[033] A Time of Rapid Change 3.
“I’m going to be a middle schooler soon, Uncle.”
“What? Already?”
“Yes. I’ll be starting in March.”
“Not quite yet. Hey! Aren’t you even a bit surprised? Haven’t you seen the box office numbers? You’re not someone who doesn’t understand the value of a dollar.”
When I responded with indifference, Oh Se-hyun’s eyes turned suspicious again.
“We invested $8 million out of an $18 million budget, so our share is 44%. After deducting the distributor and theater profits, we take about half of the total earnings, right?”
“That sounds about right.”
“If it’s $200 million… with today’s exchange rate at 740 won, that’s 148 billion won. Half of that is 74 billion, and 44% of that is about 33 billion. Isn’t that a sixfold return?”
Oh Se-hyun blinked in surprise. Adults are always amazed by a kid’s mental math skills. One advantage of being young is that my brain works very smoothly.
“Compared to the returns from Microsoft or Dell, it’s not much, is it?”
“Well, that’s true. But a sixfold return in a year is still a huge success. And the $200 million is just from the U.S. market. Once it opens worldwide, it’ll earn at least twice as much.”
“Uncle.”
“Yes?”
“Tell the New York Miracle employees to work better.”
“Why? They work day and night.”
“Not just hard, but well! The lowest return on my investments is sixfold. What’s the return rate on the investments managed by those employees?”
“Well, that’s…”
“Only 22%, right?”
Oh Se-hyun fell silent. It was my father who saved him from his silence.
“Hey! Don’t you know I’m busy? What’s so urgent that you keep calling me?”
My father burst into my room, taking off his coat as he spoke.
I heard he was running around trying to secure theaters for two films his production company made.
“What? Still can’t get a theater?”
“Ugh, don’t even ask. All the theaters are holding out for the holiday season.”
“What? They’re not fully booked?”
“They’re waiting for the perfect holiday movie. Last year’s Christmas mega-hit. Home Alone. An American film.”
“Is that movie really worth holding theaters for?”
Oh Se-hyun’s playful side emerged.
“It’s a family comedy. Perfect for the holiday season. Plus, it’s already proven itself in the U.S., breaking all-time comedy box office records.”
“So, you can’t screen your movie because of that?”
“They’ll screen mine once Home Alone is out of theaters.”
My father’s expression was not good, clearly frustrated by the situation.
“Damn, and there’s supposedly a Korean distributor for this film, but no one knows who it is. The whole film industry is in chaos. I need to meet the person holding the film to adjust the dates or secure a theater… It’s driving me crazy.”
Enjoying the moment, Oh Se-hyun shifted to a serious tone.
“First, you should bow to me.”
“I don’t have time for jokes. Just get to the point.”
“What if I know who the Korean distributor for that blockbuster is? Still not in the mood to bow?”
“What?”
Oh Se-hyun handed a document to my startled father. My father quickly snatched it and began reading, swallowing hard.
“This, this is…”
“Have you forgotten all your English? Can’t understand it?”
My father’s eyes were glued to the company name printed in the signature section at the bottom of the document.
“What on earth… How did this happen?”
“Just sign it, and Home Alone is yours. If you don’t want it, forget it.”
As Oh Se-hyun tried to take the document back, my father quickly signed it and tucked it away. The fact that he didn’t even ask for details before securing the contract showed how urgent the situation was.
“Father. Screen your films first during the holiday season instead of that one.”
Both of them turned their eyes to me.
“What if you offer Home Alone to the theaters that screen your films? Isn’t the holiday season the peak time?”
As soon as I finished speaking, Oh Se-hyun burst into laughter.
“Listen to your son. From now on, pay attention to what Do-jun says and follow his lead. You won’t fail. Haha.”
My father looked between the document and my face before speaking.
“Do-jun, let’s talk more about this after I handle this.”
He grabbed his coat and rushed out. It was clear how urgent it was.
“Ah, that guy… Still the same.”
“What is?”
“Huh? Oh, your father. Once he gets fixated on something, he doesn’t see anything else. Back in his London days, if he found a good play, he’d watch it dozens, even hundreds of times. Right now, all he can think about is getting his films into theaters. He didn’t even ask why we have Home Alone.”
“Being focused is a good thing, isn’t it?”
I held up the paper with the $200 million box office earnings.
“Uncle. Let’s invest all this money into the films going into production this year. First, let’s make a list and get opinions from the U.S. side. Then we can decide and proceed.”
“All of it? Do-jun, aren’t you satisfied with one big gamble…”
Oh Se-hyun trailed off.
He must have realized it wasn’t his place to advise someone with a 600% return when he only had 22%.
Advice is best given from above, looking down.
And “above” isn’t about age. It’s about results.
“Alright. Let’s start by securing a list of films being planned or produced in Hollywood. If Miracle wants it, Hollywood producers will be eager to offer it.”
Oh Se-hyun packed his bag and left.
I also need to focus more on my studies until I graduate middle school. I have to maintain top grades to meet Chairman Jin’s expectations.
For the next three years, all I need to do is pick successful films, so it’s a leisurely task.
In a family with so many ups and downs, I just hope nothing extraordinary happens.
A few days before the Lunar New Year holiday, a newspaper with the highest circulation published an editorial with a unique perspective.
“Is the Management of Ownerless Companies Reckless? A Structural Weakness of Large Corporations with Professional Managers?”
“Last year, Ajin Motors’ performance was excellent.
…Omitted.
Ajin Motors, with its professional management system, should have rewarded its shareholders with substantial dividends. However, the management was more focused on expanding their own influence than on shareholder profits.
They established new subsidiaries like Ajin Machinery and Ajin Precision, pouring Ajin Motors’ funds into these companies.
For whom? Obviously, for the expansion of the management’s influence.
Now, dozens of new executives have been born. Will they fill their own pockets or those of the shareholders?
But, somehow, I can’t trust their decision. Is it just my old-fashioned worry?”
Chairman Song Hyun-chang of Ajin Motors threw the newspaper aside and pressed the intercom, shouting.
“Call all the executives! And the head of PR! Right now!”
A few minutes later, after pacing his office in anger, a knock was heard, and a dozen people rushed in.
There was a sofa that could seat only eight, but no one dared to sit. The chairman was standing.
Some of them were holding newspapers.
“What is this? Who did this?”
Chairman Song snatched a newspaper and shook it.
“I’m, I’m sorry. We’re looking into it right now.”
Among the people who couldn’t even lift their heads or meet his eyes, there was a man trembling like a leaf.
Judging by his lack of gray hair, he was likely the head of PR.
“Don’t we advertise with the Daily Korea anymore?”
The same man answered the chairman’s question.
“No, we do. Regularly…”
“Then you’re saying we got stabbed in the back despite paying them? Damn it!”
Chairman Song, biting his lip and breathing heavily, shouted at the head of PR.
“Hey! PR!”
“Yes, Chairman.”
“Go find out what those pen-pushers want, whether it’s money or women, and get it done.”
The head of PR bowed and hurriedly left the chairman’s office.
“Chairman, I think you’re overreacting. Isn’t this just a tactic newspapers use to demand more ads?”
“Our new car is a huge hit, so they’re probably trying to take credit. A week of full-page ads, and it’ll all change.”
The executives, cautiously trying to calm Chairman Song’s anger, only added fuel to the fire.
“You fools! What are you talking about? If that were the case, they’d criticize our product, not the management. Are you in your right mind?”
Only then did everyone snap to attention.
The media knows its boundaries. When they want something, they attack the product, not the people. Products don’t have feelings, but people do.
Especially attacking the management is akin to declaring war.
“This is suspicious. Something’s up.”
Pacing the office, Chairman Song cast a sharp glance at the executives.
“Find out who’s behind this by lunchtime. I trust you can gather that much information.”
Once the executives left the office, Chairman Song slumped onto the sofa.
He had felt uneasy last night… and the feeling hadn’t gone away.
Chairman Jin folded the newspaper and set it aside on the dining table before picking up his utensils.
As expected, the editorial from the Daily Korea’s chief editor was impressive.
Establishing subsidiaries to produce key components for the increased number of cars was a natural business move.
Yet, they twisted it to make it seem like the professional managers were creating unnecessary subsidiaries to promote their own people.
The article skillfully painted Ajin Motors’ management as unethical and suggested that large corporations without an owner are like ships without a rudder, catching two birds with one stone.
Chairman Jin, enjoying his breakfast for the first time in a while, headed to his study, where Lee Hak-jae, who had also been reading the newspaper, stood up and bowed.
“My friend, just have breakfast here. Can’t I share a meal with you?”
“Do you think I can eat properly while sharing a table with the chairman? I’ll just take your word for it.”
Chairman Jin glanced at Lee Hak-jae’s smiling face and said, “How is it? Did I choose well?”
“Yes, it’s a fitting start.”
“When’s the second phase?”
“The day before the Lunar New Year holiday, all the major newspapers will launch their attack. We need to make Ajin Motors the talk of the holiday gatherings. Our goal is to have people discussing Ajin Motors over their meals.”
“What about the National Tax Service?”
“We’re negotiating. If we push too hard, it’ll be too obvious. We don’t want others to start drooling over it either.”
“We can’t let someone else reap the benefits of our hard work.”
Chairman Jin nodded in agreement. “Yes, just enough to shake up the management. Our ultimate goal is Chairman Song Hyun-chang’s resignation.”
Lee Hak-jae carefully observed Chairman Jin’s expression as he pulled out a thick report. “Here’s the report you requested. It’s prepared by the Sunyang Economic Research Institute.”
Chairman Jin only glanced at the title: “The Need for Structural Reorganization in the Domestic Automotive Industry and Government Support Measures.”
“How is it? Useful?”
“They did a good job.”
“Those researchers are a peculiar bunch. It’s well-made, but it took them eight months to put this together?”
“The issue is significant and sensitive, so they were cautious not to leave any loose ends. Since it turned out well, let’s move on.”
“Move on, you say? Afraid I might go after them too?”
“You seem a bit on edge these days. My apologies.”
“You’re the one who’s tense, gearing up for a big fight. Why? Feeling the adrenaline?”
Lee Hak-jae scratched his head with a grin. “Isn’t a surprise attack more thrilling than an all-out war?”
“Ambushes are for the smaller ones to take down the big ones.”
“Less bloodshed, too. We’ll have to start the full-scale battle soon.”
Chairman Jin could sense the determination in Lee Hak-jae’s intense gaze. Initially hesitant and warning of the risks, now he was more excited than the chairman himself as the fight began. A natural-born fighter, indeed.
Chairman Jin felt a twinge of sympathy. If Lee Hak-jae’s parents had been nobility, he would have been a formidable ruler. But with commoner parents, his role was limited to being an exceptional hunting dog.
As these thoughts crossed his mind, another fighter came to mind. That one’s grandfather was a lord with vast territories. Watching how he would grow… it was something Chairman Jin looked forward to with great interest.