Silence, there was silence in the conference room.
"I will never allow this situation to continue. Samsung Group will surely rise in my hands. As the most dangerous enemy, the Wang Consortium, I hope you will treat it as your biggest opponent, knock it down, and defeat it."
, trample it hard under your feet."
Chairman Li Jianxi's loud voice echoed throughout the venue, giving encouragement to his subordinates.
But,
After Balabala talked for a long time, there was still silence in the conference room. The senior cadres were thinking deeply with their brows furrowed, maybe they had already drifted away.
It's easy to say, if you can kill your opponents with words alone, when the financial crisis hits, Han Bangzi will not have 11 chaebols go bankrupt and liquidated.
Everyone at the top of the chaebol circle knows everything about each other. When the financial crisis hits hard, everyone is walking on thin ice, struggling on the edge of life and death. Life is not easy.
At this time, it’s really ridiculous to talk about killing your opponent!
1997
As one of the five largest conglomerates in the country, Samsung Consortium is tied with Hyundai Consortium, Daewoo Consortium, LG Consortium, and SK Consortium. Their strength is about equal, and they have not shown the potential to dominate.
In fact, Hyundai Consortium and Daewoo Consortium are stronger, and Samsung Consortium can barely rank third.
Daewoo Consortium, which ranks second and is more powerful, went bankrupt under the violent financial turmoil. How can the other four major consortiums fare better?
If it weren't for the Korean government's top-notch support and focused support, even if it didn't hesitate to risk the country's fortunes, life for the Samsung Consortium wouldn't be much easier now.
At the end of 1997,
The entire Samsung Group has total assets of 17.04 billion U.S. dollars, achieved sales of 10.17 billion U.S. dollars, and a pitiful net profit of only 177 million U.S. dollars. The debt ratio is as high as 132.6%, relying entirely on a large amount of bank loans.
The situation of other Korean-funded consortiums is similar. They are all burdened with heavy bank debts and their debt ratios are astonishingly high. The lowest is no less than 97%, which has already far exceeded the warning line.
In 1996, Samsung Group's profits were as high as US$3.56 billion, and its huge debt did not seem fatal.
But now that the financial crisis has hit, the risks of high debt ratios have been sharply magnified. It is not an exaggeration to say that we are standing on the edge of a cliff. Once a financial crisis breaks out in the banking industry and has a chain reaction, a large number of consortiums will collapse.
The consequences...are too terrible!
The so-called financial crisis is nothing more than a sharp collapse in market confidence, a massive flight of foreign capital, resulting in an extremely weak local currency, and heavy debt risks that suddenly emerged, crushing outstanding companies that borrowed money to develop one after another.
There is less money in the market, interest rates are higher, and debt risks are sharply amplified, creating a chain reaction. If all of this cannot be curbed, it will have catastrophic consequences.
If the prosperity continues for another two years, the Daewoo Group and the Kia Group can eliminate a large amount of debt by relying on profits, and may not be able to develop into world-class companies and occupy a place in the world market.
The harsh reality is that the Daewoo Consortium and the Kia Consortium collapsed one after another in the financial turmoil, leaving behind a fragment of ruins.
After experiencing the glory, looking back on the past, it seems that there is a huge difference between heaven and earth.
Today, most companies under Samsung Group are trembling in the financial crisis, and survival is their biggest desire.
At this time, I still hope to defeat my competitors...
hehe!
It's nothing more than a fool's dream.
Chairman Li Jianxi stared at everyone with hatred, his tone full of vicissitudes of life: "What's wrong, why don't you say anything? Don't you have the confidence to defeat a powerful opponent?"
Damn it, I can kill an old guy like you, so what can I do to fight with others?
Samsung Electronics President Song Changwook expressed his position in desperation;
"Chairman, we at Samsung Electronics are united and determined to fight against this brutal market baptism, stand out in the final competition, and defeat all powerful opponents.
Because we have the strong leadership of our chairman, and everyone at Samsung Electronics has the confidence to win, we are stronger, more substantial, and more effective than our enemies in the spiritual field.
Looking back at the past, we have come a long way, gritted our teeth and bought dozens of powerful memory manufacturers such as Fujitsu Co., Ltd., a major Japanese manufacturer.
Victory relies on Han Bangzi's unyielding spirit and his invincible belief in fighting to the death.
Today, we will embark on a more difficult road again.
Face the enemy who is armed to the teeth and rush forward to fight bravely. Use your teeth, fists, and belief in victory to tear the enemy apart and win the final victory."
President Song Changxu's remarks were of no use at all. They only highlighted the role of spiritual power, and there was no trace of any actually useful solutions.
But this just scratched Chairman Li Jianxi's itch, and he nodded approvingly.
"This is a great thing to say. You must know that behind Samsung Electronics, there is the full support of the group company, the full help of the banking industry, and the strong support of the government. We are not alone.
The Korean nation is the most united nation in the world, the most self-reliant nation, and the most capable nation in fighting. We are not afraid of any powerful enemy, and the belief in victory is the most important.
This financial crisis has given us deep thinking: Where will Samsung Group go?
Samsung Group is large but not strong. It has many subsidiaries but only a few are globally competitive. This poses a serious problem to the group leaders;
Is a radical overhaul needed?
This is a new start-up for the group, and we will undergo a painful transformation..."
The president's countermeasures meeting lasted until late at night. The lone light of Samsung Tower was tenaciously lit in the thick night, illuminating the winding road ahead, symbolizing Han Bangzi's unyielding spirit.
At the crossroads of historical opportunities, taking the lead means taking the lead step by step.
Today, in this different historical time and space.
The Wang Consortium came out of nowhere to seize the historical opportunity belonging to Samsung Group. Samsung Electronics has gone on a more difficult and tortuous road than in history. It is a road full of hardships.
Think back to a few years ago
Relying on government support, Samsung Group has endured the bloody baptism of the international memory chip market and suffered losses of billions of dollars. After several years of hard work, it has learned its joys and sorrows.
In the end, dozens of memory chip manufacturers were eliminated, including the powerful Japanese manufacturer Fujitsu Co., Ltd., ushering in the final victory.
The number of manufacturers in the international memory chip market has halved from more than 40 to less than 20 today, ushering in a round of market reshuffle.
While Samsung Group is enjoying the dividends of rising memory chip prices, Atlantic Wafer Technology Group has come out to grab the food at this time and enjoy the gains. It has grown rapidly during the three-year dividend period and has become a strong opponent that cannot be ignored.
.
Is it because Samsung Group cannot see the danger?
No.
Samsung Group is also in a period of running out of fuel and urgently needs a period of stable dividends to recuperate and recuperate, so as to replenish the energy of the group company and strengthen its muscles and bones so that it can fight again.
Unless you don’t want to fight, you really can’t fight.
If you continue to do this, you will be ****, so why talk about seizing the international market?
What Samsung Group Chairman Lee Kun-hee doesn’t know is;
Wang Yaocheng has been keeping a close eye on the Samsung Group from the beginning. Over the years, he has deliberately collected detailed economic intelligence. The one he has studied the most is the Samsung Group, including its main company Samsung Electronics.
There is a saying that is a wise saying;
The person who knows the enemy best must be his competitor.