Hyun Yi-soo could not understand what Park Jin-hyuk was thinking. No matter how he looked at it, a company like Silhub did not seem worthy of a fifty-million-dollar investment.
However, putting his own thoughts aside, if he assumed the premise that Silhub was worth such an investment, it was a far better decision to place it under the investment firm Jin-hyuk was creating rather than under a DS subsidiary, just as Jin-hyuk had said.
“That is correct. And if that is the case, you must not accept investments from anywhere else,” Yi-soo said.
“What? Are you saying I shouldn’t take investment from other sources?” Na Min-ho asked.
“Yes. You will not be able to receive outside funding. If you need capital, you should speak with our investment firm’s management team to arrange a new round. In other words, all investments must be handled exclusively through the Executive Director’s investment firm. Is that acceptable to you?”
Na Min-ho turned his head to look at Park Jin-hyuk after hearing Yi-soo’s words. It felt like the question of whether it was acceptable should be directed at Jin-hyuk, not him.
“It’s fine with me, but… are you really going to be okay with this?” Min-ho asked.
“Why? Do you think I’m pouring money into a bottomless pit?”
“I won’t say you aren’t. While it’s fine for me to have a stable parent company that can continuously provide capital, are you truly okay with this, Executive Director? If things go wrong, you might just keep investing and never get anything in return.”
Park Jin-hyuk laughed loudly at Na Min-ho’s words.
“Hahaha. Have some confidence in your own company. Do you think I would invest so recklessly without anything to trust? And fifty million dollars. It is a lot of money, certainly. But I am not the kind of person who is broken by that amount of money.”
Na Min-ho once again felt that Jin-hyuk lived in a different world than his own. Sixty billion won in Korean currency. Most people would close their eyes for the last time without ever even seeing six billion won in their lifetime. Even for the son of a president of a medium-sized enterprise like himself, sixty billion won was an amount so large he had never even laid eyes on it.
Yet Park Jin-hyuk was saying it was fine if that amount of money disappeared. Jin-hyuk lived in a reality different from that of ordinary people.
“And with the continued investment, I will naturally demand something in return. Equity. If you need more money, my stake will grow accordingly. How about it? It isn’t a bad deal for you, is it, Mr. Na?”
“It’s not a bad deal, but…”
Na Min-ho had achieved the result he wanted, but he was merely bewildered. He could not shake the feeling that he was the one committing a scam. Park Jin-hyuk looked at the dazed man and smiled.
“It’s alright. That’s enough for today. Go on home, and we’ll start drafting the contract properly tomorrow. How does that sound?”
“Yes. Understood.”
Na Min-ho bowed to Jin-hyuk and carefully stood up. Before heading out, he looked back at Jin-hyuk once more. Jin-hyuk laughed again at the sight.
“I am not joking, so go home and get some rest today. We will sign the formal contract tomorrow.”
Only then did Na Min-ho realize this was all reality. He bowed ninety degrees to Jin-hyuk and walked out the door, looking completely elated. Jin-hyuk chuckled as he watched him leave.
“Isn’t he charming? He came here to get an investment, and now that he’s actually getting it, he’s that happy. He even asked me if I was okay after I told him I’d invest more than he expected… I wonder if I ever had a time like that.”
“Executive Director. Are you truly okay with this?”
“With what? Ah, does Silhub look that bad to you?”
“I simply cannot understand it. I don’t see what kind of profit you can gain from this company. They talk about privacy and creating special spaces for corporations to generate revenue, but I can’t find myself nodding along. There is a saying that the way a business makes money should be simple. Currently, Silhub doesn’t fit that description at all. What kind of significant profit can be made from something like this?”
“This is exactly the problem with our DS Group.”
Park Jin-hyuk crossed his legs and took out a cigarette.
“Do you know what I felt while sitting at the very top of the DS Group? It was that the company has aged too much. It’s old. It’s senile.”
Hyun Yi-soo rolled his eyes, trying to grasp the meaning behind Jin-hyuk’s words. As he said, the company’s history was long compared to others. However, Yi-soo didn’t think that was necessarily a bad thing. It was because they were that old that the company could grow into a conglomerate.
But Park Jin-hyuk did not think so.
“What are the fields we have entered? Heavy industry, chemicals, construction, and telecommunications… We seem to be balancing things out with pharmaceuticals, department stores, and hotels, but in the end, those first four account for the majority of our group’s revenue. But think about it. Now that oil prices have dropped, what happened? Heavy industry and chemicals are failing. Construction is the same. As for telecommunications… I see no growth potential. It’s old and worn out, failing to respond properly to the changes in the world.”
“Do you believe we need to change the group’s fundamental structure?”
“No. Not exactly. You can’t just change the fundamental structure. And that is a reckless challenge. I don’t like those kinds of gambles.”
“That is a relief. I was surprised for a moment, thinking you were trying to change the entire future of DS.”
“A company has a personality, much like the traits inherited by humans. And I know well that in a place that has firmly established its domain, like a conglomerate, that personality is engraved even deeper. We are second-gen industry. That is etched into the group’s DNA.”
Hyun Yi-soo agreed with Jin-hyuk’s words. Since the company was founded on the basis of second-gen industries, it was safe to say the group’s overall direction was specialized for that sector.
“Do you know the mistake made by companies that flourished through such industries? They look down on innovative technology.”
“No, that can’t be. Look at our telecommunications or…”
“What is our position in telecommunications? We set up base stations, attract customers, and sell phones, right? How is that different from second-gen manufacturing?”
Hyun Yi-soo could not say a word in response to Jin-hyuk’s point. When he thought about it, they had merely placed the name of the telecommunications business over what was essentially no different from a manufacturing business that produced and sold goods.
“People think that industries where young people sit and tap on keyboards without producing physical goods are worthless. Isn’t that right?”
That was exactly what Hyun Yi-soo had done just moments ago. Since the product Silhub created was invisible, he dismissed it as insignificant and believed it lacked profitability. Knowing his own thoughts, Yi-soo could not offer a counterargument.
Park Jin-hyuk realized Yi-soo understood his point even without an answer, and he began to voice his thoughts.
“But the trend of the times is flowing in this direction. These kinds of companies will be the ones earning trillions or tens of trillions in the future.”
Jin-hyuk picked up Silhub’s company profile again. To an ordinary person, it was a business that seemed to have no profitability. However, in Jin-hyuk’s eyes, it was a company showing a value of twenty trillion. He believed they had to take hold of this to continue the group’s growth.
“As I said earlier, we can’t change the group’s fundamental structure. We can’t just liquidate all the companies focused on second-gen industry and jump into new businesses all at once. Instead, we can embrace those new businesses.”
“Executive Director. Then are you planning to move to the investment firm?”
“No. Considering the succession of DS Group, wouldn’t removing myself from the group be a bad choice?”
“That is correct. You must maintain a position within the group no matter what. That way, you can prepare for whatever might happen.”
If the situation Jin-hyuk worried about were to occur, it would be difficult to respond from the outside. He had to be positioned within DS to move accordingly, regardless of what happened. Jin-hyuk knew this, so he never intended to move to an external entity.
“But even so, staying in the pharmaceutical division while trying to find new businesses to bring into DS seems difficult.”
“Then what will you do?”
“Is there not a vacant position in the place that does the most similar work within DS Group? I plan to go there.”
Jin-hyuk stubbed out his cigarette in the ashtray, leaned forward, and smiled at Hyun Yi-soo.
—
“So? You want to move positions again?”
Park Jun-man stopped eating and looked at Park Jin-hyuk across the table. During their twice-weekly family meal, Jin-hyuk brought up his thoughts to Jun-man. Even though he could have waited to speak privately after the meal, Jin-hyuk chose not to. He directly requested his transfer in front of Oh Seo-young and Park Sang-hyeok.
Jin-hyuk chose this for a specific reason. Only by speaking in front of everyone and then moving could he avoid future noise.
If the place he was moving to was something like DS Construction, which he had first requested, or DS Pharmacy, where he had moved later, he wouldn’t have thought this way. However, the scale of the new location was different from the pharmaceutical or construction divisions. If he moved without Oh Seo-young knowing, it was definitely a place she would bring up later. To set it in stone, he requested it from Park Jun-man while she was present.
“I understand there was a request. I will go there.”
“There was a request from here as well. Was there not?”
Park Jun-man looked at Oh Seo-young. Even under Jun-man’s gaze, Seo-young did not look away from Jin-hyuk. She nodded and replied.
“Yes. We need him as well.”
“So she says. That is why I wanted to send you to West Air. It’s just about time to outline the New Year’s appointments, so I was going to call you to discuss it… but you want to go to telecommunications?”
“Yes. I want to go to telecommunications. And… I don’t exactly have the seniority to go to West Air, do I?”
“Are you looking down on West Air?”
“Isn’t it worth looking down on? How much of a deficit did it run this quarter? Is it even possible to maintain the company?”
Jin-hyuk smiled at Oh Seo-young. West Air, which she had intended to use as a foundation for growing her influence to take over DS Group, was crumbling from the very first step. The travel ban triggered by the Paris Flu had spread to various countries, halting flights. Even now, with things somewhat settled, there were no people going abroad or coming in.
Domestic travel was the same. Staying at home had become a virtue, while moving around and meeting people was considered poor etiquette. Society had developed a trauma regarding human contact, and those who traveled were stigmatized as immoral people who only cared about themselves, so people avoided traveling.
Because of that, industries related to tourism were on the verge of extinction. In particular, West Air had been established for so long that it hadn’t secured any special customers other than tourists. In a situation where it was difficult to fly even one plane a day, it was already entering the process of restructuring as soon as the West Air sign had been hung.
“They say they need you because they want to conduct restructuring… is that not it?”
“That’s right. I want Jin-hyuk to show the same ability at West Air that he showed at DS Construction,” Seo-young said.
“Is that so?”
At Oh Seo-young’s words, Jin-hyuk turned his head to look at Park Sang-hyeok, who was sitting beside him. Whether it was because the company was struggling or because he was uncomfortable talking about work at the dinner table, he was just eating with his head down in silence. Jin-hyuk shifted his gaze from Sang-hyeok back to Seo-young.
“But technically, Director Oh, you have nothing to do with West Air, do you? Why are you so interested in it?”
“West Air is a company that is inseparable from DS Group, so of course I should be interested. I’m also very interested in DS Pharmacy where you are. Aren’t you the same?”
“Hahaha. You’re right. I am also very interested in you and West Air, Director.”
It wasn’t that Jin-hyuk didn’t know. He had simply said it to get under her skin, but Oh Seo-young accepted it as if it were nothing. Her composure told him she still had some breathing room. If she were truly desperate, she wouldn’t even be able to manage those words.
Jin-hyuk stopped laughing and repeated his request to Park Jun-man.
“DS Telecom has been like a ship that lost its captain since the arrest of former Vice Chairman Park Su-man. Other than continuing current projects, no new business is being conducted at all. Someone needs to stand at the bow and point the way for the ship.”
“And you are saying you will be that person?”
“Yes. I will do it.”
“And you have no intention of doing it at West Air?”
Park Jun-man looked at Oh Seo-young with a smile. His face looked as if he would pick Jin-hyuk up and force him into the seat if that was what she wanted.
“It can’t be helped. We will have to find our own way to survive.”
“Why don’t you ask Jin-hyuk one more time? How about it? If you go to West Air for just one year and straighten things out, I will appoint you as the president of telecommunications after that.”
Park Jin-hyuk shook his head at Park Jun-man’s words.
“Stop it. And you too, Director. You don’t truly want me there, do you? Just say what you really want. This is enough of using my name to test the waters.”
Jin-hyuk did not believe Oh Seo-young truly wanted him to go to West Air when she asked Park Jun-man. Seo-young was a woman with great ambitions. Such a woman would not bring Jin-hyuk in just because West Air was failing. It was clear she was putting Jin-hyuk forward to get her hands on something else.
As Jin-hyuk expected, Oh Seo-young nodded.
“Yes. You are right.”
Seo-young turned her head and spoke while looking directly at Park Jun-man.
“Tie it together with Hankuk Hotel.”
“What do you mean, tie them together?”
“Isn’t it true that Hankuk Hotel has many empty rooms because there are no guests right now? Let those who use West Air use Hankuk Hotel’s services at a discount, and allow guests of Hankuk Hotel to receive seat upgrades when they use West Air. Let us sign that contract.”
Park Jun-man just laughed silently at Oh Seo-young’s words.
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