Chapter 80

Chapter 80

This Works? (1)

Chairman Kim of U-gwang quietly looked at President Shim.

“An interesting friend. Meaning all predicted?”

“Where is there a case where bill transactions don’t intervene in acquisition mergers between companies? The important is the ratio, and the conditions.”

“That’s the problem.”

Chairman Kim tapped the phrases on the paper with fingertips.

“Taeseong’s preferential negotiation rights regarding Taeseong Chemicals reacquisition?”

Chairman Kim’s gaze flashed coldly.

“There, substituting with handing over shares according to the bill ratio? That also following the private loan market rules? Ha!”

Chairman Kim crumpled the paper with a whoosh and threw it behind his back.

“This seems excessively conditions advantageous to Taeseong. Do you see that I’ll accept such conditions?”

“I’ll ask for confirmation. Is the bill issuance place U-gwang Group holding company?”

“No, U-gwang Construction.”

President Kim of U-gwang Construction opened his mouth flaring up.

“Older brother!”

“Saying will show with results?”

President of U-gwang Construction looked like having very many things pricked.

President Shim said.

“If U-gwang sets mind and maliciously defaults the bills, Taeseong will not receive even one penny and only the company snatched whole.”

If bills default, no different from scrap paper.

The basic premise of bills is the company’s credit, because value can’t be put on the credit of a bankrupt company.

“Are you going to use U-gwang Construction as a discarding card?”

“To eat a 15 billion won company for free, the premise that U-gwang Construction has to go bankrupt first. U-gwang Construction is also U-gwang’s affiliate.”

“But U-gwang Construction set fire in the process of forcibly demolishing the Guro-dong shantytown and bought the media and covered His Excellency’s eyes and ears so bought the Blue House’s glare.”

That was the reason President of U-gwang Construction couldn’t refute and only bit his lips tightly.

“The government says will issue real estate regulation measures soon, Subway Line 2 project also went over the water, even missed the Gangnam Seoul Express Bus Terminal construction that was eyeing. The calculation that even giving up U-gwang Construction, if salvaging Taeseong Chemicals, it’s a remaining business.”

President Shim snorted.

“U-gwang Construction? Put it on the M&A market immediately and see. Will receive even 5 billion?”

President Shim bit his teeth tightly.

Then picked up the paper that Chairman Kim crumpled and threw.

“I’ll go to the bathroom a bit.”

Bang!

President Shim left the president’s office without looking back.

* * *

President Shim ran straight toward the secretary’s office where I was.

Bang!

“Young Master!”

President Shim panted and said.

“U-gwang is trying to eat Taeseong Chemicals for free! I absolutely can’t endure more! Have to call Taeseong Group’s legal team and general affairs team. Let’s calculate one by one!”

“Enough to be angry. Turning with bills without collateral is up to item transactions, even acquisition merger settling with bills is excessive greed.”

“That’s why! I absolutely can’t accept such conditions······!”

“So let’s demand to catch U-gwang Steel’s shares as collateral in this opportunity.”

President Shim dropped his mouth open.

“Would that work? U-gwang has plans to advance into shipbuilding and transportation of course even defense industry based on steel!”

“If can’t put out U-gwang Steel, have to bite and hold U-gwang Securities at least.”

“······!”

“Taeseong doesn’t have a securities company yet. Look at the reacquisition negotiation conditions. If U-gwang can’t block the bills on time, what will happen to U-gwang Securities that was caught as collateral?”

“······!”

President Shim quickly unfolded the crumpled paper.

If unable to fully pay the bills until maturity, substitute with handing over shares according to the bill ratio.

President Shim shouted without realizing.

“Surely if unable to block the bills, Taeseong Chemicals of course even U-gwang Securities come over together? Is that possible?”

“So deliberately attached more conditions.”

If abandoning bill payment and requesting Taeseong Chemicals reacquisition negotiation, follow the private loan market rules.

“President Shim also knows well how collateral is treated in the private loan market?”

“······Huh?”

“Abandoning bill payment includes the bill issuance place going bankrupt.”

“······!”

I staked life on money recovery if nothing else.

If U-gwang tries to eat for free with bills, this side also eating for free is enough.

I winked one eye.

“If doing well, doesn’t it seem Taeseong can put one foot on U-gwang Securities in this opportunity?

“My goodness! How far is the Young Master looking ahead······!”

“If burdensome facing U-gwang, I’ll attach a person to help. As promised.”

There are as many as two people who can fire support fire at times like this.

But President Shim was already filled with motivation at full power.

“No. I’ll resolve at my line. I’m not that incompetent!”

“Manage the expression. If smiling like that, U-gwang will be suspicious.”

“Ahcha! Don’t worry! I have that level of acting ability!”

President Shim smiled contentedly.

“Then I’ll return with good news! I’ll definitely receive with bills!”

Click.

President Shim ran out as if flying.

*

President Shim who returned to the president’s office shouted solemnly.

“Good. 15 billion won bills, I’ll receive.”

“Good.”

“But have to attach one more condition. Preparing for U-gwang Construction’s bankruptcy, have to catch one more collateral.”

“Collateral?”

“Yes, U-gwang Construction is insolvent so can’t believe. Need guarantee of a more high-quality affiliate.”

“Where?”

“U-gwang Steel or U-gwang Securities. Yield one of the two.”

President Shim picked up the paper that Chairman Kim crumpled and threw and unfolded it again.

“Even if the bills become a problem, can fight in the reacquisition negotiation. So this special provision is also included.”

“Shim Won-cheol.”

Like that, the sharp argument between U-gwang and Taeseong began.

The U-gwang affiliate presidents stood up in a group and tried to force somehow.

In contrast, the one protesting Taeseong’s position was only President Shim.

No matter how much shouting that Taeseong can’t yield more, U-gwang pushed recklessly.

-All with bills!

How long continued such blood-splattering verbal battles.

“Have to know that Taeseong yielded even to bills. So finish within today. If wanting to have Taeseong Chemicals with such dumps added a lot, now is the time to make a decision.”

President Shim stood up abruptly with a very tired face.

“I’ll leave the president’s office for a while. U-gwang decide by majority vote in U-gwang style.”

It was when President Shim was about to go out without looking back.

“Shim Won-cheol, won’t you enter U-gwang? I’ll let you take charge of Taeseong Chemicals.”

“No need.”

President Shim closed the door with a bang and came out.

* * *

This time too, President Shim ran to the secretary’s office.

Unlike earlier, a very tired face, but the mouth corner was hanging to the ears.

“Young Master, almost all came over! U-gwang is running wild saying will eat for free somehow.”

“You worked hard.”

“Looking at the sense, those guys seem to put out U-gwang Securities as collateral! Really fortunate.”

President Shim swept his chest.

“If trying to put out U-gwang Steel, I really want to decline. There, the accumulated deficit and equipment investment that has to enter are so large amount. Once bitten, not easy to escape.”

“It would be so.”

Tatatatatatak! Click. Tatatatatatak!

“Young Master, not the time to play with the typewriter. Please yield the seat a bit. I have to write the contract regarding Taeseong Chemicals acquisition merger now.”

President Shim grinned.

“Chairman of U-gwang Group firmed his determination, if the acquisition negotiation falls through because there’s no contract, it seems tears of blood will come out.”

Tatatatatatak! Click!

“Take this.”

“What is that?”

“The contract regarding Taeseong Chemicals acquisition merger.”

“What?”

President Shim dropped his mouth open.

“Three pages?”

President Shim burst into a hollow laugh.

“Handing over 30 billion won Taeseong Chemicals, a contract of just three pages······.”

“Even if the contract is long, only the legal team’s work increases. Prepare a proper contract when the reacquisition negotiation.”

Thinking of taking Taeseong Chemicals soon.

What use putting large effort into a contract to use briefly and discard.

Just take care of important matters and enough.

“Ha······! What am I looking at now?”

President Shim rubbed both eyes hard with the back of his hand.

“In this midst, what has to enter is all entered matching the form. Even the law clauses and spelling perfect. This on earth······ Ha!”

I pretended not to know.

Can’t say that what I wrote every day was from private loan contracts to company acquisition merger documents so this much is nothing.

There’s no way to explain?

“Already wrote in all the special provisions regarding U-gwang Securities collateral.”

President Shim was clenching both fists tightly with a solemn expression.

“Short-term bills are as much as 15 billion. If wrong, U-gwang might have chain bankruptcy because of those bills. What if the bill transaction falls through because of that?”

“U-gwang won’t think so seriously about chain bankruptcy.”

If thinking such thoughts, IMF wouldn’t have come.

Why did chaebol company chain bankruptcies occur at IMF.

Because couldn’t block bills. Recklessly expanding octopus foot businesses with others’ money.

Like current U-gwang.

“Anyway, bills are also debt and loans are also debt and private loans are also debt. People cherish their own money but regard others’ money really easily?”

So even acquiring the prime company called Taeseong Chemicals, thinking such daylight thief-like thoughts.

Conscience-less bastards!

“Even if not daring to buy shares with cash, if told to take with bills, think the risk is worth taking. And will believe that the government won’t leave large company chain bankruptcies alone.”

Actually, even the 8.3 private loan freeze measure that was a few years ago is so.

“U-gwang was on the insolvent company list a few years ago yet at the 8.3 private loan freeze measure, cleaned out private loans and bills enormously and could be reborn as a high-quality company?”

That would be the corner U-gwang believes.

“Large horse doesn’t die! The guts that if U-gwang ranked 9th in the business world falls, the Republic of Korea’s economy will shake to the roots! The expectation that the government won’t watch that idly! Short-term bills? Will think can simply process with U-gwang’s sales?”

President Shim pressed his temples hard.

“If saying the feeling of not enough with the feeling of being possessed by a ghost today and becoming a shit idiot, and now even the feeling of listening to a lecture from an economic expert, will you believe?”

Whether so or not.

Clack.

‘Guardian deity, what are the U-gwang people doing? Did the majority vote all end?’

That self-righteous Chairman Kim of U-gwang deciding by majority vote?

A matter that a passing dog would laugh.

* * *

Inside the Taeseong Chemicals office, the U-gwang affiliate presidents sat on the sofa in two rows and hardened their expressions seriously.

Chairman Kim looked back at the U-gwang affiliate presidents.

“President Seo, when doing as President Shim’s proposal, U-gwang’s gain?”

“Just the movable property that Taeseong couldn’t tidy up is hundred million unit, there if only able to cover the company acquisition funds with bills, calculating even the bank and private loan interest that can save······.”

President Seo who was flicking the abacus hard raised his head.

“At least ten billion unit gain falls.”

Chairman Kim made a satisfied smile and looked back at another affiliate president.

“President Lee, the conditions President Shim attached? How disadvantageous to U-gwang?”

“If not repaying the money within the set period······ flying Taeseong Chemicals at a cheap price will be not Taeseong but U-gwang.”

“Hmm.”

“Most of the bills that the Taeseong side presented were short-term bills.”

“Why does that become a problem? Don’t most use short-term bills?”

Bills can be said to be credit contracts between companies in one word.

In transactions between companies, because the transaction amount is usually large, cases of giving and receiving large amounts in a short time occur frequently.

So instead of paying cash every transaction, there were many cases of offsetting with short-term bills.

In the case of U-gwang and Taeseong, because they formed a close relationship in business, cases of bills coming and going were particularly more.

“Because the amount is as much as 15 billion, it’s a problem. If a problem occurs, it might become a bit dangerous.”

“Even if U-gwang’s cash flow is not good no matter what, it’s not to the extent of not being able to block this.”

Chairman Kim snorted.

“Even if a problem occurs, would the Blue House just leave that. Definitely mediation will come in.”

Chairman Kim looked at another affiliate president.

“President Jang, the possibility of fighting reacquisition negotiation with Taeseong?”

“Where is there an opportunity to eat Taeseong Chemicals with just a few bills? If reacquisition negotiation, our side has to desperately refuse.”

Chairman Kim buried his back on the sofa with hands interlocked.

“This is not a picture that Cha Tae-seong intended. Definitely Shim Won-cheol’s dictatorship. So it’s a rare opportunity.”

Looking at the affiliate presidents lined up in two rows and smiled.

“People opposing the Taeseong Chemicals acquisition conditions that Shim Won-cheol proposed, raise hands.”

If opposing, will be out of Chairman Kim’s eyes.

Everyone only watched eyes and burst hollow coughs.

“The collateral that the Taeseong side requested will be U-gwang Securities. People opposing, raise hands.”

Chairman Kim drank the remaining one sip of coffee.

The coffee bitter like soot revealed the bottom.

“Unanimous. Call Shim Won-cheol.”

It was the sound that time to stamp the seal on the contract.

* * *

‘Wow!’

Looking down outside the secretary’s office window and witnessed an unbelievable scene.

‘The underworld path countdown and orange arrows disappeared all at once!’

It was in the blink of an eye.

Disappeared simultaneously as if lights turned off?

‘This works? ······Hmm?’

A silver light radiance rippling like a thin film above my body.

Seeing such a thing for the first time.

‘What is this?’

[Oh, His Majesty seems to be additionally settling the merit of saving people in real time.]

‘Startled!’

Don’t speak sticking so close to my ear!

But what?

‘Real-time merit additional settlement?’

Originally underworld settlement was post-payment as the basic principle?