Mining And Construction Tycoon [EN]: Chapter 226

Mining and Construction Tycoon – Episode 226

The Fall of Han Il-kwon (3)

Chairman’s office on the 11th floor of Cheongil Group headquarters.

Tae-soo, left alone, silently stroked the desk with his hand.

His emotions were complex.

‘It’s been a while.’

Old memories flooded back.

In his previous life, Tae-soo had spent 25 years at this desk, overseeing the group’s operations as its head.

He had frequented the chairman’s office at Cheongil Group headquarters for over 40 years, ever since he joined as a new secretary.

But the nameplate always bore the Han surname.

It was the same nameplate as in the past.

Han Il-kwon had been dragged out without even taking his nameplate.

Tae-soo picked up the nameplate and threw it into the trash can.

Instead, he took out a new nameplate he had prepared in advance.

It was the same one he had put up at the Taeyang Building headquarters.

Only then did a smile spread across Tae-soo’s face.

‘In this life, I finally get to put up my own nameplate.’

He was satisfied.

Tae-soo sat down in the chair with a pleased expression.

Han Cheong-ho had even been deprived of the chair he used to use.

‘Han Cheong-ho, I will make good use of the company you built for over 30 years. And everything you have prepared for Cheongil until now.’

Tae-soo stood up.

He pushed the bookshelf located on one side of the chairman’s office.

A secret passage hidden behind the bookshelf appeared.

Ding-

The door to the chairman’s private elevator, which led to the underground information storage room, opened.

The information storage room was located in the basement of Cheongil Group headquarters.

It contained confidential documents amassed through Han Cheong-ho’s extensive bribery of public officials, both high and low.

It was also the place Tae-soo had most meticulously managed in his previous life.

‘From the lowest to the highest ranks, I will make good use of them all.’

* * *

For several days, the entire Republic of Korea was abuzz because of Cheongil.

Newspapers and broadcasters released a series of reports.

People were shocked.

“What? Cheongil Group is disappearing?”

“How did that happen?”

It was a leading group that had risen to 13th place in the business world rankings.

Hadn’t Cheongil made its name known while rebuilding the burnt-down city after the Korean War?

Also, Cheongil’s name had been heard alongside every major event that marked a milestone in Korean history.

But who would have known that it was a company with such big problems that it could be taken over so quickly.

People whispered whenever they gathered.

“Cheongil has been showing signs of decline lately.”

“I heard that Han Cheong-ho led the assassination plot against President Park Jeong-hwan?”

“Even Han Cheong-ho’s son was involved in a drug investigation. But is that true?”

Fueled by the public’s keen interest, Prosecutor General Kim Cha-yeol personally gave an interim briefing on the drug investigation.

-It has been confirmed that former Cheongil Group Chairman Han Il-kwon was involved in drug trafficking.

-Han Il-kwon has formed close relationships with Korean organized crime groups and has actively participated in drug trafficking with the Japanese Yakuza [Japanese organized crime syndicate].

-He has been arrested and is being investigated by the prosecution as a suspect.

It turned out that the second-generation chairman of Cheongil Group was involved in drug trafficking.

The fact that it wasn’t just the president of Cheongil Construction that was the problem was shocking.

People were outraged and shouted.

“Drug offenders should never be returned to society!”

“Execute them! Set an example!”

“Don’t let them off just because they have money! The President has publicly declared it!”

“Good job, prosecutors! Take this opportunity to dig down to the roots and punish them!”

People turned their backs on Cheongil.

A protest was organized and voices were raised in front of Cheongil Group headquarters.

“Why are there drugs in Korea!”

“Why!”

“Punish the drug-specializing company!”

“Punish them!”

That wasn’t all.

People claiming to be victims reported to newspapers and broadcasters.

Shocking! The terrible true face of a second-generation chaebol [family-owned conglomerate] stained with drugs and crime. Is Cheongil backing the organized crime groups?

Cover-ups at the group level. The victims are still trembling.

Did they run Cheongil Hospital because they needed an abortion clinic?

Life is easy? The end of unprovoked assault was a wad of cash and threats.

Naturally, the public’s anger reached its peak.

“The father is a bribery expert, the son is a crime expert!”

“Good riddance! The crime den Cheongil should have gone bankrupt a long time ago!”

That’s how hot the interest in Cheongil was.

Even articles that would normally have been small in the corner of the newspaper were splashed across the front page.

Cheongil Construction goes bankrupt.

The former Cheongil stakeholder group, which has been reduced to a 낙동강 오리알 [Nakdong River duck egg – a Korean idiom for being left out or abandoned], disappears.

The repercussions of Cheongil Construction’s bankruptcy, a symbol of corruption and illicit wealth accumulation in Korea.

The protesters in front of Cheongil Group headquarters were now protesting in front of the Prosecutor’s Office.

This was because Cheongil Group headquarters was empty after moving to Taeyang Group headquarters.

A press conference was held in the conference room at Taeyang Group headquarters.

Tae-soo opened his mouth.

“Our Taeyang Group has made the decision to merge in order to prevent the chain bankruptcy of Cheongil Group.”

Chwa chwa chwa chwa chwa chwa chwa [sound of camera flashes].

Amidst a barrage of camera flashes, Tae-soo opened his mouth.

“If Taeyang Group had not taken on the burden… the Republic of Korea would now be facing a chain bankruptcy crisis originating from Cheongil.”

It was possible for a group ranked 13th in the Korean business world to go bankrupt.

If that had happened, the impact on the Korean economy would have been enormous.

Hadn’t the IMF [International Monetary Fund] crisis in his previous life started with the chain bankruptcy of the 18th-ranked chaebol group?

“Therefore, we have spun off construction, the holding company of Cheongil, which had serious management problems.”

Chwa chwa chwa chwa chwa.

“In addition, since the management status of other affiliates has deteriorated to the point of near bankruptcy, we have launched a large-scale audit and restructuring.”

Chwa chwa chwa chwa chwa chwa chwa.

“Accordingly, we have decided to dismiss the former Cheongil Group executives on a large scale to hold them accountable for poor management.”

Someone raised their hand and asked.

“Is the dismissal of executives a decision of the shareholders’ meeting?”

“Yes.”

“I heard that the former Cheongil Group executives were summoned to the prosecution at the same time as their dismissal. Is it because of the bribery scandal?”

“Yes.”

“Didn’t you take on a huge debt by merging with Cheongil Group? Can you handle it?”

Even raising funds to acquire a single affiliate shakes the foundation of the company.

However, in the case of Cheongil, it was an acquisition of an entire chaebol company ranked 13th in the business world.

So the reporter shouted even louder.

“Aren’t you afraid that Taeyang Group will also go bankrupt due to Cheongil Group’s debt?”

“That won’t happen.”

Tae-soo picked up the stack of documents he had placed on the table.

“Our Taeyang Group has now begun full-scale oil development, and the construction of oil drilling facilities and pipelines is in full swing.”

Chwa chwa chwa chwa chwa.

“We expect to start full-scale oil sales from the second half of next year.”

Chwa chwa chwa chwa chwa chwa.

“It will more than offset the deficit caused by the acquisition of Cheongil Group.”

In fact, there is no deficit caused by the acquisition of Cheongil Group.

Cheongil Motors’ stock price was worthless due to poor management.

Also, unlike Cheongil Construction, it was a neglected stock that affiliate presidents sold off first.

So Tae-soo swallowed Cheongil Group for a pittance.

But would it be right to brag about it honestly?

As criticism of Cheongil Group poured in, Tae-soo spoke with even greater caution.

“Taeyang Group will leap forward to the future in many ways. We ask for your continued support and encouragement.”

Chwa chwa chwa chwa chwa chwa chwa.

It was when Tae-soo was about to put down the microphone.

A reporter shouted loudly.

“With this group merger, you have truly risen to the top of the Korean business world rankings. What are your thoughts?”

Cheongil Group, ranked 13th in the business world, and Taeyang Group, ranked 163rd, have merged.

It narrowly surpassed Samcheong Group and now stands tall as the number one in the business world.

Tae-soo smiled.

“Should we be satisfied with Korea? Taeyang Group’s future will be found in the world.”

It was a bold ambition.

A tremendous camera flash, incomparable to the one a moment ago, went off.

A huge cheer followed, loud enough to echo throughout the press conference hall.

Tae-soo left the press conference hall, leaving the cheers behind.

“All Taeyang Group executives, please gather in the CEO’s conference room on the 27th floor.”

Secretary Song Chang-joon, who was waiting at the entrance, followed Tae-soo.

The same was true of Taeyang Group bodyguards, including Kim Kwang-rok.

Behind them, the heads of Taeyang Group’s affiliates joined in.

Thump, thump.

Taeyang Group executives, led by Tae-soo, crossed the hallway.

The force was so great that people who encountered them in the hallway quickly made way.

Like the Red Sea parting, people parted, and the heads of Taeyang Group walked on, receiving their greetings.

Up to the CEO’s conference room on the 27th floor.

* * *

CEO’s conference room at Taeyang Group headquarters.

Tae-soo was the first to sit in the chair.

Then the heads of the affiliates followed and took their seats.

A nameplate gleamed on Tae-soo’s table.

It was a T-shaped conference room.

Centered on Tae-soo, the heads of Taeyang Group’s affiliates lined up in two rows on the left and right.

Tae-soo opened his mouth.

“Have you all identified the assets and sources of funds held by Cheongil Group for each affiliate?”

“Yes!”

“Have you properly taken over all of Cheongil Group’s employees, operations, clients, and subcontractors?”

“Yes!”

“Has the retraining and personnel transfer of Cheongil employees been completed for each affiliate?”

“Yes!”

“Please cooperate so that Taeyang Group can proceed with its business in earnest without any hindrance.”

“Yes! There’s nothing to worry about!”

“Good.”

He was satisfied.

Tae-soo turned his eyes.

“Taeyang Oil President Noh Il-guk.”

“Yes, please speak.”

“Full-scale oil sales will begin in the second half of next year. We plan to start with domestic crude oil sales before exports. Report on the progress.”

“We plan to expand Taeyang Oil’s crude oil refining and storage facilities until the pipeline construction is completed.”

“What about gas stations?”

“Taeyang Oil has secured enough gas station sites in downtown and highway locations.”

“Good.”

Tae-soo looked at Park Cheol-wan, president of Taeyang Construction.

If you had to pick the person who is taking on the most work in Taeyang Group right now, it would be Park Cheol-wan, excluding Tae-soo.

He is in charge of all construction and civil engineering related to oil extraction.

In addition, he is simultaneously carrying out the construction of Taeyang Apartments, the Jeju Island Industrial Port, and the Gangnam development.

‘There are so many things to report. It will take at least 20 minutes?’

But the first thing Tae-soo asked was something else.

“How far has Cheongil Construction gone into bankruptcy?”

“It is currently in the first stage of bankruptcy. By any chance, are you thinking of acquiring Cheongil Construction, Chairman?”

“What I want is not Cheongil Construction.”

If he wanted Cheongil Construction, he wouldn’t have handed it over to Han Il-kwon.

“Then what do you want, Chairman?”

Tae-soo wanted something else.

There was something else that had to be recovered when Cheongil Construction went completely bankrupt.

“I’m thinking of demolishing Cheongil Apartments and building Taeyang Land there.”

In any case, Cheongil Apartments will become synonymous with shoddy construction and will not be properly sold.

It would be better to tear it down and build something else.

‘I have to unfold the dream that Park Jeong-hwan had crushed again.’

A large-scale amusement park that gives children dreams and hopes will be built in the city center.

This will become an inexhaustible source of cash for Taeyang Group in the future.

“We will also remodel the Euljiro Cheongil Hotel and build a large shopping center nearby.”

What was the reason why Charlotte, which used to be a confectionery company, was able to leap into a chaebol company?

It was thanks to Hotel Charlotte Seoul, located in a prime location, and the Charlotte Shopping Town, lined with duty-free shops and luxury boutiques.

In this life, all of that will be Tae-soo’s share.

But Park Cheol-wan’s face turned pale.

‘Again… again… every time I get a chance, the amount of work increases tremendously…….’

He has been overworked for so long that he is sure to die from overwork if this continues.

Tae-soo stepped in before Park Cheol-wan collapsed from high blood pressure.

“Kim Woo-jin, who completed the Saudi Jubail Industrial Port construction and returned home, will join Taeyang Construction to help with the work.”

The person sitting at the end of the executives jumped to his feet.

“This is Kim Woo-jin. I look forward to working with you.”

He was a man who dreamed of becoming a chaebol group with Daewoon Construction alone.