Korean TV series: King of Peninsula 1997

Chapter 691 Crisis
A drink cannot change the relationship between Zhao Taixie and Li You. After Li You rejected Zhao Taixie's request for a joint effort, Zhao Taixie could only do things his own way.

"President!" Kim Sung-jun's secretary found Kim Sung-jun anxiously.

Because he was restless, Jin Shengjun only slept for less than three hours last night. He was drowsy at the moment. The secretary's arrival woke him up from his trance. "What's wrong?"

The secretary put the document on Kim Sung-jun's desk. "This is the report on large stock holdings that the Financial Supervisory Commission and the Korea Exchange just issued."

Only those who own more than 5% of a company's shares need to submit a large stock holding report to the Financial Supervisory Commission.

Jin Shengjun opened the document and listened to the secretary's report, "JQ Construction's General Manager Jin Yongri suddenly bought a large amount of circulating Tianxia Holdings' shares."

"What?" Jin Shengjun's heart trembled and he looked up. "Five percent?"

"Yes."

Jin Shengjun closed the file nervously. "Isn't the father of Jin Yongjun of JQ Construction Jin Xixun, the chief prosecutor under Councillor Zhao? The financial situation of JQ Construction is not very good recently. What is the source of funds?"

"It's a loan from the National Bank."

“Kookmin Bank?” Jin Shengjun laughed in anger. “If they borrowed money from Kookmin Bank to buy up shares, then it’s not a good-faith holding.”

"Peninsula Bank now holds nearly 15% of the shares. I don't know whose trump card JQ Construction and National Bank were used, but this is already 20% of the shares. If it continues like this, the Tianxia Jin family may not be able to keep the management rights."

As the two were analyzing the possible culprit, someone else broke in again, without even having time to knock on the door.

The man trotted over to Jin Shengjun and said, "President."

"What happened again?" Jin Shengjun already had a hunch that he was being targeted.

"The National Tax Service's special tax investigation team has arrived at Tenka Heavy Industries."

Jin Shengjun felt like he was stabbed in the back. His face was gloomy. "Is it only Tianxia Heavy Industry, or are other subsidiaries also in the scope of the next step?"

"Only Tianxia Heavy Industry."

"Jo Tae-seop" Jin Shengjun rubbed his messy hair with both hands, "It must be Jo Tae-seop behind this."

"Because the incident happened suddenly, even the relevant departments were not aware of it."

Jin Shengjun slammed the table and said, "Okay!"

He squeezed his dark-rimmed eyes and said, "Ask the finance team to the conference room for a countermeasures meeting."

As soon as he said this, Jin Shengjun was startled, "That's not right."

"This is a signal from Zhao Taixie, asking me to find him..." Jin Shengjun moved his eyes to the document, "JQ Construction"

He gritted his teeth. Zhao Tae-seop wanted to slowly grab his collar.

"No. I must send out my signal as well." Although Jin Shengjun relies on Zhao Taixie and cooperates with him in everything, he also knows that he must not obey him, otherwise, why would he fight for Tianxia Group and might as well be a dog.

"Contact Peninsula Bank," Jin Shengjun clenched his fists, "We'll also take out a loan."

The secretary was somewhat alarmed by Jin Shengjun's actions, "What about the amount?"

"Three hundred billion."

"300 billion?" The secretary coughed. "Because Peninsula Bank was acquired, the Financial Supervisory Commission is also supervising corporate loans, so it's not easy to handle."

"It doesn't matter," Jin Shengjun said coldly, "Pledge some of Tianxia Heavy Industry's shares. As long as we satisfy Chairman Li's appetite, Peninsula Bank will clear the obstacles for us."

"But there are not many shares of Tianxia Holdings on the market. Even if 300 billion is used to purchase shares, I am afraid that it will not be able to acquire many."

"It doesn't matter," Jin Shengjun pointed his finger at JQ Construction, "Let's start with JQ Construction."

"We will force JQ Construction, which is in poor operating condition, to sell the shares of Tianxia Holdings that it bought with loans to us."

In less than two hours, a share pledge loan contract was passed from Tianxia Heavy Industry to Peninsula Bank, and then from Peninsula Bank to Li You.

"Tianxia Heavy Industry wants to borrow money from Peninsula Bank?" Li You smiled when he received the loan application. "Or it can be pledged as part of Tianxia Heavy Industry's shares."

Zhao Taixie stirred up trouble in the Jin family, and the chain reaction he created forced the three siblings of the Jin family to make a series of responses.

Kim Sung-jun might just be the first one to take action.

"This is what it feels like to reap the benefits of a good business." Li You nodded readily and handed the documents to President Park of Peninsula Bank who came over. "Just lend it to him. The shares of Tianxia Heavy Industry are good things."

"Yes."

In Zhao Taixie's private residence, he was calmly entertaining Jin Xiya in front of him.

"Ms. Xiya came very quickly today," Zhao Taixie poured tea for Jin Xiya as usual, "but Miss Xiya shouldn't be so anxious. I remember that Miss Xiya has secretly acquired back 3% of Tianxia Holdings' shares as I said, and is even acquiring more."

"Once something is brought out and spoken out, it's no longer a secret," Jin Xiya glanced at the tea and had no desire to drink it at all.

"Councilman Cho trusts Kim Young-il so much? This son of Chief Prosecutor Kim Seok-hoon doesn't have a very good reputation," Jin Xiya said expressionlessly, "He's suspected of corruption. Aren't you afraid that he will sell the shares of Tianxia Holdings at a high price to make money?"

"To be honest," Cho Tae-seop shook his head, "I don't trust him."

"That's true," Jin Xiya said with a hint of sarcasm, "People like Councillor Zhao probably won't trust other people either."

Zhao Taixie withdrew his gaze from the painting beside him and met Jin Xiya's eyes. The sarcasm in those eyes almost became real.

Zhao Taixie didn't feel any emotion in his heart. He just pointed at the tea in front of Jin Xiya and said slowly: "The tea is cold, Miss Xiya, please don't drink it."

Jin Xiya said coldly: "If you want to drink it, you won't let it get cold."

"Too."

“When will the shares held by JQ Construction be transferred to me?”

Zhao Taixie smiled and said, "Don't worry. But Miss Xiya needs to pay more attention and protect JQ construction so that it won't be snatched away by others."

"." Jin Xiya was silent for a while.

"I'm very curious about what Congressman Zhao is planning. Why is he suddenly cooperating with me and betraying my second brother?" Jin Xiya asked without any concealment, "Is Congressman Zhao implementing some vicious plan?" Zhao Taixie laughed and shook his head. He stood up without saying a word and went to trim the flowers and plants he was raising.

Jin Xiya narrowed her eyes, stopped asking questions, grabbed her bag and left.

It didn't take long for Zhao Taixie to put down the pruning shears, and his assistant Jin Zhenyu and secretary Han Zhixian also stood beside him.

"Did Kim Sung-jun make any moves?"

"Yes," Han Zhixian nodded and said, "Informants from Tianxia Heavy Industry and Peninsula Bank have sent news that Jin Shengjun has held a countermeasure meeting in Tianxia Heavy Industry to deal with the inspection by the National Tax Bureau. He is also preparing to borrow 300 billion won from Peninsula Bank. The purpose is currently unknown."

No matter how Zhao Taixie looked at the flowers and plants in front of him, he felt that they were not trimmed perfectly. He shook his head and said, "Since Jin Shengjun did not come to me the first time, it means that he has lost control. Moreover, there are not many Tianxia Holdings shares circulating in the market, so the reason why he borrowed 300 billion is very clear."

"It is nothing more than dealing with JQ Construction, which holds shares with bad intentions. JQ Construction will become the target of competition between the siblings."

Through this series of actions, Zhao Tae-seop wanted to fight for a chance of survival without having to submit to Li You. To be honest, Zhao Tae-seop still felt a little regretful. If the financial holding company he secretly set up had not been uprooted by Li You, he would not have to rely on others to achieve this goal, and he could have controlled more shares of Tianxia Holdings.

But all that was in the past. Now it was Li You who was benefiting from his actions, so Li You, who controlled the chessboard, gave him the opportunity to implement his plan.

Zhao Taixie knew that he didn't have many opportunities, so he could only take one step at a time.

As his current chess piece, Jin Xiya is undoubtedly unqualified, but there is nothing he can do about it.

After leaving Zhao Taixie's private residence, Jin Xiya went all the way to Tianxia Heavy Industry.

She waited in Kim Sung-jun's president's office for a long time before she saw Kim Sung-jun, who looked tired, push the door and walk in.

Jin Shengjun, who had just finished a countermeasures meeting, wanted to take a rest, but as soon as he entered the room, he saw an uninvited guest. He turned his head to look at his secretary, who had been accompanying him in the meeting and also had a confused look on his face.

Jin Shengjun sighed and waved his hand to let the secretary go out, "Close the door."

"What are you here for?"

"What am I here for..." Jin Xiya sat in Jin Shengjun's seat, "How do you feel today?"

Jin Shengjun reacted for a moment, then he gritted his teeth and said, "You and Zhao Taixie have joined forces? No wonder Zhao Taixie treated me like this. It seems that in his eyes, the title of president is more important."

Jin Xiya chuckled, "If it weren't for what you and Yongjun have been doing, I wouldn't have done anything."

"It doesn't matter," Jin Shengjun sneered, "We are not that easy to bully. What can Zhao Taixie do to him?"

The dirty things that Cho Tae-seop and Kim Sung-joon did together made their relationship very delicate.

As long as he doesn't die, Zhao Tae-seop can't do anything to him, even if they are rivals.

“Haha…” Jin Xiya also laughed: “Zhao Taixie is indeed incapable of doing anything, so why are you making such a big move?”

"Are you afraid of losing the management rights?" Jin Xiya said with a feeling of showing off her power. "Don't be afraid. I'm here. The Jin family will not lose the management rights of Tianxia Group."

"Do you think you can work well with Cho Tae-seop?" Jin Shengjun sneered, "Don't forget, he has already worked with the three of us."

"Of course I know," Jin Xiya suddenly put away her arrogant look and looked calm, "Do you think I came here just to show off to you?"

She looked at Kim Sung-jun for a while, and even made Kim Sung-jun feel uneasy. He suspected that Kim Hee-ya knew that he and Zhao Taixie were the ones who killed Kim Hee-ya's biological mother Liu Caiyan.

"Now that you have seen through Zhao Taixie's character, we can have a good talk," Jin Xiya sighed, "You should have known it earlier, and Yongjun should have known it earlier. No matter what, we are still siblings, and he is an outsider."

"He has cooperated with us many times. How could it be possible that he only wanted us to provide him with political funds? He just has his own ideas about the group."

Jin Shengjun looked strange, "Don't tell me that you are using this incident to let us see Zhao Taixie's true face?"

"That's part of the reason," Jin Xiya nodded, "but the more important thing is to keep the management rights of the three of us."

"Overseas investors hold 30 percent, all subsidiaries hold 20 percent, family funds hold 5 percent, Peninsula Bank holds 15 percent, and the National Pension Service of Korea holds 10 percent. These are long-term equity investments and cannot be sold in the secondary market."

"Besides, this is just rounding. In fact, there are less than 20% of domestic circulating shares left. These are the circulating shares circulating in the market in the hands of retail investors and other institutional investors," Jin Xiya flicked the document on the table.

"Then how many shares are actually controlled by the family? Only 5% is held by the family foundation."

"I hold the title of chairman, but only through this 5% of shares, plus the support of shareholders, can I control the subsidiary, and then through the shares held by the subsidiary, can I control Tianxia Group."

"These are the most basic business logics, I think you should understand."

Jin Shengjun nodded silently.

"Now JQ Construction has maliciously hoarded 5% of the outstanding shares. If we are not careful, our operating rights will be threatened."

"And you should know clearly that my father's will handed over several subsidiaries to you and Yongjun, and the shares of the group held by those subsidiaries were also controlled by you. You know how much the shares that I, as the chairman, can control have decreased."

Jin Xiya looked sad, "So what do you think Dad wants us to do?"

Jin Shengjun was silent for a long time. When Jin Xiya was a little disappointed, he slowly spoke, "Unity."

"Dad seems to be dividing us, but in fact he is forcing us to unite. Otherwise, if we lose the management rights, none of us will be able to become the real president."

But even though we know it, there are still too many things about Kim Sung-jun that we cannot explain.

For example, he and Zhao Taixie conspired to kill Liu Caiyan, and they also caused Jin Jianying to die one or two months earlier.

Even if he was coerced by Zhao Taixie, he couldn't explain these things to Jin Xiya.

Jin Xiya said calmly: "It is estimated that normal persuasion of the two of you will have no effect."

"This time, it was by chance that I had an idea when I was working with Cho Tae-seob..."

"Have you talked to Yongjun?" Jin Shengjun suddenly remembered Jin Yongjun, who had been missing for the past few days and had not participated in the fight between him and Jin Xiya. "What did he say?"

"I talked to my eldest brother on the phone." Jin Xiya hesitated, "He asked me to contact you first. He needs to think about it."

Jin Shengjun was stunned and a strange feeling arose in his heart.

Kim Young-jun did this
(End of this chapter)