I Am the Third-Generation Heir of a Conglomerate - Chapter 431



Only Noblemtl

431. Prince’s Rebellion (1)

The next day.

I had a meeting with Chairman Sungjae Joo of Daehan Tire.

Since he was a man of similar age to my grandfather and was still running the business, I bowed my head very politely to him.

“I was really surprised that the chairman wanted to see me like this. I heard a lot about the chairman from my grandfather. He said that it was all thanks to the chairman’s ability that Daehan Tire was able to become the number one tire company in Korea.”

“Hehehe, you put gold on my face. Compared to Taewoo Group, this is a worthless group.”

It was Chairman Joo Sung-jae smiling with a kind look.

But his eyes were sharp, and I could tell that he still had excellent judgment.

“Thanks to Daehan Tire’s outstanding technological prowess, we have been able to solve many of the problems with electric vehicle noise and load.”

“No. Thanks to Taewoo Group recognizing the problem first and informing us of improvement measures, we were able to develop tires specifically for electric vehicles. All we did was add a few more ideas.”

Chairman Joo came out with a very humble attitude.

In some ways, Taewoo Group and Daehan Tire could be seen as having a relationship of A and B.

Taewoo, Kai, and even GM. It was Daehan Tire that supplied tires to many Taewoo Group automobile affiliates.

But Daehan Tire was by no means a typical subcontractor.

It was a company with sales exceeding 7 trillion won and also possessed outstanding technological prowess.

Still, the reason he appears in such a humble manner is probably because he has something to ask.

To get the chairman talking, I stepped forward first and scratched an itch.

“Is there a problem? You look uneasy.”

“Haha, as I get older, I have more worries. In particular, the issue of succession really gives me a headache.”

“Do you want to discuss the succession issue with me? I’m sorry, but Taewoo Group does not get involved in the succession issues of other groups.”

“I have already decided on the successor. Can you help me protect the company by choosing the son I have chosen?”

The chairman had four children.

So even if the succession was decided, there was a high possibility that problems would arise.

If the current chairman were to step down, his successor would need strong allies to maintain his position.

Where else can you find an ally as strong as Taewoo Group?

Who would attack the successor who is supported by the largest customer of Daehan Tire and the number one business group in Korea?

“Do you plan to pass the succession to your eldest son?”

“No. If I had intended to hand it over to my eldest son, I wouldn’t have come to see Chairman Kim. When it comes to running a company, my second son is far better than my eldest son.”

Daehan Tire was also an important partner to Taewoo Group.

Daehan Tire was essential for the development of tires exclusively for electric vehicles, and the current relationship had to be maintained even if Chairman Joo stepped down from his position.

“Can I make a suggestion?”

“I am willing to accept any proposal from Chairman Kim.”

“Taewoo Motors affiliates are considering investing in Daehan Tire. If it’s an investment for the development of tires exclusively for electric vehicles, no one will think it’s strange.”

There was no better means of supporting a successor than a share.

Besides, if you use the excuse of electric vehicles, no one will have a problem with equity investment.

“Can I ask you about the size of your equity investment?”

“If it’s around 2.5 trillion won, wouldn’t it be possible to secure a stake of around 20%?”

“Are you sure about that?”

“And I promise that the 20% stake held by Taewoo Group will remain as Chairman Joo’s friendly stake.”

“If you could do that, it would be perfect. Thank you very much.”

It was never the case that more than 2 trillion won was invested to solve the problem of succession.

This decision was made with the aim of accelerating the development of tires exclusively for electric vehicles and strengthening the partnership between Taewoo Motors affiliates and Daehan Tire.

“Instead, I would like you to use all the money invested to develop electric vehicles. Please use it to build a dedicated RND center and expand related departments.”

“Of course, it should be used that way. We will prepare to make equity investments through paid capital increase as soon as possible.”

The chairman, who was nearly eighty years old, was expressing his sincere gratitude.

It was the fate of the Korean chaebol families, and we were able to confirm once again that the biggest headache was succession.

***

The succession problem is not just a problem for Korean conglomerates.

A few days later, I heard about a succession process that was on a completely different level from the succession issue at the Daehan Tire Group.

This was information that David personally came to Korea to share.

It was also news that had not yet been officially announced.

“Defense Minister Bin Salman has finally drawn his sword. He is said to have deposed Crown Prince Nayef and appointed Bin Salman as the new crown prince.”

“The Prince’s Rebellion literally broke out.”

“And they say they are going to detain several members of the royal family one after another.”

It was Bin Salman who had been waiting for a long time, sharpening his knife.

Because he had prepared thoroughly, his sword was sure to move quickly and sharply.

“Only the empty-handed can properly dance the sword dance.”

“It’s not just a sword dance. They’re going to detain all the royals in one hotel. I hope they won’t take more severe measures.”

“But they are still royalty. The wealth accumulated through corruption will be returned to the national treasury, and the royalty will be confined to a hotel. They will not be imprisoned or sentenced.”

First of all, I boldly drew my sword.

However, the faction of former King Abdullah still existed in Saudi Arabia.

The moment they use the enormous financial power they have accumulated so far, the purge process becomes very complicated.

Of course, I already knew the outcome.

Bin Salman’s overwhelming victory.

But there was a variable that caused the purge to start almost a year earlier.

My intervention allowed for faster gathering of information on corruption, which in turn brought forward the timing of the purge.

“If there is a storm in Saudi Arabia, oil prices could fluctuate again.”

“If the Abdullah faction moves, then that is possible. What is the atmosphere like?”

“The previous king’s faction is scattered. The moment they gather, the result is uncertain. Only by completing the purge before they gather can Bin Salman succeed.”

David also had many sources in Saudi Arabia.

In the case of Vice Chairman Han, information was confirmed through a financial company belonging to the financial tower.

And now a vice president who had obtained new information came rushing in.

“It is said that over 2,000 accounts have been frozen in Saudi Arabian banks. This information came from a British financial firm that frequently deals with the Saudi royal family.”

“You’re saying you’re going to block the accounts first. It’s true that war can’t happen without military funds.”

“The Saudi government can block Saudi bank accounts, but it cannot do anything about foreign accounts. If they use the money in foreign accounts, it could even lead to civil war.”

The civil war should not have happened.

The unforeseen variable was civil war, and if that happened, the situation would be completely different from before the regression, so all the information I knew would go down the drain.

“Can you contact Bin Salman?”

“I haven’t tried contacting you yet. If I try to contact you while the purge is in progress, it could cause trouble for both of us.”

“I guess we’ll have to wait for Saudi Arabia to contact us first.”

We continued to gather information and wait for contact.

It wasn’t until 4pm that I heard from Bin Salman.

[Is there anyone next to you?]

“There’s no one. The wiretapping prevention system is also in operation, so even the FBI or CIA can’t wiretap.”

[Hyung, phew. I’m doing well, right?]

It was just empty flesh with a trembling voice

But it sounded like he was shaking from excitement, not regret or nervousness.

“You’re doing well. Time is limited, so if you need any help with anything, just let me know.”

[First, we arrested about 200 Saudi royals and high-ranking officials and held them in a hotel. They are the people on the list my brother gave me. We will arrest the rest of them by the end of today.]

We have been investigating corruption among the Saudi royal family and senior officials for a long time.

The list of people who amassed money through illegal means has well over 500 names.

It was Bin Salman who declared that he would arrest all 500 royals and high-ranking officials within a single day.

“Once the location information of the remaining high-ranking officials is confirmed, I can send it to you?”

[I would appreciate it if you could do that. I have the Saudi Air Force on standby 24 hours a day in case I can escape on a private plane. I can never escape overseas, so you just need to find out where I am in Saudi Arabia.]

Bin Salman had secured control of the Saudi military and police.

So, you were able to find the locations of the royal family and high-ranking officials without any help from me.

But this purge was a race against time, so Bin Salman asked for my help to arrest as many people as possible quickly.

And Taewoo Group had the ability to do that.

The moment royalty and high-ranking officials use social media, their location information can be confirmed.

Director Chun has created an algorithm that can track not only the 500 high-ranking officials on the list, but also their families, relatives, and even the housekeeper’s SNS.

“I’ve already secured the locations of several. I’ll send them right away.”

[I can’t trust anyone else but my brother. I suspect that the person next to me is also a spy hidden by the Abdullah faction. However, no matter how much money the Abdullah faction throws around, my brother will never be persuaded.]

It was Bin Salman who had strong faith in me.

Considering his situation, it was completely understandable.

With a purge approaching a civil war, it must have felt like there were enemies on all sides.

“I will let you know as soon as I confirm who has gone over to Abdullah’s faction. But keep one thing in mind. There must be no too much bloodshed. And the purge must be prevented from spreading to the outside as much as possible.”

[I confiscated your electronic devices, including your cell phone. And I don’t plan on taking your life unless it’s absolutely necessary. I will spare your life even if you want to die before you spit out the money I stole.]

The purpose of the purge was not simply to seize power.

Another important objective was to return the funds accumulated in the coffers of the royal family and the upper class to the national treasury.

The will to do whatever it takes to achieve one’s goal was evident in Bin Salman’s voice.

“If necessary, I can send Taewoo Group security personnel.”

[That can’t be. If the security is done by a foreigner, then there will be talk. It should be known as a purge to clean up corruption in the Saudi royal family.]

I thought he was excited, but he was actually more calm than I thought.

I was confident that the purge would be successful, as his judgment and focus seemed better than ever.

“I will update the amount of funds for the people on the list and send them again. It will be a great help in recovering the national treasury.”

[If you can help me to that extent, that’s enough. Once this purge is over, I’ll definitely repay you greatly.]

“What’s the point of repaying someone between us? Just don’t get hurt. Let’s have a drink and make the most of today’s events.”

[I hope I can see your face this year. I’ll hang up now. I got word that a prince has been captured.]

The real Prince’s Rebellion has begun.

We invested a lot of time into this and it had to be successful.

Only then could Saudi Arabia become a perfect ally, and Taewoo Group could take the lead in the future US-China hegemony struggle.