Chapter 40: Is That Your Way of Saying There’s No Solution?

“Are you saying there’s no way to do it?”

Lee Hak-jae, having regained his composure, now spoke with a slightly different tone, as if addressing a subordinate.

“It’s not my job to find that way. My job is simply to send the money to the original investor’s linked account. It’s the chief of staff’s job to retrieve the funds from that account, isn’t it?”

“Are you suggesting we go strictly by the book? Don’t you realize that a transaction of a trillion won is hardly normal?”

“Someone like me, who handles money, doesn’t even check for stains on the bills. We just move it around.”

Growing tired of the bickering, Oh Se-hyun ended the conversation abruptly.

“Just give me the original investor’s account details. I’ll transfer everything within the hour. If it’s a foreign exchange account, I can send it in dollars.”

As if to emphasize that there was nothing more to say, Oh Se-hyun stood up abruptly and left.

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 right now. Since their headquarters are in the US, dig into that too. Everything—capital, personnel, shareholder list, investment destinations.”

After giving instructions to his staff, Lee Hak-jae called the National Tax Service.

“Commissioner, this is Lee Hak-jae from Soonyang.”

He requested information about the company’s records from the Commissioner of the National Tax Service and then hurried back to Chairman Jin.

He figured it was better to lay out the facts and receive instructions from Chairman Jin. Miracle was likely deeply connected to Jin Do-jun.

* * *

“The Sumitomo explosion must be giving you a headache. Are you alright, sir?”

“Oh, my dear Do-jun. You’re the only one I can rely on. All the other grandkids are just trying to bleed this old man dry, but only you worry about me and the company.”

I was the only middle schooler; most of the third generation were adults. Especially the kids in this family were money pits once they hit high school.

Those who went to Europe or the US for studies early on spent a considerable amount, from tuition to living expenses—easily the annual salary of a subsidiary president.

“Our Do-jun, you’ll be going to high school in just one semester, right?”

“Yes.”

“Have you talked with your father about it? Are you looking into schools?”

“No, I’m planning to just go to a regular high school. I don’t think I need to study abroad.”

Chairman Jin frowned.

“See, your father doesn’t even pay attention. I knew it.”

My older brother, Sang-jun, hadn’t studied abroad either. Of course, he’d gotten into a prestigious private high school that only the wealthy and powerful could afford.

Even then, Grandpa hadn’t paid attention. Or… hadn’t he paid attention before that either? Had the parents simply taken responsibility for their children’s education?

“Grandfather.”

“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 plan to go to Seoul National University.”

“What? Seoul National University?”

At the mention of Seoul National University, Grandfather’s expression changed.

“Yes. Isn’t that where all the top students in the country gather? The highest-scoring departments are law and medicine… but I’ll be going into humanities, so I’m aiming for the law department.”

“L-Law? Are you perhaps aiming to become a judge or prosecutor?”

Grandfather, with an expression half surprised and half worried, reaffirmed my ambition.

“Come on, no way. You know my dream, Grandfather. My goal is to be a business manager.”

“Then why are you saying you’ll go to law school?”

His expression eased somewhat, now only curiosity remained in his eyes as he looked at me.

“So you can brag about it, Grandfather. Isn’t it rare for a chaebol heir to be good enough at studying to get into Seoul National University’s law department?”

At this absurd answer, Grandfather seemed speechless, his eyes turning blank.

How much had the chairman of Daehyun Group boasted at the Federation of Korean Industries meeting?

The fact that his eldest grandson had entered Seoul National University had become the topic of the day at the FKI meeting.

Knowing what kind of underhanded tactics he’d used to get in, listening to his bragging made my blood boil.

Rumor had it that he’d mobilized not only his secretarial staff but also over ten reporters covering Seoul National University and the economy, deploying them to the university.

They’d latched onto university officials, conducting intense investigations, and then, just before the 6 PM deadline, had chosen the department with the lowest competition rate and successfully submitted the application right before the application window closed. The department he’d gotten into was something like Eastern Philosophy or Eastern History.

Of course, even the departments with the lowest cut-off scores at Seoul National University required above-average grades, which couldn’t be denied.

But if he’d used normal methods, he would never have crossed the threshold of Seoul National University; at best, he would have gone to Y or K University, like most others.

But since even the chairman of a chaebol was the same when it came to his grandson, his bragging hadn’t stopped even after a year. That tiresome bragging.

But the law department at Seoul National University was a different story. Underhanded tactics wouldn’t work there. Everyone would have to acknowledge it.

“Is that your honest intention? You’re applying to Seoul National University’s law department because of me?”

“Of course. If I weren’t going to be a judge or prosecutor, why would I apply to law school?”

Grandfather’s current expression was truly one I’d never seen before. Who knew the face of the “Iron Face” could be so dynamic?

“There are many who make money and increase my wealth, but no one gives me joy. Our youngest grandson makes this old man feel not just happy, but deeply moved.”

He looked like he might even shed tears.

“Alright. Just get into the law department at Seoul National University. Whatever you want for your entrance gift, I’ll get it for you. Heh-heh. That’s right, that’s right. Get in there, and then go study abroad at a prestigious university, sure. Anyone who studies abroad in high school is just someone who isn’t confident enough to get into a top university in our country anyway.”

I wanted to tell him to remember those words, but I held back. Not just a fancy foreign car, but the power of the Soonyang Group’s chairman—that was the entrance gift I wanted.

“The reason I called you here isn’t about that, but about your money. There’s something I need to check.”

Having composed himself, Grandfather lowered his voice and brought up the topic I’d anticipated.

Oh Se-hyun had told me in detail about Lee Hak-jae’s visit yesterday, not forgetting to mention that they would likely be checking with me soon.

My money was just an excuse; he definitely wanted to check if his slush funds were safe.

“Yes, please tell me, Grandfather.”

“I understand that all your money is currently invested in an investment firm called Miracle something.”

“Yes, that’s right.”

“And the CEO of that company is Oh Se-hyun.”

Thinking it was best to take the initiative, I spoke quickly.

“Ah, please don’t misunderstand. Uncle Se-hyun told me when he was leaving Power Shares.”

“Then do you know the ins and outs of how Miracle operates?”

“Not everything, but I know where and how my money is invested.”

“Really? How’s it going? Have you made some money?”

Even in this situation, he showed curiosity. What a remarkable man.

“He said it’s much better than bank interest.”

An investment of nine million dollars in Dell Computer had grown to 1.1 billion dollars. Even with the current exchange rate of 800 won, that’s 880 billion won. Microsoft stock had also quadrupled.

When SoftBank goes public next year, the 230 million dollar investment will triple.

The money invested in movies was doubling in size every year.

By the time I enter university, it will easily exceed two trillion won.

But I couldn’t reveal this information now. There’s a right time to release information—the most shocking and effective moment.

That’s when it exerts the greatest power.

“Hmm… you’re saying it’s grown by more than 10 percent annually.”

“Yes. It should be around 20 percent on average. But Grandfather, is there some kind of problem? Why are you asking…?”

“Ah, no, it’s nothing. I just wanted to confirm the strength of your relationship with Oh Se-hyun. He’s handling a lot of money, so it’s important, wouldn’t you say?”

“He’s my father’s closest friend and like family to me. And… I heard there are dozens of other investors, and their investments are much larger than mine.”

Even this much should be enough for someone perceptive to understand, right?

“Really? There are others? Do you know who they are?”

“No. But he did mention the investment amount. He said around 100 billion won came in at once… that’s why he decided to move companies, I heard.”

“One hundred billion won?”

“Yes.”

“I see.”

Confirming that the 100 billion won was safely tucked away, his expression seemed somewhat relieved.

“Do-jun, will you do this old man a favor?”

“Of course. Please tell me.”

“If you think Oh Se-hyun is using the investment funds suspiciously, can you tell this old man immediately? It’s a considerable amount of money, so I’m a little worried.”

“Hmm, I don’t think that would happen… but anyway, I will. If anything seems suspicious or if I don’t understand something, I’ll let you know right away.”

“Yes, yes. Heh-heh.”

Only then did Grandfather wear a relieved expression. It was safe until a way to recover the slush funds emerged.

A happy expression also crept onto my face.

It was a whopping one hundred billion won. Although the money was tied up in the company, the company could use it at any time.

Thanks, Grandfather! I’ll put it to good use.

***

“We’re good on funds for the time being. Have you looked into the US side?”

“Yes. The shareholder structure of Miracle Investment is impossible to ascertain. It’s a private company, and it’s based in the US. The Korean corporation is just a shell.”

“A shell?”

“Yes. It’s a corporation in name only; it’s essentially a branch office. Funds invested in Korea also come directly from the US headquarters.”

“So, a company whose owner we don’t even know is holding my money, is that what you’re saying?”

“I apologize, Chairman.”

Lee Hak-jae lowered his head in dismay.

Losing about 100 billion won due to a company’s business failure wouldn’t be a problem. After all, it’s company money.

But this money was entirely the chairman’s personal wealth. Safely siphoning off 100 billion won from the corporation was as difficult as succeeding in a multi-trillion won business venture.

“We’ve bought ourselves some time, now find a solution.”

At the chairman’s firm voice, Lee Hak-jae stood up involuntarily.

“Yes, Chairman!”

“Alright, sit down.”

Lee Hak-jae sat back down and took out a report.

“An urgent report from the Japan branch. It seems Sumitomo is going to make an unexpected decision.”

Chairman Jin, after skimming the report, widened his eyes in surprise.

“Closing down the epoxy production line for semiconductors?”

“Yes. Even though they have a monopoly, the sales are only around 20 to 30 billion won, and considering the constant risk of explosions, it seems they’ve decided it’s better to shut it down.”

“This… isn’t this an even bigger problem?”

“They say they’ll transfer the technology before closing. They seem to have no lingering attachment.”

“Well, I suppose it makes sense. If there’s an explosion, it impacts other production lines, and the insurance premiums skyrocket. The money they make selling epoxy resin probably isn’t enough to cover the insurance.”

Chairman Jin placed the report on the desk and chuckled.

“When you see things like this, you realize the Japanese are quite naive. If it were us, we’d raise the price tenfold.”

“If they did that in Japan, they’d be ostracized by the companies they do business with. Isn’t that what they fear most? There are also regulations against monopolistic companies.”

“It’s made things easier for us.”

Lee Hak-jae carefully observed Chairman Jin’s reaction before speaking cautiously.

“There’s a decent epoxy resin company in Cheonan. I was wondering if we could provide funding for this company to receive technology transfer from Sumitomo.”

“Make it ours?”

“Yes. We avoid the risk and gain control of semiconductor epoxy. Couldn’t we use it as leverage when needed?”

“That’s true… but wouldn’t it be too obvious?”

“After securing enough of our own stock, we can make the production line go boom—”

“And disguise it as an unavoidable accident?”

“It happens frequently, after all. Heh-heh.”

At Lee Hak-jae’s sinister laughter, the corners of Chairman Jin’s lips curled upwards.

“That’s quite a tempting idea.”