The Return of the Ruined Chaebol's Third-Generation Heir - Chapter 88

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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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The Regression of a Fallen Chaebol Heir — Chapter 88
“Have you been waiting long, sister?”
Restaurant near Yonsei University.
Han Jae-yi had arrived first and was sitting by the window when the door opened moments later, bringing in a welcome face.
“No, I just got here. Sit down.”
Lee Min-jae took the seat across from her, letting the air conditioning wash over him. He picked up the menu and immediately glanced at the prices on the back.
“This place isn’t expensive, is it?”
“I said I’m treating. Order whatever you want.”
“But still…”
“Done. Choose.”
While Lee Min-jae studied the menu, Han Jae-yi poured water and watched him.
“When does your break start?”
“Next week. I’m swamped with exams right now—literally dying.”
“That’s exactly why I called you. Your senior wanted to treat her junior to a meal.”
Lee Min-jae’s face broke into a smile.
“I wish Seon-woo could’ve been here too.”
“Ugh, are you seriously bringing up that pest even now?”
“A pest?”
“The way he talks, you’d think he’s already lived a whole lifetime by himself.”
Lee Min-jae’s expression turned serious at Han Jae-yi’s teasing.
“Sister, are things not going well between you and Seon-woo lately?”
“What?”
“You just swore at him, which is unusual for you.”
“Hey, hey. I was joking. Just joking.”
Only then did Lee Min-jae’s face brighten.
“Actually, I even called Seon-woo earlier, but you know how it is—the top student at Korean University is swamped with exams too.”
“I guess so… Seon-woo’s been like that since high school, no, actually…”
Lee Min-jae paused thoughtfully before continuing with an intrigued expression.
“He changed completely at some point.”
“What do you mean?”
“I was in the same class as him freshman and sophomore year. He was quiet back then. He was smart, but not the kind of person you’d notice.”
Han Jae-yi listened intently.
“Not the kind you’d notice?”
“Yeah. Something bad happened to Seon-woo, you know?”
He seemed to be talking about Seon-woo’s father passing away.
“He was out of school for a few days, and when he came back, he was a completely different person. Like a 180-degree turn. He got really serious about studying, and suddenly he asked me to bring him into the stock club. How do I put it? He became incredibly proactive, that’s the best way to describe it.”
Han Jae-yi listened carefully. Stories about Seon-woo’s school days were new to her.
To Han Jae-yi, Seon-woo was brilliant, capable of execution, and someone with a perspective different from others. She’d never really believed the talk that chaebol blood made a difference, but watching Seon-woo had made her somewhat convinced.
“That’s a positive thing, right?”
“Absolutely. Seon-woo’s amazing. I didn’t know it at first, but looking at him now, I realize he would’ve done well even without that background.”
While they talked about Seon-woo, their food arrived and they began eating.
“How are things with you these days?”
Han Jae-yi asked between bites.
“What do you mean?”
“Just… how are you doing lately?”
Lee Min-jae set down his spoon with a bitter smile.
“Sister, what’s going on? You suddenly wanted to treat me to dinner.”
“What’s going on? Can’t your senior treat her junior to a meal?”
“Oh, no, that’s not what I meant…”
“I know. I’m joking. But I’m genuinely curious. How’s the job hunt going?”
Lee Min-jae’s expression tensed slightly.
“To be honest… it’s not going well.”
“Since Future Electronics?”
“Yeah. After Future Electronics rejected me, I’ve been applying other places too.”
He paused.
“I’ve been rejected three times now. Yesterday was the third.”
Han Jae-yi said nothing.
“It’s not like they’re all rejecting me at the document review stage. Some go to interviews. But every interview, they ask the same thing: do you have internship experience? When I say no, the whole atmosphere changes.”
“Because you don’t have internship experience?”
“Yeah. Everyone else seems to have it. Finance especially. I’m the only one without it.”
These days, even short-term summer internships required prior experience.
It didn’t make sense to her, but somehow people had experience, and those people got chosen.
“You got hired right after graduation. I’m honestly jealous.”
Han Jae-yi didn’t answer.
Where she’d gone right after graduation was a company Seon-woo had built. It was less like getting hired and more like joining, something she couldn’t mention aloud.
“Let’s just eat first. We can talk after.”
In truth, this meeting hadn’t been entirely her idea.
A few days ago, Seon-woo had said something to her.
‘Senior, could you reach out to Min-jae? We’ve got an internship position opening up.’
So that’s what he meant about needing someone. Han Jae-yi didn’t ask questions. Why Min-jae, what the job was—Seon-woo always had reasons for how he placed people.
“Min-jae.”
“Yes?”
“I’ve got an internship position for you.”
Lee Min-jae’s spoon stopped.
“A company I know recently started a new investment firm. The CEO is from Wall Street. Korean-American. They’re looking for one intern, but they need someone who speaks Korean.”
Lee Min-jae set his spoon down.
“I recommended you.”
“Really, sister?”
“Do I joke about things like this?”
“No, it’s not that… Wall Street is pretty impressive, isn’t it?”
“Yeah. They’re setting up a Korean subsidiary and starting Asia-focused investments. It’s still small, though. Not like a big corporate internship.”
“I don’t mind that at all.”
Lee Min-jae’s voice changed.
“Can I… can I really do this?”
“I’m the one recommending you.”
“That’s exactly why I’m asking. If I mess up even a little, it could reflect badly on you.”
Han Jae-yi laughed loudly at that.
“Hey, if I thought you were the type to mess up, I wouldn’t have recommended you in the first place. I’m recommending you because I trust you, Min-jae.”
Lee Min-jae bowed his head at those words, staying that way for a long moment.
When he looked up, his eyes were red.
“Thank you, sister. Really, thank you.”
“If you’re grateful, then do well. My reputation’s on the line too.”
“Of course. I’ll work hard. When do I start?”
“You’ll have an interview next week. Then you start right when your break begins. You’ll get the details once you’re there.”
“An interview? Oh, sure. Of course. Should I prepare something? Maybe rewrite my resume…”
“Bring your resume, and read up on the shipping market. Just get a sense of the current state of global shipping. That should be enough.”
“Shipping?”
“Yeah. That’s their area of interest.”
“Got it. I’ll look into it.”
Lee Min-jae took a sip of water and continued.
“Sister, I’m really grateful for today. I’ll definitely treat you next time. Once I get hired.”
“Sure. Once you’re hired, take me somewhere expensive.”
“And Seon-woo too.”
“Yeah, invite Seon-woo.”
After that, the meal passed with laughter, and they stepped outside when finished.
“Thank you for the meal, sister. That was delicious.”
“Wasn’t it? Let’s come back again next time.”
“Sure, I should head out. I have an exam this afternoon.”
“Go on.”
They exchanged farewells, and Lee Min-jae turned to leave, then paused to look back.
“Sister, I’m going to work hard. Really.”
Han Jae-yi smiled and waved.

* * *
“Is this the place?”
Yeouido. Small-to-Medium Office Building, 5th Floor.
The glass door read “DK Capital.”
Lee Min-jae checked the nameplate once more and adjusted the envelope holding his resume. His hands were damp.
“Okay… let’s do this, Min-jae.”
He gave himself a pep talk and opened the door.
Four desks, one conference table. It was smaller than he’d expected.
Just as Han Jae-yi had said, it was still a small operation. There was no grand corporate lobby. The office was everything.
Two people were sitting inside.
One was dressed in a full suit; the other looked younger than expected.
The older-looking man stood first.
“Lee Min-jae?”
“Hello. I’m Lee Min-jae. I was referred here and came for the interview.”
“Yes, I’m Jung Tae-sung. Come in.”
He bowed and stepped inside.
Jung Tae-sung pointed to a chair by the conference table.
The man opposite didn’t stand but simply watched Lee Min-jae.
“I’m Danny Kim. Make yourself comfortable.”
This was the Wall Street CEO Han Jae-yi had mentioned.
He looked younger than expected.
Lee Min-jae sat and pulled his resume from the envelope, which Jung Tae-sung accepted and passed to Danny.
Jung Tae-sung began with basic questions as he reviewed the resume.
Major, year in school, areas of interest.
Lee Min-jae steadied himself and answered clearly.
Danny simply listened, flipping through the pages.
“Your resume mentions a stock club.”
As the back-and-forth continued, Danny interjected.
“What have you done with it?”
“In high school, I competed in a national Mock Investment Competition. We put together a portfolio and ran it for a month. We won first place.”
“First place?”
Danny looked up from the resume at Lee Min-jae.
“What was the return rate?”
“42 percent.”
42 percent in a month as a high schooler.
Mock investing wasn’t the same as trading live, but 42 percent was 42 percent.
“Impressive.”
Danny set the resume down on the table.
“Lee Min-jae.”
Danny fixed him with an unwavering gaze, and Lee Min-jae swallowed hard.
“Do you know what the current state of the global shipping market is?”
This was the hint Han Jae-yi had given him. He’d done the research she’d asked, for a full week.
He’d read every article he could find.
“It’s not good.”
Lee Min-jae straightened his posture.
“Global trade volumes are falling, which means container shipping volumes are declining and freight rates are in the basement. Charter rates have collapsed too, so even owning a ship is a cost burden at this point.”
Danny tilted his head slightly. He seemed to be considering whether to dig deeper.
“What about the BDI?”
The Baltic Dry Index is a maritime transport cost indicator for bulk cargo published by the Baltic Exchange in London.
“It recently crossed 4,000. It bottomed out at around 700 late last year and has rebounded so far this year.”
“Then the shipping market is improving, isn’t it?”
Lee Min-jae paused to think before speaking.
“The BDI is a bulk shipping index, sir.”
Danny’s hand stopped.
“The bulk market is recovering because of Chinese iron ore demand, but the container market is still in the basement. Bulk and container are different markets even though they’re both shipping, so I don’t think you can say the overall shipping market has improved just by looking at the BDI.”
A college student distinguishing between bulk and container shipping.
Jung Tae-sung glanced up. Seon-woo had said the candidate was capable and thorough, but the answers suggested something more.
Danny grinned and continued his questions.
“So if the market is like this, would anyone be interested in buying shipping assets right now?”
“I think it would be difficult to do so.”
Lee Min-jae gathered his thoughts before answering.
“If freight rates are in the basement, ships don’t generate revenue even when you own them. There are plenty of people who want to sell, but not many who want to buy.”
“What do you think our company does?”
“Something like an investment firm started by a Wall Street CEO, I think…”
“That’s too simple. We’re going to invest in Distressed Assets. At least for now.”
He meant buying up assets that have lost value as the market crashes, then reselling them during recovery. These were people who wanted to buy when everyone else wanted to sell.
Danny laughed.
“Plenty of people want to sell, but nobody wants to buy. What does that mean for us?”
Lee Min-jae’s mind raced.
Plenty want to sell. Nobody wants to buy.
And this company buys assets like that.
“It means it’s a Buyer’s Market.”
Danny glanced at Jung Tae-sung. Jung nodded slightly.
A college student coming up with that answer?
“Good. That’s correct. We’ll be securing assets in this Buyer’s Market. One last question for you.”
Danny leaned forward.
“Why do you want to come work here?”
Lee Min-jae thought for a moment.
“To be honest, the person who referred me believed I could do well here, so I came.”
He paused.
“But while researching the shipping market, I realized something. A company that tries to enter a market when everyone else is trying to get out is a place where I’d learn a lot.”
Danny nodded as he looked at Lee Min-jae.
“When does your break start?”
“Next week.”
“Then come in next Monday at nine in the morning.”
Lee Min-jae blinked.
“Is that… a pass?”
“It’s an internship, an internship. Don’t be so nervous. We’ll pay 300, and since you’re a junior, we’re hiring you for the summer break period.”
Lee Min-jae stood up. He bowed. A deep bow.
“Thank you. I’ll work hard.”
“See you Monday.”
The interview ended, and Lee Min-jae opened the glass door and left.
“He’s decent.”
Danny leaned back in his chair.
“Yes.”
“That’s all you’ve got?”
“What do you mean?”
“Anything else you’d evaluate?”
“You said he passed, so that should be enough, shouldn’t it?”
Danny let out a hollow laugh at Jung Tae-sung’s response.
“You really know how to make people feel good. Now I understand why Seon-woo trusts Director Jung. Let’s grab some food and come back to prepare for the next interview.”

* * *
“He seemed fine. I hired him right on the spot.”
Ribbon Capital Office. Danny and Jung Tae-sung were present.
“What was he like?”
“42 percent, he said. A high school Mock Investment Competition. 42 percent in a month.”
Danny tapped the table with his finger.
“Mock investing is different from live trading, but 42 percent means the kid’s got a feel for it.”
“That was actually mine. We did that competition together.”
“What?”
Danny’s eyes went wide with surprise.
“The mock competition. I did it with Director Han Jae-yi.”
Danny let out a hollow laugh.
“Man, that explains everything. Looks like he had the right instinct from back then. You, Seon-woo.”
“I didn’t do it alone. Min-jae’s smart too, so he’ll do well.”
Danny nodded before something occurred to him and he opened his mouth.
“But here’s the thing.”
Danny leaned forward.
“When I mentioned the BDI, he distinguished between bulk and container. Said they’re different markets even in shipping, and you can’t judge the whole market by the BDI alone. That came out of a college student’s mouth.”
It wasn’t surprising.
Min-jae was the type who dug deep once he got into something.
“He even said Buyer’s Market. I led him, but he reached the conclusion himself.”
“What did Director Jung think?”
Jung Tae-sung nodded.
“It was clear he’d prepared thoroughly.”
“I had him start next Monday.”
“He’ll do well. The quality of his output varies depending on how you utilize him.”
Once the discussion about Lee Min-jae ended, Jung Tae-sung set a stack of documents on the table.
“I’ve organized the Offer Trader list.”
Earlier, I’d instructed him to narrow down the list of Offer Traders for approaching Seonjin Trading Company.
“I selected six with shipping connections, and three of them have transaction history with Seonjin Trading Company.”
Danny accepted the list and began flipping through it.
“This one looks good. Dongyang Trading Company. The CEO’s been in the industry for 30 years and has direct connections with the operational staff at Seonjin Trading Company’s shipping division.”
“Yes. They have a track record of brokering volumes.”
“30 years in the industry means there’s nothing he doesn’t know.”
I nodded at Danny’s remark.
“I think this is the right choice as well.”
I said this while looking at Danny.
“Don’t bring up Seonjin directly. Just say you’re interested in Korean shipping assets and you’d seriously consider them at the right price. The industry is tight-knit—word about Seonjin will come up on its own.”
“Understood. They’ll get what I’m saying without me spelling it out.”
“Good. Let’s proceed with this, then.”
With the logistics sorted out, we stood and went our separate ways to handle our respective tasks.

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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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