Who would still start a business seriously after being reborn?

Chapter 545 Ambition
"If you can really help me get rid of Lee Boo-jin's threat, I guarantee that during my tenure as president, Samsung and Momo Group will never be enemies," Lee Jae-yong quickly assured him.

Lee Jae-yong's assurance made Cheng Yi somewhat unhappy.

Are you kidding me? If we're never enemies, then this $30 billion deposit is just gone.

Cheng Yi chuckled and said, "President Li, this is something I should do, so you don't need to feel guilty. If the conflict between you and Li Fuzhen is resolved, I won't be labeled as untrustworthy."

Cheng Yi continued, "President Li, the most urgent task now is to come up with a divestiture plan that will make her willing to leave, such as the valuation of these hotel businesses."

At this moment, Lee Jae-yong only wanted to get rid of Lee Boo-jin, this ticking time bomb, as soon as possible. In his eyes, the hotel industry was just a burden he was eager to get rid of.

He said in a deep voice, "The price is negotiable, Mr. Cheng. How about six billion US dollars? That's definitely a fair price. Samsung's hotel business is all over Asia, and its brand value is at least seven or eight billion US dollars."

Cheng Yi was not surprised by Lee Jae-young's offer.

That's 19721 hotels with over 157 million rooms! The real value is definitely far more than 60 billion US dollars.

However, now that he owns shares in the hotel business, he can naturally lower the price as much as possible. He looked troubled and pondered, "Your sister might think this price is too high."

"High?" Li Zairong said anxiously, "President Cheng, 60 billion US dollars is really not high. Last year, Google Group approached us to discuss the transfer of its hotel business, and their asking price was 65 billion US dollars."

"President Li, please don't be in such a hurry," Cheng Yi quickly reassured him, smiling, "Since it's to get your sister out of the picture, we can't negotiate at market price. If your sister doesn't feel our sincerity, she won't leave Samsung Group. I think we should set the price at five billion US dollars, but..."

Cheng Yi changed the subject, saying, "However, your sister may have difficulty raising such a large sum of money in a short time, which is the biggest problem in implementing our plan."

"Indeed." Lee Jae-yong's expression also turned slightly grim.

Let alone Li Fuzhen, even he himself couldn't come up with that much money in a short period of time.

Cheng Yi lowered his head and pondered, "How about this, I'll act as the middleman and persuade her to accept installment payments? What do you think? For example, pay it off in five years. Our current goal is to make sure she can afford the down payment and kick her out of Samsung as soon as possible."

"Installment? Five years?" Lee Jae-yong hesitated for only a moment before nodding.

Compared to getting Lee Boo-jin out of here completely, what does a mere payment method matter?
He immediately made the decision, saying, "No problem, do as President Cheng says. As long as she guarantees that she will have no further connection with Samsung Core, five years is fine."

"Good, President Li is indeed straightforward!" Cheng Yi clapped his hands and laughed, then stood up and said, "Let's go sign the ceasefire agreement now, please."

"Okay." Li Zairong couldn't wait for the fighting to stop, and accompanied by Cheng Yi, he quickly went to Cheng Yi's office.

Cheng Yi's office looks very ordinary, without expensive furniture and luxurious decorations.

Upon entering the office, Cheng Yi immediately took the prepared "Ceasefire and Compensation Agreement between Samsung Group and Momo Group" from Li Weiwei.

Cheng Yi pushed the ceasefire agreement in front of Lee Jae-yong, handed him a pen, and said with a smile, "Sign this, and I will immediately cease all cyberattacks and negative publicity against Samsung, so that President Lee can go back to handle internal affairs with peace of mind."

Looking at the glaring clauses in the ceasefire agreement regarding the three billion US dollar guarantee and the one hundred million US dollar compensation, Lee Jae-yong felt his heart bleeding.

But the thought that signing it would immediately free him from the sword of Damocles hanging over his head, and that he could even get Cheng Yi to help him kick out Li Fuzhen, made him grit his teeth, quickly read the contract three times, and then pick up a pen and sign his name.

"It's a pleasure to cooperate with you, President Li!" Cheng Yi also finished signing the document, put away the signed agreement, and his smile became more sincere.

In front of Lee Jae-young, he took out his phone and dialed Kong Feng's number, saying, "Stop all cyberattacks against Samsung Group, and have the public relations department remove all negative articles targeting Samsung. Do it immediately."

When Li Zairong saw Cheng Yi making a phone call right in front of him, he didn't know how to describe Cheng Yi.

Shouldn't this kind of thing be done discreetly?
Cheng Yi noticed the surprise in Li Zairong's eyes and couldn't help but laugh, "Surprised?"

"Mm." Lee Jae-young nodded.

Cheng Yi laughed and said, "Even if I tell you that I'm the one attacking Samsung, what can you do to me?"

Lee Jae-yong was taken aback.

He understood Cheng Yi's meaning. Even if Cheng Yi publicly admitted that Momo Group was attacking Samsung Group, so what?
Suing Momo Group?

Just by looking at the two vice presidents of the Handong Provincial Government Affairs Association who were accompanying them, one can already estimate the status of Momo Group in Handong Province.

There is only one way to resolve such international disputes: protest at the United Nations.

Condemning without achieving any results from the protests.

There is no other way.

Cheng Yi smiled and said, "President Li, Momo Group keeps its word. Next, it depends on how President Li pushes forward the hotel divestiture after returning to Samsung. I will contact your sister as soon as possible and try to finalize the agreement before she returns from the United States."

Lee Jae-yong tried taking out his phone and found that the "One-Click" function had indeed been restored.

He let out a heavy sigh and nodded, saying, "Don't worry, Mr. Cheng, I'll convene a board meeting immediately when I get back."

Although Cheng Yi tried his best to persuade Li Zaiyong to stay for a few more days, Li Zaiyong, who was eager to return home, had no interest in being a background figure and immediately took a private plane back to South Korea overnight.

The atmosphere in the top-floor conference room at Samsung Group headquarters was exceptionally somber.

On the huge projection screen was the title of the plan to divest and independently operate the hotel business.

Lee Jae-yong sat in the main seat, downplaying the seriousness of the issue and portraying the hotel industry as a heavy asset burden with low return on investment, severely hindering the development of the group's core technologies.

Lee Jae-young wasn't lying; all of Samsung Group's businesses experienced exponential growth, except for the hotel industry, which remained lukewarm.

While it's not exactly profitable, it can actually generate some income.

Compared to industries like semiconductors, which experience rapid growth, the hotel industry's development can only be described as snail-paced.

"Distinguished board members," Lee Jae-young said slowly, looking around at everyone, "Stripping the hotel business from the core of the group and selling it to an independent operator is a strategic decision I have carefully considered. This will not only optimize the group's asset structure, get rid of the burden, and move forward with a lighter load, but also bring back billions of dollars to invest in more strategic semiconductor and mobile communication research and development. This is a necessary step for Samsung to look to the future."

As soon as he finished speaking, a low murmur arose in the conference room.

To Lee Jae-yong's surprise, the opposition was extremely weak.

Surprisingly, most of the directors and executives showed a hint of relief on their faces.

"President Li is right! The hotel industry ties up too much capital and has a long payback period, so it should have been divested long ago."

"Yes, focusing on our core strengths is the right way."

"But five billion US dollars, that price seems a bit low."

Lee Jae-young immediately said, "50 billion US dollars is indeed a bit low, but the person who will take over is my beloved younger sister, Lee Boo-jin."

Lee Jae-yong's words caused an uproar in the meeting room. Was Lee Boo-jin planning to buy the hotel business?
What's the fuss about?
Many board members knew that Lee Boo-jin had been vying with Lee Jae-young for control of the group.

Now that Lee Jae-yong has suddenly announced that he will transfer the hotel business to Lee Boo-jin, some shrewd people immediately thought of the internal power struggle within the group.

If Lee Boo-jin really wants to break away and become independent, then they would be more than happy to see her.

Only when the group is stable can it unleash a stronger momentum for development.

Seeing that no one was bothering with the price anymore, Lee Jae-yong finally breathed a sigh of relief.

This proposal encountered almost no substantial resistance and was quickly approved by the board of directors with a high vote.

The hotel industry? For these chaebol tycoons who are used to the high profits of electronic technology, piles of steel and concrete and cumbersome services have never been the core of their vision. In addition, they can also smooth over the internal struggles of the Samsung Group, which is more than a disadvantage.

After the plan was approved, Lee Jae-yong immediately sent the draft to Lee Geon-seok.

Late at night, Li Zairong received a transoceanic phone call from his father, Li Jianxi, from across the ocean.

He answered the phone with trepidation.

"You did a great job this time," Li Jianxi's voice came through the receiver, tinged with approval. "You didn't disappoint me."

Lee Jae-yong was overjoyed and was about to say a few words of modesty when Lee Geon-seok hung up the phone.

Lee Jae-yong clenched his fists tightly, feeling a surge of excitement.

No one within the group knew about the agreement he signed with Cheng Yi.

Actoz Group has been the gaming company he spearheaded the acquisition of.

The $30 billion deposit is just a deposit; it will only be deducted when they take action against Momo Group, so it's practically non-existent.

The only thing that pained Lee Jae-yong was the $100 million compensation.

That was all his private savings.

Meanwhile, just as Lee Jae-young's private jet landed in Seoul, a professional team composed of financial and legal elites from Momo Group, armed with a copy of the agreement, headed straight for the headquarters of Actoz Group in South Korea.

The handover process was swift and decisive, leaving little room for the original Actoz management team to breathe or resist.

Faced with the Momo team carrying complete legal documents and the silent attitude of Samsung Group behind them, Actoz's original management team, despite their reluctance, had no choice but to cooperate with the handover within the framework of the agreement.

In less than a week, management was quickly taken over, core server data was migrated, and financial and operational systems were seamlessly switched.

Actoz Group still has considerable residual value, given that they own many popular online games.

Examples include Millennium, Legend, and A3.

At the same time, Li Fuzhen also rushed back from the United States.

Before she left the United States, her father told her to focus on running the hotel.

This statement is both permission and exile.

But now that things have come to this, she has no way out but to seize this opportunity for independence.

It's just that she's a woman.

Under the close watch of their large legal teams, Lee Boo-jin and her brother Lee Jae-young signed a formal agreement to transfer the hotel business at Samsung headquarters.

The massive assets worth five billion US dollars, 19721 hotels and 157 million rooms across Asia, and Shilla, the hotel brand that carries Samsung's glory, have officially changed hands at this moment.

The moment the pen touched the paper, Li Fuzhen was overwhelmed with mixed feelings.

Although she broke free from her brother's constraints and built her own business empire, she also forever lost the right to compete for core power at Samsung.

The day after the contract took effect, Lee Boo-jin quickly registered a new Asia Shilla Hotel Management Company, and appointed herself as chairman and CEO.

The new company's headquarters were not located in Samsung's skyscrapers, but rather in the Shilla Hotel.

Standing in her office at the Shilla Hotel, Lee Boo-jin looked down at the bustling city on both sides of the Han River, her eyes filled with a mixture of ambition and disappointment.

She quickly picked up the internal phone and said, "Notify the heads of the technology and operations departments to have a meeting in the conference room in fifteen minutes."

The hotel industry is entirely controlled by Lee Boo-jin's cronies, which is her most unique advantage.

The acquisition of the hotel property allowed for a seamless transfer of management personnel.

Inside the meeting room, Li Fuzhen pushed a document to the center of the long table.

That was a copy of a strategic cooperation framework agreement signed with Momo Group, with key clauses circled in red.

"Everyone." Her gaze swept over the executives present.

Most of these people were her trusted confidants who had followed her for many years, and each of them had a hint of excitement in their eyes.

Now that those meddling executives from Samsung Group have been removed, they feel like they've been reborn.

“From now on, we will have no relationship with Samsung. Instead, we will be an independent hotel management group. Our first strategic partner is Momo Group from China!” As soon as Li Fuzhen said this, the meeting room fell silent.

Momo Group?

Isn't this Samsung Group's nemesis?
While girls are generally considered to be outgoing, isn't this a bit too much?

Li Fuzhen didn't explain anything to her subordinates. Pointing to the core clause of the document, she said in an unquestionable tone, "Momo Group's computers will be deployed in batches to our 157 million hotel rooms over the next six months. At the same time, we will cooperate in installing Universal Vision's satellite TV receiving equipment in the hotel rooms."

Upon hearing Li Fuzhen's order, the technical director immediately frowned and asked, "Chairman, should we be responsible for this cost, or should Momo Group be responsible?"

Li Fuzhen said, "Momo Group will bear the cost of the first batch of 157 million computers and installation as part of the technology investment. Subsequent network and other costs will be included in our operating cost budget. As for satellite dishes, Huanyu satellite dishes are small in size, easy to install, and the impact on appearance is within an acceptable range. As for approval issues, the Group's legal department will follow up fully. This is an opportunity for our hotel industry to embrace the Internet, and you must complete it for me with high quality and quantity."

Li Fuzhen and Cheng Yi carefully discussed the operational details of the hotel. The more they discussed it, the more Li Fuzhen felt that Cheng Yi's plan could make their hotel business take off.

So she wanted to test whether this young man was really capable.

(End of this chapter)