Third-Generation Chaebol

The day of the Russian president's inauguration arrived.

Until then, I had been staying at a resort villa, so this was my first time meeting many people, and in particular, I had the chance to greet someone whose name I had heard countless times.

"I'm Minjae Kim, Vice Chairman of Taewoo Group. It's an honor to meet you."

"I'm Roman, Governor of Chukotka. I've heard a lot about you from him. I understand you have a very deep connection?"

It was a meeting with Roman, who was better known as the owner of an English football club.

He was one of Russia's oil tycoons, and now held the governor's position to aid Putin.

Ah! And Roman had not yet acquired the football club at that time, so he was not yet widely known to the public.

"It's an honor to meet you. No matter how close I may be to him, I'm sure I can't match Roman's connection."

"Don't think too hard of me. Just call me Roman, no need for formalities. How awkward would it be if comrades on the same ship acted distant?"

Roman approached more warmly than I had expected.

It must be because of the anxiety.

Putin had declared war on the oligarchs, and Roman was himself part of the oligarch class.

To survive, he betrayed the oligarchs and sided with Putin.

How anxious must he have been then?

He could hardly have good relations with the siloviki, who were Putin's loyal enforcers, nor could he escape the hatred of the oligarch faction.

"I heard you like football. If there's a chance next time, shall we watch a game together in England?"

"Oh! So you like football, too."

"Though it's a small club, I run a football team in Korea."

"We are both club owners then. It's been a long time since I met someone who shares my interests."

Is this why my grandfather runs a football club?

The distance between Roman and me shrank instantly, and we continued talking about football until just before the inauguration began.

"The ceremony is starting. Let's go together."

Guided by Roman, I moved forward.

Since he and I were seated in the front row, we caught the attention of those invited to the inauguration, including officials from Korea.

The inauguration concluded grandly.

While some officials even shed tears at President Putin's speech emphasizing a strong Russia, I felt a chilling sense of dread instead.

It was a stark realization that I had once again shaken hands with the devil.

Thinking about the wars Russia might ignite in 10 or 20 years made it clear that aligning with him was a dangerous gamble, but those concerns were for later.

"Thank you for attending today. It seems you've become good friends with Roman. I hope the two of you continue meeting often and sharing many conversations."

"We've already promised to watch a football game together."

"I'm counting on you."

Putin talked with me for a long while before moving on to others.

The envious looks from those around made the back of my head tingle.

They were the glances sent by officials from embassies and the Ministry of Foreign Affairs.

Even though I didn't purposely acknowledge them, as soon as there was an opening, a foreign ministry official hurried straight to me.

"I didn't know Taewoo Group was invited. For such a major event, you should've consulted with the government!"

"We coordinated the schedule with the Russian government."

"Is Taewoo Group now a Russian conglomerate? Of course, you should have conferred with the Korean government."

What was this?

Were they scolding me?

They surely knew I was the heir to Taewoo Group.

So was this just because I was young and they looked down on me?

"If it happens again next time, I'll be sure to consult."

"That's obviously what you should do. Take the lead on this. I noticed you seem close with important Russian figures. Please introduce me."

I was so confident that I almost responded with "Got it."

Is he a minister or something? I checked his details.

He was Vice Minister Choi Jong-min.

An elite from the Ministry of Foreign Affairs, he had risen to vice minister at the youngest age, a highly capable individual.

He was even nicknamed the "Crown Prince of the Ministry of Foreign Affairs," widely favored by the government.

The picture became clear.

He was the type of person consumed by his own pride.

Someone I didn't need to indulge or humor.

"My schedule is tight. I have to return to Korea immediately. Sorry."

"Come on, don't be so standoffish. Let's hang out together."

"Is this how you usually act? I'm a business executive, not your subordinate. Please show some respect."

"Aren't I trying to help you? Don't you know how noisy the media is lately? A few photos with government officials could help improve your image."

The media must still be attacking me.

But the Vice Minister of Foreign Affairs thinks taking photos with him would improve my image?

He was a Vice Minister who wildly overestimated himself.

"I'll be going ahead."

I gave a light nod and left.

I didn't want to waste precious time on someone like that.

***

The day of Putin's inauguration.

In the Taewoo Group chairman's office, Jang Sooyoung, president of Taewoo Construction, was having a private meeting with Chairman Kim Tae-jung.

"It's already been over 25 years since I've served you, Chairman. Are you really planning to abandon me?"

"Why would I abandon you?"

"Isn't the personnel order that Vice Chairman Minjae Kim sent to Taewoo Construction a way of telling me to resign?"

"Hmm, that's something I don't know about. It seems Minjae Kim acted on his own."

Chairman Kim Tae-jung was already aware of everything.

That his grandson had overstepped his authority by ordering personnel transfers at Taewoo Construction.

And why Jang Sooyoung had come to see him.

But he pretended not to know.

Because everything his grandson had done until now had never been wrong.

Although Jang Sooyoung was his right-hand man, if he crossed his grandson who was going to lead Taewoo Group in the future, he couldn't protect him.

"Please stop his overreach. If the vice chairman orders personnel transfers at will, what will happen to me as president? Even the staff at Taewoo Construction are already looking at me differently."

"That's not something I can fix for you. You should settle this directly with Vice Chairman Minjae Kim."

"How can you say this to me? You know very well what I have done for you."

Construction companies deal with large sums of money.

And they are optimal for creating funds whose sources are hard to trace.

That's why whenever political funds were needed, Chairman Kim Tae-jung asked President Jang Sooyoung for help.

"Are you trying to threaten me now?"

"How could I ever dare to threaten you, Chairman? I only meant to remind you of my efforts."

"Listen, how much longer do you think I have to live? Minjae will soon become the head of Taewoo Group; how could I possibly block his path?"

"Are you saying you want to kill me to save your grandson?"

"Why don't we think about a way for all of us to survive? If we all just bowed our heads a little, couldn't we all live?"

Chairman Kim Tae-jung spoke while suppressing his temper as much as possible.

Though he wanted to scold loudly, he couldn't bring himself to do so to President Jang Sooyoung, who was already deeply hurt in his heart.

"...I understand the chairman's intentions well. I will submit my resignation soon."

"Ah, but you should still talk with the vice chairman and settle this properly. If you communicate and understand each other's thoughts, you'll find an answer."

"The answer is already clear. Vice Chairman Minjae Kim wants me out of Taewoo Construction."

President Jang Sooyoung gritted his teeth.

He was holding back his anger so much that Chairman worried his molars might break.

"Don't think so extremely."

"My mind is made up. Please don't blame me too much."

Suddenly, President Jang Sooyoung bowed deeply.

Then without saying another word, he left the chairman's office.

"It seems his heart is truly wounded. I worry he might cause some kind of accident."

Chairman Kim felt the pain of losing his right-hand man.

But since that arm was already severed, he no longer tried to hold on.

Even if he tried to reattach the arm, it would no longer function properly.

***

After completing the Russia schedule, I returned to Korea.

The schedule had been so grueling that today, I headed home instead of to the office.

Of course, going home didn't mean I could rest. My grandfather was waiting for me.

"You worked hard traveling all the way to Russia."

"I brought back a lot of good news, just as much as the effort."

"Unpack your gift bundle. The news showed a pretty long shot of you shaking hands with President Putin."

I was the only Korean entrepreneur invited to the inauguration.

That didn't necessarily mean much for improving my image.

Russia right now was a country even more troubled than Korea.

"I received a very favorable proposal. They asked me to join in developing Russia's natural resources."

"That sounds like great news for Taewoo Construction."

"A large-scale construction project is about to begin. And I secured a promise of various benefits if Taewoo Motors and the electronics factories build plants in Russia."

"Natural resource development and large factories, huh. It feels less like we brought back gifts and more like we gave gifts there."

The projects were big enough to make my grandfather worry.

He seemed to feel keenly the risks of aggressive investments following the foreign exchange crisis.

"Because the Russian economy is struggling, investing now would bring even greater profit later."

"That's true, but with Taewoo Group's current financial strength, it seems difficult. And it's not attractive enough to go into debt for business."

"That's why I plan to get investment from Wall Street. If Taewoo Group, Wall Street, and the Russian government work together, wouldn't the risk be spread out?"

"Hmm, if that's the case, it sounds like a business worth challenging."

My grandfather nodded.

Then suddenly, his expression grew serious, and he let out a sigh.

"Hoo, but you did a terrible thing to President Jang Sooyoung."

"Are you referring to the personnel transfer orders? They were transfers made for the sake of Taewoo Construction."

"But you should have sufficiently consulted with President Jang. Just because you're vice chairman doesn't mean you can control subsidiary companies however you like."

"I will handle personnel changes in the other subsidiaries that way."

"…So it's true that the personnel changes targeted President Jang. Did you have to disgrace him like that and force him out?"

My grandfather looked quite displeased.

Since I had expelled the man who was once his right-hand, it was only natural that I had to bear the consequences.

"What would have happened if Taewoo Construction was left as it was? It would have been a massive burden on the group due to huge debts. President Jang should have taken responsibility and stepped down himself."

"I don't deny that Taewoo Construction survived thanks to you. But President Jang was someone who deserved respect."

"If I hadn't been promoted to vice chairman, President Jang would still be at Taewoo Construction. It was your decision to raise me to vice chairman."

My grandfather looked up at the ceiling.

Had I been too aggressive?

I needed to pause a moment here.

"I will take good care of President Jang separately. I'll arrange not only severance pay but even a subcontractor president position if he wants."

"No, that will only stir up trouble unnecessarily. Leave it be. I'll take full responsibility for President Jang's matters."

My grandfather went back into his room.

Though I felt sorry, cleansing was necessary to create a new Taewoo Group.