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CH91 | MCT
🕑 Added 2025-05-17 09:09:19 +0000 UTCCheongil Heavy Equipment (2)
Tae-soo pointed directly at the heavy equipment company president.
"Starting today, that means I'm your boss."
When a company is acquired, not only do assets and real estate change hands, but so do liabilities and employees.
Cheongil Oil Refinery may have secretly moved some of its assets and personnel beforehand, but Cheongil Heavy Equipment remained untouched.
So yes, Tae-soo was now indeed the superior of the heavy equipment president.
"Rubbish! I’ve heard nothing of the sort from the Chairman!"
From their perspective, disbelief was natural.
If Cheongil Heavy Equipment was being acquired, Han Cheong-ho would have said something long ago—but not a single word had been mentioned.
‘There’s no way such a ridiculous thing could be true!’
‘Even if it’s possible with Cheongil Oil, Cheongil Heavy Equipment too? That’s absurd!’
Tae-soo smirked.
"With that last comment, that’s three months' salary docked."
Lee Chang-won let out an incredulous laugh.
Tae-soo pulled a contract from inside his jacket and waved it.
"Let’s check the contract first before saying anything else."
He held it right in front of the heavy equipment president’s face.
"As of today, Cheongil Heavy Equipment has been merged with and acquired by Taeyang."
The title alone made the contract look serious.
<Contract for the Acquisition and Merger of Cheongil Oil and Cheongil Heavy Equipment>
As the heavy equipment president quickly snatched it up, the oil/refinery company president rushed in to read alongside him.
The two presidents’ eyes widened at the acquisition amount and contract terms.
"Ten won?"
"All debts transferred entirely to the Cheongil Group?"
"Both Cheongil Oil and Cheongil Heavy Equipment?"
"And the Chairman signed this without protest?"
"This is insane!"
Tae-soo watched as the two presidents blurted out stunned reactions.
This wasn’t the time for recruiting talent.
It was time to drill discipline into his subordinates.
‘Lee Chang-won of Cheongil Heavy Equipment—famous for his bold, unstoppable drive and results-oriented leadership.’
Back in the 1970s, heavy equipment factories imported foreign parts and assembled them domestically in Korea.
But Lee held fast to an unbreakable conviction.
– Independent technology development is the only way to survive!
– I will make Cheongil Heavy Equipment the best heavy equipment company in Korea!
He was so passionate about technology development that he even ran a dedicated research lab.
Starting one year from now, preparations for the tech development lab would begin, and within five years, the quality of Cheongil Heavy Equipment would be significantly elevated.
Thanks to this, Han Cheong-ho greatly valued him.
‘But right now, he hasn’t been able to fully realize his ambitions. There was a period when he struggled due to severe disagreements with Han Cheong-ho.’
This time, Tae-soo shifted his gaze toward the president of Cheongil Oil Refinery.
‘Meticulous and relentless, No Il-guk of Cheongil Oil Refinery is notorious for squeezing profits even from the residue of petroleum byproducts.’
During the crude oil refining process, various petroleum products are filtered out at different stages.
These are sold under names like LPG, gasoline, kerosene, diesel, heavy oil, lubricants, asphalt, paraffin, and so on.
‘No Il-guk obsessed over refining technology to sell even a little more petroleum at a higher price.’
Since No Il-guk’s appointment as president, Cheongil Oil had steadily improved its refining capabilities.
That wasn’t all.
To sell more refined oil, they rushed to build gas stations in strategic locations across the country.
‘There aren’t many gas stations yet, but once cars spread through the middle class, Cheongil gas stations will be found in the prime spots nationwide. All thanks to Il-guk.’
That’s why Tae-soo was quite pleased with the current situation.
He picked up the nameplate resting on the president’s desk.
“Cheongil Heavy Equipment President, Lee Chang-won.”
“······”
“Since you’ve seen the contract, you must fully understand the situation by now.”
“······”
“What are you going to do with this nameplate?”
Tae-soo tapped the nameplate lightly with his finger.
“I’m giving you a chance to choose.”
Lee Chang-won looked at the nameplate.
“You can either carve out a new nameplate under me or take this one and return to Cheongil headquarters. You must decide.”
“There’s no choice to be made. I’m obviously going back to Cheongil headquarters. Insolent bastard.”
Tae-soo nodded.
“Then so be it. No need to resign either, just take this.”
Without hesitation, he threw the nameplate to Lee Chang-won.
Lee caught the nameplate on instinct.
“Even if you go back, I’m not sure your place at Cheongil will be secure.”
“I am Lee Chang-won of Cheongil. I’m an important executive cherished by the Chairman of the Cheongil Group. Even if it’s not as heavy equipment president, I’m not worried about my position.”
“That’s just what you think.”
Tae-soo smirked.
“If you had read the contract, you’d know how much deficit the Cheongil Group has taken on.”
It was an enormous sum, considering they’d absorbed the losses from affiliated companies, including those of Cheongil Oil and Heavy Equipment.
Lee Chang-won was the one who had confirmed the amount after the deficit was passed on to the group.
“What state is the Cheongil Group in now?”
The two presidents swallowed hard.
It was obvious that the situation was dire.
Tae-soo went through the facts point by point.
“The heavy equipment business that used to bring in big money has been taken away.”
“On top of the existing debt, they’re now stuck with the enormous deficit caused by the recent oil crisis.”
“The factories need to run immediately, but there’s no oil.”
“And the acquisition price for a company worth hundreds of billions was just twenty won.”
The more they heard, the more stunned they became.
The situation was far worse than anyone imagined.
“In the end, will Cheongil Group go bankrupt, undergo massive restructuring, or have no choice but to sell off subsidiaries to reduce debt?”
The expressions on the two presidents’ faces changed.
“One of those three options is inevitable. You understand that, right?”
There was no way they didn’t.
It was clear everything would unfold exactly as Tae-soo said.
“Whatever happens, pay cuts and restructuring will naturally follow. Who will be cut in this restructuring? Of course the employees, but also many of the highly paid executives.”
A storm was coming for Cheongil.
It was a predictable consequence from the moment the contract was signed.
“Right now, the top executives at Cheongil are packed with the chairman’s loyal supporters. These are longtime faithfuls who would even go to jail on Han Cheong-ho’s orders.”
They were the people who had grown the group together with Han Cheong-ho since the Japanese occupation.
They never questioned his commands.
They were an indispensable, powerful faction backing Han Cheong-ho within Cheongil.
“But what about you?”
Tae-soo slammed his hand on the president’s desk.
“You climbed fast to this position in your late forties. You’re here because of your skills, not because you’re one of Han Cheong-ho’s loyalists. Isn’t that right?”
He had earned his place through ability and results.
Not through loyalty and trust.
“When Cheongil stumbles, subsidiaries are cut, and the group is halved with bitter tears, who do you think Han Cheong-ho will stand by? His loyalists? Or you?”
The answer was obvious.
When the group was growing, capable people were needed.
But in hard times, reliable people who share hardships matter most.
“What kind of person are you to Han Cheong-ho? Can you guarantee that when the Cheongil Group struggles, he’ll entrust you with one of the few key posts left?”
Lee Chang-won bit his lip.
“I wish Han Cheong-ho would trust you as much as you trust yourself. But how is it in reality? Does he even listen to you?”
He didn’t even hear it.
If he had, the establishment of a heavy equipment technology research lab would have already happened long ago.
Tae-soo perched on Lee Chang-won’s desk and smiled.
“On the other hand, because of this merger, the acquisition funds we had prepared remain intact.”
It was the exact opposite of the Cheongil Group.
They acquired Cheongil Heavy Equipment and Cheongil Oil Refinery—worth hundreds of billions—for just twenty won, with no deficits at all.
“With that money, I plan to establish a heavy equipment technology research lab, acquire a factory that produces parts in-house, and even pursue technology partnerships with foreign companies.”
Technology development was something Han Cheong-ho wouldn’t even dream of.
Right now, they were just importing foreign parts and assembling heavy equipment like patchwork to sell.
“The key positions held by Cheongil’s loyalists? You probably won’t get your position back until they retire.”
Lee Chang-won resigned himself to the fact that those key posts were untouchable.
Not only were territorial disputes rampant, but the checks and balances were too severe.
The path upward was completely blocked.
“Meanwhile, Taeyang, which is just starting to rise, has plenty of open positions. You can climb up as much as you want. Being the heavy equipment president isn’t the end.”
Tae-soo asked one last time.
“Cheongil or Taeyang. The choice is yours.”
Lee Chang-won lowered his eyes, bent his back slightly, and instinctively knew it was time to let go of his pride.
“If you choose Taeyang instead of Cheongil, your position would be...”
“Didn’t you hear me earlier? Demoted by one rank.”
Since Tae-soo was president, Lee Chang-won’s natural position in Taeyang would be vice president.
“Could it be executive director?”
“Don’t you want that?”
Of course he didn’t.
It took less than ten minutes to drop from president to executive director.
But it had taken more than ten years to climb from executive director to president.
“I don’t yet know your full abilities.”
Truthfully, Tae-soo already knew his capabilities well.
He could have offered a higher position anytime.
Taeyang was severely lacking talent despite its growth in size.
But Tae-soo deliberately offered the executive director position.
“I want someone capable. Don’t beg me for loyalty or position. Prove your abilities and usefulness. Those things are earned on your own.”
Tae-soo’s demand was simple.
“Earn the right to speak by handling important matters. Secure your salary and trust with confidence. Climb to your desired position by yourself.”
Tae-soo smiled slyly.
“You’re the only one suited for that position. Demand it properly from me when the time comes. That’s how it works. Isn’t it?”
Lee Chang-won’s mind was in turmoil.
‘Do I keep my pride and become unemployed, or abandon my pride and accept executive director? But strangely, my long-cold heart is beating again.’
Tae-soo was silently forcing the choice.
If he planned to stay loyal to Cheongil, then he might as well quietly disappear.
‘Has anyone ever made me an offer like this?’
Lee Chang-won was a capable man.
Naturally, many around him wanted to win him over and coveted his talents.
Their words were often similar:
- “Give me your loyalty, and good things will come your way.”
- “Trust only me, and we’ll go all the way. Don’t you recognize the benefits of having a good line?”
- “Just work hard, and I’ll make sure you get promoted.”
All empty promises—bad checks they couldn’t cash.
‘But this man demands I prove my abilities on my own.’
Lee Chang-won found Tae-soo different.
‘He promises nothing. Instead, he pushes me to take what I can by my own skill.’
There was even a glimpse of ambition: if you have ability, you can get anything.
This young man was more daring and straightforward than expected.
‘It’s unbelievable to watch—he carries a weight and pressure heavier than any other conglomerate head. Even more solid than the chairman himself.’
Lee Chang-won’s heart pounded.
‘Whether I return to Cheongil or move elsewhere, my limits are set. A salaried president can be replaced anytime. Fine, I’ll take on a new challenge.’
Not relying on connections or office politics, but earning everything through skill and talent.
Just thinking about it made his heart race fiercely.
Finally, he bowed deeply, ninety degrees.
“I will take on the executive director position at Taeyang Heavy Equipment and work hard. Please take care of me, President.”
“Good. Let’s work well together.”
Tae-soo nodded.
No Il-guk, watching nearby, took a deep breath.
‘Lee Chang-won humbly accepting the executive director role at this small company... He could have taken a key position at another company.’
Seeing Tae-soo easily acquire such talent made him take notice.
‘Well, hearing words like that even makes my fists clench on their own. How could it not?’
No Il-guk, too, had proven himself by ability, not by relying on connections or loyalty.
He kept clenching and unclenching his fists without realizing it.
He was so nervous his hands were drenched in sweat.
‘My heart feels hot, just like when I first joined the company, excited by a bright future ahead.’
No Il-guk felt oddly left out.
Only his rival and peer among the new hires had been offered a scout.
The feeling was bittersweet.
‘I’m just as capable as him. I’m confident I can prove myself and earn a spot. So why didn’t he ask me?’
At that moment, Tae-soo pulled something from inside his jacket.
