InkBound
patreon
CH273 | Heir
🕑 Added 2025-09-07 05:53:14 +0000 UTCI arrived at Captain Kang’s office before anyone else.
Until Captain Kang and Team Leader Han showed up, I quietly prepared a modest little party by myself.
Though “prepared” was a stretch—it was just a few cans of beer and my favorite snack.
“Sir! I’ve finally made it back to Korea!”
“Wow, look at you—clean haircut and everything. Back on Wall Street, you looked like you had a bird’s nest on your head every day.”
“How could I come back to my homeland looking a mess? I stopped by the best hair salon on Wall Street to clean up before flying out.”
“You’ve heard the news, I’m sure? Somehow, I ended up in the Chairman’s seat.”
Suddenly, Team Leader Han bowed his head deeply.
Then, with a solemn expression, he spoke.
“Congratulations, Chairman. From now on, I’ll call you Chairman, not CEO.”
“And I guess I should stop calling you Team Leader Han. Congratulations on becoming President Han of Taewoo Securities. Though, honestly, I’m not sure it’s something to celebrate. Going from the vast ocean of Wall Street to the narrow stream of Taewoo Securities must feel pretty suffocating.”
“You know me better than that, Chairman. If anyone can turn a stream into an ocean, it’s you. So no, I’m not worried in the slightest.”
At those words, I couldn’t help but nod.
After all, Taewoo Securities wasn’t going to remain confined to Korea—we had plans to take it to the global financial market.
“Now, how about a toast? I put together a little something.”
“Of course we should drink today. But… beer instead of champagne, I can understand. Still, ramen for a party? Isn’t that a bit much?”
“I made ramen to remind us not to lose our humble beginnings. Plus, it’s my favorite food.”
“I’m honored to be served ramen personally cooked by the Chairman.”
“Then let’s start with a cold one!”
President Han, Captain Kang, and I clinked our beer cans together.
We each chugged down an entire can in one go, then crushed the empty cans in our hands.
A bite of ramen while the chill of the beer still lingered in our mouths—
It was pure bliss. A heavenly taste that seemed to heal the painful memories from before my regression.
“Man, nothing beats ramen. For some reason, it just never tasted like this in the U.S. One bite of this and it finally hits me—I’m really back in Korea.”
“You’ve been through a lot. It must’ve been tough squeezing money out of those Wall Street tightwads.”
“It had its moments. I mean, when else would I get to see those arrogant Wall Street types bowing their heads? Still, we didn’t get as much as I’d hoped. It’s enough to stabilize AIG, but not much beyond that.”
“Once you add in the funds we got from the Korea Development Bank, it’s not that bad.”
“Wait, is it true that the KDB is actually trying to acquire Lehman Brothers? If they’re just trying to copy Taewoo Securities’ acquisition of AIG, they’re going to tear themselves apart.”
The Korea Development Bank really was aggressively pushing forward with the acquisition.
Their CEO and executive team had even flown to the U.S. themselves to negotiate, and they’d purchased some of the Lehman Brothers insurance securities we had.
“They’re going to struggle. Lehman’s debts haven’t been fully disclosed yet. Once they see the real numbers, they’ll panic and pull out.”
“You don’t think KDB’s going to come crawling back asking for their money and credit lines, do you?”
“No way—at least not if they have any shame. And even if they do, we can use it as leverage to get something else out of them. Either way, we’re in a position to benefit.”
It was like watching a fire across the river.
Except in this case, popcorn was being delivered straight to our mouths while we watched. It was the kind of show you could enjoy with a smile.
“They must not know just how ruthless Wall Street can be. David and I both went in personally and still couldn’t recover even 20% of the insurance claims.”
“Sure, we only got back 20% of the insurance money, but just hang on to those insurance securities. They’ll come in handy elsewhere.”
“You think there’s a way to use them? Unless the market recovers and the financial institutions bounce back, I don’t see how we benefit from them right now.”
“You’ll see soon enough.”
I was already drawing up another big picture.
The land where KEPCO’s headquarters was located—currently tied up and undeveloped due to regulations.
My plan was to use Wall Street firms to build a skyscraper there.
Not right away, of course. But I would move forward step by step.
“Oh, and the logistics industry has taken quite a hit from this financial crisis too, hasn’t it?”
“It’s not just logistics—most industries have suffered heavy damage.”
“Then we might be able to acquire a U.S. freight company at a bargain.”
“There’s no shortage of companies for sale. Even DHL is showing signs of withdrawing from domestic freight operations in the U.S.”
DHL, the world’s top logistics company.
They were one of the top freight operators in the U.S. as well.
But even a giant like DHL couldn’t withstand the impact of the subprime mortgage crisis.
In fact, precisely because they were so big, they suffered even greater losses.
“If DHL’s struggling, then there’s no point in even looking at the others.”
“The truth is, DHL wasn’t prepared at all for this financial crisis. They were locked in a price war with FedEx, the number one company, and lacked the financial cushion to weather the storm—so the damage hit them harder.”
“What perfect timing. That means they’ll be desperate for cash. I should try to acquire DHL’s U.S. freight division.”
“You’re planning to get into logistics now?”
That wasn’t exactly the goal.
What I needed was data—specifically, data on U.S. roads, which I could acquire through a freight company.
“Not really. I just need a freight company as a rehearsal for a future project.”
“Isn’t that a bit too expensive for just a rehearsal?”
“Isn’t this the cheapest time to buy?”
“That’s true. Since DHL is practically giving it away, we could drive a hard bargain. And we do have enough funds for the acquisition.”
Buying a freight company wouldn’t exactly be considered a major win.
It was more like a bonus service we’d be getting for free.
At least, compared to AIG or the U.S. auto companies.
“I’ll have David reach out and express our interest.”
“For something like this, we don’t even need David. Just send someone from the operations team —it’ll be an easy acquisition.”
“Still, we should at least show some courtesy. Contact David and tell him to begin negotiations with DHL.”
“David might grumble a bit. He’s already stretched thin trying to meet people around the clock, with the U.S. presidential election just around the corner.”
The U.S. presidential election was only a few months away.
But the outcome was already set in stone, so I wasn’t particularly concerned. We had already made significant investments, and it wouldn’t matter if David stepped away for a few days.
“The negotiations will be handled by the operations team. David just needs to show his face—it won’t take much of his time.”
“I’ll pass that along. Oh no! The ramen’s going to get soggy!”
We both dove into our bowls, slurping up the noodles in unison.
Only after draining the broth to the last drop did we open our mouths again.
“Congratulations once again. You’ll be able to start work tomorrow, right? We’ve prepared an extravagant inauguration ceremony for you. It’s even grander than my own chairman inauguration, so you can look forward to it.”
“Suddenly, I’m getting nervous. To think I left as a team leader and now I’m coming back as president—it still doesn’t feel real.”
“You must be excited. But don’t get too used to that feeling. It won’t last long. The aftermath of the subprime mortgage crisis will soon hit Korea too—you won’t even have time to sleep.”
Lehman Brothers hadn’t gone bankrupt yet.
That’s why the full impact hadn’t reached Asia. But the moment Lehman went under, the storm would sweep across to Korea almost instantly.
President Han knew that too. That excitement on his face faded quickly.
***
The next day.
A large banner was hung at the Taewoo Group headquarters.
[Inauguration Ceremony of Han Jung-hon, President of Taewoo Securities]
All the employees of the headquarters lined up in the lobby.
I stood among the employees, waiting for President Han Jung-hon.
“President Han Jung-hon is entering!”
At the secretary’s announcement, thunderous applause erupted.
Clap clap clap! I joined in enthusiastically as President Han finally walked into the lobby.
He was clearly struggling to maintain a poker face.
His steps were practiced—measured and deliberate—as he quickly reached right in front of me.
“Congratulations on becoming president of Taewoo Securities.”
“I will do my best not to become a burden to Taewoo Securities, the number one securities firm in Korea.”
We exchanged a light handshake.
That moment left a strong impression on everyone at the Taewoo Group headquarters.
“You should also greet the Taewoo Securities employees. Let’s have lunch together.”
“I’ll be ready on time.”
Honestly, I wanted to follow him all the way to Taewoo Securities.
I was curious how the employees would receive Han, who had returned as president after being a team leader.
But out of respect for my position as chairman, I couldn’t.
I decided to hear it directly from President Han at lunch.
After the inauguration event, I returned to the chairman’s office.
The scene still felt unfamiliar.
Because of my grandfather’s dedication, I couldn’t change the interior.
But once the new headquarters was completed and we moved, I promised myself I’d decorate the chairman’s office as I pleased.
I sat down in my chair.
“There are still so many names left.”
The AIG restructuring wasn’t over yet.
As one of the largest insurers in the U.S., there were many employees.
To separate the wheat from the chaff, I had to review detailed information on every employee and prepare lists for dismissal or promotion.
“Chairman, it’s time for your appointment with Han Jung-hon, president of Taewoo Securities.”
“Is it already that time?”
As I reviewed the detailed employee information, the morning work hours had already passed.
I sent the list I had compiled so far to Park Mandeok, the President in charge of the financial affiliates and Vice Chairman, then stepped outside.
“Have you been waiting long?”
“No, I just arrived myself.”
“Let’s head to Cheongdam-dong. I’ve reserved a restaurant.”
Of course, the dining place was Captain Kang’s restaurant.
We rode in the same car but didn’t exchange a word on the way.
Only after arriving at the restaurant and being shown to a private room did we finally start talking at the same time.
“How was the atmosphere?”
Phew! “I almost died trying to keep a straight face. It’s hard to describe the mood in one word. Employees who didn’t know me were congratulatory, but the long-tenured staff couldn’t hide their sour expressions.”
The section chiefs and above at Taewoo Securities knew President Han well.
Not just acquaintances — they had worked together, so they couldn’t simply celebrate.
How could anyone be happy when a peer or junior suddenly appears as president?
“Don’t push them too hard. It would be troublesome if all the section chiefs and deputy chiefs quit at once.”
“That won’t happen. But there’s exactly one person I do intend to push.”
“Who?”
“Section Chief Do Min-wook! I’ve been on the receiving end of his antics more times than I can count.”
Do Min-wook?
I tried to recall his detailed information.
He was neither outstanding nor incompetent — just average.
“Did he bully you?”
“I lost a girlfriend to that guy.”
“He’s married now, with kids — and you’re still holding onto an old girlfriend issue?”
“It’s a matter of male pride! Have you ever lost a girlfriend just because he outranked you? If not, you can’t understand how humiliating it is.”
So this was part of the reason Han wanted to become president of Taewoo Securities.
It might seem like a petty revenge, but everyone has their own standards.
Wishing Do Min-wook well, we started our lunch.
