Chapter 30
Chapter 30
Kim Yu-geon looked at his brokerage account.
He had recently made a huge profit from investing in KS Semiconductor ELWs.
Invested 200 million won, earned 2 billion won.
Seeing the money should’ve made him happy, but it didn’t. He had predicted the stock would fall, while Kim Deok-su had expected it to rise.
The result: his defeat. KS Semiconductor, having successfully developed HBM semiconductors, surged.
Though he earned a fortune, his pride was wounded. He vowed to humble Deok-su next time.
The intercom rang.
“Director Kim Yu-geon, this is the Chairman’s Secretariat. He is requesting your presence now.”
“What? When did the chairman arrive? They should’ve notified me…”
“The chairman’s movements are confidential.”
“My apologies. It was my mistake.”
“…Come up immediately.”
Kim Yu-geon was annoyed by his own mistake and the secretary’s cold tone.
He straightened his attire and quickly walked to the chairman’s office.
Inside, on the main sofa seat, sat Chairman Sung Jeong-ui of Soft Investment.
He bowed at 90 degrees.
“Long time no see.”
“Yes. Please, sit.”
The secretary came in, placed tea, and left.
“How have you been? And the chairman—still in good health?”
“Yes, thanks to your concern, he is healthy.”
“Concern, nothing… Here, have some tea.”
Kim Yu-geon carefully sipped his coffee.
“Do you know what coffee this is?”
“No, sir.”
“Panama Geisha. One cup costs about 100,000 won.”
“Yes, sir.”
“But to an ordinary person, it’s no different from an Americano. Those who don’t understand value see Americano and Panama Geisha as the same. Those who do, know the difference.”
“Understood, Chairman.”
“I received your report on Jalnolja.”
“Apologies, Chairman. I lost an opportunity trying to acquire more shares. Another company snatched them.”
“That other company is Mirae Securities, right…? Was that not your intention?”
“No, sir. Absolutely not. I wouldn’t…”
“Yes, that’s not it. Then, do you know who from Mirae Securities invested?”
“No, I don’t.”
Kim Yu-geon admitted he didn’t know.
“You don’t? Remember this: the person’s name is Kim Deok-su. Watch him closely. Seems he’s not ordinary.”
From the chairman’s tone, one could sense his strong curiosity about Kim Deok-su.
“Is he really that talented?”
“I value judgment above all. I like you because of your insight. Entrepreneurs must grasp the true value of products and services. That’s how you make money. Buy cheap cheaper, buy expensive cheaper.”
“Yes, sir.”
“Just as you tried to invest in Jalnolja, he chose Jalnolja. But I think he might be even better. Do you know why?”
“….”
“He sees the value of things more accurately than you do.”
Kim Yu-geon’s pride stung, but he maintained a poker face.
“I will strive to understand insight and value more precisely.”
“That… doesn’t come from effort. You’re born with it. If not, at least effort can help.”
“….”
Kim Yu-geon gritted his teeth.
The chairman implied he lacked that innate insight.
“Director Kim Yu-geon, I like you. You’re insightful, smart. But what I like most—greedy.”
“Apologies, sir. My greed caused mistakes.”
“Hahaha, no. An entrepreneur must be greedy. That’s my honest view.”
“Yes, sir.”
“Tell me, how much do you think Jalnolja is worth?”
Kim Yu-geon considered.
The chairman’s attention and involvement indicated the value was beyond 100 billion won. He estimated at least 1 trillion won.
“About 1 trillion won.”
“Not bad. But Jalnolja is worth even more. Much more.”
“Ah… understood.”
“I will meet CEO Yang Jin-su personally. You’ll need to correct your previous mistake first.”
“Yes, sir.”
“Prepare for negotiations.”
“Yes, sir.”
“Now leave.”
Kim Yu-geon immediately went to Jalnolja’s headquarters. The first task: win back CEO Yang Jin-su’s favor.
He requested a meeting but was rejected. After three days outside Jalnolja, he finally met Yang Jin-su.
He bowed 90 degrees immediately and apologized.
Pride and frustration aside, humility was necessary. The acquisition negotiations couldn’t fail.
“To me, Jalnolja’s minimum value is at least 1 trillion won. I’d like to reinvest.”
“I need to think about it.”
“Please give me a chance to make up for my previous mistake.”
“….”
Kim Yu-geon stood, biting his lips, then knelt fully.
“CEO Yang, please grant me another chance.”
A chaebol heir. Future Group successor. Yet Kim Yu-geon relinquished all pride.
“To rise higher, one must sometimes bow.”
“Ah… why are you doing this? Fine, let’s proceed.”
“Thank you, CEO Yang.”
He finally swayed Yang Jin-su.
Kim Yu-geon’s eyes glowed red with humiliation.
‘I won’t forget today.’
He vowed to rise higher and never endure such disgrace again. Today’s setbacks were preparation for a spectacular ascent.
Yang Jin-su and I went to a café on the first floor.
I called Team Leader Kim and Manager Choi and ordered drinks. By the time they arrived, drinks were ready.
“Hello, CEO!”
“Team Leader, how have you been?”
After greetings, we had coffee and light small talk.
Yang joked that if he’d known business would deprive him of sleep, he wouldn’t have started it.
The business thrived. With our investment, Jalnolja scaled up and achieved qualitative growth.
It attracted media attention and became the most notable startup in leisure and accommodation.
“CEO, shall we discuss what you mentioned earlier?”
“Ah, shall we?”
Yang seemed cautious, probably regarding the minor complications he mentioned to me earlier.
“Please speak freely. Start with the good news.”
“No, better to face the blow first. Let’s start with the issue.”
All eyes on him.
“Previously, the company that withdrew investment was Soft Investment.”
“Oh? Soft Investment?”
Team Leader Kim was shocked; so were others.
Soft Investment was unexpected. Globally, if Warren Buffett ruled Omaha, in Japan, it was Sung Jeong-ui, Korean-born global investor.
From nothing, in 30 years, he built one of Japan’s top ten firms. Creativity, innovation, bulldozer-like investment strategies—amazing achievements.
Curious, I asked:
“CEO Yang, why did a world-class company like Soft Investment retract investment?”
“At that time, they didn’t know Mirae Securities had invested. So they offered double the shares at the same price.”
“Really?”
I was surprised; such global companies were thought to be above shady tactics.
“Plenty possible. Wealthy people are like that. No different from domestic chaebols. Actually, Korean chaebols learned from foreigners.”
Manager Choi nodded.
“So they schemed to get more shares, then lost them to us.”
“Exactly. Soft Investment proposed reinvestment.”
“Shouldn’t we refuse?”
“Those who betray once will betray again.”
“But the investment is astronomical. They value Jalnolja at over 1 trillion won. At least.”
“1 trillion?”
Manager Choi and Team Leader Kim gasped.
“Yes, minimum 1 trillion. Likely several trillion. They want to buy 20% of the company and 10% of Mirae Securities’ shares.”
“Then our shares are worth at least 100 billion won.”
Yang smiled and nodded.
The shares we bought for 20 billion now surged to at least 100 billion.
I didn’t show my surprise. More important matters awaited.
“Will 30% influence management?”
“No, they’ll not interfere. Written in contract.”
“Still, trust was broken previously.”
“True. Kim Deok-su grasps core issues well. Team Leader must feel secure.”
“Not at all.”
“No kidding.”
Team Leader smirked.
“Thanks to Kim Deok-su, we’re confident. Right?”
“Confident and robust, Team Leader.”
Manager Choi added:
“Without Kim Deok-su, Team 9 wouldn’t function. He led the Jalnolja investment.”
“Eh… why this sudden praise?”
Flushed, I returned to the original topic.
“CEO Yang, what do you want to do?”
“Still deciding.”
Yang asked Team Leader and Manager Choi:
“Should we accept or decline?”
They looked at me; Yang laughed.
“The real power here is Kim Deok-su.”
“Yes. The power among powers. Deok-su, what do you think?”
“Without management interference, accepting is good. It’s Soft Investment, and the price is above 1 trillion.”
Team Leader nodded.
“Agreed, I think the same.”
Yang nodded too.
“Then it’s best to accept?”
“But CEO, at what price will you sell 20%?”
“I haven’t decided…”
I imagined selling 10% for 100 billion.
The scent of strong jasmine filled my mind.
Then, imagining 20% for 200 billion, the scent grew stronger.
‘Ah… this means…’
I could sell for 200 billion.
I suggested a price to Yang; he was shocked.
“What??”
Team Leader and Manager Choi looked equally stunned.
“Impossible!”
Yang Jin-su went to a suite in Sogong-dong.
Knocked. A Soft Investment employee opened the door. Yang bowed lightly and entered.
Inside, Kim Yu-geon was present.
And, surprisingly, Sung Jeong-ui himself sat on the sofa.
“Are you Chairman Sung Jeong-ui?”
“Yes, pleased to meet you.”
He stood and extended his hand; Yang shook it.
Yang studied the global investor carefully.
At that moment, he recalled someone he recently saw: Kim Deok-su, junior at Mirae Securities.
Their eyes were remarkably similar: piercing yet unreadable.
Difference: Kim Deok-su’s eyes felt clear and pure; Sung’s did not.
“Please sit.”
“Yes, sir. But why are you here?”
“For share negotiations. I left it to others below, but they failed to grasp Jalnolja’s true value. And I apologize for the prior unfortunate incident.”
“No, it’s already resolved.”
“Thank you for your understanding. Let’s sit.”
They seated themselves.
Yang began:
“I’ll give a brief on Jalnolja.”
“Sorry, I don’t have much time.”
“Then just a few questions.”
“What value do you place on Jalnolja?”
Yang recalled the price Kim Deok-su had suggested.
A preposterous yet precise figure.
Kim Yu-ri explained Kim Deok-su was a failure-proof investor with unmatched insight.
The number was not random but carefully calculated.
Though incredulous, Yang trusted it.
And that gaze—Kim Deok-su’s. Sung’s and Kim’s eyes were similar. Their thinking seemed aligned.
‘Should I say it?’
He hesitated—if negotiations broke down, there’d be nothing he could do.
Yang spoke calmly but firmly:
“My valuation of Jalnolja is 8 trillion won.”
Everyone around Sung Jeong-ui gasped. Kim Yu-geon’s eyes widened.
8 trillion won!
Even seasoned investors would hesitate to state such a number.
Soft Investment staff exchanged stunned looks, some taking offense.
Yet…
Sung Jeong-ui reacted unexpectedly.
“Hahaha! You’ve assessed it accurately.”
The chairman laughed heartily.