Chapter 141: Keep Up That Attitude

Junhwan Han felt himself laughing alone, so he stopped and looked at Jinhyuk Park.

Jinhyuk Park saw that Junhwan Han had stopped laughing and finally brought up the main topic.

“Since you’re bringing this up first, it seems you’re confident that what you’ve prepared will meet my expectations.”

“Of course. I have confidence. The Chairman seemed to be in a hurry, so I managed to get more than I expected. Or was this also part of your plan?”

“I won’t deny it.”

Junhwan Han let out another hearty laugh, saying he figured as much.

Jinhyuk Park felt that having Secretary Hwang deliver the message had worked.

There must have been many rumors circulating around.

In that uncertain situation, hearing the sound of a seal being stamped, it was clear that Chairman Park had overreached to secure Cheongwoo Energy even at a loss.

This was what it meant to have a capable partner.

Even without sitting face-to-face to talk, they could predict each other’s movements based on the situation and adjust accordingly.

In that regard, Jinhyuk Park was confident that Junhwan Han would make a good partner.

The two of them smiled at each other in silence for a moment.

Junhwan Han gestured with his finger to summon the secretary waiting beside him with documents. Taking the folder, Junhwan Han briefly checked it and then handed it to Jinhyuk Park.

“This is a provisional contract. I hear the main contract will be signed with Shin Guk-jeon from DS Heavy Industries?”

“Yes. That’s how it will be.”

Secretary Hwang had tried his best to change Jinhyuk Park’s mind, not just asking but pleading that even if nothing else, he should at least show his face at the contract signing.

But Jinhyuk Park was adamant, and it was decided that Shin Guk-jeon would take the lead until the contract was signed.

Jinhyuk Park reviewed the decision that Secretary Hwang had made with Junhwan Han on behalf of Junman Park.

The content was that they would hand over DS Technology and receive Cheongwoo Energy, with the shortfall replaced by DS stocks.

“You’ve understood my intentions exactly.”

“Yes. I knew you wanted DS, so I acquired what DS needed most and added it on top.”

Jinhyuk Park nodded.

Then he flipped to the next page to check the attached documents.

Junhwan Han verbally explained what was written where Jinhyuk Park’s eyes were scanning.

“And since that alone seemed a bit insufficient, I demanded a stock swap from Chairman Park. With the condition that we act as white knights for each other when either side is attacked. What do you think? Doesn’t this seem like it will be a big help to you?”

“How much have you secured that way?”

“I received 3% to cover the shortfall from handing over Cheongwoo Energy, and another 3% from the white knight agreement, so about 6% total.”

“6% means that aside from you, Chairman, Cheongwoo has become the largest major shareholder.”

“Why are you saying that? Aren’t you there too? You don’t think I believe you’re doing nothing, do you? You’ve been secretly accumulating about 10% or so, haven’t you?”

Jinhyuk Park answered with a smile instead of words.

And with that smile, Junhwan Han seemed to think it was enough of an answer.

“How about it? I plan to give this to Ji-yeon as a wedding gift. Are you satisfied with this?”

“On the flip side, DS will also gain a stake in Cheongwoo. Aren’t you worried? With the shares Han Ji-yeon holds and the shares DS will own, it might be enough to shake Cheongwoo once.”

“Hahaha. I’m looking forward to the day you clean up DS and shake Cheongwoo. But it won’t be easy. Our Cheongwoo isn’t as easy a target as DS. To be honest, you only got this chance because Chairman Park vacated his seat, didn’t you?”

As Junhwan Han said, it was true that he had exploited the opening created by Junman Park’s absence.

If Junman Park had remained perched above headquarters, things might not be going so smoothly.

But Jinhyuk Park didn’t think that was the sole factor determining success or failure.

“I won’t deny it. But even under different circumstances, there would still be a way. Wait and see. After I clean up DS, I’ll shake Cheongwoo once.”

“Indeed. It would be rude to hold a stake that could shake it and not do so.”

Junhwan Han looked at Jinhyuk Park with an expression of delight.

He almost seemed to wish for that day to come soon.

“Then shall we talk about something else?”

“Something else?”

“Yes. How do you plan to compensate us for the loss we incur by handing over Cheongwoo Energy?”

“What do you mean? Loss? It’s us who are taking a loss by handing it over. If we hadn’t intended to grow the defense industry, we wouldn’t have considered giving away Cheongwoo Energy. I don’t think you’re speaking out of ignorance. About the stability of Cheongwoo Energy, I mean.”

Jinhyuk Park could feel Junhwan Han’s expression, which had been smiling moments before, slowly hardening.

And from that changing expression, Jinhyuk realized he hadn’t misjudged.

‘He knows.’

Even without the scenario Junwoo Kim had brought, it was clear that Junhwan Han was aware of the changes at Cheongwoo Energy in some way.

And if not, no matter how much he wanted to do right by Han Ji-yeon, he wouldn’t have handed over Cheongwoo Energy.

Because Cheongwoo Energy was too big and too heavy a thing to be a wedding present.

“You know that debt should be paid off quickly, right? Interest accrues if you let it sit.”

“I don’t know what you’re talking about.”

“You might have been able to deceive our Chairman. Or perhaps our Chairman also thought he would absorb some loss. He may have judged that such a loss was worth bearing. But the scope of the loss has exceeded the bounds of that thinking. Don’t you think we need to recalculate? Surely you didn’t expect this to just muddle through and be finished?”

Junhwan Han’s expression now showed no trace of a smile.

He waved his hand to send both sides’ secretaries out of the office.

Even Junwoo Kim, who had stayed until the end, bowed to Jinhyuk and left. Now, only Jinhyuk Park and Junhwan Han remained in the Cheongwoo chairman’s office.

Junhwan Han picked up the teacup in front of him and took a sip while looking at Jinhyuk.

Jinhyuk Park sat expressionless, waiting for Junhwan Han to speak.

After a moment of drinking tea and organizing his thoughts, Junhwan Han threw a question at Jinhyuk instead of an answer.

“Where did you hear something?”

“Where would I hear anything? Nowhere.”

“Then?”

“I just inferred it.”

“Nonsense. Have I misjudged you? I thought you weren’t the type to make baseless claims.”

“Does my claim sound baseless to you? Then how about this? I’ll go back and oppose the acquisition of Cheongwoo Energy at the board meeting. I plan to mobilize those who follow me to block the approval. Of course, even if I oppose it, the board approval won’t be rejected. But if it becomes known at the general shareholders’ meeting that I opposed the approval, there will be all sorts of talk among the shareholders. And… that will spread to the market. So, what do you think? If, after all this unfolds, what I’m thinking happens, what will Cheongwoo do?”

Junhwan Han’s brow furrowed deeply.

It was something with less than 10% probability, something that might only happen in a science fiction novel.

And it wasn’t out of fear that he was selling Cheongwoo Energy.

It was just a series of coincidences piling up that had led to this awkward situation. Attributing it to Cheongwoo’s fault would be unfair, so he had been denying it all along.

But if that unlikely event actually happened…

And if, as Jinhyuk said, Jinhyuk opposed the acquisition of Cheongwoo Energy…

This couldn’t be dismissed as mere luck.

It would clearly crack trust between the companies, and it would likely leave a major stain on Cheongwoo’s future dealings.

“You wouldn’t do that.”

“Why are you so sure?”

“Because if you do, I’ll break off the negotiations first. Then you’ll lose that 6% stake in DS. Are you willing to go through with that?”

“Are you planning to play tug-of-war with me over that 6% stake? Do I look like I desperately need that 6%?”

Junhwan Han couldn’t decide whether Jinhyuk’s words were a bluff or the truth.

It was hard to call it a bluff when a 6% stake was far from insignificant.

But he couldn’t just ignore it either.

If Jinhyuk really did go that route, Cheongwoo would lose too much.

“Fine. Then what do you want?”

“Are you admitting it?”

“Admitting it? No. I can’t admit it. If such a thing happens, we’ll talk about it then. And even if it does happen, it wasn’t my intention, and it’s DS’s fault for not noticing it.”

Junhwan Han had made up his mind to deny it thoroughly.

Even though Jinhyuk had seemingly caught him by the tail, if he backed down now, he wouldn’t know how far he’d have to retreat.

Junhwan Han decided to grant what was requested but not admit to anything.

“Fine. Don’t forget that attitude. No matter what happens later, you must stick to that position.”

Junhwan Han’s eyes wavered for a moment at Jinhyuk’s words.

“Are you… perhaps aware of something?”

“What I know isn’t important. What matters is your attitude, Chairman. The proposal came from DS first, and Cheongwoo accepted it. The transaction was fair, and both sides maximized their benefits. After it leaves your hands, Cheongwoo Energy has nothing to do with you.”

Jinhyuk Park slowly raised his teacup and looked at Junhwan Han.

Junhwan Han still seemed unable to understand Jinhyuk’s words.

“Is that all you want from me?”

Jinhyuk Park looked at Junhwan Han and realized he was almost there.

Now, he was starting to reach out for something bigger than that 6% stake in DS.

“I’d like you to hand over Cheongwoo Venture Investment as well.”

“Venture Investment?”

Junhwan Han tilted his head at Jinhyuk’s proposal.

He had expected some kind of demand worth considering, but Cheongwoo Venture Investment was completely unexpected.

Most conglomerates owned one or two venture investment companies.

After seeing a few companies hit the jackpot with investments, many had set up investment firms hoping they’d get lucky too.

And DS was among those that had hit the jackpot.

In particular, Jinhyuk Park’s massive returns from Novoro had been a major catalyst.

But making profits through investments was much harder than just watching.

Picking which startup would succeed among countless others was something ordinary judgment couldn’t handle.

Moreover, considering potential losses, a zero recovery rate was a major drawback that made it hard for a company to rashly commit funds.

So most companies set up nominal investment firms but kept them dormant, or only invested small amounts while just watching.

Cheongwoo Venture Investment was no different.

After seeing Jinhyuk, they set up an investment firm and invested in a few places early on.

But since there was no guarantee when the invested companies would succeed or when the investment could be recovered, they just kept the sign hanging and watched the time pass.

Seeing Jinhyuk request such a Cheongwoo Venture Investment, Junhwan Han felt something strange.

“Are you asking us to hand over Cheongwoo Venture Investment to DS?”

“No. Not to DS. I want to acquire it myself.”

“You? Cheongwoo Venture Investment?”

“It’s not just a request. I’m making an acquisition offer. I want to pay a fair market price and acquire it legitimately.”

At Jinhyuk’s words, Junhwan Han quickly ran a mental calculation on Cheongwoo Venture Investment.

But since the company wasn’t even worth 10 billion won, Junhwan Han couldn’t easily recall its details.

To proceed with negotiations, he needed to know what had captivated Jinhyuk, but Junhwan Han couldn’t quite picture that “what.”

Still, Junhwan Han had led a group company for decades.

He wasn’t so careless as to let a lack of information stop negotiations.

“I’d appreciate it if you could tell me why.”

“You know I have an investment company.”

“Are you talking about JH Asset? I hear it’s getting quite good reviews. The overseas businesses you invested in are showing decent results, right?”

“Correct.”

JH Asset’s largest investment wasn’t in Sile Hub.

Most of the funds had flowed into Dongjeong Industries, used to accumulate DS stocks.

But the outside world didn’t know this.

And since Jinhyuk didn’t want it known, he had been covering up the investment in Dongjeong Industries by heavily publicizing the investment in Sile Hub.

“And I want to start investing in earnest. So I’d like to establish a venture investment firm… but I want to avoid the hassle of setting up a new one and meeting establishment requirements.”

“Is that the only reason?”

Junhwan Han looked at Jinhyuk with suspicious eyes.

Having witnessed everything Jinhyuk touched turn to gold over the past few years, Junhwan Han couldn’t take Jinhyuk’s acquisition proposal lightly.

“Then do you think I have another intention? If you don’t like it, you don’t have to accept the deal. There are other options besides Cheongwoo.”

Jinhyuk’s expression was relaxed.

But Junhwan Han’s gaze didn’t change.

“Are there any startups we hold that have caught your eye?”

“I won’t say no. If I’m going to acquire a venture investment firm, it’s better to pick one that holds something worthwhile.”

Jinhyuk wasn’t trying to hide everything.

Because hiding everything wasn’t always the best tactic in a negotiation.

But that didn’t mean he revealed everything either.

If he told the complete truth, Junhwan Han would never hand it over.

Among the startups Cheongwoo Venture Investment had invested in, Jinhyuk had found one comparable to Sile Hub, and he was targeting Cheongwoo Venture Investment to acquire it.

‘As expected, it won’t be easy.’

Even though Junhwan Han still harbored suspicion, Jinhyuk was confident.

From the moment Junhwan Han decided to listen, Jinhyuk felt he had half of Cheongwoo Venture Investment in his hand.