Chapter 176: The Three-Year Bond

“Hold on a moment. Do-jun, what did you just say? Are you sure it’s a three-year bond?”

Vice-chairman Jin Dong-ki’s face lit up with excitement, while Vice-chairman Jin Young-ki was too flustered to speak properly.

“Yes. In return, the sale price will be 1.4 trillion won. Oh, and though it’s not an exact figure, I understand the bank debt is over 400 billion won. So, after accounting for the debt, it’ll be a little over 900 billion won.”

“900 billion won?”

The gears in Vice-chairman Jin Dong-ki’s head were practically audible.

He wasn’t doing a simple calculation. Whether they could repay 900 billion won in three years was irrelevant to him now.

The world changes so rapidly that even predicting one year ahead is difficult. How could anyone accurately estimate a company’s situation three years from now?

Right now, his only calculation was whether or not they could issue bonds worth nearly a trillion won.

Meanwhile, Vice-chairman Jin Young-ki, having lost his grasp on victory, was scrambling for words.

However, since it was family offering a favor, he couldn’t exactly refuse a credit transaction outright, so he kept glancing at his younger brother.

Seeing one man so delighted and the other so anxious was almost comical.

It was like they were vying for a ticking time bomb with a three-year fuse.

Gradual changes are manageable. A few raindrops give you time to seek shelter before a downpour, but a sudden torrential rain soaks you instantly.

However, danger always arrives suddenly and never alone. It comes in pairs or more, like a downpour with strong winds, or a tsunami with a typhoon.

If the credit card crisis in three years is a downpour, then the nearly one trillion won bond maturing could be a gale, or even a tsunami.

If the credit card crisis makes bond recovery impossible and the company’s funds dry up, a one trillion won bond is akin to a nuclear bomb.

I wondered who would take that bomb.

Soonyang Electronics, with its abundant capital, might withstand the gales and downpours. But what about Soonyang Heavy Industries?

It would depend on the heavy industries market in three years, but it wouldn’t be easy. To maximize the time bomb’s effect, it would be much better if Vice-chairman Jin Dong-ki acquired the card company…

“Do-jun! Are you out of your mind? A three-year bond? The moment we sell the card company, our revenue stream dries up. We could face immediate financial pressure.”

Vice-chairman Jin Young-ki spoke hastily, but it was too late.

“Hyung-nim, stop talking nonsense. Every subsidiary Do-jun manages is practically a bank printing money. Financial pressure, my foot!”

Vice-chairman Jin Dong-ki glared at his older brother before turning to me, wanting a clear confirmation.

“Do-jun, evaluating the card company at 1.4 trillion won means you’ve excluded all the other subsidiaries’ shares, right?”

“That’s correct. Except for three or four related subsidiaries, I’ll transfer all the core subsidiaries’ shares. Including Soonyang Life Insurance and Soonyang Securities shares, it will be close to 3 trillion won.”

“Good. And you’ll receive the entire sale price in three-year bonds, right?”

“Yes, Uncle. We’re family, after all.”

I gave my second uncle a bright smile. He responded by pouring me a drink, as if returning the gesture.

“Alright. Let’s leave it at that for now. The details can be handled by the staff. And Hyung-nim.”

“What?”

“Let’s not raise our voices in front of our nephew. How about we discuss this privately after the meal? What do you say?”

Jin Dong-ki’s earnest gaze, a last vestige of pride not wanting to lose face in front of his nephew. Vice-chairman Jin Young-ki would find it hard to refuse this plea.

He nodded and picked up his spoon.

“Let’s eat first. And Do-jun.”

“Yes, Uncle.”

Vice-chairman Jin Young-ki spoke with a kind expression, as if nothing had happened.

“Is the company you carry on your shoulders heavy?”

“A little. But I’m fortunate it’s a field I know well. If it were manufacturing… Ugh, how would I manage? Factories, workers, unions…”

I shook my head emphatically.

“You can see it with CEO Oh Se-hyun. Ajin Group, Soonyang Automobile, Dae-ah Construction… he’s swamped trying to manage those companies. It only works because the presidents and executives care for their companies like their own. I wouldn’t be able to handle it. Would those executives even acknowledge a young kid like me?”

My uncles looked disappointed at not getting the answer they wanted, but they didn’t lose all hope. They confirmed that I strongly disliked dealing with people.

A young guy not yet accustomed to giving orders or commands.

They think I don’t know that feeling, so when the business situation worsens, my mental state will waver, and that’s when they can seize an opportunity.

“Alright. If you encounter any difficulties or hardships in the future, tell us anytime. We’ll actively help you.”

The cat pretends to care for the mouse. How hypocritical…

“Yes. Thank you.”

The bomb was put up for sale, and I even saw them fighting over who would buy it, so my work was done.

Now, all that’s left is to fuel the competition and extract over 1.4 trillion won… But if I raise the sale price too much, the first uncle will have the advantage.

We’re family, shouldn’t the competition be fair?

Should I just squeeze out a lot of interest?

Watching their invisible, tense psychological battle was quite entertaining. After the course meal and dessert, it was time to leave.

“Shall I take my leave first? The two of you will talk more, right?”

“Ah, yes. Go ahead. Thank you for your hard work.”

I bowed to both of them and left the hotel.

A little disappointing.

I wanted to show more of my obsession with winning rather than management or control, and emphasize my simple desire for making money, my dislike for complex things.

If I had done that, I could have diluted their wariness a bit more, but the thought lingered in my mind that I hadn’t done enough.

* * *

“What do you think?”

“About what?”

“Do-jun’s words today. Was he sincere?”

“Don’t overthink it. Whether that brat hid his true colors or that’s all he is, nothing changes. We have to take his companies, his shares, everything.”

Jin Young-ki revealed his true feelings while swallowing his drink. He knew his younger brother was no different from him anyway.

It was amusing. He hides his true intentions from everyone, but since his fiercest competitor is family, there’s nothing to hide.

Jin Dong-ki took a sip of his drink and began to stare directly at his brother. Then, he revealed his true feelings.

“Hyung-nim, do you really have to take Soonyang Card? They say it doesn’t even have group shares.”

“You only act like that when you want something, don’t you?”

“Hyung-nim!”

“Enough. What’s the point of pretending to be affectionate brothers looking out for each other now?”

“So? Are we going to put a company up for auction? You know that only benefits Do-jun if we fight, right?”

“And if we don’t fight? You’re okay with it benefiting you? If you don’t have the confidence to throw money around, give up now.”

“What’s the reason? I understand the card company is good for circulating cash, but you have enough with electronics alone. And you have many consumer goods companies, so you shouldn’t be short on cash. Why are you so greedy? Just to screw me over?”

“What? Screw you over? You bastard! I’m the one who got screwed over! I was already screwed over by Father, damn it.”

Clang!

Jin Young-ki smashed his glass on the floor.

“Ever since before I was old enough to understand, Father told me repeatedly, ‘Young-ki, you will be the captain of Soonyang. I’ll give you everything, so you have to build an even grander Soonyang.'”

Jin Young-ki gasped for breath, clenching his fist tightly.

“But… I’ve lived believing those words for decades… I’m almost sixty years old. And I haven’t even received half of what he promised. Do you know what that means? Everything you have, everything that young nephew of ours has, it’s all mine! The fact that I have to buy what’s rightfully mine is the damn problem! Do you still think I’m trying to screw you over?”

Jin Young-ki was furious, but Jin Dong-ki’s gaze became even calmer.

He even felt a bit sorry for him.

Is this what it means to be the eldest son? To receive the full weight of parental expectations and feel immense pressure, but in return, to mistakenly believe that everything the parents own is rightfully theirs?

“I understand your thoughts now, Hyung. Then I need to change my thinking too.”

“What do you mean change your thinking?”

“For a brief moment, I thought about each of us growing our own subsidiaries, expanding them, filling each other’s gaps, and even swapping them if needed… you know, friendly competition and all that. But I guess that won’t work. Let’s just have a shareholding battle. Until one of us falls and can never get up again.”

Jin Dong-ki tossed the napkin he used to wipe his mouth onto the table and stood up.

“I’m going to take Soonyang Card. You must have learned this from Father too, right? ‘Anyone can buy with money. The important thing is the will to possess it. Then you’ll realize money isn’t the important thing.’ I’ve heard those words until they were ingrained in my head. And it’s true.”

Jin Young-ki stared intently at the empty chair where Jin Dong-ki had been sitting, gritting his teeth.

“That damn bastard… Still acting all high and mighty.”

* * *

As I entered the Soonyang Group’s main building, Executive Director Jang Do-hyung rushed over.

“Please give us some notice next time. We were short on time to prepare… I’m not sure if you’ll be satisfied.”

“All I need is a desk, a chair, a computer, and a conference table.”

“Haha, that’s even harder. How picky do you think minimalists are?”

“I’m not a minimalist; I just need the essentials.”

Many people lined up and bowed as I walked from the main building entrance to the private elevator. I frowned at the sight.

“Executive Director, please don’t arrange this in the future. You know I don’t like it.”

“Yes, sir. This will only be today. At least the people who need to recognize the Chief of Staff should see you, even if you don’t greet them individually.”

We were the only ones in the private elevator. There were things to discuss privately.

“How did the instructions go?”

“The four CEOs are already waiting in your office, Chief of Staff. And the staff are waiting in front of their respective president’s offices. They’ll begin as soon as you enter.”

“Good. Let’s get this done quickly.”

“No problem.”

I entered my office on the 24th floor for the first time.

The four CEOs who were sitting on the reception sofas stood up awkwardly, barely concealing their discomfort.

Taking a quick look around the room, I could tell who was behind it.

A room filled with simple yet luxurious furniture.

It must have been my aunt who arranged it.

“Please, everyone, have a seat.”

As I sat in the head seat, Executive Director Jang Do-hyung stood by my side.

“President Lee Min-seop.”

“Yes.”

“The decision has been made to sell the card company. Effective today, you are dismissed.”

Just as President Lee Min-seop’s face contorted in shock, I added to preempt any objections.

“I informed Vice-chairmen Jin Young-ki and Jin Dong-ki, and they both expressed interest in acquiring it. Your reappointment rests with them.”

President Lee’s contorted face brightened considerably.

Is he an idiot?

There’s no way my uncles would reinstate him as president. How many people are lining up behind them? I simply cut him off at their behest.

“And Presidents Yang Woo-chan and Ko In-kyu.”

“Yes.”

“You are both dismissed as well.”

The two presidents froze as if struck by lightning.