Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 220

220. 62nd. Explosive Marketing (2)

Some time later.

Myung Seon-gu and I finished our round of golf at the Korea Hotel golf course in Yongin and were drinking Concord wine-based sangria at the clubhouse cafe.

“Kheu-! Sweet and sour, just killing it, haha!”

Myung Seon-gu, who had been gulping down the sangria in a 500cc glass, put down his glass and laughed heartily.

‘Heumi…’

As the owner of a bear-like physique honed by rugby and judo, Myung Seon-gu got rid of half of that sangria in one shot. Our sangria cups were filled with ice, so just looking at it made my head spin.

Myung Seon-gu chuckled at me, who couldn’t hide my surprise.

“What are you so surprised about, nephew? When I was your age, I could finish a bowl of *makgeolli* [Korean rice wine] filled to the brim in one shot, hehe.”

In my past life’s memories, Myung Seon-gu was rumored to be a heavy drinker in his younger days. To see him like this in person…

“It seems like you’ll live to be 100 years old, haha.”

“Hey, you! Wishing someone a long life is an insult, an insult. We all go when it’s our time, hehe.”

That man was still alive until I died, nearing eighty, and after handing over the chairman’s seat to Myung Eui-jin, he stepped down as honorary chairman. I gave a sheepish smile and sipped my sangria.

We were drinking alcohol from broad daylight to quench our thirst, and we got down to business when we set up our second sangria.

“I asked my brother as you requested.”

“Didn’t Assemblyman Myung say anything?”

At my cautious question, Myung Seon-gu waved his hand.

“Don’t worry, nephew. I dug it out while talking like water flowing, so there’s no room for suspicion, hehe.”

Listening to Myung Seon-gu’s story of extracting information from Myung Seon-jun, goosebumps spread all over my body.

‘This man is really a snake?’

Listening to the story of how he extracted the necessary information without giving the other person a chance to suspect in a comfortable conversation, Myung Seon-gu looked new to me. Myung Seon-gu smiled contentedly at my gaze.

“I did all this hard work for our nephew. If you and I get along, wouldn’t our Eui-jin be strong too?”

“Come to think of it, you joined as the head of the parts purchasing department recently, right?”

Myung Seon-gu nodded, gulped down the sangria he hadn’t even touched yet, cutting it in half, and then let out a light breath.

“Hoo, that’s the position I had when I first joined the company. It’s the perfect place to study the automobile business by rolling around in that position, isn’t it?”

The head of the parts purchasing department at Taehyun Motors is all about squeezing prices for ordinary employees, but for Myung Eui-jin, it is the most optimized position for management training at Taehyun Motors Group. Isn’t it a place where you can check tens of thousands of parts and study prices and performance?

Myung Seon-gu adjusted his expression as he looked at me nodding.

“I don’t know when I’ll step down, but please help our Eui-jin well. I have nothing to ask for if you just remain as a friendly shareholder.”

“I understand, Uncle.”

This family also created several shell companies because of the group succession and made Myung Eui-jin the largest shareholder, but Myung Eui-jin dilutes the blemish by showing a fairly good manager’s appearance.

‘The more friends, the better.’

If you have more friends, there will be a problem of coordinating the relationship between my friends, but there is nothing to worry about. I will coordinate them not as their peer, but from the apex.

After that, I spent time with Myung Seon-gu talking about business and family stories.

“Thanks to you, I had a good sweat and enjoyed good alcohol for the first time in a while.”

“Take care, Uncle.”

I sent off Myung Seon-gu, who got into the car, and as soon as his car left, I smiled and took out my cell phone.

“It’s me, Head of Headquarters Woo.”

###

Immediately after getting in the car, I went from the Yongin golf course to the Haedong Motors headquarters and apologized to Woo Young-joo, whom I met.

“I drank some alcohol while entertaining Chairman Myung. I’m sorry, Head of Headquarters Woo, during working hours.”

“No, Chairman. Isn’t entertainment inevitable because it’s an important matter?”

Nodding, I took out a neatly folded memo from my arms and handed it to Woo Young-joo.

“Is this the information?”

“That’s right. It’s high-quality information that Chairman Myung extracted without even Assemblyman Myung noticing.”

You might say that preparing for a national soccer team game is high-quality information, but at the time, the Korean soccer team’s game preparation was almost equivalent to a national secret.

‘Haedong Motors also absorbed the Busan Haedong Royals front when they ate Daeju Motors, so it’s all said and done.’

Even the clubs that dispatched the players could not know the game preparation, even though I, a returnee, knew. Furthermore, we will use this information for marketing, so the information Myung Seon-gu gave us was priceless.

Woo Young-joo unfolded the paper and exclaimed as he looked at the contents written inside.

“I didn’t know they would prepare so thoroughly.”

“So it’s called FC Korea, hehe.”

I smiled and adjusted my expression and said to Woo Young-joo.

“As you can see, we have delegated all coaching staff appointments to coach Hiddink, and we have accepted all orders to cut the lawn short and sprinkle sprinklers before the game because of ball control.”

As such, the Korea Football Association, or rather, the Korean football world, concentrated almost all resources on the national soccer team under coach Hiddink to get the national soccer team to the finals somehow and made the most of the home-ground advantage. So, South Korea’s semi-final myth was by no means luck.

Woo Young-joo also nodded at me.

“At this rate, we should be able to advance to the finals at least. Even if we only advance to the finals, there will be results, so I think it’s worth trying, Chairman.”

“Good. I asked Standard Capital to calculate the marketing insurance premium, so let’s make a marketing plan.”

Woo Young-joo and I smiled and shook hands.

***

Some time later.

After making a marketing plan with Woo Young-joo, I received a fax from Standard Capital’s US headquarters.

‘As I expected.’

The probability of Korea advancing to the round of 16, predicted by the global insurance industry, is 45 percent. In addition, reaching the quarterfinals is 17.5 percent, reaching the semi-finals is a single digit, and reaching the finals and winning the championship are only 0.1 percent in form.

Smiling, I quickly entered the numbers written on the fax according to the Excel I made, and then pressed the Enter button.

“Hehehe…”

I calculated the insurance premium based on the consumer sales price, and I smiled as I recalled the number of vehicles we had to spread and the amount of sales that were not written in Excel.

“What are you smiling about? Did the wind get into your lungs?”

I came to my senses at Seon Hae-cheol’s question mixed with nagging.

“Yes? …Wait a minute.”

I printed the Excel results and showed the paper to Seon Hae-cheol.

“200 billion won [approximately $150 million USD] including commission based on consumer sales price…”

Seon Hae-cheol chuckled as he checked the insurance premium that I had to pay for Haedong Motors’ marketing that I was promoting this time.

“It’ll be cheap compared to the bitter taste of failure you’ll see with this betting, plus the disgrace the Haedong Group will suffer.”

For the first time since the Pixar investment, a stinging voice towards me came out of Seon Hae-cheol’s mouth. I said to Seon Hae-cheol with a calm expression.

“Even just reaching the main round is worth it, Uncle. Chairman Myung gave us information, so it’s worth betting on.”

“I know, you rascal. But you’re the third-generation owner of Haedong Group. You hold over 70 percent of Haedong Corporation’s shares, and you’ve never failed in any bet. Why would someone like you bet on a losing gamble?”

“We’ve always gambled and succeeded, Uncle. This is the same gamble.”

Seon Hae-cheol raised his voice, so I raised mine, and then Seon Hae-cheol’s voice rose again.

“This bet is different from the others. It’s a completely blind gamble! It would be better to count cards at a blackjack table with MIT geniuses. Sigh…”

While Seon Hae-cheol sighed deeply, as if the ground was sinking beneath him, Park Tae-jin cautiously watched and opened his mouth.

“What you’re saying is right, Chairman. Sports betting is a gamble with too many variables. It’s not a lot of money compared to your wealth, but I’m worried about the damage it could do to your reputation and the Haedong Group’s prestige.”

Both of them are right.

Even though we separated the affiliates, the pan-Haedong Group, including Haedong Group and Haedong Heavy Industries Group, is the largest conglomerate in this country. If I, the eldest grandson of this family, suffer a public disgrace, how will the political and business circles and the public view me, my family, and our group? But…

“Automobiles are just a part of it.”

“What?”

“Haedong Electronics will promote the Aqua Wave Smart, which will be released in June, in the same way as Haedong Motors.”

“Hey!”

Seon Hae-cheol shouted, but my marketing plan still had more to come.

“In addition, Haedong Department Store and Hi-Mart will have a half-price promotion on groceries and summer luxury goods for the number of weeks equal to our team’s wins, starting right after the World Cup ends. If that happens…”

I don’t know how long it’s been since I’ve seen Park Tae-jin and Seon Hae-cheol with their mouths wide open. I smiled and opened my mouth.

“Haedong Electronics will have to spend 400 billion won [approximately $300 million USD], and Haedong Corporation’s logistics and distribution division will also have to spend 400 billion won, hehe.”

So, the money I’m going to throw as marketing insurance this time is 1 trillion won [approximately $750 million USD], including commissions. Seon Hae-cheol, who had been staring at me, speechless, shook his head and asked.

“Are you really confident?”

It seems he realized that the atmosphere was unusual as the stakes I was betting on grew to trillions of won. Watching Seon Hae-cheol swallow hard, I smiled.

“Yes, Uncle. Have I ever failed in a gamble?”

Seon Hae-cheol exclaimed as he looked at me, who was brazenly asking back.

“Haa, I’m going crazy. Seeing you bet like this is a sign that there’s definitely a chance of winning… Tae-jin, what do you think?”

“We’ve always been very successful whenever the Chairman has taken an aggressive approach. Unlike previous cases, this one feels rushed, but I think it’s worth betting on.”

As Park Tae-jin said, I have always created the board and driven in the wedge at least two or three steps ahead.

This time, I’ve been planning this since I created the Soul, and I’m just proceeding because the time has come. This design may seem like a coincidence to them.

***

Seon Hae-cheol, who had been narrowing his brow and twisting his lips, composed himself.

“Call! But… where are you going to get marketing insurance? Marketing insurance is just property insurance, so…”

“I’m going to sign up with Shinseong Fire & Marine Insurance.”

“Shinseong Fire & Marine Insurance?”

“Shinseong Fire & Marine Insurance?”

Not only Seon Hae-cheol but also Park Tae-jin, who shouted after him, had wide eyes and loud voices.

“You don’t mean…?”

“I don’t think our soccer team will only make it to the round of 16. The Korean soccer community is united and pushing them, so why would they stop at the round of 16?”

“So… you’re saying the quarterfinals are possible?”

“I think it’s possible.”

Seon Hae-cheol’s eyes sharpened at my confident answer.

“If we only reach the main round, we’ll break even, but if we reach the quarterfinals, the insurance premium you’re going to throw will return at least twice as much. If your in-laws accept that insurance, they’ll be in deep trouble.”

‘Will they only be in deep trouble? They’ll be facing a royal flush, a shutout, a bomb, and a shake [idioms referring to devastating losses].’

The costs we spend on marketing can be paid with the insurance money we receive from Shinseong Fire & Marine Insurance. The larger the amount, the more Shinseong Fire & Marine Insurance will go crazy and jump up and down.

Park Tae-jin, who had been silently laughing, asked me.

“Chairman, even if Shinseong Fire & Marine Insurance subscribes to reinsurance, this plan will only be half successful.”

“What do you mean?”

“If things go according to your plan, Shinseong Fire & Marine Insurance will have to pay at least twice the insurance premium we pay, even if our team only makes it to the round of 16, as you said. The higher we go in the tournament, the more the insurance payout will increase.”

“I guess so?”

“But if they subscribe to reinsurance for the insurance they acquired from us, all that will happen is that the insurance premium for the insurance subscribed to by the Shinseong Group will increase, or the Shinseong Group’s credit rating will be downgraded.”

Park Tae-jin’s explanation was quite interesting. What is Park Tae-jin thinking?

“What do you think, Hyung [older brother or respected male figure]?”

“If possible, we should also prevent Shinseong Fire & Marine Insurance from subscribing to reinsurance to prepare for the marketing insurance we will subscribe to.”

‘I was thinking the same thing…’

As Park Tae-jin said, if we prevent Shinseong Fire & Marine Insurance from subscribing to reinsurance, Shinseong Fire & Marine Insurance will have to pay all the insurance money from the marketing insurance acquired from us with funds from the Shinseong Financial Group.

Of course.

The insurance money paid to us will be a direct loss to the Shinseong Financial Group. I was also aiming for that point when I created this plan.

“I think so too. The best way is not to give them time to subscribe to reinsurance, hehe.”

The insurance industry is a multi-level marketing scheme with a long history, a vast scale, and legality, and reinsurance, the king of that multi-level marketing scheme, is the playground of reinsurance companies like Berkshire Hathaway and syndicates, groups of payment guarantors registered with Lloyd’s of London.

It is impossible for us to stop all of them. How can we stop them from buying reinsurance with their own money?

“I agree, Chairman. So, the best thing to do is not to give the Shinseong Group time to subscribe to reinsurance.”

“No, I don’t think so.”

Unlike Park Tae-jin, who agreed with my opinion, Seon Hae-cheol vetoed it. Why?

“What do you think, Uncle?”

“The best thing is to move Chase Manhattan.”

“Chase Manhattan?”

“If Chase Manhattan steps in to reinsure the marketing insurance that Shinseong Fire & Marine Insurance will take on from you, who will move?”

There is only one answer.

“Morgan!”

“That’s right. Your bet will look like an opportunity for others to get free money. Because they will see that the probability of Korea advancing to the quarterfinals or higher is extremely low.”

“That’s right.”

“But if Chase Manhattan, or rather the Rockefeller family, rushes in to take that marketing insurance, will the Morgan guys stand still?”

They will never stand idly by. Even if Chase Manhattan helped launch Shinseong Financial Group, the Morgan family would try to snatch the reinsurance contract by asserting its position as the largest creditor to my in-laws.

Both were plans I had assumed, but I had to keep the spirits of the two men alive so that we could maintain our partnership and work together for a long time. After pondering for a moment, I snapped my fingers.

“It would be good to mix the ideas that Hyung and Uncle came up with. We should also give them a tight deadline and bring in Isaac. Ah! We need to take a few more measures.”

A wicked smile spread across the faces of Seon Hae-cheol and Park Tae-jin as I told them about the ‘few more measures’ I had come up with.