Chapter 80
Chapter 80
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Translator: MadScientist
Chapter: 80
Chapter Title: Ilseong's Shadow Ruler
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Ilseong Group's hidden powerhouse, Strategy Planning Director Executive Director Kim Do-kyung.
He might not be the chairman, but he had personally served the founding chairman. Even the heirs of chaebol families couldn't ignore his authority.
And now, this Kim Do-kyung Executive Director had come to Saudi Arabia.
Right in front of me, no less.
"I'm Kim Do-kyung, Executive Director of Ilseong Group's Strategy Planning Office."
I'd heard of him long ago.
Every chaebol family has people who serve the chairman up close. They're the shadows who handle all sorts of errands even after others have clocked out and gone home.
"I'm Kim Do-jun. What brings Ilseong Group to meet with me?"
"It's about Vigang Systems."
Vigang Systems?
It's already in my hands.
Are these guys trying to buy it back from me? Well, Vigang's value now is worlds apart from before their Saudi expansion. Just looking at the corporate valuation, the media hype had inflated the stock price several times over.
Daeyoung Group was already dealing with the mess in the U.S., thanks to Jin Seol-hwa's handling. With one competitor out, I'd figured Ilseong would make a move soon—but I didn't expect them to come out and demand it so boldly.
He spoke with a veiled threat.
"Ilseong holds symbolic power in Korea. You can't defy us. And just so you know, if we wanted to..."
He glanced subtly at Jin Seol-hwa as he trailed off.
"Ilseong can still block Selig's entry into Korea. The public remains wary of one-sided foreign investments."
In other words, they'd use their accumulated power to block us?
Through media or political connections?
Hello, Executive Director Kim Do-kyung.
In case you didn't know, I'm a total loser.
I used to scrape by on about two million won after taxes, struggling day to day. You think someone like that would act like they own the world just because they made some money?
Of course I prepared for this.
These guys must not have heard Daeyoung's cries of agony.
Of course, those words didn't come from my mouth—they came from Jin Seol-hwa's.
"In that case, we'll have no choice but to target Ilseong Electronics."
"What? You mean our Ilseong Electronics?"
A scoff echoed through the room.
Kim Do-kyung's lips curled slightly.
But.
He had no idea.
The influence we wielded in the U.S.
Do you think a massive recall like that for Daeyoung Motors' sudden acceleration issue—claiming American lives—made it to the Senate agenda just like that?
Pfft!
Another scoff rang out, directed at Kim Do-kyung.
This one from Jin Seol-hwa.
"If Ilseong Electronics is so great, you can refute what I'm about to say."
"?"
"If Ilseong wages war on us, we'll have no choice but to cut off Ilseong Electronics' access to ASML's EUV equipment, as well as products from Lam Research and Applied Materials."
"Wh-what? Do you even know what that means?"
"I'm perfectly sane. Do you think Ilseong is the only company in the world producing semiconductors?"
"......"
Taiwan, for starters.
The U.S. could do it if they wanted.
And considering China and Japan, who were always eyeing opportunities, there were more options than expected.
She didn't hesitate to bring up the sensitive issue.
For example, Ilseong Electronics relied on the U.S. for semiconductor tech and equipment.
If the U.S. imposed sanctions on that tech and equipment, Ilseong couldn't produce semiconductors. Not to mention that chip designs were also U.S.-controlled.
In an instant, control would shift to our side.
Ilseong couldn't have uncovered our connection to Jack Laden.
If they had, they wouldn't have tried this blunt frontal assault.
They must have pegged us as just a pharma company from the U.S. and its affiliates.
You made a mistake.
Jack Laden saw Selig—who saved his son—as his benefactor. With one son dead in an accident and the surviving one barely escaping death, that boy was his only bloodline.
Would he stand by and watch Selig fall?
'From what I've heard, an executive at a U.S. semiconductor design firm is connected to Jack Laden. Makes sense, if you think about it. A powerful U.S. senator like Jack Laden dipping into future industries?'
It was simple, when you thought about it.
Assuming powerful politicians stick only to politics would be a huge mistake.
Ilseong had over-relied on their intelligence and missed the big picture.
"......"
Kim Do-kyung clamped his mouth shut.
A moment of silence.
Then he burst into loud laughter.
"Hahaha, well, I'll be... I got thoroughly played. You win. You got me. Just as the chairman said."
"!"
Jin Seol-hwa and I exchanged subtle glances.
Damn it, it felt like we'd just handed valuable intel to that sly old fox.
"I now see Selig's strong influence in the U.S. well. Oh my, the true face of the upcoming DJ Group is coming into view. You can influence AMD and Nvidia, including Qualcomm. Must be tied to high-level politicians. Impressive. Truly fearsome. Backed by America's real power players."
"......"
One win, one loss.
This old man was no pushover.
He charged in like a hot-blooded youth, then quickly analyzed our relationship and grasped DJ Group's power in that short time.
Damn, time for a plan change.
"Hahaha, I've heard of you, Executive Director Kim Do-kyung. They say you built Ilseong Group alongside the founding chairman."
"Ho ho ho, such high praise for this old man."
"No exaggeration. If anything, it's understated. For a businessman, having reliable aides is like gaining a million troops."
Exactly.
I had reliable people too.
Jin Seol-hwa, Im Yun-ah, Olivia, Park Seong-ho, Prisia, and more.
With trustworthy aides, I had the confidence to weather any crisis.
Did Ilseong's chairman lack that?
＊
After the pleasantries, we got down to business.
Ilseong's Kim Do-kyung said this:
He wanted shares in South Energy, the company I'd acquired. The problem was the outrageous amount.
"6%? You're telling me to hand over 6% of South Energy right now?"
"Not a bad deal. In return, Ilseong will provide full support until DJ Group establishes itself."
"We don't need that kind of help. DJ Group will take root in Korea with or without Ilseong's approval."
"Of course. Looking at you, CEO Do-jun—no, future Chairman Do-jun—it seems entirely possible. But once a group launches, things get hectic. You have to impress shareholders and hammer out detailed initial business strategies at the group level. That alone takes years. Ilseong went through it too."
He wasn't wrong.
Founding a group.
Getting the chairman title doesn't mean it'll run smoothly.
Kim Do-kyung's pitch was simple:
Turn 99% effort into 50%.
Freeing you to focus elsewhere.
"3%."
"We'll concede up to 5%."
"3%."
"5%."
"3%."
"......"
Honestly, over 3% was tough.
Anything more could seriously hinder my management of South Energy.
They might even use it as leverage to meddle constantly.
If a share battle erupted, even that 3% would be a massive threat. Tiny compared to 100%, but in a future where every 1% matters, it'd be a huge crack.
No more concessions.
Handing over 3% was already generous.
"3% or nothing. I have zero intention of selling otherwise."
Ramzan Abdulman already held 15%.
Adding 3% made 18%.
I didn't want to exceed 30% total.
Anything more could spiral out of control.
"Sigh, fine. At least we met the minimum target."
So the Ilseong chairman's goal was at least 3%.
That meant he knew how to separate reality from ideals.
No wonder he ran Korea's top conglomerate.
"Then I have one more demand."
"!"
Kim Do-kyung's eyes widened, as if he hadn't expected that.
Look at that.
When you take, you give—that's the way of the world.
Were you planning to just take without giving back?
"We want 2% of Ilseong Trading."
"Wh-what?!"
Kim Do-kyung slammed the table again.
Ilseong Trading.
The entity managing all shares of Ilseong affiliates.
In simple terms, where all of Ilseong's chairman's funds were handled.
That was Ilseong Trading.
"That's impossible."
"Then we'll pretend the 3% deal never happened."
"......"
"Executive Director Kim Do-kyung."
"Speak."
"I'm well aware Ilseong Group is in a tough spot right now. Semiconductors aren't what they used to be, and other affiliates saw a 17% sales drop from last quarter. It's all over the internet."
Korea was often called the "Ilseong Republic."
Would the public ignore Ilseong Group?
No. There were stalker-like fanatics dissecting every second.
That's why even a slight dip in performance led to massive backlash for Ilseong.
"So you're scouring beyond the saturated domestic market for new growth engines, right? It doesn't take much thought to see why you're here, Executive Director."
Ilseong had a defense arm too.
Ilseong Defense.
Rumors said they were eyeing drones lately.
With Vigang Systems landing a huge contract, they'd come to Saudi sniffing for scraps.
Check out South Energy while confirming Vigang's reality.
I spoke in a subtle tone.
"We've secured a close relationship with Ramzan Abdulman. Saudi Arabia holds massive sway in the Middle East. We've built rapport with its second-most powerful figure. South Energy is a former state-owned firm he's aggressively managing. Handing it to us wasn't just giving a company—it's treating us as future allies."
"......"
"Ilseong Trading is impressive. Manages all Ilseong Group shares and the family's slush funds, right? But 2% isn't impossible."
"!"
The true MVP here was Jin Seol-hwa, no question.
Without her, we wouldn't have connected with Ramzan Abdulman.
Jin Seol-hwa was truly the best aide I'd gained.
How much money and power had I earned through her? How had she given me a voice against Ilseong's hidden powerhouse, Kim Do-kyung?
All thanks to Jin Seol-hwa.
"...I'll check with the chairman. This exceeds my authority."
Over 50% chance now.
If he didn't like it, he'd storm out even on a top-10 chaebol chairman.
'South Energy and Vigang Systems are just window dressing. Ilseong's real aim is the connection with Ramzan Abdulman. If they secure that friendship, they'll have confidence in grabbing bigger gifts.'
I turned my head and saw Jin Seol-hwa, beautifully made up.
Our eyes met for a moment, and she bowed her head slightly, her face flushing red like a ripe persimmon.
What was with this weird atmosphere?
Anyway, I was curious about Ilseong's choice.
'Will they accept, or reject without hesitation...'
The public image of the Ilseong chairman suggested he'd likely agree to my demand.