RR 40
[040] Luck Also Comes in Flocks? 2.
“Are you saying there’s no way now?”
Lee Hak-jae’s tone, now composed, shifted slightly. It was as if he was speaking to a subordinate.
“It’s not my job to find that solution, is it? Sending the money to the original investors’ linked accounts is all I can do. Finding the money from those accounts is your job, Director. Isn’t it?”
“Are you going by the book now? Didn’t you know that 100 billion won isn’t normal money?”
“People who handle money like me don’t check for impurities on the money. We simply multiply it.”
Oh Se-hyun, tired of the bickering, ended the conversation with a curt statement.
“Just give me the original investor’s account. I’ll send it all within an hour. If it’s a foreign currency account, I’ll transfer it in dollars.”
As if to show he had nothing more to say, Oh Se-hyun abruptly stood up and walked out.
Lee Hak-jae, sitting alone in the conference room, pulled out his phone and stepped outside.
“Now, raid this company called Miracle Investment in Yeouido. Since their headquarters are in the U.S., raid that too. Dig up everything: capital, company members, shareholder list, and investment destinations.”
Lee Hak-jae gave instructions to his staff and then called the National Tax Service.
“Commissioner, this is Lee Hak-jae from Sunyang.”
He requested the company details from the National Tax Service Commissioner and then rushed back to Chairman Jin.
He decided it was better to tell Chairman Jin the truth and receive instructions. Miracle was likely deeply connected to Jin Do-jun.
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Grandfather’s Surprise and a Son’s Ambition
“You must be having a headache because of the Sumitomo explosion. Are you alright?”
“Oh, my Do-jun. You’re the only one. All my other grandchildren just want to take my money, but only our Do-jun worries about me and the company.”
I was the only middle school student, and most of the third generation were adults. Especially the kids in this family, they were like money-eating hippos once they became high school students.
Those who went abroad early for study in Europe or America from high school spent annual salaries equivalent to those of some affiliate presidents, from tuition to living expenses.
“Our Do-jun, you’ll be going to high school in just one more semester, right?”
“Yes.”
“Have you talked to your father? Are you looking into schools?”
“No. I’m just planning to go to a regular high school. I don’t think there’s a need to study abroad.”
Chairman Jin frowned.
“Oh, your father doesn’t pay any attention, does he? I knew it.”
My older brother, Sang-jun, didn’t study abroad either. Of course, he entered a prestigious private high school that only children of wealthy and powerful high-ranking officials attended.
Even then, Grandfather didn’t pay attention. Ah… Did he not pay attention even before that? Did their parents just take care of their education?
“Grandfather.”
“Don’t say anything. I’ll look into a prestigious school in Switzerland for you. I’ll send you to the best school in the world.”
“No. That’s not it. I’m just going to Seoul National University.”
“What? Seoul National University?”
At the mention of Seoul National University, Grandfather’s expression changed.
“Yes. It’s where talented people gather in Korea. The highest-scoring departments are either law or medicine… But I’m going for liberal arts, so I’m aiming for law school.”
“L-Law school? Are you perhaps aiming to be a prosecutor or judge?”
Grandfather, with a mix of surprise and worry, reconfirmed my dream.
“Oh, come on, really? You know my dream, Grandfather. My goal is to be a corporate executive.”
“Then why are you going to law school?”
His expression showed some relief, and now only curiosity remained in his eyes as he looked at me.
“So you can brag about it wherever you go, Grandfather. No chaebol’s child has ever studied well enough to go to Seoul National University Law School, have they?”
At this absurd answer, Grandfather seemed speechless, his eyes turning blank.
How much did the Daehyun Group chairman boast at the Federation of Korean Industries meeting?
The fact that his eldest grandson was admitted to Seoul National University became the topic of the FKI meeting for an entire day.
Knowing all the tricks he used to get admitted, listening to his bragging made my stomach churn to the point of going crazy.
Rumor had it that he mobilized not only his secretarial staff but also over a dozen reporters from Seoul National University and the economic department to the university.
These individuals cornered university officials for a close investigation, then, just before the 6 PM deadline, chose the department with the lowest competition rate, and succeeded in submitting the application just before the reception counter closed. The department he got into was something like Oriental Philosophy or Oriental History.
Of course, it’s undeniable that even if it was the department with the lowest cutoff at Seoul National University, he still achieved above-average grades.
However, if it had been through normal means, he would never have crossed the threshold of Seoul National University, and at best, he would have ended up at Y or K universities, where most people go.
But even for a chaebol chairman, a grandfather’s heart is the same, so the bragging about his grandson never ended, even after a year. That tiresome bragging.
However, if it’s Seoul National University Law School, the story is different. Tricks don’t work. Everyone has to acknowledge it.
“Are you serious? Are you applying to Seoul National University Law School because of me?”
“Of course. Why else would I apply to law school if I’m not going to be a prosecutor or judge?”
Grandfather’s current expression was truly one I had never seen before. To think that a person known for his thick skin could have such a changeable expression.
“Many people earn money and increase my wealth, but no one has ever given me joy. Our youngest makes this grandfather not just happy, but deeply moved.”
He seemed on the verge of tears.
“Alright. Just get into Seoul National University Law School. I’ll give you whatever you want as an admission gift. Haha. Of course, of course. Once you’re admitted, you can go study abroad at a prestigious foreign university, right? After all, aren’t those who study abroad in high school the ones who aren’t confident enough to get into prestigious universities in Korea?”
I wanted to tell him to remember those words, but I held back. Not just a common foreign car, but the power of the Sunyang Group Chairman—that was the admission gift I wanted.
“I called you here not for anything else, but because of your money. There’s something I need to confirm.”
Grandfather, having composed his emotions, lowered his voice and brought up the topic I had expected.
Oh Se-hyun had meticulously told me about Lee Hak-jae’s visit yesterday and also mentioned that he would likely confirm things with me soon.
My money was just an excuse; he was surely checking on the slush fund.
“Yes. Please speak, Grandfather.”
“I understand all your money is currently invested in an investment company called Miracle something.”
“Yes, that’s right.”
“And the representative of that company is Oh Se-hyun.”
I quickly spoke, thinking it was better to strike first.
“Oh, don’t misunderstand. Uncle Se-hyun told me when he quit PowerShares.”
“Then do you know inside and out how this ‘Miracle’ place operates?”
“Not everything, but I know where and how my money is invested.”
“Really? How’s it going? Have you made some money?”
He even showed curiosity amidst all this. He was truly an amazing man.
“He said it’s much better than bank interest.”
I invested $9 million in Dell Computer and it grew to $1.1 billion. Converted at the current exchange rate of 800 won, that’s 880 billion won. Microsoft shares also quadrupled.
When SoftBank goes public next year, the $230 million investment will triple.
The money invested in films was doubling every year.
By the time I entered university, it would easily exceed 2 trillion won.
But I couldn’t reveal this fact now. There’s a specific time to unleash information. The most impactful and effective moment.
That’s when it exerts even greater power.
“Hmm… You’re saying it’s grown by more than 10 percent annually, then.”
“Yes. It’s probably an average of 20 percent. But Grandfather, is there some problem? Why are you asking…”
“Ah, no. I just wanted to confirm your strong relationship with Oh Se-hyun. Isn’t it important since he’s managing a large sum of money?”
“He’s my father’s best friend and like family to me. And… I heard there are dozens of other investors besides me, and their investments are much larger.”
Wouldn’t he, being so quick-witted, understand if I just dropped this much?
“Really? There are others? Do you know who they are?”
“No. But he did mention the investment amount. He said about 100 billion won came in all at once… And that’s why he decided to move companies.”
“100 billion won?”
“Yes.”
“I see.”
He looked somewhat relieved after confirming that the 100 billion won was safely dormant.
“Do-jun. Will you do me one favor, this grandfather?”
“Of course. Please tell me.”
“If you ever think Oh Se-hyun is using the investment money suspiciously, could you tell this grandfather immediately? It’s no small sum, so I’m a bit worried.”
“Hmm, I don’t think that would happen… Anyway, I will. I’ll tell you right away if anything seems suspicious or if I don’t understand.”
“Good, good. Haha.”
Only then did Grandfather show a look of relief. It was safe until a way to retrieve the slush fund was found.
A joyful expression also appeared on my face.
A whopping 100 billion won. Although it was money tied up in the company, the company could use it at any time.
Thank you, Grandfather! I’ll put it to good use.
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A New Opportunity
“For now, money is not an issue. Have you looked into the U.S. side?”
“Yes. There’s no way to know the shareholder structure of Miracle Investment. It’s an unlisted company and based in the U.S. The Korean entity is just a shell.”
“A shell?”
“Yes. It’s only formally a corporation, but it’s at the level of a liaison office. Money invested into Korea is also directly invested by the U.S. headquarters.”
“So, a company whose owner we don’t even know is holding my money, that’s what you’re saying.”
“I apologize, Chairman.”
Lee Hak-jae dropped his head, feeling utterly defeated.
Losing about 100 billion won due to the company’s management failure was not a problem. It was company money anyway.
But this money was entirely the Chairman’s personal fortune. Safely embezzling 100 billion won from a corporation was as difficult as successfully executing a multi-trillion-won project.
“We’ve bought time, so just find a way.”
At the Chairman’s firm voice, Lee Hak-jae instinctively stood up.
“Yes, Chairman!”
“That’s enough. Sit down.”
Lee Hak-jae sat back in his chair and pulled out a report.
“This is an urgent contact from the Japan branch. Sumitomo seems to be making an unexpected decision.”
Chairman Jin’s eyes widened in surprise as he skimmed the report.
“Closing the epoxy production line for semiconductors?”
“Yes. Although it’s a monopolistic position, it only generates about 20-30 billion won in sales, and they seem to think it’s better to close it down rather than constantly risk explosions.”
“This… Isn’t this an even bigger problem?”
“They say they’ll transfer the technology before closing. They seem to have no lingering attachment.”
“Indeed, that makes sense. If an explosion occurs, other production lines will be affected, and insurance premiums will skyrocket. It would be hard to even pay the insurance premiums with the money earned from selling epoxy resin.”
Chairman Jin put the report down on the desk and chuckled.
“Looking at this, those Japanese guys are truly kind. If it were us, we’d raise the price tenfold.”
“If they did that in Japan, they’d be criticized by the companies they deal with. Isn’t that what they fear most? There are also regulations on monopolies.”
“Thanks to that, it’s been convenient for us too.”
Lee Hak-jae cautiously said, observing Chairman Jin’s reaction.
“There’s a good epoxy resin company in Cheonan. How about we provide the funding, and this company receives Sumitomo’s technology transfer?”
“Make it our own?”
“Yes. We avoid risk and effectively get the semiconductor epoxy in our hands. Couldn’t we use it as a weapon when needed?”
“That’s true… But wouldn’t it be too obvious?”
“After securing enough of our own inventory, we could ‘accidentally’ shut down a production line with a bang…”
“Disguise it as an unavoidable accident?”
“It happens frequently. Hehe.”
At Lee Hak-jae’s sinister laugh, Chairman Jin’s lips also curled upwards.
It was quite a sweet proposition.
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