America: My Time

Chapter 1240 Daewoo's Compromise

Chapter 1230 Daewoo's Compromise

"Mr. Kim, what have you decided? What are your requirements for the acquisition?" John smiled calmly upon seeing Kim Woo-jung and went straight to the point. There was no need for pretense at this point; the other party already knew his intentions, and doing too much would only invite contempt.
"Mr. John, do you really have such a low opinion of Daewoo Group? Do you really not believe I can turn things around, change the current situation, and make Daewoo Group rise against the trend?" Kim Woo-chung didn't accept John's statement directly, but instead asked him in return!

Upon hearing this, John sneered and said, "Heh, Mr. Kim, how can you say such a thing? Don't think I'm pessimistic about Daewoo Group; anyone with a discerning eye wouldn't. Your massive debt is enough to crush Daewoo Group. If you don't accept the acquisition and gain capital to turn things around, I'm afraid it won't be long before Daewoo Group collapses and goes bankrupt. Selling Daewoo Shipbuilding and Daewoo Motors is the best option for you. Although it will severely damage Daewoo Group, you can preserve your other assets. Otherwise, only destruction awaits you!"

“Mr. John, can’t we ask the bank for help? And even if we sell, it seems like you’re not the only one who can buy it, right?” Kim Woo-jung didn’t want to give up so easily. He continued to confront John, not wanting to be led by the nose by John. He wanted to take the initiative instead of passively accepting John’s offer to buy it!

"Of course, you could, but which banks do you think would dare to support you at this time? It seems the Korean government is already struggling. Do you think other banks would step in? This is during a financial crisis. Which bank would dare to make such a crazy move? Tell me, I'd like to hear it too, and I also want such a good deal! As for the acquisition, others might be interested, but during a financial crisis, no one will make a move. They'll only wait for Daewoo Group to go bankrupt and be liquidated before they act. At that time, you'll lose everything, while the other party can get everything they want at minimal cost. The entire Daewoo Group will be broken up and sold off. Not only will you not be able to protect your own wealth, but you'll also be burdened with huge debts!"

As John said this, a mocking look appeared on his face, which he did not try to hide. Since Kim Woo-jung had not yet figured out the situation, he did not need to save face for him. If he insisted on continuing, he could wait, but at that time he would not only be able to plunder Daewoo Shipbuilding and Daewoo Motors.

Seeing the mocking look on John's face, Kim Woo-jung sighed and realized that he had been completely defeated in this contest. He had no chance of winning. Everything was just as John had said. He couldn't afford to wait, and neither could the Daewoo Group. Without financial support, the Daewoo Group would face bankruptcy and liquidation!

“Mr. John, it’s not that I don’t want to sell, but even if I agree, you can’t possibly acquire it. The authorities won’t allow it. You should know how important the Daewoo Group is to South Korea, and how important Daewoo Shipbuilding is to South Korea!”

"I know, I understand everything you're saying. You think that if I'm so determined to acquire Daewoo Shipbuilding and Daewoo Motors, how could I be completely unprepared and unaware of all this? Don't worry, as long as you agree to the sale and my acquisition, I'll handle things with the Korean authorities. If they don't agree, things wouldn't be like this now. You seem to have forgotten my other identity. If it really comes to that, I believe it's something no one wants to see!"

John's threat was a blatant warning to Kim Woo-jung, a direct warning through Kim to the South Korean government and its chaebols that angering him would have consequences they couldn't afford. Soros alone had already inflicted enormous damage on South Korea; if John were to join in and push things along, South Korea's fate would be even worse, and the price they paid would be far more staggering!
John's reputation in the financial world is unmatched by Soros. John's reputation was earned through his track record. Not only could the Koreans not resist him, but even the Japanese would not be able to withstand him. The reason why Japan accepted John's acquisition so cleanly and decisively, and why 'Seishin Bank' emerged, was because they were afraid of angering John. This Wall Street giant would take the opportunity to attack Japan and make Japan pay a heavy price.

Although John didn't fight on the front lines during the Asian financial crisis, no country dared to underestimate his influence. Japan was a prime example. Those countries weren't just drawn by the benefits of 'Seijin Bank,' but more so by the intimidating presence of John as a Wall Street tycoon, which forced them to accept his influence!
Compared to those guys from Japan, Kim Woo-jung clearly doesn't understand the situation, and neither do these guys from South Korea; otherwise, this situation wouldn't have arisen, and this exchange wouldn't have happened.

“Mr. John is indeed very straightforward. What you said makes a lot of sense. We really have no way out. As long as the price is right, I have no problem. Daewoo Group is ready to cooperate with your acquisition at any time without any resistance. I believe that with your strength and reputation, you can completely take control of Daewoo Shipbuilding and Daewoo Motors in a short period of time and turn the current situation around!” As he said this, Kim Woo-jung couldn’t help but sigh, a faint trace of disappointment flashing in his eyes. Daewoo Shipbuilding and Daewoo Motors were among the most core assets of Daewoo Group. Selling them like this was really hard for him. But under the current circumstances, he had no choice. If he didn’t sell, Daewoo Group would face bankruptcy and liquidation, and he would be burdened with huge debts. Selling them would give him a glimmer of hope, and Daewoo Group could still turn things around.

Seeing Kim Woo-jung's change in expression, John smiled calmly and said, "Mr. Kim, you don't need to be so upset. This isn't something you could have prevented. You didn't expect such a financial crisis to occur. Even if you sell Daewoo Shipbuilding and Daewoo Motors, you can diversify into other industries. The Daewoo Group isn't just about Daewoo Shipbuilding and Daewoo Motors; it can handle electronics, chemicals, communications, and more. The Daewoo Group is quite powerful. If you lack development funds, you can sell Daewoo Heavy Industries as well; I can acquire it all. If you need help, I can also provide some support in retail!"

Upon hearing John's words, Kim Woo-jung sighed again. John had been right. Even selling Daewoo Shipbuilding and Daewoo Motors wouldn't be enough to revive the Daewoo Group. More funds were needed. However, selling Daewoo Heavy Industries was something Kim Woo-jung was reluctant to do!
"You have to give up something to gain something. If you give up development because of Daewoo Heavy Industries, that's not the way of a wise person. Besides, what's the use of keeping Daewoo Heavy Industries if Daewoo Shipbuilding and Daewoo Motors are gone? You should know that after the acquisition, Daewoo Shipbuilding and Daewoo Motors will not cooperate with Daewoo Heavy Industries in procurement."

John is right about this. Bentley Motors and Gulfstream Aerospace both have their own engines and don't need to cooperate with Daewoo Heavy Industries. As for other companies, they don't need Daewoo Heavy Industries either. It can be said that selling Daewoo Motors and Daewoo Shipbuilding is also a major blow to Daewoo Heavy Industries.

At this moment, Lee Boo-jin's heart stirred, and she immediately understood everything. Initially, John only asked her to inquire about the acquisition of Daewoo Shipbuilding and Daewoo Motors, without mentioning Daewoo Heavy Industries. It wasn't that he didn't want to acquire them, but that he couldn't bring it up. Only when Kim Woo-joong agreed to sell the two major heavy industry companies could he bring up Daewoo Heavy Industries and have any hope of acquisition. If he wanted to acquire all three at once from the beginning, Kim Woo-joong would never have given him a chance.

Now that John has laid everything out in the open, Kim Woo-jung has no choice but to accept it. Without Daewoo Shipbuilding and Daewoo Motors, keeping Daewoo Heavy Industries would only be a burden. It would be better to sell them directly to raise enough funds to turn the Daewoo Group around, get out of its predicament, and get rid of all the pressure!

“Mr. John is truly brilliant. I agree to your proposal. As long as the price is reasonable, I will not refuse. Moreover, I will take the initiative to explain to the authorities and will not put you in a difficult position!” At this moment, the disappointment in Kim Woo-jung’s eyes was no longer there, but a renewed determination.

John naturally wouldn't refuse Kim Woo-jung's offer, nodding and saying, "Then I'll leave it to Mr. Kim. I believe the South Korean authorities won't let me down, after all, they're already struggling themselves. If they disagree, you can ask them to take over these companies in exchange for funds to develop other industries. You can't possibly give up your own interests and suffer losses, or even take on huge debts, just because they refuse. There's no reason for that!"

“I will. If the authorities refuse, then they will have to take over. Just as you said, Daewoo Group needs funds to get out of trouble. Selling assets is the best option. If it drags on any longer, the entire Daewoo Group will collapse and go bankrupt. I believe the authorities will see this and won't make things difficult for me or Daewoo Group!”

"I hope so. If they don't accept it, then we'll have to resort to other means. If that happens, it won't be good for anyone. I hope the worst doesn't happen. I don't want to see that happen either. I'm a peace-loving person and don't want to resort to those methods!" John shook his head, a faint hint of murderous intent in his eyes. This was John's way of intimidating the Koreans. If things really turned out the way he didn't want to see, then they couldn't blame him for being ruthless!
(End of this chapter)