The Bottom of a Large Company Does a Good Job - Chapter 334



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Episode 334. Judgment (3)

Chae Kyung-jun briefly explained what he had discovered and why he had come.

An uncomfortable silence fell within the president’s office.

The director was thinking deeply about what Chae Kyung-jun had said earlier, and the president clearly showed that he was displeased with Chae Kyung-jun.

If the president of Taesung Bio, who rarely shows his expression, is like that, it means he really hates it.

But the director understood the president’s feelings.

It’s not that I really hate you.

A person who touches a sore spot will not look good.

Even if it’s for the company’s sake.

“So you came all the way to the president’s office? To tell me to step down?”

As the president, I had no choice but to accept it.

If someone who mobilized the strategy room to break through the lobby went to the finance office and then came back to the president’s office, doesn’t that mean he has business with the president?

I was about to say that it didn’t seem like a director, but I stopped myself.

I thought you wouldn’t believe me even if I told you.

Chae Kyung-jun answered nonchalantly, as if he was used to it.

“You should step down. You didn’t do a good job.”

“What?”

The manager was surprised at first, but soon calmed down and thought about it.

I’ve become somewhat accustomed to conversations with Chae Kyung-jun.

To be honest, if you listen to the story, there are many surprising things.

But if you are surprised by every single thing, you won’t be able to make any progress.

It’s true that I’m coming to my senses faster now.

I quickly returned to my original state and thought about what he had said.

‘For a good reason… … .’

The manager laughed in vain.

It’s not that it doesn’t make sense.

I never thought of it that way.

In other words, the idea was to cut the fuse that could lead to the Financial Supervisory Service getting in.

This was something that Chae Kyung-jun could say because he had already reached the conclusion of creative accounting by going through the financial statements, appendixes, and contracts.

“It’s better to avoid things like creative accounting. But if that’s the only way, you have to do it. If you leave a gap like this, it’s obvious that they’ll attack you.”

Chae Kyung-jun’s tone was one of ridicule.

It wasn’t because they committed fraudulent accounting.

As this is a gray area, it is still unclear whether this is creative accounting or not.

“You should have been fully prepared to pull it as white as possible.”

He was criticizing the president and director for being unprepared.

The reason was simple.

The current situation has not been concluded to be creative accounting.

Chae Kyung-jun said it was fraudulent accounting, but he said it because he knew it was intentional.

In reality, one must prove both intent and noncompliance with accounting standards.

If you haven’t decided yet whether it’s white or black, you just need to prepare the materials to decide.

So that it can be judged as white as possible.

Chae Kyung-jun said that the preparations were negligent.

And the director actually didn’t think that far ahead.

He started out as a working-level employee and rose to become a director.

I know how to handle numbers, but I don’t know how to decorate.

It was a tremendous amount of improvisation just to drag it into the gray area.

Going one step further, he tells us to organize the surroundings to our advantage.

It was something I never imagined.

This was also because the two had different positions.

The CEO thought the issue should be resolved within the company.

Because it’s something that shouldn’t spread outside.

But Chae Kyung-jun was someone from outside the company.

His scope of thought was not limited to the confines of the company called Taesung Bio.

“So you’re saying that we should prepare a reason in advance for the part that will become an issue?”

The director who said that realized that he was expecting something from Chae Kyung-jun.

Earlier, the director was worried about whether Chae Kyung-jun would be able to make an accurate judgment after realizing that he was a fraudulent accountant.

If the president and director were to be asked to step down simply because of fraudulent accounting, I would have asked them this in return.

Do you have a solution?

What would you have done in this situation?

There was no need for that.

Chae Kyung-jun was the person watching from above.

It was a crucial moment that determined the fate of the company, but I wasn’t at all embarrassed to ask Chae Kyung-jun for his opinion.

He was a man capable of making sound judgments.

The president’s expression changed strangely.

It was a sight you would never normally see.

But the manager understood.

Your expression right now probably isn’t much different from that.

The president looked at Chae Kyung-jun’s profile as if he were looking at a crazy person.

Even though he felt those gazes, Chae Kyung-jun did not waver.

He folded his arms and pondered.

“We are thinking about the method, but the problem right now is that we don’t have time. The best thing to do would be for Quintris to announce that they will do a call option.”

“That would also affect Quintris’ stock price. It would not be easy to allow it.”

The manager answered quickly.

Quintris is a foreign pharmaceutical company larger than Taesung Bio.

Taesung was not someone who could be threatened or appeased just because of his name.

Of course, it may be possible if you put in a lot of time.

The contract originally included a call option, so unless something unexpected happens, the development of the new drug will proceed without a hitch.

The problem is that there is no time.

The financial statements have already been published and it is now August.

You never know when the Financial Supervisory Service might discover it and investigate.

Perhaps they have already discovered anomalies in your financial statements and are investigating them.

It wouldn’t be strange if you knocked on the door on the first floor right now.

The director, who had been relying solely on expert reviews, spoke with a troubled expression.

“If a new drug is developed, there is a high possibility that Quintris will exercise its call option, but will the Financial Supervisory Service wait until then?”

It takes years to develop a new drug.

Taesung Cellophia’s research will not end just at a good time.

However, you cannot make a fake announcement of a new drug.

If you don’t release a new drug after announcing it, people will think it’s strange and you will definitely get caught.

What about that wavelength?

The director thought about it in his own way.

“How about publishing a false article first? I’ll exercise my call option. There will be a complaint from Queen Tris and a correction article will be published, but once a rumor has spread, it can’t be picked up. People don’t read correction articles very often.”

Chae Kyung-jun shook his head.

“The article denying Quintress’s call option is game over. Rather, it gives the Financial Supervisory Service good material.”

Even with viral marketing, fake news isn’t that difficult.

However, it was dangerous for an article to come out saying that Quintress’ official position was ‘there are no plans to exercise the call option.’

The exercise of the call option will allow the company to be reclassified from a subsidiary to an associated company.

Isn’t that the opposite situation?

If it remains a subsidiary, Taesung Bio will be unable to record any profits in its books and will be committing fraud.

The director glanced at Chae Kyung-jun, saying, “Oh no.”

‘You seem to be used to this kind of thing. You are calculating the consequences of your actions.’

It’s easy to do the given task.

However, in a position where one’s own judgment can easily ruin the company, it is not easy to find the best method by reading the results one by one.

First, you have to create your own choices and verify that they are the best.

But it seemed like Chae Kyung-jun had already experienced quite a bit of the situation.

“The best thing is to negotiate with Quintris, but this is like gambling if you do it without preparation. Buying the Financial Supervisory Service… … There’s not enough time for this either. Throw something bigger than this and turn your attention away… … If you give something bigger than creative accounting, the company will go under, so pass.”

He skillfully created and then erased choices repeatedly.

Among them were scary words like “Financial Supervisory Service acquisition.”

Of course, it’s not impossible.

There is a precedent.

There are also several people who were caught taking bribes, leaking inside information, or covering up inspections.

But as expected, there was not enough time.

In order to avoid getting caught giving a bribe, the recipient must also be moderately corrupt and desperate for the money.

The task of selecting such people had to be carried out carefully.

And the risk of getting caught is just too great.

‘But you say things like that so casually.’

I had a guess from the moment you said that we should just move on without resubmitting.

I really think that they are only thinking about the company’s own interests.

The president’s expression gradually became calmer.

I don’t know what he was thinking, but it seems like he’s made up his mind.

It can’t be helped.

If you can’t keep up with this conversation right now, you’re not qualified to be the CEO.

This is a place to discuss the future of the company.

No matter what my feelings were, I had to put them aside and join this conversation.

“… … Are you really going to help me?”

Chae Kyung-jun gave a cold look.

“I told you. I’m also a Taesung person. Then would you say I came here to destroy this company? If you had told me earlier, we could have quietly ended it without having to mobilize the strategy room.”

The boss felt wronged.

Who in the world would bow down to someone who asks them to reveal their company’s weaknesses?

That too to a team leader.

I knew he wasn’t just a team leader, but Chae Kyung-jun’s reputation was still lacking.

Chae Kyung-jun also knew that the president had no choice but to do that.

So I decided to stop questioning him here.

Chae Kyung-jun cleared his throat and said, “Hmm,” before concluding.

“There’s not much we can do right now. Let’s start by spreading rumors.”

“Is it a rumor?”

“Yes. Rumors are the most effective and cost-effective. They don’t have to be corrected like news articles, and it would be difficult for foreign companies to immediately find out about rumors circulating in the Korean business community.”

The manager said with concern.

“There’s a branch in Korea, too. Even if it’s just a rumor, it’ll probably get through to people right away.”

“Because it’s not an article. No company responds to every rumor. It has to spread and spread to the point where it affects the stock price before it responds.”

“If there is a rumor about a call option, the stock price will go up.”

“It goes up. What company doesn’t like its stock price going up? Oh, except when it’s going through a merger or acquisition, of course.”

Although Chae Kyung-jun said it casually, the director was a little shocked.

If I do this wrong, isn’t it stock price manipulation?

Chae Kyung-jun said, as if he had guessed the thought.

“You know how many rumors are floating around the stock market, sir. Two-thirds of them are fake. Do you punish each and every one of them? Rumors are just rumors. And you just have to make rumors true.”

“You really made it? No way… … .”

“Yes. We need to buy some time and convince Quintress in the meantime.”

The president understood Chae Kyung-jun’s plan.

If it goes through the Financial Supervisory Service investigation and trial, it will take an incredibly long time.

First, they spread rumors about call options to create evidence that it was not fraudulent accounting during the Financial Supervisory Service’s investigation.

It may not be hard evidence, but it will buy you some time.

In the meantime, convince Quintress.

It is best to exercise the call option immediately, but if that is not possible, you can simply publish an article stating your intention to exercise the call option.

‘It’s possible!’

The president felt his heart beating faster.

The call option does not have to be exercised.

What we need now is a justification for reflecting the profits in the ledger.

It’s okay, but the question is how to convince Quintress.

Because I’ve already bought some time.

All you have to do is calmly present Quintress with some attractive terms and get her to sign the call option article.

“I guess it will work.”

The director also spoke with a serious face.

Chae Kyung-jun’s words did not end there.

“Don’t even try to destroy evidence. It’ll all come out anyway when you do forensics. You have to assume that the Financial Supervisory Service will catch you.”

“Then shouldn’t it be erased even more? I don’t know about other things, but I think the ‘Measures to Counter Capital Erosion’ should be erased.”

The boss clenched his fist.

His expression had become calm, but his actions were revealing his impatience.

Chae Kyung-jun shook his head.

“You may be anxious, but you can’t. That would be giving them an excuse. If you don’t erase it, they’ll just fight over the fraudulent accounting, but if you erase it, they’ll fight over the destruction of evidence. If you can’t erase it completely, it’s better to just leave it alone. They’ll use the act of erasing it as evidence of fraudulent accounting. If I were you, I would do that.”

The director looked at Chae Kyung-jun.

It’s been like that since earlier.

Even the president couldn’t hold his nerve and couldn’t even open his hands properly, but Chae Kyung-jun was calmly calculating.

I read and advised on how the opponent would react.

In particular, the words ‘if I were to’ were the scariest.

‘This is the type of person you shouldn’t turn into an enemy of.’

The president glanced at Chae In-ha.

She sat quietly the whole time, but her face was filled with pride and longing.

I thought I knew why the chairman put the two together.

‘He’s a real power. He’ll definitely become a real power.’

If Kwon Tae-ho is pushing, he is already controlling the president of Bio, but what if Chae In-ha is added to that?

Chae In-ha doesn’t have any title now, but how long will he remain a rank-and-file employee?

If Chae In-ha finds her place, Chae Kyung-jun will feel like he has wings on his back.

At that time, titles didn’t matter at all.

Because the combination of Chae Kyung-jun and Chae In-ha will become a power in Taesung.

Thinking about it like that, this moment became scary.

Chae Kyung-jun said earlier that the president should step down.

‘Do you have the authority to make that decision?’

That was the problem.

Common sense would suggest that Chae Kyung-jun, who was merely the team leader, had no authority whatsoever.

But if we were to do things according to common sense, would Chae Kyung-jun be sitting here right now?

The boss asked cautiously.

“Team Leader Chae Kyung-jun? What are you going to do after reporting to your superiors?”

It was no different from asking about their treatment.

Chae Kyung-jun narrowed his eyes and said, understanding the gist of the question.

“Well, I think it’s right to step down, but I don’t know. I wonder what the boss will do for Taesung and me.”

The president’s eyes became sharp when he heard those words.

‘I’m looking forward to it!’

There is still a chance to survive.

The boss swallowed dry saliva.