Just during New Year's Day in 2004, the Dongya Ilbo, the second largest number of South Korea, published a news that shocked the whole of South Korea. That is, Zheng Mengjiu, chairman of Hyundai Motor Group and his son Zheng Yi-hyun, were suspected of privately establishing and embezzling more than 100 billion won of secret funds, causing more than 400 billion won of economic losses to Hyundai Kia Motor Group and its subsidiaries. The Dongya Ilbo also published more detailed information to confirm that the incident was true, not to make a fuss.

On January 5, the No. 417, Criminal Colloquium Department of Seoul Central District Court, South Korea, began the first public trial of Zheng Mengjiu and his son yesterday morning for suspected embezzlement of public funds and bribery of government officials. In the court, the South Korean Procuratorate rejected Zheng Mengjiu's bail application, but agreed to his son Zheng Yi-hyun's bail application.

The first public trial of Zheng Mengjiu and his son lasted about 50 minutes. Before the public trial ended, the judge announced that the next public trial would be held on June 12.

This incident shocked the entire South Korea. Because Zheng Mengjiu's identity is extraordinary, he is the chairman of Hyundai Kia Automobile Group, the largest automobile manufacturer in South Korea, and is also one of the top ten richest people in South Korea.

Since the headquarters of Hyundai Motor Group was searched, the scandal that shrouded the group has spread to the entire South Korean automobile industry. Koreans are worried that the destruction of Kim Woo-jung and the "Daewoo myth" a few years ago will be repeated in Hyundai Motor Group.

The scandal of Hyundai Motor Group has seriously affected the group's operations. The group's plan to build factories in the Czech Republic and the United States was stranded, and its Kia Motors company's plan to establish a local assembly and production factory in Southeast Asia has also become a silence. Hyundai Motor Group's global operation path has encountered thorns.

At the same time, the incident between Zheng Mengjiu and his son also caused great turmoil in the stock market of Hyundai Motor Group. In just three days, Hyundai Motor Group's stock price plummeted by 30%, and its market value fell from US$18 billion to less than US$13 billion.

At this moment, Zheng Mengjiu's younger uncle, Zheng Xiangyong, who was squeezed out of Hyundai Motor Group by Zheng Mengjiu eight years ago, announced in a high-profile manner that he would acquire Hyundai Motor Group to relieve the severely disaster Hyundai Motor Group.

Zheng Xiangyong's sudden intervention made people realize that Zheng Mengjiu's affairs this time were probably not that simple.

In South Korea, the hatred between Zheng Xiangyong and Zheng Mengjiu's uncle and nephew is not a secret. You should know that eight years ago, Zheng Xiangyong was the second-ranked figure of Hyundai Motor Group, but was eventually driven out by his nephew. Although Zheng Xiangyong has not taken any revenge in the past few years, no one believes that he can swallow this.

Last year, Zheng Xiangyong's acquisition of Hyundai Group had already made it known that Zheng Xiangyong, who had been lying on firewood and tasting gall for eight years, began his journey of revenge. However, because of the mistakes in strategy, Zheng Xiangyong failed. Everyone thought that after this attack, Zheng Xiangyong would not take action again immediately, but they did not expect that just over a month had passed, Zheng Xiangyong would actually attack the behemoth of Hyundai Motor Group.

Moreover, the Hyundai Motor Group, which is now suffering from internal and external troubles, is really difficult to resist Zheng Xiangyong's attack. Because, in just three days, Zheng Xiangyong has already acquired 12% of the Hyundai Motor Group's shares at an extremely fast speed.

When Zheng Xiangyong was buying shares of Hyundai Motor Group, Jiang Feng, the newly emerging Chinese richest man, also announced that he had purchased 5% of the shares of Hyundai Motor Group.

Subsequently, Kim Shanxi, the current chairman of Daewoo Group, also announced that Daewoo Group's shares held by Hyundai Motor Group reached 3%.

After the three announced the news one after another, the three also announced that they would form an alliance to challenge the position of Zheng Mengjiu, the current president of Hyundai Motor Group.

Although these news is amazing, it is not shocking and cannot shake Zheng Mengjiu's holdings in Hyundai Motor Group. Although Zheng Mengjiu owns only 8% of the shares of Hyundai Motor Group, the shares of Hyundai Motor Group that he can control are as high as 57%.

However, the subsequent news completely shook Hyundai Motor Group because the largest creditor of Hyundai Motor Group, South Korea Exchange Bank, announced that it would sell 31% of its shares in Hyundai Motor Group to KCC Group, owned by Zheng Xiangyong.

With the strength of KCC Group, it is naturally impossible to eat so many shares of Hyundai Motor Group. In fact, most of these shares were eaten by Jiang Feng, accounting for 20%. Zheng Xiangyong only won 11% of them.

In order to reach this transaction, Jiang Feng paid a huge price. He mortgaged 40% of the shares of Jiang's Investment Fund to the No. 1 Citibank in the United States, thus borrowing 5 billion US dollars in funds and taking 31% of the shares of Hyundai Motor Group owned by the exchange bank at a price of 20% exceeding the share price of Hyundai Motor Group.

After Jiang Feng acquired 31% of the shares, he traded 11% of them with Zheng Xiangyong's KCC Group. In this way, Jiang Feng owned 25% of the shares of Hyundai Motor Group and 30% of the shares of KCC Group, while Zheng Xiangyong owned 23% of the shares of Hyundai Motor Group.

However, before the action, Jiang Feng signed a cooperation agreement with Zheng Xiangyong, which is that his will support Zheng Xiangyong in his election as president of Hyundai Motor Group.

In this way, Jiang Feng owns 25%, Zheng Xiangyong owns 23%, and Jin Shanxie owns 3%, and the alliance reached by the three of them has controlled 51% of the shares of Hyundai Motor Group. The shares controlled by Zheng Mengjiu have dropped sharply to 26%. Even if he also controls the shares of other shareholders, at most it is only 49%.

Hyundai Motor Group has been controlled by Zheng Xiangyong in just a few days.

This series of actions made Zheng Mengjiu and his son dizzy and had no power to fight back. When they woke up, Zheng Xiangyong already had absolute controlling stake in Hyundai Motor Group.

Just when the news was announced, Jiang Feng, the main character in the incident, was accompanying the beauty to go shopping and play.

As for the so-called peace agreement he reached with Zheng Yixuan before, Jiang Feng didn't see it at all, just like Zheng Yixuan and his son had no real intention of peace with Jiang Feng. Everyone used this temporary peace as a guise to accumulate strength to deal with each other. However, Jiang Feng's behavior was faster and more devastating. Therefore, Zheng Mengjiu and his son were in a tragedy. Not only were they facing prison, but the Hyundai Motor Group they controlled also became someone else's.

Of course, this did not cause much loss to their own wealth, but just lost control of Hyundai Motor Group.

Jiang Feng was sitting in Li Yinxin's car and received a call from Jiang Lingyu, saying that he had reached a loan contract with Citibank.

Originally, Jiang Feng did not intend to use shares of Jiang's Investment Fund as collateral to borrow money from the bank because he did not want his own industry to be intervened by others. However, this time he could not deal with Hyundai Motor Group with his own strength.

However, he could not resist the counterattack against Zheng Mengjiu and his son, because he could not tolerate the threat there, so he could only choose to borrow funds from Citibank. However, Jiang Feng believed that with his company's ability to attract money, it would not take much time to repay the loan from Citibank. At that time, Jiang's Investment Fund will still be his private property.

After Jiang Feng hung up the phone, he fell into deep thought. He was thinking about how to get back the shares of the Jiang Investment Fund that he had mortgaged. Although he was confident that he would get these shares back, he didn't want them to be mortgaged for too long.

Li Yinxin glanced at him, not knowing what he was thinking. Seeing that he ignored him, she snorted, then started the car and drove towards Huayang Xiuyuan.

Li Yinxin felt very uncomfortable because she cared so much about him and ignored him. Because she was a little angry, Li Yinxin's car was very fast. In addition, it was so late, there were not many other cars on the road. The red Ferrari was like a fire that cut through the darkness of the night, galloping at lightning. Jiang Feng put his hand on the car door and let the cold wind blow.

"It's a bit cold. Can you close the car window?" Li Yinxin said coquettishly at this time. She turned to look at Jiang Feng, "What are you thinking?"

Jiang Feng seemed a little lost, not like him at all. Li Yinxin is now like a jealous little fox, very sensitive.

Jiang Feng turned around and smiled, then curled his lips slightly and said, "Well...why, are you angry? Haha... Actually, I was thinking just now, can I stay at your house for a night tonight."

"What?" Li Yinxin's hand trembled, and the Ferrari's body was swaying at high speed, almost losing control. Fortunately, she quickly stabilized her direction.

"You...what did you say?" she asked in a trembling voice.

Because it was a little shaking just now, Jiang Feng reached out and grabbed the seat and kept it stable. Then he smiled and said, "Can you drive more steadily, haha... I just asked, can you stay with you for a night tonight, so late. I don't want to go back and disturb Xiangmei and the others."

Li Yinxin's eyes turned, Jiang Feng asked what this meant, did he think? In an instant, she felt her body hot, her cheeks turned red quickly, Li Yinxin bit her lower lip tightly, and her mood was very complicated. She had been waiting for so long and did so many things for Jiang Feng. Isn't she just waiting for him to agree? Now when happiness suddenly comes, Li Yinxin is at a loss. (To be continued. If you like this work, you are welcome to subscribe to (this site) and reward. Your support is my greatest motivation.)
Chapter completed!