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CH30 | Heir
🕑 Added 2025-03-18 03:40:01 +0000 UTCSecuring a 400 billion won loan from a mainstream bank was no easy feat.
Especially for Taewoo Group, which had a high debt ratio—essentially barring it from further loans. That’s why they had been relying on private loans or borrowing from foreign sources to keep their cash flow going.
But now, CT Bank had approved a massive 400 billion won loan.
Of course, this wasn’t just luck—I had made my move behind the scenes.
I designated CT Bank as the primary banking partner for SAVE Investment.
With $36 billion in assets under management, SAVE Investment was a major client, even for one of the top five U.S. banks.
And to top it off, the 400 billion won loan came from my own pocket.
CT Bank was merely lending its name to the transaction, and in return, they secured SAVE Investment as a key client. This allowed them to act as if they were doing Taewoo Group a favor by approving the loan.
I hadn't wanted to spend my money this way.
I had been trying to conserve funds until the upcoming financial crisis, but after seeing Myeong-dong’s tactics, I couldn't sit back any longer.
Besides, 400 billion won wasn’t even a significant amount for me, so I spent it without hesitation.
The one caught off guard now was Executive Director Lee.
His face turned red with frustration, and he blurted out something he should never have said.
"Are you really willing to go against Myeong-dong while playing financial games in Korea? If Myeong-dong moves against you, wiping out a single bank is nothing!"
"If it were a regular Korean bank, maybe. But CT Bank is not a Korean bank. If Myeong-dong tries to use its influence against CT Bank, it will escalate into an international dispute. Are you ready to go up against the United States?"
CT Bank’s CEO, Han Dong-gu, was as bold as ever.
Having completed his graduate studies in the U.S. and worked at CT Bank’s headquarters, he knew firsthand just how vast the American financial market was.
Myeong-dong’s loan shark network?
Sure, it had power in Korea, but compared to Wall Street, it was insignificant.
And to be blunt, SAVE Investment alone had enough financial muscle to shake up Myeong-dong’s loan market.
"You really want to go head-to-head with Myeong-dong? Changwon Plant isn't the only one that borrowed money!" Lee shouted.
"You said your role was to ‘oversee’ Changwon Plant, right? If its debt is fully repaid, then your job is done. As promised, leave Changwon Plant."
"Just wait! You’ll regret this!"
Lee stormed out of the room, slamming the door behind him.
It was no different from running away.
He never expected that I would immediately pay off a 400 billion won debt.
With Lee gone, the meeting resumed.
The Vice Chairman invited Han Dong-gu to take a seat and immediately began questioning him.
"We will continue the executive meeting. Mr. Han, I have a question. Has the 400 billion won loan truly been approved?"
"The approval came directly from headquarters. The loan offers a lower interest rate than local banks and a five-year term."
"That’s an incredibly generous offer. But previously, all our loan requests were denied. Why approve a 400 billion won loan all of a sudden?"
Taewoo Group had inquired about loans at every major bank.
Grandfather’s vision of global expansion required immense amounts of capital.
However, due to Taewoo Group’s high debt ratio, both local and international banks had hesitated to extend additional loans.
So, it was understandable that the executives found this sudden loan approval suspicious.
Han Dong-gu, following the script we had prepared, calmly explained.
"Executive Director Kim Min-jae’s connections played a key role. During his time studying in the U.S., Mr. Kim built strong relationships with many bankers on Wall Street. In essence, this loan wasn’t given to Taewoo Group—it was given to Mr. Kim himself."
"Hah, as expected—blood ties always show their worth."
The Vice Chairman’s true thoughts slipped out.
Realizing his mistake, he quickly cleared his throat to cover it up.
Meanwhile, several executives who had sided with Executive Director Lee began voicing their concerns.
“Refinancing Changwon Plant’s debt at a lower interest rate is beneficial, but this could strain our relationship with Myeong-dong. Taewoo Group has had strong ties with Myeong-dong for a long time, and many of our subsidiaries have taken loans from them. If they suddenly demand full repayment, we’ll be in serious trouble.”
“CT Bank isn’t going to cover all of our existing debt from Myeong-dong, are they?”
“Wouldn’t it be better to use the CT Bank loan for expanding our Vietnam plant instead?”
At that last suggestion, Han Dong-gu visibly tensed.
“This loan is strictly for repaying Changwon Plant’s debt. If it is diverted elsewhere, we risk losing the loan itself and the favorable interest rate we’ve been offered.”
“Hmm… While CT Bank’s offer is generous, we cannot ignore our relationship with Myeong-dong.”
Taewoo Group was a company where all power resided in the Chairman.
Even the Vice Chairman couldn’t freely make or take responsibility for such a decision.
That meant I had to take responsibility.
“I’ll handle the situation with Myeong-dong.”
“Do you have any connections there, Mr. Kim?”
“Connections can always be made. But personally, I don’t believe Myeong-dong was directly involved in what Executive Director Lee did. He likely just used their name to his advantage.”
“That’s not something I can decide. We should discuss it once the Chairman returns. Let’s adjourn the meeting for today.”
With that, the Vice Chairman made his call.
He had determined that continuing the meeting in such a tense atmosphere was pointless.
The executives, keeping their thoughts to themselves, left the conference room.
Now, only the empty room remained—with just me and the Chief Secretary, Mr. Kim
As I approached, Mr. Kim firmly shook his head, lips pressed together.
He clearly wanted to stop me from going to Myeong-dong.
“It’s too dangerous.”
“I’ve heard that anyone running a business in Korea eventually has to deal with Myeong-dong. If that’s the case, wouldn’t it be better for me to introduce myself now?”
“This is too soon. It would be wiser to arrange a meeting once the Chairman returns.”
“If we want to contain the damage before Executive Director Lee causes more trouble, we can’t wait. If you don’t set up the meeting, I’ll go alone.”
I locked eyes with him, making sure my resolve was clear.
After a long sigh, he finally gave in.
“…Alright. I’ll make the call now.”
“Great. It’s been a while since we went on a drive together, hasn’t it?”
The meeting was arranged remarkably quickly.
As if he had been waiting for me, Executive Director Lee’s cousin—a notorious loan shark—immediately responded, inviting me to his office.
I rode in the passenger seat while Mr. Kim drove.
During the ride, he briefed me on the man we were about to meet.
“There are four major players in Myeong-dong’s loan sharking business:
- Cash King
- Grandma Baek
- Gwanghwamun Bear
- Chairman Kang
Executive Director Lee’s cousin is Lee Sun-il, better known as ‘Gwanghwamun Bear.’”
“I did some research myself. He owns a significant amount of real estate, doesn’t he?”
"What you’ve heard is only the tip of the iceberg. His real influence is far greater. In fact, it's said that you can't even step into Seoul without crossing land he owns. And when the stock market was first established, there was a rumor that he controlled 30% of Korea’s total market capital.”
The legend of Gwanghwamun Bear began in the 1970s.
30% of the Korean stock market?
Back then, the total market capitalization was only 85 billion won.
If he truly held 30%, that would mean he had around 25.5 billion won invested.
Of course, money had different value in those days, but even so, his total assets couldn’t possibly compare to the financial power of SAVE Investment Company.
“Are you trying to intimidate me? Have you forgotten whose grandson I am? I grew up watching my grandfather every single day. No matter how powerful Gwanghwamun Bear may be, can he possibly compare to my grandfather?”
“...That’s true. But still, he’s not someone to underestimate. If we’re talking purely about liquid assets, he might even have more than Taewoo Group.”
As we continued our conversation, we arrived at the meeting location.
True to his nickname, Gwanghwamun Bear resided in a traditional hanok mansion near Gwanghwamun.
I followed Mr. Kim inside.
At the entrance, dozens of bodyguards stood watch.
A man with a long scar across his face stepped forward, blocking our path.
“Mr. Kim, you’ll have to wait here. The Chairman wishes to speak privately with Director Kim Min-jae.”
“But wouldn’t it be better if I personally introduced him?”
“It’s fine. I’ll go alone. Take a break.”
“B-but, sir—”
“It’s fine.”
Without hesitation, I stepped forward, leaving Mr. Kim behind.
Inside the hanok was yet another gate.
As it swung open, a massive garden was revealed, with a pavilion standing proudly at its center.
Waiting inside was the master of the house.
A man with a long smoking pipe, his burly frame at least twice the size of my grandfather's, sat there like a seasoned, watchful beast.
His presence alone felt overwhelming.
"Hoho... So Kim Chairman's grandson has come to see me. Time really flies. Nice to meet you. I'm the one they call Gwanghwamun Bear. But feel free to just call me this old man.”
“It’s an honor to meet you. I’m Kim Min-jae, grandson of Chairman Kim Tae-jung and the Head of the Audit Team at Taewoo Group.”
“I’ve heard plenty about you. Your grandfather never stops bragging. Said you went to one of the best universities in the U.S., didn’t he? Must make him proud.”
The conversation began with pleasantries.
He gestured for me to take a seat across from him, and soon, I was handed a cup of aromatic green tea.
"I already have a rough idea of why you’re here. I heard you’ve been having issues with my youngest cousin?”
“Your cousin has been playing some serious games. Of course, I trust that this has nothing to do with you, sir.”
“Tsk tsk, that fool. I sent him to the factory to keep him out of trouble, and now he’s causing a mess?”
Could this man be reasonable?
Judging from the conversation so far, he seemed to have a practical mindset.
But this was Gwanghwamun Bear—a man who rose to power through loan sharking.
A wolf in a bear’s skin.
If I showed even a hint of weakness, he would tear me apart in an instant.
“Executive Lee claimed he was sent to monitor Taewoo Motors at the Changwon plant. It’s time you take him back.”
“Monitor? What a joke. That idiot doesn’t have the brains for it. I only gave him a position so he could survive somehow. But I have no interest in taking him back. Whether you kill him or let him live is your decision.”
As expected, this old man wasn’t easy to deal with.
Telling me to do as I please was no different from saying I shouldn’t touch him.
“Then allow me to make a different proposal. How about we join hands?”
“Ha! And what exactly would I gain from holding hands with a young man like you? Shouldn’t you be holding a pretty lady’s hand instead?”
“If you join forces with me, you’ll own Myeong-dong within five years.”
“Hahahaha! That’s the funniest thing I’ve heard in ages. Even the chairman of Hyundai Group and the chairman of Samsung Group wouldn’t dare make such a promise. … Do you really think Myeong-dong is that easy to conquer?”
TL/n -
Hyunjae = Hyundai
Samjin = Samsung
