Investor That Can See The Future

Chapter 414

[(Breaking News) Seoseong Group Chairman Im Jin-yong Arrested!][Surprised by the shock of Seoseong Group!][Unprecedented CEO arrest. What is Seoseong Group’s response plan?][Voice of concern within the business world][OTK Company, does not reveal a separate position]

As a result of the warrant review, Chairman Im Jin-yong was imprisoned in the Seoul Detention Center.

Taek-gyu asked.

“Isn’t your Excellency there too?”

“right.”

Seoul Detention Center is famous as a gathering place for tiger hair. It is not an exaggeration to say that most people with money and famous people are imprisoned here.

For reference, the detention center and the prison are basically the same place, but unconvicted prisoners whose crimes have not yet been confirmed in the detention center and convicted prisoners whose trials have been completed are accommodated in the prison.

For ordinary people, it’s something you don’t need to know in your lifetime. I wouldn’t have known if I hadn’t been investigated several times by the prosecution.

When the arrest of Chairman Im Jin-yong was decided, some people were happy, saying, “Justice has finally been realized,” while others criticized it as “killing the current government’s chaebol.”

Prosecutors dismissed the controversy, saying, “Being a chaebol did not impose harsh standards, nor did it give preference to being a chaebol.”

As the Korean economy is now more dependent on the Seoseong Group than ever, the arrest of Chairman Im Jin-yong was a difficult task for the current government as well.

That doesn’t mean that I can’t ask you to release me when the suspicion of a crime is clearly exposed.

Conservatives were concerned about the immediate impact on the economy. And to some extent, this turned out to be a reality.

In the meantime, several chaebol presidents have been arrested, but they have not had a significant impact on the stock price. But this time it was a little different.

The market accepted this as a bad news as Chairman Im Jin-yong had been leading the Seosung Group well and was about to make a large-scale investment.

Since the opening, the stock price of Seosung Electronics has fallen 3.3 percent, while those of Seosung C&T have fallen 8.5 percent and other group stocks have also fallen by 5 to 10 percent.

On the other hand, President Lim Su-mi is expected to play an important role within the group going forward, and the Ceylon Hotel rose 13 percent.

It is natural for him to be arrested because he committed a crime, but the timing was not very good.

In the development of Saemangeum, Seoseong Group makes the second largest investment after OTK Company.

An investment plan does not end with just announcing the plan. In the process of doing so, important decisions must be made that will have a major impact on the company.

Until then, speaking to Chairman Im Jin-yong, he would have to discuss the tasks that were easily handled with the presidents of affiliates one by one.

The lower the rank, the weaker the authority. The president can immediately say yes or no, but the president has to think hard about the answer.

No matter how much President Im Jin-yong gave the instructions in advance, the momentum was bound to drop.

In any case, development had to continue, and senior Sangyeop ran frantically to meet the presidents of affiliates.

* * *

A few days passed, and the aftermath showed no sign of abating easily.

Foreign media also focused on the arrest of Chairman Im Jin-yong, and experts analyzed the impact on the economy in the future.

There has already been talk of a special amnesty.

The South Korean president has great powers, one of which is the power of amnesty.

President Huh Chang-min has been arguing that the presidential pardon should be abolished since the days of the opposition party, and he also made a related pledge during the presidential election. However, even within the ruling party, there was a strong wind that the president should exercise his amnesty in consideration of the economic situation and the reaction of public opinion.

Chairman Im Jin-yong has a good image compared to other chaebols thanks to his easy steps.

A poll conducted shortly after his arrest (I don’t know why) confirmed this, with 83 percent saying they should pursue an investigation without detention.

The problem is that in order to receive a pardon, the sentence must first be confirmed. However, since there were so many charges, it was highly likely that it would take at least six months for the trial to be completed.

In the end, you will have to stay in the detention center without moving until then.

Conservative media wrote articles with the tone that the arrest of Chairman Im Jin-yong was a targeted investigation by the prosecution and an internal conspiracy lurking there.

Many people wondered about the identity of the whistleblower.

Transcripts and documents sent to the prosecution and the media are not accessible to anyone. You must be in a high position to access important information. As such, the number of people with such information, no matter how anonymous, is limited.

So, it won’t be too difficult to identify who it is after the incident has happened.

I spoke on the phone with Kim Young-jik He is the nephew of Myeong-soo Kim, who is classified as a vassal of Seoseongga, and is an alumni of Chairman Im Jin-yong.

“Have you identified who the whistleblower is?”

[I think it is Moon Cheol-young, managing director of Seoseong C&T. He is classified as a close aide to former president Im Seung-yong.]

In the process of succession of management rights, only blood was not spilled, but a large-scale purge was carried out. Chairman Im Jin-yong mercilessly cut off those he thought were his opponents, and put his own people in their place.

Moon Cheol-young, managing director, was also cut at this time.

[Under the circumstances, it seems that he did not act alone.]

“For what reason?”

[I do not know. I can’t figure out the whereabouts, and I can’t be contacted.]

The act of accusing internal corruption is not to be condemned. Rather, I should commend you for doing a good job.

What I’m curious about is the motive. For social justice? Or because of someone’s instructions?

he said with a sigh.

[It would have been much better if things had happened in the previous administration. It is difficult to respond because the prosecution is also in a tough situation right now.

“It must be said that he was aiming for this time.”

I remembered the figure of Im Seung-yong I saw at the funeral of the late Chairman Im Il-kwon.

He once tried to seize control of Seoseong SB with his mother Yeonho Yeon. However, this failed, and he left his group completely, giving up his original shares of Seosung Heavy Industries and Seosung Engineering.

He is known to currently reside in New York with his family.

So, the question arises here.

Regardless of the illegality of the process, Seosung Group’s stock price rose sharply after Im Jin-yong became chairman.

From the shareholders’ point of view, it doesn’t matter whether Chairman Im Jin-yong is good or bad. What matters is how much he raises the stock price.

Wouldn’t it be better to have a CEO who manages well, even if there was some illegality in the process of taking over, rather than a good and sincere CEO who is not good at management?

When the illegal succession was found to be true and even arrested, the majority of shareholders supported Chairman Im Jin-yong.

Therefore, the management rights of Chairman Im Jin-yong will not be shaken. Then why is Im Seung-yong doing this now?

Taek-gyu heard my story and said.

“Isn’t it just revenge?”

“I don’t think I would have done something so thoughtlessly.”

If not as much as his older brother, Seung-Yong Lim would have been faithfully educated as a manager.

What on earth can he profit from this?

* * *

Chairman Im Jin-yong, who was imprisoned in the Seoul Detention Center, is said to have received solitary confinement.

Considering that other inmates live together in a narrow room that exceeds the number of inmates, this is a huge privilege.

Interviews with lawyers were also held daily. This is also something you can do because you have money.

However… …

“No matter how good you are, a prison is a prison.”

No matter how good the military is, no one wants to go back.

Taehyung nodded his head.

“Who would have thought that our president would eat soybean rice?”

“These days, they give me rice.”

As rice consumption declines, old rice is overflowing in government warehouses. Shouldn’t it be consumed in this way?

“I won’t be able to play Lost Fantasy Online together for a while. Who raises the paladin level? Ah! Haven’t you left it to the staff? I want you to shoot at full level until you are released from prison.”

“… … .”

In the yard where he was arrested, would he have even taken the game character?

“When will you come out?”

“Well. Won’t it come out within a year?”

Although there are countless number of presidents who have entered the detention center, there are still so few people who have served their sentences properly.

It is said that he has already organized his lawyers into the Avengers class.

“However, no matter how good a lawyer is, the evidence has already been revealed. Is there a way out?”

I remembered what I had heard from Ellie.

“Even if you fail in the legal battle, there are plenty of ways to get out of it. Military bail, suspension of execution, etc. After taking such a long time to be tried, the sentence may be commuted in the second trial, or we may give up the appeal in the first trial and wait for a special amnesty.”

It’s really unimaginable for those who don’t have it. If you look at this, money is the best.

“Isn’t this what happened when you were trying to make more money?”

No matter how rich you are, you are only one citizen. In the end, even Chairman Im Jin-yong could not overcome the law. If you are arrested, all the benefits you could enjoy with money are extremely limited.

That’s why the presidents just want to avoid being arrested.

I suddenly had this thought.

“If I sin, will I be arrested like that?”

Taehyung shook his head.

“Do I have to be guilty? You were imprisoned even when you were innocent.”

“What… … .”

So it is.

Anything you hang on to will catch you. If the government is imprinted, it will be possible to create a crime that does not exist.

* * *

Some talked as if the Korean economy would collapse if Chairman Im Jin-yong was arrested, but in fact, there has been no significant change since then.

The capital market was quiet, and stock prices, which had temporarily fallen, returned to their place. In the first place, the Korean economy and the Seosung Group are not so happy that they cannot go back without one person.

I took this opportunity to check the important businesses of OTK Company.

The first is self-driving electric vehicles.

Carlos is the number one contributor to the growth of OTK Company. Self-driving electric vehicles, represented by the AD series, are being sold throughout the United States and Europe.

Currently, ahead of the launch of the unmanned electric truck, battery replacement centers are in the process of being established across the United States.

Fortunately, Daryl is taking care of this area well, without having to worry about it. The cash flow is good, so there is no need to spend money.

Second is porn.

As the saying goes that Americans can’t live without porn (as people all over the world), Faceit has the second highest access rate after Netplay among OTT services in the US. Although the number of subscribers and sales are increasing sharply every year, net profit has remained at the bottom.

The reason is that they continue to reinvest.(Read more @ wuxiax.com)

Faceit put 40 percent of its profits into its own porn production, while the other 60 percent went into developing VR, adult products and real dolls.

To this end, it invested a large sum of money to acquire Dancing Rabbit, an American adult product company. Toby Strong said that Faceit will be reborn as an O2O (Online to Offline) company that delivers visual pleasure as physical pleasure beyond simple OTT service. (I first knew that the word O2O could be used like this)

With the legalization of pornography in Korea thanks to Rep. Nam’s activity (?), a video studio will be built in Saemangeum for the production and service of Korean pornography.

Third is the battery.

OTK batteries are used throughout the electronics industry beyond automobiles, and are in the process of replacing basic NCM batteries. Production has also increased exponentially.

With the steady incoming patent fees, Professor Homin Kim continued his research on new batteries.

The OTK Research Center plans to relocate to the side of the country’s largest battery complex when it is built in Saemangeum.

The fourth is a traveling wave reactor (TWR).

The experiment in Russia has been successfully completed, and now the commercialization phase is slowly being followed. Eight countries have already expressed their intention to participate and have agreed to standardize technology.

A TWR research complex will be built in Saemangeum.

Saemangeum is a new city with a population of over 1 million and a high-tech industrial city. In the future, when the plant is operated, it will require a huge amount of electricity.

Although it has not been officially announced yet, it will be partially funded by wind power and the rest by TWR.

Again, we only invested money in this work, and Professor Petrov and Rosatom are doing well on their own.

Fifth, Saemangeum new town development.

The overall responsibility for this project is Akit. Following the California restoration project, Akit was in charge of urban planning for Saemangeum and made his name known around the world.

Just as everyone works with MS Office, the architectural design software ‘Ark’ created by Akit has now become an essential tool for architects.

Sixth, VRMMORPG development.

This is the biggest project in game history. OTK Games is pouring out all the money it earns from Lost Fantasy M and Lost Fantasy Online.

If successful (and of course it will), it may become a cash cow that surpasses self-driving electric vehicles.

However, there are many difficulties in the development process. It will take a long time to commercialize it and make money.

* * *

While many things were going on at the same time, President Ichikawa flew to Korea.

After moving his headquarters to Detroit, he was busy directing the Serana project. The fact that he left his job for a while and came to Korea meant that he had an important job.

He brought it up right away.

“To create a virtual world with VR, the current server capacity is not enough.”

Taek-gyu asked.

“How much are you missing?”

“We need hundreds of times the capacity we use now.”

“… … ”

How bad is this?

President Ichikawa said as if asserted.

“We need to create a separate data center.”