A Brief Encounter 3
“You went to Gunsan?”
“Yes, I went to pay my respects to Grandfather.”
“Just to pay respects?”
“There was something to report as well. Not exactly good news, though.”
Chairman Lee Hak-jae, who had been reviewing documents from his chair, suddenly stood up and sat across from me.
“Tell me.”
“Excuse me?”
“Tell me what the bad news is. Isn’t that why you’re here?”
“Do I need a reason to visit? I came to check in and say hello.”
“If you’re not here to keep an eye on a salaried chairman as a major shareholder, you’re not the type to just drop by for a casual greeting. Spill it.”
He’s refreshingly straightforward.
“You know we managed to fend off the Sunyang Financial Group’s board, right?”
“Do you want a pat on the back? If you want to hear it, I’ll say it.”
“Why do you make it so hard to bring anything up?”
Feigning a grumble, I watched as Chairman Lee gave a small smile.
“Well done. Happy now? Now, what’s the issue?”
As I prepared to broach a difficult topic, I found myself rambling more than usual. Unsure of how he would react, I finally spoke up.
“It’s about Grandmother.”
“The Madam?”
“Yes. She’s been pressuring my uncles to push me out of Sunyang Group.”
“The two vice-chairmen aren’t exactly obedient sons who’d do whatever their mother says. Would they really act on her whims?”
He spoke as if it were nothing, but his expression darkened. He must know something about Grandmother.
“From what I’ve gathered, Grandmother has leverage over my uncles. Whether she’s used it or not, I can’t say.”
“Leverage?”
“Yes.”
“What kind of leverage?”
“Money.”
Lee Hak-jae didn’t seem surprised. Did he already know?
“Money, huh… As the matriarch of Sunyang Group, she’d naturally have a lot of it. But not enough to wield as a weapon. Her sons, who control major subsidiaries, wouldn’t be swayed by her wealth.”
“It might be more than you imagine. In fact, I’m certain.”
Now he seemed a bit surprised. He hadn’t known.
“If you’re saying it’s beyond imagination, how much are we talking?”
“If I knew exactly, I’d tell you the amount.”
“So it’s just speculation?”
“That’s why I’m verifying. How long has Grandmother been in charge of the Sunyang Arts Foundation?”
“Let me think… It started over twenty years ago when the new military regime pushed cultural policies. Why?”
“And the money that’s flowed into the foundation over those years?”
Chairman Lee chuckled and waved his hand dismissively.
“Is that what this is about? Of course, a huge amount went into the foundation. It was a tax dodge, after all. But an arts foundation can’t engage in profit-making activities. Even if there were some tricks, it wouldn’t be significant. Money doesn’t grow unless it’s invested.”
“That’s not the case. She’s effectively engaged in massive financial maneuvers. She’s amassed domestic and international art and antiques. Why else would she be treated as a VIP at Sotheby’s in London and Christie’s in New York?”
“Art itself isn’t valuable. It only becomes a weapon when sold for cash.”
“Exactly.”
“What do you mean…?”
Finally, something clicked for Chairman Lee, and he was left speechless for a moment.
“Are you sure?”
His first words after a long pause were for confirmation.
“I don’t have hard evidence, but I do have testimonies. Not admissible in court, though.”
“Details!”
His stern face reminded me of his days as Grandfather’s chief secretary.
“The paintings at Sunyang Gallery and the antiques at Sunyang Art Hall are rotated three or four times a year. The truly valuable pieces are never shown to the public.”
“Most of the art is in the foundation’s vault.”
“I’ve checked the Sunyang Arts Foundation’s inventory. Over twenty years of collected art. Many pieces have increased in value tenfold, even a hundredfold or more.”
“If you’ve seen the inventory, it means they haven’t been liquidated yet, right?”
“I only saw the inventory. I didn’t see the actual pieces.”
“They’re gone? Sold off?”
“Most likely.”
“What?”
Seeing Chairman Lee genuinely shocked was a rare sight.
“Most of the pieces in the vault now are likely forgeries. The masterpieces, never shown, might not even exist. Among the inventory, Francis Bacon’s ‘Three Studies for a Portrait of Lucian Freud’ was bought for 90 billion won. Have you seen it?”
“I’m no art expert.”
“Neither am I. But its current value is 150 billion won.”
“So it’s either gone or swapped with a fake? The originals sold off?”
“Almost certainly. A smuggler involved in moving the genuine pieces overseas and a forgery expert known as the ‘Wizard of Insadong’ have both spoken. They created forgeries, and later, Sunyang Arts Foundation announced they had purchased the originals.”
Chairman Lee’s face had turned pale.
“In some cases, they bought the originals abroad and brought back fakes. The originals were sold on the spot.”
“Is that why the Madam spent so much time in Switzerland?”
“Yes. She must have been handling various matters there.”
“Did Woo Byung-jun investigate this?”
“Yes.”
“If it’s him, it must be true.”
Chairman Lee leaned back into the sofa, exhaling deeply before speaking again.
“We’re trying to track what she did with the money. But if it’s in a borrowed-name account or hidden in Myeong-dong, it won’t be easy to find.”
He straightened up, speaking with certainty.
“Stocks under borrowed names.”
“Stocks?”
“Yes. The Madam must have been accumulating stocks. No matter how much she spends, the subsidiaries cover everything, so she doesn’t need cash.”
“Then we can’t just let this slide.”
“What do you plan to do?”
“I’ve already informed Grandfather. I intend to ensure Grandmother spends her later years in Switzerland. But first, we need to strip her of everything. She could become a problem later.”
Lee Hak-jae shot me a cold look.
“The Madam is your grandmother. And no matter what, she’s the Chairman’s wife. Don’t do anything that goes against family ties. You’ll be punished by heaven.”
Villains deserve to be punished eventually. But I’ve already received my punishment.
I died with a bullet in my head. Anyone would call that divine retribution.
Having already faced my punishment, I have no reason to fear it.
“I promised she’d spend her final years comfortably in a beautiful Swiss villa. That’s more than most children would do.”
When the private jet landed at Kota Kinabalu Airport, the financial subsidiary presidents were visibly excited.
To revitalize the company atmosphere, everyone was given a three-day vacation. They could enjoy golf and relax at the resort, all flown in on a private jet.
“Is it okay if we just play golf among ourselves?”
Vice President Jang Do-hyung asked, looking a bit awkward but with a grin that stretched wide.
“I don’t really want to join the old folks’ games. Haha.”
I left them at the resort and went to meet Oh Se-hyun.
“Joint voting rights with Vice Chairman Jin Dong-ki?”
“Yes. Things should be quiet for a while.”
“And the money?”
“Uncle will find it and clean it up. Make sure there are no traces.”
“Am I supposed to use it?”
“Do as you please.”
“I’m not joking. The resort’s in the red. Better than taking out loans to cover it.”
“Go ahead. And it should improve once the direct flight route opens.”
“Make sure the air route opens soon. You’ve greased enough palms here and there. Use them now.”
Seeing Oh Se-hyun’s serious expression was amusing.
The true nature of business reveals itself. Isn’t he someone who shouldn’t worry about deficits? He could just relax and manage things, but he can’t stand the red numbers in the accounting books.
“Understood. I’ll do my best. Anyway, let’s sort out the Labuan funds quickly.”
“Why did you bring so many people along? Shouldn’t you come quietly when dealing with slush funds?”
“It’s insurance.”
“Insurance?”
“Yes. Just in case, if the Labuan slush funds put me in a tight spot, I need a way out.”
“Look at this sly devil.”
Oh Se-hyun shook his head.
“Did you bring them to make one of them the owner of the slush funds?”
“Not make, but they’ll claim to be the owner themselves. It’s an alibi for that moment.”
“You’re a full-fledged chaebol chairman now.”
I whined at Oh Se-hyun, who was shaking his head.
“What can I do? There are too many people eager to take me down. I need someone to act as my bulletproof vest.”
He seemed a bit angry, yet there was a hint of sympathy. Or perhaps he looked at me with pity.
“Anyway, let’s find the money quickly and head to the U.S. together.”
“The U.S.? Why? Do you have business with New York Miracle?”
“Yes.”
The pitying look vanished, replaced by the sharp gaze of an investor.
“Do you have a hunch? Or some good information? What are you investing in this time?”
“I’m thinking of cultivating a refined hobby befitting a wealthy man, like art collecting. I’m considering acquiring a small gallery in New York.”
“What? Art?”
Oh Se-hyun couldn’t hold back his laughter.
After laughing until tears came, he finally managed to speak.
“Collecting art as an investment isn’t for everyone. You need a real eye for it. I’ve seen plenty of nouveau riche lose money buying worthless paintings from galleries.”
“I’ll only buy famous artworks. I’ve already made a list. If I offer a premium, they’ll be eager to sell.”
“Stop talking nonsense. People who own famous paintings rarely sell them. Those folks have more money than they know what to do with. They bought the art because they had cash to burn, and if you offer them more, they’ll just laugh in your face.”
“The owner of the collection I’m interested in is different. They’re in desperate need of cash. They prefer shares in the Sunyang Group over paintings.”
The mention of Sunyang’s stock wiped the smile off my face.
“What? Who on earth are you talking about?”
“My grandmother.”
I gave a bitter smile.
“Good grief, what’s with that family? They’re all obsessed with stocks.”
“Tell me about it. They deserve all the criticism. I’m one of them, after all.”
“Well, aren’t you something.”
After hearing the whole story about my grandmother, Oh Se-hyun let out a long, exasperated sigh.
“So? Does Yoon-gi know about this?”
“No, I haven’t told him. I can’t let my father harbor any more bad feelings toward my grandmother.”
“This is a delicate matter. If anything goes wrong, it could be disastrous. You’re exposing the flaws of the family’s matriarch. If your grandmother’s name gets out, it won’t just be a family scandal; it’ll tarnish Sunyang’s reputation too.”
“Sunyang’s name is already so tainted that everyone points fingers at it. I’m not afraid of a little more dirt on a sign that’s already been dragged through the mud.”
“Alright. Let’s deal with the Labuan slush fund and head straight to the States. It’s been a while since I’ve seen those folks.”
Oh Se-hyun made a few calls and, for the first time in ages, turned his attention to the computer monitor.
The money from Labuan, though it would change banks and locations, would remain a slush fund as it traveled the world before finally landing in my pocket.