Guo Xiji asked: "What is the difference between DS's capital increase and your personal capital increase?"
"Of course there's a difference. If DS increases its capital, DS will become a shareholder of Qingyu. If I increase the capital, both will be listed under my name, which will make it much easier for Qingyu to accept. I've been planning this for a long time, and now the time is finally ripe... Now all you need to do is let the directors of Qingyu know that JH Investment has enough funds for the capital increase, and then they'll come to us on their own."
*** *** ***
On this day, in Park Jin Hyuk's office, Kim Jun Woo came in and reported, "Vice Chairman, President Kim Sung In is here."
"Please ask him to come in."
Park Jin Hyuk put down the document he was reviewing and sat on the sofa.
Soon Jin Chengren walked in, "Hello, Vice President."
"President Jin, come and sit down."
"I'm very sorry that I came here without making an appointment in advance," said Jin Chengren.
"You're welcome, you're welcome to come anytime."
Park Jin Hyuk turned around and asked Kim Jun Woo to make tea, then asked Kim Sung In, "Is there anything I can help you with?"
"I came here to discuss Qingyu's paid capital increase."
"I heard it's not going well."
“Now no one knows what to do.”
The secretary brought in tea, but Jin Chengren lowered his head and seemed to have no interest in drinking it.
After pondering for a long time, he raised his head and said, "Vice Chairman Park, I'd like to know if DS Group can increase its capital with compensation."
"DS Group is increasing its capital with compensation?"
"The directors all think this is probably the best solution at the moment. I would like to hear your opinion?" said Jin Chengren.
Park Jin Hyuk shook his head. "I'm afraid that's not appropriate."
"Why?"
"Qingyu's total market capitalization is currently around 7 trillion yuan. If DS Group increases its capital by 2 trillion yuan, it will be able to control more than 20% of Qingyu's equity..."
If the shares already held by Park Jin Hyuk and Han Ji Yeon are taken into account, they will be on par with Chairman Han Jun Hwan, which means that Qingyu is controlled by DS Group. This is probably a result that most Qingyu executives and employees do not want to see.
When DS Group acquired Dongjing Industry, there was considerable opposition from within the industry. Dongjing Industry was much smaller than DS Group, yet there was still so much opposition. Qingyu was once a larger company, ranking ahead of DS Group, so there must have been even more internal opposition.
Park Jin Hyuk continued, "While the directors of Cheongwoo welcome DS Group's capital increase, the employees may not agree... Moreover, the use of the funds after the capital increase has become a question."
A few days ago, PJ Group clearly announced that it has no plans to sell PJ Logistics.
Do Sun-ho, who advocated selling PJ Logistics, has been fired and withdrawn from the front-line management. Lin Dongxu, who participated in the sales negotiations of PJ Logistics, has been removed from his position. Therefore, the acquisition of PJ Logistics is no longer possible.
"Asking DS Group to increase its capital now is like asking us to jump into a fire pit, isn't it?" Park Jin Hyuk said.
Jin Chengren said seriously, "At first, several other directors and I strongly opposed the capital increase."
"Can I cancel it now?"
"The decision the board just made cannot be reversed immediately. It concerns the company's reputation."
"I have thought of a way, but I don't know..."
Jin Chengren looked at Park Jinhe, "Oh, do you have any good ideas?"
"...DS Group is planning to collaborate with Chengsheng Group on a project. I wonder if Qingyu Steel is interested in participating?"
"What's the project?"
"We plan to establish a joint venture to produce special steel."
"Special steel? DS has never been involved in the special steel business, right?" Jin Chengren asked.
"So the cooperation model for this project is that DS provides the funds and Chengsheng provides the technology. We plan to acquire a local steel company in the United States and develop infrastructure construction business."
"Merge with a US steel company? Will the US government approve it?"
"You don't have to worry about government approval."
Seeing Park Jin Hyuk's confident look, Kim Sung In was a little tempted. Being able to enter the American market was too tempting.
*** *** ***
After Chung Kye-young was elected president of South Korea, public opinion began to report on his future policy guidelines.
[In the next five years, the government plans to invest 20 trillion yuan in photovoltaic projects]
[Sanfeng Group is placing all its bets on the photovoltaic industry]
[After acquiring a photovoltaic panel manufacturer, Sanfeng Group plans to continue expanding production]
[Sanfeng Group to build photovoltaic power plants in the United States]
Sanfeng Group has made various positive responses to the government's photovoltaic project plans.
In Park Jin Hyuk's office, Jin Junyu reported to Park Jin Hyuk: "Vice Chairman, President Guo asked if it is possible to start purchasing Qingyu's shares now?"
“What’s the current price?”
"Yesterday, the price per share fell below 70,000 won and closed at 10,000 won."
“It’s already dropped quite a bit, but let’s wait and see; the price is still a bit high.”
Then, Park Jin Hyuk asked another question of concern, "What's the situation in the United States?"
Jin Junyu placed the tablet in front of his boss. "The presidential election is turning in our favor. Here are the results from today's vote in Minnesota."
"Have Governor Brown's approval ratings changed?"
"His support rate is rising, and he has a high probability of defeating Senator Schneider and becoming the party's presidential candidate." Jin Junyu's tone was full of excitement.
No one expected this situation to happen beforehand, except Park Jin Hyuk.
Park Jin Hyuk said, "I told you he will be the president of this term...Didn't Governor Brown make any requests to DS?"
"I was just about to report that Governor Brown's campaign office is hoping that DS will contribute $50 million, saying that with that much money, Governor Brown will be able to decisively defeat Senator Snyder."
After thinking for a moment, Park Jin Hyuk said, "Tell President Guo to donate all the money in JH Investment's US account to Brown."
Jin Junyu's eyes widened. "JH Investments has nearly $200 million in its US account. Are they going to donate all that money to Brown?"
"Yes, donate it all to Brown," Park Jin Hyuk said clearly. "Of course, we can't give it to him in vain. After he's elected president, he should fully support DS Group's expansion into the US market. Have President Hyun talk to Governor Brown and get his written commitment."
Park Jin Hyuk glanced at Kim Jun Woo and continued to explain, "All that money was earned in the United States anyway, so it's better to spend it on Americans. We've invested 200 billion won now, and we might be able to earn 2 trillion or 20 trillion won in the future."
"Yes, I understand." After saying that, Jin Junyu walked out.
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