abcnovels
Chapter 16
Chapter 16
Chapter 16: Bait for Whom
A chilling atmosphere lingered in the dining room where the family gathered for a meal.
Everyone around the table was busy gauging each other’s reactions, curious about what kind of answer Shin-woo would give to Myung Joong-Hwan’s proposal.
“What exactly do you mean by taking charge of KITE?” Shin-woo asked, his bold question causing Myung Joong-Hwan to smile.
“What position would you prefer? Like before, would you want something neither too high nor too low?”
“Well, since we’re at it, I’d like a higher position this time.”
At that moment, the faces of the other family members became noticeably tense. Shin-woo noticed but deliberately ignored their reactions and stared directly at Myung Joong-hwan.
“The higher the position supported by thin pillars, the more likely it is to falter and collapse. Are you still fine with that?”
He was pointing out that Shin-woo’s current foundation was weaker compared to the other family members. Shin-woo understood this well.
“It’s my responsibility to figure out how to reinforce those thin pillars and make them stronger.”
“So, you’re confident?”
“As long as you give me the necessary authority.”
“You’re saying you’re prepared to bear the full consequences if something goes wrong?”
“If responsibility is required, I’ll take it.”
Hearing this, Myung Joong-hwan glanced around the table at the rest of his family. They were all content with maintaining the status quo, preferring stability over growth. Even the eldest grandson, Myung Un-seok, who led the recent projects at the Strategic Investment Planning Office, wasn’t much different.
His own children, Myung In-chul, Myung Seong-cheol, and Myung Soo-yeon, were no exception.
This is why Myung Joong-hwan found Baek Shin-woo, the more aggressive and ambitious grandson, born out of wedlock, so fascinating.
“Fine. You’ll take the position of CEO at KITE, a subsidiary of MH Tech.”
At this, the family was even more shocked than before.
Myung In-chul, who had been silent until now, felt compelled to intervene.
“Father! Baek Shin-woo is only twenty-three years old. Even if it’s a subsidiary, assigning him such a position is a heavy burden. KITE’s operations are also very different from investment management.”
KITE, after all, was primarily focused on corporate security and personal protection services.
“KITE is already a well-established company. There’s little risk involved, and any issues that arise can be dealt with afterward.”
“But KITE is responsible for more than just external security; it also handles the family’s private protection.”
“And don’t those teams follow orders from you and the others more than from KITE?”
The special security teams operated independently, separate from KITE’s usual management.
“Still…”
“Are you expecting me to convince you here and now?”
“…”
Silence filled the room once more.
Myung Joong-hwan turned his attention back to Shin-woo.
“What do you think about becoming the CEO of KITE? Do you think you can grow it into something more significant, whether through funds, influence, or anything else?”
This was an acknowledgment of Shin-woo’s limited experience, but it was also an offer with an advantage.
Of course, Shin-woo wasn’t someone to accept it at face value.
“If I’m going to grow the company, I’d want full control.”
“Can you do it?”
“We’ll only know once I try. But sure, I’ll take the position. When do I start?”
Shin-woo wasn’t entirely sure what Myung Joong-hwan’s intentions were in offering this position.
Moreover, KITE also included the security team that protected Myung In-chul. It was both a chance to inspect the inner workings of the group and akin to stepping into enemy territory.
“I like your decisiveness,” Myung Joong-hwan said.
“But…”
It was clear Shin-woo had conditions. The tension in the room immediately thickened as everyone realized what was happening.
Who would dare place conditions on Myung Joong-hwan?
The silence grew heavier than before.
“I want full and solid authority. Without it, control won’t be effective, and progress will be hindered, resulting in conflicts. Naturally, those conflicts will get loud.”
“…Conflicts, you say?”
“I’ll break through them. Of course, there’ll be plenty of noise.”
At that moment, Myung Joong-hwan set down his chopsticks, making his decision.
“I’ll give you a 5% stake in KITE. I own all of KITE’s shares anyway, so you’ll become the second-largest shareholder, following me, and sit in the CEO’s chair.”
“That’s sufficient.”
“But I also have a condition. Within three months, you must generate profits at the Strategic Investment Operations Office equivalent to what you made last time. Otherwise, you’ll only be CEO of KITE for three months.”
Even with these conditional terms, Shin-woo’s gaze didn’t waver for a moment. In truth, generating that level of profit was comparable to the 5% stake in KITE.
“That’s fine with me. Let’s do it.”
“It’s settled then.”
A satisfied smile spread across Myung Joong-hwan’s face.
Meanwhile, except for Im Hee-yeon, the other family members wore expressions as sour as if they had swallowed something bitter.
Until now, Myung Joong-hwan had never transferred shares to any of his children.
While KITE was technically a subsidiary with no direct involvement in corporate governance, the fact that he had acted on his trust in Shin-woo still made the others uneasy.
.
.
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Evening
After having dinner at the Pyeongchang-dong mansion, Myung In-chul found himself sitting in an upscale bar in Gangnam, tending to other business.
Not long after, his younger brother and second son of the Myung family, Myung Seong-cheol, entered and sat beside him.
“You’re early.”
“Why did you call me? Oh, I’ll have the usual drink here.”
As Myung Seong-cheol casually placed his order, Myung In-chul watched him and spoke.
“I was wondering what you think about Father’s intentions.”
“Father? How would I know what’s going on in that old man’s head?”
“You must have thought about it at least once.”
The two brothers were usually busy keeping each other in check over MH Group’s management rights. Because of their rivalry, Seong-cheol found it hard to understand why In-chul had asked to meet now.
“Anyway, you’re the heir of MH Group. What’s got you so worried?”
The slightly mocking tone caused a twitch in In-chul’s brow.
Meanwhile, the whiskey that Seong-cheol had ordered was poured into a glass over ice.
“Do you really think so?”
“…What do you mean?”
“I don’t understand Father’s thinking. Especially with him accepting Im Hee-yeon and her son…”
“To be honest, that surprised me too. Why would he bring in that woman when he’s been using her like a shadow all this time? Could Father be… having second thoughts?”
At that, In-chul paused mid-sip of his drink.
“Second thoughts?”
“You never know. Father might be…”
Even though Seong-cheol didn’t finish his sentence, In-chul could easily infer the meaning.
“Are you suggesting that he might be considering her as a successor?”
“No, I’m not saying that. It’s just unsettling. So, is this why you called me here? Ah, bartender, another round here.”
The bartender refilled his glass, and after a moment, In-chul tapped his fingers on the table and spoke.
“I heard that there was a major incident involving Executive Director Joo Seong-man at MH Retail recently. Something about over 3 billion won, wasn’t it?”
“…Hyung, what are you trying to say?”
**Tl/n: Hyung is a Korean term used by a male to address or refer to an older brother or an older male friend, Previously I have used brother/Sister as we normally do, Tho I will go on using the Korean terms from now on.**
The MH Retail scandal had been caught by Im Hee-yeon while she was still in the Strategic Planning Department.
Of course, Executive Director Joo Seong-man was found guilty of embezzlement due to the rebates he had received over the years. He was now in custody, awaiting trial. However, the 3.2 billion won that had gone through the rebates had yet to be recovered, causing headaches for the company.
“How long do you think Joo Seong-man will keep his mouth shut?”
“…I don’t understand what you’re trying to say.”
Feeling thirsty, Seong-cheol downed his glass in one go.
“If you’re going to do it, do it properly. What’s 3 billion won?”
“…”
“How long can Joo Seong-man keep quiet? And do you really think Im Hee-yeon doesn’t know you’re involved?”
The MH Retail rebate embezzlement scheme had been orchestrated by none other than Seong-cheol.
Joo Seong-man had kept quiet because he believed that Seong-cheol would protect him.
However, this conversation made it clear that the situation wouldn’t go down smoothly.
“…Hyung, are you threatening me?”
“Threatening you? We’re brothers. What could I gain from that? I’m just letting you know that Im Hee-yeon isn’t sharpening her knives for me alone.”
Seong-cheol felt his throat grow even drier.
“She’s after me? Over just 3 billion won? Hyung, you’re on a whole different level than me!”
“What do you mean?”
“Don’t act innocent…!”
Until recently, Myung Joong-hwan hadn’t mentioned anything about MH Electronics. Now, though Seong-cheol had suspicions, he lacked solid evidence.
“Ahem! Anyway, what do you expect me to do?”
Once again, In-chul tapped his fingers on the table and spoke.
“How about we bring your son, Jin-seok, into the headquarters?”
At that, Seong-cheol, who had been about to lift his glass, turned sharply to look at his brother.
“My Jin-seok? In the headquarters?”
The power dynamics within MH Group ultimately revolved around positions of authority.
How many people you could place in key subsidiaries determined your faction’s strength.
Naturally, holding a position in the headquarters significantly impacted the succession ranking as well.
But up until now, Myung Jin-seok, the son of the second son, had not been able to enter the headquarters since Myung In-chul was already seated as the president.
“That’s right. Isn’t he currently the Head of Product Planning at MH Food?”
“…He is. So, you’re really suggesting Jin-seok enter the headquarters?”
“His experience at MH Food should be sufficient. It’s about time for him to move up.”
This was an opportunity that Seong-cheol couldn’t have wished for more.
However, hearing this proposal right after the mention of Joo Seong-man’s rebate scheme naturally made him suspicious.
“What do you want in return, Brother? You wouldn’t make this offer without a reason.”
“Two is better than one, don’t you think?”
“…Two?”
Seong-cheol looked puzzled, not fully understanding.
“You’re aware that Un-seok is currently under Im Hee-yeon, right?”
“Of course.”
“He’s there to learn from her. But while that’s happening, Baek Shin-woo has started catching Father’s eye.”
“…True.”
“So why not send Jin-seok to join him? The Strategic Investment Audit Office could be a good fit.”
Seong-cheol’s surprise intensified.
The Strategic Investment Audit Office was responsible for reviewing every project handled by the Strategic Investment Headquarters.
In essence, it functioned like an internal audit team with immense power.
In some ways, the role could even surpass that of Myung Un-seok’s position in the Strategic Investment Planning Office.
“…The Audit Office? Are you serious?”
“My son makes progress in the Planning Office, and your son could act as a brake on Baek Shin-woo in the Audit Office.”
“But the results…”
“I’m not saying just to block him. In the Audit Office, Jin-seok could evaluate and analyse the profits that Baek Shin-woo is generating. Don’t you think he’d learn a thing or two?”
Hearing this, Seong-cheol nodded.
“Ah…”
“If Jin-seok does a good job of applying the brakes, the CEO position at KITE that Father promised Baek Shin-woo will end after the initial three months.”
From the beginning, this had been Myung In-chul’s goal.
When Myung Joong-hwan offered the CEO position at KITE to Baek Shin-woo along with 5% of the shares, In-chul had seethed with frustration.
But rather than showing it, he had silently planned for this moment.
“What do you think? Sound good?”
Seong-cheol didn’t need much time to decide.
“Great. The transfer will happen soon, right?”
“Of course. Don’t worry about it.”
The Two brothers clinked their freshly filled glasses together.