Mining And Construction Tycoon [EN]: Chapter 223

223. The Fateful General Shareholders Meeting (5)

Taesu scanned the room.

“I think you all know what this means.”

The shares of Cheongil Holding Company that Taesu had secured amounted to a whopping 49%.

The management rights of Cheongil were being threatened.

‘I can’t believe it!’

‘This can’t be happening!’

‘This shouldn’t be happening!’

Shock and dismay swept through the conference room, and not even the sound of a pin dropping could be heard.

It was the first time they realized that being utterly dumbfounded could render one speechless.

‘The chairman of Taeyang Group is the major shareholder of Cheongil Group!’

‘No, he’s not just a major shareholder, he’s the *largest* shareholder!’

‘Then Cheongil Group is…!’

Han Il-kwon started pointing at Taesu, his face reddening.

He felt like he was losing his mind.

“You…! You, Kang Taesu…! This is absurd…!”

He was half out of his mind with disbelief.

“Why do you have so many shares of Cheongil Motors! Don’t lie!”

He couldn’t wrap his head around it.

“Cheongil Motors is indeed a subsidiary with dispersed shares. But even if you scraped up all the shares released on the stock market, you couldn’t gather 49%!”

The people gathered in the conference room were equally stunned.

But they couldn’t remain in a daze forever.

Cheongil’s loyalists, who had previously been tearing Han Il-kwon apart with their criticism, all rose from their seats.

“Cheongil is the 13th largest conglomerate in the business world! In contrast, Taeyang is only ranked 163rd!”

“And you’re saying that Taeyang is going to swallow Cheongil?”

“Know your place! I’d rather Cheongil eat Taeyang!”

Taesu smirked.

“Denying it won’t change the situation.”

Kim Bong-nam gritted his teeth.

Taesu’s words at Daewoon閣 [a high-end traditional Korean restaurant] in Seongbuk-dong echoed in his head.

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

-Move the Cheongil Group holding company to Cheongil Motors.

-I’ll give you strength.

“Kang Taesu, you dare deceive me? Me… me…!”

Wasn’t he supposed to be the next chairman?

He had 4% of Cheongil Motors shares obtained from Lee Mun-bok!

But what was this nonsense?

“How could you have secured 49% of Cheongil Motors shares? It’s obvious!”

At Kim Bong-nam’s words, all of Cheongil’s executives focused their attention on him.

Kim Bong-nam smiled bitterly and spread his arms.

“Isn’t this figure the result of you calculating that I would be drawn to your side?”

Kim Bong-nam looked around and spoke, laying out his reasoning.

He rattled off the numbers without taking a breath.

“Cheongil Chemical 7%, Cheongil Distribution 5%, Cheongil Shipping 6%, Cheongil Electronics 6%, Cheongil Electric 4%, Cheongil Food 3%, Cheongil Timber 2%, Cheongil Window 2%, Cheongil Textile 1%, Cheongil Fashion 2%, Cheongil Daily 2%! A total of 40%!”

These were allies that Kim Bong-nam had secured while aiming for the next chairman position.

“The shares you secured through Lee Mun-bok are 4%, making it 44%! So, you must have secretly bought 5% from the market, right?”

How else could such an absurd thing happen?

So, Kim Bong-nam smiled confidently.

“Let’s think about it the other way around.”

Kim Bong-nam said, looking at the Cheongil executives watching him.

“If we add the 15% held by the Han Chairman’s family to the 40% of our Cheongil executives’ shares? That’s 55% in total!”

It’s already over 50%.

Hearing that, Han Il-kwon laughed loudly.

“Heh heh heh, so that’s how it turned out.”

Now the reality of that ridiculous calculation method has been revealed.

Kim Bong-nam smiled triumphantly.

“No matter how much I covet the next chairman’s position! This isn’t a seat I’d take even if it meant handing over Cheongil, where I’ve poured my youth and my entire life!”

At those words, Cheongil executives all shouted in unison.

“Cheongil’s affairs are Cheongil’s business. So, the Taeyang Group chairman should get lost!”

“Now that I see it, you were a despicable guy. You incited a family feud in someone else’s company!”

“Don’t even dream of it. Cheongil will never be eaten by Taeyang!”

Han Il-kwon slammed the table.

“Did you see that, Kang Taesu! Cheongil will never move according to your will! This is Cheongil!”

It was truly laughable.

Taesu couldn’t help but chuckle.

“Everyone seems to be seriously mistaken.”

Taesu began to take out documents from his pocket.

“Jangsu Bank, Hanse Bank, Daehong Bank, Segwang Bank, Togeon Bank, Jeongil Bank, Miju Bank, Dogyeong Bank, Gwangmyeong Bank, Taesang Bank, Mokma Bank.”

Except for Jangsu Bank, all were banks that Taesu controlled.

The foreign banks that Taesu had acquired invested in and took over several domestic banks on the verge of bankruptcy.

This is because chaebol [large South Korean business conglomerates] groups are not allowed to directly own banks due to policies called *geumsan bunli* or *eunsan bunli* [financial-industrial separation laws].

Therefore, Taesu was operating banks through such indirect methods.

“These are the banks that have delegated their voting rights for Cheongil Motors to me.”

Taesu had gathered Cheongil Motors shares hidden behind the names of these banks.

Literally nominee stocks.

That’s not all.

“Do you really think the owner family of Cheongil owns as much as 15% of the shares?”

It was like a bolt from the blue.

The faces of Kim Bong-nam and the Cheongil executives changed.

“What are you talking about?”

“Don’t you know that Chairman Han Cheong-ho sold some of his Cheongil Motors shares because he lacked funds for Cheongil Hotel and Cheongil Apartment construction?”

“What?”

“He handed over 7% of Cheongil Motors shares to Chomyung Bank. I acquired that.”

Everyone looked at Taesu with surprised eyes.

Even Han Il-kwon’s pupils trembled as if an earthquake was occurring.

“In addition, I bought Cheongil Motors shares separately from the market, and this time, I additionally secured 4% through Lee Mun-bok.”

Taesu slammed the document envelopes he had been showing one by one onto the table with a thud.

“This makes it 49% in total.”

Silence filled the conference room.

‘Eleven banks have given Kang Taesu their proxies….’

‘If this happens, Kang Taesu will really take over Cheongil Group….’

‘Is this how Cheongil disappears?’

The Cheongil executives sighed repeatedly with resigned expressions.

Kim Bong-nam screamed.

“It’s not time to give up yet!”

Kim Bong-nam did not give up.

He looked around the room once again and said.

“Even if the owner family sold some shares, we are not far behind!”

Weak eyes turned to Kim Bong-nam.

Only Kim Bong-nam had strength in his eyes, filled with *ak* [malice] and *kkang* [grit].

“The shares of our Cheongil Group executives, including Cheongil Chemical, amount to 40%. And the owner family’s shares are 8%, right? That’s only a 1% difference!”

“1%? So, so it is.”

“Moreover, if we scrape together all the shares held by the other company presidents present here….”

He had created 40% with only the company presidents who shared his intentions with Kim Bong-nam.

Other group affiliates also held Cheongil Motors shares.

But suddenly, Kim Bong-nam felt a sense of unease.

‘The calculation… is strange?’

Kim Bong-nam couldn’t finish his sentence.

Taesu was smiling leisurely, as if telling him to go ahead and try.

Kim Bong-nam finally realized where and how things had gone wrong.

“Kang Taesu holds 49% of the shares, and we hold at least 48%. Does that make sense?”

There’s no way that only 3% of the shares were released on the market.

Soon, he realized the reason for the wrong conclusion.

“Who is it? Where did the shares leak from?”

Kim Bong-nam glared at the Cheongil executives with eyes that seemed to devour them.

“Who sold Cheongil Motors to another group chairman? Was it you? Or you?”

“Hey, watch your words!”

The Cheongil affiliate presidents 벌떡 [suddenly] rose at Kim Bong-nam’s rude glare.

Finally, a dogfight began between Cheongil’s loyal dogs.

“The former Cheongil Group chairman is staying still, so why are you stepping up to criticize?”

“Cheongil is about to be taken over by Taeyang Group!”

“Wasn’t it Kim Bong-nam who claimed that Cheongil Construction was going bankrupt due to deficits?”

“What? You? Did you just say that? So, did you sell Cheongil Motors shares or not?”

“I sold them! What are you going to do about it?”

The Cheongil affiliate presidents, Kim Bong-nam, and Han Il-kwon began to raise their voices and curse at each other.

“You sold Cheongil Motors shares? Why didn’t you consult with us about such an important matter…!”

“Even if we make a profit, the group headquarters scrapes it all away to build hotels and apartments, and when we’re on the verge of bankruptcy due to lack of funds, they turn a blind eye!”

“What can we do when the chairman is ruining the management and blaming the affiliates? We have to take care of the employees’ salaries!”

“So, you’re saying you did well?”

“What did I do wrong? Are Cheongil Motors shares only with me? Why are you harassing me?”

“You sold them! What are you going to do about it?”

* * *

The people from Taeyang Group watched this situation while eating popcorn and cola.

Kim Gwang-rok was already handing out popcorn and cola to Ahn Jeong-woo and the Prosecutor General.

Ahn Jeong-woo sipped his cola and smiled wryly.

“I didn’t know Cheongil was this much of a mess.”

“Yes, they were fighting like this even before the President-elect arrived.”

“I heard that Cheongil’s loyalists were so loyal that they would even go to jail for the owner family.”

“I guess that’s a thing of the past. Now they’re in such a frenzy that they can’t even stand each other.”

Ahn Jeong-woo glanced at Taesu.

‘This guy, too. He deliberately brought up the 49% stake to see this *kkol* [state of affairs].’

Ahn Jeong-woo, who had been 미리 언질받은 [forewarned] by Taesu, shook his head.

This kind of *akchwimi* [bad taste] is too much.

But how could Ahn Jeong-woo not know that Taesu had been 갈고 있었던 청일 [sharpening his knife for Cheongil] for a long time.

‘He boasted that he would make Cheongil’s loyal dogs bite their owner, and he’s really making it happen.’

Ahn Jeong-woo clicked his tongue.

There was nothing that Taesu had promised that he hadn’t accomplished.

‘To think that he would swallow the 13th largest conglomerate in the business world whole like this. How long has Kang Taesu been preparing for this moment?’

Ahn Jeong-woo had known for quite some time that Kang Taesu was gathering Cheongil Motors shares.

He asked several times why it was Cheongil Motors and not Cheongil Construction, the holding company of Cheongil.

Each time, Taesu gave him the same answer.

-I intend to take away Cheongil Motors.

He simply thought that he was going to create another affiliate that didn’t exist in Taeyang Group.

He thought that he would attack Cheongil Motors because he had a lot of 악감정 [ill will] towards Cheongil.

‘But I never imagined that he would swallow the entire Cheongil Group through Cheongil Motors in this way.’

The more he thought about it, the more 감탄 [admiration] he felt.

The more he knew, the more 철저 [thorough] he was.

‘Kang Taesu, you’re really an amazing guy. Everyone is playing in this guy’s 손바닥 위에서 [on the palm of his hand].’

I couldn’t ask for anything more if he became my son-in-law.

Jang Mal-dong had been 침을 튀겨대며 [frothing at the mouth] to bring Taesu as his son-in-law for a long time.

In his heart, Ahn Jeong-woo also wanted to bring Taesu as his son-in-law.

‘If the two of them were to be together, there would be nothing more to wish for. But there’s no sign of that happening.’

He becomes 욕심이 든다 [greedy].

He endures and endures because his daughter’s happiness lies in being with the man she loves.

The more he does, the more Kang Taesu becomes a 거물 [big shot] that he cannot 잡히지 않는 [catch].

* * *

Kim Bong-nam and the Cheongil executives grab each other by the collar, grab fists, 몸싸움 [physically fight], and roll on the floor.

Taesu silently watched Cheongil’s 개싸움 [dogfight].

Han Il-kwon stepped back from the fight and glared at Taesu.

“Kang Taesu, you…!”

It’s all because of Kang Taesu.

It was all because of Kang Taesu that he was in this *kkol* [state], and that Cheongil’s loyalists were fighting each other like that.

He recalled what Kang Taesu had said before entering the general shareholders’ meeting.

-I can’t miss the moment when you’re kicked out of the chairman’s position.

-I’m going to take away what you have, what’s as precious as your life, what you don’t want to lose.

-You too will be 속수무책으로 [helplessly] taken away by me.

Han Il-kwon clenched his fist and ran towards Taesu.

Then, Kim Gwang-rok, who was eating 사이다 [cider, often used as a general term for soda] and 쿠키 [cookies], subtly tripped Han Il-kwon.

쿠당탕탕 [thump, thump].

Han Il-kwon 볼썽사납게 [unsightly] fell to the floor.

At that sound, Cheongil’s loyalists stopped fighting and 주목 [paid attention] this way.

“Attention.”

The fight 잠시 소강상태에 빠졌다 [subsided for a moment].

Taesu opened his mouth.

“I would like to give you all an 기회 [opportunity].”

“기회 [opportunity]? What 기회 [opportunity]?”

“Have you forgotten that I have 49% of the shares? That too, most of the shares are filled by proxies from banks.”

The ones who were 개싸움 [dogfighting] were 솔깃 [intrigued].

‘If the bank turns its back, we can take back the shares.’

‘It means that Kang Taesu’s management rights are not 탄탄 [solid].’

‘It means that Kang Taesu is also in an 불안정한 [unstable] state that can be 뒤흔들 [shaken] if necessary.’

Only Ahn Jeong-woo, who knew the exact situation, 실소를 지었다 [smiled wryly] in his heart.

‘Oh, Kang Taesu is 작심했군 [determined] today. I don’t know how much he has to 부숴 놓아야 청일 [destroy Cheongil] to be satisfied.’

Taesu shook the documents containing the shares.

“Is there anyone who will swear allegiance to me and put out Cheongil Motors shares?”

캐스팅보트(Casting Vote) [a deciding vote].

The word means the right of the chairman to make a decision when the votes are equal in a 합의체 의결 [collegiate body’s decision].

But it usually means that a matter is decided by a small third force when both sides are 비등 [evenly matched].

“This will be the 마지막 기회 [last opportunity] I give you.”

What does this sound mean?

‘Betray Cheongil…….’

‘It means to 구걸 [beg] for life by selling 충성 [loyalty]…….’

It was an 엄포 [threat] to 배신 [betray] Cheongil in front of Han Il-kwon.