Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 26

26. 8th. Give and Take Race (Raise) (2)

Arriving in Samcheong-dong, I immediately entered the restaurant.

“I’m sorry I’m late, Grandpa.”

“We were all waiting for you so eagerly, I thought our necks would break, you rascal! Sit down quickly, euhehe.”

I gave my grandfather a sheepish smile and quickly took a seat at the end of the table.

“Today, let’s have this instead of *takju* [Korean rice wine].”

Grandfather got up from his seat, uncorked the Château Lafite on the table, and went around, pouring wine for everyone.

With skill no less than that of a seasoned sommelier, Grandfather elegantly filled the glasses with wine, then returned to his seat and poured himself a glass.

“To the Haedong Group!”

“Cheers!”

In response to Grandfather’s booming toast, we all emptied our glasses in one gulp.

“Keuh- good! I heard from your uncle. You met someone?”

“Yes, Grandpa. I met with Senior Ha-yeon.”

As if he had never smiled, Grandfather’s expression turned stern as he stared at me intently.

“Hogeon’s eldest daughter? The child he brought in from outside?”

“How did you know that…?”

I was so surprised that I couldn’t continue speaking. No one except that family knew that Jang Ha-yeon was Jang Ho-geon’s illegitimate child.

Even as I stared blankly with wide eyes, Grandfather looked at me with narrowed eyes and said,

“You rascal. What do you think this old man’s antenna is? I even have a satellite floating above your head, hehe.”

“Ah… yes.”

It was entirely possible. With the Haedong Group’s secretariat, the 40-year history of the Haedong Scholarship Foundation, and the information network through Myeong-dong’s money lenders, they could sift through all sorts of rumors and information.

“What did that child say?”

“She asked me to help her re-enter the Korea Hotel.”

When I answered Grandfather’s question, everyone looked like they wanted to say something, but no one opened their mouths. Everyone was just watching Grandfather.

“She wouldn’t have asked for help for nothing, would she?”

“No. She said she would put financial pressure on the Shinsegae Group to break the department store entry contract and exclude the duty-free shop and arcade when entering the Korea Hotel. She also said she would take care of the licensing issues.”

When I told the truth, Grandfather shook his head.

“The scales don’t match. Getting rid of that Jang Ho-gyeong woman is something our family can do more than a hundred times over. What do you all think?”

Go Seung-ju opened his mouth at Grandfather’s question.

“Pressuring the Shinsegae Group is something the Myeong-dong money lenders under the Chairman can easily do. It might have been different during the Shinseong Group days, but now that they’ve separated, we can handle them even more easily, hehe.”

“If we refuse, Shinseong will block the permits, but let them try to block us. We have plenty of money recovered from the land clearing, so don’t worry, Father.”

When Lee Myeong-jin also opposed the deal with the Shinseong Group, Grandfather looked at me and asked.

“I’m curious to know what our eldest grandson thinks.”

“I also think so. So…”

Since I saw expectation flash in Grandfather’s eyes, I couldn’t disappoint him, so I paused for a moment, took a breath, and said.

“I want to acquire the entrusted management rights of Shinseong Group’s Kazakhstan copper mine.”

Grandfather let out a soft exclamation. The others also stared at me with wide eyes.

“Heo… you’re saying we should race those guys’ betting? [Compete with their investment]?”

“Copper is a strategic resource that will become more valuable along with the growing electrical and electronics industry. I can’t guarantee whether we’ll stop at entrusted management or expand to acquiring shares, but the know-how we gain from managing the mine alone will be the foundation for resource independence, Grandpa.”

Resource independence (*資源報國* [Jiwon Boguk – Serving the nation through resources]).

Everyone fell into contemplation at those four letters.

Haedong Corporation, the parent company and largest affiliate of the Haedong Group.

The reason why that company has not been listed on the stock market and remains a de facto family company is to develop resources—whether it be people, technology, or natural resources—that will benefit the country without being swayed by external forces.

If Grandfather and Go Seung-ju carefully reviewed my report from the beginning of the year, they would have checked the market outlook for each mineral in the report. They will know that the Kazakhstan project is the starting signal for resource independence.

“If we make the Shinseong guys put the Kazakhstan project on the scales, we’ll have to match the scales. What weight would you put on it?”

It seemed like he was interested in the question Grandfather asked. Shall we start?

“Haedong Corporation should pay the lease deposit for the Gangnam Terminal Hotel, and the management should be permanently entrusted to the Korea Hotel. We should also give the Korea Hotel more than 70% of the net profit. It can’t be done officially, so we’ll have to trade by passing on work [subcontracting].”

“You don’t think that will be enough, do you?”

Of course not. The Shinseong guys also know how much the Kazakhstan copper mine is worth.

After a moment of contemplation, I thought of an item that Shinseong Group would covet. That’s what it was!

“I think it would be good to propose a joint development of the Yeongdeungpo Textile Factory site.”

Grandfather immediately looked at me with a displeased expression.

“That land is like the root of our Haedong. How can you suggest handing that land over to the Jang bastards?”

There may not be anyone in Korea who is as greedy for land as Grandfather, but the Yeongdeungpo Textile Factory site had a special meaning. The Yeongdeungpo Textile Factory was the first business that Grandfather started in manufacturing after establishing Haedong Corporation.

It’s not profitable now, so all the work and manpower have been sent to the local factory, just like the Mullae-dong clothing factory, but my proposal was something Grandfather would oppose.

“That’s not it, Seong-min. That land is also cherished by CEO Bae Jae-hoon of the trading division.”

“Hyung-nim [older brother/respected colleague] is right. CEO Bae sold half of the fabric from the Yeongdeungpo factory, just like the Mullae-dong clothing factory. Our department store’s main branch is also on that factory land, isn’t it? Besides, we’re opening the new building in the fall.”

Go Seung-ju and Lee Myeong-jin even mentioned Bae Jae-hoon, the head of the trading division of Haedong Corporation, to dissuade me, but I had more to say.

“I’m not saying we should hand it over right away. When we build the shopping mall, we should divide the shares and give them the right to take on the construction work as much as their shares. Like an option.”

“Option?”

“Yes. If we let them exercise the option when we start the project in three years, excluding this year, it will work.”

An option is a product that trades the right to exercise a specific right.

If we propose a deal according to my opinion, Jang Ho-geon will worry about the risks of overseas resource development. If my proposal works for Jang Ho-geon, we will get close profits, and Jang Ho-geon will get distant profits.

Everyone nodded at my suggestion. They seemed to know that developing the Yeongdeungpo Textile Factory site was a deal like Bongyi Kim Seon-dal selling the Daedong River [a legendary con man selling a public river], but one more condition had to be added.

“It would be good if future share sales were made in dollars. We need even more dollars to start overseas projects in the future. Please, Grandpa.”

I looked at Grandfather with pleading eyes, having driven in the last wedge.

“You’re disgusting, you rascal. What is a grown man doing?”

“It’s because I want the Kazakhstan project. We can do the Australian project if we succeed in this, right?”

At that moment, Grandfather and Go Seung-ju flinched. I thought that if it was the two of them, they would have recognized the value of the Australian project, so I poked at them, and it was true.

“Australian project, Father? What are you talking about?”

Lee Myeong-jin couldn’t resist his curiosity and asked, and Grandfather said.

“You know that this guy did an internship in the US last winter, right?”

“Yes… He said he went to study investment, right?”

“When he was there, I gave him homework. If you look at it…”

Lee Myeong-jin couldn’t close his mouth after hearing Grandfather’s story.

“Ah, Father?”

“This old man wants to burn again, even in his old age. You’ll have to do everything from A to Z for the construction of the iron ore infrastructure in Australia.”

Lee Myeong-jin was looking at Grandfather with a very excited face, and his fingertips were trembling. Grandfather smiled at him, who was very excited, and asked Go Seung-ju.

“What do you think?”

“If we think about the Australian project, the Kazakhstan project will be a bridgehead. It will be helpful in terms of experience, know-how, and justification.”

“Okay. When you come to work tomorrow, tell Lee Soo-han to meet me. If you make a proposal and show it to me with my seal, he won’t be able to pass it off carelessly. Let’s readjust the scales if they don’t match.”

Perhaps because he was sitting at a gambling table for the first time in a long time, Grandfather was clenching his fist tightly.

***

The next day, lunch.

“It’s been a while, Soo-han.”

“It’s the first time I’ve seen you since the last year-end party, haha.”

Go Seung-ju and Lee Soo-han were at a high-end Japanese restaurant in Seoul, with a table full of Korean dishes and the sound of the *gayageum* [Korean zither] between them.

“I heard from Seong-min. You want me to help you re-enter the Korea Hotel?”

“Yes. It’s our fault, but isn’t it a place that’s too good to give up?”

Go Seung-ju stared at Lee Soo-han, who was shamelessly asking, and emptied the *Igangju* [Korean traditional liquor] filled in the porcelain cup in one gulp.

“I’ll make you another offer.”

“What offer is it, Hyung-nim?”

While Lee Soo-han was blinking, Go Seung-ju took out his cell phone.

“Bring it.”

Go Seung-ju, who hung up after saying just one word, smiled at Lee Soo-han.

“You should empty it first.”

“Yes…”

Lee Soo-han reluctantly picked up the glass and emptied it. Wasn’t Go Seung-ju the only one among the heads of the business world’s secretariats that he found difficult?

As soon as Lee Soo-han emptied his glass, there was a knock.

[Chief, I brought it.]

“Come in.”

Go Seung-ju shouted towards the door, and the door opened with a creak, and a young man in a suit came in. He was holding a briefcase in his hand.

“Put it down here and finish your meal.”

Go Seung-ju dismissed the man and took out a file from the bag next to him and handed it to Lee Soo-han.

“Is this the offer?”

“There’s quite a bit of content, so I organized it into a document. Report and talk.”

Lee Soo-han, who received the file, opened the cover and slowly examined the paper inside.

“T, this is…”

“Our Chairman has raced [made a bet]. How is it?”

Unlike Go Seung-ju, who asked leisurely, Lee Soo-han’s mouth was drying up.

The work that Jang Ho-geon started to take care of his eldest daughter’s share, whom he brought in from outside, has become so big that it’s hard to decide on his own.

In the meantime, Go Seung-ju held a gentle smile and reached out his hand holding the kettle.

“Receive it [have a drink].”

“I’ll give you a drink too.”

“Please do.”

Lee Soo-han, who received the drink, desperately endured his trembling hands due to his pride, filled Go Seung-ju with alcohol, and then bumped glasses. Perhaps because of the spiciness of *Igangju*, Lee Soo-han frowned slightly and put down the glass.

“I don’t think I can decide this alone. I’ll report to the Chairman and see you again.”

“The Chairman said to readjust the scales if they don’t match. Please let me know before completion.”

Go Seung-ju smiled leisurely and filled the glass with alcohol again, but Lee Soo-han was no longer able to smile and drink alcohol because he was thinking about reporting back.

***

After finishing the meal, Lee Soo-han immediately entered Seonguiwon [Jang Ho-geon’s office] and handed the proposal given by Go Seung-ju to Jang Ho-geon.

“Is it true?”

“Yes, Chairman. Chairman Lee’s seal is stamped on it, so it’s certain.”

Lee Soo-han smelled of alcohol, but Jang Ho-geon was staring at the proposal as if he didn’t care.

“Yeongdeungpo Shopping Mall…”

“Yeongdeungpo Shopping Mall?”

“Hyung-nim, take a look too.”

Jeong Chang-ho, who was next to him, received the proposal from Jang Ho-geon and let out a soft exclamation after a while.

An ultra-large shopping mall with nearly 40,000 *pyeong* [Korean unit of area, approx. 3.3 square meters] of land to build on. Even he thought it was a business that Shinsegae wouldn’t envy. He was already turning his head to see how much the construction work would cost.

“The game has gotten too big. Chief Lee, didn’t Go Seung-ju say anything else?”

“He said to readjust the scales if they don’t match, and asked me to let him know before completion, CEO.”

Lee Soo-han had an expression that he was upset but couldn’t help it, and Jang Ho-geon and Jeong Chang-ho also only made sounds of silence.

“What are you going to do, Chairman? The Kazakhstan copper mine is a project that we’ve put a lot of effort into, isn’t it?”

“That’s right. They said they would convert the funds we invested into shares and pay dividends after the entrusted management is over… but we have to be able to trust those guys.”

Jang Ho-geon couldn’t easily come up with an answer.

Resource development in other countries is a business with as much risk as profit. From managing local public opinion to managing profits and losses, there is nothing easy.

On the other hand, Haedong Group’s joint venture in the Yeongdeungpo Shopping Mall guarantees a sure profit, even if it’s a little disappointing.

Since the construction work is also divided according to each share, they can take care of the construction work and re-enter the distribution business that Jang Ho-gyeong took, so he couldn’t help but worry.

Lee Soo-han carefully looked around and said.

“How about asking Haedong Group to match the scales? It might be a good idea for Haedong Merchant Bank to lend funds to Shinseong Electronics under good conditions.”

“Haedong Merchant Bank…”

Jang Ho-geon has 50 percent of Shinseong Life’s shares under his real name and borrowed names. However, due to the gentleman’s agreement signed to end the dispute at the time of inheritance, the funds of Shinseong Life and its financial affiliates could only be used as much as the shares.

For Jang Ho-geon, who is betting all-in on semiconductors to the point of using almost all of the quotas for such financial affiliates’ funds, a loan from Haedong Merchant Bank was an attractive story.

Lee Soo-han exchanged glances with Jeong Chang-ho and said to Jang Ho-geon, who was contemplating.

“If we raise 300 billion won, we can build a semiconductor factory with our 60 billion won. If the capacity increases, we will increase our market share and make more profit than the Kazakhstan project.”

Considering that the profit rate of the semiconductor business is soaring these days, increasing the semiconductor factory is like making a mint.

Every time he increased the semiconductor factory, he personally took care of everything from the factory construction method to the equipment, construction cost, and semiconductor production cost, so Jang Ho-geon could quickly calculate what was a profitable business.

“Make a contract and meet Chief Go.”

Even Jang Ho-geon of Shinseong Group couldn’t give up the sure thing in front of him.