Inflection Point
*** Athena.
[Giyeong Motors has dramatically slashed interest rates. Branches are swarming with customers from early morning.]
[Daehyeon Motors has followed suit, dropping rates to 10%. Shares are surging on expectations of booming car sales.]
The unprecedented 50% interest rate cut was more than enough to hook customers. TV news was running nonstop coverage of the two companies.
Kang Min-ho switched off the TV and addressed the team gathered in the conference room.
"Just as expected, the response has been great from day one."
It was good news, but Cheon Dong-gwan, the section chief, let out a quiet sigh, as if a bit disappointed, and chimed in.
"President, I have to say, I'm a little disappointed, honestly."
"It couldn't have gone better than this. What's bothering you?"
"They had no choice but to accept our proposal anyway. What if we'd bought a bit of their stock beforehand?"
Min-ho understood Cheon’s thinking, but if they had, the negotiations might have turned out differently.
"What do you think they would’ve seen it as if we’d snapped up their stock before negotiating?"
"They might’ve thought we had designs on their management rights, even if just a little."
"It could’ve sparked suspicions of insider trading. You know small change isn’t my style."
"Of course. I was just saying it out of regret."
"Good. My plans aren’t always perfect. It’s great that you’re speaking up to prevent mistakes."
From the corner, JK Card division head Yu Se-ho, who’d been watching cautiously, raised his hand to speak.
"No need to hold back. Say whatever’s on your mind."
"We have a total of 350 card company employees right now. Inbound calls have surged over 400% compared to a normal weekday since morning."
"Work’s piling up, and you need something? Tell me what you want."
"Giyeong alone was a handful, but with Daehyeon piling on, we’re really struggling now."
Min-ho, reading between the lines of Yu Se-ho’s usual indirect style, cut straight to it.
"Hire as many more staff as you need. JK Card is using the entire 13th and 12th floors, right?"
"Yes, that’s correct."
"I’ll back you with whatever personnel, office space, or funds you require. Get it done right away."
"Thank you, President."
He had to head to headquarters in a few minutes. Checking the time, Min-ho quickly instructed More Times president Jo Dong-uk.
"More Times, focus on concrete examples of the real benefits customers get from buying cars this way."
"Got it. And one more thing."
"Anything better, go for it."
"We’ll interview actual customers who’ve bought cars. That should make it way more relatable."
"Perfect. Direction’s set—you decide the pace."
"We’ll proceed and report back."
Min-ho stood up.
"That’s it for today’s meeting. Bring any good ideas anytime. Great work, everyone."
-Great work, sir.
Back in his office, Min-ho grabbed his documents and prepared to head out. Lawyer Choi Jong-hoon watched with a puzzled look.
"Not getting ready to go to headquarters?"
"Huh? I haven’t heard anything from Vice Chairman Moon."
"It’s about time."
Right on cue, his pager beeped. Min-ho pulled the wireless device from his pocket and showed Choi the number.
"How did you know?"
"Just a feeling."
"Did you see something again this time?"
"I told you, I didn’t see anything. Busy. Let’s go."
*** JK Group Headquarters.
A black car was parked a short distance from the headquarters entrance, with a clear view of the front gate. Inside, a man was reporting the situation in real-time via car phone.
"President, I’ve arrived and I’m watching now."
"Anything unusual?"
"Nothing yet."
"You know what to do if you get spotted, right?"
"Ditch the car and run."
"That’s right. Nail this job, and I’ll get you a new car."
"Thank you, President."
His voice trembled—and just then, Min-ho’s car pulled into the headquarters parking lot.
"Huh? Young master’s car just entered."
"Choi Jong-hoon with him?"
"Yes...... Huh...... What’s this?"
"What? What happened? You’re killing me! Spill it!"
"Vice Chairman Moon came out to greet him."
"Are your eyes okay? The Moon butler doesn’t see off anyone short of a heavyweight politician!"
"It’s true. He’s talking with the young master right now."
He hadn’t believed it at first, but all the circumstantial evidence pointed one way. The man let out a long sigh and gave orders.
"Got it. Just note when he leaves and head back right away. Take a roundabout route—they might tail you."
"Understood."
Meanwhile, Min-ho arrived at headquarters. Moon Sang-oh politely opened the car door.
"Welcome. You must be tired from the trip."
"Something good happen? You’ve been coming out a lot."
"I came out to share the good news first and get some air."
"Grandpa’s reaction?"
"Just as you predicted, young master. He’s extremely pleased."
"He would be. Let’s head in."
"Yes. This way, please."
They entered the chairman’s office. Chairman Kang Jin-gwang, who’d been anxiously awaiting Min-ho’s arrival, greeted him with a beaming smile.
Not only had he revived the near-dead JK Card, but he’d sparked a massive revolution in the untouchable installment market. A-Mart, Telecom, and Se-min Newspaper subscriptions were up, and Daehyeon Motors’ fund transfer had filled JK Mutual Savings Bank to the brim. How could he not be satisfied?
He caressed his grandson’s cheeks and stroked his hair repeatedly.
"You sly little fox, wagging your tail like mad and pulling off another big one!"
"Weren’t you a bit miffed I didn’t tell you ahead?"
His eyes full of affection, he shook his head.
"What fun is knowing what’s in the box before you open it? I loved the gift from my Min-ho."
"When did Daehyeon contact you?"
"Around 11 yesterday, I think. They came begging for the same terms as Giyeong."
"We hadn’t even started negotiations, and they’re already clinging to our pant legs?"
"Exactly. I tacked on a few extras and wrapped it up. All because our grandson did such a fine job. My mind’s wandering—my legs ache, sit down already."
The grandfather, who wanted to keep his grandson close even a moment longer, pulled a chair right beside him instead of across, facing him for their talk.
"What if Grandpa had refused this deal? What would you have done?"
"I prepared your favorite foods, even put Andong soju on the table. Could you really have said no?"
Chuckling heartily at the apt metaphor, Chairman Kang replied.
"An offer I couldn’t refuse, eh?"
"This goes beyond just conquering the installment market and bulking up JK Card."
"Grandpa hasn’t a clue. Explain it nice and slow."
Min-ho opened his notebook, checked his notes, and continued.
"Credit cards are like cigarettes. At first, they’re nothing, but soon you can’t live without them."
"Makes using cards a habit?"
"Yes. People feel less stress spending with cards."
"Since no cash leaves your wallet right away......"
"In a few months, they’ll use cards more than cash. That’s pure profit for JK Card."
"Of course. It’s inevitable."
Until the IMF crisis, the economy was in an unprecedented boom. The shift from saving to spending—and credit cards heralded it. Min-ho had linked the JK affiliates like a string of dried mackerel, with A-Mart at the core.
"What did Daehyeon offer?"
"Same as Giyeong, but since they were late, I added one more: major funds to Se-min Newspaper subscriptions go through our mutual savings bank."
"More subscribers mean higher stock prices and pricier, more ads."
"Gave away just 10%, and look at the returns."
"And it’ll be huge for shaping public opinion going forward."
With JK Card at the center, the whole group had a massive feast to share. For a mere 10%—Chairman Kang couldn’t be anything but thrilled. It was a win-win-win.
Min-ho was unmistakably steering JK Group now. Undeniable proof.
"Here I am, the chairman, but it feels like my grandson’s doing all the work."
"No. With you solidly in place, Grandpa, I can focus without worry."
"Aigoo, how does every word from you melt my heart...... Fine, I learned a thing or two this time."
"Could I have planned this without you?"
He smoothly credited it all to Chairman Kang. The insightful grandson left him in awe.
"Now, you’ve done such good work—I want Grandpa’s request granted today. How about it?"
"No need. You’ve given plenty already."
"This time, you have to do one for me. I’ve never heard you say what you want."
Min-ho, who’d anticipated even this reaction, smiled faintly and broached it.
"There’s one thing I want."
Curious what his grandson would say, the chairman leaned forward eagerly.
"Anything—not some trivial car, but a building, land, whatever you need. Just name it."
After a pause, Min-ho spoke.
"Could you make one call to the Ministry of Finance for me?"
His grandson’s words weren’t a gift request but a curveball about the Finance Ministry. Chairman Kang and even Moon Sang-oh looked baffled.
"Grandpa said name what you want, not drag me into political games."
"I want something, but I really need your help, Grandpa."
"You’re scheming something...... Finance Ministry means Si-deok...... That old friend. Why bring this up?"
The JK Card plan wasn’t over. The biggest punch was yet to come. Everything so far was buildup.
"The used car market has no installments yet."
No more explanation needed. Min-ho was seeing farther than Chairman Kang had imagined. He’d joked about learning from his grandson before—this time, it was real. He hadn’t even considered it.
Slapping his forehead, he marveled at Min-ho’s foresight.
"Used cars...... Right, I never even thought of used cars......"
New car sales were dead—no way the used market was thriving. And installments always excluded it. If he could plant a flag there via the Finance Ministry, it’d be like scooping money with a shovel.
"Needs Finance Ministry approval. If it goes through, JK Card monopolizes new and used cars."
Ask for a gift, and he drops a genius idea. Eyes moist with joy, he grinned at his grandson.
"My grandson...... How are you so brilliant?"
"All from you, Grandpa. So, you’ll do it?"
"Of course. First time you’ve asked—I have to. I’ll see Si-deok at Finance first, but I promise I’ll make it happen."
"You’re the best, Grandpa!"
"You’ve been quiet for a while—now it’ll get busy again. Don’t worry; Grandpa’ll handle it."
He kept stroking his grandson’s cheek.
"By the way, I want you officially taking the president role...... Is that Grandpa being greedy?"
"I was going to bring it up. I’ll take the JK Card presidency proudly by year-end."
Year-end meant the financial real-name system rollout. No more hiding then.
"Really? Best news I’ve heard all year!"
"Yes. Give me a bit—I need to prepare myself."
"Can’t sit still on a day like this. Come to Seongbuk-dong for dinner. Grandpa’ll prepare something delicious."
After their talk, Min-ho got back in his car and headed to Athena. The man in the parked car watched intently.