Chapter 25: Miracle Investments

“Who is it?”

“Oh Se-hyun, the Korea representative for PowerShares.”

“Aren’t they those money-grubbing guys?”

“You could say that.”

Chairman Jin Yang-cheol frowned as he skimmed through a few reports spread out on his desk.

“This guy, he’s Yoon-ki’s friend?”

“Yes, they studied together at Cambridge in England.”

A detailed profile of Oh Se-hyun landed in Chairman Jin’s hands.

“Do you think this guy has ulterior motives?”

“No. Like Yoon-ki… Do-jun’s money isn’t something he’d covet.”

“We’re talking about money here, what’s with this talk about character? Why are you so soft? No matter how highly you think of Yoon-ki.”

Of course, he knew his son had no greed for money but he couldn’t let go of his suspicion.

It was beyond stubbornness, it was absurd.

Lee Hak-jae scratched his head with a faint smile.

“Still, isn’t it remarkable? I thought he’d just park it in a bank and collect interest, but he went to an investment firm?”

“That’s what’s suspicious, why Yoon-ki’s friend of all people?”

Chairman Jin couldn’t shake the suspicion that this Oh Se-hyun character might be trying to scam his naive son.

“Hak-jae.”

“Yes?”

“Look into this friend.”

Lee Hak-jae took the photo of Oh Se-hyun that Chairman Jin handed him.

“I’ll take care of it. I’ll make sure there are no problems.”

As Lee Hak-jae bowed and left the study, Chairman Jin leaned back in his chair.

“This kid…”

Chairman Jin couldn’t help but smile.

It wasn’t that he didn’t trust his son Jin Yun-ki. He simply believed that thorough caution was never a bad thing.

Also, if the investment idea really came from that young grandson of his, he’d be bursting with pride.

That insatiable greed, not content with mere bank interest, was just like his own.

* * *

“This is Lee Hak-jae.”

“I’ve heard the name. Oh Se-hyun here.”

The two men exchanged business cards and sat down on the spacious chairs in the hotel lounge.

Oh Se-hyun’s tone was polite but his demeanor was confident.

Who was Lee Hak-jae?

He was the undisputed second-in-command of the Soonyang Group. It was widely rumored that even Chairman Jin’s eldest son, Vice-chairman Jin Young-ki, treated Lee Hak-jae with the utmost respect.

It was rare to see someone unfazed by his presence.

In Oh Se-hyun’s eyes, Lee Hak-jae was merely the head of a snake. No matter how big you were in Korea, it was still the periphery of the world. PowerShares was a global empire. At the very least, he was the tail of a dragon.

There was no reason for a dragon’s tail to lower itself to a snake’s head.

“Since you’re a busy man, I’ll get straight to the point.”

“You’re here about Do-jun, right? You should take a look at this first.”

Oh Se-hyun handed over two documents.

One was a guardian’s consent form and the other was a confidentiality agreement.

“To avoid any misunderstandings, let me say this upfront. Mr. Jin Yun-ki came to me first and Do-jun was the one who requested confidentiality. So even if you ask me where Do-jun’s funds are invested, I can’t answer.”

Lee Hak-jae was caught off guard by Oh Se-hyun’s preemptive strike.

There were many things to confirm but there was no point in questioning someone who declared they wouldn’t answer.

But he couldn’t just get up and leave either, this was a matter of pride.

“Just keep one thing in mind. Don’t even think about playing any games. If you mess around, I’ll… make you disappear.”

Oh Se-hyun’s eyebrows twitched for a split second but his sales-honed mindset didn’t falter. A smile quickly bloomed on his face.

“That’s a bit harsh for a request.”

“What?”

“Don’t push us around. We’re not some local community credit union… We’re not going to cower just because of the Soonyang name.”

Lee Hak-jae glared at Oh Se-hyun’s now smile-less face and said.

“Soonyang might be a small-time operation on the world stage but things are different in this country. I can send the National Tax Service, the Board of Audit and Inspection, and the Supreme Prosecutor’s Office’s special investigation unit all on a bus straight to your company. Keep that in mind.”

“Even a dog is a king in his own yard, is that it? I’ll keep that in mind, Chief of staff.”

Lee Hak-jae’s lips twitched at being called a dog.

“Then shall we get going?”

Oh Se-hyun rose from the sofa and extended his hand, which Lee Hak-jae lightly grasped.

Perhaps because he was younger, Oh Se-hyun showed a slight deference. He bowed his head slightly as Lee Hak-jae smirked and left the hotel first.

“Geez, what a pain. What’s with the attitude?”

Only when his back was completely out of sight did Oh Se-hyun exhale deeply.

As soon as Lee Hak-jae got into the waiting car at the hotel entrance, he picked up the car phone receiver.

“Chairman, it’s me.”

– So, did you meet him?

“Just finished meeting him. I don’t think you need to worry.”

– Really?

Chairman Jin’s voice brightened through the receiver.

“Yes, he’s got guts. He’s very proud of himself too. I’m sure he’s not the type to drool over Do-jun’s money.”

– That’s good. Meet him occasionally and share a drink or two.

“I was thinking the same. It wouldn’t hurt to get to know someone from PowerShares.”

After the call, Lee Hak-jae leaned back into the comfortable seat.

He realized once again that the world was full of talented people, like grains of sand on a beach.

* * *

In August 1989, in the Soviet-controlled republics of Lithuania, Latvia and Estonia, nearly two million demonstrators demanded democratization and independence, forming a 600-kilometer human chain connecting the capitals of each country, known as the ‘Baltic Way’.

That same autumn, while Korea was enjoying the abundance of the Harvest Festival, the Hungarian government opened its western border, triggering a mass exodus of East German citizens.

It was the signal flare announcing the fall of the Eastern Bloc.

While the world’s attention was focused on the rapidly changing Eastern Europe, I was busy planning my trip to the US.

Missing school wasn’t a problem. Since it was a school for children of the rich and powerful in our country, skipping classes to go abroad after the liberalization of overseas travel wasn’t an issue.

The important thing was the timing of establishing an investment company based in New York.

An investment firm where I was the major shareholder. A corporation where I owned 98% of the shares.

It was a company where Oh Se-hyun and his colleagues invested 2% in anticipation of getting early information from Chairman Jin.

Oh Se-hyun had assured me that everything would be finalized by the end of October, so there was no more room for delay. There was also someone I absolutely had to meet before 1989 ended.

When I brought up the idea of a trip to the US, my mother was thrilled, but my father was reluctant. He was incredibly busy setting up his movie company.

He had just started his first real job in his forties. Like a fresh graduate, he was a bundle of excitement and passion, a youthful spirit.

Even my rebellious teenage brother Sang-joon suddenly transformed into an obedient, attention-seeking son at the mention of America.

On November 3, 1989, the day the so-called ‘Industrial Beef Tallow’ incident broke out – the biggest scandal in the history of Korea’s ramen market, triggered by an anonymous tip to the prosecution claiming that Samyang Foods, the maker of the famous Samyang Ramen, was frying their noodles in industrial-grade beef tallow – Oh Se-hyun and our family boarded a first-class flight to New York.

* * *

“Sister-in-law, please get some rest. You can go sightseeing with Sang-joon and do some shopping. I have somewhere to be with Do-jun.”

“What’s going on…?”

“It’s nothing serious. I just need to briefly check on some investments Do-jun made in the US. He’s interested in this sort of thing, so I’ll take him along for the experience.”

As soon as we unpacked our luggage in the special suite of the New York Plaza Hotel, overlooking the Statue of Liberty, Oh Se-hyun hurried off.

Unlike my mother, who looked slightly worried, my brother Sang-joon showed no interest at all.

He takes after my father. He has absolutely no interest in money. Even when he found out I had over 10 billion won, he didn’t show any envy, only concern.

He worried I’d get caught up in the family’s ugly money fights.

“Oh, I’ve arranged for a guide. He’s also got a car ready, so you’ll be comfortable during your stay.”

Leaving the two behind, we headed out of the hotel.

As we took a taxi to Wall Street in Manhattan, I took in the sights of New York through the window. I would vividly capture the evolving and developing image of New York.

“The building’s a bit shabby, right? I got a cheap place to avoid wasting money on unnecessary things.”

Contrary to his words, the building looked incredibly luxurious to me.

Then again, in Manhattan, where global financial capital is handled, this building was probably considered cheap.

When we went up to the sixth floor, Oh Se-hyun stopped in front of a door with a small sign hanging on it.

Miracle Investment Inc.

Oh Se-hyun waved his hand, saying it was a cheesy name, but I wouldn’t budge on it. Because we were going to show them a real miracle.

The moment I saw the office, my whole body tingled with excitement.

My first company.

Here, I would nurture the giant that would swallow the Soonyang Group whole.

When we opened the door, three men in their thirties and one woman greeted Oh Se-hyun.

“James! Wow! Long time no see!”

They called out Oh Se-hyun’s English name and expressed their delight.

These were fund managers who used to work at PowerShares in New York, scouted by Oh Se-hyun.

The fact that they left a prestigious company to join a humble startup meant they weren’t exactly top-tier. Second-rate, maybe even third-rate.

Of course, having been with PowerShares meant they were quite capable but they were likely the ones who were lagging behind there.

They already knew I was the grandson of Korea’s largest conglomerate’s chairman, and they probably assumed the 10 billion won, or 15 million dollars, deposited into this company was some kind of slush fund from the Soonyang Group.

True to a new company, they immediately launched into a heated discussion about how to manage the fifteen million dollars and where to invest it.

In their conversation, names of global companies like IBM, Intel, Levi’s, Nike, and 3M came up, and the only female fund manager strongly recommended Microsoft.

Apple’s name didn’t come up.

Well, it was natural since Apple’s stock was hovering around $1 with no signs of rising.

Oh Se-hyun, who had been listening to their discussion, calmed their fervor and explained that my money would be used to reinvest back into Korea based on information provided by Chairman Jin of Soonyang, rather than investing in American companies.

As soon as Oh Se-hyun finished speaking, the four managers’ faces showed clear disappointment. They probably hadn’t quit PowerShares for this kind of work.

I pretended not to understand their conversation, acting disinterested, while trying to gauge their capabilities.

One thing was clear, the men preferred stable investments while the woman wasn’t afraid of taking risks. Perhaps the woman was the most talented of them all.

As the hour-long, heated discussion was winding down, I called Oh Se-hyun over.

“Uncle, just a moment.”

“Oh my, Do-jun must be bored. Sorry, I got carried away with work talk.”

“It’s okay. But can you take a look at this?”

I took a piece of memo paper out of my pocket and handed it to Oh Se-hyun.

“What’s this?”

“This is where our company will make its first investment.”

“What?!”

Oh Se-hyun, startled, snatched the memo and quickly unfolded it.

The four managers also noticed Oh Se-hyun’s unusual expression and gathered around the memo.

After confirming the memo, they exclaimed in unison.

“Michael Dell?”

“Michael Dell?”

“Dell? Dell Computer?!”