“Are you saying there’s no way out of this?”
Lee Hak-jae’s tone shifted, now sounding as if he were addressing a subordinate.
“It’s not my job to find a solution. All I can do is transfer the money to the original investor’s linked account. Retrieving it from there is your responsibility, isn’t it?”
“Are you suggesting we stick to the book? You do realize we’re talking about a billion won here, right?”
“People like me, who handle money, don’t concern ourselves with the dirt on it. We just focus on growing it.”
Tired of the back-and-forth, Oh Se-hyun cut the conversation short.
“Just give me the initial investor’s account details. I’ll transfer everything within an hour. If it’s a foreign account, I’ll send it in dollars.”
With nothing more to say, Oh Se-hyun stood up abruptly and left the room.
Left alone in the conference room, Lee Hak-jae pulled out his phone and stepped outside.
“Dig into a company called Miracle Investment in Yeouido. They have a headquarters in the U.S., so check there too. I want everything—capital, company members, shareholder lists, and investment details.”
He instructed his staff and then called the National Tax Service.
“Director, this is Lee Hak-jae from Sunyang.”
He requested company details from the tax director and then rushed to see Chairman Jin.
He figured it was best to come clean and get instructions from Chairman Jin, given Miracle’s likely connection to Jin Do-jun.
“That Sumitomo explosion must be giving you a headache. Are you alright?”
“Oh, my dear Do-jun. You’re the only one I can count on. All my other grandkids just want to drain my money, but you’re the only one who cares about me and the company.”
I’m just a middle schooler, while most of the third generation are adults. Especially in this family, once they hit high school, they’re like money-eating machines.
Those who went abroad for high school in Europe or the U.S. spend on tuition and living expenses like it’s a CEO’s salary.
“Do-jun, you’ll be in high school after one more semester, right?”
“Yes.”
“Have you talked to your father about it? Are you looking at schools?”
“No, I’m just planning to go to a regular high school. I don’t think I need to study abroad.”
Chairman Jin frowned.
“Your father doesn’t care, does he? I knew it.”
Even my older brother, Sang-jun, didn’t study abroad. He went to a prestigious private high school that only the wealthy and powerful attend.
Back then, Grandpa didn’t care. Or did he? Maybe the parents handled the school issues themselves.
“Grandpa.”
“Don’t say anything. I’ll look into a prestigious school in Switzerland for you. I’ll send you to the best school in the world.”
“No, that’s not it. I just want to go to Seoul National University.”
“What? Seoul National?”
Grandpa’s expression changed at the mention of Seoul National University.
“Yes. It’s where the brightest minds in our country gather. The highest scores are in law or medicine… but since I’m going into humanities, I’ll aim for law.”
“Law? Are you planning to become a judge or prosecutor?”
Grandpa’s face was a mix of surprise and concern as he confirmed my dream.
“No way. You know my dream, Grandpa. I want to be a business executive.”
“Then why law school?”
His expression relaxed, now just curious.
“So you can brag about it, Grandpa. There aren’t any heirs of big companies who study law at Seoul National University, right?”
Grandpa was speechless, his eyes wide with disbelief.
At a Federation of Korean Industries meeting, the chairman of Daehyun Group had bragged endlessly about his eldest grandson getting into Seoul National University. It became the talk of the day.
Everyone knew the tricks he used to get in, yet listening to his bragging was infuriating.
Rumor had it that he mobilized not only his secretaries but also a dozen journalists to infiltrate Seoul National University. They cornered the university officials, and just before the 6 PM deadline, they submitted the application to the department with the lowest competition. That’s how he got into something like Eastern Philosophy or Eastern History.
Even if it was the department with the lowest cutoff, it still required decent grades. But without those tricks, he wouldn’t have made it past the gates of Seoul National University. Most would have ended up at Y or K University.
But even for a chaebol chairman, a grandfather’s pride is the same. His bragging didn’t stop for a year. That tiresome boasting.
But Seoul National University’s law school is different. No tricks work there. It’s universally acknowledged.
“Are you serious? You’re applying to Seoul National Law School for me?”
“Of course. Why else would I apply to law school if I’m not planning to be a judge or prosecutor?”
Grandpa’s expression was one I’d never seen before. Who knew a face could be so expressive?
“There are plenty who make money and grow my wealth, but none who bring me joy. Yet my youngest grandson not only makes me happy but moves me.”
He looked like he might cry at any moment.
“Alright. Just get into Seoul National Law School. I’ll give you whatever you want as an entrance gift. Yes, yes. Get in, and then you can study abroad at a prestigious foreign university. After all, those who study abroad in high school are just those who can’t get into our country’s top universities.”
I wanted to tell him to remember those words, but I held back. I don’t want a common foreign car; I want the power of the Sunyang Group chairman as my entrance gift.
“I called you here not for anything else but to check on your money. I need to confirm something.”
Grandpa, having composed himself, lowered his voice and brought up the topic I expected.
Oh Se-hyun had told me yesterday about Lee Hak-jae’s visit and mentioned that Grandpa would likely want to confirm things with me soon.
He’s using my money as an excuse to check on his slush fund.
“Yes, go ahead, Grandpa.”
“I understand all your money is tied up in a company called Miracle Investment.”
“Yes, that’s right.”
“And the head of that company is Oh Se-hyun.”
I decided it was better to get ahead of this, so I spoke quickly.
“Oh, don’t misunderstand. Uncle Se-hyun told me when he left PowerShares.”
“So, do you know how Miracle operates inside and out?”
“Not everything, but I know where and how my money is invested.”
“Really? How’s it doing? Have you made any money?”
Even now, he shows curiosity. What a remarkable man.
“They say it’s much better than bank interest.”
I invested nine million dollars in Dell Computers, which grew to 1.1 billion dollars. Even at the current exchange rate of 800 won, that’s 880 billion won. Microsoft stocks have quadrupled.
When SoftBank goes public next year, the 230 million dollar investment will triple.
The money invested in films is doubling every year.
By the time I enter college, it’ll easily surpass two trillion won.
But I can’t reveal this now. There’s a right time to release information—for maximum impact and effect.
“Well… so it’s grown by over 10% annually.”
“Yes, it averages around 20%. But Grandpa, is there a problem? Why are you asking…?”
“Oh, no. I just wanted to confirm how close you and Oh Se-hyun are. It’s important, given the large sum of money involved, isn’t it?”
“He’s my father’s closest friend and like family to me. And… there are dozens of other investors, and I’ve heard their investments are much larger.”
Even this much should be enough for someone as perceptive as him to understand.
“Really? There are others? Do you know who?”
“No, but he mentioned the investment amount. He said about a hundred billion won came in at once… That’s why he decided to change companies.”
“A hundred billion won?”
“Yes.”
“I see.”
He seemed somewhat relieved to confirm that the hundred billion won was still untouched.
“Do-jun, could you do this old man a favor?”
“Of course. What is it?”
“If you ever think Oh Se-hyun is using the investment funds suspiciously, could you let me know immediately? It’s a significant amount, so I’m a bit worried.”
“Well, I don’t think that will happen… but sure, I’ll let you know if anything seems off or if I’m unsure.”
“Good, good. Haha.”
Finally, Grandpa looked relieved. He had bought time until a way to retrieve the slush fund emerged.
I couldn’t help but smile.
A hundred billion won. Though it’s tied up in the company, it’s available for use at the company level anytime.
Grandpa, thank you! I’ll make good use of it.
“For now, money isn’t an issue. Have you looked into the U.S. side?”
“Yes. There’s no way to know the shareholder structure of Miracle Investment. It’s an unlisted company, and it’s in the U.S. The Korean branch is just a shell.”
“A shell?”
“Yes. It’s a corporation in name only, more like a branch office. The money invested in Korea is directly from the U.S. headquarters.”
“So, a company whose owner we don’t even know is holding my money.”
“I’m sorry, Chairman.”
Lee Hak-jae hung his head in despair.
Losing about a hundred billion won due to a company’s management failure isn’t a problem. It’s company money, after all.
But this money is entirely the chairman’s personal wealth. Safely siphoning a hundred billion won from the corporation is as challenging as succeeding in a multi-trillion won business.
“We’ve bought time, so just find a way.”
At the chairman’s firm voice, Lee Hak-jae stood up instinctively.
“Yes, Chairman!”
“Sit down.”
Once seated again, Lee Hak-jae pulled out a report.
“There’s an urgent message from the Japan branch. It seems Sumitomo is about to make an unexpected decision.”
Chairman Jin skimmed through the report, his eyes widening in surprise.
“Shutting down the epoxy production line for semiconductors?”
“Yes. Even though we have a monopoly, the revenue is only a few billion won, and they think it’s better to shut it down than to constantly risk explosions.”
“This… isn’t this a bigger problem?”
“They plan to transfer the technology before closing. It seems they have no regrets.”
“Well, it makes sense. If an explosion happens, it could damage other production lines, and the insurance costs would skyrocket. The money made from selling epoxy resin wouldn’t even cover the insurance.”
Chairman Jin placed the report back on the desk and let out a chuckle.
“When you think about it, the Japanese are quite considerate. If it were us, we’d have hiked the prices tenfold.”
“If they did that in Japan, they’d be criticized by their business partners. That’s what they fear the most. Plus, there are antitrust regulations.”
“Thanks to that, we’ve had it easy.”
Lee Hak-jae cautiously observed Chairman Jin’s reaction before speaking.
“There’s a decent epoxy resin company in Cheonan. We could fund them and have them acquire Sumitomo’s technology.”
“Make it ours?”
“Yes. We’d avoid the risks and gain control over semiconductor epoxy. It could be a strategic asset when needed.”
“True, but… isn’t it too obvious?”
“Once we’ve secured enough stock, we could stage a little ‘accident’ on the production line…”
“Disguise it as an unavoidable mishap?”
“It happens all the time. Heh heh.”
As Lee Hak-jae’s sinister laugh echoed, Chairman Jin’s lips curled into a smile.
It was quite a tempting proposition.