Son of a Conglomerate at the Highest Level - Son of a Conglomerate at the Highest Level chapter 85

＜Same event, different course of action＞

According to the Blue House’s official announcement, chemical plant fires were leaning towards ‘safety accidents’.

The presidents of Taesung’s affiliates all opened their mouths.

“It is a work team made up of workers who have just been put in from Woogwang. Wouldn’t the safety training of the staff be insufficient?”

“I would have had to do unfamiliar work in an unfamiliar work environment. Accidents happen in an instant.”

“It seems that Woo-gwang handled it complacently. I heard that a large amount of inflammable substances were found inside the factory.”

Grandpa tapped the table with his fingertips.

“Anyway, you didn’t point to arson caused by resentment as the cause of the fire, or an explosion or an air raid related to North Korea?”

“For now, yes. Shouldn’t we wait for the announcement from the Blue House in the future?”

Grandpa looked back at the presidents of affiliates.

“How is Woo-gwang’s movement?”

I didn’t know what to ask.

It was a question of how serious it was.

“With Woo-gwang, everything from the head office to affiliates was blown upside down.”

“It seems that the presidents and executives of all subsidiaries gathered together and entered into a countermeasure meeting.”

“Woo-gwang’s secretary’s office is sending a vehement protest to Taeseong so that the telephone line is on fire.”

“Honestly, as Woo-gwang, if I could, I would want to pass all the responsibility for the safety accident on our side.”

It was such a big accident.

Because the total number of casualties was close to two hundred.

That is why the presidents of Taesung’s affiliates had a dark complexion.

“Perhaps our Taeseong will also find it difficult to avoid being blamed.”

“It was a chemical company co-founded with Woogwang from the beginning, and Taeseong has been managing it ever since.”

“It has only been 10 days since Taesung Chemical was handed over to Woogwang. If there was a problem with facility management…”

“In the process of depriving Taesung Chemical, things went wrong and I kept my mouth shut to cause retaliation issues…”

The voices of the CEOs of affiliates are gradually diminishing.

It was easy to get caught up in the conversation behind the scenes.

Someone just closed their eyes and said coolly.

“If Woo-gwang hangs up because of Tae-seong, it’s obvious that the chairman or president will be in trouble. I think we need to urgently come up with a countermeasure for this!”

“you’re right. First, let’s get in touch with the accident detection team. I have to somehow get out of my way so that the name Taeseong doesn’t come out.”

“I will also contact the Blue House Secretariat!”

“Then I block the media…”

bang! bang! bang!

Grandpa hit the table with his palm.

“We haven’t committed any crimes, so why would we do such a dirty thing?”

“Chairman, if by any chance our Taeseong gets entangled in this…”

“Why did Wookwang Construction attract the eyes of the Blue House when it forcibly demolished the Guro-dong shantytown last time? It’s because they roasted the media and shut the mouths of the police and prosecutors, saying they would take care of things after they hit the job.”

Only then did the presidents of affiliates shut their mouths.

However, he still seemed unbending, saying, ‘If we can stop it by any means and methods, we must stop it.’

Grandpa clicked his tongue.

“It is better to lie on your face and beg for forgiveness from Your Excellency, than to act shallowly to make amends.”

It was the method my grandfather had chosen in the past.

“The best way is to not get entangled in this in the first place.”

I wonder if the presidents of affiliates don’t know that.

The second uncle said in a low voice.

“If that was possible, the presidents of all affiliates would not have gathered and held an emergency meeting like this. Taeseong has already been entangled, and the accident has already happened, right? Now is the time to come up with measures.”

“well. Who said that Taeseong was involved in the Wookwang chemical accident? Boss Sim!”

“Yes, Chairman.”

Grandpa looked back at Sim.

“You answer yourself. Is there anything to hold the Blue House responsible for the Taeseong Wookwang chemical fire accident?”

“It can’t be. Wookwang Chemical can declare that it has nothing to do with Taesung.”

President Shim cut it off.

“When we handed over Taesung Chemical, we took care of this issue clearly. Wookwang’s Chairman Kim signed and sealed the matter, and Wookwang’s former affiliate presidents acquiesced to it.”

The presidents of Taesung’s affiliates murmured.

“What do you mean?”

“As I handed over Taesung Chemical, I acknowledged that everything belonged to Woo-Kwang from that time on. I confirmed that all the management and responsibility of the facility belonged to Woo-Kwang. Taesung Fire & Marine Insurance was also terminated and handed over.”

“Are you saying that all the strings related to Taeseong were clearly cut during the negotiation process?”

“Yes, as soon as the Taesung Chemical merger and acquisition agreement was signed and sealed, the people on the Taesung side agreed to leave with only their bodies. Didn’t I even take my nameplate with me?”

Grandpa smiled contentedly.

“President Shim’s insight is very surprising. I probably didn’t expect this to happen, but it was handled very neatly, as if looking ahead. good job.”

“It’s an overstatement.”

“I was already fed up with Woo-gwang and the blood-drying nerve war because of Taesung Chem. Passed it over hotly, and dug proper bait and traps. It was also President Shim. I trusted and paid for it.”

“Thank you, Chairman.”

My aunt raised her hand.

“I find it hard to believe? If Woo-gwang had bought a stake in Taesung Chemical, it was a bank and a private bond market, so it had to be exciting. It is enough to raise 15 billion. But it’s not enough that the market is quiet, so I can’t hear a single rumor?”

A sharp, high-pitched voice sounded like a quarrel.

The presidents of the affiliates also nodded in agreement.

“Couldn’t you just hand over the stake just because the marriage broke up? Marriage is engagement, business is business. In addition, Shim submitted his resignation immediately after pushing for the merger and acquisition agreement. Am I the only one who doubts this?”

Aunt crossed her arms and snorted.

“I worked with Woo-gwang and made a very unfavorable contract with Tae-seong. So, the merger and acquisition of Taesung Chemical, which took at least a few months and at most several years, was passed in a snatch in just one day. no?”

The longer the aunt spoke, the colder the eyes of the presidents of Taeseong’s affiliates grew.

“I wonder why a person who has already given up the title of president of an affiliate can attend the meeting of Taesung’s presidents. How are you going to explain this?”

“That is a valid question. First of all, before explaining it, let’s talk about it while looking at this.”

President Shim got up from his seat and started handing out the copies he had prepared.

“I brought the contract in question because I thought I should definitely address this issue. Please note.”

The presidents of Taesung’s affiliates rummaged through the documents with curious eyes.

“Is this the Taesung Chemical merger and acquisition contract that President Sim was entrusted with?”

“I heard that Woo-gwang sent an ok sign right from his seat?”

“What kind of honest condition did we put up so that the strict and meticulous nobleman… hm?”

The presidents of affiliates soon opened their mouths.

“A three-page contract? Is this the end?”

“No, what is this again? While taking all of Taesung’s shares, a promissory note worth 15 billion won…!”

“Ha, besides, the bill issuer is Wookwang Construction, not the holding company of Wookwang Group! Would Wookwang Construction be able to afford 15 billion won?”

The presidents of affiliates widened their eyes when they saw President Sim.

“Sir, how did this happen? You’re asking what the hell was the spirit of writing such a contract!”

“Taesung’s loss is not the only one! From the moment the merger and acquisition agreement is signed, all movable and real estate belong to Woogwang?”

“Did you lose hundreds of millions of dollars by sitting without even tidying up Taesung Chemical properly?”

“If this is the case, why did you obtain full authority over the merger and acquisition of Taesung Chemical? Wasn’t there some sort of deal with Chairman Kim of the real Woogwang?”

bang! bang! bang!

Grandpa hit the table again.

“What we need to pay attention to now is the back page, not the front page!”

“Back page?”

“Everyone, let’s start talking after reviewing the terms of the re-acquisition negotiations!”

“If it’s a re-acquisition negotiation… Ugh!”

All the presidents of Taesung’s affiliates paid attention to the last page of the contract.

＜If the promissory note is not paid in full by the maturity date, it is substituted by transferring the shares in proportion to the promissory note＞

The last added clause caught my eye in particular.

＜Taesung does not exert pressure, such as pressing for delinquent bills by maturity, but Wookwang Securities, which is collateral, is also processed in lieu of the terms of the re-acquisition negotiation.＞

The CEOs of Taesung’s affiliates took a deep breath.

Silence fell in the conference room for a moment.

“This… this, this, no way…. You give the flesh and take the bones, is that right?”

“Even when Chairman Kim of Woogwang signed this contract, he would not have known that there would be a fire at the chemical plant…”

“Oh, it looks like Wookwang Securities, which was caught as collateral while trying to save billions of dollars in interest, is blown away?”

Everyone was twitching and twitching.

As if everyone was busy bouncing calculators and abacus eggs in their heads, there were bosses who quickly took notes with fountain pens.

“how is it? Are you sure?”

Grandpa laughed as he waved the three-page contract.

“It is a situation where Chairman Kim of Woo Kwang-ui has been called to the Blue House. What is the probability that Woo-gwang will repay this bill?”

The presidents of Taesung’s affiliates answered with a smile.

“It is difficult.”

“Are you in the mood to stop the Taesung Chemical bill right now?”

“Currently, stocks of all affiliates of Wookwang are plummeting to the bottom in real time.”

“I will do my best to save Wookwang Iron & Steel, which is stuck in mud, rather than gathering money I don’t have and eating Taesung Chemical.”

Grandpa asked again.

“Now you understand why I called you today, right? We are not here to plan a way out of a chemical plant fire.”

bang!

“About how we will take this opportunity back to Taesung Chemical!”

bang!

“We gathered to discuss how to reach out and swallow Wookwang Securities!”

The presidents of Taesung’s affiliates shouted in unison.

“yes! I understand, Chairman!”

So their discussion started from now.

“Wu-Kwang’s stock is crashing. Shareholders will not stand by. I will secretly dig into it.”

“I plan to more firmly block the cash flow of Woo-gwang, who is on the verge of a funding crunch. Let’s get in touch with the Hankyungryun people.”

“Let’s choose among Wookwang Group’s subsidiaries. Coincidentally, a few affiliates that would be good for our Taesung to take over came to our attention.”

“good idea. I’ll join you too. Some limbs will have to be torn off to bring Woo-Kwang back to life. Don’t miss this opportunity and increase Taeseong’s size.”

“Taesung just happened to attract a huge amount of investment at the year-end night. In addition, as I am in charge of the construction of subway line 2, I can buy the land where the subway station is located and aim for market arbitrage.”

bang!

Grandpa grinned.

“Everyone, stop thinking about going home early today. Even if we stay up all night, discussions on countermeasures against this should be over. Starting tomorrow, all affiliates should move in perfect order according to the goals set today. Isn’t it?”

“Yes, I understand!”

“Let’s move a little faster before other companies quickly snatch Woogwang’s vacant position.”

“Yes, Chairman!”

“I’m not satisfied with our Taeseong only remaining at the 5th place in the business world. Grab the opportunity when it comes, eat it when you can eat it, and snatch it when you can snatch it!”

“of course!”

Grandpa had the eyes of a ruthless entrepreneur.

In front of him, it was difficult to mention the word friendship for 40 years.

There were 38 pairs of eyes of the presidents of affiliates who were looking at only one grandfather in this place.

They were also the heads of their respective affiliates.

All of them had eyes that were just as heartless and calculating as their grandfather’s.

Then my father raised his hand.

“There are many casualties due to fire accidents at chemical plants. It will be difficult to accommodate all patients at Woogwang Hospital alone.”

My father alone had a completely different opinion.

“I would like to send medical assistance from Taesung Hospital.”

In an instant, all the presidents of affiliates shut their mouths.

It was the same for my grandfather.

“Before the seriously injured turn into the dead, before the lightly injured turn into the seriously injured, we must save those who can be saved. I will take care of that.”

＜Same event, different course of action＞ End