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CH22 | Heir
🕑 Added 2025-03-16 03:30:01 +0000 UTCThe Kobe Earthquake
A magnitude 7.3 earthquake struck the southern region of Hyogo Prefecture, causing extensive damage that spread as far as Osaka and Tokyo.
In South Korea, news agencies immediately dispatched correspondents to Japan.
Breaking news reports flooded the airwaves, providing real-time updates on the disaster.
Han Jung-hoon and I sat frozen in place in front of the TV, our beers now lukewarm and forgotten.
"C-CEO… did you anticipate this disaster when you created the derivatives?"
"Do I look like a god? How could I possibly predict a natural disaster? I simply expected that Japan’s economy still had bubbles waiting to burst."
That was a lie.
I had known in advance that the Kobe Earthquake would happen.
The derivatives I had crafted were specifically designed with this disaster in mind.
Even knowing about the earthquake, I had no way of preventing it.
If people wanted to call me ruthless for making money off a catastrophe, so be it.
I was prepared to sell my soul to the devil if it meant protecting my family and my company.
"I don’t know whether to congratulate you or mourn, but… Japanese stock prices have started to plummet due to the earthquake’s impact."
"Call Quantum Fund. Tell them I’ll be waiting in Korea."
"Are you seriously summoning Quantum Fund’s CEO to Korea? George is notorious for being cunning—do you really think he’ll come all the way here?"
"Oh, he’ll come. In fact, he might have already booked his flight before we even contacted him. If there’s anyone who can smell money from miles away, it’s George."
Han Jung-hoon immediately dialed an international call.
A few minutes later, he turned back to me, his face frozen in shock.
"Unbelievable… Quantum Fund’s executives—and George himself—are already on their way to Korea."
"Once they arrive, things will get incredibly busy. Get some rest while you still can."
Han Jung-hoon clearly had a million questions, but he held them back and lay down to get some sleep.
I wanted to rest too, but I didn’t have the luxury of time.
Before officially taking over as Head of the Audit Department, I had one last meeting to arrange—
***
The area in front of Taewoo Group’s headquarters was lined with restaurants and bars.
Among them, there was one famous old eatery that many Taewoo Group employees frequented.
The Chief Secretary was also a regular there.
"Young Master, you’re here? I must say, I was surprised when you asked to meet here. How did you even know about this place? Only a few insiders at Taewoo Group know about this hidden gem."
"Starting Next Week, I'm Officially Reporting to Headquarters."
"Since I'll be starting at headquarters next week, of course, I had to do some advance research on the best restaurants."
"Hahaha! That’s the spirit. In the end, we all work to eat well, so knowing where to find good food is just as important!"
This was the first time I was drinking alone with the Chief Secretary.
We ordered a hot pollack stew, eating silently until we both finished a full bowl of rice.
"As expected from a famous spot, the broth is deep and rich."
"Doesn’t it feel like it clears your insides? That’s exactly why I love this place."
"Shall we have a serious talk over a drink? Excuse me, ma’am! One bottle of soju, please."
"I’m busy as hell! You get it yourself! Damn brat, making others work for you!"
The restaurant's elderly owner snapped at me.
The Chief Secretary fidgeted uncomfortably, about to stand up, but I moved first.
I grabbed a bottle of soju and two glasses before returning to my seat.
"Let me pour you a drink."
"Hahaha, the day has finally come where I share a drink with you. I must have lived quite a long life."
"You’re still strong. You’ve got at least another twenty years in you."
"If that’s what you want, Young Master, then not just twenty—I could work for thirty more years."
To me, the Chief Secretary was like a father figure.
With my grandfather constantly traveling abroad, it was he who took care of me.
And just as I saw him as family, he had treated me like his own son.
Before we knew it, we had finished the first bottle.
I stood up to grab another, pouring him a fresh drink as I asked—
"What do you think about me joining the Audit Team?"
"I understand exactly what you’re trying to do, Young Master. I, too, know that Taewoo Group is infested with parasites."
"Then why was my grandfather so against it?"
"Because it’s not an easy fight."
The Chief Secretary pulled out an envelope.
It seemed to be the list I had requested.
I had asked him to gather information on the Audit Team before I officially started next week.
However, inside the envelope, there wasn’t just the list of Audit Team members—there were several other documents as well.
"There’s quite a lot of information here. The Audit Team’s staff didn’t suddenly increase, did it?"
"This includes the executive roster for the Changwon factory. That’s where you’re planning to strike first, isn’t it?"
The Chief Secretary had read my mind perfectly.
Not that it was a difficult guess—
After all, the Changwon Parts Factory and the Changwon Plant were closely interlinked subsidiaries.
"This report is incredibly detailed… Are you really okay with giving me such high-level information?"
"As the Future Head of the Audit Team, This Is Information You Must Know."
"But there’s more data on Executive Director Lee Jun-su than on the factory director himself."
"It’s an open secret that Executive Director Lee is the real power in the Changwon factory."
The factory director was one of the founding executives of Taewoo Group.
A man who had stood by my grandfather’s side for decades—just a figurehead?
Could Executive Director Lee really be that capable?
The answer lay in the documents the Chief Secretary had handed me.
"So, Lee Jun-su is the cousin of a major player in the Myeongdong loan market?"
"In Korea, no business executive can avoid dealing with Myeongdong at some point."
"I’ve heard rumors. They say there are four big players controlling the Myeongdong loan market."
"And Executive Director Lee is related to one of them."
The Myeongdong private loan market was not something to underestimate.
A massive underground economy where hundreds of trillions of won circulated in cash.
To be one of the ‘Big Four’ in Myeongdong, one needed at least trillions in assets.
"Did my grandfather ever do business with Myeongdong? Otherwise, there’s no way someone like Lee Jun-su would have made it into Taewoo Group."
"…Yes. At one point, he used their funds for short-term financing."
"That’s not the whole story, is it?"
"They also hold a portion of Taewoo Group’s shares."
So a loan shark had stakes in Taewoo Group?
And he had leveraged those shares to plant his cousin in the company?
The bigger picture was becoming clear.
Now, I understood why my grandfather warned me that this wouldn’t be an easy fight.
But no matter how big the private loan market was, it was still just an underground economy.
"Does it really matter who’s backing him? As long as he benefits Taewoo Group, I wouldn’t care if he were the cousin of a criminal, not just a loan shark."
"And if he doesn’t benefit the company… Are you planning to remove him?"
"Of course. I’ll cut him out without hesitation."
"Myeongdong won’t sit still if you do."
"We’ll see about that. But for now, Taewoo Group must be in turmoil from the Kobe earthquake."
I changed the subject.
There was no point circling the same conversation any further.
"Taewoo Group shouldn’t suffer too much of a direct impact. However, if the Japanese stock market declines, it will inevitably pull down the Korean market as well. We’ll need to take decisive action."
"At least that’s some relief. Ah! I’ve kept you here too long when you’re such a busy man."
"You also have a lot to prepare before joining the Audit Team next week. If you ever need any help, don’t hesitate to reach out."
"And if you ever need a drinking buddy, call me anytime."
"If you say so, I’d be more than grateful."
Chief Secretary Kim returned to the company.
Having downed two bottles of soju, one might expect him to head home instead.
But the fact that he was returning to the office meant the company was indeed in a state of emergency.
Even in such circumstances, he had made time for me.
And the information he provided was as valuable as having a thousand troops at my command.
I handed everything over to Captain Kang, who would use it to craft a detailed operational plan with his team.
"I should get some rest before George arrives."
***
The Next Day
George arrived in Korea even faster than I had anticipated.
And without wasting time, he headed straight to the hotel to meet me.
"It’s been a while. You look even better than before."
"Looks like it’s you, not me, who’s doing better, Kim. Don't keep all the good stuff to yourself—share a little."
There was a hidden edge to his words.
He must have caught wind of the Japanese-related derivatives that SAVE Investment had structured.
Knowing that, it was no surprise he had jumped on a plane to Korea immediately.
"I didn’t touch what George planned to eat."
"You mean the yen?"
"When it comes to currencies, isn't Quantum Fund the expert? I have a code of honor—I wouldn't eat first."
"Hahaha! That’s why I like you, Kim. You’re nothing like those idiots on Wall Street."
George wasn’t just flattering me.
Ever since his successful short attack on the British pound, he had relentlessly targeted European currencies.
He had been unpredictable, and many Wall Street firms that tried to follow his moves had suffered massive losses.
But SAVE Investment was different.
We had anticipated his volatility, adjusted accordingly, and, while our profits weren’t as high as Quantum Fund’s, we still made a substantial return.
"A true alliance can’t be built on one side simply relying on the other, don’t you agree?"
"Exactly. If you want to survive on the battlefield of Wall Street, you have to think and move for yourself."
"Then, do you plan to attack the yen alone?"
"If the prey is small, I eat alone. If it's big, I share. But this time, the prey looks a little too small for my appetite."
George had his sights set beyond the yen.
He needed something bigger to truly satisfy his hunger.
And I had just the thing to put on the table.
"This is the derivatives contract SAVE Investment has with Japanese corporations and banks."
"Why are you showing me this? You’re not just bragging, are you? Or… could it be?"
"If I eat this alone, I might burst. So, I plan to share it—with Wall Street, including Quantum Fund."
SAVE Investment had poured $15 billion into derivatives.
Now, I was laying half of that—a $7.5 billion contract—on the table.
"You’re not just giving this away. What do you want?"
"If SAVE eats alone, we might make at most twice our principal. But if we eat with Wall Street, we can make at least three times, maybe even five."
"So, you're saying we should all share in Japan's desperate struggle? Something like that could be settled just by throwing $1 billion at the politicians."
In the United States, lobbying was practically an industry.
The lobbying industry alone saw billions of dollars exchanged every year.
In other words, with $1 billion in lobbying funds, I could cover almost every necessary connection.
If $1 billion was enough, why was I putting $7.5 billion into play?
And since this $7.5 billion derivatives contract was guaranteed to generate at least double in returns…
That meant we were talking about $15 billion—maybe even $30 billion.
So just selling off the contract wasn’t enough of a reason.
"Of course, there’s one condition. I need to secure a minimum profit—so I’ll sell this contract for $12 billion."
"You're settling for a 70% profit margin? There must be more to it."
"I want shares in a company of my choosing."
There are companies whose stakes cannot be bought with money alone.
To acquire such shares, I was using a $7.5 billion derivatives contract as bait.
