Mining And Construction Tycoon [EN]: Chapter 91

91. It’s Not Cheongil Heavy Industries (2)

Taesu pointed directly at the president of the heavy machinery company.

“From today, that means I am your boss.”

When you acquire a company, movable and immovable property, along with debts and employees, come along.

Cheongil Oil Refining might have already siphoned off movable assets and employees, but they couldn’t touch Cheongil Heavy Industries.

So, it’s correct that Taesu is now the boss of the heavy machinery president.

“Nonsense! I haven’t heard anything like that from the Chairman!”

From their perspective, it’s natural they can’t believe it.

If Cheongil Heavy Industries was being acquired, Han Cheong-ho would have mentioned it, but there wasn’t a single word about it.

‘There’s no way such absurd words can be true!’

‘Cheongil Oil Refining is one thing, but Cheongil Heavy Industries too? No way!’

Taesu chuckled.

“A three-month pay cut for that statement.”

Lee Chang-won let out a sound of disbelief, “Ha.”

Taesu took out the contract from his pocket and waved it.

“Let’s confirm the contract first and then talk again.”

He held it up in front of the heavy machinery president’s eyes.

“Cheongil Heavy Industries has been acquired by Taeyang as of today.”

The title of the contract he held out was ominous from the start.

As the heavy machinery president snatched it away, the oil refining president clung to it and read it together.

The two presidents were astonished by the acquisition amount and contract terms.

“10 won [approximately $0.007 USD]?”

“The entire debt to Cheongil Group?”

“Cheongil Oil Refining and Cheongil Heavy Industries too?”

“And yet, the Chairman willingly signed it?”

“This is crazy!”

Taesu looked at the two presidents making dumbfounded noises.

Now is not the time for talent acquisition.

It’s time for employee morale training.

‘Lee Chang-won of Heavy Industries, known for his unwavering and relentless drive.’

In the 1970s, heavy machinery factories were operating by importing foreign parts and assembling them in Korea.

But he had an unbreakable belief.

-Only independent technology development is the way to survive!

-We must make Cheongil Heavy Industries the best heavy machinery company in Korea!

He took the lead in technology development and was so passionate that he even ran a separate research institute.

Start preparing for a technology development research institute from next year, and raise the quality of Cheongil Heavy Industries to the fullest within 5 years.

Thanks to that, Han Cheong-ho valued him greatly.

‘But now he’s in a situation where he can’t properly realize his ambitions. He’s having a hard time because of quite a severe conflict of opinion with Han Cheong-ho.’

This time, he turned his eyes to the president of Cheongil Oil Refining.

‘No Il-guk of Oil Refining, so meticulous and tenacious that he even sells the dregs of oil residue.’

Petroleum products filtered out in each process of refining crude oil.

These are sold under various names such as LPG [liquefied petroleum gas], gasoline, kerosene, diesel, heavy oil, lubricating oil, asphalt, and paraffin.

‘No Il-guk clung to refining technology to sell oil even a little more expensively.’

Thanks to that, Cheongil Oil Refining had been increasing its refining capacity since No Il-guk took office as president.

Not only that.

In order to sell a lot of refined oil, they rushed to build gas stations in key locations across the country.

‘There aren’t many gas stations yet, but after cars are distributed to the middle class, Cheongil gas stations will be located in the best spots all over the country. Lee Ja did it all.’

So Taesu was very pleased with the current situation.

Taesu picked up the nameplate placed on the president’s desk.

“Lee Chang-won, President of Cheongil Heavy Industries.”

“······.”

“You’ve seen the contract, so you should properly understand how things are going.”

“······.”

“What are you going to do with this nameplate?”

Taesu tapped the nameplate with his finger.

“I’ll give you a chance to choose.”

Lee Chang-won looks at the nameplate.

“Whether you carve a new nameplate under me, or take this nameplate and return to Cheongil headquarters. You have to choose.”

“A proposal that doesn’t even need to be chosen. Of course, I’ll return to Cheongil headquarters. You impudent bastard.”

Taesu nodded.

“Then let’s do that. You don’t even need a resignation letter, so take this with you.”

Without hesitation, he threw the nameplate at Lee Chang-won.

Lee Chang-won received the nameplate in a daze.

“Even if you go back, I don’t know if there will be a place for you at Cheongil.”

“I am Lee Chang-won of Cheongil. I am a key executive of the Cheongil Group that the Chairman cherishes. Even if it’s not the position of Heavy Industries president, I’m not in a position to worry about a job.”

“That’s what you think.”

Taesu smirked.

“You should know if you’ve seen the contract. How much of a deficit Cheongil Group is carrying.”

It was enormous when all the affiliates’ deficits were gathered.

Lee Chang-won confirmed the amount by passing on the deficits of Cheongil Oil Refining and Heavy Industries.

“What is the state of Cheongil Group now?”

The two presidents swallowed hard.

It was obvious that the situation would be serious.

Taesu pointed out the key points.

“Heavy Industries, which used to bring in a lot of money, has been taken away.”

“In addition to the existing debt, they have to bear the enormous deficit accumulated due to this oil crisis.”

“The factory has to be running right away, but there’s no oil.”

“The money received as the acquisition amount for a company worth hundreds of billions is only 20 won [approximately $0.007 USD].”

It’s breathtaking to hear.

The situation is more serious than imagined.

“Will Cheongil Group eventually go bankrupt in a chain reaction, or will it undergo a massive restructuring, or will it inevitably dispose of its affiliates to other companies to reduce debt?”

The two presidents’ faces changed.

“One of the three is essential. You know that much, right?”

There’s no way they wouldn’t know.

It’s obvious that it will flow as Taesu said.

“Whatever happens, salary cuts and restructuring will naturally follow. Who will be cut during this restructuring? Of course, employees, and even executives who give high salaries will be swept away.”

A bloodbath will blow in Cheongil.

It was a predetermined course from the moment they signed the contract.

“Currently, the board of directors is largely composed of Cheongil’s meritorious servants. They are long-time loyalists of Cheongil who would even go to jail on behalf of Han Cheong-ho if he said the word.”

He’s talking about those who have grown the group with Han Cheong-ho since the Japanese colonial era.

They don’t care about anything if it’s Han Cheong-ho’s word.

They are Han Cheong-ho’s strong support force that cannot be missing in Cheongil.

“On the other hand, how about you?”

Taesu slams the president’s desk.

“You’ve been rapidly promoted to this position in your late 40s. You’re not sitting in this position as one of Han Cheong-ho’s loyalists. Isn’t that right?”

It is a position won by proving ability and skill.

It is not a position bestowed by proving loyalty and trust.

“When Cheongil falters, when affiliates are cut off, when Cheongil is halved with tears in their eyes. Who do you think Han Cheong-ho would keep by his side? A loyalist? Or you?”

The answer is already set.

When a group grows, a capable person is needed.

But in difficult times, you need a reliable person to share the ups and downs with.

“What kind of existence are you to Han Cheong-ho? Can you guarantee it? That even when Cheongil Group is in trouble, he will give you one of the few remaining key positions.”

Lee Chang-won bit his lip.

“I wish Han Cheong-ho would trust you as much as you trust him. What’s the reality? Leaving aside trusting, does he even listen to you?”

He doesn’t even listen with the back of his ear.

If he did, the establishment of the Heavy Industries Technology Development Research Institute would have been done a long time ago.

Taesu smiled, straddling Lee Chang-won’s desk.

“On the other hand, we have the acquisition funds we prepared intact due to this acquisition.”

It’s completely the opposite of Cheongil Group.

We got Cheongil Heavy Industries and Cheongil Oil Refining, worth hundreds of billions, for free for only 20 won [approximately $0.007 USD] without any deficit.

“I’m thinking of using that money to build a heavy machinery technology development research institute, acquire a self-production parts factory, and form a technology alliance with foreign companies.”

Technology development is something Han Cheong-ho would never dream of.

Currently, they are importing foreign parts and assembling and selling heavy machinery like a patchwork.

“Key positions occupied by Cheongil’s loyalists? Your position will probably not be available until they retire.”

Lee Chang-won gave up, saying that he couldn’t help it until the key positions opened up.

Not only is the turf war severe, but the checks are too severe.

The road to the top is blocked.

“On the other hand, Taeyang, which is just starting out, has many vacancies. You can go up as much as you want. The position of Heavy Industries president is not the end.”

Taesu asked one last time.

“Cheongil or Taeyang. The choice is yours.”

Lee Chang-won sensed that the time had come to lower his eyes, lower his waist, and abandon his greed.

“If I choose Taeyang instead of Cheongil, the position is······.”

“Didn’t you hear me earlier? Demotion by one rank.”

Since Taesu is the president, the position that would originally fall to Lee Chang-won was vice president.

“Then, are you saying executive director?”

“Don’t you like it?”

Of course, he doesn’t like it.

It took less than 10 minutes to fall from president to executive director.

But it took more than 10 years to rise from executive director to president.

“I don’t know your abilities yet.”

To be honest, Taesu already knows his abilities well.

He could have given him a higher position if he wanted to.

Because Taeyang is currently severely lacking in talent compared to its increased size.

But Taesu deliberately proposed the position of executive director.

“I want capable people. Don’t beg me for loyalty and a position. Instead, prove your ability and usefulness. You have to win such things yourself.”

Taesu’s request was simple.

“Get the right to speak from me in exchange for handling important tasks. Earn your salary and trust with dignity. You have to come up to the position you want yourself.”

Taesu smiles.

“You have to properly demand it from me then, that you are the only person suitable for that position. That’s the order. Isn’t that right?”

Lee Chang-won’s mind was complicated.

‘Keep your pride and become unemployed, or abandon your pride and become an executive director. But it’s strange. Rather, my heart, which had been cold, is beating.’

Taesu was forcing a choice with silence.

If you’re going to be loyal to Cheongil, get out of here quietly.

‘Has there ever been anyone who made such a proposal to me?’

Lee Chang-won is a talented man.

Of course, there are countless people around him who want to get him and covet him.

What they say is mostly similar.

-Give me your loyalty. Then there will be good things.

-Just trust me and go to the end. Why don’t you know what a good line is.

-Just work hard. Then I’ll pull you up to your position.

They only issue bad checks that they can’t keep.

‘But this man is asking me to prove my ability myself.’

Lee Chang-won felt different about Taesu.

‘He doesn’t promise anything. Rather, he’s encouraging me to get as much as I can from him.’

You can even see the ambition to give anything if you have the ability.

The young friend is more cool and bold than I thought.

‘I can’t believe it even when I’m watching. It’s a sense of pressure and weight that is more than the head of other chaebol [large Korean business conglomerate] companies. It’s heavier than the chairman.’

Lee Chang-won’s heart was pounding.

‘Even if I go back to Cheongil or move to another company, my limits are set. A salaried president can be replaced at any time. Okay, let’s take on a new challenge.’

Get everything with ability and talent, not connections and internal politics.

Just thinking about it makes my heart beat wildly.

Finally, he bowed 90 degrees.

“I will take on the position of executive director of Taeyang Heavy Industries and work hard. Please take good care of me, President.”

“Good. Let’s work well together.”

Taesu nodded.

No Il-guk, who was watching this from the side, took a breath.

‘Lee Chang-won readily accepted the position of executive director of this small company. He’s a guy who could sit in a key position even if he went to another company.’

His eyes are new to seeing Taesu easily get Lee Chang-won.

‘Well. When I hear those words, I clench my fists on my own. Why wouldn’t he?’

No Il-guk was the same, proving himself with ability, not power and tricks relying on lines and loyalty.

No Il-guk repeatedly clenched and unclenched his fist, which he had been clenching tightly without realizing it.

His hands were wet with sweat from how nervous he was.

‘My heart is hot. Like when I first joined the company and was excited while drawing a bright future.’

No Il-guk somehow felt like he was being left out alone.

How does it feel that only his entry colleague and rival in life received a scout offer?

‘I’m just as capable as that guy. I’m confident that I can prove it myself and win it. Why don’t you ask me?’

Then Taesu took something out of his pocket.