The economic turmoil caused by the Paris flu showed no signs of abating.
At this time, an unexpected incident attracted people's attention.
In Park Jin Hyuk's office, a program on the economic channel was playing on TV.
"Qingyu Property & Casualty Insurance's stock wasn't popular before, but it's been hitting the daily limit for two consecutive days. What's the reason?"
"Recent rumors that DS will launch a hostile takeover of Qingyu Property & Casualty Insurance have sparked investor speculation."
"Where did the rumor come from?"
"This rumor was sparked by JH Investment, which continuously bought 1.1 million shares of Qingyu Property & Casualty Insurance."
"JH Investment is the parent company of the very famous Rising Sun System Integration in the United States, right?"
"Well, Asahi System Integration is about to go public in the US. If it's successful, the funds raised will be enough to shake up the Nasdaq and S&P indices. Its parent company is JH Investment, which is the personal business of Park Jin-hyuk, director of DS Group."
“I heard that JH Investment also purchased a large amount of crude oil from Aramco.”
"Yes, Director Park Jin Hyuk is known as a genius in the investment world, so JH's investment in Qingyu Property & Casualty Insurance shares has attracted widespread attention."
Park Jin Hyuk has become accustomed to various comments from the outside world.
After giving instructions to Guo Xiji, he once again received the feedback he hoped for.
"Before Director Park Jin-hyuk bought into it, Qingyu Property & Casualty Insurance's market capitalization was only 300 billion yuan, making it a mid-cap stock. The company was originally profitable, but it started to suffer losses last year, so it wasn't a big investment for investors. But now, it seems there's still investment value..."
"How do you know?"
"It plays a very critical role in the equity structure of Qingyu Group."
"What's the reason for that?"
"Qingyu Group has not achieved vertical management. Some companies act as intermediate parent companies to control some of its enterprises. Qingyu Property & Casualty Insurance is one of these intermediate parent companies, controlling approximately 40% of Qingyu's subsidiaries."
"How could a company with a market capitalization of only 300 billion play such a significant role?"
"Yes, Qingyu tried to use this method to help the next generation complete the inheritance with lower taxes, but unexpectedly, Director Park Jin Hyuk found the loophole."
"As the son-in-law of the Cheongwoo Group, would Park Jin-hyuk really launch a hostile takeover? Is he playing the role of a white knight?" (Note: A white knight is a friendly individual or company that comes to the rescue of a target company and expels the hostile acquirer in the event of a hostile takeover.)
"Are you saying he's helping Qingyu Group close its loopholes? I'm afraid it's hard to draw such a conclusion. Right now, it looks more like a hostile takeover."
"Qingyu Group is in great danger this time."
The share price of Qingyu Property & Casualty Insurance has risen by 80% in the past two days, which has directly led to an increase in the share prices of all Qingyu's listed companies, including its parent company Qingyu Co., Ltd.
This is not good news for Qingyu's heirs, but it is a very good investment opportunity for investors.
At this time, Jin Junyu suddenly came in and said, "Director, President Cui Xiancheng of DS Insurance is here and wants to see you."
Park Jin Hyuk was very surprised by Choi Hyun-sung's arrival.
Seeing Choi Hyun-sung walk in, Park Jin-hyuk greeted him indifferently.
Cui Xiancheng sat down on the sofa.
Park Jin Hyuk didn't sit over, but sat on the class chair and asked, "What can I do for you?"
As he spoke, he glanced at the TV.
Although the volume has been muted, it can be seen from the screen that the topic of Qingyu Property Insurance is still being discussed.
"I came to see you because I heard some rumors." Cui Xiancheng said.
Park Jin Hyuk replied, "I'm watching TV too. You're talking about Cheong Woo Property & Casualty Insurance, right?"
Cui Xiancheng nodded, and then said bluntly:
"I think your decision is inappropriate. Acquiring Qingyu Property & Casualty Insurance is not a wise decision."
Park Jin Hyuk quietly looked at the old man who had followed his father for many years.
"Why do you say that?" Park Jin Hyuk asked back.
"Qingyu Property & Casualty Insurance's main business is fire, motor vehicle and marine insurance, which is a reinsurance business, while DS Insurance mainly operates life insurance. The two companies' business scopes are completely different and there is no synergy between them."
Hearing this, Park Jin Hyuk picked up the coffee cup in front of him, took a sip slowly, and then said:
"So, you are against the merger and acquisition of Qingyu Property and Casualty Insurance?"
"Yes."
"You know what? The acquisition of Qingyu Property & Casualty Insurance wasn't intended to create synergy with DS Insurance." Park Jin Hyuk put his cup on his desk and said, "Please go back. I understand what you mean."
Park Jin Hyuk had already ordered him to leave, but Choi Hyun Sung showed no intention of leaving.
Seeing this, Park Jin Hyuk told his secretary through the intercom: "Prepare the car, President Choi is leaving."
Then he turned and looked at Cui Xiancheng.
Things had come to this point, and it seemed he had no choice but to leave. Cui Xiancheng stood up, said goodbye, and walked out without looking back.
A few days ago, the Strategic Operations Office released a list of executives from various subsidiaries whose contracts would not be renewed, including Cui Xiancheng.
After receiving the notice, Cui Xiancheng reacted very strongly, claiming that he would never accept it and that he came today with dissatisfaction.
After Cui Xiancheng left, Jin Junyu walked in.
He could see that the conversation between the two was not pleasant, and for a moment he didn't know how to comfort Park Jin Hyuk.
"What are you staring at me for?" Park Jin Hyuk said.
Jin Junyu replied: "You don't seem very happy?"
"Why should I be unhappy? I didn't discuss anything with him. He opposed the merger with Qingyu Property & Casualty Insurance, and I said I understood. That's all."
"Is that all we talked about?" Jin Junyu thought that Cui Xiancheng came to pester him about whether to stay or leave.
"What else can I say? There's no need to explain the specific purpose of the merger to him. He's going home anyway, so let him say whatever he wants."
This large-scale dismissal of senior executives triggered a strong backlash within the DS Group.
Park Jin Hyuk said, "You know what? Sometimes it's easier to deal with enemies that band together than to fight them individually. If Choi Hyun-sung stands up and opposes us now, those people will gather around him, and it will be easier to catch them all in one fell swoop."
"It seems that you already have a solution..." Jin Junyu asked.
Just then, a secretary came in and said:
"Director, the old lady from Qingyu Group called."
"Oh? What did she say?" Park Jin Hyuk suddenly became interested.
"If it's convenient, please take your wife to Pohang."
"Pohang?"
Park Jin Hyuk turned his gaze to Kim Jun Woo, meaning to ask if the Qingyu family had a base in Pohang?
Jin Junyu shook his head.
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