Chapter 4: The Ripple Effect
Oh Se-hyun seemed disappointed with Director Lee Hak-jae, who left with only a few unsatisfying words, but I wasn’t.
“This is enough for now,” I said.
“You seem content,” Oh Se-hyun remarked.
“Yes. Today, I realized Director Lee is quite similar to me.”
“Similar? How so?” Oh Se-hyun asked.
“He doesn’t show his ambitions easily. He was offered the chairmanship of Sunyang Group. It’s a position where he could have control, even if he doesn’t own it. Yet, he didn’t say a word to secure that promise.”
“Still, he’d just be a salaried chairman,” Oh Se-hyun pointed out.
“No, he knows I’m the owner of HW Group. He also knows I don’t interfere much in its management. While he’s technically an employee, he can wield full authority. It’s not wrong to say he has control.”
“But it’s still lacking. Employees can be fired based on performance,” Oh Se-hyun countered.
“There’s more. He knows I’ve never pressured the presidents of HW subsidiaries about profits or sales. He must realize there’s no risk of being ousted over performance.”
“That’s true. You’re not like the other vice presidents, obsessed with hoarding money. You even bail out the company with your own funds when needed. It’s practically a free ride, so why didn’t he ask for anything?”
“He doesn’t trust verbal promises. Director Lee knows that promises about protecting share structures or offering the Sunyang chairmanship are just words for now.”
“So, he only wants concrete deals?”
“Exactly. When my uncles attempt to adjust shares, that’s when this deal will take effect. He’ll block them and secure the position.”
Oh Se-hyun was silent for a while. When he finally spoke, his words were unexpected.
“Then let’s make a deal, you and I.”
“What do you mean?”
“My severance pay. I’ve been the CEO for quite a while. It’s a hefty sum, you know?”
He wasn’t suggesting we negotiate his severance. He was hinting at retirement.
Now that the shares were secure, he seemed to think I was settled.
I couldn’t find words. It was something I knew I’d have to face eventually, but accepting it wasn’t easy.
After a long pause, I finally spoke.
“I’ll double your severance calculation from now. Let’s talk about this again in a few years.”
“You’re dodging the issue. I’ve done my part. My dream was to retire at fifty, play golf, and enjoy good food in a Southeast Asian resort.”
“Didn’t you decide to work ten more years?”
“I never said that.”
A smile spread across Oh Se-hyun’s face.
“Six extra years is plenty. Besides, I’ve made a lot more money, so I can’t complain.”
He was right. He had earned enough and supported me generously.
“And it seems I’ve achieved my second dream too.”
“Are you talking about Kota Kinabalu?”
“Yes. It opened last year. Give me a bungalow there.”
There’s no better place to enjoy golf and good food. He must have been waiting for the right moment to bring it up. If not for the card crisis, he would have mentioned it when the resort was completed.
“Not a bungalow, but a private villa. Didn’t you squeeze in a few luxury villas during the design phase? Isn’t that what you’re referring to?”
“Oh, the Marble House?”
“Yes.”
“You’re sharp, as always.”
The Marble House was inspired by the summer mansion of William K. Vanderbilt, a wealthy American from the 18th century. Vanderbilt amassed a fortune controlling shipping and railroads, nearly matching the U.S. Treasury’s finances.
Completed in 1892, the Marble House was decorated in Baroque and Rococo styles, resembling the Palace of Versailles. Its white marble exterior and interiors of yellow and pink marble earned it the name Marble House.
Oh Se-hyun had suggested preparing a dozen luxurious villas for top-tier clients, and I agreed.
I didn’t see it as just a place for the wealthy. It was for those who loved, supported, and helped me unconditionally.
“Are you really giving me one?”
“Would a bungalow suffice for your stay? It should at least be a villa.”
“Is that my severance, or are you trying to sweeten the deal?”
“What do you mean?”
“Are you saying, ‘Take the villa and work a few more years’?”
Oh Se-hyun joked, but I wished I could do just that.
However, I was prepared to take a loss on this deal.
“I’m not using your dream as leverage.”
“Your straightforwardness makes it easier for me.”
I wanted to protest, but what could I do?
The people around me don’t exist for my sake. I’m just a part of their lives for a while.
If they want me to exit their lives, I must oblige.
“When should we process your resignation?”
“I plan to spend this Christmas at the Marble House in Kota Kinabalu. Let’s wrap things up before then.”
“Understood. Are you planning to move there permanently?”
“Not entirely. I’ll be back and forth. I can’t miss the fun of watching you struggle occasionally, can I?”
It was a joke, but I couldn’t laugh. Seeing my serious expression, Oh Se-hyun shifted to a more earnest tone.
“Chairman Song Hyun-chang will retire at the end of this year too.”
“It would be perfect if you took his place.”
“Let go of that idea.”
Oh Se-hyun waved his hand dismissively and continued.
“The most urgent matter is finding someone for the chairman’s position and someone to handle Sunyang Card. The current card president needs to be replaced.”
“If Director Lee had asked for an advance, I would have offered him the HW Group chairmanship. But that’s off the table now. The position will remain vacant until we find the right person.”
“Do you have someone in mind for the card position?”
“I planned to appoint the president of Daehyun Card if we acquired it. To prevent their staff from feeling absorbed during the merger, their president would be ideal. It would also address morale issues.”
“Is the acquisition possible?”
“After seeing Sunyang Card, they seem hesitant. They’re announcing strong self-rescue measures, and the government has stepped back. It seems they’ve decided to wait and see.”
“Do you have enough funds for the acquisition?”
“They need 600 billion won to put out the immediate fire. With the 800 billion won my uncle provided, there shouldn’t be any issues.”
“Alright. Anyway, prepare to take over as Miracle’s CEO next year. Many want my position, but there’s no one suitable.”
“Yes.”
Oh Se-hyun gave me a bittersweet smile and patted my back.
“Don’t act so helpless. You’ll do well.”
“I’m just feeling a bit sentimental.”
“Then express your sentiment with my severance. Haha.”
“Isn’t the Marble House enough?”
“What? Just one house? Are you saying we should recalculate?”
With such trivial jokes, Oh Se-hyun’s retirement was confirmed.
Even as someone who achieved his dream was leaving, words of congratulations didn’t come easily.
Every year, autumn arrived the same way, but this year was different.
On the evening of September 12, the last day of the Chuseok holiday, the super typhoon ‘Maemi’ struck Tongyeong, Gyeongsangnam-do.
Maemi swept across the Korean Peninsula and drifted into the East Sea around 2 a.m. on the 13th.
Though it lingered over Gyeongsangnam-do and the East Sea for just over six hours, the power of nature was beyond human control.
It left behind 4.78 trillion won in property damage, displaced tens of thousands, and caused over 130 casualties as it tore through the peninsula.
As soon as dawn broke on the 13th, I received a call from Oh Se-hyun and rushed to the HW Group headquarters. While Sunyang Financial Group was in crisis mode, I chose opportunity over crisis.
The expressions of the subsidiary CEOs and executives weren’t grim. In fact, some even wore faint smiles.
The destruction left by the typhoon needed to be rebuilt, under the name of construction.
“Our HW Construction projects have been halted, and I’ve ordered an assessment of the damage and countermeasures.”
“What about casualties?”
“Fortunately, none of our employees were harmed. A few working night shifts were injured, but their lives aren’t in danger.”
Chairman Song Hyun-chang let out a deep sigh of relief.
His final days wouldn’t be marred by an accident.
“Ensure the injured are well taken care of and provide them with ample compensation.”
“Yes, Chairman.”
With the HW Construction president’s response, Chairman Song stood up.
“The rest is up to you. I don’t think I need to micromanage… right?”
Chairman Song winked at Oh Se-hyun.
“Then, Chairman, please head home. We’ll report back once everything is sorted.”
“Forget the reports. Just focus on setting up solid plans.”
Chairman Song lightly patted Oh Se-hyun’s shoulder and left the meeting room.
All the subsidiary executives seemed to have accepted his retirement as a given, as no one appeared surprised, only bowing their heads in respect.
“The public facility damage from this typhoon will undoubtedly exceed trillions. The government has already started emergency budget allocations… It’s delicate to say, but this is an opportunity for our construction industry.”
It wasn’t just us. Every construction company in Korea was likely in heated meetings, vying for the trillions to be spent on recovery and reconstruction.
In the economic downturn caused by the card crisis, such a boon was rare.
Our conference room was buzzing with energy.
In an effort to gain the upper hand, a flurry of ideas was thrown around about how to seize the advantageous position, and opinions varied on what was feasible with our capabilities.
O Se-hyun, who had been quietly listening, leaned over and whispered in my ear.
“If we don’t set some guidelines, this meeting will never end.”
“Should I set them?”
“Who else would?”
With a nod of his chin, O Se-hyun nudged me into the center of the discussion.
“Everyone, if I could have your attention for a moment. How about we shift our approach a bit?”
As I raised my hand slightly, all eyes turned to me. As the second-in-command of Miracle, a holding company, and a member of the Sunyang family, no one dared to ignore my presence. They all fell silent.
“I’m well aware that this is a tremendous opportunity, but let’s not forget it’s also a tragedy. Instead of exploiting this tragedy for profit, let’s find another way to turn it into an opportunity.”
“Another way? Like what?”
O Se-hyun chimed in to help steer the conversation.
“Improving the group’s image.”
“How?”
“Since this is a public construction project, it will proceed through a bidding process. We can opt out of the lowest bid competition and approach it differently. For instance, we could commit all our profits to helping the disaster victims…”
“Are you suggesting we donate the profits?”
“No, donations are too common to stand out. Let’s give back through construction, as befits a construction company. We could build apartments and provide them to those who lost their homes in the disaster… something along those lines.”
“Sir, these people have lost their homes. When do you propose we build and distribute these apartments?”
Someone raised a concern about the practicality of the idea.
That person needs to be let go. If they had thought about how to approach the problem before raising objections, they wouldn’t have said something like that.
“We can buy houses for the victims to live in while the apartments are being built. We don’t need to buy thousands of homes, just enough to cover what we can manage.”
At this point, another person tapped the table.
“This is a perfect opportunity to acquire non-operational real estate.”
That person deserves a promotion.
They understood the hidden meaning behind my words perfectly.