I want to be a chaebol

Li Bingkui sent Song Yi and Song Yi to the hospital parking lot. He said to Song Yi: "The president is very happy that you can come and visit today."

"The president hopes to meet you in private first, and then introduce it to his family. I believe you also know that the president's family is a huge family." Li Bingkui said.

Song Yi originally found it strange that Zhou Zhengyong was hospitalized, and there was no reason for Zhou Zhengyong's children and younger siblings not to stay in the hospital. After all, although the battle for control of Hyundai Group has come to an end, the huge wealth in Zhou Zhengyong's personal name has not yet been distributed. No one knows Zhou Zhengyong's inner plan until the last moment.

Li Bingkui and Song Yi left each other's contact information and said to Song Yi: "If you encounter any minor troubles in Seoul and need me to coordinate, please be sure to contact me."

"Thank you, Director Li, and goodbye." Song Yi said goodbye to Li Bingkui.

Li Bingkui has worked beside Zhou Zhengyong for more than 20 years, and he still understands Zhou Zhengyong's psychology relatively well. He sensed that Zhou Zhengyong might value Song Yi more, so he showed goodwill to him in advance, which was regarded as selling a favor. As Zhou Zhengyong's secretary general, a phone call from Li Bingkui may be more effective than a police chief in Seoul City.

On the way home, Zhou Shulan was a little worried. After listening to the conversation between Song Yi and Zhou Zhengyong in the ward, she regretted coming to South Korea to recognize her relatives.

Zhou Shulan reminded her son, "Xiao Yi, mom doesn't ask for wealth, she just wants the family to be safe. Your dad and I are not young anymore, don't let us parents be worried. Your eldest brother is gone, what are you still doing?" You have to take care of your sister-in-law and Miaomiao."

"Mom, don't worry, I know it well." Song Yi is going to set up a family trust in Hong Kong Island and designate his parents, Liao Yu and his daughter, as the beneficiaries. In this way, even if the company under Song Yi's name goes bankrupt, it will not affect his family's life.

After Song Yi left the hospital, Li Bingkui returned to the ward, "President, I sent them to the parking lot. Song Yi's car is a Mercedes-Benz S320. It seems that the advertising company under his name is really profitable."

Zhou Zhengyong asked Li Bingkui, "Song Yi borrowed US$2 million from the Exchange Bank. Have you found out where the money went?"

Li Bingkui replied, "Song Yi took the 2 million US dollars and bought 10 high-end apartments in Seoul, 6 in Seocho-dong and 4 in Mapo-dong. The current value of these properties exceeds 10 million US dollars. Currently, these five properties The apartments are all rented out on a full-rent basis, with a total of US$8 million in deposits collected from tenants, and the leases all start at two years.”

"Song Yi mortgaged these 10 apartments, together with his previous apartment in Jayangdong, to Hana Bank, and loaned US$10 million from Hana Bank. Song Yi transferred US$10 million to an overseas account, and then it could not be traced ." Li Bingkui replied respectfully.

South Korea has a unique way of renting a house, which is called full renting, also known as Chuanxi. When renting a house, the tenant gives the landlord a large one-time deposit, usually 60%-80% of the property value, and then can live in the house for free for two or three years.

The advantage to tenants of full renting is that they don’t have to pay rent every month and only need to pay a one-time deposit. After you check out, the landlord will return the deposit intact to you.

For landlords, it is also good for them, because they can use the tenants’ deposits to invest. As long as the annual income is higher than the rent, there is no loss for them.

Young people in South Korea cannot afford the full payment for a house, so they will choose to take out a bank loan to raise the deposit for renting a house. Since the interest rates offered by Korean banks are far lower than the monthly rent, renting a house is like pie in the sky.

For example, Song Yi bought an apartment in Seocho-dong for US$500,000, rented the entire apartment to tenants, and collected a deposit of US$400,000. Song Yi can continue to buy a house with the US$400,000, then rent out the entire house and continue to collect deposits from tenants.

Because the apartment Song Yi bought is located in a wealthy area in Jiangnan, the apartment has been renovated and there is no need to worry about renting it, so he can collect 80% of the deposit. Song Yi used this method to quickly speculate in real estate with high leverage, using tenants' deposits to buy one house after another.

As long as housing prices in Seoul keep rising, Song Yi can continue to do this. But once housing prices fall, this model will be unsustainable. When tenants quit their leases one after another, and the properties under Song Yi's name are sold or auctioned and unable to fully refund the tenants' deposits and repay bank loans, then this capital chain will inevitably explode.

Zhou Zhengyong was a little hesitant, "Song Yi doesn't want to take the 10 million US dollars and run away, does he?"

"Isn't it possible? If Song Yi intends to use the money and run away, he can actually continue to buy a house with the 10 million US dollars, and then find tenants to collect deposits, and then mortgage the house to the bank. In this cycle, he You can even get hundreds of millions of dollars in funding." Li Bingkui asked.

"You told me before that Song Yi used 10% of Shinhan Media's equity to borrow US$2 million from the Exchange Bank, and now he has obtained US$10 million from tenants and banks by fully renting the house."

"He is now using this 10 million US dollars to invest, and the profits will be enjoyed by him alone, but all the risks will be passed on to the banks and tenants. Isn't this a waste of money?" Zhou Zhengyong is an industrialist, and he is very concerned about Song. Yi's aggressive investment style is naturally not a big deal.

Song Yi had indeed considered buying a house in Seoul with 10 million U.S. dollars before, mortgage the house to a bank, and then enter the B-share market with 100 million U.S. dollars. Waiting for B-shares to reach a high point in June, he would then work with other foreign investors. Cash out together.

However, Song Yi gave up this plan after some consideration. Because the B-share market is too small, there are not many stocks.

Song Yi entered the stock market with $10 million, and was able to drink soup with other capital and leave the market smoothly. If Song Yi enters the B-share market with hundreds of millions of dollars, it can already affect the B-share market, and other financial institutions may join forces to share the market share.

By June, Song Yi's US$10 million will become US$30 million. Song Yi remembered that it was at this time that Li Zekai sold 20% of his Penguin shares to MIC for US$12.6 million.

Li Zekai spent US$2.2 million to buy 20% of Penguin's shares in 1999. In just two years, the income nearly quintupled. This is a very successful investment case at any time. But if he didn't sell these shares, these shares would later be worth hundreds of billions of dollars.

Song Yi has already made two plans. The first is to negotiate with Wemade for the exclusive mainland agency rights for the online game "Legend", and the second is to discuss with Li Zekai the acquisition of the 20% of Penguin's shares.

Of course Zhou Zhengyong didn't know Song Yi's plans. He said to Li Bingkui: "Zhou Shulan is my younger sister's only daughter. Since I plan to recognize this relative, I can't let a fraudster appear in our Zhou family and bring shame to modern times." .Call Meng Xian over, I have something to tell him."

"Okay, President." Li Bingkui dialed Zhou Mengxian's phone number without hesitation.

The first update is complete, there will be another chapter later