Chapter 3: Gather and Scatter
“It’s getting harder for our family to gather on New Year’s Day.”
“Work has become more important than family gatherings. You gain one thing, you lose another. You’re no different, Yoongi.”
“Having to give my New Year’s greetings to you at the office instead of at home…”
The brothers exchanged a bittersweet smile over coffee and cheesecake instead of the traditional rice cake soup.
“Yoongi, I’m sorry, but I didn’t come to your office with coffee and cheesecake just to exchange New Year’s greetings. It’s work-related. If it weren’t for work, who knows when we’d see each other.”
“I’m the one who should apologize. It’s customary for the younger to visit the elder during holidays. But as you can see, I’m swamped with work.”
Jin Yoongi gestured to the mountain of paperwork with a shrug.
“You might not see it this way, but I like seeing you like this. So what if we’re too busy to meet often? Meeting because of work isn’t so bad.”
“So, what’s this work about? You’re the busy vice-chairman, after all.”
Jin Yoongi took a bite of the cheesecake his brother had brought.
“Have you been talking to Dojun lately?”
“Is this about Dojun?”
“Yes.”
A frown creased Jin Yoongi’s forehead.
“Don’t think of using me as a messenger. I won’t interfere unless Dojun asks for my help.”
“I’m not asking you to relay a message. Dojun might have something to say to me. I want you to find out.”
“Dojun?”
“Yes. Word around the group is that he’s struggling.”
“What?”
“Have you ever thought that maybe our father forced the company onto Dojun?”
Jin Yoongi’s frown softened, and a smile appeared.
“You’ve noticed too, haven’t you? Dojun’s ambition is enormous. You think someone like that would find the company burdensome? No way.”
“Just because he’s ambitious doesn’t mean he wants everything. Dojun wanted shares in Sunyang Group, not the company itself. Having to deal with the old folks in the office every day is a pain. Even I find it tough.”
It’s hard to argue with that.
Getting a company handed to you is easy and enjoyable, but running it is a different story.
“Dojun’s struggling? Really?”
“Why don’t you check? I heard it through the grapevine.”
“And if he is struggling? Are you planning to take over?”
“Remember when you said you’d sell it to Dojun at a high price? I’m willing to keep that promise.”
Jin Donggi spoke calmly and softly, without a hint of excitement.
“How much are you willing to pay?”
“We’ll have to see the goods first, won’t we?”
“I’ll check. I hope you’re not just testing the waters. Otherwise, you’ll be out of the negotiation table.”
“I hesitated to bring this up. I didn’t want to seem like someone eyeing what my nephew has. So don’t be too rigid. I really need a financial company, which is why I’m bringing this up.”
In the heavy industry sector, where large sums of money move, liquidity issues occasionally arise. In such times, a financial company like a bank is a godsend.
“Alright. A business without ulterior motives. I’ll think of it that way.”
Jin Donggi picked up a piece of cake and smiled.
“Meeting because of work isn’t so bad between brothers, huh?”
“Having a drink after work wouldn’t be bad either.”
Jin Yoongi beamed at his brother.
“Your uncle came to see you?”
“Yes. He visited me. Is something going on?”
Is Vice Chairman Jin Donggi more desperate?
Or is he just trying to verify what he’s heard?
He’s certainly more cautious.
But…
I don’t think he’s using even our father.
“There is something, but just pretend you don’t know. I can handle it.”
“Didn’t you promise to tell me if you had any difficulties?”
“It’s not a difficulty. It seems Uncle wants to confirm something.”
“He said otherwise. He mentioned hearing rumors that you’re having a hard time within the group.”
“How often have rumors been true? It’s a place full of gossip, so don’t worry about it.”
My father studied my expression closely and then gave a slight smile.
“It seems like you wanted the rumors to spread. Alright, I’ll pretend I don’t know.”
This is something Executive Director Jang Dohyung needs to handle smoothly.
The plan is to sell off Sunyang Card, a valuable asset, at a good price.
If he fumbles such an easy task, it would only prove he’s not fit to lead Sunyang Financial Group.
“You’re selling the card?”
“Yes. What would benefit HW Group if we bring something in exchange?”
“Sunyang Electronics.”
Oh Sehyun didn’t hesitate for a second.
“Uncle, are you joking?”
“That’s the only thing that would benefit HW.”
“We’re trading a card. Do you think my uncle is a fool to give up electronics?”
“And you’re not a fool for throwing away a company that earns massive fees and interest? Especially at this time.”
“Is that the end of your lecture?”
“What else can I do? I can only trust you again.”
Oh Sehyun let out a short sigh and said no more.
“If you’ve made offers to both sides, put it up for auction. Sell it to whoever offers even a single won more.”
“I was planning to secure a company, but it seems there’s no rush?”
“If we need something, it’s better to create it ourselves. How about Sunyang Group shares instead?”
That’s what I want most, but no one in their right mind would accept that.
Then, like a bolt of lightning, something struck me.
Why am I being so complacent?
Just because it’s a fight I know I’ll win, I’ve forgotten the urgency?
What I truly need is controlling shares in Sunyang Group. Snatching a few subsidiaries can’t be my goal.
I need to use the card as bait to get those controlling shares. I need to think deeper and find a way.
“You’re right. I should trade the card for shares.”
Oh Sehyun’s eyes widened at my sudden change of tone.
“Are you really underestimating your uncles? Don’t you know how precarious the share structure is? They won’t give up a single share.”
“No. When cornered, they’ll give up shares. Look at Aunt. She gave up the department store group for 1.4 billion.”
“That was a special situation.”
“We need to create that situation. I was thinking too hastily.”
Let’s see who’s greedier.
Is it the eldest son, who openly acts like the owner of Sunyang Group, or the calm and cautious second son, who believes he’s the only one fit to lead Sunyang Group?
In any case, the greedy one will regret it.
“What? You’re selling it, not trading it?”
“Yes. Someone suggested selling it to whoever offers even a single won more.”
“Wasn’t it you who said money wasn’t the issue?”
A card company is a place that prints money like a mint.
Considering its future value, the acquisition cost will be astronomical. No matter how much money Sunyang Group makes, they don’t have that kind of cash on hand. The deal is more likely to fall through.
“Sticking to one statement is just stubbornness. Thoughts and plans should change with the situation.”
“How much are you planning to sell it for?”
“Well, that’s for you to decide, Executive Director. I’ll follow your judgment.”
Jang Dohyung’s face hardened, thinking it might be another test.
“I’m not asking you to set the sale price. Just the starting bid for the auction.”
“An auction?”
“Yes. I want to give the two vice-chairmen a little thrill. Nothing stirs a man’s pride like an auction, especially when the auctioneer is a young nephew. It’ll get their blood boiling.”
“You’re going to do it yourself?”
Jang Dohyung seemed quite surprised by my sudden enthusiasm.
“I’m about to graduate. As a commemoration of stepping into society, I want to have a tense showdown with the two vice-chairmen. I might even see their true colors. Haha.”
Jang Dohyung looked like he was dying of curiosity about what I was thinking as I burst into laughter.
“Now, an auction should be lively, right? Leak it to the press, Executive Director. Say Sunyang Group is withdrawing from the credit card business and plans to sell the company through a public auction after a complete separation.”
Jang Dohyung was already pale, thinking the plan was too grand.
“Why are you so surprised? Don’t you trust me yet? I’ve already told you, haven’t I? I never let go of what’s in my hands. I only leave it with others temporarily out of necessity.”
Well, even Oh Sehyun, who’s watched over me for over ten years, is always anxious, so how could Jang Dohyung, who’s only known me for a couple of months, be any different?
It’s a relief he’s not foaming at the mouth.
“Sunyang Group seems to be showing signs of withdrawing from the credit card business. An anonymous source revealed that Sunyang Card will be separated and sold through a public auction. Although the strategy behind withdrawing from a business often called the ‘golden goose’ wasn’t disclosed, the prevailing view in the industry is that Daehyun Group, which hasn’t yet entered the credit card business, will acquire it.”
“This… this crazy bastard…!”
President Lee Minseop exploded in anger as he read the article in the morning economic section. Unable to contain his rage, he tore the innocent newspaper to shreds.
“Tell Vice Chairman Jin Younggi that I need to meet him immediately. Cancel all his schedules if necessary. This is an emergency.”
Lee Minseop dashed out as soon as he put down the receiver, not waiting for a reply.
When he opened the door to Vice Chairman Jin Younggi’s office, it was already filled with people.
“Looks like you’re the last one to show up, Mr. Lee. Quite the feat for the man of the hour.”
Lee Min-seop flinched under Vice Chairman Jin Young-gi’s piercing gaze and quickly bowed his head.
“I-I’m sorry. I was so shocked by the article that I needed a moment to collect myself…”
“What’s there to be so shocked about? Just a joke, just a joke. Come on, have a seat.”
Only after awkwardly settling into his chair did he notice the tense faces around him.
Vice Chairman Jin Dong-gi, Director Baek Jun-hyuk, President Yang Woo-chan of Life Insurance, and President Go In-kyu of Securities were all seated with grim expressions.
“Alright, I assume everyone’s read the paper… Let’s discuss how we’re going to handle this.”
Jin Young-gi opened the floor, but no one seemed eager to speak up.
It was only President Yang Woo-chan who broke the silence, not with a solution, but with a question.
“Is this article even true? We should first verify if the reporter just picked up some nonsense from somewhere…”
“President Yang, have you lost your touch? This leak came from our side. The target is clear. It’s a proposal aimed directly at me and my brother.”
Jin Dong-gi spoke with a furrowed brow, clearly frustrated.
“A proposal? What do you mean?”
Yang Woo-chan still seemed lost, his eyes darting around in confusion.
“Buy Sunyang Card at a high price, or we’ll sell it to Daehyun Group… Get it? Our clever nephew’s got a plan.”
When Jin Dong-gi raised his voice, Yang Woo-chan flushed and lowered his head. He couldn’t believe that kid would pull something like this…
“Mr. Lee Min-seop, what do you think?”
“Sorry?”
Startled by Jin Young-gi’s sudden question, Lee Min-seop was caught off guard. Seeing his reaction, Jin Young-gi couldn’t help but let out a frustrated sigh.