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CH11 | Heir
🕑 Added 2025-03-12 03:36:00 +0000 UTCThe year 1992 had dawned.
During this time, I had been living in the U.S., focusing on my studies, while the management of SAVE Investment was entirely entrusted to Vice President Jeffrey and Team Leader Han.
The company had reached a stable phase.
Even with just a few hints from me, SAVE had grown into an investment firm recognized on Wall Street for its remarkable returns.
Jeffrey’s independent investments had turned $4 billion into $4.8 billion in just 10 months, achieving an impressive 20% return.
Of course, that was nothing compared to my own investments.
I wasn’t aiming for 20%—I was accustomed to achieving at least 1,000% returns.
But opportunities that big weren’t easy to come by, so I was content with steady positive growth.
Now that the company had firmly taken root, I finally had some free time to visit Korea.
"Young Master, welcome back! The Chairman is waiting for you at the estate."
"Chief Secretary, you didn’t have to come in person. I appreciate it, but you could have sent someone else."
"It’s been a year and a half since you last returned to Korea. Of course, I had to come personally."
Had it really been that long?
Investing in the Gulf War, recruiting top talents like Jeffrey, and launching the pound short-selling operation—
After handling several major deals, time had flown by, and now it was already 1992.
"You haven’t changed at all, Chief Secretary. If anything, you look even younger."
"Young Master, you’ve grown into an adult. You’re taller, and your features have matured."
"Still a minor, though. Let’s continue this conversation in the car."
"Understood. I’ll take you to the estate."
I got into the car, with the Chief Secretary personally driving, and we headed toward the family estate.
Though only a year and a half had passed, the view of Korea outside the window had changed significantly.
Of course, it was nothing compared to the Seoul I had lived in during my past life, but now Seoul could hold its own against any city in the world.
I was still absorbed in admiring the city when, before I knew it, we had arrived at the estate.
I grabbed the gifts I had brought for Grandfather from the trunk and stepped inside.
Grandfather was already waiting at the entrance, ready to greet me.
“My little pup is back! Didn’t American food suit your taste? You look like you’ve lost so much weight.”
“It suited me too well—that was the problem. I actually gained 8kg.”
“I don’t see an ounce of fat on you—what do you mean you gained weight? Come inside quickly. I had them make your favorite galbijjim in a huge batch.”
Grandpa grabbed my hand and pulled me toward the dining table.
He was waiting eagerly for me to take my first bite, but instead of picking up my spoon, I pulled a piece of paper from my pocket.
“What’s this? Let’s eat first.”
“It’s important, so look at it first. That way, I can eat in peace.”
Grandpa carefully unfolded the paper.
It was filled with English, but being a man who always spoke of globalization, he immediately understood its contents.
“You got in! And not just anywhere—Harvard University!”
“I wanted to get in last year, but there was more to prepare than I expected. Sorry for being late.”
“Late? What do you mean late? Kids your age are still in high school, and you’re already going to university. That’s early!”
“And thank you, Grandfather. I was able to get in thanks to you.”
“What did I even do? It’s all because of your own hard work.”
Grandfather had secured seven recommendation letters for me.
He had pulled every string in his vast network to obtain recommendations from people who could help with my Harvard admission.
To be honest, I had already received enough recommendation letters on my own, but I was deeply touched by Grandfather’s efforts.
“Thank you for waiting for me.”
“You got into Harvard’s Economics Department! Of course, I’d wait as long as it took!”
Grandfather’s voice was filled with strength.
Though he was nearing 80, he had always taken great care of his health, so he didn’t look like an old man at all.
“I’ll eat now.”
“Yes, take your time and eat plenty. Here! Warm up the soup! My Harvard-going grandson’s soup has gone cold.”
“Oh dear! Of course, we should warm it up for the young master. It’s been such a long time since I’ve seen the Chairman smile like this.”
Grandfather couldn’t stop smiling.
He even deboned the fish for me, carefully placing the meat onto my spoon, and personally poured me a glass of water.
This—this was the reason I studied.
I had studied like a madman to enter society as soon as possible, but in a way, I also wanted to bring joy to Grandfather.
After finishing my delicious meal,
I was about to have a private conversation with Grandfather when a visitor arrived at the estate.
“Chairman, we have a guest. They’re from the New Democratic Party.”
“Tsk, I told them not to come to my house like this… Well, bring them in.”
Politicians never liked to publicly disclose private meetings with business leaders.
Getting caught could lead to scandals, and it was not beneficial for their votes.
Yet, they came unannounced in broad daylight?
Curious about what was going on, I stood beside Grandfather, waiting to meet the guest.
“Chairman Kim, it’s a pleasure to see you. It was so difficult to arrange a meeting that I had no choice but to visit you in person.”
“I don’t see what’s so good about meeting an old man like me that you had to go through this trouble.”
“Is this young man beside you the famous grandson of yours? I’ve heard he takes after you—sharp and intelligent.”
“Hmm. He just got accepted to Harvard University.”
“Oh my! That’s truly wonderful news!”
The visitor was Kang Jun-gi, a three-term assemblyman from the New Democratic Party.
He was one of the most influential figures in the party, a man who rarely had to ask anyone for favors.
And yet, here he was, acting so deferential toward Grandfather?
I thought deeply about the reason and suddenly, a memory from my past life resurfaced.
In my previous life, the New Democratic Party had once tried to nominate Grandfather as their presidential candidate, and now, there were less than ten months left until the 14th Presidential Election.
“Min-jae, go to your room for now. I need to speak with our guests.”
“I’m feeling jet-lagged anyway. I’ll rest in my room.”
I obediently went to my room.
Lying on my bed, I racked my brain, running through every possible scenario in my mind.
But no matter how many simulations I ran, I couldn’t find a single outcome where Grandfather entering politics ended well.
Just as my brain was about to overheat from overthinking,
I heard a knock, and Grandfather personally opened my door.
“The guests already left?”
“There wasn’t much to talk about. They’re quite troublesome people.”
“Are they trying to nominate you for this presidential election?”
“…How did you know that, Min-jae?”
“Even in America, I keep up with Korean news. The New Democratic Party doesn’t have a strong candidate, so they’re trying to push someone with high recognition—like you, Grandfather.”
Grandfather’s expression shifted.
He was no longer the affectionate grandfather looking at his beloved grandson—
He had become Kim Tae-jung, the Chairman of Tae-woo Group.
“Do you have any idea how hard the military government made things for Tae-woo Group? They bled us dry just for existing.”
“So, is that why you’re considering becoming president?”
“I haven’t thought that far yet.”
The human mind is truly fickle.
Objectively speaking, Grandfather knows well that his chances of becoming president aren’t very high.
But with New Democratic Party lawmakers and supporters fanning the flames, it was only natural for him to feel tempted.
“I’m not eligible to inherit Tae-woo Group yet.”
“…What do you mean?”
“If you become president, you’ll have no choice but to transfer Tae-woo Group to me. But if you do, what about the massive inheritance taxes? And once you’re a presidential candidate, the media will scrutinize everything. Do you really think a business of this size will come out of that with no dirt at all?”
I was doing everything I could to extinguish the fire the New Democratic Party had ignited.
Grandfather nodded, seemingly agreeing with me.
“So, Min-jae, you think I’m not fit to be president?”
“Of course not. If you could elevate Tae-woo Group to the third-largest conglomerate, you could certainly make this country a better place. But the presidency only lasts five years.”
“You’re right. It’s not worth giving up Tae-woo Group just for five years in office.”
“And don’t forget the massive taxes. Even if you used just half that money to support a future presidential candidate, wouldn’t you gain far more?”
Grandfather was a businessman.
To a businessman, the most important thing was maximizing profit with minimal investment.
The moment I targeted that mindset, his eyes changed once more.
The lingering attachment he had toward the presidency completely disappeared.
“Even if I became president, I’d just get criticized. Like you said, it’s far more profitable to support a candidate instead. So, who do you think will win this election?”
“Either YS or DJ.”
“Chairman Jang of Hyundai Group is also running, and he’s gained quite a bit of support. Why did you leave him out?”
“Because voters aren’t stupid.”
Grandfather gestured for me to explain further.
“It’s nearly impossible to win as a third-party candidate in our country. At most, they can form a minor parliamentary negotiating group. But in the end, the winner will come from one of the two major parties.”
“You have a sharp perspective, Min-jae. So between YS and DJ, who has the higher chance of winning?”
“YS. But we should also invest in DJ. The presidential election will come again in five years.”
I could say this with confidence because I knew history.
I already knew that after YS, DJ would be the next president.
“So, you’re saying we should support both YS and DJ?”
“Or support neither.”
“Min-jae, you’ve spent too much time in America. In Korea, even the largest conglomerates can collapse with just one word from the president.”
Even if we supported YS, Tae-woo Group would still struggle when the foreign exchange crisis hit.
I couldn’t bring myself to say that, so I simply remained silent.
“……”
“Min-jae, once you start running a company yourself, you’ll understand what I mean. There are unfair and unreasonable things in this world that you simply have to accept.”
“I’ll make sure Tae-woo Group becomes strong enough to withstand any storm.”
“Alright. I’ll take care of the dirty work. Once you inherit Tae-woo Group, you can do things your way.”
“Grandfather, that’s actually what I wanted to talk about. I want to start laying the groundwork now.”
The real reason I returned to Korea was to say this.
Boasting about my Harvard acceptance was just a small part of it.
“Laying the groundwork… Alright, what exactly do you want to do?”
“I want to establish and support a Tae-woo Group scholarship program.”
“The company is already supporting many scholars at the corporate level.”
“I know that. But if we want Tae-woo Group to remain unshaken by any storm, we need even more scholarship recipients and loyal supporters.”
“I understand your point, but raising scholars costs a lot more than you think.”
In the end, money was the issue.
Grandfather wasn’t the type to spend a fortune on scholars who wouldn’t provide immediate returns.
“Just establish the Tae-woo Group Scholarship Foundation. I’ll handle fundraising and operations myself. Running a foundation will be great experience for managing a company in the future, don’t you think?”
“Hah… Alright, you’re finally at the age where you understand the value of money. Go ahead and see for yourself how difficult it is to run an organization.”
TL/n -
Chung Ju-yung, the founder and former chairman of Hyundai Group, ran for president of South Korea in the 1992 presidential election.
Here’s a brief overview of his presidential bid:
Chung Ju-yung’s Presidential Run (1992)
Formation of a New Party:
In 1992, Chung left Hyundai and founded the United People's Party to run for president.
Business Tycoon to Politician:
As one of South Korea’s most successful businessmen, he campaigned on a pro-business, economic growth-focused platform.
Major Competitors:
The election was primarily a two-way battle between Kim Young-sam (YS) of the Democratic Liberal Party and Kim Dae-jung (DJ) of the Democratic Party.
Election Result:
Chung Ju-yung finished third with 16.3% of the votes, while Kim Young-sam won and became the 14th President of South Korea.
Aftermath & Impact =>
After his defeat, Chung faced political retaliation, including a government investigation into Hyundai’s finances.
He eventually stepped away from politics and focused on his legacy in business and social contributions, such as his efforts to improve inter-Korean relations.
His failed presidential bid remains one of the most notable attempts by a business leader to enter Korean politics.
