The Conglomerate Family Became A Villain [EN]: Chapter 150

150. Uninvited Guest (4)

January 1985.

The Daewoon Group had officially entered the heir succession battle.

As planned, Jung Min-seok was appointed as the president of Daewoon Construction, taking command of the company, while Jung Min-young was appointed as the vice president of Daewoon Corporation, setting him up to compete against his brother.

The presidents of Daewoon Group’s various affiliates were constantly trying to gauge Chairman Jung Woo-sun’s intentions.

“The Chairman is showing favoritism from the start,” one of them said.

Daewoon Corporation’s President Lee Moo-ho frowned at Executive Director Go Hyun-moo’s words.

“He couldn’t immediately appoint Executive Director Jung, who is still at the executive managing director level, as the president of a key affiliate.”

Jung Min-young had to face his brother from the position of vice president, not as the president of an affiliate. Since Chairman Jung Woo-sun had stated that he would prioritize performance, this was clearly a disadvantageous condition.

“It’s us who are in trouble now.”

By appointing Jung Min-young as the vice president of Daewoon Corporation, Chairman Jung Woo-sun had inadvertently dragged the executives of Daewoon Corporation into the heir succession battle.

“We can’t go against the Chairman’s wishes.”

“What will you do?”

“What do you mean, ‘What will I do?'”

“President, shouldn’t you decide which side to take?”

President Lee Moo-ho groaned softly.

“Umm.”

He had three options.

The first was to remain neutral.

In this case, depending on his judgment, the situation could develop favorably or unfavorably for Jung Min-young.

‘This way, I might incur the resentment of both sides depending on the situation,’ he thought.

The second was to side with Jung Min-young. This would involve supporting him to achieve maximum performance while reflecting his opinions in management as much as possible.

‘If Vice President Jung Min-young wins the heir succession battle, I might be able to aim for a position higher than the president of an affiliate. However, the chances of Jung Min-young, who is at a disadvantage from the start, defeating President Jung Min-seok are not high.’

The last, third option was to oppose Jung Min-young.

‘Side with President Jung Min-seok and obstruct Vice President Jung Min-young. This is the easiest path.’

It was also the most effective path, but he hesitated to choose it.

‘The Chairman must also know that this third option is the easiest path.’

Would Chairman Jung Woo-sun simply stand by and watch him disrupt the heir succession battle?

‘Of course not.’

The moment he created a situation unfavorable to Jung Min-seok, he might be removed from his position as the president of an affiliate.

‘The choice, in the end…….’

President Lee Moo-ho chose the first path.

“I will remain neutral.”

Executive Director Go Hyun-moo’s eyes widened as if he hadn’t expected this.

“Neutral?”

“Is there a problem with that?”

“Th, that is…….”

President Lee Moo-ho saw through Executive Director Go Hyun-moo’s thoughts.

“You thought you could gain a great advantage by joining hands with President Jung Min-seok.”

Executive Director Go Hyun-moo lowered his head.

“I thought so.”

President Lee Moo-ho slowly shook his head.

“That’s not the case.”

He told Executive Director Go Hyun-moo what he had thought about earlier.

After listening to his explanation, Executive Director Go Hyun-moo placed his hands on his knees, looking like he realized he had been short-sighted.

“I almost led you into a trap, President.”

President Lee Moo-ho shrugged instead of blaming him.

“Don’t worry. If I were the kind of man who could be swayed by your words, I wouldn’t be sitting in this position.”

He affirmed that he was above Executive Director Go Hyun-moo.

‘The problem is how far to maintain neutrality.’

President Lee Moo-ho knew that remaining neutral was not as easy as it seemed.

‘This is probably the most difficult path.’

Just as he was sighing inwardly,

Beep.

The intercom rang.

President Lee Moo-ho immediately pressed the intercom button and asked,

“What’s the matter?”

“Vice President Jung Min-young is requesting to see you, President.”

Executive Director Go Hyun-moo’s eyes widened again.

“Speak of the devil…….”

As he hurriedly stood up, President Lee Moo-ho raised his right hand and said,

“It’s alright. Stay seated.”

President Lee Moo-ho pressed the intercom again.

“Tell him to come in.”

“Understood.”

As the secretary’s response ended, the door opened and Vice President Jung Min-young appeared.

“Good afternoon.”

President Lee Moo-ho received the greeting without getting up from his seat.

“Are you well?”

He wanted to establish a clear hierarchy.

‘Since I said I would remain neutral, there’s no need for me to bow to him.’

Jung Min-young spread his hands and said,

“Oh, you have a guest.”

“What guest? Aren’t we all family?”

Executive Director Go Hyun-moo and Vice President Jung Min-young had encountered each other several times in executive meetings.

Executive Director Go Hyun-moo stood up and slightly bowed his head.

“It’s a pleasure to see you, Vice President.”

Jung Min-young raised his right hand and accepted his greeting.

“It’s alright. Don’t get up.”

Until last year, Executive Director Go Hyun-moo’s rank was higher than his. However, this year, the situation had changed.

Jung Min-young had jumped two ranks and now stood before Executive Director Go Hyun-moo.

President Lee Moo-ho asked Jung Min-young,

“So, what brings you here?”

He had received the vice president promotion greeting a few days ago.

“I’m here to offer my opinion on deciding the company’s direction.”

“Deciding the direction?”

“Shouldn’t we decide the direction for this year in January?”

President Lee Moo-ho unknowingly clenched his fist slightly.

“Are you saying we should decide the direction for this year in this meeting?”

“I’m not saying we should decide it in this meeting, but I came to offer my opinion.”

Executive Director Go Hyun-moo realized that President Lee Moo-ho was confronting Jung Min-young head-on, contrary to his statement that he would remain neutral.

‘President Lee Moo-ho isn’t even telling Vice President Jung Min-young to sit down.’

President Lee Moo-ho had instinctively realized that if he yielded here, he would hand over the company’s leadership to Jung Min-young.

Jung Min-young also had no intention of backing down easily.

‘I can never become the chairman of Daewoon Group if I can’t even control one Lee Moo-ho.’

He raised his right hand and said,

“If the timing isn’t good, I’ll visit you again tomorrow morning.”

President Lee Moo-ho shook his head.

“No. Speak here.”

His gaze remained fixed on Jung Min-young.

“Our Daewoon Corporation needs to pay attention to both exports and imports. According to recent news from the United States, the relationship between Japan and the United States is unusual.”

President Lee Moo-ho snorted lightly.

“Are you talking about the Reagan-Nakasone summit?”

He thought he knew that much.

“I heard a little about the story behind that summit.”

“The story behind it?”

Jung Min-young wore a relaxed smile.

“I have connections in the Blue House [South Korean presidential residence], you see.”

Everyone in Daewoon Group knew that his father-in-law was the Senior Secretary for Civil Affairs at the Blue House.

“Ummm.”

President Lee Moo-ho could only groan softly.

Jung Min-young didn’t like suppressing others by borrowing the influence of his father-in-law instead of his own abilities.

‘But in a one-year battle, I can’t only stick to the orthodox method.’

He was willing to use any means necessary to achieve his goal.

“You’re not going to reject the information I brought just because it’s not from a proper route, are you?”

President Lee Moo-ho sighed briefly and said,

“Hoo……. I’m a businessman. I have no reason to refuse if it’s a profitable venture.”

He meant that he would listen to Jung Min-young’s story.

Jung Min-young nodded lightly and began to speak.

“As I said before, the relationship between the United States and Japan is unusual. Even if other affiliates don’t, our Daewoon Corporation can’t just stand by with worried faces.”

He meant that they needed to take practical measures.

President Lee Moo-ho asked him,

“What measures are you thinking of?”

Jung Min-young answered with his right hand raised.

“We need to secure yen. As much as possible.”

President Lee Moo-ho raised his eyebrows at his words.

“Yen?”

“If the conflict between the United States and Japan deepens, the exchange rate will change.”

“But isn’t the yen still stable?”

Throughout 1984, the KRW/JPY [Korean Won/Japanese Yen] exchange rate had been stable.

Finally, Executive Director Go Hyun-moo, who had been silent until now, spoke up.

“Wouldn’t it be better to secure more dollars instead?”

Every time international oil prices fluctuated, Daewoon Group had to suffer from a dollar shortage.

In fact, Jung Min-young had also wondered if they should secure more dollars.

However, Jung Hyun-woo had repeatedly emphasized that he should secure yen.

– Secure yen. If you can’t secure yen, you’ll never be able to sit in the chairman’s seat of Daewoon Group.

He thought that there must be a reason why Jung Hyun-woo was talking so strongly.

“It’s yen, not dollars. The reason why the United States is pressuring Japan is also because the value of the yen is undervalued.”

“Will Japan raise the value of the yen as the United States demands?”

If the value of the yen rose, the price competitiveness of Japanese products would inevitably decline.

The Japanese government was reluctant to do so.

“What if this LA summit is a summit for that demand?”

President Lee Moo-ho thought to himself.

‘To think he’s even aware of the international situation.’

The Jung Min-young he had expected was a typical young master. He thought he was a man who was bright in theory but weak in practice, hasty and full of enthusiasm.

But the man standing before him seemed far from a young master.

“Are you saying you heard this from your father-in-law?”

“I couldn’t have heard it directly from LA, could I?”

He couldn’t just let go of the high-level information coming from the Blue House.

‘If I bury this story, Vice President Jung will run to the Chairman.’

He couldn’t help but be mindful of Chairman Jung Woo-sun.

“High-level information from the Blue House. Let’s hear more details.”

President Lee Moo-ho finally gestured for Jung Min-young to sit down.

Jung Min-young sat down with a triumphant smile.

‘President Lee will no longer be a problem.’

Although it wasn’t his preferred method, he had borrowed the influence of his father-in-law to take over the leadership from President Lee Moo-ho.

* * *

“We’ve decided to gather yen.”

The one who called Jung Hyun-woo was Jung Min-young.

“Well done.”

“The yen will definitely go up, right?”

If his prediction was wrong, Jung Min-young himself would have to bear all the responsibility.

“It will definitely go up.”

“Alright, I’ll trust your words, Hyun-woo.”

Jung Hyun-woo was confident that the Plaza Accord [agreement signed in 1985 by the G5 nations to depreciate the U.S. dollar relative to the Japanese yen and German mark] would be reached this year.

‘Both the political and economic circles want the Plaza Accord.’

The economic conflict between the United States and Japan had reached its peak. The previous summit had not resolved the conflict at all.

“Do you talk to Director Hong often?”

Jung Min-young shook his head and replied,

“It’s been awkward to talk to Director Hong lately.”

“Is it because of the last incident?”

“Probably.”

It seemed difficult for Director Hong Won-ik and Jung Min-young to form a team for the time being.

‘It would be fine if he just passed on the news quickly.’

Jung Hyun-woo decided to change the subject.

“How is Daewoon Construction doing?”

“I haven’t heard any news yet.”

“Does that mean they’re moving cautiously?”

“It’s probably because it’s the beginning of the year.”

Jung Min-young expected Jung Min-seok to focus on the Middle East for the time being.

‘If I’m betting on the yen, my brother will bet on the Middle East.’

It was a fight where whoever broke would lose.

“Uncle, if there’s any news from the United States, I’ll let you know right away.”

“I’ll trust you for now.”

Jung Hyun-woo hung up the phone and sighed deeply.

“Hoo……. It’s an awkward time.”

It was an awkward time to go back to sleep.

Knock. Knock.

The sound of knocking on the door.

Jung Hyun-woo knew who the protagonist of this sound was.

“Sarah, it’s okay. Come in.”

Sarah opened the door and asked,

“Charlie, what are you doing at this hour?”

“I just received a phone call.”

“A phone call?”

“A call from Korea.”

Sarah sighed briefly.

“Hmm……, was it a call you shouldn’t have received at the company?”

“I thought it would be difficult because of the time difference.”

“So, did the call go well?”

“So-so.”

Sarah crossed her arms and checked her watch.

“But it’s an inconvenient time, isn’t it?”

There were about 1 hour and 30 minutes left until work. If he went to bed right now, he might be able to sleep for another hour.

“Shall we go to work a little early?”

Sarah unfolded her arms and replied,

“If we go to work early, the employees will be in trouble. Come downstairs and have a cup of coffee.”

Jung Hyun-woo followed her down to the first floor.

Turning his gaze out the window, he saw many houses with lights on.

“It seems like there are many people going to work early.”

“People who have to drive for more than an hour have to get up now.”

A significant number of Boston residents commuted to surrounding universities. Among them, there were quite a few who had to drive for more than an hour, as Sarah said.

“Do we have employees like that in our company?”

Sarah answered while making coffee.

“Not many, but there probably are.”

Jung Hyun-woo sat on the sofa and raised his voice.

“Then shall we move our headquarters to a place with good transportation?”

Sarah didn’t think it was necessary.

“Isn’t downtown transportation good enough? And if we move the company, what are we going to do with all those lines?”

She thought it was realistically difficult to relocate Victoria Corporation’s headquarters.

“I guess……. That’s true too.”

“Besides, how long has it been since we bought the headquarters building?”

Sarah recalled when she bought the headquarters building.

‘I went into the empty office with Charlie.’

She said while grabbing a mug.

“Right now, even building a data center is a headache.”

Sarah was also in charge of building Victoria Corporation’s dedicated data center.

Jung Hyun-woo thought that too much work was concentrated on her.

“Sarah, let’s hand that over to someone else.”

“Of course, I handed over the design and that kind of stuff. But I have to take the lead on money and permit-related matters.”

Sarah poured the first coffee and handed the mug to Jung Hyun-woo.

“Here, it’s Ethiopian.”

Jung Hyun-woo took a sip of coffee and shared his impressions.

“Hmm, it’s nutty and sour.”

“Ethiopian coffee doesn’t have a deep bitter taste.”

Jung Hyun-woo thought the taste was quite different from Starbucks coffee.

‘But I think Starbucks is better for iced Americano.’

Sarah poured the second coffee and asked,

“Charlie, you’re going to do the meeting with Citibank yourself, right?”

“I’m the CEO, after all.”

Citibank had formally requested cooperation. Therefore, he thought it was polite for him to personally participate in the negotiations.

‘It’s not time to be arrogant yet.’

Citibank was the key for Victoria Corporation to move to the next level.

“Then I’ll set the meeting date considering Charlie’s schedule.”

This time, Jung Hyun-woo asked her,

“Sarah, are you okay? You’re in charge of everything from the data center at Microsoft to Bank of America and JP Morgan. I think you need to reduce your workload.”

Sarah’s work didn’t end with managing external clients. As CFO, she was responsible for all of Victoria Corporation’s cash flow and investments.

In other words, she had to check all the money moving in Victoria Corporation.

“It was hard in the past, but it’s okay because the department staff has increased.”

It was still better than in the early days when she didn’t have a business support team and handled everything alone.

“Sarah, let’s increase it a lot this time.”

“What?”

“The number of business support team staff.”

Sarah shrugged at Jung Hyun-woo’s words.

“It’s more important to operate the current employees efficiently than to hire a lot of people indiscriminately.”

She poured the second coffee and came to sit next to Jung Hyun-woo.

“Are you going to visit New York too?”

In order to proceed with business with Citibank, JP Morgan’s consent was required, just like with Bank of America.

“Let’s go together, Sarah.”

“Me too?”

“I think it would be good to go and check on the progress of the IPO as well.”

“What about the company?”

Robert was often away from the company for external meetings.

“Young will be fine for a few days.”

Young Bolton served as the head of Victoria Corporation’s Development Team 1 and is currently in charge of the Development Division.

In 1985, his position in Korean terms was roughly between managing director and executive director.

“Hmm, will it be okay?”

Sarah seemed to trust Young Bolton.

Jung Hyun-woo said while holding up his mug.

“Let’s trust people who are older than us.”

Many of Victoria Corporation’s employees, including Young Bolton, were older than Jung Hyun-woo, as well as Sarah.