The Youngest Son of Sunyang - Chapter 168 Gathering Momentum 1

“Executive Director, who do you think is the key figure in the Sunyang Group?”

“Well, it’s Secretary Lee, right? He’s like the right-hand man to the chairman.”

“So, how can someone become a key figure?”

“Isn’t it about trust?”

“Trust?”

“Yes, it’s the absolute trust of a powerful figure. Others should know about it too.”

“Key figure” is an attractive term.

It refers to a person who wields more power than others when they stand beside an absolute authority figure, someone who often wields power or even more power.

However, being a key figure is not just about trust.

“Executive Director, in my opinion, a key figure should be someone who can meet a powerful figure at any time, have casual conversations with them, and most of their actions and interactions should go through the powerful figure. If any of these elements are missing, then they cannot be considered a key figure. So, is Director Lee Hak-jae a key figure?”

Executive Director Jang Dohyung looked at me with a slightly disappointed expression and then let out a brief sigh.

“You’re strict. To the point of being… severe.”

“I didn’t mean it in that sense.”

“I see.”

“Everyone in the Sunyang Group considers Director Lee Hak-jae a key figure. Only my grandfather doesn’t think so. What’s important is not whether someone is a key figure or not.”

“I see. If everyone considers him a key figure…”

Only then did Jang Dohyung finally applaud.

“Today’s meeting will widen the scope of your influence, Executive Director Jang. Make full use of it.”

Jang Dohyung nodded and finally managed to speak.

“Why do you think this way? Are you receiving any special teachings from the chairman?”

“Well, you know, it’s said that if you keep your eyes wide open and your ears wide open, everyone can be your teacher. Haha.”

Making an unlikely statement, I received a faint smile from Executive Director Jang.

“All right, enough of the jokes. Let’s get started with the document review.”

“Oh, yes.”

Executive Director Jang unfolded the prepared project proposal.

It was a complex project proposal, like a semiconductor circuit design.

“We need to integrate the subsidiary company’s computer systems. With this system, you’ll be able to track daily financial status. We will prepare it so that you can easily grasp the cash flow of the subsidiary companies.”

“The problem is the surplus capital analysis. You need to know the exact operational period to invest money, do you understand?”

“Yes. By the way… you plan to use the capital for repurchasing company shares, correct?”

“That’s correct. You know that our equity structure is unstable, right? If the two vice-chairmen sweep up the shares of our subsidiary companies, the securities and cards will be confiscated in an instant. Of course, my grandfather won’t openly purchase the shares, but they are undoubtedly being accumulated behind the scenes.”

“We also plan to gradually organize the real estate owned by the subsidiary companies. It might seem wasteful considering that land values will rise in the future…”

“It’s okay. You can buy land again, but once the shares are in the hands of my grandfather, you’ll never get them back. Don’t regret it; turn it into shares.”

“Yes. But, Manager.”

“Yes, what is it?”

“About Sunyang Card. You mentioned at the last subsidiary company’s executive meeting that you saw some signs of risk… Is that true?”

“Yes. How do you know about it?”

“CEO Lee Min-seob returned to the company and became agitated.” Executive Director Jang avoids eye contact and says. He looks uncomfortable and fidgety.

“Did that young kid try to act all high and mighty in front of grandfather?”

“Well, something like that.” he answered, still feeling uneasy.

“What’s your opinion? You must know mine, so why not hear Executive Director Jang’s thoughts for once? What do you think? Is the card business okay as it is?”

“To be honest, I’ll tell you. Credit cards are fundamentally a form of gambling with money, aren’t they? It’s a game with interest rates higher than the market rates, but if you only pay attention to the recovery rate, it’s a negative attitude towards the business. You need to take into account that some of it is unrecoverable. As the bonds increase, the unrecoverable amount also grows, but in return, the interest and fees earned also increase. You shouldn’t ignore this balance.”

As expected.

The danger they had been fearing suddenly looms.

Even just looking at the IMF, you can tell. However, three years is enough time to forget. The credit card disaster that will hit like a tsunami has yet to be detected by anyone.

“Well, I should probably apologize for this.”

“Apologize?”

“No, never mind. Then, let’s do it like this. Focus on the share repurchases in securities. You don’t need to touch the credit cards. Instead, slowly transfer the other subsidiary company shares held by the credit card company to Sunyang Life.”

Jang Dohyung furrowed his brow and looked perplexed. “You haven’t changed your mind, have you?”

“I can be quite stubborn.”

“Then, you’ll have to change the credit card company’s policy.”

“No, leave it as it is.”

To make the credit card company go bankrupt, someone needs to provoke it, and can Lee Min-seob, the CEO, play that role? Or should they throw some bait? Jang Dohyung, the Executive Director, just watched me with a suspicious look in his eyes, not intervening.

“Let’s go with this plan.”

“Yes.”

When I sorted out my thoughts and came up with a viable plan, Jang Dohyung’s expression changed to one of deep concentration.

“Hint at this to the Executive Director. Jin Do-jun seems to be a bit hesitant about confronting people, so he prefers investments that can be made just by looking at a monitor.” Jang Dohyung waited for me to finish speaking. “But his views on the credit card company are different, and he seems to treat it like a nuisance. How should we approach this? Well… something like this…”

“From what I’ve observed of the Director’s actions, it seems plausible, whether it’s true or not.”

“Right? Building trust with the other party is important. If Lee Min-seob, the CEO, believes this information, how do you think he’ll react?”

“Well, if I were in the CEO’s shoes, I’d probably lose my temper.”

“Why’s that?”

“Right now, the credit card company’s performance is incredibly good. But if the owner treats it as a bothersome servant, he’s unlikely to feel happy.”