Chapter 120
Chapter 120
120.
The Rising Beacon of the Enemy (2)
MH Group headquarters, CEO's office.
Myung In-chul took the ice pack Park Sang-gyu brought and held it to his forehead before throwing it against the wall.
Smash—
Myung In-chul's forehead was red and swollen from being hit by the bottled water Myung Joong-hwan had thrown.
But more than the pain there, he was dumbfounded by his dismissal from his positions as CEO of MH Electronics and MH Construction with just a word from Myung Joong-hwan.
It was all because Myung Joong-hwan held absolute power within the group.
The board of directors had no choice but to follow Myung Joong-hwan's orders. That was why Myung In-chul wanted to get rid of his father, the ruler of MH Group, Myung Joong-hwan, as soon as possible.
"Damn it—!"
Amidst his shouting, Park Sang-gyu picked up the ice pack that had fallen after hitting the wall, dusted it off, and brought it back.
"Sir, it would be best if you calmed down."
"Park, you knew about this, didn't you?"
He was referring to the MH Electronics matter that Kwak Chi-young had orchestrated.
"I didn't know the specifics."
"From the start, Park, you've been a loyal dog of TSF. And you expect me to believe that?"
The point at which Myung In-chul joined hands with Kwak Chi-young was when he accepted Park Sang-gyu and his bodyguards as his closest aides.
Of course, he knew that surveillance was one of their duties.
But taking over MH Group was more important, and he was confident that he could turn Park Sang-gyu into one of his own.
Now, even that was in doubt...
Park Sang-gyu spoke with a serious expression.
"Since I came here, Director Kwak has never told me about any plans. Of course, I report on necessary matters, but none of them were confidential."
"Haa..."
"Still, you will be completely excluded from the list of suspects in this matter as the plan proceeds."
Was he really trying to comfort him with that? Myung In-chul's face instantly crumpled.
"Does 'the plan' mean shaking up MH Electronics to secure shares and swallow it?"
"That's all I know."
"But can the current situation even be salvaged? What good is it if MH Electronics collapses?"
MH Electronics was the group's present and future. The digital industry would continue to develop, so MH Electronics could not be excluded from the group that Myung In-chul would inherit.
"I believe Director Kwak has devised a way to manage it."
"What way, when he's already handed over the technology patents to LAOJIA? Is that company suddenly going to go bankrupt?"
Beep-beep—
Just then, the internal phone rang, and Myung In-chul answered it irritably.
"What is it?"
The employee, startled, spoke cautiously.
[…Myung Sung-chul is here to see you.]
Normally, he would have burst through the door. But Myung In-chul had ordered that no one be allowed in after what happened in the conference room.
However, since it was Myung Sung-chul, Myung In-chul's younger brother, they couldn't just stop him and had to call.
"Alright. Send him in."
Myung In-chul hurriedly tried to calm himself. Seeing this, Park Sang-gyu brought him a glass of cold water.
Soon, the employee opened the door, and Myung Sung-chul was able to enter.
"What brings you here?"
Asking about his business right away, Myung Sung-chul sat on the sofa, forcibly suppressing the twitching at the corner of his lips.
"Why else would I be here? I heard about what happened to you, hyung, and came because I was worried."
"...Worried?"
From the beginning, Myung Sung-chul had been dissatisfied with Myung In-chul holding the position of CEO of MH Electronics.
In that situation, Myung In-chul had been ousted from the position of CEO of MH Electronics, so he had clearly come to mock him.
"Honestly, Father is too much... How can he make such a decision out of the blue?"
"It's my fault. I didn't pay enough attention to those important matters."
"Even so, he should at least let you resolve the situation. And what's with Im Hee-yeon? Why is she so quick to take that?"
The meeting had ended only a few tens of minutes ago. Yet, the fact that Im Hee-yeon had been put in charge of the MH Electronics design and technology leak case had already reached Myung Sung-chul's ears.
"I didn't know your intelligence network was so fast."
"In a company as small as ours, wouldn't you be a spy if you didn't know that?"
Myung In-chul was displeased with Myung Sung-chul's attitude of making ridiculous excuses.
"Shouldn't you be worrying about yourself rather than worrying about me? If Baek Shin-woo wins the bid for Baesung Distribution from DAX, you'll have to separate all the distribution lines. You should prepare in advance."
Was this what they meant by tit for tat?
This time, Myung Sung-chul couldn't help but grimace.
"Honestly, do you think that's even possible? The minimum bid alone is 500 billion won. And there are more than one or two companies jumping in. You'd have to see at least 600 billion won, but no matter how great Baek Shin-woo is, MH Future Security can't possibly have that kind of money."
"How can you be so sure?"
Myung Sung-chul had also planted people in MH Future Security and had been receiving reports. So far, MH Future Security's investment returns had been steadily increasing, so Myung Sung-chul couldn't answer easily.
"...It's not like I'm not thinking. Shouldn't I be more worried about you than myself?"
"Why? Are you going to raise the bid and try to rip me off?"
For a moment, Myung Sung-chul's brow twitched as if he had been hit right on the mark.
"Is there any need to do that? If I eat it, I eat it."
"Is that even possible?"
Myung In-chul also knew that Myung Sung-chul's financial situation was not good. Of course, as the CEO of MH Foods and MH Retail, he wasn't lacking in wealth, but it would be difficult to move hundreds of billions of won in a short period.
"Are you underestimating me too much?"
"Honestly, the best-case scenario is for you to take over the distribution lines rather than Baek Shin-woo. Well, if you need help, just say the word."
Even though it was a deliberately provocative tone, Myung Sung-chul was slightly tempted.
"You're not saying that without any conditions, are you?"
"MH Distribution shares equivalent to the amount of help I give. If that seems too much, we can mix it with MH Retail shares."
"...Shares? How much money are you thinking of?"
Myung In-chul pondered for a moment and then said, "How about 400 billion won? You should be able to cover the rest, right?"
"Where is that kind of money coming from?"
"It's not exactly my money. There's a private equity fund I know through my connections."
At that explanation, Myung Sung-chul ran his hand around his mouth.
"I think I can manage that amount if I move a fund as well. But are you really helping me? You're not going to suddenly back out later, are you?"
Myung Sung-chul had even suffered a great loss due to the Baesung Distribution shares. He had managed to make up for it to some extent through the deal with DAX, but now that Baesung Distribution could fall into Shinwoo's hands.
To make up for all the losses immediately and solidify his position, he needed Baesung Distribution.
"Are you really going to do it? No joke?"
"Since it's such a large amount, there will be a review within the fund, so it will take at least a week. Will you be able to make it before the bidding?"
There were about two weeks left until the Baesung Distribution bidding. Even if Myung In-chul helped, the plan would fall through if Myung Sung-chul didn't have additional funds.
"Don't worry about that."
The deal was made.
Myung Sung-chul felt a little uneasy, but the anticipation of being able to take over Baesung Distribution overshadowed that feeling.
* * *
【Mold found in five types of M Foods products being distributed in the Americas… The US EPA (Environmental Protection Agency) has announced that it will conduct a large-scale investigation…….】
【M Foods following M Electronics? An incident in which a dangerous mold was found in products of M Foods, which had recently been gaining popularity in the Americas, causing numerous victims…….】
.
.
Not many days after the MH Electronics design leak and technology theft incident, the news was once again plastered with problems at MH Group affiliates.
In response, Myung In-chul immediately contacted Kwak Chi-young and met him at the villa on the outskirts of Gyeonggi-do, as before.
"MH Electronics aside, are you even touching MH Foods?"
At Myung In-chul's shout, Kwak Chi-young, who had arrived earlier, wore an indifferent expression.
"When you shake things up, you have to shake them up properly. Thanks to that, the situation is flowing as we planned, isn't it?"
Within MH Group, MH Electronics and MH Foods were key affiliates. That was why TSF had targeted those two from the beginning and planned for a long time.
"After the situation is resolved later, do you have any measures to clean up the mess? The same goes for the MH Electronics case. The design issue can be resolved as a problem with the design team, but technology leaks are on a different level!"
Myung In-chul had wanted to ask as soon as the incident occurred, but he had remained silent, thinking he should watch the situation.
However, the scale continued to grow, and since there was no mention of a way to resolve it, he couldn't help but feel anxious.
"You don't have to worry about that."
"Do you have a solution?"
"Our TSF side has discussed matters with LAOJIA. As soon as we secure the shares needed to secure management control, we will even go after Chairman Myung Joong-hwan's position. After that, we will handle it to minimize problems."
At the same time, Myung In-chul's brow furrowed deeply.
"Can there really be no problems? What about the MHD323B Chip technology patent rights? What have we done for that one thing... Will China let it go so easily?"
The result of MH Electronics' independent technology had attracted the attention of the world with the announcement of the new product. And now, that much backlash was returning to erode MH Electronics.
From Myung In-chul's perspective, it was difficult to believe Kwak Chi-young's words at this point.
In response, Kwak Chi-young received a tablet from Oh Han-sung and handed it over.
"This is the document they submitted to apply for the MHD323B Chip technology patent examination. The period is only two months ago, and we've also manipulated the PCT (Patent Cooperation Treaty), so it won't be approved unless I give my approval."
Myung In-chul scrutinized the contents of the document in disbelief.
"This... is this real?"
At that question, Kwak Chi-young looked at him with eyes full of disappointment.
"Is that all we are to each other?"
"Haa... it's not that, it's just that there are too many things happening these days without me knowing."
"Knowing too much about the plan internally can also be a problematic element."
"Are you telling me to just blindly trust you?"
"That's not it. That's why we gave you 0.3% of our TSF shares as collateral, because trust is necessary."
Currently, TSF Investment's market capitalization is US$123 billion. In Korean won, that's about 165 trillion won. 0.3% of that is about 500 billion won.
It was by no means a small amount, so Myung In-chul had been able to accept it as collateral.
"...I know."
"There's absolutely no chance of failure, so you don't have to worry."
Even as he heard those words, Myung In-chul couldn't shake off his uneasy feeling.
Then, Kwak Chi-young looked at Myung In-chul and changed the subject.
"I heard that your younger brother, Myung Sung-chul, is jumping into the DAX's Baesung Distribution bidding."
"You even know about that?"
"Of course, I have to pay attention. I heard you're even lending him money, but are you really sure about that?"
For a moment, Myung In-chul understood the meaning of his words.
"Is it because of Baek Shin-woo?"
"So far, Baek Shin-woo has never missed anything he's aimed for, so yes."
At Kwak Chi-young's bitter murmur, Myung In-chul let out a hollow laugh.
"That's right. He's never missed. Thanks to that, TSF has been burned several times."
"You seem upset because of me, so your words are getting rough."
"It's not wrong, is it?"
Myung In-chul didn't back down easily either.
In response, Kwak Chi-young scratched his head.
"I've joined hands with Myung In-chul. So, I hope you won't make any unnecessary provocations."
"......"
A heavy atmosphere was carried in the last words.
Feeling that, Myung In-chul could only stare for a moment before leaving the place.