71.
#Affiliate General Meeting
A general meeting of Haedo Group affiliates was held. Recently, a notice about the Saudi Arabia project had been sent to the entire group. The content was to come up with ways for each affiliate to participate in this government-led project.
Unless they had prepared in advance, the sudden official document was only confusing. Most affiliates had no choice but to attend with merely formal materials. Rarely, Haedo Trading, which Jeong Seo-in was in charge of, had prepared a proper presentation.
“Jeong really put her teeth into this one.”
“Indeed. If this goes well, it could shake up the succession structure.”
Her presentation was noticeably well-prepared, to the point where other affiliate presidents were whispering about it. The content was about raising awareness of Haedo Trading’s fashion brands along with department stores and large marts to be established in the new Saudi Arabian city. The Chairman was very pleased that it wasn’t just a one-time thing, but could lead to long-term business in Saudi Arabia.
“It’s disappointing to be satisfied with just department stores and large marts,” Hayun interjected while everyone was admiring.
“What do you mean ‘just’?”
Jeong Seo-in frowned and sharpened her tone.
“You seem to lack experience, but logistics is the foundation of daily life. Whether the economy is good or bad, no one goes without using daily necessities. We’ll establish a base by providing everyday items to low-income groups through large marts, and target high-income groups by bringing in luxury brands through department stores.”
Jeong Seo-in recited her prepared speech. Hayun smirked at her words.
“Have you ever been to Saudi Arabia?”
Jeong Seo-in hesitated at the sudden question.
“Well, your approach isn’t bad, but you seem to be seriously mistaken about something. They already have all the large marts they need there, as well as department stores and luxury brands. Do you think it will be easy for Haedo Trading to wedge into that space? Even if you somehow manage to establish a presence, will you have enough appeal to attract the local people?”
People started murmuring, seemingly not having considered this. They had assumed everything would be new since a new city was being built in Saudi Arabia.
Hayun looked around at them and displayed a photo on the presentation screen.
“The photo you’re seeing now is of Riyadh, the capital of Saudi Arabia.”
The senior executives who had only imagined barren deserts when thinking of Saudi Arabia let out small exclamations of admiration. It was a splendid city that could rival Seoul. Hayun pointed at a tall building in the photo with a laser pointer.
“This is the Kingdom Centre Tower, the symbol of Riyadh.”
The image on the screen changed. It showed the interior of what seemed to be a department store, with familiar luxury brands visible.
“The Kingdom Tower already houses hotels, shopping malls, and more. Do you think anything from Haedo Trading would stand out if it were placed here? Or is Haedo Trading planning to create a brand new brand that doesn’t exist in Saudi Arabia?”
Hayun pointed out how unrealistic Jeong Seo-in’s proposal was. Jeong Seo-in’s face contorted, but she couldn’t find words to refute.
“Monopolize the logistics sector in the new city? Yes, it sounds easy. But they already have familiar companies for that. We’re starting at a disadvantage in terms of recognition. The solution to win this battle? What differentiating factor could help us win the competition?”
Hayun looked at Jeong Seo-in as she asked. When no immediate answer came, a smile crept onto Hayun’s face as if she had expected it.
“I guess you didn’t research who currently handles logistics in Saudi Arabia.”
Jeong Seo-in glared at Hayun, who spoke as if she had known this would happen.
“I suppose you have some brilliant idea, then?”
Hayun’s smile didn’t waver at her sarcastic remark.
At Hayun’s signal, Director Park changed the presentation screen. Now it showed a barren landscape with nothing on it.
“This is about 90 kilometers northwest of Riyadh. Despite being just 90 kilometers away, it’s completely different from Riyadh. The new city that Saudi Arabia wants to develop is in a place like this photo, where there’s nothing.”
Everyone knew this fact. Jeong Seo-in looked back and forth between the photo in the presentation and Hayun with an expression that seemed to ask, “So what?”
“Creating something from nothing means we can fill it entirely with everything from Haedo Group without any restrictions from the beginning.”
“Fill everything with Haedo?”
The Chairman echoed Hayun’s words. In response to his question, the presentation screen changed again. This time, it showed the names of all Haedo Group affiliates.
“From construction to new energy development, chemicals, logistics – the areas where Haedo can operate are more extensive than you might think. We’ll use all of that to fill Saudi Arabia’s new city with the ‘Haedo’ concept from the start. Of course, this will incorporate their traditions reflecting Saudi Arabia’s requirements. We’ll determine a concept that differentiates it from other cities and turn the city itself into a product.”
The screen changed again, showing an image of a virtual city. Hayun explained that she had thoroughly researched everything from current trends in Saudi Arabia to the government’s direction, and presented evidence that it was possible to create a concept city reflecting their demands.
She even suggested ways to collaborate with suitable companies if anything couldn’t be resolved within Haedo Group affiliates during the process of laying city infrastructure, constructing buildings, and filling them. It was much larger in scale and more innovative than Jeong Seo-in’s presentation, and its content was more specific.
Hayun also showed cities where some traditional Saudi Arabian buildings were preserved. These were cities where Saudi Arabian history and roots remained, but they were inconvenient to live in due to their age. While she explained that the new city construction could also complement these surrounding old cities, the affiliate presidents and the Chairman couldn’t take their eyes off the presentation.
It was a perfect victory for Jeong Hayun. Unlike Jeong Seo-in, who only considered the profits of Haedo Trading which she operates, Hayun’s plan involved almost all affiliates of Haedo Group. If Haedo Group could win the Saudi Arabia project, any affiliate could expect profits beyond imagination. So it was obvious which of Jeong Hayun or Jeong Seo-in the affiliate presidents would support.
After the affiliate general meeting, the Chairman called Hayun separately to his office. The plan to shake Hayun’s position using Jeong Seo-in had failed miserably. In fact, it wasn’t an unexpected result. It would have been enough just to give the impression that he might support Jeong Seo-in.
But this time, he couldn’t even convey that nuance. Because Hayun had drawn the goodwill of all affiliate presidents with her own abilities, even the Chairman couldn’t suppress Hayun with pressure.
“It’s your perfect victory.”
Hayun just smiled slightly at the Chairman’s words.
“Did you know in advance that I would move Jeong Seo-in?”
“Yes,” Hayun answered without hesitation.
“Actually, I was disappointed because I thought you would support my aunt more, but you didn’t.”
The Chairman swallowed a bitter smile at Hayun’s relaxed attitude. He had supported Jeong Seo-in. After she visited his office, he gave her additional information about the areas our government wants to focus on in the Saudi Arabia project, and trends across political, economic, and social sectors in Saudi Arabia. It was Jeong Seo-in’s job to compile this information and draw conclusions.
There was certainly a difference in their perspective on business. Despite being given so much information, Jeong Seo-in only focused on the logistics sector she belonged to. That was her limitation.
If this project falls into Jeong Hayun’s hands, it will shake up the landscape within Haedo Group. The presidents of each affiliate will have no choice but to watch Hayun’s every move to gain a better position in the project he leads. Involving all affiliates seemed on the surface to provide equal opportunities to everyone, but in reality, it meant they would all be in the palm of Hayun’s hand.
Was what Jeong Hayun wanted the business rights in Saudi Arabia, or the power to control the entire Haedo Group? The Chairman’s suspicions leaned towards the latter.
Soon this kid will try to devour me. His feelings were complicated by this intuition that came from years of experience. While feeling upset at the thought that he couldn’t yet become a sidelined old man due to his pride, he was also relieved by the perfect business blueprint Hayun was drawing, as he would eventually lead Haedo Group anyway.
However, he still couldn’t tolerate Hayun confronting him directly.
“Don’t you think I could still kick you out?”
At this question posed not as the group’s chairman but as his grandfather, Hayun gave a gentle eye-smile.
“I don’t mind if you do. But then you’d have a hard time proceeding with this Saudi Arabia project.”
