God of Corporate Hunting - Chapter 290



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◈ Episode 290: The Fall of Everly (1)

Nam Woon-myeong called Dan Kirk to check on the mine that Avery had invested in.

Among them, there is a place where particularly strange rumors are circulating.

As expected, it wasn’t long before Kirk sent his report.

In such cases, Kirk’s broad experience in New York was clearly effective.

While reviewing Kirk’s report, Nam Woon-myung’s eyes caught sight of an unusual iron ore mine.

An iron ore mine in the Jharkhand region of India, in the northeast of India and relatively close to Bangladesh.

The lithium mine invested by Kaizen Exploration is located in the northwest of India, in the direction of Pakistan, so although the two mines are in the same north, they are quite far apart.

Nam Yun-myeong diligently searched for photos of the iron mines in the area.

The reddish color of the soil proved that it was a typical iron ore producing area. There were other iron ore mines already developed nearby and an ironworks was also in operation.

Nam Woon-myung, who was absentmindedly flipping through the photos, fixed his gaze on one spot.

“It’s strange.”

He can guess the resources buried underground through photographs or actual landscapes. This ability based on Feng Shui has been effective in identifying lithium mines in the past.

Even from photographs of the Jakhand region, he could easily estimate the iron ore reserves.

However, the photo of the iron ore mine owned by KR Investment Group was somewhat unusual.

Although the iron ore is abundant, it is only superficial. Even if you dig a little deeper, the iron ore content decreases, making it virtually uneconomical.

It was surprising that such a spurious mine existed, even though exploration technology has advanced to the point where it is now possible to estimate reserves with great accuracy.

Because the area is so remote and the iron ore is excessively exposed on the surface, this may have led to an error in estimating the reserves.

“Isn’t this a total scam?”

Nam Woon-myung confirmed the report of the relevant KR investment group.

The reserves were being falsified by a huge amount. KR Investment Group must have noticed this fact as well, so they changed their direction from direct development to sales.

Abu Dhabi Investment Authority was a major LP involved in the Jakhand iron mine, and Adadi Group was being discussed as a possible buyer.

Surprisingly, those two places have a deep connection to him.

I don’t know how Ashur got involved in the iron mine.

While I was thinking about how to deal with it, Shin Cheol-ho, sitting next to me, stuck his head out.

“What is a scam?”

“Huh? There’s a town that only has an iron coating on the outside and calls it an iron mine.”

“What? Is there such a guy?”

Shin Cheol-ho’s gaze turned to the monitor.

Shin Cheol-ho clicked his tongue when he saw the photo of the red soil spread out wide.

“It looks like an iron mine, right?”

“Because the outside is different and the inside is different.”

“I’m not interested in iron ore. How about this instead?”

Shin Cheol-ho handed him his cell phone.

The video playing on the phone was a familiar scene to him.

[what is your job?]

[I am the CEO of a large corporation.]

[Ah! CEO?]

“Have you seen this too?”

“This is unexpectedly so much fun. I was wondering who the guys driving supercars are. And there’s a Korean special too.”

It’s only been a few days since Costa’s visit, but the video has already been viewed over 1 million times.

“But Representative Yoon is here too. With Hyun Chang-min.”

Somehow the number of views was high.

Nam Woon-myung watched the video and then checked the comments.

“Those who aren’t born with a silver spoon in their mouths should drown themselves in the Han River.”

“Hyun Chang-min from Bukseong? Isn’t he a shameless guy?”

“Check to see if that supercar is a corporate car!”

“Oh! That’s Yoon Se-bin next to him? He’s shining brightly today.”

“Didn’t Hyun Chang-min and Yoon Se-bin have any marriage talks? Who is the woman next to Hyun Chang-min?”

“There are levels to being born with a silver spoon in your mouth. Hyun Chang-min can’t even reach the heights of Yoon Se-bin.”

“God Sevin!”

In general, there was a line of insults directed at Hyun Chang-min.

I thought Hyun Chang-min had come to his senses, but people don’t change. Strangely enough, this guy always picks out things that will get him criticized.

Anyway, this is not the problem.

“Cheol-ho, do you know anyone in the Adadi Group?”

There must be someone connected to us since we worked together on the lithium processing plant.

“Yes, but CEO Jang Ho-jun is more certain than I am. He is probably connected to the upper echelons of the Adadi Group.”

The game is basically over.

As for Assur, he can work on it, and for Adadi Group, Jang Ho-jun can step up.

This could be a refreshing blow to the KR investment group.

* * *

After he reported the matter, he received a call from Ashur.

[Thank you, Director Nam.]

“Have you checked?”

[It is true that the mine is owned by KR Investment Group. They are currently in the process of selling it. But is the iron ore reserves real?]

“As far as I know, yes.”

[The reserves in that area vary from one exploration agency to another… … ]

“If it were real, KR Investment Group wouldn’t sell it. They would develop it themselves.”

[That’s true.]

Nam Woon-myung explained all the evidence of the reserves that he had prepared in advance. There is a lot of evidence to prove that the iron ore reserves are far short of the KR Investment Group’s claims.

[Okay, we don’t invest that immorally. We’ll have to get all the money we put into KR Investment Group back.]

“That’s right. There’s no reason for it to become a topic of gossip, right?”

As expected, I could communicate well with Ashur.

He declared his withdrawal from the investment before he even asked.

If the Abu Dhabi Investment Authority withdraws the funds it invested in KR Investment Group, KR Investment Group will suffer from a severe cash crunch for a while.

Since Jang Ho-jun also informed the Adadi Group that the sale of the iron mine had fallen through, KR Investment Group has no way to get the money.

To resolve this crisis, we have no choice but to give up our stake in Bukseong Chemical Energy.

This is the moment when you start to wonder about Everly’s solution.

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* * *

As expected, I got a call from Everly.

She asked me to meet her at the hotel bar like last time.

Nam Woon-myung readily accepted and headed to the meeting place with Shin Cheol-ho.

The reason Shin Chul-ho went along was purely because he wanted to. When I told him that Everly was beautiful, he made a fuss and insisted on going along.

Nam Woon-myeong readily accepted, as there was nothing to lose by adding allies.

Avery was already seated in the same spot as last time.

This time, Chairman Hyun-Seop Hyeon was invited as well, as there were glasses of alcohol in front of the two of them.

“Huh? Do you have company?”

Everly gave me a look of discomfort.

Nam Yun-myeong sat down and introduced himself.

“This is Shin Chul-ho, director of Mega Asset Management. He is said to be a close friend of Catherine of Wonder Fund.”

“yes?”

While Avery was speechless in shock, Nam Woon-myung turned to Hyun Jae-seop.

“Mr. Chairman, is it okay if I join you? It’s a drinking party.”

“Do whatever you want.”

When Hyun-Seop Hyeon gave his permission, Shin-Chul-Ho quickly sat down next to him.

Even though Avery showed his displeasure, he couldn’t help it.

As he emptied his glass, Avery brought up his business.

“Have you thought about it?”

Just like that time, Everly confidently took out the management rights to Bukseong Chemical Energy.

When he didn’t answer, Everly turned to Hyunjae Seop this time.

“Mr. Chairman, if I help Mega Asset Management, you will have to step down. Your younger brother will probably take the place of the chairman.”

“Ugh.”

Hyunjae Seop let out a groan of pain.

The worst case scenario is what Everley mentioned.

Nam Woon-myung said with a sly smile.

“I’m not interested in Mega?”

“Director Nam, don’t show off your guts for no reason. Negotiate like a gentleman.”

“Twice the current price? Do you think that is a normal price?”

Everly took a step back at Nam Woon-myung’s reprimand.

“I see you’re upset. Okay. I’ll give in. I’ll just take 50% more than the current price. Considering the management premium, I think that’s a reasonable price.”

Although he smiled as if nothing had happened, Nam Woon Myung could easily sense Evely’s burning emotions.

“Average, price negotiation works when there is a will to buy. We don’t need the stake that KR Investment Group has.”

“Are you not interested in Bukseong Chemical Energy?”

“Have you done your equity calculations properly?”

Evely was dumbfounded by Nam Woon-myung’s reprimand.

“what?”

“The shares we own. Korea Asset Management and Mega Asset Management.”

“Of course I calculated it accurately. If I hadn’t done that, would I have done something like this?”

Everley was confident. The current sub side accurately calculated the shares owned, and the current eun side did the same. Changes in the major shareholder’s shares are subject to reporting obligations, so it is difficult to lie.

Of course, the hidden friendly stakes on both sides are a problem, but this has also been analyzed to the fullest extent. If the National Pension Service does not intervene, it is more or less correct. In any case, even if it is not the 10% that Chairman Hyeon-seop has entrusted, it is clear that the additional stake held by KR Investment Group will play the role of a casting vote.

Nam Yun-myeong burst into laughter.

“Avery, you overlooked two things. No matter what the price is, Chairman Hyun-Seop cannot afford to buy it. He has no desire to buy it either. Isn’t that right?”

“Ugh.”

Hyun-Seop groaned lightly because he had accurately seen through the situation.

The chairman of the world’s best Bukseong Group has no money. It would be funny to others to hear this, but it is the reality.

“It doesn’t matter. We can lend it to you.”

Everly kept pestering me to come.

“And you miscalculated the stake of the Korea Asset Management consortium…….”

“Huh? No way?”

“Have you checked the Kai Resources Exploration shares?”

When Bukseong Life was in chaos, Kaijae Resources Exploration acquired shares from Bukseong Chemical Energy through a stock exchange.

The goal was to secure a stable income line, and since it was Tesla’s directive, no one paid any attention.

“As you can see if you check, Kai Resources Exploration is not part of Kai Group, but is a subsidiary of Mega Asset Management.”

“That can’t be… But it’s not enough to take over management rights alone, right? If the chairman and I join forces.”

“There’s more friendly equity. Tesla equity. It’s quite a lot.”

“Why is Tesla raising its hand for you?”

Everly got angry, as if she found it absurd.

Shin Cheol-ho, who had been watching, quickly intervened.

“I have a friend there. He’ll die if I tell him what to do.”

“yes?”

Of course, I didn’t say who. Either way, the result is the same. Tesla will always raise their hand.

“That’s true. You can check it out.”

At Nam Woon-myung’s confident assurance, Evely asked Shin Cheol-ho again.

“You! What are you? How is it that everyone in town is your friend?”

“Ah! Catherine? At that time, Catherine was crying because she was cut off after drinking water at Bukseong Life Insurance. Poor thing, she didn’t even have money to eat. So I found her a hotel room… and anyway, I put her on a plane and sent her off.”

“Th-Then you’re that, that guy? You said you were together for a few days…….”

Everly’s eyes scanned Shin Cheol-ho absentmindedly.

“I see you heard that. To Catherine. I said I was fine, but Catherine said thank you.”

“Ugh.”

The stake of the Korea Asset Management consortium is not more than the combined stake of Chairman Hyeon-seop and KR Investment Group.

In theory, it is a victory for Hyunseop and Everly.

However, the difference is not that big, so if Nam Woon-myung decides to buy it in the market, he can catch up without a big shock to the market.

The problem is that KR Investment Group is in financial difficulty. The only stock that can be disposed of easily is Bukseong Chemical Energy, and the only trading partner is the Korea Asset Management Consortium.

As a result, Everly’s gambit was not successful.

“Time is on the side of the Korea Asset Management Consortium.”

Nam Woon-myeong’s declaration pierced the hearts of Everly and Hyun Jae-seop. As time passed, the two of them would not be able to endure it anyway.

Everly’s shoulders slumped.

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