Chapter 251: The New Chairman of HW Group

Jo Dae-ho, the president of HW Automobile, chuckled, patting the stiff shoulder of Chief of Staff Lee Hak-jae.

“Why so tense? It’s not like this is your first press conference.”

“It’s the first time it’s about me, though. This time, I’m the one in the hot seat, aren’t I?”

“But it’s good news! Becoming the chairman. Isn’t that a bit more productive? Up until now, your press conferences were all about apologies or excuses… Ah, or just flat-out denials, wasn’t it? ‘No hidden accounts, political slush funds have nothing to do with us, it was an individual action by the company, and Chairman Jin knew nothing about it.’ Heh heh.”

“Why are you doing this too, President? I’m already on edge worrying about those kinds of weird questions….”

Lee Hak-jae grumbled at President Jo Dae-ho before lowering his voice.

“But President,”

“Yeah? What is it?”

“Are you… alright with this?”

“With what?”

“Me becoming the group chairman. I’m still far below you, yet I’m stepping into your position….”

President Jo Dae-ho raised his hand, cutting Lee Hak-jae off.

“Far below? What are you talking about! Back in the Soonyang days, were you ever my subordinate? You acted like a fearsome mother-in-law!”

“President, what are you talking about….”

“Wasn’t it you who used Chairman Jin’s backing to keep the subsidiary presidents in line? They say the steward is scarier than the landowner, and you were exactly that type. Even though I was close enough with the Chairman to call him ‘hyung-nim,’ I still had to watch my step around you.”

Lee Hak-jae didn’t know what to do, and President Jo Dae-ho burst into laughter again.

“It’s all in the past, let’s shake it off. And this is just my personal feeling. Officially, I have a high opinion of you. You were too good to be stuck just handling Soonyang Group’s dirty work. This is a great opportunity for you to show your true colors. Everything’s worked out for the best.”

President Jo’s kind words brightened Chief of Staff Lee Hak-jae’s expression.

“But aren’t you… disappointed?”

“With what? I never had any interest in the chairman’s seat in the first place.”

“No, not that. I mean, with Soonyang Group.”

“What do you mean?”

“Actually, Chairman Jin gave up the automobile division surprisingly easily. So, I thought it was just temporary, that he’d bring it back to Soonyang soon. I’m sure you thought so too, President.”

“Ah, that?”

“Now that the Chairman has passed away, our connection with Soonyang Group is over. Aren’t you disappointed?”

“Not at all.”

The immediate answer clearly showed his sincerity.

“At first, I was constantly worried about when we’d go back. And I was incredibly careful about figuring out who the real owner of Soonyang Automobile was. Whether it was Chairman Jin, Miracle, or if the Chairman had someone in mind to pass it on to….”

“So, who was it?”

Lee Hak-jae looked curious, but President Jo Dae-ho only chuckled.

“It doesn’t matter who the owner is anymore. Now that the Chairman is gone, it’s either Miracle or Do-jun. But whoever it is, they’re just the shareholder. If the business performance isn’t good, I’ll have to step down, but that’ll be my fault.”

Lee Hak-jae could read President Jo’s thoughts.

“How many Soonyang Group presidents were forced out because of poor performance? It was always because they got caught with slush funds, clashed with the second generation, or went against the Chairman’s orders. That’s why it’s so relaxing here, you only need to focus on the work.”

“The environment might change once I become chairman.”

President Jo Dae-ho shook his head.

“You’ll be the one changing. HW Group’s structure isn’t so weak that it’ll change because of one person.”

Lee Hak-jae saw the confidence in President Jo Dae-ho’s eyes.

“It’s time to start. Let’s go.”

The secretary opened the waiting room door and announced that it was time for the press conference.

“Alright. Relax and be natural.”

The two men left the waiting room and headed to the conference hall.

The flash of cameras and the clicking of shutters filled the conference hall as they entered.

“What’s this? Why are there so many reporters?”

Lee Hak-jae muttered to himself, and President Jo Dae-ho chuckled, whispering in his ear.

“We need to make a big splash today, tomorrow too. The news of the HW Group chairman’s inauguration needs to overshadow the President’s impeachment.”

The two sat down at the table and began the press conference.

After the standard announcements, President Jo Dae-ho said,

“…Now, we’ll take questions from the reporters.”

Predictable questions poured out, followed by easy-to-answer responses.

“You’ve been Soonyang’s second-in-command; isn’t there an issue of corporate ethics in moving to another company as its CEO? Aren’t you someone who knows many of Soonyang Group’s secrets?”

A reporter who hadn’t gotten the memo asked a sensitive question.

As President Jo reached for the microphone in embarrassment, Lee Hak-jae spoke first.

“Corporate ethics isn’t something you apply in this situation. Taking a company’s competitive edge, like technology or know-how, is what deserves criticism. But I served as Chairman of the Secretariat for the Soonyang Group Chairman.”

Lee Hak-jae scratched his head slightly.

“Frankly, I wouldn’t understand Soonyang Group’s technology even if I stared at it. What I’m bringing to HW Group is my experience. A chairman is just a salaried employee of the company, hired as an experienced professional based on their skills. Nothing more, nothing less. And experience isn’t a company secret.”

President Jo Dae-ho subtly interjected.

“No matter how high Chairman Lee Hak-jae’s salary is, he doesn’t own a single share of HW Group, so he’s definitely a salaried worker. Haha.”

* * *

“What the hell is going on here?”

“What do you think! Can’t you see the report? He’s abandoning ship!”

Jin Dong-gi irritably turned off the TV, and Jin Young-gi bit his lip.

“You bastard! Why are you shouting? And… didn’t you say Lee Hak-jae was practically surrendering? You said things were settled!”

Jin Young-gi, the vice-chairman, yelled, and Jin Dong-gi clammed up, like a mute who had swallowed honey.

Jin Young-gi, looking displeased with his younger brother, picked up the receiver.

“Get me President Jo Dae-ho.”

Jin Dong-gi was startled by his older brother’s sudden action.

“What are you doing? Why President Jo?”

“Shut your mouth.”

Jin Dong-gi saw his brother’s glaring eyes and turned away. He knew better than to bother him when he had that look. If he interfered before his brother cooled down, he’d only get burned.

“Ah, President Jo. It’s been a while.”

He greeted the man, but there was no response. Jin Young-gi checked the phone and spoke again.

“Hello? President Jo?”

—I’m listening. Go ahead.

Jin Young-gi’s face flushed red instantly. How dare he speak so casually?

But if he lost his temper now, he wouldn’t gain anything. Jin Young-gi had that much self-control.

“I just watched the press conference. What exactly is going on?”

—You saw it, didn’t you? It’s exactly as the press conference stated. Our HW Group scouted Lee Hak-jae. Isn’t it normal for office workers to change companies?

“President Jo! Is this something you can compare to an office worker changing jobs? Isn’t this defection?”

—What? Defection? Haha. This is… does Soonyang Group think it’s a country or something? Your delusions are going too far.

“President Jo!”

—Don’t shout. I’m not deaf. And where did you learn to call someone up out of the blue and act like you have the right to interfere in another company’s affairs?

“What?”

Jin Young-gi’s hand holding the receiver trembled.

—Listen, Jin Young-gi. Did you know that the late Chairman and I used to call each other ‘hyung’ as friends in private? Now that my ties with Soonyang are gone, I won’t stand for being called names by you, even if I don’t deserve to be called ‘uncle.’ I’m hanging up now.

Jin Young-gi slammed the disconnected receiver down.

“What is it? What happened?”

Jin Dong-gi asked his fuming brother, but he only yelled.

“Pressure the Ministry of Justice and the prosecution! Put pressure on them to immediately arrest and investigate that bastard Lee Hak-jae!”

Jin Young-gi wasn’t satisfied with just yelling into the phone; he started throwing everything within reach.

* * *

“So, you’re saying this is a battle for shares?”

“Yes, that’s right. Otherwise, why would they be persecuting Chairman Lee Hak-jae, who was Chairman Jin’s closest confidant, so harshly? Minister.”

Representative Oh Se-hyun spoke politely to the Minister of Justice, who held a teacup.

“I see.”

The Minister of Justice, with an awkward expression, put down his teacup.

“It seems my people misunderstood. Chief of Staff Lee… no, Chairman Lee now. Anyway, we thought Chairman Lee was trying to take advantage of Soonyang Group’s weaknesses and extort the owner family.”

“That’s impossible. Chairman Lee Hak-jae was like a son to the late Chairman Jin Yang-cheol. That’s why he decided to retire as soon as the Chairman passed away.”

“But Representative Oh, what exactly is the share structure that’s making Vice-chairmen Jin Young-gi and Jin Dong-gi act like this?”

“You might recall, but during the IMF crisis, our Miracle provided financial support to Soonyang Group in dollars.”

“Yes, I vaguely remember hearing about it. If it weren’t for Miracle’s dollars back then, Ajin Group and Dae-ah Construction would have gone under. Soonyang Group would have lost several subsidiaries too.”

“It was more than that. They were on the brink. It’s no exaggeration to say we kept them afloat. That’s why Chairman Jin made the bold decision to hand over some of the group’s shares.”

“Ah… Miracle owns shares in Soonyang?”

“Yes. That’s why the two vice-chairmen are trying to drastically change the share structure now. They’re planning to make Miracle’s shares worthless.”

“I see. The picture is becoming clear now.”

Oh Se-hyun spoke as he watched the Minister nod.

“Minister, wouldn’t it cause a stir if it became known that government agencies were involved in a group’s internal affairs?”

“Of course. I’ll take care of it before it escalates. We in the Ministry of Justice could have been wrongly accused, but thanks to you, Representative Oh, we’ve been saved. Heh heh.”

The Minister chuckled.

“May I ask why you recruited Chief of Staff Lee as the group chairman? It’s such a big issue, I’m just curious.”

“He’s the person who was with Soonyang during its later years. During that time, Soonyang made remarkable progress. HW Group aims to emulate that part of Soonyang’s history.”

“Miracle has enormous financial resources, so you’ll be making huge investments, I presume.”

“Yes. We plan to put our full effort into growing HW. We would appreciate it if you would take an interest and keep an eye on us, Minister.”

“Oh, well, isn’t my life like a fleeting mayfly? I brace myself every day, ready to leave this position if the political winds change.”

The Minister, pretending to be worried, had a glint in his eyes. Oh Se-hyun couldn’t possibly miss the meaning of that gaze.

“For you, Minister, this position is just a temporary port, isn’t it? You’re destined for a larger harbor. Please feel free to contact me anytime. I’d like to help in any small way I can.”

“Just hearing those words gives me strength. Heh heh.”

“As you know, Chairman Lee Hak-jae is a man of integrity. He’s not one to forget a kindness.”

As Oh Se-hyun played his cards, the Minister’s face was wreathed in smiles.

* * *

“Congratulations, Chairman.”

“Don’t be scared, sit down. I’m not going to eat you.”

The Director of the Ministry of Justice’s Audit Bureau cautiously perched on the sofa, looking around HW Group’s chairman’s office.

Among the orchids filling the spacious office, the two placed at the very front made him uneasy.

They were orchids sent by the Minister of Justice and the Prosecutor General.

“You didn’t need to come in person just for congratulations. Did you perhaps come to deliver another memo?”

The Director of the Audit Bureau, understanding the meaning of the word ‘memo,’ turned pale.

“I was rude before. Please forgive me.”

“I told you, I’m not going to eat you.”

“Thank you, Chairman.”

“Thanks for what? You’re a prosecutor, so you understand. When a murder occurs, you arrest the person who wielded the knife, not the knife itself. There’s no reason for me to get into a scuffle with the knife.”

They called prosecutors ‘cutthroats,’ but to powerful figures like them, they were just knives. The Director of the Audit Bureau, caught between powerful figures who used prosecutors as tools, was in a desperate situation.