Chapter 4: Where Is the Slush Fund?
“A slush fund? There was a separate slush fund? Well… our Group has a long history and is quite large, so Father may have prepared a considerable one. But he passed away without leaving a single word of will……. President I, do you happen to know anything about it?”
I Seongho’s pupils flickered for a moment. He’s flustered!
“Ah… yes, Chairman. The thing is… the Group’s slush fund is divided into domestic and overseas. One hundred billion won of the domestic slush fund was partly in the Chairman’s office safe, and the rest is managed by me. However, regarding the three hundred million dollars of the overseas slush fund, I was in charge of the practical work, but all related documents were personally kept by the Chairman. I have no idea where he kept them. It is an alias account, so without all the related documents, withdrawal is impossible.”
“Is that true? Three hundred million dollars is over three hundred billion won… So you’re saying we cannot find that money?”
“Yes, as the Chairman knows, when the previous Chairman passed away, the Chairman’s office safe was forcibly broken open and examined. The cash, securities, negotiable certificates of deposit, and bearer bonds inside were all recovered, but there were no overseas slush fund documents there either. We contacted all the banks, and aside from ordinary deposits, everything was clean.”
That’s right. Our entire family was present when the Chairman’s office safe was broken open, besides I Seongho. There was absolutely no way anyone could have embezzled anything.
The cash and various certificates and bonds worth sixty billion won inside were such an enormous amount that I couldn’t even keep my composure…….
It had never even crossed my mind that there could be another slush fund.
So the remaining forty billion won was being managed directly by I Seongho.
Since I had clearly said I heard about the slush fund from my father, he wouldn’t have been able to lie about the amount.
“This is not a small sum; the amount is too large—what should we do? Is there anyone else who might know its whereabouts? Perhaps among Father’s close associates?”
Mother asked, looking at I Seongho anxiously with a voice full of worry.
That’s right, the amount is too large. I absolutely cannot give up on it.
“Well… the thing is, after the previous Chairman inherited the slush fund, he already laundered it completely once. None of the founder Chairman’s close associates are still alive, and including the laundering, I personally handled all the final practical work for the overseas slush fund.”
I Seongho, do you really not know? Before the regression, you clearly spoke as if you had gotten your hands on all that money, didn’t you?
How long has it been since Father passed away? Surely you aren’t already scheming?
Even though I brought it up immediately after regressing?
“Chairman, I am truly ashamed. The domestic slush fund had many uses, so the previous Chairman and I managed it directly, but the overseas slush fund was literally the Group’s last bastion. We never took it out to use, and the previous Chairman personally managed the documents. To think he would pass away without leaving a single word of will…….”
“Ah… how could this happen… Man proposes, Heaven disposes… It is not any single person’s fault that things turned out this way. Still, if you think of anything that might serve as a clue in the future, please let me know immediately. It is important.”
“Yes, Chairman.”
Mother was greatly disappointed, and I Seongho outwardly appeared regretful.
Could he really not know?
Come to think of it, if it was three hundred million dollars, the last bastion as I Seongho said, then no matter how much Father trusted him, he would not have entrusted it carelessly.
The amount in the safe that Father personally kept was only sixty billion won. Would he have given three hundred million dollars to I Seongho? Impossible!
Alright… let’s assume that I Seongho really does not know the whereabouts of the overseas slush fund right now.
He did not know now but found it later? How? There must have been some clue……
Then, I suddenly recalled I Seongho’s words from before the regression.
[After the Chairman died, I became certain after seeing that neither you nor the Madam said a word about the slush fund for a year. Ah! This brat does not know about the slush fund’s existence at all! He did not hear anything from the former Chairman! The ecstasy of that moment was truly…….]
Why did he feel ecstasy only after a year? Did he really wait a whole year just to check if I knew about the slush fund’s existence?
Would that confirmation take a year? If I had known about the slush fund’s existence, I would have asked right away. By not revealing the slush fund’s existence to me and Mother first, I Seongho was already harboring other intentions.
The reason he dragged on time was that he truly did not know the slush fund’s whereabouts, and he must have found out only after a year!
A year, a year, a year… Ah!
At that moment, a single word flashed through my mind!
Safe deposit box!
A safe deposit box is kept for the first two years, but after that, it must be renewed in person every year.
If the slush fund documents had been in a safe deposit box somewhere, and after one year it could not be renewed, and the notification went to I Seongho instead of me?
Then it explains why I Seongho was able to seize the slush fund only after a year.
When Father passed away, notifications were sent to all financial institutions to confirm the estate for inheritance, yet there had been no contact. This meant there was a high possibility it was a bank with relatively poor central management.
Rather than a commercial bank, it could be a regional agricultural cooperative or a Saemaul Geumgo that operates independently by region…….
Yes, I’ll have to look into this separately. It is a matter to handle with the highest priority.
Still, I ought to play along with the atmosphere for now, shouldn’t I?
Forcibly reining in my excited heart, I spoke in a gloomy voice.
“Truly a regrettable matter. Three hundred million dollars at a time like this would have been such a great help… Heaven is truly indifferent…….”
At my words, the Chairman’s office was enveloped in silence for a while.
“Uncle, Mother, there is something I would like to ask of you.”
To shift the heavy atmosphere and, by the way, to take care of something important for me, I spoke up again.
“A request? Seho, whatever you ask is okay. Haha.”
“I need to return to school, but I still have to take management courses, handle inheritance tax issues, and keep an eye on company trends. So I need someone to help me by my side. Of course, I know it is not right for me, who does not yet have an official position in the company, to do this, but may I ask this of you?”
“What is not right about it? You are only a student without a title, but you are our company’s largest shareholder. Of course we should do that for you. Yes… you have a point. You need someone to teach you how the company works from now on and handle various matters for you. That way, it will be easier to adapt to the company immediately after you graduate next year.”
“Yes, I think a Manager from the Management Strategy Team who can teach me about overall company matters would be a great help. I am going to join the Management Strategy Team next year anyway, so if we build our teamwork in advance, it will be convenient for both of us.”
Yes, it is an important matter. Because it is about preemptively securing the person who will become my closest aide.
Manager Kim Yunsik, who is currently in the Management Strategy Team.
He was the talent who served as my chief secretary before the regression.
How am I so sure that I Seongho will attach Manager Kim Yunsik to me?
There are only two Managers in the Management Strategy Team right now, and the other one is a friend that I Seongho’s closest confidant always keeps with him.
If he follows me around, he cannot do company work, so of course he will assign Manager Kim Yunsik. Of course, he will probably try to win Manager Kim Yunsik over beforehand to keep an eye on me, won’t he?
“Alright, I understand. I will assign one Manager from the Management Strategy Team right away. Let’s see… yes, a fellow named Kim Yunsik is very capable. I will contact him. I will arrange for him to follow you around starting tomorrow, so do not worry and rest well today. Starting tomorrow, study hard with him. Chairman, I have matters to attend to, so I will take my leave now.”
* * *
As soon as I Seongho left the Chairman’s office, he wiped the smile from his face.
‘That Seho brat, I thought he was a complete outsider to company matters like the Madam because he is so young, but he has all our M&A details down? He said he was investing in stocks with friends, but I guess it was not just child’s play?’
Thinking that he would have to keep a closer eye on Im Seho from now on, he quickened his steps toward the Management Strategy Team. At Korea Cable, the Secretariat and the Management Strategy Team were his home turf and a solid support base. They were the two wings that would lead the rise of Korea Cable, which had now become his kingdom.
When he entered the Management Strategy Team, he saw employees busily moving about.
“Manager Kim Yunsik!”
At I Seongho’s call, Manager Kim Yunsik, who had been concentrating on his work at the end of the left corridor, turned his gaze and gave a deep bow.
“If you have time now, let’s have a cup of coffee.”
“Yes, President.”
Manager Kim Yunsik followed I Seongho toward the break room, falling into worry over what this could be about.
‘I have never had a one-on-one meeting with the President until now, so what is this? He always gave work orders through the Team Leader…….’
Having arrived at the break room, I Seongho drew two cups of coffee from the vending machine and handed one over.
“Here, let’s talk while we drink. You know our company vending machine coffee is sold at a loss, right? These are expensive beans. Employee welfare makes a difference even in such trivial things. Isn’t that so?”
“Yes, thank you. I will enjoy it.”
“Let’s see… Manager Kim! It is nothing much… are you currently in charge of the Baeklo Soju bonds?”
“Yes, President. They mature next year, and were we not going to use these bonds as leverage to participate in the Baeklo Soju acquisition next year? From what I hear, White Beer, Late Group, AJ Group, and Dosan Group are sharpening their knives very keenly. If we are to match their weight class, we need to quickly join with AB Invalve and…….”
Sensing the speech would grow long, I Seongho cut off Manager Kim Yunsik.
“Well, would we not be the most advantageous anyway? Still, it does not hurt to be prepared. But, for now, toss the Baeklo matter to Deputy Chief Yang; there is more important work you need to handle urgently until next year.”
“Yes? President, the Baeklo matter is the most important big event next year, and I have been preparing for it all this time…….”
“Manager Kim, this is definitely not a bad thing for you either. You know the late Chairman’s eldest son, right?”
“Are you referring to Master Im Seho?”
“Yes, I mean Seho. Seho is now our company’s largest shareholder. But he is still a college student, you see? He has some credits left, so he will graduate at the earliest next year. After graduation, he will be placed as a Manager in the Management Strategy Team, so stick by Seho’s side until then and teach him about company work. Take care of anything Seho requests as well.”
“Excuse me, do you mean I should follow Master Im Seho around until next year? Seho is not even affiliated with the company yet; under what pretext would I assist him?”
“Why are you so inflexible? Just handle it by sending you on an assignment or a business trip until next year. Seho will become the Chairman of our company in a few years; would it not be good to get acquainted with him in advance? Others would be desperate to seize this opportunity even if they had to pay a fortune; are you not?”
“Understood. I will hand over my work right now and join Master Seho starting tomorrow. Should I wait near him without a separate office?”
“You can discuss that with Seho and decide… But, unofficial as it may be, this is your official duty nevertheless, is it not? Then you must report on it, right?”
“Report?”
“Yes. Every week, compile what Seho asked you to do and what you worked on together, and report directly to me. No need to go through Team Leader Yang; just send me an email directly.”
“Yes, understood.”
“Alright, then work hard.”
Having finished speaking, I Seongho left the break room and disappeared.
Left alone, Manager Kim Yunsik let out a sigh.
“A report related to the largest shareholder… Sigh… I feel like I have gotten entangled in something complicated… Will this be okay?”
It was when Manager Kim Yunsik, having returned to the office, organized his current work, and hurriedly completed the handover by quitting time, was exiting the company’s main gate.
“Manager Kim!”
Turning his head, he saw a young man, though smartly dressed in a high-quality suit, who looked to be in his twenties, calling out to Manager Kim Yunsik with a delighted expression.