Chapter 2 – Taewoo Securities
After coming home from the banquet, I took the bankbook out and put it in a safe hidden behind my desk, locking it away carefully.
Inside the safe were ten bank books–one for my first birthday party, another for when I entered elementary school, and another for my graduation. One of them was my reward for being the top student in my school.
The combined value of all those books came to a staggering 7 billion won.
In my previous life, I spent that money without a second thought, immersing myself in the college experience.
Despite that, my grandfather was rather happy, saying a man should know how to spend his resources when needed. It was also because he had faith that I would not cause an accident. After all, not only was I in first place from elementary school to high school, but I also gained admission to the business department of the top university in Korea with exceptional grades.
“What should I do with this? Should I invest it?”
Actually, it’s not that I am in need of money. Why would a third-generation heir of a conglomerate be in need of money? But to prevent the looming catastrophe, I needed a huge amount of capital.
When Taewoo Group went bankrupt, they had a staggering debt of 89 trillion won.
The government and the betrayed executives clearly inflated the amount, but Taewoo Group undoubtedly had a significant debt load.
In order to save the company, I would need more than money. I needed connections—a network to break the ties that bind my family to a web of rival companies and government interference. Money was essential, but I also needed people I could trust.
For now, let’s start with a lot of money first. I knew what lay ahead of me; information was power, and I had a wealth of it at my disposal.
The problem is that I was only 17 years old, a minor in the eyes of the business world, and that made all the difference.
I needed someone who could translate what I knew into profitable ventures.
* * *
Taewoo Group had over 40 affiliates—construction, automobiles, heavy chemicals, and finance, etc.
My grandfather understood the significance of finance, which was why he founded Taewoo Securities two decades ago. Built on a solid foundation, the firm held significant prestige, only allowing the elite from the top three companies in the financial sector to join its ranks.
And here I was, sitting in front of that same Taewoo Securities.
“Young Master, it’s cold out here, and it’s already past mealtime.”
“Give me a minute! Can’t I even look around my grandfather’s company?”
“We will be scolded greatly if you get sick, Young Master.”
“Just one more minute.”
I had repeated this more than five times, each time watching my secretary’s expression turn paler. I continued to ignore the pleading faces as I observed the employees bustling through Taewoo Securities’ entrance.
‘Oh! Investment ability rank A! It’s been a while since I saw that.’
Suddenly, I noticed an employee with A-rank investment capability and quickly wrote down his name in my notebook. The names I wrote down in this notebook would soon become the backbone of my future investment team. Although I haven’t gotten my grandfather’s permission yet, how could he refuse a request from his adorable young grandson?
The employees at Taewoo Securities were no ordinary workers; they were the cream of the crop. Despite listing numerous employees with impressive work skills such as investment capability, analytical ability, and adept management skills, I had yet to locate the exceptional leader– the S-rank talent I required to manage my team.
Actually, S-rank talent was truly rare, as I had only seen one person so far. He was none other than my grandfather. With his S-rank management skill, he transformed Taewoo Group into one of the top three conglomerates in the industry.
Was it too much to ask to find someone else like him?
If my memories served me right, there was a talented individual at Taewoo Securities who made a historical impact in the industry.
Could it be that he hasn’t joined the company yet?
As I slowly got ready to leave because of the worried secretaries who were turning pale like corpses, I saw the employee with S-rank capability who I have been searching for. His name was also identical to that of the person I’ve been waiting over 3 hours for.
[Personal Details]
Name: Han Jung-hoon Age: 29
Affiliation: Assistant Manager of Overseas Stock Business Division
Particulars: Wishing to retire.
Work Competency: Analytical ability S.
Han Jung-hoon.
In 10 years, he would rise to prominence as the CEO of a well-known investment company, a legendary figure who would build a sizable financial firm by acquiring Taewoo Securities, which had broken away from the group. He would also become a well-known investor who could thoroughly analyze the information provided and create a portfolio that maximized returns to monumental profits.
The very person who would have his hands on trillions of won, was hoping for an early retirement as a mere assistant manager.
Standing at the entrance, he lit up a cigarette from the pack. One could only imagine how stressful his life is from the dark circles under his eyes.
To give him some hope in his stressful life, I quickly got up and approached him as soon as I spotted him.
“Are you having a hard time?” I asked.
“What brings you here, student? Are you on a field trip? I guess you can see that I want to resign too. Study hard and become a judge or prosecutor. Don’t work in stock, or you will end up like a slave like me.”
“Please hang in there, since a good opportunity is coming your way.”
“Thanks for the encouragement. It reeks of cigarettes here, so go to the front desk on the first floor and ask somebody to guide you.”
Apparently, Han Jung-hoon was half-broken. If he quitted now, it would set my plans back significantly.
Since I couldn’t afford to lose someone like him, I quickly went to meet my grandfather to bring this talent under my wings.
* * *
My grandfather was a man devoid of any leisurely pursuits. If one asked him what his interests were, he would joke that work is his hobby. However, I knew the truth—his only true passion was me. The fact that he stopped doing whatever he was doing to hug me was proof of that.
“What brings you by, Min-jae? You never come to my study since you hate the smell of old books.”
“Grandfather, I have a favor to ask of you.”
“Anything you wish, my dear. Toys? Game console?”
“No, I’m ready to take finance seriously. I want to study it properly.”
“So that’s why you went to Taewoo Securities today. Well, it’s time to learn it, since you’ll soon become a high school student anyway.”
My grandfather received updates on all of my schedules. It felt like surveillance in my past life, but now I could tell it’s love.
“I’m going to invest using the allowance you gave me, grandfather.”
“That’s great. What stocks should I get you?”
“I want to do it myself. I want to set up a team, Grandfather.”
“A team, huh? How earnest. So what can I do for you?”
“I’d like to have some employees working at Taewoo Securities to work alongside me…”
A typical family would treat the story of a 17-year-old who started an investment team as a joke over dinner, but my family wasn’t like that. In a conglomerate family like ours, having stock accounts was one of the educational methods to study finance from an early age. This also explained why a significant portion of middle and high school students rank among the top 100 stock-rich individuals in Korea.
“Okay, how many employees do you want around you to start?”
“I have a list,” I replied confidently. “I’ve sorted out the employees I want to invest with—those whose names I have written here.”
“Looks like you’ve come prepared. Alright, give it a shot. Remember this. Although I’m the chairman, I can’t force employees to work with you. If they prefer to return to Taewoo Securities, that’s their choice.”
“Please just leave it to me!” I replied confidently.
Although Grandfather was looking at me happily, it didn’t seem like he had high expectations for me. I bet he just wanted me to learn my lessons.
“If you’re going to invest, do it right. Give me a second.”
After those words, my grandfather opened the safe under the desk. Gold bars, bonds, and bank accounts piled up inside. Then he took out a bankbook and put it in my hand.
“There’s 1 billion won in it. Invest with your allowance.”
“Thank you so much, Grandfather!” I thanked him with a kiss on the cheek.
1 billion for a kiss.
It was such a profitable deal, demonstrating both filial piety and making money!
* * *
The following day, the four Taewoo Securities employees I had my eyes on arrived at my house. Despite their stellar backgrounds, they seemed somewhat deflated—probably aware they were about to serve as investment mentors to the chairman’s grandson.
“Hello, my name is Kim Min-jae.”
“Nice to meet you. I’m Assistant Manager Han Jung-hoon from Taewoo Securities,” replied the oldest. I had chosen a mix of deputies and junior employees in their mid-to-late 20s due to their flexible positions and potential. After all, I couldn’t suddenly bring in someone above the manager level, and the higher the position, the harder it was to move him according to my will.
Therefore, they were mainly deputy and employee-level employees, and all were in their mid-to-late 20s.
“Please take a seat, everyone. Can I get you something to drink? We have orange juice and cookies.”
There were refreshments on the table, but everyone was more focused on admiring the mansion of a conglomerate family.
Before thinking about how to take advantage of them, I had to do my best to not have them recognize me as a child first.
“I have a vision for some investments, and I hope you can assist me in making it a reality.”
“Even though we’re not experienced enough, we’ll do our best.”
“Then can I ask you a question first?”
“Of course.”
“Where do you recommend I invest to maximize my returns?” I asked.
At my question, the four employees briefly looked into each other’s eyes. They had to be thinking about what to say so that a student like me could understand.
“You could consider real estate or invest in the electronics sector for stable returns.”
“What if I’m looking for a more aggressive, high-risk strategy instead?”
“Then you might want to look at emerging markets.”
I could feel the startled tone in their voices. But I had no intention to stop there.
“I’m specifically interested in the Japanese market,” I stated.
“Right now, the Japanese market is significantly overvalued. You could lose a lot if you invest there.”
“Overvalued, you mean like a balloon or a bubble about to burst?”
“It’s more like a bomb that we never know when it’s going to explode. It might hold for a while, but the risk is always there.”
“What if the bomb explodes in March?”
“What do you mean?”
“I heard that the Japanese government will place a cap on the total amount of borrowing.”
Japan’s bubble economy, which began in the 1980s. Despite the fact that eight of the world’s top 10 companies were currently Japanese companies, everything would change within the next 10 years. And the catalyst of that was the cap on the total amount of borrowing.
Within a few months or a year at the most, the Japanese stock market would be reduced by halves.
Real estate would become dirt cheap, and there was not much time left for companies and people either since they would soon go bankrupt for failing to repay their loans.
“So you’re saying you want to make investments on the premise that the Japanese economy is going downhill after March? That’s way too risky, Young Master.”
“Didn’t you say that the Japanese market is significantly overvalued, Assistant Manager Lee?”
“I did, but…”
Instead of answering, Han Jung-hoon turned his head and looked at other employees for support.
But there were answers that were completely different from his expectations.
[If the cap is implemented, it could explode. The Japanese government has raised interest rates four times since last year, from 2.5% to 3.25%.]
[If you add the total borrowing cap on top of the interest rate hike, the bubble will disappear.]
[The total cap would maybe work 2 to 3 years ago, but what they’re doing now is just pressing the detonator.]
Those were the answers I wanted.
As expected from employees with A-rank work skills.
Of course, there was a good chance that they had given these answers because they wanted to look good in front of me, the third-generation heir of a conglomerate family.
“Then please set the investment direction while taking the bursting of the bubble in the Japanese economy into consideration.”
“We need to know exactly the size of the investment to set the investment direction, Young Master”
“It’’s about 22 billion won,” I said.
“22 billion won?”
—
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