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? Seoul International Airport
? At the airport, the Wang consortium received a high-level reception from Minister of Foreign Affairs and Trade Kim Doo-hwan and Chairman of the National Economic Consultative Council Li Mingan, and received flower presentations and VIP reception.
Then, the convoy drove directly to the Blue House.
There, the commander-in-chief cordially received the consortium led by Wang Yaocheng, the world's richest man, who came to investigate, and gave a warm speech, warmly welcome the inspection visit and investment in Korean enterprises, and cherish the traditional friendship between the two countries.
"Snapped."
Li Jianxi turned off the LCD TV angrily, and spit out a few words coldly on his sharp and rigid face;
Li Jinzhe, director of Samsung Economic Research Institute, glanced at Song Changxu who was sitting next to him, and closed his mouth wisely.
Song Chang-wook is the president of Samsung Electronics. Today, a small-scale Samsung Electronics president countermeasure meeting is being held. Vice presidents Chi Renjun, Cui Zhehuan, Li Wankui and others are also present.
"Chairman, according to our prior evaluation, Wang Yaocheng is probably here for Hynix. There may be a semiconductor company on the target list. This is a high-tech electronics company that can arouse their interest. The intention is not good!"
It is not difficult for the Samsung Group to guess the intention.
There are not many targets with sufficient size and attractiveness in Bangziguo. In the semiconductor industry, there is only Hynix, which is deeply in debt.
The sharp drop in DRAM prices in 1997 caused Hynix to suffer a huge loss of 2.6 billion U.S. dollars. It was unable to repay the huge loan (over 14 billion U.S. dollars) it owed when it acquired LG Semiconductor on schedule. The asset-liability ratio was as high as 236%.
When the financial turmoil hit, everyone thought that Hynix was going to die, including the Samsung Group.
The creditors headed by Korea Exchange Bank (keb) entered Hynix and took over the management, and began to look for a buyer. However, such a huge debt mess is in the memory industry that is losing money. Both Samsung and LG refused to take over .
The memory chip industry is like this. It makes money faster than a money printing machine, but it is a bottomless pit when it loses money. Moreover, the production line cannot be stopped. Once it stops, the market will be handed over to others.
Previously, the creditors of Hynix found the American manufacturer Micron, which was the most adept at taking advantage of others, and the other party proposed an unbelievable jump price, which caused a huge controversy among the 130 creditors.
If you sell it, more than half of the creditors will go bankrupt immediately. If you don't sell it, everyone may die.
At this time, Hynix's employees broke out, and the union issued a stern statement to Micron, claiming that all employees would resign collectively once it was acquired. Under such circumstances, Micron, which was greedy for cheap, had to retreat.
Right now, this is such an unlucky situation.
? Including Samsung, and modern major dram manufacturers, are eagerly looking forward to the collapse of Hynix, hoping that after the collapse of Hynix, memory prices can recover.
It is such a mentality that a dead Taoist friend will not die a poor Taoist.
To everyone's surprise, the creditors of Hynix, especially the Korean Exchange Bank keb, did not give up. 130 creditors united and went to Hong Kong to seek the merger and acquisition of the Wang consortium, which led to this trip to Seoul.
The position of the station is different, and the angle of looking at the problem is also different.
Samsung and Hyundai all want Hynix to go bankrupt, and Korea Exchange Bank, as the largest creditor, certainly cannot allow it. This represents billions of dollars in impairment, which is unbearable.
"What do you think about this?" Li Jianxi glanced at everyone majesticly, like a lion king entrenched in his own territory, not allowing the slightest provocation or disrespect.
Li Jinzhe said cautiously; "Chairman, at this difficult time, it may be difficult for us to stop the government and Keb Bank from taking action. After all, the fall of Hynix has dealt a heavy blow to the Korean industry."
"I would rather he fall than be taken away by the enemy. The Wang consortium is our biggest competitor and the most dangerous competitor. The speed of development is frightening. This is not the time to talk about patriotism."
Li Jianxi was furious, roaring loudly, and Li Jinzhe, director of the Economic Research Institute, was too frightened to speak again; "Please forgive the chairman, I think the problem is too superficial."
"snort!"
With a heavy snort, Li Jianxi scanned the crowd with stern eyes; "Aiming at the current situation, what reasonable countermeasures do you have?"
Song Changxu is the president of Samsung Electronics. Seeing that the deputies are looking down like schoolchildren with their heads down, as if there is something very interesting, he can only bite the bullet and answer;
"Chairman, the counter-cyclical expansion of the Samsung Semiconductor Division, the newLaunched two eight-inch fab projects, and retained the right of first refusal for two eight-inch fab equipment, expanding production capacity by 60%.
Currently, due to the high yield rate of memory chips in the semiconductor business unit, stable prices for long-term customers, and the fact that 35% of the production capacity is consumed within the group, various factors are intertwined;
Although our production capacity is stronger than that of Hynix, we have less losses. In 1997, we lost 1.15 billion US dollars, showing strong competitiveness, far exceeding Japanese-funded major manufacturers, and our current market share in the world has reached 19%.
Once the counter-cyclical expansion is completed, it can be expected that by the end of 1998, the market share will reach 31% to 32%. "
After the introduction, Song Changxu said with some guilt; "Of course, if the current sluggish memory chip prices remain sluggish, the losses of the semiconductor division may further intensify."
There was a moment of silence in the conference room
Li Jianxi asked without the slightest emotion; "How is the situation of Wang's consortium's Atlantic Wafer Technology Group?"
Li Jinzhe, director of the Economic Research Institute, quickly opened the information he brought with him; "Because the other party is not a listed company, all the company's operating data is confidential. After careful calculation, the following conclusions are drawn:
Due to the high affordability of Atlantic Wafer Technology Group's customers, long-term major customers including Changjiang Technology Group, Huanghe Technology Group and Nokia Corporation have signed long-term stable supply contracts, accounting for 77% of the total production capacity.
Therefore, it is less affected by the plunge in memory chip prices.
The four major 8-inch fabs produce memory chips. According to scientific evidence, the loss in 1997 was around US$373 million, not higher than US$420 million, which is relatively accurate. "
"How could the loss be so small?"
?The senior cadres present at the meeting were shocked. As far as they know, major Japanese companies have lost billions of dollars, and each of them plans to withdraw from the field of memory chip production. It is really too much to lose.
Li Jinzhe gave a detailed answer; "The salary of high-level personnel in China is only 18 to 110 in South Korea, and the salary of ordinary workers is even lower.
Generally speaking, the monthly salary of high-quality production line employees is about 2,000 yuan, which is 240 U.S. dollars, which is ten times lower than that of domestic employees.
The monthly salary of ordinary workers is about 700-800, which is about 90 U.S. dollars, which is as much as 15 times lower than that of domestic workers, and as high as 40 to 50 times lower than that of Japanese-funded large factories.
?Combined with other generally low costs, the production cost of an eight-inch fab in China is 65% lower than that in China, and the difference is very large.
If the price of memory chips is high, this part of the cost will not be reflected at all, but when the price plummets, it will show unparalleled competitiveness.
In addition, Atlantic Wafer Technology Group's production patent pool is derived from the Japanese-owned giant Fujitsu. It has a full set of production secrets and experienced Japanese employees who teach it hand in hand. The product yield rate can match that of Samsung's Semiconductor Division.
Moreover, the foundry company Changjiang Technology Group consumed a large amount of memory chips and application chips, and relatively borne part of the loss from the price plunge, so there was a small loss.
This is the linkage effect of group companies, which is worth pondering. "
Think about it!
The Samsung Group is completely different from the Wang Consortium, and other people's methods cannot be copied and used.
The companies under Samsung are all independent legal persons, and most of them are listed companies. The Samsung Group does not have an absolute controlling stake. In some companies, it only has about 10-20% of the shares. It controls the entire group through complex cross-shareholding of companies under its command.
If an internal company transfers benefits, first ask other shareholders whether they agree.
There are cheap memory chips on the market, if you don¡¯t buy them, you have to buy expensive ones from Samsung semiconductors. Is the democratic system of Han Bangzi country just a display?
Changjiang Technology Group, a subsidiary of Wang's consortium, is a wholly-owned subsidiary. You can play as you want. How can others learn? (Remember the site URL: www.hlnovel.com - Didn't finish reading? Add this book to your favoritesI'm a member and bookmarked this chapterCopy the address of this book and recommend it to your friends for pointsChapter error? Click here to report
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