"I'll be going now. Take care of yourself."
The meeting with Chairman Jang ended quickly.
It seemed my grandfather had really just wanted to boast about me—after a single cup of tea, he stood up to leave.
"Min-jae, what was your real intention in bringing up Wall Street with Chairman Jang? Surely, you weren't seriously offering to help him?"
"Grandpa, what do you think it would take for Tae-woo Group to become the number one conglomerate in Korea?"
"I don't know why you're asking all of a sudden, but the answer is simple: steady growth. If we follow my plan, we'll reach second place in two years, and within ten years, we'll surpass Hyunjae Group."
My grandfather's plan was half right and half wrong.
Tae-woo Group would indeed climb to the number two spot in two years.
But it would last only for a fleeting moment—soon after, the group would be torn apart and cease to exist.
"If Hyunjae Group remains as strong as it is now, it won't take just ten years—it could take twenty or more for us to surpass them."
"Are you saying this from the perspective of an economic research director?"
"Yes. Because as much as Tae-woo grows, Hyunjae will grow just as much."
"Go on."
"Hyunjae Group needs to fracture for you to achieve your goal more quickly."
The fragmentation of Hyunjae Group.
It was a historical inevitability.
Even if I did nothing, Hyunjae Group would splinter into several pieces, and its ranking would plummet.
"Are you saying that debt will accelerate Hyunjae Group's division?"
"Exactly. I may be your only heir, but—"
"Chairman Jang, on the other hand, has plenty of children. Eight sons and three daughters, if I recall correctly."
"So what happens if Hyunjae Group splits into eleven pieces?"
"...That would certainly work in our favor. But Chairman Jang isn't that naive. He'll pass down the largest share to his eldest son and distribute smaller companies to the rest."
Primogeniture.
It wasn't just a Korean tradition rooted in Confucianism.
Even in the U.S. and Europe, many corporations adhered to the practice of passing businesses to the eldest son, believing it to be the best way to preserve their legacy.
"Of course, he'll want to hand the company to his eldest. But that won't be so easy—especially if legal disputes arise. Even if he leaves a will, there's no guarantee the eldest son will inherit everything cleanly."
"I see your point, but how exactly do succession issues tie into debt?"
"To appease the other children, he'll need money. And that money will likely come from loans. But if he takes on debt and distributes the subsidiaries among his children, what will happen to Hyunjae Group?"
"They'll be left with an enormous financial burden."
Imagine a scenario where Chairman Jang gives his children both money and business units.
Even if he does, the parent company will still have to shoulder all the accumulated debt.
"Once Chairman Jang secures loans, he'll likely acquire stable companies through mergers and acquisitions, then distribute them among his children. But do you think every second-generation heir is capable of running a company?"
"It's true that many second-generation chaebols struggle in management. But you have to consider the possibility that some might actually succeed."
"We'll just have to wait and see. No need to overthink things—nothing drastic is going to happen immediately anyway."
"You underestimate Chairman Jang's decisiveness. The moment you mentioned Wall Street, he might have already sent people to the U.S. You may come to regret today's conversation."
"I have no regrets. Even if Hyunjae Group secures massive loans and successfully manages them, it doesn't matter. I have full confidence that I can make Tae-woo Group the number one conglomerate with my own hands."
My grandfather fell silent.
He simply looked at me with a worried expression.
I wasn't sure who was supposed to be worrying about whom.
Instead of fretting over his grandson's confidence, he should be worrying about his own unrelenting ambition.
***
A few days later.
I confidently stepped into the Tae-woo Electronics building.
Vice President Woo Sung-il, seemingly eager to prove his loyalty, had gathered all the employees in formation to welcome me.
"Everyone is busy. Why are they all standing here? Send them back to their workstations."
"But it's your first day as president—they should at least see your face."
Woo Sung-il escorted me through the entrance.
As I stepped into the private elevator, the sound of the employees' applause echoed behind me.
"Congratulations on your appointment as the president of Tae-woo Electronics."
"I'm not sure if it's something to celebrate. I felt more at ease as the head of the research lab. This role feels a bit more… restrictive."
"You'll have to get used to it quickly—you're bound to rise to the chairman's seat soon enough."
Did he climb to the vice president's position purely through flattery?
Every word out of his mouth was dripping with it.
"I want you to handle the existing product divisions. My main focus will be ramping up InoPhone production."
"Understood. I'll make sure everything runs smoothly."
"Have you found a solution to the production bottleneck?"
"We're planning to repurpose three of our small appliance factories into InoPhone production facilities. If necessary, we're also considering constructing a new manufacturing plant."
The supply shortage was growing worse by the day.
All existing inventory had been completely sold out.
Products coming off the assembly line were being loaded directly onto transport trucks instead of being stored in warehouses.
"Don't try to meet every demand. Just focus on distributing the available stock efficiently."
"Tae-woo Electronics' retail stores and international buyers are all desperate for more units. If we don't fulfill their orders, won't that cause major issues?"
At this moment, increasing production wasn't an option.
But that wasn't necessarily a bad thing.
Scarcity.
When supply is low, value naturally rises.
Of course, if a product becomes too scarce, it risks being abandoned by the market.
However, as long as we maintained a controlled supply, InoPhone's value could actually increase.
"Over time, InoPhone sales will gradually decline. If we rush into building new factories now, it could backfire in the long run. For now, focus on maximizing output from our existing facilities."
"I'll do my best to meet demand with our current resources."
"But don't compromise on quality. Any defective units must be refunded or replaced immediately."
I delegated most of the work to the vice president.
Some people might have expected bold reforms or revolutionary changes from me as the new president.
But I had no intention of spoon-feeding them innovation.
Instead, I was going to build a system where innovation could be served on its own plate.
"Also, there will be a major personnel reshuffle. Some employees may complain, so I need you to manage the transition smoothly."
"Who would dare oppose the president's orders? Leave it to me. But when you say 'major,' how large of a reshuffle are we talking about?"
"How many employees does Tae-woo Electronics currently have?"
"Approximately 12,000 employees."
Tae-woo Electronics was a sizable company.
As the third-largest electronics firm after Samjin and CL Electronics, its workforce was naturally quite large.
"How many of them work in office roles?"
"Including administrative staff, researchers, and the development team, it's close to 1,500."
"Then we might be relocating around 500 employees. Possibly more."
"That many?"
"President Park Jin-hoon made a complete mess of personnel management. Employees should be placed in departments that match their skills and work alongside colleagues they collaborate well with."
"That may be true, but..."
The vice president trailed off.
But I had a good idea of what he wanted to say.
"How do you even know which employees to reassign?"
That was likely what he was thinking.
However, I had the ability to review personal records in detail.
And I fully intended to examine each of the 1,500 employees to carefully restructure the organization.
"We'll start the reassignments no later than next week. Be prepared."
"Understood."
The vice president left with a noticeably heavy gait.
Only then did I open the employee roster and begin reviewing their profiles.
It was no easy task.
I carefully analyzed each individual's skills and tendencies, organizing everything into an Excel file.
It was like assembling a puzzle—pairing and unpairing employees to form the best team structures.
"Well, well. I knew I'd find someone like this."
After reviewing about half of the list, I stumbled upon something particularly interesting.
Each employee's profile included their name, age, and department. Most were simply listed under a specific Tae-woo Electronics division.
But this one employee stood out.
[Department: Tae-woo Electronics, Development Team 3 / Huaiten Electronics Business Division]
They were registered under two separate departments.
Like any corporation, Tae-woo Electronics strictly prohibited dual employment.
If this person was officially listed under two companies, that could only mean one thing—industrial espionage.
Of course, I couldn't just accuse them without solid proof.
To dig deeper, I called a team leader at SAVE Investments.
"Do you know anything about a company called Huaiten Electronics?"
[They're a Chinese company. Lately, they've been causing quite a stir on Wall Street.]
"What's the reason?"
[They're blatantly engaging in industrial espionage. They're even bold enough to cold-call foreign firms and ask for internal company secrets.]
"Surely they're not getting away with that?"
[Of course not. They're already entangled in multiple lawsuits. I doubt they'll last more than a few years before collapsing.]
Huaiten Electronics wasn't a company I remembered from my past.
Most likely, it had gone bankrupt due to legal troubles, which explained why it hadn't left any lasting impression on me.
Even if they were doomed to fail, I couldn't just sit back and allow one of their spies to operate within my company.
"Send me everything you have on Huaiten Electronics."
[I'll gather the information and send it to you. Ah! Also, Dimon reached out. He wants to meet you.]
"Already? I suppose I should make time for a trip to the U.S."
So, the seeds of discord were already being sown.
Having Dimon on my side would certainly make executing my plans much easier.
For now, he was still the second-in-command at Travelers Financial, but I knew he would one day become the head of the world's leading financial corporation.
However, that time hadn't come yet.
I turned my attention back to tracking down the industrial spy.
After ending my call with the team leader, I immediately dialed Captain Kang.
"I need you to investigate someone for me."
[Perfect timing. Work's been slow lately—I was getting bored.]
"I'll send you the details. Look into their bank accounts, assets, and who they've been meeting. I want a full report."
[Got it. I'll even find out how many pairs of underwear they own.]
Since this was an internal company matter, I could have mobilized the audit team.
Tae-woo Electronics had its own independent audit department, and as president, I had the authority to deploy them.
But I lacked concrete evidence.
If I started my tenure by immediately launching an audit, it would send shockwaves through the company.
With a major personnel shake-up already causing enough unrest, I didn't want to add fuel to the fire.
Captain Kang was a much better option.
Besides, he could uncover more information than the audit team ever could.
Unlike the auditors, who had to follow company regulations and legal constraints, Captain Kang's team operated with no such limitations.