Third-Generation Chaebol

The conglomerate chairmen were men of immense caution.

And how could they not be? To rise to their current positions, they had endured countless trials and crises.

But there was one simple way to move such men.

I had to take the lead myself.

If I pretended to accept America's proposal first, a few of the chairmen would no doubt follow.

"What kind of sites are we talking about in this land swap?"

"We're not aiming for property in the Seoul metropolitan area. Rather, we're considering golf course–sized plots in Gyeongsang or Jeolla provinces."

"Would warehouse property also be acceptable? We have a large warehouse site near Yangsan."

I feigned genuine interest.

The truth was, land in Yongsan was far too precious to overlook.

So I set aside thoughts of relations with China, if only for the moment, and played my role convincingly.

"Chairman Kim, you already built your new headquarters and the Finance Hub Tower in Seoul, yet you're still eyeing more land there? This time you should yield and let our Charlotte Group take it."

"I've heard Charlotte Group already holds quite a few promising sites."

Ambassador Jun Kang's words made Chairman Jin Ho-gyun of Charlotte Group smile.

Charlotte Group had handed over its new headquarters site to us previously, which had left them hungering for prime real estate.

And now, with the risk of another prized parcel slipping into Taewoo Group's hands, it was only natural that Jin would feel compelled to step up.

"There's a fine golf course down in Sangju. The town is quiet, so there shouldn't be any major issues."

"Taewoo Group also has decent holdings in North Gyeongsang Province."

"Chairman Kim, are you truly going to push for this? This time you should step aside!"

I deliberately provoked Chairman Jin a little.

But his pushback was stronger than I expected. Just as I began to think it might be time to withdraw—

"The Hyundai Motor Group also holds good land. It's near Ulsan, so transportation access is excellent."

"Now, now, Chairman Jang! Why are you joining in as well?"

The entry of the Hyundai Motor Group.

There was a commonality between Charlotte Group and Hyundai Motor.

In the previous lifetime, both had managed to build magnificent new headquarters in Seoul.

But in this life, the land they once claimed had been snatched away by Taewoo Group.

"Just so we're clear—if you provide the THAAD site, your relationship with China could deteriorate significantly. Are you prepared for that? Please don't rush into offering land only to back out later. Take time to think carefully."

"Perhaps you should think a bit more, Chairman Kim. After all, isn't Taewoo Group the one exporting massive quantities to China?"

Do you know how to turn someone into a gullible mark at a gambling table?

If you directly urge them to keep playing, you'll only arouse suspicion.

But if you make a show of lightly discouraging them, they'll seat themselves at the table without hesitation.

That was precisely why I brought up relations with China.

It was a message wrapped in caution:

The risks are heavy. You should give up. Taewoo can handle it, so we'll proceed with the land swap.

The words struck at the pride of both chairmen.

And so I wondered—why not try jabbing a little deeper at Chairman Jang of Hyundai Motor?

"China is the biggest auto market in the world. Didn't Hyundai sell over 1.4 million cars there just last year? Your sales in China even outstripped those in the U.S. Are you truly confident you can risk that?"

"I appreciate your concern, but I'll handle it myself. Hyundai Motor Group is fully prepared to proceed with the land swap."

Now with Taewoo, Hyundai and Charlotte all stepping forward—three of the nation's top ten conglomerates—the rest of the chairmen dared not raise their hands.

Of course, they too were tempted. How could they not covet such opportunities?

But with the field dominated by such formidable groups, none of them could muster the bravery to join the fray.

"Then let us compare the sites each group has offered and make a decision accordingly."

"Chairman Kim, must you really go this far? Yield just this once. And I must also ask the same of you, Chairman Jang."

"That's exactly what I was going to say, Chairman Kim. Your greed truly knows no bounds."

The two chairmen pressed me to step aside.

This was precisely the situation I had hoped for—but of course, I couldn't simply give in so easily.

"I propose fair competition. In the end, won't the final decision rest with the White House and the Blue House anyway?"

"You really are too much. Fine then, let's see this through to the end!"

"Chairman Kim, your greed truly seems endless. Very well. Hyundai Motor is confident we can win!"

The emergency FKI meeting drew to a close.

The two furious chairmen stormed out of their seats in haste.

I rose last, and as I did, I shot Ambassador Jun Kang a subtle wink.

It was a quiet signal—that everything was proceeding exactly as we had intended.

And it also meant that the U.S. would likely end up with an even better site than we had anticipated.

After finishing the FKI meeting, I returned to the company headquarters.

The always-eager Chief Strategy Officer and President Han came to my office immediately.

"How did it go? Did you hold your own against the seasoned chairmen?"

"Thanks to Ambassador Kang's stellar performance, things went more smoothly than expected. Both Charlotte Group and Hyundai Motor were very proactive in proposing land swaps."

President Han tilted his head, surprised by the outcome.

"Both Charlotte Group and Hyundai Motor have made significant investments in the Chinese market. I don't understand why they'd be so eager to swap land."

"It just shows how deep their hunger for land goes. Especially after Taewoo Group built that spectacular new headquarters—don't you think it ate away at them even more?"

Yet President Han still couldn't accept this reasoning.

With his habit of constantly calculating gains and losses in his head, he couldn't grasp why Charlotte Group would step forward.

"I don't think it's simply over the headquarters site."

"There's a special reason for Charlotte Group. Haven't you noticed the strong Japanese product boycott in China since last year? Charlotte Group suffered significant losses."

Charlotte was both a Japanese and Korean company.

Because of that, last year it took a hit from the Japanese boycott, and next year, it would get struck again by the Hallyu Ban.

"Are they thinking of giving up the Chinese market altogether, since they've already been hurt by the boycott?"

"They may have decided that, having already suffered losses, a little more won't make much difference. Or perhaps they believe U.S. support could turn the tide in their favor."

"That possibility is quite slim."

"There's no need to overthink it. It's not our problem."

And it truly wasn't Taewoo Group's concern.

Whether Charlotte collapsed in China or not—it was none of our business.

On top of that, it was possible that Hyundai Motor's offer, not Charlotte's, would be accepted in the end.

"I've been getting too hung up on other groups' affairs. But if the THAAD deployment really happens, we'll face some serious losses as well."

"That's when China will start its own boycott of Korean products. We'll be treated just like the Japanese firms."

"Industries like autos and electronics are bound to take the biggest hits."

Taewoo Group exported products worldwide.

North America was its largest market, followed by China as the second largest.

If sales in China were to decline, it was clear that Taewoo's revenues would take a significant hit.

"We will suffer losses too, but the damage should be less severe than that faced by other Korean conglomerates."

"Why do you say that?"

"I'm not sure if this counts as an advantage, but in the case of the Apple Car and Apple electronic products, China won't be able to impose sanctions. This is because the issue would escalate from a dispute with Korea to a problem with the United States."

Taewoo was collaborating with several foreign companies.

Because of this, Taewoo's logo was often displayed alongside foreign company logos.

Many foreign consumers were unaware that products bearing the Taewoo logo were actually Korean-made.

And China's love for Apple was unstoppable.

From the Apple Car to Apple TVs and other electronics, these products were recognized more as Apple's than Taewoo's.

Therefore, Taewoo was expected to suffer minimal damage in this regard.

"Products developed in collaboration should be largely unaffected. But Taewoo's original products will take a hit."

"To minimize the damage, I am considering visiting China personally to speak with high-ranking officials. Of course, this won't completely prevent losses, but it's worth trying to reduce the impact."

China had grown into the world's second-largest market.

It was a completely different country from what it had been ten years ago.

Because of this, Korea could not simply abandon the Chinese market now.

Until new markets were fully developed, buying time was essential.

"Korea's industrial dependence on China is worrisome. If the Hallyu Ban is fully enforced, Korea's economic growth will decline sharply."

"We must quickly develop new markets before it comes to that. At least sales are increasing in North America, Europe, and Southeast Asia, so Taewoo should be able to manage."

"...Is the Honorary Chairman's residence in Southeast Asia related to this? Truly the Honorary Chairman. I had assumed he lived there simply for leisure, but it seems he is investing time in developing new markets!"

"Isn't it like saying the omen is better than the dream?"

President Han mistakenly believed that because the grandfather was living in Southeast Asia, it meant active market development.

But the idea wasn't entirely wrong.

Thanks to the grandfather's residence there, Taewoo had invested heavily in markets including Vietnam and other Southeast Asian countries.

"This THAAD deployment will mark the true beginning of the trade war between the U.S. and China. We have about two years until THAAD is fully deployed, so we must prepare thoroughly before then to absorb the coming shocks."

"China has already become the factory of the world. Even the U.S. must feel some burden in waging a trade war with China, right?"

"America won't shy away from a struggle of power. Since China continues to show provocative moves, the U.S. can't just stand by."

China had kept a low profile until now.

But since Xi Jinping took power, things changed.

Now, with the "China Dream" policy, it was attempting to make China the center of the world.

The U.S. wasn't going to watch that quietly.

It was determined to suppress China through the trade war.

Up until just before my return, the trade war between the U.S. and China kept escalating.

"When two whales fight, the shrimp like Korea get crushed."

"For now, Korea maintains a neutral diplomacy and profits from both the U.S. and China, but that time is running out."

"In other words, Korea will have to pick a side."

"Or Korea must grow big enough not to be a shrimp but to become a whale itself."

Taewoo Group was ultimately based in South Korea.

If Korea's situation worsened, Taewoo would inevitably suffer.

But if Taewoo grew into a massive global conglomerate, it could help support South Korea's economy.

"To become a whale from a shrimp, it has to eat a lot of food."

"Fortunately, food is abundant. Whether we become a whale or a big shrimp depends on how hard we work to consume that food."

I had already devised two plans.

One to survive the U.S.-China trade war as a shrimp, and

Another to become a whale and be one of the main players in the trade war.

Of course, I wanted to choose the latter, so I had to work even harder to grow in size.