Chapter 155
Chapter 155
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Translator: Ryuma
Chapter: 155
Chapter Title: A Crisis and an Opportunity
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JD Enter's board meeting was held in CEO Park Jae-yong's office.
“I'm Jo Jin-hwan, and I manage the investment fund, Knock Down.”
“Yes.”
“This is our fund's letter of opinion. Please take a look.”
The letter, presented alongside the contract, only stated that they would not interfere with management and wished for JD Enter's revival.
“Other than the fact that it's convertible after three months, there are no special conditions.”
*I think I could pay it back in six months... three is too short.*
“...Is there any way we could extend the period?”
CEO Park Jae-yong asked with a worried expression. From his perspective, the investment fund that had approached him through President Gu and the one before him now seemed no different.
“Hahaha. Yes. Our fund members hold JD Enter's potential in very high regard and feel a certain affinity for it. As stated in the letter, we will absolutely not interfere with management.”
“So, in the end, your goal is our shares, isn't it?”
“An investment fund isn't a charity, after all.”
After signing the contract for the issuance of convertible bonds, the fund's representative left.
“Director Lee, who's behind this Knock Down fund? You know, right?”
“It must be that big shot Min-jun mentioned.”
“But if they want the shares that badly, couldn't they just buy President Gu's stake directly? Why go through all this trouble?”
“Apparently, they can only operate through corporate investments. You remember how they asked for our opinion when we first considered selling the shares? That's what a board meeting is for.”
“...How do you know that?”
Lee Sun, who wouldn't have known this if the asset management team leader hadn't explained it to her, was momentarily flustered but maintained her composure and spoke.
“You know I read a lot of books.”
“You know all sorts of things. I've only heard bad things about private equity, so I'm a bit uneasy... Is this a good thing or what?”
The 9 billion won that came into JD Enter was exchanged for 32% of President Gu's 50% stake.
“Wow, that kid is really something. I guess I underestimated him because he's so young. How did he pull together 9 billion won in just a few days?”
President Gu said, genuinely impressed.
“You could have asked for a higher amount, but thank you for sticking to the original price.”
“...Ah! I didn't think of that! I should have asked them.”
The Director's face, having just thanked President Gu, momentarily stiffened.
“Ahaha! Director, it's a joke, a joke.”
“...Yes.”
“Even though I invested for personal reasons, I like JD Enter. If I hadn't done something stupid like investing overseas, I wouldn't have needed to liquidate my shares.”
The moment 'overseas investment' was mentioned, CEO Park Jae-yong's face stiffened.
But President Gu's words held a sincerity, and Lee Sun and Park Jae-yong laughed it off good-naturedly.
“Just as you made a decisive choice for us in our time of need, we will repay you with even greater returns.”
“Wow, CEO Park Jae-yong. You really know how to move a person.”
President Gu, who didn't have to give up all his shares, was all smiles, but Park Jae-yong couldn't shake his uneasiness.
It was due to his concerns about the new investment fund.
* * *
SJ Enter conference room.
“An additional lawsuit has been filed against SJ and Your Girl regarding the point membership issue.”
“Have you ever seen such morons! We're victims too, who the hell are they to sue us?”
The point card incident, which seemed like it would end with just an investigation of those involved, was spiraling out of control.
“The company's CEO has already been arrested, and with no way to get their money back, it seems they decided we were the easy target.”
“Ugh.”
“Please calm down. You need to think about your health.”
Manager Jang tried to stop him, but Gyeon Sang-jin's anger didn't subside easily.
“Your Girl's album is...”
“Album, my ass. Are you crazy right now?”
“We've already booked schedules, so there will be losses.”
“Put Your Girl on hiatus and switch to another group's song... Dismissed.”
Seeing an important call coming in, Gyeon Sang-jin abruptly dismissed the meeting, and a look of relief washed over the faces of the employees and PDs who had escaped his scolding.
All the employees left, but Manager Jang and Manager Park naturally remained in their seats.
“Yeah, it's me. What happened?”
-They refused the transfer.
“Why? Was five times not enough?”
-I don't think that was it. They were certainly in a situation where they needed the funds.
“What was it, then?”
-It seems another private equity fund got involved.
“They're not even a listed company. How does a private equity fund randomly get attached?”
-I'm not sure of the specifics, but I think with all the attention on their new album, some of the 'Gangnam Uncles' got involved.
“You're saying they got involved just to have a drink with the girls?”
-...As you know from experience, Chairman, it's difficult to grasp the exact circumstances of a private equity fund.
“Then you should have offered more money.”
-We did raise the amount, but we were rejected over the issue of shares. Unlike us, they allowed him to sell only as much as he needed. Since the deal has already gone through, there was nothing more we could do.
“...Ugh.”
Furious, Gyeon Sang-jin hung up without another word.
“That damn hole-in-the-wall shop...”
Gyeon Sang-jin sank into his chair, massaging his temples.
It was clear he was trying to suppress his anger.
“Things aren't going...”
Manager Jang kicked Manager Park's shoe, cutting him off as he started to speak.
“Hey.”
“Yes, Chairman.”
Manager Jang and Manager Park answered in unison.
“Why am I not getting my way these days?”
“What do you mean? You're the chairman of SJ Enter, who will take down the big two agencies as soon as you go public.”
“...Then why can't I even handle that disrespectful bastard and that hole-in-the-wall company run by an overgrown lizard?”
“...That's just because those guys are insanely lucky.”
Even as they said it, Manager Jang and Manager Park had an uneasy feeling that it wasn't just luck.
* * *
[Sudden Quest 'A Crisis and an Opportunity' Objective Achieved]
One person's crisis can be another's opportunity. Persuade President Gu, who is in urgent need of cash.
Required Funds: 9,000,000,000 won
Prepared Funds: 9,000,000,000 won
As a success reward, you have obtained de facto management rights.
The quest notification window popped up, likely confirming the money had been transferred to President Gu, and at the same time, the CEO's office door opened.
“Ah, don't come out. I'll call you again.”
President Gu said to the Director and CEO inside, his back turned to them. He approached me with a beaming smile.
“Thank you for making a good choice.”
“Aigoo, what are you talking about? I'm the one who's grateful for all your hard work, PD Min-jun. I knew you were different from the moment I first saw you at the audition. It was like you had a halo glowing around your head.”
On that day, CEO Park Jae-yong hadn't seemed to welcome my hiring. It wouldn't be a lie to say I'd gotten this far thanks to the Director and President Gu.
“I think this worked out well for both of us. You won't regret holding on to your remaining shares.”
“Hahaha...”
President Gu glanced back at the closed office door and opened his mouth.
“Honestly, I may not trust what CEO Park Jae-yong says, but I trust you, PD Min-jun. I'll be in your care going forward.”
“I wish you prosperity in your new business.”
“Thank you.”
“And... I doubt it will happen, but if you ever need to liquidate your shares again...”
“Got it, got it. I'll talk to you, PD Min-jun. Though I doubt it will happen.”
“Thank you.”
“I'm the one who's thankful. Who else could I thank for making this much money and getting me out of a crisis? I have eyes and ears, you know. Anyway, let's see each other again soon, shall we?”
President Gu left the office with a pleasant expression.
It was as if I had acquired a 21.33% stake for 6 billion won. My gut feeling was that the Director was the majority shareholder, I was the second-largest, and President Gu, with his 17% stake, was the third.
Regardless of the quest, I had also considered starting my own company, but I knew I couldn't successfully grow a company just by myself. This might be the best possible condition for me to build up my power bit by bit while hiding in the background as the de facto second-in-command.
A thrilling pleasure washed over me as I imagined the future ahead. It wouldn't be long now.
But an annoyance arose from the footsteps approaching me. CEO Park Jae-yong linked his arm with mine and led me toward the planning office.
“...”
“Who is he, that wealthy man?”
“...”
“Min-jun, I'm still the CEO. I should at least know that much.”
“He doesn't like to be in the spotlight.”
“Hey! How can you do this to me? Huh? During the audition, you said you'd pledge your loyalty if I just picked you. You shouldn't be like this.”
*Me? I don't think I ever did that.*
CEO Park Jae-yong was a decent person, but he was unsettling because he talked too much.
To beat Gyeon Sang-jin, who, for now, was a rock to my egg, my financial power couldn't be revealed.
“As a matter of fact, he did pass on a message.”
“What did he say?”
“'If you find out who I am, you will eventually leave JD Enter. But if you insist on knowing, then tell him. It's his choice, so he has to take responsibility for it,' is what he said.”
“...”
A complex mix of thoughts flickered across CEO Park Jae-yong's face before it slowly hardened.
“...Sometimes, ignorance is bliss.”
Suddenly, CEO Park Jae-yong struck a pose and turned his back.
“...”
*It worked... What, did he have something to feel guilty about?*
The Director, who had followed, let out a small sigh as she looked at the CEO's back.
“Dope Scale has a schedule today, so could you take Yoo-ah with you, Min-jun? You don't need to take any staff today, right?”
Today was the day Answer and Lee Yoo-ah were appearing on the radio together.
“It'd be better to go in one car.”
“Okay, tell Team Leader Lee as well. He looks busy right now.”
“Yes.”
It might seem like a small thing, but I felt like the Director was trying to give me more authority.
From Team Leader Lee's perspective, hearing about a changed schedule from me instead of the Director might not seem like a big deal in the chain of command.
The Director, Manager Ji, and the newly hired accounting team followed the CEO into the planning office.
Just a year ago, there were only about ten people working in the office, but the number had grown one by one until it reached fifteen.
With the increased workload, we need to hire more staff, but I wonder if the office can handle it.
Bzzzt.
“Yes. This is Min-jun, in charge of Answer.”
-This is PD Kim Jun-ho from 'Academic High'.
“Hello, PD-nim. What can I do for you?”
-Ah... haha. You promised to cast them when we met in the broadcast station lobby a while back.
“...We did?”
-You know, when you were on your way to that viewable radio show...
They had done three viewable radio shows so far, so it wasn't hard to recall.
*Is he talking about that day I helped the youngest writer when she was struggling and made a mistake?*
It was when Answer was just starting to get famous, and I vaguely recalled a PD in the lobby saying, 'Come on our show next time.' Was he calling that a promise to cast them?
A chuckle escaped me. This was all proof that Answer was getting popular, so I didn't feel bad about it. And I could feel Answer's rising popularity in unexpected ways like this. In the past, 100% of the casting calls came from writers, but these days, they occasionally came from PDs too. It was because casting Answer wasn't as easy as it used to be.
“Ah... I believe their schedule is almost full.”
-Aw, come on, don't be like that. Just make one appearance. Anytime next month is fine. We can arrange a special feature and take good care of you in various ways.
There's a limit to how much a radio show can 'take care of you'.
However, radio shows were also one of the few ways to expose the members' unseen narratives and human side.
That's why we had already planned for them to appear about twice each on various radio stations with different listener demographics.
“First, I'll check if we can coordinate the schedule and get back to you.”
-Thanks. Please get back to me soon. We need to attach some good sponsors.
I hung up and opened the schedule calendar.
“Team Leader Lee.”
Team Leader Lee, who had been working at his computer, shot up from his seat and approached me.
“Oh, PD Min-jun. What is it?”
Unlike before, Team Leader Lee was now extremely polite to me.