Mining And Construction Tycoon [EN]: Chapter 221

221. The Fateful General Shareholders Meeting (3)

Kim Bong-nam said,

“Lee Moon-bok went around Cheongil affiliates and scraped together a massive amount of nominee stocks, real estate, and movable properties. He really cleaned them out.”

The data that Tae-soo had given to Kim Bong-nam, and Kim Bong-nam had passed on to the presidents of Cheongil affiliates, was revealed to the world.

With the massive assets being disposed of at bargain prices, the executives and shareholders hardened their expressions.

“How are you going to handle this issue?”

“What do you mean, how? We have to do it according to the law.”

For Han Il-kwon to say ‘according to the law’ was quite something.

It was a terribly unfitting statement.

“We called Cheongil’s legal team and sued Lee Moon-bok for breach of trust and embezzlement.”

“During the prosecution’s arrest investigation, they couldn’t find the money yet, though?”

“We also filed for seizure.”

Han Il-kwon’s expression was calm, not like someone cornered.

But unlike his calm expression, his eyes blazed with anger.

“Let’s get to the point! So, is there money or not?”

“There isn’t.”

The executives and shareholders were furious.

It was an answer that provoked anger in everyone gathered here.

“Cheongil Group is about to go bankrupt! What have you done as chairman except ruin things!”

The heads of the affiliates joined in, echoing Kim Bong-nam’s words.

Because their emotions were running high, they had long since abandoned honorifics [formal titles or respectful language].

Cheongil’s loyal dogs rose from their seats, pointing fingers and spitting.

“If someone without ability sits in the chairman’s seat, they should at least be discreet.”

“Bringing in a guy like that and putting him in charge of Cheongil Construction. It’s a bad omen, a bad omen.”

“What was he lacking that the president of a construction company got involved in drug smuggling?”

“One bad apple spoils the barrel; what is this, Cheongil?”

“How are you going to take responsibility? How have we raised Cheongil until now?”

Everyone, with one mind and one heart, clung to Han Il-kwon.

“Chairman Han, resign!”

“Take responsibility!”

“Step down!”

Han Il-kwon, the largest shareholder of the holding company, was unconcerned.

“Resign? Why should I?”

“Because of you, Cheongil Group is about to collapse; are you saying you can’t take responsibility now?”

“Do you have proof?”

Han Il-kwon slammed the table with his palm, making a loud noise.

“Do you have proof? Proof that I instigated Lee Moon-bok, proof that I played a key role in drug trafficking, proof that I embezzled or breached my trust!”

If they had evidence, would they need to be ranting at the general shareholders meeting?

The police and prosecutors would have already raided and arrested Han Il-kwon.

Isn’t the prosecutor general and the president-elect taking the lead in cracking down on drug offenders right now?

But Kim Bong-nam jumped up and looked around at the presidents of Cheongil affiliates.

“Let’s start by resolving the dismissal of Cheongil Construction President Lee Moon-bok. Let’s handle things one by one.”

Han Il-kwon laughed as if to say, ‘Go ahead and try.’

“Good, let’s not waste our time and proceed simply. Now that we’ve come this far, it seems like there’s no need to be cautious of each other.”

Wasn’t the situation already spiraling out of control?

With Cheongil’s loyalists baring their teeth, there were no more hidden intentions.

“We will dismiss Lee Moon-bok, president of Cheongil Construction. All those in favor, raise your hand.”

People raised their hands.

It was unanimous.

The general shareholders meeting decides on the appointment and dismissal of company executives, determines compensation, amends articles of incorporation, decides on stock dividends and convertible bond issuance, and decides on company mergers, acquisitions, and dissolutions.

Following proper procedures, Lee Moon-bok was dismissed from his position as president of Cheongil Construction.

But Kim Bong-nam was not satisfied with that.

“Lee Moon-bok directly went around the affiliates and said it was Chairman Han’s order. Everyone, answer me. Is that correct?”

“Yes, it is.”

“Lee Moon-bok showed Chairman Han’s instructions in official documents. Did everyone confirm it?”

“We confirmed it.”

Kim Bong-nam also banged on the table, shouting,

“Chairman Han, Lee Moon-bok embezzled money under your orders! Where did it all go?”

“Why are you asking me that? Ask Lee Moon-bok!”

Han Il-kwon glared at Tae-soo, grinding his teeth.

“The bastard who played tricks in the middle, listen well. I will get this debt back no matter what.”

Although it was said to Tae-soo, Kim Bong-nam snatched it up.

“You said it well. If you don’t want to resign, then put out your personal assets!”

“Personal assets? Why should I?”

“Are you going to watch Cheongil go bankrupt like this?”

“Don’t want bankruptcy? Then you guys put out your personal assets too. You’re also part of the Cheongil Group.”

“Don’t divert the issue and answer properly. How are you going to take responsibility? I will never let this pass!”

Starting with Kim Bong-nam, Cheongil’s loyalists all stood up and fiercely criticized Han Il-kwon.

It was the second round of the dogfight.

Crash, bang.

Objects thrown by the excited people in the conference room began to fly around.

Tissue boxes, water bottles, pens, and papers were basic, and even chairs were flying around in severe cases.

A physical fight even broke out between the shareholders and Cheongil Group security guards.

* * *

Tae-soo sat in his chair, quietly watching their 모습 [Korean word for ‘appearance’ or ‘scene’].

“What a spectacle.”

Lee Chang-won, the former president of Cheongil Heavy Industries, who was sitting behind Tae-soo, coldly murmured.

Roh Il-guk agreed.

“It’s a dogfight. A real mess.”

“To think the day would come when Cheongil’s loyal dogs would turn on their master.”

“Ah, I should have brought popcorn.”

“I brought cola.”

Then Tae-soo opened a large travel bag.

They had been wondering why Tae-soo, who usually carried important documents in his arms, had brought a bag.

“Take one each.”

Popcorn and cola came out of Tae-soo’s bag.

Lee Chang-won and Roh Il-guk received the popcorn and cola with expressions of respect.

‘The Chairman is thorough even with this.’

‘He came expecting a dogfight. As expected, the Chairman sees and acts one step ahead of us.’

Kim Kwang-rok asked excitedly.

“Don’t you have cider? Or sweet snacks?”

“Here you go.”

“Thanks.”

The Taeyang Group people leisurely attended the general shareholders meeting in spectator mode.

At other times, the loud crunching sounds rudely echoing in the quiet conference room would have been very annoying.

But now, no one could pay attention to that sound.

The general shareholders meeting was very noisy with shouts and curses.

Han Il-kwon banged on the table and shouted,

“There’s no evidence. Even the prosecutors and police, who are going crazy over the drug investigation, can’t do anything to me. What can you guys do!”

He was psychologically certain, but he couldn’t prove it materially.

But Kim Bong-nam, burning with ambition for the next chairman position, did not back down.

“You have to take responsibility for the simultaneous plunge in Cheongil affiliate stocks!”

“Why is that my fault? That’s why I’m asking if you have evidence.”

“The group can collapse even without evidence. Take responsibility for the results of your incompetent management!”

“Go ahead and try!”

Han Il-kwon presented three document envelopes.

“My shares are 17%, my father’s shares are 32%, my mother’s shares are 8%, totaling 56%!”

The conference room fell silent in an instant.

Since the general shareholders meeting is a place where shareholders exercise voting rights according to the number of shares they hold, the one with the most shares is the best.

“Try to take over the management rights if you can!”

There was no way.

The only way to mobilize was to turn their backs, but even if they decided to resign from the board of directors in a boycott, it would be a loss.

Cheongil’s loyal dogs all asked Kim Bong-nam with their eyes.

-It’s not easy.

-What do we do now?

-Is it possible to change the holding company with this situation?

Did Kim Bong-nam have a solution?

He had no choice but to look at Tae-soo.

-I will take care of that problem. Han Il-kwon will step down from the chairman’s position.

He was trusting Tae-soo’s words.

Wasn’t Kim Bong-nam the one who personally experienced Tae-soo’s skills when he asked him to sell molybdenum to Cheongil?

As Kim Bong-nam only looked at Tae-soo, Cheongil’s executives and shareholders all turned their heads towards Tae-soo.

But nothing would change.

‘No matter how great Kang Tae-soo is, there’s no way he can have a miraculous solution in this situation.’

‘What power does the chairman of Taeyang Group have at the Cheongil general shareholders meeting?’

That’s when it happened.

Tae-soo quietly rose from his seat.

It seemed like the person he had been waiting for had finally arrived.

“Have you arrived?”

“Sorry. I was a bit late.”

It was Ahn Jung-woo, who was busy preparing for the inauguration ceremony.

Ahn Jung-woo’s appearance caused people to stir.

‘Why is the president-elect at the Cheongil Group general shareholders meeting?’

‘Other group chaebol [South Korean conglomerate] chairmen are coming, and now the president-elect is coming. How is this going?’

The meeting briefly fell into a lull.

No one would shout and throw things in front of the president-elect, who would soon become the next president.

* * *

Ahn Jung-woo strode over and sat next to Tae-soo.

Everyone’s eyes were on Ahn Jung-woo.

Ahn Jung-woo held up a document envelope.

“I will attend the meeting as a shareholder of Cheongil Construction.”

Someone couldn’t contain their curiosity and asked.

“Your name wasn’t on the list of major shareholders.”

People stirred even more.

Han Il-kwon might not have checked the shareholder list, but most of Cheongil’s executives had checked the shareholder list in advance.

‘Was there a name Ahn Jung-woo?’

‘Even if there was a name Ahn Jung-woo on the shareholder list, who would have known it was the president-elect? They would have thought it was a person with the same name.’

Ahn Jung-woo shook the document envelope and smiled.

“Of course, it wouldn’t be on the list of major shareholders. I have one share of Cheongil Construction stock. But I am qualified to attend the general shareholders meeting, right?”

Even if he only bought one share, a shareholder was a shareholder.

He had the right to attend the general shareholders meeting, even if his voting power was minimal.

Ahn Jung-woo even called out the shareholder number that he had written on the document envelope in advance.

“Why would the president-elect, who must be busy preparing for the inauguration ceremony, attend such a small meeting?”

“You don’t mean to say that you’re already going to exert pressure on the operation of a chaebol group with only one share as an excuse, do you?”

It was a polite voice, but the meaning was sharp.

“Of course not. In the general shareholders meeting, the one with the most shares is the powerful one. I am someone who follows the law.”

“No, then why…”

“I heard that the souvenirs at the Cheongil Group general shareholders meeting are quite good?”

In the old days, souvenirs were provided to people who participated in the general shareholders meeting.

In Japan, a minimum transaction unit was set, but Korea did not have a minimum transaction unit.

So, people who aimed for souvenirs bought only one share and received souvenirs that were much more expensive than the stock price began to appear.

As a result, souvenirs were gradually not given or low-priced souvenirs were prepared.

Ahn Jung-woo was saying that he came because of the souvenirs.

‘Who would believe that?’

‘Ahn Jung-woo is already keeping an eye on Cheongil.’

‘We can’t drag out a shareholder just because he’s a little 신경 쓰인다 [Korean expression for ‘bothersome’ or ‘nerve-wracking’].’

Kim Bong-nam then asked Prosecutor General Kim Cha-yeol, who was sitting next to Ahn Jung-woo.

“Are you also a shareholder, Prosecutor General? I didn’t see your name on the list. What is your shareholder number?”

“I’m not a shareholder, so I don’t have a shareholder number.”

Why did he come to the general shareholders meeting if he wasn’t a shareholder?

This was something that should be dragged out by the staff.

But no one could call the staff because of Kim Cha-yeol’s following words.

“I have a warrant.”

The prosecutor general presented a warrant.

People were very nervous.

“Everyone knows about the drug trafficking suspicions that started at Cheongil Construction, right?”

“Don’t tell me…”

“Whether to conduct a large-scale investigation, issue a search and seizure warrant, summon as a witness, or drag them away as a suspect. That’s the 고민 [Korean word for ‘worry’ or ‘concern’].”

The complexions of Cheongil’s executives changed as he spoke.

But Kim Cha-yeol calmly finished his words.

“It’s just my personal prediction, but perhaps all of this will depend on the outcome of the general meeting.”

Kim Cha-yeol kept looking at Tae-soo’s expression as he said that.

His actions would change depending on Tae-soo’s will, not on the outcome of the general meeting.

‘No, that’s not a personal prediction. You came on official business.’

‘You’re openly threatening us.’

Ahn Jung-woo waved his hand.

“Let’s not pay attention to us and continue the meeting.”

How could they not pay attention?

It was like sitting on thorns.

Han Il-kwon frowned.

‘Damn it!’

He knew instinctively.

The appearance of Ahn Jung-woo and Kim Cha-yeol had overturned the 판도 [Korean word for ‘situation’ or ‘state of affairs’].

This place was very dangerous now.

So, Han Il-kwon quickly changed his words.

“Then today’s extraordinary general meeting will end here…”

Kim Cha-yeol cut off Han Il-kwon’s words in one stroke.

“Is it really okay to end it like this? I clearly said that many things would change depending on the outcome of the general meeting. Do you often hear that you’re terribly lacking in 눈치 [Korean word for ‘sense’ or ‘awareness’ of a situation]?”

The conference room became as quiet as a mouse when the prosecutor general spoke so openly.

Han Il-kwon was unable to declare the meeting closed.

Han Il-kwon and Tae-soo’s eyes met in the air.

‘Kang Tae-soo…!’

Tae-soo was silently watching all of this.

Han Il-kwon gritted his teeth at the sight of the victor’s smile.