Chapter 47: Why Did You Submit a Letter of Intent?

“You…! This isn’t just a feeler, is it? Why submit a letter of intent?”

Lee Hak-jae’s voice boomed as he burst through the office door.

Oh Se-hyun chuckled, a wry smile playing on his lips as he casually packed his bag, unfazed by the outburst.

The air between them crackled with tension, like a clash between scorching heat and icy cold.

“Come on, someone your age should really try to keep their temper in check.”

“Don’t try to change the subject!”

“If this is about my broadcast, go back and watch the interview again, then get angry. A grandson wants to help his grandfather – that’s all I’m doing here.”

“What was that?”

“Go back to the drawing board. You benefited from this. Oh, sure, it’ll cost you a bit more, but it’ll give you a much stronger position when you’re trying to convince the review board.”

Lee Hak-jae simply stared at Oh Se-hyun, his expression blank.

“I’m busy, so I’ll be going now… I have a meeting with the creditor banks.”

As he watched Oh Se-hyun’s retreating figure, Lee Hak-jae snapped out of his daze and pulled out his phone.

“Find that broadcast with Miracle’s Oh Se-hyun. I need to watch it again when I get back to the Chairman’s residence.”

Sitting in the back of the car, Lee Hak-jae felt the weight of the thick laptop on his knees as he replayed the interview video countless times.

It didn’t take long for him to understand the helpful content.

Separately, Jin Do-jun and Oh Se-hyun were just unexpected competitors, but if Oh Se-hyun, understanding Chairman Jin’s intentions, had intervened, he’d significantly amplify public opinion.

Lee Hak-jae closed the laptop with a disbelieving chuckle.

“Ha, this is something else. I’ve become an irrelevant fool.”

As if sensing that his chuckle signified a breakthrough, the driver sped up, heading towards Chairman Jin’s residence.

After clearing his throat, he entered the study to find Chairman Jin deep in thought.

“Chairman.”

“Hak-jae, I don’t think this is something to just get angry about. It could be a useful spark…”

“Yes, Representative Oh’s intention was indeed to act as kindling.”

“What? Did he say that himself?”

“Yes. He says it’s a joint effort, created by Do-jun to help you, Chairman.”

Chairman Jin’s jaw dropped at his grandson’s name, but he couldn’t help but burst into laughter.

“Hahaha! Unbelievable… Everyone else is trying to bleed me dry, but my grandson is mobilizing an American investment firm to help me? What a remarkable boy!”

Lee Hak-jae waited for Chairman Jin’s laughter to subside.

One must cook rice when the firewood is blazing. Miss the moment, and only ashes remain. There’s much to do.

“Tomorrow, we’ll unleash a barrage of negative articles about Miracle Investment. We’ll plaster headlines with sensational words like profit-hungry corporate raiders, the dangers of speculative capital, and the outflow of national wealth.”

“And then?”

“We’ll send our people to every broadcast debate program. We’ll recruit half a dozen economics professors to emphasize the same points…”

“Subtly mentioning Daehyun’s name as well?”

“Yes. Daehyun Group already has enough steel mills, so their desire to acquire Hando Steel can only be seen as a ploy to seize the land. Isn’t their real intention to build apartments and sell them off…? Just throwing that out there will naturally group them together.”

Chairman Jin slapped his knee.

“Exactly! That’s it! This timing is perfect. I was hesitant to attack Daehyun directly, but Oh Se-hyun has opened the door and even provided the opportunity. Chairman Joo’s head must be spinning. Hahaha.”

“But there’s also a problem. We’ll have to raise the acquisition price a bit.”

The mention of money wiped the smile off Chairman Jin’s face.

“Why did that Oh Se-hyun have to blurt out such unnecessary things?”

2.5 trillion won.

The acquisition amount Miracle Investment had publicly revealed.

This figure would become a fixed point, constantly hindering Soonyang.

Moreover, if Daehyun Group bid 2.3 trillion won, it would be difficult to bid below 2 trillion won.

To avoid accusations of preferential treatment, they would need to bid over 2 trillion won to satisfy the creditor banks.

“It was unavoidable. To emphasize that they’re foreign speculative capital, they need to show that they’re throwing money around. A genuine bidder wouldn’t say such a thing.”

“Let’s see how things play out until the final bid. If it’s absolutely necessary, we’ll match 2 trillion won.”

“Yes, sir. Then I’ll call the public relations team to prepare.”

“Yes. Put in the effort.”

Left alone, Chairman Jin felt a lightness in his heart, as if he could fly. The joy of having a clever grandson in his old age made him feel a decade younger.

* * *

Sammi Group, ranked 26th among chaebols, with total assets of 2,537.8 billion won and sales of 1,492.5 billion won, ultimately defaulted on March 19th due to its inability to cover a mere 1.119 billion won promissory note.

Unaware that the real crisis was yet to come, South Korea’s eyes and ears were focused on the trials of two former presidents rather than the looming economic turmoil.

But I wasn’t interested in either. My concern was the freshman orientation party tomorrow.

I’d attended classes a couple of times since the entrance ceremony, but it was far from comfortable.

Perhaps because of the university entrance exam interview, everyone glanced at me, whispering amongst themselves, but not a single student approached me. Some upperclassmen even came to the lecture hall just to gawk at me before leaving.

I hoped that making connections with classmates and seniors at the orientation party would ease things. Since everyone already knew who I was, preparing a small event wouldn’t be a bad idea.

The next day, I arrived at school late in the afternoon, attended a couple of hours of lectures, and then headed to the student union cafeteria, the venue for the orientation party starting at 6 PM.

While the law department had nearly 400 students, less than half were in attendance.

Every year, Seoul National University accounted for half of the successful candidates for the national bar exam. As most students focused solely on passing the bar exam from the moment they entered, it was rare for them to actively participate in school events.

Did I overdo it with the event preparation?

I settled down at a corner table in the cafeteria, and the students around me started glancing my way again. My presence seemed unexpected.

Soju and beer bottles, along with a few soft drinks, sat on the table. A portable gas stove with a pot and grill were also there. They were probably planning to grill some pork belly.

The seniors were the boisterous ones, while an awkward silence hung over the freshmen.

If I only had the memories of a chaebol’s grandson, would I be sitting here awkwardly like this?

Just as I was pondering that, someone grabbed the microphone.

“Hello, everyone. I’m from the class of ’95…”

After the introduction from the department representative, a third-year student, and the greetings from the professors, the freshmen’s self-introductions began.

Each student announced their high school and shared a memorable characteristic or nickname to help the seniors and classmates remember them before passing the microphone.

These were the good times.

Most of the freshmen were from the provinces. It wasn’t a world where the children of wealthy Gangnam families monopolized prestigious universities. It was still a relatively equal world where someone could rise from humble beginnings and gain admission to a top university with good grades from a local high school. At least, for now.

When my turn came, I stood up and took the microphone. The entire student cafeteria seemed to freeze; the murmuring ceased, and all eyes locked onto me.

I bowed my head slightly as a greeting, then looked at the department representative and said,

“Sunbae-nim, would it be alright if I spoke for a bit longer?”

“Huh? Oh… sure, go ahead.”

“Thank you.”

I bowed my head once more.

“Many of you probably already know me. I’m Jin Do-jun, fortunate enough to have a wealthy grandfather. Thanks to him, I’m standing here easily.”

Some smiled, while others remained expressionless. Everyone knew this wasn’t a place one could get into simply by having money.

“I want to become close with my classmates and seniors without any awkwardness, but it hasn’t been easy. So, I thought I’d leverage my special skill.”

The mention of a special skill piqued everyone’s curiosity.

“Sunbae-nim, would giving small gifts to my fellow students and seniors be considered bribery?”

My sudden question startled the department representative, who stammered a reply.

“W-well, no. Bribery requires something in return, but in this case, the only thing seniors or classmates can offer is friendship, which is an abstract, intangible thing.”

“I see. Then, would giving expensive gifts to professors constitute bribery?”

The professors chuckled, and one called out.

“Unfortunately, yes, it would. Professors wield the weapon of grades, which isn’t abstract at all. Haha.”

“That’s a relief.”

Laughter filled the cafeteria. Now, the students’ eyes were filled with anticipation due to the mention of gifts.

Smiling, I pulled my cell phone from my pocket.

Everyone was surprised again.

As a chaebol’s grandson, they probably expected me to have a cell phone, but it was still an unfamiliar sight for university freshmen in this era.

I quickly dialed a pager number and waited.

At the cafeteria entrance, men in suits pushed carts piled high with boxes.

“Frankly, my skill is something I learned from my grandfather: winning people over with gifts. And the gifts should always exceed expectations.”

As the men handed out boxes to each student, gasps and exclamations filled the air.

“This is the Soonyang laptop that’s being released next month. It has a Pentium MMX processor and an Intel chip. It has 128 MB of RAM, and the hard drive has a whopping 6 GB of storage. It also has an 8x CD-ROM drive…”

No one was listening to my explanation.

Everyone was busy tearing open the laptop boxes, and even the professors were engrossed in looking at them.

Helplessly, I put down the microphone and waited for this excited frenzy to pass.

# # #

“What? 200 new laptops?”

“Yes.”

“You idiot. Do you know how much that costs?”

“The retail price is around 3 million won each, so about 600 million won total.”

“You’re giving those away to the kids? Just to win them over?”

My grandfather stared at me, his eyes wide with disbelief.

“I’m winning them over, making them my allies… and it’s also great advertising.”

“What? Advertising?”

“Laptops carried by the brightest minds in Korea, the law students of Seoul National University. Word will spread across the campus. It’ll create the image that laptops aren’t just for office workers, but something university students can also own.”

My grandfather pondered my intentions before tilting his head.

“It’ll be hard to make that a real advertisement. It’ll mostly stay within the school…”

“We need a follow-up.”

“A follow-up?”

“The release was delayed, so we missed the new semester timing. We can do a special discount for university students, an academy event. We can even film some commercials with Seoul National University as the backdrop.”

In his mind, my grandfather was already picturing commercials featuring the iconic gates of Seoul National University.

I seized the moment to deliver the decisive blow.

“If you’re worried about the cost, I’ll buy them myself. You know 600 million won is pocket change for me.”

“You rascal! Are you trying to make your old grandpa look stingy?”

He glared at me for a moment before his expression softened again.

“But Do-jun, why only 200? Aren’t there about 400 students in the law department?”

“I heard that only about half attend the freshman orientation. We should only give them to those who attended.”

“Why is that?”

“It’s about differentiation. Those who attended and those who didn’t. It can’t be the same. We need to make those who didn’t attend regret their absence, hitting their foreheads in frustration. We need to firmly instill that rewards are only for those who follow me.”

My grandfather slapped his knee.

“That’s it! Carrots are more effective than sticks for moving a horse. Hahaha.”

* * *

The freshman orientation party was more lively than ever before. I could sense them being cautious with their drinking, afraid of losing their laptops.

And Deputy Manager Kim Yoon-suk quietly approached me and handed me a memo.

It was a list of the people who had refused my gifts.

They are the ones worth keeping an eye on.