[068] The Length of the Claw 3
“A theater?”
“Yes.”
“Do-jun, wouldn’t a high-rise building be better than a theater? If it’s in a good location, the rent alone could be more profitable than most companies.”
My aunt, always the dreamer.
She talks as if her husband is already the mayor of Seoul, with grand plans and all.
“No, I’m thinking of a theater with a different concept. Something new.”
I doubt she knows what a multiplex is.
No point in explaining something she won’t understand.
“Oh my, Yoon-gi is really lucky with his kids. He funds his father’s ventures, and now he’s even planning new businesses for him… I’m envious, truly.”
“Right? We have three kids, and all they do is spend our money and stay out all night… Tsk tsk.”
Listening to their lament about their ungrateful children is exhausting.
“Aunt, should I casually bring it up with Grandpa?”
“What? No, don’t!”
I gave her a sly smile as she jumped in protest.
“We need to understand why Grandpa is against it. Only then can we persuade him to change his mind.”
“No, don’t do it.”
She jumped again, clearly worried.
It seems she’s grooming her husband for politics to counter Grandpa’s opposition.
“Alright, alright, I won’t say a word to Grandpa.”
I mimed zipping my lips.
“Uncle, you check the funds you can spread around the ruling party, and I’ll see what resources I can gather.”
My aunt and uncle looked at me with eyes full of hope, as if I were their savior.
Maybe making him the mayor of Seoul wouldn’t be such a bad idea.
“Do-jun, can we talk for a moment?”
“Oh, I’m late, aren’t I? Sorry for leaving you alone. I’ll try to be more punctual.”
“I’m not the kind of father who fusses over a grown man’s curfew.”
It’s been a while since I’ve seen my father with such a serious expression. For the past decade, no matter how tough things got, he never lost his smile… or maybe things weren’t that tough? Thanks to a good son, he’s been on a winning streak.
I should find out what nonsense my aunt spouted. But my father brought up something unexpected.
“Your uncle came by this afternoon. Then your aunt in the evening. They talked about different things, but the conclusion was the same.”
“The same conclusion…?”
He smiled slightly.
“Seems you’re more curious about the conclusion than the story.”
“The process isn’t what’s important.”
“As expected, you’re different from the rest, my son.”
Despite his gentle voice, his smile had vanished.
“Shall we have a drink? I think it’s time we had an open conversation.”
Before I could respond, he was already at the cabinet, choosing a bottle from the collection.
He poured a little into two glasses and handed one to me.
“Shall we toast?”
As I accepted the glass with both hands, his smile returned.
“What should we toast to?”
“Let’s see… the success of Titanic’s release next year?”
He shook his head slightly.
“Not me, you.”
“Me? I don’t really have anything…”
I shrugged, watching him closely. He seemed different.
“Alright, let me give you some options. Choose one. Over three trillion won in assets, acquiring Ajin Group, a powerful investment firm in Hollywood, or the boundless affection of the chairman of Sunyang Group. Which do you like best?”
Even without drinking, my face flushed red, then turned pale.
That loose-lipped uncle!
Or was I naive? It’s strange that he kept his best friend’s son’s secret for ten years.
“Your expression now is exactly how I looked when Se-hyun told me about you. Haha.”
He laughed heartily, as if it were no big deal, but I couldn’t find the words.
“Isn’t it odd? You’re my son, yet you’re nothing like me. I’m proud of my artistic and aesthetic sense, but you don’t even listen to pop music. On the other hand, I find money matters tedious, but you have an extraordinary talent for investment. How can we be so different?”
I downed my drink in one go. I needed to calm my racing heart to say anything.
“It’s okay. Take a deep breath if you need to. Or would you like another drink? Haha.”
He laughed, refilling my glass.
“At first, I was shocked, but then I felt proud. Not because you made a lot of money, but because of your incredible talent.”
“I’m sorry I didn’t tell you sooner.”
“I’m glad you didn’t. Would I have believed a middle schooler was handling billions and negotiating in fluent English?”
He watched my expression, speaking calmly.
“Anyway, I applaud what you’ve done. Honestly, it’s amazing! Well done.”
He clapped lightly.
“Now, let’s talk about the future. What’s your ultimate goal?”
“Well, I don’t have a specific goal or plan yet. I’m just trying to keep up with what’s coming.”
“Do you want to take over Sunyang Group?”
Should I be honest? Ask for help? I hesitated briefly. But it’s too soon.
Once one person knows, it’s only a matter of time before everyone does.
“That’s just a means to an end, not the goal itself.”
“Really? Then what’s your dream?”
“A top-tier global corporation that surpasses Sunyang… To build such a company, I’ll need to start new businesses and acquire promising subsidiaries from Sunyang and other conglomerates. I can’t limit myself to just Sunyang.”
“Acquire?”
“Yes.”
“Hey! Do you think Sunyang Group is a corner store? A neighborhood supermarket? You think you can just buy it?”
“Father, inheriting Sunyang Group isn’t what I want. People would just say I’m a lucky kid born into a chaebol family.”
“So you plan to buy Sunyang’s prime companies?”
“If they’re truly valuable. But for now, it’s just a dream.”
Did it sound convincing?
I hope my true intentions—to have all my father’s siblings and cousins scrambling at my feet—weren’t too obvious.
He seemed surprised, but also a bit proud.
After finishing his drink, he spoke.
“With that mindset, I don’t think there’s much I can do for you. I worried for nothing. Haha.”
“What were you worried about?”
“I was thinking about how I could help you achieve your dream. I even considered using the legal rights of one of the chairman’s sons if necessary.”
What is this? My rights as his son?
He stood up, giving my shoulder a light pat and smiling.
“Anyway, thank you. I was torn between fighting my brothers or negotiating for some subsidiaries, cash, or stocks… I thought a lot about it.”
Wait a minute? This is an unexpected new card.
“I didn’t want a messy fight or a humiliating negotiation, but since you don’t need it… Well, it’s late. I’m going to bed. You should too.”
He turned and headed upstairs.
“Ah, Father. That’s not fair. Wait a minute. Let’s talk a bit more. Please?”
I followed him up the stairs, calling after him.
I’ve never called him “Father” so earnestly before.
When I arrived at my grandfather’s house to discuss the merger of two car companies, I saw a dozen black sedans filling the parking lot.
This meant all the key figures of the group were gathered.
I waited in the living room for the meeting in the study to end.
I already had an idea of what the meeting was about.
The media had been reporting on the unsettling exchange rates, and there were warnings about the risky behavior of comprehensive financial companies using short-term foreign capital for long-term loans.
But the government kept ignoring these warnings.
They talked about Korea’s strong industrial structure and accumulated trade surplus, boasting about the famous “economic fundamentals.”
The finance minister’s rhetoric had a way of making people overlook the looming crisis.
But the tie-wearing warriors who felt the crisis firsthand knew better. They realized it was already too late and hoped the coming storm would be mild.
Just like the people gathered in the study.
“Not a single dollar, yen, or mark coming into the group should be spent. We need to settle the hot money with imminent foreign payments first.”
“The banks aren’t even considering releasing dollars. They’re holding on tight.”
“Export profits are good due to the rising exchange rate, but we’re holding off on converting them to won.”
The voices of the subsidiary presidents were urgent.
“Have you been in contact with the finance minister?”
Lee Hak-jae, sitting next to Chairman Jin, cautiously asked.
“You? Haven’t you spoken to him?”
“He’s avoiding my calls.”
“He knows your call is my call. That bastard is definitely dodging calls from businessmen.”
Chairman Jin clenched his fist tightly.
“How much money can we gather from within the group?”
“After settling the hot money by the end of the year, we’ll have a little over 400 billion won. Of course, foreign currency reserves are depleted.”
“A huge chunk went out for the Han Do Steel acquisition, and we’ve been pouring money into it ever since.”
Chairman Jin shouted at the subsidiary presidents.
“Don’t pay out any money. Collect what we’re owed immediately. And convert all our funds into dollars.”
The response was less than encouraging.
“Even if we offer above market rates, no one’s biting. Everyone’s just complaining they don’t have any dollars.”
The crisis was clearly no ordinary one.
Despite the chairman’s stern orders, no one seemed intimidated. When something’s impossible, it’s impossible. They needed to devise a new plan to survive.
“A singularity is coming. The exchange rate might hit two thousand, even three thousand won per dollar, and we still might not be able to get any.”
The study was steeped in silence. No one dared to speak. Or perhaps they simply couldn’t.
No one had anticipated that the financial crisis sweeping Southeast Asia would reach Korea.
And no one knew how to stop this tsunami.
It was then that Director Lee Hak-jae spoke up. He had realized where the lifeboat was.
“Chairman, about Ajin Group.”
“What? Have they stashed away a secret pile of dollars?”
“No, it’s the acquisition funds. One trillion two hundred billion won.”
Chairman Jin sat up straight, no longer leaning back in his chair.
“That’s right! That’s the miracle fund, isn’t it? They must have it in crisp dollars.”
“Yes. We can take those dollars and give them the one trillion two hundred billion won. We can cover any shortfall with bank loans. We have plenty of won, just no dollars.”
Faces around the room lit up. The miracle fund wasn’t just a lifeboat; it was a safe harbor from the tsunami.
“Moreover, we can issue Sunyang bonds to absorb all the dollars Miracle holds. If we offer interest higher than Miracle Investment’s annual returns, it should be feasible.”
Director Lee’s suggestion was met with a dose of realism from the Sunyang Life president.
“Director Lee, they must be aware of our country’s crisis. If the exchange rate doubles, they’ll make twice as much from currency gains alone. Why would they settle for bond interest?”
“We’ll pay the one trillion two hundred billion at the current exchange rate. I’m talking about the interest on their surplus dollars.”
The room buzzed with activity. Having found a glimmer of hope, they were eager to turn it into reality.
Then Chairman Jin burst into laughter.
“Haha! Everyone, stop. I can handle this.”
All eyes turned to him.
“I’m quite close with the owner of Miracle Investment. Heh heh.”