Chapter 312: A Summons from Vice-Chairman Jin Young-ki

Vice-chairman Jin Young-gi’s summons sent his two sons rushing to their father’s house. The reason for the urgent call was clear to both of them: the interview broadcast featuring the head of an American investment firm.

Pacing anxiously in the living room, Vice-chairman Jin Young-gi seemed to relax slightly as his sons arrived.

“That woman, Rachel, or whatever her name is, you saw the interview?”

“Yes. She strutted around as if she were some big shot, spouting arrogant nonsense,” Jin Young-jun grumbled.

Jin Kyung-jun also found her interview grating, but he knew his father wasn’t looking for that kind of answer. His father wasn’t one to call his sons just for a bit of satisfying gossip.

“And you? What do you think?”

Jin Kyung-jun met his father’s gaze directly.

“I don’t believe that interview reflects her true intentions. They’re well aware that the shareholding structure of major Korean companies makes it impossible to acquire a single entity through a simple M&A. Spouting such things while understanding the cross-shareholding structure means there’s another motive at play.”

“Motive?”

Jin Young-jun glared at his younger brother, a displeased expression on his face.

“Well, what is the motive then?”

“Hyung-nim, isn’t Miracle connected to Do-jun? Then wouldn’t it make sense that Rachel Arieff, the CEO of that New York Miracle, was simply doing what Do-jun told her in that press conference?”

Vice-chairman Jin Young-gi slapped his knee at his second son’s words.

“That’s exactly what I was thinking. If that Rachel woman said what he told her to, then that wasn’t a press conference, it was a shot aimed right at us!”

“Father, while it seems certain that Do-jun is the owner of Korea Miracle’s funds, we can’t be sure that the American funds are also his. Making hasty assumptions is dangerous.”

Seeing Vice-chairman Jin Young-gi consider his second son’s opinion, Jin Young-jun quickly interjected with a different viewpoint, not wanting to be outdone by his brother.

“They’re definitely deeply connected, so we should assume Do-jun’s thinking was behind the press conference’s content. Otherwise, it’s just too outlandish.”

Listening to his two sons’ conversation, Vice-chairman Jin Young-gi’s expression darkened further. He was already convinced that Jin Do-jun was heavily involved.

“That brat is trying to make a preemptive strike. He’s waiting for any opening in the group’s succession process to barge right in.”

Jin Kyung-jun found his father’s overly anxious demeanor rather strange.

However, Jin Young-jun, as the eldest son, had a nagging feeling. He was the intended successor his father spoke of. Anxiety stemmed from uncertainty.

“Father, don’t worry too much. The Miracle CEO’s interview isn’t a declaration of war, and Do-jun isn’t reckless enough to jump in without knowing the situation.”

Jin Young-jun turned to his younger brother.

“Kyung-jun, why don’t you try meeting with Do-jun?”

“Huh? Me?”

“Yes. No matter how much that sly devil hides his true intentions, something will show in his expression, his attitude. Go and see for yourself.”

Jin Kyung-jun realized his older brother was trying to calm their father down, and he was slightly surprised.

Is this why parents favor their eldest sons? They know what needs to be said at the most opportune moment for their parents’ sake.

“Alright. I’ll meet him early tomorrow morning.”

Perhaps it was due to his two sons’ attitudes, but the stiffness in Vice-chairman Jin Young-gi’s face eased.

“I’m getting old, worrying about nothing. But seeing you two so dependable makes me feel a lot better.”

Seeing his father look particularly aged, Jin Kyung-jun had much to say, but he held his tongue for today.

***

“Were you that curious? Enough to come barging in this early?”

“Stop the sarcasm and tell me. Why did you pull that stunt?”

“What are you playing at now?” Do-jun frowned at Jin Kyung-jun’s outburst.

Jin Kyung-jun huffed in annoyance.

“What?”

“Pick a side. Either run errands for Father and Hyung-nim and be called a dutiful son, or be branded a scoundrel and snatch up a few Soonyang subsidiaries. Don’t you know the fable of the bat? How did that creature end up?”

“Hey! That’s….”

“Checking if Rachel’s press conference was my doing, or what my intentions were, that sounds like you want to be a dutiful son. If you were on my side, you’d be asking about Uncle and Young-jun Hyung’s reactions and responses to the press conference. Isn’t that right?”

He pressed on, seeing Jin Kyung-jun’s silence.

“If you’ve decided on a path, stay on it. Do you think this is a trivial matter? Just a simple family squabble?”

“Do-jun…”

“If you see our family feud as something personal, then get out now. Trillions of won could vanish in an instant, and a nation’s stock market could be shaken. Even if someone gets into a car accident, it wouldn’t be surprising.”

Jin Kyung-jun might not fully grasp the meaning of the car accident remark, but he should at least understand that this is a high-stakes game where lives could be at risk.

“Listen carefully. If Hyung puts me in danger, I will bury him. Permanently. Do you understand?”

Jin Kyung-jun knew he wasn’t bluffing. He could easily bankrupt his father’s foundation, a shell of its former self.

Whether it was the threat or a change of heart, Jin Kyung-jun finally spoke after a long pause.

“Father is very afraid that you’ve declared war.”

“He thinks I might be amassing stocks with massive amounts of funds?”

“Probably. It’s because the governance structure is so vulnerable.”

“Where exactly is it vulnerable?”

Jin Kyung-jun hesitated for a moment before letting out a short sigh.

“I’m not entirely sure, but I think there are two places.”

“Where?”

“Woosung MK and one bank, but I’m not sure which bank it is.”

“Woosung…?”

Over a decade ago, during the IMF crisis, rumors swirled that the bankrupt Woosung Group had stashed away hundreds of billions of won in slush funds, with some even estimating over a trillion won.

This slush fund was allegedly laundered overseas for years before resurfacing as the start-up capital for an investment firm called Woosung MK. It’s already been confirmed that they hold significant shares in Soonyang Corporation and its major subsidiaries.

However, it’s common knowledge in the financial world that Woosung MK’s CEO has a close relationship with Vice-chairman Jin Young-gi.

This was the reason why Vice-chairman Jin Young-gi was the one who silenced the prosecution when they were intensely investigating Woosung MK’s funds, suspecting they were Woosung Group’s hidden assets.

Didn’t Lee Hak-jae and I give up on the idea that Woosung MK was a solid ally of Vice-chairman Jin Young-gi long ago?

“Find out quickly why Woosung MK turned its back on us and which bank it is.”

“Hey! Give me a break. Where does this high-handedness come from?”

“Enough with the idle chatter. I’m not in the mood to indulge you.”

It was harsh, but he needed to accept the situation quickly. The longer he hesitated and agonized, the more likely he would side with his own flesh and blood. He needed to burn his bridges quickly.

Jin Kyung-jun gritted his teeth and glared at me for a moment, but got up without another word.

“What will you tell Uncle about Rachel’s press conference?”

“I’ll handle it myself. Do I need to report everything to you and get your permission?”

He spat out the sharp retort and left.

This is how young masters change.

***

“It seems Do-jun was just testing the waters, trying to see where everyone stands.”

“Testing the waters?”

Vice-chairman Jin Young-gi stared intently at his second son, listening closely.

“There are several entities holding shares in the group, right? It seemed like he was trying to see which ones might be turning against us. He knows that buying up shares with brute force is a foolish move.”

“I knew it! That American bitch’s outburst was definitely connected to that Do-jun brat.”

Jin Kyung-jun found it difficult to look his father in the eye, and a surge of self-loathing rose within him for constantly shifting his allegiance.

“But Father, our friendly shares are secure, right? Surely, our relationships aren’t so weak that they’d be swayed by such a provocation?”

Jin Kyung-jun asked casually. His eyes, however, didn’t miss his father’s expression.

“Not necessarily. They prioritize their own interests. The ties of loyalty and obligation vanished from this game a long time ago.”

“Could that rumor be true?”

“What rumor?”

“That one bank and Woosung MK aren’t supporting us.”

“Where did you hear that rumor?”

Vice-chairman Jin Young-gi looked visibly flustered at his son’s words. Even the most impregnable fortress can be shaken by a single, damaging rumor spreading among its inhabitants.

In this case, the consequence might be defection.

“I’m working in the Electronics strategy planning department, aren’t I? The employees are scrambling to secure friendly shares, and that kind of talk has been circulating.”

Jin Young-gi breathed a sigh of relief at his son’s explanation.

It was just internal chatter among the staff. It hadn’t spread outside yet.

“You need to keep those guys quiet. Make sure those kinds of rumors stay within our walls.”

“Yes. But the rumor is true, isn’t it?”

“Yes. Unfortunately, it seems they’re going to leave our side.”

“What’s the reason? Especially Woosung MK’s CEO, isn’t he a close friend of yours, Father?”

“They’re feeling uneasy.”

Deeper lines etched themselves onto Jin Young-gi’s forehead.

“They don’t have faith in your brother’s abilities. They want to wait and see if he’s truly capable of leading the group.”

Jin Kyung-jun’s eyes widened.

They doubt his brother’s ability enough to consider withdrawing their support. Could this be an opportunity for him?

But seeing his father’s expression, he quickly dismissed the fleeting hope. His father was smirking.

“Their reasons sound good, but… they’ve smelled money.”

“Excuse me?”

“They know the value of an arrow sold during wartime is higher than the bow itself. Especially in a war where money is overflowing, but the number of arrows is limited. They wouldn’t miss such a lucrative opportunity.”

“Then shouldn’t we just buy the shares Woosung MK holds?”

Jin Kyung-jun immediately regretted his question.

Time is a premium. Once Jin Do-jun fully reveals his hand, the price will skyrocket daily. Isn’t Jin Do-jun’s wealth common knowledge in the industry?

If they wait, the selling price will soar to unimaginable heights. Woosung MK, a supposed investment firm, isn’t stupid enough to sell their shares now without realizing this.

“Judging by your expression, I don’t need to answer that, do I? Ha ha.”

“Which bank is it?”

“Jinseong Bank.”

“Are they also just waiting for the stock price to rise?”

“No. Jinseong Bank won’t sell their shares. They’ll side with whoever they choose.”

“Choose…?”

“They’ll back the side that will readily increase their deposits whenever they need funds.”

Both situations favored Jin Do-jun. They couldn’t win a money war against him. Jinseong Bank and Woosung MK would side with Jin Do-jun.

Jin Young-gi gave a slight smile as he watched his son’s troubled expression.

“Disappointed? Thinking we’ll collapse so easily?”

“So, this is all about a battle of capital. Are we just going to crumble without a fight?”

“If that were the case, would Lee Hak-jae, who’s joined forces with Do-jun, have waited this long? He would have taken Electronics already.”

Jin Young-gi addressed his worried son.

“Buying and selling with money is small-scale. Woosung MK and Jinseong Bank hold a limited number of shares. We’ll miss them, but we need to aim for something bigger.”

“Bigger, you say?”

“Yes, something bigger. It’s not about money; it’s about making deals. You’ll understand soon enough.”

Jin Kyung-jun could vaguely grasp the difference between buying and selling with money and making a deal.