Chapter 436 Zhang Junfeng's purpose is to take advantage of the situation
"We at Comet Capital are also concerned about the situation of domestic credit card companies. It's just that overdue credit cards are becoming more and more common. Even if we at Comet Capital are willing to provide low-interest loans to help LG Credit Card Company tide over the difficulties, are you sure that you can completely eradicate the problems of LG Credit Card Company?" Zhang Junfeng drank a cup of tea and savored the faint tea fragrance lingering between his teeth, then slowly asked the other party the key question.
"…This problem is indeed tricky. According to the current relevant legal provisions, when these credit card users fail to repay their debts on time, even if we arrange for personnel to go to their homes to collect the repayments, it may be difficult for them to repay the remaining debts." Ju Zijing said somewhat embarrassedly.
LG Group had certainly considered going to the door to collect debts, but according to their initial investigation, most of these credit card users were reckless in buying things after getting the money. The credit card limits they applied for were spent in a short period of time. Now it was extremely difficult to expect these guys who had few coins in their pockets to spit out the money~!
…
After hearing what Gu Zijing said, Zhang Junfeng did not answer immediately, but said seriously, "I already understand what Chairman Gu meant. But KB Bank also has certain requirements for providing large loans! With the current situation of LG Credit Card Company, the loans provided are very likely to be unable to be repaid..."
Gu Zijing, who looked kind but was quick-witted, heard what Zhang Junfeng said. How could he not understand what he meant? After a little thought, Gu Zijing said that their LG Group would not make things difficult for Zhang Junfeng and could use the shares of other subsidiaries as collateral to apply for a loan of 600 million US dollars from KB Bank.
Seeing that the other party had taken the bait and his goal had been half achieved, Zhang Junfeng smiled and replied, "I have already felt Chairman Gu's sincerity, but LG Group needs more funds. I am afraid that such a loan is enough to buy out many subsidiaries of LG Group. After all, Comet Capital invests in companies to gain profits, not to operate the companies. If Chairman Gu is willing, why not use the shares of LG Electronics, LG Chem, or LG Household & Health Care under LG Group as collateral?"
Gu Zijing looked at Zhang Junfeng, who was smiling brightly in front of him, and felt a pain in his heart. This kid was so ruthless at such a young age! He directly pinched the lifeblood of their LG Group at the critical moment of the negotiation! Originally, he planned to mortgage some unimportant company shares to KB Bank in exchange for funds.
If in the future, the LG Credit Card Company under their group is really in a state of disrepair and cannot be "rescued", and the loan applied for from KB Bank cannot be repaid, then the operating rights of those less important companies will be lost, which will not have a major impact on the operations of the LG Group.
But the LG Electronics, LG Chem and LG Health Life that Zhang Junfeng is targeting are all core subsidiaries of the LG Group, and each of them has brought considerable profits to the LG Group. If there is a problem with the management rights of these core companies, then the LG Group will be seriously damaged!
…
Seeing that Ju Zijing did not give a routine reply, Zhang Junfeng did not urge him, but smiled and comforted him, "If President Ju still has concerns, you can go back and think about it. There are quite a few credit card companies that have made appointments with us to discuss cooperation in the past few days. We at Comet Capital cannot reject all of them. We still have to squeeze out some time to meet and chat..."
Zhang Junfeng's words were like a sharp thorn that directly awakened the hesitant Gu Zijing. He was busy thinking about the gains and losses of their LG Group and completely forgot that in addition to LG Credit Card Company, many "peers" had the same problem. If Zhang Junfeng lent the loan from KB Bank to other companies, would it be as easy for their LG Group to apply for a loan later?
There’s no guarantee that this guy will take the opportunity to raise the price and propose more demanding conditions. Then we’ll be in a difficult situation!
"...Wait a moment! Chairman Zhang Junfeng, I have thought about it. Comet Capital's request is very reasonable and our LG Group can agree to it. But how long will it take for the loan from KB Bank to be in place?" Gu Zijing quickly stated the decision he had just made.
Now that I'm here, it would be a waste of time if nothing gets done and the LG credit card issue is not resolved!
"Haha, since Chairman Gu is willing, I will have someone draft the contract. As long as Chairman Gu signs the contract, I will say hello to KB Bank, and tomorrow or the day after tomorrow LG Group will arrange for someone to bring the mortgage contract of the pledged company shares to KB Bank for verification. The large loan is expected to be credited within 2-3 working days~!" Seeing that his goal was about to be achieved, Zhang Junfeng was in a very good mood.
He had been eyeing the opportunity to get shares of LG Group's core subsidiaries, especially the many cosmetics brands under LG Health & Life, for a long time but never had the chance. Now he finally had the opportunity to get some shares of LG Health & Life in an open and aboveboard manner. This was definitely a very cost-effective deal for Zhang Junfeng!
In addition to LG Health & Life, LG Electronics and LG Chem are also good companies, and their profitability is not inferior to LG Health & Life. Under normal circumstances, it would be difficult for an "outsider" like Comet Capital to get involved. It has to be said that the chaos of domestic credit card companies is a great opportunity for Comet Capital, which has a large amount of funds~!
…
After seeing off Gu Zijing and other LG Group staff, Zhang Junfeng looked at the contract that had just been signed on the table and smiled brightly.
Wu Xiuying at the side asked at the right time, "Boss, Zheng Mengxian from Hyundai Group will be here with his people in an hour. Do we need to prepare the contract to be signed in advance?"
"…We need to put the Hyundai Group contract on hold for now. It's still unclear whether we can reach an agreement with him, so there's no need to rush to prepare." After thinking for a moment, Zhang Junfeng decided to meet him first to see the situation.
He couldn't tell what kind of situation Zheng Mengxian was in before he met him. Hyundai Group had encountered many thorny problems in the past few years, but Zheng Mengxian was able to get a large amount of funds at critical moments. He was quite capable. To be honest, he was also very curious about what price Zheng Mengxian had paid to get so much money.
As for the other party wanting to apply for a huge loan like the LG Group, it's no wonder that he asked the other party to use the shares of other subsidiaries under the group as collateral!
If possible, he hopes to take over the management rights of the remaining subsidiaries one by one, and then merge them into the new Hyundai Group managed by Zheng Mengjiu. Perhaps one day in the future, Zhang Junfeng will be able to piece together the Hyundai Group, which was once ranked first in Goryeo, and reproduce its glory.
…
In the afternoon, Zhang Junfeng arrived at the venue on time and met Zheng Mengxian and others who had been waiting there for several minutes. Zheng Mengxian was wearing glasses as usual, but he looked less bookish and had changed significantly from his high-spirited self a few years ago. He looked much more haggard, and he had some white hair on him, even though he should have been living a life of luxury.
"It's been a few years since we last met. I didn't expect Chairman Zheng Mengxian to look much more mature~!" Zhang Junfeng didn't rush into talking about business, but started to joke with him.
Zheng Mengxian's face turned ugly when he heard Zhang Junfeng's teasing words, but he suppressed his anger and did not lose his temper. Instead, he replied in a low voice, "President Zhang Junfeng is thoughtful. Our Hyundai Group has encountered many problems during this period, but fortunately they have all been solved smoothly."
"...Everything has been resolved smoothly? Chairman Zheng Mengxian's words are not right, right? If everything has really been resolved, I don't think you would have come to visit our Comet Capital just because of the Hyundai Credit Card Company's matter?" Seeing that Zheng Mengxian was still "flattering" himself, Zhang Junfeng naturally would not indulge him and directly exposed his disguise with one sentence.
Zheng Mengxian looked at Zhang Junfeng's asking-for-a-punch smiling face, and clenched his left hand under the table into a fist. He wished he could punch this hateful guy directly, but reason told him that if he really did that, Hyundai Group would have no chance to resolve the crisis that was about to break out!
He took a long breath, barely suppressing the anger in his heart, and then said in a calm tone, "...Since President Zhang Junfeng already knows the purpose of our visit, can Comet Capital provide us with some help? As long as KB Bank can provide us with a loan, I am confident that I can properly resolve the problem with the credit card company."
"It's a good thing that Chairman Chung Mong-sun is confident, but he still has to face reality. If confidence could solve any problem, there wouldn't be the new Hyundai Group now, right?" Zhang Junfeng's smile gradually disappeared, and his tone gradually turned cold. "Given the current deteriorating operating conditions of the Hyundai Group, why do you think KB Bank should provide you with a loan?"
There is no mistake in the poem, post, content, and read the book on 6, 9, and bar!
"And given the current situation of the Hyundai Group, how much can it offer as collateral?!"
Hearing Zhang Junfeng's cold words that pierced his heart and lungs, Zheng Mengxian was so angry that he went berserk on the spot. Zhang Junfeng, this bastard, was just rubbing salt into the wounds of him and Hyundai Group~! If this guy hadn't provided a lot of financial assistance to that bastard Zheng Mengjiu, how could a new Hyundai Group emerge? ! The loan he applied for from Lehman Brothers should have been able to keep the operating rights of most of the companies under the group, but Zhang Junfeng, this guy, acted as a troublemaker and messed up his plan~!
"…Since President Zhang Junfeng has no intention of cooperating, we will not bother him anymore!" Zheng Mengxian glared at Zhang Junfeng coldly, and then did not hide his thoughts anymore. He stood up and prepared to leave as soon as he finished speaking.
Zhang Junfeng saw this and realized that he seemed to have gone too far. This guy was a little bit broken. But his goal had not been achieved yet. It was a pity to mess things up directly! "If Chairman Chung Mong-sun also knows in his heart that there is no other financial institution in Goryeo that can provide large-scale low-interest loans in a short period of time except KB Bank under our Comet Capital, right? Chairman Chung Mong-sun must also be aware that state-owned banks have become more stringent in their audits and cannot provide large loans to enterprises..."
Zheng Mengxian, who had just walked away from his chair, froze in place. How could he not know what Zhang Junfeng said? If there was no other way, why would he follow his subordinates here to "humiliate himself"? It was just to save the remaining Hyundai Group and not let himself lose miserably!
"Chairman, if you just leave at this point, the group's debt problem will explode! By then, I'm afraid the Hyundai Group will really be lost..." Seeing that the atmosphere was a bit tense, the subordinates on the side hurried to Zheng Mengxian and reminded him in a low voice.
Zheng Mengxian, who was originally a little angry, heard his subordinates say this, and the entanglement and frustration in his heart soon surged up again. He had finally convinced himself to bow to Zhang Junfeng, the hateful guy and enemy, in the hope of getting funds to save the Hyundai Group. Now if all the previous efforts are in vain, wouldn’t all his previous suffering be wasted? ! Seeing this, other subordinates also spoke up and tried to persuade Zheng Mengxian to change his mind. After all, if the Hyundai Group really collapsed, then their good days would also disappear! For the common interests of everyone, they can only let their unlucky chairman "suffer" again!
…
Seeing Zheng Mengxian suppress his resentment under the persuasion of the crowd and sit back in his seat, Zhang Junfeng smiled brightly. The other party's actions just now have revealed many problems in disguise. If his guess is correct, the situation of Hyundai Group should be extremely bad. Otherwise, according to Zheng Mengxian's proud character, how could he swallow his anger to this extent after being ridiculed like this? When Zheng Mengxian proposed that he needed 500 million US dollars for the capital turnover of the credit card company, Zhang Junfeng also proposed that he needed something of equal or even more value as collateral, and the first thing to bear the brunt was the shares of many subsidiaries under Hyundai Group.
However, upon hearing Zhang Junfeng's request, Zheng Mengxian hesitated. He seemed to be somewhat resistant to such a request, which surprised several subordinates beside him and Zhang Junfeng. Since this guy has been patient to this extent, as long as he agrees, he can get the loan he has been thinking about for a long time, why is he backing down at this time? !
(End of this chapter)