Golden Spoon Investment Portfolio - Chapter 413

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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413. Whether it’s 5 billion won or 10 billion won, it doesn’t matter

Three young men sat around the conference table in the office with dark expressions, surrounded by scattered papers and a mug of cold coffee.

“Future Computer filed for bankruptcy yesterday.”

Seo Hun-taek, president of Seum Technology, spoke in a gloomy voice that hung heavy in the room.
The dark circles beneath his eyes and disheveled hair seemed to mirror the strain of their difficult business situation.
Oh Hap-su, a director and development manager who had been his classmate at university, asked with a bewildered expression.

“Then what happens to the payment for the goods we delivered last month?”

Han Seong-yeol, the finance director sitting across from him, let out a heavy sigh that seemed to shake the very ground.

“We won’t receive a single won.”

Seum Technology was a venture company founded by three friends who had graduated together from Seoul National University’s Computer Science Department in 1984.

“What! No, we’re talking about over 2 billion won here. We shouldn’t be sitting around like this—we need to go to their company right now and take whatever assets we can find!”

Oh Hap-su cried out in shock, and Han Seong-yeol shook his head.

“It’s useless. I already went there, and their president sold off all the inventory and office equipment before disappearing. There’s nothing left.”
“How could this happen…”

Oh Hap-su, who had just raised his voice, spoke with a look of despair.

“Then what happens to us?”

A heavy silence fell over the table.
Seo Hun-taek, sitting in the middle, remained silent with a hardened expression.
After a moment, Han Seong-yeol pushed his horn-rimmed glasses up with his finger and spoke.

“You know that investors have withdrawn all their money because of the IMF crisis, leaving us with depleted funds.”
“….”
“We were barely holding on, hoping for the delivery payments due at the end of the month. Now that’s fallen through, and we won’t even be able to pay our employees’ salaries in a week.”

Even without that, since mid-year the cash flow had been sluggish, and we’d frequently fallen behind on employee salaries by several days.
When Han Seong-yeol mentioned they might not be able to pay at all, Oh Hap-su spoke with a grave expression.

“What if we take out an emergency bank loan?”
“I already looked into it. They all rejected us.”

Han Seong-yeol shook his head, his face turning bitter.

“I even considered pulling emergency funds from the Myeongdong Private Loan Market, but they turned me away there too.”
“Sigh….”

Oh Hap-su’s shoulders sagged.

“Even the major conglomerates are collapsing left and right. There’s no way money will come back to small operations like ours.”

It was a bleak statement, but it was the reality.
Han Seong-yeol looked at his two friends and delivered the decisive words.

“If things continue like this, we’ll have no choice but to declare bankruptcy.”
“Hmm….”
“Damn it! This can’t be happening.”

Sighs and groans erupted from the other two men.

“Isn’t there any way to overcome this crisis?”

Seo Hun-taek, sitting with his arms crossed, asked with a serious tone.
They’d built this company from nothing, and he couldn’t let it collapse like this.
Oh Hap-su beside him looked on with hopeful eyes, but Han Seong-yeol answered in a defeated voice.

“The only way is to find a new investor… but who would invest in a venture in a situation like this?”

Seo Hun-taek and Oh Hap-su could offer no response, their expressions growing somber.
When they first came together with shared purpose to establish the venture, they’d believed their ideas and technology would change the world.
They’d worked through countless nights developing products and labored without holidays as naturally as breathing.
Now, just as the fruits of their efforts were beginning to show, reality proved merciless.
Revolutionary ideas and outstanding technology were utterly powerless against the massive tsunami of the foreign exchange crisis that had engulfed South Korea.

“Can we… keep holding on?”

The two men couldn’t answer readily, their faces uncertain as Oh Hap-su hesitantly spoke.
Seo Hun-taek, the president, had long ago mortgaged the apartment where he currently lived to secure operating funds. He racked his brain trying to find a way through this predicament, but no matter how hard he thought, a solution remained elusive.
Han Seong-yeol, who handled finances, could only sigh repeatedly, his frustration mounting.
In the oppressive silence, all three men found their thoughts circling back to the same agonizing question: should they abandon their dream?
How long the silence stretched, none could say.
A female secretary wearing a gray work jacket knocked and slipped through the door.

“I apologize for interrupting the meeting.”

Seo Hun-taek lifted his head, unable to hide his stern expression.

“What is it?”
“There’s a phone call for you, sir.”

The female secretary spoke carefully, gauging his reaction.

“From where?”
“They say it’s from Daeheung Venture Capital.”

Seo Hun-taek tilted his head in confusion and looked at Han Seong-yeol.

“Do we have any connection with Daeheung Venture Capital?”
“No. We don’t.”

Han Seong-yeol also seemed puzzled about why Daeheung Venture Capital would be calling.

“Isn’t that the company that invested in Digital Wave, the one that struck it big with MP3?”
“That’s right.”

Han Seong-yeol answered as Oh Hap-su interjected with the question.
During the IMF crisis when everyone struggled, Digital Wave had received backing from Daeheung Venture Capital, developed MP3 players, and achieved tremendous success exporting not only domestically but to the United States as well—making them the envy of every venture company.
Oh Hap-su looked at his two friends with hope flickering across his face and spoke.

“Could it be that they want to invest in us like they did with Digital Wave?”

Then Han Seong-yeol, known for his coldest judgment and the one handling finances, countered as if the suggestion were absurd.

“How would they know to do that when we haven’t even sent them an investment proposal?”

But Oh Hap-su refused to abandon hope, continuing to speak with unwavering optimism.

“Digital Wave approached Daeheung Venture Capital first, didn’t they?”
“You’re actually believing such an absurd rumor.”

Han Seong-yeol let out a dismissive snort.
He was deliberately being more cynical to avoid the sting of disappointment if his hopes were dashed.
At that moment, Seo Hun-taek interjected, cutting short their conversation.

“We’ll know once we take the call.”

He then glanced toward the Female Secretary standing by the door and spoke.

“Put them through.”
“Yes.”

The Female Secretary gave a brief reply, then closed the door and left.

Ring, ring.

Moments later, the phone began to ring. Seo Hun-taek rose from his seat and walked toward the desk at the far end of the room. Though the odds seemed slim, he found himself hoping that Oh Hap-su’s story might somehow prove true—that a miracle might actually unfold. He picked up the receiver.
I picked up the receiver, thinking that while the possibility was slim, I hoped a miracle would happen just as Oh Hap-su had said.

I’m Yu Hyun-seok, Head of Department at Daeheung Venture Capital. Are you perhaps President Seo Hun-taek of Seum Technology?

President Seo Hun-taek was startled and answered in surprise, having never expected a call from a high-ranking department head, let alone a deputy or manager.

[It’s a pleasure to speak with you. I apologize for calling so suddenly.]
“Not at all.”
No.

Since it was a subsidiary of a large conglomerate and a place that was quite aggressive in venture investments, President Seo Hun-taek instinctively took a humble stance.

“Please do.”
[We’re interested in investing in Seum Technology. Would you be open to receiving our investment?]
“…!”
“…!”

Seo Hun-taek froze in shock, his entire body going rigid.
When he didn’t respond, Yu Hyun-seok’s voice came through the receiver with a note of concern.

[Hello? Can you hear me?]
“Ah!”

Seo Hun-taek snapped back to attention and frantically gripped the receiver.

“Yes, yes! I can hear you.”
[If you’re interested in receiving investment, I’d like to meet and discuss the details. How does that sound?]

Seo Hun-taek tried his best to hide his excitement, but his trembling voice betrayed him as he asked the question.
He was being as cautious as possible, careful not to offend the other party.

“What… what amount are you thinking of…?”
[We’re looking at around one billion won for now. Of course, depending on the negotiations, it could increase.]

Yu Hyun-seok answered without the slightest hesitation.
Seo Hun-taek gripped the receiver even tighter, struggling to suppress his wildly racing heart.

“So you’re saying one billion is the minimum?”
[That’s correct.]

One billion won—when they were desperate for even ten million!
Seo Hun-taek swallowed hard without realizing it.
With one billion as the minimum and the possibility of even more investment, Seo Hun-taek felt as though he were dreaming.

[When would be a good time for you?]

Seo Hun-taek barely suppressed the cheer rising in his throat and quickly replied.

“We’re available even tomorrow.”
[Then would it be alright if I visited your office tomorrow afternoon?]
“Of course.”
[Understood. Then let’s meet at 1 PM tomorrow.]
“Yes! I’ll see you tomorrow.”

Seo Hun-taek bowed repeatedly even though the other person couldn’t see him through the phone.
Han Seong-yeol and Oh Hap-su watched from behind with puzzled expressions, and the moment Seo Hun-taek hung up, they immediately asked.

“What did you say?”

Seo Hun-taek still stood dazed, unable to believe that Daeheung Venture Capital had offered to invest first.
Then he slowly looked at his friends seated around the conference table and muttered.

“This isn’t a dream, is it?”
“What’s wrong with him?”
“It’s winter—did he get heat stroke or something?”

Han Seong-yeol and Oh Hap-su each threw out a comment with furrowed brows.
Only then did Seo Hun-taek slowly grasp reality, and he couldn’t suppress the laughter bubbling up inside him—he suddenly threw both arms high above his head.

“That’s it! We’re saved now!”
“What are you talking about? Explain so we can understand.”
“Daeheung Venture Capital is going to invest in us! And it’s a billion won!”

As he announced the good news loudly, Han Seong-yeol and Oh Hap-su’s eyes widened in shock.

“Is that really true?”
“Yes. They said they’d come to the company tomorrow to discuss the details!”

The two men leaped from their seats and cheered with joy, realizing it was genuine.

“Woohoo!”
“See! I told you it might happen!”
“Yeah. Everything looked dark, but I guess there’s no such thing as just waiting to die!”

The three of them reverted to children, linking arms and bouncing around with wild shouts until the Female Secretary outside wondered what was happening and came to check.

* * *

After returning the approval document with his signature, Seok-won leaned back in his chair and spoke to Yu Hyun-seok, who stood before his desk.

“Tomorrow we’re visiting Seum Technology to tour the company and negotiate the investment, correct?”
“Yes, sir. While reviewing documents is important, seeing it firsthand gives us a better sense of the company’s actual condition.”
“You’re right. And let’s make sure we can invest as much capital as possible. Don’t forget to take equity stakes rather than just interest.”

Yu Hyun-seok glanced cautiously and asked.

“What should we set as the upper limit?”
“Whether it’s 5 billion or 10 billion won doesn’t matter. Just bring back as much equity as possible.”

Yu Hyun-seok’s expression flickered with surprise at the answer given without a moment’s hesitation, but he quickly masked it.
Deep down, he questioned whether such an investment in what seemed like an insignificant small venture company was truly worthwhile, but recalling that Seok-won’s instructions had never led him astray, he nodded obediently.

“Yes, understood.”

Yu Hyun-seok tucked the approval document under his arm and gave Seok-won a respectful bow.

“Then I’ll take my leave.”
“Go ahead.”

As Yu Hyun-seok turned and left, Seok-won, now alone, broke into a wide grin, baring his teeth.

“Seum Technology… a miraculous company that would list on KOSDAQ years from now and see its stock price soar 150 times in just six months.”

If Cisco symbolized America’s dot-com bubble, Korea had Seum Technology.
It had captured massive investor interest by launching a free internet phone service that combined telecommunications and the internet—the hottest keywords in the market at the time.
Rosy hopes translated into skyrocketing stock prices, and greed soon accumulated, creating an enormous bubble.

“Of course, what awaits at the end is the bubble’s collapse and a stock price crash, but until then, I can’t miss the sweet fruits of rising stock prices.”

Seok-won’s face filled with a smile brimming with conviction.

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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