Guerrilla Warfare. Part 2
When Vice Chairman Jin Young-gi summoned his two sons, they rushed to his house. They both knew the reason for the urgent call: it had to be the interview broadcast by the head of an American investment firm.
Pacing anxiously in the living room, Vice Chairman Jin seemed to relax a bit when his sons arrived.
“Did you see that interview with that woman, Rachel or whatever her name is?”
“Yeah, she was acting all high and mighty, spouting nonsense like she was some big shot,” Jin Young-jun grumbled. Jin Kyung-jun also found the interview irritating, but he knew his father wasn’t looking for complaints. His father wasn’t the type to call them over just to vent.
“Do you think the same?” his father asked.
Jin Kyung-jun met his father’s gaze directly. “I don’t believe she was being sincere. She knows it’s impossible to take over a major Korean conglomerate with just one M&A. She understands the circular shareholding structure. There must be another motive behind her words.”
“Motive?” Jin Young-jun interjected, glaring at his brother.
“Then you should explain what that motive is.”
“Brother, isn’t Miracle supposed to be Do-jun’s? If that’s the case, then Rachel Arief, the CEO of New York Miracle, must have held that press conference under Do-jun’s orders.”
Vice Chairman Jin slapped his knee in agreement. “That’s exactly what I think. If Rachel said what that rascal told her to, then it wasn’t just a press conference—it was aimed directly at us.”
“Father, while it’s clear that Do-jun is behind the Korean Miracle funds, we can’t be sure about the American funds. Jumping to conclusions could be dangerous.”
Seeing his father intrigued by his younger son’s opinion, Jin Young-jun quickly offered his own perspective, unwilling to be outdone. “There’s definitely a connection, so we have to assume Do-jun’s thoughts influenced the press conference. Otherwise, it wouldn’t make any sense.”
Listening to his sons, Vice Chairman Jin’s expression grew darker. He was already convinced that Jin Do-jun was deeply involved.
“That boy is trying to make a move. If there’s any gap in the succession process, he’ll jump right in.”
Jin Kyung-jun found his father’s anxiety puzzling. But as the eldest, Jin Young-jun understood. He was the one directly involved in the succession. Anxiety stems from uncertainty.
“Father, don’t worry too much. The Miracle CEO’s interview wasn’t a declaration of war, and Do-jun isn’t reckless enough to act without certainty.”
Turning to his brother, Jin Young-jun suggested, “Kyung-jun, why don’t you meet with Do-jun?”
“Me? Why me?”
“Yes. No matter how much that sly fox tries to hide his intentions, you can read a lot from his expressions and demeanor. Go see for yourself.”
Jin Kyung-jun realized his brother was trying to calm their father and was a bit surprised. Is this why parents have a special place for the eldest? They know exactly what to say when it’s needed most.
“Alright, I’ll meet him first thing in the morning.”
Vice Chairman Jin’s tense face relaxed a little, perhaps because of his sons’ reassurances. “As I get older, I find myself worrying more. But seeing you both so reliable puts my mind at ease.”
Seeing his father looking unusually aged, Jin Kyung-jun had much to say but held back for today.
＊＊＊
“Was it that urgent? You came running here first thing in the morning.”
“Cut the sarcasm and tell me. Why did you pull that stunt?”
“What are you talking about?”
Jin Kyung-jun, frustrated, frowned at him. “What?”
“Make up your mind. Either be the dutiful son running errands for Father and Brother, or go rogue and take over a few subsidiaries, even if it means being called a scoundrel. Haven’t you heard Aesop’s fable? What happened to the bat?”
“Hey! That’s not—”
“Checking if Rachel’s press conference was my doing or what my intentions were means you want to be the dutiful son. If you were on my side, you’d have said something different. Like how Father and Young-jun reacted to the press conference. Right?”
Unable to respond, he was hit with another sharp remark.
“Once you’ve chosen a side, stick to it. Do you think this is just a trivial family squabble?”
“Do, Do-jun.”
“If you see this as a mere family feud, step back now. Billions could vanish in an instant, and the stock market of an entire country could be shaken. It wouldn’t be surprising if someone had a ‘car accident.’”
Though he couldn’t grasp the full meaning of a ‘car accident,’ he understood it was a high-stakes game where lives could be at risk.
“Listen carefully. If I ever feel threatened because of you, I’ll bury you. Make sure you can never recover. Got it?”
He knew it wasn’t an empty threat. The foundation his father left him, stripped of its core, could be crushed at any moment.
Whether the threat worked or he had a change of heart, Jin Kyung-jun finally spoke after a long pause.
“Father is really worried you might have declared war.”
“Does he think I might be amassing a huge amount of stock?”
“Probably. The governance structure is that vulnerable.”
“Where is it vulnerable?”
Jin Kyung-jun hesitated before letting out a short sigh. “I’m not sure, but I think there are two places.”
“Where?”
“Woosung MK and a bank, but I’m not sure which bank.”
“Woosung…?”
Rumors had long circulated that the Woosung Group, which collapsed during the IMF crisis over a decade ago, had siphoned off billions in slush funds. Some speculated it could be over a trillion won.
These slush funds had been laundered overseas for years and then reappeared as the startup capital for an investment company called Woosung MK. It was already known that Woosung MK held significant shares in Sunyang Corporation and its key affiliates.
However, it was no secret in the financial world that the head of Woosung MK had a special relationship with Vice Chairman Jin Young-gi.
When the prosecution, convinced that Woosung MK’s funds were indeed Woosung Group’s slush funds, was about to launch an investigation, it was Vice Chairman Jin who managed to suppress it.
Both I and Chairman Lee Hak-jae had long given up on the idea that Woosung MK was anything but a staunch ally of Vice Chairman Jin.
“Find out quickly why Woosung MK turned its back and which bank it is, and let me know.”
“Hey! Give me a break. You can’t just push me around like this.”
“Enough with the idle talk. I have no intention of indulging you.”
Though harsh, he needed to quickly grasp the situation. The longer he hesitated and pondered, the more likely he was to side with family. He needed to burn the bridge back as soon as possible.
Jin Kyung-jun gritted his teeth and glared at me for a moment but left without another word.
“What are you going to tell Uncle about Rachel’s press conference?”
“I’ll handle it. Do I need to report every little thing and get your approval?”
He threw out a sharp retort and stormed out.
That’s how young masters like him change.
＊＊＊
“It seems Do-jun was testing the waters, trying to see where loyalties lie.”
“Testing the waters?”
Vice Chairman Jin focused intently on his younger son.
“There are several entities holding shares in the group, right? It seems he wanted to see if any of them might turn against us. He knows that throwing money around to buy stocks is a foolish move.”
“I knew it. That American woman’s blabbering was definitely connected to that rascal Do-jun.”
Jin Kyung-jun found it hard to meet his father’s eyes, but he was also frustrated with himself for always playing both sides.
“But Father, our friendly shares are secure, right? They wouldn’t be swayed by such provocations, would they?”
Jin Kyung-jun asked nonchalantly, but he was closely watching his father’s expression.
“Not necessarily. They prioritize their own interests. The days of sticky ties and loyalty in this field are long gone.”
“Is that rumor true?”
“What rumor?”
“That a bank and Woosung MK aren’t supporting us.”
“Where did you hear that?”
Vice Chairman Jin was visibly flustered by his son’s words. Even the strongest fortress can be shaken by a single rumor, causing fear among its inhabitants.
In this case, fear could lead to betrayal.
“I work in the electronics strategy department, remember? While securing friendly shares, the staff heard such rumors.”
Relieved, Jin Young-gi realized it was just internal chatter. It hadn’t spread outside yet.
“Make sure those people keep their mouths shut. Let the bad news stay within.”
“Yes. But is the rumor true?”
“Yes, unfortunately, it seems they’re slipping away from us.”
“Why? Isn’t the head of Woosung MK particularly close to you?”
“They’re uneasy.”
Jin Young-gi’s brow furrowed deeper.
“They’re not confident in your brother. They want to see if he truly has what it takes to lead the group.”
Jin Kyung-jun’s eyes widened.
The fact that friendly shares were wavering due to doubts about his brother’s abilities gave him a glimmer of hope that he might have a chance.
But seeing his father’s expression, he quickly abandoned that hope. His father was smirking.
“They talk a good game, but… they smell money.”
“What?”
“They know that a single arrow during a war can be sold for more than a bow. And in a war where the total number of arrows is fixed, they won’t miss the scent of money.”
“Then why don’t we just buy the shares Woosung MK holds?”
Jin Kyung-jun realized his mistake. He had asked a pointless question.
Time is of the essence. Every day that Jin Do-jun reveals more of his cards, the price goes up. Isn’t it common knowledge in the industry that Jin Do-jun is loaded?
If they wait, the selling price will skyrocket, and Wuseong MK, a so-called investment firm, isn’t foolish enough to sell their shares without knowing this simple fact.
“Judging by your expression, I don’t need to answer that. Haha.”
“Which bank are we talking about?”
“Jinseong Bank.”
“Are they also just waiting for the stock price to rise?”
“No. Jinseong Bank isn’t selling their shares. They’ll only back the person they’ve chosen.”
“Chosen…?”
“They’ll support the one who can boost their deposit balance whenever they need it.”
Both scenarios favor Jin Do-jun. No one can outmatch him in a financial battle. Jinseong Bank and Wuseong MK will side with him.
Jin Young-gi, watching his son’s troubled expression, gave a slight smile.
“Disappointed? Think we’ll crumble too easily?”
“Seems like it’s all about who has the most money. Aren’t we at risk of collapsing without a fight?”
“If that were the case, would Lee Hak-jae, who teamed up with Do-jun, have waited this long? He would’ve already taken over the electronics division.”
Jin Young-gi spoke to his worried-looking son.
“Buying and selling with money is a small game. Whether it’s Wuseong MK or Jinseong Bank, their shares aren’t that significant. It would be nice to have them, but we’re aiming for something bigger.”
“Something bigger?”
“There is such a thing. It’s not about money; it’s about making deals. You’ll understand soon enough.”
Jin Kyung-jun began to grasp the subtle difference between transactions made with money and those made through deals.