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CH93 | Heir
🕑 Added 2025-04-08 05:39:57 +0000 UTCOne week.
That was all it took for 3 trillion won to flood into the patriot fund (WIN-WIN Fund) launched by Taewoo Securities.
Salaries from office workers, retirement payouts from fathers who had left the workforce, even the spare savings of mothers—all of it poured into the patriot fund.
Even I hadn’t expected such an explosive response.
I had assumed it would take at least a month to surpass 3 trillion won, but we reached the target in just a week.
President Park Man-deok was just as astonished.
Even now, he was overwhelmed by the sheer number of fund subscribers continuing to surge in.
"Our people really have a strong sense of patriotism, don’t they? Gathering 3 trillion won in just a week."
"The patriotic marketing played a role, but I think the real draw was the principal guarantee."
I thought so too.
The Buy Korea Fund had taken two months to reach 5 trillion won.
But because we guaranteed the principal, we managed to secure 3 trillion won in just a week.
"Then, as promised, we can proceed with selling the card company, right?"
"Just reaffirm your promise that we’ll be able to reacquire a card company within four years."
"I give you my word. I’ll acquire a bigger card company than before and deliver it to Taewoo Securities. In the meantime, focus on the fund. I’d rather not dip into my personal assets."
Not that I expected to use my personal assets anyway.
Within a year, the KOSPI index would rise more than fourfold.
At this point, even a novice investor wouldn’t lose money.
No matter what stocks you bought, at the very least, your principal was safe. And if you picked the right ones, you could see returns of ten times or more.
There was another reason, too.
SAVE Investment was currently buying up Korean stocks.
Right now, no other market was as profitable as Korea.
That’s why they were pouring most of their remaining funds, after buying U.S. IT stocks, into the Korean market.
"Oh! And before other securities firms launch similar funds, ramp up the marketing even more aggressively."
"I’ve learned a big lesson this time. We’ll continue producing ads that emphasize patriotism."
"The Korean stock market is at its lowest point right now. This is Taewoo Securities’ chance to prove its capabilities. I want to see you around for a long time, President."
"I’ll do my absolute best!"
That was my way of telling him to secure his position.
If he wanted to keep his seat as president of Taewoo Securities even after I became chairman, he needed to deliver high returns with the patriot fund.
I left Taewoo Securities and headed to Taewoo Electronics.
I was there to receive a report on the tasks I had assigned to President Woo Sung-il. He had everything fully prepared and was waiting for me.
"Reporting in. The negotiations with the Copyright Association have been successfully concluded. Also, starting this week, music programs from the three major broadcasting stations will resume, and digital streaming scores will now be factored into the rankings of all programs."
"Perfect timing, since the IT department just launched our music streaming site. Well done."
Woo Sung-il bowed deeply.
The angle of his bow was like a public opinion poll.
From that angle alone, I could gauge my standing within the group.
And judging by how low he bowed, my position must be quite solid.
"We’ll have everything fully prepared before the iPod launch."
"Since iPods will be sold exclusively through Taewoo Electronics, we need to make sure we lay the groundwork properly."
The relationship between Apple and Taewoo Group was more than just a partnership.
Naturally, Taewoo Electronics secured the exclusive distribution rights for the iPod in the Korean market.
With its explosive popularity in the U.S., many companies had their eyes on it, but without a chance to intervene, the exclusive rights were handed solely to Taewoo Electronics.
"Also, InnoPhone 2 is set to launch next month. Since it will only be sold at Taewoo Electronics stores, it should also boost sales of other home appliances."
"Customers are already visiting our stores looking for the iPod."
"You know what they say—strike while the iron is hot. Take the lead and launch additional marketing campaigns."
"I will do my best to deliver results."
Just as Woo Sung-il's report was coming to an end, a message popped up on my phone.
The moment I saw the sender’s name, a triumphant smile spread across my face.
[Sender: Kim Young-seo]
***
A few days earlier.
Kim Young-seo, the matriarch of CL Group, lay in bed with a white cloth wrapped around her head.
Seeing her like that, CL Group’s Chairman, Go Seung-taek, let out a sigh.
"Do you really have to go this far? Why are you suddenly so obsessed with the department store business?"
"You know just as well as I do—I think of Kyung-mo as my own son. I have no objections to you passing the group on to him. But don’t you think our daughter is being treated unfairly? She was born the eldest, yet she’s receiving nothing. Shouldn’t we consider her future too?"
Chairman Go let out another deep sigh.
Of course, his daughter weighed on his mind as well.
Adopting his nephew as heir to the group wasn’t entirely his own decision—it was a matter of family tradition.
CL Group was deeply rooted in Confucian values, and this was an unavoidable choice.
"I understand your desire to start a department store for Yeon-jin. But does it have to be a department store? She could just as easily manage a foundation or an art gallery."
"Why do you think that? Do you really believe Yeon-jin and I are incapable of running a department store?"
"That’s not what I mean! I’m saying that starting a department store from scratch isn't feasible given the group's current situation."
"Who said anything about starting from scratch? Everyone already knows Taewoo Group is looking to sell its department store. You can’t pretend you’re unaware."
Taewoo Group had deliberately spread rumors about the sale.
It was bait, meant to lure CL Group. And Kim Young-seo took the bait without hesitation.
"Do you really think Taewoo Group will just hand over the department store?"
"Are you rejecting the idea without even attempting negotiations? Is it really that difficult to at least have a conversation?"
"Hmm… fine. You handle it yourself."
"Are you serious? A man’s word is worth a thousand gold pieces. You can't take it back."
"Tsk. Once you start talking to them, you'll realize just how formidable Taewoo Group really is."
Chairman Go clicked his tongue and left the bedroom.
As soon as he was gone, Kim Young-seo removed the cloth from her head and began making phone calls.
Running a gallery had allowed her to build an extensive network, and she was now mobilizing every connection she had to lay the groundwork for acquiring Taewoo Department Store.
It took several days, but she finally managed to put together a plan.
Only then did she make the call—to the heir of Taewoo Group.
***
The inner garden of CL Art Gallery.
There, Kim Young-seo awaited me, dressed elegantly in a traditional hanbok.
"I never knew the gallery had such a beautiful park. It feels like I’ve stepped into a French château."
"Thank you for saying so. I personally prepared some tea for you. Please, have a sip first."
It took a long time before she finally got to the point.
Only after finishing an entire cup of tea and discussing various art pieces did she cautiously bring up the topic of Taewoo Department Store.
"Do you truly intend to sell Taewoo Department Store?"
"The government is pushing for a big deal policy, so shouldn't Taewoo Group do something as well? I believe selling Taewoo Department Store would be a suitable gesture to make a statement."
"Then, if we were to make a big deal with CL Group, what would you want in exchange for Taewoo Department Store?"
Kim Young-seo had always carried herself with elegance and grace.
But at this moment, she reminded me of my grandfather.
That familiar look of greed—one I had seen countless times whenever he was acquiring a company.
It was clear as day just how much she wanted Taewoo Department Store.
"If we're going to make a big deal with CL Group, we need to think bigger. Otherwise, the government won’t accept it."
"Naturally, the terms would have to be mutually beneficial, wouldn't they?"
"We can package Taewoo Department Store and Taewoo Card together and transfer them to CL Group. With these terms, wouldn’t it be a true WIN-WIN?"
"Taewoo Card as well? ...Then what do you want from us in return? I need to know that to determine if this is really a WIN-WIN."
The greed in Kim Young-seo’s eyes deepened.
Taewoo Card wasn’t even in the same league as Taewoo Department Store.
"I believe CL Electronics' battery division and CL Telecom would be a fair exchange. Frankly, my grandfather isn’t entirely pleased with the idea, but to satisfy the government, the deal has to be on this scale, don’t you think?"
"So, you're asking for the battery division and CL Telecom."
"What do you think? Doesn’t it seem like a fair WIN-WIN?"
"From my perspective, it does. But… is Executive Director Kim Min-jae even in a position to decide the sale of Taewoo Card?"
It was only natural for her to be skeptical.
After all, I was only in my mid-20s.
"I was the one who decided to sell Taewoo Shipbuilding to the current group. I also led the joint venture with Aramco to establish Taewoo Refinery/Energy. Compared to those deals, this big deal is actually quite small in scale."
"It seems Chairman Kim Tae-joong places great trust in his grandson."
"Not as much as Chairman Go Seung-taek trusts you, Mrs. Kim. Everyone knows that you are the one he relies on the most."
I fed her ego deliberately.
The more confident she felt, the more actively she would push for this deal.
"I’ve heard you out. I’ll bring you some good news soon."
"There’s no rush. Until I hear your response, I won’t be pursuing any big deals involving Taewoo Department Store and Taewoo Card with anyone else."
"By the way, don’t you have any thoughts of meeting Yeon-jin?"
"……."
The sudden shift in conversation caught me off guard.
I hadn't expected an attack like this.
"The more I think about it, the more I believe there's no one more suitable for Yeon-jin than you, Executive Director Kim."
"I still have a lot to learn. Besides, Yeon-jin just entered university. I’m sure she’d like to gain more life experience first."
"I’m not saying you need to marry her right away. Just getting to know each other and building a friendship wouldn’t be too much, would it?"
"…If time permits, I suppose that would be fine."
"That answer is good enough for me. Then, I’ll be seeing you again soon."
I stood up, wiping the cold sweat from my brow.
As expected of CL Group’s matriarch—she was no pushover.
I took a few days to relax while waiting for Kim Young-seo’s response.
But instead, I received an unexpected call.
My grandfather, who had taken the call first, came to see me.
"Chairman Go Seung-taek of CL Group wants to meet you. If you’d like, I can go with you."
"That won’t be necessary. If I go with you, wouldn’t that make me look like a child?"
"Haha, I see. It’s about time you started facing the heads of major corporations yourself."
Dealing with conglomerate chairmen was nothing new to me.
After all, I had spent years opposing my grandfather—I had to be used to it by now.
"Before long, CL Telecom will be renamed Taewoo Telecom."
"And you should also consider that Taewoo Card will be rebranded as CL Card. No matter how I think about it, it’s such a shame to let it go."
"Taewoo Securities has already found a new cash cow, so you should let go of your regrets about the card company. Besides, just wait four years—I’ll bring it back to you."
"I heard that the fund has already amassed well over 3 trillion won. President Park Man-deok of Taewoo Securities is absolutely ecstatic."
The national/patriotism investment fund wasn’t just about convincing Park Man-deok.
It was also a way to ease my grandfather’s lingering attachment to Taewoo Card.
"The Taewoo Securities fund is going to grow several times larger than it is now. Large enough that you won’t even think about the card company anymore. Should I change the deal—trade Taewoo Fund instead of Taewoo Card?"
"You little rascal! You’re toying with your grandfather now. Just who did you take after to be like this?"
"Who else? I take after you, of course. And don’t you think I need this level of guts if I’m going to face Chairman Go Seung-taek?"
"He’s in for quite a challenge, that’s for sure. I’ve set up a meeting for tonight, so don’t be late."
My grandfather adjusted my tie.
I could feel him instilling confidence in me—making sure I wouldn’t falter before the head of CL Group.
