Former Mastermind To Chaebol Son-in-Law

Chapter 38

What Are You Thinking?

As soon as In-hyuk hung up the internal call, Hong Yu-geon stepped forward with a surprised expression.

"If it's Kang Do-young from KQ... he's the son of that woman who tried to kill the president last time, right?"

They were the two who had wiretapped the conversation between Jeon Hae-in and Lee Daemyung back then.

Naturally, they also knew well about the relationship between her and In-hyuk.

"That's right."

"So this is like watching half-brothers fight each other?"

"Shut up and just wait outside. I'll come out as soon as I'm done."

"Isn't it dangerous?"

"Just judging from the circumstances so far, Kang Do-young doesn't know who I am. And if, for any reason, he intended to do something to me, he would've come after me outside the company, not here."

"True."

With a bored expression, Hong Yu-geon left with Van Hester.

After a while, guided by Baek Si-hwan who had gone downstairs, Kang Do-young came in and sat across from In-hyuk.

"It's been a while. I guess you've racked up some accomplishments in the meantime? Last time you were a team leader, but now you're a division director, I see."

There was a significant sneer in his voice.

"I did work hard. But what brings you here? I doubt you came to exchange pleasantries."

"... What?"

"Why? Oh, is it because I'm speaking informally? You started that at the party, remember? Even now. Wasn't that an invitation to drop formalities?"

At In-hyuk's calmly thrown line, veins appeared on Kang Do-young's brow.

However, unlike last time, he didn't get agitated; instead, he just clenched his fist tightly and tried to remain as composed as possible.

"That's not important. Let's get to the point. I heard the PEF division has been investing in quite a few entertainment companies in exchange for equity. Why? Is Taeshin Asset Management planning to acquire a celebrity agency?"

"We invest to make a profit. But why do you care?"

As In-hyuk continued to use informal speech, Kang Do-young let out a deep sigh.

He was annoyed, but it also meant he needed something from In-hyuk.

"I need the shares and rights to those entertainment companies you invested in. I'll pay you much more than what you gave for them, so hand them over to me."

He was acting as if he was asking for something trivial. Listening to such a proposal, In-hyuk answered without a flicker of emotion.

"No."

"... Did you not understand what I just said?"

"I'm not deaf; I understood perfectly. Whatever your reason, we have no intention of selling the shares of the companies we invested in, no matter what terms you offer."

In truth, In-hyuk knew exactly why Kang Do-young was doing this.

Currently, Kang Do-young planned to scoop up small entertainment companies that had recently produced popular celebrities, using massive capital, and consolidate them as a separate subsidiary under KQ Group.

Its name would be LifeStar Entertainment.

Something like this did indeed happen in the future; a large celebrity agency was formed under KQ Group and succeeded greatly.

So as soon as In-hyuk learned he was Chairman Kang Cheon-gyu's illegitimate son, he'd taken action.

The current division had been newly established for that purpose, and investment opportunities had been transferred out.

He'd also predicted Kang Do-young would try to contact him somehow, but didn't expect him to show up this abruptly, as if he were in a panic.

"Either way, don't you just care about profit? Instead of holding on and worrying, wouldn't it make more sense to pass them on at a high margin?"

"Which means, KQ is targeting them because they're likely to be valuable, right? No matter how much you offer, it's more profitable to keep those shares. Isn't that so?"

"Didn't it occur to you that something could go wrong while you're holding them?"

KQ Group was well-known for its distribution and entertainment businesses.

With its deep networks in advertising and sponsorship, it wielded considerable influence in broadcasting.

However, it hadn't operated an entertainment agency in its own right until now.

This time, Kang Do-young hoped to establish one, relying on funding.

"Are you implying you'll exert some pressure?"

"I couldn't if I wanted to."

In-hyuk paused, pretending to consider, then answered.

"Then, how about handing over just 30% of the entertainment companies we invested in?"

"Only 30%? Do you really think a major KQ Group business can be built on just that? All you're going to do is let them languish here. Working with us will be a better opportunity for those companies, too."

Along with that answer, Kang Do-young gave a smile, as if his simple intimidation was starting to work.

So In-hyuk looked at him with purposely feigned concern.

"We've already shared the PEF's first report with investors, so I can't completely reverse and hand over everything now. So I'll be generous—up to 50%."

"90%. I'll pay ample interest on the shares."

"60%."

"...80%."

They each made small concessions in their proposals.

"Let's settle at 75%. If you want more, forget it. Do whatever you want—apply pressure or not."

Kang Do-young's brow twitched as he shot In-hyuk a sharp look.

"... Fine. 75% it is. I'd like to decide now which companies you'll transfer."

"Sure."

With that, In-hyuk called Baek Si-hwan on the internal line.

Beep—

"Please compile a list right now of the recently acquired entertainment company shares from the transfer documents and bring it to me."

[... Understood.]

"My secretary is starting work today, so it might take a while."

A few moments later, Baek Si-hwan handed over the documents.

Taeshin Asset Management owned shares in a total of 13 entertainment companies.

Just as he'd said, In-hyuk checked off ten and showed the list to Kang Do-young.

"I'm prepared to transfer these. Is that acceptable?"

Kang Do-young's face turned ambiguous as he checked the contents.

"This seems more generous than expected... 45 billion won? That much invested in dinky little entertainment companies?"

"As I said, it's an investment. Take it or leave it."

As In-hyuk tried to take the documents back, Kang Do-young quickly reached out.

"Alright. Let's do it."

He seemed desperate.

The truth was, Kang Do-young had only managed to get this project approved by his father, Chairman Kang Cheon-gyu, after much effort.

But the shares in the entertainment companies he'd earmarked had already been acquired in advance by Taeshin Asset Management's PEF, as investment conditions.

In order to acquire those companies smoothly, he had to get those shares—hence, he'd come directly.

Of course, In-hyuk roughly understood the situation. Thus, with an even calmer expression, he spoke the next condition.

"And you'll need to add another 10% to the share price."

"Another 10%?"

"I need something to show the fund investors. If that's too much for you, let's call it off."

Kang Do-young furrowed his brow, pondered something, and then spoke again.

"Then here's my condition. You need to transfer the shares as quickly as possible."

"The companies affected will need an explanation, no?"

"I've already had preliminary talks with the companies on this list. If Taeshin Asset Management agrees, they're ready to proceed."

"Still, we'll need to confirm things on our end first, then hand them over. We don't want to be sloppy and cause unnecessary gossip—our own image matters, too."

"Image? You're not planning any funny business after all this talk, are you?"

He looked with open suspicion.

It was only natural—there'd never been any trust between In-hyuk and Kang Do-young.

"If you can't trust me, I can write up a contract if you'd like?"

When In-hyuk offered that, pretending to be generous, Kang Do-young's face hardened with pride.

Still, perhaps thinking prudently, his expression relaxed soon after.

"Honestly, it's hard to trust you, so let's do that. You could just as easily dangle better terms elsewhere after this conversation."

Recently, entertainment companies hadn't been doing well.

Some companies did grow rapidly when their stars became famous, but it was common for celebrities to switch agencies or be absorbed by bigger competitors.

So Kang Do-young had prepared this project under KQ Group.

If the acquisition and integration went smoothly, he'd have a chance to compete with the big entertainment companies.

In-hyuk glanced at his waiting face, smiled, and answered.

"I'll prepare it right away."

He instructed Baek Si-hwan, who'd just left the office, to bring the contract.

Soon afterward, after a quick review, both sides signed the documents.

Kang Do-young, satisfied after checking the contents and signatures, left with a pleased look.

Not long after, with a knock at the door, Hong Yu-geon and Van Hester came back into In-hyuk's office.

"What was that about? I saw Baek Si-hwan bringing stacks of documents earlier."

In-hyuk chuckled and explained what had happened.

He spoke in English so even Van Hester, whose Korean was lacking, could follow—but he didn't seem particularly interested.

On the other hand, Hong Yu-geon was amazed after hearing everything.

"Those companies... aren't those the ones we talked about at Go Mi-ah's place last time? You went through such trouble to secure those shares, is it alright to just hand them over like this?"

"I'm getting an extra 10% above what we paid to acquire them, so it's not a loss."

"But... aren't you planning to make more than that?"

"Well, the situation now is even better."

As In-hyuk gave a meaningful smile, Hong Yu-geon tilted his head in confusion.

"What exactly is the boss thinking?"

* * *

A few days later, Taeshin Asset Management's CEO, Tae Ju-ha, was sitting on the sofa with Executive Vice President Oh Kang-goo, who had paid her an unexpected visit.

"A staggering 53 billion won in funds was moved by the PEF division without any executive consultation. And invested in high-risk entertainment companies at that? Do you think this makes any sense?"

The deal between KQ Group Executive Director Kang Do-young and Kang In-hyuk had reached his ears.

Of course, Tae Ju-ha was already aware.

"I'm concerned as well, but thanks to Executive Director Kang from KQ Group, we're transferring around 75% of the shares for 45 billion won, plus an extra 10% as profit, so we'll receive an additional 4.5 billion won. Isn't that satisfactory?"

"Division Director Kang raised as much as 300 billion won in investment funds. We've had no disclosure about where the rest of the funds are going outside of this entertainment investment. If a problem comes up, can you handle it?"

Essentially, he was expressing displeasure at Kang In-hyuk moving capital on his own authority.

"From the beginning, M&A/PEF division operations were decided to proceed at Division Director Kang In-hyuk's sole discretion. There hasn't even been a loss yet."

"As I said earlier, we're concerned because he's investing in a risky industry. Surely you're not unaware there's already a sense of unrest among our clients?"

"Is that so?"

"Reports have already come up from different divisions. Are you going to keep ignoring these circumstances?"

As he said, status reports had come in—but they were entirely from departments led by Executive Vice President Oh Kang-goo and factions aligned with Taeshin Trading's Executive Vice President Tae Seok-ho: Managing Director Yang Chan-woo, Director Bong Joo-hyung, and others.

It was obvious—even from mere suspicion—who had stirred up the atmosphere.

"So, are you saying Division Director Kang In-hyuk should get executive approval every time he manages investment funds going forward?"

"I hope you don't take this the wrong way. I only mean there needs to be at least a basic safeguard. That way, our clients can feel secure entrusting us with their money."

What's there not to take the wrong way? Tae Ju-ha clicked her tongue at his blatant motive and stared at him.

"Sorry, but that won't be possible."

"... Why not? Are you saying you'll just stand by and let this continue?"

Oh Kang-goo smiled inwardly, satisfied.

The atmosphere he wanted had been fully formed.

Furthermore, even executives from rival factions were voicing complaints about Tae Ju-ha and Kang In-hyuk's monopoly.

If CEO Tae Ju-ha didn't side with the executives now, she'd be putting her position in jeopardy.

But at her next answer, his face stiffened.

"Division Director Kang In-hyuk just brought in a new M&A sale. The deal size is around 800 billion won. Negotiations are ongoing for a 1.3% M&A fee."