Chapter 71: The Third Confrontation
As the door to the chairman’s office swung open, Lee Hak-jae stepped aside to let someone in.
Chairman Jin, who had been seated on the guest sofa, made a move to stand but then settled back down.
“So, the Prime Minister sends a messenger? He’s grown bold.”
The messenger, who had been walking in slowly, quickly scurried over and bowed deeply at Chairman Jin’s curt remark.
“There’s been a misunderstanding, Chairman. Given the current political climate, there are too many eyes watching. He insisted I convey his apologies.”
“Alright, alright. Just take a seat.”
Deputy Minister Kim Sung-soo sat down, still bowing his head.
“You know why I wanted to meet the Prime Minister, right?”
“Of course, Chairman.”
“I heard the IMF approved a $55.5 billion support package. That guy, Kang-something, promised it yesterday, didn’t he?”
Kim Sung-soo blinked, unable to respond.
“You… don’t know, do you?”
“Chairman, it’s not that. I’m just surprised you know about it. It happened just last night, or rather, early this morning…”
“Don’t ask who my eyes and ears are. Just answer. Is it true?”
“Yes, it is.”
“How much is coming in the first round?”
“$5.6 billion. It’s ready to be injected immediately.”
“I don’t know what you plan to do with that money, but let Sunyang Group use $1.5 billion. That’s reasonable, right?”
Kim Sung-soo placed his hands politely on his knees, looking troubled.
“Chairman, that’s a bit… We’ve decided to release it to the commercial banks first. Export companies are lining up with letters of credit. We need to free up their funds to prevent a chain of bankruptcies.”
“Saving the small shops first, are we?”
“Yes.”
“Get out.”
“Ch-Chairman.”
Kim Sung-soo perched on the edge of the sofa, sweating nervously.
“Do you take me for a fool? The election is just around the corner, isn’t it? You think I don’t know you’re announcing support for small businesses first to avoid losing votes by backing the conglomerates?”
“N-No, that’s not it.”
“You people… When you need election funds, you raid my pockets, but when I need something, you fill someone else’s? Whose logic is that?”
Chairman Jin’s sharp words left Kim Sung-soo speechless once more.
“Deputy Minister Kim, when’s the second round of funding?”
Lee Hak-jae, who had been quietly observing, stepped in to help the flustered Kim Sung-soo.
“End of December. Right after Christmas.”
“And the amount?”
“$2 billion.”
Chairman Jin slammed the armrest of the sofa.
“Then give me that. Agreed?”
As if the conversation was over, Chairman Jin stood up.
“Chairman.”
“What? Still got something to say?”
“How can I promise that?”
“Then why are you here? I assumed you had the authority from the Prime Minister, which is why I entertained you. If someone without authority has been talking to me all this time, know that your career as a public servant is over. Think carefully before you speak.”
It’s the moment when a public servant feels the most humiliated and insulted.
Someone without authority.
In an organization where authority determines one’s worth, being told you have none means you’re not even worth dealing with.
“Chairman, this isn’t something I can promise on my own. Not even the Prime Minister… or the President can promise it. It’s only possible if the ruling party wins the election and retains power. If the opposition takes over, it’s just empty talk.”
“I gave you money to win! If you can’t win even after spreading that money around? Half the people vote blindly for number one, and you can’t win with that?”
The election remains a tight race, with no clear winner in sight.
Unable to respond, Kim Sung-soo looked to Lee Hak-jae for help.
Lee Hak-jae gave a slight nod, encouraging him to speak.
“Yes, Chairman. We’ll win and repay your kindness.”
“Stop the flattery and go. Make sure that $2 billion ends up in my pocket.”
As Kim Sung-soo bowed repeatedly and quietly left, Chairman Jin let out a sigh.
“The Prime Minister’s playing it safe. The game’s over.”
“According to the intelligence team, it’s a close race, but the opposition is slightly ahead.”
“And that troublemaker? Have you met him?”
“Yes.”
“What did he say?”
“He insists he won’t withdraw.”
“He’s really stirring things up. Doesn’t he realize that running as number three and taking votes from number one won’t work? It’s not like he’ll get another chance next time. Is he an idiot?”
“Once they’re high on the campaign trail, no one’s in their right mind. Seeing their supporters makes them believe they’re destined to be president.”
The two exchanged a look of exasperation.
“By the way, shouldn’t we give Deputy Minister Kim something?”
“I already put a box in his car trunk.”
“Good job. He needs something to keep his spirits up after all the flak he’s been taking.”
As the atmosphere in the office calmed, Lee Hak-jae spoke cautiously.
“Chairman, could you tell me who the Miracle Owner is? I’d like to meet them and request their cooperation.”
“No need. I’ll handle that. You visit the opposition camp. Hand out a few bottles of Bacchus and drop a hint. Tell them if they prioritize giving us the $2 billion, the Federation of Korean Industries will actively cooperate with the next administration.”
Lee Hak-jae bowed and left the office.
Alone in the office, Chairman Jin picked up a piece of paper from his desk.
“17.7%…”
That’s the maximum share he could offer to Sunyang Motors.
17.7% influence. Not for receiving $1 billion, but just for facilitating the exchange.
Of course, they say they’ll reintegrate it into Sunyang Group after the merger, but he knows better.
What’s in hand is meant to be kept, not returned.
He didn’t feel regret. If he were to distribute it evenly among his five children, he could give away 20%. Though it skips a generation to his grandson, the grandson is more than qualified.
Yet, a worry weighed heavily on one side of Chairman Jin’s mind.
Looking at his grandson often felt like looking in a mirror.
Once something is in his grasp, he won’t let it go, and he knows the joy of taking from others.
17.7% is not the end, but merely the beginning.
If his grandson, who values calculation over blood ties, sets his sights on Sunyang Group, the rest of his children and grandchildren might end up penniless and cast out.
Of course, his grandson would make Sunyang Group even grander, but he would never share the right to enter that grand castle.
Chairman Jin shook his head.
”…Still, seeing how he takes care of his father, he’s got a deep heart.”
At such a young age, he’s already turning his father’s dreams into reality.
He needed to shake off his worries.
He should be more concerned about the group than his son.
Even if he loses it, he found solace in knowing the raider was his own grandson.
“Here, these are the most stable ones. If they can just get through this crisis, they’ll be fine.”
Taking the list from Oh Se-hyun, I scanned the names.
“Based on the financials, which one seems the most promising?”
“Naturally, the one at the top of the list. They’ve got great technology, so their profit margins are high. You’re not thinking of going for size, are you?”
“No, of course not.”
The name at the top of the list: Daeah Construction!
Ranked fifth in contract orders.
In my heart, I wanted to acquire Daehyun Construction, but as the second-largest in the industry, they were already restructuring to weather the IMF crisis, so I gave up on that idea early on.
“Automobiles and construction… they do go well together, don’t they? Haha.”
“Construction is the first step to becoming a major corporation, isn’t it?”
“But will Daeah Construction really collapse? They’ve got some retained earnings and plenty of overseas contracts.”
“Uncle, don’t you trust me yet? In our country right now, only Sunyang and Daehyun can survive this crisis on their own. The rest are like candles in the wind.”
“Even so, Daeah Construction can hold on with a little government support!”
I didn’t argue against Oh Se-hyun’s skepticism.
If a company isn’t this stable, there’s no reason to covet it. And there’s no need to reveal my ambitions.
After the 1997 IMF crisis, South Korea entered an era of survival of the fittest. Until now, it was a world where carnivores found it hard to hide among the herbivores on the plains.
But from now on, it’s a jungle where the few carnivores will bare their merciless teeth and roar.
Having decided to become the king of that jungle, all that remained was to act without restraint.
“Let’s wait and see.”
With those words, I rose from my seat.
I needed to finalize the merger issue with my grandfather.
Leaving the Yeouido office, I got into the car.
“Mr. Kim, take me to the chairman’s residence.”
“Yes, sir.”
Driver Kim Yoon-seok accelerated. With the soaring gas prices, traffic had decreased, making driving easier.
“Sir, based on what we’ve gathered and the information Team Leader Shin Seok-ho has compiled, it seems the Hansung Ilbo is on our tail.”
“Hansung Ilbo? The family we’re about to be in-laws with?”
“Yes.”
“Are you sure?”
It’s an unexpected result. I was only thinking about internal threats, but now there’s an external one drooling already.”
“We actually figured it out a bit earlier, but we were cautious because they might become the chairman’s in-laws, so the report was delayed.”
“Is that so?”
“Moreover, the chairman is already aware. The intelligence and security teams reported it to him, and he instructed them to pretend not to know. That’s why we were confident.”
He’s already aware but pretending not to!
What’s his game?
Does he think the Hansung Ilbo is so insignificant that it’s not worth worrying about, no matter how much they squirm? Or is he being cautious because they’re potential in-laws?
I need to learn from each of my grandfather’s seemingly trivial decisions.
Gathering and utilizing small details—that’s strategy and tactics.
Just as I was thinking about subtly bringing it up with Grandfather, the car pulled into the estate.
Before stepping out, I took out the Hansung Daily corporate card.
“Use this for the strategy team’s dinner tonight. Don’t worry about the cost—go all out, even book a private room if you want.”
There’s something incredibly satisfying about being generous with someone else’s money.
“How does it look? That should be enough.”
The paper was filled with numbers, representing the shares of the Sunyang Group’s subsidiaries.
The final total: 17.7.
Combine 17.7% of Sunyang Group with eight companies from Ajin Group.
And the unified company will be mine.
I didn’t ask why 17.7% or the reasoning behind it. There was only one question that mattered.
“Grandfather, is this a deal or an inheritance?”
His eyebrows twitched, but then he burst into laughter.
“Oh, you rascal! Is there no end to your greed? Ha ha ha!”
When his hearty laughter finally subsided, he gave me the answer I was hoping for.
“It’s a deal. Inheritance? Why would I leave you an inheritance? That’s for my children. You can get yours from your parents.”
“My father isn’t a tycoon like you, Grandfather, so I can’t really expect much…”
“That’s your luck, ha ha.”
It sounded like he might share a bit with my father too.
Well, that’s a bonus.
“This is my second and final offer. Sign the papers quickly and transfer the billion dollars.”
The sharp glint in Grandfather’s eyes suggested urgency.
I decided against pushing my luck any further.
Bringing up anything else might upset him.
Even a vast lake ripples with a single stone.
Even the strongest bond can crack with a single disappointment.
I couldn’t afford to make a mistake that would shatter the ice.
“Yes, I’ll prepare the billion dollars at an exchange rate of 1,600 won.”
My straightforward response seemed to catch him off guard.
“Why so surprised? I’ve always been on your side, Grandfather. With such a generous offer, I won’t be greedy.”
I expected him to look pleased, but instead, he wore a sly expression.
“What are you plotting now? Do I look like someone who’d fall for your sweet talk?”
His perceptiveness was truly remarkable.