Chapter 688: Is Everything All Right at Home?

The most intense reaction regarding Jungwoo Construction's PM bid came from Chairman Song Chan-woo.

It was a natural response since Daehyeon Construction was competing for the top spot alongside Jungwoo Construction in the domestic construction ranking.

"President Kim Mu-hyeok, is it true? Jungwoo Construction has been selected as the PM for this large-scale project?"

"We haven't signed the contract yet. However, the internal negotiations are already settled. Daehyeon Construction wanted to be involved as well, but they're currently focused on North Korea, so we intentionally excluded them."

"Still, it's a bit disappointing. Having a PM record would have been a good experience for a comprehensive construction company…"

Realistically, Daehyeon Construction was already stretched beyond its capabilities.

Focusing on North Korean projects was, at this time, the right direction to take.

The silver lining was that most of these North Korean projects involved hiring North Korean laborers.

This allowed them to undertake multiple tasks simultaneously.

"Don't be too disappointed, Chairman Song. There will be better opportunities in the future."

There were still many collaborations left between the Daehyeon Group and the Jungwoo Group.

Saying that brightened Song Chan-woo's expression a bit.

"Well, there's a saying that excess is as bad as deficiency. I understand fully that Daehyeon must focus on North Korean projects right now."

While listening in on our conversation, Chairman Yeo Seung-jin, who was trying to grasp the situation, asked me,

"What you just said means you're offering a joint PM position to Geumsung Construction, correct?"

How greedy, I thought as I shook my head at Yeo Seung-jin.

"If we take on a joint PM role, it would only create confusion. I plan to entrust all construction in Korea to Geumsung Construction. Even that will amount to billions of Wons worth of projects. I'll know the specifics once the plans are out."

"So you were asking them to oversee the construction in Korea?"

Disappointment washed over Yeo Seung-jin's face. He openly displayed his greed and grumbled again.

"What a shame. Isn't there anything we can do, President Kim?"

"If we offset the losses from Geumsung Refinery by growing Geumsung Construction, we can separate the groups without major issues. Building an oil pipeline will take over several years. We're essentially securing a food source for years to come," I explained.

Still seeming regretful, he nodded as he clearly had no chance to interject further.

"Gas pipelines take even longer. Right now, oil companies' stocks are teetering, but they will eventually stabilize. That way, Geumsung Refinery, being a private firm, will also see its value recognized."

The refining business was not a market that Jungwoo Refinery could monopolize.

Just looking at Korea, the four major refining companies were already splitting the pie. If they went global, even combining the four wouldn't be enough to match a single Chevron.

While there may be a significant difference in operating profits and net income, the prices offered in the market wouldn't vary much.

As time passed, oil companies' stock prices would find their footing again. In fact, they might even rise higher.

With oil consumption increasing in China and South America, the value of refining companies would continue to grow.

"You might calculate everything, but I wouldn't hand Geumsung Refinery over to the Bue family. There may not be a way to change it now, but…"

"We must give them enough so we can part with the Bue family without significant disputes. It's just the way things are," I agreed.

That was a fair point.

The smooth progression of the group's separation was largely due to Chairman Yeo Seung-jin's approach.

"Has your anger subsided? I was quite worried. At your age, seeing you so worked up could actually lead to serious health issues. You must finalize the group separation soon."

"What do you mean, am I not livid? It's been years in the making this separation. I took such care to ensure everything went smoothly, but it almost derailed from an unexpected direction. If I had known in advance, I could have prepared some countermeasures."

Yeo Seung-jin complained as if he wanted me to hear every word. This old man has a lot of grievances.

"Issues like this need to be handled confidentially. So many countries and corporations have vested interests at stake. It's no wonder I didn't even mention it to Chairman Song Chan-woo."

"Hmm… I see. Since you've said so much, I'll try to forget my grievances," he replied.

Come to think of it, why would someone who passed the chairman position to his son still be so active?

I heard that Yeo Seung-jin lost Geumsung Semiconductors and stepped down as honorary chairman.

"But Chairman, weren't you retired? Where is your son, and why are you still involved?"

"That kid could hardly handle President Kim! If he's lucky to keep his clothes on, then that's a win."

"Geumsung Group has transitioned so well into a holding company that I can't do anything about it. You worry too much," he retorted.

Even with my mix of compliments, Yeo Seung-jin just shook his head in disapproval.

"My son still doesn't have the wits to deal with President Kim. I would have handed the group to my grandson if he was older… It's unfortunate that he's still so young. He just isn't ready to lead the group yet."

Yeo Seung-jin seemed to favor his still-studying grandson far more than his grown son.

"Your son might feel hurt if he hears that. Ah, I heard your grandson enrolled at Harvard this time."

"You knew? Yes, I've known for a long time that Sung-jin is destined for greatness. You have no idea how much Chairman Cheon bragged when President Kim got into Korea University. He should have seen my grandson enroll at Harvard!"

I chuckled at his voice laced with both pride and wistfulness.

Leaving behind the disappointed Yeo Seung-jin, I turned my gaze toward Chairman Choi Woo-sik.

"I noticed KS's stock has dropped quite a bit. Are you alright?"

"…I see it as an opportunity. We've initiated a stock buyback. If our stock price continues to fall while the dispute with Sovereign Fund remains unresolved, minority shareholders might side with the Sovereign Fund again."

"Those hunters sure are a nuisance. But as long as I'm the white knight, they won't be able to make any rash moves. So please, just understand and let it go this time," he replied.

Chairman Choi Woo-sik nodded, as if he found my remarks somewhat harsh.

"Hmm… understood."

"By the way, is everything all right at home?"

"Our home? What would be a problem?"

"Well, that's a relief. There's an old saying: 'When the family is harmonious, everything goes well.' If the family is peaceful, all things will fall into place."

"…"

"If there's a dispute among family members now, the management stake could become precarious. Even if I act as the white knight."

Chairman Choi Woo-sik's expression stiffened. He met my gaze with a mix of fear and uncertainty as he asked.

"Your words seem serious. Do you know something we don't?"

"Not at all. It's just a precautionary warning. Within one to two years, the Sovereign Fund will unload their shares for profit and eventually withdraw. So please take care during that time," I advised.

Though I stated it was a precaution, Chairman Choi's expression didn't relax.

He must have something to worry about. I maintained a cheerful smile and continued,

"If there are no disputes among family members, I will continue to support you, Chairman."

"I always appreciate it, President Kim Mu-hyeok."

Finishing my conversation with Chairman Choi Woo-sik, I surveyed everyone and suggested.

"If everyone is free, I would like to treat you to a meal. I've made a reservation at a nearby Chinese restaurant."

Significant matters are often discussed over a meal. The chairmen gathered here would know that well.

Seeing them nod in agreement, we all headed to the Chinese restaurant.

* * *

As Yeo Seung-jin mentioned, a multitude of Chevron's staff, led by Director Michael Weiss, arrived in Korea.

I issued orders for their movements to be closely monitored.

"They just met with Vice Chairman Bujin-soo."

"Any other movements?"

"No. They headed straight to Geumsung Refinery's headquarters after landing."

"Their accommodation is at the Goryeo Hotel, correct?"

"Yes. As you suggested, I already installed wiretapping equipment beforehand."

From the entry list, I confirmed that Chevron was taking this matter quite seriously.

Michael Weiss, leading the staff, was currently in charge of marketing in Asia, Africa, and the Middle East.

I let out a sigh while placing down Weiss's resume.

So they even sent someone who might one day become the chairman of Chevron. This could be challenging.

"We need to know who they're meeting and what the discussions involve."

"It will be hard to capture conversations held within Geumsung Refinery. I hear Vice Chairman Bujin-soo will have a private meeting."

"There's nothing we can do about that. But try to get as close as possible to gather intel."

Chevron was a company capable of manipulating U.S. politics.

After all, Condoleezza Rice, who is virtually designated to be the next Secretary of State, was a board member before going to the White House.

The international oil cartel, which included Chevron, could sway the global oil market.

Six supermajor oil companies formed an oil cartel.

At one time, they monopolized 70% of the free world's oil production, excluding communist countries, and controlled 99% of Middle Eastern oil production.

However, as they say, all good things must come to an end.

As the influence of Middle Eastern oil-producing countries grew and they established OPEC, the share of the international oil cartel began to decline.

Yet, even if their power has contracted, the cartel's influence remained solid.

If Chevron views this situation as serious, they could unite with the remaining supermajors to apply pressure.

Six hours after Michael Weiss arrived, a call came in for Chairman Yeo Seung-jin.

"Yes, Chairman Yeo. I wonder if tomorrow the sun will rise in the west. You're the first to call me, Chairman Yeo!"

"— What? That's some talk, President Kim!"

Yeo Seung-jin burst into laughter at my jest.

But just a moment later, he spoke with a serious tone.

— I just received a call from Vice Chairman Bujin-soo. Chevron wants to meet the person in charge of this project. What do you think? Are you going to meet them?

"Do they know me, or did Vice Chairman Bujin-soo mention my name?"

— They already know you, it seems.

How does Chevron know me? As I pondered the source of this information, I remembered Assistant Rice.

Maybe that person leaked my information.

"Understood. Let's meet right away. Where should I go?"

"— Then I'll give them Manager Ma's contact information. Tell them to reach out to him directly."

"Sounds good. I'll wait for their call."

After finishing my call with Yeo Seung-jin, it hadn't even been ten minutes when Manager Ma's phone rang.

An unknown number appeared on the screen. Manager Ma, who had confirmed the number for me, picked up the call.

"This is Pyeongchang-dong."

After answering in Korean, Manager Ma began speaking in English.

"Please hold on for a moment."

As he asked the other party for patience, he slightly covered the receiver and said to me.

"Boss, it's Michael Weiss."

I extended my hand, signaling for him to pass me the phone.

Manager Ma handed over the phone, and I brought it to my ear.

"This is Charlie. Director Michael Weiss."

"— Ha ha. Hello, Charlie. Do you know me?"

"Of course. How could I not? You're a major player at Chevron."

"— I'm flattered that you consider me such a big shot. I didn't think I'd receive compliments from the owner of Dream High."

Mentioning Dream High indicates he knows who I am.

This might actually work to our advantage. There's no need for us to beat around the bush anymore.

"Let's just meet and discuss things."

— Sounds good. I hope we can meet quietly. If you provide me your location, I'll head there directly.

"Are you coming alone?"

— Yes. The staff will handle another task at the hotel. I'll have one chauffeur with me.

"In that case, will you come to my house? There's no safer place here in Korea for meetings."

Michael chuckled loudly before falling silent for a moment. A bit later, he responded in a quiet voice.

"— I appreciate your confidence, Charlie. Can you send me the address?"

"Sure, I'll text it to you."

"— Then I'll depart right away."

I handed the disconnected phone back to Manager Ma and said.

"Manager Ma, please send the address to that number."

While Manager Ma was sending the text, I conveyed additional instructions.

One hour later, Michael Weiss arrived.

He entered the study, guided by Manager Ma.

I greeted him with a warm smile and extended my hand first.

"Welcome, Director Michael Weiss."

"Pleasure to meet you, Charlie."

Michael Weiss shook my hand, sharing a smile.