Trading Blows 3
“Vice Chairman Jin Young-gi isn’t foolish enough to do something reckless. It’s not the time to stir up unnecessary trouble either.”
“Sunyang Ad Media should be fine. But with Sunyang Corporation cutting into its own flesh, there’s no way the major institutions will just sit back…”
The absurdity of it all left me speechless, my words echoing in the void.
I shook off the shock and regained my composure.
This isn’t the time to be stunned.
I need to find out how far my uncle’s influence extends. As I rushed out, Chairman Lee called after me.
“This plan is impossible without their approval. You know that, right?”
“Yes. I’ll handle Sejong-ro, and you, Chairman…”
“I’ll take care of Yeouido. Let’s move quickly. The best way is to disrupt the shareholders’ meeting.”
As soon as I returned to the Sunyang headquarters, I summoned Vice President Jang Do-hyung.
“Get someone from the Financial Supervisory Service to look into the Sunyang Corporation merger.”
“What? The Corporation merger?”
“It seems Vice Chairman Jin Young-gi is pulling strings. He’s trying to increase his control by involving Sunyang Ad Media.”
“Damn…!”
He frowned and slapped his forehead.
“What is it? Is there something else?”
“Sunyang Ad Media announced a capital increase. It’s not even a listed company, practically a private one, and I thought it was a pointless move…”
“When was this?”
“Two days ago, I think. I’ll double-check.”
They’re trying to massively increase their stock. Those shares will directly convert into Sunyang Corporation shares.
“Verify all the rumors circulating in Yeouido’s stock market and compile a comprehensive report. Understood? Our primary goal is to thwart the merger.”
“Yes, Director.”
Vice President Jang dashed out with a determined look, and I took a deep breath before picking up the phone.
“Chief, let’s have a cup of tea. In that room. Right now.”
＊＊＊
I arrived early at the hotel room assigned to the Blue House chiefs and waited. About ten minutes later, the economic chief burst in, flustered.
“Oh dear, why is our Director so upset…?”
“Don’t say you didn’t know or that this is news to you. This couldn’t happen without the Blue House’s knowledge. Maybe the VIP isn’t aware, but you must be.”
“Is this about Sunyang Corporation?”
“Of course… You know it well.”
The economic chief scratched his head, looking troubled.
“We can’t just step in and stop a private company’s merger, can we?”
“Is Sunyang Corporation a corner store? It’s a company with a market cap of over 15 trillion won. When a company of that size moves, it’s beyond the private sector. Vice Chairman Jin Young-gi isn’t foolish enough to do something this outrageous without a nod from the government… or rather, without active cooperation.”
My accusatory tone wiped the smile off his face.
“This is… starting to get on my nerves. You’re grilling me over a merger that hasn’t even happened yet… Do I need to make excuses? Or what? Should I stop the shareholders’ meeting? Send in the police and water cannons?”
This guy’s getting cocky.
He’s been at the Blue House for about four years without a replacement, so he’s probably been wagging his tail, thinking he’s a big shot, dining with ministers, lawmakers, and CEOs of major corporations.
To him, conglomerates must seem common now, and big companies are everywhere. It’s no wonder he doesn’t bow his head anymore.
“Chief.”
I smiled at him as he glared at me.
“I understand you’re caught between Vice Chairman Jin Young-gi and me. In times like this, don’t worry about which side to take. Just give both sides what they want. When interests conflict, step back. If you try to flex your muscles and poke around, you’ll only make things worse.”
“What?”
“Oh, and be careful not to mistake yourself for the weight on the scale. Don’t play Santa with a sack of gifts; just go with the flow.”
I had maintained my composure, but I no longer had the luxury. I needed to steer him in the direction I wanted, whether by grabbing his topknot or pulling out his beard.
“Shall I have your face plastered on the front page of the major dailies tomorrow? If you prefer, we can do the evening news. The economic chief who held back the Blue House at the end of the president’s term. Your dream must be to switch careers and become a lawmaker to protect the outgoing president in next year’s general election… What a shame if it all goes up in smoke.”
“If you’re thinking of making empty threats, forget it. Money has never beaten power. When we point a finger, the National Intelligence Service and the prosecution move.”
“Are you sure about that?”
He bit his lip as he caught the smirk on my face.
“The NIS? Shall I guess what the director had for lunch today and with whom?”
“What?”
“The director may be appointed by the president, but the staff are civil servants. They care more about the Shadow Society, which ensures their retirement, than a director who will leave with this administration. Do you know whose money runs the Shadow Society?”
The economic chief was speechless, realizing I had reached into the NIS.
“You think you’ve conquered the world? Who would line up behind a five-year term power, especially one with only a year left? The world has long bowed to money, not power. You’ve just forgotten that while sitting in the Blue House.”
I called out to him, still unable to speak.
“Hey, Chief.”
His dazed eyes turned to me.
“When you were a teenager, you studied like crazy to get into Seoul National University, right? I know. I studied my guts out to get into Seoul National Law School to impress my grandfather. Turns out you’re my senior. Anyway, I’m not saying this to brag about our alma mater…”
I took a sip of water and offered him a glass.
“Do you feel like your status has changed now that you’re in the Blue House, having helped make someone president by swinging from one rope to another like Tarzan? Watching people crawl on the ground like worms, and having reporters flock to you whenever you open your mouth, makes you feel like the real power in this country, doesn’t it?”
The economic chief held the glass but seemed to have forgotten to drink.
“But that status change? If it were that easy, why would we call it status? There are only two kinds of status: those who can throw someone into the gutter with a word and those who do everything to avoid being thrown into the gutter. Which do you think you belong to?”
It was time to show the economic chief reality.
I took out my smartphone, turned on the speaker, and made a call.
“Prosecutor General, did you receive the materials?”
— Yes, Director. But are you sure about this?
A slightly worried voice came through.
“It’s fine. The media will break the story first, so the prosecution will just appear to be acting swiftly.”
Hearing that the media would report first, the prosecutor general’s voice lightened.
— Understood. I’ll start the investigation after confirming the broadcast.
“Prosecutor General.”
— Yes.
“If you’re burdened by the fact that it’s a Blue House chief, you can drop it.”
— No, ignoring such solid evidence would be dereliction of duty.
As soon as the call ended, he shouted.
“What… what kind of materials are these?!”
“Materials that the media and prosecution will find very interesting. Try to remember. What could it be? Ah…! It must be hard to recall at once since there are probably more than a few.”
Realizing the reality he faced, he sighed and spoke.
“What do you want? As I said, it’s hard for me to stop what Vice Chairman Jin Young-gi is doing.”
His tone seemed a bit more polite.
“Then? Did the VIP approve it?”
“I don’t know. I don’t know how far it’s gone…”
“Do you think it’s plausible that the economic chief wouldn’t know about a major corporate merger?”
“I’m telling you the truth! All I got was an order to prepare a press briefing just in case. You know well that it’s a place where curiosity about things moving without my knowledge is dangerous, right?”
“Fine, let’s say that’s true. Then what do you know?”
“I just met him once. I was at a meal with the Deputy Prime Minister for Economic Affairs, and he just came to say he looked forward to working together. That was it. After that, I was informed about the merger.”
“Vice Chairman Jin Young-gi personally came to greet you? No way…”
He’s not the type to show his face for a mere favor. Someone like Chief Secretary Baek Jun-hyuk would suffice for that.
“No, it was Jin Young-jun.”
“Jin Young-jun?”
“Yes. He came in, loudly declaring that he would take full responsibility for the group’s management. Doesn’t that mean he intends to step forward with the succession?”
“So Vice Chairman Jin Young-gi hasn’t shown himself for this merger, and Jin Young-jun has been making the rounds?”
“Probably. Vice Chairman Jin Young-gi, who will transfer all his shares, is now advertising himself as a toothless tiger. He’s trying to raise his son.”
It’s almost tearful to see him trying to be a parent.
“Chief.”
“Yes.”
“It seems the rumors were wrong.”
“What rumors?”
“The rumor that you’re the real power. It’s unprecedented for someone in power not to be involved in such an important matter.”
“Hey! Director Jin!”
He shouted again, flaring up, and I waved my hand lightly.
“Calm down. I’m saying this for your own good…”
“What? For my own good? I’m speechless…”
I smiled at him as he clicked his tongue.
“At the end of the administration, a big event is happening, and you’re left out. It seems the VIP doesn’t intend to take you along. Think carefully and switch sides. If you need help, just let me know. I’ll assist as much as I can.”
His face turned red. It meant he had already sensed it himself.
“I’m sorry if I was too harsh earlier, but please understand. I’m in a bit of a rush myself. Haha.”
He stood up with a smile and gave a slight bow.
“No, it’s my fault for being presumptuous. I’ll look into this matter further and get in touch if I find anything new.”
“Alright. Oh, and I’ve put a few more boxes in the trunk. You’ll probably need more money soon, so don’t hesitate to reach out if you do.”
Leaving him bowing deeply once more, I exited the hotel.
＊＊＊
“Vice Chairman Jin Young-gi threw everything he had into this. People are turning a blind eye because of their past connections.”
The news Chairman Lee Hak-jae gathered after stirring up Yeouido wasn’t promising.
“They’re suggesting it’s time to wrap things up. They think the electronics and trading divisions should go to the eldest son, as that’s more in line with our country’s customs. They find the noise from the split in Sunyang uncomfortable.”
“So… they’ve even managed to garner sympathy?”
“Sympathy is scarier than admiration. It’s the kind of feeling that makes people want to open their wallets to help.”
The eldest son, and the old vice chairman’s plea.
Who would’ve thought my uncle, who once ruled the world as if it were his own, would resort to such petty tactics?
“How far have they gone to be so confident about the merger? Don’t they need at least three major institutions to back them?”
Chairman Lee handed over a few documents.
“I’ve categorized the current share distribution. They’re planning to sway public opinion to get the small shareholders to vote in favor of the merger.”
“All the small shareholders? Is that even possible?”
Pointing at me, Chairman Lee said, “This is your mistake. You’re the one who gave them the reason to rally the small shareholders to their side.”
Me?
What did I do wrong?