Chapter 148 ·A Difficult Battle

A ‍​‌​‌​​​​​‌‌​​​​‌​‌‌​​‌‌‌​‌‌​​‌​‌​​‌​​​​​​‌‌​​​‌​​​‌‌​‌‌‌​​‌‌‌​​​​​‌‌‌​​‌​‌‌​​​​‌​‌‌​​‌​​​‌‌​​‌​​​​‌‌​‌‌‌​‌‌​​‌‌​​​‌‌​​‌‌​​‌​​​​​​‌‌​‌‌‌‌​‌‌​​‌‌​​​‌​​​​​​‌‌‌​‌​​​‌‌​‌​​​​‌‌​​‌​‌​​‌​​​​​​‌‌​​​​‌​‌‌​‌‌‌​​‌‌​​​‌‌​‌‌​‌​​‌​‌‌​​‌​‌​‌‌​‌‌‌​​‌‌‌​‌​​​​‌​​​​​​‌‌‌​‌​​​‌‌​‌‌‌‌​‌‌​‌‌​‌​‌‌​​‌​‌​​‌​​​​​​‌‌‌​‌‌‌​‌‌​​​​‌​‌‌‌​​‌‌​​‌​​​​​​‌‌​‌‌​‌​‌‌​‌​​‌​‌‌‌​​‌‌​‌‌‌​​‌‌​‌‌​‌​​‌​‌‌​‌‌‌​​‌‌​​‌‌‌​​‌​‌‌‌​‍‍​‌‌​​‌​‌​‌‌‌‌​​‌​‌​​‌​‌​​‌‌‌​​​​​‌‌​​‌​​​‌‌​‌​​‌​‌​​‌​​‌​​‌‌​‌‌​​‌​​‌​​‌​‌‌​‌‌‌​​‌​‌‌​‌​​‌​‌​‌​‌​‌‌​​‌​‌​‌‌​‌‌​‌​‌‌‌​‌​​​‌‌‌‌​​‌​‌​‌​​‌​​‌​‌​‌​‌​‌‌‌​‌​​​‌‌‌​‌​​​‌‌​​​‌‌​​‌‌​​​‌​‌​​​​‌​​‌‌‌​​‌‌​‌‌​​​‌​​​‌‌​​​​​‌‌‌​‌​​​‌​‌​​​‌​‌‌​​​‌​​‌‌​‌‌​​​‌‌‌​​​​​‌​​​​‌​​‌​‌​‌​‌​‌​‌‌​​​​‌​‌​‌‌​​‌‌​‌‌‌​​‌​‌‌​​‌​‌‌​‌‌​​​‌​​​‌​‌​​‌‌‌​​‌​‌​‌​​​​​‌​‌​​‌‌​‌​​‌​​‌​‌‌‌​​‌‌​‌​​‌​​‌​‌‌​‌‌‌​​‌​‌‌​‌​​‌‌​‌​​​​‌‌​​​‌​​‌​​‌​​​​‌​‌​‌‌​​‌‌​‌‌​​​‌​​‌​​‌​‌‌​‌​‌​​‌‌​‌‌‌‌​‌‌​‌​​‌​‌​‌​‌‌​​‌​​​‌‌‌​‌​​‌‌‌​​‌​‌‌​​‌​‌‌​​​‌‌​​‌‌​​‌​​‌‌​‌​‌‌​‌‌‌‌​‌​​‌​​‌‌​​​​‌‌​​​‌​‌‌‌​​​​​‌​‌​​‌‌​‌​‌‌​‌​​​‌‌​​​​​‌‌​‌​​​​‌​​‌‌​​​‌‌​​‌​‌​‌​‌​‌‌​​‌​​‌​‌​​‌​‌​​‌‌​‌‌​​​‌‌​‌​​​‌​‌​‌​‌​‌‌​​‌‌​​​​‌​‌‌​​​‌​​​‌‌​​‌​​‌‌​‌‌​​​‌‌‌​‌​​​‌​‌​​‌‌​​‌‌​​‌‌​‌​​‌‌‌​​‌​‌​​‌​​‌​‌​‌‌​​‌​​‌​​​​‌​​‌‌‌​​‌​‌​‌‌​​‌‌​​‌​​​‌​‌‌​​​​‌‌​‌‌​​​​‌‌​​​‌​‌‌​​‌​​​​‌‌​​​​​‌‌‌‌​​​​‌‌​‌​​‌​‌‌​​‌​​​‌‌​‌‌​‌​‌‌‌​‌​​​​‌‌​​​‌​‌​‌​​​‌​​‌‌​​​​​​‌‌​‌​‌​‌‌‌​​‌‌​‌‌​​‌​​​‌‌​‌‌‌​​‌​‌​‌‌​​​‌‌​‌‌​​‌​​‌‌‌‌​‌​​​‌‌​​‌​​‌‌‌​​‌​​​‌‌​​‌​​‌‌‌‌​‌​‌​‌‌​​‌​​​‌‌​​‌‌​‌​‌‌​‌‌​​​​‌​‌‌‌‌​‌​​‌‌​‌​​​​​‌‌​‌​​​‌​​‌‌‌‌​‌​‌​‌‌‌​‌‌​​‌‌‌​‌‌‌​‌‌‌​‌‌​​​‌‌​‌​‌​‌‌‌​‌​‌​‌‌​​‌​‌​‌‌‌​‌​​‌‌‌​​‌‌‌‌​​‌​‌‌‌​‌​​​‌‌​‌​​​​‌‌​​​​‌​‌​‌‌​​​​‌​​​​‌​​‌​‌‌​​‌​‌‌​​​‌​​​‌‌​​‌​​​‌‌​‌​​​​‌‌​‌​‌​‌​‌‌​‌​​​‌‌​​​​​‌​​​‌‌​​‌​‌​‌​​​‌​​‌‌​‌​​‌‌​​​‌​‌​​‌​‌​​‌​​‌​‌​​‌​‌​‌‌‌​‌​​​‌‌​​‌‌‌​​​​​‌‌‌​‌​‌​‌​‌​​‌‌​‌‌​‌‌​‌​‌‌​​‌​​​‌‌‌​‌‌‌​‌‌​​‌​​​‌‌​‌​‌​​‌​‌‌​‌​​‌‌​‌​‌‌​‌​​‌‌‌​​‌‌​‌​‌‌​‌‌‌‌​​​​‌‌‌​‌​​​‌‌​​​‌​​‌‌​‌‌​‌​‌‌​‌‌​​​‌​‌​‌​​​‌​‌​‌‌‌​‌​‌​‌​‌​‌​​‌‌‌​​‌​​​​‌‌​‌​​‌‌‌‌​‌​​​‌‌​​‌​‌​​‌​​‌​‌​‌​​​‌‌​​​‌‌​​‌‌​​​​​‌‌​​‌​​​‌‌‌​​​‌​‌‌​​‌​‌​‌‌​‌‌​‌​‌​​‌​​‌​‌‌‌‌​‌​​‌​​‌‌‌‌​‌​​‌​​​​‌​​​‌‌​​‌​‌‌​​‌​‌​‌​‌​​​‌‌​‌​‌​​‌​‌‌​​‌​‌‌‌‌​​​​‌​‌​‌​​​‌​​​‌​​​‌‌​​‌​​​‌​‌‌​​​​‌​‌‌​‌​​‌‌​‌​‌​​‌​​​​‌​​‌​‌​​​​​‌​​‌‌​‌​‌​‌​‌‌​​‌​​​​‌​​‌‌​‌‌‌‌​‌​‌​‌‌‌​‌​​​‌‌​​‌​​‌‌‌​​‌​​‌​​‌​‌​‌​‌‌​​‌‌​‌‌‌​​‌​​​‌‌​​‌‌‌‌​​​​‌​​‌‌‌​​‌‌​‌‌​​​‌​​‌​‌​​​‌‌​​​‌​‌‌​​‌​​​​‌‌​​‌‌​‌​‌‌​​‌​‌‌‌‌​​​​‌​​‌​‌‌​​‌‌​​‌​​‌‌‌‌​​​​‌‌​‌‌‌​​‌‌​​​​‌​‌​​​‌​‌​‌‌​​‌​​​​‌‌​​‌‌​‌​‌​‌‌​​‌‌​‌​‌‌​‌​​‌‌‌​​‌​​‌‌​‌​‌​​‌‌​‌​​‌‌​​​​​‌‌​‌​​​​‌‌​‌​​​​‌​​‌‌‌​​​‌‌​​‌​​‌‌​‌​​​​‌‌​‌‌‌​​‌​‌​‌‌‌​‌​​​‌​‌​‌​‌​‌​‌​​‌‌​​​‌​‌​‌​​‌​​‌‌‌‌​‌​​‌‌​​‌​​​​‌‌​‌​​​‌​‌​‌‌​​‌‌​‌‌​‌​​‌‌​​​‌​‌​‌​​‌​​‌​‌​​​​​‌​‌​‌​​​​‌‌​​​​​‌‌​‌​​‌​‌​​‌‌​​​‌​​​​‌‌​‌​​‌​‌​​‌‌‌​‌​​​‌​‌‌​​‌​‌​‌​‌‌‌​‌​​‌‌​‌​‌‌​‌​​‌​‌​​‌‌‌‌​‌‌​‌​​‌​‌​​‌​​‌​​‌‌​​​​​‌​​‌‌​‌​‌‌‌‌​‌​​‌​‌​​‌​​‌‌​‌​​​​‌​‌‌​​‌​‌​‌​‌​​​‌​‌‌​​‌​​‌‌​​‌‌​‌​​‌‌​‌​‌​‌​‌​​​‌​‌​​‌​​‌‌​‌​‌​​‌​‌‌​‌​​‌‌​‌‌​‌​‌​‌​​​‌​‌‌‌‌​​‌​‌​​‌‌​‌​‌​‌​‌​​​‌​​​​​‌​​‌‌​​​‌​‌​‌‌​‌​​‌​​​‌‌‌​‌​‌​‌‌​​‌‌​‌‌​‌​‌​​‌‌‌​​‌‌​‌‌​‌​‌​‌​‌​‌​​‌‌​​​​​‌​​‌‌​‌​‌​‌​‌​​​‌​‌​‌​‌​‌‌‌‌​​​​‌​​‌‌‌​​‌​​​‌​​​‌​​‌​​‌​​‌‌​‌​​​‌​‌‌​​‌​‌‌‌‌​‌​​‌‌​​​‌‌​‌‌‌‌​​‌​‌​‌‌​​‌​‌​‌​‌​​​‌‌​​​‌‌​​‌‌​​‌‌​‌​​‌‌‌‌​‌​​​‌​​​‌​‌‌​​‌​​‌‌​‌​‌​‌​​‌‌‌​​‌‌​‌​‌​​‌​‌​‌‌​​‌‌​‌‌​‌​‌​‌‌​‌​​‌​​​‌‌‌​‌​‌‌​​‌​​‌‌​‌​​​‌​‌‌​​‌​‌​‌​‌​​​‌​​‌​​‌​​‌‌​​​​​‌​​‌‌‌​​‌​‌​‌‌‌​‌​​​‌​‌​‌‌‌​‌‌‌​‌​‌‌​‌​​‌​‌​‌​​​‌​‌​​‌​​‌‌​‌‌​​​‌​​‌‌​‌​‌‌‌‌​‌​​‌​‌​‌​‌​‌‌‌​‌‌‌​‌​​‌‌‌‌​‌​‌​‌​​​‌​​‌‌​‌​​‌‌​​​​​‌​​‌‌‌​​‌​​​‌​​​‌​​‌​‌​​‌‌​‌‌​‌​‌​​‌‌​‌​‌‌​‌​‌​​‌​​​‌​‌​​‌‌​​‌​​‌​​‌​​‌​‌‌​‌​​‌​‌‌‌​‌‌‌​‌‌​‌​​‌​‌‌​​‌​​​‌​​​‌‌‌​‌​​​‌‌​​‌‌​‌‌‌​​‌​​‌​​‌​‌‌​‌​‌​​‌‌​‌‌‌‌​‌‌​‌​​‌​‌​​‌​​‌​‌‌​‌‌‌​​​‌‌​​​​​​‌‌‌‌​‌‍Difficult Battle

The failure of the Taeshin Trading shareholders' meeting plan, Tae Gun-seung and Kang In-hyuk's safe return to Korea, and the lifetime transfer of assets...

Im Deok-chang, who sat organizing the situation in the National Intelligence Service office, felt a headache coming on.

"Why did Orbis Investment and Lumen Holdings decide to back AMK Partners?"

This was the part he could understand least.

All three companies were private equity funds and were essentially competitors.

Of course, if AMK Partners seized management rights in Taeshin Group, the two firms holding shares there would also surely profit.

However, even if they offered support, as competitors, checks and balances are the norm.

It was strange to see them joining hands, despite knowing all this.

With this in mind, Im Deok-chang called in Choi Dong-hoon, who was outside, through an internal call, and asked:

"Lumen and Orbis still not making any moves, right?"

"It seems they intend to return after wrapping up the temporary shareholders' meeting. After returning to their hotels, they haven't come out."

"Anyone make contact? Especially with AMK Partners?"

"No. They're only moving inside the hotel."

At the very least, Im Deok-chang had expected a light get-together after the shareholders' meeting.

But as soon as the meeting ended, the three companies left without so much as glancing at each other.

In particular, Lumen Holdings and Orbis Investment, while rejecting the motion for appointing a new CEO, even displayed an awkward atmosphere with AMK Partners.

"Did AMK get some dirt on the two companies? Or did they promise some kind of deal?"

Of course, Im Deok-chang had no information proving either case at the moment.

Choi Dong-hoon thought for a moment and then carefully said:

"Even so, would it outweigh the profits they get from Taeshin Group?"

Taeshin Group is a world-renowned company. As shareholders, the benefits could shift greatly, depending on where they throw their support at the shareholders' meeting.

Moreover, from the perspective of Lumen Holdings and Orbis Investment, siding with CEO Tae Seok-ho would be more favorable than with the similar AMK Partners.

By helping him secure management rights with their shares, they could also secure stakes in certain business projects.

Surely, they should have done this simple math. But their actions were more peculiar than expected.

"This is such a mess. And the director is acting strange too. Ah, have you checked all of the director's recent movements?"

He was talking about the previously ordered background check on Director Jin Jong-man.

Of course, he'd already received preliminary reports on communications and movements. Nothing unusual had been found.

But Im Deok-chang didn't give up; he continued the investigation.

"Should I only report what we've confirmed so far?"

"Just bring it here."

Soon, Choi Dong-hoon returned and handed Im Deok-chang a tablet.

As Im Deok-chang checked the contents, his brow twitched.

"No suspicious individuals at all. So who the hell tipped off the connection between Notex and Hwain Techon?"

"Could it have been Deputy General Manager Choo Jae-min or Deputy General Manager Shin Jin-hong?"

Im Deok-chang let out a dry laugh.

"If Choo Jae-min had known, would he have just let it happen? And Shin Jin-hong? How could that money-obsessed, incompetent trash manage such a thing?"

In the National Intelligence Service, information is power—authority.

Information about the Notex crisis that drew global attention could be used anywhere.

"But if it wasn't Director Jin Jong-man, maybe it leaked through his channels."

"There's a chance, but... there are too many suspicious aspects for that to be the full explanation."

Saying this, Im Deok-chang tapped his fingers on the desk.

The true source of the Hwain Techon information, Skull's backer, the Taeshin Group situation—there was just too much to consider.

"Wouldn't it be better to just get rid of Director Jin Jong-man?"

That would be the fastest way to solve things.

If Jin Jong-man disappeared, any ongoing investigations would come to an abrupt halt.

But Im Deok-chang's expression didn't loosen.

"Is there any guarantee that I'd be the next director? And even if I was, would I be able to keep the post next administration?"

He might end up in the director's seat only for the remainder of the president's term.

And with all the matters Jin Jong-man had stirred up, if things went wrong, his successor would likely take the fall alone.

Thus, though Im Deok-chang had considered after the current administration ended, things weren't going as he wished.

"My judgment was hasty. I apologize."

"It's fine. It's not like I haven't thought of it too. Anyway, let's just focus on wrapping up the Hwain Techon side properly."

"Is Deputy General Manager Choo Jae-min's investigation into Seunghwa going to be alright?"

"They'll take care of it. It's not our place to get involved anyway."

"Understood."

With that, the conversation ended, and Choi Dong-hoon stepped out again.

* * *

[Former Taeshin Group Chairman Tae Gun-seung declares lifetime asset transfer! In the process, he left out his eldest son Tae Seok-hyun, former CEO, and his second son Tae Seok-ho, executive vice president... Also, it's been shocking that the shares of Taeshin Trading and Taeshin Electronics held personally by the former chairman will be sold off as company-held shares...]

[Former chairman Tae Gun-seung, second chairman of Taeshin Group, to step away from management disputes alone? Amid rumors that he delegated voting rights to foreign capital without proper explanation, he announced the conversion of his shares to company-held shares through lifetime gifting...]

[Taeshin Group up in the air—what's next? The CEO position remains vacant, with another temporary shareholders' meeting scheduled. With the former chairman selling his personally held shares as company-held shares, the outcome remains uncertain...]

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On Monday morning, as soon as Na In-hyuk woke up, he checked his phone.

Since returning to Korea on Friday, the media had only gotten noisier with news about Tae Gun-seung and Taeshin Group.

"Hoo... The chairman's bombshell has left everything in total ruins."

After informing his children at home about the lifetime gift, the press received the corresponding release.

As a result, follow-up articles kept appearing, and even today, three days later, it dominated the main page of the news sites.

"There was a ruckus at the chairman's residence, too."

In particular, Tae Seok-hyun, who had been excluded from the gifting list, raised the most objection.

Of course, the reasons were clear to everyone.

The Taeshin Electronics corruption scandal. It was Chairman Tae Gun-seung who kept him from being sent to the prosecution despite the massive damage to the group.

Afterward, all shares and assets—stocks, real estate, financial, and personal—were divided accordingly. Among them, the shares of Taeshin Trading went to no one; they would be sold as company-held shares.

Naturally, the child fiercely opposed it, but Tae Gun-seung's decision was unbreakable.

Knock, knock—

At that moment, a knock sounded. There was only one person who would knock at home now.

"Just a moment."

In-hyuk slipped on a black tracksuit and opened the door.

"Were you up?"

Outside stood Tae Ju-ha, also casually dressed as if freshly awake.

"It's been a while. What's up?"

They lived together, but she rarely sought him out like this, so it felt a bit awkward.

"I wanted to ask you something before heading to work."

"Then let's talk in the living room."

They both sat down in the living room.

A wedding photo hanging on one wall caught his eye. It was a photo In-hyuk first saw when he returned to the past as the current Kang In-hyuk.

Usually, he went straight from his room to the door, so he hadn't had the chance to look; it felt like seeing it again for the first time in a while.

'When I first saw that, I was so shocked...'

While In-hyuk was staring at the photo, Tae Ju-ha spoke quietly.

"First, thank you for protecting grandfather in America. And for letting me meet with people from Lumen Holdings, too."

In-hyuk looked at her with an awkward expression.

"That was just my job. All I did was arrange a meeting with Lumen Holdings. You didn't really get the answers you were looking for."

"But we got the outcome we wanted at the shareholders' meeting."

At the time, Tae Ju-ha was very surprised when the resolution to dismiss Chairman Tae Gun-seung as CEO passed.

And when the motion for Executive Vice President Tae Seok-ho's appointment as CEO was rejected, she was genuinely relieved.

Of course, she knew that this wasn't the end.

"It's not something we can be relieved about. Since the chairman's shares will be converted to company-held shares, those votes can't be included in voting rights."

At that, Tae Ju-ha nodded.

"I know. It means he intends to completely let go of management control in the dispute."

"Now that the date for the temporary shareholders' meeting has been set, the shareholder register would be closed too. That means acquiring proxy forms for Executive Vice President Tae Seok-ho and AMK Partners will be key."

The closing of the shareholder register is a provision in the Commercial Act to block share transfers until the shareholders' meeting.

With buying and selling stock impossible, the proxies collected from major shareholders will have a big impact.

"That's not really favorable to AMK Partners."

"Given the domestic situation, handing management over to a foreign firm is less ideal than to Executive Vice President Tae Seok-ho."

"But it's not like his intentions are good."

Chairman Tae Gun-seung even excluded Tae Seok-ho from the recipient list, along with Tae Seok-hyun.

And Tae Ju-ha had even faced threats to her life in Vladivostok because of shares Chairman Tae Gun-seung entrusted her with. Looking at things now, it wasn't hard to guess Tae Seok-ho was behind it.

Naturally, she could not welcome the idea of handing Taeshin Group over to Tae Seok-ho.

Tae Ju-ha spoke again.

"In-hyuk, how do you think this shareholders' meeting will go?"

After some thought, In-hyuk answered calmly.

"I just know it's going to be a tough battle."

"That's obvious. I mean—who do you think will win?"

In-hyuk shrugged.

"I only got back from America three days ago. I haven't even gone back to work yet; I can't say I understand the situation here, so how could I possibly know?"

"You've got your information network. Haven't you heard anything through there?"

"Nothing much. Things are so complicated now, even they can't get a read on it. Was that what you wanted to ask me before I even went to work?"

At this, Tae Ju-ha bit her lip, sighed, and then answered curtly.

"It's just that you're so well-informed in information. I thought you might have heard something useful."

"Sorry I couldn't help you."

"No, it's fine. I guess I'm just frustrated. Grandfather inherited the company from great-grandfather and built it up so much... it just feels like he's having it all snatched away, so helplessly."

Looking at her bitter expression, In-hyuk replied.

"Honestly, it can't have been all good, being part of the Taeshin family. I didn't expect you to feel that way."

She had entered the Taeshin family after her biological mother Yoo Hye-rin's death from illness.

Because of her status as an illegitimate child, she had devoted herself to her studies to gain recognition and had risen to branch manager of Taeshin Asset Management's New York office.

Of course, through all this, she was forced into a marriage with Kang In-hyuk as well.

Her life had been anything but smooth, and Taeshin Group was always at the root of it, so In-hyuk didn't take her feelings lightly.

"Grandfather was a person who recognized ability, at least."

"That's true."

"Anyway, sorry for troubling you with a difficult question. I'll go get ready for work now."

With a long sigh through her nose, Tae Ju-ha turned and went to her room.

Left alone in the living room, In-hyuk scratched the back of his head, looking embarrassed.