InkBound
patreon
CH53 | Heir
🕑 Added 2025-03-26 03:41:29 +0000 UTCEven if I took the president position at Taewoo Electronics, I would just be a puppet.
I wouldn’t be able to go against Grandpa’s wishes, nor would I have the authority to implement the reforms I envisioned.
That’s why I needed shares.
For the first time in my life, I decided to dig in my heels and throw a fit to get them.
"I’m young, and my influence is limited. Holding a substantial share in the company is the only way I can properly manage Taewoo Electronics."
"You’ll inherit the shares when the time is right. You’re my only remaining bloodline—what are you worried about? Do you think I’ll donate them to the state or something?"
Grandpa would never do such a thing.
While he had poured money into charitable activities and scholarship foundations, the thought of handing over a single cent to the government made him tremble with rage.
"I know I’m being stubborn right now. But after dealing with Park Jin-hoon, I realized that a title alone isn’t enough. Without ownership, there will always be factions that refuse to recognize my authority."
"Who dares to ignore you? I recently had dinner with a few affiliate company presidents, and they all said they fear you more than the Grim Reaper himself."
I had certainly caused enough turmoil.
The moment I joined the company, I stirred things up in Changwon, shook up the audit team, and now I had even ousted the president of Taewoo Electronics.
By now, my presence was undoubtedly well-established.
"I have no intention of ruling through fear. I want to drive this company forward with innovation—just like we did with InoPhone. To do that, I need full authority."
"But you don’t necessarily need shares to wield full authority. I could simply declare in the board meeting that you have complete control over Taewoo Electronics' management, couldn't I?"
"I need to be the true owner of Taewoo Electronics to continue developing groundbreaking products like InoPhone. I’ll turn this company into the world's number one electronics manufacturer—far surpassing Samjin Electronics."
It wasn’t a lie.
I fully intended to make Taewoo Electronics the best in the world.
Of course, it wouldn’t remain just another subsidiary of Taewoo Group—it would become a multinational giant.
"Do you really have that much confidence?"
"You asked me the same thing when I first proposed InoPhone. I never act based on mere confidence. I analyze everything thoroughly using reports from the research lab before making any decisions."
"The market potential for smartphones is indeed staggering, just as the reports suggested. But it makes me wonder—why have I never seen such reports before?"
"Because there are forces deliberately keeping you in the dark. To fight and overcome them, I need ownership of Taewoo Electronics."
Every conversation ultimately led back to one thing—shares.
In the end, Grandpa let out a long sigh, half-resigned to my persistence.
Just as parents can never truly win against their children, a grandfather can’t win against his grandson either.
"Fine. I’ll transfer ownership of Taewoo Electronics' shares to you. But you’ll have to take care of the inheritance tax yourself. You can manage that, right?"
"I’ve been saving up all the allowance you’ve given me. I can cover the taxes."
"You clearly have no idea how terrifying Korea’s inheritance tax is. The amount will be far greater than you expect."
"If I can’t even handle that, how can I expect to run Taewoo Electronics?"
"Ha! You really are something else, kid."
With that, Grandpa led the way back to the boardroom.
All the executives were already seated, waiting for him.
The moment he took his seat at the head of the table, he got straight to the point.
"Ahem. I’ve decided to appoint Kim Min-jae as the president of Taewoo Electronics. Does anyone have any objections?"
[I support this.]
[Kim Min-jae is the right person to lead Taewoo Electronics.]
[The future of Taewoo Electronics looks very bright.]
Once again, a show of loyalty unfolded.
As several affiliate presidents rushed to express their approval, the more neutral ones remained silent, offering no objections.
"Since there are no dissenting opinions, we will proceed with the appointment procedures within the week. And! …I will transfer all of my shares in Taewoo Electronics to Kim Min-jae."
[That is a wise decision. Transferring all affiliate shares at once would make the inheritance tax unmanageable.]
[This will ensure that Kim Min-jae carries a strong sense of responsibility in managing the company.]
[The distribution of company shares is entirely at the chairman’s discretion. It is not our place to interfere.]
The sycophants chimed in once more.
But then, one of the previously neutral presidents voiced his concern.
"Isn’t this a bit too soon? The shareholders of Taewoo Electronics may react negatively."
"I will personally ensure that the stock price rises. By aggressively promoting the sales figures of InoPhone, we can drive the stock value even higher."
I swiftly countered the opposition.
I had already come this far—if I failed to secure the shares now, I wouldn’t be able to sleep at night out of sheer frustration.
"It seems there are no major objections. Then, I will have the legal team begin the inheritance procedures. Kim Min-jae—no, I should call you president now—say a few words about your commitment to leading Taewoo Electronics."
Grandpa handed me the floor, a clear signal to the executives that further debate was unnecessary.
I took a deep breath and spoke words I knew they would want to hear.
"I will transform Taewoo Electronics into the world's leading electronics company, surpassing even Samjin Electronics. Our products will not only be durable but will also set the standard for cutting-edge technology. If you ever see areas where I fall short, please don’t hesitate to advise me. I will always value the wisdom of my senior colleagues."
I deliberately referred to them as "senior colleagues"—a reassurance that I would not disregard them.
It was exactly what they wanted to hear.
Sure enough, their response was overwhelmingly positive, and I was met with thunderous applause as I officially became the president of Taewoo Electronics.
As the meeting concluded, I prepared to return to the research lab to pack my things.
But Grandpa stopped me.
"Come with me. There’s somewhere we need to go."
"If the chairman says so, I’ll clear my schedule."
"We’re not going as president and chairman. We’re going as grandfather and grandson. So relax."
Where were we headed?
Judging by the smile on Grandpa's face, it was clear he wanted to show me off.
And why wouldn’t he?
At barely twenty, I had already risen to the position of president of Taewoo Electronics—certainly a point of pride.
I didn’t bother asking where we were going and simply got into the car.
It was only upon arrival that I realized who Grandpa wanted to introduce me to.
"This is Chairman Jang’s estate."
"Ah, so you recognize it?"
"Of course. It’s frequently featured in the news."
Korea’s largest conglomerate—Hyunjae Group.
This was the home of Jang Young-joo, the man who built a vast empire from humble beginnings, starting with a simple rice delivery service.
"Don’t be too nervous. Today’s just a casual introduction."
"With you by my side, what’s there to be nervous about?"
"Good. Then let’s go in."
Was this what people meant by being overwhelmed by an atmosphere?
I could feel the weight of the moment pressing down on me.
Although it was the mansion of Chairman Jang, the leader of Korea’s number one conglomerate, there were hardly any signs of extravagance.
On the contrary, the austerity of the residence created an oppressive atmosphere.
The same could be said for the reception room.
A worn-out sofa and an old coffee cup.
Yet, the sheer presence of the man who owned the room made everything feel like a luxury item.
"Chairman Kim, you’re here. So this is the grandson you speak so highly of. I hear he graduated from university at a young age and has already become the head of a research institute?"
"It seems Hyunjae Group isn’t what it used to be. He’s just been appointed as the president of Taewoo Electronics."
The two chairmen seemed to be engaging in a subtle battle of wits.
"It’s an honor to meet you. My name is Kim Min-jae. I’ve been looking forward to this meeting."
I greeted him politely, trying to lighten the atmosphere.
"I hear you’re the one who created InoPhone. It’s impressively well-made—must be the foreign education."
"Thank you for your kind words. If not for pioneers like Chairman Jang and my grandfather paving the way, a product like InoPhone would not have been possible."
"You certainly have a way with words."
A wounded tiger.
That was my first impression of Chairman Jang.
He had once attempted to run for the presidency, only to be met with relentless political retaliation.
Even now, the repercussions continued.
His children were under constant scrutiny, frequently summoned by prosecutors for alleged violations of political funding laws.
But political retaliation didn’t just burden his family.
The government had also cut off Hyunjae Group’s financial lifelines.
No Korean bank was willing to lend them a single cent.
The only thing keeping the company afloat was a loan from CT Bank, a U.S.-based financial institution.
Ironically, however, this loan restriction turned out to be a blessing in disguise.
While other major corporations had expanded through leveraged borrowing and subsequently collapsed during the foreign exchange crisis, Hyunjae Group, due to the government-imposed borrowing restrictions, had significantly lower debt and was spared the worst of the damage.
"It’s truly reassuring to have a pillar of strength like you, Chairman Jang."
"So, you mean to say it’s convenient for you that I’m the one bearing the brunt of the storm? I wouldn’t mind stepping back and enjoying a gentle breeze for a change."
His words subtly hinted at the hardship he endured due to political persecution.
Grandpa clicked his tongue, fully aware of the humiliation and suffering Jang had gone through.
"Why did you even get involved in politics and bring this upon yourself?"
"Weren’t you the same?"
"But I backed out right before the final step. My grandson was so adamant about stopping me—he even threatened to leave home if I ran for president."
I had indeed discouraged my grandfather from entering politics.
But I never went as far as to threaten to leave home.
There was a bit of exaggeration in his words, but I wasn’t going to call him out on it—he was just trying to boast about his grandson in front of Chairman Jang.
"You should have stopped me too. I can’t wait for this administration to end. They’ve got their hands around my finances and refuse to let go—I can barely breathe."
"You’ve already built your company into a giant. What more money do you need? It’s us latecomers who rely on borrowed capital."
"Come on now, don’t talk like that. The moment a company stops growing, it’s over. To stay ahead of the competition, you need even more capital."
What an insatiable ambition.
Then again, that’s probably why they became business tycoons.
Still, I had no desire to curb Chairman Jang’s ambition.
In fact, I felt like fueling it.
After all, I had to take responsibility for my grandpa’s ambitions—but Jang’s ambitions had nothing to do with me.
"Korean banks are bound by government regulations, but foreign banks are still an option, aren’t they?"
"You think foreign banks are any different? No bank wants to go against its own government—or any government, for that matter."
"That’s quite different from what I experienced on Wall Street. Over there, people seemed eager to take on governments."
Wall Street—the financial powerhouse that had fought and won against governments.
They had already shaken up Europe, Germany, and France, and were now targeting Japan and Mexico.
"I’ve heard the stories about Wall Street. A pack of hyenas, that’s what they are. Wherever they go, they leave nothing but ruins. No matter how desperate I am for capital, I wouldn’t borrow money from those people."
"CT Bank is also part of Wall Street. Whether it’s money from a bank or money from a fund, it’s all the same."
I casually tossed out the bait.
If he wanted, I was willing to inject capital from SAVE Investment to facilitate a large-scale loan.
And that loan would become the very crisis that brought Hyunjae Group to its knees.
