Breaking Up Is Better Than Divorce

empire of greed

At the foot of Namsan Mountain in Itaewon-dong, Yongsan-gu, it is famous for the residences of chaebol heads.

The mansion of the head of the Daeyang Group stood out especially among the mansions of such great people.

The high fence, more than 5 meters, seen from afar, was so long that they did not know where it ended.

Monday morning, the first day of the week.

The mansion of the head of the Daeyang Group was absolutely bustling.

The president, his sons, and even his grandchildren were busy setting up the table so that they didn’t neglect any one of them as it was a gathering place for all the family members working in the Daeyang Group.

At 5 a.m., the dawn had not yet risen, the large front door opened and cars began to come in one by one.

The family members who have a mansion nearby or who have set up a residence across the river are running like dawn on this day.

For the breakfast table of the chairman of a large corporation, such splendid dishes were not prepared.

On the table are dishes that you can see in other households, such as grilled fish in kimchi soup and seaweed that is grilled without oil and salt.

And all the men who sat around the venue were absorbed in their meal without saying a word.

It is the rule of this family not to open your mouth while eating.

In the dining room, there was a large table that could seat up to ten people, and only the men could sit here.

And there was another large table in the kitchen, where the women were gathering and eating quietly.

Most of them didn’t really enjoy eating, but what? This place was prepared by my father, the king of this family.

“When everyone is finished eating, gather in the living room.”

The president, who had finished eating with sung-nyeong, got up from his seat and said a word, and the men got up.

When the men leave the living room after the head of the household, the kitchen starts to get busy.

The women, who had been eating quietly, began to open their mouths little by little for fear that if they opened their mouths during mealtime, the president’s shouts would come.

“So what happened to Sunggyu? When did you decide to get married?”

The eldest daughter-in-law asked the youngest daughter-in-law.

“It will probably be around the end of the year. I’m worried, because I don’t think I fit in with that family.”

“no. How’s the Minkook Ilbo’s family? We are publishing the top 10 central daily newspapers.”

“Even if it is a top 10 daily, it is not a major. To be honest, I do.”

“What can I do? he likes it And it happened because my father did what he deserved, huh?”

Women’s interests were usually like that.

After that, stories about the circumstances of the families of other large corporations came and went.

Among the chatter of such women, there was a woman who kept her mouth shut.

She is now a woman who appears to be in her forties.

As if ignoring the president’s daughters-in-law exchanging information busily and fighting invisible to the naked eye, the figure of a woman sitting upright with a neat posture and sipping a teacup after meals was overflowing with graceful elegance.

“But, it seems that Myeongseong Group Chairman Park’s house is looking for a new granddaughter-in-law.”

The third daughter-in-law brought out new information.

“If it’s the granddaughter who is full of marriage, isn’t that the kid who was admitted to Harvard at that time?”

The second daughter-in-law was told.

“Is his dad the president of Myeongseong Electronics?”

It seems that the first daughter-in-law who takes the lead also showed interest.

“So, how old is that Harvard kid?”

At that moment, the woman who had been quietly standing there opened her mouth.

For a moment, the bustling place becomes quiet.

The crowd watched her for a moment, but no one spoke.

“Now he is twenty-one. mother.”

It was very awkward for the second daughter-in-law, who was close to sixty, to call a woman who looked twenty years younger than her mother.

“okay. thanks.”

Sitting at the top of the women’s seat, she nodded her head and greeted her with a faint smile, and the second daughter-in-law awkwardly bowed her head in return.

They had been eating at the same place for more than ten years, but there was a huge gap between them that could never be crossed.

“okay. If there is anything unusual these days, please tell me one by one.”

Meanwhile, in the living room, the chairman was listening to the reports of his sons, who were in charge of affiliates.

“There are no major issues in the automobile division. All the little things are just the things I can handle in my hands.”

The eldest son in charge of the car opened his mouth first.

“The same goes for the semiconductor business unit. Negotiations for the acquisition of Freescale and NXP have not been decided yet, and will continue to be pursued for the time being. Other than that, there isn’t really much to do. The mobile division also believes that there will be no problems with the launch of new M-series products in the second half of the year.”

The second is the former.

“The Joseon market is still not good.”

The third laughed.

“okay? Have you fallen enough to fall?”

For the first time, the president showed interest.

“I think we will hit the bottom sometime next year.”

“How much is it now?”

“It’s 32 million won. It’s half of what it was four years ago.”

“Then I’ll have to prepare soon.”

“yes. Starting this year, we continue to reduce the number of orders received. In the first half of next year, we plan to reflect 4 trillion won in losses that have not been reflected in the past. It is probably possible to drop by half of what it is now. We are negotiating with UBS to prepare for that.”

The president frowned slightly and asked.

“What did that say? As I get older, the new words I hear don’t stick to my lips.”

“It’s a total return swap. To be honest, I didn’t even listen to it once. He seems to be getting older.”

“Is it time for you to tell your age already?”

“It’s sixty this year. father.”

“okay. Anyway, you were the first to talk about this, wasn’t it?”

The chairman looked at the tallest man among the three who was sitting in the back row of his sons and said,

“Yes, Grandpa. When I was in America, I learned various management techniques. Fortunately, my grandfather took good care of me, so I bought the cotton wool. Hi-Hi.”

The man answered with a slightly lighter attitude.

Compared to the other grandchildren who could not hide their embarrassment in front of the president, such a light attitude made him stand out.

“So, if you buy a stock next year with that total stock … Swap, you’ll never know?”

Perhaps on purpose, the chairman misrepresented the profits as stocks by calling them by name, but no one dared to mention that it was a mistake.

“yes. When you buy and sell stocks under the UBS name, you will also sell them under the UBS name. We only provide collateral and fees on our part, and any profit or loss is our responsibility.”

“It’s true… I buy and sell stocks on my own terms, but that’s not my name right? What’s more, the income is mine too, right? Heh heh, there’s no need to go round and round to create a borrowed-name account like before, right? Are there any legal issues?”

“yes. It’s perfectly legal in the US or Korea. Fees are also low compared to other methods. UBS asks for a 4% line, but I think it should be a little more than 3%.”

“okay. you’re a good kid Good boy.”

When Chairman Roh, who turned 90, told his grandson that he was a good boy twice, the faces of the other grandchildren hardened.

“You heard it too. That’s how business works. If the company prospers, then I prosper, and if the company goes down, I fail too. no. I don’t do that these days. When the company is doing well, the shareholders are good, and when the company is bad, I make money. Crisis is opportunity. That’s a very good word. When the company is in trouble, they collect stocks cheaply and get support from the government. How good are you?”

“You are right.”

The eldest son nodded.

“So, everyone live with greed. Don’t miss any chance.”

The old man looked back at his children with eyes that were so bright that it was hard to believe that they were the eyes of an old man who had only a few days left to go to the afterlife.

“The greatest legacy I will leave you with is not the Daeyang Group, but endless greed. If there is a person who is not greedy…”

The old man paused for a moment.

“You’d better find another way. ‘Cause I won’t stop I’ll give you enough support. You don’t have to inherit a business to be happy.”

However, none of the people gathered there seemed to have any intention of abandoning greed and flying in search of happiness.

“And you, Sunggyu, go see me before going to work later.”

The president once again called his beloved grandson.

It is not that they are unaware of the fact that such an act will raise the awareness of other members of the family.

On the contrary, there was no incentive to do so.

After that, the presbytery again listened to the reports of the sons and the reports of the grandchildren in their respective fields.

After that, he received a report from his son-in-law.

Chairman Roh thoroughly divided the work based on blood ties, and he wanted everyone to know that fact clearly.

Even their father could report later than the two grandchildren.

Finally, the long meeting ended with the report of the granddaughter-in-law who was the only one participating in the business.

“Everyone, be greedy and live a life of greed. It’s management that fills my pocket with other people’s money.”

The president once again emphasized greed.

“But don’t do that with your brothers. After all, there is only family in the world.”

Then, with the face of a kind-hearted old man, he said a word and got up from his seat.

Everyone in the room was well aware that the old man’s last remarks were not just salutations.

The old man was very well aware of the rivalries and strife between his brothers, and to some extent encouraged them.

Chairman Roh believed that only competition creates real talent.

But he didn’t want the company to be dismantled because of a sibling fight.

What he really wanted was for one capable person to inherit the empire he had built and carry it on.

Therefore, it is an expression of the will to allow competition to show one’s abilities, but never to tolerate quarrels that go beyond the limits.

That afternoon, Ryu Seong-gyu stopped by the CEO’s office located at the top of Daeyang Heavy Industries’ Seoul office.

“okay. What did you talk about with your father today?”

As soon as his father saw him, he asked about the story of being alone with the president.

“He just asked me what I did while I was in America. So I said it step by step.”

“okay. Good job. I heard that they ate together until lunch.”

“yes. Lunch was pretty big. Better than eating at home? Botarga from Sicily and Karasumi from Miyazaki were good.”

“They are both things my father likes. You’ve got a good seat. If your older brother and younger brother find out, I’ll frown a little.”

“Hey, take that. Well, in any case, I told you to call me sometimes if you’re in the right place.”

“okay. What were you talking about?”

“You said so.”

When Ryu Seong-gyu answered, a satisfied expression appeared on his father’s face.

“Hey, yes. So hard to score points. Then I’ll give you a present each time.”

“Yes, thank you. You know I don’t mind giving, right?”

“Boy, yes. you’ve worked hard. especially at home. Even if you don’t want to come in at night, when you see them come in and say hello…”

“a. You are still my mother.”

Sunggyu said with a slightly strange smile.

“Anyway, by the way, Sungjin Precision Industries. Why do you think it’s a little different from what I said before? Didn’t you say that the schedule will start in 2 or 3 years?”

“I guess because things have changed. As I said before my grandfather, next year will be the most difficult time for the shipbuilding industry. So, we need to collect more ammunition. Especially the live bullets that older fathers don’t know.”

Sunggyu said with a smile.

“Now, the unit price of the product supplied by Sungjin Precision is 800,000 won. And before that, when I imported it from the US, I gave him $3,800. Excluding airfare. Except for Seongjin, I think you should get 2.4 million won when you receive a supply from Daeryuk Industrial. So, the amount of money that can be saved through Continental Industry in one year will be at least 50 billion.”

“It’s 50 billion…”

“You will be surprised to see how much I can rake in Daeyang Heavy Industries stock with that. A leverage of at least five times is sufficient. So, father, prepare to send the slush fund. Everything will come back as stock for my father.”

There are some things we haven’t said to each other yet.

If you place a short sale one month before the earnings release, and collect the results after the earnings are announced, you can make a lot of money there too.

insider trading? The Korean prosecutor’s office is investigating the securities purchased by the US branch of Nomura Securities? It’s a no-brainer.

You won’t even see the face of one of the managers involved.

Korea’s capital market law is actually a net with holes in it.

It is also a very strange net that can move in and out of large fish and catch only killifish.

Most of the business owners are already making huge profits by using inside information outside the reach of Korean law.

Sunggyu’s method is only at the level of granting legitimacy to hiding the subject of the transaction.

Of course, the fact that such a small difference can lead to large-scale trades is extremely important.

“Have you finished talking with Nomura?”

“Sure. There are a lot of connections that I have built since I was at Morgan Stanley.”

“Yeah, that’s good. I also thought you had a sudden change of plans because of him. What?”

Ryu Geun-soo, CEO of Daeyang Heavy Industries, looked at his son with the same kind of twinkling eyes as his father.

“Is that kid? ah! you knew haha.”

Ryu Seong-gyu realized once again that it was not easy to deceive his father.

“It’s just a joke. You know, I’m a little playful.”

“I touched the woman who would become the first daughter-in-law of Sungjin Jeonggong as a joke. And since the marriage broke up, you suddenly rushed to take over Sungjin Precision Industry?”

“Honestly, I won’t say that it has nothing to do with it. Just think of it because I’m having fun. I can’t stand it if I don’t play pranks like that. father.”

Sunggyu suddenly pretended to be a poor son.

“Well, it doesn’t matter. Everyone likes jokes like that. Only if that doesn’t matter.”

His father also smiled broadly and decided to pass it on.

“Yes. Unless there is a problem.”

Sunggyu does not let go of his heart even when he sees his father laugh.

But don’t worry too much. The schedule changed abruptly, but it was going to get my hands on it anyway.

It’s better to get it sooner rather than later and prove your ability to your father.

‘By the way, I can’t leave him for ruining my enjoyment…’

Thanks to his father’s mention of his toy, Sunggyu once again thought of that nasty guy.

I thought I should pay the price he deserves when he comes back.