It was about time Taewoo Group relocated its headquarters.
Even if they couldn't move immediately, they needed to break ground this year to make the move possible ten years down the line—so in a way, they were already late.
The top conglomerate in the business world.
Someone once said this:
A building's height is a symbol of power.
And the current headquarters fell short of representing the power Taewoo Group held.
Besides, how could a grandson refuse when his grandfather finally expressed a desire after so long?
"The building has definitely aged. I agree—a new headquarters worthy of the new Taewoo Group seems necessary."
"Oh ho! So you think so too? The problem is, all the prime land has already been snatched up by other major corporations or is owned by the government."
Most of Korea's major conglomerates had their headquarters in Seoul.
In fact, none of the top ten groups in the business world were headquartered anywhere else.
Naturally, the number-one Taewoo Group had to remain in Seoul.
"There's still some good land left. I found a very promising site owned by the Charlotte Group."
"You mean the land they bought during the military regime? One of the last golden plots left in Gangnam."
"They bought it for 80 billion won, and now it's said to be worth over 1 trillion. It certainly holds that kind of value."
"So, are you saying you want to take that land from them? The Charlotte Group will never give it up. Even when the government put pressure on them, they held onto it like their lives depended on it."
The land had been under suspicion of preferential acquisition during the military regime.
Naturally, once the regime ended, the democratic government applied heavy pressure on Charlotte Group.
But despite the pressure, Charlotte Group managed to hold onto it and even made several
attempts to construct a high-rise building on the site.
"In this world, there's nothing that can't be bought or sold. If you offer what they want, they'll sell."
"Oh ho, you sound very confident. So, do you want your grandfather to step in and help?"
"Would you be able to arrange a meeting with Chairman Jin of the Charlotte Group?"
"Chairman Jin? He's someone you can only meet if I personally reach out. He's one of the few chairmen older than me still active."
Chairman Jin Ho-gyun of the Charlotte Group was nearing seventy.
In the business world, he was considered an elder statesman. A meeting with him could only be arranged if someone of a similar age and status—like his grandfather—took the initiative.
Grandfather's drive was truly formidable.
Within just a single day, he had managed to arrange a meeting with Chairman Jin Ho-gyun.
That alone showed how much he desired the new headquarters, and I wanted to help fulfill that desire.
To do that, I needed to win over Chairman Jin.
I offered a deep, respectful bow to make a good first impression.
"It's an honor to meet you, sir. I'm Kim Min-jae, Vice Chairman of Taewoo Group."
"Hahaha, so you're the grandson Chairman Kim is always so proud of. You're a fine-looking
young man—reminds me of Chairman Kim in his younger days."
"If we're talking about looks alone, you were far more impressive, Chairman Jin. When I first
saw you, I honestly thought you were an actor, not a businessman."
Grandfather even moistened his lips for the first time in ages.
Amused by the witty banter between grandfather and grandson, Chairman Jin broke into a hearty laugh.
"This isn't like me—did something good happen today? Or are you buttering me up to take
something from me?"
"Come now, sir. In this day and age, who takes anything by force? If both sides are in agreement, it's just a fair trade."
"So, there is something you want. Bringing your grandson along—are you trying to rob an old man like me?"
"Come now, we're both growing old. Why should only you be treated like a senior? You may be my elder in this life, but who knows—I might get to the afterlife before you and be your senior there."
"You rascal. What kind of thing is that to say? Arguing with you is just a waste of my breath. Vice Chairman Kim, you tell me—what is it you're after?"
Suddenly, the spotlight turned to me.
It wasn't a chance I could afford to waste, so I had to catch the pass with a deft display of verbal footwork.
"I understand Charlotte Group is currently focused on its duty-free business. As you know,
Taewoo Electronics is collaborating with the Arnault family to produce premium products."
"Are you saying you'll launch the Arnault brand in our duty-free stores? If you can make that
happen, I might start calling Chairman Kim my big brother."
"Please don't! The very thought of you calling him 'big brother' gives me goosebumps."
"Hey now! Didn't I say I didn't want to argue with you? I'm talking with Vice Chairman Kim here—so hush."
To think there was someone who could scold my grandfather.
Granted, it was all in jest, but still—aside from the late Chairman Jang of Hyundai Group,
Chairman Jin was the only one who could speak so freely with him.
"I can help persuade the Arnault family to launch their luxury brand."
"Since Chairman Kim doesn't want to be called 'big brother,' I guess you'll have to offer
something else in return. No more beating around the bush—just say what you want."
"I'd like to purchase the land in Gangnam. I'm willing to pay well over its current market value."
"Well, would you look at these highway robbers. So that's why you wanted to see me—because of that land. Chairman Kim knows full well what kind of humiliation I endured just to hold onto it!"
Chairman Jin Ho-gyun's demeanor shifted in an instant.
Just moments ago, he'd seemed like a warm, grandfatherly neighbor—but the moment land was mentioned, he transformed into a vengeful specter.
"I can promise you a more-than-sufficient amount for the land. And if I may add—because of the air force base nearby, that plot isn't eligible for high-rise development, is it?"
"So, are you saying that if the land is transferred to Taewoo Group, you can solve the air force base problem?"
"The issue can be resolved with money. If Taewoo Group contributes part of the relocation costs for the air base, we can secure the necessary permits."
"Tsk, tsk. I don't understand why you'd throw money at something like that. Why should a
private company shoulder the burden of relocating a military base?"
There was a clear difference between us—he was a man who had built a corporate empire from the ground up.
He was always looking for the solution that brought the highest returns.
As for me, I believed that throwing money at a problem was the simplest way to fix it.
But Chairman Jin preferred solutions that cost the least.
"If I can buy time with money, I'm always willing to invest."
"Funny how a young man values time more than an old one. Haste makes waste, you know.
There's a time for everything. Even if you pour in mountains of money, you might not get
approval. But if the timing's right, you could get it without spending a fortune."
"I take it you're not satisfied with the offer I presented."
"I'd be glad to have the Arnault family's brand in our duty-free stores—but that's not enough for me to give up such a prime piece of land."
"I understand the land Charlotte Group owns in Gangnam is valued at roughly one trillion won. I'm offering one and a half trillion—50% above market price."
"Still not enough. Do you really think all the effort we've put into holding onto that land is only worth 500 billion?"
It was becoming clear that money alone wouldn't close this deal.
I could try offering even more—but I doubted it would change Chairman Jin's mind.
That meant I needed to present something other than money to sway him.
It was time to reveal the real trump card.
"Taewoo Group currently holds 5% of Charlotte Group's Korean shares, and another 5% of its Japanese shares."
"You're offering to hand those over? Increasing our stake would certainly be welcome—but even that isn't enough to warrant giving up that land."
The value of shares changes depending on the situation.
Right now, Chairman Jin held firm control over management, so that 5% stake was meaningless.
But if a management dispute were to arise, those 5% shares could tip the entire balance.
"You know better than anyone what happened to Hyundai Group, once ranked first in the
business world."
"They collapsed because of a power struggle. Are you cursing Charlotte Group to suffer the same fate?"
"This isn't a curse or a prediction—it's simply the natural course of things. Once you step down, won't your eldest and second sons end up fighting over management rights?"
"Hey now! Tsk tsk. Some things are better left unsaid. Chairman Kim, what kind of education did you give your grandson?"
"I didn't mean to offend. If I've upset you, I sincerely apologize. I only meant to say that I'd like to help ensure that Charlotte Group doesn't go down the same path as Hyundai Group."
The "War of Princes"—a term all too familiar to Korea's major conglomerates.
Both Samsung Group and Hyundai Group had gone through bitter internal power struggles,
writing a dark chapter in their corporate histories. Charlotte Group's turn wasn't far off.
"Chairman Jang of Hyundai7 Group caused that mess because he waited too long to name a
successor. I, on the other hand, have already chosen mine."
"But you haven't made any official announcement. Even if you've chosen someone in your heart, no one knows when or how things might change."
"So, tell me—who do you think is more suited to be the successor?"
"It wouldn't be right for me to comment on another group's succession issue. All I can say is, I'm in a position to help ensure that whoever you choose ascends smoothly to the top."
Clap clap.
Grandfather clapped his hands, lightening the mood.
With his signature playful smile, he turned to Chairman Jin.
"Let's take a short break before we continue. I'm so hungry I can feel my stomach sticking to my back."
"Hmph. Eating with you two might give me indigestion. I'll arrange another meeting soon—let's continue our discussion then."
Chairman Jin stood up, visibly displeased.
After hearing such distasteful talk about a potential succession crisis, it was no surprise his mood had soured.
His frustration was evident even in the way he walked out of the restaurant, and Grandfather
clicked his tongue as he watched him go.
"That bad temper of his really hasn't mellowed with age. And you were too hasty bringing up the succession dispute."
"Still, he said he'd meet again, so there's a chance. And if not, we can always find another piece of land."
"You say that like there's another place in Seoul suitable for a major headquarters."
"There is one. The property currently occupied by KEPCO is even larger than Charlotte Group's site."
The KEPCO (Korea Electric Power Corporation) headquarters in Gangnam.
They were planning to relocate within a few years. For now, they weren't looking to sell—but with their growing deficit, it was only a matter of time.
"So you're going after that one too?"
"Even if we succeed with just one of the two sites, we can build the new headquarters."
"Chase two rabbits, and you might lose them both."
"I'm more worried about what to do after I catch both rabbits."
Of course, the immediate plan was to target Charlotte Group's land first.
And if the opportunity arose, the KEPCO site would be next on the list.