Korean TV series: King of Peninsula 1997

Chapter 396 Swallowed by Whales
In Daying Group, Zhu Mengyong watched TV silently. He repeatedly watched the scene where Li You walked out of the Procuratorate.

After reading it countless times, Zhu Mengyong lowered his head and closed his eyes. When he opened his eyes, he saw the sign "President" on his desk.

Although his name is on it, he is not actually the president now.

Before Zhu Rongyi's death, he had acted quickly enough. With his support, Zhu Mengyong had inherited half of the Daying Group, but the other half has now become Zhu Rongyi's legacy.

On the Korean Peninsula, inheritance is completely different from ordinary inheritance. Inheritances exceeding 3 billion are subject to a 50% inheritance tax. The inheritance of the Daeyoung Group also meets the special provisions in the law and will be subject to an additional 20% tax.

In addition, inheritance tax requires the heirs to pay this tax additionally, and the money in the estate cannot be used as collateral.

What this means is that if he wants to inherit the other half of Daying Group, he has to pay 70% of the market value of this half of Daying Group. Even if there are some tax avoidance methods, the remaining amount to be paid is really an astronomical figure.

Originally, he could have drawn working capital from the Daying Group that he had already acquired. Although this would have resulted in some losses, he could still make more money after acquiring the industries.

This is where the problem lies. In fact, on the night Zhu Rongyi died, Zhu Mengyong had already wanted to withdraw working capital to pay for his inheritance.

But the next day, a terrorist attack occurred, forcing a large number of individuals and companies to sell off their high-quality projects to avoid risks.

Zhu Mengyong also instructed Daying Securities to do so in this way.

No one expected the stock funds to soar, and they turned into the same risk-averse moves that the Jokers did, maximizing their losses.

Chen Dongji almost lost all of Shunyang Securities due to his losses, and Zhu Mengyong directly lost his own hopes of inheriting the estate in the short term.

So after seeing the Kinmen Group making money crazily in the stock market, Zhu Mengyong exploded.

He wanted to make Kinmen lose its backbone for a period of time, and use the same method to suppress Kinmen's stock price in the stock market and buy a large amount of Kinmen stocks from retail investors. Although he could not get the right to speak in Kinmen, when Li You came out, Kinmen's stock price would definitely go back up, and he would be able to make a lot of money by then, alleviating the pressure on the camp.

But Zhu Mengyong failed.

In fact, earlier, if Zhu Mengyong could inherit the estate, he would never take action against Li You in a short time, even though he really knew that Li You was the mastermind behind the bombing of Daying Manor.

Although he has always been wary of Li You, the two sides have irreconcilable conflicts, and he has always been deeply wary of Li You.

But Zhu Mengyong would never do such a thing unless it was a crisis.

He just wanted to take a gamble. If the gamble succeeded, Kinmen would probably be hurt, but the camp would be able to set sail again.

He just lost the bet.

Now half of the industry is still in the hands of those uncles and brothers. Only a few of them have taken the initiative to show goodwill to me, but I have not inherited it and have no way of taking back the management rights from them.

He looked up and saw that the TV was still repeating what Li You did after he walked out of the Procuratorate.

Zhu Mengyong felt deeply helpless. If his elder brother or younger brother could really support him, he would not take the risk to make a hasty plan in order to revive his business.

The more Zhu Mengyong watched this scene and thought about it, the more he felt that Li You might have known it a long time ago. After Li You killed Zhu Rongyi, he never regarded Zhu Mengyong as an opponent.

But Zhu Mengyong could never understand why Li You was able to coincidentally take action the day before the New York terrorist attack and make countless money from the impact of the terrorist attack.

Zhu Mengyong really didn’t understand. He didn’t want to believe that there were people in the world who were so lucky, and he didn’t believe in any messy fate.

But the reality is that the camp president is no longer a figurehead.

Now that things have come to this, everyone knows that it was Zhu Mengyong who planned to persecute Li You, and now the persecution has failed. The Chief Prosecutor Liu Bingxian who was invited to move forward is now in the Anti-Corruption Department of the Supreme Procuratorate.

Zhu Mengyong also knew that Li You would start to attack him soon, so he had to make a lot of preparations from now on.

His subsequent actions, on the surface, seemed orderly.

On the one hand, Zhu Mengyong appeased the prosecutors and congressmen who had extensively cooperated with the camp, and on the other hand, he sent letters to his uncles and brothers for help. Even if he had to give them a portion of the inheritance, he had to keep what he had from Li You.

However, Zhu Mengyong did not look for his eldest brother who ran Daying Haiyang in Busan.

In addition to these two aspects, Zhu Mengyong also knew that Li You’s most powerful weapons, besides military force, were public opinion.

He is also trying his best to calm public opinion.

For example, he was sure that the Supreme Procuratorate would not be able to find any solid evidence of the financial transactions between him and Liu Bingxian, and as long as he was always careful not to make mistakes, he could easily close the case on the grounds of insufficient evidence.

Even if some evidence was leaked for some reasons, Liu Bingxian would definitely bear the consequences for the sake of his family's future life. Zhu Mengyong was fully confident in this.

An hour after Li You was released, Zhu Mengyong's team held a press conference.

The content of the press conference was very simple. It was to give a unified response to the questions raised by reporters, as well as the questions raised by the people of the Korean Peninsula and the officials who spoke.

The theme of the reply was of course very simple, which was to deny all information that there was any transaction between Daying Group and Liu Bingxian, and also pointed out that the statement of the Supreme Procuratorate did not say that it was Daying Group that had conducted interest transactions with Liu Bingxian.

Even as Zhu Mengyong was speaking, the reporters below were looking at their phones, and some even answered the calls.

Amid the excited eyes of the reporters, Zhu Mengyong's secretary hurried onto the stage and spoke into Zhu Mengyong's ear.

After hearing this, Zhu Mengyong's eyes widened.

Li You held a press conference in Kinmen and pointed out that it was the Daying Group that had power and money transactions with Liu Bingxian.

"Liu Bingxian is the most despicable person in the procuratorial system. As long as Liu Bingxian is removed, I believe the procuratorial system will be able to regain vitality."

These are Li You’s original words.

Zhu Mengyong also understood why there were not only so few reporters below, but they were also staring at them.

Because of what happened at the Kinmen Group's press conference, these reporters knew about it before Zhu Mengyong knew about it.

Zhu Mengyong shook his head and sighed deeply.

"Everyone." Zhu Mengyong shouted.

Before he finished speaking, the whole place fell silent.

There was silence for three full seconds, with all the reporters' faces tense.

It's okay for a journalist to know such explosive news, but don't laugh at either side, but don't think you can get carried away either.

Zhu Mengyong sighed helplessly, "I know you all have doubts in your hearts, so let's stop here today. I hope that things will progress tomorrow and our Daying Group will be at peace soon."

Li You's press conference directly stabbed Zhu Mengyong in the heart, making Zhu Mengyong's press conference in vain, and even the previous measures were in vain. Now he can only hope that those uncles and brothers can help him for the sake of blood relationship.

Zhu Mengyong returned to the office, looking a little dazed.

If someone had told Zhu Mengyong two months ago that the camp was about to collapse, he would definitely not have believed it and would have even kicked the person out.

But now it's really a bit shaky.

Thinking of this, he began to hate Zhu Rongyi again.

If we had not appeased our eldest brother at that time and directly handed over Daying Haiyang to Zhu Mengyong, the current situation would definitely not be so passive.

In addition to being the largest shipbuilding company on the Korean Peninsula, Daying Ocean is also the second largest shipping company in the country. The largest is Sunyang Logistics.

Although the shipping market has not been prosperous in recent years, as a peninsula country that is extremely dependent on shipping, there are always ways to make money.

As a result, such an important camp ocean was handed over to him in order to quell elder brother Zhu Mengyong's desire for the throne.

Zhu Mengyong's elder brother Zhu Yuzhe had a conversation with Zhu Rongyi. Zhu Mengyong didn't even know what it was about, but it must have been a very important conversation.

Because from then on, Zhu Yuzhe went to Busan, the largest port city, and ran Daying Ocean. He never competed with Zhu Mengyong in front of Zhu Rongyi again, but at the same time, he never asked about the performance of Daying Group.

Even when Zhu Rongyi passed away, Zhu Yuzhe only came back to pay tribute and observe mourning, and never mentioned anything else. He also didn't say a word to Zhu Mengyong, making it clear that he had cut ties with Daying Group.

Since the matter was settled, the weather has been very good these days.

Li You walked straight ahead, and he went to Shunyang Securities with only two secretaries.

Within a minute of him entering the Sun Yang Securities headquarters, Chen Dongji's secretary hurried to the door to greet him.

"Chairman Li," the secretary lowered his head, not knowing what Li You came here for this time.

"Is your representative here?"

The secretary nodded slightly.

Li You waved his hand, "Lead the way."

The secretary turned around hurriedly and took them to Chen Dongji's office.

There was a strong sense of frustration in the office, and Chen Dongji covered his head, not knowing what to do.

After hearing the noise, he raised his head and looked at Li You who walked in, with a confused look on his face.

Li You looked around and found that the place was indeed heavy and depressing.

After all, the Golden Gate Group had already bought those shares of Shunyang Securities from Miracle Company at a price slightly higher than the reserve price, plus the shares it had purchased itself.

The controlling rights of Shunyang Securities are actually in the hands of Kinmen Group, or Li You.

Chen Dongji stepped forward, his face revealing a hint of hesitation, as if he had a premonition of something but was unwilling to believe it.

"Chairman Li" Chen Dongji wanted to get closer to him, and relying on their previous alliance relationship, he asked Li You to give him some leniency.

But he couldn't think of how to show leniency.

Li Youmo watched coldly from the side. After Li You stretched out his hand, she quickly took out a document from her briefcase and put it in Li You's hand.

Li You had a smile on his face, but he slammed it on Chen Dongji's desk without mercy, and walked to Chen Dongji's original seat and sat down.

Chen Dongji swallowed and looked out the window involuntarily, not wanting to look at the document.

Seoul outside the window was still bustling, which was in stark contrast to his confusion and helplessness at the moment.

"Let's not do this anymore," Li You lit a cigarette, causing smoke to appear in the room, "We are all decent people."

Li You narrowed his eyes, "Ever since Chen Rongji changed his mind, you have been thinking about dealing with me."

"Then why." Chen Dongji didn't understand, "Why not deal with him?"

"Why not deal with him?" Li You waved his hand. "When I encountered the assassination in Busan, it was indeed Chen Rongji who reminded me. Not taking action against him this time is considered to be giving him a chance."

After Chen Dongji fell silent, Li You stopped talking.

"This is a letter of intent to acquire, sign it," Li You picked up the document again and threw it in front of Chen Dongji again.

When the thin letter of intent to acquire was thrown on the table, the sound it made was like a heavy hammer hitting his heart, and Chen Dongji couldn't help but tremble.

He looked up and his eyes met Li You's. For a moment, helplessness and disbelief formed a complex web in his eyes.

Chen Dongji really wanted to tear the document into pieces so that it and Li You would never appear in front of him again.

But the stark reality has turned this letter of intent into an insurmountable order.

It is called a letter of intent, but in fact it is just the final confirmation.

Li You was just too lazy to make a big fuss and convene a board meeting for a vote, so he used this method to remove Chen Dongji from his position.

It would be better to let Chen Dongji sign and become an employee of the Kinmen Group from then on.

Chen Dongji's eyes fell on the document, his fingers trembling slightly as he touched the paper, and he knew that there was no other chance of turning around here.

Everyone was suffering heavy losses, and no one could afford to pay so much money to snatch back Shunyang Securities shares from Li You.

There was silence in the room for a moment. Chen Dongji's fingers gently stroked the edge of the paper, and each breath seemed particularly heavy.

After a long silence, Chen Dongji slowly picked up the pen and heavily signed his name in several places on the document.

Li You smiled with satisfaction, "From now on, Representative Chen will still be Representative Chen."

He stood up and patted Chen Dongji on the shoulder, "Shun Yang Securities is still Shun Yang Securities."

But the ownership of Shunyang Securities has already belonged to Li You.

(End of this chapter)