Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 117

34th. Underwater Competition (2)

I was determined to acquire Ado Motors, even if it meant mobilizing all the funds I had accumulated in the United States. My actions were swift. I immediately called Park Tae-jin.

[This is Park Tae-jin. Who is this?]

Still polite but stiff, my brother. Hearing Park Tae-jin’s voice brought a smile to my face.

“Hyung, how are you doing?”

[Doryeonnim?]

“Yes, it’s me. How do you like the Hong Kong food?”

[How could I like it, Doryeonnim? I miss Madam Jeonju’s side dishes, haha. How did the acquisition bid go?]

“I got what I wanted. But…”

I told him about the Ado Group issue and my intention to participate in the acquisition bid. I waited for Park Tae-jin’s response. After a moment of consideration, he spoke.

[I think it’s a good opportunity.]

“What’s the basis for that?”

[Chairman and Chairman Geum Seok-ho are old baduk [Go, a strategy board game] friends. When you woke up, Doryeonnim…]

I was speechless when I heard the story of Grandfather and Geum Seok-ho from Park Tae-jin.

“Two hundred billion? For just six more baduk stones?”

[Chairman always loses to Chairman Geum in baduk, but he wins in poker or Hwatu [a Korean card game], haha.]

“Ahahaha…”

I could only let out an awkward laugh. Even the countless ‘Lin-dads’ [players who spend a lot of money on the game Lineage] who would emerge later because of ‘Lineage’ wouldn’t be able to hold a candle to my grandfather.

[Of course, the trade relationship between our group and Ado Group was a more important reason. And Chairman dislikes Chairman Jang.]

“Ah… I see.”

I clicked my tongue after hearing Park Tae-jin’s continued response.

Looking at it coldly, my parents’ death was due to my father’s mistake, but Grandfather blamed Jang Ho-geon for it. Wasn’t it because of Jang Ho-geon that Father became obsessed with cars? So, there was no way he would let Jang Ho-geon take over Ado Motors.

[Chairman Geum is likely to visit Chairman soon. First, meet with Hyung and Hyeongsu [older brother’s wife] and discuss it.]

“Okay, Hyung. Thank you.”

After hanging up, I immediately called Seon Hae-cheol. Claire was visiting Seoul this week, so they must be having a great time. I was sorry, but as the situation was serious, I shamelessly waited for the call to connect.

[Who is this?]

“Uncle, I have something to discuss with you. Is Aunt there too?”

[What’s wrong? You never call on weekends.]

Because I wasn’t usually like this, I could feel anxiety in Seon Hae-cheol’s voice.

“Taehyun and Shinseong are going to try to take over Ado Group soon.”

[What? Are you sure?]

“Yes. I’ll tell you the details when we meet.”

[Okay. Claire! Wake up!]

[Ugh… Seon, I’m tired…]

“Pfft!”

Unlike Seon Hae-cheol, who was shouting urgently, I burst out laughing at Claire’s sleepy mumbling. As soon as I laughed, I heard Seon Hae-cheol clear his throat, and I quickly erased my laughter.

“I’m sorry, Uncle.”

[Sorry for what? You’re a grown adult. We’ll get ready and go now. We’ll meet at the office?]

“Yes, Uncle. See you at the office in an hour.”

After hanging up, I went straight up to the second floor. I had no time or *yeoyu* [leeway/margin] to envy the two’s passionate late-blooming married life.

***

At the Yeouido Standard Capital Korea office, I greeted Seon Hae-cheol and Claire, made them drip coffee, and told them about the Ado Group issue.

“Really? Is that true?”

“Yes. It’s reliable information from where our family will be related by marriage.”

Seeing me answer with a firm expression, Claire shook her head.

“I didn’t think it would be this serious. It’s like Wall Street here too.”

Even if it’s smaller than Wall Street, the Korean business world is also a fierce jungle. I could only complete my revenge by reigning at the top of the food chain in that jungle.

“If what Tae-jin told us is true, it’ll be easy to approach. Chairman and Geum Seok-ho are friends, and if we convert the Ado Motors bonds at Haedong Merchant Bank into stock, we can buy that stock and step in. But…”

Seon Hae-cheol paused for a moment and took a sip of coffee.

“Are you really going to buy 100 percent? Even bringing in Haedong Corporation?”

“Yes. Standard and Haedong Corporation will each acquire 50 percent. If we separate the affiliates later, 50 percent is Uncle’s share.”

Seon Hae-cheol clicked his tongue while looking at me.

“Myeongjin, that guy is so lucky. To receive 50 percent of Ado Motors’ shares as a congratulatory gift for the family separation in advance.”

He said this, but I didn’t want to see Taehyun Group or Shinseong Group, which betrayed our family during the 8.3 Private Loan Freeze [a financial crisis in South Korea], swallow up Ado Motors and Ado Group, which would be revived with public funds.

Trying to acquire a company revived with the people’s tax money at a bargain price is clearly a garbage-like act, but if it’s going to be blind money anyway, wouldn’t it be better for me to take it? Only the size of greed is different; there’s no difference between the common people and the rich.

More than anything.

If our family gets Ado Motors, we won’t settle for the mediocre present. We’ll water it and fertilize it to grow it into a giant tree, so that it’ll be embarrassing to criticize us for using public funds.

Seon Hae-cheol stopped counting on his fingers and stopped *chimeumseong* [clearing his throat].

“Ado Group’s subsidiaries can either be kept as 100 percent subsidiaries of Ado Motors or attached to Haedong Heavy Industries… but the funds won’t be easy. You’re not going to use the money Henry sent, are you?”

“That’s right. I was asked to use the money left over from getting Jang Ho-min involved to invest in Haedong Group’s affiliates.”

Henry and his faction were sending our family their full trust. With billions of dollars worth of construction work pouring in from the Australian and Panamanian mine development, how could they not be interested?

“How are you going to handle the acquisition cost? If you apply red medicine and bandages [a metaphor for temporary fixes] with public funds, you’ll have to pay at least 1.5 trillion won to acquire just 50 percent of Ado Motors’ shares?”

“I think so too. Shinseong or Taehyun would make a fuss even at that level, but for 100 percent, you’d have to pay more than 3 trillion won.”

I took a sip of coffee and asked the two.

“How much liquid assets do we have?”

Seon Hae-cheol looked at my face and nodded with a heavy expression.

“It’s all circulating in the US stock market. We can take it out if you want, but the opportunity cost is too high to invest in Ado Motors.”

“Seon is right, Johnny. The stocks we’re circulating in the US stock market are quickly rising to pre-split prices even after stock splits.”

Claire also showed her reluctance. How could it not be so, since the stocks I picked after going against the river of death [taking a big risk] were like that… Since the couple, who are as precious to me as Park Tae-jin, were against it, there was only one way.

“Let’s hand over half of our Yahoo stock to Henry.”

“What?”

“Johnny?”

Seon Hae-cheol and Claire’s eyes widened. I looked at them and said calmly.

“It’s true that Yahoo’s investment performance is good. But there’s too much volume.”

“That’s true. We have to dispose of it and turn it into cash someday, but the *maemul* [item for sale] is too big. We’re reluctant to release it all at once.”

“I guess so, Seon.”

Claire nodded at Seon Hae-cheol’s answer after a moment of consideration.

We hold a total of 30 percent of Yahoo’s shares.

Reflecting the current stock price, its value is 3 billion dollars. Half of that is 1.5 billion dollars, and to safely receive that much volume while maintaining the stock price’s upward trend, a mega-sized *big son* [big spender/investor] like Henry has to step in.

After a moment of consideration, Seon Hae-cheol asked me.

“Are you confident you won’t regret it? You’ll lose a lot later if the stock price goes up?”

“Even if we leave 15 percent, it’s still 1.5 billion dollars, right? Tell Henry I’ll hand it over right away if he wants it. Henry is like my *sadoneoreun* [father-in-law to be] anyway.”

It’s a profitable deal for Henry and his faction. Isn’t it not easy for them to earn several times more when they’re managing tens or hundreds of billions of dollars? I’ll take this opportunity to distribute the volume to prepare the bullets to use for the Ado Motors acquisition, and I’ll also put Henry in debt.

Hearing my answer, Seon Hae-cheol smiled.

“Anyway, you’re so eloquent. Isn’t that right, Claire?”

“I agree. We should raise our children like Johnny when we have them, hehe.”

Seeing the two laughing affectionately made my heart flutter for no reason. Is it because the time for me to get married is slowly approaching?

“Okay. If we dispose of the stock, it’ll be about 1.3 billion dollars after taxes. How many bullets do you need?”

“The current exchange rate is about 900 won per dollar… Fill it up to 2 billion dollars. Send it to me right away when the time comes.”

“You have a lot of bullets, but you don’t want to reveal your *pae* [cards], right?”

“Of course. Grandfather will scold me if he finds out, hehe.”

Seeing me laugh softly, Seon Hae-cheol and Claire’s eyes widened.

“Seo, *seolma* [no way] you?”

“Johnny?”

“I’m going to join hands with Grandfather in this acquisition battle. If I want to borrow Grandfather’s power, I have to open up, of course.”

Acquiring a large company like Ado Group, which is in the top 10 of the business world, is a problem that goes beyond the realm of economics and is intertwined with the realm of politics.

To appease and soothe the chaotic Korean political world and make the Ado Motors acquisition a success, the power of my grandfather, one of the most powerful people in this country, is essential.

To persuade such a grandfather, I also have to reveal the relationship between me and Standard Capital. Because your grandfather, who will use your power with recognition alone, is not a big deal where trillions of won are moving.

Seon Hae-cheol, who was gaping, and Claire, who was covering her mouth with her hand, nodded. It’s time to reveal it now.

***

Around the time Lee Seong-min and his partner couple decided to take over Ado Group, that Ado Group, which had become the prey of Shinseong and Taehyun, was in a funeral home atmosphere.

“What did the newspaper say?”

“I even fed them alcohol, but they refused both money and women. They all slipped away like loaches.”

“These rotten…”

The guys who manipulate public opinion slipped away. Geum Seok-ho, who was spitting out curses through his clenched teeth, turned his head to another executive.

“What about the bank guys?”

“Th, that’s…”

“Do you think time is rotting away! If you have nothing to say, get out quickly…!”

As Geum Seok-ho burst into a shout, the executive who received the question jumped up and bowed to his waist.

“I, I’m sorry, Chairman! The bank guys aren’t even answering our calls.”

“What?”

Even as Geum Seok-ho couldn’t hide his bewilderment, the executives poured out bad news.

“It seems like they smelled something. I had the subcontractors’ presidents investigate, and they’re trying to recover our loans.”

“Government officials and ruling party politicians are also refusing to meet with us. How much money have they received so far…”

*Kung!* [sound of impact]

“Damn it!”

Geum Seok-ho slammed his fist on the armrest of the sofa. The executives sitting in the lower seats couldn’t say anything and just kept their mouths shut.

It’s been 6 days since the Ado Group criticism articles started pouring out from all the media companies, starting with Joguk Ilbo and Hanyang Ilbo last Monday. They were gleefully criticizing the executives’ reckless management, the creation of slush funds, and the labor union leaders receiving bribes from subcontractors and using defective parts.

Not only that.

Financial circles, political circles, everyone in charge of Ado Group, even Geum Seok-ho’s request for an interview, are being rejected. It’s as if they received someone’s instructions. Geum Seok-ho couldn’t not know who that someone was.

“Myeong Jin-ho, Myeong Seon-gu, Jang Ho-geon…”

Taehyun Group or Shinseong Group have enough reason to covet Ado Group. Isn’t Taehyun Group monopolizing the domestic automobile market, and isn’t Shinseong Group getting a chance to revive Shinseong Corporation’s automobile business division?

Both of them use Hanyang Ilbo and Joguk Ilbo like their limbs, and they have accumulated *inmaek* [connections/network] in the political and business world as much as their long history. Geum Seok-ho, who came from a professional manager of Ado Group, could never surpass that *inmaek*.

“Do I have to *manghaeya* [go bankrupt/be ruined] like this…”

Geum Seok-ho *heuritteotda* [muttered] a self-deprecating voice.

If there’s no place to even try to do anything like now, there’s no chance to use the 548.7 billion won in slush funds that have been piled up so far. They were created to satisfy their greed and protect their positions, but if Shinseong or Taehyun take over Ado Group, they will become a noose that strangles their necks.

While everyone was sighing as if the ground was sinking, one executive carefully opened his mouth.

“Chairman.”

“What is it? Do you have any brilliant ideas?”

Seeing Geum Seok-ho, who raised his head sharply, the executive hesitated.

“Anything is fine! Speak quickly!”

At Geum Seok-ho’s urging, the executive opened his mouth.

“Why don’t you try visiting Samcheong-dong?”

“Samcheong-dong?”

“In the current situation, the only place that will hold Chairman’s hand is Chairman Lee Dae-soo of Samcheong-dong. You haven’t contacted Haedong Merchant Bank yet because of Chairman’s *chaemyeon* [saving face/pride], have you?”

The reason why the executives didn’t contact Haedong Merchant Bank is better known by Geum Seok-ho himself. Wasn’t it because of Lee Dae-soo, who willingly lent a huge sum of 200 billion won to defend management rights when he had to block Shinseong Group’s *masu* [devil’s hand/influence] 4 years ago?

Even if he paid it back with interest, the 200 billion won that Lee Dae-soo lent was *chamyeongjageum* [borrowed-name funds] without a tail. That money has the same face value as the money *jjikhineun* [printed/recorded] on the account, but the actual value cannot be compared.

Because Lee Dae-soo gave out that money with only six more baduk stones as additional collateral, Geum Seok-ho himself and the other executives couldn’t reach out again. But now, he has come to the point where he has to reach out to that Lee Dae-soo.

“*Kkeueung*…” [groaning sound]

“There’s no way, Chairman. The lives of 50,000 executives and employees, including us, and their families depend on you.”

To be exact, the necks of all the executives in this place are on the line, but Geum Seok-ho couldn’t give up here either. There was his own fault towards Lee Dae-soo that he didn’t tell the executives, but now he had to survive to ask for forgiveness and reflect.

Geum Seok-ho stopped *chimeumseong* [clearing his throat] and hardened his eyes.

“I understand.”

Geum Seok-ho swallowed dry saliva and picked up the receiver. The phone number he was pressing was the phone number connected to the study in Samcheong-dong.