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CH29 | Heir
🕑 Added 2025-03-18 03:35:01 +0000 UTCAs scheduled, the executive board meeting was convened, and for the first time, I was in attendance.
Since it was my first time, should I start with a polite greeting?
“Good day, everyone. My name is Min-jae Kim, and I am attending the executive board meeting for the first time as the Head of the Audit Division. I look forward to working with you.”
[Oh! Welcome, Director Kim!]
[It’s been a long time! You've grown so much.]
[I heard you graduated from university in the U.S. It’s a pleasure to see you here.]
The executives of Taewoo Group were heads of entire subsidiaries.
A mere division head like me was not someone they needed to bow to.
However, as the heir apparent to the group, they eagerly gathered around, extending their hands for a handshake.
So far, the atmosphere was pleasant.
But as soon as the agenda began, the mood shifted dramatically.
Leading the meeting in my grandfather’s stead was Vice Chairman Seong-gyun Bae, who also served as the President of Taewoo Motors.
"Let's begin with the audit report. It seems we have a disciplinary proposal regarding Executive Director Joon-soo Lee of the Changwon plant. Director Kim, please provide further details."
"Before discussing the disciplinary proposal, please refer to the materials that have been distributed."
The executives’ gazes sharpened.
Some looked at the documents with interest.
Others frowned. And the remaining few smiled at me approvingly.
I focused on those who had furrowed their brows.
The other executives were observing this matter as third parties, but these individuals were different.
They were the ones siding with Executive Director Lee, trying to protect him.
"The documents I have distributed outline the corruption allegations against Executive Director Joon-soo Lee in detail. He has committed various embezzlement offenses, including extorting partner companies, engaging in hiring fraud, and making excessive purchases of components to receive kickbacks. These actions have inflicted significant damage on Taewoo Motors."
"Ahem, if I may interject," one of the frowning executives spoke up.
He was the president of Taewoo Tourism, a relatively small subsidiary within the Taewoo Group.
Most likely, he was acting as the vanguard.
Taewoo Tourism had a minuscule revenue scale, and his position as president was far from secure.
It was obvious—he must have been promised some kind of reward for playing this role.
There was no need to investigate further; his intentions were crystal clear.
“Director Kim, these are merely allegations, are they not? Shouldn't we wait until the accusations are fully proven before discussing disciplinary action?”
"If you prefer, I can take these documents to the prosecution. Proving the allegations wouldn’t be difficult. Is that what you’d like?"
"Haha, Director Kim, you’re quite sharp. I merely asked a question, and now I’ve been thoroughly embarrassed."
So, they wanted to paint me as an insolent brat.
This executive board meeting wasn’t a courtroom.
More than evidence and witnesses, the judgment of the board members was what truly mattered.
These executives were seasoned veterans, each with at least 20 years of experience within Taewoo Group. Winning their favor was key to steering the meeting in my favor.
But if I were branded as a disrespectful upstart?
No matter how solid my evidence was, it would be dismissed as nothing more than the reckless outbursts of an arrogant young man.
“I spoke too harshly. I sincerely apologize. I have no intention of referring Executive Director Joon-soo Lee to the prosecution at this time. Instead, I wish to handle this matter while carefully listening to the insights of the esteemed executives who have led Taewoo Group thus far.”
"Director Kim, please continue with your agenda."
Vice Chairman Bae intervened to defuse the tension.
I resumed speaking, this time with even greater deference.
"Taewoo Group has been growing rapidly thanks to the dedication of its executives and employees. However, Executive Director Lee has been exploiting this collective effort for his own personal gain. His actions hinder the company’s growth and, if left unchecked, could lead to even bigger problems. I believe it is imperative to remove him before the situation escalates further."
"We've heard from Director Kim. Now, we must hear from Executive Director Joon-soo Lee. Bring him in."
The secretary, who had been waiting outside the door, quickly moved.
Soon, Joon-soo Lee entered the conference room with squared shoulders, exuding an air of confidence.
“I am Joon-soo Lee, Executive Director of the Taewoo Motors Changwon Plant. I vow to speak the truth without any falsehoods before this esteemed board.”
"Are the allegations reported by the audit team true?"
"While I do take responsibility for certain lapses in management, I have never engaged in embezzlement. Everything I did was merely in line with long-standing company practices."
Denying everything, are we?
It was expected. That’s why I had brought concrete proof.
"I am submitting evidence that proves Executive Director Lee engaged in hiring fraud. The union executive, Gam-deok Lee, acted as a financial intermediary, collecting money from applicants. This money was then funneled back to Executive Director Lee, as shown in these photographs."
I pulled out a stack of photos from my bag.
Starting with the Vice Chairman, I distributed identical copies to all executives in the room.
After staring at the pictures for a long moment, Vice Chairman Bae finally spoke.
"Hmm… this does appear to be problematic."
"This money was not received as part of a hiring fraud scheme. I had a personal relationship with the individual in question and merely lent him some money. These transactions were simply repayments of that personal loan."
Had he greased his tongue with oil?
In such a short time, he had come up with an excuse that almost sounded plausible.
But since it was a hasty fabrication, it was riddled with flaws.
"So, are you admitting that you hired someone based on personal connections? Do you believe it is appropriate to employ individuals with whom you have financial dealings?"
"I always maintain a strict separation between business and personal matters. However, if my actions were ethically questionable, I sincerely apologize."
"If this was merely a personal loan, why was the money received by Gam-deok Lee, a union executive?"
"He was just helping me out a little."
"Vice Chairman and esteemed executives, do you find Executive Director Lee’s explanation reasonable? Hiring individuals with whom he has financial ties and using union members for personal errands—this is clearly against ethical standards."
Some executives nodded in agreement.
Meanwhile, those allied with Executive Director Lee scowled once more.
The rest of the executives watched the proceedings with amusement, intrigued by the unfolding power struggle.
"The hiring fraud allegations are suspicious, but we cannot consider them conclusive just yet. The audit team should conduct a more thorough investigation and present its findings. If you have any additional evidence, please submit it now."
"I have evidence showing that perfectly functional products were falsely recorded as defective and then sold to a service center. I am submitting the Changwon Plant’s financial records along with photographic proof."
This information was uncovered by a particularly meticulous tax investigator.
He was a numbers expert rather than a wordsmith, and after analyzing tens of thousands of pages of the Changwon Plant’s inventory records, he discovered the irregularities.
Additionally, Captain Kang had successfully obtained photographic evidence.
One photo showed the service center owner and a union executive entering a high-end Japanese restaurant.
Another captured the moment a service center employee placed a box of apples into the trunk of the union executive’s car.
"It's just an apple box. There's no confirmation of what’s inside," Lee countered with yet another absurd excuse.
The real problem? Some executives were actually backing him up.
[Well, that’s true. Gifting apples isn't exactly a crime.]
[We can’t really accuse him just because he has personal connections with the service center owner.]
How frustrating it must be for them.
They were making foolish arguments just to support his ridiculous excuses.
"If you check the records, you'll see that the number of defective products recorded and the number of items scrapped at the junkyard do not match."
"I acknowledge that the bookkeeping was sloppy. As soon as I return to the plant, I will ensure the inspection team works overtime to correct the records properly."
So, that was his escape plan?
There was no other choice—I had to present even more evidence.
This time, I submitted proof of embezzlement related to subcontracting contracts.
As expected, Executive Director Lee desperately scrambled for yet another absurd excuse, trying to wriggle his way out like a rat.
But this was already his fourth excuse.
Once might be considered coincidence, but four times? That was no accident—it was intentional.
Vice Chairman Bae and several other executives were now looking at him with growing suspicion.
"Hmm, this is more than just a couple of suspicious circumstances," the Vice Chairman remarked.
"This seems like a case that warrants a full-scale audit, involving all subsidiary audit teams," added the CEO of Taewoo Shipbuilding.
With these two speaking up, the atmosphere in the conference room shifted dramatically.
Both ranked among the top five in Taewoo Group’s hierarchy, and the weight behind their words was immense.
Faced with this turning tide, Executive Director Lee finally dropped his pretense.
Straightening his posture, he met my gaze head-on and made a bombshell declaration.
"If our family learns that you are treating me this way, I won’t be able to stop what happens next. Everyone here knows just how much of our family's money has been poured into the Changwon plant."
"……."
The room fell silent.
However, the Vice Chairman and several executives shot furious glares at Lee.
At that moment, the person labeled as "disrespectful" was no longer me—it was him.
Despite his age, Lee was still younger than most of the executive board, and with his latest remark, he had trampled all over their pride.
He must have known this.
Yet, he remained so bold because of the financial backing his family had secured from Myeong-dong.
"Executive Director Lee, you speak as if the Taewoo Automotive Changwon Plant belongs to your family," I challenged.
"That’s not what I meant, but it wouldn’t be entirely wrong to say so. And as a representative of my family, I have a duty to oversee and manage the plant."
BANG!
I slammed my hand onto the table.
I had planned to put on a show, but his condescending gaze genuinely enraged me.
"Did you just say you’re ‘overseeing’ Taewoo Automotive? By what right? Borrowing money from Myeong-dong doesn’t mean Taewoo Automotive belongs to them. Taewoo Group—including Taewoo Automotive—was built through the hard work of our chairman, executives, and employees!"
"Without money, no amount of effort would have made any difference," he sneered.
"Executive Director Lee, you’re out of line," the Vice Chairman’s voice cracked slightly—his frustration seeping through.
Even he, who had maintained his composure throughout, was visibly angered by Lee’s words.
"Do you think I want to waste away in this Changwon backwater? I’m only here to protect my family’s investment!" Lee snapped.
"So, you’re saying that if the Changwon Plant repays its debt, you’ll leave?" I asked, my voice deceptively calm.
"If that’s what you want, sure. But, Director Kim, you must not understand the numbers. The Changwon Plant owes a staggering 400 billion won. How do you plan to repay that?"
Ah, I had been waiting for this moment.
Without hesitation, I pulled out my phone and dialed Assistant Director Yoon.
"Bring him in," I instructed.
Everyone in the room watched in stunned silence as I spoke.
Then, as the doors to the conference room opened, their expressions shifted again.
"Good afternoon. I am Han Dong-gu, CEO of CT Bank Korea."
"The CEO of CT Bank? What brings you here?"
"I invited him," I stated firmly.
CT Bank was one of the top five banks in the United States.
It had entered the Korean market in 1967 and maintained business relations with numerous corporations.
Naturally, every executive in the room recognized Han Dong-gu’s face.
"CT Bank are prepared to extend a 400 billion won loan to cover the Changwon Plant’s debt," I announced.
