The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 240



Only Noblemtl

#240.

“Are you saying that you brought up that agenda item at the executive board meeting?”

“I don’t know why the chairman did that either. But I think it’s because the TRS Geotech joint venture fell through… … .”

“That’s probably right. Even if he was the eldest uncle, he should be held responsible for not being able to properly establish a joint venture. But I don’t think my grandfather would have reprimanded my uncle in front of all the presidents of affiliated companies.”

Minhyuk Choi himself predicted that the two would fight. However, he did not expect that they would openly confront each other. Minhyuk Choi knew Vice Chairman Moonkyung Choi’s personality well.

This is because Vice President Choi Moon-kyung is not a fighting cock who fights directly in front, but rather the type who creates work behind the scenes.

‘My eldest aunt is no pushover either. I think my eldest uncle got so angry that he went wild. Ha, that’s a better result than I expected.’

The person that Choi Min-hyeok worried about the most before seeking revenge was none other than Chairman Choi Yong-wook.

Chairman Choi Yong-wook, who loves his family dearly, is not the type to favor anyone. So, I thought he would not kick out Vice Chairman Choi Moon-kyung even if she made a big mistake.

If Choi Min-hyeok turns out to be a villain, Chairman Choi Yong-wook will have no choice but to take Vice Chairman Choi Moon-kyung’s side.

That’s really the worst case scenario.

It’s not that Choi Min-hyuk himself is losing, but things are getting complicated.

So, putting Chairman Choi Yong-wook and Vice Chairman Choi Moon-kyung in conflict was the most important task.

That was the biggest reason why we made things complicated by creating the Oculus project.

President Oh Young-geun clicked his tongue when he saw Choi Min-hyeok.

“How could that be Vice Chairman Choi Moon-kyung’s fault? It’s hard for Director Jang Seung-il and others to avoid responsibility. But since you’ve chosen to attack Vice Chairman Choi Moon-kyung, it seems like the Chairman has made up his mind.”

“I can’t believe it.”

“I guess you haven’t heard the news yet. That’s why there was so much noise during this executive meeting. In fact, if you think about it, the person who took the lead on that was Director Jang Seung-il. The real responsibility went to Vice Chairman Choi Moon-kyung.”

“Is that so?”

Choi Min-hyeok also enjoyed the interesting story. He also regretted not going to the wonderful fireworks display at this executive board meeting.

But anyway, the Oculus project is no longer his main interest. No, to be precise, it is now at the stage where he can just look around.

He originally planned to discuss the future plans after Napst, but when he saw President Oh Young-geun getting very excited, he quietly stepped aside.

‘I need to figure out the situation first.’

* * *

Chairman Choi Yong-wook has also experienced many things recently. The TRS joint venture commotion was something he had never experienced before.

Although this work itself was motivated by Choi Min-hyeok.

But as time passed, Chairman Choi Yong-wook also had to hold someone accountable.

It’s similar to the case where Oh Sung Electronics’ Director Lee Chang-myeong passed the responsibility for the failure of the Oculus project to Senior Vice President Kim Hyeon-woo and then quietly left.

Chairman Choi Yong-wook could not control his anger, especially when pressured by his grandson Choi Min-hyeok.

It was at a meeting of the KM Group executives that the bomb exploded.

Vice President Choi Moon-kyung was strangely silent, as if she had no responsibility whatsoever.

His actions were the trigger.

Chairman Choi Yong-wook blamed all of this on Vice Chairman Choi Moon-kyung’s failure to properly manage the group and collaborate with other affiliates.

Vice Chairman Choi Moon-kyung initially tolerated it, but when he said he would transfer 5% of KM Industries’ shares to Choi Min-hyeok, he clashed head-on with Chairman Choi Yong-wook.

The two men had a huge fight in front of many presidents of KM Group affiliates.

A person who never said a single word in front of Chairman Choi Yong-wook caused such a fuss.

The KM Group was in chaos.

Choi Min-hyeok stuck out his tongue while listening to the report from Team Leader Jo Seong-don.

“The situation is more serious than expected.”

The same goes for Team Leader Jo Seong-don, who has a stern face.

“There is a rumor that Vice Chairman Choi Moon-kyung’s management rights are also in danger because the Chairman’s attitude is too strong. The Chairman has ordered that Vice Chairman Choi Moon-kyung’s past management performance be investigated from the beginning.”

“Oh, isn’t that going too far? I don’t think it’s something to raise that much… … .”

“The chairman’s anger was that great.”

“Oh, anger. Yes. You must be very angry.”

Choi Min-hyeok, who had incited that anger, stuck out his tongue. If you think about it, it was he who had continued to provoke Chairman Choi Yong-wook.

Only after carefully recalling my memories did I realize that the cause was something I had done to provoke him.

It was similar to the original suspect forgetting what he did, but the victim not being able to forget it.

Another problem was that Chairman Kim Sang-goo continued to pressure Chairman Choi Yong-wook.

Because it wasn’t just simple pressure, it was a sweet carrot that was also swung.

For Chairman Choi Yong-wook, it was not easy to ignore an investment proposal worth hundreds of billions of won.

That was because the offer was only slightly higher than the bank interest rate.

Chairman Choi Yong-wook also endured it for a long time and finally exploded in anger at Vice Chairman Choi Moon-kyung’s attitude.

In fact, Director Jang Seung-il, who was stressed out because of this problem, came to see Choi Min-hyeok again. He was sure that this whole situation was because of Choi Min-hyeok, but he couldn’t ask Choi Min-hyeok directly.

“Hyuyu, what are your plans for the future?”

Choi Min-hyuk was speechless.

“No, what did I do? Two people were fighting, and it’s not my place to get involved.”

“But it was you, sir, who gave me that motivation.”

“I just did a rational business.”

“Sir, how is that a simple contract? Furthermore, demanding a stake in KM Industries is tantamount to declaring war on Vice Chairman Choi Moon-kyung.”

“That’s not what I meant.”

“Then what on earth did you mean?”

Director Jang Seung-il’s loud-mouthed attitude was clearly different from before.

Choi Min-hyeok was dumbfounded, but since he had done something, he let it go for once.

“I can’t afford to lose money either. It’s true that I invested in the Oculus project.”

“… … .”

Director Jang Seung-il also paused for a moment, realizing that he had gone too far.

When he came to his senses, he realized that he had put his face in the lion’s mouth and took a deep breath.

The face of Choi Min-hyeok, who was watching, suddenly caught my eye.

‘shit.’

He quickly realized that if he took just one more step, Choi Min-hyuk would bite him.

“I’m sorry. Something big happened and I got so excited.”

“I’m glad you came to your senses. I’ll let it go this time.”

“… … .”

Director Jang Seung-il glanced at Choi Min-hyeok for a moment to calm his excitement. He was really dumbfounded by Choi Min-hyeok’s behavior of sticking his nose out and saying he didn’t know.

Why else would he come to see Director Choi Min-hyeok again?

“… Even so, this matter will not end easily. From now on, Vice Chairman Choi Moon-kyung will openly attack Director Choi.”

Minhyuk Choi, who was indifferent, grumbled.

“When was it ever quiet? It’s not something I experience for a day or two, so I don’t care. And it’s also easier to show my teeth. Then, I can have something to say to my grandfather, right?”

“… Haa, do you really have to do that?”

“No, what are you saying I should do? Don’t think about what my eldest uncle did to me. Do you think I don’t know what happened before I joined KM Electronics?”

“that…….”

“The two of us are not at a point where we can reconcile. How can you say such a thing when you know better than anyone else?”

Director Jang Seung-il also stuck out his tongue at the sight of Director Choi Min-hyeok’s expression not changing at all.

“… I came to see Director Choi because I was worried, but I think I went too far.”

“It’s true that I did it. However, since it was for the sake of the KM Group, I won’t take this matter to heart. Rather, it would be better to focus on the relationship between the two of you. The conflict between the two of you is not a simple matter, so it probably won’t be easy to reconcile.”

Choi Min-hyeok didn’t necessarily say that it was because of the ‘5% stake in KM Industries’. That was his intention from the beginning.

Director Jang Seung-il hoped that Choi Min-hyeok would withdraw his demand for a 5% stake in KM Industries, but Choi Min-hyeok never withdrew his demand.

A more serious problem is that Choi Min-hyeok is now determined to bring down Vice Chairman Choi Moon-kyung.

‘Whew, this is really a big problem.’

* * *

Choi Min-hyeok watched the inside of the KM Group with interest, but as expected, the discord did not subside as easily as before.

Vice Chairman Choi Moon-kyung called all of his close associates together and held repeated meetings.

‘But it’s hard to take a knife to me until we finish the Geotech issue, because our director, Jamie Nicholas, isn’t that nice of a guy.’

No, I couldn’t just leave things like that.

He threw some information to Director Jamie Nicholas through his deputy, Jeong Seong-geun.

That’s right, about the future of TRS.

Director Jamie Nicholas also did not have a very positive outlook on Geotech’s future, but he was left speechless when he heard Choi Min-hyeok’s message through Deputy Director Jeong Seong-geun.

He also never thought that Geotech would fail in just a few years.

However, the part that Choi Min-hyeok explained was more reasonable and specific than I thought.

Director Jamie Nicholas eventually met with Geotech Director Yaron Maytan to renegotiate.

Even Director Yaron Maytan’s expression changed after reading the documents presented by Director Jamie. The Geotech collapse scenario was more reasonable than expected.

Director Jamie was particularly meticulous in pointing out how ridiculous the current geotech business is.

And this is something that Geotech itself is concerned about.

The reason we are proceeding with the work by joining hands with KM Group is to reduce that risk.

If Geotech had a bright future, there would be no need to bother with the work.

So the report of Geotech’s downfall was equally horrifying to him.

“… Is this really true?!”

Director Jamie Nicholas, who felt he had the initiative, took things easy.

“Even the Korean market doesn’t look that rosy when viewed from that perspective. Then, there’s no need to investigate other Southeast Asian countries further.”

“Hmm.”

“In this case, it would be more reasonable to seek financial gain rather than compromise on a reasonable line. I am making this suggestion because I am truly concerned about your company.”

Even though Yaron Maytan, the CEO of Sisvel, despised Jamie Nicholas, he could not ignore the proposal itself.

‘Even though the notoriety of these people is so great, their skills cannot be ignored.’

“… Good. I won’t forget the attitude you showed me. I will consult with the head office and let you know the results right away.”

That’s the conclusion we reached.

This lawsuit will not end passively.

That’s why director Jamie Nicholas brought in a litigation expert from the Sizzbell European branch to again attack the KM Group.

‘This will be more fun than I thought.’

* * *

KM Group’s Planning and Coordination Office Deputy Director Koo Gil-mo was furious at the pressure from Director Jamie Nicholas. However, even he could not go wild when he discovered one phenomenon predicted in Choi Min-hyeok’s report while reviewing the Geotech lawsuit that was to take place in the US in the worst situation.

Director Jang Seung-il, who was shocked by Director Choi Min-hyeok’s attitude, also had no idea what was going on.

“What do you mean by saying that foreign exchange reserves are unusual?”

Vice Minister Koo Gil-mo, with a stern face, raised the issue of total foreign debt resulting from the widening current account deficit.

“According to the announcement by the Ministry of Strategy and Finance, total foreign debt is expected to exceed 100 billion dollars in the second half of this year. This is also causing problems with the current level of foreign exchange reserves.”

“As far as I remember, the total foreign debt wasn’t that much?”

“It was only $31.7 billion in 1990, but it has continued to increase and has already exceeded $70 billion in the first half of this year. The current account deficit is the problem.”

“… If there is a current account deficit, then you are not saying that they are going abroad and spending money like crazy, are you?”

Despite Director Jang Seung-il’s joking remark, Deputy Director Gu Gil-mo’s expression did not harden.