Chapter 308: Where Ambition Grows, Cold Calculation Takes Root

Where the heat of ambition had faded, a cold calculation settled in. Only now did Jin Kyung-jun ask the question he should have from the start.

“If you take over the entire Soonyang Group, I’d have to obey you without question, right? Just like no one ever went against Grandfather’s word.”

“That’s how it’ll be.”

My confident reply confirmed his suspicions.

“The rumors are true then. Miracle is yours, and you’re the real power behind HW Group too….”

I didn’t confirm or deny it, offering only a cryptic smile. After all, people believe what they want to believe. That belief was my answer.

“But I can’t make a decision based solely on your word. You know as well as I do that money alone can’t buy the Chairman’s seat at Soonyang.”

Reality seemed to be setting in for him.

“You’re looking for insurance?”

“Insurance?”

“Yeah. You want to avoid being left high and dry if you fail to take Soonyang.”

“You could call it that. Is it possible?”

“How about becoming the CEO of Construction or Heavy Industries? Or even HW Automobile? But are you confident you can handle it? I’ve made it clear: if your performance numbers are weak, you’re out. Of course, I’d be a little more lenient with you than others.”

“Insurance is insurance… but first, you need to give me some assurance.”

“Assurance….”

He meant assurance that I could wrest control of the group from his father and older brother.

“Do you know why I want to keep my brother by my side?”

“That’s another thing I wanted to ask. If you’re so confident, you wouldn’t need me.”

“The first reason is that I might not need you, which I’ll explain later. The second is more important: I need you to play the role of a nodding head.”

“A nodding head?”

“Yeah. I’m the youngest son of this family. Historically, when the youngest son ascends to the throne, he needs a certain amount of support. It’s not about shares. I want everyone to acknowledge that I’m the only one fit to be Chairman.”

“You want all the blood relatives to support you?”

“Exactly. It looks pretty convincing when a cousin supports his younger cousin over his own brother.”

When Grand Prince Chungnyeong became the Crown Prince, Taejong’s immense power was behind him. Instead of Taejong, I want the support of everyone in the family.

It’s a picture I want to show not just within the group, but also to the outside political circles.

“That’s not really a reason for me to be confident, though.”

“You already believe I’ll take the Chairman’s seat at Soonyang, don’t you? Otherwise, you wouldn’t have come to me. Why come to someone who can’t give you what you want? Right?”

It was nothing more than building justification for betraying his father and brother. It’s a process of brainwashing himself with all sorts of reasons and excuses to feel justified.

“Keep an eye on me. If you don’t like what you see, you can always go back to your family.”

“Once the first button is buttoned, there’s no turning back. I won’t be able to go back.”

“That first button isn’t difficult to fasten. Your family will welcome it with open arms.”

Jin Kyung-jun’s expression shifted again. It was the look of someone who had found a lighthouse in the darkness, unsure of what to do next.

“My uncle’s decision is firm. No matter how much my brother begs, it won’t change. Jin Young-jun will get all the group shares.”

“So? You’re telling me to give up?”

“You have to. There’s no other way. Instead, get everything else.”

“Everything else?”

“You were born as the eldest son of Soonyang, and you’re almost seventy. Do you think all you have is shares? Real estate, securities, deposits, gold bars, and so on… Get as much as you can. Now is the right time. Your uncle feels guilty towards your brother, so you have to get it while he feels that way. That guilt will disappear after a while. Any emotion fades with time.”

“Officially declare that I’m leaving the group?”

“Don’t regret stepping down; just think about how much you’re going to get.”

Jin Kyung-jun fell silent, lost in thought.

The moment he says he’ll give up his shares, his future changes. It seemed he had already made up his mind and was now planning his next move.

“Pack your bags and come to Korea. Tell them you’ll help Young-jun hyung with his work.”

It was a way to shorten his decision-making time.

“What? Hey! You want me to be a lackey for my younger brother? Or maybe you want me to be your spy?”

“Don’t misunderstand. You want to be the president of Electronics, don’t you? Or at least the president of Logistics? But are you going to aim for that position without any preparation? I guarantee you, if you do it that way, you won’t last six months, even if you get the job. I told you, my policy is to cut anyone who lacks ability.”

He looked a little shocked.

He should be ashamed of his whining and complaining.

Whether or not he can shed the skin of a spoiled chaebol heir who only seeks the fruits without cultivating the skills will be decided now.

If he doesn’t realize that being a salaried professional manager is his future, he’ll remain a childish young master forever.

Jin Kyung-jun let out a groan and stood up.

“Make sure I don’t regret this decision. Otherwise, I’ll side with my brother anytime.”

“You’ll see soon enough what kind of person I am.”

Jin Kyung-jun didn’t refuse the hand I offered and gripped it firmly.

* * *

“What… what can I say? Thank you, my son.”

“It’s nothing. I’ve realized that protecting the company is the same as protecting Father. I’m sorry for making you uncomfortable all this time.”

Vice-chairman Jin Young-gi stroked the back of his bowing second son.

“Now, what can this father do for you? Tell me anything you want, my son. I’ll grant it all. Heh heh.”

Jin Kyung-jun carefully gauged his father’s reaction before speaking.

“I’ll help Young-jun hyung until he’s settled in the group.”

“Oh, really?”

Vice-chairman Jin Young-gi’s face brightened even more. Wasn’t the sight of brothers uniting their strength something every father loved to see?

“But once Young-jun hyung is secure, I plan to step down.”

“What?”

“Aren’t I also Father’s son? There’s a chance of further division. If I also establish myself in the group, executives will line up behind me, even if I don’t want them to. Father knows this well, doesn’t he? How salaried employees scramble to grab onto the rope of whoever’s on top.”

“You’ve thought that deeply?”

The father was touched by his insightful second son’s words, regretting that he hadn’t paid more attention to a son with such depth.

But they had already passed the point of no return.

Observing his father’s expression, Jin Kyung-jun knew his strategy had worked and spoke with a bit more confidence.

“It’s okay for me to leave the group, but I can’t help but think about the kids. They are Soonyang blood, after all….”

“You rascal. Did you think I’d let my grandchildren live without being able to breathe? Don’t worry. Old folks used to give houses to the eldest son and money to the second. Isn’t Soonyang Group the house for our family? Even if your brother gets the group, I’ll give all my personal assets to you. Not just for three generations, but for many generations to come, you’ll live comfortably.”

Seeing his father pat his chest and speak loudly, Jin Kyung-jun felt a sense of relief.

He didn’t have to beg for more; his father offered everything on his own. Wasn’t this a success?

When Vice-chairman Jin Young-gi called his eldest son to tell him about his younger brother’s decision, Jin Young-jun’s expression couldn’t have been brighter.

“Kyung-jun, thank you so much. I know you’re making a big sacrifice. I’ll never forget it.”

A complete stranger would be better.

If you sacrifice for others, you’re at least praised as a righteous person. Hearing the word ‘sacrifice’ from his brother, who was taking everything, only filled him with annoyance.

Saying he wouldn’t forget it wasn’t as genuine as offering to concede even a small part. Seeing Jin Young-gi spouting empty words, he thought his cousin was better.

At least that cousin had promised him a couple of mid-sized subsidiaries.

“Since you’re going to help me, come in tomorrow. Father, that’s right, isn’t it?”

“Of course. We can find someone to fill that seat later, but Kyung-jun’s position needs to be arranged right away. I’ll give the orders, so you bring your family in quickly.”

“Ah, no. I plan to come alone.”

“Huh? Why?”

“I have children. I plan to send them to England after they graduate school in Australia. There’s no need to bring the kids all the way here.”

“Alright. That’s not a bad idea either. They’re your family, so you decide.”

Jin Kyung-jun felt a pang of guilt towards his father, who was agreeing to everything he said.

Jin Kyung-jun wanted to prevent his wife and children from getting hurt in the fierce battles to come.

* * *

It might not be the ability Jin Kyung-jun wanted to see, but something that could further enhance my image was about to happen. No, it was already happening.

After checking an email, I immediately picked up the phone.

“Rachel, I just checked the email. Is this information reliable?”

― It’s not definitive. It came from the Hong Kong branch… Since it’s not verified, I didn’t put it in the official announcement email and sent it to you personally. Some of it is confirmed, and some isn’t. The judgment is yours. Okay?

As soon as I hung up, I called Vice President Jang Do-hyung and all the securities firm executives.

They couldn’t hide their nervous expressions. Every time I called everyone together, it meant a major event was about to unfold.

“Find out the exact status of the Korean stocks and financial products held by Deutsche Bank. Also, find out the total amount of their futures investments.”

“Deutsche Bank’s Korean branch?”

“No. Find out the holdings of the headquarters and all branches worldwide. You wouldn’t ask how to find out, would you?”

No one frowned or complained about the difficulty.

Everyone seemed fearful that the aftershocks of the US financial crisis were about to hit Korea once again.

Deutsche Bank is a global investment bank in the bulge bracket, alongside Goldman Sachs, Morgan Stanley, JP Morgan, Citigroup, and UBS.

The term ‘bulge bracket’ refers to elite investment banks with clients worldwide that offer almost all services, including securities underwriting, capital raising, and mergers and acquisitions (M&A) advisory.

Once bitten, twice shy. The mere mention of a bulge bracket bank sent shivers down everyone’s spines, as the financial crisis wasn’t truly over.

“I know what you’re all thinking. It’s not confirmed yet, so let’s focus on understanding the situation first. Be thorough and accurate in your investigation.”

“Yes, sir.”

“And tell Soonyang Financial’s Hong Kong branch to investigate as well. Ah, I’ll inform Miracle’s Hong Kong branch, so instruct them to meet directly and obtain information.”

“Did Miracle inform you of something?”

Vice President Jang Do-hyung asked cautiously.

“Yes. It seems the Hong Kong branch has heard some rumors. You all know that rumors don’t usually stay as just rumors. We need to check thoroughly.”

After the meeting ended, Vice President Jang Do-hyung, who remained behind, asked worriedly.

“Is there a rumor that Deutsche Bank is going bankrupt?”

“No. It seems these guys are targeting the Korean stock market.”

“Pardon?”

“It seems they plan to shake up the stock market to cover the losses they incurred during the subprime mortgage crisis in the US. We need to find out what methods they’ll use.”

“Why would they target Korea of all places….”

Every time foreign capital shook the Korean stock market, tens of trillions of won evaporated. Moreover, most of this money belonged to ordinary investors, leading to the ruin of countless families.

“Doesn’t it just mean that Korea’s financial market is still vulnerable enough to be shaken by external meddling?”

They must be underestimating the Korean financial market.

Surely, they aren’t holding a grudge just because I skimmed some money from Deutsche Bank using Credit Default Swaps, are they?

* * *