Chapter 90

Competition among domestic companies. I visited DK Bioscience and met the chairman of DK Group. “Nice to meet you. This is Kim Shin.” “This is the final circle.” In the past, it was rare to meet an employee of a large company, but now, whenever I do, I am told that I am the chairman of the group. Although he did not have as much public popularity as Vice Chairman Seon Jae-yong, he was still a man with great management results. Boldly acquires Hynix for KRW 3.4 trillion when everyone stops. DK, which had been staying as a domestic company, was turned into an export company. Now, DK Hynix’s market capitalization is over 60 trillion won. ‘It’s more than the profits I’ve earned so far.’ Although there is a side that thinks Korea is easy, the power of the corporate group was strong. And Chairman Choi Jong-won requested. “DK wants to increase cooperation in the field of earth resources and cloud business as well.” “… … Yes?” “I would like to be in charge of constructing the Earth Resources Center at DK Hynix.” This is a story I feel like I’ve heard somewhere. DK was also greedy for the data center proposed by the Iseong group. ‘It’s kind of a competitive group.’ In the opposite sex, you may be offended by the word domestic competitor, but it is also true that competition has recently been formed around memory semiconductors. DK Group was looking to surpass the second place in the business world rankings and was using active investment and expansion strategies. Isung Biologics and DK Biosciences jointly grabbed the rope called Bio Life. The two groups want to take a peek at another opportunity through Earth Resources. ‘It’s a good suggestion for me.’ If you jump into the opposite sex group and DK, you can gain an advantage in negotiations. I thought quickly to this point and said with a smile. “I will actively consider it. For details, we ask the person in charge to contact us.” I went to a restaurant in a hanok hotel in Songdo with Chairman Choi Jong-won to have a meal. Is it the dignity of the chairman of a large company? I ate special food by the chef, not the regular menu. To compete in the wider world, we need to speed up our growth. If Google or Microsoft wants to have half of their cloud revenues, is that an overkill? It was an achievable goal if the growth rate of Earth's resources was maintained steadily. Above all, Earth Resources’ business is attractive. Talented employees were recruited, and new divisions could be started at any time. ‘I have to show you what a true octopus foot is.’ Octopus feet may be essential for IT companies. Microsoft, which started with an operating system, expanded its business areas to include messengers, office programs, chatting, Internet phone calls, search engines, video games, and the cloud. Even mice from MS have been on sale for a long time. Google, which has become the world’s best search engine, is now making money from video platforms and mobile phone operating systems, and investing heavily in artificial intelligence. I thought that the Korean way of discovering new markets and actively investing in talented employees, technology, and capital to dominate them might be the answer in IT. ―Kim Shin: As you said last time, you are negotiating the data center. ―Vice Chairman Seon Jae-yong: Thank you. We will find the best way from our side and come back to you. And to the other person as well. ―Shin Kim: We are going to negotiate about the data center. ―President Choi Jong-won: Yes. We will send practitioners composed of businessmen. I don’t know how many data centers Earth Resources will build. No one knows how far the cloud business will expand or how the grid network will be utilized. Even so, it was a certain fact that it would be a trillion-level project. ―Kim Shin: Before joining Bio Life, there is one thing you should do if you have time. ―Myeong-guk Ahn: Yes. Please do anything. CEO. It was a strange feeling to be respected by someone who served as the team leader for over four years. ―Kim Shin: We need to negotiate regarding the data center construction. The negotiating partners are the opposite sex group and the DK group. ―Mr. Ahn Myeong-guk: Yes? ―Kim Shin: Please review the proposals of the two companies and meet with them to negotiate. ―Kim Shin: We will proceed with a project worth at least 3 billion dollars. Team leader Ahn Myeong-guk is now my person, so I plan to use it sparingly. I plan to continue to support Bio Life, and I intend to make him the general manager related to various companies in Korea. ‘And the corona crisis is more important than anything.’ During the 5 days I was in Korea, I was conducting the 3rd vaccine clinical trial in the US. It’s on its way to success, as it still have been reported any problems. I didn’t forget Dr. Lee Ho-yeon’s warning at the hospital that coronavirus could change, and humanity could face a more dangerous infectious disease. Lee Ho-yeon said that he wanted to expand the research center even bigger and recruit more people. Projects that require at least 2 trillion won. ‘It could be a false prediction. Even so, if you get hit once, you should be prepared for the next time.’ Want to earn a lot of money, but how should I earn it? How to write A conclusion has been drawn about it. ―Kim Shin: Dr. Lee Ho-yeon. I contacted you because of what you said at the hospital the other day. -Lee Ho-yeon: Yes. I think I may have asked too much. You’ve been helping me so far. -Kim Shin: No. It’s okay. So, I will tell you my decision. ―Kim Shin: Biolife will make a net profit of more than 10 billion dollars. Under the premise of passing clinical trials and selling vaccines. ―Kim Shin: The amount that Dr. Lee Ho-yeon requested exceeded 2 trillion won. It’s big, but not unmanageable. Nevertheless, increasing the number of research personnel and equipment will increase fixed costs, which is not good for the company. ―Lee Ho-yeon: I am worried about that too. ―Kim Shin: So, we decided to reinvest all profits from Bio Life. -Lee Ho-yeon: Yes? The feeling of surprising a person who has only been working hard on medical research is something that only the super-rich can do. ―Kim Shin: I will not take the profits from Bio Life as dividends. All profits will be reinvested. ―Kim Shin: I heard about the versatility of artificial intelligence from Professor Paul. I hope that research and development will be expanded to all fields, not just infectious diseases. ―Kim Shin: People suffering from illness. I want to contribute to your dream of giving hope to those who have lost their lives. Relax and focus on your research. Bio life. I decided to make it a company for the lives of living. Even if you make a ton of money out of IT, there should be at least one company that does a good job. Mirae Group was well aware of how much effort it takes to make a company successful. The business that started in automobile repair has expanded to construction, automobiles, shipbuilding, and heavy chemicals. While building the bridge, the entire group overcame the crisis of bankruptcy by using debentures, and the construction later contributed to the national economy by earning a huge amount of foreign currency in the Middle East. At a time when he had never built a ship, he borrowed loans from the Turtle Ship on banknotes and became the world’s No. 1 shipyard. The myth that Mirae Group has. Chairman Jin Myeong-il had a good understanding of his grandfather’s achievements. “Just 20 years ago, the Mirae Group represented the Korean economy, but they ended up being second in line to the opposite sex group.” “… … .” There was a time when Mirae Group’s business reached twice that of the opposite sex group. The days of success in the middle and late industries, such as shipbuilding, steel, chemicals, and automobiles. 20 or 30 years ago, opposite-sex groups were ignored, saying they sold small things. “The Mirae Group, which has the potential to lead Korea, is falling behind the times.” “… … .” The three people in front of Jin Myeong-il. Two sons and one daughter listened to their father in silence. Mirae Group was representative of the modernization history of Korea. Jin Seok-yong, the eldest son, spoke cautiously. “Father. When the global business center in Gangnam is completed, people will see Mirae Group again.” Jin Myeong-il’s face crumpled even more. Although his father, who was the former chairman, won the bid for the land at an exorbitant price, it was questionable how high-rise buildings would create added value in this day and age. Jin Seok-yong’s words continued. “Land prices have gone up a lot in the past. It will generate more than the group’s annual profit, and the value of the company will jump as assets increase by that amount.” Jin Myeong-il glared at his first son, Jin Seok-yong. “Since when did Mirae Group become a real estate company?” “that is… … .” “You have to think about making money by doing business. To expand the company’s appearance, develop technology, make good products, and retain excellent employees. Still don’t get the idea that that’s a great manager? So you are lacking.” Crown Prince of the future group. Jin Seok-yong lowered his head to hide his trembling eyes. Although he was taking business classes diligently, he was not living up to his father’s expectations. Moreover, it hasn’t been long since my father took over as group chairman, so I don’t know when my turn will come. Jin Doo-yeol, the second, said. “Father. The electric car project is progressing successfully. Few automakers can mass-produce electric vehicles as well as ours.” In the world, electric cars released by Future Automobiles have gained great popularity. Not only in Korea, but also in Europe and the United States, the produced jokjoks were sold out after receiving favorable reviews. “It’s a natural thing to do as a car company. Other guys are just following the market. You have to think about going ahead of others. Lack. not enough.” “… … .” The second also received a scolding at once and lowered his head. The third, who was not present, had no regrets about management or succession, and stayed in Europe to paint. The fourth, lacking in ability but greedy, was after he was kicked out to do business in the Middle East. Jin Myeong-il’s gaze turned to his daughter, Jin Yu-kyung. He had never been as angry as his daughter. The word favoritism came out, but to the extent that everyone took it for granted. “Yugyeong-ah.” “Yes. father.” “How are you with Kim Shin?” Jin Yu-gyeong tilted her head. Is this a topic that suddenly comes up after talking seriously about the management of Mirae Group? “why… … yo. this?” “Have a good time with him.” “Yes? You’ve always been against my relationship.” “Because they were all the guys I didn’t like.” Whenever Jin Yu-gyeong was with a guy she liked, she had various kinds of interruptions. However, I think they will allow it this time, but there was a clear reason. A bio company with a market capitalization of over 8 trillion. For a manager, the company is himself, but just looking at Isung Biologics made me sick to my stomach. If Mirae Group also had a bio business, it would have been able to reap the fruits. “But he might have a woman.” “Yes? How does Dad know?” “I know as a man. At that age, with money and good looks, there’s no way there aren’t women.” “… … .” “Anyway, be brave. Treasure always has competitors.”