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"Boss, although you hate sticks to the extreme. But for Ssangyong Motors itself, I think there is still value in acquiring it, do you need to think about it carefully? "Wu Zhi Xiaoji single-handedly created the automobile manufacturing enterprise of Fan's Investment Group, and has a soft spot for this industry, and is always thinking about developing and expanding it, so he is more interested in the acquisition of Ssangyong Automobile.

The reason why Ssangyong Automobile proposed to be acquired this time is mainly because the financial and economic impact of the Southeast Asian financial crisis is relatively serious, and the financial and economic impact of the entire South Korea has been strong, especially the automobile manufacturing industry, which is greatly affected by the environment, is the hardest hit area.

Since the second half of 1997, the ROK economy has been plunged into a serious financial crisis. After more than two years of hard work, South Korea's financial market has now basically returned to stability, the structure of foreign debt has become reasonable, exports and foreign investment have increased, unemployment has fallen, and the economy has shown a strong momentum of recovery. GDP growth is expected to reach 10 percentage points this year.

The superficial reason why the South Korean economy was able to emerge from the predicament of the financial crisis in such a short period of time was that it rejected the huge amount of aid provided by the International Monetary Fund under harsh conditions, obtained huge foreign exchange support through the Samsung Group's private cooperation with Fan Wuji, and expanded exports and suppressed imports through the depreciation of the local currency. In addition, the rebound in the world economic growth rate has improved the balance of payments situation relatively quickly. The deeper reason is that we have taken advantage of the tremendous pressure of the financial crisis to form a consensus and cohesion among the people of the country and speed up the readjustment of the economic structure.

Before the crisis, South Korea had a government-led market economy. With the improvement of the level of economic development in South Korea, the increasing complexity of economic activities, and the increasing changes in the international economic environment and competition, the drawbacks of this system have become increasingly apparent, and the accumulated problems have become increasingly serious, and finally a serious financial crisis has erupted.

Before the financial crisis, many large enterprise groups in South Korea blindly implemented a diversified business strategy, which not only made the advantages of the core competitiveness of each group not prominent, but also increased the operational risks, which became an important reason for the financial crisis to the enterprises in trouble.

In order to solve this problem, the South Korean government has promoted the five major conglomerates to replace important industries such as refined oil, chemicals, semiconductors, railway locomotives, aircraft, power generation equipment, and marine engines.

For example, in the semiconductor industry, there were three major groups before the replacement: Samsung, Hyundai, and LG. After the replacement, LG's semiconductor company was acquired by Hyundai.

Originally, there were five companies in the automobile industry: Hyundai, Kia, Ssangyong, Daewoo, and Samsung, and the government required that automobile production be concentrated in Hyundai and Daewoo.

All kinds of enterprises have merged, sold, and liquidated their subordinate enterprises that are not directly related to their main business.

Although this kind of adjustment has encountered resistance from enterprises, the difficulties are great, and some measures have not achieved the expected goals, but on the whole progress has been made and the core competitiveness of enterprises has been enhanced.

After the financial crisis, the South Korean government and enterprises increased their investment in science and technology and development, so that South Korea has independently developed technology of the world's advanced level in high-tech fields such as semiconductors, mobile communications, computers, and networks. It has formed a strong competitiveness.

This year, South Korea's exports of information and communication products are nearly $40 billion, with a surplus of more than $14 billion, and it is expected that by the end of this year, South Korea will have laid 80,000 kilometers of optical fiber cables, and more than 10 million people will access the Internet.

The development of high-tech plays a very obvious role in South Korea's economic recovery, but at this time the prospects of Ssangyong Automobile are not very optimistic, they are mainly engaged in the production of diesel-powered vehicles, but the current international oil prices have been rising, and the impact on them is quite large, especially Ssangyong Automobile does not agree with the government-led view of mergers and acquisitions to Hyundai or Daewoo, but has a very resistant attitude towards it, which makes Ssangyong Motors, which has fallen into crisis itself, even more difficult.

"Although diesel-powered passenger cars account for most of the international market, the development of diesel vehicles in China is very slow, and diesel passenger cars account for only about one percent of the new car market every year. After comparing the development trajectory of diesel vehicles in developed countries, it is not difficult to find that China's diesel vehicle market is still a new territory that needs to be developed urgently. With the deepening of environmental protection issues, diesel vehicles are receiving more and more attention and support from the national automobile industry policy, and the future development potential is huge. "This year, SUV sales are growing rapidly, with the change of consumption concepts, SUVs will gradually enter the middle-class family, and the concept of energy saving and environmental protection is increasingly put on the agenda." Ssangyong's SUV is also getting better. As a world-class specialist in diesel-powered SUVs, I think the acquisition of Ssangyong is a clear move. ”

Fan Wuxian knew that Wu Zhi Xiaoji didn't know much about South Korea, and only considered this matter from a technical level, so he said to him, "If it's in another country, or I will think about it seriously, but for Korean companies, basically don't discuss this kind of acquisition." ”

"Why?" Wu Zhi Xiaoji asked with some incomprehension.

"The trade unions in South Korea are too strong." Fan replied.

South Korea's investment environment is not as good as expected, and it turns out that many companies lack sufficient awareness of the Korean business environment, especially the country's union culture.

In the years of confrontation, friction and struggle with the interests of the management, the trade unions in South Korea have abandoned the traditional demands for general interests such as labor wages and moved towards management, power, and politics.

As a result, the status and function of a labor representative or spokesperson are no longer maintained, but qualitatively changed to a manager, a power holder, and a political institution.

People who are familiar with Korean trade unions think that Korean trade unions are powerful, but most of them do not clearly see that Korean trade unions are no longer powerful as trade union organizations, but as management bodies, power organs, and political organizations. Think about it, with such a special kind of power, which country's traditional trade unions can be compared?

From the point of view of the union to power, this brings with it the possibility of ** and scandal. In recent years, there has been a great increase in bribery and other matters in South Korean trade unions, which are directly related to the fact that they have obtained considerable power after their power appeals, and there is no power restraint mechanism.

As for the entry of trade unions into the political arena, this is already completely contrary to the traditional trade union function, when the trade union organization has won certain positions in politics. Its position as a representative or spokesman for the interests of labor is naturally weakened. Because it must presuppose the production of a group of politicians, who perform on the political stage only when they need the support of the workers, they are the representatives of the labor side. If you need the support of the employers, it is unrealistic to expect them to represent the interests of the workers.

Among the industrial unions in Korea, Hyundai Motor Group's labor unions are quite representative.

In recent years, the annual summer strike between the labor union and the management, the Hyundai Motor Labor Union has put forward a demand for the improvement or improvement of labor wages and benefits, but also a clear requirement to participate in the management of the company.

The trade union tries to add a management authority in addition to the management of the enterprise, and the opinions of the trade unions must be taken seriously and implemented, even if the company produces new models, it must also have the participation of the trade unions.

In South Korea, the treatment of Hyundai Motor Group's workers is quite high, and it seems that the union organization has not done much in this regard, and naturally turns its goal to the management and power of the company, rather than reducing the activities of the union or even dying out of such organizations.

In fact, this situation exists in many countries, and almost every overseas M&A of Chinese companies will encounter the problem of strong trade unions.

Seven years ago, Shougang Group spent US$120 million to acquire a Peruvian iron ore company, becoming the first Chinese state-owned enterprise to successfully acquire a foreign company.

After that, under the sluggish business of Shougang Peru, Peruvian iron miners went on strike one after another. In accordance with local laws. The company could not fire the union leaders, but the hard-line Chinese management resolutely expelled the union leaders from the mines, thus exacerbating the conflict.

In the face of the striking trade unionists, Shougang did not insist on negotiating their return to their posts, but hired laborers through labor companies to save money, and eventually the laborers also went on strike, demanding equal pay for equal work with regular workers.

Until now, Shougang Peru has often stopped production due to workers' strikes, causing huge losses every year, making it difficult for Shougang to ride the tiger. I don't know if I should go or stay.

Fan Wuxian said to Wu Zhi Xiaoji, "The strength of the trade union in South Korea is beyond your expectations. No foreign investor is happy when the union members with red turbans on their heads shout slogans such as crushing management and dying with the company. In the face of the extreme trade union struggles in South Korea, how will foreign investors who have no understanding of South Korea feel about it? I guess they'll feel a chill down their spine. ”

Wu Zhi Xiaoji didn't understand the situation here at all, and couldn't help but be stunned when he heard the words

South Korea has never been able to shake off this labor-management culture that is full of struggle and consumption. In this regard, the primary responsibility lies with the mega-trade unions that treat the labour movement as the fulfillment of outdated ideas.

Forgetting their natural mission to protect the rights and interests of workers, these unions regularly intervene in political movements, constantly launching street demonstrations and carrying out illegal strikes regardless of the specific situation of the country as a whole and the company. In the face of slogans such as "die with the company" and "down with management", what foreigner can tolerate investing in South Korea when his personal safety and property are at risk?

It is no wonder that there have been rumors in the international market for a long time that if you want to invest in South Korea, you must either invest in a company without a union or sign a treaty with the union in advance to prohibit disputes.

It can be seen that in the eyes of foreign investors, industrial relations in South Korea have exceeded dangerous levels.

"It's a shame that there would be such a thing." Wu Zhi Xiaoji said very regretfully.

Recently, Fan's investment group's automobile factory has been developing and manufacturing SUV models, if the relevant part of Ssangyong Automobile can be accepted, it is obviously very beneficial, but listening to Fan Wuxian said this, Wu Zhi Xiaoji himself also felt a little hesitant, after all, when encountering such a strong trade union organization, and intervening in the most difficult time of the other company, God knows what kind of rebound will the sticks who have always had a very high national sentiment have?

If you let your funds fall into such a trade union quagmire, it will be more than worth the loss, although Fan's Investment Group has strong assets, and it will not feel too distressed to lose billions of dollars, but it is very unwise to know that you can't do it instead of operating this matter, and Wu Zhi Xiaoji is not so persistent in wanting to do this.

However, Shen Ying on the side listened to everything at this time and understood something about this matter, so she suggested to Fan Wuxian. "Since you're interested in their business, but very disgusted with their unions, why don't you try to talk about whether you can restrict their union activities, or just remove them from their business? If this goal can be achieved, the muddy waters of Ssangyong Automobile are not impossible to try. ”

"How easy it is to talk——" Fan Wuxian said after smiling bitterly, "The stubbornness in the bones of Koreans is deep-rooted, especially for the Chinese, the vigilance is even deeper into the bone marrow, after all, after being a vassal country for thousands of years, it is difficult to become independent, and it counts when you speak, how can you be willing to buy your account again?" If it weren't for special reasons, they would never have anything to do with China again. ”

However, Fan Wuxian considered that Shen Ying said that it was okay to give it a try, so he discussed it with Wu Zhi Xiaoji, and asked him to send a negotiation team to South Korea to negotiate with the people of Ssangyong Automobile on the intention to buy, and at the same time make clear his position, that is, the premise of the acquisition, that is, the trade union organizations with strong activities must be restricted or banned.

"As the so-called sky-high asking price, sit on the ground and pay back, and talk slowly - we can't afford the cost of food and accommodation for dozens of people? As for the bread for them, they can also be drawn larger. Even if we can't negotiate, we have to drag this negotiation for a longer period of time, so that their enterprises can not be high, and the more difficult the situation, the more beneficial it will be for us-" Fan Wuzhi asked Wu Zhi Xiaoji to the bottom.

"Together, you are a model of profiteers." Shen Ying leaned next to the phone receiver, listening to them talk about things, and commented with a smile.

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