With the Time Shop, I Too Am the Greatest Conglomerate of All Time

Episode 70. Transaction with Jin Seon-ho.(1)

While heading to the table with Vice Chairman Jin, I stab Tae-woo in the side.

“hey. He said he wouldn’t mind a gift from your father.”

Taewoo put his hands together as if he was sorry.

“I knew I would. My father only asks for gifts when he has a crush on him. Maybe you liked it.”

“I? no way..”

At that moment, we heard Vice Chairman Jin calling us.

“What are you doing there? Come on and sit down.”

It was dinner at a chaebol house, so I thought there would be foreign food on the table that I had never even heard of.

Surprisingly, the menu was mediocre.

In the middle of a long table where 10 people could sit, there was a bubbling crab soup.

There were about a dozen side dishes that were not flashy, but felt sincere.

‘Even if you’re a chaebol, you’re Korean. What’s the point?’

Once we were seated, the meal began.

“Oh, can’t you see your mother-in-law?”

“My mother is out of France for business now.”

“ah. I see.”

After dinner with a brief conversation.

I moved to the living room, and Vice Chairman Jin opened his mouth.

“How do you know Lee Yeon-ho, chairman of the Fair Trade Commission?”

“You found out too. I met Chairman Lee by chance about two years ago. Chairman’s mother has some dementia. But he likes me quite a bit, so I hear him often, so I’m a little acquainted with Chairman Lee.”

Vice Chairman Jin thought for a moment, then opened his mouth.

“..two years ago. At that time, it was long before Lee Yeon-ho became the chairman of the Fair Trade Commission.”

“It’s not something to hide in particular, so why did you say it’s a secret?”

“If I had told the truth, would you have believed it?”

“..probably not.”

“I thought you wouldn’t believe it anyway, so I thought there was no need to waste precious time arguing. I expected you to find out.”

Vice Chairman Jin nodded and held out a briefcase.

“The evidence of collusion is here. It wasn’t easy to get, so I’m sure he’ll take care of it.”

“By the way, there is another reason I called you today.”

Now comes the gist.

“I found out, but you are the developer who developed the drill CPU. A company called Sungwoon Logic is in charge of manufacturing and sales of the four CPUs, but since it is a design company, we also know that actual production is entrusted to another foundry company. Can’t we leave that foundry volume to our Kowon Electronics?”

Well. I didn’t know it was going to be something like this.

Stay still.

This might be a good opportunity to pull back a plan that’s been put off for a while.

“I’m not saying that because I don’t want to. Isn’t Kowon Electronics’ main focus on memory semiconductors? I know that the foundry business of system semiconductors does not have a great track record. Can you match your process capabilities to the level of other famous foundries?”

Kowon Electronics recently merged with Algi Semiconductor and has the largest semiconductor division after Hwansung Electronics’ semiconductor division in Korea.

Like Hwansung Electronics, the main focus was memory semiconductors.

Since the structure of the system semiconductor is much more complicated than that of the normal memory semiconductor, the actual production difficulty was much higher for the system semiconductor.

In order to produce system semiconductors with difficult structures on consignment, the process capability must be good.

In my opinion, Kowon Electronics has not yet reached the level of other famous foundry companies.

Vice Chairman Jin laughed bitterly.

“Honestly, compared to companies like ASMC in Taiwan, there are still many shortcomings. But don’t promise us that if you entrust the production to us, we will unconditionally extract the quantity 10% cheaper than the amount that Sungwoon Logic costs for the foundry commission.”

Hmm. it’s good for me

From the standpoint of Go Won Electronics, there would definitely be a loss.

“It must not be easy to match at the same cost, but 10% cheaper?”

“We are currently focusing on memory semiconductors, but starting this year, we plan to invest about 200 billion won to develop the foundry business properly. If you have a track record of making famous CPUs like Drill, it’s good to receive requests, so you can think of it as a kind of bleeding service. It’s not going to be a bad offer for you anyway.”

It is not.

It is a condition that can be accepted as it is, though.

“sorry. From my point of view, if a quantity is moved to an unverified company to save 10% of the foundry cost, and even a quality issue occurs, it is more damaging.”

Vice Chairman Jin’s face hardened as if he did not know that I would refuse.

“Um…that’s what you think?”

“yes. Even the vice president, you know that once a foundry company is decided, customers don’t often change their business partners, right? That’s why you’re asking me like this.”

“Only if you listen to my condition, I will hand over the amount of drilled CPUs.”

Chairman Jin’s face brightened.

“okay? what are the conditions? Tell me.”

“Do you have any plans to sell Kowon Electronics’ LCD business?”

Kowon Electronics LCD Division.

It was a business unit suffering from chronic losses due to relatively outdated equipment and nothing special compared to its competitors.

It’s like Go Won Electronics’ troubled complex, and even inside the company wants to sell it.

The management of Kowon Electronics became difficult in the future because it could not find a suitable buyer, and only after the ownership was transferred to the creditors, it was separated into a company with the mission of ‘Godis’.

After that, it was repeated to various companies, and eventually passed to a Chinese LCD panel company called EOE.

Only the technology is stolen and discarded again.

I knew that China’s EOE would grow into the world’s largest LCD panel company based on Godith’s technology.

I wanted to change that history.

“I know that it has been running deficits for several years, but I don’t think I would want to hold it as it is.”

“..Right. But what does that have to do with your terms?”

“The LCD division, I will buy it.”

Vice Chairman Jin asked with a look of great surprise.

“What? Are you going to buy the LCD division?”

“yes. Instead, I would like you to adjust the price a bit. You don’t want to sell a business that is always in the red, do you?”

Vice Chairman Jin shrugged his chin and fell into thought.

Has it been 1 minute?

“So, you’re saying you’re going to get the LCD business and hand over the drill CPU supply to us instead?”

“yes. However, if the price of the LCD division is too high, this proposal will not be made.”

“Let me ask you one thing.”

“So far, we have invested close to 1 trillion won in the LCD business. No matter how cheaply you sell it, it can never be less than 350 billion won. But even if we were to sell it at that price, would you be able to save 350 billion won?”

It’s not a lie that Goddess passed over 400 billion won to China’s EOE.

At that price, I could afford it.

About 400 billion won was accumulated in the bank account for the drill CPU alone.

The amount to come in the future was more than that.

“of course. You can get that much, so I hope you can match it with that price if possible.”

Vice-President Jin laughed at my words.

“haha. I saw him as a tiger cub, but he was already a mature tiger.”

“I mean, until now, I have been thinking about you wrong. Perhaps the money for the acquisition of the LCD business comes from the company called TM Mirae?”

Did you know that far?

You did a lot of research.

“It’s probably an offshore company that gets paid for drill CPUs, so it means that drills are profitable that much.”

Well, you notice right away that someone is not the chairman of the chaebol.

“I will not deny it.”

At my words, Vice Chairman Jin straightened his posture.

“Originally, I was going to bring you into the Strategic Planning Headquarters instead of Taewoo, but it seems it’s already too late. If the situation changes, the plan must also change. From now on, I will treat you as a business partner.”

The vice president of Gowon Group in Cheonha recognized me as a partner?

“haha. thank you Vice-President.”

“There is nothing to be so grateful for. From now on, there will be no room between us for anything but business interests. Even my favors for you.”

favor me

I must have really liked this gentleman.

“I like that one too. He’s not so easygoing that he even thinks of trying to grow my own business, relying on the vice president’s favor.”

At that, Vice Chairman Jin laughed out loud.

“Shh. I like one answer. How can you be so different from the guy next to you?”

“father! I’m in front of a friend, so I’ll have to say something.”

I put my hand on Taewoon’s shoulder.

“haha. Instead, this guy studies better than me. There are a few guys in my department who are better than me, but one of them is Taewoo. He will be a great professor.”

Vice Chairman Jin looked at Tae-woo with a new look.

“You should call me Jae-Woon, or Isa Kang from now on. Did you get better grades than Isa Kang?”

“..yes. Well, Jaewoon runs a business and does a lot of this and that, but I only do one of these. Then you have to do it well.”

Vice-Chairman Jin laughed again as if he liked those words.

“Shh. okay. you are a man too No matter how much friends you can beat, you have to win. Whether it’s study or business.”

After that, the atmosphere moved smoothly.

I thought the day would end like this.

Vice Chairman Jin got up from his seat and strode forward, and opened the door to the showcase in the living room.

And at that moment, Taewoo flinched.

Inside the door, various kinds of Western liquor were displayed under the soft lighting.

Suddenly, Vice Chairman Jin tilted his head.

“uh? Why is there no Royal Salute 52 years old?”

No wonder, the alcohol we drank with Taewoo at that time.

Did you take it from there?

Let your thoughts go there.

Taewoo asked in a low voice.

“hey. then that drink. Are you from there?”

Tae-woo nodded his head slightly.

Shit!

“This child. Why are you bringing that drink to my house?”

“sorry. I didn’t know my father would be looking for alcohol at this time.”

When Vice Chairman Jin checked each bottle, I started to flinch too.

Vice-Chairman Jin, who had been looking for the drink the two of us had eaten, just picked up another drink and returned to his seat.

“haha. I guess I’m old too. There was a drink I thought I had saved up, but I think I already ate it.”

“Iknow, right. Now that you’re older, drink in moderation.”

The burning of this moment is really true.

He was acting like he was crazy.

It was the same with me.

“I also want to remain as a long-term partner with the Vice President. So, drink in moderation.”

Fortunately, Vice Chairman Jin continued the conversation with a smile as if he had not noticed.

“These guys. I’m not old enough to hear that. Auntie, just bring me three glasses.”

Let the aunt bring you a glass.

The glass was almost completely filled with yellow liquid.

Vice Chairman Jin lifted the glass into the air.

“I’m happy to see my son and Isa Kang’s new look today. Let’s have a drink.”

“Cheers!”

As soon as it touched his neck, the drink went smoothly.

‘This drink is also delicious. But it’s still not as good as the alcohol I had with Taewoo back then.’

After having a drink or two, I quickly got drunk.

Vice-Chairman Jin got up with a normal face and went to get another bottle.

After emptying three bottles of spirits, which I didn’t know how much it cost, I was barely able to leave Taewoo’s house.

1 week later.

Vice Chairman Jin Seon-ho was contacted.

He said in a voice that even felt determined.

“Isa Kang.”

“yes. Vice-President.”

“LCD Division, it was decided to sell to Director Kang at a meeting a while ago!”