YM778.TV Chapter 336 - Episode 8: Signs of Downfall
Chapter 336: Chapter 35, Episode 8: Signs of Downfall
“Ah Young, try calculating based on last quarter’s standards.” “I already did. It’s 18,900 won.” Park In Bo smiled in satisfaction at her efficiency. “You converted them based on asset value per share, right?” “Ya, I took off the repetitive ones and stopped at the 100s.” “Hehe, after revaluation, the premium should go over 25,000 won.” “Gosh, 25,000 won is five times the face value! Who’ll buy it? Anyone who does is probably mad.” Jung Ah Young tilted her head. Even companies better than Good Heart Oil didn’t issue premium corporate bonds. Who would buy corporate bonds with no interest income? “Don’t worry, Ah Young. There’s a perfect brother in the countryside. A madman who sells fields like crazy for money. Hahahaha!” Park In Bo laughed, losing all of his composure. “Oh, there’s already an investor? You’re not going to tell me who that idiot is, right?” Jung Ah Young’s eyes twinkled. She could tell, even if her boss didn’t say it. The images of Madam Jang, who had slapped her cheek, and her daughter, who had caused her head to bleed with the corner of her document tray, flashed before her eyes. “Hehehe, you’ll know soon.” “Congratulations, boss. I’ll go buy a cake.” Light-footed, Jung Ah Young left the office. Park In Bo, who was smiling the entire time, slowly hardened his expression. The Jang family was obviously excited to take over the management rights with the CB, but that would be impossible. Convertible bonds were like blowfish dishes in which blood hadn’t been drawn out. He took out a calculator and double-checked the change in shares again. If they converted the entire CB worth 3,000,000,000 won now, around 158,000 new shares would be issued. The Jang family’s plan was obvious. Their shares would exceed 50 percent if they converted based on the current issued price. Even if the conversion price increased slightly, once the three siblings combined their shares and bought other shareholders’ shares, they’d be able to replace the CEO by vote. While it was more than enough according to their calculations, the Jang family had taken him too lightly. The trap was laid with the conversion price. The Jang siblings, who were unfamiliar with the bond market, overlooked the change in conversion price. Selling the idle garages and non-commercial land in Chilgok owned by Good Heart Lodgings before the asset revaluation would significantly increase his textile assets. If one’s assets accumulated, the conversion price would increase. According to Park In Bo’s calculations, the conversion price was at least 27,000 won. While it was an obvious trick, there were no legal penalties. The stocks that were currently counted at 158,000 shares could drop to 100,000 shares. It was fine if the Jangs converted some of theirs. Once the capital surplus was accounted for, the conversion price of the remaining convertible bonds was bound to increase further. Just holding onto them instead of converting them would be problematic. They’d earn one percent of interest over three years. The interest on a bank term deposit was 13 percent. The interest on a loan was 15 percent, even with preferential interest rates. It didn’t matter whether the Jang family were landowners because to raise 3,000,000,000 won for the acquisition, they would have to sell their fields and obtain loans. The Jang family was bound to become a dog chasing a chicken on a roof. “Damn, but we did live together for decades…” Park In Bo’s face grew somber. It was saddening that he had to make an enemy of his wife. Good Heart Oil was Park’s company. The Jang family were like hyenas. They were people who’d take the company apart, not raise it. Even in ancient times, a country would waver when family members were involved. Handing over the company to Wu Tak? Impossible. He had yet to learn anything, and even now at 24, he still had no interest. He was a b*stard who only knew how to spend money and associated with gang members. Good Heart Lodgings was enough for Wu Tak. The transportation business didn’t require extraordinary management skills. He just had to take care of the people there. There wouldn’t be much of a problem even if Wu Tak was placed in charge. The passenger transportation industry was currently overflooded. Since everyone rushed into it, the returns decreased significantly. There were no more roads to build on this small land, either. Still, the charms of a cash business remained. He wouldn’t have a problem making ends meet as long as he could maintain the current situation. Good Heart Oil could fall back a little since the oil economy was doing well, but if he collapsed, the company was bound to collapse too. If he didn’t want to hand the company over to the Jang family, he had to hand it to Mu Ssang. Rather, that was the least he could do to make up for his wrongdoings. He would need an excuse to tell his brother when he visited the underworld, wouldn’t he? “Jin Bo, your brother’s sorry. I’m really sorry. I’ll give Ssang a gift even if I die, so forgive me,” Park In Bo muttered. The convertible bond plan would allow him to take his revenge and hand over the company on a clean slate. He didn’t want Mu Ssang to be concerned like he was by handing over a company full of cancer cells called the Jang family. It was Park In Bo’s special Disturbing Water to Catch Enemies plan. Park In Bo wasn’t monk Dae Woo. As someone who wasn’t aware of Mu Ssang’s abilities and wealth, he had no choice but to resort to such tricks. A week later, Good Heart Oil’s convertible bonds were issued at a face value of 3,000,000,000 won.
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Total issued: 3,000,000,000 won.
Interest rate: One percent per year.
Issue period: Three years.
Surcharge rate: 200 percent.
Conversion price: KRW 18,900
Conversion value determination: 150 percent of net asset value per share after quarterly asset revaluation.
Transition period: 90 days to maturity from the date of issue.
Conversion value: Quarterly asset value conversion. Jang Pil Nyuh’s siblings proposed the issue as directors and stamped the agreement. Now, the Jang siblings had nowhere to complain. Despite the excessive conditions that were different from the securities acquisition market, the Jang family happily stamped on the acquisition agreement. They thought the deadly poison they swallowed was honey because of the coated sugar. They were completely done in by Park In Bo and his clever tricks, but no one knew. In Park In Bo’s apartment located at Dongsan intersection. Rrrring— Park In Bo, who was preparing to go to work a little late, picked up the phone. “Boss, did you sleep well?” It was Jung Ah Young’s clear voice. Park In Bo glanced at the clock. It was slightly past 12. “Uh-huh, what is it?” “What, you’re disappointed that I’m calling?” “Yes, you brat. I thought the BOSS nightclub madam was calling to ask me over for one-on-one service.” “Tsk, why are you asking for the madam in the daytime? She should be sleeping after working all night.” “It seems like there’s something good going on considering the jokes you’re telling.” “Wow, do you have a bamboo flag in your home, boss? A margin of 300,000,000 won has been deposited for the acquisition of convertible bonds.” “What! Now, at this time?” “They must be in quite a hurry.” “Hehehe, the bait’s good. Got it. I’ll head out once I finish my lunch.” Once he hung up, Park In Bo turned the dial. “Who is this? Don’t you know it’s rude to call in the morning?” A faint voice, as though one had just woken up, answered the telephone. “Chief Ma, it’s me. It’s noon now, not morning.” “Oh, CEO, sir. I’m sorry.” “I’m sorry for waking you up. Let’s have gomguk together.” “I like gomguk. Should I head out to Myo Yeon?” “Yes. I’ll see you in 30 minutes.” Park In Bo stared blankly at the ceiling as he ended the call. Do I need to go so far? He suddenly found himself hateful. Although he wanted to live the rest of his life like a decent human being, the actions he was planning to take right now were no better than a bully. “Right. A tooth for a tooth and an eye for an eye. I can’t let all of you live happily ever after.” Park In Bo gritted his teeth. Memories of the times when he wasn’t treated like a person swept by in a flash. He remembered his father-in-law, who had been leaning against the silk cushions while receiving New Year’s greetings. While his wife’s family and the Jang elders offered their greetings, he wasn’t even allowed in the room at all. His father-in-law judged people not by their personalities but by the amount of land they owned. A person with 100 majigi of land was treated like a white person, and a person with 1,000 majigi of land was treated like a divine being. He, who only had 40 majigi of land, wasn’t treated like a son-in-law but a beggar. He remembered the embarrassing moments when he had to sit in the backyard to offer his greetings, his wife looking down at him with a mocking smile, and the Jang family members glancing at him as they walked by. Even if he didn’t want to go, he had to visit during the holidays and on his in-laws’ birthdays. Whenever he visited, he would be overwhelmed with shame and humiliation. He would then vent all that anger from being treated like a beggar on Mu Ssang. His wife had added fuel to the fire back then. His wife, whose personality was toxic and strong, used her family’s reputation to treat her husband like a slave. If his wife hadn’t pushed him to do so much, he wouldn’t have tormented his siblings’ family either. He got in huge trouble because his wife had told her father about his gambling habits with Kyung Ja’s family. Enraged, his father-in-law had publicly humiliated him by throwing a spittoon at him, tearing the skin on his forehead. The reason was that he had tarnished the Jang family’s reputation. What reputation when his daughter was forced into marriage because she had sx with the family slave? Those straight-faced bstards, who had sent their second-rate daughter to him and treated him like a nobleman’s dog, took great care of their reputation. The day when he had injured his forehead, he vowed to one day flip the Jang family on their head. Their attitude toward him changed 180 degrees ever since his business prospered. When he visited his in-laws, his mother-in-law would greet him outside the door. He was obviously the first to enter the room for the New Year’s greetings. They were truly two-faced people. Still, it didn’t mean that it made him feel more comfortable. He went through all kinds of hardships to keep his company standing while his wife’s family attached themselves to it. Those in-law bstards shoved their straws into various parts of the company and started sucking on honey. Around 55 percent of the funds invested in Good Heart Lodgings were from the Jang family. He couldn’t do anything and withstood the Jang family’s unreasonable actions. “I need to see this through to the end. You guys may have started this, but I’ll end it. This is something you’ve all brought upon yourselves.” Park In Bo brushed off his self-loathing. He didn’t lead a clean life either. There was no difference between a life in mud and a life in s**. That would be the last time he would be doing something detestable. Park In Bo had lived his entire life suffering under the influence of his in-laws. His revenge was as significant as Mu Ssang’s. He was, after all, a Park. Myo Yeon Guh . It wasn’t a thing of another world in Lee Baek’s “Answer From the Mountains” but a well-known beef bone soup restaurant. Myo Yeon Guh became famous for using refrigerated beef bones and was, therefore, Park In Bo’s favorite. It was hard to differentiate between gomguk and Seolleongtang. Seolleongtang was made with beef bones and other smaller bones, while gomguk was made with meat and intestines. Still, that wasn’t a strong distinction. Seolleongtang should be brewed with briskets and crucible. Beef bones, small bones, and head bones should be added to the gomguk for the broth to achieve a thick and rich taste. Whether it was gomguk or Seolleongtang, the names were decided according to the owner’s taste. What’s noteworthy wasn’t the name but the quality and freshness of the ingredients. Bones, like meat, deteriorated in quality when stored in freezers for a long time. The quality of the bones deteriorated quickly once thawed and stored in the freezer again. Frozen bones were half the price of refrigerated bones. When the bones were left to freeze for more than a year, they would drop back to half price. After another year, they would drop below half the price. To brew broth with refrigerated beef bones, the cost of ingredients would be 10 times more than that of frozen beef bones. “Hmmm, it’s really good. There’s nothing better to cure a hangover!” Ma Sam Shik finished the remaining white soup from his bowl and exclaimed. Ma Sam Shik used to be the boss of the Sam Shik gang, who ruled over Daegu’s streets at night. However, the entire gang had gone separate ways in 1980 when the military decided to wipe out all evil organizations for ignoring legal procedures. Even the gangs, who had survived, changed jobs or were in dire straits. All they could do was peek above the water with their mouths open like carps. Ma Sam Shik had disbanded the gang and supported himself by starting up an errand center. Park In Bo came to know of Ma Sam Shik while he was searching for Kim Mal Soon. Ma Sam Shik gladly became Park In Bo’s lackey because he was paid well. “It is good. They’re worth the price.” “There are so many customers. Seems like they’re all better off than the situations they’re in,” Ma Sam Shik complained as he looked at the hall. Myo Yeon Guh’s bowl of gomguk cost 5,000 won. One pack of ramen cost 100 won. There were many cases whereby customers would turn back at the entrance in fright of the price. “Ma, have you found anything yet?” “I’m sorry, boss. I have sent out more people since last month. We’re planning to look through Masan this time.” “Hoo!” Park In Bo let out a deep sigh. His heart ached. It had been eight years since he first began searching for Mrs. Jae Soo through the Sam Shik gang. The Sam Shik gang had sent out 30 members. He employed people to search for her traces, and he also frequently looked at records of unidentified bodies registered with the police through lawyer Lee. “You must find her. Don’t worry about the money, and use as many people as you want.” Jae Soo had to be alive somewhere. It was Park In Bo’s stubbornness and hope. He felt as though he could relieve some of his guilt by finding Jae Soo. It was something that had to be done before he died. “Of course. Your business is my business, boss. Is there anything else?” “I need you to spread some rumors.” “Tell me what to say.” The gang leader pulled the cushion closer to the table. He could smell money. “How many errand centers can you mobilize?” “I can mobilize half of the errand centers in Daegu.” “Do you know Mr. Jang Kyung Ju of In-Dong, the rich man?” “There’s no one who doesn’t know that man. The mayor of Daegu used to visit him in the past.” “There will be large plots of the In-Dong Jang family’s farmland on the market soon.” “Whaaat?” Sam Shik’s eyes grew as wide as the bowl before him. What kind of front-kicking cow story was that? Why would the In-Dong Jang family sell their land? “There’s nothing to be surprised about. I don’t want that land to be sold easily.” “I understand what you want.” Sam Shik nodded his head. Sam Shik was someone who lived in the backstreets for 20 years. This was that, and a bushing noise was the sound of a neighbor’s housewife’s apron coming undone. “You can’t let them know the source of the rumors.”
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