Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 121

121. 36th. The Intricate Behind-the-Scenes Maneuvering (1)

Just as I had shaken off my feelings of resentment towards my grandfather, Sun Hae-cheol exclaimed.

“Ah! I almost forgot!”

Sun Hae-cheol rummaged through his desk drawer, pulled out a document envelope, and handed it to me.

“What’s this…?”

“Claire said she found a pretty interesting company. She gave it to me when she came last time, but I forgot to give it to you.”

I tilted my head, but opened the envelope and examined the documents inside. The cover read ‘AMAZON’.

“Amazon.com?”

“Oh, you got it right away? Hehe.”

Whether Sun Hae-cheol laughed or not, I couldn’t hear or see anything else. ‘They must be preparing for the IPO [Initial Public Offering] by now, and she’s bringing me this company…’ I thought.

“As you can see, it’s an online bookstore, but it will grow enough if you increase the number of items you sell.”

“Ahahaha… More than enough. More than enough, hehe.”

I was momentarily startled by Sun Hae-cheol’s words, then let out an awkward laugh. Even though he didn’t say the word ‘e-commerce,’ it was amazing that he pinpointed the direction so accurately. But Amazon.com, which will exceed a market capitalization of over $1.5 trillion, will ‘grow enough?’

Sun Hae-cheol tilted his head at me.

“Why? Don’t you like it?”

“No. I like it. I also think it will grow if we increase the items like you said, Uncle. Definitely.”

Sun Hae-cheol’s expression relaxed when I answered with emphasis.

“Okay. The investment decision has been made… They say it will be listed on May 15th. What are you going to do? They expect the market capitalization to be around $1 billion.”

“Let’s buy it when the volume is released after the IPO. If we participate in the public offering, the offering price will be too high.”

Standard Capital is now a company with an increased reputation. If we rush into the public offering, the offering price may skyrocket due to price or non-price factors, so it is much cheaper to receive the volume that will be poured out after the IPO or meet with other institutional investors and trade.

“What’s the target volume?”

“35 percent. And recommend Henry to keep about 15 percent.”

The total amount to be taken is 50 percent. Sun Hae-cheol’s mouth dropped open at my order.

“That much?”

“Yes. Think of it as a 20 or 30-year long-term investment. Henry will have to take care of other investors, but tell him to think about passing it on to Claire and Uncle, hehe.”

Later, the value of that 15 percent stake will easily exceed $200 billion. It will be a very distant future, but it will be enough to repay the debts I owe so far.

In addition, I spent the morning taking care of American company matters, such as deciding to secure 30 percent of new shares in BlackRock, which is still a private company but will become the world’s largest asset management company in the future, for $500 million by rotating existing liquid assets, and then had lunch. As I was grinding coffee beans with a hand mill to make drip coffee with Sun Hae-cheol to chase away sleepiness, the phone rang.

“Yes, yes, Grandpa. Now? Yes. I understand.”

Sun Hae-cheol, who was drinking coffee, took the cup away from his mouth and looked at me.

“Is that Chairman?”

“Yes. But… he said he’ll send a car, so I should take it and come?”

Even after hanging up the phone, I tilted my head, a strange feeling settling in. If it were my grandfather, he would have just told me to come…

###

Sun Hae-cheol and I arrived at the Haedong Corporation’s Incheon warehouse in a shabby car sent by my grandfather through the head butler. I felt strange as I got off in front of the Incheon warehouse, where the warm sun was shining.

‘I died here, and I’m coming here again…’ I thought.

I don’t know why I came here, but coming to the place where I died made my blood boil again. It was because Jang Yong-jae and Jang Su-yeon, who killed me and Park Tae-jin, came to mind.

‘They’re not even worth scattering as chicken feed…’ I thought.

Like the main character in a crime movie that will come out in about 10 years, I wanted to put those bastards in a grinder from the head and grind them up.

Even so, I will endure it.

Because it would be worse than living without dying, struggling in pain and despair, and being eaten by that pain and despair, living as a living but not alive cripple.

The head butler approached me as I got out of the car and gritted my teeth.

“You have to go in that car, are you okay, young master?”

The head butler pointed to a van with all the windows darkly tinted.

“There must be a lot of eyes watching.”

The fact that they are moving so cautiously means that something big is happening. It seemed that my grandfather did not want to show that I was involved in the group.

“Both groups know about the chairman’s and Chairman Geum’s friendship, so it’s unavoidable. Please understand, young master.”

Looking at the head butler who bowed his head, I smiled.

Looking at the Incheon warehouse and the van, I was reminded of what I had been doing all this time. It was new to me to be in a position to be able to take revenge in the place where I had lost everything.

As I hesitated to get in the car and was lost in thought, looking at the Incheon warehouse with a face full of emotion, the head butler glanced at me and asked.

“Perhaps… are you still holding a grudge about what happened three years ago?”

“What happened three years ago?”

I tilted my head and asked at the absurd question, and the head butler stopped hesitating and said.

“I didn’t tell you about the lipstick stain on your face during the department store consulting with Executive Director Jang Ha-yeon…”

“Ah, that happened.”

That was already three years ago. I chuckled and said.

“The chairman has to laugh sometimes. Wasn’t that why?”

“As expected, you are the young master. I am grateful that you understand my intentions, haha.”

As expected of someone who has spent decades in our family, his ability to gloss over things was excellent. I smiled at the head butler, who had an embarrassed smile.

“I will make a lot of things for Grandpa to laugh about in the future. Let’s go, Head Butler.”

Sun Hae-cheol, who was next to me, put his hand on my shoulder and smiled.

“You’re the most filial grandson, hehe. Shall we get in?”

“Let’s do that, hehe.”

I sat in the back seat of the van with the two of them and headed to Samcheong-dong.

***

Let’s rewind the clock for a moment.

Unlike the bright morning sunshine, the faces of Geum Seok-ho, who was sitting on the sofa, and the executives sitting in the lower seats had turned dark.

“It’s no longer possible, Chairman. Haedong Merchant Bank exchanged 250 billion won [Korean currency] for 5 percent of Ado Motors’ shares, but it’s like throwing eggs at a rock. If we can’t stop the promissory notes and bonds that will return next month, the first default will begin.”

“We must prevent the default, Chairman. If we can’t prevent it, the second default and the final default… then it’s all over.”

“We must sign a default moratorium agreement with the creditors now. Even if we have to use slush funds [secret funds for illegal or unethical purposes]…”

Bang!

Geum Seok-ho slammed the armrest of the sofa at the executives’ outcry.

“Use slush funds? Where? Where!”

Everyone shut their mouths at Geum Seok-ho’s roar.

Even if you have a basket of jewels, you have to string them together to make them valuable. Politicians, bureaucrats, the media, and the financial sector all refuse to contact the Ado Group, so where can we use the slush funds?

A heavy silence pressed down on everyone in the chairman’s office when a phone call came.

“I’ll take it, Chairman.”

“No. I’ll take it.”

Geum Seok-ho, who raised his hand and sat the executive down, picked up the receiver.

“…Chairman?”

The shadow disappeared from Geum Seok-ho’s face, and the eyes of the executives watching him widened. Who in this situation would the head of the Ado Group, one of the top in the business world, call ‘Chairman?’

“Yes. Yes… No! I’ll go right now! …Thank you, Chairman!”

“What’s going on, Chairman?”

“Could it be… is Chairman Lee helping us?”

“How much did he say he would help us, Chairman?”

The executives’ questions poured out as Geum Seok-ho put down the receiver with a bright expression. If Lee Dae-soo, who has the most cash in this country, steps in, isn’t that grabbing a solid lifeline?

“Let’s have the meeting again after I go to Samcheong-dong.”

Geum Seok-ho quickly got up from the sofa and ran out of the chairman’s office. His footsteps, running for the first time since becoming chairman, felt urgent.

***

Geum Seok-ho left the Ado Group’s headquarters in a shabby car that Lee Dae-soo had sent. Geum Seok-ho, who changed to a van at a Korean restaurant in Seoul due to security concerns, entered Samcheong-dong.

Geum Seok-ho, who was wearing a shabby jumper, sunglasses, a beret, and a mask prepared in the car, arrived at the main building’s study in one breath as soon as he got out of the car. Sitting on the sofa, he looked at Lee Dae-soo with desperate eyes.

“Will you… help us, Chairman?”

“No. I can’t afford to help you right now. How can I help you when I’m busy taking care of myself?”

Geum Seok-ho’s face contorted at Lee Dae-soo’s refusal, who smiled.

“Why did you call me if you weren’t going to help me? Are you making fun of me right now?”

Unlike Geum Seok-ho, who was panting, Lee Dae-soo clicked his tongue at him.

“Hey, what’s with the temper? Do I look so free that I’m calling busy people to play around? Especially with you?”

To be honest, Lee Dae-soo was the most carefree person in Korea in Geum Seok-ho’s eyes. Other groups are drying up and collapsing, but the Haedong Group has overflowing cash, including dollars, right?

But.

Geum Seok-ho, whose own situation was more urgent, wanted to hear the answer he wanted. His insides were so burning that the warm teacup was emptied in an instant.

“Then…?”

“I can’t help you right now, but I found a substitute who will step up first.”

“Really?”

“Yes. I had a hard time persuading that friend, hehe.”

Geum Seok-ho was surprised again. The great Lee Dae-soo had a hard time persuading someone else?

“Who is it, Chairman?”

“Before that… give me the slush funds you’ve collected.”

“Yes? Th, that’s…”

Geum Seok-ho trailed off at the mention of slush funds again, and Lee Dae-soo frowned.

“Why? Don’t you want to? Then the only place you can go is prison. If that friend doesn’t step up, it’s certain that Shinseong or Taehyun will take over Ado, but will your slush funds or even your necks be left intact?”

Lee Dae-soo, who was looking at Geum Seok-ho with sharp eyes shining in his indifferent expression, clicked his tongue.

“Tsk tsk tsk… you still haven’t come to your senses. You can only choose one, you fool.”

“…I understand, Chairman. I’ll hand it all over.”

Geum Seok-ho gave up because it was better to give up money if he had to give up one of freedom and money.

“You’ll have to give me 548.7 billion won in slush funds without missing a single 10 won. I’ll wash that money and spread it in Gwanghwamun, Seocho-dong, and Yeouido [major districts in Seoul], and reinvest the rest in the Ado Group. Don’t be stingy.”

“…Yes, Chairman.”

“I’ll guarantee you a 10-year chairman position. I’ll guarantee the terms of the executives appropriately, so don’t embezzle in the future.”

Geum Seok-ho reluctantly answered, perhaps because he still regretted the slush funds, and Lee Dae-soo, who comforted him and gave him a stern warning, pressed the intercom button.

“Come in.”

As soon as he finished speaking, the door opened, and Geum Seok-ho’s eyes widened when he saw the man who came into the reception room.

“Y, you are?”

Geum Seok-ho stuttered. Isn’t that Sun Hae-cheol of Standard Capital, who debuted in Korea while trading with the Haedong Group?

“CEO Sun Hae-cheol of Standard Capital. He’s my eldest son’s best friend, and a friend I raised like a son.”

Geum Seok-ho’s eyes widened even more at the sound that Lee Dae-soo raised him directly.

“Then…?”

“Standard is not my company. If it were, why would I bother with this? Sit down, CEO Sun.”

“Yes, Chairman.”

Sun Hae-cheol, who sat down, smiled at Geum Seok-ho.

“Nice to meet you, Chairman Geum Seok-ho.”

“Nice to meet you, CEO Sun. I heard you’ve been working hard since last year, but I’m only meeting you now, haha.”

Geum Seok-ho got up from his seat and shook hands with Sun Hae-cheol. After shaking hands lightly, Sun Hae-cheol took out a file from his bag and handed it to Geum Seok-ho.

“This is the Ado Group acquisition scenario prepared by our side. Please take a look.”

Geum Seok-ho opened the file that Sun Hae-cheol had received. Before long, Geum Seok-ho’s hands were trembling.

“Ch, Chairman?”

“There’s no need to be surprised, Chairman Geum. Do you remember when Brother Byung-ho and Brother Jin-ho backstabbed me and gathered the chairman rascals to have a drinking party during the 8.3 debt freeze [a period of economic crisis in Korea]?”

How could Geum Seok-ho not know? He had heard about it often whenever he was called by Lee Dae-soo and came on weekends to have a drink during the day.

“How could I forget, Chairman. Still, the atmosphere is unusual now, so why is Standard trying to step up while taking such a loss?”

Geum Seok-ho couldn’t understand this scenario at all. What grudge does Standard Capital have against the Shinseong Group that they are so eager to make Jang Ho-geon’s dollars all into won? Even while converting their 2 billion dollars into won.

Lee Dae-soo chuckled at Geum Seok-ho, who was gaping.

“If you don’t understand, just accept it, you fool. Still… you’ll have to get your hands dirty and bloody with restructuring according to this scenario, so you should know. CEO Sun, tell him.”

“Yes, Chairman.”

At Lee Dae-soo’s order, Sun Hae-cheol composed himself and opened his mouth.

“Standard Capital’s total assets under management are $15 billion. We can easily burn about $2 billion to get bigger profits.”

“F, fifteen billion dollars?”

Unlike Sun Hae-cheol, who answered calmly, Geum Seok-ho’s mouth dropped open. Isn’t that money enough to get rid of all of Ado Motors’ debt? But it was too early for Geum Seok-ho to be surprised.

“$2 billion is nothing to American investors. If merchant banks, except for Haedong Merchant Bank, are busy repaying dollar loans, converting dollars into won and investing in Korea, what better debut could there be? Haha.”

It is certainly true that merchant banks are losing their minds repaying dollar loans. Still, to convert $2 billion into won at once and enter the Ado Motors acquisition battle…

Unlike Geum Seok-ho, who was feeling empty at the different level of debut, Sun Hae-cheol took a sip of black tea and said calmly.

“There are also those things, but our Standard Capital has no intention of sticking to profits for the next 10 years after acquiring Ado Motors.”

“Wh, what are you talking about? You’re not going to take profits?”

“After receiving public funds, Ado Motors will definitely become a good company. Rather, we should invest more to grow the company.”

Geum Seok-ho’s eyes widened at Sun Hae-cheol’s calm answer.

“Wh, what about the investment recovery?”

“Don’t worry, Chairman Geum. You can list it and collect it when Ado Motors has grown enough, haha.”

To Geum Seok-ho, Sun Hae-cheol, who was laughing heartily, looked like a madman. What crazy investment company pours money into a manufacturing company, grows the company, and then recovers the investment?

Lee Dae-soo, who was watching Geum Seok-ho’s dumbfounded expression as if enjoying it, said in a languid voice.

“What are you so surprised about, you fool? There’s a well-known internet company in the US called Yahoo, and Standard invested hundreds of billions of won from the beginning to grow it. Isn’t that right, CEO Sun?”

“Besides that, we’re also investing quite a bit in Pixar, SoftBank, Oracle, Cisco, etc., haha.”

“Did you hear that? Our Haedong will also invest in your company, but where else would you find an investor like this?”

Seeing Geum Seok-ho, who had closed his mouth, nodding, Lee Dae-soo said.

“Anyway, you leave only the necessary affiliates and liquidate everything. Send all the slush funds to Standard after laundering them with Chief Secretary Go. I’ll take care of coaxing Brother Jin-ho to make Ho-geon’s dollars into won.”

If it goes according to the scenario, it would be thank you for Geum Seok-ho. He can deal with the old man Myung Jin-ho and the fox-like Jang Ho-geon, who are trying to knock him down.

Instead, he had to go under the Haedong Group, but that was more comfortable for him. Isn’t Lee Dae-soo’s Haedong Group a solid rein that will hold him back? So that he doesn’t make mistakes again by being blinded by greed.

There is nowhere to retreat and nowhere to rely on anyway. Geum Seok-ho got up from his seat.

“I’m in your care, Chairman.”

Lee Dae-soo and Sun Hae-cheol’s lips curled up as they watched Geum Seok-ho bow 90 degrees.