"Just keep pretending to be innocent," Li Zhenshu said, then turned to the directors and said, "Let's have a meeting. The purpose of today's meeting is to discuss and resolve the long-delayed issue of the paid capital increase. Everyone is welcome to express their opinions."
President Jin Chengren spoke first, "Because PJ Group has terminated the sale of PJ Logistics, we have decided not to acquire PJ Logistics. What should we do with the funds raised from the paid capital increase? There are only two options: either promote existing businesses or invest in new projects. In short, we need to find new profit growth points for Qingyu."
The directors present at the meeting all had gloomy faces, and they were all dissatisfied with Qingyu's current situation.
A director asked, "President Jin, do you have any good suggestions?"
“I think participating in the new project jointly developed by DS and Chengsheng is the best choice.”
"Hasn't your suggestion been rejected?" Li Zhenshu interrupted Jin Chengren.
"Qingyu must find a new business breakthrough as soon as possible. It failed to participate in the photovoltaic projects planned by the next government, and it cannot afford to miss out on the US projects planned by Chengsheng and DS."
"Chengsheng is our competitor. Do we really need to cooperate with it?"
Kim Sung-in found Lee Jung-sook's point of view ridiculous, but he remained calm on the surface and said, "In the business world, there are no permanent enemies. If it is beneficial to the future development of the company, then it is not impossible to cooperate with competitors."
Many directors nodded in agreement.
"Sung Seung and DS plan to establish a specialty steel company in the United States and have already secured land for the project, isn't that right, Vice President Park?"
Park Jin Hyuk nodded and said, "Construction is scheduled to begin next week."
In response, a director expressed his doubts, "This project involves Chengsheng Group and DS. Will Chengsheng agree to our participation?"
"Please let Vice President Park answer this question," said Kim Sung-in.
"DS Group welcomes Qingyu's participation. I am confident that I can convince Chengsheng Group to agree to this. My sister is engaged to Cui Yixian, the president of Chengsheng Special Steel. Soon we will be a family."
The director said, “So that’s how it is.”
At this time, Park Jin Hyuk winked at Guo Xiji.
Guo Xiji said, "Sanfeng has given up on the paid capital increase for Qingyu. If the existing shareholders were to increase their capital, it would probably be difficult. JH Investment is willing to make a paid capital increase for Qingyu to help Qingyu solve its funding problem."
After hearing what Guo Xiji said, everyone's eyes turned to Park Zhenhe. Everyone understood that he was the behind-the-scenes shareholder of JH Investment.
Park Jin Hyuk immediately responded, "I agree with JH Investment's paid capital increase in Cheongwoo."
"I object," Li Zhenshu said again, "If that happens, Qingyu will become a subsidiary of DS. We have already rejected this plan."
Guo Xiji retorted: "The previous plan involved DS as the main body of capital increase, but now it is JH Investment. The two are different."
"Is there any essential difference? Aren't they all Vice President Park's companies?"
"Of course it's different. If you look at the companies under JH Investment, you'll see that we only play the role of strategic investors and never interfere with the specific operations of the companies."
Park Jin Hyuk continued Kwak Seok-gi's words, "The purpose of JH Investment's capital increase is to help Qingyu overcome difficulties. At the same time, we must also pursue returns. If we invest 2 trillion won in Qingyu, then I definitely hope that Qingyu will make good use of this 2 trillion won and invest this money in viable projects. I am optimistic about the special steel project in the United States. I will definitely find a way to get Qingyu involved in this project and ensure its success."
Park Jin Hyuk's words convinced the hesitant director.
Everyone wants to enter the US market, but the difficulty of entering the US market is also well known. Qingyu once tried to enter the North American market, but ultimately failed.
Therefore, Park Jin Hyuk's promise has extraordinary appeal.
Park Jin Hyuk continued to emphasize, "I know what you are worried about. I promise that DS will never interfere with Qingyu's operations. Qingyu will not become the next Dongjing Industry."
Most of the directors on the Qingyu board of directors were appointed by Han Junhuan. They have both good feelings and wariness towards Park Jin Hyuk.
"Today I have explained my true thoughts to you all. I will only say this once and will not repeat it a second time. Please make your decision."
Park Jin Hyuk is asking the directors to make a decision immediately.
He turned to look at Li Zhenshu, "If today's proposal is still rejected, then I will completely give up the paid capital increase in Qingyu."
Li Zhenshu replied, "Even if the board of directors agrees to this proposal, it will probably be rejected by the shareholders' meeting. We don't need to take this risk."
"We'll discuss the shareholders' meeting when it's held. We're asking the board of directors to come up with something now," said Jin Chengren.
An independent director said: "Ms. Lee Jung-sook is not a director, so we can decide whether to vote on it."
Jin Chengren immediately said, "I volunteer to preside over the vote. Do you agree?"
"Agree." said most of the directors.
"Okay, now let's vote by show of hands. Please raise your hands if you agree that JH Investment will increase its capital in Qingyu with compensation."
The directors raised their hands one after another, and the last independent director also raised his hand under the gaze of Li Zhenshu.
"All eight directors have raised their hands. This motion has been passed! This motion will be submitted to the shareholders' meeting for a vote as soon as possible. The next extraordinary shareholders' meeting will be held in two weeks. This concludes today's interim board meeting."
As soon as the words were spoken, the directors all stood up and left, as if no one wanted to get involved with Li Zhenshu anymore.
Park Jin Hyuk was the only one left in the venue.
Li Zhenshu said to him, "Isn't this all the result of your manipulation?"
"How is that possible?"
"Do you think I'm a fool?"
"You didn't do your homework. Since you knew you couldn't acquire PJ Logistics, you should have thought of other options."
Li Zhenshu continued to question, "It was you who was behind Sampoong's withdrawal from the paid capital increase, wasn't it?"
"It's too late to see it now."
"You..." Looking at Park Jin Hyuk, Lee Jung Suk was speechless.
"What you can do now is to find a way to convince Qingyu's shareholders at the shareholders' meeting not to accept the third-party capital increase from JH Investment, but to instead ask existing shareholders to increase their capital. Let's see if you can come up with any good ideas."
After saying that, Park Jin Hyuk stood up.
Jin Junyu followed him out of the meeting room. "Vice President, aren't you talking too much?"
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