Chapter 41

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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“Expected it, but the backlash is fiercer than I thought.”

“Honestly, even if it were you, hyung-nim, would you want to hand over a building that cost 5 trillion won just to build, and will jump to 7 trillion won once the hotel opens, for only 2 trillion won?”

“Absolutely not. If I were Oh Jae-hyun, I would’ve grabbed a gasoline can and gone to the company.”

That’s why contracts are scary.

They say you shouldn’t stamp seals carelessly.

If you get caught by someone unscrupulous, this is what happens.

Of course, the president didn’t actually stuff in those clauses intending to eat LK Tower.

“This is why political connections are important. They’re pulling pure nonsense.”

“Hyung-nim, don’t you have connections anywhere?”

“Hey. Even if I had connections, the weight class difference between LK Group and our Gwangwoon is huge. Would that work?”

LK is a group.

And we’re just one securities firm.

The weight class difference can’t be helped.

“What if LK sells affiliates to raise funds?”

“It’s not impossible. The problem is selling off affiliates isn’t as easy as it seems. LK’s main business is hotels, so selling those isn’t easy, and selling other things, most companies currently can’t spend money anywhere.”

“I heard besides the 900 billion they need to pay us, promissory notes keep coming back?”

“This Brexit dealt the decisive blow. The 900 billion to pay us is important, but plugging holes that burst elsewhere is the priority, right?”

From the China shock to Europe terrorism, plus England’s sudden EU exit announcement.

The world market has been surging so much that quite a few companies are expressing difficulties.

In this situation, taking LK Group affiliates that already have poor public opinion?

Even paying thousands of billions for them?

It wasn’t easy.

“Before, there were big deals and such. M&A happened frequently too. But that’s only possible when there’s growth momentum. Why are our growth rates gradually freezing like other advanced countries? It means we already reached the growth limit.”

It was an advanced country’s common route.

Even America insisted on zero interest rates because seeing absolutely no growth potential, they set rates to 0% to somehow make people spend money.

“And the biggest problem is acquisition costs. If LK Group really can’t withstand our pressure and surrenders, we have to buy it for 2 trillion won. Even subtracting the currently owed 900 billion, it’s 1.1 trillion. That’s not all. The bank debt tied to LK Tower is a whopping 700 billion.”

“Somehow it keeps increasing.”

“Yeah. Even if we repay bank debt slowly later, LK Tower was originally made considering hotel operations together, so what to do with that too. Ugh.”

These days he keeps complaining to me and getting headaches about this.

Both LK Group using political circles to pressure Gwangwoon Securities.

And actually taking LK Tower has problems after.

“Hyung-nim. I have an idea.”

“What kind?”

“It might not be a good idea.”

“What are you saying? Jin-ho, if it’s an idea you’re putting forth, it’ll be the best idea for us. What is it? Tell me.”

I recommended that company I felt when talking with my sister last time.

“How about talking with Baekje once?”

“Wait. Baekje? Baekje Hotel?”

“Yes. I heard Baekje Hotel fights with LK Hotel over 1st and 2nd place. Won’t they see this as a good opportunity?”

At those words, hyung-nim’s expression changed.

As if shouting “Eureka!” with his face.

“Everyone get tense. If this really succeeds well, it’ll be a tremendous deal. So if you need something, we must be first to cooperate with each department and deliver materials. And the most important thing. Forget everything coming out of today’s meeting from your heads. Remember that.”

Today Baekje Hotel headquarters went on emergency alert.

Gwangwoon Securities and Baekje Hotel.

The two companies that don’t seem to match had a meeting scheduled today.

And over LK Tower business rights at that.

“Yoon-ah’s role is important. When they say they need something in the conference room, you must immediately relay it to us outside. Also, you prepared the presentation well, right?”

“Yes, Manager. I prepared well.”

“Good. I’ll count on you, Yoon-ah.”

Jeong Yoon-ah was flustered by this sudden commotion but tried not to break her concentration.

‘But Gwangwoon Securities is the company oppa works at.’

Last time she talked with oppa about the LK Tower matter.

But for negotiations between the two companies to suddenly succeed like this.

A coincidence?

For that, something’s exquisite.

“Now. Everyone get tense. Gwangwoon Securities people will enter soon.”

Soon Gwangwoon Securities people entered headquarters.

Then Jeong Yoon-ah unknowingly opened her mouth at a familiar silhouette visible far away.

“Huh?”

That side also seemed to feel Yoon-ah’s gaze and smiled meeting eyes.

‘O-oppa, why is he here?!’

Baekje Hotel.

An affiliate of Kangsung Group, Korea’s number 1 company, and the founding chairman Kang Tae-san’s granddaughter serves as CEO.

She who leads hotel and department store businesses was watching LK Group’s movements with hawk eyes. They were Baekje Hotel’s biggest rival.

So when management rights battles broke out at LK Group this time and they failed to get the duty-free shop, she probably applauded.

But LK Hotel’s stronghold still remains.

Because of LK Tower.

If that opens as is, LK will keep 1st place forever.

“..”

I entered magnificent Baekje Hotel headquarters today for negotiations.

But my gaze kept going to my sister standing by that wall.

My sister also had a quite flustered face as if she didn’t expect to see me here.

“It must have been a sudden request, but thank you for accepting, CEO.”

“We’re the ones pleased by the request. We’re just grateful you gave our Baekje this opportunity.”

We exchanged greetings receiving business cards one by one.

I exchanged handshakes with CEO Kang Mi-ra.

“I’m Department Head Jeong Jin-ho.”

Seeing someone I only saw on TV this close, I felt some internal familiarity.

“Department. Head?”

But she looked with eyes asking why someone not even an executive is here.

“Well, nice to meet you anyway.”

After such quick greetings, as soon as we sat down, CEO Kang Mi-ra got to the point.

“Your reaching out to our Baekje Hotel must be because of the hotel business, right?”

“Yes. Even if we take LK Tower, we’ve never done hotel business. And overturning everything there also has many time and cost problems. Rather than that, we judged it wise to entrust to another company.”

One side needs a company to operate hotels.

The other side needs Korea’s number 1 hotel position.

This deal was win-win for both sides.

“Then I’ll ask cutting to the chase. What amount is Gwangwoon Securities thinking?”

That was exactly the problem.

How much to sell hotel management rights for.

The reason I attended today’s meeting was exactly this.

Because I wasn’t getting intuitive feelings about exactly how much to sell for.

But I didn’t need to worry much.

Because regarding amounts, hyung-nim already decided by consulting with executives internally.

“What does Baekje Hotel think? I’d like to hear your opinion first.”

“Fine. We’ll inform you of our Baekje Hotel’s opinion first.”

When CEO Kang Mi-ra gestured, an employee came out, spread the screen, and started showing data. The problem was that employee was my sister.

“Currently due to tourism industry slump, hotel business outlook is difficult ahead. Also Korea isn’t attractive in many aspects regarding tourism industry.”

Our sister.

They said she’s getting recognized quite a bit at her company.

She’s presenting very professionally without trembling at all.

Makes me feel proud for no reason.

But looking at presentation content, she seemed to be saying current hotel industry is difficult, and accordingly they can’t call high prices.

After the presentation ended, CEO Kang Mi-ra said.

“According to such data, the maximum amount we’re thinking is 900 billion. We plan to do hotel management, and we also plan to provide Baekje Hotel’s best service to those entering LK Tower through presales. And we plan to share certain profits with Gwangwoon Securities as rent concept. How about it?”

900 billion.

Seeing hyung-nim also has no particular reaction, it must have been the expected amount.

Especially sharing hotel profits coming from LK Tower was quite big.

Conditions looked good, but exactly right there.

“.!”

The hand holding the pen started trembling as soon as I heard the price from CEO Kang Mi-ra.

I wrote the price on paper just in case.

The trembling doesn’t stop.

I kept raising the price.

1 trillion.

1.2 trillion.

1.3 trillion.

1.5 trillion.

Still the trembling didn’t stop.

Finally I raised the price sharply at once.

2 trillion.

“..”

At that amount, the trembling stopped like a ghost.

‘This is the appropriate price?’

I took a short deep breath.

2 trillion won.

Demanding an amount more than double from someone who called 900 billion.

Even hyung-nim seemed about to call a cost slightly over 1 trillion.

Yet 2 trillion won.

I lightly touched hyung-nim’s hand beside me.

Then showed him the amount written on paper.

“.?!”

Hyung-nim alternately looked at that amount and me.

At those wavering pupils asking if I’m serious, I nodded.

“Ahem. C-can I tell you the amount our Gwangwoon Securities is thinking?”

“Of course.”

Hyung-nim hesitated briefly then soon spit out that amount.

“2 trillion won.”

“.What?”

The venue stirred.

Not only their executives but our side’s executives were also bewildered together.

“W-wait. 2 trillion won? I heard you’re acquiring LK Tower for 2 trillion won. But you want us to pay that acquisition cost?”

“Yes. However, Gwangwoon Securities will resolve the 700 billion bank debt tied to LK Tower.”

“That’s ultimately resolving it with the 2 trillion won we’re paying too.”

CEO Kang Mi-ra’s voice rose saying it’s a ridiculous price.

Baekje Hotel side executives were also resisting.

“..”

Hyung-nim glanced at me once more.

I stayed still without reacting.

As if understanding that meaning well, hyung-nim nodded.

“The amount our Gwangwoon set is 2 trillion won. This won’t change.”

“Excuse me. President. No matter what, asking us to pay 2 trillion won now.”

“Once I set my mind, I’m someone who won’t change it even if the sky splits in two.”

Whether speechless from absurdity, CEO Kang Mi-ra stood up from her seat.

“Let’s cool our heads briefly. I think we need to talk among our executives and come back.”

“Yes. Understood.”

Following CEO Kang Mi-ra, Baekje Hotel executives swarmed out of the conference room.

No sooner than that, our side’s executives also all stood up and gathered toward hyung-nim.

“President. Suddenly 2 trillion won?”

“Didn’t the amount we initially set barely exceed 1 trillion? But suddenly calling double there.”

“I know very well what you’re saying. And this is Department Head Jeong Jin-ho’s decision.”

“What? Department Head Jeong?”

Everyone’s gazes now pierced toward me.

“Jin-ho.”

“Yes, President.”

“You think this amount is right?”

It wasn’t a decision made with some outstanding materials like what my sister presented, but solely by my intuition.

But don’t I know?

That my intuition is most accurate above all else.

“I think 2 trillion won is the appropriate price.”

Short gasps from executives could be heard here and there.

“Department Head Jeong. No matter what, suddenly calling 2 trillion won from 1 trillion.”

“Right. What’s the reason for borrowing Baekje Hotel’s power? Because Kangsung Group is behind them. If Kangsung Group acts as a breakwater, we can avoid pressure coming from political circles now and smoothly eat LK Tower too.”

“But if negotiations collapse here.”

“Everyone stop.”

Hyung-nim made executives shut their mouths.

“Did everyone forget? Department Head Jeong Jin-ho bought stakes with that 300 billion and led us here. Without Department Head Jeong, could we have dreamed of aiming for LK Tower?”

“That’s. True.”

I understood executives’ reactions too.

Because they think the other side will absolutely never accept.

Even I’m doubting a bit, so wouldn’t they be the same?

“So this time too, we go according to Department Head Jeong Jin-ho’s decision.”

But hyung-nim had tremendous trust in me.

“All-in and double down.”

“How on earth did the amount of 2 trillion won come out?”

Thought I’d die holding back anger enough to make my face red in front.

Knew to brace myself since they’re guys who shook LK Group with only 300 billion and are trying to gulp down even the tower, but to be this much of highway robbers!

“It’s an amount that absolutely can’t come out. This means they have no intention to negotiate.”

“Right. 2 trillion won. We don’t even own LK Tower, yet pay 2 trillion won!”

Executives were also jumping up and down.

The amount they initially expected was slightly over 1 trillion.

That’s why they called 900 billion first.

But calling an amount more than double that. Crazy guys.

If taking the entire LK Tower, I’d understand.

But that’s not it.

Paying 2 trillion won only buys LK Tower’s hotel space.

In other words, they only do hotel business, while ownership of the tower belongs to Gwangwoon Securities.

Also presale rights for spaces made for residential purposes all go to Gwangwoon Securities.

Even agreed to share hotel profits and provide services for residents, yet called such prices.

Highway robbers like no other.

‘But clearly when hearing the amount of 900 billion, President Hwang Dae-woon had no particular reaction.’

After that Department Head Jeong Jin-ho or whoever showed something from beside, his attitude suddenly changed.

First, it was strange for someone called department head to occupy a seat at the meeting.

And sitting right next to the president was suspicious.

What exactly did that person show?

“Hmm?”

Then Kang Mi-ra blinked seeing a familiar name appearing on her phone screen.

“Everyone please go out briefly. Let me take a call.”

“Ah, yes.”

After clearing her throat, Kang Mi-ra answered the phone.

“Oh my~. Chairman. You’re calling me. Sorry. I should have contacted you first after hearing you took the chairman position.”

[CEO Kang. Are you meeting with that bastard now?]

“That bastard? Who?”

[Don’t play dumb. Colluding with Gwangwoon Securities trying to gulp down our LK Tower, you think I don’t know that intention?!]

Hearing Chairman Oh Jae-hyun’s angry voice made her feel a bit better.

Because nothing’s as thrilling as seeing competitors collapse.

“Right, you should have gotten along well with family. Why make big family fights letting such highway robbers get tangled up?”

[What?! No. Phew. CEO Kang. Listen well to me. Those Gwangwoon Securities bastards, they’re total thugs. They try to lowball with ridiculous prices. They’ll probably do that to CEO Kang too.]

She flinched there once.

[But Gwangwoon Securities President Hwang Dae-woon, that person isn’t the real body. There’s someone else behind him. Someone who’s playing around starting with our LK Group and now even Baekje Hotel!]

“So you’re telling us to give up nicely?”

[Right. Don’t be greedy unnecessarily and give up LK Tower. Then I’ll give you generous gratitude.]

“For me, the best gratitude would be LK Hotel pulling out. If we let LK Tower open as is, we’ll never get the number 1 position in the industry.”

[No. CEO Kang. Don’t you understand what I mean? We’re being played on some bastard’s palm now, so we should at least cooperate.]

“I understand what you’re saying well. But Chairman, you take care of your own family. Don’t meddle in others’ business. I’m hanging up now.”

[CEO Kang. W-wait!]

Click.

Kang Mi-ra hung up.

Feels oddly satisfying seeing Chairman Oh, who was always an eyesore competing in hotel business, stamping his feet.

Plus Kang Mi-ra could feel it.

That Chairman Oh is very afraid right now.

Why would Gwangwoon Securities try to join hands with Baekje Hotel?

Because LK Group somehow squeezed out money to pressure Gwangwoon through political circles.

So Gwangwoon doesn’t want to drag things out long and wants to quickly get the tower into their hands by backing Kangsung Group behind Baekje Hotel.

“Such guys call 2 trillion won?”

Though insufferable, what if Baekje gives up negotiations like this?

It would be the same as throwing away the opportunity to cut off LK Hotel’s lifeline.

“No matter what, 2 trillion won seems to cross the line.”

Should try negotiating somehow.

Thinking so, she stood up to go back to the conference room.

“But what did that mean earlier?”

Then she suddenly recalled what Chairman Oh desperately shouted.

“There’s someone manipulating Hwang Dae-woon from behind?”