Golden Spoon Investment Portfolio - Chapter 59

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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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59. What is your intention in continuously accumulating our company’s shares?

Chairman’s Office, Daeheung Group Headquarters, Mapo, Seoul.

“So you’re saying that during the market crash, you deliberately took on some of the company’s holdings and sold them to minimize losses?”

Park Tae-hong, the chairman, posed the question, and Choi Jin-woo, the president sitting on the left sofa, answered with a smile.

“That’s correct. I was puzzled myself, so I asked Park, and that’s what he told me.”
“Well, that fellow.”

Despite letting out a hollow laugh, Chairman Park Tae-hong’s expression was one of pride.

“He could have suffered significant losses, and Park himself could have been in trouble. I had no idea he was thinking so deeply about it.”
“That boy has always been thoughtful since childhood.”

Chairman Park Tae-hong subtly bragged about his second son.
Gil Seong-ho, the Chief Secretary sitting across from President Choi Jin-woo, pretended not to notice and smoothly moved the conversation along.

“If Park hadn’t sold the company’s shares in advance, we would have suffered losses exceeding one billion won during this market crash.”
“Still, he’s not shirking his duties and is doing his part without taking undeserved pay.”

He tried to sound indifferent, but he couldn’t hide the corners of his mouth twitching upward.
It was only natural—there’s no parent in the world who dislikes praising their children.

“It’s more than that. He’s been a tremendous asset to the company.”

As President Choi Jin-woo spoke with a smile, Chairman Park Tae-hong cleared his throat and composed himself.

“Well, that’s fortunate, but there’s still much he needs to learn, so please provide him with plenty of guidance, President Choi.”
“I’m not sure if my help will be needed, but I’ll do my best.”

Chairman Park Tae-hong picked up the teacup before him, took a sip of coffee, and set it back down.
Then he leaned back against the plush sofa and spoke.

“By the way, the listing process for Daheung Venture Capital is proceeding without issues, correct?”

Choi Jin-woo straightened his posture and responded to the attention directed at him.

“Yes. It appears the listing date will be finalized around the end of this year, as scheduled.”

Daheung Venture Capital was a venture capital firm established several years ago under the leadership of Chairman Park Tae-hong as part of the group’s business diversification strategy.
Unlike the initial high expectations, the investment performance had been lackluster thus far, operating at a loss and continuously draining capital.
The accumulated deficit led to a desperate measure: an initial public offering.
Chairman Park Tae-hong extended one arm, opened a wooden box on the table, and withdrew a cigarette, placing it between his lips.
Chief Secretary Gil Seong-ho, seated to his right, quickly lit his lighter and held the flame to the cigarette.
After inhaling the white smoke deeply, Chairman Park Tae-hong exhaled slowly and spoke.

“You said the IPO would bring in around ten billion won, correct?”
“The valuation hasn’t been finalized yet, but we’re projecting approximately ten billion won.”

Upon hearing this, Chairman Park Tae-hong nodded slightly, the cigarette held between his fingers.

“With that much capital, the group won’t need to provide additional funding for a while.”

Chief Secretary Gil Seong-ho interjected smoothly, continuing the conversation.

“With sufficient liquid capital secured and the performance of our invested companies gradually improving, you won’t need to concern yourself with the venture capital division for some time.”
“I certainly hope that’s the case.”

While the core textile and department store businesses continued to generate healthy profits, other subsidiaries were hemorrhaging money, erasing those gains and deepening the lines etched across Chairman Park Tae-hong’s face with each passing day.

“If we’d gone public when performance was strong, we could have raised far more capital. It’s truly unfortunate.”

As he muttered these words, smacking his lips, Chief Secretary Gil Seong-ho glanced cautiously before asking carefully.

“Should we recover a portion of the loans using the IPO proceeds?”

The Headquarters and the department store had extended nearly one hundred billion won in loans to support the loss-making Daheung Venture Capital.
Therefore, there would be no legal issue in recovering a portion of the IPO proceeds.
Chairman Park Tae-hong hesitated momentarily, his mind wavering, before shaking his head.

“If I take back the capital we’ve just secured, the company will struggle to operate properly. Then we’d end up having to inject more funds from the Headquarters anyway—why do such a thing?”
“….”
“If we were going public just to extract profits and wash our hands of it, that would be different. Let’s leave it as is.”
“My thinking was too shortsighted.”

Chief Secretary Gil Seong-ho bowed as he spoke, and Chairman Park Tae-hong turned his gaze toward President Choi Jin-woo.

“Make sure the listing proceeds without any hitches, President Choi. I’m counting on you until the very end.”
“I will do my best.”

Though the deficit was shrinking, Daheung Venture Capital’s listing had proceeded smoothly largely thanks to President Choi Jin-woo’s efforts—a man with a background as Vice Minister of Finance, given the company’s still-precarious financial condition.
After exchanging words for some time longer, President Choi Jin-woo rose from his seat first.
Chairman Park Tae-hong stubbed out his cigarette, now burned down to almost nothing, into the crystal ashtray on the table.
Then he turned his head and fixed his gaze on Chief Secretary Gil Seong-ho.

“Gil.”
“Yes, sir.”
“Before the listing, transfer half of my Daheung Venture Capital shares to my second son.”

Chief Secretary Gil Seong-ho’s eyes widened in surprise at the unexpected instruction.

“Half of the shares, sir?”
“That’s right.”

Chairman Park Tae-hong held 30% of Daheung Venture Capital, the second-largest stake after his primary subsidiary, Midopa Department Store.
If Park Seok-won received half of that—15%—he would instantly become the largest shareholder of Daheung Venture Capital.

“Looking at what he’s shown us this time and during the pound collapse, it seems my second son has a real talent for investment, wouldn’t you say?”

Chief Secretary Gil Seong-ho responded immediately upon receiving his gaze.

“Yes, sir. That’s what it appears to be to me as well.”

Chairman Park Tae-hong nodded with satisfaction, his body sinking deeper into the sofa as he spoke.

“After he gains a bit more experience, it might not be a bad idea to let him take over securities and venture capital.”

Chief Secretary Gil Seong-ho, keeping his mouth closed, could discern that Chairman Park Tae-hong intended to separate two financial subsidiaries from the group and hand them over to his second son.

“Don’t you think my second son would do well with that?”
“Given what he’s shown us so far, it certainly seems like the right fit for him.”
“Yes. When he was studying at Harvard, didn’t you mention that a famous professor who won the Nobel Prize in Economics was so fond of my second son that he regretted his return to Korea?”
“Yes. Professor Frank—a very renowned scholar in academic circles.”

After attending Seok-won’s graduation ceremony, I had spoken about Professor Frank so frequently that it was enough to make anyone’s ears ring.
However, the perceptive Chief Secretary Gil Seong-ho showed no sign of this and responded with a smiling face.

“Haha, that’s right. I felt sorry for how much he lamented the departure.”
“I see. It appears he holds your second son in very high regard.”
“The boy takes after me—sharp mind and plenty of nerve. Just look at how he boldly purchased stocks when everyone else was paralyzed with fear during the market crash, and made substantial profits from it.”

Park Jin-hyung, the executive director with bold features and a masculine appearance, bore a striking resemblance to Chairman Park Tae-hong, while the handsome Seok-won had inherited much of his maternal family’s appearance.
However, Chief Secretary Gil Seong-ho, worn down by years in corporate life, was not foolish enough to voice such observations aloud.
Chief Secretary Gil Seong-ho nodded vigorously and let out an exclamation of admiration.

“His bold and resolute manner of pushing forward certainly seems to be a perfect reflection of the Chairman.”
“Yes, exactly!”

Chairman Park Tae-hong’s face broke into a satisfied smile.

“Once we go public, transferring the shares will be complicated in various ways, so let’s finish the arrangements before that.”
“Yes. I will handle it as you direct.”

* * *

The penthouse terrace of the New York Plaza Hotel’s top floor overlooked Central Park, blanketed in vibrant green.
Seated at a table draped in pristine white linen in comfortable attire, I squinted one eye and scratched my ear with my finger—an itching sensation I couldn’t quite place.

“Who’s talking about me somewhere….”

The table was laden with aromatic coffee, freshly baked croissants, and a salad brimming with fresh fruits and vegetables.
While leisurely enjoying brunch beneath the warm sunlight, holding today’s Wall Street Journal in one hand, the doorbell to the suite rang.
Rising to my feet, I crossed the spacious and comfortable living room, elegantly appointed with an ivory leather sofa beneath its high ceiling.
Upon opening the door, I found Landon Shore standing in the hallway before the entrance, impeccably dressed in formal attire, accompanied by two unfamiliar men.
When our eyes met, Landon raised one hand and introduced the middle-aged man with a moderate build.

“This is Drew Evans, the Cisco representative I mentioned.”

Drew Evans, whose blue eyes held a faint flush across his face, gave me a quick, appraising look before extending his hand first to shake mine.

“Drew Evans.”
“Park Seok-won.”

After exchanging a light handshake, I stepped aside from the door.

“Please, come inside.”
“Thank you for having me.”

I gestured toward the sofa positioned in the center of the living room as the visitors entered the suite.

“Please have a seat on the sofa.”

Drew Evans nodded and sat down on the left side of the sofa alongside his companions.

“What would you like to drink?”
“Coffee, please.”

The lean man with dark hair sitting beside Drew Evans spoke up as well.

“I’ll have the same.”
“Then shall we all have coffee?”
“I’ll bring it right away.”

Landon Shore went to the suite’s terrace and lifted the teapot from the three-tiered trolley, pouring steaming coffee into the cups.
As an awkward silence settled over the room, Drew Evans gestured toward the man beside him and broke the quiet.

“This is Samuel Schwartz, our company’s Chief Information Officer.”
“It’s a pleasure to meet you.”
“I’ve been wanting to meet you as well, and I’m delighted we finally have the opportunity.”

Landon Shore then set the coffee in front of the three men and took a seat on the empty sofa to the right.
I observed Drew Evans, who seemed somewhat tense, and spoke in a measured tone.

“I hear you wanted to meet me.”
“Yes. I’m in New York on business, and when Landon mentioned that you were staying here, I took the liberty of asking for this meeting.”

Though I already knew the purpose through Landon, I feigned ignorance and played along.

“Then tell me—what brings you here?”

Drew Evans’s expression grew serious as he looked at me.

“I noticed you recently purchased additional shares of ours, significantly increasing your stake to 4%.”

Park Seok-won leaned back against the sofa, nodding his head with an unbothered expression.

“Indeed.”
“Do you intend to continue accumulating shares going forward?”

Park Seok-won studied the man across from him, whose face had grown rigid, before finally speaking.

“Why do you ask?”

Drew Evans, meeting his gaze, fell silent for a moment before responding in a measured tone.

“Let me be direct without further preamble.”

Drew Evans watched as Park Seok-won leisurely lifted the teacup before him to his lips.

“What is your intention in continuously acquiring our shares?”

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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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