The Youngest Son of Sunyang

Chapter 164 Slim and Tight 5

Chapter 164 Slim and Tight 5

Prankster.

There's no better word for it.

Didn't the board of directors welcome my decision to separate ownership from management and not get involved in operations? Therefore, it's only natural to select someone to take responsibility for the management on behalf of the owner. The representative they've chosen is an extraordinary talent acknowledged by outsiders and themselves. Manager Jang Do-hyung.

If they oppose this, then all their complaints about worrying about the company were nothing more than empty talk. They were only worried about their own positions. Opposing the promotion of Manager Jang Do-hyung is not only embarrassing Yang Woo-chan, who had praised him, but also making grandfather, who allowed the bold promotion, look foolish. If they agree, they'll have to elevate subordinates who were considered lower-ranking employees until today to supervisors. It's better to remain silent and submit a resignation letter.

If they were put in charge, at least they would have a justification for not quitting.

Being the owner and a major shareholder, it's understandable, isn't it?

"Why are you all making such faces? Does Manager Jang Do-hyung not have the qualifications? Isn't he a trustworthy person?"

Who, and what would they answer?

They exchanged glances with me one by one, but nobody spoke easily.

They were looking at my grandfather, uncertain whether he was waiting for their instructions or seeking their assistance.

However, my grandfather turned away from their gazes and urged for an answer.

"What's this? Are you ignoring the question of the major shareholder? It's not a matter of management but a personnel issue that shareholders should rightfully ask about, isn't it?"

"Well, it's just that it's too radical..." It was the Securities Manager, Go In-gyu, who managed to answer, but this was no different from him falling into a trap.

"A mid-40s executive. Isn't that radical enough? Radical personnel changes are usually radical only at the beginning. Rad-i-cal! Breaking established conventions. Since those conventions have already been broken, the appointment itself, ignoring seniority, has become a convention and formality."

Even President Go In-gyu had become a silenced spectator. Seizing the opportunity, I pushed even further.

"Are there any other Western companies, let's say, of global standards, where someone in their late 40s who joined late has been promoted?"

Finance is a thoroughly Western business domain. Isn't it an industry created by white people from head to toe? They can't deny that these people are leading this field.

"The IMF bailout conditions include the opening of the financial market. While foreign capital is pouring in like a flood, to compete with, utilize, or absorb that capital, shouldn't we do it their way? I thought of Manager Jang Do-hyung as a symbol of that, and I believed that Sunyang had already completed its preparations to jump into global competition. But... judging from your expressions, it seems it was my personal delusion."

I spoke quietly and calmly, but it was taken as a harsh reprimand, and not a single person met my gaze.

"Well, I can see that, no matter what, the first thing you guys need to do is create a flawless report that leaves no room for doubt in response to Do-jun question. How to handle foreign capital, right?"

"We'll... prepare it immediately." When President Yang Woo-chan barely responded, I shook my head.

"No, I have already prepared something. It's better to discuss it together while reviewing that. Ah, if I'm bothering you, you can leave. All the top management of financial companies can gather and discuss it thoroughly, then just inform me of the final results."

"You've prepared something?"

It's true that I've prepared something, but there's no need to tell the whole truth. To put more weight on it and apply pressure, I need to borrow some authority.

"No, I prepared it at Miracle Investment's US headquarters. It took a few months just to analyze Sunyang's financials. It'll be helpful."

The CEOs looked perplexed, but my grandfather showed curiosity.

"I'm curious about what it contains. Analyzing us in the United States?"

"Grandfather, you might find it a bit hard to understand."

"What? Inseong?" How could my grandfather, who only extracts major company policies, grasp the complexities of details? "Alright. Then tell these friends. Even if I don't know, they should, right?"

Up until now, my grandfather had been watching and laughing, but he stopped laughing and began to scrutinize the CEOs.

"President Yang."

"Yes?" He was so startled that it was a bit amusing.

"You'll be investing Sunyang's capital in various places, but there are also many financial products in domestic banks, right?"

"Well, yes."

He looked quite uneasy. As the CEO of a life insurance company, he can't possibly track and analyze every product invested by the company.

Maybe if I ask about the investment products, he'll make a complete fool of myself in front of the chairman.

"In general, those products are described in terms of performance, expected return rate, and safety, among other things. However, they don't explain where my money goes when I invest in that financial product. Also, I don't know what the product I've invested in consists of."

"What do you mean? Bonds, stocks, physical investments... they're all clearly defined."

My grandfather couldn't wait pretending not to know.

"No, it's more complicated nowadays. Even bonds are packaged with various types. For example, they mix the bonds of Florida's residential mortgage-backed securities, UK corporate bonds, and Mexican government bonds."

"It may seem complicated, but they're still bonds, right?"

"Then it's not a big headache. No, there are other things mixed in here too. Right into the return rate of this bundled bond, they include derivative products based on that rate."

"Do-jun. What exactly are you trying to say? Are you suggesting I'm unqualified as a CEO because I don't know the details of such products?"

Once again, Yang, who was quick on the uptake and had good articulation, stepped in.

I decided to cut short my words and refrained from further exclamations. It's best to preserve their dignity and maintain the right balance. These are people I will continue to work closely with, and they have a fair amount of influence.

"No, how can you possibly know all that? The ones who should have an exact grasp are the analysts. If the person responsible for investment, like an analyst, doesn't know the details of the product, they should be dismissed. Executives don't need to know."

"So, what do you think an executive's responsibility is? What should they know?"

"Well, there could be several duties, but the most important one is precisely judging where the water, right under your feet, will stop, wouldn't you agree?"

It's not just Yang who's quick on the uptake; everyone here catches my drift.

"If the water only reaches up to your nose, you're lucky, but if it engulfs your head, there's no way to survive. Isn't that right, Mr. Lee Min-sub, the CEO of Sunyang Card?"