Episode 15: Chaebol Third Generations (1)
I sat with Hyung-nim Yongjae in the back seat and asked on our way to Sogong-dong.
“Hyung-nim, what kind of gathering is today exactly?”
At my question, Hyung-nim Yongjae smirked and said,
“There’s a girl named Suyeon, the eldest daughter of Taesik-hyung, the chairman of ST. She’s going to study abroad in America this time. It’s a gathering of third-gens who’ve known each other since childhood, doubling as a farewell party. Honestly, my age is a bit awkward, so I don’t really attend these days. I’m only eight years apart from Taesik-hyung, Suyeon's father, you know? To Suyeon, I’m more like an uncle than an oppa. Still, I thought of you and said I’d attend. When I said I’d come, Yeongil from Mirae Motors and Jinsu from New World said they’d come too. It’s a gathering attended only by direct descendants from Mirae, NG, ST, Hanyeong, Daehwa, and New World, so there’s no better stage for your debut.”
“The attendees must vary widely in age?”
“They do. The star of today, Suyeon, is on the younger side. Born in ’86. Jinsu from New World is my age. Yeongil from Mirae Motors is two years younger than me. Are Hyeseon and Huiseon coming from NG? Hyeseon was born in ’78, and Huiseon is Chairman Gu’s late child, born in ’88, so she’ll be the youngest at today’s gathering. From Hanyeong, Huijin is ’76 and Jinwoo is ’78. The ones close to your age are Yeongu and Yeongmo from Daehwa Group. They’re a bit younger than you, born in ’82 and ’84, but hmm… how should I put it… they’re a bit much.”
Hyung-nim Yongjae had a somewhat displeased expression. Well, those two brothers really were a bit much.
“How should I say it? They’re a bit overbearing. You could say they’re very typical third-generation chaebol. They’re respectful within the top ten groups, but they tend to look down on those outside the so-called top ten.”
If you’re outside the top ten groups, they look down on you… Wasn’t Daehwa currently ranked 9th in the business world? This isn’t some kids’ game; it’s practically ‘Everyone kneel before me!’ Our Hanguk Jeonseon is currently ranked 30th, so they’ll definitely look down on us.
“Chairman Kim was so busy that he spoiled them too much. You’ve heard, right? Chairman Kim also took office as chairman of Daehwa Group at the young age of twenty-seven. So you can imagine how busy and fiercely he must have lived. So in a way it’s understandable, but…….
Well, if they act out of line toward you in front of me, I won’t let it slide, so don’t worry.”
“Haha, Hyung-nim, surely you’re not worried I’ll be picked on by kids younger than me and start crying?”
“If they dare act rudely toward my dongsaeng in front of me, I cannot tolerate it. It’s no different from disrespecting me. Remember this: since I’ve acknowledged you as my younger brother, you must not be disrespected anywhere. That is the value of I Yongjae. Anyway, take this chance to broaden your network too. You should have been attending these gatherings regularly from the start. Usually, most companies ranked up to 40th in the business world are invited.”
“Father originally planned to have me take business lessons and build these kinds of networks after I returned from studying abroad.”
“Do you think networks are built that easily? You build them naturally by growing up together from a young age. Time is something that can’t be bought with money. Of course, you don’t need to worry. Time can’t be bought with money, but my name alone is more than enough to buy it, with change to spare.”
As expected of Hyung-nim’s confidence and self-assurance! How reassuring. Then I’ll just board Hyung-nim’s bus and go along.
While exchanging words with Hyung-nim Yongjae, the car had already arrived at the Latte Hotel in Sogong-dong.
When Manager Jang quickly opened the car door, Hyung-nim and I got out.
The hotel manager was waiting out front in person.
“Executive Director, it is an honor to have you visit our Latte Hotel. The president is currently away on business, so I have come to greet you in his stead. I ask for your understanding.”
“Ah~ as you know, Manager, today is just a light meeting with acquaintances. There was no need to go to such trouble.”
“Thank you. I will escort you to the Sapphire Hall. This way.”
The manager stole a quick glance at me standing beside Hyung-nim Yongjae but did not speak to me separately.
Upon arriving at the Sapphire Hall following the manager, two staff members waiting by the door bowed deeply and quickly opened the door.
Inside the hall, several people were already gathered, exchanging pleasantries in a warm, harmonious atmosphere.
Were those smiling faces genuine, or were they meticulously crafted masks?
A group of people spotted Hyung-nim Yongjae walking at the front and rushed over, waving their hands.
“Yongjae~ over here, over here! Why are you so late? Do you know how hard it’s been for an old geezer like me to be stuck among these youngsters? When I heard you were coming, I thought some strange wind had blown and came out, only to be left here all by myself.”
As Jeong Jinsu of New World bantered and chided Hyung-nim Yongjae, the man next to him, Jeong Yeongil, the crown prince of Mirae Motors, smiled and said,
“Jinsu-hyung, from what I saw earlier, you were getting along swimmingly with the young kids? Could it be you were actually hoping Yongjae-hyung would come late?”
“At my age, I can’t even talk to kids these days! Don’t you know about the generation gap? The generation gap!”
As Jeong Jinsu and Jeong Yeongil bickered, all of today’s attendees crowded around until the surroundings were packed.
So this is the aura of the Saseong Group crown prince who reigns over Korea!
Hyung-nim Yongjae patted Jeong Jinsu and Jeong Yeongil on the shoulders once, then approached a woman dressed nicely in a pretty two-tone pantsuit and greeted her.
“Suyeon, how have you been?”
“Of course. I’m so grateful for all the attention from my unnis and oppas.”
“Yes, I studied abroad twice myself, in Japan and the US, but living in a foreign land is no easy task. In Korea, you’re a third-generation chaebol that everyone finds difficult, but in America, you’re just a rich person of color. Only slightly better off than a person of color without money. It’ll be very different from Korea in many ways.”
“Yes, I’ve heard that a lot.”
“Yes, so make as many friends as possible and definitely find a hobby. Having a peer group means people won’t mess with you easily, and having peace of mind helps you study well too. Have a good time studying abroad, and give Minyeong my regards in New York.”
“Yes, thank you. I’ll meet up with Minyeong-eonni as soon as I arrive in New York.”
Hmm… Is I Minyeong not in contact even with her oppa, Hyung-nim Yongjae, as well as her parents?
Knowing Hyung-nim Yongjae’s personality, he must have treated his younger sibling well.
Just how deep is the rift with her family to cause this…….
Having finished greeting Chae Suyeon, Hyung-nim Yongjae immediately introduced me to the other third-generation chaebols.
“Hey~ would you look over here? This friend here is Im Seho, the new owner of Hanguk Jeonseon. He’s the eldest son of Chairman Im Il-u, who passed away this March. Twenty-three years old. I talked with him a few times, and he’s so sharp for his age and we get along so well that I’ve decided to take him as my sworn younger brother. It’s not empty words—I truly think of him as a real dongsaeng, so all of you treat him well too. He’s still a bit young, so I’d appreciate it if you all helped him out and looked after him in the future.”
Finally, Hyung-nim Yongjae had officially declared me his sworn younger brother at a gathering where the major third-generations of the top ten conglomerates were all assembled.
For the time being, the title of “younger brother of I Yongjae, the crown prince of Saseong, ranked first in the business world,” would carry more weight than the title of “owner of Hanguk Jeonseon, ranked 30th.”
Perhaps shocked by Hyung-nim Yongjae’s sudden declaration, a momentary silence swept through the hall.
Everyone either seemed confused about whether they had heard correctly, or deeply immersed in thoughts about the impact this matter would have.
The first to break free from the shock was Jeong Jinsu.
Though questions still remained in his eyes, Jeong Jinsu approached me first and offered a handshake.
“Ah… you said Im Seho, right? I am Jeong Jinsu, Executive Director in charge of Strategic Planning at New World. Yongjae and I are relatives and the same age, so we’ve been close since childhood. If you’re Yongjae’s dongsaeng, you’re basically my dongsaeng too. From now on, just call me hyung. Let’s have a drink together first. Since we’re on the topic, are we on for today?”
“Jinsu-hyung, if you swoop in like that on a kid you just met today, you’ll fluster him. Seho must have a schedule now that he’s the owner of Hanguk Jeonseon, so let’s all set a date and meet up for things like that, shall we?”
Having calmed Jeong Jinsu down, Jeong Yeongil examined me with interest and offered a handshake.
“Hello? I’m Jeong Yeongil. I’m the Chief of the Corporate Planning Headquarters at Mirae Motors. This is the first time I’ve seen Yongjae-hyung declare someone his sworn younger brother. As Jinsu-hyung said earlier, since you’re Yongjae-hyung’s dongsaeng, we’ll regard you as our dongsaeng too, so if you need anything, don’t hesitate to contact me. Here, take my business card.”
Jeong Yeongil handed me his business card. Seeing this, Jeong Jinsu hurriedly bustled his secretary to bring his business card.
Jeong Yeongil… as the crown prince of Mirae Motors, a global automotive company, he was renowned as one of the most competent among the chaebol third-gens.
It is said that Chairman Jeong Hanpyo, the founder of Mirae Group, frequently told those around him when he saw young Jeong Yeongil that “that kid is the real deal and will take on a major position someday,” and cherished him greatly.
Having dined at the same table with his grandfather, father, and uncles since a very young age and received business lessons together, one could imagine the level of expectations placed upon him.
Since he was the successor of Mirae Group, which contended for the top or second spot in the business world rankings, he was often compared to Hyung-nim Yongjae. Unfortunately, both now and for the foreseeable future, the evaluations of Jeong Yeongil were better than those of Hyung-nim Yongjae.
“Thank you, Yeongil-hyung. I’ll contact you soon.”
“Here, here! My business card! Ahaha, I didn’t think I’d need business cards here so I left them in the car.”
Jeong Jinsu, who had rushed his secretary to retrieve his business card, also handed me his card.
“Thank you, Jinsu-hyung. Let’s have a drink somewhere nice later.”
“Yes, yes! I’ll show you the world of us hyungs, so look forward to it.”
Once the greetings with the two eldest were finished, the other third-gens also approached to greet me.
“Hello? I’m Gu Hyeseon, the eldest daughter of Chairman Gu Jaegyu of NG Group. This is my dongsaeng Huiseon. Nice to meet you. I came today to see Suyeon off and ended up meeting a special person? It’s surprising enough that Yongjae-oppa has a sworn younger brother, but for that person to be the eldest son of Hanguk Jeonseon, who had been veiled until now… If there are gatherings like this in the future, come out often. If we hang out together and get close, it’s a good thing for everyone.”
“Yes, actually I was too young all this time, and I recently returned from the military. I’ll attend often from now on. But who is that gentleman next to you?”
Beside the sisters Hyeseon and Huiseon stood a tall, handsome young man with glasses. If my memory was correct, it was Gu Hyeonmo!
At my question, Gu Hyeseon glanced at Gu Hyeonmo with a slightly complicated and unsettled expression, then introduced him.
“Yes, he’s the eldest son of my youngest uncle, so my cousin. He hasn’t attended these gatherings often, so I brought him along today to introduce him to others.”
“Hello? I’m Gu Hyeonmo. Nice to meet you.”
Ah… so Gu Hyeonmo was in the same position as me.
Gu Hyeonmo would soon be adopted as the heir of Chairman Gu Jaegyu, who had no sons, and become the successor of NG Group.
That must be why Gu Hyeseon’s expression was so complicated. Because she couldn’t succeed her father simply for being a woman, and had to hand it over to her cousin.
It seemed the talks of adoption were still only circulating within the family.
Gu Hyeonmo also hadn’t frequently attended chaebol gatherings because he was from a collateral line.
Since he would soon ascend as the successor of NG, he was probably trying to become acquainted with the other chaebol third-gens before then.
He was three years apart from me in age, and I heard his personality was very amiable.
He was much better than those two brothers from Daehwa over there looking at me as if they found me distasteful.
Yes, let’s get along well! He seemed a bit out of place at today’s gathering, so I should snatch up this undervalued blue-chip stock that others don’t know about!
“Nice to meet you. I’m Im Seho. May I call you Hyeonmo-hyung?”