Chapter 1270: 1227

Less than two kilometers away from Tsing wa Tai, in the headquarters building of SamSung group in wuqiaodong, Central District, Seoul.

It's six o'clock on Monday afternoon.

At the end of the day, Chen Qing sent the team of Westeros to signal to Samsung president Li Jianxi, who also showed up because of Chen Qing's presence. Li Jianxi also waved away the negotiators from Samsung and asked, "Miss Chen, what's the matter?"

Chen Qing looked at Li Jianxi across the broad conference table and said in a serious voice: "President Li, my boss is interested in long-term interests, so I don't care about your deliberate delay in the negotiation process for short-term interests. However, December 31 is the deadline. I hope you can remember it?"

Li Jianxi's heart flashed a wave of anger and frustration. On the surface, he nodded slightly: "Miss Chen, I understand."

"It's just a reminder," Chen said. "There's another important thing. I've talked with President Cheng of Hyundai and President Cui of SK today. This Wednesday, I hope you three will announce the layoff plan together, which is the key for South Korean enterprises to survive the crisis and recover. They have all agreed. President Li, do you have any questions? "

"Miss Chen, redundancy is a matter that needs careful consideration. It concerns the livelihood of many people. There are only two days left. It's too hasty. We need detailed planning."

"The planning can be done later. What I need is the stance of the three of you," Chen Qing said, staring at the head of Samsung. "Chairman Li, in fact, you are now delaying, as well as the sluggish adjustment of the enterprise structure. We all know why. In my opinion, these thoughts are very indecent, and my boss even disdains to care with you. Because of these delays, it's your own development that gets in the way. The boss told me about one of his personal experiences. In the development of the westero system, he never tangled with these corners. Instead, he kept moving forward quickly. That's why the westero system is today. We have talked more than once about the prospects of Hyundai, Samsung and SK under the support of the westero system. Your doubts are understandable. However, it would be foolish to slow down because of this. In the end, Li, the boss, can I have enough patience? "

Feeling the aggressive sharp eyes of the girl opposite, Li Jianxi, who has always been strong, gives birth to some evasion.

Two people deadlocked for a few seconds, Li Jianxi or compromise after all: "OK."

"Very good," Chen Qinggang said with a smile. "President Li, no accident, I will return to China this weekend. Well, my hometown is in Suzhou. As it happens, Samsung's headquarters in China is also in Suzhou. Why don't you send a delegation to China with me to discuss on-the-spot how to expand Samsung's business in China

Li Jianxi sighed in his heart and said faintly, "this matter, please discuss with Jin Qiu."

Li Jianxi is talking about Jiang Jinqiu, President of Samsung Electronics.

Li Jianxi can understand why Chen Qing suddenly said this.

On the one hand, it is necessary to announce the layoff plan, on the other hand, it is necessary to expand China's business, which seems to be contradictory.

# sent 888 cash red envelopes to the official account of vx. public library, watching popular gods and pumping 888 cash red packets.

Not really.

The next major layoffs of SamSung group, taking Samsung Electronics as an example, will mainly be the local team of Samsung Electronics and the factories of its products in South Korea. Not to mention the businesses completely cut off, the production lines of the products planned to be retained, such as TV, mobile phones, etc., will be further transferred to China, Southeast Asia and other countries and regions, so as to minimize costs.

Chen Qing's request, in addition to attracting investment for her hometown, also pushes SamSung group to start substantive structural adjustment as soon as possible.

When Chen Qing leaves with satisfaction, Li Jianxi is still sitting in the open conference room.

Li Jianxi thought of last year.

Following Simon westero's well publicized trip to China, he also visited China, and publicly expressed his worries about South Korea's overheating economy and dissatisfaction with Kim Yong San's radical economic policies at a press conference at the Diaoyutai State Guesthouse in Beijing.

After South Korea joined the OECD and was promoted to the rich countries club last year, Kim Yong San also put forward the slogan that GDP will enter the top five in the world in 2005.

Now, this slogan is a joke.

The result of Kim Yong San's radical economic strategy is that South Korea, which has maintained a trade surplus for decades, has started to run a deficit in the past few years. In 1996 alone, South Korea's trade deficit reached 22.4 billion US dollars, which consumed a lot of South Korea's foreign exchange reserves. This is also why when the financial crisis came, Hong Kong, Taiwan and Singapore, the last three of the four little dragons in Asia, were able to spend their time easily with their abundant foreign exchange reserves. On the contrary, South Korea, the top one, almost fell into the abyss of doom.

At this point, forced to sign a rescue agreement with the IMF, the media and the public just clamored that South Korea had lost its economic sovereignty. However, most people did not know what it contained.

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Li Jianxi understood.Even for the sake of his family's foundation, Li Jianxi chose a person who knew current affairs as a hero, but as a Korean who did not lack nationalism and patriotism, his heart was also painful.

Because of the early detection of the systemic risks hidden in South Korea's economy, even if SamSung group had to follow the trend of debt expansion, before the crisis, the overall asset liability ratio of the top ten chaebols, even if it had exceeded 300%, was still very low.

Samsung would not have needed to cede control of Samsung Electronics, the foundation of the group, if it had not been targeted by the westero system.

Now, Li Jianxi only hopes that westrock can keep its promise and help him win Kia, so that Samsung can enter the auto business smoothly. Moreover, he is determined that even if Samsung Electronics is completely abandoned, the Li family must firmly control the car business in their hands.

Two days after Monday's talk, Hyundai, Samsung and SK simultaneously announced the restructuring of the group on Wednesday, December 3.

Of course, no one is stupid enough to use the words "layoff announcement" explicitly.

It's like Samsung.

The related report is called "Samsung Group's business system reform plan". For this reason, Li Jianxi specially renamed his own Secretary Team "structural adjustment committee".

However, look at the content.

The core of the innovation plan is that in 1998, Samsung Group will streamline 30% of its institutions and reduce 50% of its operating expenses.

There's no need to talk about other high sounding or implicit terms. It's just that everyone knows what the so-called innovation plan means. In colloquial terms, Samsung Group plans to lay off 30% of its employees in 1998 and launch a large-scale wage reduction measure to reduce its operating expenses by 50%.

The entire SamSung group, including Samsung Electronics, Samsung life, Samsung products, Samsung automobile and other subsidiaries, has a total of 130000 employees, of which only Samsung Electronics has 58000, nearly half.

The 30% cut means 40000 people will lose their jobs in the next year.

Behind the 40000 people, there are 40000 families.

Even those who are lucky enough to stay will face a big pay cut.

In addition, Hyundai and SK, the proportion of planned layoffs in the announcement is equivalent to Samsung, both around 30%.

Even if a large number of South Korean enterprises close down in the coming year, the current unemployment rate in South Korea is only 6.1%. It's hard to imagine what would happen to South Korea if all enterprises followed Samsung, Hyundai and other giants to lay off employees of the same scale, so that the overall unemployment rate of the country reached 30%.

You know, the unemployment rate in Eastern Europe is about 30%.

Therefore, as soon as the announcement of the three companies was released, it immediately aroused the criticism of various media, and the blue house and several presidential candidates also expressed strong concern about this matter.

It doesn't help after all.

With the influence of the three chaebols, the announcement of the so-called "system reform" or "structural adjustment" will inevitably lead to an inevitable herding.

Before that, many companies were afraid of the pressure of public opinion, even if the IMF agreement had already banned large-scale layoffs. Now, giants such as Hyundai, Samsung and SK have taken the lead in doing so. What else do you have to worry about?

As a result, countless enterprises began to follow suit overnight.

By Friday, there had been another gathering of unemployed people in front of the green tile platform. Instead of vainly attacking the company that had abolished itself, the protestors pointed the finger at the IMF again. Some even pulled out a very "creative" banner to reinterpret the IMF as "I'm fired" to express their dissatisfaction.

Unfortunately, this is still just the beginning.

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