A plot of land not far from where the new city of Pangyo would rise.
The highway would divide Pangyo into East and West, and the site designated for the IIT Korea campus lay in East Pangyo.
Even within East Pangyo, it was in a slightly outlying area.
The groundbreaking ceremony was attended by my grandfather, the chairman; myself, the vice chairman; and several politicians.
After the grand ceremony concluded and we had shaken hands with the politicians and local
dignitaries, my grandfather and I were finally able to step quietly into the construction site.
"So, we're finally breaking ground."
"I never imagined my grandson would bring over an entire foreign university. I was afraid people might say you're not really mine."
"Well, it's just one campus, but each IIT campus is considered an independent university, so I
suppose it amounts to that."
"But doesn't it feel like a waste? Ten years ago, this land was nothing but farmland. Now, with the new city development, the land prices have skyrocketed several dozen times. Even now, they're rising by a million won per pyeong every month."
When the development of a new city is announced, land prices shoot up vertically.
Among them, Pangyo had become one of the most successful urban development projects.
Since we had bought this land early on, we could sell it now and easily realize more than
twentyfold returns.
But so what?
In the long run, establishing a system to reliably attract talented individuals by bringing in the IIT Korea campus would be far more beneficial.
"Not at all. I don't feel it's a waste. Besides, in another ten years, won't the land value increase at least fivefold again? If it ever becomes necessary, I'll consider selling then."
"Speaking of which, I heard you've bought quite a few other plots in Pangyo as well. What are you planning to do with those?"
We had purchased land in various parts of Pangyo.
The largest plot would house the IIT campus, but the remaining parcels had yet to find their
purpose.
"I plan to build large office buildings on those sites. They'll become home to IT companies."
"You intend to attract IT companies to Pangyo?"
"Given Pangyo's proximity to Seoul, I believe it's worthwhile for IT firms to relocate here. Many companies collaborating with Taewoo Group will move their base of operations to this area."
I had mapped out a plan to transform the Pangyo new town into a true IT hub.
Of course, since the groundbreaking had only just taken place, it would be at least three or four years before any real progress would become visible.
"We've broken ground for the IIT campus, but the Taewoo Group's new headquarters still has a long way to go."
"I heard KEPCO's land will soon be up for public bidding. Securing that site will be our first step —we'll move forward gradually."
"Even if we win the KEPCO bid, constructing a high-rise will be difficult with all the regulatory hurdles."
"Normally, obtaining the permits takes four to five years. But if we succeed in acquiring the
KEPCO site, I've already devised a strategy to drastically shorten that timeline."
"I want to see the groundbreaking with my own eyes. If I don't, I feel I won't be able to rest in peace—not even after death."
"Please don't say things like that."
My grandfather was still in good health.
But given his advanced age, it was only natural for him to feel a sense of urgency. For his sake, I had to secure the site for our new headquarters as soon as possible.
Not just the KEPCO land, but also the plot owned by the Charlotte Group.
No matter what, both would have to be resolved within this year—only then would my
grandfather be satisfied.
The KEPCO land issue was one that needed to be resolved in the political arena.
There were signs that a public bidding process would begin before the end of the year at the
latest.
But the matter of the Charlotte Group's property remained completely silent.
I had already been waiting for several months.
Although the Arnault family's brand had been introduced into the Charlotte Group's portfolio, there was still no response.
It seemed likely they'd only give me an answer after succeeding in their expansion into China.
Yet strangely, Charlotte Group's efforts to enter the Chinese market had been sluggish and
unproductive.
And then today—
An invitation arrived from Charlotte Group.
Chairman Jin Ho-gyun, along with Vice Chairmen Jin Dong-oh and Jin Dong-gu.
All three would be present at what was essentially a family gathering—and I had been invited.
"It's been far too long since we last met. I was beginning to think Charlotte Group had forgotten about me."
"I truly apologize. It was never my intention to keep you waiting, but internal matters within the group have yet to be resolved, so we couldn't proceed to the next stage."
Chairman Jin Ho-gyun offered a straightforward apology.
I hadn't made the remark in order to extract an apology, but his sincerity made me offer a
sheepish smile in return.
"Not at all. So, does that mean the group's internal matters have now been resolved?"
"I can barely show my face… Regrettably, no—they have not been settled. That's actually why I asked you to come. I need your help."
Chairman Jin turned his head slightly as he spoke.
He looked genuinely embarrassed. And if it was enough to make a man like him react that way, there could only be one issue.
His children.
The faces of the eldest and second sons, seated on either side of him, were visibly flushed. It was clear something had gone wrong between the siblings.
"If it's something I can help with, I'll do my utmost."
"Vice Chairman Jin Dong-oh has insisted he'll take charge of the group's China expansion.
What's your opinion?"
"Wasn't Vice Chairman Jin Dong-gu already designated as the one responsible for the China
initiative?"
"That may be true, but I can't deny Vice Chairman Jin Dong-oh his opportunity, can I?"
Chairman Jin Ho-gyun, once called a ruthless businessman, was still known as the Iron-Blooded CEO.
But when it came to his children, he was no different from any other father.
He had once told me that he was considering Vice Chairman Jin Dong-gu as his successor. Still, it seemed likely that Jin Dong-oh had pleaded with him for one last chance.
No parent can truly win against their own child.
Jin Dong-oh's desperation must have softened his father's heart, leaving the matter of who would lead the China expansion unresolved.
"I'll follow your will, Chairman Jin."
"Are you saying you don't care whether it's Jin Dong-oh or Jin Dong-gu who's chosen as the lead for China?"
"That's correct. I got involved in this endeavor because I trust your judgment. I intend to adjust and carry out every plan in line with your final decision."
There was no need for me to interfere.
Though in our previous meeting, I had leaned slightly toward the younger son, Jin Dong-gu, if I spoke up now while Chairman Jin was still torn, I risked being resented by the other side.
"My intention wasn't to burden you with such a decision. The final call will be mine."
[Father! I must be the one to do this!]
Suddenly, Japanese rang out.
It was the voice of the eldest son, Jin Dong-oh. While he could understand Korean, his spoken Korean was still clumsy.
"Chairman, I absolutely cannot yield. I've already laid out every step of the plan—all that's left is execution in China. I won't stand by and let Vice Chairman Jin Dong-gu steal a meal that's already been set on the table."
[Steal it? I've been planning this China expansion long before you ever got involved!]
The difference in tone between the two was striking.
Jin Dong-oh called him "Father," relying on his status as the eldest son.
Jin Dong-gu, on the other hand, maintained formality, choosing a more professional address
appropriate for an official setting.
"With tempers like these? If you wish to lead the Charlotte Group someday, you need the breadth of mind to embrace everything. Tsk, tsk... Why the rush?"
[There are already rumors spreading through the company that whoever succeeds in China will become the next chairman. How could I possibly back down now?]
"I can't give up either."
It was a fiercely tense argument between the two vice chairmen.
Seeing this must have pained Chairman Jin, as he finally came up with a clever solution.
"In any case, one of you will be in charge of Charlotte Group Korea, and the other will lead
Charlotte Japan. So stop drawing lines in the sand."
"Are you serious?"
[Well then, hmm.]
It was a naive way of thinking.
Splitting the company between his sons?
That would only weaken the Charlotte Group's power.
He knew that full well, but both Chairman Jin and the current head of the group, Chairman Jang, had made that choice before.
"Pardon me for interrupting."
"If it's Vice Chairman Kim speaking, I'll hear anything."
"To protect the Charlotte Group that Chairman Jin built, a winner-takes-all approach is essential. If you split the group in half, it won't just be cut in two—it could be reduced to a quarter."
Charlotte Group Japan and Charlotte Group Korea.
If the eldest and second sons divided the company, would they cooperate?
More likely, they'd compete, steadily eroding each other's strength.
"So, you're saying everything should be inherited by just one person?"
"To put it bluntly, the winner takes everything, and the loser is left with scraps and forced to
branch off—that's the only way the Charlotte Group can continue."
"Hmm, you're not wrong, but as a father, that's easier said than done…"
That was the end of the advice.
The choice was entirely Chairman Jin's, and I had no intention of interfering further.
I just hoped they would quickly decide on the person in charge of the China expansion and hand over the Charlotte Group's property.
[Father! Please give me just one last chance. I'll prove that I have managerial skills on par with anyone else.]
"Hmm, Vice Chairman Jin Dong-gu, it looks like you'll have to step back this time."
"Chairman! It's not right to take away my chance just to give it to Vice Chairman Jin Dong-oh."
Jin Dong-gu's voice rose sharply.
I would have felt deeply wronged if I were in his place.
He turned his gaze to me, silently asking for help, and I very subtly nodded, signaling him to
accept it.
"We'll give Vice Chairman Jin Dong-gu a better opportunity, so don't be too upset."
"Ah, understood."
[I will succeed, no matter what. I will prove the power of the eldest son, carrying my father's
blood, across the Chinese continent!]
The situation was unexpectedly settled.
The person in charge of the China expansion would change from Jin Dong-gu to Jin Dong-oh.
Jin Dong-oh was so eager to fly to China immediately that the meal didn't last long.
As soon as the meal ended, Jin Dong-gu cautiously approached me and whispered in my ear.
"Why did you tell him to take over the China expansion project?"
"I never said such a thing."
"But you signaled with your chin!"
Pretending not to know wouldn't work here.
I didn't want to prolong the conversation unnecessarily, but seeing Jin Dong-gu's face, as if he had lost everything, I couldn't help but add more.
"You seem to think that China expansion is the only path to the throne. In reality, China
expansion is a poisoned chalice."
"A poisoned chalice? Are you saying you expect the China expansion to fail?"
"That's hard for me to say. But I can guarantee one thing: if you try to enter China with
insufficient management skills, you will definitely fail."
"…I will believe you. If things go according to your words, I will surely repay you. But if it
doesn't, I might resent you for the rest of my life."
Jin Dong-gu would never come to resent me.
Because the outcome of Charlotte Group's China expansion was already decided.