Chapter 114: The Tug-of-War for Power

“Do we not know what was said?”

“We can easily guess, so is there a need to call each person in and ask? It would only stir up unnecessary caution, making the vice-chairman more careful and secretive, which would make observation more difficult.”

“Let’s hear your guess then.”

“He probably asked them to support him with the group shares held by their subsidiaries. In return, he’d promise them preferential treatment as key contributors when he becomes chairman. Something along those lines, I imagine.”

Chairman Jin frowned, clearly displeased with his eldest son’s scheming.

“Again? Is that all the underhanded dealings?”

“He instructed his son, Executive Director Jin Young-jun, to meet Do-jun. President Jin Dong-ki also met with him directly.”

“Dong-ki did?”

“Yes. He went to Yoon-ki’s house for a drink.”

Even the second son, who usually maintained the calm of a quiet lake, has stepped forward!

The ripple effect is significant.

“Everyone’s scrambling to bring Do-jun over to their side.”

“They likely felt a sense of crisis, thinking the deciding vote might fall into Do-jun’s hands.”

“Foolish bastards. If they just did well themselves, there wouldn’t be any issue. They just don’t get it….”

Lee Hak-jae watched Chairman Jin click his tongue and cautiously inquired.

“How much are you considering, sir? Do you think Do-jun has enough influence to actually hold the deciding vote?”

“What do you think?”

“We must avoid the risk of the group being fragmented.”

“You mean giving it all to one person…. Are you saying Do-jun isn’t included in that?”

“We can’t ignore his physical age.”

Chairman Jin nodded in agreement.

The war isn’t just within the family. Enemies lie in wait everywhere outside as well.

“Hak-jae, if the person holding the deciding vote sways it, the other two will be watching closely, won’t they?”

“That’s right.”

“Then who’s the strongest? The one swaying the vote? Or the ones watching?”

Lee Hak-jae was taken aback by Chairman Jin’s casual tone while discussing such a serious matter.

If it’s enough power to sway management control, how much inheritance does he intend to leave?

“Are you serious?”

“About what?”

“Are you thinking of letting Do-jun sit in the middle of the seesaw and balance the power?”

Chairman Jin avoided Lee Hak-jae’s direct question. His heart and mind were not yet aligned. The decision needed to be postponed, but the groundwork had to be laid quickly.

How much time does he have left at his age?

“First, come up with a plan to inflate the controlling shares. And find a way to transfer my shares as well.”

Lee Hak-jae was surprised and had much to say, but he simply nodded.

“Yes, sir. I’ll prepare it.”

He was only looking for methods, not implementing them. He would offer his opinion again when the chairman instructed him to execute, so he kept his words to himself.

“And is the accident investigation ongoing?”

“Yes. We have someone tailing the truck driver. We’re monitoring him thoroughly around the clock, so if there’s someone behind it, they’ll be exposed.”

His expression darkened as he recalled the unpleasant event.

Seeing Chairman Jin’s hardened face, Lee Hak-jae decided against mentioning one more report.

It concerned the chairman’s chauffeur.

In Chairman Jin’s words, the driver was the only one who knew about the Gunsan trip beforehand.

Since he resided in the detached building in the corner of the chairman’s vast mansion, no tailing was needed, so they were investigating him internally.

The prosecutor from the Seoul Central District Prosecutors’ Office, a Soonyang scholarship recipient, had already investigated his accounts.

Finding nothing suspicious, they were expanding the investigation to the driver’s family and relatives, and had even installed eavesdropping devices in the detached building for surveillance.

It would be better to report it if something came up. After all, the chairman wasn’t in the best of health.

* * *

“Did you find anything out?”

“Yes. There aren’t many privately owned lands suitable for transactions in Mapo Sangam-dong.”

“‘Not many’? What does that mean? I told you to investigate it thoroughly!”

The two team leaders repeatedly bowed their heads before the shouting Jin Young-jun.

“We apologize. There are none at all.”

“‘None at all’? Are you saying no one lives in Sangam-dong?”

“Someone already swept it all up. We’ve checked the registry as well. The transactions took place around April and May of last year.”

Jin Young-jun could guess who that someone was.

Oh Se-hyun, his aunt, and those connected to the political sphere were the likely culprits.

Seeing Jin Young-jun’s deep frown, the reporting team leader hurriedly spoke.

“Although they swept it up, the quantity isn’t that much.”

“Then what about Susaek-dong? Did they sweep that clean too?”

“No. There were hardly any transactions there. We can secure as much as you want, sir.”

Jin Young-jun received the thick stack of documents the team leader handed him.

“This is the current status of Susaek-dong. If you instruct us, we’ll begin the purchase process immediately.”

“Alright. Get out of here.”

Left alone, Jin Young-jun made various phone calls, gathering people. Since becoming an executive director at Soonyang Construction, he’d never been this busy.

Shortly after, his secretary informed him that everyone was gathered in the conference room, and he rushed over.

“Did you check with the bank?”

“Yes. Your unsecured personal loan is possible up to 2 billion won.”

“Only that much?”

Jin Young-jun frowned at the lower-than-expected amount.

“Each branch has a limit.”

The head of finance presented several prepared documents.

“Your two material supply companies can each get 20 billion and 16 billion won respectively. However, there’s a condition….”

“What is it?”

“It’s a formality, but they require your personal assets as collateral.”

Jin Young-jun felt a surge of anger but barely managed to suppress it. He didn’t have time to lose his temper.

“Do it. And pull some advance payment from Soonyang Construction to my material companies. About 10 billion won.”

Everyone in the meeting reacted with surprise.

“E-Executive Director, to move that amount of funds, we need the CEO’s approval….”

“Since the IMF crisis last year, there’s a lot of unsold apartments and commercial properties. The company’s finances aren’t good, so taking out 10 billion won….”

As complaints arose from all sides, Jin Young-jun finally exploded.

“I said I’ll take care of it! I’ll get President Hong Song-cheol’s approval, so just give me the money. Execute first, report later! Don’t you know that? I’m going to buy land with that money and then get a huge loan using the purchased land as collateral. If there’s a problem, I’ll return the advance payment! Is that clear enough?”

He slammed his hand on the desk, silencing everyone.

It sounded plausible, but it was hard to believe.

He’d borrow money from Soonyang Construction to buy land, and then use that land as collateral for a loan, which he’d pour back into more land instead of repaying.

But what could they do? Even if he was like this, he was still the owner’s grandson. They had to stay sharp and pick the right side.

“Don’t say anything unnecessary and prepare the documents thoroughly. Make sure everything can be processed within a day when I give the order. Understand?”

“Yes, sir!”

Everyone bowed their heads, and Jin Young-jun felt a little better.

But this wasn’t the end. He needed to gather more from other subsidiaries, little by little. He needed to pump in at least a hundred billion won to feel like he had a real stake.

‘Ah… damn it. I’m marrying the bank president’s daughter. Wouldn’t it be great if I could get a huge loan right now?’

A wave of regret washed over him.

Still, he’d casually mention it to his wife. Her family was rumored to have a lot of hidden wealth.

He needed to prepare ample funds and wait for Jin Do-jun’s call.

* * *

“Coordination with the Blue House and the National Assembly is complete. It will help revitalize the construction industry in Seoul, and the justification as part of a cultural policy is gaining positive responses.”

“That’s a relief, Mayor. It seems you’ll make the announcement at your inauguration ceremony on July 1st?”

“No. I’m planning to issue a public notice without an official announcement. That will be more advantageous for proceeding with a negotiated contract with Dae-ah Construction. Of course, we’ll put out a bidding announcement for a very small portion.”

Oh Se-hyun and his uncle were beginning to work in sync.

“But Representative Oh, I still haven’t met my father-in-law. If Soonyang Construction gets involved, I won’t have a choice either. You understand, right?”

His uncle was bringing up old news.

He still didn’t realize that now that I was a candidate for succession, there was no way my grandfather would take away my livelihood.

I was inwardly surprised but played it cool. My aunt must not have given her husband any information.

Seeing the wavering in my eyes, Oh Se-hyun made the first move.

“Yes. If Chairman Jin’s mood sours, he might cancel the entire project. That’s why we need our Do-jun. Haha.”

The expectations in their eyes as they looked at me were palpable.

“I don’t think that will happen. My grandfather is in the hospital right now, so I doubt he’ll be greedy for this as well. Anyway… I’ll talk to him.”

“Good. Let’s rely on our Do-jun.”

His uncle smiled and lightly grasped my hand.

“Do-jun, Representative Oh and I have some things to discuss, so could you excuse us for a moment?”

“Mayor Choi. There’s nothing related to this that Do-jun shouldn’t hear. He’s the starting point of all this, isn’t he? And I’ll tell him everything anyway. Just speak freely.”

Oh Se-hyun subtly gestured for me to sit back down as I started to rise.

“Ah, is that so? I feel bad for making Do-jun listen to this.”

I gave his uncle, who wore an awkward smile, a reassuring look, and he cautiously revealed his plan.

“My term ends in June 2002. As you know, the presidential election is at the end of that year.”

The presidential election! Of course!

Whether it was his own ambition or not, my aunt had definitely fanned the flames.

“Are you perhaps dreaming of running for president?”

Oh Se-hyun was visibly trying hard not to show his astonishment.

“The era of the two Kims is coming to an end. Shouldn’t South Korea become a bit younger? And having served as a prosecutor, a national assemblyman, and the mayor of Seoul, I won’t hear any complaints about lacking qualifications if I run for president.”

“Ah, that’s certainly true. You are well-qualified. However….”

“However, what?”

His uncle began to stare intently at Oh Se-hyun’s lips.

“Being the son-in-law of a chaebol… while it’s acceptable for the mayorship of Seoul, if the president and a chaebol are practically family, would the public accept that?”

His uncle started to foam at the mouth at the negative opinion.

“There are still four years left. If I create just one monumental achievement during those four years, I can sufficiently dilute the chaebol image since I’m a son-in-law, not a son.”

“Very well. Let’s put that issue aside. What is it you want to say to me? It doesn’t seem like you just wanted to tell me about your presidential ambitions….”

Oh Se-hyun was a sly one.

He clearly knew what his uncle was trying to say but deliberately made him say the uncomfortable things himself. Was he recording this?

“To shed the image of being a chaebol’s family member, you absolutely must not accept any funds from Soonyang Group during the presidential election. Presidential campaign funds aren’t cheap….”

“Are you suggesting that Miracle take responsibility for those funds?”

“Ah, I’m not asking you to take responsibility for all of it. Actually, the biggest obstacles to my presidential aspirations are, ironically, the Korean chaebols themselves. If I enter the Blue House, won’t they assume the Soonyang Group will take off? So, I plan to receive funds from chaebols other than Soonyang. I need to show them I’m not their enemy.”

Everything his uncle was saying was definitely coming from my aunt’s head.

She needed to ensure there was nothing to be used against Grandfather so she could aim her blade at Soonyang.

If she ousted her brothers with the president’s power, the Soonyang Group would automatically fall into her grasp, that was her calculation.

Listening quietly, I realized this was a very good opportunity. Of course, the presidency was a story for later. Right now, there was something I absolutely had to do as the mayor of Seoul.

If they heard my plan, both my uncle and aunt would be delighted.

“Uncle. Shall I completely erase the image of you being a chaebol’s family member?”

His uncle was startled by the sudden remark.