After wrapping up the negotiations, I returned to my office.
Vice Chairman Han was already waiting with an iced Americano in hand.
I downed it in one go, not stopping at the coffee itself but crunching the ice cubes between my teeth.
“Did the negotiations not go well, sir?”
“We gave and took what we wanted. In the end, we agreed to drop our lawsuits without conditions.”
“It’s a bit regrettable, but resolving it under those terms isn’t bad eithe...
Russ, the chairman of Novo Nordisk, visited Korea.
Since the matter was related to Centurion rather than the Taewoo Group, we welcomed him at Centurion’s headquarters.
“It’s a pleasure to see you in Korea. If you had contacted me, I would have gone to Denmark myself. My apologies.”
“How much longer do I have left to live? The older I get, the more impatient I become. Besides, dragging out this matter will only bring huge losses to both sides, won’t it?”
<...
The reaction had been overwhelmingly strong since morning.
Not only the morning newspapers but also the morning news broadcasts, portal sites, and social media were filled with news about the Academy Award for Best Foreign Language Film.
“Chairman, Taewoo Entertainment’s stock has also surged significantly. Since they handled the production and distribution of Director Bong’s film, Taewoo Entertainment is reaping the benefits as well.”
“From now on, it’ll be m...
Electric vehicles were still an unfamiliar field.
Most consumers tended to stick with products they knew, and anything that deviated too much from existing specifications was often ignored.
But there were exceptions.
Loyal Apple customers, who loved novelty and innovation, were eager for new experiences.
Of course, this applied only to products bearing the Apple logo—but since the Taewoo-Kia electric vehicles would carry the Apple logo, there was no issue.
Ever since arriving in Korea, chaos had erupted.
Even though I returned quietly on a private jet, somehow an enormous crowd and a swarm of reporters were waiting outside the airport.
Captain Kang and the staff employed disruption tactics that could have been straight out of a covert operation.
It took over an hour before we could finally get out of the airport and into the car.
“I don’t understand what all this commotion is about. How did people even know I’d...
The day to return to Korea was drawing near.
Before leaving, there were still matters to handle, so early in the morning I went to Amazon headquarters with President Han.
“President Han, aren’t you curious why I suddenly wanted to visit Amazon headquarters?”
“To check on the automation facilities, isn’t it?”
“That’s just a secondary purpose. I’m considering creating a distribution company in Korea similar to Amazon through collaboration with them....
The economic crisis caused by the Lehman collapse was not limited to the United States.
Its effects were felt across Asia and even Europe, and every company was fighting desperately to secure cash liquidity.
In such circumstances, the power of money multiplied many times over.
David leveraged that power effectively to complete his mission.
“We’ve secured co-production rights for Tamiflu from the Swiss pharmaceutical company. Negotiations with the original U.S. ...
A conference room at GM headquarters.
Finally, the ceremony for the acquisition of GM shares was taking place here.
Attending the event were myself, Dimon, the alliance with Warren Buffett, government officials, and the president of the United Auto Workers.
For media distribution, we posed for photographs signing the contracts. Only after capturing the moment of handshakes on camera did the share acquisition ceremony conclude.
“Haha, I don’t even know if I shou...
The White House moved incredibly fast.
Less than two weeks after informing the Treasury Secretary of Taewoo Group’s intent to acquire GM, the automaker filed for bankruptcy protection.
“GM’s stock has really fallen into the cents range.”
“It’s still dropping. It might even go as low as 75 cents.”
One executive gave a wry smile as he stared at GM’s stock chart.
It was the reaction one would expect from seeing a company once hailed as America...
The heated debate dragged on for some time.
This was inevitable, as the Obama administration had appointed many politicians from the previous government, resulting in a clash of opinions.
There was only one person who could bring order to this situation—President Obama himself.
“I believe we must embrace change. Why did America’s pride, the automobile industry, collapse? Japanese and Korean car companies accepted change, adopting the latest equipment to stay competitiv...
2025-09-21 05:38:55 +0000 UTC View PostAfter the meeting with the Treasury Secretary-designate, we returned to the hotel.
In the car, Han quietly processed his thoughts, and it wasn’t until we entered the hotel that he spoke.
“Do you think the U.S. government will accept your conditions, Chairman? As Secretary Timothy indicated, it could be seen as betraying their supporters. And it’s also something that might strike at America’s pride.”
“Still, it’s better than letting the company go bankrupt, i...
I arrived at Gimpo Airport for my long-term assignment to the United States.
I didn’t go to Incheon, which has the most flight routes, because I would be taking a private jet.
“Everything is ready. You may board now,” said Captain Kang.
“The procedure really is fast. It feels like it took less than ten minutes,” I remarked, handing him my travel suitcase.
Even when flying first class, it usually takes at least thirty minutes to check in at Incheon Airport...
Chairwoman Chu Young-hee of Hyunjin Shipping.
She was in an extremely precarious situation.
After Chairman Jo’s death, various parties were maneuvering to seize control, and Hyunjin Shipping’s financial difficulties were growing more severe by the day.
As a result, the meeting with Chairwoman Chu was arranged quite quickly.
“Pleased to meet you. I’m Kim Min-jae from Taewoo Group.”
“I never expected Chairman Kim to request a meeting with me. It fe...
One week later.
David arrived in Korea.
We waited for him in Captain Kang’s office alongside President Han, and in David’s hands was the contract for the OLED core technology.
“Boss! You’re looking well. America is like a war zone, but it seems Korea is still a safe haven, huh?”
“Compared to the U.S., the damage is less, but the repercussions are slowly coming. More importantly, hand over whatever you’re holding there.”
David handed me the co...
Many corporate tycoons who had once dominated the business world in the 1990s were now gone.
Most had either passed away from old age or stepped down from their positions as heads of their companies.
Even within the Taewoo Group, my grandfather had retired this year, taking on the title of Honorary Chairman before leaving for Vietnam.
But Chairman Oh Hee-gun of Samsung Group was still holding on to his position.
What’s more, when I met him at the restaurant, he l...
By now, only one month remained in 2008.
It was the time to wrap up the year and wait for the new one, but in just the next two months, tremendous events awaited me.
Tonight, I had stayed up all night in the office with President Han, watching the results of the U.S. presidential election.
“Chairman, there’s no need to watch any further. Candidate Obama has won decisively,” Han said.
“It ended more quickly than I expected,” I replied.
“Even witho...
A quiet villa near Gyeonggi Province.
I had come here to meet Governor Choi Jaeseok of Gyeonggi.
“I’m sorry, Chairman Kim. I should have come up to Seoul, but I feel bad for making such a busy man come all the way to Gyeonggi,” he said.
“What are you apologizing for between us? And honestly, meeting here is far better than in Seoul, where everyone’s eyes are always watching. Besides, how far is it from Seoul to Gyeonggi? It’s practically next door,” I replie...
A few days later.
President Han came to deliver a report on the currency swap.
“Chairman, David has been reaching out to political circles, and even Dimon has joined in. They’ve decided to negotiate directly with the White House. The House members are already on board, and it looks like they’ll be able to secure the Senate’s support within the week.”
“That’s no easy task, yet things are moving quickly.”
“To be honest, this wasn’t such a difficul...
A quiet restaurant in Jongno.
It was a favorite spot of the Chief Presidential Secretary, who had invited me.
The place was empty, as if every other guest had been sent away. Even then, we were guided all the way to a private room at the far end.
“Chairman Kim, you’re here! Isn’t the atmosphere of this restaurant wonderful? I only introduce it to people I truly value.”
“It’s excellent. The interior blends a classic elegance with a modern touch.”
The...
2025-09-21 05:37:17 +0000 UTC View PostThe exchange rate was climbing by the day.
What had been 900 won surged past 1,000 within a month, and another month later it was on the verge of hitting 1,400.
The happiest man in this situation was, of course, President Han Junghoon.
“Chairman! The exchange rate has finally broken through 1,400. At last, the positions of buyer and seller have flipped. The heads of the financial firms have already contacted us, saying they want to visit Taewoo Securities.”
“...
Shinhwa Bank, one of Korea’s top five financial institutions, had assets exceeding 200 trillion won. It was, in many ways, a financial kingdom.
The second-in-command of that kingdom, Deputy CEO Jeong Taesub, wielded enormous influence not just within Shinhwa Bank but across the entire Korean financial market. He was now meeting with Han Jeonghun, CEO of Taewoo Securities.
“It’s a pleasure to see you again. I am now representing Taewoo Securities as CEO,” Han said.
...
2025-09-21 05:36:56 +0000 UTC View PostThe next day.
I went to Captain Kang’s traditional Korean restaurant for lunch with Warren Buffett.
“I hope traditional Korean dishes suit your taste.”
“It’s a bit too much food for just two people. A hamburger or a piece of steak would have been enough, but you’ve prepared far too much.”
“It’s a free lunch with you, so we thought it best to prepare this much.”
Lunch with Warren Buffett was no simple matter.
Every year, Buffett selected ...
2025-09-21 05:36:52 +0000 UTC View PostWednesday.
Outside the bustling Taewoo Group headquarters.
I watched the scene from the window of my office while talking with the Chief of Planning.
“Everything seems well-prepared.”
“Yesterday morning, we released the information to all media outlets. News stories are pouring out, reporting that top financial executives from around the world are visiting Korea and signing agreements with Taewoo Securities. Of course, some outlets haven’t published anything ye...
2025-09-21 05:36:39 +0000 UTC View PostA quiet villa near Gyeonggi Province.
Captain Kang was personally supervising the staff, making sure the villa’s security was tight.
Since a meeting with Gyeonggi Governor and Assemblyman Choi Jae-seok was scheduled, security had to be tighter than usual.
“Congratulations on your appointment as chairman. Leading a major corporation in your thirties is truly remarkable. I don’t even remember what I was doing at that age.”
“Well, I was born with a silver spoon,...
2025-09-21 05:36:35 +0000 UTC View PostThe meeting with Warren Buffett happened sooner than I had expected.
Of course, I had gone directly to Berkshire Hathaway in Omaha, which made it possible to schedule the appointment quickly.
“Boss! This is the Berkshire Hathaway headquarters.”
“It’s a little different from what I imagined.”
The building was smaller than I had expected. For a company belonging to Warren Buffett, the investor hailed as America’s greatest, the headquarters was surprisingly mo...
2025-09-21 05:36:19 +0000 UTC View PostA Hawaiian traditional food restaurant.
The walls were lined with carvings and decorations symbolising Hawaii, and at the center of it all, Senator Obama was waiting for me without a single aide by his side.
“Thank you so much for inviting me. With the election so close, I know how busy you must be, so it’s an honor that you made time.”
“At last, we meet in person. I almost went through the entire campaign without ever seeing the face of my biggest supporter.”
<... 2025-09-21 05:36:07 +0000 UTC View PostBecoming chairman brought more than a few inconveniences.
When I was vice chairman, my grandfather was still around, so I could travel on business without worry.
Now I had to coordinate every schedule before I could even take a few days on a trip to the United States.
“Boss! Wow, since you became chairman you've definitely changed. There's a different energy about you, isn't there?”
“I look worn down because there's so much to do. Honestly, I haven't slept mo...
Crossing Mapo Bridge into Yeouido, one could see a skyscraper standing tall among the drab concrete buildings, its glass walls glowing golden in the morning sunrise.
It was none other than Seoul’s landmark, the 63 Building.
As a side note, the 63 Building, originally built as the headquarters of Minguk Life Insurance, was designed with 63 floors to surpass Japan’s tallest building at the time, Tokyo Ikebukuro’s “Sunshine 60.”
When it was completed, Minguk Life prou...
2025-09-20 14:58:16 +0000 UTC View PostA few days after the renegotiations with the shipping companies, I found myself facing yet another potential renegotiation.
“Novo Nordisk has sent their final notice. Along with a demand to renegotiate the Yugobin shares, they’ve filed a lawsuit.”
“Seems they’ve finally found some grounds to sue.”
“They’ve filed separate suits in both the U.S. and Denmark. In the U.S., the odds are overwhelmingly in our favor. But in Denmark, things are less certain. If we...
The size of a shipping company was determined by its carrying capacity.
Simply put, it referred to the total weight of cargo a company’s ships could transport, and more specifically, the available space in vessels ready for immediate operation.
Hyunjin Shipping and Hyundai Shipping together held a capacity of roughly 1.1 million TEU.
Of that, the capacity of vessels borrowed from shipowners and that of vessels owned directly by the Taewoo Group were nearly equal in scale.<...
2025-09-20 14:48:43 +0000 UTC View Post