Captain Kang's office.
After wrapping up the meeting with the Vice Minister of Finance and the President of KDB at the Korean-style restaurant, I headed to the office with Captain Kang.
"Are you telling me you sold an insurance certificate worth over 100 trillion won for just 25 trillion?"
"If the payout had been guaranteed, that policy could've been worth 200 trillion won, not just 100."
"That just doesn't make sense to me. Did the government pressure you into this? Even under government pressure, giving away 75 trillion won just like that? I'm going to start a media campaign—this can't stand."
Captain Kang was clearly agitated.
Well, from a surface-level standpoint, it did look like a loss of 75 trillion won.
But the insurance policy with Lehman Brothers was on the verge of becoming worthless anyway, so in truth, I'd essentially traded trash for 25 trillion won.
"Don't escalate this. I came out ahead on this deal. Sure, if KDB actually acquires Lehman Brothers and stabilizes it, the value of that insurance certificate will skyrocket—but even then, it doesn't matter to me."
"Why doesn't it matter?"
"Because I didn't hand over all the certificates. If Lehman gets back on its feet, the ones I've kept will go up in value. So no matter what happens, I win."
"Is that so? Then I'm relieved. If it benefits you, that's all that matters."
Loyalty-wise, no one could match Captain Kang.
That's why I trusted him with my safety—and with so many of my business operations.
"Still, it feels a little empty. The office used to be buzzing, and now it's just you and me here."
"Didn't you say Team Leader Han would be returning to Korea soon?"
"He still has a lot of work left in the States, so it won't be anytime soon. A few months, at least. Collecting money is never easy, you know?"
Team Leader Han was handling something very important.
Team Leader Han was in the middle of collecting payouts from companies that had signed insurance contracts with SAVE Investment—at least from the ones that were still capable of paying.
Even just partial payouts meant astronomical sums of money.
That's why I had no choice but to entrust the task to Team Leader Han. Dimon was also assisting him.
"He's out collecting money with Dimon? Then there's nothing to worry about. The guy used to work in the Myeongdong private loan market, after all."
"And Team Leader Han's record is no joke either. He's even collected money from Japanese yakuza-run companies."
The number of companies we'd be able to acquire hinged on how much money Han could bring in.
One U.S. auto company acquisition was already set, but any further acquisitions depended on his ability to recover funds.
"And pretty soon, a major economic crisis is going to hit. You should prepare in advance. We'll have to endure at least two to three difficult years."
"If we need to start cutting staff, I'll make the tough calls right away."
"No need for that. Just maintain your current scale. If you start running at a loss, I'll support you from behind the scenes—so don't worry too much."
"Lately, I've been realizing how grateful I am to have someone to lean on."
The company that Captain Kang ran wasn't designed to make a profit.
Its main purpose was to gather massive amounts of data, so there was no intention of shutting it down just because it wasn't making money.
"It's gotten quite late. I should be heading home now."
"Allow me to drive you. I don't get to see you often, so it'd feel wrong to just send you off like this."
I rode in the car that Captain Kang drove and headed back to the mansion.
When I walked into the house, the chief secretary was waiting for me in the living room.
"What brings you here this late, Chief?"
"I was having a conversation with the Chairman, and time just got away from me."
"Is Grandfather in his room?"
"Yes, the Chairman turned in for the night. It's already late, so I suggest greeting him in the morning."
Was he feeling tired?
He often went to bed earlier than most, so I didn't think too much of it.
But the next morning, something felt… off.
"Driver, has Grandfather already left for work?"
"Yes, he left for the office two hours ago."
I had gone to my grandfather's room to greet him, but he was already gone.
He was the epitome of a morning person, but this was unusually early—even for him.
Could something have happened?
Feeling a bit uneasy, I headed to the office earlier than usual.
I went straight to the chairman's office to see my grandfather, but the chief secretary stopped me at the door.
"You can't go in right now. He's in the middle of an important discussion."
"Even I'm not allowed in?"
"I'm sorry."
The chief secretary, who usually spoke gently, now spoke with an unusually firm tone.
Just what on earth was going on?
Confused, I returned to the vice chairman's office, and not long after, the planning director rushed in, clearly in a hurry.
"Vice Chairman! The Chairman has called for an emergency executive meeting. He said it'll take place in the main conference room in one hour."
"Is there such an urgent matter that it warrants an emergency executive meeting?"
"Not that I know of. The AIG acquisition is a huge event, of course, but not something that normally requires this level of urgency."
I couldn't begin to guess what Grandfather was thinking.
If something had happened to the company, he definitely would've consulted me.
Could the issue lie outside the company?
Pressure from the government? A major scandal?
The more I thought about it, the more tangled my thoughts became.
To clear my head, I arrived early to the conference room and took my seat.
The planning director sat beside me, just as perplexed.
Meanwhile, one by one, the CEOs of our subsidiaries began arriving.
[Vice Chairman! Congratulations! I never imagined you'd bring in a giant like AIG.]
[With you back in the company, Taewoo Group finally feels alive again.]
[You look tired. I know a great traditional medicine clinic—I'll have them prepare a tonic for you.]
The atmosphere was noticeably different than before.
Every subsidiary CEO greeted me with a smile.
Of course, many of the people who had opposed me in the past had already stepped down, so it wasn't surprising. Still, it felt good to be acknowledged by them.
Just as I finished exchanging greetings, the chief secretary entered with my grandfather.
Grandfather took his seat at the head of the table without hesitation, and the chief secretary officially began the meeting.
"Thank you all for attending this sudden executive meeting. The agenda for today concerns the retirement of Chairman Kim Tae-jung and the appointment of a new chairman."
"What are you saying?! Grandfather is retiring?!"
In public settings, I never used the word "Grandfather."
I always addressed him as "Chairman," but without realizing it, the word Grandfather slipped from my lips.
That's how shocking the chief secretary's announcement was—completely unexpected.
"How long do I need to remain in this position? All my peers have already retired and are living comfortably. I'd like to get some rest too."
"Absolutely not. You're still the anchor of Taewoo Group. Especially now that AIG, a major new subsidiary, has been added, we need your leadership more than ever."
"Did I tell you to acquire AIG? Wasn't that a decision you made entirely on your own, without consulting me?"
Was he still upset?
In the Joseon Dynasty, kings often used retirement as a threat to pressure others.
If Grandfather was trying to use this as leverage, I was more than willing to shoulder that burden.
"I'm sorry. It won't happen again."
"Tsk! A man who's about to become chairman shouldn't bow his head so easily. Chief Secretary, continue the meeting."
"Chairman Kim Tae-jung wishes for Vice Chairman Kim Min-jae to succeed him. If anyone objects, please speak now."
"I object! I'm not ready yet."
I stood up abruptly and raised my voice.
But neither Grandfather nor the chief secretary spared me a glance.
No one else in the room spoke up either, and the conference room fell into silence.
"If there are no objections, the board will vote to promote Vice Chairman Kim Min-jae to Chairman."
"Vice Chairman Kim Min-jae, don't you dare try to play games with your shareholding. If you do anything shady, I'll never see your face again."
Grandfather's sincerity came through clearly.
He wasn't angry—he truly wanted to retire.
Had I pushed him too hard?
I had been away in the U.S. for too long…
The days of hiding behind him and reaping the rewards were now over.
"I'll leave it entirely in the hands of the board."
"Of course, I won't be stepping away from the company completely. I'll remain as honorary chairman and oversee our businesses in Vietnam and Southeast Asia."
"You're going to Vietnam again ? Please, consider your age."
"So now that I'm retired, you think I'm just an old man? I can still handle that much. Don't try to stop me. I'll be heading to Vietnam as soon as this board meeting is over. That's all for today's executive meeting."
Grandfather rose from his seat and walked out.
His determined steps made it clear he wasn't accepting further arguments.
The moment he disappeared, the CEOs of the subsidiaries swarmed around me.
[Congratulations, Chairman Kim Min-jae!]
[Congratulations on your appointment as the new chairman of Taewoo Group!]
"The board vote hasn't concluded yet. It's too soon to be calling me Chairman."
That's what I said, but…
There was no chance the board would reject it.
In fact, it was highly likely the decision would be unanimous. My rise to the position of
Chairman of Taewoo Group was only a matter of time.
"I'll accept the congratulations once the board has officially voted. Director of Planning, may I speak with you privately?"
I left the executive meeting with only the Planning Director in tow.
As soon as we reached the Vice Chairman's office, I let out a deep sigh.
"Phew… Did you know anything about this, Director?"
"Not at all. It seems like something the Chairman and the Chief Secretary arranged between themselves."
"When do you think the Chairman will convene the board?"
"It could be as soon as tomorrow. You should start preparing now."
Now I understood why Grandfather hadn't wanted to see me since yesterday.
He was likely avoiding me until the board vote was finalized.
Since my appointment as Chairman was essentially a foregone conclusion, I had no choice but to start thinking about what came after.
"Being appointed Chairman at such a young age… There'll be plenty of negative scrutiny."
"I'll work with media outlets to minimize any critical coverage."
"And until the board meeting, I think it's best I don't come to the office. Please process it as vacation leave."
Showing up would only make things more complicated.
But returning to the mansion would only make the awkward atmosphere worse, so I booked a nearby hotel and unpacked my things.
"Might as well get some work done."
When my mind was in turmoil, work was the best medicine.
There was a mountain of work to do to stabilize AIG.
Most importantly, I needed to review detailed information on all AIG employees to determine who would stay—and who would be let go.