The Return of the Ruined Chaebol's Third-Generation Heir - Chapter 119

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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The Regression of a Fallen Chaebol’s Third Generation – Episode 119
“Come in. Have a seat?”
As I opened the door to the executive office, Oh Jin-su was already seated at his desk, waiting for Im Do-hyun and me.
I sat down across from him alongside Im Do-hyun, and Oh Jin-su nodded before speaking.
“When I went to report to the Group the other day, they wanted me to share that first before we continue.”
Oh Jin-su had been visiting the Group almost daily to brief the Chairwoman on recent developments. It was directly tied to logistics’ survival, so he maintained close communication with the Group.
“The Chairwoman is fully aware of the situation, and the Group’s directive is singular.”
Im Do-hyun and I focused on Oh Jin-su’s words.
“Regarding the Seonjin Automobile Group matter, they’re leaving the response to Seonjin Logistics.”
“So the Group is stepping back?”
At Im Do-hyun’s question, Oh Jin-su chuckled and shook his head.
“Not exactly. The Group is trusting us. And……”
Oh Jin-su paused, looking at me before continuing.
“From what I gathered, the Group doesn’t seem to have that close a relationship with Seonjin Automobile Group either.”
I nodded. I’d mentioned the same thing to Im Do-hyun before, so he would understand.
In any case, the lack of Group-level involvement meant we had space to move freely—a significant advantage.
“Want to hear our response strategy?”
Oh Jin-su looked at me.
“I’ll start with the bidding proposal direction.”
I placed the prepared documents on the table.
“Qualitative Evaluation. It means they’re judging operational capability rather than price—and many think that puts us at a disadvantage.”
“True. It does feel like they suddenly flooded the bidding with multiple companies to exclude us.”
“However, I think that could actually work in our favor.”
“Our favor?”
Oh Jin-su’s gaze shifted from the documents to my face.
“During the ten years Seonjin Logistics operated Seonjin Automobile Group’s cargo, we accumulated accident rate data, cargo volume trends, and customer satisfaction records—none of which any new company can include in their proposal.”
Oh Jin-su nodded.
“And the most crucial point is that we can start operations immediately. We already have the trucks, warehouses, and TMS infrastructure running. We can handle cargo the day after signing the contract.”
The business plan Danny had given me flashed through my mind.
They would need three months even after winning the contract. I couldn’t mention that weakness directly in this room……
The reality was that starting operations after those three months wouldn’t be easy either.
“Since it’s Qualitative Evaluation, we should emphasize operational stability and Risk Management capability over unit price.”
When Im Do-hyun added his point, Oh Jin-su nodded and picked up the documents, then set them down again.
“But there’s something I need to discuss first.”
Im Do-hyun and I looked at Oh Jin-su.
“There’s been another resignation in the Sales Division. Corporate Logistics sector.”
At that, Im Do-hyun spoke up with a serious expression.
“That makes eight resignations total. Key personnel with over ten years in Corporate Logistics, people who hold shipper data. They’re being processed as voluntary job changes, but there’s a pattern. Same timeframe, carefully selected experienced staff only.”
He paused before continuing.
“Rumor has it they’re going to Seonjin Global.”
Oh Jin-su nodded. He’d already heard and knew about it.
Everyone sensed it, but no one had brought it up in an official setting.
“Losing people on top of the competitive bidding… it really does seem like he just wants to hand the cargo business to his son.”
His tone was bitter.
“Representative, the staffing exodus is connected to another agenda we need to discuss.”
“Go ahead.”
“Restructuring our core business.”
Oh Jin-su’s eyes narrowed.
“Corporate Logistics is structurally dependent on shippers. Whether it’s now or later, large corporations establishing their own logistics is inevitable. There’s no better succession tool for second and third generation heirs than a logistics subsidiary.”
Seonjin Automobile Group was exactly that case. Oh Jin-su knew it all too well.
“The people leaving are Corporate Logistics specialists, but Social Commerce logistics requires different capabilities.”
“Social Commerce?”
“Based on Kim So-mi’s research findings, there are over 500 social commerce companies flooding the domestic market. Places like Rocket Shopping, Ticket Shop. Monthly cargo volumes are growing 20 to 30 percent month-over-month, yet not a single one has its own logistics infrastructure.”
“Zero?”
“Yes. Zero.”
Oh Jin-su rubbed his chin.
“We can reallocate part of Gunpo Hub and start right away. Run it as a testbed first, then shift fully once the Ochang Center is complete.”
“How do we handle the bidding? Both simultaneously?”
“If we win, we buy time. If we lose, having alternative revenue already locked in means we survive.”
Im Do-hyun added his support.
“The Director’s office already received this report. We think the direction is sound.”
Oh Jin-su fell silent for a moment. He ran a hand over his face and then leaned back in his chair, gazing at the ceiling.
‘He’s thinking about the bidding team’s morale.’
If word got out that we were preparing for defeat while the bidding was still active, it could destroy morale.
But the reality was equally stark: if the Seonjin Automobile volume disappeared without replacement revenue, the company wouldn’t survive—morale would be the least of our problems.
“Team Leader Kang.”
“Yes.”
“Can you handle both simultaneously?”
Oh Jin-su looked directly at me.
“The Planning team isn’t big, and I’m asking if you can manage without concentrating all your focus in one direction.”
“I’ll be more hands-on. For now, I’ll have the whole team focused on the bidding, while I and Kim So-mi from Planning Team 2 handle Social Commerce separately.”
“That so?”
Oh Jin-su nodded and spoke.
“Good. The bidding is the priority, no question. For the Social Commerce side, you and Kim So-mi move quietly on your own. We’ll share results once we have them.”
“Understood.”
“Remember—the bidding is the priority, come what may.”
“Understood.”
Im Do-hyun and I bowed respectfully and left the executive office.

* * *
“You picked the right people.”
Seonjin Global Office.
Kang Jin-ho flipped through the proposal spread across the table, nodding approvingly.
“Shipper-by-shipper cargo data, seasonal logistics patterns, existing freight rate structures—everything’s reflected. Since the employees were recruited from Seonjin Logistics, the information should be reliable.”
At his subordinate’s report, Kang Jin-ho’s lips curved upward. He leafed through the proposal from the beginning again.
“Seonjin Logistics must have been a complete mess.”
“……”
“They drove their employees like dogs while refusing to pay them decently—of course this is what happens.”
“Exactly. They all came over because we offered top-tier industry compensation, and they’re overflowing with enthusiasm.”
“What Seonjin Logistics built over ten years, we accomplished in one month.”
With each page he turned, satisfaction welled up. The systems the new employees had built and refined surpassed Seonjin Logistics’ in every way—there was nothing lacking.
“…Now that the plan is prepared, it looks like we just need capital to flow through.”
The subordinate ventured carefully.
“We’ve started building the logistics system with current capital, but to resolve truck leasing and warehouse procurement, we’ll need additional funding……”
“Don’t worry. I’m in talks with investors.”
Kang Jin-ho closed the proposal as he spoke.
“You mean DK Capital?”
“Yes. They need time to understand our proposal, but it shouldn’t take long. The other side’s representative is putty in my hands.”
Kang Jin-ho thought of Danny. The way he’d looked at Seonjin Global as an attractive investment opportunity.
The funding was as good as secured.
“What should we do about exploring other investors? Staff morale is suffering because the responses haven’t been positive.”
“We don’t need it. You can stop.”
Kang Jin-ho cut her off decisively.
“Once DK comes in, there’s nothing else worth looking at.”
“Are you sure?”
“I’m sure. Just send whatever materials DK requests quickly.”
“Understood.”
Zing—
As they were talking, Kang Jin-ho’s phone vibrated. A familiar name lit up the screen.
Kang Jin-ho gestured to his subordinate to leave, then pressed the answer button.
“Danny!”
-Representative Kang, how’ve you been? I reviewed the materials you sent.
Danny’s voice was unhurried, confident.
“Thank you. If you need anything else, I’ll send it right away.”
-Ah, no, nothing like that. We’re reviewing it internally, and the response isn’t bad.
Kang Jin-ho’s fist clenched involuntarily. He broke into a broad smile.
“Is that so?”
-Yes. The business plan is so detailed that rather than conduct full due diligence, we’d prefer to gather additional materials this way, in writing.
Kang Jin-ho nodded. If DK was willing to substitute document review for the typically rigorous due diligence process, it meant they were viewing Seonjin Global very favorably indeed.
“Of course. Document review is faster than full due diligence, and it saves both of us trouble—much better all around.”
-Exactly. We’d like you to strengthen the operational plan section a bit more.
“When you say the operational plan section…?”
-Like truck acquisition timeline, TMS vendor selection, that sort of thing—just show us how far along the operational prep is before we commit, and I think we’ll be ready to move forward right away.
It was a reasonable request. A party investing hundreds of millions wanted to see the operational readiness—actually, it meant they were reviewing seriously and in earnest.
“I’ll prepare it. We can have it to you within a week.”
-No rush. Things are going in a good direction.
“Thank you, Danny.”
Kang Jin-ho ended the call and turned around. A smile spread across his face. He left the room and approached his subordinate again.
“Representative, did you have something else to say…?”
“DK wants to see the operational plan in more detail.”
He approached the subordinate as he spoke.
“You mean the operational plan…?”
“Like truck leasing contracts or TMS vendor contracts—we need to show concrete progress.”
“How far should we prepare?”
Kang Jin-ho paused, considering, then spoke.
“The TMS vendor we were in talks with—are there any developments?”
“Yes, we’re currently in the Memorandum of Understanding stage and waiting to proceed with the final contract once investment comes in.”
“Switch it to the final contract right now.”
“But… the contract deposit…?”
“Use the money we have now. A billion-won contract deposit is manageable.”
“Then we’ll be strapped for funds elsewhere.”
At the subordinate’s words, Kang Jin-ho frowned.
“You spend money when you need to. The investor is asking for something concrete, so we need to deliver at this level.”
Kang Jin-ho looked directly at his subordinate.
“Once DK comes in, we won’t have any worries. Remember that and proceed.”
“Understood.”
The subordinate bowed, and Kang Jin-ho headed to his office.
‘There’s not much time left until bidding closes, and everything’s falling into place.’
Kang Jin-ho settled into his seat with a smile that didn’t fade.

* * *
“Quite a turnout.”
One month later. Seonjin Automobile Headquarters.
Im Do-hyun glanced around the waiting area as he spoke. Bidding participants were scattered throughout the space.
They were all making conversation, but tension hung in the air like a physical presence.
“Kang Seon-woo doesn’t seem nervous.”
Over the past three weeks, we’d submitted our proposal and finished the presentations.
With Kim So-mi, I’d pushed through MOUs with three Social Commerce companies.
Having done everything possible, I felt nothing. And most importantly, I didn’t have the sense we would lose this round.
I’d orchestrated every piece of the game.
“Aren’t you nervous?”
At Im Do-hyun’s question, I smiled.
“I’m not sure. Since I’m ready both to win and to lose, it feels like any other day.”
“Impressive. I should learn that from you.”
Then movement appeared near the waiting area entrance.
Kang Jin-ho walked in with an unhurried stride.
Seeing me, he smiled broadly and approached.
“Seon-woo.”
He extended his hand with a bright smile.
“Long time no see.”
“Long time.”
“You must have worked hard preparing. Surprised to see Seonjin Global in the bidding? I was going to mention it last time, but decided not to.”
His tone was relaxed. Like someone delivering a greeting when they already knew the outcome.
“Surprised? I saw it coming.”
“Yeah? Did you prepare well? From our perspective, Seonjin Logistics is the toughest competitor.”
“I did my best.”
“That’s all you need to do. Do your best and things work out.”
Kang Jin-ho patted my shoulder with the ease of a winner, then gave a slight nod to Im Do-hyun beside me.
“Let’s talk later. I’ll reach out after this. We should grab a meal. Whatever the result is, don’t resent me for it.”
Laughter bubbled up inside me, but I held it down and nodded.
“Hope for a good outcome.”
Kang Jin-ho shrugged his shoulders and turned to leave. Even his departing back radiated his momentum.
Im Do-hyun watched him go, then spoke quietly.
“He’s overflowing with confidence.”
“That’s just how he is. So it’s not surprising.”
Just then, someone emerged from inside the venue and announced loudly:
“All bidding participants, please proceed to the presentation hall.”
Im Do-hyun stood and looked at me.
“Shall we go?”
I stood as well, straightened my jacket, and followed Im Do-hyun’s steps.

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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