InkBound
patreon
CH284 | Heir
🕑 Added 2025-09-21 05:37:17 +0000 UTCA quiet restaurant in Jongno.
It was a favorite spot of the Chief Presidential Secretary, who had invited me.
The place was empty, as if every other guest had been sent away. Even then, we were guided all the way to a private room at the far end.
“Chairman Kim, you’re here! Isn’t the atmosphere of this restaurant wonderful? I only introduce it to people I truly value.”
“It’s excellent. The interior blends a classic elegance with a modern touch.”
There was no need to start a battle of wills right away.
I simply praised the restaurant casually and took my seat.
“Have you eaten yet?”
“I had something simple before coming.”
“Then just bring us drinks. Prepare the table!”
The Chief Secretary barked the order roughly.
It was clearly directed at an employee outside, but I could feel he raised his voice deliberately to put pressure on me.
Did he really think shouting would make me flinch?
Sitting in the seat of power as Chief Presidential Secretary seemed to give him overflowing confidence.
“Let’s have a light drink while we talk. It’s a fine whiskey, it’ll go down smoothly.”
“Thank you. I’ll enjoy it.”
He poured whiskey, a decent brand, though it was an odd match with the green onion pancakes set out as snacks.
Even just from his choice of alcohol, I could tell the Chief Secretary lacked refinement—and that he had the personality of someone forceful and domineering.
“Since we’ve had a drink, I’ll speak frankly. I hear you have very deep ties with the United States.”
“I did study there and spent a short time on Wall Street, so I do have some connections, but not that many.”
“Now, why would you say that? Do I really have to spell it out? Even the National Intelligence Service tried to investigate you, but the Americans pushed back. If the U.S. government is protecting someone, who would believe it if that person claimed not to have close ties with them?”
What kind of person talks like this?
I was so taken aback I couldn’t even laugh properly.
“Are you admitting that you tried to put me under surveillance? Monitoring a civilian is clearly illegal.”
“Since when is the head of a major conglomerate a civilian? And in any case, we couldn’t even carry it out. If the U.S. government blocked it, how could we proceed?”
“I won’t deny that I have acquaintances in American political circles. But hearing that you tried to monitor me is rather unpleasant.”
“You’re young, why take offense at such a trivial matter? It’s all for the good of the nation.”
I’d heard that the Chief Presidential Secretary’s power was second to none in this country.
But the way he spoke to me wasn’t just treating the head of Korea’s largest conglomerate like a subordinate—it was closer to treating me like a servant.
“Then let me ask why you wanted to meet with me in the first place.”
“Ahem. The exchange rate is running wild right now, isn’t it? It’s shot past 1,400 won, and if it rises any higher the country will suffer. We want to arrange a currency swap with the United States, so I called you here to ask for your help.”
So that was it—he had called me out to make a request.
And not just any request, but one as difficult as a currency swap.
A currency swap meant an agreement to exchange Korean won for U.S. dollars in proportion to the won’s value.
In times like this, with the exchange rate spiking, it could act like a cure-all.
The moment such an agreement was signed, the exchange rate at 1,400 won would drop by at least 10 percent.
And that wasn’t the only benefit.
A currency swap would also buoy the stock market, providing massive support to the struggling KOSPI index.
“How could a private individual possibly influence an agreement between nations? That’s far too difficult a request.”
“Of course, I’m not asking you to do it alone. The Korean government will move as well. All we ask is for a bit of support fire. Surely you can manage that much, as a citizen of the Republic of Korea?”
Well, if that counts as a talent, then his talent was this:
Every word he spoke managed to rub the other person the wrong way.
With every line from the Chief Secretary, my temper simmered.
“It’s a difficult matter. If Taewoo Group carelessly involves itself in state affairs, we could pay dearly. And even if we wanted to, it’s not something we can actually do.”
“I know what you’re after. Do you think I’d ask for this without offering something in return? They say even the head of a conglomerate is just a merchant at heart, and it seems they were right. We’ll hand one section of the Four Rivers Project to Taewoo Group—so step in for us.”
He said it like he was granting me a favor.
That, too, was deeply unpleasant.
Of course, I understood that the Blue House and the Chief Secretary were concerned with the nation’s growth and future. But this way of going about it was unacceptable.
“Taewoo Construction is already overloaded. We cannot take on any more projects.”
“Does construction get done in a day? I’m saying, subcontract it out and just take the commission.”
“Our policy at Taewoo Construction is to avoid that kind of business.”
“So what you mean is you want something else. Why talk in circles, young man? Just say it plainly. What do you want in return?”
Government backing could smooth the way for any project.
But accepting a business concession tied to political interests could become a problem the moment administrations changed.
I had to request something that would remain safe even after a regime shift. And Taewoo Group did have such needs.
“Could I ask for regulatory easing on artificial intelligence, autonomous driving, and electric vehicles?”
“Taewoo Group is interested in those areas? Well, relaxing regulations on an industry that’s already fully established would be difficult. But for fields that haven’t even begun to take off, of course it’s possible. The Blue House and the ruling party will see to it.”
The less familiar a field, the lower the level of attention it received.
The areas I mentioned weren’t at the commercialization stage yet, so they drew little public or political interest.
That was why the Chief Secretary could promise so confidently.
“I don’t know how much help I can be, but I’ll do my utmost to support the currency swap negotiations.”
“Effort alone isn’t enough. If the negotiations fail, then the promise I just made is void.”
“How large a swap are you envisioning?”
“To put out the fire, at least thirty billion dollars, don’t you think?”
Thirty billion dollars was about forty trillion won.
From the perspective of the U.S. Federal Reserve, that might not have been an astronomical amount, but it was by no means a sum to be handed out lightly in a currency swap.
“Hm, and what if the swap could be pushed up to forty billion dollars?”
“The more the better, isn’t it? If that were possible, we would give Taewoo Group our full backing.”
“Your full backing would be welcome. It’s just that Taewoo Group has plans to acquire several more large companies in the near future.”
“Ah! So you mean the government should at least not interfere with those acquisitions. That much we can certainly do. But isn’t that asking too little? The government could even adopt a big-deal policy to help you acquire companies cheaply.”
It was a very tempting offer.
But it was also a double-edged sword. Accepting something like that could easily end up cutting me as well.
“That won’t be necessary. We’re planning to acquire foreign companies, not Korean ones.”
“That’s a shame. It isn’t only foreign companies that are in trouble these days. I’d like it if you showed some interest in the Korean firms going bankrupt, too. Of course, I don’t mean to interfere with Taewoo Group’s management. It’s just a wish.”
“I’ll keep an eye on it. And I’ll do everything I can to make sure the currency swap agreement is concluded as quickly as possible.”
“I can only be grateful for that. Here, allow me to pour you another drink.”
Was it the alcohol?
Or was it because I had promised to help with the swap?
Either way, the Chief Secretary’s tone had grown much more respectful.
That didn’t mean I intended to maintain this kind of relationship going forward.
After finishing the meeting with the Chief Presidential Secretary, I headed to Captain Kang’s office.
President Han Junghoon was already there, sitting comfortably on the sofa with his tie loosened.
“Why are you hanging around here instead of going home?”
“This is where I feel most at ease. And I was curious about what you and the Chief Secretary discussed, so I waited.”
“Phew, meeting people from the political world really drains you.”
I tossed aside my suit jacket, loosened my tie, and slouched onto the sofa.
Who would ever imagine the chairman and president of Taewoo Group relaxing like this?
But we were used to it, so no one found it surprising.
“The Blue House asked me to push for a Korea–U.S. currency swap.”
“With the exchange rate in chaos and foreign investors pulling out, stocks are collapsing. No wonder the Blue House is in a frenzy.”
“They’re trying to mobilize everything they can, since a currency swap would instantly solve the problem.”
“I’ve never seen the government ask a conglomerate head to handle state business.”
“They say it happened often in my grandfather’s time. So I agreed.”
Han sat up straight.
Because arranging a currency swap was no easy task.
“Are you sure about this? You could lose the connections you’ve built so carefully with U.S. VIPs in one stroke.”
“To prevent that, we’ll have to trade favors—give and take.”
“Chairman, you don’t have to take a loss just for the government’s sake. Did they promise you anything substantial?”
“I secured regulatory easing for the projects Taewoo Group is pursuing, and a pledge that the government won’t interfere in our affairs going forward.”
“That’s all? Compared to a currency swap, that’s far too small a return.”
I motioned with my hand toward President Han, moving it up and down.
It was a gesture telling him to lie back down and relax.
“If we try to squeeze too much out of the government, it’ll only cause trouble later. Taking a small loss now is better for us in the long run. And this negotiation isn’t necessarily a bad thing for us.”
“I don’t follow. You should be lamenting our losses, but instead you’re saying it’s not all bad?”
“What I mean is, creating the impression that we owe the U.S. government isn’t such a bad thing. It could help us when the time comes to acquire an American car company.”
Han leaned back, gazing at the ceiling in thought.
Then he snapped his fingers and stood up again.
“If we step forward and announce that we want to acquire a U.S. automaker, the American government will naturally try to sell it to us at the highest price possible.”
“Exactly. But if the U.S. government itself approaches us first, wouldn’t that make the acquisition cheaper?”
“Right—since we’d owe them, the U.S. government could even demand that we take one of their car companies!”
“Of course, I can’t say for certain it’ll play out that way. But it’s a very plausible scenario.”
You could call it wishful thinking.
Still, it wasn’t such a far-fetched scenario that I could dismiss it outright. That was why I accepted the Blue House’s proposal.
