Chương 518: CH519
Chương 518: CH519
After finishing the countermeasure meeting, Seok-won left the WB Bank headquarters, seeing off President Go Youngil and the other executives. He sank into the plush backseat and gazed expressionlessly out the car window.
The faint, pleasant smell of leather reached his nose as the large Mercedes sedan glided down the road, its engine almost inaudible.
As he stared across the wide Han River at the rows of apartment complexes, he organized in his head the conversations from the meeting. Just then, the phone in his pocket began to vibrate.
He frowned slightly at the unfamiliar number flashing on the screen and answered.
"Hello."
[Mr. Park, it's me.]
At the low, heavy voice of Vladimir Putin, Seok-won's eyes flickered sharply. Then, switching smoothly to English, he replied:
"Since you've called me directly, I assume you have good news."
[Hahaha. As perceptive as always, I see.]
Putin chuckled leisurely.
[Tomorrow, President Ivanov will give a national address. He'll announce that the parliamentary elections scheduled for December will go ahead as planned, and at the same time, he'll dismiss the Prime Minister.]
"And you'll be nominated as the new Prime Minister."
Putin didn't deny it and readily acknowledged.
[As long as there are no unexpected twists, yes.]
Seok-won gave a small nod, knowing events were unfolding just as in his memories before regression, and offered his congratulations.
"Considering the scandals among his close aides and his deteriorating health, President Ivanov will find it difficult to run again in next year's election. In truth, this is no different from declaring you his successor. Congratulations on becoming the new master of the Kremlin."
[The official announcement hasn't been made yet, and the approval of the State Duma is still pending. Isn't it a bit early for congratulations?]
At his uncharacteristic display of modesty, Seok-won chuckled silently with the phone to his ear.
"The State Duma's approval is little more than a formality."
[Well, that may be, but if I fail to win next summer's election, this power will be nothing more than a short-lived authority, a few months at best.]
"You don't intend to hand over the power you've seized so easily to someone else, do you?"
When Seok-won asked with a grave expression, Putin's voice dropped low over the line.
[Of course. In all my life, I've never had anything taken from me.]
"I figured as much."
[I need funds for the election. Could you help me?]
He bared his teeth in a smile as he spoke.
"Of course. Just tell me how much you need."
As if he had been waiting for that reply, Putin answered right away.
[Let's say… one hundred million dollars.]
"That's quite a sum."
[Would that be difficult?]
The provocative tone in Putin's voice—almost as if questioning whether Seok-won's capacity was only that small—made Seok-won smirk inwardly.
Adjusting his grip on the phone, Seok-won replied in a relaxed manner.
"I'll have it sent within three days."
Putin, who had been testing him, was taken aback. To hear that this man could casually produce such an enormous amount—one hundred million dollars—in just three days was startling.
But only for a moment.
Realizing that Seok-won not only spoke boldly but also had the wealth and willpower to back it up, Putin's demeanor softened noticeably.
[I won't forget this favor.]
Then, as if suddenly remembering something, he added,
[Ah, and the Severstal will complete its overhaul on schedule and depart from the Sevmash shipyard in Severodvinsk in fifteen days. You needn't worry.]
It was merely the fulfillment of the agreement with President Ivanov, but the way Putin delivered it—as though he were doing Seok-won a favor—made Seok-won's gaze turn cold.
Yet without letting it show, he replied with a cordial tone.
"Thank you for the update."
[Hahaha. Friends should help one another, don't you think?]
"You're absolutely right."
Though his voice was bright, Seok-won's eyes did not smile.
[Then I'll be in touch again.]
As Putin ended the call, Seok-won slipped the phone back into his coat, his eyes turning icy as he muttered to himself,
"Friends, huh… For now, maybe. But the moment I'm no longer useful, he'll bare his fangs at me."
Naturally, he had no intention of letting that happen.
On the contrary, he fully intended to place Putin in the palm of his hand and squeeze every possible gain out of him.
Leaning back into the plush seat, Seok-won turned his head, his expression sinking as he gazed out the car window.
***
The chairman's office at Daegwang Group headquarters, across from Seoul Station, was wrapped in heavy silence.
Dark clouds loomed outside the window, threatening rain at any moment, as if to mirror the crisis Daegwang Group was facing.
In the center sat Chairman Yoo Choonseok, a cigarette between his lips, surrounded on the leather sofas by grim-faced executives. Tension and unease were etched deeply into their expressions.
The crystal ashtray on the solid wood table overflowed with cigarette butts, and a hazy layer of smoke filled the room from the endless chain of cigarettes. Yet no one thought to open a window for air.
Everyone was anxiously waiting to hear the outcome of the creditors' meeting being held at that very moment at WB Bank's headquarters in Myeongdong.
Chairman Yoo, the group's head, was no exception. His bloodshot eyes and exhausted face betrayed many sleepless nights spent grappling with the rapidly escalating situation. The cigarette wedged between his fingers had already burned halfway down, but he only exhaled smoke through tightly pressed lips.
A closer look revealed that the hand holding the cigarette was trembling ever so slightly.
Time crawled by until finally—
A knock sounded, and Managing Director Jung Jinwoo entered through the solid wooden door.
As if on cue, every eye in the room turned to him.
Crushing out his cigarette in the ashtray, Chairman Yoo leaned forward, his voice hoarse and urgent.
"How did the creditors' meeting go?"
His piercing gaze bore down on Jung, who hesitated, unable to respond right away.
Chairman Yoo's brows furrowed, and he pressed him even harder.
"This is infuriating. Speak up already!"
Managing Director Jung Jinwoo, wearing a grim expression, handed the file he had been holding in one hand to Chairman Yoo Choonseok, who was seated on the sofa.
Yoo quickly grabbed the file and began scanning its contents, his face gradually hardening.
"Daegwang Co., Ltd. is to be split into construction and trade divisions. The construction division will be immediately separated as a subsidiary, and the shipbuilding segment of heavy industry will also be spun off for foreign investment or sale. Electronics will be separated and then sold… As for Daegwang Securities, Diners Club Korea, and Daegwang Mechanical Industries, the creditors will take them first and then sell them off through a settlement process."
Yoo's face turned bright red as he slammed the file onto the table.
"They want to tear our Daegwang Group to pieces!"
He shouted, glaring furiously at Jung, who sat on the sofa to his left.
"Did you bring this nonsense as a proposed plan? What on earth did you do at the creditors' meeting?"
As Yoo's voice rose, CFO Ahn Sungjin quietly picked up the file and scanned it, his face pale as he let out a low, shocked sound.
"Speak if you have an explanation!"
"I'm sorry."
Jung Jinwoo bowed his head deeply, and the others immediately guessed that the creditors' meeting had produced bad results.
Yet no one had expected a proposal that was practically a blueprint for dismantling the entire group, so they all looked utterly stunned.
As Yoo Choonseok's booming reprimands filled the room, the executives who had seen the creditors' decision slumped in their seats or let out deep, despairing sighs.
"Ha… I can't believe this…"
"If everything is cut like this, we'll be left with nothing but scraps."
"How did our Daegwang Group end up in this state…?"
"If both the securities firm and the credit card company are sold, the financial division will essentially be gone entirely."
Amid the executives' shocked and desperate murmurs, Jung Jinwoo, who had been listening to Yoo's rebukes in silence, lowered his head like a guilty man and spoke in a timid voice.
"I have no excuse. I tried to minimize the number of subsidiaries being separated and sold, but the government and creditors were too rigid. There was nothing else I could do."
Knowing that he had attended the creditors' meeting only to be informed of decisions, with no real say, Yoo could no longer vent his anger at Jung.
"Ugh…"
Yoo groaned, clutching his head, his face twisted in fury as he shouted.
"I absolutely cannot agree to this kind of plan!"
"But, Chairman…"
Managing Director Jung Jinwoo hesitated, clearly uncomfortable, before speaking.
"If we don't submit the consent forms to the government and the creditors by tomorrow… they said they'll immediately cancel the workout and recall all the funds they've lent."
If that happened, the Daegwang Group, already running on empty cash reserves, would inevitably collapse.
The faces of CFO Ahn Sungjin and the other executives turned pale, while Yoo Choonseok slammed his palm against the sofa armrest, his eyes glinting with fury.
"Are they trying to threaten me?!"
Facing Yoo's raw intensity, Jung Jinwoo spoke in a serious tone.
"It wasn't just pressure. If the creditors' decision isn't followed, they were fully prepared to start recalling the funds."
A tense unease spread through the executives. Yoo clenched his fists tightly, his body trembling, and ground out through clenched teeth:
"Grr… these bastards."
Watching Yoo's reaction, CFO Ahn Sungjin pulled out a handkerchief to wipe the sweat from his forehead and spoke cautiously.
"The excessive workout plan is a problem, but there's an even more serious issue."
"What do you mean by that?!"
Yoo glared at him, irritation written across his face. Ahn scanned the gathered executives before continuing, his voice edged with urgency:
"If we go into the workout as it stands, the creditors' audit of the affected subsidiaries will inevitably uncover irregularities in the accounting books."
"…!"
The moment Yoo Choonseok heard the news, his heart sank.
During the rapid expansion, the Daegwang Group had manipulated its accounting books to make the company's performance appear better than it actually was, allowing it to take on even more debt.
After the foreign exchange crisis hit and the non-performing loans grew, these accounting manipulations became more blatant and widespread across the entire group.
The total hidden amount of this creative accounting reached a staggering 50 trillion won.
Behind the grandiose notion of "global management," the reality was a mirage—a sandcastle built from deception and colossal debt.
If this came to light, the problem wouldn't just be the sale of subsidiaries. Yoo Choonseok swallowed hard.
"Is there any way to hide the falsified accounts?"
Hastily asking, CFO Ahn Sungjin shook his head weakly, as if resigned.
"As you know, the scale is too massive. It's impossible to conceal."
"Damn it!"
Yoo's face twisted in fury, and he spat out a string of curses.
The other executives present realized there was no way to salvage the situation. They all squeezed their eyes shut or stared ahead with grim expressions.
The following day, after sending the consent forms to the creditors, Yoo Choonseok hurriedly left the country, claiming he was going to inspect the Daegwang Automotive engine plant construction site in Yantai, China.