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Important to one's life[2024]

The story of third generation management.

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The story of third generation management.

1. There are many incompetent 3rd generation in Korea, and there is a claim that professional managers are right to run, but 3rd generation = incompetence cannot necessarily be said.

No one says that Nintendo's third-generation professional manager has turned the Hwatu company into a global game empire.

Capcom also runs a family, but it's doing very well.

Hanwha and Hyundai Motor are also 3 years old, but whether Hanwha 3 is good is still an area of verification, and not all three successors get good reputations. Kim Dong-kwan is the only one with a good reputation. But... Was Kim Dong-kwan's overseas investment a big hit? Plug Power... Nicola... I think Kim Dong-kwan is still an area of verification.

2. In fact, Korean governance is a challenge, but it has a long way to go compared to the United States, but it is very good compared to Southeast Asia and China.

The owner took the money and sent it to Southeast Asia or Yunnan, and the shareholders put in the murder case there.

3. Samsung is actually relatively good-natured in terms of governance. It's hard to fumble because the whole nation is paying attention. In fact, it's actually mid-sized and small-sized companies that are hitting the bone.  

Wouldn't there be a case of not building a building after beating the paid-in capital increase to build an employee's dormitory? Or a no-show M&A. They joked that they would buy biological materials that failed phase 3 and make anticancer drugs, so they floated the stock price, and cried "of course, it failed" in phase 3 and said they wouldn't give up their dream of developing new drugs.

I've never seen civic groups or people talking about social justice raise issues on these issues.

4. No Tim Cook or Jobs children have taken succession classes.
But Lee Jae-yong even declared that he would not hand over the succession to his children, and announced a long-term shareholder return plan...?

5. Chaebol who don't do anything set up a bakery for 3-4 years old, set up a real estate business, and did virtual idols, and then rolled them all up one after another.

6. But does a professional manager always show great skills.
I'd like to talk about how the founder of Lock & Lock sold it to a private equity fund, and there have been cases where a professional manager of a securities company almost blew up the company twice while focusing on ELS.

People tend to focus only on success and large cases, but not on the details.

7. In addition, there are obvious advantages of the owner management system. Compared to professional managers, the company can have a long-term perspective. Chairman Lee Byung-chul who steadily invested in CAPEX to create Samsung Electronics despite the rumor that Samsung is going to fail is a story that a professional manager would not have dreamed of.

8. People are underestimating Lee Jae-yong by talking only about Samsung Electronics' HBM, but it is clearly an achievement that has led to the overwhelming increase in DRAM MS since 2017. They don't talk about this.

9. Samsung subcontractors are looting. No matter what, if you join Samsung, you will live and look neat compared to other groups. I hope you can see OPM for 10 years in Lee Know's industry.

Rather, vague chaebols are the most critical. However, I have never seen civic groups or journalists criticizing this.

10. In fact, the incompetent 3-4 years old will naturally disappear even if we talk about this and that. That's the market economy.

11. Do you have a story? I was wondering why the CEO of Cho Dae-jung's company told me that he teaches alcohol and women to my son, and I concluded that he is a person who would not work because he is so passionate. People used to say that if you stop doing business, it's a trillion won, but if you end up with alcohol and women, it's worth hundreds of millions of dollars at best. So I just want to work in the financial sector and earn a salary and use a corporate credit card.

Oh, well, did the pm seat become a case study that you can roll it up in trillions? Regarding CEO Min Hee-jin, there are people who recognize that Hive provided more than 10 billion won in funding and gave full power, but they caught him off guard. I think it's an old-fashioned view.

CEO Min Hee-jin did his part as an investee, achieving hundreds of billions of corporate value. A normal investor would probably say thank you for making me make a lot of money.

And the same may be true of CEO Min Hee-jin who was stabbed in the back. He must have felt that Hive would do everything for you at first, but later he broke his promise.

Perhaps it's the idea that members of the organization should do everything they tell them to do. Times have changed.

The company and its members are subject to trade in what they have, not a relationship where loyalty or filial piety can be applied. Even junior employees resign or raise issues immediately if they don't like something about it these days.

In addition, CEO Min Hee-jin is a 20% stakeholder, equivalent to the founder, and is the CEO of a separate corporation from Hive. It's not an object that can be said to be a "cow" or an object that can be easily buried.

Hive's defeat is that he played the press without getting out of the old way. So now he's paying the price firmly.

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