Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 216

216. 61st. Huge Impact (2)

I entered Henry’s presidential suite and sat down at the table with Isaac, Park Tae-jin, Seon Hae-cheol, Claire, and Go Seung-ju.

As I sat down, Henry sighed in relief and said,

“God’s grace must be following Johnny. If it weren’t for last night’s launch show, many would have been hurt.”

Not only Oh Hyun-seok but also Henry’s backers ostensibly had offices in the World Trade Center as representatives of various investment firms. They all came to Las Vegas for yesterday’s launch show, which saved their lives.

“I think you’re right, Uncle. But who would have thought America would be attacked…”

Everyone, including Isaac, looked bewildered, but I spoke calmly.

“It’s unfortunate that people were hurt and killed. But if we panic and make hasty decisions, more people will suffer.”

The people gathered here can all create a significant impact on the global economy. Seon Hae-cheol nodded, understanding what I meant, and said,

“Johnny is right. It must be the work of terrorists, so there’s no need to overreact, right?”

“Yes, Uncle. It’s been ten years since the Soviet Union collapsed. What country would be crazy enough to attack America?”

Since the end of the Cold War, there is no country that can stand up to the United States. Everyone nodded in agreement, and I continued.

“It must have been detonated by radical groups with no real power. Once the temporary unrest subsides, public sentiment and the stock market will return to normal. So…”

‘To think I have to do this even in this situation…’ I thought to myself.

I couldn’t continue speaking due to a momentary surge of ridiculous conscience. I finally opened my mouth after letting out a heavy sigh.

“We must never sell the stocks we hold. Selling stocks rashly in a panic will only result in losses.”

If the three companies at the heart of Wall Street dump their stocks, the U.S. stock market, and consequently the global stock market, will fall into even greater panic. Henry nodded at my cautious approach.

“Johnny, you’re right. We must hold onto our stocks no matter what. Isn’t that right, Mr. Go?”

“Chairman Lee is right, Lord Royce. The factories must continue to operate as well.”

I nodded at Go Seung-ju’s calm response.

“However, maintaining the status quo is the minimum defense. When the crash begins, we must buy up stocks and commodities that are falling in value on a large scale.”

In a few months, the stock prices will recover. Knowing that those few months, and being able to endure it, everyone nodded at my suggestion.

“It may be a misfortune, but fortunately, Standard, Triumph, Chase Manhattan, and the Haedong Group have been continuously trading options since the IT bubble burst, so we have made enough profit to offset the temporary stock losses. We can reinvest some of that money.”

As the stock market crashed due to the 9/11 terrorist attacks, Triumph, Chase Manhattan, Standard Capital, and Haedong Group each made tens of billions of dollars in cash from put option jackpots. Henry nodded at Seon Hae-cheol’s briefing on my behalf and said,

“We’ve been betting on the decline due to the IT bubble burst, but I didn’t expect it to explode like this. But…”

Henry hesitated for a moment before speaking with a stern expression.

“Everyone here has made a lot of money in America, but some were hurt, and some died. We should do something for them.”

Isaac joined in on Henry’s suggestion, who had a warm heart for someone at the pinnacle of Wall Street.

“I agree. If we, who have made the highest profits in the U.S. stock market, are only focused on making money this time, seeds of hatred towards us will grow without us knowing.”

I also nodded at Isaac’s statement, befitting the head of the Rockefeller family, who is cautious of public attention.

“I agree with both of you. First, let’s support the materials needed for the accident recovery, treatment costs for the victims, hospital bills, and investigation costs. Triumph, Chase Manhattan, Standard Capital, and the Haedong Group, including my family, should each donate $100 million.”

“In America, donations are a basic requirement for the wealthy, Chairman Lee. Is there anything else?”

Henry seemed to want me to play a bigger role as someone who had accumulated immense wealth in America. Isaac also nodded, and I replied with a calm expression.

“There is more. Once the accident recovery is complete, it would be good to build a memorial park on the site of the World Trade Center.”

“Memorial Park?”

Henry and Isaac were delighted. I looked at them and began to explain.

“The site of the now-collapsed World Trade Center is no longer valuable as a building site. Who would want to work in a place where people died and were injured?”

“That’s right. Whether it’s in the East or the West, people want to avoid places where unfortunate events have occurred.”

“That’s also true, but this tragedy is an unprecedented large-scale disaster in American history. We must console the innocent victims and convey to future generations that such a thing should never happen again.”

Originally, it was a project that the Manhattan Development Corporation would promote in 2003, but I wanted to build the memorial park as soon as possible, so I also revealed the specific plans at the current level.

“The construction cost will be covered by my funds managed by Standard Capital and the Haedong Group owner family’s private funds, but it will be in the name of Standard Capital. The construction will be entrusted [맡길 거고요] to a suitable firm.”

Memorial Park is the most solemn building.

Haedong Construction alone lacked the experience to construct such a dignified building, so I was thinking of joining hands with Miryong Construction. If the two companies build the memorial park, it would help the diplomatic relations between Korea and the United States, and it would be an opportunity to prove the construction capabilities of both companies, wouldn’t it?

‘It’s unsettling to do business using the dead, but what can I do? The survivors have to live on.’

Henry nodded at my proposal, which I made with apologies to the deceased.

“That’s not bad. It’s common in America to have your own company do the construction when building and donating a building. It will be something that can benefit both reputation and profit [명분도, 실리도].”

“That should be enough of a return for the wealth Johnny has gained in America, Uncle. We should also share the memorial park construction.”

Henry and Isaac both showed satisfactory reactions, but I had no intention of stopping here.

“There’s one more thing besides the memorial park.”

“What is it?”

“I’m thinking of volunteering myself.”

At that moment, everyone, including Henry and Isaac, looked at me with disbelief, but the best way to help is to show it with your body. So, I will sweat myself.

***

After finishing the countermeasures meeting, I returned to my room and immediately called my grandfather to inform him of the local news.

[Huh, America being swayed by a terrorist group…]

“But the Haedong Group must never waver, Grandpa. It will only be a temporary panic.”

[I suppose so. It’s not like Russia shot a nuclear missile at America, is it? This grandpa will take good care of the group, so you go to New York as you said.]

“Is it really okay for me to go?”

[If you can use your body to promote Haedong’s name to the world, wouldn’t that be a bigger advertising effect? Go ahead, hehe.]

My grandfather, even though he has stepped down to the second line, his sense is still amazing. I was going to ask Henry and Isaac to mobilize the media…

“Thank you, Grandpa.”

###

Lee Dae-soo, who hung up the phone, immediately called the three remaining elder chairmen and Lee Myung-jin to Samcheong-dong. Lee Dae-soo opened his mouth, looking at the four men sitting at the desk in the study even though it was a dark night.

“Sung-min called and said that the World Trade Center collapsed due to a plane accident. Myung-jin.”

“Yes, Father.”

“You should immediately meet Chairman Seo of Miryong Group and prepare to build a memorial park at the accident site.”

“A memorial park?”

“Yes. Sung-min said that when the accident site is cleared, we should build a memorial park with our money and promote the names of Haedong Construction and Miryong Construction.”

A memorial park is a solemn structure that must be built with the utmost care to match its purpose. It was a good project to promote the company’s name, but Lee Myung-jin cautiously asked.

“Is it… because of the in-laws’ family?”

Lee Dae-soo shook his head with a relaxed expression.

“The in-laws are safe. Sung-min said he drank all night, talking about family matters, and just woke up a little while ago, hehe.”

Only after Lee Dae-soo’s hearty laughter did the tension on the faces of Lee Myung-jin and the three chairmen ease. Wasn’t Lee Sung-min someone who cherishes his mother’s side of the family as much as his father’s?

“That’s a relief. I’ll talk to Hyung-nim [older brother/respected elder] Jun-seok appropriately, Father.”

“Okay. And Chairman Cho, have you prepared measures for the stock market tomorrow?”

“That’s why I’ve been gathering the securities and asset management people to hold a countermeasures meeting, haha.”

Lee Dae-soo nodded with a satisfied expression at Cho Young-chan’s hearty laughter.

“Sung-min told me to tell you. Don’t throw away the stocks held by securities and asset management, but rather buy more.”

“That’s just like Sung-min. We also thought it was a temporary panic because of the accident caused by the terrorist group…”

Lee Dae-soo’s lips curled up at Cho Young-chan’s report that he was discussing additional purchases in the stock market tomorrow with executives from Haedong Securities and Haedong Asset Management, including Min Joo-hyung and Joo Seung-bin.

“I don’t know who raised them, but those friends are doing their job well, euhehe.”

Lee Dae-soo, who was laughing heartily, composed himself and said to Cho Young-chan.

“One more thing. Sung-min told me to call the reporters under your name and have them write articles.”

“Articles, you mean…?”

“Saying, ‘America will never collapse. Rather, we should buy the stocks that foreigners are selling in Korea.’ And…”

Lee Dae-soo, who had conveyed his eldest grandson’s request, gave Cho Young-chan even the order he had improvised.

“That’s a decision Sung-min would make.”

“Our eldest grandson is doing something worthy of the money he’s earned in America. Tell everyone not to be swayed and to do as usual.”

Although he didn’t show it, Lee Dae-soo couldn’t help but wonder if heaven’s blessing was following his eldest grandson.

***

The next day, afternoon.

Cho Young-chan summoned reporters from all media companies except Joonguk Ilbo to his office in the Haedong Investment & Securities headquarters for an interview.

“So… you’re saying that the current market situation is just a sell-off caused by temporary panic, Mr. Chairman?”

“That’s right. Since the end of the Cold War, there hasn’t been a single country that can beat America. Even if a terrorist group attacked America, do you think America is such a 허술한 [shabby/vulnerable] country that terrorism will break out all over the country?”

At Cho Young-chan’s question, reporters, regardless of whether they were progressive or conservative, could not easily answer. If they misspoke about this terrorism that left an indelible scar on America’s prestige, wouldn’t they not even be able to dream of becoming a U.S. correspondent in the worst case scenario?

“…That’s right.”

“Also, the stock market is influenced by illogical factors such as psychology in addition to objective data. Chairman Lee Sung-min, who is currently on a business trip to the United States, also advised me that America will never collapse, so we should buy the stocks that foreigners are putting out on the domestic stock market.”

“Even Chairman Lee Sung-min?”

The reporters’ eyes widened. Lee Sung-min, who is known as the best and brightest in the Korean business world, and is also known as the best investor in Korea, has ordered additional purchases?

“So, Haedong Securities and Haedong Asset Management have invested 1 trillion won [approximately $850 million USD] in the market today alone. We plan to invest more in the future.”

To invest more than 10 percent of the market capitalization of Daehan Steel, Korea’s largest steel company, in a single day… The reporters’ mouths dropped open, but Cho Young-chan had not yet taken out the final wedge.

“One more thing. Our Chairman Lee Sung-min plans to volunteer at the accident site in New York for the time being.”

Unlike Cho Young-chan, who felt relieved after driving in the last wedge, the reporters could only blink their eyes. A chaebol [conglomerate] chairman is going to use his body directly?

###

A few hours later.

Lee Dae-soo received a call from Oh Ja-hyun.

[Thank you, In-law [term of endearment for a relative by marriage]. If it wasn’t for Sung-min, I wouldn’t have seen Hyun-seok’s face. My cousin told me to be sure to tell you, hehe.]

Lee Dae-soo said calmly at Oh Ja-hyun’s relieved voice.

“Is there anything to be thankful for, In-law? It’s thanks to God’s care. I would appreciate it if you could convey my condolences to your surprised cousin, hehe.”

[It’s not condolences, it’s a party, hehe.]

Lee Dae-soo, who was smiling at Oh Ja-hyun’s laughter, exclaimed.

“Ah! Did you see our Chairman Cho’s interview article, In-law?”

[I saw it. Sung-min told Chairman Cho to say that?]

“Yes. Other guys are pointing fingers at us, saying we’re crazy, but Sung-min said it…”

Before Lee Dae-soo could finish his sentence, Oh Ja-hyun’s voice was heard.

[I just received a call from our eldest son. GK Securities and GK Asset Management also want to keep pace with Chairman Cho. I also recognize Sung-min’s skills, so I told them to do so, hehe.]

“I understand, In-law. Have a pleasant day, hehe.”

Oh Ja-hyun’s exclamation was heard to Lee Dae-soo, who was about to take the receiver away from his ear.

[Ah! It was decided after receiving a call from Hyun-seok, but we also decided to donate to the victims of the accident and have employees of the U.S. branch participate in volunteer work at the rescue site. We need to give Sung-min some strength, euhaha.]

“Thank you, In-law. Let’s make our two families’ names known in America this time, euhaha.”

It’s a funeral home for others, but the living must live. Oh Ja-hyun and Lee Dae-soo laughed heartily over the phone.

***

When the allies centered on Lee Sung-min had completed all preparations, the Shinseong Group’s Jang family was in the middle of a heated debate.

“Are you crazy! America has been attacked, and you’re putting money into the stock market! Are you out of your mind!”

“Think about it logically, Hyung-nims [older brothers]! What kind of country is America! Isn’t it the country that defeated the Soviet Union during the Cold War!”

“That’s right! Why was the country that defeated the Soviet Union attacked!”

Jang Ho-geon, Jang Ho-kyung, and Jang Ho-min exchanged glances at the cousins’ squirrel wheel-like argument. Jang Ho-geon, who exchanged opinions with his sister and younger brother while shaking his head, slammed the desk.

“Stop it!”

At Jang Ho-geon’s scolding, more than a dozen third-generation Shinseong Group members, from Jang Yong-jae to Jang Min-jae, shut their mouths.

“We can’t take risks and gamble. Our Shinseong will stop with the holding.”

Although they ended the meeting by offering a compromise that neither bought nor sold stocks, Jang Ho-geon’s mind was only curious about what results his son-in-law in New York would bring with his volunteer work.