Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 211

211. 59th. Setting the Stage (6)

We flew to America, then took a mega-yacht owned by Standard Capital, finally arriving at an island in the Caribbean.

“I didn’t know such an island existed.”

“My father-in-law recently bought it. He said it’s better to meet here because the Morgans are watching.”

We boarded a boat and, escorted by guards—or rather, mercenaries—stepped onto a small pier.

“This way, please. Welcome.”

Surrounded by layers of mercenaries, we walked for about ten minutes until a luxurious mansion came into view. Inside, Henry and Isaac were wearing sunglasses, short-sleeved shirts with palm trees, and shorts, sipping tropical cocktails.

“You guys are too much. We suffered from seasickness.”

“Sorry, Claire. It’s just so hot here, haha.”

Claire made a slightly sulky face, and Henry burst into a hearty laugh, putting down his glass. Isaac also put down his glass, wiped his mouth with a napkin, and gave an awkward smile.

“I’m sorry, Claire. Your uncle and I have been here for days, battling this heat, haha.”

Staying on this remote island for days is quite an ordeal. Claire chuckled at Isaac’s embarrassed smile after his explanation.

“I see. We’ll unpack first. Oh! I need to feed the kids something.”

“Don’t worry, Claire. Michael and I prepared fresh fruit juice for Ryan, haha.”

We smiled back at Isaac, who was chuckling, then went to our room to change and came down to the living room on the first floor with cocktails in hand.

“Those Morgans are furious. Who knew they invested $20 billion in Johnny’s in-laws…”

Henry trailed off, sucking loudly on the straw in his cup, swallowing the cocktail. While Henry frowned for a moment, Isaac took the straw out of his mouth.

“What are you going to do, Johnny? At this rate, your family’s revenge won’t be complete.”

I could sense the apology in Isaac’s eyes. Was he thinking that his revenge was successful, but mine and my family’s revenge had become more difficult?

“I can still get my revenge. If you and Henry lend me a hand.”

“I’m always on your side. What about you, Isaac?”

Isaac nodded at the ball Henry threw without a gap.

“Johnny and I are friends. I should help if there’s anything I can do. More than anything, we got into trouble helping your family’s revenge, so we should help even more, shouldn’t we, Uncle?”

Even if tycoons are ruthless in front of money, I felt reassured by the loyalty I felt from the two men, transcending skin color and age. I gave them a gentle smile.

“Thank you both. That’s why I’m saying this… Isaac, I have a favor to ask of you first.”

I sucked on my cocktail for a moment, swallowed it, and looked at Isaac with a light sigh.

“Chase Manhattan is a major shareholder, holding 20 percent of Shinseong Life’s stock. Right?”

“We’ve been preventing your in-laws from easily using Shinseong Life’s money because we hold the stock, even if it were someone else. We also blocked the merger between Shinseong Life and Shinsegi Financial Group, or rather, Shinseong Life’s backdoor listing through the merger, haha.”

The power of a stock varies depending on who holds it. Even 20 percent of Shinseong Life’s stock, which seems like it can’t turn the tide, can make the in-laws wary because Chase Manhattan, one of the largest investment banks in the United States, holds it.

I told Isaac my business, as if it were nothing new.

“My wife’s aunt’s Shinsegi Group has Shinsegi Securities, Shinsegi Card, and Shinsegi Fire Insurance. In the process of converting to a holding company, those three companies were separated while being tied to Shinsegi Financial Group, and I want Chase Manhattan to propose a merger between Shinsegi Financial Group and Shinseong Life.”

Isaac’s mouth dropped open at my request.

“If we merge, our stake in Shinseong Life will…”

“It will drop below 20 percent. But.”

I paused my calm voice and took out Park Tae-gon’s credit card crisis prediction report from the bag I brought with me, handing it to the two of them. Henry and Isaac looked at the documents with serious expressions, their eyes widening as they turned to me.

“You were… aiming for this?”

“According to what I’ve found out, my in-laws have mortgaged all their group shares and sold super-long-term, low-interest bonds to the Morgans. The core collateral is Shinseong Life stock.”

Everyone nodded, and I revealed the key point.

“As you all know, in Korea, the parent company of a chaebol [large family-owned conglomerate] group must take responsibility for its subsidiaries due to the National Sentiment Law [a cultural expectation and sometimes legal pressure for ethical corporate behavior]. Among them, Shinseong Life holds 70 percent of Shinseong Card’s shares, so if Shinseong Card’s insolvency bursts, they have to inject funds.”

“But to merge Shinsegi Financial Group with Shinseong Life is…”

“It’s to merge Shinsegi Card with Shinseong Life to increase the insolvency. If the equity value drops, your in-laws and the Morgans will all be in trouble, haha.”

I gave a faint smile at Henry and Isaac’s one-two punch following my explanation.

“That’s right. To avoid suspicion, we should say that Shinsegi Securities should merge with Shinseong Securities, and Shinsegi Fire Insurance should merge with Shinseong Fire Insurance to complete the set.”

“But Johnny, you’ve identified the credit card crisis, so there’s no reason why Shinseong wouldn’t have identified it. Are you sure it’s okay?”

Isaac’s smile faded at the problem Henry pointed out, but I didn’t lose my smile.

“You don’t have to worry about that, Henry. The only person in that Shinseong Group who could sense the credit card crisis is the one I brought, and he’s the one who wrote this report.”

Henry burst into a hollow laugh when he heard the story about Park Tae-gon.

“Haha, the person Shinseong sent when turning the tables in Tokyo wrote this report…”

“Johnny, are you touching a crystal ball?”

I chuckled at Isaac’s question with a dumbfounded expression.

“Of course not. If I did, I would have become richer, hehe.”

“Still, we need to find a way to increase the insolvency besides credit cards, just in case.”

“You don’t have to worry about that, Henry. I have several bombs to sell to my in-laws.”

It wasn’t a lie. I looked at Henry and Isaac with a confident expression.

***

After agreeing with Henry and Isaac on some of the plans to attack Shinseong Group and sharing future investment matters in the United States, I moved to New York.

“If we pass the first half of the year, the investment contract for the Pilbara region iron ore mine development with Hancock Prospecting will be canceled. Before that, get a quote in collaboration with Haedong Construction and North Limited and execute the investment.”

While I was sitting at the head of the Standard Capital conference room and ordering investment in the Australian iron ore mine, a question flew from one of the board members.

“I understand, Johnny. But… aren’t you going to invest in mortgage securities?”

“I will not invest a single penny of Standard Capital’s funds. Leave it to Morgan Stanley and BlackRock to do well on their own.”

There is no reason for Standard Capital, which supports Hispania, which Haedong Group and I have around the world, to invest in such foul-smelling garbage.

More than anything.

To end the war with Shinseong Group in the upcoming credit card crisis, it is best to leave the two companies as they are. As I cut off the refusal, another of the board members continued the question.

“Then… where are you going to invest our funds? The funds currently playing in accounts at Chase Manhattan, Citibank, Wells Fargo, Bank of America, etc. alone…”

Understanding the meaning of wanting to invest, I opened my mouth and cut off his words.

“Invest in Lockheed Martin, Boeing, Raytheon, Northrop Grumman, United Technologies, Oshkosh Corporation, and British BAE Systems and EU’s EADS. If possible, it would be good to invest in Chase Manhattan and Triumph Capital, ExxonMobil, Chevron, or existing Microsoft, Oracle, and Cisco.”

The board members tilted their heads at the investment items that came out of my mouth.

“I don’t see any momentum, is it okay?”

“It’s okay. They are undervalued now, but they are stocks that will rise in the long term. As you all said, we can’t just leave money in bank accounts forever, can we? Haha.”

The board members nodded, but the United States will start the war on terror from this fall.

Where is that the only thing? Countless Americans who have been devastated by the collapse of the IT bubble are using Chinese light industrial products, and the Chinese economy is still growing rapidly.

‘At least I put a brake on it by running the Gaeseong Industrial Complex [a joint North and South Korean industrial park]…’

China will definitely become the second-in-command after the United States. If they increase their military power based on that size, the US Pentagon will also be in trouble and accelerate the increase in military power, so now is the right time to invest in Western world military companies. Also….

‘In a few years, Haedong Corporation’s Jeonju Research Institute will mass-produce T1000-class carbon fiber. We need to secure as many airline stocks as possible so that we can negotiate on an equal footing, not as an inferior party.’

I don’t want to abuse my power with stocks either. It was a decision made in the hope that even subcontractors who supply materials would cooperate with aircraft manufacturers on an equal footing as much as possible.

“Oh! Increase the money invested in monthly options trading to $5 billion. Besides that…”

After deciding on other investment policies, I called my grandfather only at night.

“This is Seong-min, Grandpa. I have decided to invest in Australian iron ore development soon.”

[Our Chairman Bae’s mouth will be torn. Your uncle will be speechless, euhehe.]

The iron ore zone development project in the Pilbara area of Australia is an important project for Bae Jae-hoon, who is in charge of resource development, and Lee Myung-jin, who is in charge of the construction business of the Pan-Haedong Group. I smiled at my grandfather’s laughter.

“So I also recommended Chase Manhattan and Triumph to invest in Haedong Construction stock. I also decided to open other investment cases.”

When I told him about the other investment cases, I heard my grandfather’s satisfied voice.

[Well done. Friends are people who maintain their relationship by giving and receiving help from each other from time to time. The more that help grows, the more they will have to work harder to grow for each other.]

As my grandfather said, friendship is maintained and developed only when each other tries to do better for each other. I smiled and answered vigorously.

“Grandpa is right. That’s why I’m always trying.”

[Okay. You can announce the mine development yourself as soon as you get back. You can do it well, right? Hehehe.]

My grandfather, who has stepped down as an advisor, seems to completely trust and entrust us who remain in the group. I can’t disappoint him.

***

After returning to Korea from the United States, I rested at home for about a day before going to the Haedong Group headquarters to meet Bae Jae-hoon and Lee Myung-jin. While telling them about the events in the United States with a hearty laugh, I changed the topic to the iron ore mine development in the Pilbara area of Australia.

“Simultaneous development of 6 mines and a total production of 80 million tons in the first phase of development… BHP Billiton, Rio Tinto, and Brazil’s Vale will be terrified, euahaha.”

“Thanks to your parents’ house, we won’t have to worry about construction work for about 20 years, haha.”

Bae Jae-hoon and Lee Myung-jin were able to laugh heartily.

If the first phase of development of the four iron ore mines wholly owned by Pan-Haedong Group, in addition to Roy Hill and Hope Downs, which are owned by Hancock Prospecting, Haedong Group, and Haedong Heavy Industries Group, is completed, wouldn’t we be shoulder to shoulder with global mining majors? As production increases, we can trade with Daehan Steel and Taehyun Steel in addition to Haedong Steel, so a significant portion of the dollars flowing out due to raw material imports will be recovered.

As the laughter gradually subsided, Bae Jae-hoon asked me.

“By the way, Chairman Lee, didn’t Haedong Electronics, which you directly manage, also announce a new product before the second half of the year?”

“That’s why our Haedong Construction and GK Construction built the GK Display’s new LCD panel factory. What are you trying to make, Chairman Lee?”

Looking at the two people full of curiosity, I smiled.

“The new product is called Aqua Wave. It is a multi-player that allows you to enjoy music, movies, games, and novels.”

“Aqua Wave?”

“Multi-player?”

To Bae Jae-hoon and Lee Myung-jin, who were full of question marks, I revealed that Aqua Wave is not just a machine business, but also combines Haedong Corporation’s Aqua Store to distribute various contents and software such as music, movies, games, comics, and novels.

“Hehe, so Chairman Shin and Chairman Tae met with entertainers, publishers, and game companies at home and abroad.”

“Hyung-soo [term for brother-in-law] was worried that Hojin hyung [term for older brother] was meeting too many celebrities… there was a reason, haha.”

While I was taking care of the North Korea business, Shin Ho-jin and Tae Jae-ho met with people related to domestic and foreign songs, movies, publishing, comics, and games to acquire electronic distribution rights through the Aqua Store. Looking at the two people laughing, I continued the explanation.

“Soon, prior to the release of Aqua Wave, Haedong Corporation’s computer service-e-commerce division will be separated into a subsidiary and renamed Aqua Soft. Haedong Electronics will acquire 50 percent of the shares through a capital increase.”

Haedong Electronics is a company in which Standard Capital, I, and Standard Capital, which I hold, are joint major shareholders. Since my in-laws and the Morgans do not know that I am the owner of Standard, it was a perfect smoke screen to enter the next stage.

Bae Jae-hoon’s mouth went up when he heard my explanation.

“Then Chairman Go can bake Lee Soo-han, hehe [slang for outmaneuvering or defeating someone].”

“Before that, Chairman Lee has to move his brother-in-law. Isn’t that right? Haha.”

Lee Myung-jin is right. Go Seung-ju meeting Lee Soo-han to set a new plate is after I meet my brother-in-law.