Chapter 62
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Translator: Wjin
Chapter: 62
Chapter Title: The Battlefield of Verbal Warfare
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"Shall we start with Seonjin Trading first?"
Im Myeonghan's words made Im Myeongho's face stiffen for a moment.
He harbored endless rivalry toward Im Myeonghan.
Im Myeonghan knew it well and always seized opportunities to remind him who truly held the reins of the Seonjin Group.
"Do we really have to talk about Seonjin Trading? I'm the president, but in terms of shares, you're the real owner, aren't you, brother?"
"On official occasions, address me as Chairman. And since you're the one running it directly, act like a proper president."
"Act like a proper president..."
Im Myeonghan and Im Myeongho glared at each other, locked in a silent staring contest.
The atmosphere around them grew icy cold.
But then, in the hushed conference room, the sound of someone sipping tea rang out.
It was Kangyul drinking the tea in front of him.
Slurp―
'It's not who speaks that matters. Jeez.'
As Kangyul drank, Im Myeonggi across from him followed suit with a sip of his own tea.
The sharp tension eased a bit as the only two kids in the room acted like they had no clue what was going on.
Im Myeongho cleared his throat awkwardly and began briefing on Seonjin Trading's performance.
"As everyone knows... Seonjin Trading achieved a historic domestic milestone this year with $12 billion in overseas contracts. We built a thermal power plant in Saudi Arabia, and the resort division maintained its usual strong results."
"Good. But from now on, put more effort into the fashion division too. If that's too much, spin it off and hand it to Myeongseon."
Fashion was the only division in Seonjin Trading that was bleeding money.
And the person in charge of that division was Im Myeongho's wife.
Im Myeongho could only nod without a word.
"Next up, Seonjin Securities."
After that, a tedious stretch of speeches unfolded.
Sales this, operating profit that―to Kangyul, it all sounded the same.
For a conglomerate like Seonjin Group with 16 listed subsidiaries, the meeting seemed endless.
'This is boring.'
Kangyul stifled a yawn.
Finally, it was Midas Investment Company's turn.
Jang Deokcheol, visibly tense in front of everyone, glanced at Kangyul before starting.
"Ahem. Midas is currently managing 12 channels through our MCN business. Among them are 'What's Up Man' with 3 million subscribers, 'Meerkat's Horror Games' with 2 million, and the travel channel 'Survival in Every Corner of the World' also with 2 million."
'Survival in Every Corner of the World?'
It was a channel Kangyul had never heard of.
Apparently, a lot had changed while he couldn't make it to the office.
As Kangyul tilted his head, Jang Deokcheol added an explanation.
"Oh, 'Survival in Every Corner of the World' is the channel where that guy I mentioned before―the one caught in the African civil war―uploads his footage."
It almost looked like Jang Deokcheol was reporting directly to Kangyul.
"Beyond that, our Midas pro gaming team channel and pro fighter Jeong Chansung's '[Introduction to Fighting Studies]' have recently surpassed 500,000 subscribers, among many other achievements."
"What kind of benefits do you get from having that many subscribers?"
The balding man seated on Im Myeongho's side tossed a question at Jang Deokcheol.
Most people here probably knew next to nothing about the YouTube business.
"The more subscribers, the higher the ad rates, and the revenue varies wildly. For example, 'What's Up Man' with 3 million subs charges 50 million won per branded ad, and including other ads, they pull in about 500 million won."
"500 million a year? That's not as much as I thought."
"No, that's monthly. Annually, it's around 6 billion. Factoring in all channels, Midas MCN is projected to earn about 50 billion won this year."
The balding man gaped, speechless.
Jang Deokcheol stared him down for a moment before turning back to Kangyul and continuing.
"Now, onto Midas Mutual Savings Bank. We currently operate 5 branches, with net profit of 6.9 billion won and a capital adequacy ratio of 18.4%. As for total assets, the exact figures haven't arrived yet... my apologies."
"What kind of meeting is this where you can't even prepare your data properly?! You think you can handle being president like that?!"
The balding man seized the chance to berate Jang Deokcheol loudly.
Jang Deokcheol just hung his head.
"Total assets is something you could find out with a quick call. How do you not know that?"
Even the president of Seonjin Securities chimed in, looking displeased.
It was obvious Jang Deokcheol was deliberately holding back.
"Exactly. What, too embarrassed because the assets are so pathetic?"
As the balding man's words grew harsher, Im Myeongho lightly tapped him as if to rein him in.
The man promptly shut his mouth.
Even amid it all, Jang Deokcheol glanced at Kangyul.
That's when Kangyul realized why he hadn't spoken up.
'Ah, it's because of the money I deposited.'
If they learned that massive sum belonged to an individual, questions about whose it was would inevitably follow.
Jang Deokcheol had stayed silent to protect Kangyul.
'Sigh.'
Kangyul nodded at Jang Deokcheol.
Meaning, just say it.
'They wouldn't dare take that money, would they?'
"...As of now, total assets stand at 3.3479 trillion won."
"...3.3479 trillion?"
It was more than the total assets of most regional banks.
Glancing just at the 347.9 billion made it seem fitting for a savings bank.
But that 3 trillion figure was on another level.
"Yes. Yesterday afternoon, an individual investor deposited about 2.4 trillion won into an account."
"Hmm. Do you know who this individual investor is?"
Im Myeonghan, who had been observing silently until now, finally spoke.
Seonjin Electronics was holding 20 trillion won in cash in 2013.
Securing 2 trillion from such an investor would be an incredible boon.
"...I know him well."
Jang Deokcheol still looked at Kangyul.
'Ugh, this is gonna get annoying again.'
"Who is it? Is there even anyone in Korea who'd deposit that much cash into a regular savings bank? Some foreign corporate exec?"
Jang Deokcheol raised his hand and pointed straight at Kangyul.
Kangyul scratched his head awkwardly and spoke up.
"Heh heh. It's me."
It was only natural that everyone's faces in the room filled with shock.
"...K-Kangyul, where did you get money like that?"
Park Jeong-a stammered in bewilderment.
Kangyul forced a casual grin and replied.
"Dad said I could trade stocks, right? I made it doing something like that!"
"...Something like stocks?"
"Yeah! This time's earnings are mine, so I'm not giving them to Midas Corporation or anything!"
No one could open their mouth at the sight of Kangyul's beaming smile.
Even Im Myeonghan felt his mind go blank.
That's when Im Myeonggi cautiously asked his mom.
"Mom, is 2 trillion a lot?"
"...Be quiet!"
Im Myeonggi pouted sadly.
The Midas presentation continued, but everyone's minds were now branded with Kangyul.
'How could an elementary kid make 2 trillion? Overseas futures options?'
It might be possible if he went all-in with full leverage 100 times in a row.
But the odds were as absurd as winning the lottery 10 times consecutively.
"...That's all."
As Jang Deokcheol finished his report, Kangyul clapped.
It looked just like a boss proudly watching a subordinate.
'...The rumors must be true. No, he's even more than the rumors! By the time that kid becomes chairman, Seonjin might blanket the world!'
The subsidiary presidents' minds gradually filled with thoughts of Kangyul.
Not Im Myeonghan, not Im Myeongho, but Kangyul.
And that atmosphere persisted through the meal that followed.
"...Hello! Allow me to reintroduce myself. I'm Lee Nakyong, president of Seonjin Securities! It's an honor!"
"Ah, I see. Since you're the securities president, mind if I ask you something?"
"Of course! Anything!"
"I made a small investment of about 200 billion won, 100 billion each in Naver and Kakao. What do you think'll happen?"
'200 billion as a small investment? He must be testing my skills!'
Lee Nakyong racked his brains harder than ever.
And he carefully ventured,
"That's a fine idea, of course, but I believe buying Seonjin stock would be better in the long run for capital gains, dividends from operating profits, and shareholding influence."
"Hmm, is that so? What's the current price of Seonjin Electronics stock?"
"Yes, around 1.2 million won."
Im Myeonghan chuckled as he watched.
Lee Nakyong ignored everyone else, focusing solely on Kangyul.
True to his rise from regular employee to president, his judgment was swift.
'Hmm, Seonjin Electronics at 1.2 million won? I remember they did a 1-for-50 stock split later, but even during COVID, it hovered near 50,000 won. Maybe I should buy some?'
"Hmm. Then out of the 2.4 trillion in the savings bank, I'll pull 1 trillion to buy Seonjin Electronics stock. Talk to our Jang Deokcheol about handling it."
"...I-I'll devote my life to it!"
"Haha, no need to work that hard. Just do the basics. The basics."
Kangyul glanced at Jang Deokcheol, who was eating nearby, and said,
"I'll give full authority to President Jang, so work well with President Lee Nakyong."
"Understood."
The other subsidiary presidents followed suit, greeting Kangyul one by one.
Even the balding president who had been glued to Im Myeongho's side.
'...This is ridiculous.'
Im Myeongho glanced at Kangyul, then at Im Myeonggi, and let out a hollow laugh.
The stark contrast was too much―Im Myeonggi happily gnawing on ribs, oblivious, while Kangyul smoothly bantered with the presidents.