The Youngest Son of Sunyang

Research on the competitiveness of the seasons limit and long-term management prospects

1. Extremely vulnerable to financial structure.

2. Excessive financial costs due to excessive external borrowings.

3. Definitely a large deficit.

4. A reckless investment that can have a significant impact on the national economy

5. Cooperation of Pohang Season is inevitable for the survival and development of the limit season.

6. Conclusion.

As well as the group's overall vulnerable financial structure and group-wide revenues, it is considered unrealistic given the size of the real estate and current market situation, and borrowing from financial institutions is also thought to be difficult without policy consideration.

When I organized a thick report, it looked like this.

Thirteen affiliates and 18 subordinates in the 95th anniversary only had substantial group sales of 400 billion.

The Limit Group, especially the Limit Season, was a sand castle that was literally accumulated in debt. This sand castle collapses in a month.

This report from the cruise group means that the bankruptcy of the limit season is already forecast in the financial sector.

But no one knows that seasons are just the beginning.

Why did Chairman Jin give me this report?

Is it thinking after the bankruptcy of the seasons? Or are they trying to acquire the bankrupt seasons?

Definitely the latter. If you think about cruising heavy industries, cruising machines and cruising cars, you're greedy enough. However, if you buy at a cheap price.

Given the company's internal reserves, it shouldn't be too difficult to acquire a bankrupt company.

Moreover, the ability to lobby in the crucible wouldn't be a big deal if you put trillion won of debt in the conditions of the acquisition. Ten key stakeholders, a billion each, 10 billion dollars, trillions of dollars' worth of blood polluted by the people's blood, once or twice?

What concerns me is a billion dollars' worth of external debt in the United States. Currently, there is no significant interest payment or principal repayment, but it will not be payable in a year.

Limit season is a poisonous frog.

The poison will spread gradually as soon as you swallow it, and if you don't get the antidote, you'll end up dead. The antidote is a dollar, a big dollar.

The antidote is in my hands, so I can save whoever swallows it. The question to decide was who would swallow it, and how much it would cost to treat it.

It's an easy decision. I want to charge a few of the Crucible Brothers for treatment, so I don't want to stop him if he wants to swallow a poisonous frog.

* * *

“800,000 M/T annually in production, the chairman and his family owns and controls 34.65% of the shares; since 1989, the loss of the construction sector has resulted in more than 300% debt and more than 50% reliance on borrowings. They found it irreversible. ”

“Did you start collecting bonds? ”

“Yes. I should have started a year ago… The bond team was stuck on how much bribery they had paid. ”

The topic of the meeting, which began Friday at 7: 00 a.m., was the end of the season.

“How much is the total debt? ”

“367 trillion, except for one billion U.S. dollars. ”

Jin looked at his theology and said,

“This Director. No matter how much I think about it, it doesn't make sense. How can you spend so much money raising a steel mill? ”

“A hundred and sixty billion, if you look at New Core in the United States. Of course, even if the introduction of low-cost land, low-cost equipment from the recession of the steel economy, and low-cost equipment from self-engineering rather than turnkey bases, and the environment differs from ours, at least a trillion won leaked out somewhere. ”

It's about inflating the cost and taking the money for insider trading, which is a major feature of the Treasury Group, but the Limit Group was too hammered.

More than half of the group's revenue is insider trading!

This is not a convenience, but an ignorant intensity.

As soon as he frowned on his own face, Jin continued to ask.

“How far can you go to get out of debt? ”

“Once you get the financial institution to buy, you can get the asset management firm to take out about two trillion. We buy bonds at half the price of the Asset Management Corporation, and that's going to be 800 billion. ”

“It's not gonna cost you a dollar, is it? ”

“Yes, you can pay back the bill. The government will vouch for you. ”

“YS... Will it work? ”

“The seasonal limit is the leader of the limit group. The limit group will dissolve in the air anyway, and that wavelength has to be minimized. I'll approve.”

Chairman Jin's head begins the calculation.

One billion is 800 billion, and the total is 160 trillion. I had no intention of paying 160 trillion in blood and taking it over.

We can use the net amount of funds temporarily at the time of acquisition, but we need to recover it immediately.

“What do we need to take with us when the group breaks? Something worth a fortune. ”

“80,000 pyeong, with the exception of a logistics base on 100,000 pyeong of the Busan steel mill site in the seasonal limit. If you don't let them touch you, if you put your apartment on the property and distribute it, you get what you want. ”

“Again?"

“40,000 pyeong of Jangji-dong Land, 10,000 pyeong of Open Po-dong Land. But this land doesn't belong to the seasons, it belongs to the construction of the limits. ”

The heads of the key members of the group who attended the study meeting went back diligently.

It is because I have read all of the president's intentions to push the limits.

“Chairman."

Joe Cho, who had never said a word before, opened his mouth for the first time.

“The information is that Hyundai Group is also aiming for it. ”

The library is surrounded by silence, even the sound of Jin breathing.

Jin, the redheaded chairman, gripped his teeth.

“When did you know? ”

“I got a call this morning. The vendor of the Hyundai car tipped him off. He's been talking nonsense about entertaining at the room salon. ”

“Oh my, sixth seal……. ”

Hyundai Group is not already a competitor. For Chairman Jin, who thinks he already owns the Iron Boundary, it's just a mirage trying to rob his company.

“Find out what the Hyundai are doing first. The acquisition strategy is then rewritten. ”

The meeting is over. We have to do everything we can to stop the hordes. As everyone gets up and takes the Juju Island documents, the Vice President smiles and opens his mouth.

“Did you see the interview article? ”

The vice chairman said, the affiliate presidents did not forget to say hello.

“Congratulations, Chairman. It was amazing.”

“I didn't know the Toju army was a national guard. Congratulations."

The firm face of Chairman Jin gives you a nod.

“Yeah. I didn't think he'd make it that far. Isn't that great?"

“But, Father, Do you really apply to Seoul National University Law School? ”

“Why? You think I'm going to fall? ”

“Could that be sexual? I thought he would study business and economics, because he loved it. ”

“He's the one who inherited the radiant blood. How do I stop him from doing what he wants? ”

“Can I meet Shiny and persuade him? ”

“Leave it alone. It's not a bad idea to get one of the Attorney General out of the house. ”

With constant scrutiny, Chairman Jin shakes his hand as if it were nothing big.

As a result, the vigilance of foreign circles will be lessened.

“Where is Young-jun now? ”

“I've been working in London since last year. I'm sure you're working on your financials. ”

“Tell them to come in. ”

“Clean up London? ”

The Vice President of the camp shook his heart because he thought his son's exile was over.

“Yes. Get them involved before the season's acquisition. And get married. Let's cool off next spring. ”

“Yes, I will be prepared. ”

Foreign sources will now be careless.

* * *

“Was homework too difficult? ”

“…… Yes. ”

As he replied like a grass, Grandpa expressed even more curiosity.

“Do you know what homework is? ”

“If the seasonal limit fails, the circular group will take over, right? ”

Grandfather's smile clouded my curiosity.

“Why did you think the company was going down? ”

“The content of the report was very negative about the season limits. ”

“Why do you think the cycle acquired? ”

“If you weren't interested in acquisitions, we would have covered more details about the impact of steel industry change on circular groups after bankruptcy. When it comes to the house next door, it doesn't matter whether we move it to our house, why it's on fire, or if there's anything expensive in the house. ”

“That's right. That's right. ”

Chairman Jyn slapped his knee.

“But I can't find the answer. ”

“What were you trying to figure out? ”

“How to kneel to the Hyundai Group. If I could just find it, I would have gotten one of those sports car keys today. ”

I scratched his head as if it were a shame, and I took a look at his eyes. What's wrong with your face? Too far ahead? My surprised grandfather's insides were completely revealed.

“Dae-hyun, why did you think you were jumping before the acquisition? ”

“Pohang Season, Cruise, Daehyun, Ajin, Sammy, Dongguk if you are touching a lump of iron. Three of them are big enough to acquire the limit, but Pohang Season has no reason to care about the limit, and it's just us and Daehyun. “

“Big guys don't just come at us. The reason is clear.... ”

“Oh, my grandfather was interested, but I wonder if he would still call me President Hyun.... ”

The answer should be to push in specific data and say that Hyundai wants to push the limits, but now the sensual answer is perfect.

“I don't think I'm going to let this opportunity pass me by because I've given you the top spot in Heavy Industries, which is way ahead of the ocean. ”

“No one manages to spend astronomical money to acquire a company because of their pride. ”

“Wouldn't you rather knock because of your pride? ”

Grandfather finally burst into laughter.

“Uh-huh. That's right. He's a man who would risk his life for his pride. ”

I waited until the pleasant smile stopped and asked for some time.

“But isn't it going to cost a lot of money to acquire this company? I heard there are trillions of won in debt...? ”

Grandpa came to me as if he was waiting for my question.

“Joon, try 'someone else's money‘ in English. ”

“Someone else's money? Other People's Money?"

"Yes, that's what business is. Managing with someone else's money, not mine. However, my country's financials are a little different. “

“How?”

“People, using the people's money as the English word means. ”

You mean the people's money, the taxes?

“When acquiring a non-performing company, the bond group demands a debt reduction, and the money raised as such is paid in taxes. This is the surest way to raise the group's size. And it always works. ”

I think it's a trillion won in public funding. There is no remorse for what is said. I don't think it's an unclean way at first.

I knew the nature of the reign, but it gave me goose bumps hearing it directly from my grandfather's mouth.

My frozen grandfather tapping my shoulder was the face of a victor.

“Oh, Joon. Let's just say you meant what you said in the interview for a while. Okay?"

* * *

Last day of the year, '96.

Grandfather and all his family gathered at the Cruise Hotel.

It was a place to celebrate me who finished the year with good results and to welcome Jin Joon back from his long foreign life.

“Hey, my youngest. You were in an accident. Congratulations. ”

“Oh, Young-jun. Thank you, and congratulations to me. You're back.”

My hand, which he held his hand, trembled thinly.

“Future Attorney General, I'll leave my inheritance to you later. Take care of it. Huhu. ”

When he whispered in my ear, my whole body trembled.