[034] It’s Mine 1.
When I went out to the garden to grab the newspaper, I ran into my father, dressed in a suit.
“Oh? Dad, where are you off to?”
“Ah, today’s the premiere. I thought I’d head to the theater and see how things are going.”
Watching him rush out like an office worker late for work made me chuckle. My father, who had never really worked a day in his life, was now throwing himself into it with everything he had, and today was the day of reckoning.
The theater wouldn’t be open this early, but he probably thought it was better to wait there than to pace around the house. I completely understood that feeling.
After reading through all three newspapers in the living room, I realized something was seriously wrong. This was orchestrated. Every paper was attacking Ajin Motors?
The morning papers had started it, so it was obvious the evening TV news would blow it up even more. If this happened a few more times, there’d be an official investigation, and the media would dig even deeper into Ajin Motors…
Why now?
I barely remember what happened in ‘91. But the shockwaves of the financial crisis that began in ‘97 hit Ajin Motors hard, and by ‘98, Daehyun had swallowed it up.
Could the future be cracking? Is something starting to change? Or is this just another round of corporate bashing? A simple case of the government trying to rein in big business?
I folded the newspaper and approached my mother, who was preparing breakfast.
“Mom, when are we going to Grandpa’s?”
“Tomorrow. Why?”
“Can I go ahead by myself?”
My mother paused, her hands still.
“Why? Is something wrong? Did Grandpa ask you to come early?”
“No, it’s just that once I start middle school, I won’t be able to visit as often.”
“Ha, really?”
She laughed lightly, shaking her head.
“Alright, have breakfast and then go. Make Grandpa happy.”
“Okay. By the way, aren’t you going to the theater? Today’s the premiere.”
“What if the theater’s empty? I’m too nervous to go.”
I couldn’t reassure her. I had no information about my father’s movie. It might be something too old to remember or a film that never existed in the first place.
I was just giving him a chance, and how he chose to live the rest of his life was up to him. Watching from the sidelines without interfering was part of the fun.
“Oh, Do-jun, you’ve grown so much every time I see you. Good, good.”
He no longer lifts me up in his arms. Or rather, he can’t. I’ve grown faster than he’s aged.
“My boy, Grandpa has some work to do. Can you stay by yourself for a bit?”
“Sure. I’ll be in the living room.”
A sense of unease kept growing.
The article that broke just before the holiday and the study filled with people. Just the neatly arranged shoes at the entrance suggested nearly ten people.
Grandpa wasn’t the type to keep people tied up right before a holiday. There was no reason for them to gather in the study to watch someone else’s house burn.
Could something that was supposed to happen seven years from now be happening now?
What kind of conversation was taking place in that study?
I waited anxiously.
Contrary to Do-jun’s expectations, the study was abuzz with activity.
It wasn’t a neighbor’s house on fire but rather a spectacle called Operation Desert Storm in a distant land.
On January 17, a coalition led by the U.S. launched Tomahawk missiles at Iraq to drive them out of Kuwait, starting the war.
While the coalition decimated the Iraqi military’s equipment and command structure, causing 70,000 casualties, the U.S. lost only 294 soldiers, 145 of whom died in accidents, with 149 in combat, including 35 from friendly fire.
Rumors began to circulate that Iraq was withdrawing from Kuwait under overwhelming firepower, and the war was nearing its end.
“When will this end?”
“They say less than a week. The U.S. and the U.K. are already discussing post-war reconstruction.”
“And what about our country? What’s the government saying? Any chance we can get a foot in the door?”
Chairman Jin’s furrowed brow suggested he had already given up hope.
“Our Middle East branch and European office are moving quickly, but government-level involvement in reconstruction seems unlikely.”
“Then we better line up well. We need to build at least a bathroom in the desert and get a few drops of oil, right?”
The directive was clear: secure reconstruction projects and oil from the Middle East. The heads of the construction and oil companies nodded at the chairman.
“We’ll do our best.”
“Can I trust you?”
“Yes, Chairman.”
Though not entirely convinced, it was clear he didn’t want to be harsh right before the holiday. He quickly moved on to the next topic.
“You’ve all seen today’s papers, right? That’s a Scud missile. We’ll concentrate our firepower and send in the occupying forces soon. Are you ready?”
Everyone responded with determined faces. Acquiring Ajin Motors was the biggest project for Sunyang Group this year.
The occupying forces referred to capital. They would gather as much as possible, and when the chairman gave the signal, they would swiftly buy up shares under borrowed names.
Once they secured a certain amount and received tacit government support, they would proceed with the M&A like lightning.
Just like Operation Desert Storm, it had to be over in a flash.
“Everyone, go home. Spend time with your families, give the kids some pocket money, and rest well.”
Everyone stood up, bowed to the chairman.
“Happy New Year and good health, Chairman.”
They seemed ready to bow deeply, but the cramped space saved them.
Once everyone left, only Lee Hak-jae and Vice Chairman Jin Young-ki remained, huddled together.
“How much have we gathered?”
“We’ve acquired 7.4%. It’s spread out under borrowed names in Myeong-dong, so no one will notice.”
Lee Hak-jae spoke cautiously, and Jin Young-ki handed over a few reports.
“Here’s the production line adjustment plan.”
“What’s the key point?”
“We’re leaning towards selling off the truck line.”
Chairman Jin skimmed through the report and tossed it onto the desk.
“Are you confident?”
“Sorry?”
“I mean Ajin. Are you confident you can put it in your pocket?”
Jin Young-ki nodded without hesitation. Saying it was impossible or that he wasn’t confident would only make him look foolish.
“As you said, it’s the best way to become the second-largest in the industry. We’ll aim for the top spot in the country after acquiring Ajin.”
Though his son’s boldness was a bit unsettling, what could he do? He was the eldest son who would inherit most of what he had.
“Then it’s yours to handle from now on. Work closely with Director Lee and acquire Ajin within the year. If you succeed, I’ll give you all the automotive shares.”
Jin Young-ki looked at Chairman Jin in disbelief.
Sunyang Motors’ shares were mostly held by the holding company. Saying he’d give him the automotive shares was akin to handing over the holding company’s shares, essentially the entire group.
Lee Hak-jae was equally shocked.
To decide on succession so suddenly!
“What? Don’t want it? Or are you not confident?”
“No, Father! Thank you.”
Chairman Jin stood up, watching Jin Young-ki bow repeatedly, a bittersweet smile on his face.
“You should go too. Don’t make any mistakes and take care of things. Don’t come early tomorrow; just come for the New Year’s ceremony and leave. You’ll need every spare moment.”
“Yes, Father.”
As soon as Jin Young-ki left, Lee Hak-jae spoke up.
“That’s quite the New Year’s gift.”
“Hmm? What do you mean?”
“You practically announced the group’s succession.”
“What?”
Chairman Jin’s eyes widened as if he’d heard something absurd.
“Isn’t that what you meant?”
“I said I’d give him the automotive shares, not Sunyang.”
Now it was Lee Hak-jae’s turn to be speechless.
“Just transferring half of the automotive shares held by the affiliates should be enough to defend the management rights. That’s all I meant. Of course, even the automotive shares are a big gift.”
“The vice chairman might be quite disappointed.”
“Did he really take it that way?”
“Yes, I thought so too.”
“Ha ha ha!”
Chairman Jin burst into laughter, even slapping the desk.
“Oh dear… Now Young-ki will be all fired up.”
Lee Hak-jae felt a bit relieved at Chairman Jin’s laughter. The succession issue, which would be the most important decision in Sunyang Group’s history, needed to be handled more carefully.
“Grandpa, are you working even during the holiday?”
“What can I do? There’s a lot of work. But it’s all done now.”
As I entered the study, Grandpa was tidying up the newspapers on his desk. Seeing the Ajin Motors article, it was clear that today’s meeting had been about Ajin.
“But Uncle seemed really happy. He left with a big smile…”
“Did he? Must be the holiday spirit.”
His smirk suggested there was more to it.
I couldn’t miss the chance to check the newspapers. I had to pretend I was just curious about the Ajin Motors article.
“Grandpa.”
“Yes?”
“I have something to ask.”
“Go ahead.”
“The article in the paper…”
But I couldn’t finish my question. The title of a thick report caught my eye, buried under the newspapers.
“The Need for Restructuring in the Domestic Automotive Industry and Government Support Measures.”
Damn.
Grandpa was behind all of this!
What on earth was happening?
Despite the upcoming holiday, Ajin Motors’ Chairman Song Hyun-chang couldn’t leave his office.
Every major daily was criticizing his management style as dictatorial, with some even accusing him of embezzlement and misappropriation of funds, questioning his ethics.
Because of these articles, today’s stock price had already hit rock bottom.
He wanted to file a defamation lawsuit immediately, but it was best to avoid a fight with the media.
A whirlwind of thoughts stormed through his mind, but there was only one thing he needed to focus on right now.
This had to be stopped here. It couldn’t be allowed to escalate any further.
Chairman Song Hyun-chang was on the phone non-stop.
Yet, the media insisted it was merely reporting based on tips, and the Blue House distanced itself, claiming it wouldn’t interfere with the press.
His subordinates kept sending in reports, but they were all negative.
Someone had launched an attack, but the enemy’s identity was shrouded in mystery, and their motives were unclear.
The likely suspects were Daehyun, Woosung, Sunyang, and some foreign car companies. There were definitely a few companies eager to use Ajin as a stepping stone into the Korean market.
All of them were much larger and financially stronger than Ajin Motors, formidable adversaries indeed.
Despite it being the dead of winter, he felt a feverish heat coursing through his body, almost unbearable.
Just as he was about to call his secretary to turn off the heater, the intercom buzzed.
“Chairman, you have a visitor.”
“Send them away! I told you I’m not seeing anyone today!”
“Well, it’s just that…”
The secretary’s hesitant voice crackled through the intercom as the office door swung open.
A man in a jumper stood in the doorway, held back by the secretarial staff.
“What the… What the hell is this? Is this place a community center? Can just anyone waltz in here? What are you all doing? Get him out of here!”
He was so furious that even a string of curses slipped out.
“Chairman Song, don’t you remember me? It’s Jo Dae-ho.”
“Who? Jo…? President Jo?”
Chairman Song Hyun-chang suddenly recalled Jo Dae-ho in his business suit.
Wasn’t he the president of Sunyang Motors?