The Conglomerate Family Became A Villain [EN]: Chapter 191

191. Victoria Fund (5)

Chairman Jung Woo-sun’s eldest daughter, Jung In-hae, and her younger sister, Jung Hye-suk, met just before the Chuseok [Korean Thanksgiving] holiday.

“You’re here already?”

Jung In-hae waved to acknowledge her sister’s greeting.

“I thought the traffic would be terrible, but it wasn’t.”

“Oh, you moved, right, Unnie [older sister]?”

“Yes, moving to Gangnam, I feel a little… isolated crossing the Han River.”

“Are you worried about traffic jams on the bridge?”

Jung In-hae answered, lifting her teacup.

“No, it’s just that Gangbuk’s roads are so narrow.”

Back in the 1980s, Gangnam felt like a brand-new city within Seoul.

Straight roads, a grid-like street layout, and infrastructure that was still under development.

Therefore, it wasn’t yet considered a wealthy neighborhood.

Jung Hye-suk, who lived in Pyeongchang-dong, dismissed Gangnam with a hint of superiority.

“Hoh ho ho, it must be crowded there because it’s downtown. Gangnam is still just a sprawling, undeveloped area.”

In 1985, the center of Seoul was undeniably the Gangbuk area, encompassing Jongno and Gwanghwamun.

Even when the Dongho Bridge opened that same year, news reports emphasized that it reduced travel time from Gangnam to Gangbuk to within 10 minutes, highlighting Gangbuk’s strong economic dominance.

“Undeveloped? Gangnam is developing so quickly. Why don’t you move to Gangnam too?”

“Unnie, Gangnam is a bit much, even compared to Dongbu Ichon-dong.”

The two sisters continued their subtle, tense exchange.

“Hye-suk, did you know? After the Olympics [1988 Seoul Olympics], Gangnam will become the center of Seoul.”

“Really? They are building a lot of apartments in the south, but wouldn’t it be difficult to become the center?”

“My husband said that’s the plan of the Seoul Metropolitan Government and the national government.”

Jung In-hae’s husband was the branch manager of Hongik Bank’s Jongno branch. Therefore, the information he had access to was more reliable than that of ordinary people.

Of course, Jung Hye-suk and her husband were also far from ordinary.

“From what I’ve heard, they’re building a distribution complex in the south?”

“That’s in the Jamsil area.”

“I heard there’s something in the Yeongdong area too…”

“That’s the business district.”

Jung Hye-suk received her sister’s words with a skeptical expression.

“Ah, the business district. But will any companies actually move from Jongno to Gangnam?”

The Daeun Group, led by Chairman Jung Woo-sun, also had its headquarters in Gangbuk.

“That’s something we’ll have to see.”

“Yes, time will tell. Unnie, aren’t there more important things than that?”

“There are.”

The two ended their brief sparring and got down to business.

“Hye-suk, how is Hyun-woo doing?”

At Jung In-hae’s question, Jung Hye-suk shrugged.

“There’s no progress.”

“No progress?”

“Hyun-woo is so busy that Jin-ye can’t even get a meeting with him, no matter how hard she tries.”

Jung In-hae frowned and asked.

“Busy? Isn’t Hyun-woo just avoiding her?”

“I don’t think so. According to articles in American newspapers, Hyun-woo’s company has had a lot of problems this year.”

Jung Hye-suk was more up-to-date on the situation in the United States than Jung In-hae.

“Hmm, a lot of problems?”

“There were strikes and a hacking incident, I heard.”

“If there’s a strike in the United States, they can’t handle it like we do here, right?”

Jung Hye-suk nodded and replied.

“That’s right. They have to listen to everything, right?”

“So that’s why Hyun-woo was busy.”

“If Father had done business in the United States, he would have lost all his hair by now.”

Jung In-hae said, lifting her spoon.

“Hyun-woo is having a hard time in many ways.”

Jung Hye-suk turned her head and ordered coffee from the waiter. Then, she turned her gaze back to Jung In-hae.

“Doing business in the United States is tough, but you can make a lot of money.”

“I heard Hyun-woo is the richest man in our country, but isn’t that an exaggeration?”

Jung Hye-suk answered her sister’s question.

“He’s one of the richest men in the United States, so it can’t be an exaggeration.”

Jung In-hae raised her eyebrows.

“One of the richest in the United States? Is he that rich?”

“According to an article in an American magazine, Hyun-woo has more than $10 billion in assets.”

Jung In-hae couldn’t close her open mouth.

“$10 billion?”

Even 10 billion won was a huge amount of money.

Moreover, $10 billion in 1985 was an astronomical sum, practically equivalent to the national budget of South Korea.

“Jin-ye says Hyun-woo has more money than the entire Samjung Group.”

“More than the number one Samjung Group in our country…”

“You don’t believe it, do you?”

“How can I believe that that little kid has become so rich?”

Jung Hye-suk sighed briefly.

“Hoo… I sent my children to the United States, but they don’t seem to be doing anything particularly well.”

Han Jin-ye was getting good grades in college, but Jung Hye-suk couldn’t be satisfied with just that.

“Our children are nothing compared to Hyun-woo.”

Both of them wanted to get a piece of Jung Hyun-woo’s success if possible.

However, it seemed difficult because they didn’t see each other often.

“Hyun-woo seems to be in a place we can’t reach anymore.”

“That’s true.”

“Unnie, aren’t Min-seok Oppa [older brother] and Min-young more important than Hyun-woo?”

Jung Min-seok and Jung Min-young were competing for the Daeun Group’s successor position.

“You mean one of them will succeed Father?”

“They said they would decide the successor based on this year’s performance.”

Jung In-hae frowned and said.

“The year is almost over, so I wonder who will succeed Father.”

Jung Hye-suk listened to her sister’s words and straightened her neck.

“Unnie, we live in Korea. I think this side is much more important than Hyun-woo.”

Jung In-hae agreed with her words.

“You’re right. Nothing is as important to us as the Daeun Group.”

They thought it was time to choose between Jung Min-seok and Jung Min-young.

At the same time.

Daeun Group Chairman’s office.

Chairman Jung Woo-sun was talking with Jung Min-seok and Jung Min-young after calling them in.

“There are only two months left in the year.”

At the beginning of the year, he had told the two that he would decide the successor based on this year’s performance.

Jung Min-seok was anxious because he hadn’t made any significant achievements yet.

“I will definitely achieve results before the end of the year.”

Chairman Jung Woo-sun knew that the work in the Middle East was not easy.

“Haste makes waste.”

Look around when you are in a hurry.

It wasn’t that Jung Min-seok didn’t know this saying. But he felt he didn’t have time.

“I’m almost there.”

Chairman Jung Woo-sun turned his gaze to the opposite side. The youngest, Jung Min-young, was sitting opposite Jung Min-seok.

“I heard Min-young has made some achievements this year.”

Unlike Jung Min-seok, Jung Min-young was full of confidence.

“I think I was lucky.”

Thanks to Jung Hyun-woo’s help, Daeun Corporation succeeded in defending against Samjung Corporation’s attack, and it also made a considerable profit from foreign exchange gains by actively collecting yen from the beginning of the year.

“It seems like the two of you are finally on the same footing.”

Same footing.

It was hard not to feel disappointed for Jung Min-young.

‘Hyung [older brother] didn’t achieve any results, and I did. But you’re saying we’re on the same footing?’

Conversely, Jung Min-seok breathed a sigh of relief at his father’s words.

‘You’re saying that the balance hasn’t tipped yet.’

If he succeeded in signing a contract with Qatar, he could expect a reversal.

Chairman Jung Woo-sun raised his right hand and said.

“It will be difficult to widen the gap in the remaining time.”

Does that mean there is no difference now?

Or does it mean that he will decide the successor at this meeting today?

Jung Min-seok and Jung Min-young’s eyes widened at the same time.

“Father?”

Chairman Jung Woo-sun lowered his raised right hand and said to the two.

“At the beginning of the year, I thought Min-seok was a little better. But now I can’t say which one is better.”

I can’t say which one is better.

Does that mean he wants to ask for the opinions of others?

“So I’m going to give you another year.”

A one-year extension.

It was a statement that gave hope to Jung Min-seok and disappointment to Jung Min-young.

“Are you saying you’ll give us another year?”

“You mean next year is important.”

Chairman Jung Woo-sun said in a slow tone.

“There will be the Asian Games next year. Both of you should make good use of this.”

Using the Asian Games as leverage would allow either side to pull far ahead.

‘Whoever makes good use of the Asian Games will be able to widen the gap.’

He intended to decide on a successor through the major event that was the Asian Games.

“Understood. I will do my best until next year.”

Following Jung Min-seok, Jung Min-young also raised his voice.

“Next year, I will show even greater results than this year.”

Chairman Jung Woo-sun nodded and told them that they could leave.

Immediately after his two sons left.

Chief of Staff Hong Won-ik entered.

“Did you call for me?”

Chairman Jung Woo-sun nodded and invited him to sit.

“I told them.”

“You told them about the one-year extension.”

Chief of Staff Hong Won-ik already knew that Chairman Jung Woo-sun had decided to give them another year.

“One year doesn’t make a big difference.”

“Usually, it takes about half a year to settle into their positions.”

“Next year, there will be a resolution one way or another.”

Chief of Staff Hong Won-ik nodded, agreeing with Chairman Jung Woo-sun’s words.

“With the Asian Games, it seems that will be the case.”

Every company in South Korea was anticipating the special boom from the Olympics and Asian Games.

“Is the preparation going well?”

“Of course.”

“Tell each affiliate. Next year, the real competition will unfold.”

Chief of Staff Hong Won-ik bowed his head.

“Understood.”

Chairman Jung Woo-sun’s story didn’t end there.

“And, well.”

“Yes, Chairman.”

“Hyun-woo, how much bigger has he gotten?”

He wasn’t asking how much Jung Hyun-woo’s height had increased.

He was asking how much Jung Hyun-woo’s company, in other words, Victoria Corporation, had grown.

“Hyun-woo listed his company on the New York Stock Exchange this year and achieved great results.”

Chairman Jung Woo-sun had already received a report that Jung Hyun-woo’s company, Victoria Corporation, had been listed on the Nasdaq [a global electronic marketplace for buying and selling securities].

“Chief Hong, didn’t I ask how much he had achieved?”

“I apologize.”

“Are you not aware?”

Chief of Staff Hong Won-ik took a deep breath before answering.

“The amount is so unbelievable that it was difficult to say.”

Chairman Jung Woo-sun asked again.

“So, how much is it?”

“Hyun-woo’s official assets alone are said to be over $20 billion.”

Chairman Jung Woo-sun narrowed his brows at Chief of Staff Hong Won-ik’s answer.

“Are you saying that’s over 15 trillion in our currency [Korean Won]?”

“It’s exactly 16.8 trillion won.”

16.8 trillion won.

It was enough money to buy the Daewoon Group ten times over.

‘He has become a star in the sky.’

Chairman Jung Woo-sun closed his eyes.

“There’s nothing I can do to help now.”

“Chairman.”

“Chief Hong, isn’t that so?”

“That’s not true. You are still the Chairman, aren’t you?”

Chairman Jung Woo-sun opened his eyes and shook his head.

“No. The name Daewoon doesn’t suit Hyun-woo anymore.”

Chief of Staff Hong Won-ik’s voice tightened slightly.

“Chairman, Hyun-woo is a Korean. No matter how much money he makes in America, he will eventually return to Korea.”

When Jung Hyun-woo returns to Korea, the name Daewoon will be a source of strength for him.

He argued this way.

But Chairman Jung Woo-sun didn’t think so.

“Chief Hong, isn’t the level of play different? When Hyun-woo comes next time, it won’t be you who greets him, but the Blue House [the executive office and official residence of the South Korean president].”

Now that Jung Hyun-woo’s wealth and status have come to light, he was bound to attract everyone’s attention.

“Chairman.”

Chairman Jung Woo-sun forced a smile and said.

“Hahaha. My grandson has succeeded greatly, shouldn’t I laugh? Chief Hong, laugh. This is something to laugh about.”

Chief of Staff Hong Won-ik listened to Chairman Jung Woo-sun’s laughter and thought.

‘It sounds like a hollow laugh.’

He had met Jung Hyun-woo in America. But he didn’t get the impression that Jung Hyun-woo was a millionaire with astronomical wealth, like the one in the magazines.

The Jung Hyun-woo he met was nothing more or less than a college student engrossed in a project.

* * *

Sarah said that Jung Hyun-woo was always like an explorer searching for something new.

This day was no different.

Jung Hyun-woo flew to New York for a new project and met John Peer at a small restaurant not far from Wall Street.

“Mr. Peer.”

Jung Hyun-woo extended his right hand, and John Peer shook it, saying.

“Please, call me John.”

Jung Hyun-woo shrugged and replied.

“I’ll call you that if you call me Charlie first.”

The two had grown rapidly closer while fighting alongside Terra.

“Then I’ll call you Charlie.”

“John. I like this better, it feels more comfortable.”

Jung Hyun-woo got a similar feeling from John Peer as he did from Robert. However, the two were not exactly the same. If Robert was like a developer from Silicon Valley, John Peer was a perfect Wall Street financier.

“Thanks to Charlie, I was able to leave work an hour early.”

Jung Hyun-woo knew this one statement was a joke.

‘JP Morgan executives can adjust their working hours as they please.’

He smiled gently and said.

“I couldn’t help it because this was the only time available for a reservation.”

John Peer was slightly surprised to hear his words.

“Are you saying that Charlie reserved this restaurant?”

“I heard the soup is good.”

The restaurant Jung Hyun-woo had reserved was one of Aria Walton’s favorite restaurants.

He trusted Aria Walton’s judgment, so he could reserve a restaurant she recommended without hesitation.

On the other hand, John Peer couldn’t help but tilt his head at the size, decor, and location of the restaurant.

‘It doesn’t look like a great restaurant.’

The restaurants he usually met clients at were usually high-end restaurants with Michelin stars or restaurants affiliated with 5-star hotels.

“You’re saying the soup is good?”

“John, do you not like soup?”

“No. I like it too.”

As soon as Jung Hyun-woo finished ordering, the soup and bread came out.

“It smells good.”

John Peer watched him smelling the soup and thought.

‘He doesn’t feel like someone with $20 billion in assets at all.’

It wasn’t just Jung Hyun-woo who didn’t look impressive. John Peer was no different from the financiers commonly seen on the streets of New York.

If someone were to look at the two from afar, they would surely think they were an uncle and nephew visiting downtown New York for a Friday night dinner together.

“The bread is baked well too.”

As John Peer said, the bread served at the restaurant was baked crispy on the outside and moist on the inside.

“Excellent.”

“Michelin missed a good restaurant.”

The two began their meal with bread and soup.

Around the time the appetizers appeared.

John Peer carefully asked.

“Charlie, what brings you here to see me today?”

Jung Hyun-woo stopped his knife and replied.

“I want to do a business together.”

John Peer’s eyes widened at Jung Hyun-woo’s words.

“You want to do business with me?”

He hadn’t yet fully grasped the meaning of what Jung Hyun-woo had said.

‘It seems he wants to propose something else to our company.’

John Peer thought that Jung Hyun-woo wanted to propose a new service or system to JP Morgan.

But the reason Jung Hyun-woo had called him out was because of Victoria Fund.

“Have you ever heard of Victoria Fund?”

John Peer nodded and replied.

“Isn’t that the company Ms. Hilton mentioned during the earnings announcement?”

Jung Hyun-woo looked at his face and asked.

“John, would you be willing to manage Victoria Fund with me?”

It was an unexpected proposal.

John Peer couldn’t answer right away.

‘What is this…’

A proposal to manage a new fund to the head of JP Morgan Fund.

If it were a proposal from someone other than Jung Hyun-woo, he would have rejected it immediately.

But the other party was a billionaire with tens of billions of dollars in assets.