Chapter 25: Miracle Investment Company, Part 1
“Who is it?”
“It’s Oh Se-hyun, the Korean representative of PowerShares.”
“Aren’t they just money players?”
“In a way, yes.”
Chairman Jin Yang-cheol frowned as he skimmed through the reports spread across his desk.
“This guy, is he a friend of Yoon-ki?”
“Yes, they studied together at Cambridge in the UK.”
Chairman Jin held Oh Se-hyun’s profile in his hand.
“Is this guy up to something?”
“No, sir. Neither Yoon-ki nor Do-jun are the type to be greedy for money.”
“You’re talking about character in front of money? What’s wrong with you? No matter how much you trust Yoon-ki, you’re too soft.”
He knew his son wasn’t greedy, yet he couldn’t shake off his suspicions. His nature was relentless, almost to the point of absurdity.
Lee Hak-jae chuckled, scratching his head.
“Still, isn’t it impressive? I thought he’d just put the money in a bank and collect interest, but he entrusted it to an investment firm?”
“That’s exactly why I’m suspicious. Why his friend, of all people?”
Chairman Jin couldn’t help but wonder if this Oh Se-hyun was trying to take advantage of his naive son.
“Hak-jae.”
“Yes, sir.”
“Meet this guy.”
Lee Hak-jae took the photo of Oh Se-hyun that Chairman Jin handed him.
“Understood. I’ll make sure there are no issues.”
As Lee Hak-jae bowed and left the study, Chairman Jin leaned back in his chair.
“This kid…”
He couldn’t help but smile. It wasn’t that he didn’t trust his son, Jin Yoon-ki. He just believed that being cautious was never a bad thing. And if his young grandson had come up with the idea of investing, he was proud beyond words. The ambition not satisfied with mere bank interest—just like him.
“I’m Lee Hak-jae.”
“I’ve heard of you. I’m Oh Se-hyun.”
The two men exchanged business cards and sat down in the spacious chairs of the hotel lounge. Oh Se-hyun’s tone was polite, but his demeanor was confident.
Who was Lee Hak-jae? He was the acknowledged second-in-command of the Sunyang Group. Even Jin Young-gi, the chairman’s eldest son, was said to be deferential to him. It was rare to find someone who wasn’t intimidated by him.
To Oh Se-hyun, Lee Hak-jae was just the head of a snake. No matter how successful one was in Korea, it was still a small pond in the world. PowerShares was a global empire, and at least he was the tail of a dragon. There was no reason for the tail of a dragon to bow to the head of a snake.
“You’re a busy man, so I’ll get straight to the point.”
“You’re here because of Do-jun, right? You should take a look at this first.”
Oh Se-hyun handed over two documents. One was a guardian consent form, and the other was a confidentiality agreement.
“To avoid any misunderstandings, let me clarify. Jin Yoon-ki approached me first, and the confidentiality request came from Do-jun. So even if you ask where Do-jun’s funds are invested, I can’t tell you.”
Lee Hak-jae was at a loss against Oh Se-hyun’s preemptive strike. There were many things he needed to confirm, but he couldn’t question someone who had already declared they wouldn’t answer. And he couldn’t just walk away either—it was a matter of pride.
“Just remember one thing. Don’t get any funny ideas. If you mess around, I’ll make sure you regret it.”
Oh Se-hyun’s eyebrow twitched for a moment, but his business-hardened mindset quickly restored his smile.
“That’s quite a threatening request.”
“What?”
“Don’t be too harsh. We’re not some local credit union… The name Sunyang doesn’t scare us.”
Lee Hak-jae glared at Oh Se-hyun, whose smile had vanished.
“Sunyang might be a small fry in the global scene, but it’s different in this country. I could send the National Tax Service, the Board of Audit and Inspection, and the Special Investigation Division of the Prosecutor’s Office all to your company. Keep that in mind.”
“So, even a mutt has its day in its own yard, huh? I’ll remember that, Director.”
Referring to Sunyang Group as a mutt made Lee Hak-jae’s lips twitch.
“Shall we wrap this up?”
When Oh Se-hyun stood and extended his hand, Lee Hak-jae shook it lightly. Despite being younger, Oh Se-hyun showed a slight concession. As he bowed slightly, Lee Hak-jae chuckled and left the hotel first.
“Phew—what a tough guy. Why is he so prickly?”
Once Lee Hak-jae’s figure disappeared, Oh Se-hyun let out a long breath.
As soon as Lee Hak-jae got into the waiting car at the hotel entrance, he picked up the car phone.
“Chairman, it’s me.”
“I just did. I don’t think you need to worry.”
Chairman Jin’s voice over the phone sounded relieved.
“Yes. He’s got guts and a lot of pride. It’s clear he’s not a small-minded person who’d drool over Do-jun’s money.”
“I was planning to. Knowing someone from PowerShares won’t hurt.”
After ending the call, Lee Hak-jae leaned back into the comfortable seat. Once again, he realized the world was full of talented people like grains of sand.
In August 1989, in the Soviet republics of Lithuania, Latvia, and Estonia, around two million people formed a 600-kilometer human chain, the “Baltic Way,” demanding democracy and independence.
That same fall, while Korea was enjoying the abundance of Chuseok, the Hungarian government opened its western border, triggering a mass exodus of East German citizens. It was the signal of the Eastern Bloc’s collapse.
While the world’s attention was focused on the rapid changes in Eastern Europe, I was busy planning my trip to the United States. Skipping school wasn’t an issue. The school I attended was for kids with powerful and wealthy parents, so after the liberalization of overseas travel, missing classes for trips abroad wasn’t a big deal.
The crucial part was the timing of establishing an investment company based in New York. A company where I was the major shareholder, owning 98% of the shares. It was a company that Oh Se-hyun and his colleagues invested 2% in, hoping to gain early access to Chairman Jin’s information.
Oh Se-hyun had assured me it would be perfectly set up by the end of October, so there was no time to waste. There was someone I needed to meet before 1989 ended.
When I mentioned the trip to the U.S. to my parents, my mother was delighted, but my father was hesitant. He was busy with the establishment of a film company, having started working for the first time in his forties. He was like a young man filled with excitement and passion, no different from a rookie in society.
Even my rebellious older brother, Sang-jun, turned into a sweet and doting son at the mention of America.
On November 3, 1989, the day the largest scandal in the history of Korea’s ramen market, the “industrial beef tallow” incident, broke out, Oh Se-hyun and my family boarded a first-class flight to New York.
“Sister-in-law, why don’t you rest a bit, do some sightseeing with Sang-jun, and maybe some shopping? I have somewhere to take Do-jun.”
“What is it about…?”
“It’s nothing major. Do-jun invested some money in the U.S., and we’re just going to check it out. Do-jun is interested in this, so I’ll take him along for a look.”
As soon as we settled into the suite at the Plaza Hotel in New York, with a view of the Statue of Liberty, Oh Se-hyun was eager to move.
My mother looked a bit worried, but Sang-jun showed no interest at all. He took after our father, showing no interest in money. Even when he found out I had over a billion won, he wasn’t envious; he was concerned. He worried I’d get caught up in the family’s ugly money battles.
“Oh, and I’ve arranged a guide. He’ll have a car ready, so you won’t be inconvenienced during your stay.”
Leaving the two behind, we exited the hotel.
As we sped towards Wall Street in a taxi, I took in the sights of New York through the window. I would vividly remember the ever-changing and developing New York.
“The building might look modest, but I chose a cheap one to avoid unnecessary expenses.”
Despite his words, the building looked nothing short of magnificent to me. In Manhattan, the heart of global finance, this building might indeed be considered modest.
We went up to the sixth floor, where Oh Se-hyun stopped in front of a door with a small plaque.
Miracle Investment Inc.
Oh Se-hyun waved off the name as childish, but I insisted. After all, we were about to create a real miracle.
The moment I saw the office, a thrill ran through me. This was my first company. Here, I would nurture a giant that could swallow the entire Sunyang Group.
As we entered, three men in their thirties and one woman greeted Oh Se-hyun warmly.
“James! Wow! Long time no see!”
They called him by his English name, expressing their delight. These were fund managers Oh Se-hyun had scouted from PowerShares New York.
Leaving a prestigious company for a humble start meant they weren’t top-tier. They might be second-rate, or even third-rate. Of course, having been at PowerShares meant they were quite capable, but within that environment, they were the ones who lagged behind.
They already knew I was the grandson of Korea’s largest conglomerate chairman and likely thought the 15 million dollars deposited in the company was just a slush fund from Sunyang Group.
True to a startup, they immediately launched into a heated discussion about how to manage the 15 million dollars and where to invest it. Names of global companies like IBM, Intel, Levi’s, Nike, and 3M came up, and the sole female fund manager strongly recommended Microsoft.
Apple’s name didn’t come up.
Well, considering Apple’s stock isn’t even close to a dollar right now, it’s no surprise.
Listening to their conversation, Oh Se-hyun calmed their enthusiasm and explained that instead of investing in American companies, he preferred to reinvest in Korea using the information provided by Chairman Jin of Soonyang.
As soon as Oh Se-hyun finished speaking, the four managers looked visibly disappointed. They hadn’t left PowerShares just to do something so mundane.
I pretended not to understand their conversation, trying to gauge the extent of their capabilities.
One thing was clear: the men favored stable investments, while the woman wasn’t afraid to take risks. She might just be the most talented of them all.
As the heated discussion wound down after about an hour, I called out to Oh Se-hyun.
“Uncle, can I have a moment?”
“Oh dear, our Do-jun must be bored. Sorry, I got caught up in work talk.”
“It’s fine. But could you take a look at this?”
I pulled a note from my pocket and handed it to Oh Se-hyun.
“What’s this?”
“It’s the first place our company should invest in.”
“What?!”
Startled, Oh Se-hyun snatched the note and quickly unfolded it.
The four managers, noticing his unusual expression, gathered around to see the note.
Upon reading it, they all exclaimed in unison.
“Michael Dell?”
“Michael Dell?”
“Dell? Dell Computer?!”