[083] Tools for a Purpose 3
“Hey, it’s me. Get all our analysts together. Call Samjeong Accounting and have them send over every accountant they can. Put the entire field investigation team on standby. We’re meeting in ten minutes.”
While Oh Se-hyun was gathering people for tomorrow, I called my grandfather.
“Grandfather, can I come see you right now? I have something urgent to discuss.”
We need to be prepared for any tricks Daehan Construction might pull. If they try anything underhanded, only Grandfather can stop them.
As Oh Se-hyun got off in Yeouido, the car sped across the Mapo Bridge.
I rushed into Grandfather’s study, and he greeted me with a smile.
“Goodness, boy. You’re out of breath. What’s the matter? Has the IMF crisis hit again?”
“If it had, I’d be flying, not running.”
We still have $1.8 billion left. The worse the foreign exchange crisis gets, the more valuable it becomes, so I’d be soaring.
“You wouldn’t have called me to stay put in the study unless you needed my help.”
“Yes, I desperately need it.”
“Spit it out. I’ll listen and decide how much it’s worth.”
He always talks about money, but he gives back more than he takes. He’s always generous to his grandson.
“We’re targeting Daehan Construction. They’re crucial for this year’s Mapo DMC project.”
“Get to the point. Skip what I already know.”
“The owner and management are definitely draining the last resources from the failing company. I plan to step in and take over before they do. What do you think?”
“You’ve hit the jackpot, boy! Ha ha.”
Grandfather laughed heartily, slapping the desk.
Having lived nearly eighty years, he’s seen it all. He seems to understand exactly what’s happening and what needs to be done.
“Who’s the president of Daehan Construction? Kang…?”
“President Kang Moo-sung. His brother, Kang Moo-jin, is the executive director.”
“Executive director? Have you met them already?”
“Yes, I just confirmed it.”
“Are you sure they’re embezzling money?”
“Yes. As soon as Miracle secured 5% of Daehan’s shares, they contacted us, wanting to buy them back.”
“5%?”
Grandfather raised an eyebrow.
“I’ve heard there are plenty of scavengers in the stock market who do that. This must be Oh Se-hyun’s idea.”
Manipulating a company with just 5% of its shares isn’t something that only happens to failing companies. Even healthy companies can be targeted by those who buy shares to become troublesome major shareholders and then sell them back at a high price.
However, acquiring 5% of a healthy company’s shares is costly, so ordinary scavengers don’t dare try.
“Yes. When Geukdong Construction collapsed, Daehan’s stock price plummeted, and rumors of bankruptcy spread. We secured the shares easily without spending much.”
“They must be panicking. If you demand an emergency shareholders’ meeting tomorrow, they’ll be terrified.”
“Instead of a meeting, I plan to audit their books tomorrow and gather evidence of their embezzlement.”
“Are you planning to throw them in jail?”
“Yes. We need to recover all the assets they’ve siphoned off, clean up the company, and start fresh.”
“Hmm… sounds like a bargain.”
Grandfather has already done the math.
“The Kang family must hold a significant amount of shares. You’ll need those to secure management control.”
“If we recover the embezzled cash and assets as fines and make the shares held by the Kang family belong to Daehan Construction, the number of shares needed for management control won’t be that large. The company’s shares are…”
“The CEO exercises the voting rights.”
“Exactly.”
Grandfather fell silent, organizing his complex thoughts.
Finally, he spoke.
“Time is short, and the road is long, isn’t it? You need to complete the acquisition and normalization of Daehan Construction by June to proceed with the Mapo project with your uncle, the future mayor of Seoul.”
“Yes. That’s exactly what I need your help with.”
“Time is more precious than money…”
“It can be bought. While we can’t buy more years, we can certainly buy a better life with money, can’t we?”
“Are you serious?”
“You’ve bought the lives of 100,000 employees of Sunyang Group with their salaries, haven’t you?”
“You cheeky rascal, making your old grandfather feel guilty. Ha ha.”
He didn’t look guilty at all, just amused.
“First, we need to impose a travel ban on Kang Moo-sung and his entire family. We should also investigate the money they’ve already moved overseas and instruct the Ministry of Justice to start an investigation.”
Instruct an investigation? Not request?
The word “instruct” came out so naturally.
“You can do that, right?”
“Depends on how you handle things.”
I stood up and went behind Grandfather, placing my hands on his shoulders and gently massaging them.
“This isn’t enough, is it? At least help with the travel ban.”
“Ha ha. Give me a good massage.”
Grandfather picked up the phone.
“Prosecutor Kim, are you busy?”
Thank goodness.
It’s the Seoul High Prosecutors’ Office. Just a little shoulder massage, and he’s helping with the travel ban.
”…That’s right. In these economic times, we can’t let them drain a dying company for personal gain… No, no. First, we need to stop them from fleeing overseas… Yes, yes. I’ll look into it more and let you know. Let’s have a meal together soon.”
Grandfather hung up the phone and turned to me with a smile.
“Is this satisfactory?”
“Thank you.”
I pressed harder on his shoulders.
“To move quickly, make sure to gather solid evidence when you review the accounting records tomorrow. File charges for breach of trust and embezzlement. Then, when the tax office and prosecutors move in, they’ll surrender.”
“Surrender?”
I’m not sure what he means by surrender. What does Grandfather mean by it?
Grandfather stopped my massage and had me sit down.
“Do-jun.”
“Yes.”
“What’s your exact goal in acquiring Daehan Construction?”
“To successfully complete the DMC project this year…”
“Let’s stop there.”
“Pardon?”
“Let’s focus on the immediate tasks and worry about the rest later.”
Focus on the immediate goals and tasks at hand, especially when time is of the essence.
“To proceed with the project with your uncle after the local elections in June, you need to take control of Daehan Construction by the first half of the year, right?”
“Yes, that’s right.”
“If the prosecutors move and you secure evidence, starting a trial for breach of trust and embezzlement will take years. Meanwhile, Daehan will go bankrupt, and the creditors will be left to deal with it. It’ll be at least two years before it falls into your hands.”
Time is indeed the issue. I reached out to Grandfather to shorten it. He’s giving me the answer now.
“So your idea of surrender is different.”
“Yes. Offer them a way out and handle it quickly.”
“A way out…?”
“Use the investigation and tax audit as leverage. Make them choose between losing everything and going to jail in two years or handing it all over now and escaping abroad with enough to live on.”
A thrill ran through me like an electric shock.
When I first heard the word “surrender,” I vaguely sensed it meant leaving room for negotiation.
What truly shocked me was the power to control the pace of a prosecution investigation.
Grandfather wields the prosecution like his own sword. He draws it when he wants and sheaths it when he wants… He starts and stops investigations at will, including the tax office…
This power wasn’t built with Sunyang Group’s money and shares.
It’s been built over many years.
He gave money to public officials, and in return, they sold their consciences. Once they did, they were in his debt…
This cycle has become Sunyang’s strength.
Even if I spent all the trillions I have now, I couldn’t gain Grandfather’s power.
The trillions I have might be several times what Grandfather spent. But time is what bridged that gap.
I realized how reckless my words about buying time with money were. It was like an electric shock.
I gathered myself and spoke.
“I’ll handle the surrender. Can you keep the prosecutors and tax office moving?”
“Depends on how you handle things.”
“I’ll do my best.”
I bowed my head, speaking in a soft, melting tone, and Grandfather smiled playfully.
“Don’t just talk.”
“Then tell me what you want. I’ll listen carefully. Ha ha.”
I replied jokingly, but Grandfather’s expression turned serious as he pondered.
When he finally spoke, his request was unexpected.
“When you acquire Daehan Construction, most of the management positions will be vacant, right? They’ll all be kicked out with a pittance. Isn’t that so?”
“Yes.”
“I’ll send some people. Put them in those positions.”
It’s a difficult request to agree to easily.
If the management is filled with Grandfather’s people, whose company is Daehan Construction?
If the CEO and key decision-makers are all Grandfather’s people, Daehan Construction becomes a subsidiary of Sunyang Construction.
As I hesitated, Grandfather asked.
“You don’t have your own people, do you? If you don’t use mine, do you have anyone in mind?”
“There are plenty of people from already fallen companies like Dong-A Construction and Geukdong Construction. And they were planning to promote a bunch of department heads to directors at Dae-A Construction. It might be good for refreshing the atmosphere.”
“Oh, you thought that far ahead?”
“Do you think it’s a good idea?”
“Good idea? Of course not. Haha.”
His laugh was a clear mockery.
“Executives in construction companies are practically half gangsters. They’ve dealt with rough laborers from construction sites and endured sandstorms in the desert. They have the guts to bulldoze through entire neighborhoods. These are the guys who drink makgeolli at lunch and run the site. If you mix them up and put them in charge? They’ll be brawling every day.”
I knew construction folks were tough, but I thought they’d become more political once they reached executive levels. Was I wrong?
Grandfather looked at my flustered face as if I were an amusing toy.
“Confused, aren’t you? Can’t tell if the cup I’m offering is poison or a tonic? Worried that the company filled with my people might get snatched away by Sunyang Group? Haha.”
“No, it’s not that. I told you, I’m giving Dae-A Construction to Sunyang Group.”
“Oh, come on. You expect me to believe that? You, with your insatiable greed? Haha.”
I waved my hands frantically, but it was no use against Grandfather, who seemed to see right through me.
“You’ve got no time, no strength, no people… all you’ve got is money. If you refuse my offer, Dae-A Construction and whatever DMC is will vanish. So what’s there to ponder? Isn’t that right?”
He was right.
Pondering is a luxury when you have choices.
And I should trust the consistent common thread in everything Grandfather has given me so far.
People.
Maybe he’s giving me people again.
Those half-gangster executives to take over Dae-A Construction. Perhaps the hidden message is to make them my own.