Chapter 142 : There's No Gain Without Loss
There's No Gain Without Loss
【America, Chairman Tae Gun-seung of Taeshin Group, who had been hospitalized in a △△ hospital in Arizona, has regained consciousness! However, since his precise health condition is uncertain, it is unclear how he will respond at the upcoming emergency Taeshin Group shareholders' meeting...】
【Taeshin Group Chairman Tae Gun-seung regains consciousness while hospitalized in Arizona! His exact health status has not yet been confirmed, and he has made no separate announcement regarding the emergency Taeshin Group shareholders' meeting...】
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National Intelligence Service, Third Deputy Director's Office.
Im Deok-chang was busily checking the incoming news articles.
"This time, Tae Seok-ho made a pretty decent decision."
There were only three days left until the emergency Taeshin Group shareholders' meeting.
On top of that, enough shares had been gathered that, even with Chairman Tae Gun-seung awake, it wouldn't change much.
"If things keep going like this, there won't be any problems."
It was a situation where he could relax a little.
Of course, there was still the issue with the agents who had failed their raid at Bellbyte Technology.
The current first deputy director, Choo Jae-min, was looking into the matter, and if their trail were to be discovered during the investigation, things could become very difficult to handle.
bzzz—bzzz—
His phone vibrated on the desk. The screen displayed the name "USAGI".
It was Reina Blackwood, who was with Tae Seok-ho.
[Hyottoko. There's a problem.]
At her very grave voice, Im Deok-chang's face twisted in a grimace.
"I thought things were going smoothly?"
[Norman McGrath from AMK Partners visited the hospital. I suspect he made contact with Chairman Tae Gun-seung.]
"What?! Why those two? Don't tell me..."
AMK Partners was the second largest shareholder of Taeshin Trading after Chairman Tae Gun-seung.
They held about 1.4 million shares, which was 8.21% of the total.
If you combined that with Tae Gun-seung's roughly 20% holding, it made 28%.
Of course, that still didn't reach the shares Tae Seok-ho had secured, but with a new ally for Tae Gun-seung, other shares might get on the move as well.
[Isn't it as you're expecting?]
"Are they meeting now?"
[I couldn't check directly because of security guards. And while it's possible Kang In-hyuk is involved given their relationship with AMK Partners, looking at the circumstances...]
"The odds favor Tae Gun-seung over Kang In-hyuk. But what were you doing until Norman McGrath got there? Weren't you surveilling the airport for emergencies?"
The two making contact was not supposed to happen.
That such an unimaginable event had occurred left Im Deok-chang bewildered.
[It looks like they avoided the airport.]
"They used the road? Could it be that our agents were discovered?"
[I don't think so... I'll report again once I have a better grasp of the situation.]
With a deep sigh, Im Deok-chang ended the call.
Immediately, he was filled with mixed thoughts.
If AMK Partners decided to side with Chairman Tae Gun-seung, the response from foreign companies holding shares would not be positive.
Yet Tae Gun-seung would surely know this. If so...?
"Tae Gun-seung, is he really trying to push all his shares to AMK Partners? No... Even if he's been driven to the edge, would he do something so reckless?"
That would be the absolute worst outcome for Tae Seok-ho and the Hongu Society.
Moreover, it would be tantamount to Tae Gun-seung abandoning Taeshin.
The odds were slim, but an uneasy feeling kept growing within him.
He called out to Choi Dong-hoon, who was waiting outside.
"Find out if any outsiders have visited Lumen Holdings or Orbis Investment recently. And also check whether any associates from those companies are scheduled to enter the country before the Taeshin Group shareholders' meeting."
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At the same time.
Flagstaff, Arizona, America—it was morning.
In the hospital, Tae Gun-seung sat up in his bed, facing Norman McGrath.
"So, Chairman, are you asking whether AMK Partners could secure Taeshin Group's management rights?"
This was Norman McGrath's question.
There were only three people in the hospital room. In-hyuk stood quietly off to the side.
"Yes, that's right. If possible, I will delegate my shares to AMK Partners. Of course, this doesn't come without conditions. Regardless of my sons, I would appreciate it if, together with employment succession, you could guarantee positions for my grandchildren."
At this, Norman McGrath exchanged a serious glance between Tae Gun-seung and In-hyuk before responding.
"It's not a bad offer for us, but there are still a lot of questions."
"Please, go ahead."
"I assume this is because of the upcoming emergency shareholders' meeting. If your sons are the problem, couldn't you put your grandchildren, who are already involved in management, at the forefront? As far as I know, several are participating."
He was referring to Tae Su-jin, Tae Yeo-jun, Tae Seung-hyun, and Tae Ju-ha.
Since he'd made the retention of their positions a condition, Norman McGrath found it difficult to understand the current situation.
"Do you really think any of those kids can stand against Executive Vice President Tae Seok-ho?"
"Frankly, I think it would be hard. But from the viewpoint of the board and majority shareholders, it might be easier to convince one of your grandchildren than the slippery Executive Vice President Tae Seok-ho."
Tae Gun-seung's brow twitched at this answer.
"That sounds like you're saying I should sacrifice one of my grandchildren to keep control."
Norman McGrath held up his hands.
"I can see how it might sound like that. What I mean is that, even by such methods, you could buy yourself some time. Admittedly, it would mean deceiving your partner companies, but with the urgency of the upcoming shareholders' meeting, you might need a breather."
In the end, his point remained the same.
Tae Gun-seung couldn't relax his stiff expression.
It wasn't out of anger. The truth was, he had thought along similar lines himself.
But perhaps he didn't want to degrade himself so far, so he hadn't spoken it aloud.
"I want to do as I decided."
Norman McGrath, upon hearing his determined answer, let out a shallow breath.
"In the end, this isn't something I can decide here. I need to relay the conditions."
"You mean you need to ask CEO Gordon Grimes. So when can I expect your response? There's not much time, you know."
It was three days by Korean time, but with the time difference, only two in America.
"I'll go ask right away."
With that, Norman McGrath left the room. In-hyuk watched him silently.
Soon, Tae Gun-seung's gaze drifted toward In-hyuk.
"Kang, what do you think—will this work out?"
"To be honest, I think it will be difficult."
"Is it because you're uncertain whether the other companies with shares will support AMK Partners?"
"That's one reason. Also, I think Executive Vice President Tae Seok-ho may have predicted this as well."
By now, word of Norman McGrath's hospital visit would have reached Kooou.
They would be running all sorts of calculations, likely including this situation.
'Originally, I was just going to sort things out internally at Taeshin Group and leave them as mere figureheads... In the end, it's come to this.'
Just then, the hospital room door opened again, and Norman McGrath came back in.
"I conveyed your message, and the answer is yes."
The decision had been made.
Of course, from Tae Gun-seung's standpoint, it wasn't unconditionally good.
In the end, it meant handing Taeshin Group's management to an overseas company.
"That's good news. Then let me ask again: Can AMK Partners actually secure management control?"
It was the original question.
Only a firm answer from Norman McGrath would formalize this transaction.
"The CEO said it's possible."
"Hoo... I see. Then I'll prepare the proxy over the shares at once. Director Song, can you come in for a moment?"
"......."
Calling in Song Tae-ho, Tae Gun-seung again spoke up while waiting.
"CEO Gordon Grimes graciously accepted my terms."
The existing owner family would inevitably become an obstacle once management shifted hands.
Even so, AMK Partners had accepted much more willingly than expected.
"Our CEO says there's no gain without some loss."
"True. I suppose my demands are a loss for AMK. It wasn't an easy decision for them."
"But it's still a big gain for us."
Soon, Song Tae-ho brought in the proxy over the shares paperwork.
Without the slightest hesitation, Tae Gun-seung took it and signed.
* * *
Thud—
A marble chess piece in the shape of a horse hit the wall and bounced across the floor.
The one who threw it was Tae Seok-ho.
"And you call that news?!"
His secretary and aide, Reina Blackwood, had just delivered news from America.
"It's an unfortunate situation, but nothing has changed much."
"And what if other leeches rally to AMK's side?"
He was concerned about the shares held by Lumen Holdings and Orbis Investment.
If those were combined too, the total would exceed 35%, making the 31% Tae Seok-ho himself had secured insufficient.
Of course, he had already aligned with other friendly majority shareholders, but you could never guarantee they wouldn't flip when push came to shove.
"It'll all be decided in two days. That's too little time for AMK Partners to reach an agreement with the other two."
"But what if they do manage to reach an agreement? If those guys unite around AMK Partners and take control—then what?!"
"......."
Reina did not answer immediately.
This made Tae Seok-ho feel even more stifled.
"The old man's gone crazy. And to do it with no one else but those guys. Selling my Taeshin's shares to a foreign company?!"
At this point, he no longer referred to him as father or chairman.
"Someone might hear you from outside. Please calm yourself."
"Calm down? And whose fault do you think this is?!"
Tae Seok-ho picked up another ornament and threw it at her this time—not at the wall, but aiming right at her.
Thwap—
But Reina caught it in front of her face, like fielding a baseball.
"Getting worked up won't change anything."
"Are you trying to lecture me now?"
"It's advice. Also, we're already keeping close surveillance on those two companies. If anything goes wrong, we'll try to stop it as best we can."
Fuming, Tae Seok-ho twitched the corner of his mouth at her explanation.
"Can you guarantee it?"
"Would things change if I made big promises? And this is a situation you brought on yourself, Executive Vice President. So you have to keep pushing ahead without stopping, no matter what."
Tae Seok-ho's face twisted in anger.
As she said, he had chosen not to deal with Tae Gun-seung and to force through an emergency shareholders' meeting. If he failed now, he would have nowhere left to stand.
"This really is a damned situation."
"I expect AMK Partners will use the media as much as possible in the remaining time. So please make sure the other major shareholders don't waver."
"...... I'll do that."
With this response, Tae Seok-ho sat down, exhaling a breath full of rage.