(Lee Je Hoon)
(Kim Dae Myeong)
(Sung Dong Il)
(Jang Hyun Sung)
(Oh Man Seok)
(Ahn Hyun h*)
(Cha Kang Yoon)
(The Art of Negotiation)
So? How are things going?
Well,
we will sell Sanin Construction.
At how much?
At the current market price,
we could get up to seven billion dollars.
Nonsense.
We should at least get two digits.
Sorry?
Sanin Construction was my first project.
That being said,
it should get its worth.
Sir.
Receiving three billion dollars
more than its market price...
What's wrong?
Can't you do it?
Tell me.
I'll give it a shot.
Sure.
You do that.
I'll see you.
(Episode 2: The Key Man)
What's going on? Are we really being sold?
That's what they're here to do.
Walk proudly with your chin up.
We're not here to do anything bad.
Right.
Attorney Oh, aren't you nervous?
As if.
Hello.
Don't panic.
That punk will soon be leaving.
Tae Soo, don't worry.
I've been in the construction
business for 20 years now.
Exactly.
After what you had to
do to be in that seat?
I'll soon have you join
the board of directors,
and Yoon Joo No will have no standing.
Tae Soo.
Rather than myself being on the board,
I'm more anxious...
to see you lead Sanin.
You brat.
Come in.
What's this?
(CEO Lee Hun Min)
I thought it was one of my people.
I see it's you, Mr. Yoon.
Yes, we're here to talk to you...
about the M and A.
Have a seat.
How much will you sell it for?
That I want to know.
There will be a bidding,
which is why we don't
know the exact amount...
You must have an estimate.
After all, you're an M and A expert.
I'm the CEO here,
so I know how bidding works.
I just...
want to know what you think.
It'll be similar to your estimate.
The price will differ
according to the terms,
and retaining all personnel is one of them.
Because of that,
those looking to expand in constructions...
will put in a bid.
- Really? - Yes.
That's why I'd like you to
clear any misunderstandings...
the employees may have.
What is being said?
- Well... - What'll happen?
What about me?
The executives including you...
have a two-year contract...
in accordance with company bylaws.
Keeping the contracts valid
will also be one of the terms.
That's not what I meant.
My heart...
has suffered a scratch.
Won't you make up for that?
A compensation will
be discussed internally.
A discussion, my foot.
Guarantee a five-year contract as CEO...
and offer me shares. That'll do.
Company shares and a
tenure have never been part...
- of your contract. - That's why...
I'm asking for it now.
That could hinder the process
of selling Sanin Construction.
Well, that's not my concern.
Isn't that right?
I doubt anyone...
knows Sanin Construction
better than you do.
So you know.
This place can't function without me.
Right.
The acquiring company...
will see you as the most valuable asset.
That's why I suggest...
you negotiate in person.
But you're the negotiator.
Show me what you can do.
We work for Sanin Group,
not you, CEO Lee.
You darn punk.
You psycho...
What?
Did you just call me a darn psycho?
You. Say that again.
A darn psycho?
He left out "darn," sir.
You're a funny bunch, aren't you?
You're more like a bunch of th*gs!
A member of my team made a mistake.
You seem to be worked up,
so we'll come find you
another time. Well, then.
What did you call me again? A darn psycho?
As if you could intimidate me!
If you lay off even one of my employees,
we'll have a problem!
Got it?
Mr. Yoon, I'm sorry.
It just came out.
Can you give me a minute? I need to...
Sure, you should...
I need to use the restroom.
Jin Soo.
Our goal...
is to sell Sanin Construction
at the highest price.
To do so, we must increase its value.
What I'm saying...
is that Sanin Construction
isn't our enemy...
but one we must persuade.
The people there know that...
hence the emotional response.
I apologize.
Don't.
To be honest, I found it
hard to hold back myself.
I almost punched the guy.
As if.
It's true.
If it weren't for Jin Soo, I would've...
My punches are more like a reflex.
Where was he sitting
again? Here, right? So...
What was it? Right, you darn punk.
My fist almost shot
out when I heard "punk."
Holding back was t*rture.
Unbelievable.
He was the first to throw an insult.
I'm not the only one who was improper.
I know.
So wouldn't it have been nice...
to have been the only
ones who were insulted?
Since he was disrespectful,
we wouldn't have had to back down.
The employees would've
been on our side as well.
He wouldn't have had a way out.
But thanks to you, this
turned into an ugly fight.
Jin Soo.
Yes, Mr. Yoon.
Keep emotions out of your work.
Treat it like a game...
even though it's not easy.
Yes, Mr. Yoon.
M and A literally means w*r.
They even say we haven't
had any big wars recently...
because of M and A transactions.
If wars are fought with weapons,
M and A transactions
are fought with contracts.
Like emotionless g*ns and swords,
contracts should be without emotion.
Emotions...
will be your demise in this w*r.
Right.
Although, it's not a bad
idea to sulk as well...
if who you're dealing
with is being impossible.
Sorry?
That wasn't deliberate, sir.
But even then, it should
be without emotion.
Emotions only cloud your view.
Tae Soo.
I played hardball like you suggested,
and he couldn't even squeak.
He must've been embarrassed...
because he returned alone to apologize.
You should've gone easy on him.
I went easy on him,
but he wet himself.
See? What did I tell you?
With tunnel vision,
information is distorted as you receive it.
That was unexpected from CEO Lee.
He yelled not to fire us earlier.
I know.
We always called him a bullhead,
but I guess that has its perks.
Even if you win people over emotionally,
you won't gain their trust.
Then, in any way, that negotiation
will leave some kind of side effect.
So before you sit to negotiate,
leave your emotions behind.
Mr. Kim, did I mention this?
Yes?
The eco-friendly products by Bareun Life.
I'm not too fond of them.
You must have time left on your hands...
to be concerning yourself with Bareun Life.
I was speaking for the chairman, not me.
What?
I was only trying to relay
the chairman's thoughts.
I apologize if I offended you in any way.
Did the chairman say Bareun Life...
should cut back on products?
That's not what he meant.
You probably know about
the hit list going around.
Yes.
It's good.
Come in.
Hello.
I'm CEO Lee Hun Min of Sanin Construction.
- CEO Lee, come on in. - It's all right.
I'm here with my boys,
and I only dropped by to greet you.
- Is that so? - Yes.
They were walking
around like dead people...
when they thought Yoon Joo No...
was going to sell us off.
Thanks to you reassuring us, Director Ha,
we're out here enjoying our team lunch.
This will be our treat.
- Please enjoy your meal. - Sure.
Right.
CEO Kim, you must be close
to other subsidiary CEOs.
I am.
I'd love to treat you all to a meal.
Are you gathering us for a specific reason?
Not really.
As you know, the chairman
is on the older side now.
I should now look out for him.
Yes, of course.
The chairman is at that age.
Please allow me to join
you when you meet with him.
I'd love to treat him to a meal.
This isn't some book club.
Tell me what you want to say,
and I'll relay the message.
Then,
we'll cut back on our
eco-friendly products.
You do that.
Exhale.
That's it. Good.
Dr. Park is here.
Right.
Again.
You are to come in.
Right.
Goodness. I didn't expect
you to be here in person today.
You're such a busy man...
that I haven't seen you in a while.
Right. Have a seat.
I almost had a heart attack...
thinking you were here to say I was dying.
Hardly, sir.
You only need a flu shot.
And this.
Nothing's up, right?
- Have you been taking your meds? - Yes.
Then a bit of exercise...
will keep you healthier
than those under you.
That's creepy to hear.
Goodness me. She still looks so young.
Is she also a doctor?
Yes.
She's actually my daughter.
Really?
You did a good job raising her.
I don't know about anything else,
but my daughter is better
than me at giving shots.
She skipped a year in high school...
and is in her last year as an intern.
All at 24.
Is that so?
Give me a painless shot, then.
Right.
Sure. Let me hold that for you.
There.
Good.
What's your date of birth?
Here.
(Jungang Finance)
Write down your name and date of birth.
Yes, sir.
Hold on.
Write it in Chinese characters.
My apologies, sir.
Kids these days are
fluent in English but...
Right.
Same for my children too.
(Park Eun Chae)
Here you go.
Park Eun Chae.
There seems to be
something pleasant about you.
They say we are how we look.
Jin Soo, choose his best photo.
Leave emotions out of it.
Leave emotions out.
But this is his best shot.
Good morning.
- Morning. - Morning.
Jin Soo, are you done
with the draft for the teaser?
Yes.
It will be hosted...
by Director Kang Sang Bae of Yumin Invest,
and Kwonyeong will
provide legal assistance.
How much is the estimated market price?
It's 6.5 billion dollars.
Seven billion.
I said 6.5 billion dollars.
What about CEO Lee?
You know how he is.
How is he perceived by others?
I doubt it'll be any different.
I chose one of his best photos,
but maybe it needs retouching.
No,
this could work considering
the nature of the business.
Right. There's a reason he was made CEO.
We'll say he takes the initiative.
Sure.
And the fundamental status?
The fundamental status?
Here you go.
- How is it? - It's not too bad.
- However... - But?
The profit rate has dipped recently.
- Why? - They've been taking...
on a new business model...
by purchasing land and
reconstructing old buildings.
However, they're having
trouble managing the risk...
that comes with real estate purchases.
Risk management?
Can you give me an example?
(The residents of Choongryeol
supports the development project.)
They tried to push ahead with
a redevelopment project here,
but it's been put on
hold for several years.
They need consent from at
least 75 percent of the residents.
I guess they're still not there yet.
How much are they short by?
We don't have that information.
Let's ask those at the
construction company.
I feel like we might see some ghosts here.
Oh, sorry about that.
I'm Lee Jung Eum, the vice
president of Sanin Construction.
You must be Mr. Yoon Joo No.
Yes, Mr. Lee.
- Are you here to give us a tour? - Yes.
I'll show you around.
Be careful.
Everything you see...
could collapse at any moment.
I can't believe people still live here.
I'm sorry.
I'm surprised you came here yourself.
Yes.
You could've just sent someone.
Well...
I know this place better
than anyone else. That's why.
Despite the situation,
you're still struggling to
obtain resident consent?
Well, the thing is...
Yes.
It's because I'm not
doing my job well enough.
Anyway,
how much are you short by?
Resident consent.
Out of the 212 households,
fifty-four households haven't consented.
So, you just need one
more household on board?
What?
Well, yes.
But it's hard.
Those who are still here have
chosen to stay and hold out.
So, they don't actually live here.
I mean...
most of them are in no rush,
so it's hard, to tell you the truth.
- "Most of them?" - Pardon?
Oh, yes.
There's one resident who doesn't...
fit into that category.
And that person lives here?
It's that unit at the very end.
An elderly lady lives alone there.
Can we talk to her?
Now?
She's probably not here now.
Hello, ma'am?
Are you inside?
(Late Payment Notice)
Can't we just sell it as it is?
I mean, it will be redeveloped eventually.
Whether this gets revolved or not...
makes a bigger difference than you think.
But she won't change her mind.
I've been trying to convince
her for years but couldn't.
Is there a specific reason
why she's so against it?
Honestly, I'm not sure.
We'll try to persuade her.
Get back safely, then.
Take care, Mr. Lee.
Why isn't Mr. Lee leaving?
The amount the chairman asked for.
It was ten billion dollars, right?
I asked Yumin Invest.
They said it'd be
seven billion at the most.
I must say, the chairman is a greedy man.
It means he doesn't want to sell it.
Yoon Joo No kept saying in front
of everyone that the company...
would go bankrupt if we
didn't sell Construction.
The chairman couldn't interrupt
him and say, "No, don't sell it."
Oh, you're right.
The chairman doesn't want to sell it.
It's the goose that lays the golden egg.
It makes no sense to
sell it in this situation.
Yes, that's one reason.
The chairman started out in construction.
He's been wanting to build apartment
complexes since he was a young man.
That was his dream, you know.
Oh, that's right.
So, Yoon Joo No...
wants to sell the chairman's dream.
- My gosh. - Oh, boy.
An old man can never forget his past.
How could he? That's all he has left.
About Construction too. It
was barely staying afloat.
It only became number one
when I bought Yonga E and C.
Yes, totally.
That's why...
the chairman is so fond of you, sir.
Don't you think someone
would tell Mr. Yoon...
that it's not what the chairman wants?
It's too late.
The moment he said we
should sell Construction,
it was all over for him.
Totally. He doesn't even know
that he's digging his own grave.
He just keeps on digging.
He keeps digging away like this.
Mr. Yoon.
I bet you have no idea
how much I missed you.
I missed you too.
But you know,
ten billion dollars is simply not doable.
I know.
Then why did you tell the chairman...
that it was doable?
When the chairman was
asking such a question,
I couldn't say we couldn't do it.
Besides, we could make it work.
We haven't met before, have we?
No, we haven't.
I'm from Yumin IB, the
book runner of this deal.
I'm Kang Sang Bae.
Oh, I see. The book runner...
In mergers and acquisitions,
it is our job to assess
the companies that...
Forget it. Just think of us...
like your real estate agent when you move.
First off, we've reviewed everything,
and two companies grabbed our attention.
The first one is...
Chamok Construction.
As a construction company,
their specialty is civil engineering.
They recently participated in the
construction of the Nanji Bridge,
and they've expanded
into the Middle East too.
But in the Middle East,
they thought apartment complexes
were the fast-growing market.
Naturally, they tried building
apartment complexes,
but...
it didn't go too well.
Civil engineering and apartment
complexes are very different.
Of course, they're different.
But the company's CEO...
seems very determined.
(Chamok Construction)
(CEO Cha Myung Hwan)
These fools at Sanin.
They must be very desperate now.
How could they think
of selling Construction?
I think the group is
struggling financially now.
Then ask for a big discount.
Sir, we'd have to bid,
and it's too good an opportunity
to pass up. How about...
Yes, sir. I'll see if I
can lower the price.
I'm almost certain that
Chamok will place a bid.
They have to launch an apartment
complex project right away,
so the process will be pretty easy.
Good.
But don't you think the CEO of Chamok...
and the CEO of Sanin
Construction look alike?
I think he looks more like you.
I will sue you,
for real.
Next is Bium D and I.
It's a real estate firm.
It led the development of
Songdo International City,
so the company has a
lot of cash at the moment.
With that, they're thinking,
"Should we get into construction now?"
I think that's their situation now.
Recently,
they tried doing an M and A
deal with a construction company.
Which one?
This is off the record. Ibu Construction.
Why did the deal fall through?
Off the record.
Things got a little too heated
during the negotiation process.
As you know, the
construction industry is a bit...
How should I put this? It's a bit macho.
Many people in Bium studied overseas,
so I think they had a culture clash.
That's why the deal fell through,
so I'm sure Bium still wants
to expand into construction.
And they have money.
We should buy it. Sanin
has a good cash flow...
and a great brand value.
But we can't really use their brand.
If we change the company name,
the brand value will be affected.
But if we want to participate
in the Yongsan Project,
we need a construction company.
But what's the CEO of
Sanin Construction like?
Most construction companies are similar.
That's why I hate construction.
But we should do this.
Yes, we should.
(Name: Ji Yeon U)
This one looks good too.
Then what are our risks?
Sanin Construction's risks.
As you probably know already,
the biggest one is the redevelopment
of Choongryeol Apartments.
The truth is, it's kind of
tricky to calculate this risk,
but the company has already spent...
They've spent 880 million dollars so far.
Even just from the pictures,
it looks so dangerous.
Can you find out if there's a
way to move ahead with it...
without the residents' consent?
Yes, I'll look into it.
The biggest challenge in
redevelopment projects...
is obtaining residents' consent.
We need an elderly lady who
lives there to sign the consent form.
I have no idea what her story is.
I'll meet her and talk to her.
(M and A Team)
Can you take this off?
- The elevator is here. - Pardon?
Okay.
Sure, I'll take it off.
You should get going.
All right.
(M and A Team)
Right.
For a sign for the M and A Team,
this looks too shabby.
(M and A Team)
"A good negotiator may not
be emotional but is sensible."
Well done.
Thank you for the great game.
When did you get here?
You should've told me.
This is your favorite time of day.
I shouldn't interfere.
You haven't eaten yet,
have you? Give me a minute.
Okay.
I learned a lot from you today.
My goodness. You learned from me?
I learned a lot from you.
One more soju, please.
The chairman said to
sell it for ten billion dollars.
Does it mean he doesn't want to sell it?
Or...
could there be another
reason? I'm just curious.
Well...
What do you think?
I'm not sure.
I just think...
selling Construction would be
the most sensible thing to do.
Of course, you'd say that.
Then you didn't come to see me...
because you wanted to know what
the chairman was really thinking.
Hello.
We're ready to order.
Please convince the chairman.
So, you think Sanin Construction
is worth seven billion dollars?
Yes.
I believe it'll be valued
at around 6.5 billion,
but I think I can up it to seven billion.
I will try to convince him.
But he said "two digits"
in front of everyone,
so seven billion won't cut it.
Right.
But I don't think he was
saying he wouldn't sell it.
You see, he started out as
a construction site manager,
so he's very attached to that company.
He knows that keeping Construction
would put the group in jeopardy,
but the idea of selling it makes him sad.
So, he wants to hold onto the
card that he could use to reverse it.
Because he knows no one
would buy it for ten billion dollars.
Exactly.
I'm not trying to pressure you,
but he wants to look
at the price and decide.
Is he...
just attached to Sanin Construction?
Or the construction industry itself?
To earn money through hard
physical work that makes you sweat.
I thought you went to visit the cemetery.
Were you out collecting cardboard?
They look heavy. How
did you carry them here?
It'd be much easier if
there were an elevator here.
I never said I wanted an elevator.
Pardon?
If you're here to talk about
the redevelopment, leave now!
And don't come back!
No, that's not why I'm here.
My goodness!
What are you doing?
- I'm really sorry.
- These are so valuable.
You punk. You're just like those
th*gs they hired to kick us out!
Hey, leave it!
- Go. Leave! - But...
You must've been flustered.
She rarely gets angry like that.
- It was my fault.
- No, please don't worry.
Did you also come here to convince her?
Yes.
Is she getting ready for
a memorial ceremony?
That's what those bowls were for.
Were they?
Hey!
Hey, you.
We should've gotten something nicer.
Nothing tastes better than this in Sejong.
- Hey, I hear Mr. Yoon is back. - Yes.
About apartment redevelopment projects.
I hear they're launching...
a fast-track procedure to allow them
to proceed without resident consent.
Is it true?
No comment.
Have you no conscience?
Did you buy me a sandwich to ask me this?
"No comment?" That means it's true.
Can't they do it sooner if
they're going to do it anyway?
This place looked so dangerous.
(Choongryeol Apartments)
This place?
This project...
It'll be taken care of soon.
It does look dangerous.
Yes, no joke!
Should I submit the paperwork
for a reassessment right away?
Look at you. You were quite
smart when you were a prosecutor.
You're acting like a fool
now that you're an attorney.
The government wants to relax
the redevelopment regulations now.
Why do you think they're doing that?
"We will increase the supply of
housing through redevelopment..."
"to bring down housing
prices." That's what they're doing.
Increasing the supply.
Who doesn't know that?
Right. If the government
relaxes such regulations,
it must produce some results.
But they haven't even passed the bill yet.
You think a mere civil
servant can do this before that?
Right, so you can't help me before that.
The redevelopment should
take place after they pass the bill...
for it to count as its result.
That's right, you fool.
I knew all about it too.
Then why did you come here?
To have a sandwich.
- Stop. - What?
I said, stop.
- You fool. - Stop!
Seriously...
(M and A Team)
Hello.
(Sanin)
(Sanitization and Disinfection)
(M and A Team)
- Hey. - It's me.
The boys are working now.
You can just take care of it.
Why did you call me?
The thing is...
Is this really okay?
- Hurry up, Dad. - Go ahead and eat.
Let's dig in.
Hey, you need to take action
and show them you won't sit idly by.
Only then will he get scared
and hand over something.
It's not like someone will
help you if you sit idly by.
You're right.
But he won't report me for this, right?
Hey, whatever you do,
he can't report you, ever.
Trust me.
The call cannot be connected.
You'll be connected to voicemail.
(Choongryeol Apartments
Purchase and Sales Contract)
"Born in 1942."
"Choi Kwang Pil?"
Hi. Good...
Didn't I tell you to take this down?
What?
I thought you meant
it looked out of style...
and had it replaced.
Is that what I said?
Replace it as it looked out of style?
If you need clarification
on something, ask.
Don't make a call based
on your assumptions.
My apologies. I'll take it down right away.
Good morning.
Good morning.
It was by the construction company, right?
I'll report them right away.
Jin Soo. You want to
report Sanin Construction?
Then who'll make the bid?
Let's go make the bid for now.
Welcome.
Take a seat.
Is it today?
Yes.
How much can I expect?
The market forecasts...
seven billion dollars.
See that?
Then I won't sell it.
Right.
(Bidding Box)
(Sanin Construction Auction Room)
Which company do you
hope will win the bid, Mr. Yoon?
One who will pay the most.
Chamok must be after it more, no?
Civil engineering alone is lacking...
momentum.
Workers of Sanin
Construction will find it easy...
to adjust to Chamok.
That's the best scenario.
Is it fun?
This?
Yes.
Good grief. We're expecting a guest today,
but Jin Soo looks extremely gloomy.
Oh, I'm sorry.
How about we have him on guard duty?
Shall we?
"Guard duty?"
Jin Soo.
Have some coffee at the
coffee shop in the lobby.
(Bium D and I)
Ms. Kwak. People from
Bium D and I are here.
The CEO herself is here...
at the coffee shop.
I see. Chamok hasn't arrived yet, right?
No.
Keep drinking your coffee.
What?
Okay.
(Chamok Construction CFO Introduction)
Hi.
You're from Sanin, yes?
What? Well...
No, I'm not.
We've done our research as well.
Billions of dollars are on the line.
Memorizing the M and
A Team's faces is a must.
I see.
We're in your care.
No, we...
Our team manager wishes
Chamok would take over.
Gosh, thank you.
Then how much will it be?
Sorry?
There's not much time left.
Just be frank with us.
How much do you predict?
The market evaluated
it for 6.5 billion dollars.
Around eight billion dollars.
Eight...
Come on.
What a crook.
Let's talk man to man.
How much is it?
It's an auction. I can't
disclose something like that.
(Bid Proposal)
(Bid Proposal)
Excuse me first.
I must go and submit this.
All right. Thank you.
The redevelopment
issue is a favorable factor.
Isn't eight billion also possible?
But there's a risk with
Choongryeol Apartments.
It won't be a problem if that settles.
The government is unlikely to approve...
until the bill passes.
I also paid the elderly woman a visit.
But I only got scolded.
The elderly woman must be scary.
That's not it.
I dropped the sacrificial food.
Helping her out got me scolded.
Yes, Jin Soo?
All right.
The CEO of Bium is heading up here.
What a relief.
I'm leaving for the day first.
Is it Team Manager Yoon Joo No?
Hi. You must be CEO Ji Yeon U.
Yes.
Sanin Construction is quite popular.
Yes, and it's all thanks to you.
I'd like to buy it...
at a cheap price.
But we must sell it at a high price.
By the way, why are
you selling Construction?
Isn't Construction Sanin's cash flow?
Yes, it is.
It's Sanin's engine.
Exactly.
So why are you selling the profit center?
I'll answer that if you
bid for the highest price...
and win the auction.
We have yet to write the
price on our bid proposal.
Seven billion dollars.
Will that do?
It's not impossible.
Ms. Ji.
I heard you tried to take over
a construction company before.
Yes, but it didn't work out.
Why didn't it back then?
Back then...
I must've written a low price.
What was the difference?
From the price you wanted.
It was quite big. About
one billion dollars.
Wouldn't it be bad for Bium
to lose Sanin Construction?
It's rare for a construction
company to be up for auction.
The government will soon
amend the redevelopment law.
If so,
you might have to consider...
selling Construction.
So,
how much?
Sanin Construction...
is much more valuable than the company...
you couldn't buy.
That's why...
I hope you'll buy it.
Truthfully,
I didn't like the CEO of that company.
What about yours?
Is your CEO likable?
No. He's worse.
- How honest of you. - Yes.
But the company...
will do you good, Ms. Ji.
How so? You said the CEO wasn't nice.
If you take over,
my job will go as far as
transforming the company...
to your liking.
And so, we ask that you factor that...
into the price.
(Bid Proposal, 7.5 billion dollars)
Wait.
Bid with this one.
How did you know?
On the documents, the contract
is under the grandfather's name.
But he has passed away.
But the two weren't legally married,
which I found strange.
Legally, the grandmother
has no rights to it.
I doubt you didn't know about it.
My apologies.
When we first met,
you visited his grave. Yes?
Yes.
How did you know that?
There was dirt on your shoes.
Was that all it took to notice that?
You already knew the
grandmother wouldn't be at her place.
Did the grandmother oppose
the redevelopment to protect...
the grandfather's grave?
Yes.
When Grandfather was alive,
Grandmother wanted to move.
But Grandfather was against it.
Opposition rallies...
led to physical confrontations.
That was how Grandfather passed away.
Were you there when it happened?
I was.
Did the physical altercations
escalate to the point of fatalities?
You see...
The stories vary.
But Grandfather was already poor in health.
Hence why...
no compensation was given.
I see.
Apparently, Grandfather was against...
the redevelopment...
as he wanted to receive a great
sum of money for Grandmother.
- But... - You found out...
the two weren't legally married.
Correct.
And you didn't report it.
If I do,
Grandmother would be kicked out.
They're legally strangers.
When Grandmother passes away,
will she want to be rested next to him?
Yes.
That's what she says every day.
Shall we wrap it up now?
We seem done.
Okay.
I'm nervous.
I have a hunch. Seven billion dollars.
Come on.
Chamok?
Yes.
(Bid Proposal, 6.9 billion dollars)
- How much? - It's six...
point nine billion dollars.
That is still a great price.
It's...
a little bit short.
Bium D and I...
What? What is it?
Is it really seven billion dollars?
Seven...
point 9,999 billion dollars.
Please excuse me.
Yes, Min Jeong?
Great.
Got it.
Director Lee.
It's a little over 7.9 billion dollars.
Good job.
It'd be great if the chairman
learned how to play go.
For two months, Bium
has the exclusive right...
to request data from us.
We must provide the requested data,
and if there are no notable issues with it,
Bium must pay 7.999 billion dollars...
under the contract.
What if there's a notable issue?
- Can they cut the price? - Yes.
If both parties have a compelling reason,
the price can change.
(Sanin)
You will now answer all my questions, yes?
I won't lie.
Okay.
How old are you, Mr. Yoon?
That is not relevant to the contract.
That until the very end?
We'd like a board meeting first.
Let's do that.
(Sanin Construction)
Sanin Construction.
How do you see the future of it?
It’s the best.
Apartment brands are
like a social class in Korea.
Sanin Construction is at the top.
No matter how bad the recession
gets, luxury items sell better.
Likewise, Sanin Construction
will continue to do well.
I can assure you of it.
But once we take over, we
won't use the name Sanin.
Won't that depreciate the brand value?
What?
I made Sanin Construction number one.
I have confidence in Bium too.
I see.
(No insight)
There isn't much land left
in Seoul to build apartments.
And the population is
decreasing in the provinces.
What's your opinion on this?
Haven't you heard of reconstruction?
To proceed with reconstructions...
You don't have to
disclose such information.
Redevelopment details
are quite confidential.
I see.
But we'll soon find out, won't we?
Yes.
By the way, you've gotten much stronger.
What?
Is that so?
But I don't think so.
But we didn't take a single
break coming up here.
Come sit.
You're right.
- Gosh. - Good grief.
If you've caught your breath,
tell me what it's about.
What?
You asked to go hiking
together for the first time.
That means you've got something to tell me.
You see...
Sell Sanin Construction?
Yes.
I...
started off with building apartments.
Back then,
I worked my butt off.
But thinking of selling it...
makes me wonder what I've done wrong.
Goodness. I can't get a wink of sleep.
You didn't do anything
wrong, Chairman Song.
How much did they bid for?
One hundred thousand...
short of eight billion dollars.
Ask for more.
Even if it can't go over ten,
it should be over nine billion dollars.
We'll tell them to keep
trying until the last moment.
Yes.
Get them to pay more.
Hello.
I'm Lee Hun Min, the
CEO of Sanin Construction.
I see.
What brings you here?
We'll be seeing each
other a lot from now on.
I've come to introduce myself...
in anticipation of our future partnership.
This is one of the projects
from Sanin Construction...
You've reached the M
and A Team of Sanin Group.
Yes, Mr. CFO.
I see.
Okay.
Yes. I understand. Then...
as for the deadline,
I'll call you back after
I report it to Mr. Yoon.
Bye.
That was CFO of Bium D and I on the phone.
He wants to learn about
future redevelopment projects.
We already handed over the files.
Right. But he wants more
information about them.
So he requested a meeting.
This has to do with
Choongryeol Apartments, right?
I'm not sure.
Mr. Yoon.
We have a bit of a problem.
The contract looks precise.
And so is your reputation,
Mr. Yoon. I know we can trust you.
But...
we do have some concerns.
Sure. What are your concerns?
We're concerned about the
progress of redevelopment projects.
Redevelopment projects have a
complicated approval process...
and usually take a long time.
We know that better than anyone.
We're in real estate.
Right.
There are attempts from the government,
trying to ease redevelopment regulations.
There are attempts,
but it hasn't happened yet.
Right. But it will happen.
Can you guarantee it?
A 100-percent guarantee?
Not 100 percent.
For Sanin Construction,
the redevelopment project...
of Choongryeol Apartments
is the hardest case.
That's why I wanted this meeting.
On paper, it seemed the
project could launch anytime.
But it might not have
been the case in real life.
It will be difficult to
start immediately...
as there's an issue with
the consent of residents.
That is why we believe it
is more realistic to wait...
until the regulations are eased.
Then...
give us a discount.
We have to take the
risk that the government...
may not ease the regulations.
How much are you thinking?
We're thinking 440 million dollars.
And interest will be added to that.
That is too much.
What's the amount that's
already been ex*cuted?
It's 880 million dollars.
The chance of the redevelopment
project getting approved...
is 50-50?
It's much higher than 50 percent.
Half of 880 million dollars
is 440 million dollars.
If we add 20 percent of that
for the risk we have to take...
How much is that?
It's 528 million dollars.
Then will the final price be
around 7.4 billion dollars?
I mean, the purchase price.
It's 7.4719 billion dollars, to be precise.
So you evaluated the price of the risk...
as 528 million dollars, correct?
Yes.
I see. I understand.
That was easy.
Then I'll understand that you
agreed to reducing the price...
by 530 million dollars...
and get going.
Ms. Ji.
What if we were to eliminate this risk?
Will you pay an additional
530 million dollars?
No.
The redevelopment project
getting approved was the default.
But we don't know when that will happen,
so I asked to lower the price.
Then you agree that the
project will be approved...
at some point, correct?
Yes,
I do.
The problem is that we don't
know when it will happen.
I am simply stating that
Sanin should bear the interest...
on the expenses already incurred,
the costs for the relevant personnel,
and the cost of uncertainty...
regarding government regulations.
I see. I understand now.
So the risk isn't about the
project not going through.
The problem is how fast
the project will be approved.
Is that correct?
Yes. That's correct.
But will clarifying that change anything?
Why are you smiling at me?
A professional agency...
will make it look exactly like this photo.
Right here.
This is...
your husband's hometown, isn't it?
It is.
That's where we met too.
I know that.
That's how we found this place.
As you can see in the photo,
there's enough space. Later...
Once I'm gone,
can I be buried next to him?
I'll see to it myself...
Ma'am.
You trust me, don't you?
You want me to trust you again?
If we were to get the project...
approved before the
acquisition is finalized,
will you recognize our performance
worthy of 530 million dollars...
which you deemed the price of the risk?
That was already included...
I will...
recognize it as so.
But by when will you get the approval?
I plan to finish my due diligence by today.
By today.
We now have consent from
75 percent of the residents.
Then did you get me
to agree to this deal...
after getting their consent?
No.
We got the last consent form just now.
The vice president tried his best.
Mr. Yoon.
You're not going to make us
pay the whole amount, right?
The entire 528 million dollars.
It was 530 million dollars.
I'm investing my own money
to acquire the company.
But aren't you just an employee?
Why are you making it tough on me?
I have to save our company.
Ms. Ji.
You asked me why we were selling
Sanin Construction the other day.
Yes. I did. And?
I believe we must sell...
the best bit for Sanin Group to survive.
That is why...
you're walking away with the best part.
So...
will you make us pay the entire amount?
Could I talk to Ms. Ji
in private for a moment?
He's been trying.
But it seems he can't get
it up to nine billion dollars.
So it's at 8.5 billion dollars?
Yes.
I guess that's the figure
they're trying to finalize.
I see.
You know,
Sanin Construction was our first baby.
I hope our first baby has
a good future with them.
Right?
Mr. Yoon.
You won't make us pay
8.5299 billion dollars,
will you?
Buy a burial lot, and we'll give
you a 29.9-million-dollar discount.
It will work in your favor as well.
What do you mean?
A burial lot?
Bium D and I acquired Sanin Construction.
It was the biggest acquisition of the year.
Through this acquisition, Bium D and I...
plans to dive into apartment
construction with full force.
We also have one more
story about Bium D and I.
Yes, it's a touching story.
The redevelopment project
managed by Sanin Construction...
hit a wall.
Bium D and I sorted it out
while acquiring the company.
What was the problem?
There was a grave on the
hill behind the apartment.
The resident was an old lady.
It was her husband's grave.
It was ill*gal, wasn't it?
Yes. They weren't legally married.
Her right in the redevelopment project...
could have been revoked too.
The land belonged to Sanin Construction.
It now belongs to Bium D and I.
Then what happened?
However, Bium D and I...
moved her husband's grave to his hometown.
They also acknowledged her
right in the redevelopment project.
That's how their project moved forward.
Mergers and acquisitions are
known as wars without weapons.
That's a heartwarming
story from a b*ttlefield.
Yes. It's my first time encountering...
such a touching story while
presenting news on economy.
Let's watch an interview
with the CEO of Bium D and I.
The motto of our company, Bium D and I,
is to create a place for people...
where they can be happy,
rather than just building fancy apartments.
(CEO Ji Yeon U)
We will strive to become...
a construction company...
that builds shelters for people...
and leads our housing
environment into a better future.
I haven't been here in ages.
Now, it brings back old memories.
Be a bit more patient.
I'll be there soon.
You know what?
To get you a nice spot like this,
I had to go through a lot.
So when we meet again,
you'd better adore me.
Thank you.
We thank you for joining us to celebrate...
the closing of the acquisition...
between Sanin Construction
and Bium D and I.
I'm especially curious to hear...
from Senior Managing Director Ha Tae Soo...
as he put so much
effort into this contract.
Let's welcome him with a round of applause.
(Deal Closing Ceremony:
Sanin Group and Bium D and I)
Thank you.
Up until now, Sanin
Construction has been...
the best construction company in Korea.
Now, I have no doubt that it
will be the best in the world.
And...
Yes. Thank you.
As I had complete faith in that,
I was able to successfully
lead this acquisition.
- He was against it. - Right.
Someone else made a huge
contribution to the acquisition.
But I shamelessly gave my speech first.
I'm not usually this shameless.
Mr. Yoon.
Let's give a big round of
applause to welcome her.
CEO Ji Yeon U of Bium D and I.
Let's give it up for her.
(Location: Sanin Hotel and Resort)
I don't have a long speech prepared.
Thank you for selling us a great company.
We'll work hard to grow
it into a better company.
Please give her a round of applause.
Thank you.
- Let's enjoy some refreshments...
- This isn't right.
- As you freely mingle...
- He did all the work.
- Around the room.
- What's that expression?
- You know what I mean, right?
- Please enjoy...
- your time.
- Let's just enjoy some good food.
Okay.
Mr. Yoon.
I believe you're incredible.
And the extra 500
million dollars in the end...
How did you manage that?
I was lucky.
Sorry?
I thought you just played smart.
Negotiation doesn't go well
just because you're smart.
It's luck.
There's my torturer.
Congratulations, Ms. Ji.
Best of luck to your venture
with the apartment construction.
Thanks.
If you decide to leave Sanin Group,
join us.
We'll see.
Mr. Lee.
I should introduce you to the
CEO of my construction company.
Right here.
Hello, Mr. Yoon.
Hello.
So you're the CEO now.
I heard you recommended me.
I did?
It's the chairman.
Hey.
My gosh. Nice to meet you.
- Hello. - Yes.
Sanin Construction...
was the one I cherished the most.
Please take good care of it.
Yes, sir.
I'll grow it the best I can too.
Good luck.
- I'll let you guys talk. - Okay.
Hey.
All right then.
Good work.
Please don't mention it.
I heard you were quite
attached to Sanin Construction.
Right. That's why I told him...
we needed to get at
least ten billion dollars.
But good grief.
Director Lee kept on
pushing me to take the deal.
I see.
Thank you for approving the acquisition.
Sure.
Then is this all?
We need more money.
Well, that can't be much. Right?
It's about 2.5 billion dollars.
Then...
what else...
are you going to sell?
This time,
I'll buy.
Look.
You sold off Sanin Construction.
Now,
you want to buy something else?
Yes.
I will.
Mr. Yoon will buy this time.
- Which company? - A gaming company.
A gaming company?
That will be fun at least, right?
Yes. Totally.
Jin Soo.
Eat a lot.
No. I wasn't much help.
You did well. You did a
nice job standing guard.
Right.
I was lucky.
What?
Working hard doesn't
mean it will get me results.
It was luck.
What's he talking about?
My goodness. So I heard
you scored a big one.
Yes, I closed the deal today.
That's impressive.
Did you really sell it
for 8.5 billion dollars?
I hear things are going
well for Samoel Fund too.
Gosh, we mostly make
profits for other people.
Actually,
there was something I
wanted to discuss in person.
About what?
Yoon Joo No.
I see.
Let's talk more in person.
What favor?
Jumbo Pharmaceuticals.
That's...
Just forget about it.
Isn't that what the deceased wanted?
Let's put it behind us and move on.
I want to,
but I'm struggling with it.
What do you need?
A strategy.
(The Art of Negotiation)
Director Lee wanted to
do this a long time ago.
Isn't it too late?
This is the right time and the last window.
You think the distribution
sector is a joke?
You want to make Delivery King a reality?
My gosh, that's hilarious.
It will be a revolution
of the distribution sector.
If we make a platform with it, I
have to shut down the game, right?
I won't sell it to you.
This will be the end of Yoon Joo No.
Did you share this?
Yes.
I hope it doesn't fail like it did before.
Ten million dollars.
Do Han Chul and Yoon
Joo No are both con artists.
We should take it this time.
So this was Yoon Joo No's idea?
He'd do anything to get what he wants.
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01x02 - Episode 2
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The series depicts the exploits of a major corporation's M&A expert, known as a legendary negotiator, and his team.
The series depicts the exploits of a major corporation's M&A expert, known as a legendary negotiator, and his team.