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CH98 | Heir
🕑 Added 2025-04-10 02:34:16 +0000 UTCTwo weeks later.
At my request, my grandfather convened an executive board meeting.
"Director Kim Min-jae requested this meeting. Let’s hear what he has to say."
"I would like to update you on the progress of my plan to recover Taewoo Construction’s performance, as I mentioned in the last executive meeting."
After a brief pause, I continued.
"I established contact with a renowned investment firm on Wall Street and formed the Quantum Consortium. The consortium has secured contracts with the government for the Subway Line 9 and Geoga Bridge projects, and they have agreed to appoint Taewoo Construction as the primary contractor."
"I’ve heard that the Quantum Consortium landed major contracts, but the primary contractor must be determined through bidding."
President Jang Soo-young quickly seized the opportunity to nitpick.
If I succeeded in something he couldn’t, his position would weaken even further. Naturally, he wanted to undermine me in any way possible.
"The Quantum Consortium has set a requirement that only construction firms with a debt ratio below 50% can participate in the bidding to ensure project stability. Taewoo Construction is the only company that meets this criterion."
"So, we’ll be exclusively handling the Subway Line 9 and Geoga Bridge projects?"
"Not just that. There are other projects still under discussion with the government. Once negotiations are finalized, those contracts will also go to Taewoo Construction."
President Jang Soo-young’s face darkened.
In contrast, my grandfather’s expression brightened considerably.
"Ha-ha, with Subway Line 9 and Geoga Bridge alone, the construction costs will exceed 4 to 5 trillion won."
"Exactly. Since both projects will take at least three years, we won’t have to worry about securing contracts for a while. By the time the economy recovers, the real estate market—including apartments—will bounce back, so this buys us the time we need."
Smaller construction firms were collapsing due to a lack of projects.
Even large firms were undergoing restructuring.
While everyone else was stepping back, we were moving forward.
"Taewoo Construction will soon surpass Hyunjae Construction. Director Kim, you’ve done an incredible job. To think you managed to mobilize Wall Street—remarkable."
"It was possible because this was a profitable business. The government has guaranteed a minimum revenue, so Wall Street has nothing to lose."
"Ha-ha, even if the project goes wrong, we won’t be the ones blamed. With Wall Street as our shield, we can just sit back and reap the rewards."
My grandfather had spent decades in the construction industry.
He knew exactly what kind of controversy a minimum revenue guarantee could stir up.
And he also understood that if things went south, it wouldn’t be Taewoo Construction taking the heat—it would be the Quantum Consortium.
"For the sake of Taewoo Group’s reputation, partnering with a Wall Street-backed consortium was essential."
"Indeed. We’re merely subcontractors carrying out the construction under Quantum Consortium’s lead."
"That brings me to another important point."
I hadn’t called this meeting just to boast.
The government and media would already spread news of our contracts with Quantum Consortium.
The real reason for convening this executive meeting was to leverage this success to push forward another plan.
"Go on."
"Just as Quantum Consortium served as the scapegoat for this project, I believe we should set up a similar shield for the newly acquired company."
"Why would we need a scapegoat?"
"The newly acquired company requires restructuring and management reforms. However, if Taewoo Group directly executes large-scale restructuring, all the backlash will be directed at us."
"So, you’re suggesting we appoint someone to take the blame on our behalf?"
"If we conduct restructuring and audits through an external consulting firm before officially acquiring the company under Taewoo Group, wouldn't that help distribute the criticism?"
It was time to bring Dimon to the forefront.
While having a scapegoat was important, I also needed Dimon to handle this task to enhance the company's competitiveness through restructuring.
"Hmm, it’s not a bad idea. But from the audit team’s perspective, they might feel like their work is being taken away."
"The audit team will collaborate closely with the external consulting firm to carry out the audits. The only difference is that it will be conducted unofficially rather than formally."
"What does everyone think?"
No one opposed the idea.
Since I had achieved what even the president of Taewoo Construction couldn’t, no one dared to challenge me.
On the contrary, several executives, including President Woo Sung-il, raised their voices in support.
[That’s an excellent idea. Using an external consulting firm will ensure a more transparent audit process.]
[According to government policy, every company must undergo restructuring. If we use an external consulting firm, the acquired companies will integrate into Taewoo Group without resistance.]
[I fully support Director Kim Min-jae’s proposal.]
The decision to use an external consulting firm was approved.
All procedures were delegated to the planning office, giving me full control over selecting the consulting firm.
***
After the meeting, I headed to Captain Kang’s office.
I collapsed into a chair beside Dimon and David, who looked utterly exhausted from negotiating with the government.
"Good work. The negotiations are almost complete now, right?"
"We've signed additional contracts for two tunnels and three highway sections. There are still some details left to negotiate, but an official announcement should be made soon."
"Dimon, it's time for you to step away from private investment projects."
Dimon straightened his posture, a sly smile creeping onto his face.
"So, the time has finally come?"
"Starting this week, you'll be working as the head of the external consulting firm."
"I'll make sure to skillfully 'operate' these companies and safely attach them to Taewoo Group."
If he hadn’t ended up on Wall Street, Dimon probably would have been either a surgeon or a butcher.
The thought of restructuring already had him drooling.
"Just make sure the restructuring helps them integrate smoothly into Taewoo Group. If you cut too much, the projects won’t function properly."
"Don’t worry. I’ll focus on removing those who use the company to line their own pockets."
Meanwhile, David remained unresponsive.
After spending days drowning in alcohol, he looked as if sweat had been replaced with liquor.
"David, it’s time for you to start a new job too."
"Which construction project do I need to win this time? Drinking with construction executives is getting a bit tiresome."
"Not the construction industry—politics."
David finally straightened up.
And as I continued speaking, he even stood up from his chair.
"American politics, to be precise."
"So, it's finally time for me to put my expertise to use. Who am I meeting? The ruling party? Or the opposition?"
"Isn’t it time we started preparing for the next U.S. presidential election?"
"There are still more than two years left. You’re already getting started?"
"Would offering wealth to a dragon that has already ascended do any good? You have to invest in a hidden dragon for it to be effective."
I had reaped considerable benefits from backing Clinton.
But David had a different perspective.
"We helped Clinton win two elections, but didn’t you gain very little in return? The returns were too small compared to the investment."
"How can you say we gained nothing? As long as the U.S. government doesn’t stand in our way, that’s already a win for us. And just the fact that Taewoo Motors was conveniently excluded from the Super 301 trade sanctions was benefit enough."
"Other donors got actual policy changes or secured government-led projects, but you didn’t push for anything like that."
"This isn’t a short-term business. If we show that our demands are smaller than other donors', it'll be easier for them to work with us in the future."
Going against the U.S. government would make things difficult in many ways.
Not just for Taewoo Group, but also for SAVE Investment—our relationship with Washington was crucial.
"Well, if you says so, then that’s how it is. So, who are you planning to support this time?"
"That’s what I’d like to know, too. I’ve heard that everyone you’ve backed so far has become president. Who’s the next U.S. president?"
David and Dimon leaned in, their ears perked up.
As Americans, their curiosity about the next president was only natural.
"I'm thinking of supporting the Republican Party this time."
"The Republicans have multiple candidates. With both the current president and vice president being Democrats, the GOP is struggling to find a strong leader."
"Still, there must be some frontrunners, right?"
"There are. Former President George H.W. Bush’s son is currently the governor of Texas, and Senator John McCain is another strong contender."
David had an in-depth knowledge of politics.
It was hard to find a politician in the U.S. who hadn’t shared a drink with him at some point.
"I’m planning to support Bush’s son. Since his father was president, he can benefit from the family’s political influence."
"Then we need to make contact quickly. The Republican Party has plenty of funding, so if we’re too slow, we won’t even have a seat at the table."
"There’s still plenty of time before the election. Approach it naturally. Ah! Start by reaching out to former Secretary of State George Shultz. There’s a rumor that he supports Bush’s son."
"You mean George Shultz, the former Secretary of State? I actually met him once before."
David’s eyes lit up.
He seemed to be forming a strategy in his mind, and while he was lost in thought, Dimon spoke up.
"If power shifts from the Democrats to the Republicans, Wall Street is going to be in turmoil."
"That’s inevitable. Oh, and let me make you a promise—before the Republican administration ends, I’ll keep the promise I made to you earlier."
"That makes it sound like Wall Street won’t just be in turmoil, but in absolute chaos."
"There’s no opportunity without crisis, is there?"
"I trust only you, sir, and I will focus on doing exactly what you ask."
Dimon pulled out his phone.
Running an external consulting firm required a lot of manpower.
He began gathering people, not just from SAVE Investment but also by leveraging his personal network.
Dimon’s restructuring skills were truly top-notch.
Within a month, he had completely transformed CL Telecom and Shinsae Telecom into entirely new companies.
Then, he merged the two with Taewoo Telecom, creating a massive telecommunications conglomerate.
With three companies merging, factional disputes were inevitable.
To prevent infighting, a strong leader was necessary, yet the president of Taewoo Telecom remained unchanged.
Lee Ju-young, President of Taewoo Telecom.
Keeping him in place was largely my decision.
Since he was part of the faction that supported me, along with President Woo Sung-il, I could easily control him.
That’s why, as soon as his reappointment was confirmed, he came straight to the planning office—
And now, like a subordinate reporting to a superior, he was briefing me on the state of Taewoo Telecom.
"Although we’ve merged the two telecom companies, our market share is still lower compared to the top two competitors. I plan to implement aggressive marketing strategies to increase it as much as possible."
"From now on, any phone Apple releases will be launched first through Taewoo Telecom. Our market share will naturally rise."
The relationship between telecom providers and smartphone manufacturers was inseparable.
Many telecom companies secured contracts with phone manufacturers to boost their market share.
But we had already reeled in the biggest fish—Apple—so there was nothing to worry about.
