Chapter 11

 

Episode 11. Recruiting Talent (Part 1)

The year 1992 had arrived.

I had been focusing on my studies while living in the United States, and the operation of SAVE Investment Company was entrusted to Vice President Jeffrey and Team Leader Hwang.

The company had established itself in a stable position. With just a few hints from me, it had grown into an investment firm that could achieve profitability rates recognized by Wall Street. The $4 billion Jeffrey had invested on his own had seen a return of over 20%, yielding more than $4.8 billion in just ten months.

Of course, it couldn't compare to the profitability rates of the investments I led, which reached at least 1,000%. But such substantial gains didn't come easily, and I was satisfied with the steady growth of the company.

Now that the company was firmly rooted, I had some time to return to Korea.

"Young Master, you've arrived! The Chairman is waiting at the mansion."

"Why are you here personally? You could have asked the employees to handle this kind of task."

"Young Master, you've returned to Korea after a year and a half. It's only right for me to come in person."

Has it been that long already? From the Gulf War investments to recruiting talents including Jeffrey, and now the pound short-selling.

Several significant events had been addressed, and in no time, it was 1992.

"Dirrctor, you haven't changed a bit. You even look younger."

"Young Master has grown into an adult. You've gotten taller, and your features have become more pronounced."

"Technically, I'm still a minor. Let's discuss the rest in the car."

"I'll drive you to the mansion."

I rode in the car, personally driven by the Head of the Secretariat, to the mansion. Though only a year and a half had passed, the view of Korea from outside the window had changed considerably. It wasn't on par with how Seoul looked in my previous life, but now, Seoul could compete with any city in the world. 

While I was immersed in sightseeing, we had already arrived at the mansion. I gathered the presents for my grandfather from the trunk of the car and entered the mansion, where my grandfather was waiting for me.

"Looks like our puppy has arrived! Isn't American food agreeing with you? Your face seems to have slimmed down."

"It agreed with me a bit too well. I gained about 8 kilograms."

"You don't have an ounce of belly fat; what do you mean by 'gained'? Come on in. I've made a huge batch of your favorite beef short ribs."

Grandfather eagerly took my hand and led me to the dining table. He was clearly waiting for me to start eating, but instead of picking up a spoon, I took out a piece of paper from my pocket.

"What's that? Why don't you start with the meal?"

"It's something important. I want you to see it first. That way, I can eat my meal more comfortably."

Grandfather cautiously unfolded the piece of paper. It was filled with English text, but in his typical enthusiastic manner, he quickly grasped the content written on the paper.

"You got accepted! Into Harvard University, no less!"

"I actually wanted to get in last year. But there was more preparation involved than I anticipated, so it took a bit longer. I'm sorry for the delay."

"Delay? What do you mean by 'delay'? Your peers are heading to high school, but you're going to university already! 

"It's thank you that I got in."

"What did I do? It's all your efforts, Minjae."

Grandfather had managed to secure seven recommendation letters for me. He used every connection he had to collect recommendation letters from individuals who could help with my admission to Harvard.

In reality, the recommendations I could have obtained based on my abilities were more than enough, but I was truly grateful for my grandfather's heartfelt support.

"Thank you for waiting."

"Wait? You got accepted into Harvard's Economics Department, and I'm supposed to wait for a few years!"

Grandfather's voice was firm. Although he was approaching 80 years of age, he didn't look like a typical senior, thanks to his strict health management.

"I'm going to start eating now."

"Sure, take your time and eat a lot. Here! Let me heat the soup for you. Our grandson, who's attending Harvard, shouldn't be eating cold soup."

"Oh, if your grandson is coming, it's only natural to heat it. I haven't seen you smile like this in a long time, Chairman."

Grandfather couldn't contain his smiles. He even carefully removed fish bones and placed the morsel on my spoon, then handed me a glass of water.

It was this delicious meal that had kept me focused on my studies. I did study diligently to enter society as quickly as possible, but in some ways, it was also to make my grandfather happy.

After enjoying the delicious meal, just when I was about to engage in a heartfelt conversation with my grandfather, someone came to visit the mansion.

"Chairman, some guests have arrived. They're from the New People's Party."

"Oh, I told them not to come to the house. Well, let's bring them inside for now."

Politicians didn't want to advertise personal meetings with businessmen. It could lead to unnecessary gossip or not benefit them in any way.

Despite this, they came without even making an appointment? I was curious about what was happening, so I stood by my grandfather's side, waiting to welcome the guests.

"Chairman Kim, nice to meet you. It's been so difficult to meet you that I had to make an impolite visit."

"Why do you all come looking for me like this?"

"Is this young man next to you the famous chairman's grandson? I've heard stories that he inherited the chairman's talents."

"Well, he just got accepted into Harvard University."

"Oh my, this is indeed an auspicious occasion."

The visitor was Jun-gi Kang, a three-term member of parliament from the New People's Party. He was one of the prominent figures within the party, well-known for being straightforward and not someone to be trifled with.

Such a person was approaching my grandfather with such politeness? I pondered the reason carefully, and my past memories resurfaced. There was an event where the New People's Party wanted to nominate my grandfather as their presidential candidate. The 14th presidential election was now only ten months away.

I quietly entered my room as my grandfather entertained the guests. Then, I lay down on my bed, quickly running various scenarios in my head. However, no matter how many simulations I went through, there was not a single favorable outcome for my grandfather's political involvement.

As my head spun with too many thoughts, there was a knock on my door, and my grandfather entered my room.

"Have the guests already left?"

"They didn't have much to talk about. They're rather inconvenient people."

"Are they trying to nominate you for the upcoming election?"

"How did you find out about that?"

"Even in the United States, I kept up with news from Korea. Since there's no prominent candidate for the New People's Party, they must be considering you."

My grandfather's expression changed. The loving grandfather who looked at me had transformed into Kim Tae-jung, the chairman of Taewoo Group. (Tl note: Taejoon changed to Tae-jung.)

"Coming from a military regime, do you understand how difficult it was for Taewoo Group? Those people were a constant nuisance, even when I breathed. Do you think it'll be any different with the change of regime?"

"So, are you trying to become the president?"

"I haven't thought that far."

People's hearts are truly fickle. Objectively, my grandfather knows that he has a low chance of becoming president. However, the hard efforts of the New People's Party members and supporters can make one wonder.

"I'm still not in a position to inherit Taewoo Group."

"What do you mean?"

"If you become the president, you'll have to pass the company down to me, right? And if I inherit it, how will you handle the enormous inheritance tax? And if you become a presidential candidate, the media will scrutinize you thoroughly. How will you run a company without a speck of dust showing?"

I worked diligently to extinguish the sparks New People's Party ignited by questioning my grandfather's suitability for the presidency. My grandfather seemed to agree with my words as he nodded.

"Do you think I'm not cut out for the presidency, Minjae?"

"Of course not. If you, who have raised Taewoo Group to third place in the corporate hierarchy, were to become our country's president, you could certainly make it a better place. However, the presidency lasts only five years."

"You're right. It's only five years. I can't abandon Taewoo Group for such a short term."

"Think about the colossal taxes and inheritance taxes. Even investing half of that money into the next presidential candidate could bring you greater benefits."

My grandfather was a savvy businessman. For a businessperson, the most crucial thing is to maximize profits with minimal investment. When I delved into this, my grandfather's gaze changed once again.

He was no longer the person torn by his residual desires about becoming president, but the pragmatist who considered the cost-benefit ratio.

"Becoming president is nothing but an invitation for criticism. Supporting a presidential candidate, as you've suggested, could be several times more profitable. So, who do you think will be the next president?"

"Maybe YS or DJ?"

"The current chairman of Yeongro Group has already announced his candidacy and has a significant level of support. Why leave him out?"

"Because voters aren't foolish."

My grandfather gestured as if telling me to continue with my explanation.

"Running in the third-largest constituency in our country is considered difficult to win. With the support rate of the third-largest candidates, it will only reach the point of forming a ruling coalition in the legislature, and ultimately, the election winners will come from the two major parties."

"Minjae has a pretty sharp perspective on the world. So, who do you think has a higher chance of winning, YS or DJ?"

"I believe YS has a higher chance. However, we should also invest steadily in DJ. The presidential election will come around again in five years."

Knowing the historical fact, I confidently said that the person to succeed YS as president would be DJ.

"So, you're saying we should support both YS and DJ?"

"Or we shouldn't support either of them."

"Minjae seems to have had too much American water. A presidential word can make even the largest conglomerate in Korea stumble."

Supporting YS might lead to the fall of Taewoo Group when the foreign exchange crisis hits. I couldn't bring myself to say this to my grandfather, so I remained silent.

"... "

"Minjae, you'll understand what I mean when you run a company yourself. There are things that are unreasonable and unjust, but you can't help them."

"I'll grow Taewoo Group in a way that it won't collapse under any circumstances."

"Okay, I'll handle all the unpleasant things, so you can do that after you take over Taewoo Group."

"Grandfather, that's why I wanted to talk. I want to start laying the foundation from now on."

The reason I came to Korea was to bring up this subject. Boasting a Harvard acceptance certificate was a minor reason.

"A foundation, you say... What do you want to do?"

"I want to recruit and support Taewoo Group scholarship students."

"The group already supports many scholarship students."

"I know that very well. However, I believe that to ensure Taewoo Group doesn't crumble in the face of storms, we need more scholarship students and support than we currently have."

"I understand the meaning, but the cost of raising one scholarship student is higher than you think."

In the end, it came down to money.

My grandfather, who didn't want to spend a large sum on scholarship students who couldn't be immediately useful, said:

"Please just create the Taewoo Group Scholarship Foundation. I'll handle fundraising and operations. Running a scholarship foundation might also be a valuable experience for managing the company, don't you think?"

"Haha, you've grown old enough to understand the value of money. Experience how challenging it is to run an organization."