Golden Spoon Investment Portfolio - Chapter 508

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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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508. I’ll make sure we recover every last penny of the embezzled funds.

Crossing the Mapo Bridge into Yeouido, a towering skyscraper caught my eye—its glass walls gleaming golden in the morning sunlight, standing defiantly among the drab concrete buildings surrounding it.
It was the 63 Building, Seoul’s iconic landmark.
As a side note, the reason the 63 Building—constructed as the headquarters for Minguk Life—was built with 63 floors was to surpass the “Sunshine 60” in Tokyo Ikebukuro, which had been Asia’s tallest building at the time.
Indeed, when it was completed, Minguk Life proudly introduced the 63 Building as Asia’s highest structure.
Of course, just two years later, the “One Raffles Place” was built, standing 28.2 meters taller and stealing the title of Asia’s tallest building, but regardless, it remained a meaningful architectural monument symbolizing Korea’s economic growth for years to come.
Late in the morning, smartly dressed men in suits gathered before the main entrance of the 63 Building, nervously adjusting their ties and barely concealing their anxiety.
Today was the day Seok-won, who had just acquired Minguk Life and become its new owner, was visiting the headquarters for the first time.
Kang Young-hoon glanced at Kim Do-hyung and the executives who had stepped in after Lee Jae-jung resigned following the sale’s confirmation, then leaned over and whispered to Lee Heung-bong, who stood beside him as his fellow cohort.

“Did you hear? The new chairman who acquired the company is only in his early thirties?”

Lee Heung-bong, his entry-year colleague, glanced around cautiously before responding.

“A few months ago, there was all that buzz about a Korean becoming the world’s richest person for the first time. How could you not know?”
“To accumulate that much wealth at such a young age—even if he was born with a diamond spoon, it’s truly remarkable.”
“What was it they called him? Right, Wall Street calls him the Midas Touch because his investment instincts are so sharp.”
“Well, considering he acquired our company entirely in cash without taking on a single loan, he’s clearly no ordinary person.”

At Kang Young-hoon’s words, Lee Heung-bong’s face brightened with hope.

“The company’s been on shaky ground all year, and I’ve been so anxious I couldn’t focus on work. But now that the world’s richest man has bought us, at least I won’t have to lie awake worrying about the company going under, right?”
“That’s right.”

Kang Young-hoon nodded with hope, having endured considerable stress himself during this time.
Honestly, for rank-and-file employees like the two of them, it didn’t matter who became chairman as long as they could continue working at the company with peace of mind.
Especially in these harsh times, with unemployment soaring due to the IMF crisis, such reassurance was desperately needed.

“He’s arriving.”

At someone’s cry, all eyes turned in unison toward a single point.
A black Mercedes sedan glided smoothly forward and came to a gentle stop before the main entrance.
Seeing this, Kim Do-hyung, slender in build and wearing gold-rimmed glasses, made final adjustments to his appearance, while the executives beside him tensed visibly.
As Han Ji-sung stepped out from the passenger seat and opened the rear door, moving aside, Seok-won emerged—tall and commanding, dressed in a custom-tailored suit that fit him perfectly, his long legs extending with each stride like a model walking a runway.
Immediately, Kim Do-hyung and the senior staff members who had come to greet him bowed deeply in unison.

“Welcome, Chairman!”

Seok-won observed more than thirty men lined up on both sides offering their greetings, responding with an expressionless face and a subtle nod of acknowledgment.
As Kim Do-hyung and the executives approached, Seok-won—who had already memorized their faces from the personnel documents before arriving—extended one hand.

“You’re Kim Do-hyung, correct?”
“Y-yes, that’s right.”

Kim Do-hyung quickly grasped his hand and assumed a respectful posture.

“I appreciate the welcome, but I imagine you all have plenty of work. I’d prefer we avoid such formalities in the future.”
“Ah… yes. Understood.”

This was entirely unlike the former Chairman Shim In-yeol, who would have basked in superiority whenever all the executives came out to greet him.
He was indeed young as reported, and while he displayed no arrogance, there was an undeniable aura of commanding charisma that naturally overwhelmed those around him.
After exchanging brief handshakes with the other executives, Seok-won strode confidently through the line of rigidly standing managers.
Walking as though through an empty corridor, his unobstructed demeanor caused Kim Do-hyung and the executives to hurry after him in confusion.
Kang Young-hoon, observing from the corner of his eye, straightened his posture with an expression of admiration once the executives had vanished.

“Wow. That charisma is no joke.”
“Seriously. Even the much older executives were completely subdued.”

Lee Heung-bong also gazed in the direction Seok-won had disappeared, his face reflecting awe.
Not just the two of them, but all the managers present marveled greatly at Seok-won’s charisma, which had suppressed the executives’ momentum through atmosphere alone, without a single harsh word.
And simultaneously, hope and expectation surged within them—that with an owner like this, the company, which had suffered deep wounds to its pride through designation as a troubled financial institution and subsequent sale, could be restored to its former standing.

After taking the elevator to the upper floors, Seok-won sat on the sofa in the President’s Office—now vacant since Lee Jae-jung, the former Chairman Shim In-yeol’s aide, had resigned—alongside Kim Do-hyung and four other executives.
Originally there had been more executives, but once the acquisition was confirmed, roughly half had submitted their resignations and departed, much like Lee Jae-jung, whether by choice or circumstance.
Immediately following, those executives who had caused problems during the acquisition process or lacked competence yet clung to their positions, collecting paychecks without contribution, were pruned away.
After such a ruthless purge had swept through, Kim Do-hyung and the remaining executives sat with visibly tense expressions, their postures rigidly upright.
Seok-won, by contrast, sat at ease with one leg crossed, surveying the executives slowly before speaking.

“First, I want to commend you for maintaining your composure despite the difficult circumstances, steadying your staff, and guiding the company safely through what could have been a complete collapse.”

Seok-won continued speaking calmly, meeting the focused gazes of the executives hanging on his every word.

“Minguk Life—or rather, Blue Hole Life now. In any case, having been reborn under a new name, our priority is to shed the disgrace of being a troubled financial institution as quickly as possible, stabilize the company, and reassure our anxious customers. To that end, I intend to appoint Kim Do-hyung here as the new president. What are your thoughts?”

Everyone’s eyes widened in shock at the sudden presidential appointment.
Since Kim Do-hyung, who had been named president, had received no prior notice, even he couldn’t hide his bewilderment and stammered his words.

“Me, you mean me, sir?”

He met Kim Do-hyung’s gaze directly and spoke in a serious voice.

“Yes. Over the past twenty-plus years, you’ve contributed significantly to the company’s growth into one of the Big Three life insurance companies.”
“….”
“Moreover, I’ve heard that when Chairman Shim In-yeol was arrested for improperly using company funds to support struggling subsidiaries and embezzling hundreds of billions of won, you were the only executive who opposed it and raised the issue.”

Indeed, Kim Do-hyung couldn’t simply stand by and watch the company he’d devoted his entire life to building be destroyed. He’d personally raised concerns with the previous president and even voiced his opposition at executive meetings.
As a result, he’d been completely blacklisted by both the previous president and Chairman Shim In-yeol, enduring considerable hardship in his career.
Had the Minguk Life scandal not erupted and the parent Haecheon Group not entered court receivership, he might not even be here now.
Just when he was grateful simply to have remained with the company, an unexpected offer for the presidency had come his way, leaving Kim Do-hyung in a state of complete bewilderment.

“Your integrity is beyond question, your competence has been proven through your track record, and you have an excellent reputation within the company. I believe you’re the most qualified person to restore Blue Hole Life to normalcy.”

The other attendees, initially shocked by the announcement, soon began nodding their heads in agreement, adopting a positive stance.
They all knew Kim Do-hyung’s character and abilities, making this decision possible.

“We can trust Kim Do-hyung.”
“Indeed, there’s no one else among the remaining executives who could match him….”
“I’m in favor.”

Confirming that everyone was in agreement, Seok-won turned to Kim Do-hyung once more.

“Will you take on Blue Hole Life?”

At those words, the events of the past several years unfolded like a film in Kim Do-hyung’s mind.
From his initial employment through his rise to executive rank, he’d worked tirelessly day and night, but upon discovering the chaotic reality of how the company was being run, he’d grown deeply angry and frustrated.
He’d tried to compromise with reality for his family’s sake, but when faced with the excessive actions of Chairman Shim In-yeol and the previous president’s faction, he couldn’t remain silent and raised the issues, only to suffer all manner of persecution.
Countless emotions surged and faded in a brief moment.
He’d always carried a resignation letter in his pocket, mentally prepared to leave the company at any moment, but at this miraculous gesture of support, his heart swelled despite himself.

“….”

Composing himself emotionally, Kim Do-hyung looked at Seok-won, who waited quietly for his answer, and spoke with a slightly trembling voice.

“I may have shortcomings, but if you entrust this to me, I will do my utmost.”

Seok-won nodded at the answer he had hoped for.

“It’s reassuring to have President Kim take charge of Blue Hole Life.”

The moment he switched from calling him Executive to President, Kim Do-hyung’s face flushed slightly with color.
As Seok-won glanced around at the assembled executives, they all spoke in unison with bright expressions.

“An excellent decision, sir.”
“With President Kim—formerly Executive Kim—I’m certain we’ll achieve outstanding results.”
“Of course!”

Since Seok-won, already the owner, had made the decision and Kim Do-hyung had accepted it, there was no point in voicing opposition—it was a natural response.
After a flurry of congratulations, Seok-won lifted his teacup, took a sip of coffee, set it down, and naturally shifted the conversation.

“Fortunately, public funds have been injected and debt has decreased significantly, but if we don’t improve the weakened financial situation, it won’t be easy to restore policyholders’ trust.”

Kim Do-hyung then cautiously presented a solution he had prepared in advance.

“You’re absolutely right. That’s why we’re considering liquidating company assets, including real estate, to secure liquidity.”
“Putting assets on the market when the real estate market is as sluggish as it is now wouldn’t be a particularly good choice.”

Seok-won continued casually.

“I’ll inject 500 million dollars within a week, and you can use that for a paid-in capital increase to boost the capital base.”
“…!”

Kim Do-hyung, who had shrunk back slightly when his first suggestion didn’t receive a favorable response, widened his eyes at these words.

“Five… 500 million dollars for a paid-in capital increase?”

As the other executives stared in shock, Seok-won answered calmly.

“Yes. Since I’m not short on funds, there’s no reason to sell assets at a loss.”

Unlike Seok-won’s nonchalant demeanor, Kim Do-hyung and the executives could not close their gaping mouths.
It was remarkable enough to pull out such an enormous sum of 500 million dollars as casually as pocket change, but more shocking was that they had never seen the owner inject money like this—until now, he had only extracted company funds through various means.

‘So this is the wealth of the world’s richest man!’
‘I can truly feel that the ownership has changed.’

President Kim Do-hyung and the executives realized anew what kind of person Seok-won was, and their hearts swelled with reassurance.

“If you demonstrate such improvements in financial condition, policyholders will feel at ease and continue to maintain their contracts.”

President Kim Do-hyung then spoke with an excited voice.

“Of course. Once word spreads that the Eldorado Fund is injecting a massive sum for a paid-in capital increase, we’ll be able to dispel the policyholders’ anxieties in one stroke.”
“Then let’s handle that matter accordingly, but there’s another urgent issue we need to address first.”
“What would that be?”
“Recovering the company funds that the detained Chairman Shim In-yeol personally embezzled.”

President Kim Do-hyung and the executives widened their eyes.
It was a matter no one had dared to mention, as none of them believed it was even possible.

“The Prosecution is conducting an investigation, but Chairman Shim has siphoned off hundreds of billions of won in company funds over the years. We can’t simply let that slide.”

Hearing the subdued tone laced with subtle pressure, President Kim Do-hyung and the executives all held their breath in unison.

“By any means necessary, recover every last won of the embezzled funds without exception.”

Seok-won issued the directive with unwavering resolve.
He had no intention whatsoever of allowing someone who had ruined the company, forced taxpayers to cover the losses, received a laughably lenient punishment, and then squirreled away the stolen money to live comfortably in hiding.

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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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