[142] One Down
The three men who had come to the office were looking around, unsure where to rest their eyes. They had rushed over because of the name “Miracle,” but they still didn’t know why the meeting had been called, and their curiosity was evident.
“Hello, I’m Jin Do-jun.”
As I handed over my business card, one of the men’s expressions changed.
“Are you by any chance related to the chairman…?”
“That’s right. I’m that Jin Do-jun. Haha.”
I wasn’t sure how much they knew, but just the fact that I was a third-generation member of the family seemed to make them nervous. They were clearly trying to figure out whether this was an opportunity or a threat, given that a member of the owner’s family had sought them out.
“So, what brings you to meet with us?”
I looked into their curious eyes and began to speak.
“I wanted to offer you a chance to stand by my side, if you’re interested.”
My bluntness made their expressions shift.
“I’ve heard you’re discreet, so I’ll be frank with you.”
I handed them the documents I had prepared.
“If you agree to just one condition, these documents will take effect immediately. Please, take a look.”
No sooner had I finished speaking than they buried their faces in the papers, scrutinizing every word. Their facial muscles twitched, as if they were holding back cheers and laughter.
“Do you like what you see?”
After composing themselves, they spoke cautiously.
“Miracle is currently the top investment firm, both here and in the U.S. But we’ve never heard of such a generous offer to recruit someone.”
“You said you’d be frank, so could you tell us why you’re making such a surprising proposal? And what exactly is the one condition you want?”
A salary of one billion won, plus incentives. A minimum five-year employment guarantee, regardless of performance.
If they worked for just five years, they’d earn more than most people do in a lifetime. All they had to do was agree to one unknown condition.
“I heard you’re advising my aunt, President Jin Seo-yoon. Oh, don’t be too shocked. I know it’s supposed to be a secret.”
The three men clammed up. They must have thought of Jin Seo-yoon and her warning that she’d make sure they couldn’t set foot in this industry again.
“Well, it was almost a threat, wasn’t it? But my aunt’s influence doesn’t reach this company. And she certainly won’t secure your future like the conditions I’m offering. Am I wrong?”
“So, we need to know the condition. Only then can we decide whether to align with you or keep an eye on President Jin.”
“The condition is simple. Ensure that President Jin Seo-yoon never sells her shares in New Data Technology.”
“Never sells…?”
“That’s right. I want her to remain a shareholder forever.”
These men had been in the financial district for over a decade. They knew the company’s stock was on thin ice, liable to crash at any moment.
To hold onto those shares forever meant incurring massive losses.
Aligning with me wasn’t just about office politics; it was about siding with a member of the owner’s family. Their expressions hardened further. Wasn’t I asking them to lie to and betray Jin Seo-yoon?
“Why are you so surprised? It’s not like losing money on stocks is uncommon. I’m sure many of your clients have lost everything, trusting only your advice.”
“But advising someone to hold onto stocks that are bound to fall is a bit…”
“Are you close?”
“Sorry?”
“I asked if you’re close with President Jin Seo-yoon. How long have you known her? From what I hear, you’ve only met her once.”
Even calling it betrayal seemed a stretch.
It was just a matter of being caught in the grip of someone powerful.
“For people who work in a cutthroat environment every day, your grasp of the situation and judgment seem lacking. Have you been barely hiding your incompetence all this time?”
My words struck a nerve, and their irritation was plain on their faces. But as a member of the chairman’s family, they couldn’t say anything and just fumed silently.
“This isn’t about choosing who will make your life better. It’s about choosing who will prevent it from falling apart. Do you understand?”
They caught my drift.
The nephew was pushing his aunt into a corner. If they refused, the nephew would wield the knife.
In the end, they had to choose someone who could shield them, and I was offering not just protection but a carpet of cash. The choice was clear, unless they were fools.
“We understand, but how can you guarantee it?”
“Guarantee what?”
“That if President Jin kicks us out, you’ll hire us as per this contract.”
“And can you promise to keep her from selling those shares?”
My smirk was met with a quick counter.
“We may not make our clients money with stocks, but we can certainly make them lose it. I thought you knew that.”
Their words implied they would keep their promise and stand by me. Now it was my turn to reassure them.
“Actually, I own 300,000 shares of New Data Technology myself. Your five years’ salary is nothing.”
“Three, three hundred thousand…!”
The current stock price had soared past 200,000 won. Even at that, it was 60 billion won. Their combined five-year salary was only 15 billion, so it was no empty boast.
“May I ask at what price you bought them?”
“I invested 500 million when it went public.”
A low murmur of amazement escaped them.
“You bought at the IPO price… that’s impressive.”
“How did you hold on through such volatility? Didn’t you feel tempted to sell when it dropped?”
I couldn’t tell them the truth, so I gave them an answer that would put them in their place.
“Even if I lost it all, it’s just 500 million. Why would I waver when a little patience could earn me tens or hundreds of billions?”
Their faces showed a mix of disapproval and envy.
The luxury of calling 500 million won “just” a small amount.
The wealth that begets more wealth.
They might find it distasteful, but they couldn’t deny their envy.
It was time to wrap up the conversation.
I ended it with a threat, just like my aunt would have.
“I hope you handle this as I’ve instructed. If things go wrong, you’ll find out I’m even more ruthless than President Jin Seo-yoon.”
One of them, who had been listening to my threat with a grim expression, spoke up cautiously.
“May I ask just one thing? Why are you pushing President Jin into a pit?”
“Let’s just call it a minor family squabble.”
For something “minor,” it did seem a bit brutal, didn’t it?
When the stock hit 250,000 won, I sold everything. Of course, I didn’t make the foolish mistake of placing a sell order all at once.
The company’s 3 billion investment turned into 500 billion, and my personal 500 million investment ballooned to 80 billion.
Oh Se-hyun only made 16 billion, but he never showed any regret or envy. Perhaps he wanted to demonstrate the true professionalism of forgetting about stocks the moment they’re sold.
Who knows if he ever regretted missing the opportunity when he was alone.
The stock struggled to break 300,000 won for about a week but couldn’t sustain it. Although it briefly surpassed that mark during trading, it couldn’t hold.
After that week, the stock began to plummet as if a plane were crashing.
Yeouido, which should have been buzzing with the joy of the upcoming new millennium, was shrouded in gloom. The collapse of New Data Technology echoed like thunder.
In just three months, the stock had skyrocketed nearly 70 times, sparking a frenzy at brokerage branches to “sell all stocks and buy New Data.” As a result, the KOSDAQ index, which was only 145.50, surged to 266.00 in three months, an 82.8% increase.
The saying “The chicken (KOSDAQ) has eaten the cow (stock exchange)” became popular.
When the stock exceeded 300,000 won, the KOSDAQ index also rose to 292.55, and analysts were confident it would break 300.
However, after the stock plummeted to 150,000 won, it couldn’t even attempt a rebound and settled back in the 10,000 won range. What was once a “gold mine” had turned into “scrap paper.”
The media, which had praised it as next-generation technology, now criticized it as nothing more than a fanciful idea and began to tear into the company, saying it resembled the conglomerates it should have been overcoming.
Even more absurd was how they depicted Lee Sang-soo, once hailed as Korea’s Bill Gates, as a notorious con artist, even publishing interviews with hostesses from the bars he frequented.
With tens of thousands of people having lost their hard-earned savings and crying out in despair, the media needed a scapegoat for their anger.
Everyone knew the stock price was abnormal, but no media outlet chastised the public for ignoring the obvious in their get-rich-quick frenzy.
Defeated greed led to despair, despair to anger, and anger sought a target to unleash upon.
Jin Seo-yoon followed the same path.
When her 140 billion won dwindled to less than 10 billion, she despaired.
She had 140 billion won due before the year ended. She couldn’t hold out any longer. If the year passed, the department store tenants wouldn’t stay silent, and it could lead to lawsuits or criminal charges.
She couldn’t accept that the responsibility for this despair lay with her.
“Director Lim! When are those people coming? Didn’t I tell you to bring them quickly?”
“President, please calm down…”
“Do I look calm to you? What are you doing?”
“They’re not answering. They won’t take calls or come to work.”
It wasn’t just those three from Sunyang Securities. After the collapse of New Data Technology, more than a truckload of people from Yeouido had gone underground.
“Those bastards…! Get people on it and bring them in. I don’t care if you have to contact the police or ask the prosecutors, just do whatever it takes to catch them!”
All Executive Director Im could do was stare blankly as Jin Seo-yoon hurled office supplies in a fit of rage.
With the power of the Sunyang Group, finding those three wouldn’t be difficult, but the money was already gone. Recovering it was impossible.
The real issue now was figuring out how to cover the financial hole. The priority should be to either approach Chairman Jin or meet with Miracle’s Oh Se-hyun to secure the necessary funds.
This was no time for hysterics.
Feeling Executive Director Im’s sympathetic gaze, Jin Seo-yoon calmed her trembling body. She wasn’t foolish. There was only one place to turn for the billions they needed right now.
She couldn’t even bring it up with Oh Se-hyun. Asking a creditor for more money would only risk losing the collateral.
In times like these, family was the only option.
“Get the car ready. We’re going to Pyeongchang-dong. Right now!”
Watching Jin Seo-yoon speak into the intercom, Executive Director Im let out a long sigh of relief.
Thank goodness.
It seemed the boss hadn’t completely lost her mind.
For Chairman Jin, a billion and four hundred million won was pocket change.
Jin Seo-yoon could kneel and plead, and after a stern scolding, it could all be settled without a promissory note.
In the end, it’s family ties that put out the fire.