It had been a long time since the DS Construction conference hall was this packed.
There were executives who’d managed to hold onto their positions through the recent restructuring, those newly promoted to executive posts, and managers reassigned to different teams.
All of DS Construction’s major executives had gathered in one place.
Unlike before, they were now having a far more animated discussion about DS Construction’s present and future.
“Currently, our overseas order backlog has already surpassed this year’s target thanks to the Qatar Ruyl Project. With the Qatar project as a starting point, it looks like we’ll be able to secure additional construction projects, so we don’t foresee any issues with next year’s overseas business. Domestically, in addition to existing DS Group projects, we’re bidding for government-led projects, aiming to increase our order backlog further.”
Tap tap tap tap.
While the presenter up front was sweating bullets, working hard to explain, Park Jin-hyuk, the main person meant to hear it, merely spun a pen around his finger and tapped the table in deep thought.
What had put him in such a pensive mood was the incident in Pyeongchang-dong a few days ago.
It was a seemingly simple incident, yet it had so firmly lodged itself in his mind that he couldn’t focus on anything else.
‘Daekwang Group’s second daughter?’
On his way out after paying respects at his late mother’s memorial in Pyeongchang-dong with Onsan-daek, he had run into Oh Seo-young.
Though she always avoided Park Jin-hyuk on his mother’s memorial day every year, that day she appeared as if she’d wanted to cross paths with him.
And the woman she introduced to him, wearing a smug expression right in front of Park Jin-hyuk, was none other than Jung Chae-yoon, Daekwang Group’s second daughter, who claimed she’d soon be engaged to Park Sang-hyuk.
With a price tag of a billion above her head, Jung Chae-yoon, if stripped of her Daekwang Group title, was an otherwise ordinary woman.
But it was her seat in Daekwang Group that ensured she was anything but ordinary.
‘The issue is Daekwang Group itself. Sang-hyuk is getting engaged to their second daughter? So quickly? Why? What’s the reason?’
Tap tap tap tap.
Daekwang Group was a fashion-focused company ranked around 30th in the business world.
Compared to DS, it lagged far behind, but as a company with only daughters, much like Dongjeong Industries, it made sense to expect things after marriage.
Besides, since Daekwang ran fashion and brand businesses—a sector DS was weak in—it seemed plausible that the engagement aimed to create synergy.
Yet, it felt like there was still something missing.
Park Jin-hyuk couldn’t shake the sense that Oh Seo-young wouldn’t have laid out such an easy riddle, which was why he was now so troubled.
He’d known that Oh Seo-young would back Park Sang-hyuk by attaching him to a powerful in-law family, but he hadn’t expected it to happen so fast.
The way Sang-hyuk had picked out a fiancée and brought her home within just a few months was starting to make Jin-hyuk anxious.
As the meeting wrapped up, Park Jin-hyuk called over Hyun Yi-soo and three team leaders.
He told them what he’d seen in Pyeongchang-dong and gave them instructions.
“Look into any recent moves between Daekwang and us, and report back. I’ve got a bad feeling. It doesn’t look like the engagement is for love—they seem to be doing it for mutual benefit… I need to know how that might affect me. Please look into it quickly.”
Hyun Yi-soo nodded at Park Jin-hyuk’s words.
“You’re right, sir, something doesn’t add up. They say marriages between companies’ children are often business deals, but even so, it feels like Assistant Manager Park Sang-hyuk’s case is unusually rushed. You haven’t even gotten engaged yet, and your younger brother is already proceeding? It’s strange.”
“That’s why I’m asking you to look into it. Please.”
“Yes, understood. Don’t worry. I’ll get right on it.”
With Park Jin-hyuk’s orders, Hyun Yi-soo and the team leaders set off busily.
They began checking through their networks for any points of contact or unusual activity between Daekwang and DS.
Several days later, Hyun Yi-soo and the team leaders each brought their findings to Park Jin-hyuk’s office.
“Sir, just as you suspected, we’ve found signs of unusual activity.”
“What kind of unusual activity?”
At Jin-hyuk’s question, Hyun Yi-soo took a file from Kim Jin and placed it before him, beginning to explain.
“A short while ago, Daekwang abruptly announced their entry into the aviation business.”
“Daekwang, in aviation? Isn’t the aviation business highly regulated? I thought you couldn’t just decide to enter it.”
Isn’t it said that your perspective changes with your seat?
Living as the son of a conglomerate head for a few months, Jin-hyuk had naturally absorbed knowledge he neither knew nor cared about in his Yujeong-geol days.
He spoke as he glanced through Daekwang’s aviation investment plan that Hyun Yi-soo handed over.
Hyun Yi-soo pointed to the business field written in the documents.
“You’re right. For major airlines, even if you want to launch a new company, you won’t get registration. But Daekwang isn’t targeting major airlines—they’re going after the low-cost carrier sector, known as LCC. Things are a bit different there.”
“How are they different…?”
“For LCCs, since they mostly operate short-haul flights, as long as your business plan and capital are solid, it’s not that hard to get a license. Right now, there are six low-cost airlines domestically, and the Ministry of Land, Infrastructure and Transport is set to pick a seventh soon. Daekwang has already submitted their application for this seventh slot.”
“But Daekwang grew as a fashion company. Is there any reason for them to suddenly launch a budget airline?”
“Because the low-cost aviation market is still new and unsaturated.”
“A new market, you say?”
Jin-hyuk didn’t quite understand.
He knew that major airlines were losing money all over the world, so Hyun Yi-soo’s claim didn’t quite resonate.
But then Kwak Seok-ki opened the materials he’d prepared to back up Hyun Yi-soo’s claim.
“These are the results for budget airlines that entered the market ahead of Daekwang. While the major airlines are performing terribly, LCCs are showing significant results, especially with steady growth. The latest trend in the airline industry is high-frequency, low-fare, short-haul routes. By focusing on short-haul, companies can simultaneously reduce costs and grow profits—Southwest Airlines proved this first, and many other budget carriers have followed suit.”
The performance charts Kwak Seok-ki showed clearly displayed LCCs outperforming major airlines.
Park Jin-hyuk tore his gaze from the charts and looked around at Hyun Yi-soo and the others.
“I see. But how is this related to the engagement?”
Hyun Yi-soo answered.
“From our investigation, it appears that Daekwang alone would have a hard time entering the LCC market. They might be ranked 30th among conglomerates, but they don’t have the liquid assets to purchase or lease a fleet all at once.”
“So you’re saying that, using Sang-hyuk’s engagement as a pretext, Daekwang and we could launch an airline together?”
“There’s a high possibility. Even if it’s not a joint venture, we could act as investors—but one way or another, it seems nearly certain that DS and Daekwang will join forces to enter aviation.”
Park Sang-hyuk recalled Oh Seo-young’s smug face at the Pyeongchang-dong front door.
With Daekwang having only daughters, it wasn’t out of the question for Sang-hyuk to become the actual owner of the new airline.
Daekwang was probably factoring that in when they roped in Sang-hyuk, and Park Jun-man likely agreed to the engagement for the same reason.
While Jin-hyuk pondered, Hyun Yi-soo cautiously spoke.
“I’ve heard that Assistant Manager Park Sang-hyuk will be promoted to executive in the upcoming New Year’s greeting.”
At those words, Park Jin-hyuk’s eyes, which had been cast down, snapped up.
“An executive? Sang-hyuk’s only been with the company a few months. They’re already pinning an executive badge on him?”
“It seems they intend to put him forward as DS’s representative in the new business with Daekwang.”
Even knowing that Oh Seo-young was pushing Sang-hyuk from behind, Jin-hyuk couldn’t help but feel an increasing sense of urgency at how quickly Sang-hyuk’s standing was rising in the company.
Though there was still a sizable gap between them, if Oh Seo-young and Sang-hyuk’s in-laws continued to push, that gap could close rapidly.
Jin-hyuk wasn’t the only one who sensed this.
While investigating Daekwang, Hyun Yi-soo also realized that the DS succession battle was entering a new phase.
“Sir, I think we need to make our own preparations.”
“If you have any good ideas, let me hear them.”
Park Jin-hyuk straightened in his chair, ready to listen.
Park Sang-hyuk had the support of his doting mother and a powerful in-law family.
But Park Jin-hyuk had no such backing.
All he had were the people in front of him—Hyun Yi-soo, the three team leaders, and Kim the secretary at the back.
He readied himself to hear whatever suggestions his side could offer.
“The solution we’ve come up with over the past few days boils down to two options.”
“Go on.”
Hyun Yi-soo, seeing Park Jin-hyuk composed and ready to listen, began to lay out their plan with sincerity.
“First, you could establish your position here at DS Construction. As you know, DS Construction’s annual revenue is at 2 trillion won. The Basmaiya receivables have been settled, and the capital increase is proceeding smoothly. If we use the added capital to expand the Qatar project, it shouldn’t take long to reach 3 or even 4 trillion in annual revenue. With that kind of performance, you could create a new subsidiary and prop it up as a major pillar of the group.”
“How long is ‘not long’?”
“About five years. Maybe three or four if we’re quick.”
Park Jin-hyuk nodded, but couldn’t hide the darkening look on his face.
Doubling a company’s revenue in three or four years was extremely fast.
Especially when talking about trillions, not mere millions or billions—such growth would be considered record-breaking.
Hyun Yi-soo believed it was possible, and so did Park Jin-hyuk.
But for Jin-hyuk, three or four years still felt too long.
To bring him down with a newly winged Sang-hyuk at the fore, those three or four years might be exactly what Oh Seo-young was hoping for.
Sensing this, Hyun Yi-soo continued with their second proposal.
“The first method is stable and reliable, but time is not on our side. So we have a second idea. That is for you to take over one of the vacant DS Group subsidiaries.”
“Please explain in detail.”
“As you know, DS Group stands on seven major pillars. Telecommunications is in the hands of Vice Chairman Park Su-man, and Electronics is controlled by your fourth uncle, President Park Kyung-man. The chairman directly manages finance, heavy industries, and chemicals—the group’s origin and lifeblood.”
At this, Park Jin-hyuk recalled President Park Kyung-man.
Kyung-man, who’d dodged the first monthly executive meeting with an overseas business trip excuse, had finally appeared before Jin-hyuk at the second.
Unlike Park Su-man, who pretended to know him in front of others, Park Kyung-man had openly ignored Jin-hyuk from the start.
His rudeness could have been offensive, but Jin-hyuk actually preferred this kind of attitude.
Kyung-man had a “2 million” over his head, same as Su-man—so Jin-hyuk could just ignore him in return.
Now, recalling the one remaining pillar, he spoke to Hyun Yi-soo.
“Then you’re suggesting I should take over the pharmaceuticals division?”
“Yes, exactly. If waiting for DS Construction to grow is too slow, why not just swallow up a big, already-established subsidiary?”
“Pharmaceuticals. Pharmaceuticals… pharmaceuticals…”
Jin-hyuk fell silent, mulling over the suggestion.
Pharmaceuticals was a field he knew nothing about.
All he really knew was that “bio” was a buzzword lately and lots of companies were rushing in.
He wasn’t sure if he could take over and run a subsidiary in such an unfamiliar field.
“Sir, I know what you’re worried about. But don’t be. It’s no different from construction. In fact, it might be even easier than when you started construction under much harsher circumstances. And you have us, don’t you? With us at your side, taking over DS Pharmaceuticals won’t be a problem.”
Knowing Jin-hyuk’s concerns, Hyun Yi-soo offered these words to boost his confidence.
But even after hearing them, Park Jin-hyuk didn’t change his expression. Arms folded, right hand stroking his chin, he sank into even deeper thought.