The Conglomerate Family Became A Villain [EN]: Chapter 65

65. Becoming a Villainous Conglomerate Heir – The Third Christmas 04 –

***

Director Jung Woo-jin’s eyes clouded over, as if lost in reminiscence.

“Your father loved tinkering with electronics ever since he was a boy.”

Jung Hyun-woo responded with a hint of surprise, “I had no idea there was such a story.”

This was genuine.

He only knew that his father held Daewoon Electronics stock among his assets, but this was the first time he’d heard of his father’s deep interest in the company.

Chairman Jung Woo-sun also let out a long sigh.

“Hoo… What would Min-hyuk think if he saw Daewoon Electronics as it is now?”

The sales of Daewoon Electronics were significantly lower compared to Daewoon Corporation or Daewoon Construction.

Last year, some executives even discussed liquidating Daewoon Electronics. In short, Daewoon Electronics was the black sheep of the Daewoon Group.

‘If Min-hyuk were here, things wouldn’t be like this.’

Director Jung Woo-jin, noticing the poor state of Daewoon Electronics, raised his voice at the end of his sentence.

“Brother, is Daewoon Electronics really in such bad shape?”

Chairman Jung Woo-sun nodded with a low groan.

“It’s very bad. It’s being squeezed by Daehyun Electronics and Samjung Electronics.”

“Brother, those two are giants. Still, since it’s Daewoon Group, wouldn’t it be better off compared to other companies?”

The home appliance market in Korea was fiercely competitive among Daehyun Electronics, Samjung Electronics, and Ohsung Electric.

Daewoon Electronics wasn’t even competing with these companies, but with mid-sized companies like Ajin Electronics below them.

With a market share of just 1.2%, there was a good reason why Daewoon Electronics couldn’t even show its face at the American CES [Consumer Electronics Show, a major tech trade show].

Chairman Jung Woo-sun shook his head at his brother’s words.

“Actually, Daewoon Electronics doesn’t even measure up to Ohsung Electric. I need to grow it a bit before Hyun-woo comes back from America.”

He wanted to improve Daewoon Electronics before Jung Hyun-woo returned. To put it slightly exaggeratedly, it sounded like he wanted to entrust Daewoon Electronics to him.

Director Jung Woo-jin thought that wouldn’t be so bad.

‘If Hyun-woo takes over Min-hyuk’s position and becomes the president of Daewoon Electronics, the picture isn’t that bad.’

An elite president who majored in electrical engineering at MIT could bring a big shakeup to the Korean home appliance industry.

“Brother, I should buy more Daewoon Electronics products from now on.”

Director Jung Woo-jin’s words were not empty. The amount and types of electronic products purchased annually by the eight general hospitals under his control were not small.

Chairman Jung Woo-sun waved his hand dismissively.

“No, don’t do that. When Daewoon Electronics makes something worth selling, I’ll send it to you as a gift.”

He meant that Daewoon Electronics’ products were not yet good enough to be supplied to large hospitals like Wooin Hospital.

“Brother, I want to help Hyun-woo a little. Wouldn’t things like fans or microwave ovens be okay?”

“Hmm.”

Chairman Jung Woo-sun tasted bitterness.

‘Fans and microwave ovens. Is that all our Daewoon Electronics can sell?’

Last year, Samjung Electronics developed the world’s third 64kb DRAM [Dynamic Random-Access Memory, a type of computer memory], and Daehyun Electronics, with technical cooperation from Japan, planted its flag as number one in the domestic personal computer market. And Ohsung Electric, arguably third in the industry, launched highly efficient refrigerators and received good reviews in Europe and the United States, starting exports.

Compared to the top three companies, Daewoon Electronics had nothing to show this year either.

‘Tsk, how did it come to this?’

Jung Hyun-woo asked Chairman Jung Woo-sun, who had fallen into silence.

“Grandfather, I heard I have 100,000 shares of Daewoon Electronics. How much is that worth?”

Chairman Jung Woo-sun broke the silence at his question.

“100,000 shares?”

“I heard it was my father’s inheritance.”

“Hmm, that’s probably half of Daewoon Electronics’ shares.”

If it was half of Daewoon Electronics’ shares, Daewoon Electronics was practically Jung Min-hyuk’s company.

“Half of Daewoon Electronics’ shares?”

Chairman Jung Woo-sun turned his head towards the door, thinking he might be overheard.

“Hey, tell Secretary Hong to come in!”

The butler, who had been waiting, bowed his head at his shout.

“Yes, Chairman.”

The butler quickly conveyed Chairman Jung Woo-sun’s instructions to Secretary Hong Won-ik.

“Secretary Hong, the Chairman wants you to come in.”

“To the second floor?”

“Yes.”

Secretary Hong Won-ik wiped the sweat from his forehead as he went up to the second floor.

‘Calling me to the second floor, what’s going on all of a sudden?’

The second floor of the mansion was a place even he, Chairman Jung Woo-sun’s confidant, couldn’t often go.

‘Hoo, did Hyun-woo make another bombshell declaration?’

Quitting MIT, not coming back to Korea, the types of bombshell declarations were impossible to predict.

He stopped in front of the study.

“Chairman, I’m coming in.”

“Yes, come in.”

Creak.

Secretary Hong Won-ik opened the door, went inside, and stood before him.

“What did you call me for?”

Chairman Jung Woo-sun raised his right hand and asked.

“The 100,000 shares of Daewoon Electronics that Hyun-woo has, what’s the percentage of ownership?”

100,000 shares of Daewoon Electronics.

This was a question Secretary Hong Won-ik hadn’t expected. But he knew the number of outstanding shares of Daewoon Electronics, so he could answer without difficulty.

“It’s 33.3%.”

“One-third?”

“Daewoon Electronics has issued a total of 300,000 shares.”

Chairman Jung Woo-sun narrowed his brow.

“Tsk, tsk, not half.”

Jung Hyun-woo thought 33.3% was considerable.

‘The problem isn’t the percentage of ownership, but that Daewoon Electronics is small.’

If Daewoon Electronics were a listed company, he could buy the remaining 17% of the shares and secure management control. However, Daewoon Electronics was so small that it couldn’t be listed separately.

“Of the remaining 200,000 shares, Daewoon Corporation has 100,000 shares, and you, Chairman, have the remaining 100,000 shares.”

“Are there only three shareholders?”

“Yes, because it’s not a listed company yet…”

Chairman Jung Woo-sun interrupted him.

“Give 50,000 of my shares back to Hyun-woo.”

Secretary Hong Won-ik’s eyebrows shot up.

“Yes?”

“Secretary Hong, why do I have to say it twice? Give 50,000 of my shares to Hyun-woo.”

He was saying he would increase Jung Hyun-woo’s Daewoon Electronics stake to 50%.

“Ah, I understand.”

Secretary Hong Won-ik bowed, thinking.

‘This must be because of the fax Hyun-woo requested sometime ago.’

He thought Jung Hyun-woo had requested Daewoon Electronics shares, and Chairman Jung Woo-sun had granted it.

Secretary Hong Won-ik was Chairman Jung Woo-sun’s right-hand man, but he wasn’t an all-powerful second-in-command.

Was that why?

He accepted Chairman Jung Woo-sun’s instructions without raising any objections.

“I will handle it as you instructed, Chairman.”

Soon, Director Jung Woo-jin raised his voice.

“Brother, are you going to entrust Daewoon Electronics to Hyun-woo?”

Instead of answering, Chairman Jung Woo-sun turned his gaze to Jung Hyun-woo.

“Daewoon Electronics, I think it would be good if you tried to grow it.”

Jung Hyun-woo placed both hands on his knees.

“If I come back to Korea and take over company affairs… I think the electronics side would be better.”

He answered that Daewoon Electronics would be better, but he added the condition that it was if he returned to Korea.

“Yes, electronics are your domain!”

Secretary Hong Won-ik backed out, thinking that Jung Hyun-woo was still not easy to deal with.

‘Did he receive Daewoon Electronics as an entrance gift instead of a building? Maybe he’s become even harder to deal with than when he was young.’

He was the child who said the Chairman Jung Woo-sun’s mansion was small.

‘Hyun-woo’s scale is different from the other third-generation members of the Daewoon Group.’

Next to him, Director Jung Woo-jin was encouraging Chairman Jung Woo-sun.

“Brother, if an MIT Ph.D. manages Daewoon Electronics, who can stop him?”

Chairman Jung Woo-sun shouted in a long-unheard excited voice.

“That’s right!”

He looked back and forth between his smart brother and even smarter grandson and smiled broadly, seemingly satisfied.

‘Our Daewoon is just beginning.’

Chairman Jung Woo-sun was confident that the Daewoon Group would develop more in the next generation than in his generation.

***

One hour later.

Jung Hyun-woo and Secretary Hong Won-ik stood side by side on the first floor of the mansion.

Jung Hyun-woo had just finished talking with his grandfather, Chairman Jung Woo-sun.

“Secretary.”

Secretary Hong Won-ik’s voice was dry.

“Is something wrong?”

“It’s not that. Do I not have a secretary anymore?”

A child looking for his secretary.

Secretary Hong Won-ik clicked his tongue inwardly.

‘Tsk, he’s still a sassy kid.’

He turned his head to the side. Then he called out to the young man waiting next to the front door.

“Manager Sung.”

Manager Sung Hyung-jin.

He was in his fifth year at Daewoon Group.

“Secretary, did you call me?”

Jung Hyun-woo looked him up and down.

‘Clean shirt, unwrinkled face. Is he from a prestigious university and a good family? If not, he must be excellent at self-management.’

As his status in the Daewoon Group rose, so did the caliber of his secretary.

“From today until Hyun-woo returns to the United States, you will stick with him.”

“I understand.”

Manager Sung Hyung-jin bowed deeply to Jung Hyun-woo.

“I’m Sung Hyung-jin. I look forward to working with you.”

Jung Hyun-woo nodded very slightly. This was an intentional act to show arrogance.

‘There’s no need to be polite to subordinates.’

In the Daewoon Group, his position was that of a reformed troublemaker.

“Manager Sung, I hate people who break appointment times the most.”

A word befitting a conglomerate heir.

Manager Sung Hyung-jin bowed even deeper.

“I will never be late.”

Secretary Hong Won-ik sighed inwardly as he listened to Jung Hyun-woo’s cold voice.

‘Hoo, I don’t know if Manager Sung can handle Hyun-woo.’

Elites like Sung Hyung-jin had stronger pride than any other class.

‘They usually get fired if they’re too strong.’

As the Daewoon Group grew, the specs of the secretarial staff were also getting better and better. But their specs were too high to do menial tasks.

‘We need to lower the specs a bit when hiring.’

He looked at Jung Hyun-woo and Manager Sung Hyung-jin and said.

“Both of you, if there are any problems, contact me.”

Jung Hyun-woo waved his right hand dismissively.

“There won’t be anything that requires Secretary to step in.”

Was he saying he would stay quiet this time?

Secretary Hong Won-ik still couldn’t rest easy.

“Also tell me when you need money separately.”

Jung Hyun-woo put his hands behind his back and dismissed his words.

“There’s plenty of money on this side too.”

“Hyun-woo.”

“What, is there a problem?”

“Hyun-woo. This isn’t America. It’ll be difficult if you act recklessly.”

South Korea was still under military rule. The power of the chaebols [family-owned conglomerates] was powerless before the military’s guns and swords.

Jung Hyun-woo shrugged his shoulders.

“Secretary, do you think I’m so young that I don’t even know that?”

“If you know, that’s enough.”

Secretary Hong Won-ik’s mouth felt gritty as if he had sand in it.

‘I hope my worries are unfounded.’

Two hours later.

Chairman Jung Woo-sun went to work at the headquarters with Secretary Hong Won-ik. He had met his grandson, so he meant to spend the remaining half of the day on work.

Jung Hyun-woo, who remained in the mansion, turned his head to Manager Sung Hyung-jin, who was standing next to him.

“Manager Sung.”

“Yes, Young Master.”

Jung Hyun-woo was not a member of the Daewoon Group, but he was a person who was more difficult to deal with than most executives.

“Can I use a car?”

Manager Sung Hyung-jin had a driver’s license, so he could handle both the role of executive secretary and driver.

“A Stilla has been assigned to you, Young Master.”

The Stilla was the car Jung Hyun-woo had been riding in from Gimpo International Airport.

“That’s good.”

Manager Sung Hyung-jin slightly raised his voice at the end of his sentence.

“Shall I prepare it?”

“It’s okay today.”

Manager Sung Hyung-jin had been nervous since Secretary Hong Won-ik left.

‘Let’s stay sharp. He’s a young master who’s rumored to be picky.’

He thought he just had to hold out until Jung Hyun-woo went back.

“I want to find someone. Is that possible?”

“You’re looking for someone?”

Manager Sung Hyung-jin sighed inwardly.

‘Hoo, I’m not an errand center employee.’

Jung Hyun-woo smiled when he saw his eyes shaking.

“Manager Sung, there’s no need to be afraid. The person I’m looking for is a Daewoon Group employee.”

Manager Sung Hyung-jin was relieved to hear that the person he was looking for was a Daewoon Group employee.

“If that person is a Daewoon Group employee, we can find them by inquiring with the personnel department.”

“That’s good.”

Jung Hyun-woo gave him some instructions and told him to come by 7 a.m. tomorrow. Manager Sung Hyung-jin bowed deeply at his words.

“Then I’ll see you tomorrow.”

Jung Hyun-woo only nodded very slightly.

“See you tomorrow.”

He headed to the mansion with his hands behind his back like an old man.

***

Dong-gu, Daejeon.

Choi Kyung-min straightened his tie and hurried his steps. As he entered the dealership, an employee who was cleaning around bowed deeply.

“Manager, good morning.”

Choi Kyung-min greeted him in a bright voice.

“Good morning.”

He put his bag down on the desk located at the innermost part of the dealership.

Thud.

Branch Manager Choi Kyung-min.

He looked at the nameplate on the desk and let out a long sigh.

“Hoo…”

His rank had clearly risen. But he was just lingering in a minor position in the provinces.

‘Is this the end of my success?’

He had met Secretary Hong Won-ik once last year, but he had only heard excuses that someone was interfering with his personnel affairs.

‘Who would exclude a low-ranking employee like me?’

He just thought he had been pushed out.

“Branch Manager, today is the approval.”

A gaunt employee wanted to get approval for the items brought in this morning.

“Did you check it against the documents?”

At his question, the employee presented the documents forward.

“Quantity check and inspection are all complete.”

“Can I trust you?”

“There may be defects in the product, but the quantity is accurate.”

“I understand.”

Choi Kyung-min signed the documents and sat in his chair.

‘I’m going to be transferred every year.’

Today was Choi Kyung-min’s third day working at the Daewoon Corporation Ojeong-dong branch.

“Branch Manager.”

Choi Kyung-min turned his head at the employee’s short call.

“What’s wrong?”

“A guest has come to see you.”

“A guest?”

Choi Kyung-min got up from his seat. And a moment later, he was as surprised as someone who had seen a goblin.

“Y, Young Master.”

Jung Hyun-woo had come all the way to the Ojeong-dong dealership to find him.

“Secretary Choi, have you been well?”

Choi Kyung-min straightened his posture and greeted him.

“I’ve been well, thanks to you.”

Jung Hyun-woo swept him up and down and shook his head.

“Judging by the unraveling of the wool on your shirt, it doesn’t seem so.”

His eyes were still sharp.

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