63. because I forgot all about it.
“Mr. Chairman, the first thing you need to do is to establish a holding company.”
“A holding company?”
“Yes. From what I understand, Mr. Chairman, you will own and control a group of companies, currently just a clothing company and a security company, but in the future, you will own and control a group of companies, and you will also make investments. Is that correct?”
“Yes, that’s right, Karma Investment, which was established in the United States, is currently investing in American companies, but we don’t necessarily have to invest in the United States, so we’re planning to increase our investments in Korea.”
“Then it’s neat that you set up a holding company to control multiple companies. Holding companies are divided into pure holding companies or mixed holding companies depending on the business method, but in any case, you have an overwhelming amount of capital and you will invest fully in principle, right?”
“Yes, I don’t want anyone to interfere just because I own part of it.”
“hahahahaha, that’s even better, because you don’t have to play games or worry about hostile capital.”
Did the holding company really have that much to worry about?
“Was that really that much to worry about?”
“Awww, don’t even get me started. What percentage of a subsidiary’s shares do you think a domestic holding company has to exert control? It depends on the size of the company, but not many companies have a lot of shares, especially the bigger ones. So you have to be careful with the design from the start.”
“Really?”
“Yeah, you have to do all sorts of hoops to make sure you’re not exposed to control disputes or M&A risk from hostile capital. On top of that, under Korean law, there’s a 200% debt-to-equity cap on holding companies. If you go over that, you can’t do any mergers or acquisitions.”
“Aha!”
“But if you’re an overwhelmingly capitalized company like yours, with zero debt and 100% acquisition power, there’s nothing stopping you.”
“…”
It was complicated, but somehow Mr. Nam seemed to be right.
“Okay. We’ll provide you with everything you need, but you’ll have to take care of all the business in Korea except for the welfare business.”
“hahahaha, thank you. I will devote all my passion to this.”
“No, but don’t just work like you did when you were in Sasung. ‘Gahwa Mansasung’ is my slogan in life. You can take care of your wife and children and put your remaining passion into it.”
What do you do when you’re socially successful?
It means nothing if your family is shaken.
“hahahahaha, that’s nice of you to say, but my wife has been living with me for about two years and she told me to please go outside and not come in.”
“What?”
“That’s right. You’ve been sleeping in your house for 20 years, and then all of a sudden, you don’t leave the house and you interfere. First it’s good, then it’s bad, and then it’s really stressful, right?”
“Ah—.”
“After a few months, there’s a lot of fighting, a lot of nagging, and the kids? I have a college student and a high school sophomore, and now I’m trying to be a good dad, and all I get is a bunch of bullsh*t.”
“Oh, Mr. Nam, you’re so old, what kind of a jerk?”
“hahahahaha, it’s just that we’ve been bumping into each other over and over again, and it’s driven us further apart. Somehow, I feel like my generation is the last generation to abandon family and be loyal to the company, and now I’ve given up.”
“…”
This is kind of sad.
It’s not like he’s some kind of money-maker.
If he did, wouldn’t he be screaming at me for not doing anything for him when he gets married?
Anyway, I shouldn’t say more.
It’s her own choice that President Nam Jung-won is in the private keynote room and is more loyal to the company than other people her age and is socially successful.
It’s ridiculous to poke fun at other people’s families.
You just have to hope they do it right.
“Well, I’m not going to say any more, but I do hope you’ll take care of your home life while you’re working with me, so I’ll stop talking.”
“hahahaha! I get it.”
“Jeffrey.”
“Huh? Why?”
“Does your brother live like that?”
“Are you crazy, living like my brother in America is divorce, and I’ve been so busy taking care of the house?”
“Hmph, you’re right.”
“Crazy—. You should do better. You’re already thirty-five, which is a late age, no matter how much marriage is in Korea these days. Besides, you don’t even have a girlfriend, do you? What a waste of your life.”
“…”
What kind of man doesn’t lose at least once?
“Well, let’s set up a holding company, and I’ll introduce you to the guy who’s in charge of the apparel division first. He’s got more than just apparel on his mind, so there might be some things he can take over.”
“I see.”
I immediately called for Jaeha to come over.
“Brother Jae-ha, I’ve talked to you often, right? This is Jeffrey, Mr. Jeffrey Chang, the lawyer who is helping me in the United States.”
“Nice to meet you, I’ve heard a lot about you, this is Jae-ha.”
“Yes, I’ve heard a lot about you too. Alex, I mean, you’re Chul Shik’s mentor.”
“Well, more of a hater than a mentor.”
“hahahahaha, that’s the thing, I’m the same way. I always say mean things when we meet.”
“hahahahaha!”
They are the only ones who openly talk bad about me.
From nob le mt l. co m
Jeffrey and Jae-ha.
“And, this is President Nam Jung-won. She’s from the Sasung Group’s keynote room and will be in charge of the holding company we’re setting up.”
“Nice to meet you, Jaeha.”
“Yes, nice to meet you. I’m Nam Jungwon.”
“Jae-ha.”
“Why?”
“You should know better than me, but Mr. Nam is going to be your boss anyway, so I’m going to ask you to be nice to him, at least in your work life.”
“Hmph, how many years have I been at work? Don’t worry about that. Besides, I actively encouraged you to do it.”
hahahaha, you’re so organized, it’s a waste of time.
“And, Mr. Nam?”
“Yes, Mr. Chairman.”
“Mr. Jae-ha, along with Mr. Jeffrey, you’re like my biological brother.”
“hahahaha, I know what you mean, don’t worry.”
You’re a smart guy, you know what I mean.
“Come on, it’s a little early, but let’s go out and have a drink—.”
Tiri-ri-ri-ring! Tsk, tsk, tsk!
I was about to say, “Let’s go out and have a drink,” when my phone rang.
It’s Ki-dong, isn’t it?
“Uh, brother.”
– Uh, it’s me, are you free?
“Huh? What’s up?”
– It’s nothing, I’m just calling to say hello to Mr. Jang and Chairman Jang, and then we’ll have a dinner together. Can you come over when you’re free? Your father wants you to come too?
“Really?”
Is it good?
This way, all of my family in Korea will be together?
“Hey, Jeffrey and Mr. Nam, are you okay? They’re having a big dinner over there to celebrate whatever it is today, do you want to join them?”
“I’d love to, I’d love to say hello.”
“That’d be great, too. They’re people I should see more often.”
“Okay, Ki-dong, we’ll go then.”
The group went to a restaurant in Gangnam specializing in Korean beef.
When we walked in, the game had already started.
“Hey, Mr. Kang! Long time no see!”
“How are you, Mr. Chairman?”
“hahahahaha! It’s been a long time since we’ve all been together.”
“hahahahaha! That’s right.”
Chairman Jang Young-dong, Attorney Park Hong-ryul, my father, Ki-dong, Shin Seong, and Lee Sang-chul, the head of the security company, were already eating.
Then there was me, Jae-ha, Jeffrey, and President Nam Jung-won.
Now all the people who will be with me in Korea are here.
One by one, I greeted them and told them about my relationship with them.
It was a fulfilling and enjoyable evening.
“So, with Mr. Nam on board, your acquisitions in the East have really taken off?”
“Really?”
“Yeah, he’s a player. He brought in a bunch of experts from out of nowhere, and he just did it.”
“That’s great. It’s not a big deal, but it’s not a small deal either.”
“I think it’ll be over in a couple of days.”
“How much did you agree to buy it for?”
“Hong Kong’s Li & Chang will pay 60 billion, and Mr. Seo’s share will be 40 billion.”
“Shouldn’t Mr. Seo’s share be worth more?”
“He’s the founder, he’s the one who brought in the buyer. Li & Chang has no objection.”
“So it’s only 100 billion, no more money?”
“Dongyang is not in a bad financial situation, and we have a lot of cash on hand. We don’t have any money for acquisitions.”
“That’s fine. In any case, you do well with Mr. Park.”
“Okay.”
It’s been two weeks since I’ve been in Korea, and the acquisition of Dongyang Apparel has moved at the speed of light with Nam Jung-won’s involvement, and it looks like it’s going to be finalized before I even get to the States.
From nob le mt l. co m
Jae-ha said that Hong Kong’s Lee & Chang had been doing badly lately and wanted to move things along quickly.
He was able to buy a stake in LI & Chang on the cheap, and they came in with over 150 billion and walked away with 60 billion.
The ultimate winner was Seo Chang-ryul, who sold the company for nearly $200 billion.
In today’s recession.
“hahahahaha, I didn’t think this was going to happen so fast.”
Three days before you flew back to the U.S., the deal to acquire Dongyang Apparel was signed, and Dongyang was incorporated into our Daesung family of companies.
The next day, Mr. Seo asked me to have dinner with him, just the two of us, so we met at our old Japanese restaurant.
“By the way, I didn’t expect you to come to Korea this time.”
“Please take care of our employees. I’ve taken care of the founders and my longtime friends, but they’re still very anxious.”
Why not?
Because the company they looked down on a few years ago has become a dinosaur and swallowed up their company.
“I told Jae-ha Lee to take care of it, so he shouldn’t worry too much.”
Still, some of the deceased will be cleared sooner or later.
That’s the cold reality, and I’m sure Mr. Seo knows it in his heart.
However, it’s not appropriate to say it out loud here, so I’ll keep my mouth shut.
“hahahahaha! Thank you, and I don’t know if I should tell you this, but—.”
“What?”
“We’ve agreed to divorce our child, eventually.”
“What?”
“The ugly one must have gotten a sense of entitlement from seeing you this time. It was already a precarious situation, but he’s been bullying her a lot, and he’s even been hitting her.”
“…”
The damn bastard even had a nunchaku?
Hah, my fist is crying, crying.
But it’s not my place.
“Worse than that, I decided to step in and clean up the mess. He’s been on a wild goose chase, and he says he can’t live with her if she dies, so I’ve settled for a generous alimony payment. I’m ashamed of myself.”
“No, it’s nothing to do with me.”
“I see, I just thought I’d mention it just in case.”
“Yes, I see.”
Mr. Seo, what a great guy.
Do you think he would have handled it like this even if I had nothing to do with it?
He says he’s telling me just in case, but it sounds like he’s telling me in advance because he’s afraid I’ll hear about it later and be offended.
Well done, Mr. Seo.
Two days later, I was on my way to the airport when my phone rang.
It’s Yeon.
I debated whether or not to answer it, but I figured it might be the last time, so I pressed the handset button.
“Hello.”
– Brother, I—.
“Yeah, it’s you.”
– Your dad said you heard about me?
“Yeah.”
– I’m sorry, brother.
“For what?”
– It’s just that everything—.
“You don’t have to, I’m over it.”
– I see.
“Yeah, go ahead, forget about it, live happily ever after.”
– Yes, brother. You’re happy, too.
“Yeah.”
My mouth felt bitter.
Live well, stupid girl.
Eh, I don’t know.
Maybe I should find a girl soon.