Korean TV series: King of Peninsula 1997

Chapter 584 Is Kinmen in danger?

After the small meeting, Li You soon convened a meeting of the management of Kinmen Group.

There were more people attending this meeting, so Li You held a serious meeting in the conference room.

After all the participants arrived, Li You cleared his throat and spoke in the quiet meeting room.

In fact, Li You hasn't faced these managers directly for a long time. Sitting high in the office, he is not afraid that these people will abuse their power for personal gain.

This is a very normal thing, especially in such a large enterprise, it is inevitable to abuse power for personal gain.

Especially in the Korean Peninsula, which is deeply influenced by Confucian culture, official culture, and drinking culture, this kind of thing is inevitable.

The distorted hierarchy between superiors and subordinates and between the old and the young has permeated the lives of countless people on the Korean Peninsula.

In the entire conference room, no one else was talking except Li You.

He didn't say anything polite, all he said were important matters concerning the Kinmen Group.

"As for Kinmen Entertainment, it can further develop free online entertainment, deepen its membership system, close those inefficient theaters and amusement parks, turn to light asset operations, and focus on IP licensing and streaming media cooperation."

After briefly talking about Kinmen Entertainment, Li You got to the point.

"Starting from this month, the group will begin to implement overall coordination measures," Li You arranged the strategy for the whole year of 2007, and even for 2007 and 2008. "Centralize cash flow management, set up a group capital pool, give priority to core business and R&D investment, and suspend expansion in non-strategic areas.

"We will give priority to investing in Kinmen Electronics," Li You thought. After the fourth generation of mobile phones, there has been no major upgrade in the past two years. At present, the technology has reached a bottleneck and the compatibility of the system and applications is being slowly improved. "In the future, we will focus on Kinmen Electronics and put the real estate development and trade industries on hold.
The group will establish an emergency response mechanism and conduct stress tests on the group's subsidiaries for three months to simulate asset liquidity and debt repayment plans under extreme scenarios.

As for employees, in order to maintain employee stability, the salary structure needs to be optimized, and core employees can establish a corresponding equity incentive system to avoid possible large-scale layoffs that may cause social public opinion risks.

In terms of Kinmen trade, we can continue to develop new customers in the first half of the year, but we will accept fewer orders and focus more on maintaining the supply chain and customer relationships.”

"In addition, the vice president," Li You pointed to Ding Qing who was sitting on the left, "will have a specific plan to increase cooperation with China."

"The executives of Kinmen Real Estate will stay for a while, and the rest of you can adjourn the meeting."

It was called a meeting, but in reality only Li You was explaining things.

At times like this, the benefits of centralization became apparent. As Li You was the one who had the final say, no shortsighted directors or executives ever came out to argue and seek death.

The people from Kinmen Real Estate sat there nervously, thinking that something had gone wrong with their work.

"Don't worry, everyone." Li You smiled kindly. "I'm keeping you here mainly to explain the development direction of Kinmen Real Estate in the next year or even two years."

"The first point is to speed up the clearance of inventory and sell the existing houses that have not been sold yet, whether through price cuts or preferential loan interest rates for first-time home buyers," Li You said in a deep voice. "We must attract more people with urgent needs within half a year, and at the same time reduce the bidding for those high-priced plots."

The people below couldn't remember much, so they kept taking notes. Looking at Li You's serious expression, they knew that this matter could not be slacked off, otherwise, not to mention their positions, something might happen to them.

"In addition, you should participate more in affordable housing or urban renewal projects supported by local governments, and get the policy subsidies and stable cash flow that local governments can obtain," Li You said non-stop, "There are also a large number of low-priced foreclosed houses. After buying them, start clearing out the people. If you can't clear them out, contact Cui Douri and ask him to send someone to help you clear them out."

Li You looked around at the management. He had only met some of them once or twice. They were newly recruited excellent executives. "This is the housing sector. In addition, we will start to reduce high-risk investments, suspend the expansion of commercial real estate, and give priority to disposing of non-performing assets to avoid a liquidity crisis due to the depreciation of collateral."

"We also reduced investment in high-risk derivatives, cleaned up subprime loans, and tried to recover loans in advance."

"I still say that if you can't solve a problem, find someone to solve it for me no matter what method you use."

Li You did not ask for the content of this meeting to be kept confidential, and it soon spread out, attracting the attention of many people on the Korean Peninsula.

These actions are really too outrageous.

By implementing policies by industry, we can improve logistics efficiency, reduce orders, lower real estate risks, etc., and then coordinate the group, including cash flow management, innovation investment in Kinmen Electronics, and logistics supply chain coordination. This is so wrong.

Because normally, these are a series of measures that companies standing on the edge of a cliff and facing a major crisis will take. In this way, companies can reduce costs and stabilize core businesses during the crisis, and reserve technical capabilities and market resources for recovery.

But the Kinmen Group is now thriving, and no one can figure out what Li You’s arrangements mean.

Could it be that there was a big problem within the Kinmen Group, forcing Li You to make these arrangements?

For a time, even some employees within the group began to believe it.

Li You didn't care much about these things.

What is fake cannot be true, and what is true cannot be false.

Li You remained silent. He just worked throughout January and even stayed at home for a long time.

At the same time, Daying Group officially took action against Daying Ocean, and the reforms carried out by Kinmen Group became less eye-catching.

"President Nim~~~~"

Ding Qing walked in with dark circles under his eyes, "I'm really exhausted these days."

Li You looked up at him. Half a month ago, Ding Qing submitted to him a plan for specific measures for Kinmen Trade to deal with the financial crisis.

Overall, everything was carried out in accordance with Li You’s arrangements at the time, such as optimizing operations and adjusting market focus.

We also controlled costs, streamlined redundant transportation routes, improved warehousing and distribution efficiency, postponed non-essential fixed asset investments, and prioritized maintaining the core logistics network.

And the most important thing is the trade cooperation with several Chinese companies.

You should know that last year the trade volume between China and South Korea reached 100 billion US dollars, and China is also South Korea's largest trading partner.

There is no doubt that the market is huge.

China's manufacturing industry is also growing rapidly, giving rise to the demand for efficient logistics, especially in the fields of electronic products, auto parts, chemicals, etc.

For example, the future mobile phone produced by Kinmen Electronics has already opened a foundry in China.

In order to circumvent foreign investment restrictions and utilize the local resources of Chinese partners, such as warehousing networks and policy relationships, Ding Qing worked hard for half a month. In addition, with Ding Qing's Chinese identity, he finally succeeded in establishing several joint ventures.

These companies are basically large companies located in the Yangtze River Delta and Bohai Rim regions. Their shareholding ratio is controlled between 50% and 75%, and they retain technical and management dominance.

It is a window period for China's policy opening up, and bringing technology here and expanding the market is a win-win situation.

In addition, we have signed various cross-border transportation agreements with local Chinese logistics companies, opened fixed-point direct routes, and shortened the time of cross-border transportation.

In addition, bonded warehouses have been established in Qingdao and Shanghai Free Trade Zones to provide temporary storage, sorting, labeling and other services, further reducing tariff costs on the Korean Peninsula.

In short, try your best to reduce costs.

But he did not save on things that should not be saved. Li You knew very well how simple it was to express friendliness and respect in this era. When it came to hiring a bilingual management team and building trust with customers and the government, he spent money when necessary and gave gifts when necessary, all in full accordance with the rules.

Throughout January, Li You ignored the fierce Daying Ocean dispute in Busan and devoted himself to the Kinmen Group.

(End of this chapter)