Chapter 70: The Shadow King’s Hand

Of the two people who wore stunned expressions, Secretary Kim was the first to regain composure.

Secretary Kim smiled in satisfaction.

“You managed to grow your money again in the meantime?”

That short exclamation contained a lot of meaning.

Only then did I realize why Secretary Kim had been so surprised.

‘Secretary Kim has already investigated my financial situation before.’

When I was running around trying to buy a house, we only had about 10 million won to our name.

And yet, now I suddenly had deep pockets, claiming I was investing 1.5 billion won in a major bank, so of course it was shocking.

“Heh...!”

But President Shim of Taeseong Chemical couldn’t hide his reaction.

He muttered in a half-dazed voice.

“You’re saying you’ve teamed up with the bank to buy over 103,000 pyeong of land near the subway station?”

“I have the money and the information. Why wouldn’t I buy?”

I shrugged.

“It’s obvious the land prices will skyrocket, so not buying would be foolish.”

“You’re aiming for several dozen times the profit within a few years, so you set up an investment company... Heh, and with that you’re planning to acquire Yukoong... Heh heh heh.”

President Shim seemed so flabbergasted that he was lost for words.

He looked over at Secretary Kim.

“Secretary Kim, how old is the young master this year?”

“He just turned eight.”

At that, President Shim let out a deflated laugh.

“Eight years old, huh... The young master who’s only just turned eight is running a 1.5 billion won investment company, speculating on land and laundering money... Who is it?”

President Shim’s face turned somber.

“I’m asking, who’s behind the young master? Is it Young Master Sungjun? Or Madam? Or perhaps even the Chairman?”

Secretary Kim’s expression turned complicated.

He looked at me, as if struggling to figure out how to explain.

I couldn’t help but chuckle.

“Right now, I think where you decide to go from here is more important than who’s behind me, President Shim.”

“Hmm.”

President Shim stroked his chin, then spoke.

“Young master, your plan to make money by buying up the land near the subway station will certainly be a huge success. The investment company, with its perfect money-laundering capabilities, will make a fortune too. But it’s not enough.”

President Shim shook his head.

“To acquire Yukoong, you’d need at least 400 million dollars.”

That’s right, that would be the case if this was before the oil shock.

“First of all, Gulf Oil owns 50% of the shares. It would cost about 200 million dollars just to buy their stake at market price.”

But when the oil shock hits, Gulf Oil will end up selling their shares for cheap.

Would you believe that the purchase price for Samhwang Refinery’s acquisition of Yukoong was only 100 million dollars?

But back then, nobody had dollars, so all they could do was sit on their hands.

“Would the government easily transfer Yukoong to a private company? Petroleum, the backbone of the country, is literally a cash cow.”

Exactly. And yet, they did transfer it.

The pressure from the UK and US’s neoliberal policies after the oil shock was enormous.

With the mountain of debt ballooning due to oil, the government couldn’t shoulder it at the national level.

So, they dumped it on the private sector, so that if it failed, it would fail at the company level, not the national level.

“Even if we assume the government gives up its share, you’d still need at least 200 million dollars for the project. How do you plan to cover the shortfall?”

“I plan to raise a loan from Saudi Arabia.”

“From Saudi Arabia? A loan?”

President Shim was stunned into silence, his expression positive as he mulled it over.

His eyes lit up as he raised his head.

“Is it possible?”

“Did you forget? My father is building a city near Jubail Commercial Port in Saudi Arabia. The construction contract alone is worth 100 million dollars.”

“Ah, the Jubail industrial port city project!”

I nodded.

“My father’s construction projects in the Middle East aren’t just limited to Saudi Arabia, you know?”

“I’ve heard. Young Master Sungjun has secured massive projects all over the Middle East.”

“The Middle East is overflowing with oil money, but the infrastructure is terrible.”

“Then does that mean you could win even more contracts?”

President Shim caught on immediately.

“My father has already established a reputation for reliability by successfully completing one project after another in the Middle East.”

“I see. I’ve heard the Middle East is such an exclusive society that foreigners have a hard time entering. Even Samhwang, Ugwang, Hyeonmu, and Geumjo have all failed there, right?”

“What matters most in the Middle East is performance and credibility.”

“If Taeseong Construction has already proven itself with results and trust, then it’s in a great position to attract oil money from Saudi Arabia or other Middle Eastern countries.”

Exactly!

“Now that my father is in charge of Taeseong Construction, he’s also taking on the Subway Line 2 project and the Gangnam Seoul Express Bus Terminal construction. What about the Middle Eastern projects?”

“As luck would have it, the Taeseong Chemical executives have transferred over to Taeseong Construction!”

President Shim grinned.

“Those guys are far more capable and diligent than expected. They’ve been in construction for a long time and really know their stuff.”

Of course.

The Taeseong Chemical executives are my grandfather’s long-time loyalists.

Grandfather built his conglomerate from cement and construction.

So they’re all people who struggled through hard times, rolling up their sleeves in cement and construction.

“Right now, most construction in the Middle East is given to American companies, right? But their costs are so high compared to Korea, and they’re always late, unable to meet deadlines. There’s a lot of dissatisfaction, so I’ve heard they’re looking for new partners.”

The Middle East construction boom that swept Korea in the 1980s.

Korea landed many projects by boasting fast construction, low costs, and still decent quality.

At one point, nearly 85% of Korea’s foreign currency income was Middle Eastern money.

“After monopolizing oil, the Middle East is focused on building cities. But they still don’t even have proper irrigation canals or highways. There’s a mountain of construction to be done.”

“That’s right. Just winning one road contract can net you 20, no, 30 million dollars.”

President Shim’s mind was spinning fast.

“If you have one 100-million-dollar Saudi contract, and you seize other Middle Eastern projects during the construction boom… This just might be possible.”

President Shim clenched his fist.

“If Young Master Sungjun has built such a strong foundation in the Middle East, those guys will see the projects through.”

A smile crept onto President Shim’s face.

“How do you think those guys made it to executive positions? They’re experts at sales too. I’m sure they’ll show the Middle East what Korean-style salesmanship is all about.”

Korean-style salesmanship, huh.

Will they try handing out Bacchus drinks to win contracts in the Middle East?

“I believe everyone will help my father successfully complete not only the subway construction but also the Middle Eastern projects.”

“Of course. Absolutely. That’s how it should be.”

“So? Do you like the way things look now?”

“Of course. I’m more than satisfied.”

President Shim laughed heartily.

“Couldn’t ask for more. I was actually worried there might be power struggles with the original Taeseong Construction staff. But if they return after accomplishing great things overseas…”

“They’ll be promoted.”

Demotion and promotion are two very different things.

“Results are ability, and if you achieve great things, you deserve recognition. They’re not losers begging for a lifeline at Taeseong Construction after Taeseong Chemical gets handed over—they’ll be national heroes, bringing in foreign currency from the Middle East.”

“Excellent. A perfect scenario where no one is left disappointed.”

President Shim nodded again and again, deeply satisfied.

“To be honest, I was a bit upset, wondering if Young Master Sungjun had ruined his future by giving up everything for a woman.”

President Shim is one of my father’s chosen men.

He built up Taeseong Chemical to support my father and managed his slush fund and stocks.

But when Father refused the arranged marriage with Ugwang, Taeseong Chemical that he’d worked so hard to build was snatched away.

He may not say it, but it must have hurt.

President Shim’s smile looked a bit bitter.

“But now I see you were thinking of us all along. You arranged for the Taeseong Chemical executives to achieve great things in the Middle East... I can only admire you. I really did choose the right person to follow.”

Before I knew it, President Shim was smiling freely.

“Thanks to you, I can retire now without any regrets.”

Wait, is he serious?

He wants to retire just because he can’t follow my father?

That can’t happen.

“What about me?”

“...Pardon?”

I tapped the investment agreement I’d made with Teacher.

“Did you forget my offer, President Shim? The investment company.”

President Shim’s eyes widened.

-This isn’t betraying my father, or switching to another uncle’s side, or turning my back on Grandfather or Taeseong.

-Opportunities always come. Only those who prepare in advance can seize them. That’s why I’m setting up an investment company—to be ready for that time.

President Shim slapped his forehead.

“The big picture! Taeseong’s future! Preparing for the acquisition of the oil company! The great plan for Young Master Sungjun’s future!”

“Exactly. Could I trust something this important to just anyone? You’ll help me, right?”

President Shim’s eyes trembled as if an earthquake had struck within.

I held out my hand.

“Take my hand. Then, when the time comes, I’ll let you choose your own path.”

“A choice?”

“If we successfully acquire Yukoong, I’ll let you pick where you want to go: the investment company, the oil company, or Taeseong Chemical. You can go wherever, or follow whoever, you wish.”

“...Wait a minute, young master. I get the investment company and the oil company, but why is Taeseong Chemical in there?”

Shim hung his head.

“Taeseong Chemical has already been promised to Ugwang. It’s a real pity. If I’d realized Young Master Sungjun’s plans started with construction... I wouldn’t have let Taeseong Chemical slip away so easily. Sigh...!”

President Shim squeezed his eyes shut.

“If Young Master Sungjun had managed to acquire construction, oil, and chemicals, you might have had a shot at being the next head of the family... But because I handled things so foolishly...”

“I haven’t given up on Taeseong Chemical.”

“...Pardon?”

President Shim’s eyes shot open.

But then he chuckled softly.

“I understand you had no choice. You couldn’t have protected your family if you didn’t let go of Taeseong Chemical. I just meant…”

“I’m going to snatch Taeseong Chemical back from Ugwang.”

“...What?”

That will be my mother’s job.

So she’ll never be criticized for losing Taeseong Chemical.

I plan to attach it as part of my mother’s dowry.

But both President Shim and Secretary Kim shook their heads frantically, looking dumbfounded.

“Young master, that’s impossible. Chairman Kim of Ugwang Group isn’t someone to be taken lightly.”

“The chairman had no other choice but to hand over Taeseong Chemical.”

They were all insisting it was impossible.

How do I even explain this?

“Want to make a bet?”

Why are they so shocked?

This is much simpler than acquiring Yukoong.

“The loser has to grant the winner one wish. What do you say?”

---

After letting Jeonghyuk go inside first,

Shim Woncheol banged his head against the garden wall.

Thunk!

Secretary Kim was startled and grabbed Shim Woncheol.

“President Shim, what are you doing?”

“Secretary Kim, I feel like I’ve been possessed by a ghost. No matter how I look at it, I must have lost my mind.”

Shim Woncheol wore a half-dazed look.

“Before I knew it, I’d signed and stamped the employment contract.”

Only then did Secretary Kim let go of Shim Woncheol.

“What the heck is with that coin pouch? You saw it too, right? Not just the chairman’s memorandum and the investment agreement, but even the pre-written employment contract came out of there!”

Shim Woncheol wiped his face.

“Jeonghyuk said there’d be a recruitment war for me today. Secretary Kim, did you get any separate word about this from the chairman?”

“No.”

“Would Young Master Gijun really offer me such a proposal?”

“I’m not sure.”

Secretary Kim smiled gently.

“But does it really matter now? You’ve already made your decision, President Shim.”

“That’s true. But honestly, how can you trust the words of an eight-year-old...”

At that moment, a group of people entered the mansion at Pyeongchang-dong.

At the front, a man in his thirties with a smile drawn on his lips and squinting eyes.

“President Shim, I hear Taeseong Chemical is being handed over to Ugwang?”

“Young Master Gijun.”

It was Cha Gijun, the second son of the chairman and president of Taeseong Distribution.

“So, what do you think? As it happens, I have a good—”

“I refuse.”

It was such a firm answer.

For a moment, the smile always on Cha Gijun’s lips froze.

But then Cha Gijun smiled even more softly as he asked,

“How do you know what kind of proposal I was going to make that you turn me down so quickly?”

“The Taeseong Trading overseas branch, isn’t it? Covering the US, UK, and Germany.”

“...!”

Cha Gijun’s eyes widened.

But, what’s this?

Even Shim Woncheol looked at him with round eyes.