Chapter 154
Chapter 154
Episode 154. The Land Grab Begins (1)
A few days later.
Shinwoo found himself sitting across from Dorothy McDaniel, whom he had thought had already returned to China, while he was working diligently as usual.
“I was surprised by your sudden visit.”
Warm coffee was placed between them, steam rising.
“I came to see you urgently because I have to go back to China soon.”
“Did your work in Korea go well?”
At the question, Dorothy’s expression seemed to wrinkle slightly before smoothing out.
“It wasn’t particularly good.”
It was because she was trying to find Cui Xun. Since then, she had only found traces in Seoul, Incheon, Mokpo, and Busan, always a step behind and unable to catch him.
“Oh. That’s unfortunate.”
“More importantly, I came because of a gift I hadn’t yet given to CEO Baek Shin-woo.”
Last time, Dorothy had underestimated Shinwoo and tried to deceive him with the production volume of LAOJIA’s new products, only to be caught.
Of course, if that process had gone according to plan, TSF’s China branch would have received commissions or rebates through LAOJIA.
Although she had managed to buy some time by speaking indirectly afterward, it was a humiliating experience for Dorothy.
“Is there a quick way to resolve this?”
“I will try to resolve the LAOJIA issue within a month at the latest. Then, MH Electronics’ new product launch will be slightly delayed, but there won’t be any major problems.”
At that answer, Shinwoo gazed at Dorothy.
“You’re speaking too generously, which makes me suspect there might be other conditions.”
“As expected, you’re sharp. The information you gave me has value, but it’s not enough to cleanly resolve the LAOJIA matter.”
“That doesn’t seem to include the inflated production volume from their side.”
Dorothy’s brow twitched for a moment.
“LAOJIA doesn’t admit it. They are taking the stance that they will pursue this, even if it takes a lifetime, unless compensation is paid for the losses incurred in any way.”
Frankly, it was like saying, “Sue me.”
While the two companies wouldn’t be fixated on that product forever, for MH Electronics, the leakage of technology that was meant to be their future foundation meant that damage would accumulate over the long term.
“So, what is Director McDaniel’s condition?”
“I would like CEO Baek to make an investment in a company I desire.”
“An investment?”
Shinwoo was already involved in investments anyway.
It wouldn’t be difficult to ask him to do that, but he hadn’t expected Dorothy to make a reasonable request as a favor.
“It’s a simple investment. The scale is that of a small to medium-sized enterprise. However, in addition to the investment, there’s something I need to receive.”
As expected, there was another option attached.
“What is that?”
“Equity. The companies I will mention are all unlisted.”
In unlisted companies, the CEO usually holds the majority of the shares. While there are exceptions, in the former case, Shinwoo might find it difficult to demand equity under the guise of investment.
“What’s my benefit from that?”
“It will be an opportunity to strike a blow against the person who displeased CEO Baek.”
Frankly, Shinwoo felt displeased just by sitting across from Dorothy.
“You’re referring to Director Kwak Chi-young. But aren’t you both from the same corporate family?”
“Just because we grew from the same root doesn’t mean the size of the fruit that grows on top will be the same. Moreover, to cultivate proper fruit, some fruits are cut off before they even bud.”
Her analogy was cold yet sharp.
Shinwoo smiled slightly as he looked at Dorothy, who showed no reaction.
“So, for Director McDaniel, that target is Director Kwak Chi-young.”
“Director Kwak sees me that way too, so why should I be any different?”
“You were in the midst of a war.”
“Every moment is a war. So, do you have any thoughts? Of course, there will be no loss. The companies I’m talking about are like the emergency funds of TSF’s Korea branch.”
Shinwoo could guess what that meant.
“It seems TSF’s Korea branch is in significant need of funds.”
“Well, you could say that. And I want to block that funding.”
Dorothy’s explanation reminded Shinwoo of the Ray Sung Group’s slush fund that had almost gone to TSF’s China branch.
A staggering 1.8 trillion won. It was currently being laundered through Weisuan and managed by them. And TSF Korea branch’s funds had been blocked when Shinwoo protected the MH Group.
‘They’re really itching to tear each other apart.’
As Shinwoo thought, Dorothy continued speaking.
“As I mentioned earlier, if you secure the equity, it won’t be a losing deal for you.”
“But from what you’re saying now, Director Kwak Chi-young has already secured equity in those companies. And he’s plotting something interesting with it.”
It was as good as saying it was entirely possible.
However, Dorothy’s expression became somewhat subtle.
“I’m sorry, but it involves sensitive matters, so I can’t elaborate further.”
Of course, Shinwoo had asked knowing she wouldn’t be able to.
“What is the scale of the secured equity? And what should mine be?”
“There are 13 companies. The total amount will be around 100 billion won.”
It wasn’t an unreasonable request.
However, Shinwoo had a question, so he asked.
“While I can’t precisely estimate the scale of the companies right now, isn’t acquiring the companies outright an option? If Director Kwak Chi-young used them as emergency funds, they must have value.”
“We can’t afford to just throw money away.”
Dorothy’s hint was equivalent to saying those companies were in a dangerous state.
At the same time, Shinwoo could guess Kwak Chi-young’s objective.
“…You intend to deliberately bankrupt the companies. Has Director Kwak Chi-young also reached out to the banks?”
“I cannot say that much.”
It was a word game where all the hints for the answer were given from the start.
“So, Director Kwak stands to gain from the companies he’s deliberately bankrupting, and you’re asking me to stop him.”
“Instead, we will cover the costs required for equity acquisition. Once the matter is settled, you just need to transfer ownership to us, and there will be no problem.”
This also meant they wanted to borrow Shinwoo’s name and capabilities.
“You want to use me as the front to hinder Director Kwak Chi-young and then finish him off.”
“After all, if people who started from the same root fight each other, other fruits might fall along with them.”
It was clear Dorothy was trying to set up safeguards.
“But is LAOJIA all I gain from this? That seems insufficient.”
“I’ll resolve MH Foods for you as well. On top of that, I’ll separately pay you 50% of the equity acquisition cost indirectly. Using CEO Baek’s personal funds.”
This meant at least 50 billion won.
Shinwoo rolled the 8-Sided Dice in his hand, making a sound.
Clatter— Clatter—
“…Alright. Send me the funds and the list, and I’ll proceed.”
“Thank you. I’ll resolve the matter as discussed.”
Saying so, Dorothy put on her sunglasses and stood up.
“Please return safely.”
“See you again.”
Watching Dorothy leave, Shinwoo felt a sense of disdain. The atmosphere of trying to manipulate him was palpable throughout the conversation.
Knock— Knock—
At that moment, the door connecting the offices was knocked on, and Jang Man-soo poked his head in.
Shinwoo then ran a detector over the seats where Dorothy and her bodyguard, Braden, had been. Fortunately, finding no signs of anything installed, he felt relieved and nodded at Jang Man-soo.
“What did that woman want?”
To Jang Man-soo’s question, Shinwoo sank back onto the sofa.
“Brilliant Group’s funding deadline is approaching. Kwak Chi-young, unable to prepare all the funds because MH Group is stable, is preparing an alternative plan, and Dorothy is targeting Kwak Chi-young’s back with that.”
“Wow— It’s a jungle, a real jungle. How can anyone live here without fear? So, what does she want you to do?”
“She wants me to secure equity in specific unlisted companies. It seems Kwak Chi-young, who has already secured equity, plans to deliberately bankrupt those companies to gain something.”
“If they’ve already been through a process, it shouldn’t be too difficult to break through. It implies a connection with the banks too. For it to go to bankruptcy, loans, commercial papers, and bonds must all be tied together for certainty.”
With a mumble, Jang Man-soo also seemed to have finished his calculations.
Of course, it was within the scope Shinwoo had anticipated.
“Probably, Kwak Chi-young owns some of the commercial papers or bonds. Or at least is involved with the creditors. That way, if the company can’t secure funds by the due date of the commercial paper, it will go bankrupt.”
“Didn’t Dorothy tell you that?”
“Not really. She was solely focused on making me compete with Kwak Chi-young for equity. And in the meantime, Dorothy plans to scheme something else.”
Jang Man-soo began to ponder.
“The key is what Kwak Chi-young gains by bankrupting those companies. Did you get the list?”
“She’s supposed to send it……”
Whirr—
A message arrived just then. It contained the list of companies Dorothy had proposed.
“…She’s no angel. Here.”
The list was passed to Jang Man-soo and began to be reviewed.
“I need to check this in detail?”
“What is it?”
“Follow me.”
Shinwoo picked up his phone and followed Jang Man-soo, who led the way into the adjacent office.
Sitting at his desk, Jang Man-soo sent the message contents to his computer and began typing rapidly.
Seeing him, Lillian and Wei, who were working on other tasks, also approached.
“What’s going on?”
Shinwoo explained the previous day’s events to the two, gathering their heads as Jang Man-soo focused.
“Ah—! But what is he doing now?”
“I don’t know. He’s not telling us anything.”
All they could do was wait quietly.
Then, Jang Man-soo seemed to have found something, displayed it on the screen, and turned around.
“As expected, I know what Kwak Chi-young is after.”
“What is it?”
As everyone’s gaze turned to Jang Man-soo’s monitor, he began to explain.
“Technology patents and equity.”
“Since they’re small to medium-sized companies, I understand the patents, but what about the equity?”
They asked, puzzled, as it couldn’t mean equity in those companies.
“First, the patents are valuable. If I recall correctly, there are patents that will become huge hits in 2-3 years, linked with technologies from other companies. Within 5 years at the latest.”
“Then what about the equity?”
To Shinwoo’s question, Jang Man-soo replied proudly.
“There are small stakes from large corporations registered under the company’s name. But even though they’re called small stakes, combined, they’re worth at least 200 billion won. If sold well, it could be more than double.”
“That much? But if they pressure with loan approvals, commercial papers, and bonds, couldn’t they sell that to resolve it?”
“That’s possible because they’ve already borrowed money using that as collateral. Naturally, that creditor would be Kwak Chi-young or someone related to him.”
Acquiring a company requires several times that amount in funds.
However, to bankrupt a company, all that’s needed is to create a problem and block the escape routes.
Kwak Chi-young planned to use that method to extract everything he had stored as emergency funds all at once.
“He’s more of a madman than I thought. He immediately thought of a way to bankrupt companies because he was desperate for money.”
“He’s truly mad. More importantly, since you’ve accepted the request, we need to proceed with securing the equity. How should we interfere?”
At Jang Man-soo’s question, Shinwoo began to rack his brain.