Independence 1
“10%?”
“Yes, Vice Chairman. Four main subsidiaries and six affiliates have been transferred. The controlling shares are held by Sunyang Life.”
Vice Chairman Jin Young-ki felt a wave of relief wash over him.
He had never seen his father show such affection towards any of his children, so he had been anxious. But considering the affection his father had shown recently, it was unexpected.
“Here are the detailed shareholding documents. Please review them.”
Jin Young-ki quickly snatched the papers his secretary handed over.
Jin Young-ki: 36% Jin Dong-ki: 33% Miracle: 16% Jin Do-jun: 10%
“And the remaining 5% is with the executives?”
“Yes, sir. There are 34 in total, with 21 retired and 13 currently active. The detailed list is at the back.”
Jin Young-ki skimmed through the list, frowning.
“Damn it… They’re all my father’s loyalists.”
“Yes, only the Chairman can reclaim those shares. But since they were given in recognition of their contributions, he likely has no intention of taking them back.”
“Contact these people immediately… No, let’s wait. If we stir things up, it’ll reach my father’s ears.”
“Indeed. We have some time, so you can proceed cautiously.”
The secretary felt relieved seeing Jin Young-ki’s calm demeanor. It was just yesterday that the thought of contacting the executives holding 5% of the shares crossed his mind. A single call would have reached Chairman Jin in no time.
Wouldn’t he just end up being labeled as a reckless fool?
“Keep a close watch on Dong-ki’s movements. Assign more people, and report every single meeting he has.”
“Yes, Vice Chairman.”
Jin Young-ki thought of Jin Do-jun’s face.
There’s no need to take the shares from that kid. He just needs to be turned into a loyal ally. A dog grows with its owner’s love.
By consistently showing the image of a kind uncle, he could slowly make him his own. There’s no need to rush.
After all, there’s not much one can do with just 10% of the shares.
“I’ve told you countless times that I don’t care about the visible share structure! Is this all the Sunyang Group shares there are?”
Vice Chairman Jin Dong-ki shouted, throwing the documents the chief secretary handed him.
“Identify all external entities or individuals that can influence the group. Don’t you know that if they band together, every Jin in the Sunyang Group could be ousted?”
“V-Vice Chairman, that’s…”
The chief secretary had to endure Jin Dong-ki’s sharp outburst.
Aren’t they shareholders who don’t exercise voting rights anyway? Banks, investment institutions, and public entities holding significant shares in Sunyang Group’s major subsidiaries show little interest in internal management.
These institutions hold Sunyang Group shares not much differently from bank deposits. It’s just part of a diversified investment strategy, not an attempt to secure management rights.
The same goes for individuals.
Especially those who have held shares for a long time see them as part of their assets and have never exercised their voting rights to participate in management.
The current variables are the shares held by executives, Miracle, and Jin Do-jun.
“What? Are you going to cry that it’s impossible to figure out?”
“N-No, sir.”
“Listen carefully. There are definitely shares distributed under borrowed names. Don’t you know my father yet?”
Jin Dong-ki glared at the chief secretary as if he could kill, but his gaze was truly directed at his father.
Chairman Jin’s lust for power far exceeds what ordinary people can imagine. He won’t relinquish that power until his last breath.
He surely hasn’t let go of the final trump card that could deliver a decisive blow. He’s hidden it with institutions or individuals.
“Vice Chairman, honestly, the institutions will move according to the Chairman’s wishes. For now, at least. But they can sense power shifts like ghosts. As you build your strength, they’ll naturally support you.”
Seeing the chief secretary’s tense expression as he tried to calm his excitement, Jin Dong-ki felt his anger subside.
“Thank you.”
“My apologies.”
The chief secretary sensed the sincerity in Jin Dong-ki’s words.
“But we should still identify individual shareholders, right?”
“Yes, especially the list of long-term holders.”
“Right. Oh, and there might be those under borrowed names. So focus on those hard to track, like…”
“People with unknown residences, immigrants, long-term overseas residents.”
“Yes. Make sure to find them.”
“Understood. And Vice Chairman, shouldn’t we at least have some safeguards?”
“Safeguards?”
“Yes, regarding your nephew Jin Do-jun and Miracle. I believe the link between these two shareholders is your brother, President Jin Yoon-ki. As long as you maintain a good relationship with him…”
“53%! I’m the owner of Sunyang Group.”
“Indeed. It’s no exaggeration to say President Jin Yoon-ki holds the group’s future.”
“I can’t leave the sword in someone else’s hands, can I? Mobilize the funds from my companies to buy up the scattered shares in the market. We need to see how much we can secure.”
“Understood.”
As the chief secretary bowed and left, Jin Dong-ki picked up the phone.
First, he needed to gauge his brother’s intentions.
Chairman Jin Sang-ki was chain-smoking.
As the third son of Chairman Jin Yang-cheol, he was a legitimate heir. If he had been given even a few minor subsidiaries, he might not have felt this level of humiliation.
He hadn’t done anything particularly wrong or caused any trouble.
Even his children were well-behaved compared to others in the family. They hadn’t even been caught for something as common as drunk driving.
Yet, he was completely sidelined, while his nephew, who was just starting to shed his childishness, was handed four main subsidiaries!
Strangely, his anger wasn’t directed at his nephew or father.
Jin Sang-ki’s fury was aimed at his eldest brother, Jin Young-ki.
“Damn it, I’ve been playing second fiddle for too long.”
Because of that, he had become invisible.
He had no reason to converse with his father. His elder brother handled everything.
He never had a reason to enter his father’s study.
His father never sought him out.
The result was this worthless position as the chairman of a foundation.
When he first became chairman, he had a glimmer of hope.
He scoured the foundation’s assets, like a treasure hunt.
The hope that his father might have hidden shares there crumbled in less than a week.
All he found were scholarships for kids.
Chairman Jin Sang-ki resolved to claim the rights he deserved from his brother.
College days were over.
After finishing my finals, I drove to keep a promise my father had earnestly made me swear to uphold.
“I know you want to hang out with your friends now that exams are over. But we’re always too busy to spend the holidays together. You, me… So let’s at least have dinner as a family tonight.”
He must know I don’t have friends to party with at the end of the semester, yet he insisted on making time like this.
The dinner venue my father mentioned was a building in Sangam-dong, and the top floor was a rather stylish fusion restaurant.
“Did you do well on your exams?”
My brother, Sang-jun, greeted me with a smile.
“As long as I don’t fail, it’s fine.”
“Good job. Now you just have to graduate.”
My mother patted my back and made room for me.
My father, who arrived last, beamed at the sight of the family gathered together after a long time.
“Honey, how do you like it here? Isn’t the atmosphere nice?”
“It’s lovely. But why is there not a single customer? It’s a bit early, but… Is business bad?”
“Heh heh. It’s opening on Christmas Eve. It’s not officially open yet.”
“Could it be…?”
As my mother tilted her head in curiosity, my father held her hand tightly and said,
“I prepared this because it seemed like there wasn’t a good meeting place for the Sangam-dong associates. It’s in your name.”
“What?”
“The general manager here is very capable. I scouted him for a hefty sum, so you just need to show your face occasionally. Now that the kids are grown, you need something to keep you busy, don’t you?”
Oh! My father, how romantic!
“Congratulations, Mom.”
Sang-jun was the first to offer his congratulations, and my mother’s bewildered expression brightened.
“Come on, let’s eat first. Try the signature dishes here and give your feedback. The chef studied properly in Italy and France, so it should be good.”
During the meal, my father didn’t mention that I had inherited Sunyang’s financial subsidiaries. It was undoubtedly because of my mother.
She desperately wanted our family to stay a step away from the Sunyang Group.
If she knew I had become the eye of the storm, she’d lose sleep over it. Since the most serious topic wasn’t brought up, the family conversation was warmer and more harmonious than ever.
“Father, are you planning to use this entire building?”
“Hmm? How did you know?”
How could I not? All the company names on the building’s lobby directory were my father’s. Plus, the building’s name was ‘Hyun.’
Isn’t that the ‘Hyun’ from my mother’s name, Lee Seo-hyun?
“Father, anyone who can read would know.”
Sang-jun laughed as he spoke.
“Is that so? Haha. Oh Se-hyun was clinging to it. I got it cheap.”
“Are you switching to a holding company system?”
“Yes. I named it ‘Hyun Holdings.’ We’ll start next year.”
My father looked at my mother affectionately as he spoke.
“How do you feel seeing a building with your name on it?”
It’s so cheesy.
At his age, this kind of childishness…
I must have inherited more from my mother. I thought she’d be delighted like a young girl, but she sighed.
“Please, not in front of the kids… That’s enough.”
Under my mother’s stern gaze, my father subtly changed the subject.
“We’re planning to gather all the production companies, agencies, and cable networks here. Even the ones scattered around Gangnam. It’ll be easier to manage that way.”
It seemed like he had timed it perfectly with my graduation.
Just as I was considering building a house in Sangam-dong for my father’s convenience, he surprised me with an unexpected suggestion.
“Now that Do-jun is graduating, how about you two move out next year? Seeing my wife still cooking for grown men makes my heart ache. It’s time to stop relying on her and become independent.”
“Honey!”
My mother, taken aback, tried to stop him, but my father just kept smiling.
“It’s fine. We can’t keep you under our wings forever. It’s only natural for children to leave the nest when the time comes. Worrying about making a living is your problem now. Let’s enjoy our lives like we did when we were newlyweds.”
It was an order I couldn’t be happier to receive.
“I’d like to downsize and move to a more manageable apartment, but with all the guests we have, that’s not possible…”
“I’ll keep a room open for you at the Sunyang Hotel. You can drop by and enjoy your second honeymoon whenever you like. Consider it my independence gift to you.”
“Wow, our son is really generous! We’ll make good use of it, ha ha.”
Despite my father’s hearty laughter, my brother Sang-jun couldn’t bring himself to join in. He kept his head down, silently shoveling food into his mouth.
“Sang-jun, lift your head. Did you do something wrong?”
He must have felt like a criminal.
His younger brother was already handling vast sums of money and making their parents proud, while he felt like nothing more than a burden.