Finally. I have been waiting for The Company's release. <3 This is getting even more interesting day by day.
It feels as if Zahard is yet to take this situation with FUG as something serious. That's my impression, haha~ We're not even sure what princesses of Zahard are doing except aiming towards each other's throat for the weapons.
I don't completely believe what Hwa Ryun said, although I think she's correct that FUG is using Baam for their purpose. And for that they have made large compensation for Baam to do what he wants as long as he does what they want and get to see Rachel again. Jin Sung looks dangerous, despite his carefree look. Intimidating, if I may say.
About your question of the last line, I'm not yet sure what a prince of Zahard will do so I can't say much. For Baam I only want him to get on the top of tower and beat Rachel up for good (if he can, which I doubt). We haven't seen much from Wangnan indeed so maybe it's a bit too early to judge. I'm still expecting quite much from this boy; he couldn't have got that ring without a peculiar destiny to himself. XD
I mentioned above about how I think Zahard takes this all lightly due to all the contracts and such, and probably that is also why Hwa Ryun does so. I wonder if she knows about the ring of Zahard Wangnan has, or who he actually is, thus she's trying to provoke him to do something in accordance to FUG's plan... Otherwise they seem to be just too confident in Baam that spreading this does not mean anything at all.
Interesting idea. It is possible, although that does make me wonder why not the leader of FUG just take over Zahard's throne later, rather than spending time trying to "convert" Wangnan with the probability of failure.
That's actually something someone in deep desperation can do.

At that moment Wangnan just couldn't fail; for his lost friend, for his past, for his sacrifices. He didn't mind join hands with the devil to pay that all. Interesting, but I imagine anyone who is too obsessed with the tower can do that.