Chapter 36

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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“Department Head. LK Group and various funds keep requesting meetings with our company.”

What’s needed in management rights battles?

Exactly bullets.

Then where do they procure these bullets?

Using company funds is embezzlement.

But embezzlement has many vague aspects legally.

They were using such legal loopholes to divert company funds for management rights defense.

However, if they cross a certain line, they could end up in handcuffs for breach of trust while trying to obtain management rights. Also, LK Group currently poured enormous money into LK Tower completion, so remaining balances aren’t much.

Then where can they receive bullet supplies?

Exactly private equity funds.

Private equity funds.

Non-public funds that recruit fewer than 49 minority investors and don’t promote publicly.

They quietly operate normally.

Then when incidents stimulating enough burst, they suddenly appear carrying massive amounts of capital.

Especially when management rights battles are in full swing, private equity funds whose names you’ve never heard suddenly appear like mushrooms after rain.

Like water deer overflowing in our country being world endangered species, management rights battles are rarely seen overseas but frequently occurring fun events in our country.

“As soon as rumors spread that LK Group’s management rights battle started, everywhere is trying to step in. There are funds attached to Chairman Oh Dong-young or President Oh Jae-hyun, and also funds with no connections to those two but trying to take this 5% we have and sell it at higher prices.”

“I hear that just like JK Holdings sold stakes to us through over-the-counter trading due to funding problems, Japanese companies holding LK Orient stakes are selling off to funds. And those funds are attached to either Chairman Oh Dong-young or President Oh Jae-hyun.”

Like that, as funds supplying bullets participated, the management rights battle was intensifying more.

But there are limits to stake volume, and who holds more within that decides the next chairman.

And this 5% we’re holding.

To the two forces with almost similar stake rates, this 5% will be the final hit deciding the match.

“It’s strangely thrilling yet feels strange that our securities firm is receiving the most attention in domestic markets now.”

As the deputy said, what domestic markets are most watching now is our Gwangwoon Securities.

Because rumors already spread widely that we hold the decisive cards determining LK Group’s successor.

“Now the important thing is price.”

“We need to find the appropriate price well. Sneakily raising prices bit by bit so those two can compete would be good too.”

“But if we cross the line too much, they might find ways to fight excluding these stakes, so we need to be careful of that too.”

“Where was it before? Right. HS Group also had management rights battles where stake prices rose too much, so they released paid-in capital increases.”

Things that would be sued overseas happen really frequently in domestic markets.

Yet since punishments aren’t heavily imposed, such things keep repeating, and now our country’s investors also just think of them as kinds of events.

“Section Chief. How much are other places measuring stake prices?”

“Ah, yes. Since the control structure is so complex, at first proper prices didn’t come out because stakes were tangled, but now 30% added to face value seems considered standard. Then through negotiation, they sometimes give up to 50%.”

“Other places did it like that?”

“Yes. On the Japanese side, they already handed over stakes to specific funds at 50% prices. Can’t know detailed transaction information, but rumors say so.”

Maximum price 50%.

This was an amount put out prepared for some bleeding.

That’s why Japanese companies holding friendly stakes are all throwing volume.

“Most thought Chairman Oh Dong-young’s side would be dominant, but after actually gathering stakes, the ratios match almost perfectly, so attention urgently focused on us.”

Both Chairman Dong-young’s side and President Oh Jae-hyun’s side already almost finished securing stakes.

Finally only we remained.

“What do you think is the appropriate price, Department Head?”

Employees looked at me in unison.

I answered without hesitation.

“3 times.”

“.What?”

Then they wore expressions like did they hear wrong?

But they didn’t hear wrong.

I already decided the price for the 5% stakes I’m holding.

“I view 900 billion as the appropriate price.”

“What!?”

Right now, anyone who does some stock trading is only watching Gwangwoon Securities.

People think Gwangwoon Securities is having fun weighing with this 5% stake they currently hold.

But fun my ass.

Rather, Gwangwoon Securities executives were the most anxious.

“President. A report came from the prime department that they decided the stake price for LK Orient.”

“Finally!”

“Thought I’d die waiting.”

President Hwang calmed his heart by gulping water and asked.

“How much did Jin-ho measure?”

“900 billion.”

“!?”

President Hwang Dae-woon unknowingly spat out the water he was holding.

But no one frowned seeing that.

Because the moment they heard the price, they also lost their souls.

“Did I hear wrong?”

“900 billion?! Selling the 300 billion one for 3 times?!”

“No. Does he think that’s possible right now.”

Executives had reasons for making noise.

According to information Gwangwoon Securities already secured, currently Chairman Oh Dong-young and President Oh Jae-hyun are giving prices only up to 50%.

Well, through negotiation they could raise prices a few more percent but.

“Three times.”

A bit sorry to say this, but this was calculation almost no different from daylight robbery.

No matter how urgent control rights are, would they try to burn 900 billion for 5%?

“Thinking rationally, 3 times honestly doesn’t make sense.”

“Right. But he’s the guy who stabbed his own father and brother from behind. Would he be rational? Management rights battles aren’t done only with reason. It’s also men’s pride at stake.”

There’s a saying when investing.

Discard emotions and think rationally.

But nothing works as you please like that.

Especially when management rights battles heat up, they might be cold and rational at first, but as it goes, it spreads into pride battles.

“No matter how scary men’s pride battles are. Still, wouldn’t 900 billion make lost sanity return sufficiently?”

They’re guys who entered management rights wars holding hands with funds because fighting with funds only inside LK Group is difficult since they spent all money on tower construction.

In situations where they must think about the future after management rights battles, 900 billion was too big an expenditure.

“No matter how I think, neither Chairman Oh Dong-young nor President Oh Jae-hyun seem likely to buy stakes.”

“Yes. Though my insight is lacking, this is clearly set too high by anyone’s view.”

“..”

The executives’ thoughts are right.

Normal people would know it’s an absurd price.

But what’s important is who decided this price.

“If Jin-ho attached this price tag, he must have reasons.”

Gwangwoon Securities’ two rules.

Rule 1. Don’t doubt Jeong Jin-ho’s investment decisions.

Rule 2. Remember Rule 1.

President Hwang Dae-woon was following those rules very well.

But just believing isn’t enough.

Even if meager, shouldn’t he think of ways to help with best efforts?

Because that’s an executive’s role.

“Did Jin-ho reject all meetings?”

“Didn’t directly reject, but didn’t respond either. He probably seems to be holding off.”

“That means.”

Products are like that.

Wallets open when you make the opponent want to purchase.

No matter how fucked up that price is, if purchasing intent arises, they buy even unreasonably. And he felt making that heart anxious was somehow his role.

“Contact both sides. We’ll meet, but only the top decision-makers should come.”

That meant both Chairman Oh Dong-young and President Oh Jae-hyun should come to the negotiation table.

“You’ll meet directly, President?”

“Right. If Jin-ho set the price, I should do my best to sell it.”

“Then rather sending Department Head Jeong Jin-ho.”

“That won’t do. Why do superiors exist? Aren’t they there to be shields? In such critical matters, I should step up. If there’s responsibility to take, I should take it.”

He has no intention of using Jeong Jin-ho as a shield by putting him forward.

In games too.

The raid leader was always Jin-ho, but when problems arose, guild master Hwang Dae-woon always stepped forward and took responsibility.

The company is the same.

The raid leader directing this investment is Jeong Jin-ho, but the person who should take responsibility is the company president, Hwang Dae-woon himself.

“Contact them. Let’s meet as soon as possible.”

Gwangwoon Securities.

One of Korea’s top 10 securities firms, honestly below the top 3 securities firms, they’re all just small fries at similar levels.

But one of those small fries held LK Group’s fate.

“Director. How did Gwangwoon Securities know in advance and secure stakes? Few people besides a minority would’ve known I’d hit my father’s back of the head.”

Meaning information leaked in advance.

“Before you met shareholders to persuade them, Gwangwoon Securities already secured those stakes. Meaning there was nothing for information to leak. The timing was a bit exquisite. Since they took stakes right before we executed work, we couldn’t recognize in advance either.”

Today, Hwang Dae-woon who secured a meeting appointment, despite being a small fry securities firm president, dared call both LK Group chairman and President Oh Jae-hyun to one place.

Normally he would’ve ridiculed him as an insolent guy, but this situation of canceling all schedules hurriedly and rushing to the meeting place was just deplorable.

“So information leak or whatever. You’re saying they secured stakes before doing anything?”

“Yes. It’s ghost-wailing work. No one knows why they suddenly took stakes useless for anything. Only Hwang Dae-woon would know.”

Gathering two people like this seems like intending to attach price competition, but if the opponent is his father, it won’t be easy.

“Oh my. Please come, President. Nice to meet you. I’m President Hwang Dae-woon of Gwangwoon Securities.”

“Ah, yes.”

Arriving at the meeting place, President Hwang and father were already waiting.

Chairman Oh Dong-young glared viciously at his son.

“Wicked bastard. You finally show that proud face.”

“.I’m sorry.”

“Right. Since we met like this anyway, let me ask the reason. Why the hell are you causing this crazy thing? Are you sane? How dare you hit me and your brother’s backs when there’s nothing to hit? You betrayed our family. You know?!”

Emotions wriggled there.

“If father had given me even one chance, I wouldn’t have done this.”

“What, what?”

“Isn’t it too unfair to hand over the company only for being the eldest son? What am I inferior to brother in?”

“No younger brother surpasses his elder brother. That saying fits perfectly. You still think you’re great? Guy who can’t see even an inch ahead! Your nose reaches the sky because you had good performance a few times.”

As their emotions intensified, President Hwang smiled and mediated.

“Now, now. Both of you please calm down. Fighting is sufficient to do later.”

“Hmm. Was it President Hwang? I won’t say much. 50%. That’s enough, right? No more words, hand over my stakes. I need to end this nonsensical fight quickly and teach that ill-mannered bastard.”

50%.

As expected, the predicted amount.

“President Hwang. We can match up to 60%.”

“Hey! Oh Jae-hyun!”

“Father. I didn’t come here today as your son.”

“This extremely unfilial bastard.!”

“President Hwang. Please decide quickly. Will you hand it over at 60%?”

President Hwang quietly looked around at the two people in full heat.

The grudge between father and son is bigger than expected.

At first he tried to attach a fight by touching pride, but that seemed unnecessary.

“I’ll tell you the price I’m thinking for this 5% stake.”

“Don’t dawdle, speak quickly. How much do you want?”

President Hwang grinned and said.

“900 billion.”

“.?”

You can tell Oh Dong-young and Oh Jae-hyun are definitely father and son.

Both blinking eyes looked exactly the same.

“9, 900 billion!?”

“No. President Hwang. Are you playing word games now?”

“I’m someone who doesn’t know how to joke. I’ll say again, the price we set is 900 billion. We have no intention of discounting even one won, so only those interested among you two should contact us.”

Chairman Oh Dong-young yelled loudly.

“President Hwang. Are you crazy? What? 900 billion? Do you think that’s a corner store name!?”

“I’m still perfectly sane. I’ll probably just get more cursed if I stay here, so please think it over while cooling your heads. Then.”

Hwang Dae-woon maintained his leisurely appearance until the end and left the room.

He didn’t let go of the leisurely smile even up to the moment of going to the car.

And the moment he got in the car.

“Phew.”

As tension released, he finally let out held breath.

“Really thought I’d die from heart trembling.”

Until going to meet, he had no particular thoughts, but actually facing Chairman Oh, he was extremely nervous.

Old man, they said he was lying in sickbed from old age illness.

Was it all lies?

What an expression like a tiger.

His voice was no joke either.

Still, he really tried hard not to look flustered.

To complete the stage Jin-ho created.

“The two people’s atmosphere was no joke.”

He just made the two people meet and fight each other.

Actually President Hwang didn’t do much.

“Wonder which of them will buy.”

Please they have to buy.

After Hwang Dae-woon left, awkward silence flowed briefly in the room.

But soon Chairman Oh burst into loud laughter.

“That crazy bastard. Blinded by greed. It’s practically over. Still planning to hold out?”

“What do you mean over?”

“You, do you have money to buy that for 900 billion? You don’t. You already fully pulled company funds. If you pull more from here, it’s embezzlement. Then funds? Trying to borrow 900 billion from those bastards? Then even if you seize the company, will they leave you alone?”

In short, the moment he pays 900 billion, it’s no different from pouring oil on his body.

“The game already ended. Since bitten by that greedy hyena, you have no cards left.”

“What about you, father? You can’t buy either, can you?”

“Me, I can buy if I want to. But is there need? At this rate, my side’s stakes are dominant? Plus I have not even this much thought of giving 900 billion to such a scoundrel.”

Chairman Oh Dong-young stood up with a relieved face.

“Settle nicely and come in. Still, you’re my bloodline, so would I completely kick you out? However, you’ll have to rot forever in the plastic factory. Repenting your sins for life.”

As if already certain of victory, Chairman Oh Dong-young left final notice and exited the room.

“..”

Oh Jae-hyun left in the room blankly looked at the ceiling.

Alcohol came and food came, but he couldn’t take even one spoonful.

Is it over like this?

Really like this?

“No.”

It’s not over yet.

“Director.”

“Yes, President.”

Director Choi who’d been standing quietly beside him since the meeting ended had his head deeply bowed. He seemed to already sense defeat too.

“Shall we. Pour oil on our bodies once?”

Director Choi flinched in surprise and opposed.

“What? President. Surely you’re not trying to pay 900 billion? That’s really crazy!”

“I know. I know too. But I don’t want to end my life like this. Director, if it goes like this, you’ll have to resign too. Do you really want to end it like this?”

“..”

If he surrenders like this and folds everything, that would truly be an ugly end.

Like Yi Bang-won, the moment he drew his sword, he swore.

He would get this company no matter what.

No matter what!