Chapter 42: Even Starting Capital Is a Debt

After finishing my introduction to the employees, I moved to the executive conference room to formally introduce myself to the senior management of Korea Investment.

Chairman Park Yeongil swept his gaze across the tense executives seated around the table and spoke in a stern, unyielding tone.

“Director Cha is the man who will follow in my footsteps and lead Korea Investment. If any of you decide to disregard him because of his youth or lack of experience, then you all understand how your fate will change.”

“Of course, we understand!”

“Director Cha, introduce yourself to the executives.”

“...Yes, Chairman.”

Giving a brief reply, I stood up, bowed politely to the executives, and sat back down.

“It's a pleasure to meet you. My name is Cha Jiham. I am currently employed by Hangang Group and, due to unavoidable circumstances, I won't be able to resign until the end of the year.”

“May I ask what these unavoidable circumstances are?”

I turned toward Chairman Park Yeongil, silently asking for permission.

As if reading my thoughts, he gave a slight nod.

“What I'm about to say must remain strictly confidential for the time being. Please keep that in mind.”

“Yes, we understand.”

“The artificial intelligence industry is expanding rapidly, and the American corporation Endivia stands at the forefront. To secure the high-bandwidth semiconductors used in AI, Endivia has decided to establish a joint venture with Hangang Electronics. Bongard Group and our company also plan to participate.”

“What does the creation of the joint venture have to do with your inability to leave Hangang Group?”

“The idea for the joint venture came from me.”

At that moment, Chairman Park Yeongil intervened to add weight to my words.

“I'll tell you the real reason Director Cha cannot leave Hangang Group. Bongard Group and Endivia are investing in this venture solely because of him.”

A low murmur immediately spread through the room. The executives clearly found the motives of both corporations too far-fetched to believe.

As though he had anticipated their reaction, Chairman Park continued without delay.

“To be honest, I had exactly the same doubts at first. But Vice Chairman Yoon, in order to dispel them, called Chairman Bongard right in front of me.”

Chairman Park recounted the contents of the conversation between Cha Jiham and Clark Bongard without leaving anything out.

“...If Director Cha resigns, the joint venture project could collapse. By the way, in exchange for Director Cha remaining at Hangang Group, our company managed to secure a 9.5 percent stake.”

“I understand now.”

“Now continue your discussion with Director Cha.”

Having clarified the situation succinctly, Chairman Park passed the initiative to me with a glance. I bowed my head slightly in gratitude and addressed those present.

“Does our company have a department responsible for stock investments?”

“I am Executive Vice President Ju Seongjin, head of the Equity Investment Department.”

“Vice President Ju, I'm sure you know the meaning behind the old saying, ‘Buy on rumors, sell on facts.’”

“Of course.”

“Once the joint venture reaches full operation, dominating the artificial intelligence market will only be a matter of time.”

“Ha-ha-ha!”

As if he had read my thoughts, Chairman Park Yeongil burst into hearty laughter. The executives followed him and smiled broadly with relief.

After waiting for the laughter to die down, I continued.

“Vice President Ju, remember another saying: ‘Fortune favors the early riser.’”

In other words, I was openly urging him to begin purchasing shares of Hangang Electronics and Endivia as soon as possible.

“I'll do exactly that. Director Cha, what returns are you expecting from these investments?”

“It depends on when we sell, but I predict roughly thirty percent for Hangang Electronics and around fifty percent for Endivia.”

“And when would be the best time to lock in maximum profits?”

“A meeting regarding the joint venture will take place soon. Once representatives from Endivia and Bongard Group arrive in our country, I'll inform you separately when it's time to sell.”

“I understand.”

“Under no circumstances should rumors spread that our company is buying shares in these two giants.”

At that moment, Chairman Park Yeongil interjected once more.

“You heard Director Cha's warning?”

“Yes, Chairman!”

“This will also test how well our executives can keep their mouths shut.”

A heavy silence descended over the conference room. The executives instantly sensed the hidden threat behind Chairman Park's words.

Seeing their frozen expressions, the old man rose to his feet.

“I have business to attend to, so I'll leave. Director Cha, continue the meeting.”

Chairman Park leisurely departed.

When I returned after seeing him off, the executives were still standing. It vividly demonstrated the awe I inspired in them.

“The ceiling isn't going to collapse. Please, sit down.”

“Yes, Director Cha!”

Responding in unison, the executives quickly sat down.

It seemed to me they were overdoing it a bit, but I kept my thoughts to myself.

“I have a question for President Cho. You mentioned that our company possesses assets totaling roughly fifty trillion won. How much of that do we currently hold in cash?”

“We keep about thirty percent in cash for emergencies.”

“More than I expected. Vice President Ju, reduce our cash holdings to five percent and use the remaining twenty-five percent to aggressively purchase shares of Hangang Electronics and Endivia.”

“Yes, it will be done.”

Leaving Vice President Ju Seongjin's firm reply behind, I continued speaking with President Cho Myeongjeong.

“Among our assets, excluding cash, which are the most difficult to recover?”

“On average, about two percent.”

“Seven hundred billion won in bad debt? Isn't that excessive?”

“I think so too. But around five hundred billion won is tied up in a company called K&J Bio.”

“Is there any chance of recovering those bad debts?”

“Director Cha, allow me to answer in his place.”

Chief Secretary Kang Inhan spoke before President Cho Myeongjeong could even open his mouth.

“Go ahead.”

“The head of K&J Bio is a man named Go Yeongjun. As soon as the company encountered difficulties, that bastard deliberately staged a fraudulent bankruptcy, transferred all the assets overseas, and fled to China. If we catch him, we'll recover every penny.”

“And how much did he transfer?”

“Based on what we've tracked so far, approximately 1.5 trillion won.”

“That's an insane amount of money. But is it really possible to catch him?”

“Twenty employees from our debt collection department have already gone to China and are working there.”

“I hope you catch him and recover those assets.”

“We'll do everything possible.”

The executives answered my questions with utmost sincerity and detail. After ending the meeting on a friendly note, I headed to the thirtieth floor, where the Department Director's office was located.

The moment I stepped inside, I froze.

The office was larger than my entire apartment. And the magnificent view of the lush green slopes of Bukhansan through the huge windows was an added bonus.

Turning to Kang Inhan, who had followed me inside, I couldn't hide my astonishment.

“Don't you think this office is too large for me?”

“As I've told you repeatedly, Director Cha, you are the second most important person in our company.”

“Well, if you put it that way, I have no room to argue.”

I headed toward the desk, but my mood instantly soured.

Curled up comfortably in my office chair, sleeping soundly as though he owned the place, was Saho.

“You little brat!”

Smack!

Without any mercy, I gave Saho a solid whack.

Caught completely off guard, Saho sprang up instantly, bared his sharp fangs, and growled furiously.

“Rrrraaaah!”

“And who owns this chair?”

“...Hrrr!”

“How dare you sit in the chair before its owner?”

“...Grrr!”

Apparently, Saho was deeply offended and continued baring his teeth ferociously.

Of course, I knew his weak point perfectly well.

“So, do you want me to throw you out of my office—”

Before I could finish, Saho's fangs disappeared instantly, and he began wagging his tail in an ingratiating manner.

“What a ridiculous creature. Are you a cat or a dog?”

“......”

“Get out of my chair!”

As soon as I shouted, Saho obediently jumped down and sprawled on the floor, exposing his belly.

Chuckling, I patted him on the head and finally sat down.

Turning toward the window, I silently enjoyed the breathtaking view of Bukhansan for several minutes before moving over to the luxurious leather sofa, which still smelled of expensive new upholstery.

Kang Inhan and Saho immediately occupied the seats opposite me.

“Secretary Kang, shouldn't you be accompanying the Chairman right now?”

“The Chairman has no more appointments scheduled for this morning.”

Only then did I understand the old man's true intentions.

Chairman Park Yeongil had deliberately left me alone with the executives in order to strengthen my authority and allow me to prove myself. The thought that he was making things unnecessarily complicated crossed my mind, but I kept it to myself.

“Is the Chairman in his office right now?”

“Yes. He's waiting to have lunch with you.”

“In that case, shall we head to the Chairman's office?”

***

At the same time.

Chairman Park Yeongil had summoned President Cho Myeongjeong for a private discussion.

“How many shares of Hangang Electronics and Endivia did Director Cha order us to purchase?”

“He instructed us to invest about 12.5 trillion won from our fifteen trillion in liquid assets.”

“He acts boldly. On a grand scale.”

“Indeed, Chairman. I was thinking perhaps we should also purchase shares of Hangang Electronics and Endivia with your personal funds.”

Park Yeongil shook his head.

“I have entirely different plans for my personal wealth.”

Knock knock.

At that moment, a knock sounded, and Cha Jiham, Kang Inhan, and Saho entered the office.

We politely bowed to Chairman Park Yeongil and sat down on the empty sofa. Naturally, Saho managed to jump onto it before any of us.

“Director Cha, have you come to have lunch with this old man?”

“That's right, Chairman.”

“Before we eat, we need to discuss a very important matter.”

“I'm listening.”

“Do you remember what we discussed last Saturday evening?”

Back then, Chairman Park Yeongil had mentioned that his personal wealth amounted to seventy trillion won. While proposing that I inherit it, he had stated one condition: I would have to solve the inheritance tax issue myself. To help me do so, he had promised to lend me starting capital so I could grow it and prepare the necessary amount.

Obviously, he was returning to that topic now.

“You mean the starting capital?”

“Excellent memory. I intend to lend you ten trillion won as starting capital.”

“...What?!”

I nearly cried out in shock.

The reaction was understandable. I knew all too well just how astronomical ten trillion won truly was.

Chairman Park stared at me and continued.

“At most, I have two years left to live. In other words, you only have two years to come up with enough money to pay the inheritance tax. That's why the starting capital should be as large as possible.”

“I partly agree with your logic, Chairman. But I don't need that much money.”

“It sounds like you're absolutely confident you can obtain the inheritance tax money within two years without my trillions. Am I right?”

In truth, I had leverage in mind.

If you possess perfectly accurate insider knowledge about the market, there is no more effective tool for multiplying wealth quickly than margin leverage. But it is also an all-or-nothing gamble carrying enormous risks.

If I mentioned leverage to Chairman Park right now, he would reject it with absolute certainty.

There was no need to ruin the excellent atmosphere with unnecessary arguments.

“Of course I can.”

“And how exactly do you plan to obtain that money?”

“My plan still requires further refinement, so I'll explain it to you later.”

“Very well. Then how much should I lend you as starting capital?”

“I currently have too many responsibilities at the company and simply can't devote myself entirely to stock trading. Therefore, I have a counterproposal. I will personally identify promising stocks and provide precise recommendations, while you invest your own money. In exchange, you'll give me exactly fifty percent of the net profits.”

“So you're absolutely refusing to borrow from me?”

“Even starting capital is a debt.”

“Ha-ha-ha!”

Chairman Park Yeongil's sincere, booming laughter filled the entire office.