RR 25
[025] A Miraculous Investment Company 1.
“Who?”
“Oh Se-hyun, the Korea representative for PowerShares.”
“Aren’t they the ones who play with money?”
“You could say that.”
Chairman Jin Yang-cheol frowned as he scanned a few pages of the report spread out on his desk.
“Is this guy, Yun-gi’s friend?”
“Yes. They studied together at Cambridge, England.”
In Chairman Jin’s hand was Oh Se-hyun’s personal information.
“Is this guy, perhaps, thinking of something else?”
“No, sir. Yun-gi too… he’s not the type to covet Do-jun’s money.”
“You talk about character when it comes to money? What’s wrong with you? No matter how highly you think of Yun-gi, you’re too lenient.”
He couldn’t possibly be unaware that his son had no greed for money, yet his nature never let go of suspicion.
It was so persistent it was almost absurd.
Lee Hak-jae chuckled and scratched his head.
“Still, isn’t it amazing? I thought he’d just put it in the bank and collect the interest, but he entrusted it to an investment firm?”
“That’s what’s suspicious. Of all people, Yun-gi’s friend?”
Chairman Jin couldn’t shake off the suspicion that this Oh Se-hyun character might be approaching his naive son to pull a scam.
“Hak-jae.”
“Yes.”
“Go meet this friend.”
Lee Hak-jae took the photo of Oh Se-hyun that Chairman Jin held out.
“Understood. I will take measures to ensure no problems arise.”
As Lee Hak-jae bowed his head and left the study, Chairman Jin leaned back in his chair.
“Look at this guy…”
Chairman Jin couldn’t help but smile.
It wasn’t that he didn’t trust his son, Jin Yun-gi. It was just that thorough vigilance never hurt.
Moreover, if that young grandson had thought of the investment, he would be incredibly proud.
That enormous ambition, not satisfied with bank interest. He was so much like himself.
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A Clash of Egos
“This is Lee Hak-jae.”
“I’m well aware of your esteemed name. I’m Oh Se-hyun.”
The two men exchanged business cards and sat in spacious chairs in the hotel lounge.
Oh Se-hyun’s tone was polite, but his demeanor was confident.
Who was Lee Hak-jae?
He was the self-proclaimed second-in-command of the Sunyang Group, wasn’t he? Rumors were rife that even Jin Young-gi, Vice Chairman and Chairman Jin’s eldest son, was respectful towards Lee Hak-jae.
It was rare to see someone who wasn’t intimidated by him in the slightest.
In Oh Se-hyun’s eyes, Lee Hak-jae was merely the head of a snake. No matter how successful he was in Korea, he was on the periphery in the global context. PowerShares was a global empire, wasn’t it? At least he, himself, was the tail of a dragon.
There was no reason for a dragon’s tail to lower its stance to a snake’s head.
“Since you’re a busy man, I’ll get straight to the point.”
“Your business is about Do-jun, isn’t it? I think it’s best you see this first.”
Oh Se-hyun presented two documents.
One was a guardian’s consent form, and the other was a confidentiality clause.
“To avoid misunderstandings, let me tell you in advance. Mr. Jin Yun-gi sought me out first, and Do-jun was the first to demand confidentiality. Therefore, I cannot answer if you ask where Do-jun’s funds are invested.”
Lee Hak-jae was helpless against Oh Se-hyun’s preemptive strike.
There was much to confirm, but he couldn’t question someone who had declared they wouldn’t answer.
Yet, he couldn’t just stand up and leave either. This was a matter of pride.
“Just remember one thing. Don’t get any funny ideas. If you try anything, I’ll… wipe you out.”
Oh Se-hyun’s eyebrow twitched for a brief moment, but his business-hardened mindset didn’t falter. A smile quickly bloomed.
“That’s quite an intimidating request.”
“What?”
“Don’t push so hard. We’re not some neighborhood credit union… We’re not intimidated by the name Sunyang.”
Lee Hak-jae glared at Oh Se-hyun’s now expressionless face and spoke.
“Sunyang might be a corner store in the world, but it’s different in this country. I can put the National Tax Service, Board of Audit and Inspection, and the Special Investigation Division of the Supreme Prosecutors’ Office all on a bus and send them to your company. Remember that.”
“So, even a mongrel dog gets half a meal in its own backyard, huh? I’ll keep that in mind, Chief Secretary.”
Lee Hak-jae’s lips twitched at the mention of Sunyang Group being called a mongrel dog.
“Shall we leave then?”
As Oh Se-hyun stood up from the sofa and extended his hand, Lee Hak-jae lightly shook it.
It seemed Oh Se-hyun, being younger, yielded slightly. As he gave a slight bow, Lee Hak-jae chuckled and left the hotel first.
“Phew— Damn, that was no joke. Why is he so prickly?”
When Lee Hak-jae’s figure disappeared, Oh Se-hyun let out a long breath.
As soon as Lee Hak-jae got into the car waiting at the hotel entrance, he picked up the car phone.
“Chairman. It’s me.”
- Yes, did you meet him?
“I just met him and parted ways. You don’t need to worry.”
- Really?
Chairman Jin’s voice over the receiver brightened.
“Yes. He was firm, you know? He has high pride in himself. He’s definitely not a small-minded person who would covet Do-jun’s money.”
- That’s good. Meet him sometimes and share a soju.
“I was planning to. PowerShares is worth knowing; it won’t be a loss.”
Lee Hak-jae ended the call and leaned back in the comfortable seat.
He felt once again that there were countless talented individuals in the world, like grains of sand.
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Setting Up Miracle Investment Inc.
In August ’89, approximately two million protesters in the Lithuanian, Latvian, and Estonian republics under Soviet rule formed a 600km human chain, known as the ‘Baltic Way,’ connecting their capitals to demand democracy and independence.
In the autumn of the same year, while Korea was enjoying the abundance of Chuseok, the Hungarian government opened its western border, triggering a mass exodus of East German citizens.
This was the signal for the collapse of the Eastern Bloc.
While the world’s attention was focused on the rapidly changing Eastern Europe, I was busy planning my trip to the U.S.
Skipping school wasn’t an issue. Since it was a school attended by children of powerful and wealthy parents in Korea, after the liberalization of overseas travel, skipping classes to go abroad wasn’t frowned upon.
The important thing was the timing of establishing the investment company based in New York, U.S.
My first company, in which I would be the majority shareholder. A corporation with 98% of the shares.
It was a company in which Oh Se-hyun and his colleagues invested 2%, hoping to get early information from Chairman Jin.
With Oh Se-hyun’s assurance that everything would be perfectly finalized by the end of October, I couldn’t delay any longer. There was also someone I absolutely had to meet before ’89 ended.
When I brought up the idea of a trip to the U.S. to my parents, Mother was delighted, but Father looked troubled. This was because he was spending his days frantically setting up the film company.
He was a man who had started working for the first time in his forties. Father, no different from a fresh graduate, was like a young man brimming with excitement and passion.
Even Sang-jun, the rebellious teenager, suddenly turned into a kind and affectionate son when he heard “America.”
On November 3, 1989, when the so-called ‘Industrial Beef Tallow’ incident, the biggest event in the history of the South Korean ramen market, erupted—triggered by an anonymous tip to prosecutors that Samyang Foods, synonymous with ramen, had fried its noodles in industrial beef fat—Oh Se-hyun and our family boarded a first-class flight to New York.
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The First Investment: Michael Dell
“Sister-in-law. Please rest for a while, then go sightseeing and do some shopping with Sang-jun. Do-jun and I have somewhere to go.”
“What’s the matter…?”
“It’s nothing. I invested some of Do-jun’s money in the U.S., and I just want to drop by and check. Do-jun is very interested in this sort of thing, so I’ll take him along for a look.”
As soon as we unpacked in the luxury suite of the New York Plaza Hotel, which offered a panoramic view of the Statue of Liberty, Oh Se-hyun hurried.
Unlike my mother, who looked a little worried, Brother Sang-jun showed no interest at all.
He was just like Father. He showed no interest in money whatsoever. Even when he found out I had over ten billion won, he didn’t envy me; instead, he looked at me with concern.
He worried that I would get caught up in the family’s ugly money squabbles.
“Oh, I’ve prepared a guide. That friend has also arranged a car, so you’ll be comfortable during your stay.”
Leaving the two behind, we left the hotel.
As we hailed a taxi and sped towards Wall Street in Manhattan, I took in the New York scenery outside the window. I would vividly record the changing and developing face of New York in the future.
“The building looks a bit shabby, doesn’t it? I found a cheap one to avoid wasting money on unnecessary things.”
Contrary to his words, to my eyes, it was an incredibly magnificent building.
Well, in Manhattan, which controlled the world’s financial capital, this building would indeed be considered cheap.
We went up to the sixth floor, and on the door where Oh Se-hyun stopped, a small sign hung.
Miracle Investment Inc.
Oh Se-hyun waved his hand, calling it a childish name, but I didn’t back down. Because I was going to show him a true miracle.
The moment I saw the office, a thrill ran through my entire body.
This was my first company.
From here, I would nurture a colossal monster that would swallow the entire Sunyang Group.
When we opened the door, three men in their thirties and one woman greeted Oh Se-hyun.
“James! Wow! Long time no see!”
They called Oh Se-hyun by his English name, showing their delight.
These were fund managers who used to work at PowerShares New York, whom Oh Se-hyun had scouted.
The fact that they left a truly top-tier company to choose a humble beginning meant they weren’t top-class. They might be second-rate, or perhaps even third-rate.
Of course, having been at PowerShares meant they were quite good, but they probably couldn’t deny that they were the ones lagging behind within that firm.
They already knew that I was the grandson of the chairman of Korea’s largest corporation, and they probably considered the 10 billion won (15 million dollars) deposited into this company as Sunyang Group’s slush fund.
True to a new company, as soon as they met, they began an enthusiastic discussion about how they would manage the 15 million dollars and where they would invest it.
Their conversation brought up names of global companies like IBM, Intel, Levi’s, Nike, and 3M, and the sole female fund manager strongly recommended Microsoft.
Apple’s name wasn’t mentioned.
Well, it made sense, as Apple’s stock currently lingered around the 1 dollar mark with no signs of rising.
Oh Se-hyun, who had only been listening to their discussion, calmed their enthusiasm and calmly explained that my money would be re-invested back into Korea, based on information from Chairman Jin of Sunyang, rather than directly invested in American companies.
When Oh Se-hyun finished speaking, the disappointment was clear on the faces of the four managers. They probably hadn’t left PowerShares just to do that much.
I pretended not to understand their conversation, feigning disinterest, trying to gauge their capabilities.
One thing was clear: the men preferred stable investments, while the woman wasn’t afraid of risk. Perhaps the woman was the most talented among them.
As the hour-long free-for-all discussion was nearing its end, I called Oh Se-hyun.
“Uncle. Just a moment.”
“Oh dear, our Do-jun must have been bored. Sorry, I forgot while talking business.”
“It’s okay. But can you take a look at this?”
I took out a memo from my pocket and handed it to Oh Se-hyun.
“What is this?”
“It’s the first place our company will invest.”
“What?!”
A startled Oh Se-hyun snatched the memo and quickly unfolded it.
The four managers, seeing Oh Se-hyun’s unusual expression, also gathered around the memo.
After checking the memo, they exclaimed in unison.
“Michael Dell?”
“Michael Dell?”
“Dell? Dell Computer?!”
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