Third-Generation Chaebol

Charlotte Group executive meeting.

It was held roughly once a month.

That alone was a sign of how troubled Charlotte Group's situation had become.

And today, even Vice Chairman Jin Dong-gu, who managed the Japanese Charlotte Group, was attending.

"Sales at Charlotte Mart and department stores in China have begun to rise, albeit slowly."

"Tsk tsk, at that slow pace, when do you expect to recover the investment? It'll take another fifty years."

"Though Charlotte Group was hit by the Japanese boycott, the situation is improving."

"We have to consider that sales in the Chinese market have already hit rock bottom.

So it's best to profit in the U.S. market until the China situation gets better."

Chairman Jin Ho-gyun brought up the U.S. market.

Since the Federation of Korean Industries meeting, he'd been talking about the U.S. market every day to the point the executives had grown almost deaf to it.

The U.S. market and the new headquarters site—

These were Chairman Jin Ho-gyun's biggest concerns, and the reason for this executive meeting.

But since there were no clear solutions, the attendees lowered their heads, hoping time would pass quickly.

Of course, not everyone felt the same way.

Jin Dong-o, who bore responsibility for the China market failure, was desperate to break into the U.S. market.

To do so, Charlotte Group had to be selected as the exchange partner for the THAAD site.

"If Charlotte Group alone can provide the THAAD site, we can secure White House support. So no matter what, we need to outmaneuver Hyundai Motor Group and become the selected party."

"Who doesn't know that? Stop stating the obvious and tell me how you plan to do it."

"In the end, the site selection is a political decision, especially with the U.S. side holding the reins. Hyundai Motor Group may have a strong grasp of Korean politics, but their influence does not extend to U.S. politics."

In other words, we need to lobby.

Charlotte Group had maintained good relations with Korean politicians for decades, but could not compare with Hyundai Motor Group.

Therefore, targeting U.S. politicians was the only way to gain the advantage.

"How do you plan to move U.S. politicians? Even if you're lucky enough to have connections, wouldn't you have to spend billions on lobbying funds? If the tail becomes bigger than the belly, it won't mean anything even if we get selected."

"There is a way to move U.S. politicians without spending money."

"Where on earth is this way? Tell me."

Chairman Jin Ho-gyun looked at Vice Chairman Jin Dong-o with a suspicious gaze.

Vice Chairman Jin Dong-o smiled confidently and slowly spoke.

"With the help of Chairman Kim Min-jae of Tae-woo Group, it is definitely possible. From what I've learned, the White House had Tae-woo Group in mind from the very beginning; the Federation of Korean Industries meeting was just a formality."

"Then why did Chairman Kim suddenly give up at the Federation meeting?"

"Probably because of concerns about the Chinese market. Unlike us, Tae-woo Group is making high sales in China."

Vice Chairman Jin Dong-o raised his voice confidently.

But the expressions of the other executives twisted simultaneously.

It sounded as if he were boasting about the failure in China.

"Let's suppose that's true. Then do you have any way to make Chairman Kim help us?"

"If he has any conscience, he will help us. Without Charlotte Group, how could Tae-woo Group have built its new headquarters? And if Tae-woo Group didn't exist, we wouldn't have suffered such heavy losses in China!"

Everyone's faces flushed red.

All the executives lowered their heads in shame at Vice Chairman Jin Dong-o's words.

They believed it was Vice Chairman Jin Dong-o, not Chairman Kim Min-jae, who lacked conscience—but no one dared to show it.

Because Vice Chairman Jin Dong-o was favored by the Chairman.

"I will meet Chairman Kim Min-jae personally and try to persuade him. If that still doesn't work, wouldn't the Chairman's direct involvement solve the problem?"

"So you're saying I have to handle this myself in the end."

"Not at all. I will try my best to resolve it on my own first."

"Chairman Kim does owe us a favor. This might not be an impossible plan after all."

Today's executive meeting actually reached a solution.

Since even Chairman Jin Ho-gyun agreed, all that was left was to put the plan into action.

The executives brightened with hope that the meeting might end earlier than expected.

But then, someone stepped forward to oppose Chairman Jin Ho-gyun and Vice Chairman Jin Dong-o.

No one else among the executives had the courage, so naturally, it was Vice Chairman Jin Dong-gu who spoke up.

"I oppose it."

"You're against getting Chairman Kim's help? If you have a better plan, present it."

"That's not what I mean. I'm against providing the THAAD site altogether."

"What are you talking about at this stage?"

Chairman Jin Ho-gyun's voice rose sharply.

He remained the absolute authority of Charlotte Group.

Although aging and physically weaker, his presence as the supreme leader never diminished.

The moment he raised his voice, the executives grew anxious like rabbits before a tiger.

But Vice Chairman Jin Dong-gu raised his own voice in defiance.

"What benefit do we gain by providing the THAAD site?"

"Do you really not know the benefits? We get to build the new headquarters on prime land in Seoul and receive U.S. support. What could possibly be more important right now?"

"Chairman, Vice Chairman Jin Dong-gu has been in Japan for a long time and seems unfamiliar with the situation in Korea."

Quick to join the fray was Vice Chairman Jin Dong-o.

Though he was the eldest son, his position was precarious after the China failure, and it was not surprising if he was soon displaced by the younger son.

He attacked Vice Chairman Jin Dong-gu fiercely to tarnish his image even a little.

"Are you prepared to completely give up on the China market? The China business is barely holding on despite the Japanese boycott. If Charlotte Group provides the THAAD site, we will cross a point of no return."

"The China business is already suffering its worst. How much worse could it get by providing the THAAD site? And if we receive U.S. support, won't the China business improve from its current state?"

It was an optimistic statement.

Vice Chairman Jin Dong-o was pinning his hopes on a possibility slimmer than winning the lottery.

With Chairman Jin Ho-gyun sharing the same view, the executives could not bear to oppose it openly.

Therefore, the executives inwardly cheered for Vice Chairman Jin Dong-gu.

"That possibility converges to zero. I don't understand why you think this is the worst-case scenario. The moment we provide the THAAD site, we'll realize there's a hell beneath the basement. It means we'll have to withdraw all business divisions operating in China!"

"You're casting a terrible curse. So are you saying we should give up providing the THAAD site? For the sake of Charlotte Group's new headquarters, we absolutely must do it."

The voices of the Jin brothers were growing louder and more heated.

Only Chairman Jin Ho-gyun could control them.

He stepped forward to support his eldest son, Jin Dong-o.

"Vice Chairman Jin Dong-gu, step aside from this matter. Just focus on your work with the Japanese Charlotte Group as usual."

"Chairman! No matter how important the new headquarters is, this is unacceptable. I urge you to reconsider for the sake of Charlotte Group's future."

"Aha! With all Charlotte Group's employees united as one, why cause trouble now? Vice Chairman Jin Dong-o has been entrusted with this matter, so trust and leave it to him."

Chairman Jin Ho-gyun abruptly stood up.

Jin Dong-o quickly stood by his side to support him.

Vice Chairman Jin Dong-gu and the other executives watched silently as they departed the meeting room.

Once the Jin family disappeared from the room, voices of encouragement poured out toward Vice Chairman Jin Dong-gu, who remained bowed in silence.

"Vice Chairman, I also oppose providing the THAAD site. It's just that Chairman's will is so strong that I couldn't say anything."

"Same here. This matter has far more risks than benefits. Even a new employee can calculate the pros and cons, so I don't understand why the Chairman can't see it."

One executive courageously spoke up for Vice Chairman Jin Dong-gu.

Then others who had only supported him silently found their courage to voice their opinions as well.

Of course, this courage only emerged in the absence of Chairman Jin Ho-gyun, and such voices could never become public while he was present.

"I will do my best to stop this, but it won't be easy. So we need to devise a plan to minimize the damage."

"I'll gather ideas from all subsidiary employees."

"I'll personally go to China to monitor the situation."

"We'll explore new markets in preparation for complete withdrawal from the Chinese market."

These were executives speaking only when Chairman Jin Ho-gyun was not around.

Such voices might not be needed right now.

But Chairman Jin Ho-gyun could not protect Charlotte Group forever.

If an unavoidable situation arose where Chairman Jin Ho-gyun had to step down,

today's events would ensure all executives would support Vice Chairman Jin Dong-gu.

The support of the executive team was Vice Chairman Jin Dong-gu's goal.

In the succession battle, the backing of executives held significant weight.

Of course, he couldn't sway the faction aligned with Vice Chairman Jin Dong-o, but just winning over the neutral faction was a huge advantage.

"So, things are unfolding just as Chairman Kim Min-jae anticipated."

So, just by doing this, I could become chairman?

Vice Chairman Jin Dong-gu covered his mouth and smiled at the executives' encouragement.

This plan wasn't something he'd come up with himself.

It was a strategy devised with the help of Chairman Kim Min-jae, and according to him,

it was a strategy that could very well make Jin Dong-gu the next chairman.

***

The Financial Hub Tower was in full swing.

Of course, the teams carrying out the quantitative easing reduction maneuver—such as Quantum Fund and Tae-woo Securities—were busier than ever.

They were so preoccupied with scooping up profits, they hardly had time to think.

Yet it was the other financial firms moving even more frantically.

They scrambled desperately, trying to glean even a little more information, constantly hovering in hopes of getting a spot in the operation.

"It's driving me crazy. More than thirty people come find me every day just to have coffee. I'm honestly worried I'll end up in the ER with caffeine poisoning and make the news."

"In that case, let's open up the quantitative easing operation to everyone."

"Wouldn't the firms already involved object?"

"Even if they join now, they'll barely see half the return of the original participants. So, I doubt there'll be much pushback."

The quantitative easing operation was only in its first stage.

The U.S. Federal Reserve had announced the possibility of ending quantitative easing—

but the time to reverse those words was close at hand.

What would happen if, just as everyone had settled into the belief of tightening policies, the Fed suddenly reversed course and canceled the reduction?

Naturally, the stock market would swing wildly again.

And we were already prepared for that scenario.

Even if we shared this information with the other financial firms now, there was no way they could prepare themselves in time.