Chapter 986: Why Are You Here?
-The Daechon Inc., which began as Daechon Trading Company, is now looking to enter the media business as its next growth engine.
It plans to acquire as much equity as possible in terrestrial and cable broadcasters while investing around 200 billion won annually into content production, with the goal of becoming Korea's leading media conglomerate.
The new company would be called Daechon Media, and its initial partner had been chosen as Hoop Entertainment.
Through a roughly 10% share swap with Hoop Entertainment, Daechon Media intends to strengthen the quality and competitiveness of its content production...
According to broadcasting laws, large corporations could own up to 10% of a terrestrial broadcaster and up to 30% of a cable broadcasting station. Chairman Kim Ae-Ryeon was announcing that after establishing Daechon Media, she intended to purchase stakes in broadcasters right up to those legal limits. Since the government owned the shares of KBC and MBS, they couldn't be acquired. That meant SBC would be the only terrestrial network worth targeting.
However, if Daechon Media acquired 30% stakes in cable channels and general programming networks, whose influence had grown significantly in recent years, it would wield tremendous power throughout the broadcasting industry. And if shares of Daechon Media were exchanged with Hoop Entertainment, Hoop Entertainment would become an indirect shareholder of those broadcasters and gain influence over them.
Of course, ownership caps meant Hoop Entertainment could never become the one holding absolute power over the networks. Still, it could at least become a "super second-in-command" capable of standing up even to those at the top.
The gift Kim Ae-Ryeon was giving me was that position. And hidden inside that gift was another gift.
At present, CK Entertainment controlled a large number of cable channels. HK Entertainment had also recently begun cooperating with CK Entertainment and was quietly buying up shares. If Daechon Media started purchasing broadcasting stakes, it would inevitably end up in a shareholding war with both CK Entertainment and HK Entertainment.
In other words, she was practically declaring that she would fight alongside me against my enemies.
'This is a gift I simply can't refuse.'
I was still stunned by the sheer scale of her offer, one worth trillions of won, when everyone watching the TV in the meeting room suddenly began shouting.
"Wow, this is insane!"
"Daechon Inc. is making our Hoop Entertainment its official partner?"
"This is crazy. The stock price is going to skyrocket!"
Just then, cheers erupted not only from our meeting room but from the floors above and below us, as though someone had just scored the winning goal in a World Cup match.
"Waaaaah!"
Most of the employees owned company stock, and Kim Ae-Ryeon's announcement was already being reflected in the share price in real time.
"Mr. Jung! Hoop Entertainment just broke 170,000 won per share!" Do Ran-Hee roared like a lion.
Team Lead Park In-Ki immediately shouted as well, "If it's 170,000 won a share, our market cap is over one trillion won now!"
At 170,000 won per share, the company's market capitalization came to roughly 1.08 trillion won. Hoop Entertainment's valuation had finally crossed the one-trillion-won mark.
The excited Lee Yung-Jin turned to me. "Mr. Jung. Even if KBC and MBS are out of reach, does this mean the other broadcasters won't be able to push us around as much anymore?"
I nodded. "Most likely. We're going to become a super second-in-command."
Lee Yung-Jin trembled with excitement. "Seriously, what on earth did you promise Mrs. Chairman? Why is she backing Hoop Entertainment this hard?"
"Who knows?"
I hadn't heard anything from her since we parted ways yesterday, so honestly, I was just as bewildered.
At that moment, Kim Ae-Ryeon handed the microphone back to Honorary Chairman Kim Bu-Ho on the television.
-There is something Mr. Honorary Chairman would like to say regarding the succession structure. We'll take questions afterward.
Kim Bu-Ho took the microphone.
-Let me answer what you reporters are most curious about. First, I have no intention of spinning off any affiliates to former Vice Chairman Kim Ae-Ja, who is currently under arrest. Furthermore, Sung Joon-Sang, who recently caused trouble, and former Chairman Sung Hak-Soo will no longer have any place within Daechon.
Kim Bu-Ho was even openly declaring that he intended to expel the entire Sung family from the group in order to simplify the succession structure.
Just then, my phone vibrated.
[Chairman Kim Ae-Ryeon of Daechon Inc.: Chief Jung. Not a bad gift, right?]
I immediately sent a Kk Talk reply.
[Chief Jung Yoon-Ho: Isn't this a bit much?]
[Chairman Kim Ae-Ryeon of Daechon Inc.: Not at all. You made me chairman. The least I can do is this much. Anyway, I'll head over to Hoop Entertainment as soon as the press conference ends. We'll talk there.]
[Chief Jung Yoon-Ho: Yes, understood. Let's talk when you get here.]
This was one gift I simply couldn't refuse, so all I could do was tell her it was excessive.
'Thank you, Mrs. Chairman.'
Just as we finished exchanging messages, the meeting room door burst open and Chief Gu Seong-Cheol entered.
"Chief Jung. The Daechon Inc. press conference... Ah, you're already watching it. Then hurry upstairs. Mr. Kang's calling for you! He said he'll tell you what we talked about this morning!"
It seemed President Kang Gam-Chan had kept his mouth shut because he was worried I might refuse.
"Yes, Mr. Gu! Let's go."
After leaving the cleanup to the talent agents of Integrated Division 4, I headed straight for the president's office.
***
At Daechon Inc. Headquarters, the press conference had ended and all the reporters had gone home.
Kim Bu-Ho was heading toward the parking lot with Kim Ae-Ryeon. He had already contacted Kang Gam-Chan separately that morning, but he had hidden everything from Jung Yoon-Ho. Now he intended to meet him in person and make absolutely certain he couldn't refuse.
Just as Kim Ae-Ryeon was helping him into the car, he heard a commotion.
"Move! Who do you think you are, blocking me!"
From one side of the parking lot came the furious shouting of Sung Hak-Soo, who had been stopped by security guards.
Although Sung Hak-Soo had once been chairman of Daechon Inc., Kim Bu-Ho's direct orders had left him unable to freely enter company property anymore. Apparently, the moment the reporters left, he had forced his way inside.
Kim Ae-Ryeon looked at Kim Bu-Ho. "Should we throw him out?"
"No. Let's hear what he has to say first."
At Kim Bu-Ho's raised hand, the security guards stepped aside.
As soon as they opened a path, Sung Hak-Soo rushed forward until he was right in front of his in-laws. "Father! How could you do something like this without discussing it with me first?"
Staring at Sung Hak-Soo coldly, Kim Bu-Ho replied in a calm voice. "If I want to do as I please with my company, what concern is it of yours?"
"Why is Daechon only yours? Twenty years ago, Daechon was stuck at fiftieth place among the conglomerates. My wife and I are the ones who brought it to where it is today!"
Kim Bu-Ho almost laughed at his son-in-law's claim. Until five years ago, he had personally overseen every aspect of the business. In other words, it was Kim Bu-Ho who had built Daechon from the ground up into what it was today.
Five years ago was exactly when the company had risen to seventeenth place among Korea's conglomerates. And after Kim Ae-Ryeon became vice chairman, it had only moved up one more spot to sixteenth. The claim was so absurd that he became curious how far Sung Hak-Soo intended to take it.
"So?" asked Kim Bu-Ho.
Sung Hak-Soo shouted, "Ae-Ja and I deserve our share!"
Kim Bu-Ho finally lost his patience and shouted, "How could any of this possibly be your achievement? Ae-Ja was too busy drowning herself in some man, and you spent your time wandering around like a schemer among the business elite! While you two were doing that, Daechon's people shed blood and sweat to grow this company. And now you dare demand a share for yourselves?"
Kim Bu-Ho was shouting at the top of his lungs, furious beyond measure.
Sung Hak-Soo, however, didn't even blink. "Ah, but that's what salaried servants are supposed to do, isn't it? I'm different. As an executive, the decisions I made are what—"
Whack!
At that moment, Sung Hak-Soo suddenly grabbed his shoulder and collapsed to the ground. Kim Bu-Ho had struck his son-in-law with the cane he was holding.
"Ugh..."
As Sung Hak-Soo groaned in pain, Kim Bu-Ho's face turned bright red and he bellowed at the top of his voice. "Employees are servants, did you say? Then were you born a nobleman from the start? How dare you... How dare you call my precious employees servants! Do you have a death wish?!"
Sung Hak-Soo wasn't a member of a chaebol's so-called royal family either. He had started out as an ordinary employee—the same kind of person he now called a servant. After proving his abilities, he seduced Kim Ae-Ja, married her, and climbed all the way to the chairman's seat.
"It's because you carry such twisted thoughts that Joon-Sang turned out the way he did. Listen carefully, Sung Hak-Soo. I don't have a single penny to spare for you or your family. So don't ever show your face in front of me again!"
Clutching his shoulder, Sung Hak-Soo staggered to his feet, trembling with rage. "Father. Aren't you afraid you'll regret this?"
"Regret it? Why would I? I already have a strong successor standing right here!"
At that moment, Kim Ae-Ryeon backed up her father's words. "Mr. Sung Hak-Soo. Don't ever use Daechon's name again. Daechon has no place for someone who calls its employees servants."
Grinding his teeth, Sung Hak-Soo glared at Kim Ae-Ryeon. "Kim Ae-Ryeon. You think things will work out because you joined hands with Chief Jung instead of me? Huh?"
Kim Ae-Ryeon nodded. "I think they'll work out just fine."
"So you've chosen him."
"Yes."
"Damn it... Fine. We'll see about that."
After shooting one last glare at Kim Ae-Ryeon, Sung Hak-Soo spun around and stormed off.
Watching him leave, Kim Bu-Ho took a deep breath before speaking to his daughter. "Ae-Ryeon. Let's head to Hoop Entertainment right away. We need to give them a warning."
"Okay. But what do you think Sung Hak-Soo is planning?"
"Who knows? Whatever it is, it won't be simple. That man clawed his way to the chairman's seat through sheer obsession."
"That's true."
"Come on. Let's go."
Kim Ae-Ryeon and Kim Bu-Ho quickly got into the car and headed for Hoop Entertainment.
***
Only a few executives were present at the company—Kang Gam-Chan, Director Kang Ji-Yung, and Finance Director Jung Soo-Hyuk—but together with Gu Seong-Cheol, who was soon to be promoted to director, we began a modest round of negotiations.
Kim Bu-Ho proposed exchanging 10% of Hoop Entertainment's shares for 10% of Daechon Media on a one-to-one basis.
Kang Gam-Chan reacted in shock. "Mr. Chairman, if Daechon acquires SBC's terrestrial broadcasting shares and secures stakes in the remaining cable and general programming networks, Daechon Media's market value could reach five trillion won. Maybe even more."
KBC was state-owned, while MBS had a unique ownership structure that made investment impossible. However, the remaining terrestrial broadcaster, SBC, allowed ownership of up to 10%. In addition, general programming networks and cable broadcasters permitted ownership of up to 30%. If Daechon invested heavily enough to acquire those stakes, Daechon Media could easily be born as an affiliate worth at least five trillion won.
Yet Kim Bu-Ho responded as though it were nothing. "The current chairman and I have agreed to build the future together with Hoop Entertainment. With President Kang's abilities and Chief Jung's potential, Hoop Entertainment will only continue to grow."
Kim Bu-Ho repeatedly made it clear that he was firmly committed to a one-to-one share exchange.
In the end, Kang Gam-Chan let out a sigh. "Understood. Since you're insisting so strongly... we'll proceed with a one-to-one exchange. However, you'll need to meet the actual owner of Hoop Entertainment first."
"The actual owner?"
"Originally, Hoop Entertainment was founded with Chairman Choi of Myeong-dong holding the majority of the shares. The stakes we possess now were essentially distributed by him."
Kim Bu-Ho's expression stiffened. "Myeong-dong? Don't tell me... that Chairman Choi?"
"Yes. That Chairman Choi."
At that moment, Kim Bu-Ho laughed in disbelief. "Hahaha. If Chairman Choi is behind all this, shouldn't the exchange be half a share from us for one share from Hoop Entertainment instead of one-to-one?"
Kang Gam-Chan answered without hesitation, "We're partners, aren't we? One-to-one is perfect."
That answer was unmistakably Kang Gam-Chan's style.
"Hahaha. Thank you for saying that. Anyway... let's get going. It's time to see an old friend."
Chairman Choi Eun-Tae was seventy-six this year, the same age as Kim Bu-Ho. Judging by the way he spoke, the two men seemed to know each other well.
Just then, Kim Ae-Ryeon turned to me with a warning. "Oh, and Chief Jung. Be careful. Sung Hak-Soo is targeting you."
Sung Hak-Soo was Daechon Inc.'s former chairman, Kim Ae-Ja's husband, and the father of Sung Joon-Sang—the man I had gotten arrested. As someone known throughout the business world as a schemer, there was no telling what he might try.
Still, I answered calmly, "Daechon Inc. is backing me now, isn't it? What is there to worry about? I'll be fine."
If he had an intelligence network, I had Everyday. So I wasn't particularly concerned.
"I like that confidence. Anyway, once all the share transfers are finished, let's meet again. Daechon Media will be established within this month."
"Yes, ma'am!"
Just like that, Hoop Entertainment acquired a 10% stake in a company that would likely be worth at least five trillion won. The 10% of Hoop Entertainment shares being exchanged for Daechon Media stock would be contributed by the directors. My own contribution would be 2%.
However, Daechon Media was expected to be worth roughly five times Hoop Entertainment's market capitalization. Which meant that my 2% stake in Hoop Entertainment would be converted into Daechon Media shares worth approximately five times as much.
As of today, my 2% stake in Hoop Entertainment was worth around 21.6 billion won. After the exchange, that would become Daechon Media shares worth a staggering 108 billion won. And even after giving up that 2%, I would still own 13.5% of Hoop Entertainment.
At today's valuation, those shares were worth roughly 145.8 billion won. In other words, the combined value of both holdings would come to an unbelievable 253.8 billion won.
Ever since my regression, I had never worked for money. I had only worked for people. Yet somehow, my wealth kept growing even faster.
'Why does my money keep multiplying?'
I was still dumbfounded by the thought when Kim Ae-Ryeon asked, "Chief Jung, you're coming to Myeong-dong with us, right?"
Snapping back to reality, I shook my head. "Oh, I don't think I can. I need to get to a filming location."
"What are you filming?"
"Soccer."
"At a time like this?"
"Yes. At a time like this."
Stocks and money were great, but there was something more important to me—my actors' schedules. And today happened to be the first shoot for Lee Tae-Poong on People Who Can Kick a Ball.
"Then take care."
Leaving behind a room full of stunned expressions, I hurried back toward the meeting room.
***
In the indoor futsal arena attached to a resort on Yeongjong Island, staff members from the production company Mirinae were busy checking the filming equipment installed around the field.
KBC's PD Ban Sung-Gyu continuously shouted instructions at the outsourced production crew from Mirinae.
"We're testing all equipment in five minutes. Make sure everything's ready!"
"Yes, sir!"
"And everyone from Reverse Entertainment and Hoop Entertainment, make sure you stretch properly. Just follow the video I sent through Kk Talk yesterday."
Ban Sung-Gyu kept emphasizing that injuries were the biggest concern and had all participants stretching thoroughly.
The opening match would be Reverse Entertainment versus Hoop Entertainment, with twenty-minute halves. Actors and talent agents from both companies were eligible to play, but they had agreed to feature the actors as much as possible.
At that moment, Lee Tae-Poong was on his way to stretch when he stopped in front of me. "Hyung, I'm counting on your passes again today."
"Got it. Don't worry. Their goalkeeper is Soo-Chan. His reflexes are excellent, so he'll stop most shots up high. But he doesn't have much soccer experience, so keep your shots low."
"You're the best, hyung. Then hurry up and get ready!"
Lee Tae-Poong grinned as he ran off toward the stretching area, clearly excited about playing soccer. Seeing my actor this happy brought a smile to my face as well. I figured I should get changed too, and had just picked up my bag when I heard a voice calling for me.
"Mr. Jung!" Lee Dae-Ho came running over.
As Lee Tae-Poong's cousin and talent agent, Lee Dae-Ho wasn't playing in today's match. Instead, he was responsible for managing Tae-Poong's fan club, Eye of the Typhoon, which had come to cheer him on.
However, the eyes of the normally calm and steady Lee Dae-Ho were shaking badly.
Thinking something might have happened to the vehicles carrying the fan club members, I quickly asked, "What is it? Did something happen to the fan club's buses?"
"No. It's not that... Just take a look at this first."
Lee Dae-Ho held out his phone. On the screen was a MeTube channel featuring a young woman in a yellow dress making a cute pose.
[Cutie Eun-Yung's Secret Files]
-Random behind-the-scenes stories from the entertainment industry.
-3,200 subscribers.
Judging from the fact that there were only three uploaded videos, the channel hadn't been around for long. But the moment I saw her face, I immediately understood why Lee Dae-Ho looked so disturbed.
"That's... Tae-Poong's first love, isn't it? Kim Eun-Yung. The idol trainee who used to be at the same agency as him?"
"Yes. That's right."
Kim Eun-Yung had been Lee Tae-Poong's first girlfriend. For twenty million won, she had sold photos of herself lying in bed with Lee Tae-Poong to their agency. Those photos had eventually fallen into Kim Ae-Ja's hands and were meant to be used to keep Lee Tae-Poong under her control.
Fortunately, I had stepped in and stopped it. Otherwise, just like in my previous life, Lee Tae-Poong would probably have spent this life living under sponsorship arrangements.
And yet, despite everything, Kim Eun-Yung had boldly returned to Korea.
"When did she start this channel?" I asked.
"I'm not sure either. But I definitely heard she took the money from the agency for those photos and then went to America..."
It seemed sending Kim Ae-Ja to prison had caused changes that hadn't happened before the regression. In my previous life, Kim Eun-Yung had never set foot in Korea again.
Just then, the sound of a large bus pulling into the parking lot echoed through the area.
Screeeech.
It was the chartered bus carrying members of Eye of the Typhoon.
"Mr. Dae-Ho, don't worry. I'll look into it."
"Yes, sir."
I pulled out my phone to call Chief Choi Go-Yoon and ask him to find out where Kim Eun-Yung was currently staying.
But at that moment, the bus door opened.
Hiss.
Jang Yung-Sun, the thirty-five-year-old president of Eye of the Typhoon, stepped off first. And right behind her, Kim Eun-Yung stepped down from the bus, stretching her arms.
'Why is that villanous woman here?'