Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 165

165. 47th. Dirty, Sexy Gold (3)

Taking a deep breath, I didn’t sit down even after the briefing ended. I stood up and looked at the five elders, saying,

“Excuse my language, but the financial situation of Daeju Group is utter garbage. The debt alone is 33 trillion KRW [Korean Won], and 7 trillion KRW out of the 10 trillion KRW in capital is an illusion created by playing with numbers. Isn’t that right, CEO?”

Seon Hae-cheol, who was next to me and met my eyes, nodded slightly.

“Director Lee is right. We also looked into it, and Executive Director Park Tae-jin confirmed it with us.”

Following Seon Hae-cheol, Park Tae-jin also spoke up.

“All the information Director Lee has announced now was obtained by bribing employees of Daeju Group’s secretariat. I don’t know the details, but I even heard that they worked through Daeju Corporation’s overseas subsidiary.”

At Park Tae-jin’s words, Go Seung-ju’s eyes wavered for a moment. It was only for a brief moment, but I didn’t miss it.

‘That guy knows roughly about it too. London BFC.’

London BFC.

It is an internal secret organization that hides the losses of Daeju Group by using the characteristics of London, a global financial hub with free financial transactions.

The result of the London BFC’s hard work was the Daeju Group crisis, with a total debt of 89 trillion KRW and accounting fraud of 43 trillion KRW, the largest bankruptcy in human history until the Enron scandal in the United States broke out. As I was thinking, my jaw clenched involuntarily.

‘Stop when I send a warning with the gold collection, Kang Oh-jung. Then I won’t touch London BFC and take only the minimum.’

While I was internally listing the affiliates to take from Daeju Group, I heard Bae Jae-hoon’s voice.

“The priority at this meeting is to discuss how we can absorb the gold that will be poured out through the gold collection as much as possible. Since the gold purchase plan and the preparation for its aftermath seem sufficient, let’s end the meeting here today.”

With Bae Jae-hoon’s declaration of the meeting’s end, everything was neatly decided. I heard from Jo Young-chan that my grandfather had the same idea as me, so now I need to look back at the US business.

***

That evening.

Lee Dae-soo, dressed in a suit, was sitting in the back seat of a car heading to the main branch of the Korea Hotel.

“Hehe, that guy…”

Whether it was telepathy or because he had heard Lee Seong-min’s plan to stop Kang Oh-jung’s rampage at Daeju Group by using the gold collection campaign, Lee Dae-soo couldn’t stop chuckling.

The car stopped at the hotel’s main entrance, and Lee Dae-soo, wearing a black fedora, opened the door and stepped out, carrying a paper bag containing a bottle of Romanee-Conti [a prestigious and expensive wine], a gift from Lee Seong-min.

“Welcome, Chairman.”

“Welcome, Grandfather.”

Lee Dae-soo smiled contentedly at the greetings of Jang Ha-yeon and Jung Chang-ho, who were waiting in advance.

“Thank you for coming out to greet me, hehe.”

Lee Dae-soo got into the elevator with the guidance of Jang Ha-yeon and Jung Chang-ho. As the door closed and the elevator went up smoothly, Lee Dae-soo opened his mouth.

“CEO Jung.”

“Yes, Chairman.”

“I hope you’re not upset that you’ve joined our group.”

Jung Chang-ho was taken aback by Lee Dae-soo’s comforting voice.

“No, Chairman! How dare I be upset with you, Chairman?”

“Come on. You and our Seong-min’s father-in-law are like brothers, so how can you not be upset?”

Lee Dae-soo said to Jung Chang-ho, who couldn’t answer his question.

“After merging Korea Hotel with Haedong Corporation, we’ll bundle the resorts and golf courses under Haedong Corporation with Korea Hotel. Even though you’ll be under Haedong Corporation’s subsidiary, you’ll be in charge of the leisure business and nurture it well. Teach our daughter-in-law hard too, hehe.”

“Ch, Chairman?”

Jung Chang-ho couldn’t speak at Lee Dae-soo’s warm laughter.

Combining Korea Hotel and Haedong Group’s leisure business would create the largest leisure company in Korea, and he would entrust it all to him… Jung Chang-ho was endlessly grateful to Lee Dae-soo for showing kindness to him, a mere manager.

“…Thank you, Chairman. I will do my best until I retire.”

“The day you retire will be the day you go to God’s side. If you’re too tired, you can step down from the front line, but take on the role of an advisor, hehe.”

Lee Dae-soo, who made a playful joke and patted Jung Chang-ho on the shoulder, now spoke to Jang Ha-yeon.

“Our daughter-in-law should learn hard under CEO Jung. There’s no one as meticulous and detailed as CEO Jung, so you’ll gain a lot of knowledge, hehe.”

“Thank you, Grandfather. I will learn hard and grow it into a company that suits Haedong Group.”

Jang Ha-yeon said, looking at Lee Dae-soo with eyes full of emotion. She was grateful for her grandfather-in-law’s thoughtfulness in embracing Jung Chang-ho, who had taken care of her like his own daughter.

“Yes, yes. Hehe.”

While Lee Dae-soo was patting Jang Ha-yeon’s shoulder, the elevator stopped with a ding. Lee Dae-soo, who came out of the elevator, entered the room through the door opened by Jung Chang-ho.

“Chairman, Haedong Group Chairman Lee Dae-soo has arrived.”

At Jung Chang-ho’s words, Jang Ho-gun, who was sitting on the sofa, stood up.

“Happy New Year, In-law.”

“Happy New Year to you too, In-law, hehe.”

Lee Dae-soo and Jang Ho-gun exchanged greetings, and Jung Chang-ho and Jang Ha-yeon bowed to the two after greeting them, then left the room.

Following them, Oh Hyun-moo, Chae Jung-hyun, and Myung Jin-ho arrived in order, and the heads of the five largest groups in the country sat around the table, cutting thick and large steaks and having dinner.

The five people ate only meat without saying a word and emptied the Romanee-Conti in their glasses, finishing their meal without saying a single word.

“What are you going to do with the gold collected through the gold collection campaign?”

As Lee Dae-soo started talking after finishing his meal and rinsing his mouth with wine, a groan came from the mouths of the four people.

“It’s a pity, but our circumstances are different from yours, Chairman Lee. You’ve already handed over some shares to Myung-jin and Seong-min, and you just need to split up Haedong Corporation, right? I… it gives me a headache just thinking about it.”

Myung Jin-ho’s face was full of displeasure.

He was groaning because of his children’s inheritance and his siblings’ separation, but Taehyun Corporation, one of the main pillars of the group’s governance structure, was targeted by Kim’s comprehensive trading company restructuring, wasn’t it?

“That’s right, In-law. Shinseong Corporation is barely holding on right now. To get even a little breathing room, we need to buy and sell gold to generate profits.”

Jang Ho-gun was just as frustrated.

If he handed over Korea Hotel to Jang Ha-yeon alone, 1 trillion KRW would come in, but he was still busy buying Shinseong Corporation shares under the names of his three children. There was no easier way to avoid the restructuring knife than to buy and sell gold to generate sales, as tempting as dried persimmons were to eat right away.

“I’m sorry, In-law. I think it will be difficult for us too. Even if we put the government aside, there’s no way to meet the IMF’s [International Monetary Fund] recommendations.”

As soon as Jang Ho-gun’s refusal, which was close to an excuse, ended, Oh Hyun-moo bowed his head with an apologetic expression.

He was grateful for Haedong Group’s help in many ways, but to save GK Corporation, in which nearly 40 percent of the shares were held by relatives, he had to go against Lee Dae-soo’s wishes. As the third direct descendant of GK Group, which values ​​morality, he couldn’t feel comfortable.

“Thank you so much for selling us dollars, Hyung-nim [term of respect for an older brother or senior colleague]. But if you back out this time too, our group’s position will be difficult. You know? How our group grew.”

Chae Jung-hyun of SG Group also showed a troubled expression.

Chae Jung-hyun was sick and tired of the internal finger-pointing in the business world that he had grown the group by selling his son to the military. Even if he was criticized by the public, he thought it would be better to show that he was a member of the business community this time.

Lee Dae-soo, who was listening to the internal circumstances that each of them had expressed, opened a new bottle of wine and got up from his seat to fill the glasses of the four people. He filled the wine as neatly as if he didn’t need a sommelier, and only after filling his own glass with wine did he sit down.

“I want to make the glass I just filled not a bitter cup, but a celebratory one. Would you allow it?”

With the thud of the wine bottle being placed, the four people’s heads began to turn. Among them, the eldest, Myung Jin-ho, was the first to speak.

“What do you mean by that?”

Lee Dae-soo chuckled at Myung Jin-ho’s subtle gaze, which asked with his mouth but held expectations.

“Hehe, why are you acting like that, Hyung-nim? Don’t you expect me to play the role of a sponsor?”

“Even though I’m messed up from drinking, I can’t fool you, euhehe.”

At the hearty laughter of the two, the alcohol that was about to rise in the remaining three people subsided. Wasn’t it likely that what they had come out hoping for would become a reality?

“In-law?”

“Hyung-nim?”

Lee Dae-soo, who looked around at the three people who called him according to their relationship with him, sighed lightly with a smile.

“That friend Seon Hae-cheol told our grandson. He asked if we could buy the gold we collect with the dollars in Haedong Securities and entrust it to the Bank of Korea.”

Myung Jin-ho’s eyes sparkled as he listened.

“Is that true?”

“Why would I lie in front of you, Hyung-nim? I’m getting old, so I’m getting careless, hehe.”

Even if it was a lie, even if he used the excuse that he was getting old, Lee Dae-soo made a good-natured laugh. Wasn’t it a matter of the future of his family and group?

“We will collect the gold we collect with the 2 billion dollars held by Haedong Securities. If there is no tax evasion, we will add 20 percent to the international market price based on the dollar. How is it?”

The current gold price is around $9,500 per kilogram of 24k [pure gold]. Would he calculate it in US dollars by adding 20 percent to that value?

Since the gold collected domestically can be collected in Korean currency, Myung Jin-ho’s mouth was torn wide open.

“That friend Seon Hae-cheol is quite useful, but your eldest grandson also thought well. It’s better than holding on to dollars. Isn’t it a matter of making money and gaining a reputation? Hehe.”

At Myung Jin-ho’s hearty laughter, Jang Ho-gun cautiously opened his mouth.

“I will also collect gold and hand it over to Haedong Securities. I have to take care of my son-in-law, hehe.”

“You thought well, In-law. Thank you.”

Lee Dae-soo’s expression softened even more as he confirmed that Shinseong Group would also accept it. Oh Hyun-moo, who was looking at Lee Dae-soo softly, opened his mouth as if he couldn’t lose to Jang Ho-gun.

“Representative Seon is Representative Seon, but Seong-min’s guts are really… it’s like looking at a brother-in-law, In-law.”

“That guy takes after his father and is extremely devoted to respecting his elders, hehe.”

Lee Dae-soo, who was laughing heartily with Oh Hyun-moo, looked at Chae Jung-hyun and opened his mouth.

“Our eldest grandson told me to tell you. He said that he didn’t just step in because of greed when he sold the oil company to me, so please take good care of him. Please take care of him.”

As Lee Dae-soo bowed his head, asking for understanding about the acquisition of Shinseong Group’s petrochemical division, Chae Jung-hyun jumped up and waved his hand.

“Don’t do that, Hyung-nim. It’s over last time, so why are you doing this… Anyway, you have a good grandson. All my kids are busy taking money from their grandfathers and fathers, hehe.”

“Soothe that sorrow by hearing good things from the people, hehe.”

Lee Dae-soo, who had gathered the opinions of the people in the room, cleared his throat and cleared his throat.

“This crisis will never be easy to get out of. Several more houses will have to collapse to end it.”
A groan leaked from the mouth of Myung Jin-ho, who narrowed his eyes.

“The second son, who is in charge of the shipping business, sold nearly twenty ships besides the one he sold to Representative Tae. When I ate breakfast after selling it, the smell of alcohol was all over him. He can’t even drink well… Hooo-.”

Myung Jin-ho sighed as he recalled the first time his most beloved son, Myung Seon-woo, one of the next group successors, had broken down.

“We’re dying too, Chairman. Retirement pay, severance pay… We’re barely managing to keep the semiconductor business going.”

Jang Ho-gun also groaned, although he didn’t mention the sale of Korea Hotel and Shinseong Motors.

There were mountains of things to invest in, but the money supply was cut off. He was tossing and turning at night, worried that even the semiconductor business would fall behind, and recently he had even been sleeping in separate rooms from Hwang Na-yeon.

“We’re in a better situation than the other two groups, but it’s still daunting. How is Chairman Chae?”

GK Group, which was in relatively good shape thanks to the favorable investment from Standard Capital compared to the two groups, but restructuring was inevitable. At Oh Hyun-moo’s question, who revealed his worries, Chae Jung-hyun shook his head with a heavy expression.

“Since cars don’t run on the streets, oil isn’t selling. I’m barely holding on because of the telecommunications business, but it’s not good at all. It’s like a famine.”

The four people who had revealed their inner feelings envied Lee Dae-soo, the only person in this place who was expanding unlike themselves, who were tightening their belts. Didn’t he stand up as if he had been waiting for this day to come?

Lee Dae-soo, who noticed their feelings, cleared his throat.

“We are also trying to do our best to keep our manners. That’s why we prepared this place today.”

Everyone nodded at the words of Lee Dae-soo, the ‘Samcheong-dong Tiger,’ who tries not to make enemies but is scary when he becomes one. Lee Dae-soo looked at them and said with a smile.

“Let’s all do well. We can’t be the ones to get cut down.”

Everyone knew what Lee Dae-soo’s words meant.

For the five groups in this place to survive,

The Daeju Group, which is not in this place, must be killed.

***

The next morning.

As I was getting into the car to go to work, I received a call from my grandfather and turned towards Samcheong-dong. I went up to the study and listened to the results of last night’s meeting while drinking tea with my grandfather.

“Thank you, Grandfather.”

“What thanks? Everyone has made a profit of 20 percent in a month’s business, so they shook hands, euhehe.”

‘With this, the chaebols [large family-owned business conglomerates] won’t be said to have cheated the people by collecting gold. Except for Daeju Group.’

I felt relieved to see my grandfather’s smiling face as he laughed heartily. The gold that would have been used for dirty secrets has now been used in a better place, hasn’t it?

As a smile spread across my face at the changed dirty history of the gold collection campaign, my grandfather said with a gentle smile.

“Money is a means. Some people may call you and Vice Chairman Jo crazy, but for merchants like us, reputation is more important than money. Never waver.”

“Yes, Grandfather. I will keep that in mind.”

Even without my grandfather’s order, I was going to listen to such petty people’s words with one ear and let them flow out with the other. Why?

‘Anyway, gold will rise to around $60,000 per kilogram of 24k. If we get through the foreign exchange crisis, we have to keep collecting it.’

In the future, I will continue to accumulate gold in Haedong Securities.

Gold, a dirty and ecstatic thing depending on its use, will be a treasure that attracts more people to Haedong Securities.