The Solution Is Simpler Than You Think
Identifying who this woman was mattered, but there was something far more pressing. The clock already pointed to 5:20 PM, and I needed to prepare for a phone call. Come to think of it, I hadn't even read the documents I’d received yet.
“For now, organize everything you know about that woman.”
“But it’s almost time to clock out?”
“I’ll pay you overtime.”
“I’m the daughter of a wealthy family, you know?”
Why bring that up now? Just give in, for heaven’s sake.
“...I’ll give you an A3 performance rating.”
“Who would that satisfy? You could promote me to Manager right now, and even then—”
“Fine, I get it, I get it!”
Right. The answer was already decided. I just had to say the words.
“...I’ll suck your breasts.”
“Heh, for an hour?”
“No. Thirty minutes. Why would it take an hour...”
“Let’s just be cool and go for an hour, Executive Director!”
“I’ll coolly send you home. It’d be better to just meet the woman and talk—”
“...Thirty minutes. That’s not bad.”
After that, he left Eunbyul to reopen her laptop and type up a document while he stared at his own monitor. As he scrolled down, his eyes widened. The content was clearly of significant importance. He lost track of time reading it, and just as he finished, the phone rang.
“Yes, President, this is the Executive Director!”
“Yes... have you had a chance to look over the documents?”
The tone was more restrained and less soft than before. Given the gravity of the information, this would need to be reported to the Chairman as well.
“I have. It’s not good news.”
“That’s why I requested a review from the ISG around lunchtime today. I also consulted with the CRM. What is your take on this, Executive Director?”
Now. I had to think about how this had come to pass. I needed to move my brain quickly...
As he thought this, the tangled threads in his mind slowly began to unravel. As his brain’s loading reached its peak, the facts and potential solutions were neatly organized.
1. The overseas company that invested a massive sum into GPL and acquired a 50% stake is a U.S.-based private equity fund.
2. The problem is that it’s impossible to know the true intent behind this investment.
3. The name of this fund is Salaim, one of the top three largest firms in the industry.
4.Salaim is famous for investing heavily in small ventures, waiting until they go public, and then dumping all their shares.
5. They often don't dump them on the open market to maliciously tank the price, but rather sell them to 'other private equity funds' looking to start a management dispute.
6. So, if we work hard to grow GPL in this state? We’d just be doing all the labor for the Americans.
7. What if we suggest stopping government investment here? It would be a massive disaster. The government would have wasted tax money, the company’s management rights would be snatched away, and the dream of Korea leading the alternative fuel market would be shattered.
8. That would be perceived as a new 'incident,' and I’d be left as an unemployed bum who couldn't even set foot in Doowon again.
“...Executive Director?”
“Yes. I was thinking.”
“...”
Then, he began to search for a way out.
1. Issue new shares? That would require a capital increase, which needs board approval. I hadn't even cared enough to know who was on the board. But if I proposed a capital increase, Salaim, as the largest shareholder, would undoubtedly replace the entire board with Americans. Why? Because they would demand a rights offering to protect their stake. That would only increase the capital amount without changing the shareholder ratio.
2. Dissolve the company and establish a new GPL? Nonsense. All the patents registered under the legal entity of GPL would vanish. Or rather, if they vanished, that would be lucky. If they were liquidated, the patents would be distributed according to shareholder ratios, and we’d lose them entirely. It would only hasten our destruction.
3. ...I couldn't think of anything else.
He continued the call.
“For now, everything I’ve thought of... is a dead end.”
“First, I think it would be best to contact the government and suggest deferring the investment.”
“Hmm.”
“What if we created a separate legal entity, and once the alternative fuel development is successful, that company handles global distribution?”
“...”
It would likely run into antitrust issues, but coming from someone who worked in banking and finance, the idea was quite fresh. It was the sheer determination to salvage even a little profit.
“But that would trigger antitrust regulations. Every country would conduct reviews...”
“...I see. You’re right. I suppose that’s true, unless the production company sold it directly...”
It was like this: If a company developed a vaccine and claimed they would sell it directly because they were the original developers, they could approach the government. But if they went through an intermediary trader, the moment it looked like they were price-gouging, every country’s equivalent of a Fair Trade Commission would launch an investigation. If it were discovered that they were colluding with the parent vaccine company, they’d be hit with a sales ban immediately. Furthermore, there was no merit to it right now. If alternative fuel were already commercialized, maybe, but currently, the world was flooded with diesel, gasoline, LPG, electric, and hydrogen vehicles. There was no way countries would waive regulations just to beg for alternative fuel.
“Sigh... For now, let me think about it. Yes. I’ll look into it and contact you again.”
“Understood. We will also look into who is participating in Salaim’s private equity fund and who the biggest player is.”
“Yes. And you’ll need to delay the government investment. Is there anyone who can be persuaded?”
The call ended with the promise that he knew a few people and would try to make contact. Naturally, as the president of a leading domestic life insurance company, a man who had dominated the major banks, he was reliable.
As he was organizing his thoughts, Eunbyul spoke up.
“It must be something really bad.”
“....”
“What is it?”
He explained it to Eunbyul. It felt comforting because she understood even complex matters easily. As he talked about how the majority shareholder of GPL was actually a private equity fund called Salaim, and how he blamed himself for selling shares to such a dangerous place that could trigger a management dispute, he mentioned how his head hurt trying to figure out a solution. Eunbyul asked a few questions and fell into thought.
“What was the scale of Salaim again?”
“...Second in AUM. 70... trillion won?”
“That’s huge.”
AUM stood for Assets Under Management. That company called Salaim was moving nearly 70 trillion won.
“Then who is the person who invested the most money in Salaim?”
“...It’s a private equity fund. They’re often anonymous. Just people secretly growing their wealth.”
“Hmm. I see.”
“It’s like a syndicate.”
A syndicate of wealthy people—that was a private equity fund. If you looked at them individually, there were plenty of people with less money, but what if 700 people with 100 billion won each gathered together? That was 70 trillion, and that was a place like Salaim.
“What does the Executive Director think?”
“For now, there’s no answer. I think it would be best to look up related cases or get support from the legal department.”
Eunbyul said that, checked the clock, and suddenly said it was time to clock out, heading toward the first floor. He hadn't even finished organizing his thoughts, but he was busy grabbing his bag and riding the elevator with her. After seeing her off to her front door, he stared at the pitch-black sky, which matched his own dark abyss of a mood. He squeezed his eyes shut, opened them, and arrived home, stepping out of the car.
“Thank you for your hard work.”
“You seem to have a lot on your mind.”
“...Yes. That’s how it turned out.”
“You’ll always be able to handle it well.”
Hearing the driver’s words gave him a tiny bit of strength, but it quickly dissolved into the abyss. He bowed and slowly entered the house. Jia slipped out, checked his expression, and sensing that today wasn't the day, she pursed her lips and took his bag and coat to their proper places.
“Master, are you very tired?”
“Yeah. ...Just, I have a worry I didn't expect.”
“Why? What happened?”
Normally, he would have used her as a punching bag, saying, ‘If you knew, would you pay for it all?’ but he didn't hold the same intense ill will as before. So, he told her all the facts, doubting she would understand. However—
“...That’s simple.”
“What’s simple? There’s no such thing as an easy job in the corporate world—”
“Master, just take over that private equity fund.”
Huh?