Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 97

97. 29th. Gleaning in Australia (1)

Grandfather looked at me and opened his mouth.

“Director Lee.”

“Yes, Chairman.”

Judging by the change in title, it seemed like a work order. Could it be?

“If Hancock says they’ll sell their mining stake, go to Australia with CEO Bae. Director Park, you go too.”

“Ch, Chairman?”

I couldn’t believe it. If they said they would sell the mining stake, the contract was practically done, but he was sending me too?

Grandfather chuckled, looking at Park Tae-jin and me, who were blinking.

“Doesn’t CEO Bae have something to resolve with him? Think of it as getting some fresh air.”

“Chairman…”

Bae Jae-hoon looked at the chuckling grandfather with a resentful expression. Did he ask for this because our relationship almost went sour last time?

While alternating between looking at the two old men, Bae Jae-hoon cleared his throat and looked at me.

“I’m sorry about what happened last time, Director Lee.”

“No, CEO. I should have told you the reason first and then the main point; it was my fault.”

For an elder to apologize to a child is nearly impossible without great courage. I quickly bowed my head at Bae Jae-hoon’s apology, who was the next oldest after Grandfather.

“Seeing you mortgaging yourself for the sake of the family and the group, I felt ashamed. From now on, I will listen to your words.”

This was troubling. I was worried about how he would react if he found out that Standard Capital was my company. Still…

“…Thank you, CEO.”

I had to maintain etiquette in this setting, so I pulled myself together and greeted him. Grandfather nodded with a satisfied expression.

“With this, let’s all forget what happened last time. When the signal to glean drops, go quickly.”

“Yes, Chairman.”

The 50 percent stake in Hope Downs and Roy Hill that I will obtain this time will be two grains of wheat that will create a golden wheat field in Australia.

***

While Haedong Group was preparing to glean, Jang Yong-jae experienced the bitter taste for the first time in his life, and likely the last, as he listlessly crossed the arrival gate at Gimpo Airport.

“Thank you for your hard work. Let’s have a company dinner next time.”

“I’m sorry, Managing Director.”

Leaving the staff, who were bowing deeply, behind him, Jang Yong-jae went straight to Seong Clinic and knelt before Jang Ho-geon.

“I’m sorry, Chairman.”

Jang Yong-jae didn’t dare to look at his father’s stern face, nor did he dare to call him Father. How could the eldest son, the one who was supposed to succeed his father and become the owner of the chair his father sat in, return after suffering such a disgraceful humiliation?

Jang Ho-geon placed his fist on the kneeling knees and stared intently at his bowing eldest son with a stern gaze.

How long had it been? Jang Ho-geon sighed and opened his mouth.

“What do you think you did wrong?”

“Yes?”

“I’m asking if you’ve reflected on what you did wrong in this project.”

Jang Yong-jae lowered his head again and began to review what he had done wrong in this negotiation.

However, no matter how much he thought about it, he couldn’t find an answer. What on earth had he done wrong? Was comforting a woman with a broken heart a sin?

After a long time, Jang Ho-geon began to tell his son, who couldn’t come up with an answer, the answer.

“Yong-jae.”

“Yes, Chairman.”

“Do you remember when your father used his own money to acquire Daehan Semiconductor when he was young?”

“Yes. Thanks to that, Shinseong Electronics was able to enter the semiconductor business, wasn’t it?”

As Jang Yong-jae answered, his face turned pale at the sight of his father’s bitter smile. Jang Ho-geon began to tell the story, looking at his son’s face.

“Do you also remember that your father was on the verge of bankruptcy not long after acquiring Daehan Semiconductor?”

“But wasn’t that the destiny of the times? How could we have been successful from the beginning when there were already leading players?”

Even though Jang Yong-jae said it wasn’t his fault as if it were absurd, Jang Ho-geon shook his head.

“What happened to that company?”

“It was absorbed and merged into Shinseong Electronics…”

Jang Yong-jae’s eyes widened as his words trailed off.

“Did the late Chairman deliberately merge it? To erase it?”

It felt like he was challenging his father, but Jang Yong-jae revealed all his thoughts. Wouldn’t it be better than answering vaguely? His deceased grandfather, Jang Byung-ho, was a man who would have done that.

Only then did Jang Ho-geon nod, looking at his son. With a bitter expression.

“Your grandfather, who passed away, was a man who always succeeded. He thought my failure was a blemish on his life, so he had Daehan Semiconductor absorbed into Shinseong Electronics.”

“Chairman…”

Jang Yong-jae couldn’t continue speaking and looked at his father with a miserable expression. To think that such a cruel story was hidden…

“After that, your grandfather would get furious like a thunderbolt at anyone who brought up that story. Whether it was criticism or comfort.”

Jang Yong-jae’s eyes widened as he listened to his father’s bitter failure story.

“Then, Jane Leonhardt too…?”

“It will be the same. That woman’s dead father and stepmother’s relationship, the lawsuit with her stepmother, it was a past she wanted to erase, a past she didn’t want anyone to know.”

Despair covered Jang Yong-jae’s face.

It was an answer he could have found if he had thought about it a little more, but didn’t he ruin things because he was intoxicated with haste and confidence?

“I’m sorry, Chairman.”

“After Daehan Semiconductor, your father prepared and reviewed everything repeatedly. The world is wide and there is much to do, so take this as a lesson and look at things from various angles and act. There won’t be a second time.”

Although he spoke heavily, Jang Ho-geon only felt heavy-hearted and sorry for his eldest son, who would develop calluses like himself.

***

Some time later.

I, Bae Jae-hoon, Park Tae-jin, and the staff from Haedong Corporation’s trading division, along with the staff from Haedong Corporation’s Australian subsidiary in Sydney, gathered in Perth, Australia, by plane.

Australia.

For ordinary people, it is famous for Ayers Rock [now known as Uluru, a large sandstone rock formation], kangaroos, koalas, Australian premium beef, and beautiful natural environment.

However.

For businessmen like us, Australia is famous as a treasure trove of resources. Iron ore, coal, copper, zinc, oil, and natural gas are a given, and lithium and shale gas are inexhaustibly buried, so it was like heaven.

In such Australia, Jane Leonhardt is the owner of Hancock Prospecting, which owns the development rights to Roy Hill, the largest single iron ore mine in Australia, and Hope Downs, which is smaller than Roy Hill but has good profitability.

This woman, who would later reign as the ‘Empress of the Mining Empire’ and ‘World’s Richest Woman’ with Roy Hill and Hope Downs as her two pillars, agreed to negotiate, so we were now preparing for negotiations with a hotel in Perth as our base camp.

“How much do they seem to want?”

“The Hancock side’s staff hinted that we need to match at least 500 million US dollars as a base.”

Bae Jae-hoon, sitting at the head of the conference table, nodded at the report from Ma Young-min, who was sitting directly to his right.

“500 million dollars is the maximum we had anticipated.”

“Yes. Hancock wants us to subscribe for 200 million dollars each through a rights issue [offering existing shareholders the right to buy more shares] when they establish Hope Downs Holdings and Roy Hill Holdings as subsidiaries, and they want us to acquire 10-year bonds with an annual interest rate of 6 percent, worth the remaining 100 million dollars, issued by Hancock Prospecting.”

I and Bae Jae-hoon nodded at the conditions from Hancock that Ma Young-min conveyed. Didn’t our group also prevent Haedong Corporation and Haedong Securities from being listed on the stock market because we didn’t want outsiders to interfere?

“We can accept those conditions as much as they want. What are the other conditions?”

“That’s…”

As Ma Young-min trailed off, Bae Jae-hoon said with a gentle expression.

“Speak without burden, Director Ma. This matter is being fully supported by the chairman and the group’s top management. I have also come here with full authority delegated by the chairman, so don’t worry.”

Despite Bae Jae-hoon’s affable expression, Ma Young-min opened his mouth with a firm expression.

“…They want us to guarantee all the funding needed for the mine development.”

“What?”

Ma Young-min and the staff from the Australian subsidiary lowered their heads as Bae Jae-hoon’s voice rose, and the people from the headquarters, including Park Tae-jin, made sounds of suppressed sighs. It was absurd that a company that was still struggling to pay taxes was acting arrogant towards Haedong Corporation, which held more than 4 billion US dollars in cash.

Thump!

“These damn bastards!”

Bae Jae-hoon shouted and slammed the table with his clenched fist. How frustrating would it be that a company that was still struggling to pay taxes was acting arrogant towards Haedong Corporation, which held more than 4 billion US dollars in cash?

Bae Jae-hoon grabbed the cup next to him and drank the water. He not only drank the ice water in one gulp but also put the ice in his mouth and chewed it with a crunching sound. Seeing that, everyone, including me, swallowed hard and held their breath.

Around the time the crunching sound stopped, Bae Jae-hoon’s expression turned coldly.

“Are they saying they want it right away?”

“That’s not it, but they said they would like to proceed with the project within the next five years. They also said that if the funding problem is resolved, they will entrust all the mine infrastructure construction to Haedong Construction.”

Listening to Ma Young-min’s answer, it didn’t seem all that bad. If things went well, it seemed like Haedong Corporation would have another source of income. Quickly turning my head, I called Bae Jae-hoon.

“CEO.”

“What is it, Director Lee?”

“May I contact CEO Seon?”

As I asked for permission, a smile appeared on Bae Jae-hoon’s face as he looked at me.

“You wouldn’t happen to be…?”

“I will ask the headquarters through CEO Seon. I was wondering if Director Park could come with me, would that be okay?”

“Hey, you did that last time; if you do it again, I won’t have the face to see the chairman…”

Bae Jae-hoon showed his reluctance, but I smiled at him.

“It’s okay, CEO. I have an idea for a business that will be profitable enough for Standard, so it will be possible.”

“…Go ahead.”

After receiving Bae Jae-hoon’s hesitant approval, the two of us went out into the hallway.

“This construction will cost at least 3 billion dollars. It’s more than 30 percent of Standard’s assets under management; are you sure it’s okay?”

Park Tae-jin looked at me with worried eyes, and I nodded.

“I exist because there is a family and a group, Hyung [older brother]. My family, the CEO, the staff, everyone is our family, our group’s people, right?”

All the money I earn is military supplies that I am collecting to raise our family and Haedong Group and to trample on Shinseong Group and the Jang family. If the war continues, are military supplies that are only collected without being used, military supplies?

“If we have to use it in five years, there is plenty of time. The US stock market also has good returns, so don’t worry, Hyung.”

As I spoke calmly and met his firm gaze, Park Tae-jin smiled.

“I understand, Young Master. But if you think about the group, you need to set the interest rate low…”

I saw Park Tae-jin showing a hint of regret and told him the solution.

“I plan to create a subsidiary jointly managed by North Limited and Standard, which will be acquired this time, with 50 percent each, to manage the mineral transport railway to the port. All the funds will be supported by Standard.”

If the railway connecting Hope Downs and Roy Hill is extended inland, it will reach the iron ore mines that will be developed in about 10 years.

Those mines are currently left unattended because they are not profitable at the current raw material prices, but if the iron ore prices skyrocket due to China’s economic growth, Australia’s FMG [Fortescue Metals Group] will develop them. In this life, I will sweep up those mines as well, so we must control the railway and port.

I couldn’t tell him this fact, but Park Tae-jin’s eyes sparkled. The corners of his mouth were also slightly raised, as if a green light had turned on.

“There was such a method.”

“How is it?”

“If you do that, you can recover the investment costs through dividends or bonds. You can also leave a profit by selling the stake in the future.”

“Right? Hehe.”

The method I have come up with now was the same thing that Australia’s investment bank, Macquarie Group, had done with highways and tunnels in Korea. For Jane Leonhardt, who has no money, it would seem that we are taking on the heaviest burden, so the possibility of accepting it was high.

“My brother will also agree. Because it’s a way that will benefit Standard.”

Unlike before, I smiled at Park Tae-jin, who had a cool expression, and then called Seon Hae-cheol to tell him about the local situation.

[That’s good, isn’t it?]

“Uncle?”

I didn’t expect Seon Hae-cheol to say okay right away. What’s wrong with the guy who was uneasy about my business plan?

[It’s not just good. If that model is introduced to public infrastructure, it will make some money! Thank you, hehe!]

“It’s nothing, Uncle. Please just match my story in case the CEO calls. Please also prepare the contract.”

As expected, Seon Hae-cheol was also a pro. He quickly grasped the infrastructure fund business model. The only thing left was Bae Jae-hoon’s call?

***

We went into the room and announced the plan to establish a railway-port subsidiary while receiving investment from Standard Capital, and the eyes of Bae Jae-hoon and the staff widened.

“Is that true, Director Lee?”

“Yes, CEO.”

Bae Jae-hoon exclaimed as he looked at me, who was speaking calmly.

“It seems like I’m always burdening Director Lee with this.”

This level of burden is nothing. What could be more important to the head of the family and the owner than making sure that the family and group members all eat well and live well?

“It’s nothing, CEO. It’s possible because the headquarters trusts me.”

“Still, aren’t you overdoing it?”

Bae Jae-hoon looked at me with worried eyes, and the staff in this place also looked at me with concerned eyes. Is it because it looks like the eldest grandson of the chairman is being mortgaged to someone else’s house? It seemed like I had to ease their burden.

“Yahoo, which was listed on the US stock market this time, is the work of me, Director Park Tae-jin, and CEO Seon Hae-cheol, CEO.”

“Yahoo?”

As soon as I said that, Bae Jae-hoon and the staff began to stir. Park Tae-jin swallowed hard and looked at me, but I wasn’t a fool, so I was going to reveal only as much as necessary.

“It was January of the year before last. When I went to the United States, I went to California with CEO Seon…”

I went to Stanford University and met Jerry Yang and David Filo, and I only revealed that I ate pizza with them and led the founding of Yahoo, and Bae Jae-hoon’s eyes widened.

“Is that true, Director Park?”

“Yes, CEO. Thanks to Director Lee, CEO Seon, and me suggesting the founding to the two of them at the time, the current Yahoo was born.”

While watching me tell the story, Park Tae-jin seemed to have grasped my intention. He also didn’t say a word about my investment, so there would be no reason to be suspected.

“So that’s why Standard didn’t want to miss Director Lee?”

“You flatter me, CEO. Still, considering that the headquarters bought me in advance, it will be possible to raise funds on good terms.”

The atmosphere changed in an instant. Is it because it was confirmed that the eldest grandson of the chairman was recognized by a large foreign investment company? Smiles bloomed on the faces of not only Bae Jae-hoon but also the staff.

“I’m going to press that bitch’s nose, hahaha!”

Bae Jae-hoon’s hearty laughter was my feeling.

Wait, Jane Leonhardt.

The price you paid now will have to be paid back to our family for decades.