Chapter 45: Only You Are Worth a Damn

“Do-jun.”

“Yes.”

Jin Young-jun studied my face, flushed from the alcohol, and quietly whispered.

“Among our brothers, you’re the only one worth a damn. The rest are rotten to the core. Even when they get older and wiser, I doubt they’ll have the ability to run a company.”

I was so dumbfounded I couldn’t even laugh. My cousins’ current behavior wasn’t much different from Jin Young-jun’s in his twenties. Even now, Jin Young-jun doesn’t exactly scream potential.

He’d barely returned to the country before he started hanging out with celebrities. Considering what the advertising model said earlier, he probably brought them over to play even when he was abroad.

“Frankly, I don’t care if you pass the bar exam or become a prosecutor. Just stay by my side and use that brilliant mind of yours. You’ll become the number two of Soonyang Group.”

Was it because he was wary of me? Or was he genuinely looking for a reliable right-hand man?

“Wow, so the handsome oppa is smart too? Then oppa is my boyfriend starting today.”

A pretty girl clung to my side, refusing to let go. Our conversation was cut short because of this girl.

“You’re quick on the uptake. Play your cards right. If our little brother takes a liking to you, you’ve landed a real sugar daddy. That kid’s got tens of billions in assets, you know. Haha.”

The woman’s eyes gleamed at the mention of tens of billions. Jin Young-jun patted my shoulder and headed upstairs, his arms around the waists of two women.

“Life is so unfair. A third-generation chaebol with brains to boot. Handsome, tall. Gosh, you’re the perfect ideal type.”

“You were born beautiful too. That’s why you’re here.”

I unwrapped her hand from my waist and said,

“Let me ask you one thing. How do you know my brother?”

“Are you more curious about that than who I am?”

“You’re probably a celebrity. Or an aspiring one. Just answer my question.”

“This industry is small. If you know one semi-famous person, introductions just follow. Get their number, meet up, get introduced to others. Before you know it, your phone is filled with female celebrities’ names. Of course, you need the money to back it up.”

Judging by how casually she said it, Jin Young-jun didn’t seem to need a procurer. Was it because he was still young?

“And I’m not an aspiring one. I’m debuting soon. My album is in the works.”

“A singer?”

“Yeah. You know H.O.T, right? The guys who debuted this summer.”

“Yeah, I know them.”

“It’s that kind of concept. Except the members are cute girls like me.”

A girl group? Could it be…?

“How old are you?”

“Seventeen.”

Good heavens! Isn’t she still in high school?

“Get a grip. Don’t follow people around to places like this… Value yourself.”

“…?”

Seeing the girl blink her round eyes at me, I realized my blunder.

What kind of old man meddling is this?

Wanting to hide my embarrassment from the pointless remark, I got up from the table.

“There seem to be plenty of empty rooms, so get some rest. Make sure to lock the door.”

I left before she could say anything.

It’s a relief. If she were an adult, I wouldn’t have been able to let go of my thoughts so easily.

The cold winter air cleared my head.

Seeing the man dozing off in the driver’s seat with the engine running made my heart ache.

He probably has a family. Leaving a warm home behind, what kind of hardship is this? Making a living is so tough.

I opened the passenger door and sat down, making the man jump up.

“S-sorry. I dozed off for a moment.”

“It’s alright. I’m sorry for making you wait so long.”

“Oh no, sir. You should sit comfortably in the back seat.”

“I’m not your boss or anyone special. The back seat is uncomfortable. Let’s just go.”

Silence filled the car for a while after we started. The driver cautiously opened his mouth, seeming uneasy.

“Would you like to listen to the radio, young master?”

“It’s fine. And please, not ‘young master.’ It gives me goosebumps.”

Speaking politely, the driver glanced at me, surprised.

“Do you work in the group’s strategy department?”

“Yes, how did you know?”

“I often talk with your grandfather, the Chairman. So I know the planning department is divided into two parts. One part consists of talented individuals from prestigious universities who formulate the actual group strategy. And…”

Glancing sideways, I saw his hands on the steering wheel trembling slightly.

“The other part is made up of people from less reputable universities, like me, who run errands and clean up the messes for our immature young masters. You must belong to the latter.”

The veins on the back of his hands holding the steering wheel bulged. His tightly closed lips also trembled.

Shame, humiliation. I know that feeling well.

“Hyung-nim, you’re much luckier than those guys who graduated from top universities and just crunch numbers.”

“M-me… ?”

“Think about the Chairman’s age. He’s almost eighty. How much longer will he live? When the Chairman passes away, there will be four people: our three uncles and our aunt. They’ll be salivating to tear Soonyang Group apart. The Vice-chairman will be wielding the layoff frenzy to seize everything.”

His face, devoid of shame or humiliation, was filled with shock.

“At that time, the secrets you know about the family members will be worth a fortune. You’ll make more money in one go than those Ivy League guys in their offices will earn in their entire lives.”

“You… what are you? What are you talking about?”

“Calling me ‘young master’ makes me cringe… but speaking informally makes me angry. Let’s be careful.”

My eyes met his. Did he understand?

“I’m tired, so I’ll get some sleep. Wake me up when we get home. Hyung-nim!”

He didn’t say anything, just increased the car’s speed.

* * *

On January 22, 1997, the presidents of four banks—Korea First Bank, the Korea Development Bank, Choheung Bank, and Korea Exchange Bank, the main creditor banks of Hando Group—spent the entire day persuading Chairman Chung of Hando Group.

“Chairman, at this rate, we will all go down. The government is worried about favoritism with the presidential election coming up.”

“You’ve already failed to cover promissory notes amounting to 15 billion won since the 18th, haven’t you? You’re practically bankrupt! Don’t you understand the reality of the situation?”

“Think about the 850 subcontractors and partner companies. Over a hundred thousand heads of households will be out on the streets.”

“Just give up the management rights of your family, Chairman. Then the Blue House will approve. There will be justification to support Hando. The government also wants to prevent Hando’s bankruptcy. If you give up the management rights, we’ll not only provide emergency funding but also manage the funds jointly as banks.”

Chairman Chung ignored the bank presidents’ earnest pleas, brushing them off as if it were someone else’s problem.

“Korea First Bank lent me 1.12 trillion won, Korea Development Bank 890 billion won, Choheung Bank 500 billion won, and Korea Exchange Bank 450 billion won. Is that correct?”

Despite being the party facing bankruptcy, Chairman Choi looked more relaxed than the bank presidents.

Too Big to Fail. He knew the rule of thumb precisely.

If Hando Group collapsed, the banks would struggle to bear the burden of trillions of won in non-performing loans. Pushing in trillions of won once more was possible, but recovering the lost trillions was not.

Chairman Choi never considered for a second that the banks would choose mutual destruction.

However, Chairman Choi failed to grasp the severity of the situation.

The next day, the 23rd, Hando Steel, which was building a steel mill in Dangjin on the west coast, went under. The decision by the political circles and the banks had beheaded Chairman Choi.

Consequently, Hando Group, ranked 9th in credit management and 14th in assets, with 22 domestic subsidiaries alone, was facing disintegration.

Its main creditor banks were also shaken, and about 70 other financial institutions were at risk.

Now, the predators were starting their power plays, eyeing the mortally wounded prey. The CEOs of the chaebols who gathered under the pretext of an emergency Federation of Korean Industries meeting regarding the Hando crisis quickly folded their hands and left the poker game when they realized that Soonyang and Daehyun, the top two companies in the business world, were coveting Hando.

“I recently bought a closed school to build a training center for the kids working in my factories, you know? And wouldn’t you know it, I struck gold. The trees growing along the walls of the abandoned school were incredibly expensive. They were worth more than double the purchase price of the school.”

Chairman Joo Young-il of Daehyun Group said, fiddling with a cigarette.

The bankrupt Hando Steel and the soon-to-be-bankrupt Hando Construction were no different from abandoned schools. If they wrote off the bonds and bought them at rock-bottom prices, valuable trees would come along.

The prime real estate owned by the two companies. This land was the real treasure.

“Why are you fidgeting with that cigarette so annoyingly? Just smoke it!”

“This is how I succeed at quitting—by enduring with the cigarette in front of me. Chairman Jin hasn’t been smoking for long either, has he? Endure it. The moment you don’t want to smoke even with a cigarette in front of you, that’s when you’ve succeeded in quitting.”

Chairman Joo waved a cigarette in front of Chairman Jin’s eyes. It was a message to back out of the Hando Steel acquisition.

Chairman Jin chuckled and snatched the cigarette, putting it in his mouth.

“Got a light?”

Chairman Joo’s face stiffened as Chairman Jin held out his hand.

“You need to carry a lighter around for the temptation to be stronger. Anyone can resist a half-hearted temptation.”

Chairman Jin gestured to Chief of Staff Lee Hak-jae, who was waiting nearby, and he respectfully handed over a lighter.

Without the slightest hesitation, Chairman Jin lit the cigarette and took a long drag.

The cigarette smoke he hadn’t inhaled in a while made him dizzy, and he leaned his head back against the chair, closing his eyes for a moment.

“Chairman Joo, do you think I quit smoking because it was bad for my health? I quit because old men start to smell stale. Health? If I cared about that, I would have become an athlete, not gone into business.”

Chairman Joo’s eyebrows twitched.

It was Chairman Jin’s declaration that he would not give up on Hando Steel. He was even showing his resolve not to give up the acquisition, even if it harmed Soonyang Group.

“You’ve done the math, haven’t you? You need to offer 1 trillion won and 1 billion dollars just to get a glimpse of the steel mill’s furnace. And Hando Construction, which will follow, will require another trillion won. If Soonyang keeps up with our Daehyun race, it’ll only benefit the banks.”

“If your hands are shaking, you can drop out.”

Chairman Jin sneered, and Chairman Joo bit his lower lip.

“Let’s do a good deed for once, shall we? A strong banking sector is good for the national economy, right?”

No one could beat him at getting under someone’s skin. Not long ago, he’d stirred up trouble with his grandson’s university entrance exam scores, and now he was irritating him with his lavish spending.

Chairman Joo Young-il slyly took the cigarette from between Chairman Jin’s fingers and took a puff. It was an action to show his own willingness to bear the losses.

The fiery gazes of the two men locked in the air.

The goal of acquiring a company that would benefit their groups at a low price was now compounded by pride.

Nothing was more humiliating for a wealthy person than being pushed out of the game due to lack of funds.

Chairman Joo felt like he had a handful of sand in his mouth.

The acquisition price he had thought would be 1 trillion won might double. Or perhaps even more…

* * *

“Chairman, that was a bit much. Chairman Joo will come prepared.”

“Did it look that way?”

“Yes. Seeing him grit his teeth, he’ll probably spend over 2 trillion won.”

“Hahaha. If it’s that guy’s temper, he certainly would.”

Chairman Jin even burst into laughter, seemingly unconcerned by Lee Hak-jae’s worries.

“Now is not the time to laugh. The government is urging the creditor group to mitigate the aftermath of the bankruptcy. The bidding for Hando Steel will start soon. We’ve secured 1 trillion won and 1 billion dollars, but… that’s all we have.”

“What about Daehyun?”

“They received a lot of oil money last year. Since the non-price factors are similar, the one who writes the higher amount wins. We’ll be at a disadvantage in terms of funding.”

Chairman Jin lowered the car window. The freezing cold wind rushed into the car.

“Is there a game with only one rule? There are many rules to a game. Fouls and bad calls are also part of the game.”

“Do you have another way?”

“Once the creditor review committee is formed, arrange a meeting. We should buy dinner for the people who will be working hard.”

Daehyun could also bribe the creditors with money envelopes.

Lee Hak-jae had no idea what Chairman Jin was planning.