Chapter 59: The Art of Negotiation

“Chairman, you must accept this proposal.”

“Ugh.”

The tightly shut mouth and furrowed brow spoke volumes about Chairman Joo’s anger, but the key figures of the group didn’t waver.

They had to prevent the catastrophe of the chairman kicking over the well-prepared table in a fit of temper.

Considering the effort invested in acquiring Ajin Automobile, unity on the fundamental terms was crucial.

The terms included a staggering ₩3.28 trillion write-off for Ajin Automobile’s debt and ₩1.58 trillion for its subsidiaries, with the remaining ₩2.52 trillion converted into equity.

A groundbreaking concession totaling ₩7.38 trillion.

Thinking about the money poured out, the drinks consumed, and the women provided to sway the creditor banks and Ministry of Economy officials to accept these terms gave him a headache.

Furthermore, though no firm commitment was given, the whispered acquisition price was ₩1.2 trillion.

A mere ₩1.2 trillion was the cost to excise all the rot from Ajin Group, apply the medicine to its wounds, wash it clean, and then devour it.

A feast like this wouldn’t come around again.

But if Miracle Investment started meddling with the debt write-off portion, they’d have to start cooking the banquet all over again.

While they could outbid Miracle by another hundred or two billion won for the acquisition price, renegotiating the debt write-off was out of the question.

The people from Daehyun Group were almost grateful for Miracle’s offer to join forces.

“This was a hard-fought negotiation. The debt write-off terms are absolutely non-negotiable.”

Seeing the desperation etched on their faces, Chairman Joo couldn’t simply lose his temper.

“That guy, is he loaded? Does he have enough money to throw around trillions of won?”

“Just as Miracle doesn’t know the full extent of our financial capabilities, we’re finding it difficult to gauge theirs. Isn’t it all American capital? However…”

“However, what?”

“Our US branch’s investigation suggests they have ample cash reserves. They’re rumored to be a major player in Hollywood. Apparently, there isn’t a hit movie made without Miracle’s money involved.”

Chairman Joo’s blood ran cold at the mention of Hollywood movies.

Back in 1993, when director Steven Spielberg’s film ‘Jurassic Park’ was released, President Kim Young-sam emphasized the importance of the film industry, often saying, “The box office revenue of one movie is equivalent to exporting 1.5 million cars.”

Even for someone supposedly uneducated, how could he compare two completely different industries based solely on revenue?

Thanks to that, Daehyun Group, a leading figure in the Korean automotive industry, was branded as a relic of the past, clinging to an outdated business.

“The truly crucial point is this: not a single movie Miracle has invested in has flopped.”

“That’s right. Their investment sense is extraordinary. Someone like that wouldn’t enter a money fight they couldn’t win. As you always say, Chairman, sometimes accepting a helping hand is the best way to avoid losses.”

“A hand extended first…”

Chairman Joo was silent for a while.

His silence, his refusal to shout and berate, served as his acceptance of the alliance proposal.

* * *

Chairman Jin scanned the full-page advertisement in Hanseong Ilbo and put down the newspaper with a satisfied nod.

“The ending is good. It leaves you with a sense of anticipation.”

“Soonyang Planning created it, right?”

“Yes.”

“Chairman Song Hyun-chang is doing a lot of interviews too. Did you arrange that, Grandfather?”

“That’s not it. Chairman Song is taking the initiative himself. Apparently, CEO Oh cracked the whip hard, and Chairman Song is feeling the pressure.”

Grandfather looked at me and smiled.

“Joo Young-il came by?”

“Yes. He offered compensation if we backed out of the acquisition battle.”

“Hahaha. That old man is in a hurry, but now someone’s trying to trip him up. He even made the effort to visit. So, what did he say?”

“He suggested we compete with dignity based solely on the acquisition price. And that we should take full advantage of the government’s incentives. There’s no need to needlessly cut into our own flesh.”

“And? What did you say?”

“I told him not to be cheeky. And that we should have a proper showdown…”

“Kehehe. He seems quite riled up.”

Grandfather kept chuckling, looking like he was enjoying a very amusing game.

“Give me a hint. How do you think Chairman Joo will react?”

“You already have an idea. You’ve probably considered whether I would reject that proposal, right?”

“Yes.”

“So? What’s the answer?”

“He’ll accept. The debt write-off amount is already a fixed factor. He wouldn’t want to introduce new variables.”

“You got it right. The most frightening thing for someone in business is variables. When I was building the Asan Bay project, the unpredictable weather on the west coast endlessly delayed the construction. A project I wanted to finish quickly dragged on, and the money bleeding out daily was all debt, driving me crazy.”

There it was again. Memories of the past.

Wouldn’t it be easier if he just stated the key points? But this man was old.

He spent more than half of his present living in his memories.

At times like these, the best filial duty was to listen silently.

“Unpredictable weather, that was an unforeseen variable. I imagined how wonderful it would be if I could buy the weather with money. It’s the same thing. Chairman Joo probably wants to buy out the variables with money right now. But why refuse when he can eliminate half the variables without spending a dime?”

Got it. The two chairmen were alike.

Now, all that was left was to wait for Chairman Joo to agree to the alliance.

“But Do-jun.”

“Yes.”

“Now, the cards we… no, you hold have all been played. Chairman Joo hasn’t even played any of his cards yet. He’ll start a major counteroffensive.”

“Through the media, I presume?”

Grandfather nodded.

“Not just the media, but he’ll also be persuading the creditor banks and the acquisition review board. The government, the National Assembly, and the Blue House folks that Daehyun Group has been taking care of will also exert pressure.”

There was something suspicious about Grandfather’s tone.

“It sounds like there won’t be any more help?”

“I can’t provide any even if I wanted to.”

“Pardon? What does that…”

“I prevented Chairman Song Hyun-chang’s arrest. That alone made them suspect I had my eye on Ajin Automobile… Since Song’s arrest would have been more beneficial for the acquisition, they’ve quieted down. They just thought it was an act of sympathy.”

“I don’t think that’s the whole story.”

“Can I really put government officials in a difficult position? They’ve been working like my hands and feet. If I pull them with my right hand and Chairman Joo pulls them with his left? They’ll be torn apart.”

His expression didn’t seem regretful at all. The sly old man clearly had something up his sleeve, but I couldn’t figure it out.

“I can’t just tear apart friends I’ve nurtured with my own money.”

He was the one who most wanted to prevent Ajin Automobile and Daehyun Automobile from merging. When the time comes, he’d interfere even if I tried to stop him, so there was no need to plead.

“Understood. I’ll work things out with CEO Oh Se-hyun.”

Grandfather looked surprised that I wasn’t begging for help but quickly recovered his smile.

“You’re close with Oh Se-hyun, aren’t you?”

“Yes.”

“What do you think of him? Do you believe he’s trustworthy?”

“So far, yes. Father also said he’s someone he can trust. Despite working with money, he’s not the type to betray someone for it.”

“Is that so?”

A sly smile spread across his face.

What was this old man thinking now?

“Do-jun, there are two types of people you need to keep close. One is someone like Oh Se-hyun, someone you can trust and delegate tasks to.”

“And the other?”

“Someone willing to sacrifice themselves for you.”

Sacrifice…

What kind of situation would require someone to sacrifice themselves for me?

“Those kinds of people will gather around you when you shine. There’s no need to deliberately seek them out.”

Seeing me deep in thought, Grandfather stopped smiling and stood up.

“Let’s go. It’s almost time for the guests to arrive. Oh, and change your clothes. I’ve had something prepared upstairs.”

“Don’t tell me it’s a tuxedo? Hehe.”

* * *

The engagement ceremony was held in the Yeongbin Gwan of Grandfather’s mansion. Most of my cousins were studying abroad, so there weren’t many of us, but the other side’s family had gathered in considerable numbers.

Perhaps due to Grandfather’s request to avoid a boisterous affair, there were no reporters from Hanseong Ilbo, only a couple of photographers busily snapping photos with their flashes.

Jin Young-jun looked quite affectionate with his future wife. As far as I knew, their second meeting was the formal meeting between the families, and they’d only met a couple of times after that. They were truly peculiar.

Does money make you fall in love easily?

The betrothed couple mingled with the engagement guests, and the Hanseong Ilbo family members bowed repeatedly, trying to make a good impression on Jin Young-jun, the likely successor.

The biggest advertiser and the media outlet that lived off those advertisements.

The hierarchy between the two families was not based on age or kinship but on a perfect ‘Kap and Eul’ relationship.

“Oh my! He’s even more handsome in person! They say Young-jun is the most handsome man in your family…”

“Hyung-nim, congratulations on your engagement.”

I bowed to the couple as they approached.

“Do-jun, you haven’t met her yet, have you? Introduce yourself.”

“Congratulations, Hyung-soo-nim. I’m Jin Do-jun.”

“Thank you, Do-jun Doryeon-nim.”

There wasn’t much else to say. I wished they would leave to greet others quickly, but damn it.

In the distance, Vice-chairman Jin Young-ki raised his hand, calling for Jin Young-jun.

“So-young, excuse me for a moment. Do-jun, why don’t you chat with Hyung-soo-nim? I’ll be right back.”

It was an awkward situation, but wait?

This woman was surprisingly affable, contrary to her fierce looks.

“Do-jun Doryeon-nim seems like the ideal man for every woman.”

“Me?”

“Of course. Tall and handsome, with a brain that puts you in the top 0.1%. Plus, you’re the coveted youngest son of a chaebol family.”

“Is being the youngest a coveted position?”

“Absolutely. You won’t inherit the group, you don’t need to participate in management, and you can enjoy life with the money you’re given.”

“Is that so? It sounds plausible when you put it that way.”

“Do-jun Doryeon-nim can pursue whatever you want, just like your uncle who works in the movie business, without worrying about group management. Isn’t that great?”

For some reason, I felt uneasy.

This woman had a bright smile, but it didn’t seem genuine.

“The problem would be money, wouldn’t it? I wonder if there will be any left by the time it gets to my turn. Haha.”

“Oh, come on. The elders in the family all say so. That Chairman Jin favors you the most among his grandsons. He’ll give you plenty.”

“Really? Grandfather gives his grandsons some shares and money when they become adults, but all I got was a sports car. Even though I don’t have a license.”

“He must be planning to give you something bigger later. And I heard you’re a model student, so you hardly spend any money…”

“Oh, who said that? It’s not that I don’t spend, it’s that I don’t have any to spend.”

If she knew how I spent my money, she wouldn’t be standing here. This woman.

Her lips were smiling, but her eyes weren’t. She was probing.

It was understandable to some extent. She was going to be the eldest daughter-in-law of Soonyang Group, after all.

She probably couldn’t wait to get her hands on the key to the vault and act as the mistress of the house.

I could understand her desire to hoard every grain of rice in the vault, but she was too young. Twenty-six, wasn’t she?

She needed to learn the patience to hide her greed and conceal her claws, but as the princess of a major media conglomerate, she probably never had the chance.

“Is that so? Then I’ll take care of your allowance, Doryeon-nim. And if I mention it to Young-jun, your pockets will get deeper. Hoho.”

“Really? Then that’s a huge thank you. I’ll have to make a good impression on Hyung-soo-nim. Haha.”

Forcing a fake smile was unbearable.

“Hyung-soo-nim, excuse me for a moment. I need to use the restroom.”

I gave a slight bow, and my future sister-in-law smiled and nodded in acknowledgment.

Stepping away made my uncomfortable stomach feel better.

Hong So-young muttered, watching Jin Do-jun’s retreating figure.

“That kid is something else. Someone who frequents the Yeouido stock market every day is claiming he’s broke?”