Chapter 275 Bai Fumei
The development and current scale of CJ Group have begun to approach the first tier of South Korea, but this is only approaching. Although CJ is a large group, there are still fundamental differences compared with those family businesses in the first tier of South Korea.
The gap can be seen from a simple comparison of the data. For example, Samsung's first-quarter net profit reached 4 trillion won, while CJ Group's first-quarter turnover only reached 1.8 trillion won.
One is net profit and the other is turnover. Regardless of the authenticity of the numbers, the difference between the two can be seen.
In fact, most Koreans know that CJ became independent from Samsung, and the current chairman is also a direct descendant of the Lee family. Many people believe that there are many other relationships between the two, but in fact, Samsung and CJ really don’t have much to do with each other, because CJ’s independence was achieved through the exchange of shares of Samsung Fire & Casualty Insurance owned by the mother of the current chairman, Lee Jae-hyun.
Samsung Group is the largest business group in South Korea. The founding chairman Lee Byung-chul took great pains to divide the property after his death. From the 1970s to more than a decade before his death, Lee Byung-chul was conceiving and handling the inheritance structure of the property. The eldest daughter Lee In-hee inherited the Koryo Hospital, Jeonju Paper, Shilla Hotel and other industries, the second son Lee Chang-hee inherited the First Chemical Fiber, and the youngest daughter Lee Myung-hee inherited the Shinsegae Department Store and Chosun Hotel.
Samsung's main subsidiaries, Samsung C&T, Samsung Electronics and Cheil Industries, were inherited by the third son Lee Kun-hee, who was designated as the heir.
Although Lee Byung-chul did not give any property to his eldest son Lee Maeng-hee, he gave his wife Son Bok-nam shares of Samsung Fire & Casualty Insurance. Later, when the Samsung Group underwent structural adjustments and CJ became independent from Samsung, these shares of Son Bok-nam were exchanged with Samsung, and Son Bok-nam and Lee Maeng-hee's eldest son Lee Jae-hyun successfully became the president of CJ Group.
In fact, if we look at it now, the biggest beneficiary after the division of the estate is Lee Kun-hee, and Lee Maeng-hee, who got nothing, is full of resentment. The eldest son went to China for recuperation many years ago. Although he was helpless, as the eldest son of Samsung, he did not have an industry that truly belonged to him in Korea . If it were not for his son getting CJ and developing it, he would not even have the mood to recuperate.
The Samsung family has wide-ranging ties, but very few of them are actually able to truly become independent, just like Lee In-hee's Shilla Hotel, which eventually became a cross-holding situation.
Perhaps CJ was completely separated from the share exchange because Lee Mengxi was the eldest son, so it cannot be said that Lee Mengxi got nothing.
Although CJ is not as big as Samsung, it is still a super-large enterprise except for the top ten chaebols in South Korea. As the head of the family, Lee Jae-hyun certainly does not envy Samsung. After all, the head of Samsung is Lee Kun-hee now, and the others can only take over after he dies.
CJ has a wide range of businesses, but since the end of the 2000s, when South Korea determined the direction of cultural strategic development, CJ quickly invested in it. CJ Network is not actually a large-scale game development company. It started with Internet cafe operations, and then game agency and development. In fact, the development is not as large as imagined. It is just one of CJ's many subsidiaries.
In the CJ Network executive office, Lee Jae-hyun's second daughter, Lee Yoo-mi, listened to the report from the head of the publicity planning department and nodded, asking him to continue to follow up on the acquisition.
The 23-year-old Lee Yoomi is a typical second-generation chaebol born with a silver spoon in her mouth. With perfect looks and a wealthy family background, plus the existence of an older brother, she does not have to worry about the trouble of family inheritance in the future. In addition, Lee Jae-hyun does not have too many ideas of favoring boys over girls, so the arrangements for his daughter are not rigid, and of course she can't do everything.
Finally, after his daughter graduated, Lee Jae-hyun let her choose which CJ company she wanted to join for training. After much deliberation, Lee Yoomi, who didn't like the workplace very much, chose CJ Network.
It’s not that she likes games and Internet cafe management very much... but she is very clear that CJ now has many entertainment industries, but they are all very scattered. Of course, there is also the reason that the development scale of each company is different, but the company has had plans for mergers for a long time. Li Youmei has no interest in the workplace, and her ideas are typical second-generation ideas. She wants to eat, drink, play, shop, travel, and do whatever she likes. It would be perfect if she could live a carefree life.
But unfortunately, although Lee Jae-hyun does not have a strong preference for boys over girls and even entrusted CJ shares to his son and daughter at the same value, he will not allow his daughter to live such a dissolute life, even if she will not inherit the company in the future.
Since you don't want to continue your studies, then just work for me. Li Roumei has no way to go against her father's wishes at this time.
Lee Yoomi looks very beautiful in a black OL outfit, but because she is still very young, her pretty face still has some youthfulness. She is considered the most special one in CJ Network. Although her position is a managing director, even the president will smile involuntarily when he sees her, and his smile is a little nervous.
Because in this company, Lee Yoo Mi holds 23% of the shares, his brother holds 11%, and CJ Holdings holds 24%. The two of them hold more than 37% of the shares, which is rare in the CJ industry. In addition, CJ Holdings holds 20%. The current head of CJ is Lee Jae Hyun. Everyone in the company knows what this means.
In fact, Lee Yoomi has no shares in this company. At the beginning, her brother held 38% of the shares alone, because this company was jointly established by Lee Yoomi's brother with his own funds and investment from CJ Group. After it got better, based on some business operations, he exchanged shares with many companies and also sold some of them. For example, he attracted some second-generation or collateral investments from other chaebol families and transferred their shares. Because it had not been listed yet, Lee Yoomi's family held a large proportion of the shares, and finally it became this situation.
But Lee Yoomi's brother actually doesn't want to sell his shares. For him, this is the industry he wants to invest in, but unfortunately, he is indeed very capable, and Lee Jae-hyun also hopes that he will enter the core management of CJ. This is to prepare for future promotion and experience, rather than working in a subsidiary for decades.
In desperation, Li Roumei's brother Li Yongqi asked his sister to take over the company when she graduated. Rather than letting someone else grow the company, he would rather let his sister fail...
Although this sentence made Lee Yoomi smash the phone on his forehead, Lee Yoomi still agreed to her brother's request, so Lee Yoomi came to this company later, and Li Yongqi also transferred most of the shares to his sister.
So to put it bluntly, Lee Yoo Mi is the emperor of this company, but fortunately, she basically does not interfere in the company's operations, which is also something the current president is thankful for.
However, this president is actually not worthy of the title, because he was arranged by the CJ Group, and of course other shareholders did not object. If Li Roumei and her siblings objected and joined forces with some other shareholders, the president would probably have to be replaced immediately.
But such a situation is basically impossible to happen.
Li Roumei looked at the document on the screen and scratched her hair frantically, making her smooth long black hair a little messy.
Then she reached for the phone next to her with her right hand, selected a contact, and dialed the number.
"beep!"
"beep!"
"Hello, Roumi?"
"Aunt, the thing you asked me to do has been basically negotiated. Both of those DcarModel guys are interested in selling. I estimate that we should be able to get it within half a month!" Li Roumei rested her head on her left hand, leaned on the desk, kicked her high heels aside, and then sat cross-legged on the chair. Her previous mature and beautiful temperament disappeared instantly. She looked a little lazy and sexy, and a little unfamiliar. The fatigue on her face was like that of a new employee who had just graduated and entered the society. However, the two are essentially different.
"That's great. I'll leave this matter to you. You must keep it a secret for me, okay? Don't tell anyone, especially me, absolutely not!" The woman's voice on the phone was sincere and serious.
Li Roumei leaned over and said tiredly, "Aunt, what's so special about that company? I really don't understand why you want me to do this, but... I like the feeling of spending money. Anyway, there's too much money to spend, so it's nice to play with investment!"
The woman on the other end of the phone was speechless. Should she say that she has money and can do whatever she wants?
"Remember, after the acquisition, you have to give up that amount of shares in a natural way. Will there be any problems on the company's side?"
"No, don't you know how to do business? Although I'm meeting with two people, I will only buy the shares held by one person in my personal name, and the remaining one still needs to go to the second shareholder, right? But aunt, that uncle named Li Zaiyuan looks very ordinary. Why do you want to help him?"
"Who said I was...Okay, thank you for this time, don't worry, it will only take a year, it will be fine in a year, after a year you won't have to help me investigate anymore!"
"Okay, but it doesn't matter to me. I'm usually free anyway, so it's nice to be able to help my aunt do something. But I still can't understand why my aunt cares about a credit company. And that uncle with glasses is weird. I think the president of their company is quite handsome!"
"Roumei, I told you not to talk about this anymore. Have you forgotten this again?"
"Okay, okay, I get it, but how is my aunt's entry into Samsung's management going? I heard from my brother that there's a big fight going on at my aunt's house. Doesn't agree?"
"They are just minor issues. I joined the financial department of Samsung Electronics headquarters half a month ago and have been working there, so we won't be able to see each other often in the near future!"
"Ah, then no one will go shopping with me? Oh, my aunt is really something. I don't have to work. I have hundreds of millions of dollars in shares. If it were me, I would ignore my father's arrangement and run away to travel abroad!"
"That's just because you haven't grown up yet and always want to play. Okay, I'm going to exercise. But before I hang up, I remind you again, never tell anyone about what I asked you to do. Remember... Never!"
