[079] A gloomy New Year 2 for someone
At first, it was an expression that did not understand what Se-Hyun Oh was saying.
“What are you doing? I want you to call me right away.”
When pressed once more, the creditor executives took out their cell phones.
They realized that breaking the negotiations and withdrawing meant renegotiating, and the new negotiations meant reducing the acquisition amount to the extent that the bank president, the head of the creditors, had to decide.
Oh Se-hyeon and I leisurely drank tea until the executives ended the call.
The executives who ended their calls one after another with urgent voices gathered in the corner of the conference room and whispered. They are trying to exchange what their superiors have said and come to a conclusion.
“Can you tell me the conditions under which the acquisition price can be paid in full by 4:00 pm on the 30th tomorrow?”
The three executives expressed the unanimous opinion of the bank presidents.
“Acquisition amount 800 billion won. 400 million dollars based on the exchange rate of 2,000 won. If you accept, we will deposit $400 million into your designated account today. And tomorrow, let’s sign the agreement again.”
I said without holding my breath as if I had waited.
“If we do not hear from you by this afternoon, Miracle will announce tomorrow morning that it will give up its acquisition of Ajin Group with tears in its eyes due to the economic crisis.”
When I finished my words, Oh Se-hyeon spoke quickly without skipping the warning.
“You will be busy from now on, so we will go back. We look forward to your positive reply.”
The expression of the creditors was distorted enough to show that everyone thought it was an absurd condition.
We opened the conference room door before they even opened their mouths and walked out.
“Are you okay? The exchange rate has already been marked at 2,000 won, so it’s a bit burdensome to hit a whopping 40% even if you agree.”
“Isn’t this story already over? Why are you doing that again?”
“Looking at those people’s faces, my heart was racing.”
Before meeting the creditors, I had a severe conflict with Oh Se-hyun about adjusting the acquisition amount, but I couldn’t overcome my stubbornness. However, when I saw their reaction, I must have thought that something might be wrong.
I did not set the number of 800 billion arbitrarily.
In the past, when Daehyun Motors acquired Ajin Group, the amount was 800 billion won. First of all, Daehyun Group, which was selected as the subject of negotiations, dragged on negotiations for two years, turning 1.2 trillion into 800 billion.
It is not that the value of the company has declined further, but the situation in Korea has made it that way.
I was equally anxious.
However, I believed that the situation was no better now than it was two years later.
Aren’t those who can do anything to protect themselves the people who stand at the pinnacle?
Bank bosses will be desperate for $400 million to keep the job.
And if I make a suggestion to help them make their choice, my anxiety will disappear completely.
Oh Se-hyun went back to Yeouido and I ran to my grandfather’s house.
* * *
“Look at him! He didn’t even pick up a knife, but he’s no different from a robber. 800 billion.”
“There is no robbery to negotiate.”
“It is the knife that forces the cornered rat to choose, you bastard. haha.”
Grandpa let out a good laugh.
He must have liked the fact that he brought out a new card at a very opportune moment.
“It was good that I didn’t give you time to think. Even a mouse driven into a predicament will surely escape if given time.”
“It’s useless after the year.”
I said cautiously to my grandfather who nodded.
“I have a favor to ask.”
“You’re asking for a wedge, right?”
“…yes.”
One notice is filthy fast.
“Which wedge should I put in?”
“Please prepare an advisor position for Sunyang Group. I will pay all the costs involved.”
“You learn bad things quickly. haha.”
I learned everything from you. You taught your son, and your son taught your grandson. I just picked it up from the side.
Instead of these words, it was replaced with a bitter smile.
“How much are you willing to pay?”
“Wouldn’t you be satisfied if I gave you 2 billion won for 5 years?”
“How many state bond banks were there?
“Three places.”
“Then six billion. You give generously.”
“Because Sunyang’s name is at stake. You can’t lose your temper.”
“There are too many of them, but… thanks to you, I’ll be a bit condescending. haha.”
Grandpa smiled and held out a piece of paper.
“Take a look at this.”
The paper was a financial sector restructuring plan with a list of banks to be sold and merged.
The first two banks that caught my eye were the creditors of Ajin Group, and they were to be sold.
“I was thinking about how to use this, but it turns out it’s for our Dojunie.”
The fact that the financial sector restructuring plan came out at this point means that the transition team of the next government took the lead.
It hasn’t even been a few days since the transition team was formed, and their every move is placed on the grandfather’s desk. It was a scene that showed how tightly the tentacles of the Sunyang Group stretched out.
“Did you get this list bank as well?”
“If it’s that common, they don’t even report it to me. Only Daehyun Group knows about it.”
“I can really use it effectively.”
“It must mean that you are lucky. If you know that you will soon be unemployed, you will bite. Maybe you’ll come running and bow your head in thanks.”
The advisory position at Sunyang Group has become a rope, not an offer.
it’s a shame. If you knew this information a little earlier, you’d be hitting it for half the price.
“Do-joon.”
“yes.”
“Sunyang is also planning to announce a major restructuring plan early next year.”
also. It seems that it is difficult to recover from about 1 billion dollars.
Although it has sold subsidiaries, it has never liquidated its subsidiaries. How many do you want to organize?
“You will have to make a tough decision.”
“In a way, that’s a good thing. This is because departments that only eat money or lose competitiveness can be gathered together and organized. Now, there will be no people who are making noise about unfair dismissals.”
I forgot.
That the IMF was the best opportunity for surviving companies.
And that it was also the moment when the monopoly of the top conglomerates began.
Seeing my hard expression, my grandfather must have been mistaken. say stupid things
“Even if you say it’s okay. Although it may help improve the group constitution, there is no need to cut off the precious flesh. Don’t worry too much.”
“yes. If so, I’m glad.”
In this case, you can say what you want to hear without knowing it. Then you can receive an unexpected gift. like right now
“And I’m going to take this opportunity to do something I’ve been putting off.”
“……?”
“Since you are over 20 years old, I should give you a present. I’ll give you some stake in the group. I will sneak it into this restructuring plan, so you can take it cheaply.”
An indescribable feeling appeared on his face.
“This bastard, is the guy who gulp down the Sunyang Motors so happy with how many pieces of it he has? haha.”
Grandpa giggled and picked up the receiver.
“And this is a gift to you now. Beat from the wedge.”
Soon after, the call started in a distinctive voice.
“Oh, President Kim. I heard that you have a lot of hard work these days…”
* * *
“…Of course, President. I don’t even want to run around. Isn’t it actually a private contract? There is no need to inform.”
Oh Se-hyeon forced himself to stop laughing and ended the call.
I was worried that things might have gone wrong when there was no phone call until it got dark, but when evening came, the phone call I had been waiting for came.
Their additional condition was that the media announcement be postponed.
And that night, my uncle and I had a toast and held a year-end party, regretting the passing of 1997.
In the very house where my uncle is a regular.
But I didn’t drink much until midnight. At midnight, my uncle called Miracle, New York, USA, and $400 million went into the creditors’ account.
The next morning, dozens of lawyers reviewed the acquisition contract with the changed conditions in the president’s office of Ajin Group’s main bank, and in the afternoon, the contract was signed.
The bank executives glared at Oh Se-hyeon, who smelled like alcohol, as if to kill him, but the bank manager had a calm expression.
This is because it is the end of the year that has nothing to regret for those who have reliable insurance that guarantees their old age.
As I stood in the corner watching all this, my heart was filled with joy. Today is the day you become the owner of the second largest automobile company in Korea.
* * *
On New Year’s Day 1998, Grandpa’s mansion was crowded with people.
As the crisis continues and Sunyang Group prepares for restructuring, the presidents of affiliates all gather to put their eyes on the grandfather in order to survive.
My cousins who were studying abroad all attended and bowed to the elders in turn.
“Sangjun, you study music?”
“…Yes,”
said Sang-joon, who had returned to Korea after two years, in a hoarse voice, probably expecting an unholy command to fall from his grandfather who hated Dantara.
“You want to become a singer?”
“Oh no. I am studying producing.”
“Produce?”
“yes. Making albums for singers…”
“You bastard. I know that too. Are you ignoring me because you’re old?”
Sang-jun hyung slowly raised his lowered head. Because my grandfather’s voice was soft.
“Are you okay?”
“what?”
“I changed my studies on my own…”
“You just have to be good at what you want to do. Watch and learn from your father. I heard that you are the president of the largest film company in Korea. Is that right?”
Receiving Grandpa’s gaze, Father waved his hand.
“Oh no. We are still far away.”
“It’s like a man with a hat. What did you do after 10 years in that shitty movie version?”
“This year, I will rise to the top of the film industry. Don’t be too harsh.”
The father saw the smile on his grandfather’s face and laughed with him.
“Sangjun-ah.”
“yes. grandfather.”
“You don’t babble like your father. You have to quickly finish your studies and become the best at the bottom in 10 years.”
When the official permission was granted, Sang-jun hyung’s expression brightened.
“yes. grandfather. I will definitely be the best.”
When I bowed in my last turn, there was not much to say. He only nodded his head lightly with a satisfied expression.
“It will be very difficult this year, so everyone keep their heads up and work. I will never forgive you for shaking the sheep.”
Grandpa never forgot to warn everyone.
“And Young-Jun consulted with the eldest child to hurry up the marriage. I plan to get married before the regular greeting, and Yeongjun will be appointed as an executive at Sunyang Corporation.”
Jin Young-joon laughed at his mouth tearing up and bowed his back.
“thank you. Hah… No, Chairman.”
The family gathering ended like this, and the order of taking the eye stamps of the subordinates returned.
When my grandfather’s shouts in the study started to go wrong, my family quietly returned home.
Even Sang-jun hyung was recognized, so it felt like he had become a true member of the Sunyang family.
* * *
The first news that adorned New Year’s TV was the decision to sell the two banks.
It was a representative bank established in 1929 under the name of Chosun Savings Bank, and a bank established as a regional bank in 1959 and grown into a national bank.
The reason the news was even more shocking was that both banks were designated as ‘priority for overseas sales’.
Public anger pierced the sky as there was a great perception that banks were places where the nation’s wealth was stored.
When the IMF announced that it would inject emergency bailout funds, the grateful heart disappeared. It was because I knew that I was taking the bank on the condition that I only lend it, not that I had aided the dollar.
Of all those who watched the news, I was probably the most surprised.
I looked at the notebook that recorded the memories of my previous life several times, but this fact was nowhere to be found.
Well, since I was in college when I was in the middle of playing, there was no way I was watching the economic news.
I wondered if I would have been able to take over the bank if I had known, and I wondered if it would be possible even now.
A bank that chaebol conglomerates wanted so much but could not have.
Having such a bank is like gaining big wings.
What will the takeover price of the two banks be? Trillion won? No, tens of trillions?
The joy of being the owner of a giant car company three days ago had already vanished.
A new prey appeared before my eyes.
The only desire to have that prey shook me.
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