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Tuesday, October 17, 2023

Chapter 9

 Episode 9: Jeffrey (Part 2)


"I have an internet business idea I've been conceiving. Would you like to take a look?"


"It's not difficult to take a look."


"I've only conceptualized it in my mind, so I don't have any organized materials. I'll write it down for you."


I retrieved a napkin from the desk and jotted down the words "Customers, Sellers, Products, Low Cost" in a circular shape.


"So, you mean attracting more sellers with good customer experiences and selling a wider variety of products at lower prices?"


"That's right! I knew Jeffrey would grasp it right away."


Of course, he had to.


A napkin with a circular diagram.


The idea was not mine but Jeffrey's – the driving force behind creating a company worth 200 trillion won.


The beginning of the giant corporation known as "Horizon."


An idea scribbled on a single napkin, and Jeffrey was the visionary founder behind this idea.


"It's a fantastic idea! It's not only essential for the upcoming internet era but also a creative idea."


"If you join our company, you can bring this innovative idea to life. If you wish, you can even start your own company, and we'll fully support your entrepreneurial efforts."


"For now, I want to focus on the project I'm currently working on. I can't decide to switch right away."


"I'll give you the napkin as a gift. Take it home, think it over thoroughly, and make a decision. Oh, and by the way, Meg joined our company too."


"...I'll think it over today and get back to you tomorrow."


His expression changed upon hearing the name Meg.


Meg, with that nickname, would later become Jeffrey's partner in the future.


That was one of the reasons I didn't just bring Jeffrey but also my employees with me.


Although the company created by Jeffrey's idea was "Horizon," the effort of Meg, who stood by his side, could never be underestimated.


It's still uncertain whether Jeffrey and Meg evolved into a romantic relationship, but it was likely that he recognized Meg's importance in his heart.


However, I felt a twinge of conscience.


After all, Mac and Jeffrey would eventually divorce amid a massive alimony dispute.


But that's an event 25 years in the future, so there's no need to worry about it now.



Jeffrey left the office holding the napkin.


He had said he would think it over for a day, but his decision came rather quickly. He returned to the company and announced his decision to switch careers before the end of the workday.


I had anticipated his return to the office and spent my time waiting, solving SAT practice questions.


"I don't know if it's the right thing for me, but I'll put my future on the line with SAVE."


"I'll make sure you won't regret it."


We shook hands firmly.


His hand exuded tremendous determination and fiery resolve.


"I need to submit my resignation at my current job and complete the handover process. I'll do it as quickly as possible and join your company."


"Take your time."


With his decision solidified, Jeffrey finally found some peace of mind. He sipped the coffee brought by Team Leader Hwang and observed the company's atmosphere. Then, he noticed the book on my desk.


"Why are you solving SAT questions? I've heard of people solving math problems as a hobby, but it's my first time seeing someone tackle SAT questions."


"Of course, I'm trying to get into college."


"Are you serious, sir?"


"Given my age, I think it's about time."


For a while, Jeffrey stared at my face intently. Then, he seemed to realize that I was indeed quite young.


"Haha, I see. Haha."


Jeffrey laughed awkwardly, his face stiff.


It seemed like he wanted to reconsider joining the company. But it was too late; the contract had already been signed.


* * *


A month had passed since Jeffrey joined the company. I not only gave him the title of Vice President at SAVE Investment Company but also delegated full authority within the company. It was a measure I took because I believed in him, and Jeffrey fully lived up to his potential.


I monitored how the company was changing daily, relying on reports from the four stockbrokers.


"Minjae-nim, Jeffrey is not a human being."


"He's not a human; he's a devil."


"A devil? No, we should call him a demon king."


"I'm starting to feel like working at Taewoo Securities was comfortable. He treats people like machine parts."


The four stockbrokers were exasperated, even though they were accustomed to South Korea's demanding work environment.


"So, you don't like Jeffrey's approach? Isn't the company running properly?"


"...That's not it. In fact, our profits have increased by at least 30% if we only look at investments Minjae-nim hasn't taken the lead on."


Team Leader Hwang sighed and explained.


While Jeffrey's approach was tough, the increased profits for the company made it hard to reject his methods.


Jeffrey possessed three types of S-level job skills. One of them was productivity. He had a remarkable ability to maximize productivity by managing employees effectively.


During his time leading Horizon, there were stories like these:


- "Why bother installing air conditioning in the factory when hospital bills are cheaper? If you need to urinate, you can do it in a bottle."


Working under someone like that, how challenging it must have been for the four stockbrokers and other employees.


Those with weaker hearts would quickly resign.


Even during Jeffrey's tenure at Horizon, it had the shortest average employee tenure among IT companies. If you could endure for one year, you received praise, and if you endured for ten years, you became a legend at Horizon.


Jeffrey was the person who wielded the whip better than anyone. However, relentless whipping alone would eventually lead to people leaving.


I didn't want to lose employees with A-level job skills that were difficult to find, so I decided to use a carrot approach.


"I will give a performance bonus of 20-30% for investments other than the ones I lead."


"Isn't that too much?"


"Well, other traders on Wall Street receive similar bonuses, so it's only fair to give them accordingly."


The average annual salary on Wall Street was roughly around 200 million won. However, bankers and traders received bonuses that could range from 50% to several times their annual salary.


The whip was in Jeffrey's hand, and the carrot was in mine. This was the way to retain talented individuals to the fullest.


"So, for the projects you lead, are you still going to provide a 1% bonus?"


"Of course. They are my ideas, after all. I'll also allocate a portion as an end-of-year bonus for Jeffrey, but I'll discuss the details of his performance bonus separately."


"If discussions about performance bonuses continue, it seems like more employees will be leaving their resignation letters."


"I hope no team leader has written one, right?"


"Oh, no, not at all."


No matter how many resignation letters were written, they would never be accepted. While other employees might not know this, a team leader with A-level job skills, especially, would never be allowed to leave.


* * *


On the last day of March, five private tutors, including the consultant, gathered in the living room to discuss my SAT performance.


"Your SAT scores in March were excellent, ranking in the top 2 percent."


"Thanks to the excellent teachers, it was possible."


In Korea, the College Scholastic Ability Test (CSAT) is taken only once a year. However, in the United States, the SAT exam can be taken up to seven times a year. But taking the SAT repeatedly without a plan doesn't necessarily help with college admissions. Some colleges accepted all SAT scores a student had taken, while others only considered the best ones.


"In terms of your test scores, you should be able to apply to top schools like Harvard and Stanford. But admission is not guaranteed."


"What's missing?"


"The most important thing for college admissions is SAT scores, but other factors such as extracurricular activities, essays, and recommendations are also important."


This was what the most famous consultant in the United States had to say. Unlike Korea, the U.S. admissions process had separate criteria for each university.


"I'll handle extracurricular activities and essays on my own."


"If you receive assistance from the Taewoo Group, that part will be resolved."


The consultant seemed to be under a misunderstanding. While it was true that assistance from the Taewoo Group would be effective, the Taewoo Group was ultimately my grandfather's company, not mine.


Did I really need to seek help from an outside party?


I owned SAVE Investment Company, after all. Of course, I couldn't openly say that I was the head of SAVE, but using SAVE's systems, I could easily fulfill the requirements for extracurricular activities and essays.


"We just need to take care of the recommendation letter."


"Can we get help from the Taewoo Group for that as well? A recommendation letter from a well-connected person in the corporate world would be a big advantage."


"I'll look into it."


"I've handled many student clients so far, but this is the first time it's been so easy. You're achieving excellent test scores on your own, and I don't have to worry about the rest...and, well..."


The consultant seemed to hold back the rest of his words. Perhaps he was going to mention something about the generous compensation.


Days went by, and I continued to focus on my SAT studies while trying to find a suitable person to provide a recommendation letter. However, it was during this period that Jeffrey brought me some exciting news.


"Boss, Stellar Investments contacted us. They have a promising investment opportunity and proposed that we work together."


"Stellar Investments? Is it the hedge fund with George and Jim?"


"Yes, that's the one. A highly reputable hedge fund on Wall Street."


I'm familiar with Stellar Investment, of course. In my past life, I spent over ten years studying at Stellar Investment. It was one of the places that played a part in causing the collapse of the Taewoo Group during the Asian financial crisis.


Can an individual really win against a nation? The answer to that question was provided by Stellar Investment, which battled against nations and made money. Stellar Investment pushed Thailand, the starting point of the Asian financial crisis, to the brink, causing even South Korea to stumble and the Taewoo Group to crumble.


"Is the proposal you've made this time related to shorting the British pound?"


"Yes, that's correct. Stellar Investment has been attacking the British pound since last year, and many Wall Street hedge funds are supporting them."


The time to determine the direction of Stellar Investment had come. Until now, Stellar Investment had made profits through shorting defense industries or overvalued companies. However, starting with the shorting of the British pound, they must have realized that fighting against a nation could yield enormous profits.


"It seems that our SAVE Investment Company has made quite a name for itself if Stellar Investment is offering proposals to us."


"Stories about the substantial profits we made from the Gulf War are gradually spreading. And it's known that most of Wall Street's companies have received proposals from Stellar Investment."


"We have to fight against the UK, and it's disappointing to part with a single penny."


What should I do? Stellar Investment was the starting point for toppling the Taewoo Group. While part of me wished to stand on the opposite side, my desire for revenge was currently outweighed by the importance of money.


"Please arrange a meeting. If we express our intention to invest at least $5 billion, they should agree to meet with us, right?"


"I'll try to schedule a meeting within this week."


I can do whatever it takes to protect my group and family. Even if it means joining forces with the mastermind behind the financial crisis, I am prepared to shake hands and smile.



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