Chapter 317: A Tangled Web of Schemes

“Vice-chairman Jin Young-gi isn’t stupid enough to do something that’s clearly going to fail. Besides, this isn’t the time for him to stir up trouble for no reason.”

“Soonyang Ad Media should be fine, but if Soonyang Corporation starts hurting itself, the big players won’t just sit back and watch.”

The absurdity of it all left me speechless, only empty words escaping my lips.

With a struggle, I shook off the shock and regained my senses.

Now wasn’t the time for this.

I needed to find out how far my uncle’s influence stretched. As I rushed out, Chairman Lee called out to me.

“This kind of plan isn’t possible without their approval, you know that, right?”

“Yes. I’ll take charge of Jongno, so Chairman, you…”

“I’ll handle Yeouido. Let’s move quickly. The best way to stop this is to bring down the general shareholders’ meeting.”

As soon as I returned to Soonyang headquarters, I called for Vice President Jang Do-hyung.

“Get our people at the Financial Supervisory Service to look into the Soonyang Corporation merger.”

“Excuse me? The Corporation merger?”

“It seems Vice-chairman Jin Young-gi is behind this. His aim is to use Soonyang Ad Media to increase his control over the Corporation.”

“Good heavens!”

He frowned and slapped his forehead.

“What is it? Is there something else?”

“Soonyang Ad Media announced a rights offering. It’s not even a listed company, practically a private entity, yet they’re pulling all sorts of unnecessary stunts…”

“When was that?”

“I believe it was two days ago. I’ll double-check.”

They’re planning to massively increase the number of shares. Those shares will then be converted into Soonyang Corporation stock.

“Check all the gossip circulating in the Yeouido stock market and compile a comprehensive report. Understood? Our primary goal is to prevent this merger.”

“Yes, Chief of staff.”

Vice President Jang Do-hyung hurried out with a determined look, and I took a steadying breath before picking up the receiver.

“Chief Secretary, let’s have a chat over tea. In that room. Right now.”

＊＊＊

I arrived early at the hotel room designated for the Blue House chief secretaries and waited. About ten minutes later, the Chief Secretary for Economic Affairs burst in, flustered.

“Oh my, how frightening. Why is our Chief of staff in such a foul mood…?”

“Don’t tell me you didn’t know or that this is news to you. This isn’t something that could happen without the Blue House knowing. Or rather, while the VIP might be unaware, at the very least, you, Chief Secretary, must have known.”

“Are you perhaps referring to the Soonyang Corporation matter?”

“Indeed… You’re well aware.”

The Chief Secretary for Economic Affairs scratched his head, looking troubled.

“It’s not like we can just step in and stop private companies from merging, can we?”

“Is Soonyang Corporation some corner store? It’s a company with a market capitalization of over 15 trillion won. When a company like that moves, it’s already beyond the realm of private affairs. Vice-chairman Jin Young-gi isn’t foolish enough to start something this outrageous without the government’s implicit, no, explicit cooperation.”

Perhaps it was my accusatory tone, but the smile vanished from his face.

“This… is starting to get on my nerves. You’re already questioning a merger that hasn’t even happened… Do you want me to offer excuses? Or what? Should we stop the shareholders’ meeting? Deploy the police and water cannons?”

This guy’s getting cocky.

Having been at the Blue House for nearly four years without being replaced, ministers and assemblymen must have been fawning over him, calling him a man of power. As the Chief Secretary for Economic Affairs, he’s probably dined with CEOs of major corporations frequently.

Now, even the chaebols seem commonplace to him, and big companies are a dime a dozen. It’s perhaps natural that he no longer bows his head.

“Chief Secretary.”

I said with a smile to him, who was glaring at me.

“I understand you’re in a difficult position, caught between Vice-chairman Jin Young-gi and me. In situations like this, don’t worry about choosing sides. Just accommodate both parties’ wishes. And when their interests clash, step aside. Trying to flex your muscles and poke at both sides will only make things worse for you.”

“What did you say?”

“Ah, and be extra careful not to mistake yourself for the fulcrum of the scale. Don’t try to play Santa Claus with a sack full of gifts. Just move as the steering wheel turns.”

I had been treating him with courtesy, but I no longer had that luxury. Right now, I needed to grab him by the topknot, or perhaps yank his beard, and steer him in my desired direction.

“Shall I arrange for your face to be plastered on the front page of every major newspaper tomorrow? If you prefer, evening news broadcasts are also an option. ‘Economic Chief Secretary derails the Blue House at the end of the President’s term.’ Your dream is probably to trade your position for an Assemblyman’s badge in the next general election to protect the outgoing President… What a shame. Seems like it’s about to burst like a bubble.”

“If you’re planning on making empty threats, drop it. Gold power has always trumped political power. If we point our fingers, the National Intelligence Service and the Prosecution will move.”

“Will they, really?”

He bit his lip, noticing the smirk on my face.

“The National Intelligence Service? Shall I guess what their director had for lunch today, and who he had it with?”

“What?”

“The President appoints the director, but the working-level staff are civil servants. They’re more likely to be mindful of the 0B group, the shadowy council that secures their retirement, than a director who will leave with this administration. And do you know who funds that shadowy council?”

The Chief Secretary for Economic Affairs was speechless, realizing I had connections even within the National Intelligence Service.

“You think you control the world? A five-year limited power, and even that has only a year left. Do you think anyone will side with you? It’s been a long time since the world started bowing to money, not power. You’ve forgotten that for a while, sitting in the Blue House.”

I called out to him, still unable to speak.

“Hey, Chief Secretary.”

His blank eyes turned to me.

“You probably sacrificed your youth, studying like crazy to get into Seoul National University… Ah, I know. I, too, studied my ass off to get into Seoul National University’s law school to impress my grandfather. Come to think of it, you’re my senior. Anyway, I’m not bringing up alumni ties…”

I took a sip of water and offered him a glass.

“Did you feel like your status changed when you helped make the president who you serve now and entered the Blue House after clawing your way up from the bottom? Now you get to look down on people crawling in the dirt, and reporters swarm you every time you open your mouth, making you feel like a real power player in this country?”

The Chief Secretary for Economic Affairs was just holding the water glass, seemingly forgetting to bring it to his lips.

“But that rise in status? If it were that easy, why would we even use the word ‘status’? There are only two kinds of status. People who can send others to the gutter with a single word, and people who do everything they’re told to avoid ending up in the gutter. Which one do you think you are?”

Now it was time to show the Chief Secretary the reality he faced.

I took out my smartphone, turned on the speaker, and made a call.

“Chief Prosecutor, did you receive the materials?”

一 Yes, Chief of staff. But are you sure about this?

A slightly worried voice came through the speaker.

“It’s fine. The media will fire the first shots, not the prosecution. The prosecution will just maintain the appearance of launching a swift investigation.”

The Chief Prosecutor’s voice was noticeably lighter upon learning that the media would break the story first.

一 Understood. We’ll start the investigation after confirming the broadcast.

“Chief Prosecutor.”

一 Yes?

“If you’re feeling pressured because it involves a Blue House chief secretary, you can drop it.”

一 Absolutely not. Covering up such clear evidence would be a dereliction of duty.

As soon as the call ended, he shouted.

“Wha-what materials are you talking about?!”

“Materials that the media and the prosecution will find very interesting. Rack your brain. What could it be? Ah…! There must be so many, it’s hard to recall just one, right?”

Realizing the situation he was in, he sighed and said.

“What exactly do you want? As I said, it’s difficult for me to stop what Vice-chairman Jin Young-gi is doing.”

His tone seemed more respectful now.

“Really? Even with the VIP’s approval?”

“I don’t know. How far their involvement goes…”

“Do you really think it’s believable for the Chief Secretary for Economic Affairs to be unaware of a major corporate merger?”

“It’s the truth! The only instruction I received was to prepare for a media briefing, just in case. You know this is a place where it’s best not to show curiosity about things you’re not supposed to know.”

“Fine, let’s say that’s true. Then what do you know?”

“All I did was exchange greetings once. I was at a dinner with the Deputy Prime Minister for Economic Affairs, and he told me to take good care of him in the future. There were no other conversations. I only received notification about the merger afterward.”

“Vice-chairman Jin Young-gi came to greet you personally? Surely not…”

He wasn’t the type to show his face for such trivial matters. Chief of Staff Baek Jun-hyuk would be more than sufficient for that.

“No, it was Jin Young-jun who came.”

“Jin Young-jun?”

“Yes. He was very vocal, saying he’d be taking charge of group management from now on. Isn’t that his way of announcing he’ll step into the forefront as soon as he inherits the company?”

“So, for this merger, Vice-chairman Jin Young-gi hasn’t shown his face, and Jin Young-jun has been the one going around?”

“Probably. Jin Young-gi, who will pass on all his group shares, is now portraying himself as a toothless tiger, all to support his son.”

It was almost touching how hard he was trying to play the parent.

“Chief Secretary.”

“Yes.”

“It seems the rumors were wrong.”

“What rumors are you talking about?”

“The rumor that you’re a power player. It would be unprecedented for a real power player to be excluded from such a significant event.”

“Hey! Chief Jin!”

He bristled and raised his voice again, but I lightly waved my hand.

“Calm down. I’m saying this for your own good…”

“What? For my good? I’m at a loss for words…”

I smiled at him as he clicked his tongue.

“A big event is unfolding at the end of this administration, and you’ve been left out. Since the VIP doesn’t seem to plan on taking you with him, you should think carefully about switching allegiances. If you’re having a hard time, feel free to reach out anytime. I’ll help you within my capabilities.”

His face flushed red. It meant he was already aware of this.

“I apologize if I’ve been too harsh, but please understand. I’m also in a desperate situation right now. Haha.”

As I stood up, smiling, he bowed his head.

“No, it’s me who was being arrogant. I’ll look into this matter further and contact you if any new information comes up.”

“Alright. Oh, and I put a few more boxes in the trunk. You’ll have many expenses coming up, so if you need more, don’t hesitate to call.”

I left the hotel, leaving him bowing deeply once more.

＊＊＊

“Jin Young-gi is throwing everything he has into this. People say that no one can ignore their past connections, so they’re turning a blind eye.”

The information Chairman Lee Hak-jae gathered after stirring things up in Yeouido wasn’t encouraging.

“The sentiment is that it’s better to settle things now, that it’s only natural for the eldest son to inherit the electronics and corporation branches… That’s the gist of it. They’re also uncomfortable with the infighting within Soonyang.”

“So… you’re saying he’s even playing on people’s sympathy?”

“What’s scarier than liking someone is feeling sorry for them. That kind of sympathy makes people want to open their own wallets to help.”

That damned eldest son, combined with the old vice-chairman’s pleading.

My uncle, who used to command the world as if it were his own, was resorting to such childish tactics.

“How much influence does he have to be so confident about this merger? He needs the support of at least three major institutions, right?”

Chairman Lee Hak-jae handed me some documents.

“I’ve categorized it based on the current shareholding status. He’ll sway the public opinion to get the retail investors to vote in favor of the merger…”

“All of the retail investors? Is that even possible?”

Chairman Lee Hak-jae pointed at me.

“This is your fault. You gave the retail investors a reason to flock to his side.”

Me?

What did I do wrong?