Golden Spoon Investment Portfolio - Chapter 437

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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437. I sincerely hope this contract goes through as planned.

Inside the President’s Office, decorated with simple yet refined elegance to match the owner’s taste.
Seok-won sat before a wide L-shaped desk, his white dress shirt complemented by a silk necktie secured with a gold pin.
The desktop displayed multiple monitors crowded with complex graphs and figures as always, while sunlight streaming through the window accentuated the shadows across Seok-won’s prominent nose bridge and sharp eyes.
Seok-won leaned back against the plush chair, reviewing a thin bound booklet—the intelligence report Lee Chul-gyun sent him weekly.
Lee Chul-gyun, a former police intelligence officer now in Seok-won’s employ, collected, reviewed, filtered, and edited all manner of information spanning politics, economics, and even entertainment industry gossip before sending it like this.
What distinguished it from other private intelligence publications was that it existed solely for Seok-won’s eyes.
As Seok-won turned pages and carefully examined the contents, something caught his attention, and his brow furrowed slightly.

[Seoul Seed Company in Sales Negotiations with Swiss Multinational Corporation]

Seok-won tapped his fingertips lightly against the desk in contemplation, then reached over and picked up his phone set to the side.
He dialed the familiar number and brought it to his ear. A brief ringtone sounded, followed by Lee Chul-gyun’s voice.

[Yes. What is it?]

Seok-won spoke without taking his eyes off the intelligence report on his desk.

“Is it true that Seoul Seed Company is being sold to a foreign company?”
[Yes, sir. Sales negotiations are currently underway with Novartis, a Swiss chemical and agricultural materials multinational.]

Seoul Seed Company was a major seed company ranking fifth domestically by revenue and holding approximately two hundred seed patents.

“Has the sale been completely finalized?”
[Not entirely, but given Novartis’s aggressive approach, an agreement appears likely in the near future.]
“I see. So that’s how it stands.”

Seok-won stroked his cleanly shaven chin with one hand, organizing his thoughts, then spoke again.

“Can you obtain detailed information on how far the sales negotiations have progressed and what the terms are?”
[Of course.]
“Then find out as quickly as possible and report back to me.”
[Yes, understood.]

After ending the call, Seok-won set down his phone and murmured to himself in a slightly subdued tone.

“Now that I think about it, most of the domestic seed companies were sold off to foreign corporations back then.”

During the foreign exchange crisis, domestic seed companies unable to withstand the financial pressure were sold off to foreign corporations one after another, with Seoul Seed Company being the first to fall.
When four of the five major seed companies were sold off during this period, the domestic seed market effectively came under the control of foreign corporations.

“Koreans who want to cultivate and eat Cheongyang peppers now have to pay foreign corporations substantial sums regularly. There’s nothing more to say about it.”

The genetic resources of domestic vegetable seeds and breeding technology know-how that had been painstakingly accumulated over sixty years in harsh conditions were entirely transferred into the ownership of foreign corporations.

“And at ridiculously cheap prices in the chaos of the foreign exchange crisis, no less.”

Through the seed companies sold off in this manner, foreign corporations earned seed royalties exceeding 800 billion won over the ten years following the IMF crisis.
While this kind of capital flight was problematic, the truly serious issue was the possibility of completely losing seed sovereignty.
As global population increased and food security became increasingly critical, losing seed sovereignty was directly linked to national food security—a matter of paramount importance.

“Moreover, it’s a profitable business.”

As I mentioned earlier, if one could generate hundreds of billions of won in revenue from seed royalties alone, it was a business worth pursuing not only for patriotic reasons but also from a business perspective.

“It’s a business where you can reap sweet honey just by holding onto it. I can’t just stand by and watch it be stolen.”

Seok-won decided to acquire the seed companies that would otherwise be sold to foreign corporations himself.
Though negotiations for sales with other parties were already underway, I had absolute confidence that I would never lose in a bidding war.

“Let them try if they dare.”

* * *

Seoul Seed Company Headquarters in Yeoksam-dong, Seoul.

“Novartis has sent their final price.”

As Gu Ki-hoon, the executive director standing before him, set down the proposal, Gong Hyun-woo, president of Seoul Seed Company, asked with a troubled expression while remaining seated at his desk.

“How much did they offer?”
“32.67 million dollars.”
“Hmm.”

Upon hearing the amount, President Gong Hyun-woo inadvertently let out a low groan.
The thought of having to hand over the company—a child he had nurtured from nothing through blood and sweat, sacrificing his entire youth—to someone else was unbearable, and he could not hide his sense of emptiness.
He had struggled desperately to preserve the company through the tremendous turmoil of the foreign exchange crisis, but now he had reached his limit.
With liquidity completely drained from the market and banks themselves withdrawing funds, money had stopped circulating, and the company’s finances had plummeted to the brink in an instant.
He had even liquidated his personal assets to weather the crisis, but it was not enough.
As the situation worsened rather than improved, he finally swallowed his tears and decided to sell the company.
It was a choice made to at least preserve his employees’ livelihoods before the company collapsed entirely.
The figure written on the single proposal document on the desk pierced his eyes painfully.
After staring at the proposal for a long while, President Gong Hyun-woo lifted his head and asked Gu Ki-hoon, the Managing Director standing before his desk.

“There’s no other way, is there?”
“If we cannot cover the promissory notes due next week, it will be difficult to avoid default.”

Managing Director Gu Ki-hoon nodded heavily in response.

“Sigh….”

President Gong Hyun-woo released the last vestiges of his reluctance and exhaled a deep breath.

“If we must sell, I had hoped a domestic company would acquire us. What a shame.”

Just as he was about to order the contract to proceed, reluctant though he was.

“President!”

An urgent knock sounded, and Manager Choi Mu-yeon rushed in frantically.

“I have an urgent report!”
“What is it?”

President Gong Hyun-woo furrowed his brow slightly and asked.

“Well, that is….”

Manager Choi Mu-yeon, who had rushed over at full speed, spoke while struggling to steady his ragged breathing.

“Daheung Venture Capital has made a proposal to acquire the company!”
“What?”

Gong Hyun-woo’s eyes blinked at the sudden revelation.

“What are you talking about?”

The acquisition negotiations were essentially complete—all that remained was signing the contract—so it was understandable that he’d be rattled by the sudden appearance of another buyer.
Gu Ki-hoon, the executive director, was equally taken aback.
Choi Mu-yeon, the manager, thrust forward the documents he’d brought and spoke in a rush.

“I was uncertain at first because it came so abruptly. But seeing that they’ve actually sent an acquisition proposal via fax, it appears to be legitimate.”
“This is like being hit with a club in the middle of the night….”

Unable to conceal his bewilderment, Gong Hyun-woo accepted the proposal and his eyes widened immediately.

[ Corporate Acquisition Letter of Intent
Desired Acquisition Price: ₩55,000,000,000
Payment Method: Full cash payment upon contract execution
Additional Terms: Employment guarantee for all current employees ]

“…!”

Beyond merely generous, the acquisition terms were so favorable that Gong Hyun-woo shot to his feet.
He rubbed his eyes with the back of his hand, wondering if he’d misread something, and reviewed the proposal once more.
But seeing the proposal’s contents remained unchanged from his first reading, Gong Hyun-woo lifted his head with an elated expression and looked toward Gu Ki-hoon across from him.

“What was the final acquisition price that Novartis proposed earlier?”

Gu Ki-hoon responded with a puzzled expression, his demeanor a stark contrast to the dejection he’d displayed moments before.

“32.67 million dollars.”
“That would be roughly 4.9 billion won in Korean currency.”
“There may be slight variations depending on the exchange rate, but it should be approximately that amount.”

Gong Hyun-woo glanced down at the proposal in his hand once more, his resolve crystallizing instantly.

“With a 6 billion won difference, there’s no point in reconsidering.”

He then addressed Gu Ki-hoon.

“Tell Novartis to either increase their acquisition price by 6 billion won or we won’t be signing the contract.”

When Gong Hyun-woo, who had seemed ready to accept the proposed price, suddenly shifted his stance, bewilderment washed across Gu Ki-hoon’s face.

“If you demand an additional 6 billion won, the contract could genuinely fall through.”
“I don’t care.”

Gong Hyun-woo answered with an air of composure.
Gu Ki-hoon only grew more bewildered by this display.
The company’s cash reserves had nearly dried up, and it would be difficult to cover the 2.9 billion won promissory note due next week.
That left only bankruptcy as the remaining option.
They were in an absolutely disadvantageous negotiating position, yet Gong Hyun-woo was suddenly showing such boldness that Gu Ki-hoon’s anxiety burned intensely.

“President….”
“Look at this.”

Gong Hyun-woo thrust the proposal he was holding directly toward him.
It was the document that Choi Mu-yeon had rushed in with moments earlier, saying it had been sent from Daheung Venture Capital.
Gu Ki-hoon wondered what could possibly be written there and took the proposal to examine it.
When he saw the acquisition price listed, his jaw dropped.

“Is this real? 55 billion won?”
“That’s right.”

Gong Hyun-woo spoke with the corners of his mouth lifting.

“If Daheung Venture Capital is willing to pay more to acquire the company, there’s no reason to sell it cheaply, is there?”
“Y-yes, that’s true.”

Gu Ki-hoon nodded, his face still not entirely free from shock.

“So tell Novartis to raise their acquisition price, and if they refuse, we’ll sell to Daheung Venture Capital instead.”
“Understood.”
“Just to be safe, contact Daheung Venture Capital first to confirm they genuinely intend to acquire us.”
“I will.”

If they broke off the sales negotiation trusting Daheung Venture Capital, only to have them change their tune later, they would look like fools. Verification was essential.

“It’s better to sell to a domestic company than a foreign one. Don’t you agree?”
“You’re absolutely right, sir.”
“We don’t have much time if we want to complete the sale by the end of this week, so move quickly.”
“Yes, sir.”

Executive Director Gu Ki-hoon, who had responded, hurried out with Manager Choi Mu-yeon.
Once the door closed and President Gong Hyun-woo found himself alone, his face brightened considerably as he let out a relieved murmur.

“It seems there’s always a way out after all.”

Daehung Venture Capital was a domestic company, and they were offering a significantly higher acquisition price, which was certainly advantageous.
However, what truly swayed his heart was that unlike Novartis, they had provided written guarantees securing the employment of all his employees.
The regret of selling off the company he had painstakingly built still lingered, but this way he could let it go with a somewhat lighter heart.
Seated at his desk, President Gong Hyun-woo picked up the proposal document once more and spoke as if in prayer.

“I sincerely hope the contract goes through as planned.”

Days later.
News of the Seoul Seed Company sale appeared in the business sections of several newspapers.

[Seoul Seed Company, Previously Slated for Sale to Swiss Firm, Suddenly Acquired by Daheung Group’s Third Generation!]
[Is Daheung Group Entering the Seed Business? Seoul Seed Company Acquired for 55 Billion Won]
[Following Seoul Seed Company, Heungnong, Jungang, and Nongwoo Join the Daheung Group Family]
[Acquisition and Merger of Four Major Seed Companies Creates Market Share of 60%, Birth of a Domestic Seed Industry Giant]
[Blue Bio, Newly Born Through Acquisition and Merger, to Usher in a New Era for Korea’s Seed Market?]

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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