The Highest Level Son of a Chaebol Family - Chapter 389



Only Krnovel

389. Because I wanted to brag a lot

When I opened my eyes, it was the first day of the new year.

‘Ouch, I’m tired!’

I was preparing the groundwork for the acquisition of Gulfsa.

As soon as I got home and washed up, I fell asleep as if I had fainted.

‘It’s all Warren Buffer’s fault!’

I never thought Warren Buffer would be making a public statement in front of the press about the Gulf acquisition and oil field development investment!

‘Thanks to that, not only the press but also people from the political and business world flocked to me like a pack of dogs.’

Yesterday’s year-end party was attended by an unprecedented number of reporters, including the president.

Warren Buffer threw a huge piece of prey to the reporters who were hovering around like rats, hoping to find something to eat.

Everyone was so excited that they rushed in and pressed the camera shutters.

‘Thanks to you, we were able to accelerate our preparations for the Gulfsa acquisition. It actually turned out well.’

They had already secured a friendly stake of 52%.

‘Now that things have come to this, we will definitely push Gulf Sa forward.’

Even if Gulf Saga is surprised and tries to do something more underwater, it won’t be easy.

Since this has been made public through the mouth of a prominent figure like Warren Buffer, there is a high probability that it will be accepted as a credible established fact.

Even if you try to do something with the backing of the U.S. government, you have to be careful now that it has become public knowledge.

This is because the whole world will be paying attention to the news of the acquisition of Gulf, which is ranked 9th in the world in market capitalization.

‘I wonder if your father and grandfather are okay. They must have received a lot of congratulatory messages.’

It was only natural that people would flock to my father and grandfather like a pack of dogs.

Everyone’s eyes lit up, rushing in with the thought of digging up information or of taking a chance.

‘Come to think of it, today is the first day of the new year, the day we all eat tteokguk together at grandpa’s house?’

Taesung is one family!

It was a place where executives from all affiliated companies gathered together and gave New Year’s greetings by eating a huge bowl of tteokguk.

Then suddenly I remembered the first day of the new year last year.

‘Surely I won’t be eating tteokguk on grandpa’s lap again this year, right?’

Oh, I’m already tired!

Knock knock.

“Jeonghyeok, are you awake?”

“Mom, Happy New Year!”

“Happy New Year to you too, Jeonghyeok.”

My mother put her hair up nicely and put on some makeup.

There is no separate lady.

“Should we go to Grandpa’s house? We’ll be late for breakfast.”

“What about dad?”

“Ha, I drank so much yesterday that it almost became rice cake.”

Mother sighed deeply and shook her head.

It was a displeased face.

“I’m so upset I could die.”

“Please understand, Mom. It was a difficult occasion to refuse a congratulatory drink.”

I smiled broadly.

“Then are we going alone?”

“That’s not it, I’m so upset I could die.”

hmm?

“How nice it would be if I could just sleep in a little today?”

Mother clicked her tongue.

“I told you your father is really stubborn.”

“Just look at me today.”

My father kissed my mother lightly on the cheek and smiled.

He is a gentleman who has such a nice hanger that his taste in choosing clothes is also so refined that he doesn’t even have a model.

“It’s a gathering of executives from all affiliates of Taesung Group, so I can’t miss it.”

“Oh my, the smell of alcohol. You haven’t even slept for two hours, so what’s so great about that? You’re still smiling all morning?”

“You saw the newspaper.”

Father smiled happily and lifted the bundle of newspapers.

“Don’t you think eating rice cake soup on New Year’s Day will be so much fun?”

At first glance, the front pages of newspapers were full of Taesung’s name.

My father folded the newspaper he had spread out neatly and tucked it under his arm.

It was a happy face.

“We should brag to the world that this is all done by our Jeong-hyeok.”

“Okay.”

“Really not possible?”

“Hold on.”

“Then how about just for your family, including your brother and sister-in-law?”

“Are you crazy? Today is my father’s first New Year’s greeting since becoming the Vice Chairman of Taesung Group.”

I waved my hand.

“Dad, it’s time to verify your qualifications as Vice President?”

“What does that have to do with anything?”

My father hugged me tightly.

“The vice president position was also given to our Jeong-hyeok to pave the way for his future.”

“Oh my, Dad, you smell like alcohol!”

“Hahaha, Dad was in a really good mood yesterday. Just let me have fun today.”

My father hugged me tightly.

“Dad, I want to brag to everyone at Taesung Group about how great our Jeong-hyeok is.”

My father was very sorry.

“Our son doesn’t understand his father’s feelings and only thinks about passing all the credit to him.”

My father’s sighs were mixed with the scent of alcohol.

“This won’t work. Our Jeong-hyeok needs to grow up quickly. I can’t wait long because I want to make Dad proud.”

My father patted me on the back.

“Jeonghyeok, today you will eat two bowls of tteokguk. Got it?”

Dad too.

“yes.”

“In the meantime, Dad will pave the way for our Jeong-hyeok.”

“yes.”

Our father and son looked at each other and smiled brightly.

Mother urged Father, pushing his back.

“Go quickly. There’s already going to be a lot of talk about you being promoted to vice president, beating out your older brothers, and I don’t want to get any more glares from people for being late.”

So we headed to Pyeongchang-dong early in the morning to have breakfast and greet the New Year.

* * *

My grandfather’s house located in Pyeongchang-dong, Jongno.

The parking lot, which can accommodate 50 cars, was full of luxury sedans.

widely.

As my father got out of the car, middle-aged gentlemen in suits rushed to greet him.

“Vice President, are you here?”

“Vice President, Happy New Year.”

The presidents and executives of Taesung’s 50 affiliated companies stopped walking toward the mansion and cheered.

There were quite a few executives with newspapers tucked under their arms.

“Vice President, what is all this?”

“Is our Taesung really taking over Korea Petroleum Corporation?”

“But is this even possible? How big must Yugong be?”

Yukong’s corporate valuation is approximately $400 million.

Even for Taesung, it was not a scale on which he could easily decide to take over.

“If you just look at the newspapers, it seems like Yukong’s acquisition is almost certain, but there hasn’t been any talk about it until now.”

Everyone was very interested.

That was understandable.

It was an absurd situation.

“There has never been a single rumor about Yugong being handed over to the private sector.”

“Since Gulf Holdings holds a 50% stake in Yukong, that was an impossible task from the start.”

“I don’t think the government or Gulf states are unaware of that fact.”

“How on earth did things turn out so suddenly?”

Usually, rumors of a company’s crisis first spread, and when it is about to undergo rehabilitation or bankruptcy procedures, negotiations for an acquisition are initiated under the mediation of the government or financial sector.

However, in the case of Yugong, many of the procedures related to this were omitted.

“There were rumors that Yukong’s deficit had piled up significantly in the aftermath of the second oil crisis.”

“But there were no signs that Gulf, Yukong’s largest shareholder, was on the verge of bankruptcy.”

“Furthermore, the government is lukewarm about the transfer of construction work to the private sector.”

At that time, a group of people and someone entered the Pyeongchang-dong mansion.

He was my second eldest uncle, a man in his 30s with crossed eyes and a faint smile hanging from the corners of his mouth.

“Just looking at the newspaper, it seems like our Taesung passed the takeover.”

“Your Majesty the Standard.”

“Are you here, brother?”

My second uncle chuckled.

“Is it even possible to have a takeover in this day and age? Anyway, these journalists are known to spread rumors as if they were established facts without any sense of responsibility.”

The second eldest uncle asked with squinted eyes.

“Seongjun, I guess I should prepare for the correction article.”

That was my second uncle’s conclusion.

The Taesung Food executives who followed my second uncle also nodded.

“I heard that Gulf is asking for 1 billion dollars. Where in Taeseong do we have that kind of money?”

“Things are going weird with the Warren Buffer investment news. Hahaha!”

My father spoke bluntly.

“I don’t think there’s any need to prepare a correction. It’s all true.”

“what?”

“Everything in the newspaper was true.”

“… … !”

Executives of Taesung Group affiliates gaped in amazement.

It was an expression that said he couldn’t even imagine it.

My second eldest uncle, who used to smile so kindly that the corners of his eyes curved, suddenly frowned.

“You can’t be sure that the Warren Buffer investment news is true, right?”

“Why not?”

My father held my hand tightly and smiled.

“It is all true, including that Taesung passed the acquisition of Yukong by surprise, and that Warren Buffer expressed his intention to invest in Taesung.”

“Whoa!”

Executives from Taesung Group affiliates screamed.

My father gave a small bow to my second uncle.

“I don’t think this is something worth discussing on the street. Let’s go inside and discuss the details.”

My father walked briskly, holding my mother’s and my hands.

The Taesung Group executives who had surrounded us parted like the Red Sea and followed my father busily.

My second eldest uncle also quickened his pace and stood close to my father.

“How much acquisition capital do you expect?”

“Twenty-five million dollars.”

“what?”

“Just as it was in the newspaper. We acquired 50% of Yukong’s shares from Gulf for $25 million.”

The shouts of joy heard from behind were mixed with screams of horror.

Father smiled brightly.

“For reference, the shares of Yukong that were transferred separately are also around 37%.”

“If you push things forward so recklessly, it will be useless.”

My second uncle forced a smile.

“There will probably be quite a bit of backlash from the Yukong side. Are you confident that you can handle it?”

“I will accept it gratefully, humbly, and obediently.”

“what?”

“Yesterday, Yukong’s CEO Kim Byeong-sik already signed and stamped the merger and acquisition agreement.”

“already?”

As the father continued to answer, the Taesung Group executives cheered, “Eww!”

He had a very excited face and could hardly hide his excitement.

A furrow began to form between my second uncle’s eyebrows.

“The government will likely maintain its position that it does not welcome the transfer of construction to a private company, so how could that happen… … .”

“It is something that the President has readily given permission to take.”

“Readily?”

“I’m talking about the 37% of Yukong’s shares that were separately transferred. Who do you think took care of it and how?”

My father took the lead and led the Taesung Group executives like a man playing the flute.

I walked briskly and entered my grandfather’s mansion before my second uncle.

“If you add up what the Chief of Staff gathered according to His Excellency the President’s orders, what the conglomerates offered, and the friendly shares of several banks, that’s the total.”

Among the Taesung Group executives who followed, cheers of “Wow!” began to be mixed with whistles and applause.

It was truly the moment when ‘Taesung ate Yukong for 25 million dollars!’ became an established fact through the mouths of the parties involved.

“How far has the conversation with Your Majesty progressed?”

“We’re done talking about supporting Taesung’s development of Middle Eastern oil fields.”

“Support for oil field development in the Middle East?”

Everyone suddenly stopped cheering and jumping around like screams.

I was half out of my mind, looking at my father with a face of disbelief.

It was the same with my second uncle.

“That’s ridiculous.”

“Yesterday, I received confirmation from His Excellency the President that he would provide $100 million in support.”

“… … !”

Everyone’s mouths were wide open.

That included me.

‘That damn Demon King promised 100 million dollars in support?’

It was the first time I heard it.

At that moment, the smile that was always at the corner of my second uncle’s mouth hardened.

“how?”

“Do I have to report that to you, brother?”

His father is the vice chairman of Taesung Group.

It was my second eldest uncle, not my father, who should have been reporting to my father.

But my second uncle smiled wryly.

“I was trying to get brothers to share their worries openly, but you’re being so harsh.”

“So instead of coming upstairs all day yesterday, you were stuck in the lobby, holding on to bankers and ruling party members and lobbying them?”

I could hear mutterings from behind.

But instead of looking back, my father just walked forward.

“Even so, the vice president position will not change.”

My father’s strides were confident and confident.

Unlike my second uncle, who was full of hesitation, impatience, and anxiety.

“There will be no division of Yukong’s shares among his older brother and nephews.”

My father raised his hand as if to show me something.

“This is our Jeonghyeok’s fault.”

My father warned my second uncle.

“I’m telling you not to try to look down on someone without even knowing the topic.”