Chapter 260: Joint Front

Vice-chairman Jin Dong-gi’s gaze hardened as he watched my subtle smile.

“I underestimated our eldest uncle’s greed. Turns out, there are more reliable avenues than the media or the prosecution.”

“So, you’re running out of cards to play, are you? Enough with the pointless chatter. What do you want?”

“You two joined forces to get rid of me, but the hand you’re holding is weak, and your other hand is clutching a knife, isn’t it? I want to make that knife useless. Because that blade could turn on me again at any moment, in any way.”

“Too much rambling. Get to the point.”

“For the foreseeable future… no, for quite some time, how about we work together to block our eldest uncle’s knife?”

“You want me to take your hand?”

“Yes.”

Vice-chairman Jin Dong-gi’s expression shifted. He clearly thought it was an absurd proposal.

“What good would it do me to join hands with the likes of you? That just means I’d be propping you up.”

“Uncle’s shares are at 26%, mine are at 10%. Together, that’s 36%, the same as our eldest uncle’s stake. It means the group’s perception of both of you will be the same.”

His expression changed again, this time leaning towards a favorable consideration.

“That’s not a bad idea. Since you wouldn’t transfer your shares, you’re suggesting I get your voting rights? If that’s the case, I’ll protect you. You’ll never be ousted from the group.”

“You were trying to kick me out just a few days ago. If I believed that promise now, I’d be a fool. You misunderstand.”

“Then?”

“Joint voting rights for the 36%.”

“What?”

His face flushed crimson.

“Joint voting rights? Are you serious right now? Even with matching shares, that’s outrageous. You’re holding less than half that! Are you even thinking straight?”

“Under normal circumstances, I’d agree it’s a ridiculous demand. But the current situation is different, isn’t it? Besides, aren’t our family’s shares primarily for defense against hostile takeovers? I won’t interfere with your management, nor do I intend to. My only goal is to prevent you two from joining forces again to try and remove me.”

“Enough.”

“Calm down and think rationally. You wouldn’t be losing your 26%, but gaining the power of my 10%. Naturally, I’d also gain the defensive power of your 26%. It’s not a loss for you just because I benefit more. Let’s call it a win-win.”

Vice-chairman Jin Dong-gi now had to overcome his baser instincts.

Just because someone else gains more doesn’t mean your own gains disappear. But those who’ve only learned to crush those ahead of them, rather than learning to run together, see helping those behind as a loss.

This wouldn’t work on Vice-chairman Jin Young-gi, but Vice-chairman Jin Dong-gi, who prioritized rational judgment, might overcome his more petty nature.

He also knew he wasn’t in a position to be arrogant.

“Consider Miracle’s shares as well. Even after diluting their stake through taking on water, they still hold over 20%. That 20% could side with me at any time. That would easily put us over the majority of the total shares. No matter what means our eldest uncle resorts to, he can never take control of the group.”

Vice-chairman Jin Dong-gi’s gaze changed.

He realized that he was currently the weakest player. While external shareholders could be considered neutral, Miracle was different.

“As long as Representative Oh Se-hyun, my father, and I are here, Miracle is a solid ally. Consider that my 10% carries that weight as well.”

Threatening him with his slush fund might be quicker than this lengthy explanation, but coercion only yields short-lived promises.

Right now, his uncle’s shares also needed to become a long-term friendly stake.

After a long pause, Vice-chairman Jin Dong-gi finally spoke.

“If our three stakes combined are a majority, then use Miracle’s shares to put me in the chairman’s seat. I’ll make you the sole vice-chairman. Then you won’t have to live in fear, will you?”

It was a tempting offer, but with differing goals, it was just empty words.

“Representative Oh knows what you’d do first if you became chairman. You’d dilute Miracle’s shares through massive restructuring of the subsidiaries. And mine too, for that matter. Both Representative Oh and I are well aware of that.”

It was clear he had thrown that out there knowing the answer. He didn’t push or demand further.

“You could tie my hands with these joint voting rights. If you forfeit your voting rights, I have to as well.”

“I’d be tied down too. If that happens, I’ll transfer my shares to my parents. That would nullify the joint voting rights. You could do the same. You’ll be handing them down to your son anyway, won’t you?”

His consideration of the worst-case scenario was proof that he was more than halfway there. It was time to cast the final bait.

“The hundred billion won in the Labuan slush fund, I’ll withdraw it. That eliminates the possibility of using it to blackmail you. I’ll be implicated too, after all.”

“You’re going to get yourself dirty too?”

“Wouldn’t that make the term ‘joint’ more fitting?”

“If I refuse your proposal, will you hand over the slush fund information to my brother?”

“I’m not that underhanded. I’ve already told you, if you just let the board meeting fail, I won’t hand over the information. But with a powerful weapon with a three-year statute of limitations in my hands, you’ll always be anxious.”

Vice-chairman Jin Dong-gi pressed the intercom button.

“Get the entire legal team in here.”

His uncle, with a noticeably softer expression, said,

“We’ll review it and get back to you today. Ah, and the review will be favorable. Now, get out.”

I knew the summons for the legal team was to instruct them to draft a joint voting rights agreement that eliminated any potential threats.

“Then I’ll await your call. Please forgive my disrespectful words earlier. I’m just trying to survive.”

“I don’t think of you as a nephew anymore. To me, you’re not a nephew, but a contender for Soonyang’s control. So, there’s no need to try so hard to be polite.”

As I bowed and was about to quietly leave, he brought up something unexpected.

“If you had teamed up with your uncle, you could have ousted me. You would have gotten a few subsidiaries in return. Why did you refuse?”

“My goal is to protect what grandfather gave me. I have no desire for a few extra subsidiaries. And I’ve never particularly liked our eldest uncle.”

“You’re aiming to swallow it whole, so scraps aren’t enough, are they? Fine.”

My uncle waved his hand dismissively and turned away.

* * *

Jin Dong-gi took a deep breath and opened the door to Vice-chairman Jin Young-gi’s office.

“Is the vice-chairman in?”

The female employee at the front desk jumped up, startled.

“Ah, yes, Vice-chairman. He’s preparing for the board meeting…”

“Is anyone else in there?”

Jin Dong-gi didn’t wait for the employee to finish her sentence before entering.

“Huh? What’s going on? We’ll see each other at the board meeting soon anyway, won’t we?”

Jin Young-gi began to feel uneasy. His younger brother’s expression was anything but normal.

“The agenda for the board meeting will change, so neither you nor I need to go.”

“What are you suddenly talking about?”

“The personnel changes for the executives remain on the agenda, but Do-jun will make the decisions. It’s exactly what Father wanted.”

“Hey!”

“That’s how it is. If you hadn’t been plotting to stab me in the back, we would have purged the executives as we agreed. But I can’t align myself with someone who’s always trying to get rid of me.”

Jin Young-gi began to understand how things had unfolded.

“Do-jun did this? You think I was trying to stab you in the back?”

“Don’t play innocent. Oh, I’m not resentful or angry. If I were you, I wouldn’t have missed this opportunity either. It’s natural. I was foolish to show my weaknesses.”

Jin Young-gi threw the board meeting documents in his hand onto the desk.

“You old fool! Does that mean you’re going to waste the chance to get rid of Do-jun? Are you out of your mind? How will you face our mother?”

“Neither of us are particularly filial sons who dote on our mother. Anyway, stay away from the financial group.”

Jin Young-gi shouted at his younger brother.

“You idiot! It’s not too late! Change your mind right now. I can even give you Soonyang Life Insurance.”

“Enough. Do-jun’s shares, my shares, and Miracle’s shares combined give us over half of the group’s controlling stake. It’s not a pipe dream to think I could oust you and take the chairman’s seat. Stop provoking Do-jun.”

Jin Young-gi, who had been yelling moments before, turned pale.

The thought of being pushed out of the group hadn’t even crossed his mind for a single second.

There were many external shareholders in the group. Public corporations, banks, foreign capital, and so on.

But they didn’t interfere in the group’s internal affairs. They simply saw it as a safe investment or aimed for profits from stock trading. Or they held the shares as collateral.

Miracle’s shares had been lost due to his late father’s rash decision, and he had always considered them friendly shares.

He never imagined that Miracle would become the real power behind his younger brother and nephew.

Jin Dong-gi chuckled at his older brother’s expression and left the office.

Left alone, Jin Young-gi stood there blankly for a long time before Chief of Staff Baek Jun-hyuk knocked on the door.

“Vice-chairman, the board meeting is about to begin. Is there anything special I need to prepare?”

He spoke very cautiously, sensing his vice-chairman’s unusual demeanor, but the response was a slap.

Smack—!

He tried to rub his stinging cheek, but didn’t dare to break his rigid posture.

Because Vice-chairman Jin Young-gi’s hand came flying at him again and again.

“You useless bastard! What good are you?!”

* * *

“Is everyone here?”

“Yes. They’ll be shocked when you walk in, Chief of Staff.”

Vice President Jang Do-hyung looked radiant, clearly enjoying his moment of victory.

“I apologize for saying this as someone who could only watch and do nothing, but you’ve truly worked hard.”

I said to him, who was bowing his head.

“Don’t let me hear the word ‘sorry’ again. Do you understand what I mean?”

He surely understood that another such incident would mean leaving Soonyang.

“That won’t happen, Chief of Staff.”

“Let’s go. The old geezers are waiting.”

We walked towards the main conference room.

The expressions on the old men’s faces shifted dramatically as we entered the conference room.

How many years had they been playing the game, reading the room? They could tell the situation had changed.

I strode to the empty seat at the head of the table and settled into it.

The face of the person sitting next to me was already as white as a sheet.

“President Yang Woo-chan, it’s been a while.”

As I gave President Yang a slight smile, he closed his eyes.

I turned to Vice President Jang Do-hyung, sitting beside me.

“Vice President Jang Do-hyung, hold every security guard who allowed outsiders onto the executive floor accountable. Since when has Soonyang Group become a bustling rural market where just anyone can wander in and out?”

“I apologize, Chief of Staff. I will take immediate action.”

I spoke to President Yang again.

“What are you doing? Wouldn’t it be embarrassing to be dragged out by security? You still seem to have enough strength to walk, don’t you?”

President Yang Woo-chan dragged his trembling legs out of the conference room. And I could feel the legs of everyone else remaining trembling as well.