[319]Is it possible to give flesh and take bones? 2
When it comes to pushing a difficult task like this, nothing comes for free. Jin Young-jun’s side must have promised an enormous amount of compensation.
When Vice President Jang Do-hyung asked cautiously, General Manager Hyun Wan-ju lowered his voice significantly.
“I’m not sure because I just heard it. Jin Young-jun will take over a mid-sized construction company… . I heard he was dividing the shares of the construction company. “I don’t know any further details.”
It is a set procedure to create a new construction company in place of Sunyang Construction, which was taken over by Jinyoung-Jun Jin.
Isn’t it easy to operate just by handling the volume of group affiliates and is it an essential part of creating a slush fund?
Although he took a step back by saying that he did not know the details, Vice President Jang Do-hyeong spoke in a low voice to Director Hyun, who without much hesitation revealed the transactions that took place behind his back.
“Director. No, senior Hyeon. Are you planning on hitting me?”
“Attending the shareholders’ meeting will be my successor, the general manager. “If I leave this matter in doubt, the tower I worked so hard to build may collapse.”
Although he worked at an investment company and was in charge of handling hundreds of trillions of won, he only works with an annual salary of around 200 million won. Considering the weight of responsibility for operating hundreds of billions of dollars, this is an absurdly low compensation.
This is a position that is difficult to sit in without a sense of public responsibility. That’s why the National Pension Service also says that bringing in a head of operations from outside is always a headache.
The head of the division is under unfair pressure to the point of resigning.
Confusion always harbors an opportunity for a reversal deep within.
Vice President Jang Do-hyung’s head began to spin violently.
What would Jin Do-jun do?
After organizing his thoughts, Jang Do-hyung said something that Jin Do-jun would have said.
“Senior Hyun, we… Would you like to make a deal?”
* * *
“Construction company? With just that one thing, you gave up your position as the owner of a company worth tens or hundreds of trillions of dollars? No way?”
Vice President Jang Do-hyung, who came to meet the head of the Fund Management Division, looked embarrassed.
“I guess that’s all the current director knows. “There will be more backroom deals.”
“Damn it, I can give those guys whatever they want, but why do I have to deal with my uncle?”
Even though I knew why, I complained for no reason. My uncle, with whom I spent a long time, would have been much more trustworthy in dealing with dirty side deals than me, who was of a completely different generation.
“Chief. So I proposed a deal.”
“transaction? “You mean Director Hyun Wan-ju?”
“yes. He has no intention of ruining his career with this merger. “I plan to step down before the general shareholders’ meeting.”
“You are a wise man. So, what is your suggestion?”
“I told them not to resign voluntarily, but to stick to their opposing views until the end and hold out until they are kicked out.”
If the National Pension Fund Management Headquarters does not unanimously support the merger, there is no choice but to replace the members. The head of the division is no exception.
“So?”
“I told them to record the entire process until they were kicked out.”
“You mean the recording?”
“Whether it is a recording or a record, it is at a level where it can be useful evidence.”
“Let’s see the end… ?”
“The only way to stop this is a lawsuit. Although the general meeting of shareholders is a legitimate procedure, the merger ratio between the two companies violates securities disclosure regulations. “There is a good chance that the merger value calculation methods of asset value, profit value, and relative value all violate the rules.”
“Do you really believe that? Vice President?”
“Well, that’s… .”
I stuttered, as if I had trouble answering.
Those who are currently involved in the fight under the guise of merger are people who exist above the law.
No matter how much noise they make in the world, whether through lawsuits or the media, the world continues according to their scenario.
A fight between people who hold the law in their hands.
The winner of this fight, as always, is the side that the government supports. This is because the subject of law enforcement is the government.
“It’s not a reprimand. Well done. “Then what did the current head of headquarters want?”
“Nothing at the moment. “He said he wanted to rest for a while if he was kicked out of his position as head of the division.”
“Tell him to get plenty of rest. He told me that he would give me the position I wanted at any time. Wouldn’t his record be enough to strangle someone? That is enough.”
As soon as I checked who was moving behind me, I felt relaxed and tired.
As I closed my eyes and laid my head back on the sofa, Vice President Jang Do-hyung quietly got up and moved out of the way.
After being blank for a while, I called the lawyers. This is because I need to know and judge exactly how much I can do under the law.
“First of all, the manager must disclose the amount of shares held by Sunyang Corporation for the purpose of participation in management.”
“Also, we should initiate legal proceedings to file a lawsuit for a temporary injunction against Sunyang Corporation and its directors to block the general shareholders’ meeting.”
“There is one more thing. Since the asset values of Sunyang Admere and C&T are too different, Sunyang C&T will sell its treasury shares. They will hand it over to a trustworthy company and then buy it back once they secure management rights. “From other subsidiaries or affiliates.”
I asked back after hearing the opinions poured out by the lawyers.
“Do you have any chance of winning?”
“The results of our calculations are as follows. Due to the unfair merger ratio, the book value of 7.8 trillion won of C&T is being handed over to Jin Young-jun, an individual. “We need to emphasize this.”
“Then what logic do you think the other side will use?”
“They will emphasize the synergy effect from the merger. Although Sunyang Ad Media is small, its net profit margin is enormous. And I will mention the stocks of other affiliates owned by Sunyang Ad Media. The value gained from smoother business linkages with affiliates, etc… .”
What the lawyers say is nothing more than an empty numbers game that will echo in the courtroom anyway. This is not enough to defeat the law enforcers.
After sending them out, I was left alone again.
No matter what I did, I wasn’t satisfied.
Even if they mobilize all their power and boil down the court to win the injunction lawsuit, maintaining the status quo is everything. Even after going through all the trouble, I can’t even take a single step.
It’s too inefficient.
‘You catch a mouse when the cow moves backwards.’ The proverb refers to coincidence or fluke, but his grandfather said it differently.
He said that an incompetent person is not worth anything.
“Even a cow catches a mouse when it takes one step. What’s more, if you’re a human being, every time you move, you have to grab something or catch and kill someone!”
If I maintained the status quo even after mobilizing enormous amounts of money and connections, my grandfather would immediately call me an idiot. This happened when I felt like the voice was ringing in my ears. He has to kill one and take it.
* * *
My plan, no, that’s my idea now. After listening to my thoughts, Chairman Lee Hak-jae looked more serious than surprised. The words that came out a while later were very short.
“Are you confident?”
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“I do not know. I don’t think it’s something you start because you’re confident, but because you have to do it. “If this situation continues, it will just harden.”
“Why do you think that?”
This is because there are no opportunities like the subprime crisis or the Dubai crisis in my memory in the future, and Jin Young-Jun, who has the huge Sunyang Electronics, which is expected to double in 5 years, can further strengthen his reputation. Since he couldn’t say this out loud, he said something else.
“Because my uncle and Youngjun have no intention of returning after running away.”
“On the days when things don’t move as you think and you take even a single step, it’s like building a castle on the other side with your own hands. know?”
“yes. That’s why I can’t say I’m confident.”
Chairman Lee said with a long sigh.
“When are you going to set the date?”
“There’s exactly one year left until the presidential election, right? So, I plan to start in the second half of next year. During periods of regime change, public officials are also busy keeping an eye on things. “There will be a lot of holes.”
“I think we should postpone the shareholders’ meeting as much as possible.”
“yes. It will have to go to litigation. “The shareholders’ meeting they want will only be possible in May or June.”
“Oh, by the way, tightrope walking is no ordinary tightrope walking. “I mean, we have to drag out a lawsuit that we absolutely have to lose.”
It would be a big deal if I won the lawsuit for a provisional injunction to ban the resolution of the general shareholders’ meeting. Just as a body must be found for murder to be committed, a general meeting of shareholders must be held and a merger must take place.
Only then can the hunting begin.
“This tightrope walk is not that difficult. This is a lawsuit you will lose no matter what you do. “The problem lies next.”
“It’s a decisive blow… .”
“My uncle has used up all the cards he could use in this merger case, so he is in the position of a toothless tiger. He can keep you on your toes.”
“A tiger is a tiger until it dies. “Aren’t you thinking too easily?”
“In the public sector, it may be possible to make at least one phone call, even if it is small. But if your private parts come out, you won’t be able to use even the slightest amount of power.”
“Private? “What does that mean?”
Chairman Lee frowned as if it was difficult to understand.
“It has been a long time since the group strategy team members served as my eyes and ears. “I know full well what the people in my family are doing.”
“what?”
“Oh, those employees don’t know that they are my eyes and ears. “Everything I say while eating or drinking comes straight to me.”
Chairman Lee, who had forgotten what to say and just blinked, let out a groan-like sound.
“ah… … “Kim Yun-seok is from there, right?”
“yes. But the real one is Manager Shin Seok-ho. “You’ve been working for me for over ten years.”
“Shin Seok-ho? That friend… ?”
“yes. It’s the oldest. Thanks to that, aren’t you the manager in charge of your uncle’s family? There are a lot of things I want to hide from the world. “I plan to secure only a few crucial items.”
Chairman Hakjae Lee said with a shocked expression.
“Then what about Youngjun?”
“Fortunately, in this merger case, Youngjun was said to have taken the lead. If the lawsuit drags on, they will come forward again. “There is definitely a chance.”
“You stupid bastard.”
Chairman Lee clicked his tongue.
“Director Baek is not a sack of barley… . “I should just say hello and leave, but you’re asking me directly.”
“They don’t think of it as their own. Chairman, don’t you know this? Since my grandfather passed away, the person my two uncles were most wary of was the chairman. “Hehe.”
“Then there will be another chance.”
Chairman Lee smiled.
“yes?”
“Chief Baek. Aren’t you in trouble with Tosagu? Can you please scratch my itch? See how it turns out?”
“That would be nice too. One thing is certain. My eldest uncle and Youngjun don’t know that people are precious. Director Baek… . “I’m sure you’re very upset by now.”
It doesn’t matter if Director Baek Jun-hyuk is someone who is endlessly loyal. He has not yet received any external shock, so he is just faithful to the law of inertia.
It takes a shock to see how solid a loyalty that has never been tempted is.
“When such a person betrays, things turn scary. “I think you know me well because I used to work under the chairman.”
“Humans are there, right? “If you satisfy your greed, build up your pride, and don’t feel embarrassed, you tend to be inclined.”
There is one more thing. If you have a wound, you need to soothe it, and the best way to soothe your wound is not to apply medicine to your wound, but to inflict the same wound on the person who hurt you.
Who hurt Director Baek Jun-hyuk the most?
* * *
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