Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 89

89. 27th. Ankle-Grabbing Tag (2)

I returned his smiling face with a smile, and Grandpa cleared his throat, composing himself.

“Explain in detail.”

“Yes, Chairman.”

I took a sip of the tea in front of me and began to unpack the things I had prepared.

“As everyone knows, the US presidential election is coming up at the end of the year.”

“I know. The second week of November, right?”

He’s truly knowledgeable. Remembering the elections in a country on the other side of the world—who would see Grandpa as an old man over seventy? As befitting the occasion, I hid my admiration and continued to express my opinions.

“Yes, Chairman. It is widely believed that Clinton will be re-elected in the United States.”

“Is that true?”

Grandpa’s eyes flashed. As someone who manages the group centered around a general trading company in Korea, sensitive to external variables, he seemed more than usually alert.

“Director Lee is correct, Chairman.”

I looked at Sun Hae-chul, who had jumped in, and passed him the baton. Sun Hae-chul’s words would be much more credible regarding the situation in the United States.

“The Dow Jones index, which was in the 3,300s at the beginning of Clinton’s term, has exceeded 5,000, and high-quality jobs have greatly increased due to the expansion of IT infrastructure and increased investment in the film industry. Except for the Republican stronghold in the South and the sparsely populated central agricultural belt, the Democratic Party is dominant everywhere.”

“I know, CEO Sun. It matches the report from New York.”

Up to this point, anyone with an overseas network could easily grasp the situation, so Grandpa couldn’t possibly be unaware. The ‘real’ information that Sun Hae-chul would present was from now on.

“Above all, Wall Street hedge funds are lining up behind the American Democratic Party.”

“Those guys again?”

Grandpa raised his voice and frowned. As you said before, aren’t they golden goblins who covet money more blatantly than Korean chaebols [large family-owned business conglomerates]?

Not only Grandpa but also the other adults in this room, aware of the hedge funds’ ruthlessness, focused their attention on Sun Hae-chul with serious expressions.

“Yes. According to information received from Henry, they are determined to get revenge because they didn’t make much money from the yen appreciation speculation because of us.”

What they are determined to do is, of course, money games, specifically currency speculation. Grandpa, who couldn’t be unaware of this, let out a groan.

“That’s understandable. We must have been their enemies.”

The hedge funds had reason to be vengeful. How much money did Triumph, Standard, our family, Shinseong, Taehyun, and GK fleece during the yen appreciation speculation? We devoured all the prime cuts, leaving them to chew on scraps with bits of meat still clinging to the bones, so they must be seething with anger.

“I’ll pass it on to Director Lee from now on, Chairman.”

Sun Hae-chul looked at me with a subtle smile and handed back the baton. His timing for striking and retreating was perfect.

“Speak, Director Lee.”

“Yes, Chairman. If the Jonggeumsa issue I mentioned at the beginning, the balance of payments issue intertwined with it, and the US presidential election that CEO Sun mentioned overlap, the entire East Asia region will become an ATM for Wall Street hedge funds.”

Grandpa opened his mouth with a stern expression.

“Are you saying that a foreign exchange crisis will erupt in East Asia?”

“Yes. A tsunami beyond imagination will sweep through.”

Grandpa wore a satisfied expression after hearing my answer. Did he see the whole picture with the answer I gave you?

“So… was that why you suggested entrusting it to Jang Ho-gun for a while? Half of the joint venture’s shares?”

“Yes. When the foreign exchange crisis hits, we can buy back the shares with the dollars we have secured.”

What use is investing in the future when you’re about to die because you don’t have cash on hand right now? I presented the final card to sway the adults’ hearts with a cold smile.

“I will regain the joint venture shares within three years. If I fail to do so, I will incinerate all the group shares I hold, Chairman.”

“Is that true?”

“Yes, Chairman. This study should be a place free of empty words, shouldn’t it?”

Grandpa stared at me intently with a stern expression, then relaxed his face.

“Good. Vice Chairman. CEO Tae.”

“Yes, Chairman.”

“I’ll give you a month. Include the plan that came out now and draw up the Yeongdeungpo redevelopment plan.”

“Understood.”

It was an unusually demanding order for Grandpa, but both of them answered promptly. Perhaps because they had avoided disaster three years ago by moving one step ahead of others, they seemed to trust me and Grandpa this time as well.

“Chief Ko, as soon as the business plan comes out, check the group’s cash flow with CEO Cho and arrange a meeting with Lee Soo-han.”

“Yes, Chairman.”

Grandpa then turned his gaze to Sun Hae-chul.

“How much progress has been made in purchasing North Limited shares?”

“A total of 78 percent, Chairman. The two companies have collected an equal amount.”

Perhaps because of the faster-than-expected collection, Grandpa’s eyes softened.

“I see. Keep collecting as you are now. CEO Bae, check the stock price and prepare for the acquisition.”

“Yes, Chairman.”

Finally, Grandpa said to me, who was left.

“Director Lee, whenever Shinseong Electronics asks to postpone the bond maturity, make sure to readjust the interest rate. Do you understand?”

I was going to do that even if Grandpa didn’t say it. Even if I became a son-in-law of that family, I wouldn’t be lenient, so why would I be considerate when I’m not even married?

“Yes. I will make sure to recoup even the losses I have suffered so far.”

Love is love, and business is business. I would never be lenient with Jang Ho-gun’s Shinseong Electronics and Shinseong Corporation, let alone Jang Ha-yeon’s Goryeo Hotel.

***

After sending Lee Dae-soo, Lee Sung-min, Sun Hae-chul, and Park Tae-jin out, Bae Jae-hoon drank the newly brought black tea with the five people.

“What do you think, Jae-hoon? Our eldest grandson’s plan?”

“I was too rash, haha.”

Bae Jae-hoon rubbed his buzz-cut hair with his hand and let out an embarrassed laugh.

“I think Sung-min is riding a shaman’s knife [being incredibly lucky or divinely inspired]. I saw the signs since the financial real-name system, but I think the plan to develop the Yeongdeungpo textile factory into a shopping mall two years ago and share it with Jang Ho-gun was a picture drawn with this in mind.”

“Hey, you! Why are you making my perfectly fine eldest grandson a shaman? Hehehe.”

Lee Dae-soo scolded Bae Jae-hoon and hid his true feelings, but he was also terrified. Wasn’t it fitting perfectly as if he had foreseen the future?

As the laughter subsided, Lee Dae-soo opened his mouth with a straight face.

“Jae-hoon.”

“Yes, Hyungnim [term of respect for an older brother or close male friend].”

“It was dangerous to bring up Ha-yeon’s story just now. It’s fortunate that it passed without incident; otherwise, the engagement oath might have come up.”

Bae Jae-hoon lowered his head at Lee Dae-soo’s stern voice.

“I’m sorry, Hyungnim.”

“It passed well, so let’s stop there. How much do you think we could get if we list the Kazakhstan copper mine and the Australian zinc mine on the overseas stock market?”

“Yes?”

Bae Jae-hoon wondered if he had misheard. Lee Dae-soo, who hated listing on the stock market, was asking about listing? Before being someone who called him ‘Hyung,’ he was being asked by the group’s chairman, so he quickly racked his brains.

“Considering sales and net profit, the Kazakhstan copper mine would be worth 1.5 billion dollars, and the Australian zinc mine would be worth about 600 million dollars, even if we estimate conservatively.”

“I see. Reassess the value of all the group’s assets to match the first-quarter settlement. The same goes for the first quarter of next year.”

Reassessing asset values increases the book value and stock price of the entire group’s assets, but it also increases inheritance costs. As the chief of staff of the Haedong Group, Ko Seung-joo couldn’t stand still and quickly stepped forward.

“Before that, how about transferring some of Chairman’s Haedong Corporation shares to Sung-moon, Sung-woo, and Sung-ah?”

“Are you saying to make a gift?”

“Yes. It’s presumptuous to say, but reassessing asset values will increase the gift tax on Haedong Corporation shares, Chairman.”

“This old man almost missed that.”

Haedong Corporation is an unlisted company, but Lee Dae-soo’s personality dictates that stock inheritance must be handled without any noise. However, he also doesn’t welcome unnecessary taxation, so Lee Dae-soo let out an embarrassed smile.

The gift that Ko Seung-joo suggested was a way for the Haedong Group to continue stably for generations. However, Lee Myung-jin, who would be the biggest beneficiary, hurriedly waved his hand.

“No, Hyungnim. How can we give inheritance to children who are only in their first or second year of college and a high school senior? It’s okay, Father.”

Lee Dae-soo smiled at his son, who declined with a look of reluctance.

“It would have been different in the past, but Haedong Corporation has become too big. If I had known this would happen, I would have handed it over before the yen appreciation speculation, hehe.”

“Father…”

“I’ll make your 25 percent stake into 37 percent by combining it with Sung-moon, Sung-woo, and Sung-ah’s shares.”

Lee Myung-jin couldn’t believe his father’s words. Lee Sung-min had made remarkable achievements, but inheritance for children who were just college students or about to go to college?

“Father?”

“They are all my proud children, so I have to take care of them equally. There must be a reward for their hard work to get into college, hehe.”

Lee Dae-soo’s second grandson, Lee Sung-moon, and third grandson, Lee Sung-woo, were respectively in their second year of the Department of Mechanical Engineering and first year of the Department of Electrical Engineering at Seoul National University, and his youngest granddaughter, Lee Sung-ah, who was in her senior year of high school, was also preparing to enter the Department of Architecture at Seoul National University, never missing the top spot in her class.

Lee Dae-soo’s gift was a present from a grandfather encouraging his grandchildren for their efforts to achieve those results and an incentive paid to the successors as chairman.

Lee Myung-jin, who had been silent for a while, opened his mouth with a stern expression.

“I would like you to pass on shares to Sung-min as well, Father.”

“Sung-min?”

“My children can inherit my shares later, but Sung-min only has 10 percent of the shares. He’s the eldest grandson of our family; can 10 percent be enough?”

“Hmm…”

Lee Myung-jin said to Lee Dae-soo, who was humming.

“Sung-min has achieved the company motto that we haven’t been able to keep since its founding. I think he is fully qualified, Father.”

After a moment of contemplation, Lee Dae-soo nodded.

“I understand. I’ll pass it on to Sung-min as well, so don’t decline any further and accept it.”

“Thank you, Father.”

“There’s no need to thank me. Instead, you have to create a proper trap for Jang Ho-gun to fall into. Shouldn’t you do your part as a father for your children?”

A father has to pay for the meals that his children can’t afford. Lee Myung-jin smiled at Lee Dae-soo.

“I will do my best, haha.”

“You have to. Chief Ko, prepare to transfer 10 percent of my shares to Sung-min. Transfer 4 percent each to Sung-moon, Sung-woo, and Sung-ah as well. Reassess the assets after that.”

“Understood, Chairman. All gift taxes will be processed in annual installments.”

All companies pursue perpetuity.

The Haedong Group also began a new journey to survive the upcoming war, whenever it may be, and to continue into the next generation.

***

The three of us returned to the office, drank coffee, and caught our breath.

“We almost had a big problem. We would have been in trouble if we hadn’t drawn up the Yeongdeungpo redevelopment plan.”

Sun Hae-chul’s feelings were my feelings. I don’t know how Jang Ho-gun knew about Hancock Prospecting, but didn’t we stop what could have been blocked with a bulldozer with a hoe? It was a plan that I vaguely started because I wanted to control the butterfly effect that could erupt at any time, but it fortunately worked out.

“That’s right, Uncle. It was a close call.”

“Hey, did you receive a shamanic initiation? It’s like you’re riding a shaman’s knife every time you do something.”

I wanted to tell Sun Hae-chul that I had come back up the river of death instead of receiving a shamanic initiation, but this time, it was truly unexpected. It was something I prepared because of the Panama copper mine project, and it blocked the Australian project, so I had no choice but to call it luck.

Park Tae-jin looked at the two of us, took a sip of coffee, and put down the cup.

“Whatever the reason, it’s fortunate that the result was good. As the Chairman said before, it seems that good fortune follows Young Master, haha.”

“Is that so? Haha.”

I mumbled vaguely and drank coffee to hide my embarrassed expression.

While drinking coffee, something suddenly came to mind.

“Uncle.”

“Why?”

“How did CEO Bae know that I like Noona [term of endearment for an older sister or female friend] ?”

It was strange. I clearly only told these two people and Grandpa…

Sun Hae-chul clicked his tongue at me.

“Hey, CEO Bae is someone who calls the Chairman ‘Hyung.’ Is it strange that someone like your great-uncle knows?”

“Is that… so?”

“‘Is that so’ is rude, you rascal.”

Sun Hae-chul scolded me, who tilted my head, and took a sip of coffee.

“Haha… that’s true.”

Sun Hae-chul, who put down the cup, suddenly burst into laughter. Did the wind get into his lungs?

“What’s wrong, Uncle?”

“Do you know a movie called ‘The Sting’?”

I don’t know why he’s suddenly talking about an old movie, but I nodded.

“I know. There’s a film in Grandpa’s vault, and I have a video at home, so I’ve seen it a few times.”

“Do you know the plot of that movie?”

“Hooker scams Lonnegan to get revenge. Lonnegan doesn’t even know he’s been scammed by Hooker until the end and gets caught by the FBI, hehe.”

“Your future father-in-law is just like that Lonnegan. Isn’t he?”

Sun Hae-chul laughed heartily at me, and Park Tae-jin and I also burst into laughter. Jang Ho-gun will never know that our Yeongdeungpo redevelopment was designed to block his entry into the Australian project.

###

As Lee Sung-min went to the bathroom, Sun Hae-chul stroked his chest.

“I almost had a heart attack.”

It was fortunate that he diverted the conversation with a movie story; otherwise, that smart guy would have noticed soon. That all the adults in the family know about Lee Sung-min and Jang Ha-yeon’s relationship.

“You did well, Hyungnim.”

Park Tae-jin also let out a sigh of relief.

“CEO Bae’s reverse scale [something that angers or offends someone] is unavoidable.”

“It can’t be helped. He was close to the people who worked in the two factories since the textile department. He didn’t even set foot in Samcheong-dong for a year when the factory closed, did he?”

The two swallowed hard when Bae Jae-hoon lost his temper and talked about Jang Ha-yeon and Lee Sung-min. It was fortunate that they focused on the business issues; otherwise, a major accident would have occurred if Lee Sung-min had gone off on a tangent.

“We need to get that guy married off soon…”

“That’s what I’m saying.”

Sun Hae-chul looked at Park Tae-jin and shook his hand with only his pinky finger extended.

“You still don’t have anyone?”

“Don’t worry. I’ll show you when the time comes, hehe.”

Seeing Park Tae-jin smiling, Sun Hae-chul began to wonder who would be next to that rigid guy.