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CH275 | GSI
🕑 Added 2025-04-03 03:51:19 +0000 UTCCrash!
“Shit! Shit!”
Blinded by rage, Woo Ho-geun swung a golf club wildly, spewing curses as he smashed everything in his private office.
A computer monitor shattered and crashed onto the floor. Expensive vases, decorative pieces, and glass cabinets were reduced to fragments, scattering across the room.
The deafening sounds of destruction seeped through the walls, but the employees outside, well aware of Woo Ho-geun’s notorious temper, kept their distance, too afraid to intervene.
After a while, once the room was completely wrecked—like a storm had torn through it—Woo Ho-geun finally stopped, panting heavily, with nothing left to break.
Standing quietly in the corner, Manager Oh Sang-hyun watched everything unfold. Leaning on his golf club like a cane, he gazed at the fuming Woo Ho-geun with an expressionless face before speaking.
"Have you calmed down now?"
“Damn it.”
Woo Ho-geun tossed the golf club aside and yanked at his tie, loosening the knot roughly before slumping onto the couch.
“Get Vice President Hurd on the phone. Now.”
“Yes, sir.”
As Oh Sang-hyun pulled his phone from his inner pocket and dialed, Woo Ho-geun clenched his teeth.
"Those bastards stabbed me in the back."
They had broken their promise without so much as a warning—it was a betrayal, plain and simple.
To make matters worse, he had found out about Hong Kong Peregrine Securities’ sudden change of stance during a boardroom meeting with his father, Chairman Woo Yong-gap, and the company executives. He had been utterly humiliated.
'That idiot!'
‘I'll look into it immediately. Just give me a moment—’
‘You told me to leave it to you, and this is what I get?!’
‘F-Father! It’s not what you think—’
‘Shut up!’
His father had been furious, reprimanding him in front of the entire board. The slap had been so hard that a red imprint still lingered on his cheek.
But more than the pain, it was the humiliation that made Woo Ho-geun tremble with rage, struggling to keep his emotions in check.
Just then, Oh Sang-hyun extended the phone toward him.
“He’s on the line.”
Snatching the phone, Woo Ho-geun clenched his fist and took a deep breath—if he didn’t, he’d end up shouting expletives right away.
“I assume you know why I’m calling,” he said through gritted teeth.
[It must be about the additional funding.]
“Was there some kind of mistake? A clerical error in the documents?”
He clung to a sliver of hope, but the response crushed any expectations he had.
[No. As stated in the official notice, we will not be providing any further financial support for this M&A.]
The firm, unwavering reply made Woo Ho-geun tighten his grip on the phone.
"You can't just pull out like this!"
But Vice President Hurd, in contrast to before, now spoke in a cold, detached tone.
[We had verbal discussions, yes, but there was no formal contract. Besides, we’ve already lent a significant sum. We believe we've done enough.]
“What the hell do you mean—?!”
Just as Woo Ho-geun was about to argue, Vice President Hurd cut him off.
[Unlike what was initially promised, Donghae Group failed to execute the plan properly, making the situation more complicated.]
Hearing the blame being shifted onto him, Woo Ho-geun bristled with anger, ready to unleash a string of curses.
However, he was the one in a desperate position. Swallowing his frustration, he forced himself to speak in a calm and composed voice.
“I admit the original plan didn’t go as expected. But if you provide additional funding, we can secure a decisive victory in the upcoming emergency shareholders’ meeting and take over Daeheung Group.”
He made every effort to persuade the other party, but Vice President Hurd remained indifferent.
[Hmm… Even if we provide additional funds, I doubt things will go as planned.]
“What do you mean by that?”
[I mean that Donghae Group won’t be able to swallow up Daeheung.]
Hurd’s firm statement made Woo Ho-geun frown. He quickly tried to reason with him again.
“If this is about the sale of Daeheung Textile’s shares by Mido Department Store, I’ve already prepared an alternative to tighten our hold on the rest of the subsidiaries. There’s no need to worry.”
[…]
There was a brief silence before Hurd spoke again.
[Hearing you say that, it seems Donghae Group still doesn’t understand who they’re up against.]
His tone carried a hint of pity, as if he felt sorry for Woo Ho-geun.
Annoyed, Woo Ho-geun scowled and asked, “What exactly do you mean by that?”
[Have you ever heard of Eldorado Fund?]
The sudden mention of an unfamiliar name made Woo Ho-geun frown.
“I’ve never heard of it.”
Despite having a securities firm under its umbrella, Donghae Group had been solely focused on domestic markets, content with making easy money without paying attention to global finance or Wall Street.
Hurd inwardly clicked his tongue at their ignorance. Attempting a hostile takeover without fully understanding the opponent was laughable.
That being said, even his own firm had been unaware of Eldorado Fund’s involvement with Daeheung Group until Seok-won personally came to see them.
At that moment, Hurd became certain—this M&A was doomed to fail.
‘It was a lost cause from the start.’
There had been some complications along the way, but in the end, stepping away before sinking any deeper had turned out to be the right decision.
Hurd spoke again, his tone more assured.
[It’s a hedge fund that’s been gaining significant attention on Wall Street recently.]
“And what does that have to do with anything?”
A deep crease formed between Woo Ho-geun’s brows as he began to realize something.
“Don’t tell me… Eldorado Fund is backing Daeheung Group?”
[More than that, it would be more accurate to say they were one and the same from the very beginning.]
Woo Ho-geun scowled, clearly not understanding.
“What the hell are you talking about?”
Annoyed by the question, Vice President Hurd responded calmly.
[The representative of Eldorado Fund is Park Seok-won.]
“……!”
The moment he heard that name—one that made his blood boil just thinking about it—Woo Ho-geun froze in place, his phone still pressed to his ear.
Had he misheard? He straightened his posture and urgently asked again.
“Did you just say Park Seok-won?”
[That’s correct. He’s the second son of Chairman Park Tae-hong of Daeheung Group.]
“H-How is that even possible…?”
The revelation hit Woo Ho-geun like a blunt force to the head. He couldn’t believe his own ears, his face filled with sheer disbelief.
“Park Seok-won? That bastard is the head of Eldorado Fund? You must have mistaken him for someone else with the same name.”
But the response that came next only deepened his despair.
[I heard it directly from him. It’s a confirmed fact.]
Woo Ho-geun was so shocked that he couldn’t even close his gaping mouth.
And the bad news didn’t end there.
[We’ll be sending out an official notice later today, but since I have you on the line, I might as well tell you now.]
Hurd continued in his usual impassive tone.
Still unable to shake off his shock, Woo Ho-geun sat frozen, gripping his phone tightly.
[We have sold all the bonds you borrowed from us to Eldorado Fund. If you have any further matters to discuss, take it up with them.]
“W-What? What did you just say?”
Snapped out of his daze, Woo Ho-geun’s mind reeled at the bombshell.
“You’re telling me you handed over the bonds to Eldorado—to that bastard Park Seok-won?”
[That’s correct.]
“No! How could you do that without even consulting us?”
His face flushed red with fury as he shouted in protest.
[Whether we sell or retain the bonds is entirely up to us. There’s not a single clause in our contract requiring us to obtain Donghae Group’s consent before making such a transaction.]
Hurd’s cold, businesslike response cut through Woo Ho-geun’s outrage.
Furious, Woo Ho-geun slammed his fist onto the armrest of the sofa.
“Even so, shouldn’t you have at least given us a heads-up? That’s just common decency!”
His outburst was met with nothing but a scoff from Hurd.
[If we had known Eldorado Fund was backing Daeheung Group from the start, we wouldn’t have gotten involved in this M&A at all. We ended up exposing our entire position and had to liquidate the copper futures we hastily bought, incurring significant losses. But since it was our own mistake for jumping in without fully investigating, we’re choosing to let it go without demanding compensation. Consider yourself lucky.]
Woo Ho-geun’s mind spun even faster. The sudden mention of copper futures only added to his confusion.
[In any case, we’re completely pulling out of this deal, so keep that in mind.]
With Hong Kong’s Peregrine Securities—his main source of funding—now backing out, the M&A with Daeheung Group was as good as dead.
No one understood this better than Woo Ho-geun. Forgetting his anger, he pleaded desperately.
“Please, let’s not do this. If you have any conditions, I’ll do my best to meet them. Just reconsider.”
[…Sigh.]
Hurd let out an exasperated sigh, clearly losing patience.
[It seems you haven’t fully grasped what I’m saying. We see the chances of this M&A succeeding as extremely low. In fact, forget about taking control—just be glad if Eldorado Fund doesn’t end up swallowing you whole.]
At Hurd’s firm declaration, Woo Ho-geun bit down hard on his lower lip.
[But since we were once partners, I’ll give you a piece of advice. If you want to minimize the damage from the storm that’s coming, you should drop this takeover battle now and beg Eldorado Fund’s CEO for forgiveness. If you don’t, not only will you be in trouble, but Donghae Group as a whole will face serious difficulties.]
To kneel before someone he resented so deeply, someone he saw as a direct rival—it was an idea he could never accept.
Of course, Seok-won barely even acknowledged his existence, but that only made it all the more infuriating.
His long-suppressed inferiority complex toward Seok-won erupted, fueling an even stronger sense of defiance. With a hardened expression, Woo Ho-geun spat out his response.
“That will never happen. Even if you pull out, I will continue with the M&A!”
[That’s unfortunate. The outcome is obvious, but it’s your choice. Do as you please.]
Realizing that no amount of pleading would change Hong Kong’s Peregrine Securities’ decision, Woo Ho-geun forced out a dry response.
“You’ll regret this decision.”
[Funny. That’s exactly what I was about to say.]
Hurd replied with a mocking sneer.
Grinding his teeth in frustration, Woo Ho-geun ended the call without another word. But the moment the call was cut off, his rage exploded.
“Goddamn it!”
He swung his arm furiously and hurled his phone onto the floor.
With a loud crunch, the phone shattered upon impact. Watching the scene unfold, Manager Oh Sang-hyun hesitated for a moment before cautiously stepping closer, eyeing Woo Ho-geun, who was breathing heavily in seething anger.
“If Peregrine Securities really pulls out, the entire plan will be in jeopardy. Are you sure about this?”
Leaning back against the sofa, Woo Ho-geun stared at the ceiling, racking his brain for a solution. Then, as if coming to a decision, he lifted his head.
“Contact President Kwon. Tell him I need to meet him urgently.”
“You mean Kwon Seung-seop, the president of Donghae Mutual Credit Union?”
“That’s right.”
A sense of foreboding washed over Oh Sang-hyun as he glanced at Woo Ho-geun with worried eyes.
“But why President Kwon all of a sudden…?”
Irritated, Woo Ho-geun ran a rough hand through his hair before snapping.
“The funds we were expecting from Hong Kong have been cut off. We need to secure money from somewhere else to fill the gap!”
Sensing that Woo Ho-geun was about to cross a dangerous line, Oh Sang-hyun instinctively wanted to stop him.
But the look in Woo Ho-geun’s eyes—filled with rage and desperation—made it clear that he wouldn’t listen to reason.
Realizing that words would be useless at this point, Oh Sang-hyun let out a resigned sigh and answered weakly.
“…Understood.”
Woo Ho-geun’s bloodshot eyes gleamed with determination as he muttered through gritted teeth.
“Park Seok-won, you bastard… You think I’ll back down that easily? Let’s see who wins in the end. I’ll take this to the very last round.”
