this way, but now, this path is no longer feasible."

"Um……"

This practice has been banned by law, and heated debate broke out when the legislation was first enacted.

"What's strange is that the president hasn't taken any action regarding the succession issue...

Other groups begin preparing for succession when the heir is still a minor, completing the process bit by bit over several decades."

"Director Wu is also very clear about this, right?"

"Madam must know this."

"I believe she will take action soon."

"Any action?"

"Right now, I have the advantage over Sang Hyuk, so they will definitely make some moves, so we have to prepare accordingly."

Xuan Yizhu nodded.

"Understood. I will take steps to deal with it."

"With you here, I feel more at ease. We have to solve the problems one by one, and let's solve the bond maturity issue first."

Hyun Yi-soo and Kim Jun-woo both agreed with this.

They then discussed some specific issues regarding bond maturity.

Then the car restarted and drove towards the DS construction building.

*** *** ***

Not long after the monthly meeting, the creditors responded.

“Creditors are starting to investigate our financial situation.”

Ding~Ding~Ding~

Park Jin Hyuk sat at his desk, drumming his fingers on the table.

Xuan Yizhu said to him:

“Several bondholders have made it clear that there will be no extensions.”

"What's the reason?"

“We believe we are not solvent.”

“The receivables from the Basmaya project have been collected, but they still say that?”

“Yes, some unprofitable projects have also been terminated. Actually, solvency is no longer a problem for the time being.

However, due to the numerous problems accumulated in the past, most of the incoming funds will have to be used for the Basmaya project to pay for labor costs and downstream engineering costs.”

"Six trillion yuan came in, and it's still not enough. If it's not recovered...it seems he knows everything about us, so he keeps bringing up our funding issues."

Park Jin Hyuk remembered Park Soo Wan's weird smile again.

Xuan Yizhu asked tentatively:

"Should we meet the bondsman first?"

"If so, who should I meet? There are more than one or two creditors, right?"

"There are two or three large banks. Although the proportion of debt they hold is not high, no more than 20%, the banks have great influence. If they agree to the extension, others will follow suit."

"Then let's meet, the sooner the better."

"Okay, I'll contact them right away."

After saying that, Xuan Yizhu walked out of the office.

Liu Zhengjie really likes dealing with people.

I don’t know whether this is innate or acquired, but in any case, he likes to communicate with people and enjoys the process of competing with them in wits and courage.

Park Jin Hyuk sat in his boss chair, thinking about what actions Park Soo Wan might take.

The creditors' refusal to agree to the extension was most likely not their intention, but the result of Park Soo-wan's influence.

He closed his eyes and leaned his head back against the chair.

Not long after, Xuan Yizhu came back.

My dear, there is more to this chapter. Please click on the next page to continue reading. It will be even more exciting later!