[What is the limit of hereditary economy?]

[What is the limit of hereditary economy?]
1. E-Mart will receive a company-wide voluntary retirement. E-Mart recorded its first operating loss in 12 years in 2023. W29.5 trillion in sales and an operating loss of about W47 billion.
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2. Discount stores are more important than any other business. They deal mainly with food and beverage and daily necessities, so it's not easy to fail in a mart once established in the region. But over the past 10 years, slowly.. but certainly E-Mart is going downhill. Not in sales, but in operating profit.
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3. It is not easy to think that E-Mart will fail just because it has a deficit. Although there is a loan of nearly 8 trillion won, there is 10 trillion won in tangible assets based on financial statements, and the actual value is much higher because most of the land and buildings were bought before.
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4. However, as I mentioned in the broadcast in the past, I think E-Mart's crisis came from lack of detail and unconvincing expansion strategy in the mart business (headquarters).
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5. For a financially secure expansion strategy, the headquarters must generate solid cash. However, since the headquarters' operating profit has decreased to 100 billion won (188 billion won) for the first time since it made 600 to 700 billion won in the past, the deficit of subsidiaries exceeding 200 billion won and interest expenses close to 300 billion won have become burdensome, and it seems that they clicked the voluntary retirement button as a desperate measure.
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6. E-Mart is not the only company facing a crisis in the Korean economy. If you search for any company that comes to mind, one of them has a stock price decline of more than -60%.
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7. I used to play a game called civilization. In this game, we choose and develop a civilization from ancient times to modern times, and the color and efficiency of each civilization vary greatly depending on what technology or policy you choose.
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8. Beginner users basically build civilization around attack. They diligently produce warriors, archers, and mounted soldiers and invade the neighboring country. Science and social systems are outdated and inefficient will deteriorate dramatically if they fail to overcome the war after much time has passed during the war. Science and technology and social systems that are newly applied in each era, such as ancient times, the Middle Ages, and industrial times, show significantly different efficiencies than those of the previous generation, and eventually, if they fail to meet the pace of global development, they will lose no matter how many troops they have.
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9. Many of the big companies that we've heard of names are run by or are preparing for the third generation of start-ups. And they've never experienced the difficult times of today's companies. They came out of school in the U.S. or Europe, and they've met a lot of cool, great things and people.
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10. And most of the time, over the course of 10 years, we're going to take the employee -> the director -> the C-level -> the CEO's tree. And then we're going to feel a little bit of a snob. So, as soon as you become a CEO, you invest in something that looks more like it, rather than investing in something that's going to enhance the competitiveness of the headquarters. With retained earnings from decades of corporate earnings.  
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11. It's not just to criticize E-Mart. It's because it's a phenomenon frequently seen in many large and mid-sized companies in Korea.
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12. Looking at this phenomenon, I think (by the standards of civilization games), is the civilization of Korea one or two generations behind other countries? Especially when I see people like Microsoft, Amazon, and Google in the United States who are making steady growth by giving up their CEO positions to smart successors rather than their children.
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13. In today's world, intangible assets are more important than tangible assets. In particular, the intelligence and rationality of leaders in society with decision-making power, such as CEOs and politicians, are more important assets than anything else. However, after all, the size of the asset is difficult to deviate significantly from the average of what all members of society have.
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14. In the end, I think it will become a better country only when the level of economic and social consciousness, which has not deviated significantly from the Joseon Dynasty, which has a hereditary system, is liberated. I think it's because the somewhat radical message but the economic situation seems depressing.


As China's Manufacturing 2025 project was canceled due to U.S. sanctions and its citizens closed their wallets due to real estate problems, it became overproduced. One of the ways they chose to solve China's lack of domestic demand and overproduction is the low-cost offensive through an Internet shopping app. Shopping malls represented by AliExpress, Temu, Shein...are used not only by Korea but also by many MiCook children. The composition and price of the product is It's neck and neck in English.

Anyone can see that the composition of the product is still at the level of Daiso or Coupang, but if low-cost volume attacks continue, just as clothes are soaked in drizzle and there is no business in the hawk, Daiso will be hit first, followed by Coupang, E-Mart and Lotte Mart.

I also go in here and experience so-called Retail Therapy. Because it's cheap, you can buy several of them, so you spend too much. If you go in when you're bored, you relieve your stress. But Coupang is probably worried that places like Ali are building a logistics center the size of five soccer fields in Korea. Capitalist society and consumers are buying things as long as they're cheap and defective. Of course, I would buy good things at department stores or luxury brands...

I caught my feet upside down a little bit during the morning rise, and if there's volatility, whether it's up or down, I'm going to trade again then. You should go to Alina Temu to play and look at books you borrowed from the library to wait for your opportunity. The option, in a way, resembles a lion or leopard hunting for herbivores on a safari. We have to wait thoroughly.