The Conglomerate Family Became A Villain [EN]: Chapter 221

221. Miracle on the Han River (5)

Daewoon Construction Headquarters.

Employees with pale faces were moving busily.

“Still no contact?”

“No response from the local site.”

“How long do we have to wait?”

“There’s nothing we can do here.”

No less frustrated than the employees were the Daewoon Construction executives.

Gathered in the Daewoon Construction president’s office, they wore grim expressions.

“I don’t understand, why aren’t the materials coming in when we’re offering to pay?”

Executive Director Jung Ki-seok replied with a dark face.

“In Malaysia, they’re insisting they won’t supply any more materials unless we pay all the overdue amounts at once.”

Thump.

The one who slammed the table was Daewoon Construction President Jung Min-seok.

“Doesn’t the contract state payment is due after three months!”

Daewoon Construction and the local Malaysian company had agreed to postpone payment for three months, similar to a promissory note transaction [a short-term debt instrument where one party promises to pay another a specific amount on a specific date].

“Well, it’s because we delayed the initial payments…….”

Jung Min-seok cut off Executive Director Jung Ki-seok, raising his voice.

“Didn’t we pay!”

Daewoon Construction had indeed made payments. However, they hadn’t paid all the overdue amounts, only enough to put out the immediate fire.

Click.

At that moment, Department Head Lee Hu-yeong opened the conference room door and entered.

“B, big trouble.”

The fact that the department head entered an executive meeting without knocking already indicated a significant issue.

“What is it?”

Jung Min-seok asked irritably, and Department Head Lee Hu-yeong replied.

“They’re saying they’re withdrawing equipment from the Indonesian site as well.”

Jung Min-seok’s eyebrows shot up.

“What!”

His eyes seemed to spark with fire.

“The local technicians are withdrawing, saying they haven’t received payment for the heavy equipment rentals.”

Jung Min-seok raised his voice at him.

“Didn’t we pay them?”

“We said we’d pay immediately, but…….”

The heavy equipment rental fees had been delayed due to the issues with the construction materials payments.

Jung Hyeon-woo and Jung Min-yeong had dug into this area as well.

“How did you handle the work!”

Jung Min-seok roared, turning Lee Hu-yeong pale.

“P, President.”

“Connect me to the local team!”

He tried to talk to the local team, but there was no progress. They only repeated that the heavy equipment was being withdrawn one by one.

“I’ll have to go.”

The one who stood up and bowed his head was Executive Director Park Ki-seok. He, along with Executive Director Jung Ki-seok, was known as one of the two pillars of Daewoon Construction.

“You?”

“I don’t think the local team alone can solve this problem.”

Executive Director Park Ki-seok believed there needed to be a response from headquarters.

‘This is a festering wound that has burst open.’

Listening to him, Jung Min-seok lowered his voice and said.

“I’ll go myself.”

He meant that he, as the president of Daewoon Construction, would go and handle the local issues himself.

“President…….”

“The problem won’t be solved unless I go.”

He was saying that the only way to regain lost trust was for the top executive to take action.

“That won’t do.”

It was Executive Director Jung Ki-seok who stopped him from going to Southeast Asia.

Jung Min-seok naturally frowned.

“Why not?”

Executive Director Jung Ki-seok replied.

“There’s a meeting of construction company presidents hosted by the Minister of Construction in two days.”

He believed it was essential to attend this meeting.

“Can’t you go in my place?”

“President, the new Minister of Construction was a powerful figure in the military. If I go, he will definitely take it badly.”

The Blue House [the presidential office of South Korea] had appointed a powerful Minister of Construction to successfully prepare for the 1988 Seoul Olympics.

“No way.”

The Minister of Construction would be replaced in a few years, but if this matter grew, it would be the end of Jung Min-seok’s position as chairman of the Daewoon Group.

“President.”

“You go in my place.”

Executive Director Jung Ki-seok’s face turned pale.

“P, President, if we incur the Minister of Construction’s displeasure, our domestic business is finished.”

How would it look if Daewoon Construction sent an executive director or vice president to a meeting attended by the presidents of Samjung Construction and Daehyeon Construction?

It was safe to say that the new Minister of Construction would not view Daewoon Construction favorably.

‘If we’re not careful, Daewoon Construction could follow in the footsteps of the Kukje Group [a South Korean conglomerate that was dismantled in the 1980s].’

The Kukje Group had been dismantled after a few actions that opposed the regime.

Voices opposing Jung Min-seok’s trip to Southeast Asia were heard from all directions.

“President, please reconsider.”

“It would be better to entrust this Southeast Asia trip to Executive Director Jung.”

“Daewoon Construction’s roots are in Korea. It would be better to take care of domestic business first.”

Jung Min-seok narrowed his brow.

“Isn’t that why we always fail to win overseas orders!”

He believed that the Daewoon Construction executives’ lax attitude had led to the failure to win orders in the Middle East.

‘These guys are different from me. They still get paid even if Daewoon Construction fails to win orders in the Middle East.’

However, Jung Min-seok was different. If the overseas business collapsed, he would inevitably lose the succession battle to his younger brother, Jung Min-yeong.

“President.”

“Just trust Executive Director Jung one more time.”

The Daewoon Construction executives opposed Jung Min-seok’s trip to Southeast Asia again and again.

However, Jung Min-seok’s resolve was firm. He looked at everyone and said.

“I will be leaving today. Have Vice President Choi attend the Minister of Construction’s meeting.”

Vice President Choi In-seon bowed his head at Jung Min-seok’s words.

“Understood.”

He tended not to reveal himself, so he accepted Jung Min-seok’s decision this time as well.

“P, President!”

The executives, including Executive Director Jung Ki-seok, couldn’t help but be taken aback by the two men’s conversation.

“It would be better to send Vice President Choi to Indonesia…….”

Jung Min-seok cut off the executives’ words. Then, he said in a firm voice.

“No matter who opposes it, I am going. Everyone, be aware of that.”

He took a deep breath and called his secretary.

“I will be visiting Malaysia and Indonesia in order. Book a flight for me on today’s flight.”

The secretary had no choice but to bow his head at his order.

“I will prepare for the business trip immediately.”

Jung Min-seok’s trip to Southeast Asia was decided in this way.

* * *

Jung Hyeon-woo and Jung Min-yeong met in a luxurious villa overlooking the Han River.

This villa was owned by the National Intelligence Service, but the land registry listed it as owned by a Korean-American.

“There’s a place like this in Seoul.”

Jung Min-yeong couldn’t help but admire the view of the villa.

“I’m seeing it for the first time today as well.”

Jung Hyeon-woo had seen mansions like this several times in dramas in the past.

‘This is the first time I’m actually visiting one.’

In South Korea in the 1980s, the best places could only be obtained with power, not money.

“I heard your brother is leaving today.”

Jung Min-yeong had come to see Jung Hyeon-woo because of Daewoon Construction and President Jung Min-seok.

“He must have thought he could solve it by going in person.”

Jung Min-yeong narrowed his brow slightly and asked.

“What happens if he actually solves it?”

Jung Hyeon-woo shook his head and replied.

“That won’t happen.”

“Aren’t you being too confident?”

“I’ve also taken measures with the banks.”

Jung Min-yeong’s eyes widened at Jung Hyeon-woo’s reply.

“You’ve taken measures with the banks too?”

“I have many close contacts on Wall Street.”

Jung Hyeon-woo had used Michael Carter of Citi Securities. He had used Michael Carter’s connections to request cooperation from banks in Singapore.

Jung Min-yeong sighed briefly when Wall Street was mentioned.

“Hoo……. You really have a wide network.”

He believed that no one could beat Jung Hyeon-woo when it came to things that could be done with money.

“Your uncle will have to resolve things starting with Singapore.”

Singaporean banks were the leaders of the Southeast Asian financial market. Those doing business in Southeast Asia, regardless of their field, could not escape their influence.

The same was true for Daewoon Construction. In addition to the two high-rise buildings currently under construction, Singaporean banks’ funds were invested in several other projects.

“I’m glad you’re on my side.”

Jung Hyeon-woo said in a dry voice, watching him feel relieved.

“Leave Daewoon Construction to me now, and you should focus on Daewoon Corporation.”

Jung Min-yeong’s eyes widened as he listened to him.

“Daewoon Corporation?”

He worried that something might have happened to Daewoon Corporation.

Jung Hyeon-woo asked him back.

“Is Daewoon Corporation really okay as it is?”

Jung Min-yeong tilted his head at his question.

“Okay as it is?”

“I know this year’s performance isn’t bad. But isn’t that mostly thanks to the Three Lows [low oil prices, low interest rates, and a weak dollar] and the strong yen?”

Daewoon Corporation was achieving record-high performance thanks to the Three Lows and the strong yen.

Jung Min-yeong thought this was enough. But Jung Hyeon-woo didn’t think so.

“Will the performance due to the Three Lows be counted against me?”

Jung Hyeon-woo turned his gaze out the window and asked.

“What kind of person does your grandfather want as the CEO of Daewoon Construction?”

“The CEO of Daewoon Construction that my father wants?”

“Does he simply want someone who makes a lot of money?”

As Jung Hyeon-woo’s questions continued, Jung Min-yeong groaned lowly.

“Uhhhmm…….”

Jung Hyeon-woo’s gaze remained fixed on the Han River.

“Uncle, it wasn’t the ability to make money that created the Miracle on the Han River. It was the progressive spirit of challenge that moved towards the future, the ambition to dream of the future without settling for the present.”

Move forward.

That’s what he was saying.

Listening to his words, Jung Min-seok sighed deeply inside.

‘Hoo……. I’m being lectured by a nephew who’s twenty years younger than me.’

That would normally be impossible in a relationship between an uncle and a nephew. But Jung Hyeon-woo was the richest man in Korea and one of the richest in the United States.

And all of his wealth had been created by his own hands. No one could deny Jung Hyeon-woo’s ability and success.

“You’re saying that I can’t surpass my brother with just this.”

Jung Hyeon-woo lowered his voice.

“I met your grandfather yesterday.”

Jung Min-yeong paused at the mention of meeting Chairman Jung Woo-seon.

“You met my father?”

Jung Hyeon-woo nodded slowly at his question.

“Your grandfather said that you are still lacking.”

You cannot become the chairman of the Daewoon Group unless you fill the lacking parts.

“Umm.”

Jung Hyeon-woo summarized and told him what had happened yesterday to him, who was groaning again.

Jung Min-yeong nodded as he listened to his story.

“I understand. I’ll go back and think about what I can do.”

Jung Hyeon-woo changed his voice to a softer tone and said.

“Please don’t take it badly. I’m on your side.”

Jung Min-yeong nodded and accepted his words.

“I know. I’m not that narrow-minded.”

Instead of getting angry, he tried to look back on himself coolly.

‘To become the chairman of the Daewoon Group, it’s not enough just to bring down my brother.’

The ability to rise above my brother’s failure.

If he didn’t show that, his father might not choose him.

It wasn’t common in the 1980s, but Chairman Jung Woo-seon also had the option of a professional manager.

* * *

The news that Jung Min-seok, who was about to leave for the airport, received was shocking.

“What? The loan extension is not possible?”

The news from the Singapore branch of Daewoon Construction was more damaging than the news from Malaysia and Indonesia.

‘If Singapore doesn’t extend the loan, construction will stop, and even the Daewoon Group will be shaken.’

In the worst case, even if he asked for help from the headquarters, he might not be able to stop it.

“It seems the president needs to come.”

Unlike Malaysia and Indonesia, the Singapore branch wanted Jung Min-seok to visit.

“Is it a problem that I can solve if I go?”

The branch manager replied in a barely audible voice.

“They say they will only meet if the president comes.”

The branch manager meant that they wouldn’t even meet with him.

‘Damn it!’

Jung Min-seok couldn’t help but click his tongue inside.

“Okay. I’ll leave right away, so wait for me at the airport.”

“Understood.”

As soon as Jung Min-seok hung up, he called his secretary and changed his destination to Singapore.

However, all Singapore airline tickets were sold out.

“President, what should we do?”

Jung Min-seok narrowed his brow at his secretary’s question.

“Go to the airport.”

“Yes?”

“A cancellation ticket will come out. I have to grab it.”

Business or first class didn’t matter. He had to fly to Singapore as soon as possible.

“Then me and the escorts…….”

“Come on tomorrow’s flight. I’ll go first.”

Jung Min-seok thought that he at least had to go to Singapore first.

‘If Malaysia and Indonesia are TNT [Trinitrotoluene, a powerful explosive], Singapore is a hydrogen bomb.’

He knew what was important.

30 minutes later.

Jung Hyeon-woo received a call from Choi Gyeong-min.

“President Jung Min-seok has just left for the airport.”

Choi Gyeong-min had called him as soon as he received a call from a colleague working in the secretary’s office.

“He definitely bought the tickets, right?”

Choi Gyeong-min answered his question.

“Yes, I bought all the seats.”

Jung Hyeon-woo intended to prevent Jung Min-seok from going to Singapore by selling out the seats.

“Even if there are no tickets, he will wait and go, so he must receive the tickets even if he doesn’t board.”

“I’ll leave for the airport right now.”

“Do that.”

Jung Min-yeong clicked his tongue inside as he listened to the two men’s conversation.

‘To be so thorough.’

He wouldn’t have thought of buying up airline tickets.

Click.

As soon as Jung Hyeon-woo hung up, he asked.

“Hyeon-woo. Why are you stopping my brother from going to Singapore?”

Jung Hyeon-woo answered his question.

“I haven’t completely blocked Singapore.”

“Umm?”

“I just asked them to put a little pressure on.”

“Then is it a problem that will be solved if my brother goes?”

Jung Hyeon-woo nodded and replied.

“That’s probably what will happen.”

Michael Carter of Citi Securities had requested that Singapore put a little pressure on, but he had not forced them to recover the loan.

If Jung Min-seok, the president of Daewoon Construction, who was the loan party, went and explained the situation, Singapore would have no choice but to listen to him.

“Then this side won’t be of much help.”

“If you delay time in Singapore, the situation in Malaysia and Indonesia will worsen.”

Jung Hyeon-woo’s goal was to bring down Jung Min-seok, not to destroy Daewoon Construction.

“Umm.”

He could shake Daewoon Construction, but Jung Min-yeong wasn’t sure if he could bring down Jung Min-seok with this.

“You’re doubting my words.”

Jung Min-yeong said honestly.

“I’m not sure if I can bring down my brother with this.”

Jung Hyeon-woo received his words in a cold voice.

“What if someone tells the headquarters about Daewoon Construction’s difficulties?”

Jung Min-yeong got goosebumps at his question.

“That’s!”

If Chairman Jung Woo-seon found out, any measures Jung Min-seok took would be in vain.

“The story will flow in through someone your grandfather can trust.”

Jung Min-yeong asked him.

“Is it Chief Hong?”

Jung Hyeon-woo smiled.

“Chief Hong is on our side. Your grandfather is not an easy person. He will know right away that we planned it.”

Jung Min-yeong couldn’t help but look back at Jung Hyeon-woo.

‘Hyeon-woo is not only talented in business.’

He couldn’t handle Jung Hyeon-woo’s schemes at all.

‘What if Hyeon-woo wants the Daewoon Group?’

Even if he took the position of chairman of the Daewoon Group, there was a high possibility that the position of chairman would not return to his children.

‘Still, I have to win this fight first.’

Jung Min-yeong was trustworthy and fearful of Jung Hyeon-woo.