Becoming a Shareholder in Someone Else's Company (2)
Jangbaek Corporation was an unlisted company, so nearly all information about its shareholding structure, its executives, and everything else remained strictly confidential. The public often wondered why the JB Group maintained this bizarre governance structure. Releasing even a portion of the massive shares held by Jangbaek Corporation onto the market would clearly benefit the JB Group both in terms of market capitalization and operational flexibility, yet the group showed no intention of doing so.
Some analysts pointed to this closed governance structure—alongside the rapid spread of smartphones in the 2010s—as one of the reasons QS Group had managed to overtake JB, which had held the top spot in Korea's corporate rankings until after the IMF crisis. Because of this, countless people wanted to buy shares in Jangbaek Corporation, but since the shares never appeared on the market and it was nearly impossible to even identify the current holders, their desire remained nothing more than a wish.
Rumor had it that Jangbaek Corporation's shares were held exclusively by the Jang family, the controlling family of the JB Group. Since my client Yoon Seung-hyun's wife, Jang Mi-ye, was part of that family, she likely held at least some shares in Jangbaek Corporation, even if not a large amount.
That was what I was after. By securing even a single share of Jangbaek Corporation, I would gain the ability to participate in the JB Group's management or, at the very least, observe and hear about their decision-making process. This would carry far more weight than acquiring tens of thousands of shares in a QS Group affiliate. I would rise to the position of an insider within a rival company—a position that Seong-gyun and Je-gyun could never attain. While they fought tooth and nail within the QS Group, I would be able to wield a massive external force.
Given that I was overwhelmingly disadvantaged compared to Seong-gyun and Je-gyun in terms of share ownership within QS Group affiliates, this qualitative difference was essential. Though it was still far in the future, this small foothold secured within enemy lines would become a weapon capable of striking at their vital points when I eventually seized control of the QS Group and waged an all-out war against the JB Group.
After drafting the retainer agreement with Yoon Seung-hyun, I listened to more details about his marriage.
"How did the two of you first meet?" I asked.
Yoon Seung-hyun gave a bitter smile. "You know I used to be an entertainer, right?"
"Yes. It was about ten years ago, wasn't it? I wasn't interested in the entertainment industry at all back then, but even I had heard of your name. You must have been quite successful."
"That's right. Those were good times. While I was active, Jang Mi-ye one day called my group to perform exclusively for her and her friends. The pay was good, so I just thought it was another gig and went."
"That was your first meeting, then."
"It was. And that first meeting went much further than it should have. I still don't know if she called us with that intention from the start, but right after the performance that day, I ended up in bed with Jang Mi-ye. We were young and healthy, I suppose, because our daughter—the one I'm raising now—was conceived that very night."
I nodded. Now I understood the circumstances. It was common for chaebol sons or grandsons to marry female celebrities, but the reverse—male celebrities marrying into chaebol families—was rare. Without this particular situation, it probably would have been impossible.
"An unplanned marriage followed by childbirth and child-rearing must have been difficult for both of you."
"It was. Her family refused to allow abortion or single motherhood, so we got married. They also told me to stop appearing on TV, so I quit my entertainment career."
"What made you decide on divorce?"
Yoon Seung-hyun picked up the divorce complaint lying in front of him. "You just saw it. I didn't decide anything. I was unilaterally notified. Since it's come to this, I'm going through with the divorce too."
"The complaint lists your infidelity as the main grounds for divorce. Even if it's uncomfortable, you need to be honest with me so I can help you to the best of my ability. Did anything like that actually happen?"
"Of course not. Unless I'm taking my daughter out, I'm practically locked inside the house. Where would I meet another woman? Jang Mi-ye started saying that less than a year into our marriage—accusing me of cheating."
I let out a sigh. It was pathological jealousy.
"Living like that for ten years must have been exhausting."
"It was. I only endured it for my daughter's sake. If not for her, I would have asked for a divorce first. Being confined to the house like livestock while constantly being suspected—it made me wonder what I was even doing. Want to hear something even more ridiculous?"
"What is it?"
"Jang Mi-ye, claiming it was revenge for my supposed infidelity—which never happened—actually met other men multiple times, saying she would cheat on me in return. She was so blatant about it that I have quite a bit of evidence."
I almost laughed out loud. Jang Mi-ye really was a unique character.
"So you agree to the divorce as well."
Yoon Seung-hyun's eyes grew moist, as if recalling all the grievances he had endured. "Yes, that's right. But I can't accept everything else written in there. I gave up a successful entertainment career for ten years and handled all the housework and childcare, yet instead of giving me a single won, they want me to pay them thirty million won?"
"Yes. That part can be sufficiently refuted. Do you have any idea how much property Jang Mi-ye accumulated during the ten years of marriage?"
"I'm not sure. She never told me the details, but between her nominal salary from JB Steel, her salary from M Mart, dividends from her shares, and so on, it must be at least two or three hundred billion won. There seemed to be many other sources of income as well."
Good. With that much money involved, the case could proceed properly.
"With that much wealth, is there really no property under your name?"
Tears finally streamed down Yoon Seung-hyun's face. He quickly wiped them away with the back of his hand, as if unwilling to show me that side of himself.
"Even you think it's absurd, don't you? She's that greedy. If she could, she'd put even a single spoon or plate in the house under her own name. I lived off whatever allowance I occasionally received, and when that wasn't enough, I chipped away at the savings I'd accumulated during my entertainment days."
"That must have been incredibly difficult."
"More than anything, it hurt the most when my daughter asked for allowance and I had to decide whether to ask my estranged wife for a few thousand won or open a negative-balance account."
"I see. So you want to receive as much money as possible from Jang Mi-ye and also obtain custody of your daughter?"
When the conversation turned to his daughter, Yoon Seung-hyun continued in a choked voice. "I haven't sorted out my thoughts on custody yet. Jang Mi-ye only gave birth, while I've essentially raised her alone for ten years, so I want to keep raising her. But thinking about my daughter's future, maybe growing up in a chaebol family would be better after all."
"You don't need to decide right away. Let me know once you've thought it through."
After hearing Yoon Seung-hyun's story and grasping the outline of the case, a judgment document appeared before my eyes.
[Ruling 1. The plaintiff and defendant shall divorce.]
[Ruling 2. The plaintiff shall pay the defendant 452,810,000 won as property division.]
The plaintiff in this case was Jang Mi-ye, who had filed the lawsuit first, and the defendant was Yoon Seung-hyun, who had come to me with the complaint. So Yoon Seung-hyun winning made sense, but... the amount was wrong. Only 452.81 million won? Based on what Yoon Seung-hyun had just told me, it should be at least ten times that—possibly even a hundred times more. Only then would thirty percent of that amount, my share, be substantial enough to justify demanding Jangbaek Corporation shares in return. Thirty percent of 452.81 million won was roughly 135 million won. Jang Mi-ye's side would simply wire that amount in cash and be done with it.
"Excuse me, Yoon Seung-hyun. Could I take another look at that complaint?"
"Of course. Here you go."
When I received the complaint from Yoon Seung-hyun, I noticed an important name I had missed on the first page because I had been fixated on Jang Mi-ye's name.
— Kye Chan-sik.
I distinctly remembered the name because it was unusual. He was the former Seoul High Court Chief Judge who had submitted his resignation and joined a law firm after his promotion to Supreme Court Justice had effectively been blocked. Seeing this name, I understood why Jang Mi-ye's side had pushed forward with such a disadvantageous lawsuit. They had hired a lawyer with decades of judicial experience who had only recently retired, clearly intending to leverage jeongwan-yeou.
Kye Chan-sik wasn't just a former judge—he had also taught at the Judicial Research and Training Institute for quite some time, so there were hardly any mid-level legal professionals who didn't have some connection to him. In terms of connections within the legal community alone, his network was far broader and deeper than Oh Il-mu's.
Looking at the judgment document that had appeared before me, I realized that if I hadn't properly countered the jeongwan-yeou, I would have been trapped in their strategy and suffered a crushing defeat. Using my upgraded ability, I erased the opposing lawyer's name and examined the complaint again. A new judgment document appeared.
[Ruling 2. The plaintiff shall pay the defendant 41,604,870,000 won in alimony and property division.]
That's more like it. If we could exclude jeongwan-yeou in this case, our victory was certain. If we obtained a judgment ordering payment of 41.06 billion won, then thirty percent of that—approximately 12.3 billion won—would be substantial enough to demand Jangbaek Corporation shares in return.
I handed the complaint back to Yoon Seung-hyun and smiled lightly. "I believe we can win this case."