No Room for Complacency 1
“What do you think?”
“About what?”
“Chairman Joo Kwang-sik.”
“Huh? Chairman Joo? What’s up with him?”
“Uncle!”
I finally shouted at Oh Se-hyun, who was still pretending not to understand.
“Come on, you should have figured it out by now. You’re usually so quick on the uptake, what’s going on?”
How could he cut me off so abruptly? Just a month, no, two weeks ago, he was glued to several monitors, keeping a close eye on the financial markets, and meticulously reviewing every report from HW Group.
Yet, after sending out a company-wide email, he seemed more relaxed than a soldier counting down the days to discharge.
Citing mental and physical exhaustion, he announced an extended leave, instructing department heads to handle investments and report to me daily.
Acting CEO—that was the label I was given.
“Be grateful I didn’t officially retire and left you in charge. Keep bothering me, and I’ll call a board meeting to elect a new CEO.”
“Wouldn’t it be a good idea to meet Chairman Joo Kwang-sik for one last business meeting?”
“No, it wouldn’t. Expanding my network now is pointless. I’m planning to build connections with the locals at a resort. You handle it.”
I couldn’t push any further.
This was effectively his retirement day.
“Then at least give me a hint. Why does Chairman Joo want to meet the Miracle CEO?”
“Isn’t it to discuss the acquisition of Daehyeon Card?”
“What if it’s not?”
“Then he’s probably trying to use Miracle for something.”
“What do you think he’s using it for?”
“That, I don’t know.”
This felt like a senior soldier teasing a new recruit.
“All I know is he insists on meeting me, which means he needs a certain ‘picture.’”
“A picture? Oh! A picture of having an important conversation with you?”
“Probably.”
The real question is why he needs such a picture, but I have no way of knowing. As I was pondering, Oh Se-hyun chuckled.
“Alright, I’m in a good mood. Call Chairman Joo.”
“What?”
“Before I change my mind, hurry.”
I was a bit anxious about what he might say, but given his vast experience, I trusted he wouldn’t make a mistake.
“Just a moment.”
I quickly dialed the number on my phone.
“Chairman, this is Jin Do-jun.”
After a brief greeting, I handed the phone over.
“I’m sorry to greet you over the phone, Chairman.”
Oh Se-hyun began the conversation in his usual friendly tone. After exchanging a few pleasantries, he got to the point.
“Chairman, if you have anything to discuss regarding the Daehyeon Card acquisition, please talk to Director Jin Do-jun. I’ll leave the decision to him and follow his conclusion. So, please finalize this matter with Director Jin Do-jun. Then….”
Oh Se-hyun abruptly ended the call and tossed the phone back to me.
“All set? Now it’s up to you.”
He turned his attention back to the monitor.
“Stop bothering me and get out. I have a lot of emails to send.”
“Director, no matter how I look at it, this is an exaggeration. The urgent funds Daehyeon Card needs don’t even amount to 200 billion won. Yet they’re talking about a sale…?”
Vice President Jang Do-hyung placed a thick file on the desk.
Judging by the worn edges, it seemed thoroughly analyzed.
“What about the money borrowed from affiliates?”
“We haven’t pinpointed the exact amount. But those affiliates are also under Chairman Joo Kwang-sik. There’s no urgent need for repayment.”
Vice President Jang spoke with conviction.
“As I mentioned in the last report, the government views this favorably. There’s no external pressure.”
Jang glanced at me cautiously before speaking again.
“If they’re eager to sell despite no apparent issues, it means there’s an internal ticking time bomb, or they have another agenda. I hope we don’t get caught up in it.”
I have no reason to dance to Chairman Joo’s tune. It’s time to let go of greed and view the company from a different perspective.
“Vice President.”
“Yes.”
“Develop a strategy to target Daehyeon Card.”
“What?”
“We need to capture Daehyeon Card’s main customer base. We need a strategy that’s blatantly obvious to Daehyeon.”
“Oh…!”
“I want to see what’s beneath the surface. If there’s no major issue, they’ll hold out for a while. If there are problems, their true colors will show quickly. We’ll decide on the acquisition then.”
“We’ll launch a new card offering similar services to Daehyeon Card or add those services to our existing cards and launch a major ad campaign.”
Vice President Jang had a fighting spirit.
The moment I suggested a showdown, he was all fired up.
“Yes. But before the ads, we need to spread rumors, right? Make sure Chairman Joo hears about Sunyang Card’s new services first.”
“Of course. I’ll start meetings with the financial sector on this topic. It’ll reach Daehyeon soon enough.”
I was ready for the storm. While others were swept away, I thrived, teetering on the edge of arrogance.
I must break free from the illusion that everything around me is my trophy. If it’s not essential, there’s no need to grab it. I mustn’t lose my discernment in the pursuit of expansion.
But I must also ensure that anyone trying to use me never dares to think of it again.
“Oh dear, my nephew. Are you upset with me? Why are you avoiding me so coldly?”
“It’s not that. I’ve just been swamped with work lately. I’m sorry.”
“No, no. No need to apologize. It’s the one in need who digs the well. I was just being dramatic. Haha.”
Chairman Joo Kwang-sik laughed heartily, but he couldn’t hide the flicker of uncertainty in his eyes.
“By the way, I heard the news. CEO Oh Se-hyun is taking a break?”
“Yes. He said it’s a sabbatical. He pushed himself too hard and ran out of energy. He’s taking a year off to recharge.”
“He’s got it easy. Taking a year off in these tough times? Impressive.”
Who could have it easier than someone born into a chaebol family like you? Just by being the founder’s child, you get titles like CEO or Chairman without much effort.
Meanwhile, people like Oh Se-hyun earn those titles by sheer hard work. Hearing you say he’s got it easy is an insult to them.
I wanted to retort but held my tongue.
“The doctor’s diagnosis was absolute. He warned that continuing like this would ruin his health.”
“Well, tsk tsk. How can you trust doctors completely? Their job is to say you’re sick. If they said you were fine, who’d visit them?”
“Anyway, he’s made his decision, and he won’t change it.”
“So, are you filling in for him?”
“Not entirely. I’ll filter the investment-related matters and consult CEO Oh for anything I can’t decide.”
“I see. But I heard he’s leaving the card company acquisition to you. That’s not an easy decision, is it?”
He still wanted to meet CEO Oh Se-hyun. Time to shatter that expectation.
“Uncle, you’re being quite oblivious.”
“What? Me?”
“Yes. Do you think he’d leave such a major decision to me? He was politely declining.”
Chairman Joo bit his lip.
“Declining… So the rumors are true.”
“What rumors?”
“That Sunyang Card is gearing up for a full-scale battle with us. Haven’t you heard?”
“How would I know about such major decisions?”
Chairman Joo stared at me briefly before bursting into laughter.
“Haha, I can’t handle the two of you working together. Impressive. Haha.”
Feigning ignorance, I looked at him blankly, and he returned to his usual sly demeanor.
“Why are you doing this? It seems like you’re planning to topple Daehyeon Card now that it’s shaky… If you do that, I’ll be scared. Let’s stop here. We don’t need to point swords at each other, do we?”
“I have no idea what you’re talking about….”
Feigning ignorance again, his voice turned serious.
“Enough. You two are practically one when it comes to the company. Don’t pretend you don’t know. Let’s stop the guessing game.”
Matching his dry tone, I replied.
“The one who showed weakness was you, Uncle. This isn’t about people; it’s about the company. If a weakened competitor is trying to get back on its feet, should we just watch?”
Revealing my true intentions, Chairman Joo’s eyes narrowed.
“Isn’t it the nature of this business to topple even healthy companies if they’re tempting enough? Let alone a company trying to get back up—shouldn’t we trip it up again? Otherwise, it’s not a company; it’s a rehabilitation center.”
“What are you saying? I’m offering to sell it. Just pay a fair price and take it. Why hold back a company that’s already surrendered?”
There it is. The words I wanted to hear.
“Alright. Then I’ll send a truckload of Miracle’s audit and accounting teams. Show us the company’s insides. Only then can we decide whether to acquire it and at what price. If you accept this proposal, we’ll call off the full-scale battle.”
As expected, he couldn’t respond. Of course, it’s not easy to show all the accounting books, but if the situation is dire enough to sell the company, there’s nothing to hide.
He clearly had another agenda.
“It seems like you’re planning to hit us where it hurts after thoroughly understanding the company’s situation, right?”
“And it seems like you’re planning not to sell anything by asking us to buy without showing the goods first, right?”
There was no need for further verbal sparring.
There was no longer any need to figure out what Chairman Joo was scheming.
All that was left was to attack until he screamed and surrendered completely. Not just bluffing, but truly putting him in danger so he could never rise again.
“Well, I’ve conveyed your opinion, Mr. Oh, so I’ll be taking my leave now.”
“Wait, wait. Hear me out. The truth is…”
“Uncle… No, Chairman Joo.”
I brushed off his urgently outstretched hand.
“I don’t know what your circumstances are, but it’s too late. Frankly, I don’t even want to know. Sunyang Card is sharpening its knives and loading its bullets. Stopping now would only dampen the morale of our troops. I can’t do that.”
Chairman Joo Kwang-sik, sweating and trying to hold onto me, but I had made up my mind.
“Did you think Miracle, and I, were just tools in your pocket? That you could use us as you pleased and then put us back?”
“Not at all. It’s a misunderstanding. I just need a little help…”
“Why should I? Who helps whom here? Nephew, uncle… these are just titles. Our true nature is to devour or be devoured.”
A predator with its prey in sight.
I showed him my true nature and turned away.