A Slice of Pie 2
Chairman Jin took it a step further, almost as if he were teasing.
“Oh, and make sure you personally oversee the professional team.”
“Father…”
“What?”
Jin Sang-gi fell silent under the chairman’s piercing gaze, like a cat got his tongue.
“Are you dissatisfied? Upset that I handed you a mere foundation to manage?”
“No, not at all.”
Jin Sang-gi clamped his mouth shut at his older brother’s signal. After all, hadn’t he already decided to align himself with Vice Chairman Jin Young-gi?
He believed his older brother wouldn’t just leave him to manage the foundation.
His older brother cautiously asked on behalf of everyone.
“Father, then who will handle the finance sector?”
“For now, I’ll keep an eye on it. Why? Are you eager to shove me into a back room as a has-been?”
“Please, don’t say such things. Not at all.”
Jin Young-gi quickly waved his hands.
“Well… I wanted to split it up too, but sorting out the shares is incredibly complicated and will take time.”
The chairman offered a plausible excuse, but no one in the study believed him.
The true owner of the group’s financial sector wasn’t in this room. They were certain it was the cunning youngest son, who was outside charming the elders.
“Starting this year, we’ll begin organizing the shares as I’ve divided them. Once that’s done, we’ll split the finance sector too. Be patient.”
Could those words be true? The children couldn’t completely abandon hope.
It was acceptable to give Sunyang Asset Management to the youngest, but not the rest.
There was still time. They had to prevent the group’s financial resources from falling into the wrong hands.
This was the shared thought of the three sons.
“That’s enough for today. I didn’t allow the executives and directors to come for New Year’s greetings today. They’re probably waiting impatiently outside your homes. Go and give them some pocket money.”
As the five children filed out of the study, leaving only Chairman Jin and Lee Hak-jae, the chairman let out a long sigh.
“Even when I give them something, they’re dissatisfied.”
“Perhaps because they know it’s not entirely theirs.”
“They can’t just sit and wait for things to fall into their laps. Now that I’ve marked the territories, if they want more, they should take it.”
Lee Hak-jae smiled gently.
“You don’t really want to split the group, do you?”
“Korean companies can only survive if they stick together.”
“Sorry?”
Chairman Jin suddenly threw out an unexpected comment.
“Individually, they’re nothing special. Take Sunyang Electronics, for example. Semiconductors, home appliances, mobile phones—they support each other and rise together. Without semiconductors, the home appliance division would have shut down.”
“Like how heavy industries bolstered Sunyang Shipbuilding’s competitiveness?”
“Exactly. Without life insurance, many companies would have closed due to lack of funds.”
Then why not just give everything to one person instead of playing these games?
Lee Hak-jae had asked himself this question countless times, though he never voiced it.
If Chairman Jin were younger, he might have already chosen someone. But now, as an old man, he had too many thoughts.
He probably wanted to give Sunyang Group to all his children, but he had to choose between dividing it or giving it all to one. And the more he thought, the more he delayed the decision.
Today, a new variable had emerged.
The loyal retainers who had silently nurtured and protected Sunyang. Without their support, even what was already gained might be lost.
The family hurriedly left Chairman Jin’s mansion, causing a commotion. The daughters-in-law and grandchildren, unaware of the situation, were ushered out as if being chased.
As they each got into the waiting cars in front of the main entrance, Jin Young-gi called out to his brother.
“Yoon-gi, can we talk?”
Once they moved to a quieter spot, Jin Young-gi lit a cigarette.
“Did you have any prior discussions with Father?”
“About what?”
“The finance affiliates.”
“No, I heard about the separation today for the first time too. Though it’s not particularly surprising. Oh, I was a bit surprised about our sister.”
“Is that true?”
“Brother, stop beating around the bush. What are you trying to say?”
“Isn’t it possible that the finance sector is set aside for Do-jun?”
As Jin Young-gi scrutinized his brother’s expression, Jin Yoon-gi nodded.
“I think so too.”
“What?”
“Even though Do-jun is young, hasn’t he already shown exceptional investment skills? It’s hard to find someone more suitable to handle Sunyang’s finances.”
“Hey!”
Jin Young-gi shouted, frustrated by his brother’s calm demeanor.
“This isn’t about handing over a bank account!”
“Whether it’s a bank account or a financial company, it’s all money. The size doesn’t affect suitability.”
“This isn’t about suitability. Do you know how much equity Sunyang Life holds in the affiliates?”
“Doesn’t Sunyang Corporation hold a similar amount? And even the relatively insignificant Sunyang Precision Machinery holds a fair amount of group shares. It doesn’t seem like the shares were divided based on equity. They were grouped by affiliate.”
Vice Chairman Jin Young-gi began to glare at Jin Yoon-gi, who was responding without backing down.
“So? Now that a financial company with significant shares is coming your way, are you planning to claim a spot in Sunyang Group? After living quietly, are you now showing your claws through your son?”
Jin Yoon-gi sighed deeply and bit his lip.
“It’s not mine. I only have the hospital and the training center. You heard Father…”
“Hey! Are you seriously saying that? Are you asking to be seen separately from your barely twenty-something son?”
“I never asked for that.”
Another sigh escaped him.
“Brother, if Father had said he was giving me the finance sector, I would have stepped aside. Honestly, I’m not interested. But if he’s passing it to my son, I can’t tell him to give it up. As a parent, I haven’t given him a decent bowl to eat from. I can’t break the bowl he’s inherited.”
Seeing his brother remain calm, Jin Young-gi also took a deep breath.
“Let’s be realistic. How long do you think Father will live? What if Do-jun takes over a financial company in his mid-twenties?”
Honestly, Jin Yoon-gi couldn’t picture a good outcome either. No matter how smart his son was, he couldn’t surpass experience.
“If Do-jun rises in a divided Sunyang Group, the vultures in Yeouido will swoop in. They’ll fight to take over a massive insurance company that’s practically ownerless. Can you protect your son?”
Jin Yoon-gi looked at his older brother for a moment before moving away.
“Aren’t we pathetic? We’re counting our chickens before they hatch.”
“Yoon-gi!”
Ignoring Jin Young-gi’s call, Jin Yoon-gi quickened his pace. It was clear no good would come from this conversation. He didn’t want to engage in a fruitless argument on the first day of the new year.
Like relatives suddenly heading home, our family also stepped outside. As we were about to get into the car, my uncle called my father over with a serious expression, and we waited for him.
That’s when I spotted a familiar face waiting by the entrance and ran over.
“Manager Kim.”
“Ah, Director.”
Manager Kim Yoon-seok greeted me warmly, shaking my hand firmly.
“How are you feeling? Any discomfort?”
“I’m fine. I’ve lost some muscle and become a bit weak, but I’m managing my health, so I’ll be back to my old self soon.”
Seeing him pat his thigh as if it were nothing, a wave of sympathy washed over me.
I knew all too well the life where you couldn’t rest even if you were sick, where you had to work as long as you had the strength to move.
“Why didn’t you reach out? I heard from Grandfather that you were assigned under Director Lee Hak-jae.”
“Well… I was strictly ordered not to contact you.”
Manager Kim scratched his head sheepishly.
Grandfather, wanting to test his potential, had done something unexpected. Director Lee Hak-jae, of all people…?
At first, I worried about how long he could last, but I hadn’t heard of him being fired. Seeing his bright demeanor, it seemed he was managing well enough.
“How is it? Is it manageable?”
“It’s good.”
Manager Kim smiled gently, not in an exaggerated way, which was nice to see.
“I feel like I’ve caught a glimpse of how someone at the top lives.”
“How does he live?”
“To me, it seems like he performs magic.”
“Really?”
“Yes. He ensures the chairman’s orders are evenly distributed throughout the group… He coordinates everything with incredible precision. He cajoles and scolds the executives and directors, walking a tightrope with finesse.”
Manager Kim’s face showed admiration and respect as he spoke.
“You must be learning a lot.”
“I’m still far from it. You need the capacity to learn. I’m still struggling to grasp what’s what.”
“If you listen carefully and observe closely, you’ll see it eventually.”
It wasn’t just a simple encouragement. It was something I had learned from experience. Just then, I heard someone calling me from behind.
“Do-jun!”
I turned to see my cousin, Sang-jun, gesturing for me.
“See you later. I’ll be waiting for the day Manager Kim returns to me.”
Leaving Manager Kim, who bowed his head in farewell, I ran towards the car.
On the first day of the new year, the homes of Jin Young-gi and Jin Dong-gi were bustling with New Year’s gatherings that resembled executive meetings.
They were no longer just the chairman’s children but had become bona fide vice chairmen and power holders with the authority to appoint executives in their respective affiliates.
Jin Seo-yoon was no exception.
Seeing the executives and directors waiting outside her home, eager for her return, made her feel like she was on cloud nine.
Their attitudes and gazes were markedly different from just the day before.
Gone was the arrogance of those who reluctantly submitted documents for approval simply because she was the chairman’s daughter.
Now, they entered her home on tiptoe, careful not to make a sound.
“Please, everyone, take a seat. Let’s skip the New Year’s greetings and get straight to the urgent matters at hand.”
Jin Seo-yun was the first to distribute the financial reports.
“These are our debts. Starting this month, we have to pay a significant amount of interest to the main office. We need to come together and devise a financial strategy.”
As soon as they saw the numbers, everyone frowned. Already hit hard by the IMF crisis, they seemed to sense the looming financial pressure.
Ignoring their troubled expressions, Jin Seo-yun continued.
“Now, let’s move on to the first personnel announcement. President of Seocho Department Store.”
“Yes.”
“You will be reassigned as the President of Myeongdong Department Store. And the current President of Myeongdong Department Store will be appointed as the CEO of Sunyang Distribution. Focus all your efforts on making the new large discount store chain a success this year.”
“Understood.”
It was obvious that a close ally needed to be placed at the helm of Sunyang Distribution, the future parent company. The new CEO of Sunyang Distribution seemed to have anticipated this, maintaining a calm demeanor.
“The CEO of Sunyang Distribution will be appointed as the President of Seocho Department Store. Ensure a smooth transition of responsibilities.”
“Yes.”
Once the key positions are filled, the rest will naturally fall into place.
Seeing the seasoned executives unable to move, it was clear that their father had given them strict instructions.
Today’s announcements from their father were not a test or a way to gauge his children. It was evident that he had truly decided to break up the group.
So, does this mean the financial sector of the group will really go to the young Jin Do-jun?
Jin Seo-yun recalled the promise made to his nephew.
An equal half…