Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 100

100. 30th. Panama’s Fermented Duck Egg (2)

The red hue faded from Park Byung-joon’s face as he took several rough breaths. He lowered his head, making a groaning sound.

After a long moment, Park Byung-joon raised his head and picked up the receiver. Even though he was branded a traitor, there was only one person who could save him.

[This is Jang Ho-min, Vice Chairman of Shinseong Group.]

“This is Park Byung-joon, Vice Chairman. How have you been?”

[Park Byung-joon? I don’t know anyone by that name.]

Park Byung-joon’s expression hardened at Jang Ho-min’s sarcastic tone. He was prepared for it, but to be treated coldly right from the start?

However, Park Byung-joon spoke in the most polite voice possible, as he desperately wanted to escape this wretched Panama and return to headquarters.

“I’m sorry, Vice Chairman. I was out of my mind back then. You were the one who should have led Shinseong…”

[Spare me the flattery. If President Park hadn’t turned his back on my brother, the construction division of Shinseong Corporation would have been mine. How can you say such things?]

Even as Jang Ho-min’s voice dripped with murderous intent, Park Byung-joon couldn’t say a word. Wasn’t it he who had foolishly handed over the construction division of Shinseong Corporation, one of the group’s two major construction companies, to Jang Ho-geon’s enticing offers?

“I deserve to die, Vice Chairman! Still, wasn’t I the one who served you the most when the late Chairman was alive?”

Park Byung-joon repeatedly appealed, mentioning his past support for Jang Ho-min, which he had since abandoned.

“Shinseong Oil’s Daesan plant, which everyone in the group opposed, didn’t I push for it and get the late Chairman’s approval? And what about Shinseong Life’s shares?”

Shinseong Oil, the parent company of Shinseong Group’s petrochemical affiliates.

Hundred percent of that company’s shares were held by Shinseong Heavy Industries, controlled by Jang Ho-min, who had strongly advocated for the establishment of Shinseong Oil.

In addition, Park Byung-joon was the one who influenced the dying Chairman Jang Byung-ho to amend his will, dividing all of Shinseong Life’s shares with 50% to Jang Ho-geon and 25% each to Jang Ho-kyung and Jang Ho-min.

[I know, Brother. Why didn’t you support me and supported my brother instead?]

Unable to ignore that fact, Jang Ho-min called Park Byung-joon “Brother” as he had before Park Byung-joon turned his back on him.

“I’m sorry, Vice Chairman. I was blind. Please forgive me.”

[It’s too late. Even if I wanted to accept you, there’s no place for you. And what about the bonds tied to Electronics and Corporation?]

While listening to Jang Ho-min’s regretful voice, the word “bonds” was etched in Park Byung-joon’s mind. He cautiously asked Jang Ho-min.

“If the bonds are resolved, will you save me?”

[Is there a way?]

“Yes, Vice Chairman. I’ve built up connections while working on construction projects in Panama…”

Jang Ho-min’s voice brightened upon hearing about the Panama copper mine from Park Byung-joon.

[Is that true?]

“Yes, Vice Chairman! If the UN guys rushed in to explore, there’s definitely potential!”

Park Byung-joon put strength into his voice as if he would cling to Jang Ho-min’s pant leg if he were in front of him.

“I don’t even want a president position. I would be grateful if you just gave me an advisory position, Vice Chairman.”

[Since you’re helping me like this, I can’t ignore you…]

Park Byung-joon swallowed hard as Jang Ho-min trailed off. When Park Byung-joon’s mouth turned as dry as a desert, Jang Ho-min’s voice continued.

[Alright. Send me the data first. As soon as I receive the data, I’ll prepare to send the working-level staff, haha.]

“Thank you, Vice Chairman!”

Park Byung-joon conveyed his gratitude in a bright voice, as if Jang Ho-min was his savior.

***

After the call, Jang Ho-min slammed the receiver down with a clatter.

“You pathetic bastard, clinging to me now?”

Jang Ho-min wiped the smile off his face and spat out coldly, as if he were a completely different person from just now.

Jang Ho-min had no intention of forgiving Park Byung-joon. It was because of the late Chairman Jang Byung-ho’s teaching that a man who betrays once will continue to betray.

Nevertheless, the reason he played along with Park Byung-joon was that he knew Park Byung-joon’s desires well.

The desire to return to headquarters no matter what… He had patiently listened to find out what was supporting that desire, and he had unexpectedly gained a harvest.

Jang Ho-min held up the paper he had taken notes on while listening to Park Byung-joon’s story, a sneer on his face.

“Cobre Panama… About 20 kilometers from the Caribbean Sea…”

Jang Ho-min had no interest in mine development. He was only interested in heavy industry, construction, and petrochemicals, where visible results came out as he made them. Mine development, which was either a hit or a miss, was always unsettling.

However, he was uneasy about handing it over to Jang Ho-geon. He didn’t know how much of the bonds he would be able to write off, and if this mine hit the jackpot, he felt like he would die of envy.

“How should I use this…”

After much deliberation, Jang Ho-min called his chief of staff.

“All members of the Dangjin Project Team to the conference room.”

With that brief instruction, Jang Ho-min put down the receiver, took the note, and entered the conference room. A few minutes later, about ten men trooped in.

“What do you think will happen to Hango Steel?”

Jang Ho-min wanted a steel mill at all costs.

Looking at the demand for steel in the shipbuilding and other heavy industries, as well as the growth of China, where he frequently traveled on business due to the heavy equipment business, it seemed that he could sell as much molten iron as he could produce.

In the end, the Dangjin Project was a plan to acquire Hango Steel for Jang Ho-min’s entry into the steel industry. It was also a preparation to clash with Jang Ho-geon, who was setting up his ranks with a super-gap strategy [a strategy to create an overwhelming advantage].

At Jang Ho-min’s question, the executive sitting closest opened his mouth with a stiff expression.

“It’s serious. We’ve already invested 4.5 trillion won plus 1.2 billion dollars, but we haven’t even been able to raise a single blast furnace?”

“That’s right, Vice Chairman. Everyone knows that Hango Group’s affiliates have embezzled all of the steel mill’s construction costs, but they’re keeping it quiet.”

“It’s because Jung Taek-joo and the bank presidents who are in cahoots with the Little President are watching out for them. It would be strange if they didn’t collapse even if they turned the promissory notes, Vice Chairman.”

Jang Ho-min did not lose his smile despite the executives’ scathing reports. The more Hango Group rotted and festered, the closer his dream would come to reality, wouldn’t it?

“The deadline is by the end of the year?”

“Yes. I contacted the bank executives, and they said that if the promissory note redemption is not resolved by the end of the year, they will turn the promissory notes.”

After confirming the information gathered by the executives, Jang Ho-min asked about other preparations.

“How many guys will be bidding?”

“Taehyun Group is building a steel mill in Hadong. Daeju Group only insists on using products from Daehan Steel, so there’s no reason for them to be greedy.”

Jang Ho-min was unable to relax even after confirming that the possibility of the two largest competitors entering the race was close to zero.

“What about in terms of financial resources?”

“Chairman Jang Ho-geon is focusing on the Yeongdeungpo redevelopment, Shinseong Electronics, and Shinseong Corporation’s automobile business, and GK Group’s group characteristics are not compatible with steel mills, and the separation of the Oh and Hae families is in full swing.”

Only after hearing that did Jang Ho-min confirm that there were no competitors and move on to the core issue.

“What about our available funds?”

“Including retained cash and bank credit, we can secure up to 1 trillion won plus 200 million dollars at any time. But we need a loan for the remaining 1 billion dollars.”

Jang Ho-min’s eyes narrowed at the gray report that only incomplete preparations had been made. A groaning sound escaped his mouth.

Jang Ho-min looked around at the executives who were focusing their attention on him and opened his mouth.

“Let’s talk after looking at this first.”

Jang Ho-min placed the note he had kept in his pocket on the table. The executives’ mouths dropped open as they read the contents of the Panama copper mine written on the paper.

“Vice Chairman?”

“Park Byung-joon in Panama offered it to me to save his life. He was so desperate that he handed over the data first, hehe.”

Unlike Jang Ho-min, who was laughing softly, the executives’ eyes flashed with anger at the name Park Byung-joon. Wasn’t he a traitor who had sided with Jang Ho-geon during the Shinseong Group’s inheritance dispute, regardless of seniority?

“Don’t worry. I have no intention of helping him.”

Jang Ho-min waved his hand at the executives, then revealed his true intentions to them, who were relieved.

“It would be good to use this well… Is there a way?”

Jang Ho-min was throwing a test to those gathered here.

A test to find the closest aide who could best understand his intentions and come up with an answer. The first to challenge the test was the youngest executive.

“How about approaching Vice Chairman Lee Myung-jin of Haedong Group?”

“Lee Myung-jin?”

As a line formed on Jang Ho-min’s forehead, the youngest executive who had spoken quickly opened his mouth.

“Vice Chairman Lee Myung-jin is also a potential competitor, but he is a customer who supplies us with steel products and cement. If we cut off the deal, the damage will be significant, Vice Chairman.”

Lee Myung-jin and Jang Ho-min were friends from college and had a relationship as a customer and supplier. Haedong Steel and Haedong Cement sold a significant amount of steel and cement to Shinseong.

The youngest executive emphasized Jang Ho-min’s superior position and continued his opinion.

“In addition, Haedong Group is currently focusing all its efforts on resource development. The remaining affiliates are shrinking back, but it is estimated that they are preparing to enter the Australian mine development in the future.”

“So, what’s the point?”

“I think we should hand over the Panama copper mine data to Haedong Group and borrow dollars from Standard Capital.”

Jang Ho-min tilted his head and narrowed his brows at the suggestion made by the person in charge.

“How does that unfold?”

“I had a drink with a director of the commercial division of Haedong Corporation, and he said that Lee Sung-min was the reason why the bonds issued this time were sold to Standard.”

“Lee Sung-min? That eccentric guy?”

Jang Ho-min frowned at the name Lee Sung-min.

Wasn’t he the most eccentric guy in Haedong Group, who was a maverick in the business world? He had achieved enough achievements, but he was living a social life outside the group.

“Yes. Chairman Lee Dae-soo sold the bonds to that side to take care of his eldest grandson’s performance.”

“I see.”

Seeing the corners of Jang Ho-min’s mouth twitch subtly, the youngest executive unfolded his thoughts to get ahead of his seniors.

“So, we should ask Vice Chairman Lee Myung-jin to arrange loan negotiations with Standard at any time, on the condition that we hand over the mine data if the negotiations are successful.”

Jang Ho-min held up the note and asked, with an answer that was plausible but had loopholes.

“Do you think this can be used as collateral for 1 billion dollars?”

“Of course, collateral must be provided separately. I’m sorry, Vice Chairman.”

“Collateral…”

Jang Ho-min looked at the executive who lowered his head and made his trailing words clear.

“What do you think will happen to the petrochemical sector if we continue like this?”

The executives swallowed hard. They knew what it meant that petrochemicals came out after the collateral story.

The executives’ gazes were all focused on the youngest executive. He opened his mouth at the implicit pressure to clean up the mess he had made.

“I can’t guarantee it. We are significantly behind SG, GK, and Miryong in terms of refining capacity.”

“In addition, Taehyun is similar to us, and Hanho Oil is not even worth mentioning, so we are practically last. Fine chemicals and petrochemicals are also a problem.”

Jang Ho-min sighed at the pessimistic but realistic answer. There were only six oil companies in South Korea, which was only the size of his palm, so how could he make a profit? He had enthusiastically pushed for it a long time ago, but Jang Ho-min could only sigh whenever he looked at the petrochemical sector.

“Let’s put all of Shinseong Oil’s shares and the shares after acquiring Hango Steel as collateral. All of fine chemicals and petrochemicals as well.”

Jang Ho-min decided to abandon the burdensome thing and choose the sure thing.

***

About 30 minutes later.

Lee Myung-jin was receiving Jang Ho-min’s call with a stiff expression.

“You’re asking me to create a place for you to borrow money by selling out my only nephew?”

[Calm down and listen, Myung-jin. Panama copper mine, the quality is good and it’s only 20 kilometers from the coast? If you make a place, this…]

Lee Myung-jin cut off Jang Ho-min’s words because they were no longer worth listening to, even though he was a customer and a friend he had known for a long time.

“Are you saying that now! Don’t you know about the relationship between our late brother and me? Are you threatening us by saying that your company sells our products?”

He didn’t need the Panama copper mine data. The information that Haedong Corporation’s New York branch had received through Gong Seong-pil was enough.

Furthermore, he desperately wanted to refuse when he thought of his nephew, who had mortgaged himself to his own company for the sake of his family, and his late brother and sister-in-law.

Nevertheless, Lee Myung-jin could not refuse this slick guy’s request outright. It was because of the steel and cement that Jang Ho-min’s Shinseong Heavy Industries and Shinseong Construction bought from Haedong Steel and Haedong Cement.

Lee Myung-jin was so disgusted with himself that he was raising his voice but conflicted inside. Jang Ho-min’s nonchalant voice was heard in Lee Myung-jin’s ear, who was breathing roughly.

[What threat? I’ll give you a lot of interest, so just make a place for me. Isn’t it taking care of your nephew’s performance?]

Lee Myung-jin wanted to shout at him not to be ridiculous. If Hango Group and Ado Group collapsed, a catastrophe would begin, and it would be fortunate if he didn’t get cursed at for not being able to recover even the principal, let alone improve performance.

Jang Ho-min threw the hidden card to Lee Myung-jin, who was huffing and puffing because it was a top secret that only the group’s top executives shared.

[The collateral is all of Shinseong Oil’s shares held by me and Shinseong Heavy Industries, and all of Shinseong Precision Chemicals and Shinseong Petrochemicals’ shares. How is it?]

Lee Myung-jin’s eyes widened at Jang Ho-min’s words.

Shinseong Oil is an unlisted company in which Jang Ho-min and Shinseong Heavy Industries own all the shares. Jang Ho-min was offering 100 percent of Shinseong Precision Chemicals and Shinseong Petrochemicals’ shares as collateral, so he couldn’t help but be surprised.

“You’re going to throw it all away?”

[I don’t enjoy seeing the oil business thrive. But the collateral value is quite high, so I’m offering it.]

Whether Jang Ho-min was talking or not, Lee Myung-jin was diligently racking his brain. He couldn’t make a decision on his own, but it seemed like a good picture would come out.

“I’ll contact you, but don’t expect too much.”

[Thank you for saying that, hehe.]

After the call, Lee Myung-jin sighed.

“Please forgive me, Brother. Sister-in-law.”

Lee Myung-jin asked his late brother and sister-in-law for forgiveness and left the office.

***

Meanwhile, Park Tae-jin, Seon Hae-cheol, and I were looking at the data sent by Haedong Corporation.

“Cobre Panama… I think it’s worth a try.”

“Even though it’s an estimate, the reserves and purity are good. Environmental impact assessment is a concern, but… will it be okay?”

Seon Hae-cheol’s concern was unfounded, but I shrugged my shoulders to match the mood.

“We can’t help it. Even if we only get the development rights, it will be a lot of money later.”

The Cobre Panama copper mine in my memory is a mine that took quite a long time for environmental impact assessment. It wouldn’t be bad to acquire it, because it would help solve Haedong Construction’s work when the construction industry is facing difficulties later.

“Hmph.”

While looking at the documents with Seon Hae-cheol, I snorted without realizing it. Park Tae-jin smiled at my appearance.

“You seem to be in a good mood.”

“Of course I’m in a good mood, Brother. I’m protecting my great-grandfather’s legacy and growing the company.”

Looking at my past life and now, I wondered if my life was a modern prodigal son story. Didn’t the guy who abandoned his family come back to his family? It’s different in that he’s reviving his family.

While humming happily and looking at the data, an employee came in after a knock.

“What’s going on?”

“Vice Chairman Lee Myung-jin of Haedong Group has arrived.”