The Youngest Son of Sunyang

Chapter 59 Fight or Sports? 2

"Chairman, you must accept this proposal."

"Mm."

The tightly closed lips and furrowed brow spoke volumes about how angry Chairman Ju was, but the key figures in the group didn't hesitate for a moment.

They had to prevent a catastrophe where Chairman Ju's temper led to overturning a well-prepared meal.

Considering the effort they had put into securing A-jin Motors, basic unity was necessary. The proposal outlined the details: A-jin Motors' debt of 3.28 trillion won, A-jin subsidiary's debt of 1.58 trillion won would be reduced. The remaining debt of 2.52 trillion won would be converted into equity.

An astonishing 7.38 trillion-won debt reduction proposal.

Thinking about the money spent, the alcohol consumed, and the women entertained while trying to secure this proposal from bank creditors and government officials made their heads spin.

Furthermore, they hadn't received confirmation yet, but there were rumors of an acquisition price, subtly mentioned1.2 trillion won.

When you considered all the effort and cleaning up A-jin Group's tarnished reputation, the cost was just 1.2 trillion won.

Such a lavish feast would not come around again anytime soon.

But if they dared to touch the debt reduction proposal offered by Miracle Investment, they would have to prepare the feast all over again.

While the acquisition price could be increased by 100 or 200 billion won, there could be no renegotiation of the debt reduction.

The people from Daehyun Group were truly grateful for Miracle's unity proposal.

"It was a difficult negotiation to pull off. We must not touch the debt reduction terms."

Seeing the faces filled with earnestness, Chairman Ju couldn't simply lose his temper.

"You there, do you have a lot of money? Can you spend trillions?"

"It's not easy for us to gauge the financial strength of Miracle Investment, just as they might not know our financial capability. After all, it's all American capital, right? But..."

"But what?"

"According to our investigation in the US, it's expected that there will be sufficient ammunition. Miracle is known as a big player in Hollywood. It's said that there hasn't been a single hit movie without Miracle's involvement."

Chairman Ju was shaken by the mention of Hollywood movies.

In 1993, when Steven Spielberg's "Jurassic Park" was released, President Kim Young-sam emphasized the importance of the film industry, saying, "The box office revenue of one movie is comparable to exporting 1.5 million cars."

No matter how ignorant one might be, comparing two entirely different industries based solely on profit was absurd.

Thanks to such statements, even though they were incorrect, the leading figure in the Korean automotive industry, Daehyun Group, was unfairly branded as a symbol of an era that was obsessing over an outdated business.

"There's one really important point. Miracle hasn't had a single failed investment in any of the movies they've funded."

"That's right. Their investment sense is out of the ordinary. A person like that wouldn't enter a losing battle in a money war. Chairman Ju always said that when they reluctantly reach out a hand, it's a way to stop the bleeding."

"That reaching-out hand..." Chairman Ju fell silent for a while. His decision to accept the unity proposal without shouting or causing an uproar was implicit.

As Chairman Jin flipped through the front-page advertisement of Hanseong Daily, he set the newspaper down with a satisfied expression.

"The ending is good. It builds anticipation."

"Was this produced by Sunyang Planning?"

"Yes."

"Chairman Song Hyun-chang has been doing a lot of interviews too. Did you arrange that, Grandfather?"

"No, that's not it. Chairman Song is doing it himself. I've heard that even with Oh's firm grip on the reins, Chairman Song has a lot on his plate." Grandfather smiled at me. "Has Ju Young-il come and gone?"

"Yes. He said he would compensate if we withdrew from the acquisition battle."

"Haha. That ambitious fellow. He's busy with his own affairs, but someone trying to catch up to him appears, and he becomes restless. He's even making those challenging strides. So, what did you say?"

"I suggested that we compete with dignity based on the acquisition price alone and make sure to grab all the benefits the government offers. He said there's no need to unnecessarily cut into their own flesh."

"And? What did you say to that?"

"Oh-Sehyun told him not to oppose it and suggested we give it a proper go..."

"Haha. Looks like he's gotten a bit worked up."Grandfather continued to laugh as if he were enjoying a very amusing game.

"Give me a hint. How do you think Chairman Ju will react?"

"You've already guessed, haven't you? If it were me, would I have considered rejecting the proposal?"

"Yes."

"So? What's the answer?"

"He'll accept it. The amount for the debt reduction is already fixed, so he wouldn't want to introduce new variables."

"You got it right. The scariest thing for someone in business is always those unexpected variables. When I was working on the Asan Dam project, the project completion date kept getting delayed indefinitely due to the unpredictable weather conditions along the western coast. A project that was supposed to be finished quickly ended up dragging on, and all the money we were losing every day was debt, so I was driven to madness."

Here it was again, memories from the past.

Wouldn't it be so much easier if people just told you the core and the essence of things? But then again, this gentleman had grown old. He lives more than half of his current time in memories.

At times like this, it's filial to remain silent and listen.

"The unpredictable weather, that was an unexpected variable. I used to think how nice it would be if you could buy the weather with money. Similarly, Chairman Ju must want to buy variables with money right now. But why refuse when you can eliminate half the variables without spending money?"

Got it. The two chairmen are the same person.

Now, all we have to do is wait for the news that Chairman Ju has accepted the unity proposal.

"But, Do-Jun."

"Yes."

"Now we... no, you've used up all our cards. Chairman Ju hasn't used his cards yet. He's going to start a massive counterattack."

"Through the media, I presume?"

Grandfather nodded. "Not only the media, but also persuading the bondholders and the acquisition review committee. The government, the National Assembly, and the Blue House officials who have been taken care of by the Daehyun Group will also apply pressure." Grandfather's tone sounded somewhat suspicious.

This chapter upload first at NovelBin.Com