Max-Level Son of a Chaebol Family - Chapter 70
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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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70. Young Master Had a Plan All Along
Of the two people who had stunned expressions, Secretary Kim quickly composed himself.
Secretary Kim smiled warmly.
“You’ve multiplied your money again in the meantime?”
That brief exclamation contained many implications.
Only then did I realize why Secretary Kim was surprised.
‘Secretary Kim had already conducted a background investigation on my financial situation.’
When I was going around looking to buy a house, we only had barely 10 million won.
Now that same person had fattened his pockets and was talking about investing 1.5 billion won in Geomul Bank, so of course he’d be shocked.
“Huh…!”
But President Shim of Taeseong Chemical couldn’t manage his expression.
He muttered in a half-dazed voice.
“You’re saying you’ll partner with the bank to buy 103,000 pyeong of land near subway stations?”
“I have the money and the information. Is there any reason not to buy?”
I shrugged my shoulders.
“When you obviously know land prices will skyrocket, not buying would be foolish.”
“An investment company targeting dozens of times profit from market price differences within a few years… Hah, and using that to acquire Yukong… Hah hah hah.”
President Shim of Taeseong Chemical seemed so flabbergasted that he was left speechless.
He turned to look at Secretary Kim.
“Secretary Kim, how old is Young Master this year?”
“He’s turning eight years old.”
The more he heard, the more President Shim of Taeseong Chemical let out a deflated laugh.
“Eight years old, hah… A Young Master who’s only just eight years old is running a 1.5 billion won investment company for land speculation and money laundering… Who is it?”
President Shim of Taeseong Chemical’s expression darkened completely.
“I asked who is behind Young Master. Is it Young Master Seong-jun? Or perhaps Madam? Maybe it’s even the Chairman.”
Secretary Kim’s expression became strange.
He looked back at me, and I could see the perplexity of ‘How and where should I explain this?’
I chuckled softly.
“Right now, it seems more important to decide where President Sim’s future lies rather than who my backer is.”
“Hmm.”
President Shim of Taeseong Chemical stroked his chin and opened his mouth.
“Young Master, the plan to buy land near Subway Stations and make profits will certainly be a great success. The Investment Company with perfect Money Laundering will also make big money. But it’s not enough.”
President Shim of Taeseong Chemical shook his head.
“To acquire Yukong, we’ll need at least 400 million US Dollars.”
Yes, that would be true if it were before the oil shock occurred.
“First, Gulf Oil of America owns 50% of the shares. Just acquiring that at market price would cost about 200 million US Dollars.”
But when the oil shock happens, Gulf Oil will dispose of their shares at rock-bottom prices.
Would you believe it if I said Samhwang Oil’s acquisition of Yukong cost 100 million US Dollars?
But back then, everyone was just twiddling their thumbs because they had no US Dollars.
“Would the Government easily transfer Yukong to a private company? Oil, which forms the foundation of the Government, is literally no different from a cash cow.”
Exactly. But they did transfer it.
Because of the oil shock, the pressure from England and America’s neoliberal policies was so tremendous.
The massive debt that snowballed because of oil was too burdensome for the state to bear.
So they dumped it on the private sector, saying even if it fails, let it fail at the corporate level.
“Even assuming the Government just hands over their share, this is a business that requires at least 200 million US Dollars. How do you plan to solve the shortage of money?”
“I’m thinking of bringing in Vice Ministers from Saudi Arabia.”
“From Saudi Arabia? Vice Ministers?”
President Shim of Taeseong Chemical looked stunned and closed his mouth.
His thoughtful demeanor seemed positive.
President Shim of Taeseong Chemical’s Eyes lit up as he raised his head.
“Would that be possible?”
“You seem to have forgotten. My Father is constructing a city near Jubail Commercial Port in Saudi Arabia. The Construction bid is worth a whopping 100 million US Dollars.”
“Ah, the Jubail Industrial Port city Construction!”
I nodded my head.
“Do you think the construction projects Father secured in the Middle East are limited to just Saudi Arabia?”
“I’ve heard. The projects Young Master Seong-jun secured while traveling through various countries in the Middle East are at an incredible level.”
“The Middle East is overflowing with oil money right now, but their infrastructure is terrible.”
“So that means we could secure even more construction contracts?”
President Shim of Taeseong Chemical understood immediately with just a hint.
“Father has already laid the foundation of trust by repeatedly completing construction projects in the Middle East.”
“I see. I heard the Middle East is such an exclusive society that it’s difficult for foreigners to enter easily. Samhwang and Wooguang, as well as Hyeonmu and Geumjo, have all failed repeatedly, haven’t they?”
“What’s important in the Middle East is track record and trust.”
“So you’re saying that Taeseong Construction, having already proven itself with track record and trust, would be extremely advantageous for attracting oil money from Saudi Arabia or other Middle Eastern countries.”
Exactly that!
“Now that Father is taking over Taeseong Construction, he’ll be handling the Subway Line 2 construction and the Gangnam Seoul Express Bus Terminal construction. So what about the projects secured in the Middle East?”
“Fortunately, the executives from Taeseong Chemical have moved to Taeseong Construction!”
President Shim of Taeseong Chemical smiled broadly.
“Those guys are more capable and diligent than expected, and they’ve been rolling around in construction for so long that they’re quite seasoned.”
That makes sense.
The executives from Taeseong Chemical are also Grandfather’s long-time loyal retainers.
Grandfather is someone who built his company with cement and construction and grew it into a conglomerate.
So they’re all people who rolled around in cement and construction during the difficult times.
“Right now, the Middle East mainly entrusts construction projects to America, right? But compared to Korea, it’s so expensive and slow that they can’t meet completion deadlines, so there are many complaints. I heard they’re looking for other business partners.”
The Middle Eastern construction boom that swept through Korea in the 1980s.
Korea secured numerous construction projects by promoting fast construction speed, cheap construction costs, and decent construction quality despite that.
At one point, about 85% of the foreign currency income earned in Korea was Middle Eastern money.
“Since monopolizing oil, the Middle East has been focusing on city construction. But they haven’t even properly built major waterways, let alone highways. There are overflowing construction opportunities.”
“That’s right. Just properly handling one road construction project alone could easily earn 20 million, no, 30 million US dollars.”
President Shim of Taeseong Chemical’s mind was spinning rapidly.
“One project secured in Saudi Arabia is worth 100 million, and if we take advantage of the Middle Eastern construction opportunity to secure many other projects as well… This might actually be possible.”
The president of Taeseong Chemical clenched his fist tightly.
“If Young Master Seong-jun has laid such a foundation in the Middle East, those guys will be responsible for the completion.”
A smile appeared on President Shim of Taeseong Chemical’s face.
“How do you think those guys climbed up to executive positions? They’re guys with some insight into sales too. They’ll probably show clearly what Korean-style business is like even in the Middle East.”
Korean-style business, huh.
Are they going to win construction contracts in the Middle East by passing around Bacchus or something?
“I believe everyone will help Father and do excellently not only with the subway construction but also with Middle East construction.”
“Of course. They will. They have to.”
“How about it? Do you like this picture right now?”
“Of course. I like it very much.”
President Shim of Taeseong Chemical laughed heartily.
“It couldn’t be better. I was actually worried whether they might have friction with the existing Taeseong Construction people. But if they return after achieving great success overseas…”
“It becomes a promotion.”
Demotion and promotion are different.
“Performance is ability, and if they’ve achieved merit, they should be treated accordingly. It’s not that Taeseong Chemical was handed over and they’re defeated soldiers begging for their lives at Taeseong Construction, but they’re returning in glory as the top contributors who led foreign currency earning in the Middle East.”
“Excellent. It’s a perfect picture where no one will be disappointed.”
President Shim of Taeseong Chemical nodded repeatedly, looking very satisfied.
“Actually, I was briefly disappointed, thinking that Young Master Seong-jun had thrown away everything and ruined his future because of a woman.”
President Shim of Taeseong Chemical was a person chosen as Father’s man.
He had grown Taeseong Chemical to become Father’s strength, and was a loyal retainer who had managed Father’s slush funds and stocks.
But when Father refused the marriage with Woo-gwang, the Taeseong Chemical he had worked so hard to build was completely handed over.
Even if he didn’t say it, he must have felt bitter inside.
President Shim of Taeseong Chemical’s smile looked a bit bitter.
“But in fact, you were thinking of us. So you designed it so that the Taeseong Chemical executives would achieve great success in the Middle East… I can only admire it. I really seem to have chosen the right person to serve.”
Before long, President Shim of Taeseong Chemical was smiling with relief.
“Thanks to this, I think I can now retire without regrets.”
Wait, is this person serious?
He’s going to retire because he can’t go to Father?
That won’t do.
“What about me?”
“…Pardon?”
I tapped the Investment Agreement I had signed with Master.
“The proposal I made to President Shim, have you forgotten? The investment company.”
President Shim of Taeseong Chemical opened his eyes wide.
-This isn’t betraying Father, nor is it switching sides to another uncle, nor is it abandoning Grandfather or Taeseong.
-The opportunity will definitely come. Only those who prepare in advance can seize that opportunity. That’s why I want to establish an investment company to prepare for that time.
President Shim of Taeseong Chemical slapped his own forehead.
“The big picture! Taeseong’s future! Preparation for acquiring the oil refinery company! The grand plan that Young Master Seong-jun’s future depends on!”
“Of course. How could I entrust such an important matter to just anyone? Will you help me?”
President Shim of Taeseong Chemical’s pupils shook violently as if an earthquake had struck.
I extended my hand.
“Take my hand. Then I’ll give you options in the future, President Shim.”
“Options?”
“Once we successfully complete the Yukong acquisition, I’ll send you to whichever place you want among the three – the investment company, oil refinery company, or Taeseong Chemical – to whoever you want to follow.”
“…Wait a moment, Young Master. I understand the investment company and oil refinery company, but why is Taeseong Chemical included in there?”
President Shim hung his head.
“Taeseong Chemical has already been decided to be handed over to Woo-gwang. It’s such a waste. If I had guessed that Young Master Seong-jun’s intentions started with construction… I wouldn’t have let Taeseong Chemical be taken away so futilely. Sigh…!”
President Shim of Taeseong Chemical squeezed his eyes shut.
“If Young Master Seong-jun had gotten construction, oil refining, and even chemicals in hand, you could have aimed for the next chairman position… Because I acted so foolishly…”
“I haven’t abandoned Taeseong Chemical though?”
“…Pardon?”
President Shim of Taeseong Chemical’s eyes snapped open.
But he soon chuckled.
“I understand that it couldn’t be helped. You couldn’t have protected your precious family without abandoning Taeseong Chemical. What I’m saying is just…”
“I’m thinking of taking Taeseong Chemical back from Woo-gwang.”
“…Pardon?”
That’s Mother’s part.
So that he wouldn’t be constantly criticized for losing Taeseong Chemical.
Since I’m planning to send Taeseong Chemical along as Mother’s dowry.
But President Shim of Taeseong Chemical and Secretary Kim shook their heads frantically with shocked expressions.
“Young Master, that’s impossible. Wookwang Group Chairman Kim is not such an easy person to deal with.”
“The Chairman had no other choice but to hand over Taeseong Chemical.”
Everyone seems to be firmly saying it can’t be done.
There’s no way to explain this, is there?
“Want to make a bet?”
Why are you all so surprised?
This is much simpler than acquiring Yukong.
“The loser grants the winner one wish. How about it?”
* * *
After sending Cha Jeong-hyeok inside first.
Sim Won-cheol banged his head against the fence wall.
Thunk!
Secretary Kim grabbed Sim Won-cheol in surprise.
“President Sim, what are you doing right now?”
“Secretary Kim, I feel like I’m possessed by a ghost right now. No matter how I look at it, I don’t seem to be in my right mind.”
Sim Won-cheol had a half-dazed expression.
“When I came to my senses, I had already finished signing and sealing the employment contract?”
Secretary Kim finally let Sim Won-cheol be.
“What exactly is that coin purse? Secretary Kim saw it too, right? Not only the Chairman’s written agreement and investment agreement, but even a pre-written employment contract came out of it?”
Sim Won-cheol rubbed his face with dry hands.
“Young Master Jeong-hyeok said there would be a recruitment battle over me today. Did you perhaps receive any hint about this from the Chairman separately?”
“No, I didn’t.”
“Will Young Master Ki-jun really make such a proposal to me?”
“I’m not sure.”
Secretary Kim smiled broadly.
“What does that matter now? President Sim has already made up his mind.”
“That’s true, but. To be honest, I can’t help but have mixed feelings about the words of an eight-year-old child…”
Just then, someone entered the Pyeongchang-dong Mansion with a group of people.
A man in his thirties with narrow eyes, wearing a smile that seemed painted on his lips.
“President Sim, I heard that Taeseong Chemical is being handed over to Wooguang?”
“Young Master Ki-jun.”
Chairman Cha’s Second Son and president of Taeseong Distribution, Cha Ki-joon, had arrived.
“How about it? I happen to have a good…”
“I must decline.”
It was an extremely firm answer.
For a moment, the smile that was always hanging on Cha Ki-joon’s lips froze.
However, Cha Ki-joon smiled even more gently and asked.
“How can you cut me off so decisively when you don’t even know what proposal I’m going to make to President Sim?”
“Isn’t it about the overseas branch of Taeseong Trading? The one covering America, England, and Germany.”
“…!”
Cha Ki-joon’s eyes widened.
But what was this?
At Cha Ki-joon’s reaction, Sim Won-cheol was also opening his eyes wide.
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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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