Chapter 320: 2012: The Year of Elections and a Family Feud

The year 2012 was practically synonymous with elections, with polls scheduled to take place across the globe.

South Korea was gearing up for both its general and presidential elections, while the US, Russia, Mexico, Spain, and France were anticipating their own presidential races.

However, the dawn of the new year in Korea saw a lawsuit overshadow every other headline, sending ripples of commotion throughout the nation.

The media, seizing the attention-grabbing narrative of the shareholder injunction lawsuit, dubbed it ‘The Youngest Son’s Rebellion’ or ‘The Youngest Son Strikes Back,’ raking in massive advertising revenue thanks to the ensuing click frenzy.

Inside the courtroom, the country’s two most prestigious law firms engaged in a fierce battle, while outside, a one-sided public opinion war raged.

From the media’s perspective, both Young-joon and I were major advertisers. They gave both sides relatively equal coverage, but the sheer volume of clicks and comments my articles generated meant a landslide victory in the court of public opinion.

“A corporation isn’t a dynasty. Is the principle of succession by the eldest son even remotely justifiable in modern society? Especially when illegal methods are employed?”

“But Mr. Jin Do-jun, aren’t you also of the same bloodline? To outsiders, this looks like a power struggle between the princes of a dynasty. There’s no real difference between Mr. Jin Young-jun and Mr. Jin Do-jun.”

It seemed like a pointed question, but interviews are often just a prearranged performance.

“I never said I wanted that position. My only opposition is to the merger, which borders on the illegal, not just unethical. I’m speaking as a shareholder of Soonyang Corporation.”

“Among the shareholders of Soonyang Corporation, you’re the only one willing to go as far as a lawsuit. Are you saying that has nothing to do with succeeding the group?”

I paused, about to deliver my prepared response. It felt like it was time to add a bit more fuel to the fire.

“What makes you think I want Soonyang Corporation?”

Even in a prearranged interview, sometimes you misplay your hand. That’s when quick thinking is crucial. Fortunately, the reporter interviewing me was sharp.

“W-well… if you take over Soonyang Corporation, the circular shareholding structure would mean you’d also gain control of Soonyang Electronics, wouldn’t it? And by extension, the shares held by Electronics in other subsidiaries—it’s like hitting the jackpot…”

“So, what makes you assume I want Soonyang Electronics? I have no desire for the Soonyang Group.”

My unexpected answer seemed to pique the reporter’s competitive spirit; their questions started to have an edge.

“Really? Why would you go to the trouble of a lawsuit if you didn’t want it?”

“Reporter.”

I smiled, meeting the reporter’s eyes.

“The public is very curious about something. They call me Jin Do-jun, the investment prodigy, and they wonder just how much wealth I’ve amassed…”

The reporter swallowed hard.

If I revealed my wealth, it would be an earth-shattering exclusive.

“Have you ever seen billionaires on the Forbes list file lawsuits to take over other companies?”

“N-no.”

“There are many reasons to acquire a company, but ultimately, it’s a business transaction. To put it bluntly, it’s about making money. Global tycoons acquire companies for investments, not just to expand their empire.”

“Are you saying you’re a billionaire on par with Warren Buffett or Bill Gates?”

“If I were to liquidate all my investments and compile a list of my assets, every single billionaire on the Forbes list would drop down a rank. No exceptions.”

“P-perhaps… I’m misunderstanding something. Are you saying you’re the wealthiest person in the world?”

The reporter stammered, barely containing their excitement. They had landed the scoop of a lifetime.

“Certainly. Probably about double the current number one.”

The reporter’s bewildered expression was plain to see. They didn’t know the current world’s richest person’s net worth.

“But I digress… Let me be clear. I have no reason to covet Soonyang Electronics or Logistics. My only issue is the backward practice of seizing a globally competitive company through unethical means, going against the interests of the shareholders. Even if it involves family…”

* * *

“That brat just has to flaunt his wealth publicly like that.”

Chairman Lee Hak-jae turned off the TV and picked up his teacup.

“Surely you didn’t turn on the TV just to watch that?”

“Of course not. Why would I watch something I already know?”

Chief of Staff Baek Jun-hyuk chuckled and pulled out a cigarette.

“So? What does Jin Do-jun’s wealth have to do with me?”

“Just letting you know how this fight will end.”

“It’s obvious. We’ll win. We wouldn’t have started if we didn’t think we had a chance.”

“Aren’t you making a big mistake?”

“A mistake? How so?”

“It’s like a wolf hunting a single fleeing deer. If it’s lucky, it survives, but one wrong step and it’s caught. The wolf doesn’t die if the hunt fails. Is that even a fight?”

Chief of Staff Baek lit his cigarette.

“Chief of Staff Lee, stop impersonating Chairman Jin and get to the point.”

“Just talking to a fellow lackey. When the owner changes, the lackey retires too. You know that, right?”

“Are you trying to recruit me? Save myself from being discarded by joining your side? Is that it?”

Chief of Staff Baek glared, but Chairman Lee just smiled and nodded.

“You catch on quick.”

“Chief of Staff!”

“I’m not asking you to come work for me, so don’t shout. I just have a proposition.”

“What kind of proposition?”

“Do you know what Jin Young-gi said to me when the late Chairman Jin distributed his shares and stepped down? It was the first thing he said to me.”

“……?”

“He told me to breathe and act like I was dead. Not only was I barred from any involvement in the group’s affairs, but I also couldn’t do anything outside of it. That wasn’t retirement; that was an order to be buried alive with the deceased.”

A servant buried alive with their master upon death. The son of his former lord had given that order.

Chief of Staff Baek Jun-hyuk thought of Jin Young-gi’s son, his current lord, who was already retired. What kind of orders would that man give? He wanted to stop thinking, but the question lingered in his mind.

“You’re much younger than me. Aren’t you in the prime of your career? Can you just breathe and exist?”

“I’d be too ashamed to be fawning over Jin Do-jun like you, Chief of Staff Lee.”

It was a clear sneer, but Chairman Lee Hak-jae’s expression remained gentle.

“Is that what you see? You don’t know Do-jun at all. Do you really think someone who just plays the boss can single-handedly take over Soonyang and become the wealthiest person in the world by the age of thirty?”

“Then what is it? You’re just serving Jin Do-jun instead of Chairman Jin. You can deny it all you want, but that’s the reality.”

“Since becoming the chairman of HW Group, I haven’t had to get a single approval from Do-jun. Oh, wait, there was one time. When I needed emergency funds, I went to Do-jun instead of a bank. Do-jun isn’t interested in ruling; he’s only interested in conquering.”

“You expect me to believe that?”

“Believe it or not, it’s your choice. Anyway, Do-jun is like Genghis Khan. He conquers and then just throws the land to someone else… Come to think of it, he really is a wolf. Haha.”

Chairman Lee noticed Chief of Staff Baek’s frown.

“You have a lot of connections, don’t you? Ask around. See if I’m lying.”

“I’m not interested. Either way, I have no intention of blocking the general shareholders’ meeting or the merger for Jin Do-jun, so why don’t we stop wasting each other’s time?”

“Don’t get me wrong. I’m not interested in Electronics or Logistics. That’s Do-jun’s business.”

“Then why did you want to meet?”

Chairman Lee Hak-jae’s smile faded, replaced by a serious expression.

“Jin Young-jun will try to bury you alive. When that happens, think carefully about what you truly want to do. If you think I can help you with that, don’t hesitate to ask. I’ll help you.”

Baek Jun-hyuk was stunned by the unexpected words.

“Lackeys understand other lackeys. You’ll have something you want to do eventually. After being a chairman, I’ve learned that life isn’t a one-way street. Hehe.”

Chairman Lee Hak-jae found Baek Jun-hyuk’s rigid expression familiar.

* * *

“I checked Forbes, and the wealthiest person in the world is someone from Mexico. Carlos Slim, a telecommunications tycoon. Worth 75 trillion won.”

“Really? Not even 80 trillion?”

“Nope.”

My wife seemed to treat the abstract number like a test score.

It was the typical attitude of a bookworm who had always been obsessed with exams and rankings.

“But you said your wealth is double the number one, which would be 150 trillion won.”

“Well, if we’re just talking personal assets, it’s over 100 trillion won. Including the Soonyang Group, it’s a different story.”

“And yet, you still want all of the Soonyang Group?”

Was this the question she really wanted to ask? Did she feel sorry for her husband’s struggles?

“I’ve never thought of the Soonyang Group in terms of money. It’s more like a life goal.”

My wife didn’t ask why Soonyang Group was my life goal. Even as a married couple, our perspectives on external matters differed. She had her own goals.

“Should I talk to my family? Ask them to block the merger?”

My wife opened her mouth cautiously, watching my reaction.

Now that the lawsuit had begun, the power lay with the court. A blade that wasn’t particularly sharp or large, but a blade nonetheless.

With my in-laws’ connections in the judiciary, they could exert significant influence.

“No. Just pretend you don’t know anything.”

“Why? You don’t want help from my family?”

“Absolutely not. When I need them, I’ll be the first to beg for their help. This merger is what I want. My powerful father-in-law’s influence will be needed later. He’ll pay the price for accepting such an unconventional son-in-law. Haha.”

“Then why did you start the lawsuit to block the general shareholders’ meeting?”

She was curious about her husband’s inscrutable intentions.

“Just to make the entire nation scrutinize Soonyang with a sense of unease. That’s enough for me.”

Since we were on the subject, I asked my wife,

“Have you heard anything about what the judiciary thinks of this merger?”

“Just rumors. Once the judge is assigned, the rumors will become reality. We’ll know which side they’re on.”

“What are the rumors saying?”

“Eliminate any obstacles to the merger early on. Something like that was ordered from the top?”

Aren’t those the people with the power to put pressure on the judiciary? If my plan goes accordingly, a few judges will be losing their jobs.

“You absolutely cannot take this case. Absolutely!”

“I’m a criminal court judge! Don’t you know what your own wife does? And you went to law school?!”

* * *

On June 1st, the civil division of the Seoul Central District Court dismissed the injunction application to prohibit the merger. Less than a week later, the application to ban the sale of treasury shares of Soonyang Corporation was also dismissed. The court ruled that the sale of treasury shares was not significantly unfair or contrary to social norms.

What was truly astonishing was that the civil division of the Seoul High Court concluded the appeal hearing in less than another week. Unsurprisingly, they also rejected the injunction applications to prevent the resolution of the general shareholders’ meeting and the sale of treasury shares. Such swift legal proceedings were practically unheard of. Vice-chairman Jin Young-gi and Jin Young-jun were moving at lightning speed.

As soon as July arrived, Soonyang Corporation held an extraordinary general shareholders’ meeting and passed the merger plan with Soonyang Ad Media. The approval rate was nearly 70%, and the meeting concluded in just 25 minutes.

The head of the National Pension Service’s investment division, the second-largest shareholder of Soonyang Corporation, was present, but it wasn’t Hyun Wan-joo. The suddenly replaced head was merely a planning department head within the fund management division.

The reason for this unprecedented personnel change was likely because he was the perfect puppet to cast the approving vote as instructed. A long sigh escaped my lips as the shareholders’ meeting concluded.

I’ve given up flesh. Now, it’s time to take the bones.

* * *