The 3th Generation of the Chaebol Wants to Live Quietly - Chapter 244



Only Noblemtl

#244.

Chairman Choi Yong-wook also did not completely believe Choi Min-hyeok’s report. This was because it was something that had never happened. However, the problem was the ability of his grandson Choi Min-hyeok, which was so amazing that it gave people goosebumps.

Choi Min-hyeok’s vision for the future of business was astonishing.

It wasn’t a problem that could be taken lightly just because he was my grandson like before.

The more Chairman Choi Yong-wook thought about it, the more difficult it was to reach a conclusion.

“… Surely Minhyuk, this guy doesn’t have another plan, right?”

“… I don’t know about that either.”

Chairman Choi Yong-wook, who had been worried, suddenly became curious about Choi Min-hyeok’s reaction.

“Hold on Minhyuk, what is he doing right now?”

“that is…….”

Director Jang Seung-il hesitated. The reason was that Director Choi Min-hyeok’s behavior that he saw when he went there was really strange. He hesitated because it seemed like he was tattling.

Naturally, Chairman Choi Yong-wook was curious about his grandson Choi Min-hyeok’s actions.

“Chief Jang!”

“Um, actually, it seemed like I made a music practice room and practiced singing.”

Chairman Choi Yong-wook was dumbfounded by Choi Min-hyeok’s absurd behavior, but he did not laugh. He was so surprised that he shouted and then ended up laughing bitterly.

“What? A music practice room?! Well, that guy makes a lot of money, so that makes sense. Wait a minute, are you really thinking of starting a management company and getting involved in the entertainment industry? Just to meet women?”

Chairman Choi Yong-wook’s tone of voice is that it could very well be so. He did not think it was a flaw for a third-generation chaebol to have multiple women. That is, as long as there were no external problems.

Director Jang Seung-il opened his mouth with a puzzled expression to avoid any misunderstanding.

“CEO Choi himself said it wasn’t true, but the scale of the business is not small. They bought a six-story building under someone else’s name, so it was bigger than most planning companies.”

Chairman Choi Yong-wook would have laughed if a third generation chaebol had done the same, but it was impossible for his grandson Choi Min-hyeok to start it. It was hard to criticize him for doing something with the money he earned.

However, I was taken aback by the sudden mention of a music practice room, knowing how busy KM Electronics is these days.

“I want this.”

Chairman Choi Yong-wook was also furious, but he could not interfere with Choi Min-hyeok’s life like he did in the past.

We already knew that Choi Min-hyeok had stocks worth over 1 trillion won. We couldn’t even guess how much property he was managing under someone else’s name.

He was more concerned about the problem that was before him.

It’s the Oculus project. It’s obvious that his grandson, Choi Min-hyeok, has taken a hands-off stance. In addition, his eldest son, Choi Moon-kyung, the vice-chairman, who visits him every night and causes trouble, is also a problem. Even though he is the chairman, it is difficult for him to unilaterally push this project forward.

‘Right now is just right. It seems like that guy Moonkyung has come to his senses now.’

Vice Chairman Choi Moon-kyung gathered his close associates and was racking his brain. However, in the process, he personally sorted out any business that might be problematic.

The reason Chairman Choi Yong-wook made the decision so easily was because of his grandson Choi Min-hyeok’s actions. If things were to go as Choi Min-hyeok reported, it would have been better to hand over the Oculus project to DL Group rather than Oseong Electronics.

‘You receive investment and make a profit from the sale proceeds. Even if it’s DL Group, it would be burdensome if hundreds of billions were to disappear in a short period of time. That would be a better way to strike a blow… ‘

“Bring in the current status of Oculus Corporation and contact Chairman Kim Sang-goo to make an appointment. Check first how much he can give you.”

Director Jang Seung-il also did not particularly oppose Chairman Choi Yong-wook’s opinion.

“Does that mean you’re handing over the Oculus project to the DL Group?”

“Instead, take everything you got. Whether it’s investment money or sales proceeds. Consider transferring the problematic TRS personnel to KM affiliates, and if necessary, consider distributing them to KM Electronics. I don’t think Minhyuk will be against it unconditionally.”

“All right.”

“Is the big guy still negotiating with Geotech for the sale of TRS?”

“yes.”

“Then don’t tell the Vice President about any Oculus-related matters yet.”

“…yes.”

Director Jang Seung-il somehow felt that Chairman Choi Yong-wook was distancing himself from Vice Chairman Choi Moon-kyung. However, he did not show it.

‘I wonder if this is what Director Choi truly wants.’

* * *

Minhyuk Choi heard Chairman Yongwook Choi’s opinion over the phone with Director Seungil Jang.

Since he judged that he had already sufficiently warned Chairman Choi Yong-wook about the risks of the business, he did not put any more pressure on him.

But then something unexpected happened.

Vice Chairman Choi Moon-kyung suddenly suggested that the Oculus project be put on hold for the time being due to difficulties in selling the TRS business.

The intention was to first complete the sale of the TRS business and then carefully decide on the acquisition of the Oculus business.

However, Vice Chairman Choi Moon-kyung’s actions also had the intention of teasing Choi Min-hyeok.

Minhyuk Choi, who was trying to finish the Oculus project as quickly as possible, was not very pleased with the decision.

Choi Min-hyeok eventually continued to pressure Director Jamie Nicholas through his deputy, Jeong Seong-geun.

Director Jamie Nicholas, who was taken aback by Choi Min-hyeok’s actions, also took action against KM Group, not just in words. One of the methods he put forward was to file a lawsuit in the U.S. federal court.

In fact, I was already in the process of doing pre-stop work through an acquaintance I know.

Director Jamie Nicholas had also been trying to control his pace with KM Group, the parent company of Director Minhyeok Choi, but he could no longer do so.

He returned to the KM Group headquarters with a team of ten litigation experts who had just arrived from Italy.

The KM Group’s response to the attack by the suit corps was also quite different from before.

Their faces were filled with an unconcealable tension.

KM Group executives and employees were not accustomed to seeing a horde of suited soldiers.

The opponent has prepared preliminary documents for the US lawsuit.

It was made clear that this was a formal negotiation table before the lawsuit.

Another problem was that the lawsuit was being conducted in the United States, not Korea.

The KM Group, which had no experience in litigating in U.S. federal courts, was in an uproar.

Vice Chairman Choi Moon-kyung, who was already angry because of Chairman Choi Yong-wook, eventually stepped forward.

Vice Chairman Choi Moon-kyung criticized the negotiating team right in front of their noses.

“Hey, you little shit, I found out that you have nothing to do with Geotech. So why are you interfering with our business and interfering with everything?!”

Vice Chairman Choi Moon-kyung’s bloodshot face looked no different from that of a rabid dog.

Rather, the KM Group secretary’s office was embarrassed and stopped Vice Chairman Choi Moon-kyung.

“… … .”

However, director Jamie Nicholas, who experienced a fresh culture shock, smiled with satisfaction. He enjoyed the situation that turned out to be more fun than he had expected.

‘Did you say that the person who was in conflict with Director Choi was Vice Chairman Choi Moon-kyung?’

It was only later that he realized what Director Choi Min-hyeok wanted.

But that didn’t matter.

The abilities that Director Choi Min-hyeok possessed were more important. If we can handle this issue well, we can maintain a strong relationship with Director Choi Min-hyeok in the future.

That’s what director Jamie Nicholas really wants.

Director Jamie Nicholas sat alone in a conference room chair, smoking a cigarette. A drink was on his mind.

“Is there no alcohol here?”

It was exactly like someone coming from a tavern and asking for drinks and women.

Even the KM Group secretary’s office staff gritted their teeth at the blatant disregard.

That doesn’t mean director Jamie Nicholas is the only one who’s been acting out of the blue.

“Now, let’s start with the failure insurance for the joint venture investment breakdown. If the joint venture breaks down, the local partner cannot use the trademark, but the protection of technology rights is not relevant. However, there is a penalty for the termination of the contract.”

The contract contained provisions for various issues arising from the termination of the joint venture.

Accounting transparency was also an issue.

There were also specific compensation details for changes in relationships between partners.

The joint venture agreement specifically mentions various potential disputes depending on the business structure.

The irony is that the enforcement regulations were so strict that there were too many restrictions.

Director Jamie Nicholas took on the KM Group legal team as they went through each of these legal items.

“I really don’t understand. If you enforce contractual provisions like this, the penalty compensation will also become stricter. Even the opportunity loss cost due to the termination of the joint venture is determined by this item. Usually, joint ventures don’t do this thoroughly to ensure smooth business, but I don’t understand why. Is it because they have a lot of money, or is it because they have no intention of terminating the joint venture?”

“… … .”

The legal team handling Director Jamie Nicholas’ case was unable to comment.

Director Jamie Nicholas, who found the timid legal team’s appearance amusing, smirked as he glanced at the vice chairman who was gritting his teeth.

“Did that Vice President ever read the contract properly? Did that CEO just go to bars and do hoes? Or did he have fun with his concubine?!”

“… … !!!”

Vice Chairman Choi Moon-kyung, who saw the situation turning against him, finally exploded. He pushed the secretary who was trying to stop him away and ran towards Director Jamie Nicholas.

And then he grabbed director Jamie Nicholas by the collar and threw his arms back, clearly intent on hitting him in the face.

“Wow, wow.”

Director Jamie Nicholas, who doesn’t even blink an eye.

Secretary Kwon Jae-hong shouted until his throat was torn.

“Vice President, violence is absolutely unacceptable. Stop it!”

Fortunately, Vice Chairman Choi Moon-kyung’s fist stopped just an inch in front of Director Jamie Nicholas’ face.

Vice Chairman Choi Moon-kyung also felt a sinking feeling in his heart. If he were to swing his fist here, he could actually get arrested by the police. If that situation were to be reported on the news, it would be a complete laughing stock.

Director Jamie Nicholas grinned and pushed Vice Chairman Choi Moon-kyung’s arm away. He lightly adjusted his clothes, starting with his tie.

After quietly stepping back and saying it was okay for those coming from behind, he turned his face back to Vice Chairman Choi Moon-kyung.

“Okay, try hitting it.”

“… … .”

Vice Chairman Choi Moon-kyung eventually retreated as she was grabbed by Chief Secretary Kwon Jae-hong’s hand. She was fed up with the cold glare from Director Jamie Nicholas.

Director Jamie Nicholas wasn’t too happy with the way things were going.

“This is really funny. I can’t believe there are people swinging their fists at the negotiating table. This is the first time in my decades of working in Europe that I’ve experienced something like this. Hahaha.”

Director Jamie Nicholas’s giggling and mocking behavior was not something he had done once or twice.

Secretary Kwon Jae-hong calmed down Vice Chairman Choi Moon-kyung’s excitement by gritting his teeth.

Fortunately, it worked.

He stepped forward to replace Vice President Choi Moon-kyung.

“This is a negotiation table. If you act rudely like that, I won’t let you stay.”

“Oh, really? Then let’s have a formal fight in an American court.”

Chief Secretary Kwon Jae-hong also gritted his teeth when he realized the situation only then.

“… Are you really willing to negotiate?”

“No, if that were not the case, why would I be here? Everyone has to go through this process. Otherwise, it will be the case when you sue anyway. In an American court.”

Secretary Kwon Jae-hong’s complexion was not good.

Rather, it was Jamie Nicholas’s attitude as he left, giggling, that was more frightening.

The problem is not whether he wins or loses the lawsuit. The problem is that the talk keeps coming up. As time goes by, Vice Chairman Choi Moon-kyung’s incompetence will be clearly revealed.

The reorganization of the Geotech joint venture, which was thought to be easy to resolve, did not seem to be going to end easily.

‘This is a big deal. If this lawsuit drags on like this, it really won’t be good for the Vice Chairman.’

* * *

Minhyuk Choi also chuckled for a while after hearing the news of Director Jamie Nicholas’s activities within the KM Group. No matter how angry he was, swinging his fist was an excessive action.

“My grandfather got really screwed.”

“… … .”

Team Leader Jo Seong-don didn’t really respond to Choi Min-hyeok’s words. He wasn’t criticizing Choi Min-hyeok, but he didn’t like the fact that KM Group headquarters had become a laughing stock.

Choi Min-hyeok also clicked his tongue at the conservative behavior of Team Leader Jo Seong-don, but did not reprimand him. It is because of this kind of attitude of Team Leader Jo Seong-don that he can be trusted and entrusted with the work.