Max-Level Son of a Chaebol Family - Chapter 69
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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69. Coveted Talent
When Taeseong Chemical President and the executives greeted Father, people from other affiliated companies tactfully left their seats.
‘Taeseong Chemical President Sim Won-cheol. He’s said to be Taeseong’s greatest contributor who significantly grew every affiliated company he managed from Taeseong Construction to Taeseong Securities, and showed life-risking loyalty.’
According to the Taeseong Group report, Sim Won-cheol acquired Taeseong Construction at a bargain price after Taeseong Construction President Cha Yun-seong completely ruined it following the affiliate separation.
He raised Taeseong Construction, which was undergoing rehabilitation procedures, to become the Republic of Korea’s top construction company in 10 years.
Recognizing his abilities, Cha Ki-joon, who was Taeseong Group’s next heir, entrusted Taeseong Securities to Sim Won-cheol.
Sim Won-cheol later established a financial holding company by combining Taeseong Securities, Taeseong Life, and Taeseong Card, laying the foundation for third-generation management succession.
‘I also happen to need trustworthy, capable talent.’
I’m also looking for a figurehead president for my investment company.
“I heard from the Chairman. You’ve decided to hand over Taeseong Chemical to Wooguang?”
The Taeseong Chemical President said.
“These are people who have long been waiting to become Young Master Seong-jun’s strength. They are capable talents. Please take them under your wing, Young Master Seong-jun.”
The Taeseong Chemical President bowed 90 degrees.
The Taeseong Chemical executives also bowed and said.
“We have absolutely no intention of seeking personal advancement by going to Wooguang.”
“We don’t even dare hope for executive positions at Taeseong Construction.”
“Please give us the opportunity to work for the Young Master.”
Father also straightened his posture and bowed his head.
“I was actually about to ask for this favor. As you know, recently all the Taeseong Construction executives left at once, leaving me alone and struggling helplessly.”
“Young Master.”
“I’ve secured several major national projects. Please help me. I can’t handle all that work alone. I humbly request this of you.”
The faces of the Taeseong Chemical executives brightened at Father’s polite request.
The Taeseong Chemical President nodded.
“If the Young Master will take you in, we couldn’t ask for more. You all go inside first.”
“Yes, understood.”
The Taeseong Chemical executives also tactfully withdrew.
Only after they disappeared inside the mansion’s main gate did the Taeseong Chemical President let out a long, deep sigh.
“They are loyal and capable individuals. I ask for your kind consideration. And please accept this.”
“What is this?”
“Nominee stocks.”
The Taeseong Chemical President held out a document envelope to Father.
“The Chairman entrusted them to me, and I have been managing them all this time. I think it’s time to return them to their rightful owner.”
“President Sim?”
“This is the Taeseong Chemical slush fund ledger. This contains Taeseong stocks that were held under Taeseong Chemical’s name. About 1% each from various affiliated companies. Small amounts.”
“President Sim.”
“Just because Taeseong Chemical is being handed over doesn’t mean we can let these fall into Wooguang’s hands too. Please take them.”
The Taeseong Chemical President forcibly pressed the document bundle into Father’s hands.
“Within a week, I’ll cleanly launder the remaining stocks and slush fund ledgers and transfer them to the Young Master’s name.”
Taeseong Chemical was a company that Grandfather had prepared for Father.
It seemed he had gradually transferred Taeseong stocks over a long period to create a circular shareholding structure.
Now that Taeseong Chemical was about to be handed over to Wooguang, the Taeseong Chemical President was trying to recover and return the Taeseong stocks and divided slush funds.
“Young Master, then I shall bid you farewell.”
“Farewell? Wasn’t it all settled that you would come to Taeseong Construction?”
“I am someone who served as president of Taeseong Chemical. If I drag all the Taeseong Chemical executives along to Taeseong Construction, it would look very bad.”
But Father couldn’t exactly give up the construction company president position either.
‘It seems Grandfather wanted the Taeseong Chemical President to guide Father until he could safely take over Taeseong Chemical. But with Father taking the Taeseong Construction president position, all those plans got disrupted.’
It meant the Taeseong Chemical President’s position was left hanging.
He couldn’t push Father aside and take the Taeseong Construction president seat, but someone who had been a president couldn’t join the construction company as just another executive either.
‘While the Taeseong Chemical executives joining Taeseong Construction could be considered a promotion, the Taeseong Chemical President joining the construction company would clearly be a demotion to anyone watching.’
The Taeseong Chemical President knew this too, which is why he mentioned farewell.
“New wine should be put in new wineskins. What would I be but an obstacle to the Young Master if I came along?”
“President Sim is an experienced and capable person. I need President Sim’s experience and abilities. I have much to learn.”
“No. Young Master, you are now the proper new leader of Taeseong Construction.”
The Taeseong Chemical President smiled warmly.
“Didn’t you brilliantly secure this subway construction project? And by extending the subway line, you even obtained the Gangnam Seoul Express Bus Terminal construction. You’ve already achieved magnificent independence.”
Taeseong Chemical President bowed politely once more.
“I believe Young Master will grow Taeseong Construction even larger. I’ll be cheering you on from afar.”
“President Sim, how about we take more time to decide on this matter? We can’t let a talent like President Sim go like this.”
That’s when it happened.
“Seong-jun, what are you doing there? We should go in now. Father is waiting.”
Uncle (Elder) came out to get us.
Taeseong Chemical President saw Father off with a smile.
“Please go in first. I’ll smoke a cigarette and follow you in. I need to properly give New Year’s greetings to Chairman and clearly convey my farewell.”
Father rubbed his face wearily.
“It would be better to discuss that again later. After hearing what Father has to say.”
“Yes.”
We followed Uncle (Elder) into the Mansion.
* * *
While crossing the Garden, Uncle (Elder) spoke.
“Are you worried about Taeseong Chemical President Sim’s future? Then I could take him.”
“Hyung would?”
“Yeah. You know Taeseong Motors is short-staffed these days, right? We’re trying to expand business. I think we need to create another affiliated company that handles heavy equipment exclusively.”
Uncle (Elder) smiled warmly.
“If someone as capable as President Sim helps me, I should welcome him with open arms. Welcome! Thank you!”
This meant Uncle (Elder) also had his Eyes on Taeseong Chemical President.
‘I can’t let Uncle (Elder) steal such a valuable talent.’
Uncle (Elder) wasn’t the only one with his Eyes on Taeseong Chemical President Sim Won-cheol.
I also found President Sim Won-cheol equally appealing.
‘It would be great if Sim Won-cheol could run my Investment Company.’
If it’s Sim Won-cheol who took charge of Taeseong Securities and grew it significantly, he would probably grow my investment company properly as well.
‘In the past, Sim Won-cheol went under Cha Ki-joon when Taeseong Chemical became independent and split off. He lost his patron Father in a plane crash, and even his position at Taeseong Chemical became uncertain.’
Sim Won-cheol’s joining was like giving wings to Cha Ki-joon’s shoulders.
At that time, the affiliated company that Cha Ki-joon, the Second Son, was in charge of was Taeseong Distribution.
Cha Ki-joon had hoped for heavy industry-related affiliated companies, but his attempts kept falling through.
‘When Cha Ki-joon took charge of Taeseong Motors, which was staggering due to the oil shock, Sim Won-cheol made a technical partnership with Germany happen and acquired Saebom Automotive at a bargain price, allowing Taeseong Motors to make a comeback.’
Cha Ki-joon finally got his hands on automotive and heavy industry, which were core affiliated companies of Taeseong, and Taeseong Group became divided and split in half.
‘Right now Father is still alive and well. But Sim Won-cheol’s position has become uncertain, so will he switch horses to the Second Son this time too?’
Don’t tell me a war to recruit Sim Won-cheol is about to break out?
If so, then this isn’t the time for me to just sit here with my hands folded.
‘When it comes to recruiting talent, there’s no such thing as later? The first person to snatch them up wins.’
I’m making my move too, first strike!
I’m jumping in too, the talent war!
“Father, would you like to go in first?”
“Hm?”
“Yes, the lawn here is really wide, and there are lots of wonderful trees, and lots of sparkling lights too.”
“Hmm. Father will look at the garden later…”
Father was looking a bit troubled.
“Young Master, have you arrived?”
Secretary Kim greeted us in front of the entrance.
“Please come inside. Everyone is waiting.”
“Secretary Kim, there’s a place I want to go together. Please help me!”
“Help… shall we go then?”
When Secretary Kim readily extended his hand to me, Father finally nodded.
“Secretary Kim, I’ll leave him in your care.”
It’s nice being with Secretary Kim because there’s no nagging that usually follows!
Don’t be late for mealtime, be careful not to get lost, you must be polite to strangers, don’t touch this and that carelessly, and so on.
It was quite bothersome how warnings and reminders that you’d give to a child always followed without fail.
* * *
“Young Master, that’s not the garden but the parking lot?”
Found him!
Taeseong Chemical President Sim Won-cheol, still chain smoking in the corner of the parking lot!
“Secretary Kim, about Taeseong Chemical President Sim Won-cheol. Does Grandfather have a position at an affiliated company already arranged for him?”
“Not yet.”
So it’s on hold then?
Meaning he has no intention of taking Father’s person and giving him to another child.
“President Sim is trustworthy, right?”
“Of course. Even if dragged away by the KCIA, he’d die before revealing Taeseong’s secrets.”
“And he’s capable?”
“Indeed. Would it be explanation enough that he built Taeseong Chemical into a 30 billion won company in 7 years alongside the Chairman?”
“You know well that I’m looking for someone capable and trustworthy, right?”
“······!”
I winked at Secretary Kim.
“Then please cooperate with me.”
That was why I had asked for help earlier.
Because Secretary Kim himself was like a guarantee.
I ran over to Taeseong Chemical President Sim and bowed deeply with both hands clasped together.
“Hello, President Sim. I’m Cha Jeong-hyeok.”
“Cha Jeong-hyeok… Ah, Young Master Seong-jun’s…”
“Yes, it seems you’re in a difficult situation with your position up in the air because of Taeseong Chemical.”
I had no intention of beating around the bush.
“I’ve brought a proposal that might interest you, President Sim.”
I held up my pinky finger.
“But it’s a secret. Even from my father and grandfather. How about it?”
Taeseong Chemical President Sim smiled broadly.
He hooked his pinky finger as if he would humor a child’s game.
“If it’s a secret proposal that goes against conscience and morality, I won’t accept it.”
“This isn’t about betraying Father, or switching sides to another Uncle, or abandoning Grandfather or Taeseong.”
I took out a neatly folded written agreement from my coin purse and held it out.
It was Grandfather’s written agreement.
“Th-this is the Chairman’s······!”
It was a written agreement where Grandfather would provide full support so I could acquire the company I wanted with 100% ownership.
However, the main condition was not to covet Taeseong’s affiliated companies.
“As you can see, I’m planning to acquire a company soon.”
“May I ask which company it is?”
“Korea Oil Corporation.”
“······!”
President Shim of Taeseong Chemical’s jaw dropped.
“Ha, 100% ownership of Korea Oil Corporation······ Easy to say, but there’s no way you could handle it······. This isn’t child’s play, ha!”
When he was making an expression like he was so flabbergasted he didn’t know where to begin his rebuttal, Secretary Kim nodded with a serious expression.
“This is something I’m helping with.”
“Seriously? Secretary Kim, do you really think this is possible?”
“Of course.”
President Shim of Taeseong Chemical’s expression changed.
He might not trust me, but he could trust Secretary Kim.
He began reading Grandfather’s written agreement carefully once more with a serious expression.
“Unlike Wooguang, our Taeseong doesn’t have an oil refinery company. It’s about time Taeseong acquired an oil refinery company, don’t you think?”
“······!”
“Oil refinery companies require such enormous initial investment that acquiring one is much cheaper than establishing a new one.”
I can’t tell him that Yukong will be available at a bargain price when the oil shock hits.
It’s easier, faster, and simpler to persuade him with the logic of ambition and money.
President Shim of Taeseong Chemical is a man with both ambition and a sharp mind.
“The opportunity will definitely come. Only those who prepare in advance can seize that opportunity. That’s why I’m going to establish an investment company to prepare for that time.”
I took out a well-folded investment agreement from my coin purse.
It was a document containing the investment agreement signed with Geomul Bank.
President Sim of Taeseong Chemical’s voice trembled like his hands holding the agreement.
“Are you saying you’re preparing to acquire Yukong by bringing in the banking sector as well?”
“I invest in Geomul Bank, and Geomul Bank invests in our investment company.”
“The amount currently contracted for investment with Geomul Bank is… 1.5 billion won just for the initial investment? And you plan to gradually increase the investment amount?”
“We plan to purchase about 103,000 pyeong of land where the subway station will be built. It’s a joint investment with Geomul Bank.”
I winked with one eye.
“Subway construction will start soon. Looks like we’ll be able to handle quite a tidy sum of money, right? Then the cleanly money laundered funds will return to the investment company. Multiplied dozens of times within a few years.”
President Sim of Taeseong Chemical and Secretary Kim both looked at me with stunned expressions simultaneously.
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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