In early September, the Blue House officially released the "Credit Card Company Soundness Supervision Strengthening Standards", requiring credit card companies to issue credit cards according to certain standards and restrict cash withdrawals from credit cards of some frequent defaulters; however, this did not completely solve the problem, and "taking money from Peter to pay Paul" or directly looking for micro-loan companies became the choice of many defaulters.
By the end of November, a large number of domestic credit card companies went bankrupt, and even a financially strong giant like LG Group could not reverse its fate of bankruptcy.
From another perspective, these credit card holders have also reaped the benefits of big companies and chaebols in disguise. However, the cost of this reaping the benefits is extremely high. Due to a large number of overdue bad debts, the holders have even lost their jobs and become homeless people who are not welcomed by others.
…
Five Star Group, inside the president’s office.
Looking at Zhang Junfeng and his subordinates who were specially invited to discuss countermeasures, Li Jianxi sighed helplessly, "Junfeng, according to the current situation, how should we deal with the credit card company under our Five Star Group? Should we announce that we will give up operations and package up the credit card company's business and bad debts, or continue to operate and collect the outstanding debts from those credit card holders?"
"In fact, I am more inclined to the former. If they want to continue to operate, they must mobilize new funds for turnover. And no one knows whether the hole in the credit card company can really be filled. Of course, there is also a great possibility that the Five Star Group has spent a lot of time and energy, but in the end it is all in vain!"
“If my father-in-law doesn’t believe me, you can ask President Jin Youdao of the Black Panther Security Company to describe how difficult it is to collect debts from private lending companies in recent years…” Zhang Junfeng saw that the other party still had not made up his mind to give up the operation of the credit card company, so he threw out his “trump card”.
Since Zhang Fushan's illness showed signs of getting worse a few years ago, Zhang Fushan transferred the loan company business in Myeongdong to Zhang Junfeng. The Black Panther Security Company was responsible for collecting the debts. However, collecting debts has never been an easy task. Many people even disappeared without a trace in order to avoid debt.
They also had to use the other party's family members as bargaining chips to force the other party to pay back part of the debt. If they want the other party to pay back all the debt, it often takes more time and energy.
…
After listening to Kim Woo-do's story about debt collection, Li Jianxi and Li Jae-yong looked at each other with some embarrassment. In the end, it was Li Jianxi, the chairman of the group, who took the initiative to give up the continued operation of the credit card company.
Their Five Star Group is now the largest enterprise and chaebol in the country. If they really want their subordinates to risk everything to collect debts like the Black Panther Security Company did, it would be too cheap.
Li Zairong, who was standing by, was secretly relieved when he heard his father Li Jianxi say that he was going to give up the credit card business. He still remembered what Zhang Junfeng had said to him before. If they really persuaded Zhang Junfeng to provide a loan to save the credit card company, the other party might ask them to provide an equivalent amount of subsidiary shares as collateral! ...
After talking about the credit card company, Li Jianxi and his son and Zhang Junfeng quickly talked about the presidential election. According to the current situation, Li Huichang, who was supposed to be far ahead, has now exhausted his advantage, while Wuxuan, who was originally far behind, has been trying hard to catch up, and the gap between the two sides is not obvious at present.
"...Junfeng, do you think Wu Xuan or Li Huichang will be the final winner?" Li Jianxi tentatively asked his guess.
According to the usual practice of these large companies, in order to ensure that the interests and development of the group will not be targeted by the other party after the new president takes office, they often use the method of "donation" to win over the other party. However, now they are undecided about who will win. If they bet rashly and lose, it is very likely to be a huge loss for their Five Star Group.
Seeing his father asking Zhang Junfeng about Lee Hoi-chang and Wu Xuan, Lee Jae-yong was also quite interested. The reason why Hyundai Group was able to become the largest enterprise in Goryeo was inseparable from the "secret donation" of the former chairman Chung Ju-yung, and it was able to prosper with the strong support from the Blue House.
However, the current Hyundai Group is no longer as strong as before, so naturally it no longer makes donations to the new president of the Blue House.
“…Although I am optimistic that Wu Xuan will win the election, based on his personality and style, I don’t think he is a target worthy of a large investment from the Five Star Group~!”
After hearing what Zhang Junfeng said, Li Jianxi and his son, who were originally very interested, fell into confusion. For so many years, these chaebols and large companies have been doing this. Since the other party may win the election, how can it not be worth investing? "Junfeng, do you have any misunderstandings about the "donation"? The previous presidents all did this, and he should have no reason to refuse~!"
…
"Father-in-law, please be patient. I say this with certain basis and reasons!" Zhang Junfeng explained to the two of them with a chuckle, without any sign of panic.
"Based on the situation in recent years, no matter which president is in office, he is always wary of the monopoly industries and tycoons in the country! When Mr. Yongsan was in office, he wanted to increase the power of the president by suppressing large domestic companies, but the financial crisis completely shattered his plan. Although Mr. Da Zhong has given us certain development opportunities, he is also very wary of us."
"According to my guess, after Wu Xuan comes to power, he is very likely to conduct targeted investigations and suppression of large domestic companies. As for who will be the unlucky one being targeted, it's hard to say..."
…
After listening to Zhang Junfeng's analysis, Li Jianxi, who was originally optimistic, suddenly became serious. A few years ago, before Wu Xuan entered the official career, the law firm he opened had been against many large domestic companies. He also fought against Hyundai Group's former chairman Chung Ju-yung and former security planning department director Zhang Shidong at the hearing, becoming a "hearing star".
"...What will Comet Capital do next?" Li Jianxi looked at Zhang Junfeng meaningfully, looking forward to his next answer.
"Keep still and watch from the sidelines! Comet Capital is an international financial institution, and even if the Blue House makes a move, they will be cautious. However, SK Group and Yuetian Group, which have caused a lot of trouble before, are likely to be targeted by Mr. Wu Xuan!"
At this point, Zhang Junfeng showed a bright smile on his face. He and Kim Jong-min had brought up the Gangnam District private club incident that caused a lot of controversy last year in order to help the other party gain more advantages in public opinion. It was also to confuse the public and make him adjust the target of investigation and attack to SK Group and Yuetian Group.
As for whether Hyundai Group Chairman Chung Mong-sun would be the target of frequent investigations and attacks by the other party like in his previous life, Zhang Junfeng could only hope that he would take good care of himself~!
…
After leaving the Five Star Group, Zhang Junfeng quickly asked the driver to drive to the New Modern Group.
Because many domestic credit card companies had serious bad debts before, they applied for a large low-interest loan from Comet Capital and received a large number of stocks of high-quality companies. In addition to LG Group, the shares of many core subsidiaries of Hyundai Group were pledged to them. According to the current poor operating conditions of Hyundai Group, they are simply unable to repay such a large loan. At most, in another year and a half, they will be able to pocket the shares of these companies.
For such a "big event", we have to inform Chung Mong-koo, the chairman of the new Hyundai Group, and let him prepare in advance.
After all, Zheng Mengxian would not sit idly by and watch them take over the operating rights of those subsidiaries. They still need to prepare in advance.
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As the tourism project on Jeju Island is more than halfway through, many companies are gradually aware of the hidden problems of this tourism project! Because Jeju Island itself is just a beautiful scenery, and the surrounding supporting facilities are not perfect, many company representatives and senior executives gradually realized that it is obviously impossible for Jeju Island's tourism project to make a profit in just a few years.
Such a result is nothing short of adding insult to injury. You have to know that many of these companies have already experienced a severe shortage of funds after the collapse of credit card companies. If they continue to push forward like this, it is very likely that their companies will go bankrupt before the funds they have advanced are recovered.
…
Many business representatives wanted to visit Mr. Daejong of the Blue House and tell him about their difficulties. They hoped that he could give them some support and help. However, Mr. Daejong's term of office was about to end, and he was too lazy to bother with such things. He planned to leave all the troubles of these companies to his successor! Many business leaders were also very troubled by Mr. Daejong's inaction.
They originally thought that the Jeju Island tourism project was a profitable thing, but it turned out to be the current situation. If they can't come up with more funds, the construction of the Jeju Island tourism project is likely to be delayed. This is definitely extremely bad news for them.
They quickly thought of applying for loans from domestic and foreign financial institutions, but what made them even more heartbroken was that those foreign financial institutions were not very optimistic about the Jeju Island tourism project and rejected their loan application. Comet Capital in China also had the same attitude and refused to provide loans for the construction of the Jeju Island tourism project.
…
In the president's office of Yuetian Trading Company.
There is no mistake in the poem, post, content, and read the book on 6, 9, and bar!
Shin Dong Bing's face looked very ugly at the moment. Just last night, Peter Fuld from the United States scolded him severely on the phone, saying that if the Jeju Island tourism project could not make a profit normally, Shin Dong Bing would pay a heavy price for it.
"...This bastard is really snobbish! He was the one who took the initiative to propose and request more tourism project construction orders, fearing that Comet Capital would take advantage of him! Now that the situation is not as expected, he has started to shirk responsibility and pass the buck again!"
Seeing that their president was in a bad mood, the subordinates standing by did not dare to say anything, for fear that they would say something wrong and become the president's punching bag.
Perhaps because he was in a better mood after cursing, Shin Dongbing looked up at his subordinates standing by and ordered, "Contact Choi Tae-won of SK Group for me and tell him that I have something important to discuss with him!"
"Yes, President!" The subordinate nodded respectfully and then left the office.
Looking at his subordinates leaving, Xin Dongbing showed a proud smile on his face. In the past few months, he has already contacted Japan. Next, he only needs to determine the business location, and the second private club will be able to open smoothly.
At that time, he would be able to earn a lot of money through the private club and get to know big figures in the political and business circles.
However, in order to avoid repeating the same mistake and having their business taken down by some nasty guys, they still need to plan carefully when choosing a business location.
…
Longguo, Lin'an City.
In recent months, several logistics companies from Korea have come to Longguo and opened branches to operate businesses. The senior management of Alibaba is very happy.
Originally, there were only a few logistics companies in China, and most of the logistics companies that their shopping platforms cooperated with had high costs and slow delivery efficiency.
Now that there are several more logistics companies, they have more options to choose from! And according to the news from Korea, these logistics companies seem to have some connection with Comet Capital. Isn't this definitely "our own people"?
…
Alibaba Group, inside the general manager’s office.
Ma Yun happily called his subordinates and asked them to contact the senior management of these logistics companies, intending to negotiate long-term cooperation with them.
Over this period of time, the number of registered users on Alibaba's online shopping platform has increased. Many customers who have purchased items often leave comments and complain about their orders, saying that the logistics company's delivery speed is too slow and they hope that the logistics speed can be faster.
He planned to contact these logistics companies from Korea to understand the specific situation. If these logistics companies had enough locations, their logistics speed would definitely be able to improve by one or two levels. The problems with their shopping platforms would also be solved.
…
Cui Hongwen, the head of the Black Panther Logistics Company headquartered in Shanghai, saw that the company and its local outposts had been established, and immediately called his boss Jin Youdao at the Goryeo headquarters to report the situation.
Jin Youdao was also very happy about this, but remembering Zhang Junfeng's previous advice to him, Jin Youdao immediately reminded Cui Hongwen that Longguo is a vast country, and it is best for express delivery stations to be at the "province, city, and county" level, so that the delivery efficiency of the logistics company will be high. (End of this chapter)