Korean TV series: King of Peninsula 1997

Chapter 505: Taking Shunyang
Li You answered the phone and heard Chen Daojun's voice, "President, everything is ready."

"it is good."

After hanging up the phone, Li You smiled and called Li Mingxue, "The mayor should also prepare, and we will proceed together."

The Sunyang Group, once the most powerful group on the Korean Peninsula, is really about to disappear.

To be honest, everyone was mentally prepared for this matter, but when it really started, even Li You started to get excited, not to mention the others.

Of course, no matter how excited we are, we still need to cooperate actively.

No one on the entire Korean Peninsula wants to go to war with Lee You now, no matter what kind of war it is.

The attitudes shown by all parties are very friendly. When a person becomes powerful enough, he will indeed have friends everywhere.

At first, the Blue House held a meeting to discuss those industries in the Sunyang Group that cooperated with the government.

No one cast any damn vote against it, and the Blue House quickly decided that after the acquisition of Shunyang Group was officially completed, the government-enterprise cooperation businesses that once belonged to Shunyang Group would also remain within Shunyang Group's business.

Seoul City Hall also held a press conference. Mayor Lee Myung-hak not only supported the Golden Gate Group's acquisition of the Soonyang Group, but also demanded at the press conference that all departments in Seoul should actively cooperate with the acquired industries of the Soonyang Group to avoid a large number of unemployed people, and that government compensation clauses should also be prepared for the small number of unemployed people.

However, of course, there was another important thing that Seoul City Hall did when holding this press conference, which was to officially announce the success of the Cheonggyecheon restoration project.

The Cheonggyecheon restoration project has been going on for a year and a half, and its success symbolizes many things.

The benefits Li You gained from this project were innumerable.

Just shortly after the announcement, the price of land around Cheonggyecheon Stream rose rapidly.

In the area around Cheonggyecheon, the land price per square meter will increase by hundreds of thousands of won for every meter closer to Cheonggyecheon.

At the same time, it is no different from the estimate in Kinmen. The land price is more expensive in the west end closer to the City Hall, which is 25% higher than the Cheonggyecheon area in the east.

It was at this time that people were surprised to find that when the Cheonggyecheon restoration project was underway, many blocks adjacent to the Cheonggyecheon had actually been demolished and were even undergoing new development plans.

Some people who were interested checked and found out that these places had already been taken over by Kinmen Real Estate a long time ago.

Especially in the western part of Cheonggyecheon, thanks to the completion of the Asan City Hot Spring Project and the Jeju Island Phase II project, Kinmen Real Estate was able to mobilize a large number of workers to start cross-strait construction.

In Li You's plan, both sides of the western Cheonggyecheon Stream will be built with high-rise buildings to maximize profits.

From the Blue House to Seoul, once the road was paved, everything seemed to be in order.

In fact, Li You has been preparing for quite some time, just waiting for this day.

During the acquisition process, the biggest difficulty Li You encountered was Shunyang's debt problem.

Acquiring Shunyang also means taking over these debt problems, but for Li You, this is actually not a difficulty at all, it is just a small problem at most.

Because Li You originally wanted to buy most of Shunyang, Kinmen Group now had sufficient cash flow and had already prepared large amounts of Korean won. The amount of debt did not pose any obstacle at all, not to mention that many creditors were optimistic about Shunyang after the acquisition and even proposed to use the debt to buy part of the shares.

Because Sunyang's debt is very special, in addition to those who want to buy shares with debt, the majority are policy banks on the Korean Peninsula.

Every country has policy banks, such as the Export-Import Bank of China, the China Development Bank and the Agricultural Development Bank of our neighboring big country.

This thing was created by the government to implement the government's economic policies.

The Seoul Metropolitan Government is in cahoots with the Kinmen Group, so this matter is of course easier to resolve.

This included the cancellation of part of the debt, lowering interest rates on the remaining debt, and even most policy banks proactively extending the debt repayment period for Shunyang Group.

In fact, the acquisition had been completed before the Kinmen Group started to deal with the debt problem of the Shunyang Group, but it had not been announced to the public until it was completed.

On the last day of 2004, the acquired Shunyang Group announced that it would hold a meeting of the board of directors and senior management, and a press conference would begin after the meeting.

The Shunyang Group will be named Li from now on. The sunlight shines through the glass curtain wall, refracting into the spacious press conference room of the Shunyang Group and onto the neatly arranged microphones.

This used to be the symbol of Chen Yangzhe's power, but now... the person in charge has changed.

These microphones will become witnesses to Shunyang's complete decline.

In front of the TV wall, the flickering screen repeatedly plays the past glory that Shunyang created under the leadership of Chen Yangzhe.

The door of the conference room in Shunyang Building was closed.

The desk was littered with documents and reports, recording the group's past glory and recent decline, as well as the completion of the acquisition.

A group of executives in suits and leather shoes sat around a long table, their faces solemn and their eyes
There is no regret or loss at all, just complete enthusiasm to work for the new employer.

"President nim!"

Li You pushed the door open and walked in. All the former executives of Shunyang Group stood up in unison and bowed.

Li You looked around, sat in Chen Yangzhe's seat for a while, and waved his hand with a smile, "You're welcome, everyone. Shunyang will still rely on you in the future."

Only then did the executives straighten their backs.

Li You looked at the watch on his hand and said, "It's almost time. It seems I should go there too."

He pointed to the documents on the table and said, "Everyone, work hard."

At the door of Shunyang Press Conference Hall, Quan Jae-jun followed Li You to the entrance, stopped under the podium, and watched Li You go up.

Reporters were talking about it one after another, and they were all waiting for that historic moment, when the news of Shunyang Group's acquisition would be officially announced.

As Li You stepped onto the podium and fiddled with the microphone twice, the whole audience fell silent.

All the reporters looked at today's protagonist.

Li You's eyes swept across everyone present and finally fell on the cameras representing the media.

"Everyone," Li You said with a smile, "let's make this short."

"Today is a new beginning," Li You pressed the remote control, and the slide behind him switched to the next one.

"We have completed the acquisition of Shunyang Group."

The audience applauded for a long time.

"The acquisition of a super-large group like Shunyang is very complicated, so it took several months," Li You said calmly, "We have dealt with Shunyang Group's debt problem and can start industrial restructuring."

Li You smiled and said, "During the reorganization process, the Jinmen Group and Shunyang Group will be merged into one."

"But it will take a long time," Li You said, "It involves too many people, so we must proceed with caution."

"The companies merged this time include Future Electronics, formerly known as Shunyang Electronics, and Shunyang Securities. They will be collectively known as Shunyang Group and will make progress together with the industries of the Kinmen Group."

As he finished speaking, thunderous applause broke out in the venue.

Reporters' pens moved quickly across the paper and camera flashes flashed wildly, recording this historic moment.

After Li You finished his speech, he answered some related questions, then handed the press conference over to other people present and left.

It would take a lot of effort to integrate Future Electronics, Shun Yang Securities, and half of Chen Rongji's Shun Yang Group, not to mention that Li You would have to merge them with the Golden Gate Group, which would bring a lot of work.
It is hard to imagine what a behemoth the reorganized Kinmen Group will be.

(End of this chapter)