Chapter 69: The Owner of Miracle

Lee Hak-jae, the chief of staff, tilted his head, puzzled by Chairman Jin’s smile.

“Chairman, Oh Se-hyun isn’t someone you can take lightly. He understands the value of the dollars his company holds better than anyone.”

“Chief Lee, is Oh Se-hyun the owner?”

“Pardon?”

“Didn’t I tell you? I’m close with the o-w-n-e-r. Oh Se-hyun is just a steward.”

A steward is merely an agent of the landowner. Naturally, the landowner is someone else. The shareholders and investors are the true owners.

“Chairman, could it be…?”

Though no one dared to voice it, everyone in the study wore expressions that suggested they wanted to confirm if Miracle was Chairman Jin’s company.

“What’s with those looks? Don’t get the wrong idea. It’s not my money. How could I possibly gather that many dollars? My pockets are empty because you lot aren’t working hard enough. Isn’t that right?”

As everyone awkwardly hesitated whether to laugh or not, Chairman Jin slammed his hand on the desk.

“Enough. Everyone, get out. Don’t miss a single one of my instructions and make sure to follow them thoroughly.”

Chief of Staff Lee Hak-jae briefly met the Chairman’s gaze, but a subtle nod confirmed that he was included.

As Lee Hak-jae was the last to leave the study, he caught one last glimpse of Chairman Jin’s unwavering smile.

# # #

The atmosphere felt different.

If this was a crisis meeting, their faces should be frozen with worry, but they looked rather bright.

Could it be because Soonyang Group, the number one conglomerate, had such robust financial resources?

After confirming that Chief of Staff Lee Hak-jae had left, I entered the study.

“Oh, the owner has arrived? Heh heh.”

“Excuse me?”

The owner? Me?

Could it be that they appointed me as the successor during today’s emergency meeting?

It was highly unlikely, but the mere thought made my heart flutter.

“Aren’t you, my grandson, the owner of Miracle? Today, we aren’t meeting as grandfather and grandson. Let’s have an important discussion between two owners.”

“What are you suddenly saying? It’s unsettling…”

“Why the theatrics? It’s written all over your face. You’re thrilled to bits.”

It wasn’t my expression, but my grandfather’s that was like that.

Negotiation is the art of tension and anxiety.

The joy belongs to the one who holds a superior position, where there’s no room for negotiation.

It’s undeniable that neither Grandpa nor I are in a completely dominant position, which means we both have hidden cards… I know my card, but I don’t know Grandpa’s.

What could it be? The foreign exchange crisis is approaching rapidly, so why is he so relaxed?

“So, what’s this important matter? Are you going to discuss the stake ratio for the merger of the two automobile companies?”

“Ah, there was that too. Let’s do that later. There’s something more important.”

What could be more important? Could it really be the succession of Soonyang Group?

But my wishful thinking was short-lived.

“Have you prepared the acquisition funds for Ajin Group?”

“What’s there to prepare? I just need to transfer from my overseas account to my domestic account.”

“In dollars, of course?”

I didn’t miss the glint in Grandpa’s eyes when he mentioned dollars.

I see.

Securing dollars in preparation for the foreign exchange crisis.

For Soonyang Group and my grandfather, this was the most pressing issue.

“Yes. It’s in a US bank, so it’s in dollars.”

“I’ll exchange that for you. 1.2 trillion won. Right?”

“Yes.”

“The current exchange rate is around 1,200 won, so let’s see… exactly 1 billion dollars?”

“Yes, that’s correct.”

“Let’s transfer it tomorrow then.”

“I’d rather not.”

“What?”

“It’s a hassle. I can just give it to the creditor banks. Why go through all the trouble of moving it around?”

My grandfather began to stare at my smiling face, looking dumbfounded.

“Are you perhaps…?”

“Yes, I have eyes and ears. The dollar is still going up. Either way, the creditor banks will only sign the acquisition approval after the merger of Soonyang and Ajin Automobile is finalized. The payment will be made after that. From my perspective, it’s more profitable to pay later.”

The old man’s surprised look was almost cute, but his life experiences were different. He quickly regained his composure and even showed a faint smile.

“Indeed. That’s my grandson. Ah, now things are getting interesting. Heh heh.”

He buys himself time to think by laughing. That sly old fox!

And then comes the offer.

“I’ll give you 1,500 won per dollar. How about it?”

“You can do better than that.”

“You’re like a robber. Fine, 1,600 won.”

“Not even close.”

“You rascal. The dollars you’ve gathered, weren’t they bought with the money from selling the ranch I bought for you? Have you forgotten that?”

“That was a transaction. Throughout my childhood, I studied hard and got perfect scores in all subjects, bringing you joy, and in return, I received the ranch. I believe you spent tens of millions of won to purchase the ranch, but if you bought that much joy with tens of millions of won, it was a fair deal. To you, tens of millions of won is like a few bucks to an average person, isn’t it?”

“Hah! You truly are a ruthless one. You remember all that?”

Grandfather shook his head.

“You’re the one who brought up events from ten years ago.”

“I feel like I brought this on myself… Alright. How much should I give you? You tell me.”

“You’re trying to buy dollars, which will be more precious than gold, with won, which will become just scraps of paper. The scales aren’t balanced. Put something else on the scale.”

“What? Scraps of paper?”

The faint smile that had never left my grandfather’s face vanished.

“How much do you expect the exchange rate to jump that you call it scraps of paper?”

“Isn’t the reason you’re asking me this because you can’t get your hands on dollars? If you can’t buy it even with money, then that money is just paper. Won that can’t fulfill its role—isn’t that just paper?”

Grandfather couldn’t loosen his expression and started tapping the desk.

Was I too harsh?

Feeling my grandfather’s worry, my resolve weakened.

Should I provide some dollar support at a reasonable level?

No, no… what am I thinking?

I can’t throw away this opportunity, which might never come again, for the sake of some familial affection.

I gritted my teeth.

Finally, my grandfather spoke quietly.

“How did you know there’s a dollar shortage in this country?”

“The media.”

“What? The media?”

“Yes. All sorts of warning signs are pouring out from the press. Anyone with a bit of sense would be trying to prepare… though they probably know it’s already too late.”

“The media likes sensationalism. There’s a lot of exaggeration.”

Even while feeling the risks firsthand, the fact that he’s saying this means he wants to know what’s in my head.

“Grandfather, the truth is… like a collection of poems.”

“A collection of poems?”

“Yes. New poetry collections are always being published, but most people don’t read them. Yet, many poets have won the Nobel Prize in Literature.”

I had no choice but to answer like a Zen riddle. And older people tend to like these kinds of answers.

“That’s right. The truth has power, but most people either can’t read it or ignore it.”

Grandfather nodded, his smile returning.

“Alright. So, what should I put on the scale to balance it?”

I didn’t make the foolish mistake of answering first. After all, it’s Soonyang Group that’s drowning, and the life jacket is in my hands.

When the water rises above the chest, reaching just below the nose, when they feel enough fear, and when they start throwing gold nuggets from their pockets, that’s when I’ll hand over the life jacket.

“Let’s put the merger ratio negotiations on the table. Shall we settle it in one go?”

“Merger ratio?”

He tilted his head, perhaps not immediately understanding the two meanings contained within those words.

I didn’t add any explanation. He’s someone who will understand the true meaning soon enough.

“Oh, you… you sly dog! You’ve got a dark heart!”

It was a moment when the nickname ‘Iron Face’ seemed entirely inappropriate.

All sorts of emotions that couldn’t be put into words flashed across his face.

When merging, load Soonyang Group’s shares into Soonyang Motors and make the merger ratio favorable to me.

He must have understood these two points precisely. Otherwise, he wouldn’t have used the expression ‘dark heart’.

“It’s not a dark heart; I just think it’s a reasonable demand to bring to the negotiation table.”

“You wily one, your words are as smooth as silk, but it’s greed, pure and simple.”

By laying bare the essence hidden in my words, any unnecessary excuses became pointless.

“Where in this world is there a person without greed? Satisfying other people’s greed while fulfilling my own is what business is all about, isn’t it?”

“Oho!”

“And since greed is something you’ll get criticized for anyway, I might as well be really greedy.”

Grandfather’s lips twitched.

What words would come out?

“You’re a filial son, no, a filial grandson. Heh heh.”

“Of course. Haven’t I only ever brought you joy? When I was young, I made you happy with my studies, and now that I’m older, I’ve even prepared the necessary funds. It’s hard to find a grandson like me anywhere else.”

I spoke with a bit of playful slyness to try and shift the atmosphere, but grandfather actually wiped away his smile.

“That’s true, but you’ve given me something even bigger.”

“…?”

“From the moment Soonyang had subsidiaries and became a group, no one dared to oppose me. They all bowed and scraped, trying to take what was mine. I couldn’t find anyone who thoroughly prepared and then came at me with clenched fists, determined to take what was mine.”

Could it be?

Is his fighting spirit reigniting at over seventy years old?

And against his own grandson?

“I might generously share what’s mine, but I won’t let anyone take it from me.”

“Grandfather, surely this ‘something bigger’… it’s not that, is it?”

“That’s right. I’m thinking of rekindling a dying ember. Let’s have a go. Let’s see who wins.”

“Grandfather! I’m your grandson by blood!”

“That’s what makes it even more interesting, isn’t it? A fight between grandfather and grandson. Saying it out loud makes me feel a bit awkward… but what does it matter? It’s fun. Ehehehe.”

Whether it was a joke or not, the days of him generously giving things away were over. Though I wasn’t really expecting that level of generosity anyway.

“Alright, owner with a lot of dollars. I’ll make the first offer.”

“…Yes.”

I tried to put on the most dejected expression possible. Even a grandson’s sad face can be a lethal weapon against a grandfather.

“For the merger ratio, I’ll decide which subsidiaries of Soonyang Motors will be included, and you’ll just accept it. It’s possible that what I give you might be far more than what you’d gain by fighting. Aren’t I your grandfather? There’s no such thing as a stingy grandfather to his grandson. What do you say?”

Damn it, this old man doesn’t have any lethal weaknesses.

“As you said, Grandfather, I’m a filial grandson.”

“Does that mean you accept my offer?”

“A filial grandson doesn’t take away his grandfather’s joy.”

A broad smile bloomed on Grandfather’s face.

“That’s right. A man who surrenders without even fighting isn’t a man. It’s only natural to reject the first offer.”

“Do you have a second offer?”

“I do, but it’s not an offer. Usually, we call this a threat. Once you receive this threat, you’ll regret rejecting my first offer.”

I swallowed hard. What kind of threat could it be?

There’s nothing I can be threatened with yet.

“Since you rejected my offer, the merger between Soonyang Motors and Ajin Automobile will not happen. Tomorrow morning, President Jo Dae-ho will hold a press conference. He’ll say that the merger has fallen through due to unreasonable demands from Miracle, the intended acquirer of Ajin Group. And he’ll apologize to the public for causing concern. Something like that?”

This old man still doesn’t grasp the magnitude of the foreign exchange crisis.

It’s not just companies that will be clinging to my trouser legs. Banks will be too.

Is he too confident in the ‘too big to fail’ concept? Does he believe that banks are safe?

The bankruptcy of Korea Securities, a financial institution, should be enough to make him realize what that means.

My tension completely dissipated.

“That’s a rather weak threat, don’t you think?”

Now it’s my turn to enjoy Grandfather’s bewildered expression.