Business Card
***
In Yeouido, being drawn to an attractive partner was an utterly instinctive affair. Even the chaebols harbored this instinct. Their seductive prey? The press. To seize control of the media, chaebols spared no means or methods. Sometimes, under the guise of freedom of expression, they'd throw tantrums like children demanding toys. But the government wasn't one to indulge them. With stern faces, they unsheathed regulatory blades without hesitation. After all, if the media fell into a single company's hands, everyone knew which way the articles would slant.
The government's and corporations' stances clashed sharply, but there was one undeniable common ground: owning the press meant you could steer any endeavor smoothly in your desired direction. It could turn the impossible possible—or sprinkle chili powder on something perfectly feasible. In his previous life as head of the misinformation squad, Kang Min-ho knew the media's power all too well. Choosing a newspaper as his first venture was no accident.
The 200-pyeong office was mostly empty space, but Min-ho filled the voids with his signature enthusiasm as he led the meeting.
"Operating profit, growth potential—and the most enticing part? The ability to sway public opinion. Assuming we build that influence, of course."
Choi Jong-hoon, the lawyer, nodded as he absorbed Min-ho's explanation. "I understand completely now. But when you say 'build influence,' do you mean without the chairman's help?"
"If we involve Grandfather, regulations are inevitable one way or another. We couldn't guide opinion where we want it, either."
"Legally speaking, you're just an employee at JK Credit Info with no ties to management, so there are no issues, as you said."
As he reviewed the documents, Choi grew curious why Min-ho had opted for acquisition over founding a new paper, despite knowing the details. Pretending ignorance for confirmation, he asked, "May I inquire why you chose to acquire an existing paper rather than start one?"
"I looked into founding one, but it's inefficient. Meeting the requirements for article publication, capital, articles of incorporation, proof documents, reporter headcounts—the details take forever."
As expected, Min-ho had the situation nailed down. Choi moved on briskly. "We still have time to revise the letter of intent. Any adjustments to the details?"
"When acquiring a distressed company, employment succession is key. My capital's more than sufficient, no issues there."
"How much funding are you envisioning?"
"Fair value's around 1 billion won, but factoring in the advantage of hitting the market immediately post-acquisition, up to 2 billion makes sense. What do you think?"
"I agree. Considering time and labor costs, it's a smart move."
The acquisition battle and plan were flawless, but a practical hurdle loomed. Glancing at the empty office spaces, Choi raised it. "These tasks are crucial, but depending on future matters, we may need more hands."
"I was just pondering recruitment when the perfect solution walked in."
"From the credit team, perhaps?"
"Speak of the devil—here he comes." With sharp heel clicks, a man approached. Fresh from the prison-like Pocheon factory, he wore a spotless suit: Cheon Dong-gwan, striding in with newfound confidence. To him, Min-ho was a savior.
He'd rushed over at a single call, beaming as he bowed. "Cheon Dong-gwan here. Looking forward to working together."
"Shouldn't you rest a bit before diving in?"
"Once the debt was cleared, I felt empty lying at home with idle thoughts. Better to get started."
"Good call. Have a seat here—I'll bring you up to speed." Min-ho outlined the plan, then pressed on with the meeting.
"We've submitted letters of intent for Yeonggwang Daily alongside Hwanggang, Daewon, Daegwang, Jinseo, and Tongmin—five in total. Notice anything off?"
Choi pondered the company names, shaking his head. "Nothing jumps out. What feels strange?"
"Media properties are rare birds. Normally, they'd draw a crowd. But these five? Zero reason for them to want a newspaper."
Min-ho's analysis was spot-on. The bidders were all manufacturers. Not impossible, but no clear motive. Even if they won, they'd face Korea's top three dailies—defeat was obvious. No general marches into a bloodbath.
This deviated slightly from Min-ho's memories. He double-checked, but no clear trigger emerged. Cheon, studying the names, elaborated. "As you noted, young master, they're all manufacturers. Why enter a media bidding war?"
"If I had to guess, they're cash-strapped. Probably decoys. The real player submits today, the deadline."
"A major firm behind them?"
Min-ho nodded, flicking on the radio to the news channel.
[Yeonggwang Daily letter of intent deadline. Hwanggang, Daewon, Daegwang, Jinseo, Tongmin—plus newcomer Athena and Namdo Group. Yeonggwang Daily will thus...]
The name "Namdo Group" unlocked it all for Min-ho. Choi caught on too. "Young master, Namdo—didn't they partner with the chairman? Han Du-hak?"
"Right. Grandfather was the viper of Myeong-dong; Han was the hippo."
"They collaborated once, but it ended messily, from what I hear."
"Han always demanded more. Grandfather wouldn't stand for it."
Choi nodded. "That birthed the rivalry?"
"Smaller than JK, but no pushover. Problem is, the hippo's heating up."
"With JK snagging Daehan Mobile Telecom, maybe rivalry or backlash?"
If things followed script, Min-ho would snag Yeonggwang Daily smoothly. But Han stirring meant fierce intent to claim the paper.
"Can't perform the rites with a farting belly, so he'll spice what he can't eat."
"You think that's their play?"
"Just a hunch. But one thing's certain."
"What?"
"Those decoys and Yeonggwang Daily? They're spending someone else's money. Crystal clear."
"No way... Han Du-hak?"
The knot untied for Min-ho. He nodded. "Those five are pure screens. Without me, it'd go to Han."
"Forgive me, but against Namdo's capital, we're outmatched."
"Fights aren't won on muscle alone. My cards ready?"
Choi handed over two plastic-cased business cards. "Athena president and agent versions."
"I'll head to Yeonggwang Daily. Cheon, get settled—grab lunch."
"Young master, without an appointment, will they even see you?"
"No worries. Be right back."
***
What Min-ho expected as a light acquisition skirmish had Namdo slipping in a toe with cunning precision. Plan tweaks were needed. To confirm facts, he had to meet Yeonggwang Daily's President Jo Dong-uk.
Hailing a cab, Min-ho headed straight to the Jung District headquarters. Stepping out, he eyed the building plastered top-to-bottom with anti-acquisition posters.
-Oppose Namdo Group takeover.
-Infringing press freedom: Chairman Han Du-hak.
Originally fated for Hansan Group, the timeline had shifted. For hard facts, Min-ho pushed through the doors.
Unlike the grim exterior, the cramped offices buzzed with fervor. Reporters squeezed every last drop to avoid becoming Namdo fodder.
-How's the Kang Jin-gwang interview?
-Not yet.
-I'm staking out Seongbuk-dong. I'll handle remaining stories.
-Got it, sunbae—heading out now.
No one slacked; all hustled breathlessly. A man met Min-ho's gaze, turning irritably. "No new hires. Try elsewhere."
"Not a reporter."
"Who you looking for?"
"President Jo Dong-uk."
The man set down his pen, sizing Min-ho up. "Dunno how you got in, but we can't cover insurance for randos. Leave a card."
He slumped back. Min-ho proffered his. "Lee Min-ho, Athena agent. Here to relay our president."
"Pardon? Athena... now?"
"Lines were down, so I came myself. Could I see the president briefly?"
Athena was their lifeline. Stunned, he double-checked Min-ho's face and card. "The Athena that submitted the intent?"
"I have our president's stance on that..."
Before Min-ho finished, the man waved the card overhead, bellowing. "Sunbae! Athena's here! Director—Athena sent a rep! Come quick!"
To them, Athena was the guardian of their pens. A veiled newbie, but beggars couldn't choose. Unlike Namdo, Min-ho had pledged employment succession.
Athena tossing the rope meant green light. Reporters swarmed instantly, firing questions competitively.
-Employment succession for real?
-Beating Namdo—strategy?
-Does your president know our plight?
Most would fluster, but Min-ho, ex-misinfo chief, handled interviews like breathing. He waited, then replied calmly. "Can't answer yet. Here to relay our president. Need to see Jo Dong-uk."
-This way.
They ushered him to the president's office. Jo, sweating bullets amid cash woes, bowed repeatedly into the phone. "Y-yes, president. I was about to call—the balance as soon as possible... Sorry. I'll call back."
No inflows, creditors hounding fiercer daily. He sighed, brow furrowed.
"President, Athena sent a rep."
"Athena?"
"Yes."
"Got it—out."
Unlike reporters' zeal, Jo's was lukewarm. A perfunctory smile. "Yeonggwang Daily President Jo Dong-uk."
"Pleased to meet you. Athena's Lee Min-ho, agent."
"Sit."
Jo knew Athena was the sole rope, but as a blank-slate startup, it rang hollow. No hope in his posture, tone, eyes. Maybe he'd resigned to Namdo.
"We're desperate, so straight to business. What acquisition price is Athena considering?"
"Something more pressing first."
"Ask away."
"Namdo Group... precisely, did you use Han Du-hak's funds?"
Jo flinched, dabbing forehead sweat with a handkerchief. "Sorry, I'd prefer telling Athena's president directly. Any chance to meet?"
"Busy schedule—no meetings soon. Tell me; I'll relay verbatim."
Athena was the lifeline, but too green to bare all to a mere agent. Min-ho pressed. "We need clarity on Namdo ties. Hard to share?"
"Truly sorry, agent, but I can't."
Min-ho smiled leisurely. "If our president came?"
"Of course—I'd spill everything."
"I get a startup's hard to trust. How about this?"
Min-ho pulled documents proving he was Athena's president, alongside the card.
"What documents..."
Undeniable proof. The "agent" was the boss. Unthinkable. Jo straightened hastily, gaping.
"Now, care to explain your Namdo saga?"