Foresight
*** Athena
[The used car industry is set to usher in a full-blown era of installment sales. The Ministry of Finance aims to revitalize the stagnant auto sector...]
[As a result, the securities market is buzzing with interest over whether JK Card, with its sharply rising sales, will go public.]
[A seismic shift is coming to the cement market. JK Group Chairman Kang Jin-gwang has declared his intent to acquire Gwangyang Cement.]
Thanks to Min-ho's brilliant maneuver, Chairman Kang had finally shaken off the political risks that had hobbled him for so long. He wasted no time putting his plans into action, expanding the group's footprint. In just three months, the financial real-name system—something no one saw coming—would be implemented. Athena had no choice but to hustle.
It was good news, but Lawyer Choi's face was etched with worry. Min-ho handed him a cup of coffee and probed gently.
"What's troubling you this time?"
"It's nothing."
"Come on, tell me."
He took a sip of coffee, his expression turning serious.
"With all these new affiliates, what happens to the CEO positions?"
"You're saying concurrent roles are tough, and the cousins will be eyeing them?"
"Yes. Excluding President Kang Myeong-seon's young children, there are six people older than you, young master."
"Grandfather won't hand an affiliate CEO spot to just anyone. Especially not a cement company he's always wanted—that to some randoms?"
"It's unofficial, but you're already running JK Card. If that comes out, the others might not stay quiet... That's what worries me."
Chairman Kang's children each held a CEO seat at an affiliate. What was left was the envy and jealousy from the older cousins. It was bound to affect Min-ho somehow. Lawyer Choi's concern wasn't unfounded.
Min-ho, who knew Chairman Kang's mind better than anyone, smiled and replied.
"Grandfather won't give a CEO spot to anyone he even slightly dislikes. He'll use it as leverage to pit them against each other."
"What does he think of the other grandsons overall?"
"Short answer: he doesn't like a single one except me. No need to worry."
"I've caused you needless concern."
"It's fine. I always keep that in mind. Time's up—let's head to the conference room."
The two moved to the conference room. As the door opened, everyone stood and bowed.
"Thanks for coming so early in the morning, everyone."
Despite the grueling back-to-back schedule, their faces were uniformly bright. Lawyer Choi distributed the prepared materials, and the meeting began.
"Let's start with distribution. Sales are way up from last quarter."
President Yang Sang-pil replied with a grave face.
"It's due to JK Card installments plus the exclusive canned sikhye sales."
"Perfect situation. You know what to watch out for now, right?"
"Yes. We'll double-check employee welfare, safety, and operations."
"Plenty of competitors want A-Mart to fail. They'll pounce on any slip-up."
"Understood. We'll inspect meticulously to avoid issues."
At the right moment, JK Card Division Head Yu Se-ho raised a question.
"President, one thing I'm curious about."
"What is it?"
"As you know, my media interviews have spiked lately. They keep asking about the CEO role—it's awkward. When do you plan your official inauguration?"
"Before fall passes. Keep it vague till then."
"Got it."
After reviewing key items per affiliate, Min-ho brought up the main agenda.
"Suppose the financial real-name system is implemented—what do we do? Section Chief Cheon Dong-gwan, thoughts?"
It was an unexpected, tough question. He scratched his head for a while before answering.
"Setting everything else aside, for Athena alone—we'd need to change stock ownership from nominees."
"And then?"
"Readjust Athena shares too, which would reveal the real owner to the world."
"Spot on, as expected from Section Chief Cheon. You've nailed the core."
There was no reason for Min-ho to bring it up idly. Sensing something, he asked urgently.
"President... you don't mean... talk of the real-name system?"
"Just a prediction, but very plausible."
"May I ask why you think so?"
"President Kim is hypersensitive to approval ratings. To keep them high, he needs to rein in the chaebol chairmen."
"Using that to push the real-name system?"
"Last week, asset registration for officials locked down Yeouido. Next target is obvious: corporations."
In reality, President Kim had promised economic reforms to win public favor. To deliver, he needed chaebol leaders' cooperation. The government demanded it unilaterally. No carrot, no horse. Corporations rebelled as expected—and JK Group, already on a leash, had no choice but to brace for the real-name card.
He'd known it was coming, but hearing it from Min-ho cast a shadow over Section Chief Cheon Dong-gwan's face.
"Then... if the Blue House fires the starting gun... your war begins?"
Min-ho nodded.
"Exactly. So, what now?"
"Means we load the ammo... Scale-wise, you don't mean... selling the Line 6 land?"
"Yes. Environmental impact assessment done last month; just route designation left. Our land's inevitably in play."
Subway Line 6, breaking ground from 1990. Min-ho alone knew its path and stations. He'd already snapped up land from Eunpyeong-gu through Yongsan-gu to Jungnang-gu. Now, Line 6's fate rested in his hands.
No intent to block public transit. The goal: swift land compensation negotiations before real-name implementation to secure cash.
No Jun-hwan Team Leader hurriedly pulled land files and spoke.
"You're selling the whole plot?"
"Yes. Any thoughts, speak up."
"Realistically, total compensation around 700 billion seems fair."
"Not after what we paid. Push harder."
"Then... 800 billion?"
Min-ho smiled slyly, raising one finger.
"One big bill."
One trillion. Absurd. The team froze, pens down, staring at him. Unfathomable.
If the Ministry invoked eminent domain, Land Compensation Act Article 4 forced Min-ho to hand it over, tears and all. Knowing this, Team Leader No Jun-hwan spoke up.
"President, as you know, subways are national infrastructure. If negotiations fail, forced acquisition is possible."
"Meaning our demand's too high?"
"Yes. Sorry, but it risks losing big for small gain. Settle at fair value—that's most practical."
Did Min-ho not anticipate their hand? Counters were ready. The 2.6 trillion urban rail plan needed presidential decree—President Kim's sign-off.
Min-ho already gripped the leash with 50 billion in political funds. If they pushed eminent domain, he'd strap on a bomb and march to the Blue House. President Kim jumping into lame-duck fire? Not in year one.
Min-ho's funds freed Chairman Kang's shackles—and his own from regulation.
One trillion cash. Smooth success, and war prep done.
"Reveal to the Ministry it's our land, dangle the bait. I'll handle negotiations."
*** Ministry of Land, Infrastructure and Transport.
With technical reviews and environmental assessments done, route designation complete. Next: compensation, then groundbreaking.
Land Acquisition staff pored over registry extracts, phones ringing.
-Hello, sir. This is the Ministry. Calling about land compensation.
Smooth start, but they soon hit rocks: Min-ho's pre-bought land.
Different owners, but acquisition dates clustered. A sharp staffer grabbed files for the director.
"Director, need to check this."
"What? Petition circulating?"
"Excluding a few, it feels like one entity bought them all."
"Nonsense? Owners differ."
"Timing and context point that way."
Scanning extracts, the director scowled.
"Damn it! What the hell?"
"Looks pre-bought a year ago. Sorry, but report up the chain."
The stack's heft drew a sigh.
"Not one person... They knew and cherry-picked perfectly. Fine, I'll call."
He snatched the receiver irritably. Team Leader No Jun-hwan answered.
"Hello? Land Acquisition Director Kang Hyung-seong."
"We've been waiting. Athena Real Estate Team Leader No Jun-hwan."
Not speculators—Athena. Director Kang jolted.
"Pardon? Athena...?"
"Yes. Issue?"
"No, just... then..."
"To save time: those extracts? All ours, bought long ago."
Sigh-worthy.
"So... for acquisition negotiations, who do I talk to?"
"Not our call."
"Don't tell me..."
"Report to the Minister. We'll talk after negotiator named. Hanging up."
Unilateral. Fury rose, but no options. It went via vice minister to Minister Yuk Dong-heon.
Caught off-guard, he slammed the desk.
"What the hell have you been doing till now?!"
"Sorry. Owners varied; didn't expect this."
"They want negotiations?"
"Yes, Minister."
Pondering, he replied.
"Negotiations... No need with rootless punks. Settle it straight."
"Eminent domain?"
"No time to drag. I'll go to the Blue House myself."
Minister Yuk grabbed the extract pile and headed to the Blue House.