The Mega-Mart Revolution Kicks Off
*** Athena conference room. It was August 1991, the month Ukraine declared independence from the Soviet Union and Carl Lewis set a new 100-meter world record. Large marts still didn't exist in South Korea. The biggest you could find were slightly upscale neighborhood supermarkets and corner stores. If Athena Distribution built large marts as planned, they could swallow the entire retail industry whole.
Kang Min-ho explained the plan calmly. As expected, reactions were mixed. Min-ho, who knew the outcome, was confident, but the others expressed concerns based on practical realities.
"That's the briefing on Athena Distribution. Any opinions are welcome. Feel free to ask questions."
No Jun-hwan, the real estate team leader, spoke first, hitting on the practical issues precisely.
"As you mentioned, you're planning for about 30 branches, right?"
"Yes. Is there a problem?"
"Factoring in store space and parking, we'd need at least 6,000 to 7,000 pyeong per site."
"The bigger the land, the better. Is the issue money or securing the sites?"
No tapped his calculator for a moment before replying.
"The size is too big to buy all at once."
"Of course we'd buy multiple plots and connect them, right?"
"We'll proceed as you say, sir. Just keep in mind it will take much more time than before."
"In short, it means lots of time and money?"
As the scale grew, so did the supporting elements. No flipped through his notebook busily before answering.
"Yes. Our real estate team is 20 people working hard, but this will require more manpower."
"Hire as many staff as needed. How much time do you require?"
"It varies, but securing even partial sites will take at least three months minimum."
A large mart required at least 6,000 pyeong, no matter how small. Min-ho's plan called for 30 branches in Seoul alone. No calculator was needed to see how much land that meant. More critical than land was funding. The Times provided steady operating revenue, but it wasn't enough for this. Borrowing from Chairman Kang Jin-gwang wasn't an option, and bank loans had limits. It was a situation that naturally drew a sigh, but Min-ho smiled faintly for some reason.
"I'll handle the funding. Don't worry—just proceed."
"Understood."
"Next?"
Cheon Dong-gwan, from the securities firm background, took the floor and handed over documents.
"This is the status on Athena Distribution stock."
"It's not crashing big—it's rising steadily. What's the problem?"
"To be frank, the current share structure feels a bit risky."
"I know. I'll resolve that soon."
"The issue started a few days ago. Look here—whoever it is, they're steadily buying up Athena Distribution shares."
"Signs of accumulation?"
"Yes. If they're on our side, fine. But if it's a black knight, we could face a management takeover threat overnight."
Cheon Dong-gwan's analysis was spot-on. Min-ho's stake was under 4%. That left management vulnerable anytime. A grandfather wouldn't just watch his grandson struggle. He'd instructed Moon Sang-oh to buy 15% of Athena Distribution shares anonymously. Min-ho eyed the documents closely and smiled.
This scale... no one but Grandfather could pull it off. No other securities firm would bother accumulating like this.
Min-ho's hunch was correct. Only Chairman Kang could manage that volume.
"I'll check it out. Great catch—keep tracking it."
"Yes, sir."
Min-ho turned to Yang Sang-pil.
"Any position you'd like?"
"Nothing specific. I'll do my best in whatever you assign."
"Then take Athena Distribution."
"You mean... president?"
Sharp as his former secretary role demanded, Yang grasped it instantly. Min-ho nodded.
"I've won over the executives, and employee contracts are intact. Keeping the old president would cause issues."
"I agree. Stagnant water turns foul."
"Don't you already know how they'll react to you stepping in?"
Yang Sang-pil, who'd made even top Namdo executives quake as secretary general. His title alone was intimidating, but his icy expression and piercing gaze terrified staff. He knew (former) Namdo Distribution inside out—best placement for efficiency now. No further orders needed. Yang quickly mapped it out mentally.
"I'll call an emergency shareholders' meeting and proceed."
With Yang's expertise, Min-ho could breathe easier on distribution. And use him as a strategist anytime.
Min-ho clapped to wrap up.
"That's it, then. Tell me if you need anything. For legal matters, consult Lawyer Choi Jong-hoon."
As everyone rose, new President Yang raised a hand quietly.
"Not Yang anymore—President Yang now. What is it?"
Yang paused before speaking slowly.
"I've not lived an upright life."
The sudden confession drew all eyes. Min-ho nodded, signaling him to continue, expecting documents.
"As Namdo Group's secretary general, I did dirty work. Threats, even violence sometimes."
"What did you think back then? Justified it for the group?"
Yang, usually emotionless, startled.
"How do you know that, sir?"
Min-ho had been a secretary general too. He understood the position and mindset better than most. Unable to say so, he deflected smoothly.
"I imagined myself in your shoes. So, are you sharing to ease your guilt?"
"Yes. I'd apologize to everyone, but some are gone, others untraceable. Right now, nothing I can do. Me... and..."
After hesitating, Yang pulled out documents.
"This is one of Han Du-hak's slush funds. I took 10% as my severance."
"Fifty billion—not bad. But sounds like you're choosing something beyond wealth and glory with it."
"For the victims of the Namdo Chemical phenol leak... Not arrogant enough to think it solves everything."
Min-ho got it now.
"As a former Namdo executive, you want to compensate them?"
"Yes. Haven't slept properly since. Always scared someone's chasing me in my dreams."
Strictly speaking, it wasn't Yang's fault. One thought crossed Min-ho's mind: What if he'd refused Han Du-hak's order? Would the accident have happened? Impossible to know without turning back time. Yang had replayed it millions of times since, only deepening his torment. Gripping his head, he murmured in agony.
"If I'd just said one word as director... Seeing the news of the unborn baby dying... Horrific. All my fault."
One moment's judgment created irreversible scars. Guilt would haunt Yang Sang-pil forever. Tragic, but irreversible. They couldn't dwell on the past. Min-ho patted his back and consulted Choi before suggesting options.
"Lawyer Choi, direct compensation would be problematic, right?"
"Yes. Need clear proof of phenol leak damages. And President Yang isn't directly liable, so no obligation."
Cold but accurate legal advice.
"Some had preexisting conditions, others passed... Not easy. President Jo, send two reporters to confirm victim numbers."
"Got it."
"Fifty billion is substantial. Set up a foundation for lifelong medical support after assessing victims precisely. Best for now."
Yang had suffered silently from the trauma. Still bowed like a sinner, Min-ho reassured him.
"Not your fault. Han Du-hak's the one who erred—and he's paying. Stop blaming yourself. Nothing changes by dwelling."
"You're right, sir."
"Take a few days off. A month, even overseas if needed."
"No. Better to stay busy now. I'll head to distribution and assess operations."
"If that's best, go ahead. Call anytime for leave."
"Understood. Thank you."
Min-ho tidied documents.
"Meeting's over. Lawyer Choi, come with me."
"May I ask the destination?"
Min-ho smiled slyly and nodded. Choi knew.
"Time to make money. Building marts and buying land costs a fortune. Let's go."
***
After calling Moon Sang-oh, Min-ho headed straight to JK Group headquarters with Choi. Min-ho's talk of "making money"—and the destination being HQ—left one thought in Choi's mind.
"Young master, only one thing comes to mind."
"I know what it is, but say it."
"You said we're making money, heading to HQ. Asking the chairman for help?"
Min-ho played Twenty Questions, guiding to the answer.
"What's the current situation?"
"Second son appointed JK Construction president, third son JK Securities."
"If I borrowed from Grandfather now? Assuming info leaks."
Seemingly simple, but Min-ho was unpredictable. Choi pondered.
"It could look like you're gunning for control."
"Think I'd jump into that fire I keep warning about?"
Car stopped; Choi waved hands in distress, denying.
"No, young master."
"Strong denial means affirmation."
"I live with you. Others might think so, but not me."
"Kidding. Why so flustered?"
"Felt it many times... but you're still unpredictable."
No one outsmarted Min-ho, not even clever Choi. Min-ho cracked the window for fresh air, hinting.
"I'm making Grandfather a proposal."
"Pardon? A proposal to the chairman?"
"A lucrative one. He'll agree."
"If he refuses, any plan B?"
"Nah. Scrap the mart project."
"Please, a real hint?"
Suppressing laughter, Min-ho relented.
"Clearing the receivables backlog at acquired JK Securities—in exchange for a proposal."
Fog lifting for Choi, he nodded.
"Collecting bad debts is your specialty... but securities receivables differ from JK Credit Info."
"This time, a new method. Funds go to marts. Friendly enough explanation?"
Generous compared to past vagueness, but questions lingered for Choi. He smiled anyway—Min-ho always delivered. Parking, they strode energetically to Chairman Kang Jin-gwang's office at JK Group HQ.