Chapter 187: Control>
As people invested in cryptocurrencies, the stock market declined thereafter. KOPSI index plunged and Daeyang Electronics were in a debacle.
From 300 dollars, it dropped to 100 dollars. It wasn’t just Daeyang Electronics. The same thing was happening to Daeyang Construction, Daeyang Life, and other Daeyang departments.
“The One 3’s sales have dropped to 60% since last month. The cheaper versions we launched in India isn’t faring well either because of Chinese phones.”
At Suk Jinmyung’s report, Choi Taemin frowned. “So what does that mean for our company?”
“If this goes on, we will have to close down at least one of our smartphone factories. We will have to pull back our investments in Brazil and India too.”
“Did you say our debt ratio is at 90%?”
“Yes. It’s the worst it has ever been since IMF.”
Choi Taemin bit his lips.
Suk Jinmyung continued anxiously, “The problem is the debt ratio still rises…”
Choi Taemin screamed, “Why did you let this happen?”
“I already included this fact in the last report for the Chairman, but he said we needed to continue making aggressive investments to survive…”
Choi Taemin rubbed his temples. “That stupid old man.” He knew the situation was dire. Choi Taemin continued, “What kind of loss are we looking at if we discontinue all our investment projects?”
“I will report back to you with the calculation.”
Choi Taemin clenched his teeth and replied, “You should have come today with the calculations ready.”
“I apologize.”
“Idiot!”
Suk Jinmyung reddened.
A meeting with JP’s Steve was arranged.
Choi Taemin asked Steve who came to his office, “Didn’t you say it will be KND’s stock that will drop?”
Choi Taemin couldn’t help his aggressive tone. JP’s Steve remained silent.
Choi Taemin continued angrily, “How can this happen? Weeks have passed and the situation has gotten worse! Daeyang stock price is at its lowest!”
“JP is doing the best it can, but President Kang Woosung is better prepared than we expected. Things didn’t work out as we planned.”
“What happened to the patent lawsuit?”
“We filed it, but it will take years for the result.”
“What about the anti-monopoly law you were perusing?”
“We are working on it, but Kang Woosung has spent hundreds of millions of dollars lobbying himself in the US government so…”
Choi Taemin fumed with fury.
He replied rudely, “Those key developers you got us to hire are the worst. We spent millions on them as you recommended and they are useless. What the hell!”
Steve remained silent.
Choi Taemin asked, “Say something!”
“Once JP announces its investment plan for Daeyang, your stock price will recover quickly. JP is prepared to invest billions of dollars.”
“Assistant Suk, how much do we need right now?”
“About 10 billion dollars, sir.”
Choi Taemin smiled sarcastically and turned to Steve, “We came up with the number. Can you invest 10 billion dollars on us?”
Surprisingly, Steve nodded. “No problem, but Daeyang’s stock has declined so much, JP won’t be paying premium.”
Choi Taemin’s eyes widened. He was expecting a flat-out rejection. He planned to negotiate, and he would have been happy with 3 billion dollars.
He asked politely, “Are you sure JP can invest 10 billion dollars on Daeyang?”
“If it’s necessary, we can go even go higher. The request you made has also been approved by our headquarters.”
“You mean the report that President Kang Woosung has a foreign fund sponsor?”
Steve nodded. “You can leak it to the media. You can even mention the initial ‘J’ as the foreign sponsor. Release the news that Kang Woosung was funded by a hedge fund ‘J’ and the actual money came from Japan. When the media asks, JP Morgan will remain silent and make no comments.”
Choi Taemin rubbed his chin. “Hmm.”
“It is a well-known fact that the Korean public has a negative feeling towards Japan. If you paint a picture of Kang Woosung allowing Japan to take over the Korean economy, it will surely destroy him.”
Choi Taemin nodded in agreement.
***
Moon Yongjun frowned angrily. “Does he think this is a brothel?”
Daeyang was still untouchable. Whenever it asked for something, there was no option other than following its order.
Moon Yongjun’s assistant replied, “Daeyang requested another girl for Choi Taemin with a promise of a possible contract for the cellphone commercial.”
Bang!
Moon Yongjun slapped the table.
“Daeyang! Daeyang! They ruined so many actresses!”
“A High Entertainment CEO actually contacted us for help. Apparently, Choi Taemin also asked for a specific actress from that agency, and they want to protect her.”
Moon Yongjun’s power in the entertainment industry was minimal, but it improved recently with Woosung’s help.
“Stop him…”
Moon Yongjun murmured, but he knew he couldn’t stop Daeyang alone.
The assistant asked, “What should I tell the High Entertainment’s CEO?”
“Tell him I will take care of it.”
“But sir, it’s too risky for you. Lee Ari has a contract with Daeyang Construction, and this could be ruined.”
“It doesn’t matter. We can’t let this continue.”
After the assistant left, Moon Yongjun made a call.
***
Suk Jinmyung’s face darkened. “What? You are refusing me?”
The voice on the other side of the phone answered apologetically, “I’m sorry, sir, but she isn’t feeling well today.”
“Who cares? Do you want to disappear from the entertainment industry? Don’t you know what happens if you don’t do what I say?”
“T… that is… I’m sorry, but not today.”
“Are you crazy?”
“I’m sorry.”
Afterward, the conversation was over.
Suk Jinmyung couldn’t believe what had happened.
As a representative of Daeyang, he was never refused like this.
Suk Jinmyung quickly texted the three major TV station directors.
“Daeyang requests that High Entertainment’s Shin Ahmin excluded from any TV appearances.”
He then quickly tried to come up with another female celebrity for Choi Taemin. Suddenly, he got replies from the three directors.
“MBD Director Choi: Sorry. I’m afraid that’s not possible.”
“SBC Director Park: I’m sorry.”
“YTT Director Kim: I can’t fulfill your request.”
Suk Jinmyung stared at his phone. He murmured angrily, “What the hell… Did they all go insane?”
Suk Jinmyung called his connection in the Korea Communications Commission, which controlled all TV stations, but he was denied again.
“Just who is behind Shin Ahmin?”
Suk Jinmyung contacted many of his sources, but he came up with nothing.
Suddenly, his phone rang. It was a number he didn’t recognize. When he answered, he was greeted by a familiar voice.
“Chun Gisu?”
“I heard you are having a hellish time with the vice president.”
“You traitor…”
Chun Gisu laughed and replied, “We are only pawns in this dangerous game.”
Suk Jinmyung answered sharply, “What do you want?”
“Just how long are you planning to remain as Choi Taemin’s slave?”
Suk Jinmyung swallowed hard. He could guess what Chun Gisu would offer.
Suk Jinmyung replied firmly, “I am not interested.”
“So you choose to be a slave?”
Suk Jinmyung reddened. Another text message arrived on his phone.
“I’m sorry, but that female actress is not available for Choi Taemin today.”
Suk Jinmyung was being rejected by everyone he contacted. He could imagine how Choi Taemin would react. He started sweating.