Chapter 146
Evaluate the sense of fellowship
subscription economy.
The method of receiving goods or services while paying a certain fee was creating a trend.
Of course, companies never do anything to lose themselves.
‘I provide it for a small amount of money every month, but when the expenses pile up, the salary doesn’t come together properly.’
Since I was not a gold spoon from the beginning, I felt the importance of a salary more than anyone else.
If you just go to work and receive a monthly salary of 2 million won or 3 million won, the world looks easy.
I think I can buy anything if I have the product I want, and I think my life will get better.
It was a huge misunderstanding that came from looking at society in an easy manner.
‘Because there are expenses incurred while going to the company, taxes, pensions, etc… well, even if you exclude everything, the standard of living gradually rises.’
In the past, if you wanted to buy fruit but didn’t eat it because it was expensive, you would trust the salary you receive while going to work.
Buying expensive clothes, scraping credit card installments, and opening a negative account.
If your spending increases like that, your salary will quickly disappear like cyber money used in GoStop.
‘Kim Sang-ki said he was happy for just two days on payday.’
There will be desirable aspects of the subscription economy, of course.
If you don’t have money, but there are items you need, you’ll have to do it if you want to use some other service.
However, with a significant number of subscription economies, fixed expenses gradually increase, as if clothes were getting wet in drizzling rain.
If you share small amounts, you won’t even be conscious of your expenses.
From the company’s point of view, there will be continuous sales, and it will be a better profit than just selling.
Isn’t it the same as taking off the monthly rent to change to a subscription even if you buy it once?
– gi: The market capitalization of Hangeul is around 550 billion. Considering the management premium, I approached thinking that I would have to spend 360 billion when I assumed that I would acquire half of the stock.
– Kim Sang- ki: Last year’s operating profit was 68.2 billion, which is not bad.
– Kim Sang- gi: But it’s not a growing company. Does Earth Resources need to acquire this company?
– Shin Kim: Hmm. It’s not at the stage where I can explain the specific reason. If your requirements are high, it’s a bit difficult.
The reason why I liked Kim Sang-ki while attending Arcor was his motivation, but he tended to do the job well without any problems.
Haerah Hangul is a word processor that is widely used in Korea, but on the international stage, it has little recognition compared to MS Word.
Of course, the MS Office series and Adobe’s Photoshop are all available.
In the yard that has changed to poison, it’s not just about swearing at Hangeul.
There was a lingering feeling that the software industry was trying to fool its customers.
– Shin Kim: Wait for now.
– gi: ㅇㅋ Okay.
I had a cup of coffee and thought about it.
‘Is it necessary to spend a lot of money on a word processor?’
It seemed like it would take more than $500 million to buy half the stock.
The word processor technology itself was mostly completed 30 or 40 years ago, and only convenience or minor functions have been improved.
“I have a lot of money, but it’s a waste to spend money that I don’t have to spend.”
It seemed there was a trick somewhere.
Rеаd at ոоbӏеmtӏ.соm
Vice Chairman Seon Jae-yong was driving the work of the Lee Sung Group for a business trip to the United States.
I met and held meetings with the presidents of affiliates, and received various work reports from the secretary’s office.
From materials and clothing to amusement parks, insurance, stocks, programming, advertising, clothing, credit cards, shipbuilding, construction, electronic parts, security, pharmaceuticals, hotels, electronics and semiconductors.
The opposite sex group had expanded throughout the industry.
“How’s Sweden doing?”
“Yes. We are proceeding by taking over the site of the old industrial complex.
is. In the Eulhae, two places will be completed.”
“It’s a year ahead of schedule.”
“Thanks to the execution of funds first, we can focus on construction.”
Data center ordered by Earth Resources.
As rumors spread that Vice Chairman Seon Jae-yong would take care of it himself, progress within the group was very fast.
As the construction progressed, computer systems, communication equipment, and storage were made in Korea and sent to Sweden.
“Is the efficiency of the data center being built in Sweden good?”
“We plan to reduce electricity and water consumption by more than 90% by using the cold air and sea breeze of Northern Europe. We believe that 100% self-sufficiency will be possible by next year when the internal structure of the building is also improved and related technologies and experiences are accumulated. .”
The cost of creating one large data center was over $700 million.
Earth Resources has placed orders for the construction of more than 30 data centers this year alone.
The Lee Sung Group did the construction directly and procured most of the necessary parts, so the profits were very large.
“I’ll say it again, make sure nothing goes wrong. It’s a business I’ve been taking on myself, so there’s no shame.”
“Yes. Vice President.”
While Seon Jae-yong was working for a long time, the secretary’s office announced the appointment time.
“In 30 minutes, it’s time to meet with the president of the future car.” “Has it already been that time?”
In the father’s generation, a group in which Lee Sung and Mirae fiercely competed for first and second place in Korea.
After the IMF, Lee Seong-electronics grew into an overwhelming company, and Mirae Group ceased direct competition as affiliates were separated.
“President Jin. Welcome.”
“Haha. Long time no see.”
A Japanese restaurant in Gangnam.
The heads of the two groups met and talked for a long time about the Korean economy and industry in general.
Chairman Jin Myeong-il emptied his soju glass and said.
“The growth of the opposite sex group last year and Eulhae is amazing.
“I believe that future cars are the core companies that will lead the mobility society in the future.”
While giving or receiving compliments.
“You say you have a strong business relationship with Shin Shin? It’s amazing that he chooses to cooperate rather than compete, even though he is the leader of a heterosexual group. It’s amazing.”
Jin Myeong-il was truly impressed with Vice Chairman Seon Jae-yong’s choice.
Even last summer, the news spread that Kim Shin had made a lot of money. At that time, what was the reaction of the 3rd and 4th generation of young conglomerates?
“If I’m given a chance… I can do better.”
“Kim Shin took advantage of the corona virus. He made a vaccine and bet on a stock market crash. His luck was amazing.”
There were many 3rd and 4th generation conglomerates who either ignored Kim Shin or were filled with vain dreams and hopes.
Seon Jae-yong did not show his pride as the richest man in Korea and joined hands with Kim Shin.
Although that fact became known, the 3rd and 4th generation chaebols’ reckless behavior subsided.
Seon Jae-yong smiled.
“Because CEO Kim Shin is a competent person. Wouldn’t it be natural to cooperate with someone who can raise a group of the opposite sex?”
“That kind of judgment is great.”
Jin Myeong-il did not come to see Seon Jae-yong because he had time left.
Seon Jae-yong was well aware of this fact, but it was difficult to anticipate the specific business.
‘The Future Automobile Group will not enter the vaccine or electronics business.’
Future Cha and Yisung Group are part of the current business
this was too little
Jin Myeong-il slowly got to the point.
“You’ve met CEO Kim Shin a few times, so please evaluate him in detail. My daughter… likes him.”
“yes?”
Seon Jae-yong was most embarrassed last year and this year.
Even when the corona broke out in Korea, I wasn’t so surprised.
‘If it’s a daughter… Is it Jin Yoo-kyung? Jin Yoo-gyeong likes CEO Kim Shin?’
It was Jin Myung-il, chairman of Mirae Cha, famous for his daughter fool.
There were rumors in the business world that Jin Yoo-kyung was pretty and competent.
Since Kim Shin was young, there was no possibility that he would continue.
‘If the two really get married, how should the opposite sex group react?’
While his head was spinning, Seon Jae-yong talked about the Kim Shin he always thought of.
“He’s a scary person.”
“Are you scared? The head of a heterosexual group says that you are scared.
will give what does that mean?”
Seon Jae-yong was silent for a moment.
As the leader of the group, it was rare for me to share my honest feelings with others. However, if you say something you don’t like to the chairman of the future automobile group, it will soon show up.
Even considering the relationship between the two groups from the ancestors, it was not difficult to tell them what they thought.
“Ordinary people are eaten up by money when they have a lot of money.”
“right.”
In a capitalist society, chaebols were well aware of the magical power of money.
Students find their studies boring, and office workers feel that their company life is nothing.
It was common to find a stimulating pleasure that could not be obtained normally, and to indulge in luxury, alcohol, gambling, the opposite sex, and drugs.
Because I made money easily, I did not try to do hard and difficult things, and it was easy for my life to collapse.
“CEO Kim Shin didn’t get caught up in the money, and invested with seed money.”
Jin Myeong-il smiled heartily as he recalled the praise his daughter had given him.
“He has great acumen as an investor. I think that’s great.”
“We have been accumulating knowledge and experience as group successors for more than 30 years. CEO Kim Shin has been absorbing more than just the knowledge and experience we gained in a year or two after starting business in the United States. There is a research lab, and Earth Resources reports that even great talents are constantly gathering there.”
“Great talents?”
“Due to CEO Kim Shin’s reputation, Earth Resources is said to be a hot company in the United States.”
For Korean chaebols, the American market was a love-hate affair.
Future Car first exported cars to the US market in the 1980s.
It sold 160,000 units in the first year and 260,000 units the following year, selling 260,000 units the following year, promoting its low price as an advantage, but it has received all sorts of ridicule since then.
[ Disposable tea ]
[The car that runs out of everything that is attached]
[ cheap ]
The quality competitiveness of future cars was lower than that of American and Japanese automakers, and it was the result of only selling vehicles without having a maintenance network.
In the US, the future car has maintained its cheap image for over 20 years.
We had to put forward a 10-year, 100,000-mile warranty and strive to improve quality and image until we built a factory in Alabama.
Of course, the controversy over reverse discrimination against the Korean market continued.
“It’s having success in America.”
“You’ve got to see that it’s having success all over the world.”
Jin Myeong-il smiled happily as if he was thinking of a popular son-in-law, but soon asked with a straight face.
“But what does the word scary mean?”
I did not forget the first words Seon Jae-yong said about Kim Shin.
“Do you know the term Quantum Jump?”
“I’ve heard of it, but I don’t know the details.”
“It’s a physics term. I learned about it while running an electronics company. It means not developing little by little, but jumping up step by step.”
In Seon Jae-yong’s eyes, Kim Shin was repeating quantum jumps that made no sense.
The success so far has been amazing. But what will happen if this success is achieved a few more times?
Just as Google and Apple have taken the lead in the global market, they will run away.
Jin Myeong-il immediately realized the meaning.
“It’s scary.”
“Yes. I’m not very greedy about anything. I do what I want to do, and the market is being created.”
I opened Yoplait at the Earth Resources office.
People’s tastes don’t change easily, so what we ate deliciously when we were young remains delicious even when we’re in our 30s.
“Southern.”
I opened the Yoplait and naturally licked the lid, but my ears itched.
“Who is swearing at me?”