Chapter 35. Chairman of Yuseong Group (5)

As soon as Chairman Yoo Jae-ho made the decision to acquire, Yuseong Electronics' M&A department sprang into action.

Vice Chairman Kwon Hyuk-jun, along with his staff, headed to Dongwoo Precision to inspect the production facilities and research labs.

He was the one who had led the semiconductor super-gap strategy after joining Yuseong Semiconductor Research Institute as a researcher. Thanks to his efforts and passion, it was no exaggeration to say that Yuseong Electronics had achieved the top position in the global memory semiconductor market.

Even in his 70s, Vice Chairman Kwon Hyuk-jun continued to actively engage in research and development and the cultivation of young talent, and Chairman Yoo Jae-ho held him in deep respect.

That's why when the phone rang, Chairman Yoo Jae-ho, despite being in a meeting, stood up and immediately answered it.

"Yes, Vice Chairman Kwon."

[Did you know about it?]

Chairman Yoo Jae-ho was taken aback and asked.

"Know about what?"

[Dongwoo Precision. After a more detailed investigation, it seems that China has been playing tricks.]

"Playing tricks?"

[The rapid wear of the stamps was a known issue, but it could have been detected in advance. It was the YMCT side that pressured for immediate delivery of the prototypes.]

Hearing this, Chairman Yoo Jae-ho felt a shock as if he had been hit on the head.

'Could they have deliberately caused the loss to push Dongwoo Precision into crisis?'

Why would they go to such lengths to acquire Dongwoo Precision?

Vice Chairman Kwon Hyuk-jun explained the reason.

[When I first heard that you had decided, I was puzzled, but after inspecting it myself, I understand why. The technology in the lithography equipment is quite advanced. If Dongwoo Precision had fallen into Chinese hands, the technology gap would have significantly narrowed. In the worst case, Yuseong Electronics might have had to catch up with Chinese semiconductors in a few years.]

"Is it that serious?"

He found it hard to believe even as he listened.

Could Dongwoo Precision really be that valuable?

[Yes. We always thought that EUV was the only option for fine processes and that NIL was impossible. But after seeing the technology and talking to the researchers, I think it might be possible.]

Yoo Jae-ho was astonished.

"Is that really true?"

The difference between 'impossible' and 'possible' is vast.

'Impossible' means it can't be done no matter what, but 'possible' means it can be achieved with enough money and time.

Vice Chairman Kwon Hyuk-jun, who was usually cautious and never showed his emotions, now sounded as excited as a child.

[Having found a clue to solving a difficult problem, I will make sure it is used in Yuseong Electronics' foundry before I retire.]

"Thank you very much."

After the call ended, Yoo Jae-ho muttered to himself.

"Who would have thought that company was a nail in the coffin?"

If he hadn't heard the story that day, he wouldn't have cared whether Dongwoo Precision survived or not.

What would have happened if he hadn't heard it? Could a kingdom really fall because of a single nail?

In business, you meet various people. Some are helpful, and some are not.

And occasionally, you meet someone who can be considered a benefactor. Meeting such a person is difficult, and recognizing them is even harder.

But that person came to him on his own.

Yoo Jae-ho thought of the young man who came with Sung Yuna.

'Was it not a coincidence that he uncovered the Premus Fund scandal?'

He accurately assessed the value of Dongwoo Precision, which he himself didn't know. Thinking about this, he couldn't dismiss the things the young man had said.

'He suggested increasing foundry investments and acquiring fabless companies, right?'

* * *

Yang Jae-eun, the eldest daughter of DA Financial Group's Chairman Yang Hyun-sung, became extremely busy after the Premus scandal broke out.

One of her tasks was to clean up the mess left by the former executive Yang Jung-wook.

The Financial Services Commission (FSC) recommended that the distributors pay 70% of the victims' losses.

Technically, the distributors were also victims since they were not involved in the conspiracy with the fund manager. However, it was hard to avoid responsibility for inadequate supervision.

DA Securities followed the FSC's recommendation and paid 70% of the fund's principal, promising further compensation to manage public opinion.

Yang Jae-eun, who was scheduled to move to DA Bank after the Premus scandal subsided, had just finished an important group meeting and was heading to DA Securities' headquarters in Yeouido to have dinner with her daughter.

It was a rare opportunity to have dinner with her daughter.

As she got into the car, her daughter scolded her.

"You said you were going to the meeting place, so why did you come to the office to pick me up?"

"Since I'm going that way anyway, it's more convenient to go in one car."

"What about the other employees?"

"Everyone already knows, right?"

"Still, it's not common for parents to visit their children's company."

Yang Jae-eun nodded.

"Got it. I'll be more careful next time. What do you want to eat, my daughter?"

The dinner menu was a Korean set meal.

During the meal, Yang Jae-eun asked her daughter.

"How's work going?"

"It's the same."

"Any men you like?"

"No."

Yang Jae-eun thought of the man her daughter had been interested in. For a while, she talked about him non-stop at home.

"Have you been in touch with him?"

"Who?"

"Han Miro."

"Oh."

"He's a really remarkable person. He exposed the fund scandal and left the company without any regrets. I thought he would make some demands afterward, but he didn't."

"..."

He did make some demands, but they were quite unexpected.

"Mom, actually..."

Sung Yuna told her about what had happened in the meantime.

Throughout the story, Yang Jae-eun couldn't hide her surprise.

"After buying the junk bonds, he asked to meet Chairman Yoo Jae-ho?"

"Yes."

The rest of the story was even more absurd.

"He suggested acquiring Dongwoo Precision at the meeting with Chairman Yoo Jae-ho?"

"Yes."

This was completely out of the ordinary and a highly disrespectful act.

"Do you think mergers and acquisitions are a child's play? What if Chairman Yoo got angry?"

Yoo Jae-ho's influence in the business world is undeniable.

If he got angry, it could be disastrous, not just for the young man but for her as well.

Fortunately, he is known for his easy-going and forgiving nature. He would likely laugh it off even if he was somewhat displeased.

Yang Jae-eun scolded her daughter as if giving a lecture.

"You should have told me about this beforehand."

Sung Yuna pouted slightly.

"I didn't want to bother you since you're so busy."

"How did Chairman Yoo react?"

"He didn't seem upset. He even seemed amused."

She shook her head.

"You can't know what business people are thinking. They might smile in front of you and stab you in the back."

Hearing this, Sung Yuna started to worry.

'Is Miro okay?'

Yang Jae-eun, puzzled, asked.

"Why Dongwoo Precision, of all companies?"

"He said the technology is good and it won't go bankrupt easily."

"Really?"

"Yes. There's a rumor that a Singaporean company, XRT Semicon, might acquire it."

"That's not certain until it's decided."

Many deals fall through at the last minute.

"Whether it happens or not, the bond prices are rising. If you sell now, you could make double."

"Really?"

Picking out good bonds from a pile of bad ones is as difficult as winning the lottery. If it were easy, institutions wouldn't sell them at such low prices.

But...

Han Miro accurately uncovered the fund scandal that no one knew about.

'If he has that level of insight, he might be able to find a company that can survive among failing ones.'

It's not uncommon for someone to hit a big win by buying junk bonds.

During the conversation, Yang Jae-eun's phone rang. Her face turned pale when she saw the name on the screen.

Seeing this, Sung Yuna asked.

"What's wrong? Who is it?"

"Chairman Yoo Jae-ho."

"What? Really?"

Yang Jae-eun, surprised, thought to herself.

They had met several times at business gatherings and exchanged contact information, but they weren't close enough to call each other privately.

Why did he call out of the blue?

She answered the phone with trembling hands.

"Hello."

The other party spoke in a friendly tone.

[Hello, Executive. This is Yuseong Group's Yoo Jae-ho.]

"Yes, hello, Chairman. It's been a while. How have you been?"

[Can I have a moment of your time?]

"Of course."

After some casual conversation, Chairman Yoo said:

[Your daughter visited my company recently.]

'So it's about that!'

Yang Jae-eun was flustered but tried to be as cautious as possible.

"I was also surprised to hear about it."

[Your daughter is just like you, truly excellent.]

"Thank you."

'Is he being sarcastic?'

[Is your daughter with you now?]

"Yes."

[That's perfect. Can you put her on the phone?]

She wanted to pretend it never happened, but his insistence suggested he wasn't going to let it go easily.

Her daughter was a grown adult and should take responsibility for her actions.

"Understood."

She handed the phone to her daughter and whispered.

"Tell him you were wrong."

"Okay, got it."

Sung Yuna quickly took the call.

"Hello, Chairman. I should have apologized for the last time..."

[Apologize? Oh! I'm sorry for getting up first that day.]

Sung Yuna was surprised when she tried to apologize.

"What do you mean? I was the one who..."

[And I'm really grateful. Thanks to you, I received a lot of help. I won't forget this favor.]

"..."

Chairman Yoo continued.

[How about having dinner with your mother? If it's convenient, I'll arrange a meeting with Ahn Ae-mi.]

"Sure, any time is fine for me."

[And, do you have Han Miro's contact information?]

"Why? Why?"

'Is he going to call and yell at him?'

[To thank him and ask him a few questions.]

"Ah, yes. I'll send it to you by text."

After the call ended, Yang Jae-eun immediately asked her daughter.

"What did he say?"

Sung Yuna looked up and said.

"He said he was grateful."

"For what?"

"I'm not sure. And he asked for Miro's contact information."

"..."

"Really?"