Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 201

201. 58th. Because I Can Handle It (1)

Now that I had power, I wanted to use it to manage what I could. So, that day, I immediately flew to New York with Park Tae-jin and Seon Hae-cheol—the Claire family representatives—and headed to Henry’s mansion.

“Welcome, Mr. Lee. The master and Mr. Rockefeller are waiting.”

Guided by the butler, we went to the drawing room. I told Henry and Isaac about the acquisition of Taehyun Electronics, that I had become Myung Seon-woo’s consultant, and that I wanted to reshape Myung Seon-woo’s North Korean business according to my plan.

“…So, I need your help. Please.”

As I bowed my head, concluding my request to bolster my plan, I heard Isaac’s smooth voice.

“Speak freely, Johnny. Aren’t we friends? Haha.”

“Isaac is right. We’re not strangers, haha.”

Regardless of age, having companions and reliable friends is a true blessing. I had helped them too, but I was genuinely grateful to Henry and Isaac.

“I would like Chase Manhattan and Triumph Capital to jointly establish a bank in the Gaeseong Industrial Complex [a special economic zone in North Korea]. It would be even better if you could influence the American telecommunications companies where you are major shareholders to connect communication lines to Gaeseong.”

If two companies representing Wall Street in the United States establish a bank in North Korea and an American telecommunications company lays a communication network, even the unpredictable Kim Jong-il wouldn’t dare to abscond with the money. He wouldn’t want to see a US Navy carrier strike group sailing into the West Sea, would he?

Of course, I wasn’t just thinking of taking without giving.

“In return, I will give you 20 percent each, a total of 40 percent, of the shares of the electronics assembly plant, the compact car assembly plant, and the semiconductor plant that will handle recycling defective wafers in the Gaeseong Industrial Complex.”

Even in a normal country, these are businesses that can generate substantial profits by leveraging North Korea’s low labor costs and prices. Henry and Isaac, being American citizens, nodded, understanding that there would be no risk of industrial technology leakage since the factory would cease operations if the supply of parts was cut off.

“Then how will the remaining 60 percent be divided?”

“Hae Dong Group has 45 percent, and Chairman Myung Seon-woo’s Taehyun Group affiliates have a total of 15 percent. The civil engineering work in the Gaeseong Industrial Complex alone will be a huge windfall, so they won’t be able to refuse. In addition, negotiations with North Korea will involve offering excess production incentives on bank business deposits…”

Henry asked me, as I revealed a plan to increase productivity and distribute profits to stakeholders accordingly.

“Still, Washington D.C. is a concern. What are you going to do?”

I didn’t detect any seriousness on Henry’s face. Isaac was smiling, so it was clear he already knew and was just asking.

“There are plenty of political justifications. It’s about introducing capitalism into North Korea to encourage a smooth transition of the system and to curb the growth of China’s various high-tech industries.”

“To create that justification, you need a lot of bait to throw to the snakes swarming in Washington D.C., Johnny. Even if you’ve already paid, the deal is different. Are you okay with that?”

Even though Henry and I had already spent a total of $600 million in the American political arena, the exchange of political funds and interests is handled separately for each specific case. I chuckled at Isaac’s question.

“If you deposit $500 million in cash in North Korea as Gaeseong Industrial Complex security insurance, I will make donations to the Democratic and Republican parties in your name. $2 billion for the Republican Party and $1 billion for the Democratic Party—how about it?”

I regretted not being able to bet right before the election, but the scale is what can reverse the timing. If the authority of Triumph and Chase Manhattan is added to the election fund of $3 billion, the politicians in Washington D.C. won’t even consider sabotaging the North Korean business.

***

After finalizing the agreement with Henry and Isaac and lobbying the American political world, we returned to Korea and requested a convocation of the Samcheong-dong study meeting. It was the first time in a while that we had gathered, but the faces of the group’s elders were vibrant.

“The reason for requesting today’s meeting is to decide whether or not to participate in Hae Dong Group’s North Korean business.”

“What are you talking about, Director Lee? Those communist bastards are not trustworthy. North Korean business?”

Bae Jae-hoon, who was the first to speak in response to my agenda, continued with a stern expression.

“Everyone knows that North Korean guys are robbers, Director Lee. That’s why we refused to participate in the North Korean resource development project requested by the government, right?”

“The resource development project is a project where we could lose all of our investment assets, so of course we can’t do it. So… I’ll show you this first.”

I took out the North Korean business data from my briefcase, distributed it to everyone sitting at the table, and returned to my seat.

“‘Gaeseong Industrial Complex Consignment Production Base Plan’?”

“I discussed it with the headquarters of Standard Capital, and they said that if we bring in Triumph Capital and Chase Manhattan, the North Korean regime won’t be able to do anything like robbery. They said they wouldn’t want the carrier strike group to come up to the West Sea and turn Pyongyang into a sea of fire. The lobbying in Washington D.C. is already complete.”

“Hmm…”

While everyone was looking at the documents, humming thoughtfully, Seon Hae-cheol added.

“I had a good talk with Henry, my former boss. The reason why Chase Manhattan decided to join this time was because they saw a good deal with Hae Dong Group or Standard Capital… and they were confident that this business would be profitable.”

As Seon Hae-cheol and Park Tae-jin also agreed, compact cars, low-end semiconductors, wafer rework, and electronics assembly are all businesses with thin margins when carried out in Korea.

However, these are businesses that can be transformed into high-profit ventures by utilizing North Korea’s cheap labor, but the elders couldn’t easily give an answer.

Grandfather stared at me intently and then got up from his seat.

“I’m going to go get some fresh air with Seong-min for a while.”

Grandfather, who went out to the garden, said to me while basking in the warm sunlight.

“I don’t know how much money you fed the American politicians, but investing in North Korea will not be pleasing to the three vice chairmen. They are generations who have experienced war.”

Even if Go Seung-joo and Lee Myung-jin are more open-minded, the trauma of the war that the three veteran vice chairmen experienced in their 20s will not be easily erased. It’s a red complex [anti-communist sentiment] that will likely persist for decades.

“I know. But if we don’t invest in North Korea now, the Chinese guys will get too big, Grandfather.”

Nevertheless, I couldn’t give up this opportunity.

It’s an opportunity to prevent China’s electronics industry from dominating. Isn’t it a 효자 [hyoja – filial piety, a key virtue in Korean culture] industry with high added value per unit weight? Besides….

‘It’s a life-saving job that Grandfather arranged. Chairman Myung Seon-woo is too good a person to let die.’

Myung Seon-woo is a person with a gentle personality, so much so that he seems out of place among the successors of Taehyun Group, but he is also a person who shows courage when necessary.

To prevent such a person from committing suicide due to remittances to North Korea, this investment must be made. As a returnee with sufficient power, I wanted to save those who should be saved.

I don’t know if my heart was conveyed, but the humming sound flowing from Grandfather’s mouth stopped.

“It doesn’t seem to be just because of money.”

“It’s about the lives of the people in this country.”

Grandfather nodded as he looked at me, who didn’t lie but didn’t reveal my full intentions.

“Then there’s only one way. You have to reveal in the study that you are the owner of Standard.”

“Grandfather?”

“To achieve great things, great power is needed. You have to show that you have the power to handle great things so that the vice chairmen will follow your will.”

“Still….”

To be honest, I was a little scared.

No matter how much I have devoted myself to the group, haven’t I deceived the five vice chairmen in a way? I was also worried about whether they would treat me the same way they do now even after they found out that I was the owner of Standard Capital.

Grandfather patted me on the shoulder as he looked at me, who was hesitating.

“I know what you’re worried about. But it’s something you’ll have to face someday. If you can’t avoid it, you shouldn’t run away and fight against it, so you can take over your grandfather’s position and look down on this country, no, the world, from the study of this house, right? Heh heh.”

I felt relieved when I saw Grandfather laughing heartily. I straightened my expression and opened my mouth while looking at Grandfather.

“Thank you, Grandfather.”

***

Back in the study, I stood next to Grandfather, who was sitting in his chair, and looked around at the adults sitting at the table.

“I’m going to tell you something important now.”

After taking a breath, I slowly revealed the truth.

“Standard Capital is my company.”

What kind of reaction would I get? Anger? Surprise? Shock?

However, the five vice chairmen only widened their eyes for a moment, then hummed and nodded.

‘What is this?’

I was embarrassed and looked at Grandfather, but Grandfather smiled at me and said to the audience.

“Now, the things you were curious about have been resolved, euhehe.”

“That’s right, haha.”

“I’ve been waiting for that guy to say it himself, but I’m finally hearing it, hehe.”

I was even more dumbfounded by the sight of the adults laughing heartily. Go Seung-joo looked at me and said.

“Everyone was guessing that Standard Capital might be your company.”

“Uncle?”

“To be honest, I couldn’t believe it at first. It started with the question of why such a great company would go out of its way to help us. Isn’t that right, Vice Chairman?”

Bae Jae-hoon, who received Go Seung-joo’s gaze, nodded.

“That’s right. Five years ago, when I went on a business trip to Australia to invest in mine development, I couldn’t understand why they would add billions of dollars to our business, so I looked around, but I couldn’t find an answer. I just let it go, but now I feel relieved.”

“We can’t leave out the fact that they allowed us to acquire the know-how of a well-known e-commerce company in the United States. What kind of favor would the owner of that company give to the company they invested in? That’s where I thought Seong-min was the owner, hehe.”

Following Tae Jae-ho, who was grinning slyly, Jo Young-chan also stroked his mustache with a satisfied expression.

“My brothers also benefited from Seong-min, but our financial sector benefited the most. Executive Director Min and Director Joo of Hae Dong Securities, and the money entrusted to Standard Capital has already grown to over $20 billion. I think my stomach is going to burst, haha.”

“When my father said he would hand over the shares of Hae Dong Motors to me, I expected to some extent, remembering the saying that the most useless thing in the world is worrying about Seong-min. Thank you, nephew.”

I could only give a shy smile when I saw Lee Myung-jin even giving me a warm look.

‘Everyone was guessing.’

It seems that I couldn’t hide it no matter how hard I tried. The fact that I worked hard for our family behind the scenes.

In a warm atmosphere, Grandfather smiled and opened his mouth.

“Now that the reason why the owner of Standard Capital is looking after us has become clear, let’s hear your opinions. North Korean business, raise your hand if you agree.”

As soon as Grandfather’s words fell, everyone raised their hands.

“Thank you. I will work hard!”

I shouted loudly and bowed my head to everyone. With a proud and lightened heart.

***

A few days later.

After sharing stories about what to do in the future at the main house in Samcheong-dong, I joined the working-level staff of GK Group at the main gate of Taehyun Group’s Gyedong office building with Park Tae-jin and Seon Hae-cheol.

We entered the lobby and were guided to the conference room by executives from Taehyun Group’s Myung Seon-woo affiliate who came to greet us.

“Nice to meet you. I’m Myung Seon-woo.”

Myung Seon-woo greeted us with a polite attitude that seemed ingrained in his body, as much as he chose Korean literature as his major in college. We took turns exchanging greetings and then started negotiations.

“We will accept the conditions proposed by the GK Group and Standard Capital consortium. Is there anything else?”

It seemed quite suspicious that they would take over all the debt and give 2 trillion won [approximately $1.5 billion USD] in cash as the acquisition price. I exchanged glances with Park Tae-jin and Seon Hae-cheol and then raised my hand.

“Ah, Director Lee Seong-min. I heard about you from the chairman, haha.”

“Thank you, Chairman Myung Seon-woo. The reason why we joined hands with GK Group and offered favorable conditions is only to strengthen the semiconductor industry, which is a strategic industry in Korea. You can rest assured that there are no further requirements, haha.”

I smiled and licked my lips inwardly.

‘To be honest, I’m greedy for the Gyedong office building… but I can’t turn the entire pan-Taehyun Group into an enemy.’

Taehyun Group’s Gyedong office building cost only one-third of the construction cost of Shinseong Group’s headquarters, but it was built so strongly that Chairman Myung Jin-ho was proud of it.

Am I going to swallow such a building? This is nothing but fighting against the entire pan-Taehyun Group.

Thanks to suppressing my greed, the negotiations proceeded smoothly. After the negotiations, I went to his office with Myung Seon-woo and drank iced coffee.

“My father talks about you a lot. He said that there would be no loss if I invited you as a strategic consultant.”

“Thank you, haha.”

After exchanging a round of polite comments, Myung Seon-woo asked me.

“To be honest, it will be difficult for Taehyun Group to find its former glory now. But if we have to find a way out, where should we find it?”

I opened my mouth immediately at Myung Seon-woo’s question.

“I will help Taehyun Merchant Marine by having Hae Dong Corporation acquire the shipping business of the British P&O Group soon and then sign a maritime alliance with Taehyun Merchant Marine.”

“Is that, is that true?”

Myung Seon-woo’s eyes widened.

Now that Taehyun Electronics has been separated, Taehyun Merchant Marine is the only place to trust in the group, but if they join hands with Hae Dong Corporation, which will bring the shipping business from the British P&O Group, it will be more than enough to break through the way out, right?

“Instead, drop all of your existing North Korean businesses. Including the Mt. Geumgang tourism [a joint North-South Korean tourism project].”

“What?”

I smiled brightly as I looked at Myung Seon-woo, whose eyes had become sharp.

“Next, focus on the Gaeseong Industrial Complex with Hae Dong Group, Triumph Capital, and Chase Manhattan.”

Myung Seon-woo’s eyes widened again at the mention of the Gaeseong Industrial Complex.

“Gae, Gaeseong Industrial Complex? No, why are Hae Dong, Triumph, and Chase Manhattan…?”

“First, let’s talk after looking at the documents. I really worked hard to make this deal.”

When I took out the documents from my bag and handed them over, Myung Seon-woo quickly received them and read them.

‘You know you owe me.’

It’s something only I know, but if Myung Seon-woo accepts my offer, he will grab the lifeline to survival.