Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 200

200. 57th. The New Millennium’s Run (3)

“I would like Director Lee Seong-min’s approval for the appointments of the CEO of GK Electronics and the head of the mobile division, as well as the CEO of GK Telecom.”

The three of them looked back and forth between Sun Hae-cheol and me with puzzled expressions, but I had my reasons.

‘I can’t stand to see GK Electronics and GK Telecom go down the drain. Why did my maternal great-uncle pass away before my maternal grandfather?’

The real reason my uncle died before my grandfather wasn’t the widely known cerebral hemorrhage, but stress-induced brain cancer caused by those two companies.

GK Electronics was headed by Yoo-nam, who wasn’t from an engineering background, and after Yoo-nam was ousted, Joo Chun-ho took over the mobile division, failing to keep up with the smartphone era.

On top of that, GK Telecom got involved in a shady deal between that trashy, old, traitorous Lee Cheol-sang and Huawei, dragging GK Group’s public image through the mud. How could he not get sick?

‘You have to stay alive until we make electric cars, Great-Uncle.’

Whether he knew what I was thinking or not, Oh Hyun-moo cleared his throat.

“Hmm… then we need to know what Director Lee thinks first. Director Lee, who do you think should be appointed as CEO?”

At Oh Hyun-moo’s question, I paused for a moment before opening my mouth.

“It should be someone who is faithful to the essence of the business, someone who puts the interests of the company, the people, and the nation before their own personal gain. For example, Director Jo Kyung-jin, who recently became the head of the washing machine research lab at GK Electronics, fits that description perfectly.”

Director Jo Kyung-jin is known as ‘Mr. Washing Machine’ or ‘Dr. Washing Machine,’ and he has dramatically improved GK Electronics’ washing machine and motor technology.

After developing hit products such as the Twin Wash washing machine and clothing care machines, he rose to the position of CEO and Vice Chairman of GK Electronics, so what more is there to say? The reason I decided to pursue the electric car business of Hae-dong Motors with GK Group was because I believed in Jo Kyung-jin’s potential.

After that, I made detailed recommendations on how to flexibly change the management methods of GK Electronics and GK Telecom, and the three of them cleared their throats, showing signs that they didn’t think it was a bad idea.

Looking at the three of them, I decided to cut to the chase.

“Frankly, I still think that Honorary Chairman Oh Ja-hyun and other advisors have a big influence on the group’s personnel decisions. However, if you receive this deal and recover the semiconductor business, I think the previous generation of executives will also recognize the current generation of executives.”

The worst manifestation of GK Group’s spirit of unity is its personnel management.

Weren’t Yoo-nam and Joo Chun-ho also appointed to key positions in GK Electronics because they were favored by my maternal grandfather? Lee Cheol-sang, who was recruited from a public position, was someone who betrayed everyone’s expectations.

‘I need to change the liquor and the troops this time [idiom for shaking up personnel]. I need to end the reign of my grandfathers with this deal.’

To cut through these complex and intertwined challenges, I proposed the acquisition of Taehyun Electronics to GK Group in the name of Standard. To create the most powerful alliance within Korea that can be mobilized in critical situations.

Perhaps because I hit the nail on the head, the three of them nodded with firm expressions. Among them, Oh Hyun-moo finished his tea and opened his mouth.

“Director Lee, your insight is sharp.”

Without showing any smile or displeasure, I simply bowed my head. Oh Hyun-moo, who was looking at me with a satisfied expression, turned his gaze to Sun Hae-cheol.

“Since it’s a large-scale investment, it seems we’ll have to go through a shareholders’ meeting. However, since you’ve given us such a good proposal, we’ll try to come up with a positive direction as much as possible.”

It was a roundabout expression, but considering GK Group’s culture, it was a strong expression of their will to make it happen no matter what. I hope they do.

***

That evening.

In the conference room of GK Group’s main house, dozens of men from the Oh and Hae families were having a meeting with refreshments in front of them, at the request of Oh Hyun-moo, Hae Soo-chan, and Oh Hyun-joon.

“You have to give Seong-min the right to make personnel decisions for GK Electronics and GK Telecom?”

“Not all of them. Just the right to approve the appointments of the CEO of GK Electronics, the head of the mobile division, and the CEO of GK Telecom…”

Despite Oh Hyun-moo’s calm explanation, someone who was his great-uncle raised his voice.

“That guy is a Lee, not an Oh! Even if he’s Mi-hyun’s only son, how can we let him interfere in our family’s affairs!”

Despite the old-fashioned notion that the blood of a daughter is not treated as family, Oh Hyun-moo did not frown and asked calmly.

“Do you know how we overcame the financial crisis more easily than other groups?”

“What?”

“Even though CEO Sun Hae-cheol gilded our group [praised us] in front of us, he is a close friend of my late brother-in-law and someone who was raised like a son by my in-laws in Samcheong-dong [wealthy neighborhood in Seoul]. That’s why Standard invested dollars in us on generous terms, Great-Uncle.”

When the relationship between Sun Hae-cheol and Lee Dae-soo came out of Oh Hyun-moo’s mouth, the person called Great-Uncle shut his mouth. Isn’t he the head of Hae-dong Group, which has the most cash in the country, and someone who helped GK Group in the big deal situation?

“Moreover, the fact that we sold GK Semiconductor and established GK Display smoothly was also thanks to the advice of Standard Capital and Seong-min’s private contribution. If we had stubbornly refused to let go of GK Semiconductor, our group would have gone bankrupt.”

“Keueung…”

The person called Great-Uncle had no way to refute it.

For GK Group, Hae-dong Group and Standard Capital are benefactors who have helped them overcome crises several times. Considering the favorable proposal that these benefactors have made to join hands with them and try to re-enter the semiconductor business, Sun Hae-cheol’s request was by no means excessive.

“The proposal we have received now is a blessing in disguise. We must accept it because we can join hands with a good partner and re-enter the semiconductor business.”

Even though Oh Hyun-moo pushed to accept the proposal, the shareholders’ meeting, which was also a family meeting, did not reach a conclusion. Oh Hyun-moo moved to the study with his father, Honorary Chairman Oh Ja-hyun.

“What do you think, Father?”

“The conditions are good, but Seong-min is a concern. I’m worried he might make a mistake at a young age.”

Oh Ja-hyun, who was sitting on the sofa, expressed skepticism, but Oh Hyun-moo shook his head firmly.

“Seong-min is an insightful child. The position of strategy consultant at Hae-dong Group, my in-laws in Samcheong-dong didn’t just give Seong-min that title to put a hat on him [give him a meaningless title].”

“What? So Seong-min is really participating in management? In the same position as the elders of that family?”

“If you promise to keep it a secret, Father, I’ll tell you about Seong-min’s true worth.”

Oh Hyun-moo asked his father to keep the secret, just like when they heard part of Lee Seong-min’s secret from Sun Hae-cheol. Oh Ja-hyun, who was looking at his eldest son with a firm gaze, cleared his throat.

“Hmm… I understand. I promise on my name. No.”

Oh Ja-hyun got up from the sofa and sat at the desk. He put a piece of paper on the desk, picked up a fountain pen, wrote something in a flash, and brought it over.

“Is this enough?”

Oh Hyun-moo gave an awkward smile when he saw the confidentiality agreement written in elegant handwriting.

“I’m sorry, Father.”

“It’s okay. If you asked for confidentiality, it must be a big deal. Let’s hear it.”

“Yes. Seong-min is the one who has been promised the position of the next CEO of Standard Capital.”

“What did you say?”

Oh Hyun-moo gave a bitter smile as he looked at his father, whose eyes had widened at his words.

‘He’s just like me.’

###

Oh Hyun-moo received a request from Sun Hae-cheol, who had returned to his office after exchanging greetings and leaving the room, and had a one-on-one conversation. He was unhappy that he had to write a secret request agreement and start, but what Sun Hae-cheol told him was more than worth it.

“Is that true, CEO Sun?”

“Yes. Seong-min has been with Standard Capital since its early days.”

Starting with that shocking statement, Sun Hae-cheol told him that all the major investments, from the yen appreciation speculation in Tokyo to Standard Capital’s infrastructure fund business, the deals in Hong Kong, the deals in the US stock market during the Russian moratorium, and the short selling of the IT bubble collapse, all came from Lee Seong-min’s head.

“Heo, that’s…”

“You won’t believe it. However, everything from our Standard’s investment agreement for the Australian mine railway and port development to Hae-dong Motors, Daejoo Heavy Industries, and GK Group was decided solely based on Seong-min. The chairman in Samcheong-dong also recognizes that and has appointed Seong-min as the group’s strategy consultant.”

Sun Hae-cheol, who was speaking, also believed that it was a near-impossible task. Lee Seong-min, who was born with a silver spoon in his mouth [born into wealth], became the world’s richest man in less than 10 years after the founding of Standard Capital?

“Of course, he is also making remarkable achievements as a strategy consultant at Hae-dong Group. Vice Chairman Lee is doing so well in the heavy industry sector that Seong-min doesn’t have much to do, but you can think of the remaining businesses as being run by Chairman Geum, the three veteran vice chairmen, and Seung-joo hyung [older brother figure] and Seong-min together.”

Sun Hae-cheol told him about the businesses that Lee Seong-min was running with Bae Jae-hoon, Tae Jae-ho, Geum Seok-ho, and Jo Young-chan at Hae-dong Group. Oh Hyun-moo was dumbfounded by the vast scale and meticulousness.

“Heo, hehe…”

“Seong-min is an amazing child, enough to surprise the chairman. Our Standard is also thinking of entrusting the next CEO to Seong-min, but we’re worried that Hae-dong Group will take him away, haha.”

Oh Hyun-moo even forgot to laugh at Sun Hae-cheol’s joke.

###

Oh Ja-hyun exclaimed like Oh Hyun-moo, who had heard Sun Hae-cheol’s words.

“Heo… so that’s why Standard helped us? Because of Seong-min?”

“Yes, Father. The fact that my in-laws in Samcheong-dong said that they would retire from active service at the end of this year is also because they trust Seong-min as much as Vice Chairman Lee, who is a small in-law [distant relative]. If my in-laws think so, the vice chairmen of Hae-dong Group will think the same way.”

Oh Ja-hyun nodded at his son’s words.

“That’s right. My big in-laws in Samcheong-dong are the most cautious people in the business world in this country…”

Oh Ja-hyun, who was slurring his words, hardened his eyes and said to his son.

“Let’s accept the deal that Standard proposed. I’ll tell the other family members. I’ll take Seong-min’s story to the grave too.”

An exclamation burst out of Oh Ja-hyun’s mouth, who said he would keep his promise.

“Ah! From now on, you, Hyun-joon, and Soo-chan will take care of the group’s personnel matters. With Seong-min.”

“Thank you, Father.”

The right to make personnel decisions is the right to prove that you have become the chairman. A smile spread across Oh Hyun-moo’s face, who had finally become a proper chairman.

***

“I leaked it a little bit according to your orders… but isn’t it too much of a stretch?”

I smiled at Sun Hae-cheol’s question when he returned to the office.

“It’s true that I came up with Standard Capital’s core investments and that I’m sure to become the next CEO, but no one knows when that will be. Hehe.”

“It’s not that. The secret, the secret. Even if only that much information leaks out, your father-in-law will be very nervous…”

I waved my hand at Sun Hae-cheol, who was slurring his words.

“The three uncles and my maternal grandfather are all tight-lipped. We even got a confidentiality agreement.”

If those four people had loose lips, GK Group’s true intentions of selling GK Semiconductor well would have spread long ago. Knowing that the four of them were so careful, I leaked my secret to make the deal happen. Only a small part of it, though.

“Certainly, there is a restrained culture flowing in Director Lee’s maternal family. How can they avoid exaggerating advertisements and even hesitate to promote things that are worth boasting about?”

As Park Tae-jin said, GK Group was really conservative about public relations to the point of being frustrating. Things that Shinseong Group would have promoted all over the neighborhood were rejected with the words, ‘Why boast about something that is obvious?’ causing the public relations department and the marketing department to burst.

“Hyung [older brother] is right, Uncle. That means the maternal family is careful about what they say, so let’s trust them and wait.”

Even if it’s a restrained maternal family like that, now that they know that I’m a key talent at Standard Capital, there won’t be any negative results.

***

A few days later.

Lee Dae-soo, who heard the news that GK Group had decided to accept Standard Capital’s proposal internally, called Myung Jin-ho.

“Have you been well, Hyung-nim [term of respect for an older brother or male friend]?”

[How can I be well, this man? Seon-woo is trying to die because of Taehyun Electronics.]

Lee Dae-soo gave a bitter smile at Myung Jin-ho’s voice, which had lost its energy these days due to the division of Taehyun Group.

“That’s why I have something to tell you… The company where our eldest grandson works wants to join hands with our eldest grandson’s maternal family and acquire Taehyun Electronics. The acquisition conditions are…”

Lee Dae-soo explained all the acquisition conditions that his eldest grandson had devised and that his eldest grandson’s maternal family had accepted with open arms. When the explanation was over, Myung Jin-ho’s low exclamation flowed into Lee Dae-soo’s ears.

[Heo… even though they’re taking on all the debt, they’re going to add 2 trillion won to the sale price?]

“Semiconductors are a national strategic industry, so it’s not easy for a foreign capital to hold 50 percent of the shares, right? That’s why I gave GK Group funds and joined hands with them.”

[If that’s the case, wouldn’t it be better to invest directly in us? Why lend money to GK Group while…]

Myung Jin-ho’s voice, which was ringing in Lee Dae-soo’s ears, paused for a moment.

[…It must be because of the car.]

“That’s probably it. There’s also the judgment that it would be difficult to cooperate because we’ve already set up a confrontation, and GK Group is our eldest grandson’s maternal family, and our eldest grandson is also their strategy consultant, so they’re making the judgment to trust and invest.”

Myung Jin-ho’s hollow laughter was heard by Lee Dae-soo, who had hidden the truth deep beyond.

[Hehe… If I had known this would happen, we should have accepted your eldest grandson as a consultant too.]

“It’s not too late now. Seon-gu will do well on his own, so tell Seon-woo to give it a try. When Taehyun Electronics is cleaned up, only construction, trading, shipping, logistics, securities, and department stores will be left, but even if construction is not good, our eldest grandson will help with the rest.”

If Taehyun Electronics is gone, all that will be left for Myung Seon-woo are mediocre companies. Perhaps it was the 余裕 [composure] of the haves, but Myung Jin-ho’s low clearing of his throat was heard at Lee Dae-soo’s soft persuasion.

[Hmm… I understand. I’ll tell him to meet you during the Taehyun Electronics sale negotiations.]

“I understand, Hyung-nim. I’ll visit you when I have time.”

Lee Dae-soo, who put down the receiver, sighed with a complicated expression.

“It seems like a black carriage is running towards Hyung-nim [death is approaching].”

In the phone call just now, Lee Dae-soo sensed that Myung Jin-ho’s life was not long. Lee Dae-soo, who was also retiring from active service at the end of the year, was feeling the change of generations and times.

***

“Yes, Grandfather. Yes. Yes? …No. The more allies, the better. Thank you, Grandfather.”

It was good to acquire Taehyun Electronics, but it bothered me that I was also in charge of Myung Seon-woo’s strategy consultant.

‘This old man, he won’t last long…’

I was very bitter because I knew why Myung Seon-woo had entered the North Korean business because of the rumors that were circulating secretly in the chaebol [large family-owned conglomerate] family, and what the outcome was.

‘I need to find a way…’

After much deliberation, I gritted my teeth.

‘I need to mobilize the allied forces.’

There was still time until the Taehyun Electronics acquisition negotiations. I sighed and said to Park Tae-jin and Sun Hae-cheol.

“Let’s go to America.”