Despite the efforts of the pro-government media and the ruling party, criticism only intensified. Approval ratings plummeted like stocks in the KOSDAQ market that had been dumped by operational forces.
Feeling unable to withstand the pressure any longer, President Park Si-hyeong stood before the press and made a public apology.
“Even though I boasted of a morally perfect administration, I cannot lift my head in the face of these truly disappointing events happening around me. However, spending time in division and confusion is not an option as the situation at home and abroad is too urgent, and the current issues are too critical and weighty. As the president responsible for state affairs, I cannot neglect my duties for even a moment. With a humble heart, I will work even harder for the governance of the nation. Once again, I apologize to the people.”
After finishing reading his prepared statement, Park Si-hyeong bowed his head. That was the end of it. He did not entertain any questions.
While watching TV together, Elli asked, “What exactly is he apologizing for?”
“Well…” Park Si-hyeong replied.
The subject and object of the apology seemed very unclear. To interpret it, perhaps it could be understood as, “I have done nothing wrong, but it seems someone has, so I apologize on their behalf”? After all the chaos, moving on with just a mere statement of remorse was not acceptable. Someone had to take responsibility.
Taking responsibility for the excessive investigations, Prosecutor General Hong Man-ho resigned, followed by the Seoul Chief Prosecutor and other officials under him. The so-called “Hong Man-ho Line” of prosecutors were stripped of their positions one by one.
Failing to catch spies but delving into private citizens and internet comments, even the National Intelligence Service mirrored this pattern. Yoon Se-won stepped down as the head of the NIS, and those implicated in illegal surveillance were summoned by the prosecution.
Park Si-hyeong may have felt like he had lost a limb, but it was perhaps better than losing his head.
The opposition demanded a clean-up, insisting that all Cheongwadae officials resign, but the ruling party stated that those responsible had already taken accountability. It was time to focus on the people’s livelihoods.
It was agreed by both parties to recommend the next Prosecutor General and NIS director. While not everything was completely resolved, this marked the conclusion for now.
***
We headed to our house in Yeoksam-dong after a long time. Despite leaving the house vacant for a long time, it was clean inside, thanks to the cleaning company’s visit. We plopped down on the sofa.
“It feels like returning after completing a long journey.”
“It was indeed long.”
It took three months to come back after briefly going to the United States. After returning to Korea, I was busy working and going back and forth to the prosecutor’s office.
“Should I stay in Korea even after these things happened to me?”
“That’s true.”
If Hyunjoo and Ellie had stayed in Hong Kong, I would have considered going there. But unless they stop Golden Gate, they have to stay in Korea. Fortunately, with Ronald’s election, we now have connections at the White House. We can’t let similar things happen again without going crazy.
“Plus, being Korean, it’s more comfortable to live in Korea no matter what. Family and friends are all here.”
Taekgyu nodded.
“If you have money, there’s no better country to live in than Korea.” I agreed.
Looking out the window, I could see security guards stationed at the main gate and around the area.
“It must be hard to live here.”
The house structure is not suitable for security and protection. Facing the street outside, with a low wall and close proximity to the neighboring house. If we enhance security too much, it will inconvenience the surrounding residents.
I sighed inwardly.
I complicated things by criticizing the establishment without preparation.
“Where should we move to?”
“We need to start looking now.”
They say house prices have skyrocketed, but compared to our increased assets, it’s nothing.
“How about living in a hotel like noona?”
Just so you know, after Hyunjoo and Ellie came to Korea, they continued to stay in a hotel. Just like when they lived in Hong Kong, the company covers all expenses.
Taekgyu thought for a moment and then said, “Or, how about buying the entire hotel?”
“Wow!”
It’s a surprising idea.
***
The building on Teheran Road was originally bought to be used as K Company’s headquarters, but by chance, it ended up displaying the OTK Company sign.
Since things turned out this way, OTK Company also decided to move away from the tax haven Paper Company and transform into a proper company.
Most of the offices in the original building have left as their contracts expired.
I talked with Senior Sangyeop, and we decided that OTK Company will use floors 30 to 38, and K Company will use floors 20 to 29.
We gathered for a meeting. Noona Hyunjoo and Ellie were absent due to Golden Gate business, and Senior Sangyeop was absent due to K Company business. Therefore, only me, Taekgyu, and Henry were present.
I sketched out the organizational chart of OTK Company.
– Kang Jinhoo: CEO and major shareholder.
– Oh Taekgyu: COO and 2nd major shareholder.
– Oh Hyunjoo: 3rd major shareholder.
– Henry Goldman: Employee.
I wrote a few lines on the A4 paper, and Taekgyu, upon seeing it, said, “Is this all?”
“What else do you think should be there?” I replied.
It’s surprising that we’ve been operating with this few staff. We made significant decisions while K Company handled most of the routine tasks.
However, Henry joining us on this trip to the U.S. is a great achievement. He is the grandson and successor of James C. Goldman, who made Golden Gate the world’s top IB.
While James educates at Golden Gate, the task of educating the heir falls to me. Though I have nothing particularly to teach, working together might lead to some learning or realization on his part.
It’s not easy to recruit such talents. In fact, in this investment, Henry has performed his duty diligently, enough for Noona Hyunjoo to acknowledge his business acumen.
Since childhood, thanks to receiving elite education, I can speak several languages. I am fluent in English, Spanish, Portuguese, German, and French, and I am proficient in Chinese and Japanese as well.
It is said that since I have no intention of working in Korea after coming here, I diligently studied Korean while I was away.
“Is Korean easy to learn?”
From an American perspective, languages derived from Latin might be relatively easier to learn, but languages from the Asian region with completely different origins are not as easy to learn.
“Fortunately, Japanese has similar word order and grammar. I also know some Chinese characters.”
Though I haven’t been studying for long, I can now understand and speak simple greetings and words.
True geniuses are geniuses, indeed. I express my gratitude to James, who sent me such a talented individual to work under me.
Taekgyu asked, “How are you going to hire employees? Through public recruitment?”
“I’m considering it.”
If we do public recruitment, who will conduct the interviews?
“Will there be many applicants?”
“There will be an overflow.”
Fortunately(?), there are many highly-educated job seekers in Korea currently. This trend is also prevalent in the financial sector, where individuals after completing MBA or CFA programs tend to stay at home rather than seeking employment.
“Japan is facing labor shortages, why is it so different in our country?”
“Well, the baby boomer generation there has completely retired.”
While Korea struggles with job shortages, Japan is grappling with severe labor shortages. Larger companies are in a better situation, but small to medium-sized enterprises are struggling to find employees and might even have to shut down as a result.
It’s almost comical that HR managers may find themselves being requested for interviews by job seekers, asking to be hired by our company instead.
For the young people in our country suffering from not being able to find jobs, this sounds like a dream.
Considering the historical trend of the South Korean economy following the patterns of the Japanese economy at intervals, once the retirement of the baby boomer generation is complete, South Korea is likely to face severe labor shortages as well.
The problem is that until then, the situation will continue to be such that there are more job seekers than jobs available.
It may not be easy to resolve youth unemployment for a few years. Even among the senior graduates, there are quite a few who haven’t been able to find jobs.
“Still, job seekers in the finance sector have a bit of relief when Golden Gate comes in.”
Golden Gate is like a branch of a large securities firm.
Previously, there were only a few branches in the metropolitan area, including Gwanghwamun and Gangnam, but with the establishment of branches, they will expand to focus on metropolitan areas.
The Asian branch alone has over 2,000 employees. The Korean branch may not reach that number, but it will still be around 1,000 employees.
Even with a lot of money, hiring and placing hundreds of employees at once is difficult. So, Golden Gate plans to conduct open recruitment and gradually increase staff numbers.
We don’t need as many personnel as a securities firm to attract customers or operate branches.
However, we need to directly manage the businesses entrusted to us by K Company and be able to execute future investment plans.
Finance, treasury, investment, accounting, legal affairs, and so on.
Roughly estimating only essential personnel, we need around 50 people. First, we should select them to establish an organizational structure and gradually increase them.
“We should start by looking for CHO.”
Taek-gyu asked.
“What is CHO?”
“He is the chief HR officer. In other words, someone who can recruit people and manage the organization.”
“Where can we find him?”
“We have to ask around.”
Indeed, it wouldn’t work without noona.
I called my noona Hyun-joo. After hearing me out, she asked,
[Korean or foreigner?]
“Since most of our business is international, a foreigner would be better.” [I’ll inform a headhunting firm.]
Hyunjoo sent emails to headhunting companies. In response, dozens of resumes came flying in. We printed them out and took a look. Everyone’s educational background and work experience were impressive. Taek-gyu showed a resume.
“What do you think of this person? He’s of Korean descent.”
“Michael Lee?”
Henry quickly spoke up.
“I would also like to recommend that person.”
“Do you know him?”
“Yes. Probably hard to find someone of his caliber among HR personnel.”
He is said to have improved the productivity of employees at his previous company and significantly reduced turnover rate.
We picked a few more candidates, but as Henry said, there was no one like Michael Lee. The biggest advantage is that he is a Korean-American. Korean language proficiency was listed on his resume.
As we plan to hire employees in Korea as well, it is beneficial to have someone who can speak Korean, understand Korean culture for smooth HR and organizational management.
“I wonder if he will accept my offer.”
While salary and conditions can be negotiated, the main issue is that the job is in Korea. Would someone who is doing well in the US want to come all the way to Korea to work?
Henry said, “I think he will accept.”
“Why?”
Instead of answering my question, Henry just smiled.
I sent an email to the headhunting company that provided Michael Lee’s resume. Shortly after, I received a prompt response.
They thanked me for the offer and expressed their hope to meet soon.
“Really?”
“Not many people would turn down a proposal from OTK Company’s CEO. Opportunities to work with exceptional investors who have led numerous successful investments are rare.”
“Oh, I see.”
It’s nice to become famous.
We were continuing the meeting when suddenly, my phone rang.
I told Taekgyu, “Turn off your phone during the meeting.”
“Ah, just a moment.”
Taekgyu took out his phone from his pocket. But instead of turning it off, he answered the call after looking at the screen.
“Hello. Yes, I am with him. What? Is that true? Should I change it?”
“If it’s not an important call, hang up.”
At my words, Taekgyu handed me the phone.
“It’s an important call.”
“Who is it?”
“Your mother. She said she urgently needed to talk to me.”
After the press conference, my phone became unusable.
After returning from the military, my number had changed, and I didn’t have many close friends. So, not many people knew my new number. But somehow, when I turned on my phone later, I received countless calls from former classmates, media companies, parliamentary offices, civic groups, and charities.
That’s why I’ve switched off my personal phone completely and only use the corporate phone. Although I gave my number to my mother during our last call, I have now set it to silent mode as I am in a meeting.
Taekgyu also changed his number to a corporate one, but he had given his number to my mother when he met her last time.
Since my phone couldn’t be reached, it seems my mother contacted Taekgyu.
I answered the phone. “Yes, mother.”
[Aren’t you busy? I hope I’m not bothering you with a pointless call.]
Upon hearing this, I could tell from my mother’s voice that something was different.
I quickly asked her.
“What’s wrong?”
“Well, you see…”
“Did something happen?”
After hesitating for a moment, my mother cautiously spoke.
“Right now, relatives are gathering at home. They all want to meet you, but I’m not sure what to do.”
“…Really?”
Why do they want to meet me?
Well, the vultures are now coming
Rat its comming