Chapter 304: Purging the Old Guard, Securing the Future

“Hearing you say ‘people,’ I gather there are quite a few unfortunate souls included,” said I.

Chairman Lee’s face flushed slightly, showing he was caught off guard.

“It’s easier to bring this up with someone as perceptive as you. Some are Jin Dong-gi’s people, and some are Chairman Jin’s. But they’ve been around a while, and this isn’t about rewarding their service. Looking at their capabilities, there are some we can’t afford to lose.”

“They’re all executives or higher, right?”

“Mostly. Those at the department head level probably joined in to support their executive bosses.”

I hoped Chairman Lee wasn’t acting out of personal feelings.

“Wouldn’t the company collapse if we cleared out every single one of them?”

Chairman Lee, understanding my intention immediately, let out a short sigh.

“If a company can’t function just because we get rid of some executives, can you even call it a major corporation? It’s just a company then. Alright, I get it.”

“If you owe any of them favors, start by getting rid of them. That way, those who get the axe won’t complain as much.”

“You’re ruthless. Heh.”

“It’s not over yet. If those executives who are let go this time end up at our competitors, I plan to threaten lawsuits for embezzlement and breach of trust, blocking their chances of getting hired.”

“Is that really necessary?”

Chairman Lee’s expression wasn’t good. I knew it was hard for him to sever ties with people he’d worked with for so long at Soonyang.

Construction is full of holes. The one who made the first hole is the owner, and the managers discreetly made their own little holes.

Construction companies, acting as slush fund channels for big corporations, are great for padding pockets, but they’re always a ticking time bomb.

When the prosecution decides to investigate a chaebol, the first place they poke around is the construction company.

I don’t need to create slush funds. So, it’s better to cut off any Achilles’ heel someone could use against me from the start.

Now is the perfect time.

The owner has changed. The employees are half expecting, half worrying about the new direction.

We just need to meet their expectations and ease their worries.

They might have new concerns after resigning and leaving the company, but that’s not my problem. And I’m too busy to worry about others.

“If you cut away the old, new growth will come. And that new growth will be called promotions, so those who survive will celebrate.”

“More like a warning to those who survive and rise. It’s saying they shouldn’t mess around under the HW name. Don’t you think?”

“You deserve smooth sailing from now on, Chairman. There’s no need to pave your way by planting landmines, is there?”

Chairman Lee shook his head.

“Alright, I’ll orchestrate a purge.”

“Why would you do such unpleasant work, Chairman? Have the newly promoted president dance for joy when he’s feeling good.”

“Of course. Am I crazy to get my hands dirty?”

Chairman Lee pressed the intercom.

“Get the presidents here. No, not HW… Soonyang.”

* * *

“Are, are you sure?”

“These are the words from the Blue House Economic Chief of Staff. I think this is why Vice-chairman Jin Dong-gi gave up completely. He’s just accepting the 10 trillion won lost in Dubai like it’s nothing, so there’s probably nothing he could do.”

Chief of Staff Baek Jun-hyuk, who was giving the report, and Vice-chairman Jin Young-gi, who was receiving it, both had trembling voices. Jin Young-jun, who was sitting with them, couldn’t say anything, his mouth agape in disbelief.

“How could that happen…? Are you sure you got it right? Maybe the funds from Korea Miracle belong to him… That would make sense. How much capital does US Miracle have for it to be his money?”

“Since they aren’t publicly listed, it’s difficult to get an exact figure. We’re just estimating based on rumors from Wall Street that he made close to 50 trillion won during the US subprime mortgage crisis.”

“Th-that crazy bastard. What is he doing with all that money?”

The first word out of Jin Young-jun’s mouth, now that he had come to his senses, was ‘money.’ Vice-chairman Jin Young-gi’s face contorted.

“So? Are you envious? That he has mountains of money to throw around?”

“N-no, Father. That’s not what I meant….”

“You idiot. No matter how much money he has, it’s just numbers. You need an opportunity to turn that money into bullets! If it weren’t for the subprime mortgage crisis and the Dubai situation, Construction and Heavy Industries wouldn’t have collapsed, and Dong-gi would still be in his vice-chairman position.”

He yelled at his son but didn’t feel any better.

What if Chief Baek’s words were true?

Soonyang Department Store, the hotel, and the resort all belonged to that Do-jun bastard.

He had taken over the construction and heavy industries divisions, and the financial divisions had long been secured.

If it weren’t for the enormous sales and operating profits of Electronics and Logistics, over 70% would be in his hands.

Fortunately, Soonyang’s mainstays, Electronics and Logistics, were still under his control, leaving him with at least 40%.

Of course, he had suspected that Jin Do-jun had close ties with Miracle. He was sure that Jin Do-jun owned about 20 or 30% of Korea Miracle’s shares.

But what if Chief Baek’s report was true?

Suddenly, goosebumps rose on his skin.

Vice-chairman Jin Young-gi knew that Jin Do-jun was a dangerous man, and he had felt fear before. But the emotion rising from the depths now was pure terror.

The Korean economy is inevitably part of the global economy. In this organically connected global economy, if a nation whose exact location is hard to pinpoint collapses, the aftereffects could hit Korea in unpredictable ways.

The butterfly effect is no longer just about the climate. The same goes for the economy. But with tens of trillions of won, it’s not just a butterfly flapping its wings; it’s like creating a powerful gale, a massive number that can create opportunities where there were none.

Now is not the time to scheme about how to take away the subsidiaries Jin Do-jun owns, but to worry about how to protect the subsidiaries he still has.

“Chief Baek.”

“Yes.”

“Look into it more. We can’t blindly believe what people say. Check the source of where the Economic Chief of Staff heard this.”

“Yes, Vice-chairman.”

Vice-chairman Jin Young-gi hesitated for a moment before speaking to his son.

“Young-jun, go visit Do-jun and ask him how married life is.”

“Yes? Ah… understood.”

Jin Young-jun understood his father’s intentions.

“Don’t be too obvious. Make it natural.”

At forty years old, he was still being treated like a child. Jin Young-jun stood up with a loud huff.

“I’ll check without pushing too hard. You know how it is with reading between the lines, right?”

* * *

“Our newlywed is looking better than I expected? You should be gaunt with dark circles under your eyes; isn’t that what married life is like? Haha.”

Jin Young-jun appeared with a greasy smile.

Rumor had it that he would take over the title of Vice President of Soonyang Electronics next year and lead the group in place of Vice-chairman Jin Young-gi.

The day of his eldest uncle’s seventieth birthday was only a few years away.

Once he turned seventy, he would step down as a symbolic chairman emeritus, and his son, Jin Young-jun, would wear the badge of chairman or vice-chairman, even if it was just in name.

This guy’s joy in life is showing up at Federation of Korean Industries meetings and talking loudly, so he’ll probably take over Electronics next year just for the sake of the title.

“You’d have time for that if you were just managing the household like my sister-in-law. Min-young is a judge. She doesn’t have time to laze around in bed.”

“Hey, hey. Tell that judge to quit. How much does a civil servant make to put her through all that hardship? She could just take off her robes and become a lawyer. A lawyer on Soonyang’s legal team earns a lifetime of a civil servant’s salary in a year.”

This guy never listens to others, so it’s pointless to try and irritate him.

“That judge could end up presiding over a trial involving our family. You know how it is, Hyung-nim. Our family members appearing in court to apologize for causing social issues is an annual event.”

The smile vanished from his face.

He finally understood that my wife was a powerful weapon.

“That’s the best news I’ve heard all day. I’ll have to ask my sister-in-law for a favor sometime.”

“You’ll have to. I’m sure that day will come.”

The initial sparring ended there.

“By the way, you’re taking over Electronics next year, right?”

“Of course. Smartphones are the main focus now. How can those old folks who don’t even know how to use smartphones lead the way? I’m planning to take over Electronics next year and shake up the executives. Replace them all with people in their 40s and 50s. Those over sixty should be at home watching their grandkids.”

“The world changes so fast, those who can’t keep up should step aside.”

He showed a pleasant smile as I nodded in agreement.

“Then you’ll restart the succession process? You’ll need some shares to save face if you’re going to take over Electronics, control personnel appointments, and throw your weight around.”

“If you don’t get in the way.”

Jin Young-jun glared at me.

“What are you talking about? Did I get in the way? The law did. Even the president can’t stop the succession process if you pay the gift tax.”

“Hey! It’s easy for you to say because you have so much money, you can pay all the taxes. If we paid the gift tax properly, the owner of Soonyang Electronics would be the state. Considering the current stock price, how can we pay that massive tax?”

Because I have so much money?

Why would he say that?

Sure enough, he revealed the reason for his visit.

“By the way, there’s a strange rumor going around.”

“Rumor?”

“Yeah. The rumor that our youngest is the owner of Miracle Investment. Haven’t you heard?”

“Oh, I’ve heard it. Ever since HW acquired our second uncle’s company, that rumor has been floating around. You know how those rumors start in the Yeouido tip sheets, Hyung-nim.”

His eyes began to gleam. He wanted to hear the truth of the rumor from my lips.

“So? Is that rumor… true?”

I simply responded with a slight smile.

“Only fools bother confirming every rumor in the tip sheets. Does it matter whether that rumor is true or not? I’m only thinking about how to use that rumor. It’s not a bad thing to be rumored to have a lot of money.”

Jin Young-jun revealed his frustration at my ambiguous answer.

“Judging by you dodging the question, it must be true. Wow, that’s incredible! Miracle deals in trillions of won as a matter of course. And that enormous amount of money belongs to our Do-jun….”

“Think whatever you want. If I were you, instead of being curious about that, I’d worry about whether Miracle will use its money to interfere with the succession process. And I’d be planning how to stop that interference.”

This impatient guy’s true nature was showing on his face. His expression hardened, and his voice started to rise.

“Are you… teaching me something now?”

“It’s advice. Or you can think of it as a suggestion.”

“What? Just because I’m being nice to you, you think you can get cocky?”

I shrugged.

“If it bothers you, just ignore it. If you only want to hear pleasant things, I’ll shut my mouth.”

“If I ignore it, one thing sticks out. Why would Miracle interfere with my succession? Because you’re the owner?”

“Miracle has been nibbling away at Soonyang Group’s subsidiaries. Miracle’s target is Soonyang Group, so what does it matter who the owner is? Buddha said when an arrow comes flying, the first thing to do is to take cover. If you’re busy wondering who shot the arrow and why, you’ll get hit and die.”

One spoke with a smile, and the other with a snarl.

This kind of conversation couldn’t last long.

Jin Young-jun jumped to his feet.

“Listen carefully, you bastard! You don’t know what kind of person I am. If you think I’m as easygoing as my uncle, you’re mistaken. I’ll do anything to protect what’s mine and take what’s yours. I won’t just sit around politely like my uncle.”

He warned me once more as he left my room.

“Don’t mess with me. You’ll see me turn into a demon.”

I called out to him as he grabbed the doorknob.

“Jin Young-jun.”

“What?”

I spoke to him as he turned around with a flushed face.

“Don’t mess with me. The demon crouching inside me will defeat the demon crouching inside you.”