Chapter 103: I Want the Power to Concentrate

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Hands on the wheel, Seong-ho glanced at Gyeong-eun, still turning the Seocho land over in her mind, and said, “And there’s the land Ilhyeon Fashion bought right next to it too, isn’t there?”

At his words, Gyeong-eun nodded slowly. “You mean the land my sister bought to build her fashion district?”

“Yes. Add that in, and it comes to about 70,000 pyeong. I told Sang-jong about a project to build the headquarters of Ilhyeon Electronics and the other major affiliates there.”

“You told him to bring that project to Dad?”

“Yes. I told him that if he offered to lead it himself, he could find his way back to Ilhyeon Construction.”

Gyeong-eun looked at Seong-ho with admiration. “That really is a good idea.”

Turning it over again, she found it even more impressive, and gave him a thumbs-up. “You really are something, Seong-ho. How did you even come up with an idea like this?”

At her praise, Seong-ho only smiled faintly.

The truth was, the idea of building an Ilhyeon Town hadn’t fallen out of the sky. It was a project Ilhyeon Group had already spent years bringing to completion in that former life — that was why he’d brought it up. And since he himself had taken part in the project back then, he knew all too well how difficult it had been to see through.

Back then, Homyeong Construction refused to let go of the land, so we ended up buying it at a price far above market value.

Homyeong Construction had played games with the land price, nearly derailing the whole project. It was only once Homyeong Construction fell into difficulty and had no choice but to give up the land that the stalled project could finally move forward.

Recalling that, Seong-ho had told Homyeong Construction he’d lend them money if they put up the Seocho land as collateral.

This time, the project can move forward much faster than it did before.

Back then, because of Homyeong Construction, it had taken roughly eight more years before the land could even be purchased. But now was the right moment to acquire Homyeong’s land along with the surrounding parcels, so the project could be pulled forward considerably.

Seong-ho pictured the new Ilhyeon Town, built grander and more magnificent, and far earlier than it had been in that former life.

Back then it was never mine. This time, it will be.

Thinking of holding Ilhyeon Town in his own hands once his revenge was complete, a smile came naturally to Seong-ho’s face.

But unlike Seong-ho, whose smile only deepened, something like unease crept across Gyeong-eun’s admiring expression.

“But, Seong-ho.”

Lowering the thumb she’d raised, she asked him in a puzzled voice, “Homyeong Construction’s land was only taken as collateral, wasn’t it? Once they repay the loan, we’d have to give it back — so how can we build a whole town on it?”

“That’s…”

While Seong-ho was explaining this to Gyeong-eun, back in Pyeongchang-dong, Sang-jong was telling Tak-hyeon the very same story.


Having heard Sang-jong out, Tak-hyeon sat with his legs crossed, wearing a deep frown. Sang-jong studied his expression and swallowed dryly.

“Father — no, Chairman. I’m confident. No — I have confidence in this.”

Tangled up from nerves, Sang-jong loosened his tongue and spoke to Tak-hyeon in an earnest voice.

“Trust me with this. I’ll lead Ilhyeon Construction well and make this the cornerstone of our group’s next hundred years.”

Legs still crossed, tapping his knee with a finger, Tak-hyeon looked at Sang-jong and let out a snort. “Why make such a fuss over it? A hundred-year cornerstone, is it? It’s just a few buildings — no need for all this drama.”

Tak-hyeon looked at Sang-jong with contempt, as though he were blowing something trivial wildly out of proportion. But it wasn’t entirely trivial, either.

“Still, it’s a tempting idea, I’ll admit. Having the major affiliates’ headquarters gathered in one place would certainly be convenient.”

“Exactly.”

As Tak-hyeon’s interest seemed to stir, Sang-jong, as though he’d been waiting for this, laid out the advantages of consolidating the headquarters.

“The whole group would be able to move as one, without a hitch. Not to mention how much operational efficiency would rise. And the added value created simply by having everyone together would be beyond what money could measure. Building a town to gather the affiliates is unconditionally the right move.”

“Right. There’d be no end to the benefits. But…”

Still seated with his legs crossed, Tak-hyeon looked steadily at Sang-jong and asked, “That land isn’t ours. It’s something we’ve only taken as collateral. So how do you mean to develop it?”

“That’s exactly the crux of it.”

As if he’d been waiting for this very question, Sang-jong leaned toward Tak-hyeon and answered.

“Homyeong Construction put up the Seocho land as collateral and borrowed 30 billion won from us, interest-free, on the condition they’d repay it within a year.”

“Skip what I already know and get to the point. What’s the method?”

“It’s simple.”

Sang-jong wore a meaningful smile and said, “All we need is for Homyeong Construction to go under.”

“For Homyeong Construction to… go under?”

“Yes.”

Sang-jong’s smile only deepened.

“There’s no need to wait for them to fail to repay in a year. If they go under right now, the Seocho land becomes ours immediately.”

Hearing Sang-jong’s answer, Tak-hyeon fell silent, gazing at him.

What Ilhyeon Group had expected in lending the money was that a year from now, Homyeong Construction would fail to repay and forfeit the collateral. So Tak-hyeon had assumed Sang-jong would say something like: just wait a year, and Homyeong Construction will surely fail to repay and give up the Seocho land. But instead, unexpectedly, Sang-jong was saying there was no need to wait a year at all — Homyeong Construction simply needed to collapse right now.

Tak-hyeon looked at Sang-jong a moment, quietly, struck by how unlike him this was. Under his gaze, Sang-jong went on.

“Right now, beyond Jaei Bank, Homyeong Construction also carries debt of over 300 billion won at Bujeon Bank, and 200 billion more borrowed from Dongseong Bank. Both banks are apparently considering whether to extend Homyeong’s debt. If we block that…”

“Homyeong Construction goes under, regardless of Jaei Bank.”

“Exactly.”

Sang-jong slapped his knee and spoke to Tak-hyeon in an earnest voice.

“Then there’d be no need to wait a year at all. We’d have the Seocho land in hand at once, and could start development as early as tomorrow.”

“Not bad.”

At those words, Sang-jong’s face flushed. It had been a long while since Tak-hyeon — who usually only scolded or dismissed him — had said anything close to praise. So Sang-jong had no intention of letting this chance slip.

“I’ll oversee the development myself. So trust me with it.”

“Trust you with it…”

Tak-hyeon seemed to weigh it a moment, then nodded.

“Fine.”

Uncrossing his legs, he said to Sang-jong, “As it happens, I’ve been wondering who to put in as president of Ilhyeon Construction. If you’re saying you’ll return, there’s no reason to refuse.”

“Thank you. I’ll truly… truly work hard and do my utmost not to fall short of your expectations, Father — Chairman.”

“Don’t cause any trouble this time.”

“Yes. I’ll do exactly, precisely as you tell me, Chairman. Please trust me.”

Sang-jong made the promise with a face full of joy.

Tak-hyeon told him he understood and instructed him to go. As Sang-jong left the study, he bowed to Tak-hyeon several more times, and on his way out, he even threw his arms around Chief Do-beom Hwang, coming in through the door, to express his joy.

Closing the door and stepping into the study, Do-beom said to Tak-hyeon with a smile, “Sang-jong seems very pleased.”

At his words, Tak-hyeon let out a light snort and asked Do-beom, “How are things at Bujeon Bank and Dongseong Bank?”

“Bujeon Bank and Dongseong Bank?”

Do-beom cocked his head a moment at Tak-hyeon asking about the banks’ condition right after Sang-jong’s departure, then answered. “Both are in a fairly serious state — their bad-debt levels have both crossed the critical threshold.”

“Good.”

Tak-hyeon relayed to Do-beom what he’d just discussed with Sang-jong. Hearing it, Do-beom’s face hardened, and he said, “I’ll go meet with the presidents of Bujeon Bank and Dongseong Bank myself.”

Tak-hyeon smiled faintly at Do-beom, who understood exactly what he wanted without needing to be told.

“Just a hint of it should be enough for them to get the message.”

Even so, he added a word of caution, and Do-beom, catching what Tak-hyeon was worried about, offered reassurance. “Yes. I’ll make sure it doesn’t come across as pressure at all.”

Reassured that Do-beom would handle it well, Tak-hyeon offered no further caution. With all their years together, he trusted Do-beom to manage it properly even without being told everything.

Once the instructions were settled, Tak-hyeon raised the biggest question on his mind at the moment.

“But say — how do you suppose that boy came up with this?”

“You mean seizing the Seocho land while clearing out Homyeong Construction?”

“Yes.”

Tak-hyeon looked at the door Sang-jong had left through with a doubtful expression. “Does that boy really have that kind of judgment?”

Do-beom shared the same doubt. What they’d just seen was utterly unlike Sang-jong’s usual manner. But raising his own doubts too would only lower Sang-jong’s standing further, so Do-beom did his best to frame it favorably for Tak-hyeon.

“Perhaps he’s picked up a great deal, living with you in Pyeongchang-dong?”

Tak-hyeon’s head slowly turned from the door back to Do-beom. Wearing an expression of disbelief, he asked, “That boy… changed from being around me? You expect me to believe that?”

Do-beom, looking sheepish, laughed awkwardly and answered, “If not that, then I honestly can’t explain it…”

“Why can’t you explain it?”

Tak-hyeon looked at Do-beom as if he already knew the reason for Sang-jong’s change. “Our youngest came early today, didn’t she? Made japchae, I hear?”

Do-beom, recalling that morning’s events, nodded. “Yes, Gyeong-eun said she’d made japchae and arrived an hour early… ah!”

As he answered Tak-hyeon’s question, something occurred to Do-beom.

“Seong-ho must have told Sang-jong this method!”

“Right. There’s nothing else that explains Sang-jong’s behavior right now.”

At that, Do-beom, who’d been trying to frame Sang-jong favorably, had nothing left to say. Just as Tak-hyeon said, there was no other way to explain Sang-jong’s current behavior.

“Even without the japchae, he’d have found some plausible excuse to come early and tell Sang-jong this scheme.”

Do-beom nodded in agreement with Tak-hyeon’s words. “So that’s why he stepped forward so eagerly in support of the presidential promotion. I did find it strange — in a situation like this, Sang-jong would normally be the one throwing up objections, but instead he was so enthusiastically in favor.”

A deeper smile settled onto Tak-hyeon’s face.

“The two of them have struck a deal — pushing and pulling each other along. Seong-ho used Sang-jong to clear the obstacles to his own promotion, and in exchange, Sang-jong got the method for finding his way back to the presidency of Ilhyeon Construction.”

“Could it be that Seong-ho has aligned himself with Sang-jong, then? From what I’ve gathered recently, he seemed to be backing Mun-jong… and yet Mun-jong also supported Seong-ho’s promotion today, didn’t he?”

The more Do-beom talked it through, the deeper his doubts grew. But unlike him, Tak-hyeon’s expression only grew more delighted.

“It doesn’t look like Seong-ho has firmly aligned with Sang-jong. If he’d turned completely to Sang-jong’s side, there’s no way Mun-jong would have supported him.”

“Then…”

“He’s probably walking a tightrope between the two of them. Playing both sides, testing which one benefits him more.”

“Is it all right to leave this be?”

Do-beom asked Tak-hyeon with a worried expression. “If you’ve noticed it, Chairman, surely Mun-jong and Sang-jong will notice it in time too. And when that happens…”

“When that happens?”

Tak-hyeon narrowed his eyes at Do-beom. “What exactly happens then?”

“That’s…”

“You think the two of them might fight over it? Over Seong-ho?”

“Or perhaps both of them might come to resent Seong-ho instead…?”

“Yes. That would suit the situation better than the two of them fighting over him.”

Tak-hyeon’s narrowed eyes widened little by little. And a gleam of pleasure came into them as he smiled and said, “But wouldn’t that be interesting?”

“Chairman.”

“Two sons fighting over succession to the company, and one man both of them come to despise together. Doesn’t it strike you that the more complicated the board gets, the more entertaining it becomes?”

At Tak-hyeon’s words, Do-beom shut his eyes tight. It might well prove delightful to Tak-hyeon, but he couldn’t shake the feeling that what awaited Seong-ho might be something closer to hell.

“I’d like to see it happen soon, myself. So do exactly as they’ve asked. Announce, officially, that Sang-jong is returning to Ilhyeon Construction, that Seong-ho will be seated as president, and that the Restructuring Headquarters is being taken out of the secretariat to report to me directly.”

As if a delightful new idea had struck him mid-sentence, Tak-hyeon’s face — not just his eyes but his whole expression — filled with pleasure as he gave the instruction.

“And while you’re at it, add that I’m throwing my full weight behind the Restructuring Headquarters.”

“You’re throwing your full weight behind the Restructuring Headquarters, Chairman?”

“Yes. Announce that every decision on the group’s affiliates — life and death alike — and every decision on new business ventures will now go through the Restructuring Headquarters. Say that whatever the Restructuring Headquarters decides is my own word, and whatever the restructuring decides is my own decision.”

“If that happens, then Seong-ho’s words and actions as Head of the Restructuring Headquarters would…”

“Yes. They’d become my own will. What do you think? Wouldn’t that make things even more interesting? Hahaha.”

Simply saying it out loud seemed to delight Tak-hyeon, and he burst into laughter. But at the sound of his laughter, Do-beom’s heart only grew heavier — because Tak-hyeon’s decision was driving Seong-ho further into a corner.

Yet contrary to what Do-beom thought, having power concentrate in the Restructuring Headquarters was precisely what Seong-ho wanted.

(End of Chapter 103)

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