The King Chairman's Counsel
The Giant Killer asked, “Didn’t the President specifically ask you to look after me?” The reason was nothing like Yoo Jae-won had imagined. He had expected the typical Korean chaebol approach—take the full price and quietly return a portion later as a kickback. Though kickbacks were a legitimate marketing tactic in America, in Korea they were simply a way to create slush funds.
“Huh? Wasn’t that just a polite remark?”
At Yoo Jae-won’s question, Chairman Jeon Myeong-heon chuckled. “Perhaps. But no one takes the President’s words lightly. Especially not businessmen like us. If you treat it as nothing and do nothing, you never know what might happen later.”
“Surely not.”
Yoo Jae-won knew better than anyone, but he remembered he was supposed to play the innocent child right now.
“Ah, it feels shameful to say such things to a boy your age. Still, I like you, and you’ll be in this world for a long time, so I’ll tell you.”
Thanks to that, Yoo Jae-won was able to hear stories from Jeon Myeong-heon, one of the giants of the Korean economy—stories that never made it into the media.
“At the Businessmen’s Night, you said you would pay your taxes properly and create many jobs so that we could all become wealthy together. That was a good, honest thing to say. You meant it, didn’t you?”
“Of course!”
“I liked hearing it too. Especially because you said it right in front of Ilseong’s Choi Hyun-hee. I don’t know if you knew this when you spoke, but Choi Hyun-hee has been very anxious about tax issues lately.”
“Oh. I see.”
Yoo Jae-won had known, but he continued to feign ignorance.
“The President liked it as well. But tell me—do you really think the President only cares about people who pay their taxes and create jobs?”
“Doesn’t he?”
“Of course not. No madman has asked a child like you for political donations yet, but for established executives like us, such requests are routine. These days they’re a bit more cautious because of public opinion, but in the past it was far worse. Many of them treated companies like their own personal piggy banks.”
Yoo Jae-won simply listened.
“Once they start squeezing you from every direction, it becomes difficult to pay taxes properly. The politicians know this well. That’s why even when taxes weren’t paid correctly, they often looked the other way.”
“No way.”
Yoo Jae-won spoke as if he couldn’t believe it.
“Why would I lie to you and show you our dirty laundry? Do you think they only ask for money? They also make endless employment requests. And we can’t just ignore them. It’s one thing when they recommend capable people, but there are plenty of unqualified ones too. And when someone truly powerful personally pushes a candidate, we have no choice but to place that person in a high position, even if we have to grit our teeth.”
Chairman Jeon Myeong-heon seemed to have a great deal pent up. He sat a sixth-grade elementary school student in front of him and poured out all sorts of secret stories. When he mentioned someone who had been placed in a high position despite lacking ability, Yoo Jae-won thought of a name.
“Huh? Could that person be the chairman of Mirae Construction?”
Jeon Myeong-heon, who had been drinking cold water because his throat was dry from talking so much, nearly spat it out.
“How did you know?”
“You said he lacked ability but was promoted anyway. When I started my business, I studied the large corporations quite a bit. Naturally, I began with Mirae Group, the number one conglomerate. And the heart of Mirae Group is Mirae Construction.”
“Is that true?”
It was true. He had studied diligently while receiving expensive private lessons from someone who knew the chaebols’ behind-the-scenes stories well. Of course, that studying had happened in his previous life, while preparing for his regression.
“Right now, Mirae Construction’s biggest problem is the unpaid receivables in the Middle East, especially Iraq. Even without that, their profit margins are thin because of low-price bidding, and they agreed to receive payment later. The person who made that decision so recklessly is the current chairman of Mirae Construction.”
King Chairman Jeon Myeong-heon’s mouth fell open. The issue of Mirae Construction’s receivables was something only insiders knew. He himself had only learned of it recently. The man in question had recklessly submitted low-price bids to inflate his performance, and at the time everyone thought he was simply bringing in a lot of money. It was only last year that they realized he had done nothing but favors for others and produced no real results. Still, it hadn’t been a complete loss—the Middle Eastern countries had paid on the promised dates—so he had swallowed his anger. However, the man had seriously damaged the financial health of Mirae Construction, the heart of the Mirae Group, so Jeon Myeong-heon had been waiting for the right moment to remove him.
After saying this much, Yoo Jae-won suddenly had an idea. If he played this right, he might be able to get rid of that man—whose name he didn’t even want to say—much earlier.
“But what exactly did he say that made you promote him all the way to the top of Mirae Construction?”
Jeon Myeong-heon wondered why the boy was asking even this. Anyone else would have been scolded. But because he had taken a liking to Yoo Jae-won, no scolding came. In fact, the opposite happened. He thought that since the boy seemed to have illusions about the President and the political world, it wouldn’t hurt to wake him up to reality a little earlier.
“He told me to keep an eye on him.”
“Huh? You promoted him just because of those words?”
“Just? It was a direct order from a five-term President.”
“Hmm. To me, it sounds more like a warning to watch him closely. And the results of putting him in charge of running a construction company weren’t exactly great.”
“Not just not great—disastrous.”
“By the way, about those receivables. I think it would be better to offer some discount and collect them early.”
Jeon Myeong-heon had been wondering whether “keep an eye on him” had meant “look after him,” but the word “receivables” that followed caught his attention. Yoo Jae-won’s words aligned perfectly with the dilemma he had been wrestling with alone. Chairman Jeon Myeong-heon hated losing money. He only felt satisfied when he saved even a single won. But if the receivables turned into losses because he couldn’t collect them at all, it would hurt even more. So he had been considering asking for early payment even if it meant accepting a discount. This thought had existed only in his mind; he had never voiced it to anyone, because he lacked the conviction to justify it. Even when pursuing seemingly reckless challenges, he had the determination to push forward because he believed his own judgment was sound. He simply wasn’t certain the receivables would become uncollectible, so he had been watching and waiting.
“Explain a little more.”
“Right now, the American President is George Bush of the Republican Party. Republicans mean war, and the place that looks like it might go to war is the Middle East. That means risk.”
It was an analysis that any expert would have laughed at—a conclusion reached through repeated leaps of childish logic. But it was something that would actually happen very soon. It even resonated with Chairman Jeon Myeong-heon.
“I understand. If your words turn out to be correct, I’ll give you a big gift.”
“Hehe, a gift? How about we make a bet instead?”
“A bet? With this old man?”
Yoo Jae-won silently prayed that the chairman would take the bait. Seeing Jeon Myeong-heon’s thoughtful expression, he wondered if he should have explained the background of the Iraq War in more detail.
“Very well. If what you say comes true within three years, I’ll grant you a wish. But if you’re wrong, you must grant mine. Of course, even if you win, don’t ask for anything unreasonable.”
Yes! It was an incredibly crude lure, but the King Chairman had taken it.
“Got it! By the way, I already know what my wish is.”
“What? What is it?”
“When my company grows big enough, I’m going to build a huge headquarters building in Seoul. So I’d like you to sell me some land at a reasonable price.”
“Land?”
“Yes. I want to build it in a good location like Jamsil or Dogok-dong in Gangnam, but it’s too expensive right now. When I make a lot of money later, I’ll buy it, so please don’t sell it to anyone else.”
King Chairman Jeon Myeong-heon looked at Yoo Jae-won again. As Korea’s top construction company, Mirae Construction owned a great deal of land, including parcels in Jamsil and Dogok-dong held under nominee names. Naturally, they had been acquired for future capital gains, and among them, the Dogok-dong and Jamsil plots were in the best locations. It was surprising that the boy knew these lands belonged to him, and even more surprising that someone his age already had the ambition to build a massive headquarters.
“All right. In exchange, I’ll build your headquarters for you. Of course, it won’t be free.”
“Then it’s not really a wish—it’s a transaction… Well, that’s fine too. Since you’re the best construction company in the country, I couldn’t entrust it to anyone else anyway. Besides, you gave me advice worth its weight in gold today, so I’ll gladly give the job to Mirae Construction. But I’ll hire a very strict supervision company, so don’t complain later.”
What a cheeky brat. Sometimes he seemed ill-mannered, yet at other times he was admirable. In any case, Chairman Jeon Myeong-heon once again rated Yoo Jae-won highly, thinking he was a boy worth raising.
Since they had said everything they needed to say, the atmosphere turned toward parting.
“Ah, right! You have to receive my New Year’s bow!”
Yoo Jae-won never missed such a subtle opening. Yesterday had been New Year’s Day, but he was determined to squeeze out every last drop. Chairman Jeon Myeong-heon did not refuse. After receiving the bow, Yoo Jae-won accepted a 100,000-won check, said he would visit again, and stepped outside.
When he had arrived, Chairman Jeon Myeong-heon had accompanied him, but on the way down only the secretary saw him off. She was a pretty older sister, so he didn’t mind at all.
“Haha, that boy. Even if he went to the Middle East, he wouldn’t starve.”
Chairman Jeon Myeong-heon muttered while briefly watching the door through which Yoo Jae-won had left with the New Year’s money in hand, then pressed the intercom.
“Bring me that boy’s personnel file and the construction division’s financial statements for the past five years right now.”
—Yes, Chairman.
He had said “that boy,” but there was no questioning from the other end of the intercom. It was already common knowledge within the Chairman’s Secretariat that the chairman of Mirae Construction had fallen out of favor with the King Chairman. So when he said “that boy,” everyone knew he meant the chairman of Mirae Construction.
“And compile a list of the land we own in Gangnam and send it up. Especially Jamsil and Dogok-dong.”
—Understood.
The King Chairman’s solemn orders were swiftly carried out by his efficient secretaries. Documents soon arrived at the chairman’s office, and executives from Mirae Construction were summoned for detailed explanations.
Following the pretty secretary’s guidance down to the lobby, Yoo Jae-won found Kim Dae-seok already waiting with the car. As he rushed down like the wind to open the back door, Kim Dae-seok froze upon seeing the person who had come down with Yoo Jae-won.
“B-Both of you? Uh, where should I take you?”
All his usual composure vanished, and he even began to stammer.
“Both of us? This noona is just the secretary who came down to see me off.”
“Huh? Huh? Is that so?”
Whatever strange imagination he had been entertaining, Kim Dae-seok looked even more flustered at Yoo Jae-won’s words.
“Well then, I’ll be going. You can head back up.”
When Yoo Jae-won bowed politely to the secretary, she smiled bashfully and returned the greeting. Yoo Jae-won got into the car, and Kim Dae-seok gave the secretary a quick nod before hurriedly climbing into the driver’s seat and pulling away.
“Did you fall for her at first sight? Want me to get her contact information for you?”
“Gasp? Really?”
“Hehe, depends on how you do.”
“I’ll do my best! Where would you like to go?”
Kim Dae-seok had only looked at the secretary for a few seconds, yet he was this worked up. Yoo Jae-won felt a twinge of envy. When would he himself meet someone who made his heart race? In his previous life he had been too buried in work to marry, but he believed this life would be different.
“We’re obviously going to the Seoul branch office.”
“Yes! Right away!”
But he had no intention of looking for a partner right now. This was the time to focus on work. More importantly, his age was still a problem. If he kept diligently “emptying houses” with office software and next-generation operating systems while concentrating on various businesses, he would naturally grow older, and suitable opportunities would appear.