Hong Kong: Rise of the Kings.

Chapter 1122 1108 [Power in Hands]

In the days that follow——
Du Yongxiao convened the largest shareholders' meeting in the history of Samsung Group based on his largest shareholding in Samsung Group.

During the conference, in addition to planning the future development path of the Samsung Group, such as continuing efforts in semiconductor electronics and chemical industries, Du Yongxiao also plans to invest in Samsung's communications business, Samsung's entertainment business, and Samsung's tourism business.

This proposal was intensely discussed at the conference and was ultimately approved by Du Yongxiao himself.

People have no confidence in Samsung Entertainment and Samsung Travel, but Du Yongxiao's autocratic approach leaves a deep impression on everyone.

The second resolution of the conference was the selection of the future chairman of Samsung Group.

Everyone speculated that Du Yongxiao wanted to remove the current chairman Lee Byung-chul to clear the way for his favorite Lee Gun-hee.

The fact is, Du Yongxiao did recommend Lee Geon-hee as the next chairman of Samsung Group, but did not dismiss Lee Byung-chul. Instead, he encouraged Lee Byung-chul to continue working and even used the Chinese poem "An old horse in the stable still has a thousand miles to go" to encourage him.

This scene left everyone dumbfounded.

Many people thought that this shareholders' meeting was Lee Byung-chul's last glory, so many people began to flatter the powerful and criticize the weak, speaking rudely of the old chairman Lee Byung-chul, but they did not expect that Lee Byung-chul would remain standing.

After Du Yongxiao made his suggestion, Lee Byung-chul immediately stood up and spoke together. He first thanked Du Yongxiao for his trust and encouragement, and then expressed his determination to fight for Samsung until the last minute.

Finally, Lee Byung-chul reviewed the entire process of establishing the Samsung Group and told everyone that the Samsung Group will be an international group in the future, rather than a group belonging to a certain family or country.

There is obviously something else behind this sentence.

Many shareholders who like to think have heard something. Combined with Du Yongxiao's Chinese identity, the future path of Samsung Group may really be an international one.

Except for the eldest son of the Lee family, Lee Chang-hee, and the second son, Lee Meng-hee, who were relatively disappointed, the conference had almost no impact on others.

There are even people who are very happy about getting a promotion and a raise, such as the semiconductor godfather Kim Jong-ki, who is extremely trusted by Du Yongxiao.

This researcher who was originally marginalized in Samsung Electronics, who was a technical talent who did not know how to curry favor with others but only knew how to develop research, was directly appointed by Du Yongxiao as the director of the R&D department of Samsung Electronics, responsible for all semiconductor R&D work, and these R&D results were only responsible to Du Yongxiao. In other words, Kim Jong-ki only needed to be loyal to Du Yongxiao in the future, and did not need to look at anyone else's face.

Du Yongxiao is the only person in Samsung Electronics who possesses semiconductor research and development technology.

Du Yongxiao's decision showed his thirst for talent and also attracted more technical talents from South Korea to join him.

Du Yongxiao accepted them one by one, but two of them had questionable personalities, which many senior executives objected to, because one was greedy for money and the other was lustful. Samsung Electronics needed people with high character to take up the position.

Du Yongxiao’s response was that no one is perfect and technology comes first.

In addition, Du Yongxiao is also planning to appoint Lee Soo-man, a famous Korean singer and producer, whom he has just met, as the president of Samsung Entertainment, and promises to give him shares and allow him to join the board of directors of Samsung Group as a director. This is another shocking news.

There is something fishy about the "gift" here. It is a gift to the outside world, but internally it is a sword of authority lent to Lee Soo Man by Du Yongxiao in order to give him enough power to establish Samsung Entertainment. Du Yongxiao can take it back at any time.

As for whether Lee Soo-man can really obtain Samsung shares in the future, it depends on whether the Samsung Entertainment he founded can become a large and profitable company.

In response, Lee Soo-man displayed the demeanor of a general, thanked Do Young-hyo for his trust, and told the entertainment industry that the first female artist signed by Samsung Electronics was Miss Kim Sun-ah.

Kim Sun Ah?
She never dreamed that her dream of becoming a star would suddenly come true.

This gifted student of Seoul National University dreamed of taking the bar exam and becoming a prosecutor or a barrister. However, she never expected that Do Young-hyo would give her a new path: becoming a star.

Kim Sun-ah was hesitant at first, until Lee Soo-man told her that being a star did not conflict with her future plan. If she wanted, she could choose to continue studying for the bar exam after becoming a big star and become the person she wanted to be. The reason why she was announced as a star signed by Samsung Entertainment was mainly to create a gimmick.

After all, being a college student in Seoul in this era is a selling point in itself.

As for the big star that Lee Soo-man really wants to cultivate in the future, it is the little girl Deok-sun that Do Young-hyo and Kim Sun-ah know.

Deok Sun's beautiful voice has already conquered Lee Soo Man. Also, Deok Sun is young, like a blank sheet of paper, and has greater plasticity.

After Samsung's shareholder meeting -
The entire Samsung Group began to take comprehensive action and develop according to the "international route" formulated by Du Yongxiao.

Samsung Group no longer excludes foreign personnel from joining and participating in its development and management. The entire Samsung Group has transformed from a very original family business into a fashionable one, becoming one of the first large international companies.

This huge change in Samsung Group has left the Korean people stunned.

In the past, many democrats criticized the Samsung Group’s hereditary system and its stubbornness.

Now I feel something is wrong, but I can't put my finger on it. I just vaguely feel that the current Samsung is no longer the Samsung of Korea.

……

Samsung’s huge changes have made Hyundai Group, which is on par with Samsung and even surpassed Samsung for a period of time, extremely anxious.

As a family business, Hyundai Group has also always inherited the hereditary system.

As the current chairman of the Hyundai Group, Chung Ju-yung saw some clues from the reorganization of Samsung. The question now is whether he should take the initiative to propose convening a shareholders' meeting to discuss the future development direction of the Hyundai Group with Du Yongxiao, or wait for Du Yongxiao to take the initiative to move forward.

From Chung Ju-yung's perspective, he was absolutely unwilling to reorganize. He was not willing to give up the power he held until he was fully comfortable in it.

So Chung Ju-yung planned to play deaf and dumb and continue without saying anything. As long as Du Yongxiao didn't say anything, he wouldn't mention it.

But just because he didn't mention it doesn't mean others won't mention it.

That person was Li Mingbai, one of the senior executives of Hyundai Group recommended by Du Yongxiao.

Li Mingbai used to be a capable general under Chung Ju-yung of the Hyundai Group. Unfortunately, Chung Ju-yung was too family-oriented. For the sake of his son, he expelled Li Mingbai, causing this poor boy to fall from the clouds to the mud.

Li Mingbai was a talented person. He originally wanted to take off with the help of Hyundai Group and thought that Chung Ju-yung was someone he could entrust his ideals to.

Unfortunately, ideals are too perfect and reality is too cruel.

Chung Ju-yung fired him to make him see everything clearly.

A poor boy will never be able to challenge the deep-rooted family forces in South Korea.

Just when Li Mingbai was feeling discouraged, he met Du Yongxiao.

Du Yongxiao had a keen eye for talent and not only allowed him to re-enter the Hyundai Group, but also gave him a higher position than before.

All that Du Yongxiao did made Li Mingbai grateful, and he also regarded Du Yongxiao as his only master. No matter what Du Yongxiao did, he would follow him to the death. This time, Du Yongxiao started to reform Samsung, but did nothing for Hyundai.

Others don’t understand, but Li Mingbai knows it very well.

So he took the initiative to draw up a list of members for the internal reorganization of the Hyundai Group and presented it at the regular meeting of the Hyundai Group.

Hyundai Group’s regular meetings usually start at 8 a.m. and end at 9 a.m. at the latest, so as not to affect everyone’s work.

As the current largest shareholder of the group, Du Yongxiao has rarely attended regular meetings, and even if he occasionally attends, it is only by invitation.

Such as this time.

Du Yongxiao's appearance during the meeting made some smart people feel that "a storm is coming" and they began to whisper among themselves.

Hyundai Chairman Chung Ju-yung was also worried when he saw Du Yong-hyo appear.

Next, Li Mingbai started his magical operation.

He proposed a motion at the meeting to reorganize the internal structure of Hyundai Group, citing the outdated structure and redundant personnel. His proposal was to streamline the administration and implement a director responsibility system. Previously, 28 managers of the company competed for eight director positions, and among these eight directors, there were two important positions: chairman and vice chairman.

According to tradition, the chairman of the board will be Chung Ju-yung, chairman of the Hyundai Group. Originally there should be two vice-chairmen, but this time only one will be retained. The power of this vice-chairman will undoubtedly become extremely important. He is the real second-in-command in the management, second only to the top leader and above all directors.

As for the election of vice chairman this time, who will be the winner, will it be someone directly under Chung Ju-yung, or someone designated by an outsider like Du Yongxiao, probably no one can give a clear answer.

In fact, within the Hyundai Group, the majority of people are pro-Chung Ju-yung's direct subordinates. Du Yongxiao is an outsider after all. Although he owns absolute shares and can designate candidates, he also has to consider his face and the Hyundai Group's election rules and cannot act arbitrarily in front of everyone.

Therefore, if the vice chairman position is really recommended through election, it should still be Chung Ju-yung's people. And Chung Ju-yung already has a candidate, that is his son Chung Mong-koo.

I am the chairman of the board.

My son is the vice-chairman.
How natural this is!

At this time, Zheng Zhou Yong was sure to win. In the group's management, which senior executive did not have the word "Zheng" engraved on his forehead?
Soon, the list of recommended personnel for vice-chairmen was drawn up, and the list was jointly drawn up by Du Yongxiao and Chung Ju-yung.

Looking at the list, Chung Ju-yung's eyes became a little vague. There were a total of seven people on it, but there were actually only two who were truly competitive, his son Chung Mong-koo and Du Yongxiao's loyal subordinate Lee Myeong-baek.

If the normal voting procedure was followed, Chung Ju-yung believed that his son Chung Mong-koo's name would not be difficult to pass. However, when he looked at Do Young-hyo who was sitting next to him and silently looking through documents, Chung Ju-yung suddenly felt unsure.

Will Du Yongxiao really just wave his hand and let it go?

While Chung Ju-yung was daydreaming, Du Yongxiao turned to those who were running for the board of directors and said with a smile: "Everyone should work hard. Everyone has a chance."

Chung Ju-yung also glanced at the directors. Except for one of them named Li, who was not very easy to get along with and always gave people the feeling of being self-admiring, since joining the Hyundai Group, neither his son Chung Mong-koo nor Chung Ju-yung himself had been able to establish a close relationship with him.

But Director Li is no pushover either. He is also a major shareholder of Hyundai Group and does not need to please anyone.

In addition, this person is very decisive in his work. During the Spring Festival, he investigated the head of the human resources department of the Hyundai Group without reporting to his superiors, which implicated a large number of senior executives, making Chung Ju-yung very angry. On the surface, he praised Director Lee for doing the right thing and believed that the group's parasites should be found out, but secretly he was very dissatisfied with Director Lee's autocratic work style, which made the work of Chung Ju-yung and other senior executives very passive.

It can be said that Director Lee gave Chung Ju-yung a headache. He was stubborn and it was obviously unrealistic to want to have a closer relationship with him. He might find fault with you and cause some trouble. Most people would stay away from such a wicked person.

After taking a sip of tea, Chung Ju-yung pondered for a long time. This time the showdown was between his son Chung Mong-koo and Du Yongxiao's follower Lee Myung-pak. Director Lee was just a cannon fodder, or a foil, and was not worth mentioning.

There are a total of thirteen people responsible for the voting now, ten of whom have a good relationship with me, so I am sure to win.

Zheng Zhouyong glanced at Du Yongxiao secretly, then picked up the teacup to drink water, thinking about what Du Yongxiao was thinking at the moment, thinking about how Du Yongxiao would refute him, and how he should respond.

All the details must be considered carefully. Today's reorganization is too important to allow any mistakes.

Chung Ju-yung was wary of Du Yong-hyo's arrival, and even a little frightened.

Although Du Yongxiao did not interfere in Hyundai Group as much as he did in Samsung, as the largest shareholder of Hyundai Group, the power he possessed made Chung Ju-yung really fearful.

The quieter Du Yongxiao was, the more worried Chung Ju-yung became.

After all, Samsung Group is a lesson learned. At the beginning, Du Yongxiao invaded the original circle system alone, and within a few months, the Samsung Group was completely changed. Moreover, this time the change of part-time job was silent and gradual. When you suddenly realize it, you find that the situation is over.

This is also the strength of Du Yongxiao. He can hear thunder in silence. He never destroys the original power system in a certain place, causing rivers of blood and endless complaints. Instead, it is an erosion of power.

Even an old fox like Lee Byung-chul of Samsung suffered losses at the hands of Du Yongxiao, which shows how powerful he is.

Just when Chung Ju-yung was about to urge the election voting to start as soon as possible to avoid any further delays, Li Mingbai, who had just submitted the resolution document on the reorganization structure, stepped forward again, handed a document to Chung Ju-yung and said, "Mr. Chairman, here is another document for your review!" He spoke very politely.

Although Chung Ju-yung felt a little disgusted, he still nodded, took the document, opened it, glanced at it, and his expression gradually changed. He looked at it slowly and carefully.

After about five or six minutes, Chairman Chung Ju-yung's face became gloomy and the atmosphere in the conference room became solemn. Some senior executives who were originally exchanging opinions in a low voice also slowly sat up straight.

Du Yongxiao had been silently looking through the list in his hand.

Chung Ju-yung became more and more flustered as he looked at the document in his hand. He knew every word on it, and because of that, he realized how heavy this document was.

This document is a complete collection of dirty secrets!
The above lists the various scandals of five of the seven candidates who will be running for vice chairman.

This includes his son Chung Mong-koo. The only ones who have no scandals or black material are Lee Myung-bok and Director Lee.

Chung Ju-yung didn't know where Lee Ming-pak got so much black material from, and he gave it to him at this time, obviously trying to make a deal with him.

Thinking of this, Chung Ju-yung felt confused. His previous confidence was gone, and he even began to regret proposing the election.

When his son Zheng Mengjiu saw that his father had a gloomy face, he didn't know what had happened. He was still waiting for his father to urge the election to begin, so he looked at his father and asked what had happened?
Zheng Zhouyong handed over the document that Li Mingbai had sent to him with an expressionless face, and said in a deep voice: "Take a look!"

Zheng Mengjiu was slightly startled, picked up the document and looked through it, his expression changed immediately.

"No, no, no, it's not like that. Father, please listen to my explanation!" Zheng Mengjiu said anxiously.

"Shut up! There is no so-and-so's father here, only the president and the chairman of the board!" Chung Ju-yung scolded.

The people around looked at the father and son, and looked at each other, not understanding what was going on.

(End of this chapter)