Having finished submitting their bid, Gyeong-deuk Lee and the Strategic Planning staff waited for the results with anxious hearts.
Just then, Homyeong Construction’s Director Byeong-mu Choi and President Cheol-jin Choi came over to where Gyeong-deuk Lee and the others were.
“Director Lee. It’s been a while.”
Seeing Byeong-mu Choi greeting him, Gyeong-deuk Lee nodded.
“Yes. It’s been a while, Director Choi.”
Byeong-mu Choi looked around at Gyeong-deuk Lee and the Ilhyeon Group Strategic Planning staff visible behind him, and curled up the corners of his mouth.
“What have you all come crowding in here for? Daeguk Fertilizer’s going to fall to the Homyeong Group anyway.”
“Ahem. Long or short, you have to measure to know.”
Gyeong-deuk Lee looked at Byeong-mu Choi with an uncomfortable gaze, then greeted President Cheol-jin Choi, standing behind him.
“It’s been a while, President Choi.”
“It has, Director Lee.”
Having exchanged brief greetings, the two of them made formal conversation about the bid.
Byeong-mu Choi shot the two of them a glance, then studied the Ilhyeon Group staff standing behind Gyeong-deuk Lee.
Looking this way and that as if searching for someone, Byeong-mu Choi spotted Seong-ho Kim and broke into a bright smile.
“So Assistant Manager Kim came too, of course.”
Byeong-mu Choi walked over to where the Strategic Planning staff were and called out to Seong-ho Kim as if summoning a subordinate at his own company.
And, wearing a mocking expression, he said,
“We’re going to win Daeguk Fertilizer and put it to good use, so tell the chairman on my behalf not to worry too much. All right?”
“Will it really turn out that way, I wonder?”
Full of confidence, Byeong-mu Choi snorted a laugh at Seong-ho Kim’s question.
“Ilhyeon can never beat us.”
Byeong-mu Choi said it loudly, as if for everyone gathered in the bidding hall to hear.
“I don’t know how much you lot wrote in, but there’s no way you wrote in a higher price than us. There’s no one who wrote in a higher price than we did, so just watch.”
At Director Byeong-mu Choi’s voice, brimming with certainty of victory, the gazes of those gathered converged on him.
“Awfully overconfident, for someone who doesn’t even know how much the other side wrote in.”
Just then, Seong-ho Kim muttered, quietly enough that only the Byeong-mu Choi in front of him could hear.
Hearing it, Byeong-mu Choi wondered if he’d misheard, furrowed his brow, and asked back,
“What did you say?”
“I’m saying it’s embarrassing to be standing in the same place as an amateur who guarantees victory in a competitive bid without even knowing how much the other side wrote in.”
At Seong-ho Kim’s words — spoken loudly enough for everyone to hear — Cheol-jin Choi and Gyeong-deuk Lee, who’d been talking separately, stopped their conversation and looked toward Seong-ho Kim.
His face reddening at Seong-ho Kim’s words, Byeong-mu Choi spoke in an even louder voice,
“So you’re telling me you know how much we wrote in? When you don’t even—”
“Of course I know.”
“You know…?”
At Seong-ho Kim’s words, spoken so boldly, Byeong-mu Choi was momentarily struck dumb.
“In a competitive bid, your own side’s price matters, but so does estimating the other side’s price. Company money doesn’t come out of digging in the dirt, does it? To put it bluntly, if winning the bid were the only goal, you’d just write in a high price.”
At his words, Byeong-mu Choi hastily shook his head and asked,
“S-so you’re saying you know, you know our price?”
Seong-ho Kim drew up the corners of his mouth and answered,
“We wrote in a bid price exactly 1,000 won higher than Homyeong Construction’s, so check the results later.”
“What? You wrote in 1,000 won higher? 1,000 won?”
Seong-ho Kim smiled at Byeong-mu Choi, who wore a disbelieving expression, and said,
“The best thing in a bid is winning it at a price just a hair above the other side’s. In that sense, we wrote in a price exactly one hair above Homyeong Construction’s bid amount.”
“Nonsense! You wrote in a price one hair higher without knowing how much we wrote in? How would you know our price…”
As he spoke, Byeong-mu Choi turned to look at the Homyeong Construction staff standing behind him.
For Homyeong Construction, too, this bid was important.
So, to prevent the bid price from leaking, only a minimal number of people had shared it.
Which was why Byeong-mu Choi didn’t think the bid price had leaked.
But at the sight of Seong-ho Kim speaking so confidently, he couldn’t help the suspicion that hadn’t been there before now arising.
And onto that suspicion, Seong-ho Kim poured oil.
“You’ll find out shortly. Whether we know Homyeong Construction’s bid price or not.”
Seong-ho Kim said it low, in a voice only Byeong-mu Choi could hear, and stepped back.
Having planted a small seed of doubt in his chest, he’d withdrawn.
The moment he heard Seong-ho Kim’s words, Byeong-mu Choi looked at the Homyeong Group staff with a sharp gaze.
The seed called suspicion, the instant it was planted in Byeong-mu Choi’s chest, sprouted.
“Would all parties who participated in the bid please take your seats. We’ll announce the bid results shortly.”
At the Korea Development Bank official’s announcement, the gathered people slowly returned to their seats.
President Cheol-jin Choi led away the Byeong-mu Choi who was still scrutinizing the Homyeong staff one by one, and headed for the Homyeong Construction seats.
Seong-ho Kim, too, sat down at the Ilhyeon Group seats with Byeong-ju Jeong.
Once seated, Byeong-ju Jeong asked Seong-ho Kim in a low voice,
“Is it all right to provoke him like that? It’s not as though we actually know Homyeong’s bid price.”
“Sorry? What do you mean, we don’t know Homyeong’s bid price?”
At Seong-ho Kim’s counter-question — why wouldn’t they know the bid price Homyeong Construction had written in — Byeong-ju Jeong’s eyes went wide.
“You know it?”
“I do. Isn’t that why we wrote in 1,000 won on top of that price?”
“That…”
Byeong-ju Jeong started to speak, then glanced around for a moment, confirmed no one was listening, and said in a low voice,
“You mean 200 billion?”
“Yes. That’s Homyeong Construction’s bid price.”
“That was… wasn’t that an estimate?”
“No. I’m certain Homyeong Construction wrote in 200 billion. That’s why I said to write in 1,000 won more.”
At his words, Byeong-ju Jeong couldn’t say a thing.
Seong-ho Kim smiled at him and said,
“The bid results will be announced soon, so let’s watch.”
At his words, Byeong-ju Jeong turned his head toward the Korea Development Bank officials entering the auditorium.
They were coming in to announce the bid results, having confirmed the winning prices each company had submitted.
The representative among the Korea Development Bank officials stepped up to the podium, brought his mouth to the microphone, and announced the bid results.
“We will now announce the results of the bid for the seven million shares of Daeguk Fertilizer held by the Korea Development Bank. A total of three companies participated in the bid. All three bid at very similar prices, and unbelievably, the price difference between first and second place was truly the difference of a single sheet of paper.”
At the words “difference of a single sheet of paper,” those present naturally turned their heads toward Seong-ho Kim.
Because the thought that what Seong-ho Kim had said a moment ago might be true flashed quickly through their minds.
“Now, we will announce it.”
At the Korea Development Bank official’s words, those present gathered their gazes on the podium again.
And they strained their ears toward the result coming through the microphone.
“The one to win the seven million shares of Daeguk Fertilizer is… the Ilhyeon Group.”
Gyeong-deuk Lee clenched his fist at the thought that they’d done it, and Team Leader Ki-seok Yun raised his hand.
The Ilhyeon Group Strategic Planning staff let out cheers of joy, and with the Ilhyeon Group staff behind him, the announcement continued.
“The Ilhyeon Group bid a total of 200 billion won and 1,000 won, edging out Homyeong Construction — which proposed a total of 200 billion won — by a very narrow margin to win Daeguk Fertilizer. Third-place Dugyeong Group also wrote in a very close price of 195 billion won, showing just how fierce this bid was.”
At the fact that it was a 1,000-won difference, the people who’d participated in the bid wore disbelieving expressions.
Because it was hard to believe that a bid for a company valued in the hundreds of billions had been decided by a 1,000-won difference.
“It’s a lie!”
Homyeong Construction’s Director Byeong-mu Choi shot up from his seat, as if unable to believe it, and shouted.
“200 billion won and 1,000 won? We lost by 1,000 won? Don’t lie!”
The Korea Development Bank official, looking at the standing Byeong-mu Choi, spoke into the microphone.
“The entire bid was conducted fairly, and all procedures are on record. If you feel the bid was improper, you may formally raise an objection with the court — but does the Homyeong Group believe this bid was improper?”
“N-no, we don’t.”
President Cheol-jin Choi hastily shouted that they didn’t.
And, seating the Byeong-mu Choi who stood there with a wronged face, he shook his head toward the podium.
“The Homyeong Group has no complaints about this bid. We will accept the bid result.”
“Uncle!”
Byeong-mu Choi tried to say that he couldn’t accept it.
Just then, Homyeong Construction President Cheol-jin Choi thundered at Byeong-mu Choi.
“Get a grip. If we don’t accept it here, greater harm will come to us. This bid was one that not only the Korea Development Bank but even the government took interest in. Claiming it was improper amounts to saying we’ll stake the Homyeong Group on a fight with the government.”
“But Uncle. It’s 1,000 won. Not 100 billion — 1,000 won. This… how does a result like this even happen? No matter how you slice it, 1,000 won… doesn’t it make no sense?”
“It makes no sense. There’s no way to think about this except that they knew our bid price.”
Cheol-jin Choi turned to look at the Homyeong Construction staff.
The seed Seong-ho Kim had thrown, having sprouted in Byeong-mu Choi’s chest, had now spread all the way to Cheol-jin Choi.
When it seemed no further complaints would pour out from the Homyeong side, the Korea Development Bank official asked the Dugyeong Group side,
“Does Dugyeong also accept this result?”
The Dugyeong Group representative nodded.
“With second place accepting it, there’s no reason for us in third to refuse. Our Dugyeong Group will accept this result cleanly.”
“Very good. Then with this, we’ll conclude the Daeguk Fertilizer bid. The divestiture procedures begin next week, so the Ilhyeon Group is asked to prepare its acquisition procedures accordingly.”
The Korea Development Bank official wrapped up the bid and told Ilhyeon and the others to head back safely.
And, leaving word that they’d meet again on another good occasion, he left the auditorium.
“We did it!”
Cheers burst out once more from the Ilhyeon Group side.
“Hurry and contact the secretariat to let them know this happy news.”
Having shouted with joy alongside the Strategic Planning team members, Gyeong-deuk Lee came to his senses and instructed them to contact the secretariat and quickly inform Chairman Tak-hyeon Lee of the news.
But Director Gyeong-deuk Lee was just as delighted.
“We did it. We did it, Assistant Manager Kim. We did it.”
Say what anyone might, the number-one contributor to this bid could be called Seong-ho Kim.
Because thanks to his having learned Homyeong’s bid price precisely, they’d been able to take the bid by an absurd margin.
While the Ilhyeon Group savored its joy at the thrilling 1,000-won victory, the Homyeong Group side had the mood of a funeral home.
The Homyeong Group had produced its own internal analysis that 200 billion would be more than enough to win.
And yet, not content with having lost, at having lost by the absurd price gap of 1,000 won, suspicion welled up within the Homyeong Group as to whether there wasn’t an employee who’d leaked the bid price, and the mood soured.
“Congratulations. We’ll meet again next time.”
The Dugyeong Group, which had cleanly accepted defeat, extended congratulations to Gyeong-deuk Lee and left.
President Cheol-jin Choi, wearing a face like death, also extended congratulations to Gyeong-deuk Lee and left the auditorium.
Byeong-mu Choi glared at Seong-ho Kim before leaving the auditorium.
Seong-ho Kim waved a hand at him.
Grind—
Byeong-mu Choi bit down hard on his teeth and stared, then left the auditorium just like that.
At the sight of him, Seong-ho Kim only smiled softly.
He could feel, without needing to see, just how badly it must be gnawing at him.
Even as he savored the joy of victory, Seong-ho Kim, unlike the other staff, didn’t let go of the thread of tension.
‘Now I should prepare for my father-in-law’s and my brothers-in-law’s reactions.’
Seong-ho Kim knew that this matter might not be a joy for everyone.
Even with a smiling face, Seong-ho Kim maintained the composure to keep preparing for what came next.
(End of Chapter 19)