A Brief Alliance
Vice Chairman Jin Dong-gi looked at me with clear disapproval as I offered him a gentle smile.
“I underestimated my eldest uncle’s ambition. I’ve realized now that there’s a place more reliable than the media or the prosecution.”
“Running out of cards to play, are you? Enough with the nonsense. What do you want?”
“You two joined forces to oust me, but the grip of your alliance is weak, and you’re both holding daggers in your other hands, ready to strike. I want to render those daggers useless because they could be pointed at me at any time.”
“Get to the point.”
“For the time being… or perhaps for quite a while, how about we work together to fend off my eldest uncle’s attacks?”
“You want me to join hands with you?”
“Yes.”
Jin Dong-gi’s expression shifted, clearly finding my proposal absurd.
“And what would I gain from joining hands with you? It sounds like you’re asking me to nurture you.”
“My uncle holds 26% of the shares, and I have 10%. Together, that’s 36%, equal to my eldest uncle’s share. It means the group’s perception of us would be the same.”
His expression changed again, this time intrigued by the proposal.
“That’s not a bad idea. You’re suggesting I take over your voting rights? If that’s the case, I’ll protect you. You won’t be ousted from the group.”
“Just a few days ago, you were trying to get rid of me. If I believed that promise now, I’d be a fool. It’s a premature misunderstanding.”
“Then what?”
“A joint voting right of 36%.”
“What?”
My uncle’s face flushed with anger.
“Joint voting rights? Are you serious? Even with the same percentage, it’s a ridiculous notion, especially with less than half the shares. It’s absurd!”
“Under normal circumstances, it would be unreasonable, but the situation is different now, isn’t it? Besides, the shares our family holds are for defending management rights, aren’t they? I have no intention of interfering with your management. My only goal is to prevent you two from joining forces to oust me again.”
“Enough.”
“Please, think rationally. This isn’t about losing your 26%, but gaining the strength of my 10%. Of course, I also gain the strength of 26% for defending management rights. It’s not a loss for you just because I gain more. Let’s call it a win-win.”
Jin Dong-gi had to overcome the petty nature of human instincts.
Just because someone else gains more doesn’t mean you lose what you have. But for those who have only learned to suppress those ahead of them rather than run alongside them, helping someone behind feels like a loss.
If it were Vice Chairman Jin Young-gi, this wouldn’t work, but Jin Dong-gi, who prioritizes rational judgment, might overcome his base instincts.
And he would also consider that he’s not in a position to boast right now.
“Consider the shares held by Miracle. Even though their shares have been diluted, they still hold over 20%. That 20% could side with me at any time, easily surpassing the majority. No matter what means my eldest uncle employs, he won’t be able to take over the group.”
Jin Dong-gi’s eyes changed.
He realized that he was currently the weakest link. While external shares might be indifferent, Miracle was different.
“As long as CEO Oh Se-hyun, my father, and I are here, Miracle is a reliable ally. My 10% shares also carry that meaning.”
Threatening with slush fund evidence might be quicker, but promises made under duress don’t last.
Now, I need to turn my uncle’s shares into a lasting alliance.
After a long pause, Jin Dong-gi spoke.
“With our combined shares, we have a majority. Why not use Miracle’s shares to make me chairman? Then I’ll make you the sole vice chairman. You won’t have to worry anymore.”
Sweet words, but meaningless whispers when our thoughts differ.
“If you become chairman, CEO Oh knows what you’ll do first. You’ll restructure the subsidiaries to dilute Miracle’s shares, including mine. CEO Oh and I are not that naive.”
He knew it all along but didn’t push or demand further.
“You could bind my hands and feet with joint voting rights. If you forfeit your voting rights, I must do the same.”
“I could be bound too. If that happens, I’ll transfer my shares to my parents, dissolving the joint voting rights. You should do the same. You’ll pass them to your son eventually, won’t you?”
Considering the worst-case scenario means he’s more than halfway convinced. It’s time to cast the final bait.
“I’ll withdraw the 100 billion won slush fund in Labuan. That way, there’s no need to use it to threaten you. I’m involved too.”
“You’d cover yourself in my dirt?”
“Isn’t that what ‘joint’ means?”
“If I refuse your proposal, will you hand over the slush fund documents to my brother?”
“I’m not that kind of thug. I’ve already told you. If you cancel the board meeting, I won’t hand over the documents. But with a powerful weapon with a three-year statute of limitations in my hand, you’ll always be uneasy.”
Jin Dong-gi pressed the intercom.
“Have the entire legal team come in.”
My uncle, now with a softer expression, spoke.
“I’ll review it and get back to you today. And the review will be positive. You can leave now.”
I realized he was calling them to draft a joint voting rights agreement that removed any threatening elements.
“I’ll wait for your call. Please forgive my previous insolence. I’m just trying to survive.”
“I no longer see you as my nephew. You’re just a contender for Sunyang’s management rights. So, don’t bother with formalities.”
As I bowed and prepared to leave, he surprised me with an unexpected question.
“If you had sided with my brother, you could have ousted me. You might have received a few subsidiaries in return. Why did you refuse?”
“My goal is to protect what my grandfather entrusted to me. I’m not greedy for a few more subsidiaries. Besides, I’ve never been fond of my eldest uncle.”
“You’re aiming to swallow it whole, so crumbs don’t interest you. Fine.”
He waved me off dismissively and turned away.
Jin Dong-gi took a deep breath and opened the door to Vice Chairman Jin Young-gi’s office.
“Is the Vice Chairman in?”
The secretary at the desk jumped up in surprise.
“Oh, yes, Vice Chairman. He’s preparing for the board meeting…”
“Is anyone else here?”
Without waiting for her to finish, Jin Dong-gi walked in.
“What brings you here? We’ll see each other at the board meeting soon.”
Jin Young-gi was puzzled, sensing something unusual in his brother’s demeanor.
“The board meeting agenda will change, so neither of us needs to attend.”
“What are you talking about all of a sudden?”
“The agenda remains the same, but the decision will be made by Do-jun. It’s exactly what Father wanted.”
“Hey!”
“That’s how it is. If you hadn’t been planning to stab me in the back, we could have reshuffled the executives as we agreed. But I can’t align with someone who’s always trying to oust me.”
Jin Young-gi began to piece together what had happened.
“Do-jun said that? That I’m planning to betray you?”
“Don’t play dumb. I’m not angry or resentful. If I were in your shoes, I wouldn’t have missed such an opportunity either. It’s only natural. I was foolish to expose my weakness.”
Jin Young-gi threw the board meeting documents he was holding.
“You idiot! You’re throwing away the chance to get rid of Do-jun? Are you out of your mind? How will you face Mother?”
“We’re not exactly devoted sons to Mother, so it’s not a big deal… Anyway, don’t touch the financial group.”
Jin Young-gi shouted at his brother.
“You fool! It’s not too late! Change your mind now. I can give you Sunyang Life.”
“Enough. With Do-jun’s shares, my shares, and Miracle’s shares combined, we have more than half the group’s controlling shares. If push comes to shove, ousting you and taking the chairman’s seat isn’t a far-fetched dream. Stop provoking Do-jun.”
Jin Young-gi, who had been shouting moments ago, turned pale.
He had never considered the possibility of being ousted from the group.
There were many external shares, held by public corporations, banks, and foreign capital.
But they never interfered in the group’s internal affairs. They simply saw it as a safe investment or held it as collateral.
Miracle’s shares had slipped away due to their father’s hasty decision, but they were considered friendly to the group.
Who would have thought Miracle would become a real force for his brother and nephew?
Jin Dong-gi smirked at his brother’s expression and walked out.
Left alone, Jin Young-gi stood in a daze until Secretary Baek Jun-hyuk knocked on the door.
“Vice Chairman, it’s almost time for the board meeting. If there’s anything special you need to prepare, please let me know.”
Despite his cautious tone, the response was a slap.
Smack!
He wanted to rub his stinging cheek but couldn’t move from his stance.
Jin Young-gi’s hand flew again.
“You useless fool! What are you even doing?”
“Is everyone here?”
“Yes, when you walk in, everyone will be completely taken by surprise.”
Vice President Jang Do-hyeong wore a triumphant smile, clearly savoring the moment.
“I feel a bit guilty saying this since I could only stand by and watch, but you really went through a lot.”
He spoke to the man with a bowed head.
“I don’t want to hear ‘I’m sorry’ from you ever again. You understand what that means, right?”
He surely knew it implied that if such a situation arose again, he would have to leave Sunyang.
“It won’t happen again, sir.”
“Let’s go. The old folks must be waiting.”
We made our way to the conference room.
As soon as we opened the door and stepped inside, the expressions on the elders’ faces changed dramatically.
After years of reading the room, they couldn’t possibly miss the shift in the situation.
I strode confidently to the empty seat at the head of the table and sat down.
The person sitting next to me looked as pale as a sheet.
“President Yang Woo-chan. It’s been a while.”
I flashed a slight smile at President Yang, and he closed his eyes.
Turning to Vice President Jang Do-hyeong beside me, I said, “Vice President Jang, reprimand all the security staff who allowed outsiders onto the executive floor. Since when did Sunyang Group become a bustling country market where anyone can wander in?”
“I’m sorry, sir. I’ll take immediate action.”
I addressed President Yang again.
“What are you doing? Wouldn’t it be embarrassing to be dragged out by security? You still seem to have enough strength to walk out on your own…”
President Yang Woo-chan, with trembling legs, made his way out of the conference room. I could feel the rest of the people in the room shaking in their seats.