RR 30
[030] You Should Spend Some Money to Learn and Grow 3.
“Only half? What about the rest?”
“When the time comes to use it, I’ll let you know. Perhaps Grandfather will tell me.”
“Ah, I see. There’s still unreleased information. Haha.”
Beneath his hearty laughter, his true self, rapidly calculating, was hidden.
Investing using internal Sunyang Group information. A short-term, lucrative money-making venture. Since the seed money was large, the gains would also be substantial.
Oh Se-hyun left, his eyes sparkling, and I let out a long breath.
It was really hard to make up excuses.
I had no intention whatsoever of making money using Chairman Jin’s information.
Touching Sunyang before becoming an adult was something to be extremely careful about. It would be a foolish act that would only invite unnecessary caution.
Furthermore, I was not a stockbroker and had never even seen Wall Street. My future knowledge was solely based on fragments of newspaper articles.
I only remembered a few instances of when and which companies were good investments, but there was a different, most reliable investment opportunity that would create an undefeated legend over the next 30 years.
That was movies.
I knew most of the immensely profitable films produced in Hollywood.
Right for next year, the box office would be dominated by movies like Ghost, Edward Scissorhands, Home Alone, and Total Recall. Participating in their production was already too late, but I could import them through my father’s film company.
An absolutely infallible film investment company.
With just this, I would be called the Midas Touch in Hollywood.
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The Land Deal and Chairman Jin’s Plans
“Thank you for your time, Chief Lee.”
“No, I wanted to meet you too.”
Lee Hak-jae rushed over without a moment’s hesitation after Oh Se-hyun called for a meeting. He had many questions.
“I felt I had to inform you about this matter concerning Do-jun’s assets.”
“Assets? PowerShares manages Do-jun’s assets, so what are you disposing of?”
“What I’m referring to isn’t money, but land.”
“Land? You mean the Bundang land?”
“Yes. He wants to dispose of it.”
“Why? There’s no need to rush at all!”
Lee Hak-jae’s eyebrow twitched. Oh Se-hyun had enough sense to understand what that expression meant.
“Don’t misunderstand. I didn’t instigate this; it’s Do-jun’s decision. I also tried to dissuade him, saying land prices are still rising, but he’s unyielding.”
“You follow whatever a kid says? You’re not a proper fund manager then. Shouldn’t you be guiding him in the right direction?”
“Chief Lee.”
Oh Se-hyun stared intently into Lee Hak-jae’s still suspicious eyes.
“The final decision, of course, belongs to the money owner. We merely offer our opinions.”
“Look here! Do-jun is only…”
“Only 12 years old? Do you really think so?”
“What?”
“Wouldn’t it be a bit much to see him as just a 12-year-old child? Isn’t he smart enough to outwit most adults?”
Oh Se-hyun shook his hand slightly, seeing Lee Hak-jae’s scowling face.
“This, I didn’t come here to talk about this. If you want to change Do-jun’s mind, do it yourself. If Do-jun changes his mind, he obviously won’t dispose of the land.”
“Then what do you want to talk about?”
“I wanted to see if Sunyang Group has any intention of acquiring that land. What do you think?”
“What?”
“In fact, if I subtly leaked it to brokers, wouldn’t it be land that they’d swarm like bees? But because it was a gift from the chairman, I’d like to return it to Sunyang Group, even if it’s sold for a bit less.”
“Is that Do-jun’s idea too?”
“No. This is my idea. I thought it wouldn’t do for Chairman Jin to be disappointed in Do-jun if it were sold to the wrong place.”
“Let’s put that issue on hold for a moment. I’ll discuss it with the chairman and let you know.”1
Lee Hak-jae put down his teacup and asked the question he had been holding back.2
“By the way, why did you go to Texas?”3
“Oh, how did you know that? You’re amazi4ng.”
“Stop with the pointless talk. Why did you go? Did you buy oil or something?”
“As I already told you, the details are confidential. All I can tell you is that we invested in several companies, and it’s a pretty good investment.”
“This is really, what stubbornness…”
Lee Hak-jae frowned.
“Look, Mr. Oh. Are you doing this to raise your worth?”
“Me? What do you mean?”
“Aren’t you holding Do-jun, who has the chairman’s special attention, hostage, hoping to subtly get your foot into our Sunyang Group when an opportunity arises?”
For a moment, Oh Se-hyun was speechless, his expression blank.
“For foreign investment firms, being kicked out after one mistake is common, so it makes sense to think about holding onto Do-jun tightly as a solid insurance policy. Don’t you agree?”
“Hmm… So that’s how you see it. I see. Sunyang Group looks at people that way. Give people the value they set for themselves, and they’ll become Sunyang’s dogs.”
“You’re thinking wrong. That’s incorrect.”
“Is it? It feels right.”
“Our Sunyang buys at double the price a person sets for themselves. I’ll give you triple. How much? What’s your price…?”
“20 billion won.”
The number, 20 billion won, came out without any hesitation.
Lee Hak-jae swallowed the words that threatened to burst out, with extreme patience.
The swallowed words were “crazy bastard.”
In Korea, if someone claimed 200 apartments as their worth, it was only natural to be called a madman.
“That’s an absurd claim, but let’s hear your basis. Since you handle money, your self-valuation should be accurate.”
“I’d be betraying someone who entrusted me with 10 billion won, so don’t I deserve double to make the betrayal worthwhile?”
Lee Hak-jae let out a short sigh.
He had simply provoked him once and was now treated as a detestable person who valued people in terms of money, rather than getting to the bottom of it.
“This, I didn’t come out to fight… but talking to you strangely makes me lose my temper.”
“Don’t you know why?”
Lee Hak-jae only shrugged his shoulders without answering.
“Because I’m not submissive in front of the great Chief Lee Hak-jae of Sunyang Group.”
For a very brief moment, Lee Hak-jae just blinked his eyes, then burst into a hearty laugh.
“Hahaha. This is embarrassing. You’re right. That seems to be it.”
Lee Hak-jae picked up his teacup, emptied it cleanly, and then stood up.
“Alright. Take good care of Do-jun as you are now. And uphold loyalty. Perhaps your worth of 20 billion wonmight jump several tens of times.”
Oh Se-hyun’s eyes sparkled, and Lee Hak-jae smiled faintly.
“You’re quick-witted, so I trust you understand what I mean. Next time, let’s have a glass of soju.”
Oh Se-hyun, left alone, watched Lee Hak-jae’s receding back and smiled softly.
“Let’s see if that smile of yours remains when the balance in my account becomes hundreds of times your worth.”
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Chairman Jin’s Reshuffle
“Father! Are you sending a child who just graduated to Germany?”
“Grandfather. I still want to study more.”
From the very beginning of 1990, Chairman Jin’s eldest son and eldest grandson were breaking into a cold sweat.
“Studying now, after never having done it before? Our eldest grandson, you know how to make this old man laugh, haha.”
Jin Yeong-jun’s face instantly flushed, and he closed his mouth and bowed his head.
“Father. Yeong-jun is finally maturing now. He’ll faithfully take management lessons…”
Vice Chairman Jin Yeong-gi tried to make excuses for his son, but he closed his mouth at Chairman Jin’s sharp glare.
“Management lessons? Where is there a better lesson than this? The whole of Europe will be buzzing. When you make urgent decisions in the midst of that change, your eyes will naturally open. Don’t you think?”
Chairman Jin looked around at the core group members sitting in the study and sought their agreement, and they, of course, nodded.
“Preparations are complete, so depart next week. You may leave.”
As Jin Yeong-jun tried to leave the study with a displeased expression, Chairman Jin issued a warning to the back of his grandson’s head.
“Stay cooped up in the house for a week. If you cause trouble by wandering around with girls, the African branch, not Germany, will be your home.”
Jin Yeong-jun turned around with a pale face, bowed his head, and left.
Chairman Jin then turned his attention back to the group executives.
“A new year has dawned, but I’m so sorry that ’89 ended that I want to turn back the clock… What about you all?”
Chairman Jin glanced around the room and stopped at someone’s face. The rest of the people felt relieved knowing they weren’t the target, but Jo Dae-ho, the President of Sunyang Motors, whose eyes were fixed by Chairman Jin, felt his heart pound.
“S-Sorry, Chairman.”
He sprang up and bowed his head, but Chairman Jin merely flicked his hand.
“Sit down. You haven’t committed a capital crime.”
As President Jo Dae-ho awkwardly sat down, Chairman Jin laced his fingers and continued.
“I can only sleep if a Sunyang affiliate is unconditionally number one. But Jo Dae-ho.”
“Yes, Chairman.”
“What did I say when we started Sunyang Motors? Just aim for second place. Do you remember?”
“Of course, Chairman.”
“But what was last year’s performance ranking?”
President Jo Dae-ho stammered, unable to answer, and Chairman Jin slammed his hand on the long table.
“Suddenly playing mute? Aren’t you going to speak?!”
“F-Fourth place, sir.”
President Jo again sprang up and stood at attention.
“Can you sleep? A new year has dawned, so do you envision a hopeful future?”
“I apologize, Chairman.”
President Jo bowed deeply, unable to move.
Chairman Jin turned his gaze to Lee Hak-jae, who was sitting closest.
“Chief Lee.”
“Yes, Chairman.”
“Which affiliate has the fewest employees?”
At these words, President Jo Dae-ho’s body trembled. It was the moment his fate changed.
“Sunyang Packaging.”
“Packaging? When was that created?”
“Ah, it’s a subsidiary of Sunyang Trading. We used to outsource it, but the volume increased, so we absorbed it.”
“Absorbed? So the current president isn’t from Sunyang, then?”
“Yes.”
“Then fire that bastard… How many employees are there?”
“Six hundred.”
Six hundred employees, Pyeongtaek.
Those were the words that flashed through President Jo Dae-ho’s mind. He was a president only in name, but his position was less powerful than a manager at Sunyang Motors.
As the president of the packaging factory, he would have to work with manager-level personnel from Sunyang Trading.
It was no different from being told to resign.
“Jo Dae-ho.”
“Yes, Chairman.”
“You report to the packaging factory starting tomorrow. Reflect on your actions while smelling the glue.”
The words “reflect on your actions” sounded like good news. Was he being given another chance to recover? Or was it false hope?
As President Jo, with a miserable expression, tried to settle back into his chair, Chairman Jin shouted.
“What? Why are you sitting? How dare the president of a packaging factory…?”
President Jo Dae-ho broke into a cold sweat and scurried out of the study. Being chased out of the study meant zero possibility of ever returning.
“Vice Chairman.”
“Yes, Chairman.”
Jin Yeong-gi was startled by his father’s call. To think this misfortune would fall on him!
“Take charge of automobiles. I’ll give you two years, until next year. Make it second place within two years. The numbers match up perfectly.”
“C-Chairman. I already oversee several affiliates, so I don’t have the capacity… Please reconsider.”
“Ah, right. Our Vice Chairman is very busy overseeing many affiliates.”
His tone was ominous. Jin Yeong-gi regretted his futile defiance.
“How many are you managing?”
“N-Nineteen.”
“Really? Then let’s do this.”
The affiliate presidents gathered in the study didn’t dare look at Chairman Jin’s face, but their ears were wide open.
What if the Vice Chairman’s managed affiliates were reduced?
What if their own company was included?
This would mean many opportunities to meet directly with Chairman Jin, bypassing the Vice Chairman. This was another opportunity. An opportunity to solidify their own positions.
But with Chairman Jin’s next words, they abandoned that hope. He gave no one else another chance and only made the Vice Chairman even more uncomfortable.
“Do you want to manage twenty, or just one?”
Of course, no one in the room was unaware that “one” referred to automobiles.
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