Before Winter Ends, Part 3
Chairman Jin Sang-ki greeted his three guests with a face full of anticipation. They were independent lawyers, not affiliated with any law firm, and each placed a thick stack of documents on the table.
“I understand the chairman has already spoken to you.”
“These are the documents for the donation to the foundation. The chairman has already signed them, so all that’s left is for the foundation’s seal to be affixed, and the donation process will be complete.”
“This document lists the assets to be donated. Please take a look.”
Jin Sang-ki snatched the documents and began to review them. His expression, which had been filled with dreams of a vast list, quickly twisted in disbelief.
“What is this?”
“Excuse me?”
“Is this all there is?”
“This is the entirety of the assets we manage for the chairman.”
“We? Does that mean there are other lawyers involved?”
“We’re not aware of any others. You might want to confirm with the chairman.”
Jin Sang-ki scanned the list again. Five buildings, scattered plots of land across the country, and about thirty billion won in cash…
As he looked over the list once more, the lawyers spoke up, as if on cue.
“After maintenance and staff salaries, the properties generate about 1.4 billion won in monthly revenue. You’ll need to decide whether to extend the lease agreements when they expire. Oh, and please let us know if you want us to continue managing them or if the foundation will take over.”
“The land is categorized by whether its use can be changed or not. The value is based on recent transactions in the area.”
“That value is nine billion, correct?”
Jin Sang-ki asked, his face a mix of disbelief and frustration.
“Yes, that’s correct. If the land use changes, its value will increase significantly.”
His hands trembled as he crumpled the documents in frustration.
“Are you kidding me? My father founded the largest company in Korea, and you’re telling me his entire estate is just a few buildings and some pocket change? Does that make any sense?”
Unlike the agitated Jin Sang-ki, the lawyers remained calm.
“As we mentioned, this is all the property we manage. If the chairman has other personal lawyers, we wouldn’t know. It’s best to confirm with him whether this is the entirety or just a part of his assets.”
No, this can’t be all. There must be more. He said he had stashed away money. If my father said he hid it, it must be in the billions.
Yes, another lawyer must be handling the money. It’s probably in a secret account, and he must have hired a specialist for that.
This was Jin Sang-ki’s belief, and he wanted to hold onto it.
He picked up the phone and curtly instructed, “Call the legal team. Bring the foundation’s seal.”
Jin Sang-ki stood up, as if there was nothing more to see.
“Explain everything to the legal team when they arrive and handle it. I have an appointment.”
After Jin Sang-ki left, the lawyers’ expressions changed.
“This is everything, isn’t it? The chairman has already sorted out the money.”
“Did you see his face earlier? If we told him this was all, there’d be chaos.”
“There might be another lawyer involved. We just need to handle this. No need to get involved in family matters.”
The three lawyers fell silent as the legal team staff entered the room.
“Chairman, you need to get well soon.”
“You still look strong. Shake it off and get back on your feet.”
Everyone in the Sunyang Group wanted to visit, but only a select few were allowed. Those who stepped into the hospital room were once key executives or held crucial positions when Chairman Jin was at the helm.
Some still held their positions firmly, while others had retired as soon as Chairman Jin stepped back from the front lines.
“Is the company so idle these days? You all have time to visit an old man in the hospital?”
Chairman Jin welcomed them warmly, and for a while, the room was filled with laughter. As the laughter subsided, Chairman Jin spoke.
“Judging by the wrinkles on your faces, it seems life as a salaried worker is tough these days?”
No one took it as a simple joke. They all knew Chairman Jin was probing the current state of the group.
“We feel it’s time for us to step aside. New wine should be put into new wineskins, don’t you think?”
Sunyang Electronics’ President Son Hoon-jae, acting as their representative, began to speak with a smile.
“Why? Is your son treating you harshly?”
“Not at all, but for Vice Chairman Jin Young-gi to lead comfortably, it would be inconvenient to have us old-timers around. There are many young and capable successors.”
“Isn’t it the same for Vice Chairman Jin Dong-gi? Especially for those of us who have worked with cement and steel, the hierarchical relationships are more rigid, and it’s clear they find it uncomfortable.”
The president of Sunyang Heavy Industries added his piece.
“It seems you didn’t come to visit me but to air your grievances. Haha.”
Chairman Jin burst into laughter, but the presidents couldn’t shake their serious expressions. Watching them, Chairman Jin clicked his tongue inwardly.
A man must acknowledge and accept that he has aged. If he can’t accept this, he clings desperately to his position, driven by greed.
For an old man who no longer has the scent of a businessman, the only way to be recognized as not being old is through his position and business card.
Not everyone in this room, but to Chairman Jin, they seemed like old men clinging to life, unable to let go of their regrets.
“Bring me some paper and pens.”
One of the secretaries quickly left the room.
Everyone’s eyes widened at Chairman Jin’s sudden request.
“Before I go, I’ll put your minds at ease. Just wait a moment.”
When the secretary returned with a handful of paper and pens, Chairman Jin gestured to the executives.
“Hand them out to everyone.”
As they held the paper and pens, blinking in confusion, Chairman Jin spoke firmly.
“Write your resignations. Leave the date blank. I’ll decide when it’s time for you to step down.”
At the thunderous command, everyone hesitated, glancing at each other, until a loud voice broke the silence again.
“What are you waiting for? Hurry up!”
President Son Hoon-jae was the first to pick up a pen and start writing his resignation, and the others quickly followed suit.
Those who had already retired wished for this awkward and uncomfortable moment to pass quickly.
Once everyone had put down their pens and handed their resignations to Chairman Jin, he set them aside and spoke.
“How does it feel? To let go of your attachments?”
Since it wasn’t a voluntary release, there was no way they could feel at ease. They all kept their heads down, lips tightly sealed.
“You fools. You’ve had your time. Didn’t you make good use of being an executive at Sunyang when your children got married? Were you planning to use it again for your grandchildren’s weddings?”
“N-no, Chairman.”
“Then that’s settled. I’ll make sure your severance packages are generous, so from now on, work with a clear mind. And… you’ve all skimmed a bit off the top while in high positions, haven’t you? I’ve turned a blind eye to it all. Aren’t you grateful? Haha.”
Chairman Jin’s laughter echoed through the room.
Though it seemed like a casual remark, it was a clear warning.
When selecting new factory sites, they would buy surrounding land in advance and sell it when the land prices soared. They would buy stocks under borrowed names when there was good news for the company and make huge profits. Some even chose relatives’ or friends’ companies for new subcontractor selections, taking shares in them.
Everyone turns a blind eye to such things, but if it were to become an issue, it wouldn’t be difficult to address.
Chairman Jin’s laughter was a warning not to entertain any other thoughts, even if he accepted their resignations today.
“By the way, even if you leave the company, I’ll arrange for you to have an auditor position and an office, so you can come by if you’re bored.”
A generous severance package, a position as an auditor with a salary similar to their current one, and a period of two years to maintain their dignity.
This is the final chapter for those who dedicated their lives to Sunyang Group.
Of course, 99.9% don’t even get to enjoy such luxury and are simply shown the door…
“Now, go back to work. I need to rest.”
With the clear dismissal, everyone bowed and left.
“Oh, President Son. Stay for a moment.”
After sending out even the secretary who had been attending to him, President Son Hoon-jae’s expression grew even darker as he was left alone with Chairman Jin.
“Is the company in such a mess these days? Those guys had mischief written all over their faces.”
“They’re just anxious because they’re on the brink. Anyway, you did well. It’s better to make them let go of their attachments than to have them clash with the two vice chairmen.”
“Why do they forget they’re businessmen just because they’re old? Don’t they realize it’s time for a change?”
“They’re just reluctant to let go. Please understand, Chairman.”
“What do I have to understand? It’s you I’m concerned about.”
“I’m fine. Honestly, I should have left last year, but I missed the timing. By the way, I wrote the date on my resignation. I’ll wrap things up by the end of this month and step down.”
“I’m sorry and grateful. Thank you for understanding my intentions.”
Sunyang Electronics is the flagship of the group. With President Son Hoon-jae stepping down, no one would be shameless enough to hold on.
“Don’t mention it. Is there something else you wanted to discuss?”
“It’s about the shares you and the others hold.”
“Oh, yes. Just say the word, and I’ll transfer them.”
Chairman Jin smiled at his response. It was a significant 5% stake, yet there wasn’t a hint of greed in his demeanor.
“No need to transfer them. Keep holding onto them. Consider it your severance package. But…”
Startled, President Son Hun-jae waved his hands in protest, but Chairman Jin just kept smiling.
“Do you think I’m unaware of what those shares represent?”
“N-no, sir.”
“Then do as I say. Assign the voting rights to yourself as trustee. If you say it’s on my orders, there shouldn’t be any issues. No more objections.”
“Yes, Chairman. In that case, could you share your intentions regarding those voting rights?”
“Just focus on one thing: whether it benefits the group.”
“I’ll keep that in mind.”
President Son bowed deeply.
“If there’s nothing else, I’ll take my leave. You look quite tired.”
“Yes, thank you. Oh, by the way, have you noticed any changes or strange vibes since my children found out I might not have much time left?”
Chairman Jin scrutinized Son’s face, searching for any hint of unusual behavior.
“Everyone seems busy, sir. Ha ha.”
“Busy, you say?”
“The executives are preoccupied with figuring out whose side to take, and employees with poor performance are anxious about potential restructuring.”
“Is that all? You know what I’m asking, yet you dodge the question…!”
Seeing the chairman’s displeased expression, Son hesitated, then spoke cautiously.
“I haven’t confirmed anything, but there were some odd rumors. They died down quickly, so I didn’t pay much attention…”
“Stop beating around the bush! Just tell me.”
“There was talk of restructuring the current group into a new holding company. But this rumor started long before you were hospitalized, so I forgot about it.”
Son had mentioned it casually, but he immediately regretted it. Chairman Jin, already tense, was now trembling with clenched fists.