The Dawn of a New Millennium
“The position of chairman in this company isn’t like the imperial chairmen of other conglomerates, who are absent from the organizational structure and system. You’ll have the authority to appoint CEOs of each department store, hotel, and large discount store, and to set the overall business direction.”
“So, Miracle only intends to be involved in appointing the chairman?”
“Exactly. As I mentioned, it’s a complete separation of ownership and management.”
The executives exchanged glances before speaking up one by one.
“Before that, we need to clarify our relationship with Vice Chairman Jin Seo-yoon.”
“Indeed. After the last incident, our relationship with her has become quite strained.”
If they were to testify against the CEO, it would be tantamount to rebellion against my aunt. She might be seething with anger.
“She’s still the vice chairman. Until a new chairman is appointed, we must follow her directives.”
“You don’t have to.”
I said with a sly smile, drawing their attention.
“Approach Vice Chairman Jin Seo-yoon with an open mind. Take only what you need from her words, opinions, and directives, and discard the rest.”
“Won’t that lead to conflicts?”
“I’ll always be here to mediate. Once again, let’s work together with open minds.”
I looked around at my future colleagues, not forgetting my final reminder.
“If you think of me as a Sunyang Group person, you’re making a big mistake. If it benefits our distribution group even a little, I won’t hesitate to cause significant damage to Sunyang Group. Remember, I’m with Miracle, not Sunyang.”
Could they truly sever ties with Sunyang Group?
“This guy is starting to show his claws. Seo-yoon, that foolish girl, squandered everything on stocks.”
“I heard. Father made it easy for Miracle to take over by packaging it nicely. If the governance structure had been more complex, it wouldn’t have been so easy.”
“The management support department informed me. They’ve repaid every penny borrowed from our group. Seo-yoon’s matter is completely severed now.”
Unlike the anxious Jin Young-gi, Jin Dong-gi seemed unfazed.
“Well, it helped fill our financial gaps, so it’s fine.”
“Hey! Aren’t you worried at all?”
Jin Young-gi shouted at his nonchalant brother.
“Department stores, hotels, marts, condos, golf courses. It’s all about building and buying land. Do you need technology or machinery? It’s all about real estate and people. What’s there to miss?”
“What do you mean by that?”
“With our investment, we can buy real estate, build hotels, and slap the Sunyang name on them. As for people? We can bring over everyone under Seo-yoon.”
Jin Dong-gi believed that starting with just one—be it a hotel or a department store—would allow them to poach talent and destabilize the company that had moved to Miracle, leading to its collapse without a major fight.
The power of the Sunyang name, once rendered unusable, would mean surrendering without a fight, according to Jin Dong-gi.
“By the way, you see Oh Se-hyun often because of the Woosung Shipbuilding acquisition, right? Did you talk about this matter?”
“That’s why I’m saying, Oh Se-hyun is living in a fantasy.”
“What fantasy?”
“The fantasy of becoming a conglomerate head. Miracle’s funds rely on the U.S., and the Americans trust Oh Se-hyun, who seized the opportunity during the IMF crisis to buy companies. So he thinks he can play the role of a conglomerate head without any objections from American investors.”
“He’s out of his mind.”
“No, he has the ability to turn that fantasy into reality.”
“What?”
Jin Young-gi felt a growing unease at his brother’s words.
“Did you forget? Sunyang Motors holds 17% of the group’s shares. If Do-jun takes over our financial sector and swaps Sunyang Motors’ 17% shares with a few Sunyang affiliates, he could easily rank among the top five in the business world.”
That statement meant the combined scale of what the two brothers held, and it was akin to losing half of Sunyang. A chill ran down his spine.
“Bringing down the department stores and hotels isn’t a distant future task.”
“Right. Once we topple just one, the Sunyang people who broke away will come running to us. That will serve as a warning to Oh Se-hyun.”
The brothers, who always kept each other in check, found themselves united against an external threat, returning to their true brotherly selves for the time being.
The year 1999 marked the end of the 1990s and was filled with anticipation for the new millennium. Despite the previous year’s dismal -6.9% economic growth rate, the country rebounded with a +9.5% growth, fueling hopes for an even better new year.
However, alongside the excitement for the new millennium, there was widespread fear of Y2K. But when January 1, 2000, dawned, none of the anticipated disasters occurred.
Banks worked overtime to prepare for any eventuality, and government agencies and large corporations did the same. When the new year arrived, those who had been tense all night breathed a sigh of relief and went home, exhausted but relieved.
Thus, the 21st century began.
This year, none of the relatives went to Grandfather’s house. They had to prepare from the morning to welcome the guests who would come flooding in.
The executives of Sunyang Distribution and its affiliates were torn between Oh Se-hyun and Jin Seo-yoon, but when Oh Se-hyun announced he was heading to the countryside, they all went to Aunt’s house.
I quietly slipped away from the bustling house, where it was hard to keep track of who was coming and going, and headed to Pyeongchang-dong.
I wanted to have an important conversation while Grandfather’s house was quiet.
On the first day of the new millennium, I paid my respects and settled in the living room.
“Isn’t Grandmother back yet?”
“No, she’s still living like a noble in Europe.”
“Wasn’t she in England?”
“She bought a few paintings and moved to the Geneva villa. Who knows what she’s up to.”
Grandfather’s expression wasn’t good, so I didn’t press further. Despite being married for nearly 60 years, it seemed they were growing more distant.
“Isn’t President Cho here yet?”
“He has to receive New Year’s greetings from his descendants too. I told him to come at his leisure.”
Having let go of many responsibilities, Grandfather seemed to be enjoying a leisurely life.
“But why cars all of a sudden? Haven’t the restructuring of Ajin and Sunyang been completed? Chairman Cho Dae-ho and Chairman Song Hyun-chang have been praised for their handling. What are you planning?”
“I want to bring some change.”
“Change?”
“Yes. It’s undeniable that surpassing Daehyeon Motors is difficult. So we should aim for the world.”
“Daehyeon is a minor player outside. If you can’t catch Daehyeon, what world are you talking about?”
Grandfather shook his head, dismissing the idea.
“Production and sales aren’t everything. There are various Olympic events.”
“Ha, you still have a way with words. So, what are you trying to say?”
“We need to transform into a beloved car company.”
“What? Beloved?”
Grandfather chuckled incredulously.
“You can’t even date properly, and you’re talking about love? Even a passing dog would laugh.”
“Isn’t this love different from that love? You know what I mean.”
“Since we’re on the topic, let me ask you something.”
“Yes.”
Grandfather leaned in closer, his expression serious. What could it be?
“That girl you said you’re seeing. Do you meet her often?”
“Min-young? No, we meet once or twice a month for a meal and a beer. I’m busy, and so is she, preparing for the bar exam.”
In fact, Min-young had mentioned she might as well enter a temple. Passing before graduation seemed to be her top priority, and she was so pressured that she’d quickly eat and return to the library.
“Meeting once or twice a month for a meal, is that dating? Even friends see each other more often.”
“What’s the rush? If we drift apart, we’ll just remain schoolmates.”
Wait a minute! But…
“Grandfather, did I ever tell you I was seeing someone? I don’t recall mentioning it…”
“What? Oh, yes, you did. How can a young man have worse memory than this old man!”
He even raised his voice.
I had a hunch why he was acting this way, so I didn’t press further. He must have someone tailing me at all times. It’s probably with good intentions.
I was fine, but just as Grandfather was about to offer more excuses, a savior appeared.
“Sorry for being late, Chairman.”
President Cho Dae-ho entered the living room, holding a small bundle.
“Not at all. You must be busy receiving greetings from your children. Sorry for calling you on the first day of the new year.”
“It’s fine. Receiving greetings from grown children is more of a burden than a greeting. It’s actually a good excuse. Haha.”
President Cho placed the New Year’s gift he was holding down gently and bowed.
“May you have a healthy new year, President Cho.”
“Oh, Do-jun, you’re here too?”
President Cho lightly patted my back and straightened up.
“Please have a seat. I’ll offer a deep bow.”
“Forget it. It’s sad enough getting old without making it obvious. By the way, why are you here alone?”
“My friend, it was this young man who called you. You’re losing your touch with age. Haha.”
“Oh, is that so? This is nerve-wracking. Being summoned by the largest shareholder. Haha.”
When the word “shareholder” came out of President Cho’s mouth, I was startled. Did he already know I was the de facto owner of Miracle?
Seeing my surprised expression, President Cho looked a bit awkward.
“Was I not supposed to know?”
At this point, Grandfather patted my back and said.
“Don’t worry. He’s a man of few words. If he’s willing to let go of Sunyang Motors so easily, he deserves to know the full story.”
“Yes, I was surprised, but it wasn’t something that needed to be kept secret. I apologize for any offense, Mr. Cho.”
“No need to apologize. With so many eyes watching, it’s understandable. Imagine if word got out that Ajin Group was handed over to a twenty-year-old college student. The world would have been in an uproar. Who would believe it? Especially since that student is the third generation of the Sunyang Group. People would have been up in arms about favoritism and unfair inheritance. It was a wise decision.”
He interprets the concealment of the truth in a completely different light. I was merely trying to avoid the scrutiny of my uncles.
“Come on, let’s head to the study and talk quietly. It seems this young man has a lot to say to you.”
“You want to change the company’s direction?”
“Yes.”
“You’re thinking of taking on something difficult.”
Chairman Cho didn’t show any surprise or curiosity. It meant he already had an inkling of what I intended to do.
“We’re just now seeing the path to stability. Even if it’s in sight, getting there won’t be easy. If you branch out now, you might never reach it.”
Chairman Cho’s mind must be spinning with the company’s financial figures. No matter how hard you squeeze, the numbers needed to branch out won’t appear, so his response is naturally cautious.
“Let’s worry about the money later.”
“Later? Alright. So, what color is this new direction? Red, blue…?”
Grandfather chimed in with a smile.
“I want to make it a company that’s loved.”
“Loved?”
Chairman Cho’s reaction was no different from Grandfather’s. His expression was one of mild disbelief.