Breaking Up Is Better Than Divorce

short selling

In late April, Media Focus reported on the exploration of Daeyang Electronics and DL Capital.

“We covered the relationship between Daeyang Group and DL Capital in great detail.”

“Yes. He was a pretty good journalist.”

The article contained more than the data Eugene received from the detective office.

“Richard Han’s Korean name is Jae-duk Han, and he was the younger brother of a man named Jae-ho Han, who served as the safe keeper of the Daeyang Group chairman. And in the Daeyang Group, I worked in the president’s secretary’s office.”

It must have been easier for a Korean reporter to obtain local information than a detective agency in the United States.

“The man’s son works as a manager at the Daeyang Automobile Research Institute, and his daughter is married to the son of the president of a Daeyang Group affiliate and lives in Gangnam. It seems very unusual for me to graduate from a community college, which is the level of a junior college in the United States, and work at the Daeyang Automobile Research Institute, where only elites are gathered. But can I make you an idiot like this?”

“A man named Han Jae-ho died a few years ago, and it seems that his son also works for Daeyang.”

After reading the article, I couldn’t believe that DL Capital and Daeyang were not one body.

There have been several times when Daeyang Group’s subsidiaries and assets were acquired at relatively low prices, and on the contrary, there were times when Daeyang Group took over DL Capital’s business at a higher price than market price.

Of course, it is all circumstantial evidence, but the reporter was very cleverly accusing the family of the owner of the Daeyang as having made a huge profit through DL Capital.

“Are you on the portal?”

Usually, these incidents are acted upon quickly by each group’s media response team, at least from the portal.

In many cases, it is not possible to control it until it is uploaded to the website of a small media company. Because there were tens of thousands of registered internet newspapers in Korea.

However, controlling the three portal sites is enough to prevent it from spreading to the public.

The ocean will not be able to stand still.

* * *

“What is this!”

Unlike usual, Daeyang Group Chairman Ryu Jae-duk’s voice was mixed with indescribable anger.

The brothers, who quickly gathered at the president’s home at the order of their father, had to be exposed to the harsh anger.

Unlike usual, only Chairman Roh and his three sons gathered here to discuss the situation.

“Who are you, man! Exposed DL Capital!”

When the elderly were most angry, it was mainly related to slush funds.

In the early 2000s, when a hidden slush fund management company in London was exposed, a huge sum of money had to be dedicated to politics.

Since then, the London slush fund management company has been shut down and a number of new private equity funds have been created and run undercover.

“I have ordered DL Capital to check now. The only people who know about it in Korea are the person here, Chief Secretary Oh, and a few below them. I don’t think it came from there.”

As the second said, only a few key figures from the core of the Daeyang Group were involved in the slush fund.

“Find it quickly. Make sure you know where the horse leaked!”

Chairman Ryu Jae-duk’s anger did not subside.

“But do you have any countermeasures?”

the first asked

“Are there any countermeasures? The stage response is the best.”

The second said as if there was no way.

“Are you on stage?”

The second quickly added to the reaction of Chairman Ryu Jae-duk.

“There is no evidence anyway. At best, the fact that Han Jae-duk worked in the Daeyang secretary’s office as a young man would be difficult to weave.”

“That’s right. Is the prosecution going to bully private equity funds operating in the United States with nonsense? Or would you like to invite Han Jae-duk, who is now an American?”

First, I agreed.

“If public opinion continues to deteriorate, even the political circles can press us. If you step out of politics, the Freescale acquisition could be overturned.”

The third, Ryu Geun-soo, was the most worried.

“But why haven’t you come down from the portal yet?”

The first asked the second again.

It was a glimmer of delaying responsibility for this matter to the second.

“Now the PR team is negotiating. It will all go down soon.”

“Even so, I am concerned that it was written straight from the Jaemin Ilbo.”

Ryu Geun-soo said with a still worried tone.

The brothers gathered here were trying to use this situation as an opportunity to criticize each other.

“It looks like you made a decision in Dasan, what are you going to do? It looks like they’re trying to get watered out of the Freescale takeover.”

Ryu Geun-su pushes the second like the eldest son.

“If you want to fight, you have to fight.”

The person who opened his mouth this time was Chairman Ryu Jae-duk.

“No matter how much we grind each other’s teeth, there is something called the golden sword. If you come out like this, you can’t go back.”

The old man’s eyes were significantly lower than before.

And the sons could read far more bitter malice in the old man.

“First of all, tell the media. If anyone escalates this anomaly, don’t even think about receiving advertisements from the ocean again.”

It’s not just a warning. The existence of overseas slush funds was like the Achilles heel of the ocean.

* * *

“There seems to be a lot of money going in. Using this as an excuse, both parties are demanding election funds.”

Daeyang Heavy Industries President Ryu Geun-soo talked about the situation with his youngest son in his office.

“I didn’t need to support that much for local elections or by-elections.”

Sunggyu added to his father’s words.

“I think it will cost at least 10 billion. Even if it wasn’t, the president was angry, but it hurts even more because it looks like he’s going to have to spend even raw money.”

“You’re also a senior, but it’s not good if something like this happens over and over again.”

“That’s it. Father still needs to fix it.”

The words of concern for Chairman Ryu Jae-duk were sincere. I haven’t been able to get the president’s heart yet.

Most of the shares in Daeyang International, which plays a key role in the Daeyang Group’s circular shareholding structure, are still held by the old man.

If the old man dies suddenly, the stake in Daeyang International will be inherited by one of the three brothers according to the old man’s will.

The problem is that the possibility that someone else is the father of the third child, Sunggyu, is not very high.

He has to endure until Sunggyu’s father is selected as the heir by the old man.

“But it’s kind of weird. Jae-duk Han is not someone who can expose himself so easily.”

President Ryu Geun-soo changed the subject again.

“Iknow, right. I met him a few times when I was in the US, but I don’t understand why it’s so easily exposed.”

“It was 20 years ago that Jae-deok Han moved to the United States. And it has been over 10 years since I got my citizenship. I’ve never been exposed to it until now, so I’m guessing it’s at this point.”

“I think it’s quirky. After all, it was after I bought the Carlyle stake from him. However, there is no way that guy could notice the difference between Han Jae-deok and Dae-yang.”

“If that guy really reported the connection between DL Capital and Daeyang to Media Focus…”

The father looked at his second son, his sore finger.

“All of your balls that have benefited quite a bit from the Freescale Gun this time will be gone.”

It is that point that Sunggyu’s father is worried about. As soon as the son sets the ball, it becomes his own ball, so Sunggyu’s mistakes are replaced by his own.

Chairman Ryu has repeatedly stated that he values not only the abilities of his sons, but also the abilities of the third generation to pass on to the next generation in selecting his successor.

It was because he trusted only his son and gave the ocean to him, but if his grandson ate it up, it was all in vain.

So, even if his son’s ability is a little weak, if there is one who stands out greatly among his grandchildren, he said that he would use it carefully.

It was Sunggyu who asked about the stake in Carlyle this time, so it was very obvious that if it caused damage, it would not only cause damage to Sunggyu, but also to his father, President Ryu Geun-soo.

“I think I have to give him up once in a while. Now that I’m in Korea, it will be easier to deal with than in the US. Wouldn’t we be able to catch him somehow if he instigated the prosecution?”

Sunggyu was determined to step on Eugene this time.

“Actually, that is the problem. He’s got a problem with Abby’s company and an ongoing lawsuit.”

“A problem?”

“okay. This time, we added a team of attorneys. About ten people.”

“It’s like that because you have money.”

Sunggyu didn’t think much of it.

“The names on the senior board are the problem. All of them are high-ranking court and prosecutors who have recently retired. Two former Supreme Court justices, one chief of staff, one judge of the Constitutional Court, one deputy chief prosecutor, and two chief prosecutors. This is the first time I have ever seen such a luxurious lawyer.”

“It’s a waste of money. Huh, ten people in the hall for that kind of lawsuit? There will be more fees.”

“I have no way of knowing how much I spent, but it’s obvious why it came out like this. It’s to show that you can have an influence.”

“The network that our ocean has built up so far is not inferior to this level.”

“Sure. But if you have such big-name legal figures attached to your opponent, you can’t force things to happen. Since they also took money, they will do whatever it takes, and there is an unwritten rule among legal figures not to break the other person’s rice bowl outside the courtroom. They are very bad guys.”

“I have a headache.”

Sunggyu put on an embarrassed expression. I thought I had a big score for my grandfather with the Carlyle group thing, but if Eugene was involved, it left only a big mistake.

“It is fortunate that the share price did not fall.”

“okay. Even if it wasn’t, I didn’t enjoy it very much because the Freescale acquisition was revealed in advance, and it would have been bad if it fell this time.

“After I found out, he said he was short selling Daeyang Electronics this time.”

Actually, Sunggyu stopped by to report this.

His father told Sunggyu to take his hand off Eugene, but Sunggyu had no intention of doing so until he dropped him into the abyss.

“okay? when?”

“I walked right after the driver left.”

“Hmm… if I had known that the article would come out, I would have short-selled it in advance. But that doesn’t mean it’s really unrelated, and he’s a guy who can’t just let it go anyway.”

“yes. Don’t let the guy climb up the sky without knowing it. cheeky child.”

“Yeah… you can’t just leave it alone.”

President Ryu Geun-soo said while looking at the building that was directly across the window.

The thought that they were still looking down at them from the top lit up a fire.

* * *

“By the way, the DL Capital Gun is not as flamboyant as I thought it would be.”

Yoosung said sadly.

“Even the portal went down in less than a day, and there were only a few newspapers that reported it. Isn’t that too much? Rather, there are more articles criticizing it.”

“It was originally like that. Even if it’s a plain criticism of a large corporation, it’s impossible to rush into an article aiming at the core like that.”

Eugene said as if nothing was wrong.

“Still, how hard must the reporter have worked to write that article? And isn’t such an act a breach of trust to shareholders? But neither the prosecution nor the media know about it.”

“Of course. There’s no clear evidence. It’s a private equity fund based abroad. If there is no evidence, it is natural for the prosecution not to even start an investigation.”

“You think you knew it was going to be like this?”

“Isn’t it obvious? Even if he commits a crime and is convicted, he escapes the court safely, but how much damage can a large corporation be affected by suspicion alone.”

“I’m sorry. I even hired a detective.”

“I have no regrets. The battle against the ocean is only just beginning.”

The thing that Eugene really regrets is that he can’t tell his brother about the incident that will happen in a few days.

The reason for notifying Media Focus about the suspicion between Daeyang and DL Capital and the short sale of Daeyang Electronics’ stock was for the time when the incident occurred.

* * *

“It was a big deal. bomb! Terror! In Malaysia…….”

The person who could not speak properly in such a hurry was an elite among the elite who worked in the Daeyang Electronics Strategic Planning Office after graduating from a prestigious university competing for the top spot in the country.

“What the hell is that? Don’t rush, speak slowly.”

President Ryu Geun-il, CEO of Daeyang Electronics, just hurriedly opened his door and came in, fumbled and said to the employee who posted the report.

“mind. There was a terrorist attack at a local factory in Freescale, Malaysia.”

This time, he properly reported the incident.

“Freescale? So what happened? Report the situation and do it right!”

“It is said that 30 minutes ago, ISIS terrorists in Malaysia attacked the Freescale factory and detonated a bomb.”

“therefore? damage?”

“We expect significant damage to the packaging plant. The terrorists have not been suppressed yet, so the final damage cannot be estimated.”

“Local police… No, what are the military doing?”

“We are shutting down and monitoring the vicinity of the Freescale plant. Armored vehicles and special forces have been dispatched in case of emergencies.”

“TV! Turn on the TV! right now!”

Ryu Geun-il’s urgent cry echoed sharply.