I want to be a chaebol

Chapter 60: Three-point modernity (4000 words, please follow up)
Mainland B shares have begun to rise slightly. Song Yi will pay attention to real-time earnings every day. His US$1000 million in funds has almost reached a floating profit of more than US$300 million, but it is not yet time to sell stocks.

Song Yi and Zhou Shulan went to the hospital again and met Zhou Zhengyong's brothers and several other sons of the Zhou family.Zhou Mengjiu was relatively cold towards Zhou Shulan and her son, but Zhou Mengzhun was very enthusiastic.

Zhou Mengzhun was very happy when he heard that Song Yi was going to produce a travel promotional video for the World Cup in Japan and South Korea. If Song Yi needed his assistance, he could ask him at any time.

Zhou Zhengyong's youngest son, Zhou Mengri, was rude to Song Yi, "Isn't my father confused? Why did he find a relative from China who couldn't be beaten? Could this kid have colluded with someone in the family and deliberately Would you like to share more of the family property?"

Zhou Mengjiu remained silent. Zhou Mengxian wanted to defend Song Yi, but Song Yi persuaded him with gestures.Zhou Mengzhun was about to speak, but stopped himself.

Song Yi walked up to Zhou Mengri, and his 1.8-meter height gave Zhou Mengri a strong sense of oppression.

Zhou Mengri was frightened by Song Yi's eyes, "Ah! Is this how you treat your elders? People from Bianzhou are really barbaric. Do you still want to beat me?"

Song Yi didn't even use honorifics, "You say I'm a relative you can't even touch, so what kind of elder do you think I am?"

"My mother is my aunt's only daughter. She is your cousin after all. After she arrived at the hospital, did you take the initiative to say hello to her? Do you know how to be polite? Where has the fine family tradition of the president's family gone? No wonder some people are the president’s most despised sons!” Song Yi mocked.

When Zhou Mengri heard this, he was so angry that he complained to Zhou Mengjiu, "Second brother, how can such a rude guy disturb his father's rest? Why don't you hurry up and call the security to drive him out."

Zhou Mengxian spoke at the right time, "Cousin, they are guests invited by my father. Who are you going to kick out? Do you really think of Ashan Hospital as your home?"

Zhou Mengri wanted to say something more, but Zhou Mengjiu glanced at him, and Zhou Mengri immediately did not dare to speak.Compared with his fifth brother Zhou Mengxian, he is more afraid of his unsmiling second brother Zhou Mengjiu.

Zhou Shulan criticized her son, "Xiaoyi, Mengri is your cousin, why don't you understand the most basic courtesy? Why don't you apologize to him quickly!"

Song Yi immediately went to Zhou Mengri and apologized, "I'm sorry, Uncle Mengri. Your prime minister's belly can support a boat, so he will definitely not be the same as me. He will not be like me, and he will retaliate. If Uncle Mengri hits him somewhere, he will be punished." When it comes, it won’t sound good anywhere in the outside media.”

Zhou Mengri was pampered, lacked exercise, and was exhausted by drinking and sex. He was really afraid that Song Yi would ignore his opponent, so he had no choice but to accept Song Yi's apology.

Zhou Zhengyong heard the movement in the ward and opened his eyes, "I'm almost dead, and you still have to argue in the ward. Are you going to make me mad and you're satisfied?"

Zhou Mengri saw that Zhou Zhengyong was awake. Just like a mouse seeing a cat, he immediately lowered his head and admitted his mistake, "I don't dare, father."

Zhou Zhengyong snorted, his eyes swept across Zhou Mengjiu, Zhou Mengxian, Zhou Mengzhun, and then looked at his fourth brother Zhou Shiyong and his sister Zhou Xiyong.

"Shulan is my younger sister Zhenyong's only daughter. She is suffering alone in North Korea, while you are enjoying happiness in South Korea. What qualifications do you have to treat Zhenyong's descendants so indifferently?"

"Why, you have two dollars in your pocket and you don't even recognize your relatives? You have to understand one thing. The reason why you are rich is because your surname is Zhou! Without me, Zhou Zhengyong, you are nothing! "

"Song Yi founded two multi-billion-won companies without relying on his parents. What achievements have you made at his age? I don't think anyone in the third generation of the Zhou family can compare with him. Since he He is Zhenyong's grandson, and he is also the future hope of our family. You young people should have more contact with each other." Zhou Zhengyong hated that iron cannot become steel.

Song Yi complained in his heart, Zhou Zhengyong wanted to educate his grandchildren, don't regard him as a target.In his later years, Zhou Zhengyong was full of praise for Zhou Mengxian, saying that he was the most outstanding son, which caused Zhou Mengxian to be isolated from other brothers.

Zhou Zhengyong now said in public that Song Yi was stronger than all the grandchildren of the Zhou family. Zhou Mengjiu's son Zhou Yixuan, Zhou Menggen's son Zhou Zhixuan and others looked at Song Yi with unconvinced faces.

Seeing that the third generation of the Zhou family generally disliked Song Yi, Zhou Zhengyong finally relaxed and began to announce his arrangements.

"The reason why I called you all here is because I feel that my health is not good, so I will explain the funeral arrangements in advance. Mengjiu, Mengxian, and Mengzhun all listen, and Shiyong and Xiyong can be witnesses." Zhou Zhengyong spoke. Somewhat difficult.

As Zhou Zhengyong's only living sister, Zhou Xiyong has a special status. With tears in her eyes, she said, "Brother, you are not feeling well today. Take a good rest first. We will talk about these things later. There is always time."

Zhou Zhengyong looked at Zhou Xiyong and said, "Life and death are determined by fate, and wealth is determined by heaven. I've lived to this day, and I've long since looked away. I don't explain some things clearly because I'm afraid that their brothers will have another dispute and let outsiders laugh."

Zhou Zhengyong looked at Zhou Mengjiu and said to him: "Mengjiu, I will leave the old house in Qingyun Cave to you. She is old now. You have to take good care of your mother. When I pass away, you will leave me He will be buried in the family cemetery in Gyeonggi Province, and you will be responsible for the funeral arrangements."

Zhou Mengjiu looked at his father with a respectful attitude, "Okay, father." Zhou Zhengyong and Zhou Mengxian originally tried to persuade Zhou Mengjiu to return to the Hyundai Group with Hyundai Motor, but Zhou Mengjiu was as stone-hearted and unmoved.

Zhou Zhengyong looked at Zhou Mengxian and looked past him to Zhou Mengzhun.

"Mengzhun, since you and Mengxian have reached an agreement, I respect your choice. Now I announce my official resignation as the honorary chairman of Hyundai Group, and my sixth son Zhou Mengzhun will take over as chairman of Hyundai Group. Appointed today Effective immediately." Zhou Zhengyong announced.

"In order to continue to complete the economic cooperation between North and South Korea, five companies, Hyundai Electronics, Hyundai Construction, Hyundai Merchant Marine, Hyundai Elevator and Hyundai Asan, will separate from Hyundai Group and establish a separate Asan Group, with Zheng Eunxuan as the chairman of the Asan Group and Song Yi as the chairman. Executive Director of Ashan Group."

"Mengxian will exchange the shares of Hyundai Group he holds with the shares of these five companies you hold. Mengxian will also lead his people to resign from Hyundai Group and join Asan Group."

"This will ensure that Hyundai Group and Asan Group will not have managers holding concurrent positions, guaranteeing each other's debts, or borrowing money from each other. In order to comply with the relevant regulations of the Korean Fair Trade Commission, Asan Group will become a new separately listed company." Zhou Zhengyong go on.Zhou Xiyong couldn't bear it, "Mong Heon has resigned as the chairman of Hyundai Group, why not let him serve as the chairman of Asan Group? There has never been a precedent in South Korea for a woman to serve as the leader of a large company."

Zhou Zhengyong said to Zhou Xiyong: "I know that I have become an old fool in your eyes. The Kaicheng Industrial Park and Mount Kumgang tourism plan are obviously loss-making businesses, but I will persist as always. Except for Mengxian, there is no one in the family." One person supported me.”

"Brother, I don't mean this. These three children, Meng Jiu, Meng Xian and Meng Zhun, are all excellent. No matter who inherits the Hyundai Group, I will support him." Zhou Xiyong said.

"Mongxian said that when he was the chairman of Hyundai Group, he caused Hyundai Group to fall into a huge loss. He must bear the responsibility for this. It was not convenient for him to serve as the chairman of Asan Group, so he asked Zheng Eunxuan to help him first. Anyway, it was just It’s just a name, but Mengxian is still responsible for the actual operation.” Zhou Zhengyong said.

Zhou Shiyong and Zhou Xiyong felt relieved after hearing Zhou Zhengyong's explanation.If Zheng Enxuan was only the nominal chairman of Ashan Group, the Zhou family would still be able to accept it.

Zhou Mengjiu saw that Zhou Mengzhun had taken over as the chairman of Hyundai Group, and it was obviously impossible for Hyundai Heavy Industries to break away from Hyundai Group.He had been fighting with Zhou Mengxian for several years, but the silent Zhou Mengzhun actually got a big advantage?
Zhou Yixuan asked Zhou Zhengyong a key question, "Grandpa, if my fifth uncle inherits Hyundai Construction, and the Hyundai headquarters building is also an office building of Hyundai Construction, then does this office building belong to Hyundai Group or Hyundai Construction?"

Song Yi glanced at Zhou Yixuan. This guy had indeed inherited Zhou Mengjiu's talent. Even though Zhou Zhengyong had already divided his family, he still didn't forget to sow discord between the two brothers Zhou Mengxian and Zhou Mengzhun.

The Hyundai Group headquarters building is registered under the name of Hyundai E&C. Previously, Hyundai E&C was a subsidiary of Hyundai Group, so it does not matter whether the property rights are changed or not.

Now that Hyundai E&C is separating from Hyundai Group, this building, which is nominally worth hundreds of billions of won, should be included in the newly established Asan Group. Zhou Mongzhun obviously cannot agree.

The Hyundai headquarters building is located in Gye-dong, Jongno District, Seoul City. This office building with tens of thousands of square meters is obviously one of the few high-quality real estate properties of Hyundai Group.

Zhou Mengxian remained calm, "Since Meng Zhun has taken over Hyundai Group, the headquarters building must be left to Hyundai Group."

"After Hyundai Construction is transferred to Asan Group, it will be officially renamed Asan Construction, and we will rent a new office building as the headquarters of Asan Group." Hyundai Merchant Marine, Hyundai Elevator, and Hyundai Electronics will also be renamed Asan Merchant Marine and Asan Group. Elevator, Ashan Electronics.Hyundai Asan will also officially change its name to Asan Group.

Zhou Zhengyong's sixth brother Zhou Xiangyong also raised his doubts, "It's okay if Enxuan serves as the chairman of Asan Group. Why can Song Yi serve as the executive director of Asan Group? Shouldn't young people start from the grassroots? Yi Xuan is Meng Jiu’s biological son is now just the head of Hyundai Motor’s sales department, not even the vice president of the sales department, so why can he take on important responsibilities when he just entered Asan?”

The phenomenon of seniority among Koreans is quite serious. No matter how capable young people are, they rarely directly become group executives.

Although the newly established Asan Group only has five subsidiaries under its name, the company's total assets still rank among the top 50 Korean companies.Song Yi directly became the executive director of Ashan Group, the third-in-command of the company, which would of course arouse the dissatisfaction of old people like Zhou Xiangyong.

Zhou Zhengyong revealed the answer, "I left a legacy of 1000 million US dollars to Zhenyong, which will be inherited by her descendants. Song Yi agreed to inject the 1000 million US dollars into Ashan Group to help the operation of the company."

"Song Yi's mother obviously doesn't understand company operations. Song Yi's shareholding in Ashan Group will help Mengxian better control Asan Group. Song Yi's main focus is still on the company under his own name and joining the board of directors of Ashan Group It’s nothing more than giving Meng Xian one more yes vote.” Zhou Zhengyong continued.

Zhou Zhengyong rested for a while, and then asked the Zhou family members present, "Do you have any objections to my arrangement? If there is no problem, then ask a lawyer to come over, and I will hurry up and make a will."

Zhou Zhengyong's family saw that Zhou Zhengyong had already made arrangements, and the three-point modern victory became a foregone conclusion.

Zhou Mongzhun took over Hyundai Group. Hyundai Heavy Industries is still a subsidiary of Hyundai Group. The company's assets exceed 50 trillion won, ranking first.He has also become the biggest winner among the three brothers. However, Hyundai Heavy Industries also has to bear the huge debt of Hyundai Group, which is a mixed blessing.

Zhou Mengjiu is still in charge of Hyundai Motor. The company's assets exceed 34 trillion won, ranking second.Zhou Zhengyong also officially recognized the legality of Hyundai Motor's separation from Hyundai Group, which is also crucial to Zhou Mengjiu.

Zhou Mengxian is in charge of Asan Group. The five companies together have assets of more than 5 trillion won, or about 270 billion yuan. They are the weakest. Moreover, Asan Group still needs to bear the corporate debts of Asan Electronics and Asan Construction. Zhou Mengxian's pressure is still not considered. Small.Song Yi's shareholding ratio in Ashan Group is approximately 2%.

Korean chaebols like to adopt complex cross-shareholding circular structures.For example, Asan Group holds shares in Asan Electronics and becomes the company's largest shareholder.

Asan Group then holds shares in Asan Elevator and becomes the largest shareholder of Asan Elevator. Asan Elevator is also the largest shareholder of Asan Merchant Marine. Asan Merchant Marine and Asan Electronics then hold shares in the parent company Asan Group, thus forming a closed loop.

Most of these shares are controlled by the company's executive directors and officers.In other words, the board members of Korean chaebols are all members of the chaebol family, or executives close to them. This ensures that they can firmly control the power of the company with a small amount of shares. The same is true for the Samsung family.

The Chen Jianxi family’s total shareholding in Samsung Group is 1.53%. Through cross-shareholdings in Samsung Group’s Samsung Life Insurance, Samsung Everland, Samsung Electro-Mechanics, Samsung Credit Card and other companies, they have obtained 49.7% of the voting rights of Samsung Group. Guaranteed their control over Samsung Group.

Zhou Zhengyong made a will, and the battle for the successor of Hyundai Group finally came to an end.Next, Zhou Mengxian will exchange the shares of Hyundai Group in his hands with other members of the family for the equity of five subsidiaries of Asan Group.

Song Yi reminded Zhou Mengxian, "Hyundai Electronics and Hyundai Construction are still losing money, and the company's market value is already at a historical low. Uncle Mengxian, you might as well exchange more shares of these two companies."

Zhou Mengxian knew that Song Yi attached great importance to Hyundai Construction and Hyundai Electronics. He was a little distressed. "The problem is that the share price of Hyundai Group is also very low. They prefer to ask for cash rather than stocks." People in Zhou Zhengyong's family are all unprofitable and can't afford to go early. .

Song Yi "kindly" suggested, "In this case, didn't my uncle leave me 1000 million U.S. dollars in cash? You can use these 1000 million U.S. dollars to exchange for Hyundai E&C stocks, whatever you can exchange for them. For me, it's right It doesn’t really make much difference whether Hyundai E&C holds shares in one company, or holds shares in five Asan Group companies at the same time.”

　No more today, see you tomorrow
　　
　
(End of this chapter)