Third-Generation Chaebol

Chapter 50: CH50



Vice President Woo Sung-il couldn't help but admire his own networking skills.

Getting his hands on classified information about INO-PHONE in just one day—now that was impressive.

Eager to deliver the good news, he grabbed the documents and headed straight to the president's office.

"President Park, I've secured all the relevant documents on INO-PHONE, including its flaws."

"Impressive as always, Vice President. If only our employees could learn from you—so quick and efficient."

President Park Jin-hoon praised him while flipping through the box of documents.

From the basic specs to the applied technology, and even the issues uncovered during development—everything was there.

"What do you think? Will this be useful?"

"Oh, it's very useful. Now, the question is—where should we leak this? Should we hand it over to competitors or the media?"

"Giving it to a competitor would be good in the long run, but if you want immediate impact, the media is the better option."

"We don't need long-term plans. Leak it to the press—immediately."

"I'll get in touch with my trusted journalists."

"You can't visit journalists empty-handed, can you? Take them out for dinner, give them some 'pocket money'—you know the drill. Here, take this."

President Park walked over to a safe in the corner of his office.

Inside, several thick envelopes were stacked neatly.

He pulled out the thickest one and handed it to the Vice President.

"Ah, thank you, sir. I'll make good use of this."

"Honestly, once journalists hear about INO-PHONE's issues, they'll jump on the story without much persuasion. You won't need all of it. Feel free to keep the rest."

"I'll make sure this goes off without a hitch."

With the envelope in hand, the Vice President headed out to meet his contact.

Upon arriving at the Korean fine dining restaurant, he discreetly checked the envelope's contents.

A hundred 100,000-won checks.

Not too little, but not too much either.

He slipped half of them into his own pocket.

For someone in his position, 5 million won wasn't exactly a fortune.

As a high-ranking executive, his salary was already in the hundreds of millions, but he was the kind of man who never turned down easy money.

"Vice President! What an honor! It's been so long—how have you been?"

"Ah, Reporter Park! It's been a while. You've certainly gained more experience since we first met. Back then, you were just a rookie journalist."

"And now, I finally get to walk with my shoulders squared. But of course, I'm nothing compared to you, Vice President. When we first met, were you a department head or a senior manager?"

"I think I was a senior manager at the time. You certainly gave me a hard time back then."

Their connection spanned over a decade.

Though it was more of a troublesome entanglement than a friendship, they had long since figured out how to mutually benefit from one another.

"I doubt you called me here just to catch up. You must have something good for me."

"Of course. But I need someone with discretion."

"Nobody in this industry keeps their mouth tighter than me. Even if I fell into a pool, my mouth would sink first!"

Reporter Park chuckled at his own joke.

The Vice President casually slid a folder across the table.

"I really didn't want to cause trouble, but… If INO-PHONE is released as is, it feels like deceiving customers. I just couldn't ignore my conscience."

"Ah, yes. Vice President Woo—you've always been one of the few executives who truly cares about customers."

Though he was flattering Woo Sung-il, Reporter Park's mind was already piecing things together.

A high-ranking executive like Woo wouldn't bother with whistleblowing—there was no money in it.

Could it be…

He was trying to undermine the heir of Taewoo Group?

After all, if he took the throne, the vice president's seat would be hard to keep.

"My identity must never be revealed."

"Of course. A journalist never exposes their source. If I did that, I'd have to quit journalism immediately."

"But how can we make sure this gets the best coverage?"

"If this information is true, it's front-page material. They claimed the battery lasts 100 hours, but in reality, it doesn't even last 20 hours?"

"And with such a bold design, the defect rate is incredibly high."

"Then that means most of what Steve said at the expo was a lie. If this gets published in Korea, it'll cause a stir in the U.S. and Europe as well. But this is big enough to affect Taewoo Electronics' stock price—are you sure about this?"

"I know nothing about it."

Vice President Woo was already denying everything, anticipating the storm that would follow.

He knew the moment the article was published, all hell would break loose.

"I'll try to get it on the front page by tomorrow—the day after at the latest. But if Taewoo Group interferes, there's nothing I can do. You know how it is—media companies survive on advertising."

"I can't control what the group does, but isn't that a good thing for you? If they try to suppress the article, you can just negotiate a higher price for silence. And besides, I've prepared something extra for you."

Woo discreetly slipped an envelope with 5 million won into Reporter Park's pocket.

The journalist subtly ran his fingers over the contents.

Crisp, thick, and smooth—not cash, but cashier's checks.

He immediately gave a thumbs-up.

"I'll push this no matter what. And if Taewoo Group tries to buy me off, I'll handle the situation strategically."

"That's why I like working with you, Reporter Park."

"Then let's make sure we see each other more often. We work so well together, don't we?"

"I'll arrange a nice drinking party soon."

The two men exchanged sinister smiles.

Completely unaware that their expressions were being recorded by a hidden camera.

***

Captain Kang had secured another victory today.

President Park Jin-hoon and Vice President Woo Sung-il were under 24-hour surveillance by a dedicated team.

Kang's specialists had the skills and technology to gather evidence no matter how private the location.

"Sir, we've captured footage of Vice President Woo handing over the INO-PHONE documents to the journalist. We also have audio recordings of their conversation."*

"I never thought someone who made it to vice president would be so careless. At the very least, I expected him to use an intermediary instead of meeting the journalist directly. What kind of recklessness is this?"

"Back in the military, I saw plenty of people who thought that fewer people knowing meant a lower risk of exposure."

He probably didn't want to entrust his own survival to anyone else.

But if that was the case, he should have covered his tracks better.

Did he really think meeting in a private restaurant would keep him safe?

"We've got Vice President Woo completely cornered now."

"If we move now, we can stop the article before it's published."

"Leave it alone. If we extinguish the fire now, it's just a minor incident. We need to let it burn bigger—enough to charge them with arson."

"Are you sure about this?"

"A smear campaign like this? It'll actually work as free advertising for us."

Of course, an article about product flaws could harm the brand.

But everything in the leaked report was false information—problems that had already been fixed during development.

"But don't we need more evidence to link this back to President Park Jin-hoon?"

"If it were just about President Park, he'd cut Woo Sung-il off without hesitation. But do you really think Woo Sung-il will go down alone?"

"So you're saying… He'll drag Park Jin-hoon down with him?"

"Someone like Woo Sung-il may seem loyal, but he's always ready to betray. With the right push, he'll gladly become the ultimate witness against Park Jin-hoon."

No one wants to take the fall alone.

With the right deal, he might consider it, but…

Could Park Jin-hoon really offer him a better deal than I could?

Not a chance.

I was the only one who could offer him immunity—and the only one who could throw him a lifeline.

At dawn, the Chief Strategy Officer arrived at the mansion, clutching the early edition of the newspaper.

For the first time, I saw him flustered—his usual composure nowhere to be found.

"This is bad. The newspaper's front page is covered with exposés on INO-PHONE's defects.

We're trying to halt the article from the Strategy Office, but it's not easy."*

"Tsk, tsk. Looks like we'll have to raise our advertising budget. How did this happen?"

Grandfather listened to the report in his pajamas, accepting the early edition with a click of his tongue.

"There's no need to raise ad spending. Just let the article be."

"Sir… No, Director—if this article spreads, it won't just hurt INO-PHONE; it will damage Taewoo Group as a whole!"

The Chief of Staff was determined to shut down the article.

To the media, an early edition was a golden opportunity to extract ad money and bribes from politicians and major corporations.

Originally, during the military regime, these editions were created for government censorship.

Now, they were simply used to extort money from businesses.

Isn't it ironic?

The victims had become the perpetrators.

"Everything in this article is false. Either a rival company or an individual leaked fabricated information to the press just to slander us."

"No media outlet would publish such an article without evidence."

"Of course, they must have some documents or a reliable informant to back it up. But that doesn't change the fact that everything in the article is a lie."

"Are you certain?"

"A crisis is just an opportunity in disguise. If we counter this properly, we'll get free advertising without spending a dime. Besides, we've already prepared our rebuttal."

I went upstairs and returned with several documents.

These weren't just ordinary reports—they contained detailed counterarguments meticulously crafted by top analysts at SAVE Investment, each earning billions in annual salary.

"Did you anticipate this happening?"

"I prepared just in case, but I never thought I'd actually need to use it."

"Are you sure about that?"

Grandfather narrowed his gaze, studying me intently.

"There was someone suspicious, so I prepared in advance."

"You didn't orchestrate this yourself, did you?"

"It doesn't matter how it was orchestrated. What matters is—this should never have happened in the first place."

"Things are going to get noisy. Handle this properly—if it gets too loud before launch, it won't just be noise marketing anymore."

"I'll make sure to shut it down immediately."

The product launch was just around the corner.

Stockpiles of INO-PHONE at the Incheon factory were being shipped to the U.S. and Europe.

Across Korea, Taewoo Electronics' retail stores were already stocked—just waiting for the launch date.

If we didn't handle this right,

INO-PHONE would be written off as overhyped junk, vanishing from customers' interest.

"One more thing… Was it really one of our own who orchestrated this?"

"..."

"It was, wasn't it? Was it President Park Jin-hoon?"

"I'll report to you once I have definitive proof."

"Tsk. He should have been satisfied with his position as President. Why such greed…?

Sigh…"

With a heavy sigh, Grandfather retreated to his room.

The Chief of Staff, now somewhat relaxed, spoke up.

"So they really went through with this."

"They care more about their own survival than Taewoo Group. With people like that at the top, no wonder the company never progressed."

"I have no words. But have you prepared a full counter-strategy? Wouldn't it be better to work with the Strategy and Executive Offices on this?"

"Let them handle the media response. I have something else planned."*

"Something else…? What exactly?"

"A large-scale event. We'll simultaneously launch it in Korea, the U.S., and Germany."


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