Chapter 186: Bang!

Thwack!

“Hey, hold on! Where did that nonsense come from all of a sudden?”

Chairman Joo Kwang-shik slammed his glass down hard enough to risk shattering it, yelling as he did so.

“Soonyang Electronics shares, two percent? Do you even know how big the price difference is? No, forget the price, how am I supposed to scrape together two percent of their stock?”

“I’m aware that Soonyang Electronics closed yesterday at ₩227,000 per share, and Daewoo Motors at ₩21,000.”

“Knowing that, you spout such drivel? That’s a tenfold difference!”

This old man still has a long way to go.

The value of an object varies from person to person. The price that a majority of people accept and are willing to trade at is what we commonly call the ‘market price.’

However, if an item holds special meaning and value for an individual, it’s foolish to price it at the market rate.

There are people who would pay ten times the market price for a not-so-rare ceramic worth only five million won, simply because it’s a memento left by their ancestors.

A stock price is just the market price.

If I can take control of the Soonyang Group, I’d be willing to buy Soonyang Electronics shares at ten times, no, even a hundred times the trading price.

“Uncle, just let me ask you one thing.”

He calmed his ragged breathing without a word.

“Soonyang Electronics and Daewoo Motors, which company do you want more?”

“……”

The fact that he couldn’t answer meant he understood instantly.

For him, wanting to take over Daehyun Group, Daewoo Motors’ stock holds the same value as the Soonyang Electronics stock I need to seize Soonyang Group.

To the average person, there’s a twenty-fold difference, but we’re not the average person. For us, the core company’s stock is a stepping stone to the chairman’s seat.

“Nephew, the rumor that I’m acquiring Soonyang Card must have been a big help, right?”

Is he trying to take credit now that he has nothing else to say?

“You used it as a feint, Uncle. Our interests just aligned.”

“So, you’re saying we’re even. Fine. But twenty times is too much.”

“What about Chairman Joo Tae-shik, your hyung-nim? Would he say twenty times is too expensive?”

There’s no need to think about it. To solidify his management control, he wouldn’t even care about the price. And Joo Kwang-shik knows this better than anyone.

He bit his lip.

“To secure two percent of Soonyang Electronics’ shares, I’d have to sweep up all the stock flooding the market. You know the implications of that, right?”

Wow, he’s even stingier than I thought.

In situations like this, the right approach is to first agree to help no matter what. Then you figure out a way together.

But Chairman Joo Kwang-shik keeps spewing negativity.

Do I have no choice but to suggest a solution myself?

“Is there a need to rush?”

“Huh? What do you mean?”

“I’ll keep the two percent of Daewoo Motors shares safe and sound. You don’t need them right away, do you?”

His hardened expression softened as if he understood my meaning.

“You’ll hand them over when I need them?”

“To launch a counterattack, you’ll need a lot of preparation, and weapons are best kept hidden, wouldn’t you agree?”

“True. There’s no need to hurry.”

“Likewise, slowly gather Soonyang Electronics shares. We can trade when we both need them.”

“Our nephew is quite the businessman. Making a twenty-fold profit!”

“I have no intention of trading valuable weapons for money, so it’s not that profitable. Haha.”

We clinked our wine glasses lightly, celebrating the successful deal.

“But, our nephew, are you confident you can take over Soonyang Group?”

“It’s the goal, for now. Confidence? I don’t know. Right now, the chances are extremely low.”

“Should I call it bold? Is it okay to reveal your ambition so openly?”

“Others see it as greed rather than ambition, so it’s fine.”

“Are your eyes just for show? If your ability backs it up, greed becomes a goal….”

“You flatter me, Uncle. I’m not that good.”

“What about me?”

“Pardon?”

Why is he suddenly saying this?

“What do you think, nephew? Do you think I can become the owner of Daehyun?”

Out of the question. Sorry, but you’ll be pushed to the periphery.

You shouldn’t underestimate Joo Tae-shik, the eldest son. He’s the one who’ll grow Daewoo Motors into a global top-five company.

The common perception might be that he’s simple and boorish, but he has the advantage of pushing forward like a bulldozer. He’s the one who will drive tens of thousands of Daewoo Motors employees to the edge of a cliff and ultimately make it the fifth-largest automaker in the world by production volume.

With Daewoo Motors backing him, he will eventually reclaim all of the splintered Daehyun.

I have no intention of doing anything for Joo Kwang-shik, who is smiling brightly in front of me. I don’t want the future to change even a little bit.

“It’s difficult to answer.”

“Why? Does it seem hopeless?”

“Because I don’t know the specifics. What kind of people you and your brothers are, what the current shareholding structure is, how determined the others in the race are… I have no data.”

“Is it because you’ve invested based on accurate data since you were young? You’re so rational.”

Joo Kwang-shik finished the wine in his glass.

“One thing is clear, right? That you and I are in a mutually beneficial relationship. Or am I wrong?”

“Wouldn’t ‘amicable’ be a more accurate description than ‘mutually beneficial’?”

“Still so cold. You take after our grandfather a lot. Fine, the fact that you’re not an enemy is a big win. Haha.”

Seeing him laugh so cheerfully makes me feel a little sorry for him.

Though I don’t remember the exact timing, Chairman Joo Tae-shik will expose his embezzlement of hundreds of billions of won, leading to several years in prison.

And I don’t recall if he salvaged a subsidiary or ended up penniless.

Unfortunately, the peak of Chairman Joo Kwang-shik’s ambition and burning desire is short-lived.

* * *

“Give me a justification.”

“Justification?”

“Yes. It’s not like I’m planning to put it up for auction to drive up the price. And it’s not like it’s someone else…. I’m satisfied with a price that reflects the appropriate enterprise value.”

This should be welcome news, but Vice-chairman Jin Dong-gi’s expression remains unchanged.

He knows better than anyone that there’s no such thing as a free lunch.

“Why? Isn’t a higher bid better?”

“Are you confident you can win?”

“What?”

“Soonyang Electronics’ retained earnings are enormous. I guarantee you, Uncle will offer far more than the value of Soonyang Card. You absolutely can’t win.”

“Despite that, you’re determined to hand Soonyang Card over to me?”

“Yes.”

“May I ask why?”

“Because I’m scared.”

“Scared? Of what?”

Jin Dong-gi’s eyes changed at my unexpected answer.

“You always say that because he’s the eldest son, Soonyang Group belongs to him, right? If he takes the card company, that belief will solidify even further, and in the end, he’ll resort to any means to take all the companies I inherit.”

“You’re afraid of empowering Hyung-nim?”

“Yes.”

Vice-chairman Jin Dong-gi studied me intently before offering a faint smile.

“Even the general public knows that the two sons of the Soonyang family will have a major showdown over the group.”

“I could be wrong, but I see a difference. One seems intent on possessing Soonyang Group, while the other shows a desire to manage it. I’m just choosing the safer option.”

“Management, huh….”

“Isn’t that right?”

“You’re wrong. I want to have Soonyang Group in the palm of my hand too. I’m not much different from Hyung-nim.”

“You’re honest.”

“But there’s also a difference. At least I take the position of CEO of a major conglomerate very seriously. Even now, with only the heavy industries division on my shoulders, I’m afraid.”

Would my past have changed if this man had taken over Soonyang Group?

I almost laughed at myself for having such a thought.

It’s six of one, half a dozen of the other.

Let’s not forget. I shouldn’t harbor even a shred of goodwill towards these people.

They are merely targets to be expelled someday.

It’s foolish to become attached to the pigs you’re fattening up for slaughter.

“But that doesn’t mean you’re going to give up entirely, does it?”

“Of course not. I can’t do that.”

“Then we’ve reached a conclusion. If you give me a justification for handing over the card company, I’ll throw my support behind you. If the justification is weak, I’ll sell it at a very high price to a third party. Someone has already shown interest, you see.”

“Daehyun?”

“Yes.”

“If you hand it over to them, Grandfather might hate you.”

“It’ll only be for a short while. I know how to turn Grandfather’s heart around.”

“I knew it a long time ago. That you’re the most dangerous one.”

Vice-chairman Jin Dong-gi said with a defeated laugh.

“There’s no justification. The best justification is to hand over the subsidiary to the eldest son of this family. Let’s do it with money instead.”

“Money won’t work.”

“No, it will.”

“How so?”

I’m genuinely curious. Isn’t it because the heavy industries division he’s in charge of has weak liquidity that he wants the card company? Soonyang Electronics has far superior cash mobilization capabilities. He can’t possibly win.

“You said the fair price is ₩1.4 trillion, right?”

“Yes.”

“For a three-year bond?”

“You don’t need to double-check. I always keep my word.”

“I’ll add another ₩100 billion to that. And that won’t be an IOU, I’ll give it to you in cash on the day of the acquisition signing. How about that?”

Is this guy slow-witted? Or am I the one who’s slow to grasp his true intentions?

If the younger brother offered ₩100 billion in cash, the older brother is the type to bet ₩200 billion right away. Vice-chairman Jin Young-gi will never be pushed back by money.

“Please be specific. What is this ₩100 billion for?”

“Oh, you’re indeed our Do-jun. You noticed it’s not just any ordinary ₩100 billion? Haha.”

The uncle burst into hearty laughter before explaining.

“Money with no strings attached, no traceable source. Money that won’t cause any trouble no matter where you use it.”

Slush funds.

Doesn’t ‘won’t cause trouble’ mean it’s perfectly laundered money?

Even if used as a bribe, it’s untraceable, so you can just deny everything.

“Hyung-nim never uses his personal assets. Even if he spends ₩2 trillion to acquire Soonyang Card, it’ll be company money. You also can’t freely spend whatever comes into your pocket. The National Tax Service… they’re scary.”

“There’s such a difference.”

“Huh?”

“Between you two uncles, I mean. To gather ₩100 billion, you must have circulated and circulated trillions of won in company funds, going through great pains to secure it…. And you’re just offering it up like this.”

“I’m relatively less greedy.”

It’s not a matter of greed, but who’s more desperate.

The fact that he has to dip into his secret stash means he’s desperate…. I need to double-check the management situation of the heavy industries division that Vice-chairman Jin Dong-gi is in charge of.

“Anyway… there will come a time when you too will need untraceable money. At that time, your money buried in Miracle will be useless. It has to be perfectly laundered money.”

I have more than enough of that kind of money.

The money I’ve stashed in Miracle in the US can be invested in numerous paper companies in the Dutch countryside and written off as losses, then deposited somewhere in Switzerland, and voila, slush funds are ready.

But it was a hard offer to ignore.

If a credit card crisis dries up the cash, he’ll be kicking himself for not having that ₩100 billion in slush funds he gave me.

“Uncle, could you give me some time to think about it? Just three or four days.”

“Of course. It would be wise to verify the value of ₩100 billion in slush funds with Oh Se-hyun as well. That guy would welcome it with open arms.”

Vice-chairman Jin Dong-gi left with confident words.

Watching his retreating figure, I couldn’t help but smile, despite a pang of guilt.

Is this what they mean by killing three birds with one stone?

I can detonate a bomb and also seize his secret stash. Lastly, if I trace the ₩100 billion in slush funds he’ll hand over, I’ll get my hands on his corruption ledgers, making it a definite three birds with one stone.

It’s a shame I can’t screw over Vice-chairman Jin Young-gi at the same time.