The moment Park Jin-hyuk left Seongbuk-dong, the DS Group’s headquarters Strategic Planning Office was busier than anywhere else.
Everyone had postponed leaving work, rapidly gathering and analyzing the steady stream of incoming information.
“This is information received through a Middle Eastern backchannel. The Prime Minister of Iraq has issued an order for Iraq’s state-run banks to approve loans related to the Basmaya housing project.”
“Currently, the Iraqi state banks, having received the Prime Minister’s directive, say they’ll complete document review before the banks close for the day.”
“Internal sources say it won’t take even half a day after the paperwork deadline for approval. In fact, they’ve suggested we send cooperation requests to domestic banks so that when they transfer the funds to us all at once, there won’t be any transfer delays.”
“This is Iraqi TV news that just aired five minutes ago.”
An employee approached Secretary Hwang’s desk carrying a tablet.
On the tablet, Iraqi news was playing.
“What are they saying?”
At Secretary Hwang’s question, the employee holding the tablet explained.
“It’s a segment about the Basmaya Project, introducing the benefits of the houses there. The news is listing the advantages of the Basmaya area homes almost like an advertisement. It looks like they’re about to officially begin selling homes in the Basmaya region.”
“They must have been frustrated while things were stalled. Why the sudden change? These news items started appearing after the Prime Minister’s order, correct?”
“Yes, that’s right.”
“And the company that made contact with the Prime Minister’s side was Dongjeong Industries?”
“Yes. We’ve double and triple-checked. It was Dongjeong Industries that relayed the message to the Iraqi Prime Minister’s side.”
“This all happened after the Executive Director visited Chairman Lee Jong-mu’s residence in Seongbuk-dong an hour and a half ago, right?”
“Yes, that’s correct.”
“So in the end, the Iraqi government’s push for Basmaya was prompted by Dongjeong Industries, and that push happened because of the Executive Director?”
Secretary Hwang, unable to believe it, confirmed several times before finally standing up.
He headed toward the Chairman’s office, pondering how to explain the current situation to Chairman Park Jun-man.
Knock, knock, knock.
“Come in.”
Chairman Park Jun-man’s voice came from inside.
Secretary Hwang calmly straightened his clothes at the door, then opened it and entered.
Despite it being well past working hours, Park Jun-man remained at his desk, waiting for Secretary Hwang.
“How did it go?”
“It’s been confirmed that the outstanding payment tied up in Basmaya will be released by tomorrow.”
“Are you sure? It will really be released?”
“Yes, I’m certain. The Iraqi Prime Minister has already issued instructions, and the state-run banks are reviewing the documents now. Considering the time difference, approval should be granted after midnight our time.”
“This… Is this even possible? So quickly?”
Park Jun-man raised his hand in disbelief.
Secretary Hwang replied as he watched him.
“It seems the Iraqi side had everything prepared. With the addition of Honorary Chairman Lee Jong-mu’s directive, things are proceeding swiftly.”
Park Jun-man shook his head and set both arms on the desk.
“So you’re saying all this happened after Jin-hyuk went to Seongbuk-dong?”
“Yes. Judging from the sequence of events, it looks like Young Master made a deal with Honorary Chairman Lee using land in the OO district.”
“This is unbelievable.”
Park Jun-man stood up and picked up a whiskey bottle decanting on the right wall.
“Will you have a drink?”
“No, thank you.”
Park Jun-man opened the crystal bottle and poured himself a drink, speaking as he did.
“How did Jin-hyuk know the OO district would become a new city development zone? Even we didn’t know that, did we?”
“I can confidently say that fewer than five people knew in advance.”
“So you’re saying Jin-hyuk was one of those five?”
Park Jun-man turned and sipped his whiskey.
Secretary Hwang couldn’t answer.
No matter how he thought about it, it didn’t seem possible for Park Jin-hyuk to be among those five.
Even if you increased the number to ten or twenty, Jin-hyuk’s name wouldn’t be there.
Even to Secretary Hwang, it was a mystery how Jin-hyuk found out about the OO district.
Park Jun-man wandered his office with his whiskey glass.
Secretary Hwang simply stood quietly, knowing that Park Jun-man was lost in thought.
“By coincidence—did Jin-hyuk just happen to buy land in that area by luck? No, no matter how I think about it, it can’t be a coincidence. Using a hundred billion won from a restructuring company’s funds like that? And then, spreading rumors as if daring others to jump in? On top of that, he even closed a deal with Seongbuk-dong… When I went myself to ask, they didn’t even consider my request.”
Secretary Hwang watched Park Jun-man, who wore an expression of utter disbelief, and offered an awkward smile.
“Maybe because he’s the grandson…”
“You think that old man would care about that? Honorary Chairman Lee Jong-mu?”
No matter how hard he racked his brain, Park Jun-man found himself not just surprised but bewildered by a situation he couldn’t explain.
“He bought that land himself, right?”
“Yes. For a week, he searched for the site chosen for the new city development, accompanied only by his secretary.”
“So did he discover something while he was out there?”
Park Jun-man took a sip and pointed at Secretary Hwang.
“He wasn’t just visiting oddball locations, was he?”
“No, everywhere he visited that week was considered a prime candidate.”
“Right, I figured. It wasn’t some fluke. So he took a gamble, then?”
“It seems that way. Didn’t he say at the presentation that he was going to do a deal with Dongjeong Industries? It appears he intended to use land near the new city development zone as bargaining material. That’s why he went around and bought the most promising site first.”
“Exactly. That gamble paid off… and he used that land to strike a deal with the old man in Seongbuk-dong. That must be it. Still, the more I think about it, the more dumbfounded I am. The fact that the land he staked as his bet ended up in the new city zone and that the gamble succeeded—I still can’t believe it.”
Hearing this, Secretary Hwang approached with the whiskey bottle and poured more into Park Jun-man’s glass.
“That’s what gamblers are like, aren’t they? And when they pull off feats like that, they get called gamblers for a reason.”
“Gambler? Did Jin-hyuk always have that gambler’s instinct?”
“The result speaks for itself. The young master is a true gambler.”
“Really? A gambler…”
As Park Jun-man nodded in acceptance, a knock sounded on the door.
Knock, knock, knock.
“Come in.”
The door opened, and a staff member from the Strategic Planning Office entered cautiously and handed something to Secretary Hwang.
Secretary Hwang glanced at the note and looked at Park Jun-man with a surprised expression.
“What’s going on?”
“There’s been contact from Seongbuk-dong to Daeyang Law Firm.”
“To Daeyang? Dongjeong Industries has its own in-house legal team—why use an outside law firm… Could it be?”
Park Jun-man trailed off, staring at Secretary Hwang.
Secretary Hwang nodded.
“Daeyang Law Firm manages the assets of Honorary Chairman Lee Jong-mu and the group owner’s family. Judging by the circumstances, it looks like the young master will be… given shares…”
“This is insane. The old man must be determined.”
“Surely the young master isn’t planning to choose Dongjeong Industries, is he?”
Park Jun-man shook his head at Secretary Hwang’s question.
Staring out at the darkness settling outside the large window, he spoke.
“If he’d already chosen Dongjeong Industries, the old man wouldn’t be moving so fast. He’s only doing this because no choice has been made yet.”
“Chairman, shouldn’t we prepare as well? If things keep going this way and the young master actually picks Dongjeong Industries, it would be a disaster.”
“You’re right. Put Jin-hyuk’s name on the official list for the annual personnel appointments.”
“Yes, understood.”
Secretary Hwang beamed as if it were his own business.
Park Jun-man smiled back, speaking to himself.
“So Jin-hyuk’s a gambler, huh…”
With an intrigued expression, Park Jun-man sipped his drink while gazing at the darkness outside the window.
*****
Meanwhile, Hyun Yi-soo and the people in the Restructuring Headquarters were so busy dealing with the Basmaya receivables that they couldn’t even go home.
Park Jin-hyuk, seeing their efforts, cheered them on before entering his office.
Hyun Yi-soo quickly followed him inside, exclaiming in amazement.
“Director, you really pulled it off!”
“What’s the big deal?”
“It’s not just that you solved the problem—you agreed to sell the OO district land for double the price we bought it for! I was shocked when I first heard.”
“Isn’t the situation different now? Back when we bought the land, nobody knew which area would be the new city development, but now it’s different. If the situation has changed, the price should change too, shouldn’t it?”
“This clears the blockage in one go.”
“Now that the biggest problem is solved, restructuring will pick up momentum, right?”
“Yes. We plan to significantly increase the severance pay for voluntary retirement. Initially, we were going to pay 24 months of salary, with 36 months for longer tenure, but with the Basmaya receivables and the OO district land sale proceeds, we can offer a flat 48 months to everyone.”
Hearing this, Park Jin-hyuk looked regretful.
“There’s no choice but to go ahead with the voluntary retirements, is there?”
“We could stop after trimming executives and senior managers, but that would weaken the meaning of restructuring. So for all ranks below middle management, we’re planning voluntary retirements.”
“Well, a restructuring without workforce cuts could be seen negatively. Proceed as planned. But don’t force the teams to cut people. Only those who want to leave should go.”
“Yes, sir.”
Having experienced a so-called “voluntary retirement” himself under Yoo Jeong-geol—a retirement in name only, really a forced resignation—Park Jin-hyuk couldn’t hide his regret.
Just then, after a knock, Secretary Kim entered.
“Director, representatives from Daeyang Law Firm are here.”
“That old man! I told him he could just send the documents, but he must have sent people over as soon as he got to work. Deputy Hyun, please handle things carefully, check that the money comes in as promised. You never know, the old man’s sly—he might withhold payment!”
At Park Jin-hyuk’s joke, Hyun Yi-soo laughed and nodded before heading out.
But Secretary Kim didn’t leave with him, instead giving Park Jin-hyuk another report.
“Director, the people from Daeyang Law Firm specifically requested to meet you.”
“Me? Tell them I’m not needed for the land transfer. They can just speak with Deputy Hyun, there’s no need for me to be involved. Why do they want to see me?”
“They said they’re here on behalf of Chairman Lee Jong-mu of Dongjeong Industries, not for the land.”
“What could this be… Send them in.”
Other than the OO district land, Park Jin-hyuk couldn’t think of any reason for Daeyang Law Firm to visit him, so he let them in with curiosity.
Six lawyers from Daeyang Law Firm entered and greeted him.
Park Jin-hyuk asked them to sit and inquired why they’d come.
Each began taking documents out of their briefcases.
“What’s all this? You said you came at the request of Chairman Lee Jong-mu—my maternal grandfather?”
“Yes. Chairman Lee Jong-mu has instructed us to transfer 3% of his shares in Dongjeong Industries to Executive Director Park Jin-hyuk. He specifically told us to visit you before any articles are published, so we came early this morning.”
“What? What did you say?”
One of the Daeyang Law Firm lawyers sitting nearby handed Park Jin-hyuk a document.
As he read it, the lawyer explained.
“Currently, Dongjeong Industries has a market capitalization of about 3 trillion won. At today’s closing price, Chairman Lee Jong-mu plans to transfer 3% of his 25% stake to Executive Director Park Jin-hyuk. Assuming no major changes today, the transaction amount will be approximately 90 billion won, and these are the related tax items—here, you can see for yourself.”
Park Jin-hyuk stared at the densely printed numbers and letters.
The main point, aside from the details, was that Lee Jong-mu was giving him shares in Dongjeong Industries.
He thought he should urgently call Lee Jong-mu, but before he could, one of the lawyers handed him a phone.
“It’s the Chairman.”
Park Jin-hyuk glanced at the lawyers, who seemed to have predicted his next move, then picked up the phone.
“Hello?”
“Yes, it’s me. Did you sleep well?”
“What is this? They’re saying you’re transferring me stock…”
“Haven’t you seen the news?”
“The news?”
The moment Park Jin-hyuk said “news,” a lawyer sitting beside him handed over a tablet.
Keeping the phone to his ear, Park Jin-hyuk accepted the tablet and checked the contents.
A freshly published article was displayed on the screen.
[The Complicated Succession Structure of Dongjeong Industries]
“I told you there would be an article this morning, didn’t I?”
“This…”
Park Jin-hyuk tried to speak but found himself suppressing a laugh. He switched the phone from his left to his right ear.
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