RR 19
[019] Too Much for Seed Money 1.
It would be a mistake to see it merely as the compassion of a child. In managing a company, there are far more times when one needs to be ruthlessly cold than when one should show compassion.
“Hmm… Employees? Why them?”
“Because of us, those uncles can’t play. It’s Children’s Day.”
At that moment, I felt Lee Hak-jae’s sharp gaze. And for a moment, he didn’t avert his eyes.
“Those people are just working. Whether it’s Children’s Day or Sunday, they’re doing their respective jobs. And they’ll rest tomorrow instead of working today.”
“That’s only because we’re here. Those people might start hating us now.”
Again, a penetrating gaze.
Did he grasp the hidden meaning of my words?
If they started to dislike us, they would also dislike Sunyang. In the end, we would lose consumers.
I was curious what he would say.
“Do-jun.”
“Yes, Baek-bu-nim.”
“If someone starts to hate you, do as your grandfather does.”
Damn it! My thoughts were off.
“How does Grandfather do it?”
“He turns hatred into fear.”
His words exploded in my head like fireworks.
Damn it, I was still stuck in a servant’s mindset.
To become an owner, to become a chairman, one shouldn’t care about such trivial worries.
Minor issues like productivity improvement, maximizing sales, and customer satisfaction are problems for subordinates to worry about.
A chairman and a manager are different.
A manager fattens the company, but a chaebol chairman doesn’t earn money. A chairman wages war.
A chairman’s job is to make hateful enemies kneel and to protect and expand territory.
In the conquered territory, the servants farm and earn money.
If the Chairman desires it, you must abandon your family and rush out, wagging your tail.
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A Change in Perspective
“There’s a reason he completely captivated the Chairman’s soul.”
Lee Hak-jae stroked my head, and I came to my senses.
I looked up at him, and he greeted me with a bright smile.
“By your expression, it seems you understood what I meant? Are you like an old soul in a child’s body…?”
That’s a relief.
My attempt to flaunt my sharp insight was thwarted, but at least I showed a quick understanding, so it wasn’t a loss.
From now on, I wanted to know more about this man, Lee Hak-jae. But I had to put it off until later because my brother Sang-jun suddenly appeared, grabbing my hand and pulling me.
Children’s Day is exciting for children, but tiring for parents.
I was as tired as a parent and had to spend a day with an added sense of discomfort.
However, the next day, when I saw my own ranch, which I visited with Chairman Jin, all that fatigue and discomfort completely vanished.
Watching the horses freely galloping across the vast green land, I felt a thrill throughout my body.
My own ranch was great, but it came with a big challenge.
From now on, I had to learn horseback riding, as befits a third-generation chaebol heir.
It was scary, damn it.
But by the end of the year, the fear had disappeared, and I had discovered the joy of riding horses.
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A Tumultuous Year: 1988
1988 was truly a remarkable year.
I could fully understand why dramas were even made with this year as their backdrop. It was an eventful year; this phrase perfectly described all 365 days.
The Sixth Republic Constitution began to take effect, and a president elected by direct popular vote was inaugurated.
The Ministry of National Defense reinstated the trainee visitation system at Nonsan Training Center after 29 years, and the 8-year Iran-Iraq War ended.
The Hankyoreh newspaper was founded, and the president announced the July 7th Declaration, which included proposals for inter-Korean exchange and cooperation in improving North American relations.
Cho Yong-pil released his 10th album, and Metallica released their fourth studio album, …And Justice for All.
The Olympics, which elevated national recognition to a global level, were held, and remarkably, a miraculous achievement of 4th place overall was attained.
A “yeoso-yadae” (minority ruling party, majority opposition) National Assembly was formed after 38 years, and the National Assembly audit, revived 16 years after the Yushin era, resumed.
A special committee was established to investigate Fifth Republic corruption, and for the first time in constitutional history, parliamentary hearings were held, televised live.
Famous figures from politics, business, and media attended, creating nationwide excitement comparable to the Olympics. Among the National Assembly members, the person who would later be elected president became a star of the hearings.
Later, in November, former President Chun Doo-hwan and his wife announced a public apology statement and then voluntarily exiled themselves to Baekdamsa Temple in Seoraksan, Gangwon-do.
The exchange rate entered the 600-won range, and the “three lows” boom (low oil prices, low interest rates, low dollar) peaked, but people endlessly flocked to Seoul, causing real estate prices to skyrocket.
The government began housing construction, developing new towns like Mok-dong and Sanggye-dong, but could not curb soaring property prices.
In response, the “2 Million Housing Units Construction Plan” was announced, along with large-scale residential land development in Sanbon, Jung-dong, and Pyeongchon. However, as 1989 dawned, housing prices remained unstable.
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New City Development
“They say they’re rushing the new city development.”
“Don’t get excited. Slowly.”
“Ah, yes. My apologies, Chairman.”
Sunyang Construction CEO Hong Song-cheol, contrary to his words, could barely hide his excitement.
The President’s New Year’s address had the resolution of housing shortages as its main message. Naturally, a plan was already established. Whether that plan was right or wrong would be known later, but for now, it was a plan.
Since there was a plan, execution naturally had to follow, and meetings continued.
Sunyang Construction CEO Hong Song-cheol had attended a meeting chaired by the Deputy Prime Minister for Economic Affairs, the Senior Economic Secretary to the Blue House, and the Minister of Construction, and had immediately rushed to Chairman Jin’s study.
“The rumors were true.”
Secretary Lee Hak-jae, who had arrived earlier and was waiting in the study, also seemed a little excited. It was as if the government was pouring oil on the most active construction sector.
One couldn’t help but anticipate how much bigger Sunyang Construction would become.
“Did they tell you the candidate areas shortlisted for the new cities?”
“Not just candidates, but confirmed areas: Seongnam Bundang District and Ilsan.”
Wetting his mouth with a glass of water, CEO Hong meticulously recounted the details of today’s meeting.
“…It seems it will proceed as a shared pie. In fact, we should assume there will be no special favors.”
“They’ll prevent any single company from monopolizing it?”
“That’s right. And…”
CEO Hong Song-cheol hesitated slightly before continuing.
“They said land purchases in the relevant areas are prohibited…”
“They gave us information beforehand, but told us not to buy land?”
“Yes. They warned that if any speculative activity is found, we’d be removed from the new city project.”
“Isn’t that always what they say? Everyone will just borrow names and hoard land anyway.”
Lee Hak-jae frowned.
“No, sir. From today until the government’s official announcement, all land transactions in those areas will be checked. This time, the atmosphere is a bit different.”
CEO Hong waved his hand widely to convey the atmosphere of the meeting. The government’s will was strong.
“They’ve been torn apart by the housing problem since last year. The President must be sensitive to it, Song-cheol.”
“Yes, Chairman.”
“Form a new city preparation team and prepare thoroughly. And make sure no one engages in land speculation. This time, let’s cooperate with the Blue House.”
“Yes, Chairman.”
At Chairman Jin’s gesture to leave, CEO Hong bowed respectfully and exited the study.
“Chairman. Are you really planning to cooperate? There are plenty of ways to acquire land without it being noticed…”
“Leave it. There’s no need to needlessly displease them for a few petty profits. This new city project is for the President’s close aides. The rewards for this regime’s contributions are over, and they want to let those who didn’t get a position touch some money by blocking corporations. There’s no need to interfere.”
“Ah, is that so?”
“Assemblyman Park subtly let it slip. He said the President is taking special care of it.”
“I see.”
This year is a time to lay low. Rumors in political circles suggest that the situation in Eastern Europe is turning unusually, and diplomatic ties with the Soviet Union are not far off.
Such times of rapid change always present opportunities, and those opportunities are given by the government.
It would be detrimental to be caught even with a minor fault.
“Oh, by the way, just in case, send in the audit team as soon as the preparation team is formed. To make sure no one tries anything funny.”
Chairman Jin casually flipped through the new city development documents CEO Hong had left behind, then paused his hand.
To Chairman Jin, who was frowning and staring at the documents, Lee Hak-jae carefully spoke.
“What’s wrong, sir? Is there a problem…?”
“Ah, no. It just looks familiar somehow.”
Chairman Jin looked at the map in the documents for a while, then picked up the phone.
“That ranch we bought last time… Yes, that one. Check the cadastral map and send it by fax.”
A small smile played on Chairman Jin’s lips as he hung up the phone.
“This… it seems like there’s a money ghost firmly attached to someone in this family…”
“Yes? What do you mean…?”
“Wait and see. Let’s confirm it when the fax arrives.”
Lee Hak-jae could only subtly steal glances at Chairman Jin, who was holding a gentle smile, completely puzzled.
A moment later, Chairman Jin, who had checked the fax and documents brought politely by the housekeeper, finally burst into hearty laughter.
“Good heavens, hahaha. This is truly incredible.”
It was a rare sight.
Lee Hak-jae was dying of curiosity, trying to suppress it as he waited for Chairman Jin’s explanation.
“Ah, you wouldn’t know. You know I built a ranch for our Do-jun, right?”
“Yes. In Gyeonggi Province… Ah, no way! Is it Bundang, by any chance?”
“Yes. Take a look at this.”
Lee Hak-jae hastily compared the fax and the documents, beginning to scrutinize the exact location.
“What do you think? Doesn’t that make you suspect he knew in advance and picked that spot?”
“Do you mean Do-jun picked this location? Not the Chairman?”
“Yes. I told him to pick a place in the southern Gyeonggi region, excluding Seoul, and he picked that spot.”
As Lee Hak-jae carefully examined the map, his mind became a calculator.
“It’s about eighty thousand pyeong.”
“Isn’t that a shame? It would have been great if it were eight hundred thousand pyeong. Hoho.”
Unlike Chairman Jin, who couldn’t stop laughing, Lee Hak-jae had to clarify the parts he still didn’t understand. Before the government’s official announcement, there could not be a single error regarding this land. Erasing those errors was also Lee Hak-jae’s duty.
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