Chapter 4: The Game of Power
“Mr. Jin Do-jun, don’t try to act like a conglomerate chairman.”
He tried to hide his irritation, but his face betrayed him. He wasn’t yet a corrupt politician.
“Real conglomerate heads don’t talk about money directly. They have people to handle that for them. If I bring up money, it’s a gesture of goodwill, like giving pocket money. And when you give pocket money, you don’t expect anything in return.”
“Don’t label money. Its size is its name. If it’s big, it’s a bribe; if it’s small, it’s pocket money. Isn’t that right?”
“Size is relative… but I’m not here to argue semantics. If I offended you, I apologize.”
What might be pocket change to me could be life-changing for someone else. He wasn’t wrong.
The economic advisor waved his hand dismissively.
“I didn’t say it to get an apology. I just meant we should be careful. Anyway, I understand.”
“Can I take that as a positive response?”
“No. It’s hard to say right now. But I think it’s worth trying.”
That’s not enough. I need a firm answer. If things go wrong, I’ll only walk away with 800 billion won in cash and lose everything else—shares, the card company. I didn’t spend three years preparing just for a few billion won.
“Advisor.”
“Yes?”
“Something worth trying? I’m not here to confirm that. It’s not just worth trying; it’s an excellent plan. I’ve met with everyone from the Financial Services Commission to Miracle Investment’s CEO Oh Se-hyun to persuade them.”
Unlike the economic advisor, I didn’t bother hiding my displeasure.
“Isn’t this the first crisis this government faced? I’ve given you a chance to tackle it head-on and showcase the administration’s strength. And you say it’s just worth trying?”
The economic advisor was taken aback by my sudden change in demeanor, but I didn’t give him a chance to speak.
“Miracle won’t be pleased with this hesitation. Acquiring a failing company is a risky business. The government should act before Miracle changes its mind.”
“Mr. Jin Do-jun, let’s calm down…”
I stood up abruptly, watching his flustered expression.
“I’ll give you one hour. If I don’t get a definitive answer by then, consider it off the table.”
“One hour?”
“Aren’t you the Senior Secretary to the President? Call the relevant ministers and report directly to the President. One hour should be enough. Delaying further would cast doubt on the administration’s resolve, and that doubt will grow into distrust that this will be handled properly. If that happens, I’ll walk away. Goodbye.”
I bowed politely and turned to leave.
When pushing someone, you can’t give them room to breathe.
That hour felt like a year.
I was confident, but I couldn’t completely ignore the cautious nature of bureaucrats. I paced restlessly, unable to sit still.
“You’re making me dizzy. Sit down.”
Oh Se-hyun was relaxed. Even if this deal fell through, securing 800 billion won meant it wasn’t a loss for him.
But for me, it was about getting 7% closer to my grandfather’s study, something far more important than 800 billion won.
“Don’t worry. The scenario is solid. No one plays the villain, and no one loses—except us.”
“Us?”
“Yeah. You’re doing this because you believe in the future of the card business. If it stays as it is, it’ll be a huge loss.”
“Uncle.”
“Yeah?”
“How much cash do you have in your wallet right now?”
“What? Why do you ask?”
“Take a look. You probably have more cards than cash, right? Except for emergency checks, it’s all cards, isn’t it? That’s the future of the card business.”
As Oh Se-hyun rummaged through his wallet, my phone rang.
It was exactly one hour since I left the economic advisor.
“Yes, Advisor.”
― We just finished the meeting and decided to proceed with the plan.
The voice on the phone sounded weary.
“Yes. I’m with Miracle’s CEO Oh Se-hyun right now. I’ll inform him immediately.”
― And you mentioned wanting to complete the acquisition process by the first half of the year?
“Yes. Is there a problem?”
― No, just confirming if it can be done faster. To minimize the impact, we need to act swiftly. That’s our final decision.
That was music to my ears.
“Give me the timeline, and we’ll follow it. We can handle it within a month. The acquisition funds are already prepared.”
― Good to hear. I’ll be in touch.
“Thank you, Advisor. And I apologize for my earlier rudeness.”
― No need to mention it. It’s just business. Haha.
A refreshing laugh came through the phone.
― The government announcement will be the signal. Let’s coordinate well.
I ended the call and smiled at Oh Se-hyun.
“It’s done.”
Oh Se-hyun clapped his hands and burst into laughter.
“Haha! We’re reaping the rewards without any investment. Your uncles are going to be caught off guard.”
“The eldest uncle will be the most shocked. He lost 800 billion won in just two months. Haha.”
I was curious to see how his arrogant expression would change.
“Vice Chairman, we can’t just sit back and watch. We need to propose a strong self-rescue plan. This is serious.”
“It’s been a while since we stopped cash services. The financial sector’s complaints are growing.”
Several card company executives, gathered in the vice chairman’s office, were sweating as they voiced their concerns to Vice Chairman Jin Dong-gi. They felt the urgency and couldn’t afford to be cautious any longer.
“Consumers have already accepted the service suspension as a given, haven’t they? They only use it for purchases, right? Let’s hold on a bit longer. We’ll solve everything in one go.”
Though he appeared more composed than the executives, Vice Chairman Jin Dong-gi’s hollow eyes suggested he wasn’t sleeping well either.
“Vice Chairman! There’s a big problem.”
Suddenly, the door burst open, and a secretary rushed in, not bothering to knock, and turned on the TV.
“What is it?”
An executive frowned and shouted, but when he saw the TV screen, his mouth dropped open, and he couldn’t say a word.
The TV was showing a morning drama, but a breaking news ticker scrolled across the bottom.
That’s in two days.
In just two days, the company’s only product, credit cards, would become mere pieces of plastic.
The executives’ phones were already ringing incessantly. Vice Chairman Jin Dong-gi’s phone was no exception.
But no one answered. The executives ignored the noisy phones and focused solely on Vice Chairman Jin Dong-gi.
“Everyone, go find out what’s happening. And start controlling the media. Quickly…”
His face was pale, and his voice trembled, revealing the extent of his shock.
The executives rushed out, and Vice Chairman Jin Dong-gi sat with his head down, breathing heavily.
Once his breathing calmed, he stood up. With things at this point, he had no choice but to play his last card.
Heading to his brother’s office, Vice Chairman Jin Dong-gi pressed his lips together tightly.
“Come in. I’ve been expecting you.”
Vice Chairman Jin Young-gi was already watching the breaking news on TV.
”…The suspension of Sunyang Card operations is known to be the new government’s most decisive action. This marks a new phase in the card crisis.”
“Despite demands for strong self-rescue measures, Sunyang Card showed no response. The business community sees this as a warning of the government’s strong will to resolve the card crisis quickly.”
“Sunyang Group has not made an official response to the government’s action.”
Vice Chairman Jin Young-gi turned off the TV.
“This government has some guts, doesn’t it?”
“This isn’t your doing, is it?”
“I’m not close with this government. Even if I were, this isn’t something I’d do. I’m telling you clearly, I have nothing to do with it.”
Jin Young-gi shook his head.
“Two days left. What are you going to do?”
“I can’t let the company go under. I have to save it. So, I need an emergency support of 400 billion won.”
“From me? I don’t have that kind of money.”
Jin Young-gi’s eyes, looking at his brother, were already those of a victor.
“I’ve already told you what I’ll do if I’m pushed to the edge.”
“Oh, you mean selling off the group’s controlling shares?”
Jin Young-gi snorted, and Jin Dong-gi felt a creeping unease. Why was he so calm?
“If selling them can save the company, then do it. That’s the role of a responsible leader.”
“Brother!”
Jin Young-gi tossed a file onto the table.
“Timing is everything. Your threat is past its expiration date. Take a look.”
Jin Dong-gi hurriedly opened the file.
“This… this is…”
“I signed it a few days ago. Now you owe me 800 billion won. If Sunyang Card collapses, I gain an additional 7% stake. I have no reason to help you anymore. In fact, I’m almost hoping for it to fail. I’m so grateful to this government. I regret not adding a few more billion to the campaign funds.”
Jin Dong-gi read the contract in his trembling hands over and over.
“Do-jun, that little brat…!”
“Don’t blame the young nephew. He was quite wary of you. But what could he do? He might lose 800 billion won.”
“Do you think my collateral is only worth 800 billion?”
“You know as well as I do that there are some stocks money can’t buy. But now it’s clear, isn’t it? That Do-jun values money more than controlling the group? He’s young, but he’s quick to calculate. He’s realized that taking over Sunyang is impossible.”
Jin Dong-ki felt a pang of doubt. Despite being young, his nephew’s ambition seemed greater than that of the two men in the room. He had always thought Do-jun would hold onto his shares no matter what. Had he misjudged him?
“My shares are now at 43%. Just 8% more, and my name will be on the chairman’s office of Sunyang Group. It’s only a matter of time. Convince the executives, and offer a few subsidiaries to Do-jun or Oh Se-hyun, and it’s done.”
Jin Young-gi teased his speechless brother with a mocking tone.
“Oh, are you thinking of handing over your shares? Then I’ll let you keep your position as vice chairman and the subsidiaries you currently manage. I know you have a good business sense. And after all, we’re blood brothers. Family is better than strangers, no matter what anyone says.”
Jin Dong-ki couldn’t bear to listen to his brother’s taunts any longer.
He realized that no solution would come from this meeting. The only person who could save him from this precipice was his father.
As Jin Dong-ki was about to storm out, Jin Young-gi’s sharp voice pierced his back.
“Make sure to check tomorrow’s headline in the Hanseong Daily.”
“What?”
“I’m sending a signal that it’s open season on Sunyang Group for the media. You’ll be branded a shameless executive overnight. No one will want to meet with you. You won’t escape.”
To think that the same person who had just been talking about family could say something like that.
Vice Chairman Jin Dong-ki gritted his teeth and slammed the door behind him.