Chapter 480 – Part 3

Seong-jin was at first very embarrassed that he had become known so suddenly, but when he thought about it, he thought he wasn’t that bad.
It was because it was something to be learned later anyway when the bankrupt companies were merged into the HK Group.

Now that this has happened, Seong-jin rather clearly announced that he supported Candidate Se-joong Kim.
However, he made it clear that he was a businessman, so he had no intention of losing money by buying the company.

When this happened, it was the IMF side that made a fuss.
To be honest, there was another hidden reason for the IMF to come to Korea.

It was intended to open the door to Korean companies with infinite potential for future growth, so that large foreign capitals could hide in the dark and shake such a Korea.
So, the accounting standards were changed and a new capital integration law was created to facilitate the inflow of foreign capital into Korea.

But suddenly, a man named Seongjin Lee appeared and was buying all of those companies first.
At first, the IMF, of course, thought that Sungjin’s fund was an American private equity fund, and that it was a fund created by hidden overseas capitalists, so it was silent, and then it was hit in the back like this.

If Seong-jin’s private equity fund properly opposes the IMF’s own policies, the sketch it had been drawing would become a joke at once.
So, he put the brakes on that Sungjin’s private equity fund should be defined as a domestic fund, and he showed his guts to refuse to support the 12.9 billion dollars in Korea.

[Chairman Lee Seong-jin, his private equity fund is an American private equity fund, and he refutes the voice of Korean descent claimed by the IMF.]
[To resolve the IMF crisis, Lee Seong-jin’s private equity fund decided to support the Korean government with 10 trillion won worth of dollars.]
[An interview with Chairman Lee Seong-jin.
– Chairman Lee Seong-jin announced that he decided to minimize corporate restructuring, such as honorary retirement, instead of cutting out the ills of companies.]

In this way, Seong-jin took on the role of Korea’s savior in the face of the IMF’s attack.
Naturally, Seong-jin received enthusiastic applause from the people, and candidate Kim Se-joong, supported by Seong-jin, was elected president overwhelmingly.

And as soon as President Kim Se-jung is elected, Korea will be able to escape the IMF system early with the dollars that Seong-jin saved from buying bankrupt companies and the 10 trillion won that he promised to provide additional support.
There was no such thing as a gold-gathering movement in history before the return.

However, the IMF crisis was not so easy.
Since Seongjin already knew Korea’s endemic ills and structural problems even before returning, he boldly cut out those parts.

Seong-jin took the first step and introduced international accounting standards, and through a thorough audit, he boldly resigned from the company and filed a criminal complaint against the person who committed the corruption.
In the case of automobiles, even the corruption of the union was thoroughly uncovered, and it was even called the emperor union, weakening the malicious union force that had a bad influence on the company.

It would not be an exaggeration to say that Korea is suffering from body aches.
These ruthless things of Sung-jin will later become blood and flesh, but it is because inevitably many people had to lose their jobs.
It was not as much as the IMF era that Seong-jin knew before returning, but it was inevitable that the fierce wind was blowing.

Instead, Seongjin made sure to improve the constitution of lax companies, and provided financial support accordingly.
Seongjin’s case became an example, and other conglomerates, such as Jangsung Group and Hyunjae Group, were able to reorganize their groups and use this opportunity to prepare a driving force for reliable growth.

Korea has become an exemplary case of early graduation from the IMF in less than a year.
However, the economic recession that had already begun to blow in East Asia began to spread around the world, and President Kim Se-joong made a large investment in IT, the future food.
Of course, this was Sungjin’s advice, and the IT bubble we know in the late 1990s began at this time.

At the end of 1997, President Kim Se-jung announced that he would build a large-scale second-phase new town to boost the frozen economy.
Of course, the place to become the 2nd new city was the Seongnam area, which Seongjin had already purchased through Mirae Construction, and at the same time as the announcement, the land price in that area began to rise like crazy.
But strangely, someone owned most of the land in the area, and there were a lot of people who wanted to buy it, but no one was selling it.

Already during the IMF crisis, Mirae Construction merged two domestic construction companies and became the second largest construction company in Korea after Hyundai Construction.
And it was selected as the main construction company in the announcement of the second phase of the new city.
Naturally, Mirae Construction owned all the land in the area.

President Kim Se-jung said that he was surprised and shuddered when he received a report later that Mirae Construction had most of the second-generation new town area.
President Kim Se-joong, who already knew to some extent what Gwang-shik had done when he made President Kim Hyeon-sam the president, became president this time and realized that Sung-jin was behind him, and that all of this was under the control of Sung-jin.

Moreover, President Kim Sae-joong also thought that Seong-jin was really great that he had made a huge amount of money to save the country from bankruptcy in a short time.
However, when he heard that Mirae Construction already owned most of the land for the 2nd new city, Seong-jin came to realize that he is also a person who sees the future.
And I got goosebumps about what would happen if I got out of Sungjin’s eyes.
Didn’t you already check it with your own eyes through the resignation of President Kim Hyun-sam?

Therefore, President Kim Se-joong rather quickly approved Seongjin’s future construction as the main construction company for the second-generation new town, and it is said that he urged his children and aides not to do anything that would go beyond Seongjin’s eyes.

With the announcement of the second new city, Seongjin again earned more than 10 trillion won in land prices alone.
In addition, it is hard to imagine how much profit will be made if the company builds and sells apartments as a major construction company.

After 1997, the HK Group became a huge group with almost all chimney businesses, including oil refining, chemical, shipbuilding, automobile, and pharmaceutical industries, and became the fourth-largest conglomerate in the business world following the Hyunjae Group, the Jangseong Group, and the Jewoo Group.
Sooner or later, as the Jewoo Group is dismantled by President Kim Se-joong, the HK Group will rise to third place in the business world.

However, even though HK Group has grown so greatly, Seong-jin did not return to the chairmanship.
He was just carrying on the title of honorary president and doing moderate work while flying back and forth between the US and Korea on a private plane.

Now, if it’s money, it’s overflowing enough to rot and throw it away.
In US investment companies, more than tens of trillions of dollars were still invested in US companies and around the world, increasing money in real time, and through Mirae Securities, most of the stocks of tolerable Korean companies were owned by about 20% per company.
In Korea, if you don’t pay attention to Seong-jin, it’s to the point where you can say that companies can’t do it.

Moreover, with the regime on its back, no company dared to challenge Sungjin’s HK Group, and the HK Group was just running well on its own.
There was no need for Seong-jin to do everything as the chairman.

And it was a situation where it was helpful to the regime that Seong-jin not stay in Korea.
In a situation where the president is paying attention to Seong-jin, having Seong-jin in Korea was a great stress for politicians.
Literally, the country is controlled by one person, Seong-jin, but what kind of politician would like it and stay still?

Seong-jin was also fully aware of these things, and he did not want to cause trouble, so he entrusted the chairmanship to a professional manager and lived a leisurely life.

Seong-jin’s interest was only in his children.
Women may say that their children are their main concern, but Sung-jin had seen so many wrong personalities like the idiots of the children of conglomerates before his return.
No matter how well educated you are, what will you do if you have good business management skills? Because his personality was trash, he often forgot the wealth his parents had worked hard to build.

So Seong-jin invested a lot of time in character education for So-hee and other children.
As they spent time together, she traveled and played, and she talked a lot with the children she is now in elementary school.

In this way, Sungjin’s children grew up well, graduated from famous American universities with excellent grades, and inherited Sungjin’s business one by one.

She was slightly worried that her mother would give her everything to her son Young-Min, but her mother honestly didn’t care what her children did.
Her mother’s interest was always only Sungjin.

Perhaps because of this, or rather because Sohee is exceptional, Sohee, who graduated from Harvard University’s Department of Business Administration, took over the holding company, HK Co., Ltd., At the young age of her late 20s.