Free Web NovelIt had been a while since I visited Taesan Financial Group’s headquarters.
“Chairman Ha, long time no see.”
“Welcome, sir.”
Ha Myunghoon greeted me at the entrance of the building. fгeewebnovёl.com
“You didn’t have to come out personally...”
I looked around as I spoke.
Not only Ha Myunghoon, but every executive was lined up outside as if in formation.
“The owner of Taesan Financial is coming in person. Of course we must come greet you.”
He answered with his usual steadfast sincerity. This man really never changed.
“This way, please.”
Walking alongside him, I passed the bowing executives and entered the building.
When we reached the lobby, I noticed an employee holding an elevator for us.
Thanks to that, we rode straight up to the top floor without waiting.
“The chairman’s office looks a bit different.”
“Yes. We changed everything during the recent full renovation.”
We chatted casually as we walked into the office.
I naturally took the head seat.
Ha Myunghoon sat to my left, Manager Ma to my right.
Moments later, the secretary placed three cups of coffee on the table and left.
I lifted my cup and inhaled the aroma.
“The scent is good. Must be quality beans. Chairman Ha, your taste is always impressive.”
I spoke lightly, intending to ease the stiff atmosphere.
Ha Myunghoon followed my lead and picked up his cup.
“Do you like it? I’ll prepare some for you to take home.”
“No, you have it. I still haven’t finished the ones you gifted me last time.”
After taking a sip, I set the cup down.
“You’re a busy man, so I’ll get straight to the point. I’m here because of Heungseong Bank.”
“Heungseong Bank? Why are you suddenly interested in them?”
“Because of Yongsang Motors. I heard something interesting, so I want to look into it. Heungseong is the main creditor.”
“One moment, I’ll prepare the documents. They’ll be ready shortly.”
He hurried to press the bell on his desk and issued instructions.
Soon, people walked in carrying piles of documents.
“We prepared these just in case. We were planning to acquire Heungseong Bank ourselves. I didn’t expect them to be used like this, but I’m glad we prepared them. We also have files on the other banks—just let me know if you need them.”
After speaking, he dismissed the staff.
Then he pulled out a few files from the mountain of documents and handed them to me.
“This is an unofficial asset evaluation of Heungseong Bank. It’s based on last year’s data, so it shouldn’t differ much from the current situation.”
I accepted the documents and began reading carefully.
While I read, both Ha Myunghoon and Manager Ma remained silent.
After reviewing for quite some time, I set the file on the table.
The data was well-organized.
“It’s quite a decent bank.”
During the foreign exchange crisis, their asset soundness had been severely damaged, but nothing fatal.
Every bank had suffered back then anyway.
Heungseong had secured funds by selling its subsidiaries quickly, and, after receiving public funds, successfully normalized operations.
It was also the only bank among those receiving bailout funds to return to profitability.
Truly befitting a bank with over a century of history.
“Yes. But that’s not why we considered acquiring it.”
“Oh? There’s another ★ 𝐍𝐨𝐯𝐞𝐥𝐢𝐠𝐡𝐭 ★ reason?”
Another reason? This wasn’t mentioned in the documents.
“It’s about legitimacy.”
“Legitimacy?”
“Yes. Taesan Financial is currently number one among domestic financial companies, but we lack history. Even though we acquired Korea Exchange Bank, we still have weaker public familiarity than others. But Heungseong Bank—acquiring them would fix everything.”
Now it made sense.
Taesan had grown rapidly thanks to surviving the crisis intact, but lacked brand legacy.
“Come to think of it, Heungseong Bank was the first bank in Korea. I didn’t approach it from that angle. Its name value alone is enormous.”
Buying the legitimacy Heungseong held... quite interesting.
Hanshin Bank likely wanted it for the same reason.
And, truthfully, Taesan used a similar strategy.
During the Korea Exchange Bank acquisition, Taesan Bank had effectively reverse-merged into Exchange Bank.
As a result, Taesan inherited Exchange Bank’s bank code.
“It’s a bank that’s operated for over a hundred years. The amount of customer data and brand image it’s built is unmatched. If we managed to merge with it, Taesan would gain that legacy instantly. We ended up shelving the plan, but it still feels like a regret.”
Shelved? Considering how extensively they prepared, they retreated surprisingly easily.
“Because of Hanshin Bank?”
“Yes. They’re more desperate than we are. After speaking with the Taesan Bank president, we decided that stepping aside this time is better.”
Indeed, MOFIA’s influence must have played a large role in pushing Hanshin to acquire Heungseong.
“Still, if you really wanted to join the acquisition race, nothing could stop you. Even MOFIA wouldn’t dare oppose you.”
Eva had all their weaknesses in her grip, controlling MOFIA like puppets.
They feared her.
With Eva’s support—or even with just mine—they could be easily blocked.
As I looked at him, Ha Myunghoon smiled softly.
“We believe it’s time to focus more on overseas markets than domestic ones. Interfering in a merger MOFIA is leading wouldn’t benefit either side.”
“Hm.”
If he judged so, then that was that. I nodded and returned to the real topic.
“Understood. I trust your judgment. You’ve handled everything well so far. Now, let’s talk about Yongsang Motors. I want Taesan Bank to acquire Heungseong Bank’s Yongsang Motors debt.”
“Is there a particular reason? There are better ways.”
He questioned the directive.
I suddenly remembered how he used to obey my grandfather without a single doubt.
He was far more human now. Much better this way.
“The President wants to push through the sale. I’m thinking of helping. If Taesan becomes the main creditor, I can manage the sale however I like. Begin negotiations and acquire the debt.”
He understood immediately.
He nodded and asked about the acquisition price.
“You want me to negotiate the price? Since the government is pushing the sale, they won’t hand it over cheap.”
I shook my head.
Unless a buyer for Yongsang Motors appeared, Heungseong would hesitate to demand a high price.
“Heungseong ultimately needs to clear bad assets before merging with Hanshin Bank. They won’t force a premium sale. Tell the Taesan Bank president to pressure MOFIA. You already stepped aside for them—if they can’t handle something this small, they don’t deserve their positions. No—if they refuse to sell the debt, tell them Taesan will enter the acquisition competition.”
MOFIA had almost certainly taken money from the Zainichi Koreans who owned Hanshin Bank.
If Taesan threatened to join the acquisition race, they would never sit still.
They’d move heaven and earth to deliver the debt at a cheap price.
“I’ll do that.”
After finishing business, we exchanged light conversation while I looked around.
Then I spotted my grandfather’s portrait hanging on the wall and let out a small laugh.
Seeing my reaction, both Ha Myunghoon and Manager Ma looked toward the photo.
“Seeing my grandfather’s picture up there brings back a lot. It makes me happy, but also makes me wish he were alive to see how far Taesan has come...”
A complicated mix of emotions welled up, and my voice trailed.
Ha Myunghoon immediately responded.
“Even if I step down one day, that photo will remain here. Taesan Financial began with the Chairman.”
“I’d like that very much.”
As long as my grandfather’s name continued to live on, that was enough.
“I’ll get going. I’ll trust you with the rest.”
When I rose from my seat, he stood as well.
“Are you leaving already?”
“You’re a busy man. If I keep you here, it’s just rude. More importantly, when are we going to eat those noodles?”
He looked visibly flustered.
As he hesitated, I softened my tone.
“It’s time for you to settle down too, Chairman. I’m looking forward to it. Let’s talk again when I return from China.”
“You’re going to China?”
“Yes. I need to attend Hu Jintao’s inauguration ceremony. Before that, I’m thinking of visiting the companies I invested in.”
“Understood. I’ll have everything handled by the time you return.”
Despite my attempts to stop him, he escorted me all the way to the entrance.
He stood steadfastly until my car disappeared from view.
“Chairman Ha really hasn’t changed at all.”
Watching him shrink to a dot in the rearview mirror, I spoke.
Manager Ma turned back toward me.
“...It’s just his nature. By the way, I think we’ll be hearing good news soon.”
“Oh? So things are progressing.”
“My older brother is so stiff that my sister is at her limit. She said she was the one who asked to live together first.”
“Hah. That’s so like Chairman Ha.”
A loud laugh burst out of me. Manager Ma smiled faintly as well.
* * *
A few days later.
I arrived at Hangzhou’s Xiaoshan International Airport.
“It’s definitely nice, probably because it was only recently built.”
While Manager Ma handled immigration, I looked around the airport.
“You can head out now.”
He returned after completing all the procedures.
We got into the prepared car and drove toward our destination.
About an hour later, we arrived at Alibaba’s headquarters.
“Oh. It’s grown a lot.”
The building visible through the window was enormous.
The first time I met Jack Ma, it was in a shabby apartment. These changes were surreal.
But Jack Ma himself had not changed.
As soon as the car stopped, he personally opened my door to greet me.
“Welcome, sir.”
“Long time no see, Jack.”
I stepped out of the car and pulled him into a hug.
He still dressed plainly, but confidence radiated from his face.
Jack Ma, Tsai Chongxin, and all eighteen co-founders had come out to greet me.
After greeting them all, we headed straight to the top floor.
A large conference room awaited us.
“Please take this seat, sir.”
Jack guided me to the central seat.
“It’s good to see you after your success. Honestly, I didn’t expect it to happen this fast. Congratulations.”
He responded quickly.
“We owe it all to your investment.”
“No matter how much money you pour into a business, some simply won’t succeed. Alibaba grew because of your own abilities.”
“Thank you.”
After the formalities, Jack signaled with his eyes to a woman in the corner.
She rose and began the report.
It was the first investment report I’d heard in three years.
“Hello. I’m Daisan, giving today’s investment report.”
I picked up the documents in front of me and followed along.
After a concise explanation, she returned to her seat.
“You’ve escaped the deficit and finally returned to profitability.”
“Yes. We first escaped the red in 2001, and last year we recorded full profit.”
“Hm... But your retained earnings are far too low. You can’t launch any new business at this level.”
Even with profits, they still lacked a proper revenue model.
“Yes. That’s why we need more investment. eBay is entering the Chinese market soon. We need to launch new ventures before they settle in.”
A new investment... I set the documents down and looked at Jack.
“We need to enter C2C e-commerce. Before eBay secures a foothold in China, we must claim the space.”
Alibaba’s current business was B2B—supporting transactions between companies.
But that alone couldn’t generate sustainable revenue.
Eventually, they would need to pivot to C2C—connecting consumers directly.
“Is anyone willing to invest?”
“Masayoshi Son has proposed an investment. But due to the conditions set when you first invested, we have not entered any negotiations. You said you would have priority for any additional investment.”
Satisfied, I let a smile rise.
I wasn’t letting dirty money touch what was mine.
“So, how much do you need?”
