The Genius Grandson Of The Cash King Becomes A Tycoon [EN]: Chapter 86

#086

10. All subsidiaries of Ilsong Holdings were rebranded as subsidiaries of Shinhwa Holdings.

9. All affiliates located at the Ilsong Holdings headquarters were relocated.

8. Holes were drilled throughout the empty building, and dynamite was packed inside.

7. Standard demolition takes a year, but this method will be completed within a month.

6. The police controlled pedestrian traffic.

5. Spectators gathered.

4. Hyun Jeong-ok, Yoon Jeong-hoon, and others who harbored resentment toward Ilsong watched the scene, commemorating the end of the predatory company.

3. The Ilsong Holdings building and the adjacent Ilsong properties were set to be detonated simultaneously.

2. Yoon Jeong-hoon stared at the detonator in his hand.

1. Pressing the button would cause Ilsong Holdings to disappear in an instant with a ‘bang’.

As the countdown concluded, everyone focused on Jeong-hoon.

Their gazes conveyed a silent plea to end Ilsong’s reign.

He pressed the button.

-Boom, boom, boom

A massive cloud of dust billowed into the sky.

The predatory conglomerate that had dominated for half a century vanished into dust.

An hour later, the dust settled, revealing an empty space.

Jeong-hoon stood in the empty lot where the monster had disappeared.

‘I will build Shinhwa Holdings here. I will gather all the affiliates here.

And I will also create a comprehensive convention center to propel us to the forefront of Seoul.’

Jeong-hoon clenched his fist.

Looking at the vast land, he planted the seeds of his dreams.

He called Lee Soo-hong, the president of Shinhwa Construction.

“President Lee Soo-hong, we need to build the headquarters of Shinhwa Group here.”

“You’ve made an excellent decision. It’s a truly prime location. You seem to have incredible luck, young master. Acquiring over 10,000 *pyeong* [approximately 8.26 acres] of land in Jongno is nearly impossible. It’s only achievable because it’s you, young master.”

Ilsong never even considered how to leverage this valuable location.

They were solely focused on exploitation and lacked any interest in genuine growth.

“Please ensure that a comprehensive convention center and all affiliates of Shinhwa Group can be accommodated here. Commission a world-renowned designer to create a landmark for Seoul.”

“Yes, Chairman.”

The title of Chairman came naturally from Lee Soo-hong, the president of Shinhwa Construction.

“First, we will hold the founding anniversary ceremony here, so please prepare accordingly.”

“Understood. I will prepare the best possible event.”

“Yes, it’s ‘Shinhwa,’ which will become the leading group in Korea. Make it so splendid that others won’t even dare to imitate it.”

“Yes, Chairman.”

Jeong-hoon was planning to declare the birth of the Shinhwa Empire in the heart of Seoul, Korea.

Jeong-hoon ordered a comprehensive audit of the Ilsong Group.

He mobilized all the employees from the audit departments of Shinhwa Securities, Heavy Industries, and Shipbuilding & Marine to conduct a thorough audit of Ilsong Group’s affiliates.

As a result, approximately 30% of Ilsong Group’s corrupt individuals were dismissed and faced legal action.

He reviewed the contracts and normalized all subcontracting agreements.

The employees conducting the audit were shocked by the extent of the corruption.

It seemed more efficient to simply liquidate the company.

It was rotten to the core.

But Jeong-hoon knew that with the right direction and diligent effort, they could achieve their goals.

Ilsong’s companies with overlapping areas were merged.

This was a strategic decision to achieve economies of scale and improve management efficiency.

And he made substantial investments in Ilsong Hi-Tech and Electronics to prepare for the 21st century.

***

People who had been worried about the merger were now in shock.

The asset value of Ilsong was reassessed.

It jumped to more than 10 times its original value.

Most of the insolvency could be resolved with that.

The main problem was the lack of profitable businesses.

First of all, the profitability problem was solved by absorbing and merging with Shinhwa Group. Also,

Optimization was achieved through personnel reallocation.

The direction of new industries that did not exist in the existing Shinhwa Group, such as distribution, electronics, and semiconductors, was established.

For distribution, he was planning to make large-scale investments centered on online platforms.

To acquire the explosively growing internet market.

The electronics division would acquire the automobile business and then merge with it.

Finally, they were planning to make large-scale investments in non-memory semiconductors.

Then, through a merger with a non-memory company without an owner, it could grow into the world’s largest semiconductor company.

And for this, he was thinking of attracting the best talent in the world.

It’s no longer a money problem.

They were already generating huge profits in securities and heavy industries.

Legend Company in the United States was also recording impressive returns.

So, investment funds were pouring in.

There was plenty of capital.

It was necessary to acquire promising companies and preempt lucrative businesses.

Jeong-hoon informed his grandmother about the founding anniversary ceremony.

“Grandma, we’re going to have the founding anniversary ceremony next week.”

“Where are you having it?”

“At the site where Ilsong Group used to be.”

“There’s nothing there, is there?”

“I’m setting up a stage and inviting celebrities now. It cost a bit of money, though.”

“You rascal, don’t be stingy. First impressions are important. Make it as grand as you can. I wish I could rent the Jamsil Olympic Stadium.”

Grandma made a regretful expression.

‘What, Jamsil Olympic Stadium?’

Jeong-hoon was surprised at his grandmother’s words.

He had considered it too.

But the reason he chose the site where Ilsong Group used to be was because of the symbolism of Shinhwa subduing the monster-like Ilsong.

He was planning to hold the event there and the after-party at a nearby luxury hotel banquet hall.

***

A grand founding anniversary ceremony was held a week later.

Hyun Jeong-ok, Jeong-hoon, and honored guests participated in a tape-cutting ceremony on the stage.

As the tape was cut, a huge ball burst open, and a placard descended vertically.

The name of the new entity that would dominate the land was written on it.

‘Shinhwa Empire Holdings.’

He added Empire to the plain Shinhwa Holdings to reinforce the image of a conqueror.

‘I will eat everything.’

Jeong-hoon stroked his hungry stomach and burned with determination.

Congratulatory messages from famous actors followed.

“Congratulations. We wish Shinhwa Empire Holdings unlimited success.”

Congratulatory performances by popular singers followed, and loud music filled the air.

Thanks to the celebrities, people flocked like clouds.

Jeong-hoon was sitting in the VIP seat, watching the performance, and enjoying himself.

Someone tapped Jeong-hoon on the shoulder.

“Chairman Yoon! Am I a bit late? Congratulations. You’re truly amazing.”

It was Congressman Jo Young-jin.

“No, you must be very busy these days, thank you for attending.”

“I was going to come early, but someone asked me to accompany them.”

“Yes? Who are you talking about?”

“He asked me to introduce you to him.”

Congressman Jo Young-jin pointed to the man standing behind him.

Jeong-hoon was surprised to see him, but he tried to maintain his composure.

His grandmother’s pupils were shaking slightly.

“Nice to meet you, Chairman Yoon Jeong-hoon.”

“Nice to meet you, President Gu Han-soo!”

The reason why he held the founding anniversary ceremony here instead of the Jamsil Olympic Stadium was for this very moment.

It wouldn’t matter if he didn’t attend.

He subtly extended an invitation through Congressman Jo Young-jin.

“Congratulations. If you have time, would you like to have a cigarette for a moment?”

‘A cigarette… What does he want to discuss?’

Jeong-hoon studied Gu Han-soo’s face.

His expression suggested he had much to say.

“Yes, Mr. President.”

Bodyguards escorted them into a nearby building.

Inside, a sofa and table were already prepared.

Gu Han-soo lit a cigarette.

“Congratulations on your re-election, Mr. President!”

“Thank you, Chairman Yoon.”

Both he and Jeong-hoon were polite to each other.

“I don’t have much time, so I’ll get straight to the point.”

“What do you think is the future we should strive towards, in the opinion of young Chairman Yoon?”

‘The future we should move towards? What does that mean?’

He wouldn’t ask him about politics and diplomacy. He decided to answer only in terms of economics.

“We have to focus on entertainment.”

President Gu Han-soo looked bewildered.

“Software will dominate the future. The former president laid the information and communication highway by installing high-speed internet. We have to utilize it. To utilize it, we have to focus on entertainment.”

“Entertainment……”

Gu Han-soo looked at Jeong-hoon and smiled slightly.

“Are you talking about cultural content industries such as games and broadcasting?”

Jeong-hoon nodded.

“Yes, along with that, we must also strive to develop wireless information communication technology. The country that dominates wireless information communication will dominate the 21st century.”

Jeong-hoon recalled the conflict between China and the United States in his previous life.

The two hegemonic countries clashed fiercely over the dominance of 5G communication.

“We were also preparing for the software side, but wireless information communication is unexpected.”

“Technology will develop faster than you think, Mr. President. We must focus national capabilities on these two things: the software industry and wireless information communication.”

“That’s a truly insightful opinion. I will focus on fostering that field in the future. Please help us a lot.”

Gu Han-soo finished speaking and looked at Jeong-hoon.

‘A young man in his early 20s possesses such profound insight…….’

He considered making him his strategist, but his ambitions seemed too vast.

He wanted to help him soar in the future.

President Gu Han-soo, who had finished smoking, got up from his seat.

“It was a good conversation. I won’t forget the two things Chairman Yoon said.”

“No, it’s just a presumptuous personal opinion.”

Jeong-hoon bowed deeply.

“Haha, you’re so humble. If you encounter any difficulties in the future, please tell me. I know you’re not the kind of person who makes unfair demands. I will actively help if there is anything I can do to help. It seems like that’s what develops the country.”

“Thank you. I’ll contact you if I need anything.”

President Gu Han-soo returned with his entourage.

Jeong-hoon went to his grandmother.

The corners of his grandmother’s mouth were turned upwards.

“What brings you here?”

Hyun Jeong-ok asked.

“He asked me what I was going to do for the next 5 years.”

“What? He asked you that?”

“I’m doing well these days, Grandma.”

“Hmm, that’s true. Time has passed so quickly. In the old days, they would have come to me and greeted me. Hmm.”

Thinking about it, that wasn’t wrong.

There was a time when politicians, large company CEOs, and *chaebol* [South Korean conglomerate] chairmen came to Empress Myeongdong, Hyun Jeong-ok, and bowed their heads.

But Grandma didn’t increase the scale.

Chaebol chairmen increased the scale and rapidly widened the gap with Grandma.

“They will be greeting Grandma again soon. Don’t be too disappointed.”

“Disappointed? My era is gone. Now is your era. Soar high.”

Grandma smiled brightly at Jeong-hoon.

“Then I’m going to go drink *makgeolli* [Korean rice wine] with the old men. That crazy Park is so infatuated with the woman at the makgeolli house that he’s making a fuss about going there. What a fuss!”

“Yes? Grandma, you should go to the buffet.”

“Jeong-hoon, you’re the main character today.”

Grandma said with a smile.

“Yes. But please wait a moment. Da-hye said she wanted to say hello.”

“Da-hye……”

Grandma’s expression suddenly hardened.

Jeong-hoon was puzzled by the sight.

‘Why does her expression turn bad whenever Da-hye is mentioned?’

“Yes, just a moment.”

“No. Chairman Park is urging me to come quickly, so I have to go. Let’s eat next time!”

Grandma hurriedly left her seat.

Some time later, Da-hye called Jeong-hoon.

“Jeong-hoon!”

She waved her hand from afar and ran to hug him.

Her scent lingered at the tip of his nose.

Jeong-hoon also hugged her tightly. In that moment together, all the tension and stress that had built up until now disappeared like snow melting.

Jeong-hoon felt peace in Da-hye’s arms.

“Let’s go, I’ll buy you something delicious.”

Jeong-hoon took her to the banquet hall.

Everyone welcomed Da-hye.

She aroused everyone’s admiration with her elegant figure.

Park Da-hye was such an existence.

***

In April 2003, Apple released the third version of its mp3 player.

It had a simple design with a white background and was quite popular.

But it wasn’t a sensation yet.

The stock price was still not exceeding $1.

Jeong-hoon asked Im Cheol-soo to bring 10 mp3 players from the United States.

The only people who would appreciate this kind of device were the people at Legend Company.

“Gather around for a moment. I have something to give you.”

“Yes? What is it?”

Cheon Jin-hyeok asked with a curious expression.

Instead of answering, Jeong-hoon handed them boxes of the same shape.

These people, who had strong tendencies toward niche interests, widened their eyes and started jumping for joy.

Lee Byeong-seok and Cha Young-mi hugged each other and rejoiced.

“Wow, I was going to buy this as a birthday present this year.”

“Why does the president, no, the chairman, bring this? It doesn’t suit you.”

Cha Young-mi teased.

Jeong-hoon didn’t back down.

“I didn’t think that Young-mi, who is like Yeong-sim [a cartoon character known for being unfashionable], would like this.”

A brief flash of annoyance crossed her eyes.

Lee Byeong-seok also expressed his gratitude.

“Wow, thank you, Chairman. I’ll use it really well.”

Jeong-hoon looked at them.

“How is this product? Is it good?”

“Of course. It’s the best. The simple design……. Some people say that they stopped designing halfway, but this is actually quite difficult. Simple but beautiful.”

“Hmm, that’s not something that Young-mi, who is like Yeong-sim, would say.”

At Jeong-hoon’s words, Cha Young-mi’s eyebrows twitched like those of the chairmen of large corporations.

Jeong-hoon avoided Cha Young-mi’s sharp gaze and asked a question.

“Then how is this company?”

“What do you mean?”

“Um……. I was wondering if it’s a worthwhile company. I was thinking of buying it if it’s good.”

“Pfft, Chairman, you’re making a lot of jokes today.”

“I don’t think Shinhwa Group can buy Apple, no matter how great it is.”

“Why?”

“That’s…….”

Lee Byeong-seok stammered.

It’s because they have limited their own thinking.

Jeong-hoon was the same.

He only thought about buying Apple stock. He didn’t consider buying the company.

Last year, Apple’s market capitalization was about 5 trillion won [approximately 3.7 billion USD].

It’s possible if he sets his mind to it.

“What do you guys think? Would it be a good idea to buy it?”

Jeong-hoon asked with a serious expression.

“Hoo, no, really, why are you acting like this today? Stop making jokes that aren’t even funny.”

Cha Young-mi, who had caught on to something, said sarcastically.

“Is it that unbelievable?”

“I can’t believe it unless Jobs shows up.”

At that moment, the phone rang.

It was Im Cheol-soo.

“Jeong-hoon! I’ll be arriving soon. I’m going alone without an interpreter. I didn’t prepare one on purpose because I thought you’d be fine with the conversation.”

“Yes, you memorized the office location properly, right? I’ll contact you when the results come out, Uncle.”

“Okay!”

As soon as he hung up the phone, the curious Cheon Jin-hyeok asked.

“Who’s coming?”

“Jobs.”

“I think Sister Young-mi told you to laugh at times like this.”

Cheon Jin-hyeok laughed like a Joker.

And the door opened.

Cha Young-mi’s eyes widened.

Lee Byeong-seok dropped the box in his hand.

Cheon Jin-hyeok had a completely blank expression.

He didn’t know what expression to make in this situation.

“Hi Jobs.”

Jeong-hoon held out his hand.

Apple’s Steve Jobs visited Legend Company’s Korean branch.

The Genius Grandson of the Cash King, Becoming a Chaebol.