Park Jin-hyuk opened the envelope handed to him by Park Jun-man and checked the documents inside.
But more than the words written on the papers, he was shocked by the number floating at the top.
[1,300,000,000,000]
The figure of 1.3 trillion won written there made Park Jin-hyuk pause and take a deep breath as he looked at Park Jun-man.
Seeing Park Jin-hyuk’s startled reaction, Park Jun-man figured he understood what those documents meant, and spoke.
“That’s right. It’s the development rights for the Luil Plaza project that Qatar announced not long ago. It’s not a public bid, but a private contract. All you need to do is sign and hand it over.”
“You prepared this in advance?”
“I thought it would fit to conclude the restructuring with the announcement of a new contract, so I got it ready. I’ve already spoken to the Qatari government, so as long as the construction goes smoothly, you’ll be able to participate in their other projects—expressways, hospitals, fertilizer plants, and more. Manage this well.”
“Thank you.”
Park Jin-hyuk put the documents back in the envelope and bowed his head in thanks.
In any case, seeing such a huge project prepared in advance, it was clear Park Jun-man had been concerned about him too.
Park Jin-hyuk accepted it without refusal, tucking it away carefully.
He knew well that when it was time to make a move, it was most effective to strike with as much as possible, just as Park Jun-man said.
With the envelope in hand, Park Jin-hyuk stood up from his seat.
“Well, since our talk is about finished, I’ll be heading back now.”
“Sure. You’ll need to get moving if you want to be ready, so go on. Also, I’ll order that the general meeting of shareholders be scheduled as soon as possible, so make your preparations accordingly. Su-man’s face when the meeting starts will be something to see.”
When the rights offering for shareholders was first discussed, Park Jun-man had been strongly opposed, but now he looked forward to its announcement, his attitude completely changed.
Park Jin-hyuk bowed to Park Jun-man again and left the chairman’s office.
Once Jin-hyuk had exited, Secretary Hwang approached Park Jun-man and asked,
“Chairman, what should we do with the preparations we’ve made?”
“Dispose of them. That boy can handle things on his own—there’s no need for us to move. Oh, and tell Director Oh to get in contact and arrange something with Daekwang Group.”
The moment the name Daekwang Group came from Park Jun-man’s lips, Secretary Hwang looked utterly shocked.
“Chairman… Don’t tell me you’re actually considering the madam’s proposal? If you do, the eldest young master…”
“From what I can see, Jin-hyuk is doing fine. And once he brushes aside all that talk about liquidity, people will start paying attention to him. Won’t Sang-hyuk fall too far behind? I have to balance things out.”
“Chairman, if you join hands with Daekwang Group, it won’t balance things—it’ll definitely make things worse for Young Master Jin-hyuk. Please reconsider.”
Secretary Hwang pleaded earnestly, trying to dissuade him.
But Park Jun-man just chuckled, tapping his cigarette on the desk.
“If he’s upset, Jin-hyuk can do exactly what Sang-hyuk does. What’s there to worry about? It’s not as if there’s no other path.”
“Then… Chairman, are you pairing up Daekwang Group with Young Master Sang-hyuk also because of Young Master Jin-hyuk?”
“It’s not just because of Jin-hyuk, but it plays a part. If left alone, who knows what sort of showgirl he might bring home? I’d rather make the first move myself than see something like that. Someone like that simply doesn’t suit our family.”
Feeling the cigarette was sufficiently packed, Park Jun-man put it to his lips and lit it.
Looking up at Secretary Hwang standing on his right, he spoke again.
“It’s about time I started preparing for succession. Do you know why I haven’t provided the money needed for the children to buy their shares? If I give it to them in advance, they won’t listen to me. To make them listen, their pockets need to be a little empty, don’t you think? Marriage is a business, too. What kind of in-laws you get can change the direction of your business. Director Oh has full control over Sang-hyuk and understands how I think. That’s why he speaks to Daekwang first, then seeks my approval. But that boy who just left—he doesn’t have anyone to teach him these things. That always bothered me… but now, it seems he might be able to figure things out and come to me on his own.”
“Chairman, what will you do if the eldest young master acts against your wishes?”
“Against my wishes? Then it’ll be one of two things—either he gives up on DS, or he’s confident he can get support elsewhere besides his in-laws. But is that so easy? If the world were that easy, I wouldn’t have had to marry twice.”
Park Jun-man exhaled a long stream of smoke, reminiscing about the past for a moment.
Then he turned again to Secretary Hwang.
“Let’s wrap things up with Daekwang and get out before it gets cold. Not that it’s right to say this while smoking, but… my chest feels more and more suffocated lately. I feel like I have to move before the cold sets in.”
“Yes, sir. I’ll make the preparations.”
Secretary Hwang bowed his head in reply, but his mind was already racing with other thoughts.
‘The young master said he wasn’t interested in marriage… I need to give him a heads-up before we leave. What should I do?’
As Park Jun-man spoke about leaving, Secretary Hwang worried he wouldn’t have the chance to see Park Jin-hyuk before then.
*****
“Director, what is this?”
Before heading to the president’s office on the 22nd floor, Park Jin-hyuk stopped by the 21st and handed the documents he’d received from Park Jun-man to Hyun Yi-soo, then took a seat on the sofa.
“A present from the chairman.”
Hyun Yi-soo opened the envelope as she listened, scanning the documents inside.
As she read through them carefully, her eyes widened, and eventually she sat down on the sofa across from Jin-hyuk, her voice trembling with excitement.
“It’s the private contract for the Qatar Luil Plaza Tower construction…!”
“That’s what I hear. We’ll put off the formal contract until after the general meeting.”
“If you say general meeting, does that mean the chairman agreed to the rights offering for shareholders?”
“He gave me the private contract, telling me to strike big all at once—so I suppose he agreed.”
At Jin-hyuk’s words, Hyun Yi-soo looked like a child who’d just received a new toy.
The Qatar Luil Plaza Tower contract was one of the large-scale projects every construction firm had been eyeing lately.
Just this one contract was worth over a trillion won, and considering the other government orders that could follow, it was valued at several trillion more.
On top of that, seeing that the project had been bundled as a single contract for all four plots—PLOT 1 through 4—it looked certain they’d be able to land future government business as well.
Announcing this would refill their order book, which had shriveled after cutting unprofitable projects, and then some.
“And there’s one more thing you need to prepare.”
As Hyun Yi-soo enjoyed the contract in her hands, she noticed Jin-hyuk’s tone turn low and serious.
Meeting her eyes, Jin-hyuk leaned in and whispered so only she could hear.
“Prepare a clarification disclosure.”
“A clarification disclosure? About what?”
“Regarding the merger of Dongjeong Industries and DS Construction.”
“What?”
Hyun Yi-soo shot up from her seat in surprise.
“Did the chairman order this?”
“Keep your voice down. People outside might get startled.”
Indeed, people who’d been sneaking glances through the glass wall now openly turned their heads to look into the office at the commotion.
Realizing she’d overreacted, Hyun Yi-soo sat back down and asked,
“Director, what is this about? You want to prepare a clarification disclosure about a merger?”
“I thought we should do this properly. If we go with a rights offering for shareholders, my second uncle won’t just sit by. Just as he pressured the creditors, he might use securities firms and others to keep attacking us. I want to cut that off at the source.”
“Director, but we have this, don’t we?”
She lifted the Qatar Luil Plaza private contract.
But Jin-hyuk only shook his head.
“It’s not enough. A construction contract alone isn’t enough to prop up a falling stock price after a rights offering. Don’t you agree?”
At Jin-hyuk’s words, Hyun Yi-soo nodded.
A trillion-won contract was certainly huge, but it wasn’t enough to stop the stock from falling after the announcement of the rights issue.
Of course, there was the card of guaranteeing the unsold shares.
But that was only a safety net—it wouldn’t turn the market sentiment.
However, a merger with Dongjeong Industries would change the game.
“Please be honest—did the chairman or someone from Dongjeong say something to you?”
“No. There’s nothing. It’s just a clarification disclosure—what would there be to hear? We’ll ask the exchange to confirm the rumors, and we’ll answer them. Isn’t that a classic story?”
Now, Hyun Yi-soo understood Jin-hyuk’s intentions.
Ever since Jin-hyuk had acquired shares in Dongjeong Industries, the media had eyed him with suspicion.
So a clarification disclosure wouldn’t sound entirely baseless.
And even if they denied it, the rumor would continue to spark speculation—it was a plausible enough story.
If this triggered a clarification request, the market would surely react explosively.
“Director, you really know your way around stocks.”
“I’ve played with them a little in the past.”
Jin-hyuk smiled at the memory, then said,
“Remember—the goal is to lift the stock price. Make sure you get the order of things right. I’ve prepared all I can, so now it’s your turn to work your magic.”
“You don’t need to worry. The ingredients are so fresh I’m already excited about what the final dish will be. But… if we add the final ingredient, you might have to leave DS Construction. Is that all right?”
“I factored that in when I asked you to do it.”
“In that case…”
“Yes. If I stay here, I’ll run into the same trouble we discussed before regarding raising funds. Once I use the rights offering as an excuse to cash out, I’ll need to move somewhere the money can actually work for me.”
Hyun Yi-soo nodded deeply at Jin-hyuk’s words.
“In fact, I’ve been preparing for that as well. Since we think alike, this will make work go much more smoothly. I was a little worried you might not want to leave DS Construction.”
“If I stay here, there’ll be people trying to prove the rumors true. And it wouldn’t make sense for the person brought in to restructure the company to take over as its new head. I’m not that foolish.”
Feeling he’d said all he needed to, Jin-hyuk stood up.
Hyun Yi-soo assured him she’d handle the rest, and saw him off with thanks.
*****
A week after Park Jin-hyuk had passed everything on to Hyun Yi-soo, DS Construction’s extraordinary general meeting was scheduled.
The agenda: a rights offering to overcome DS Construction’s liquidity crisis, to be held in the main auditorium at company headquarters in a week’s time.
As news of the meeting broke, wild rumors swept through the stock market, causing DS Construction’s stock price to swing even more violently.
But by the day of the general meeting, the battered stock price had returned to its original level.
It felt as if the market was holding its breath, waiting to see the outcome.
“Director, the liquidation process is in its final stage. And regarding the plan to take out a loan using your shares in the holding company as collateral, we’ve already made inquiries to several banks.”
Jin-hyuk nodded at Kim Jun-woo’s report.
“And here are today’s headlines.”
The day before, during the general meeting, the entire atmosphere at DS Construction was charged with tension as attendees packed the hall.
The holding company’s shares, the National Pension Fund, and several friendly investment firms all voted in favor of the rights offering, and the proposal sailed through.
But since it was a rights offering to existing shareholders, minority shareholders were stunned, and Park Su-man in particular called Jin-hyuk the moment the meeting ended, shouting down the line.
But the surprises weren’t over.
Right after the meeting, DS Construction announced through the media that, as a sign of responsible management by the owner during the liquidity crisis, Director Park Jin-hyuk would take up all unsold shares if any remained.
The market, already dissatisfied with the rights offering, was left speechless by the news that Jin-hyuk would guarantee all unsold shares.
Jin-hyuk read through the headlines Kim Jun-woo handed him one by one.
[DS Construction’s Extreme Measures to Overcome Liquidity Crisis]
[Eight-Trillion-Won Rights Offering Shocks Market]
[Has DS Group Given Up on DS Construction?]
Most of the reactions were anything but positive.
“The market still isn’t responding favorably to the rights offering for shareholders. The current share price has fallen over 10% and is now in the 9,000 won range.”
“That was to be expected. Now, tell them it’s time to start releasing what we’ve prepared to the market. First, announce that I’m securing 300 billion won using my shares in the holding company as collateral.”
“Yes, understood.”
Since they’d already contacted the banks, it would be clear this wasn’t a lie.
Now, the market would quickly recalculate what Jin-hyuk’s guarantee of unsold shares really meant.
“And tell Deputy Manager Hyun to proceed officially with the Qatar contract. Also, calculate the best date to trigger the clarification disclosure. Make sure to deliver that message—hit the market with everything, one after another, to silence those spreading doubt.”
“Yes, understood.”
Kim Jun-woo bowed to Jin-hyuk and left the president’s office.
Once Kim Jun-woo was gone, Jin-hyuk turned on the TV.
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Hyun Yi-soo, I thought he’s a dude? Also the spelling is different then the previous chapter