Growth-type Super Rich-Chapter 470 - 295: The Sound of Money (Part 2)

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As the highest board meeting of the Group, the entire Samsung has also prepared for quite some time.

The entire meeting room was fully tested several days ago to ensure there were no surveillance or recording devices before it was put into use.

The meeting room is over a thousand square meters, with over three hundred management listening seats prepared besides the main meeting seats. In the very center are five chairman seats, reserved for the five directors with the highest shares in the board.

In more than ten minutes, all participants had ample time to prepare.

It was after Gu Bai, Clayville Kirk Morgan, Roland Rockefeller, and Lee Kun-hee entered that they streamed in through the four opened large doors, filling the spacious hall in just a few minutes.

Gu Bai, led by Lee Kun-hee, headed to the chairman seats.

"Director Gu, Director Clayville Kirk Morgan, Director Roland Rockefeller, please take your seats."

Lee Kun-hee invited the three with a smile.

The three did not stand on ceremony and sat down directly, with the central C-seat naturally reserved for Gu Bai. Even as the current Chairman of Samsung Group, Lee Kun-hee could only sit beside Roland Rockefeller at the edge.

Another seat, usually reserved for the Vice Chairman, was directly offered by Gu Bai without waiting for Lee Kun-hee to speak: "President Lee Boo-jin, please take this seat."

Lee Jae-yong, who had been waiting for them to sit down, was instantly dumbstruck upon hearing Gu Bai’s words, awkwardly standing aside.

Joy flashed across Lee Boo-jin’s face upon hearing Gu Bai, and she went straight up.

Clayville Kirk Morgan also stood up with a smile, giving her a gentleman’s gesture.

From Gu Bai’s attitude toward the father-son duo at the group’s entrance to now openly allowing Lee Boo-jin, a president of a subsidiary, to sit at the chairman seat, Lee Kun-hee had already understood Gu Bai’s meaning. Obviously, the matter of him lobbying some remaining visible directors and senior managers of the group has reached Gu Bai’s ears.

He was overly doting on Lee Jae-yong and underestimated Gu Bai’s patience with him.

But at this point, Lee Kun-hee had abandoned the idea of supporting Lee Jae-yong in competing for the Chairman position. Obviously, without Gu Bai’s support, Lee Jae-yong had not a shred of chance.

Upon this thought, Lee Kun-hee couldn’t help but sigh softly.

However, whether it’s Lee Jae-yong or Lee Boo-jin being elected as Chairman, it does not affect the Li Clan much—after all, one is the eldest daughter, one is the eldest son, it’s at most a family feud, the meat still rots in the pot.

Time slowly passed, reaching exactly 10 o’clock.

With the host of the meeting’s ascension, the Samsung Group’s highest board meeting officially began.

The Liu City was the summary of the first two quarters of 2018, reported by Samsung Group’s General President Liu Wenshi.

"From December 2017 to May 2018, operating profit of 35.2 trillion Korean won, an increase of 49.8% compared to the same period in the second half of 2017. The result exceeded market expectations and is the highest dual-quarter operating profit Samsung has created since 2013.

Samsung’s exceeding of profit expectations is attributable to the hot sales of OLED smartphone displays and semiconductor storage chips produced by Samsung Electronics, while the weakening won exchange rate also played a positive role in profitability.

From September of the previous year, there were safety problems shortly after the Samsung Galaxy Note 7 smartphone was launched, resulting in a recall and announcement of a production halt, with a loss of approximately 3 billion US Dollars, all of which have now been completely recouped in equivalent amount."

Although known as Samsung Group, Samsung’s biggest profit point lies within Samsung Electronics.

Liu Wenshi’s main report direction is also more biased towards Samsung Electronics.

Just some miscellaneous reports took more than an hour.

Throughout this time, Gu Bai didn’t take in much, instead casually chatting with Clayville Kirk Morgan and Roland Locke Rockefeller.

Not until applause filled the room did the three realize Liu Wenshi’s report had concluded, and they joined in clapping along.

"Next, please welcome the highest board chairman and the Group Chairman, Mr. Lee Kun-hee, to commence the first agenda."

After the host spoke, Lee Kun-hee stood up smilingly, slowly walking to the stage with his assistant’s help.

A lengthy greeting consumed several minutes before Lee Kun-hee slowly began: "Since I took over as Chairman of Samsung Group in 1987, it has now been a full 31 years.

I am very gratified that under my leadership, Samsung Group has not faced significant mistakes but rather has been gradually growing stronger, creating very good benefits for all directors over 31 years, providing Samsung’s 310,000 employees with stable income jobs.

However, human strength is finite. My age is getting on, and I’m not suitable to continue serving as Samsung Chairman. Therefore, I take this opportunity to announce my voluntary resignation from the position of President of the highest board and Group Chairman of Samsung Group."

Upon his declaration, the massive meeting hall was suddenly engulfed in discussions.

Lee Kun-hee has been Chairman of Samsung for 31 years, which is sufficient to prove his influence within Samsung. Now, suddenly announcing resignation without any signs is akin to casting a grenade upon the calm surface of Samsung, a ripple causing immense waves.

Observing the discussions below, Lee Kun-hee simply extended his hand, indicating: "Although I resign from the Chairman position, I will remain attentive to group affairs during my retirement until the trusted Chairman can fully take on this heavy responsibility, after which I will really withdraw."

The transfer of power inherently causes unease in situations.

Let alone a behemoth like Samsung Group.

With Goryeo’s population of 50 million, over 310,000 are working for Samsung, which means one in 170 Koreans is a Samsung Group employee. This kind of influence, if uncontrolled, poses not just a threat to Samsung, but a catastrophic blow to Goryeo as a whole.

After Lee Kun-hee finished speaking, he stood quietly on stage, waiting for the senior management below to finish their discussions.

Clayville Kirk Morgan also smiled at Gu Bai, "This old man is quite decisive, holding a high position for 31 years, stepping down just like that without any procrastination—no wonder Samsung Group can rank among the foremost in the World’s Top 500 under his leadership."

Gu Bai responded with a slight chuckle.

"Perhaps."

"But I’m more inclined to think he knows, even if he steps down, the Li Clan will still hold the superficial discourse power over Samsung. If the successor was Liu Wenshi, do you think he’d be equally relaxed?"

"The term ’superficial discourse power’ is well used, I like it. Those who truly control money never reveal themselves, yet the whole world serves them."

After the comment, Clayville Kirk Morgan and Gu Bai exchanged smiles.

As the discussion fell silent, Lee Kun-hee’s voice rose once more.

"The candidates for the Group Chairman this time are three.

The first is the former Vice Chairman of the Group, Lee Jae-yong.

The second is the former General President of the Group, Liu Wenshi.

The third is the President of the former subsidiary Shilla Hotel, Lee Boo-jin.

Next, we invite the three Chairman candidates to come up to the stage." 𝑓𝘳𝘦𝑒𝑤𝑒𝘣𝘯ℴ𝘷𝘦𝓁.𝑐𝑜𝑚

After saying this, Lee Kun-hee didn’t linger much longer, descending the stage slowly with assistance.

Meanwhile, Lee Jae-yong, Lee Boo-jin, and Liu Wenshi stood up almost simultaneously, making their way to the stage.

Despite a multitude of thoughts surging within each of them, their faces revealed no excessive expressions.

Lee Boo-jin was fearless due to Gu Bai’s backing, although by seniority, she as a subsidiary president didn’t even have the qualification to compete.

Liu Wenshi wasn’t nervous at all, fully aware he was merely there as a runner-up; the real Chairman position had to be selected among the Li Clan offspring, Lee Boo-jin and Lee Jae-yong. Otherwise, competing for the Chairman post with only the six ten-thousandths Group shares he held? Please don’t be ridiculous.

As for Lee Jae-yong, beyond grief and reluctance, there were hardly any other emotions he could muster.

In terms of capability, he was the strongest of the three.

In terms of status, as Lee Kun-hee’s eldest son, he was the most qualified to become Samsung’s Chairman.

Regarding hearts, having served as Samsung’s Vice Chairman for many years, he had already amassed a network of contacts.

Yet such a situation, where all favorable conditions seemingly aligned, actually bore no chance of success for himself.

And all of this arose from the simplest will of that young man seated at the chairman’s seat, engaging in friendly banter.