[Chairman Park Seok-won earns hundreds of billions of dollars amid a global stock market crash!
While most billionaires have suffered astronomical losses due to the dot-com collapse and the resulting market ltdown, Chairman Park Seok-won has reportedly earned several hundred billion dollars.
Right before the bubble burst, Chairman Park sold all the tech stocks he personally held, as well as the positions managed under the Eldorado Fund.
Not only that, he anticipated the market crash and made massive profits through short positions once again…]
Sitting in the center seat of the deep brown leather sofa in his office, Chairman Park Tae-hong smiled with satisfaction as he read the article about his second son published in a major daily newspaper.
"Hundreds of billions—not in won but in dollars. The scale of his earnings is in a different league."
A recent conversation he'd had with the newly appointed chairman of the Federation of Korean Industries—chosen hastily after Daegwang Group chairman Yoo Chun-seok was imprisoned for embezzlent and breach of trust—ca to mind.
[Chairman Park, shouldn't your second son officially join the Federation of Korean Industries as a mber now?]
[Well, he's running his own group separately now. I'm sure he'll handle it himself.]
The Federation chairman had responded in clear impatience:
[He acquired WB Bank and Mancook Life, and just recently rged with Daegwang Securities. His group is now large enough to be counted among the top ten chaebols. He should join the Federation. eting often, building relationships—that'll be a great help for your second son, don't you think?]
Park Tae-hong had snorted inwardly at the chairman's subtle insistence.
Based on the scale of capital his second son controlled, even gathering the top five chaebol families together wouldn't co close to matching him.
After the IMF crisis, the entire business world had co to understand just how powerful he was—recognized as a heavyweight even on Wall Street, wielding significant influence and possessing enormous assets.
And at the very top of the business community's inner circle was the Federation of Korean Industries.
mbership had always been highly selective, allowing only those who t strict qualifications. Yet now, this once-aloof organization was not only extending a hand first, but practically begging him to join. That alone showed just how high Seok-won's status had risen.
Trying not to show how proud he felt, Chairman Park Tae-hong had replied:
[Fine. I'll bring it up with him.]
[Good, good. Don't forget to tell him. Actually—no, better yet, I'll send him an invitation. Have him attend the year-end gathering.]
[I'm not sure. He's extrely busy. He may not have ti for that.]
[Co now, you should persuade him properly. Yes?]
The Federation chairman hadn't even bothered to hide the greedy look on his face as he pleaded again and again.
And it wasn't just him. Every chairman who attended the gathering had treated him with unusual warmth, all because of his second son—sothing Chairman Park Tae-hong understood perfectly well.
Park Tae-hong set aside his wandering thoughts and looked at the large half-page photo of Seok-won printed in the newspaper. A pleased smile spread across his face.
"That's my son, all right. Handso as can be. Hahaha!"
Just then, a knock sounded, and Manager Jung Yun-kyung stepped inside.
"Sir, the vice chairman has arrived."
"Ahem."
Clearing his throat, Park Tae-hong folded the newspaper in half and set it aside.
"Let him in."
"Yes, sir."
Manager Jung left, and soon after, his eldest son—Vice Chairman Park Jin-hyung—entered the room with Secretary-General Gil Sung-ho and three other executives.
They bowed politely, and Park Tae-hong leaned back on the plush sofa and gestured toward the seats.
"Take a seat, all of you."
Once his son and the executives settled onto the sofas facing him, Park Tae-hong turned to the man seated on his left—Finance Director Seo Jin-hyung.
"I saw in the paper that Seok-won made a killing even in this crash. Should I expect good returns again this year on the funds we entrusted to the Eldorado Fund?"
Finance Director Seo, who had been given the spotlight, broke into a wide smile and answered imdiately.
"Coincidentally, we received the annual performance report from the Eldorado Fund today."
"So? How much did he make for us?"
Park Tae-hong straightened his posture, eyes gleaming with anticipation.
Vice Chairman Park Jin-hyung and the other executives also looked on, curious.
Seo Jin-hyung pulled back his shoulders and announced proudly:
"A net annual return of two hundred and fifty percent."
"What!"
"You're joking… that much?"
A chorus of astonished exclamations erupted around the room.
They had expected decent gains, but no one had imagined anything close to this. Even Park Tae-hong stared wide-eyed as he asked again.
"Is that really true?"
Finance Director Seo Jin-hyung nodded vigorously.
"Yes, sir. Those are the preliminary figures, and they say the final year-end return will likely be even higher."
"So the 85 billion won we entrusted to them has grown to 212.5 billion in just one year."
"That's correct."
"Kahahaha!"
Chairman Park Tae-hong slapped his knee and burst into laughter.
"This is a hundred tis better than letting money sit in a bank. Makes regret not putting our liquid assets to work like this sooner!"
His eldest son, Vice Chairman Park Jin-hyung, responded with a warm smile.
"Well, it's not as if anyone we entrust money to can deliver returns like this. Seok-won is the special one here."
"Haha, that's exactly right."
Gil Sung-ho, the secretary-general, clicked his tongue in admiration at the astonishingly high return.
"With numbers like these, it's almost a sha we didn't entrust more capital."
Chairman Park Tae-hong also clicked his tongue and nodded as if he shared the sentint.
"We had no choice. We had to pour all our spare liquidity into acquiring Korea Express."
The group had spent most of its available cash acquiring Korea Express—the nation's number one logistics company—and building the new Midopa Gangnam Departnt Store on the forr Sampoong site.
Even so, Chairman Park had placed all remaining liquid assets with the Eldorado Fund, and the results far exceeded expectations, making him all the more satisfied.
And the thought of having a "honey pot" that multiplied money simply by leaving it there gave him a deep sense of security.
"Thanks to the strong returns, once the final numbers are confird, our group's return on equity will improve significantly," Finance Director Seo said.
Chairman Park shrugged proudly.
"They take a hefty fee, but with returns like this, I can't complain."
Then he turned to his eldest son.
"Didn't you say before that if Korea Express is going to secure an unshakable lead in the market, we need more aggressive investnt to increase our market share?"
Receiving his father's attention, Vice Chairman Park Jin-hyung straightened his posture before answering.
"Yes, sir. With e-comrce growing so rapidly, competition in the parcel delivery market is intensifying at an explosive rate. To secure a leading position, we must invest ahead of our competitors."
"You said the parcel market is about eight hundred billion won a year now, correct?"
"Yes. That's an increase of three hundred fifty billion won compared to last year."
Hearing this, Chairman Park Tae-hong leaned back into the plush sofa and gave a small nod.
"That's an incredibly steep growth curve."
"Exactly. As ho shopping and online comrce expand, parcel usage will skyrocket. Seok-won predicted years ago that the market would surpass one trillion won within a few years, and his forecast has been spot-on."
When Seok-won first emphasised the importance of the parcel business, the market size was barely two hundred billion won.
But in less than four years, it had grown fourfold. Watching this happen, Chairman Park found himself once again impressed by his foresight.
He really does read the market perfectly. His sense for spotting money-making opportunities is extraordinary.
Of course, with that kind of instinct and insight, it was no wonder he excelled at investing as well.
Pleased with the thought, Chairman Park Tae-hong smiled faintly and asked again:
"So what investnts are you planning exactly?"
"We plan to significantly increase the number of company-owned transport trucks and establish a dense network of cargo terminals and drop-off centers nationwide. The goal is to build a fast, interconnected logistics network capable of handling various types of freight."
Seeing his father listening intently, Park Jin-hyung continued:
"In addition, we'll make active use of the internet to provide real-ti cargo tracking information to clients. We'll also collect empty-truck data frequently to maximize vehicle efficiency."
"Hmm. That sounds like a solid plan."
Chairman Park nodded, signaling his approval.
"For now, I'll give you one hundred billion won from the profits your brother generated. Put your plans into motion."
Although the group needed substantial investnt and the economy had improved, the country had not fully escaped the aftermath of the IMF crisis.
Even so, hearing his father tell him to move ahead with the previously shelved plan made Vice Chairman Park Jin-hyung's eyes light up.
"You're really giving the go-ahead?"
"The situation still isn't perfect, but if we stay curled up in fear, we'll miss our chance and end up spending twice the money and effort later. When the mont calls for it, you have to act boldly."
Hearing his father acknowledge his ability and place such trust in him, Vice Chairman Park Jin-hyung felt a rush of emotion that left him montarily speechless.
He swallowed the heat rising in his chest and lowered his head, trying to maintain a steady expression.
"I'll do everything I can to make sure I don't disappoint you."
"I know. I believe you'll handle it well."
Chairman Park Tae-hong looked at his eldest son with warm, approving eyes.
***
A private room in the Korean restaurant at the Walkerhill Hotel, its wide glass windows overlooking the broad Han River.
The autumn leaves that had once turned a vivid red had long since fallen, leaving the trees bare. In the quiet room, Seok-won sat alone, dressed neatly in a formal suit.
On the table before him were a few simple snacks served in porcelain dishes and a teacup with warm steam rising from it.
Sitting comfortably, Seok-won sipped his green tea and took in the view beyond the full-length windows.
So ti passed.
His secretary, Han Ji-sung, approached from the side and spoke in a quiet voice.
"Chief of Staff Woo has arrived."
Seok-won gave a slight nod and gently set his teacup down onto its saucer.
A mont later, after a soft knock, the sliding door opened. Chief Presidential Secretary Woo Chun-il entered the room, guided by the manager, wearing a gray suit.
As a seasoned political heavyweight and one of the administration's key power figures, Woo Chun-il carried himself with a calm yet authoritative presence.
Seok-won stood from his seat and stepped forward with a polite smile, extending his hand.
"It's been a while."
"Indeed. We've spoken often on the phone, but I can't rember how many months it's been since we last t in person."
"I apologize for not visiting more often."
"No need. I know better than anyone how busy Chairman Park is."
Chuckling warmly, Woo Chun-il released his handshake and walked over to the sunlit table by the window, taking a seat.
The manager placed a teacup filled with green tea in front of him, then left the room with Han Ji-sung.
When the door closed and only the two of them remained, Woo Chun-il spoke first, still wearing a genial smile.
"A few days ago, several top executives from major Wall Street investnt banks and financial institutions suddenly boarded private jets and flew into Seoul all at once. It caused quite a commotion. The situation was serious enough that it was reported directly to the President."
"I see. Then I must have unintentionally stirred up trouble."
Chief Secretary Woo Chun-il held his teacup and looked across the table at Seok-won.
"I heard they ca because of the option contracts the Eldorado Fund signed. Did everything get resolved?"
It was only natural that the Presidential Chief of Staff would be well-inford about such matters.
Without surprise or concern, Seok-won nodded calmly.
"Yes. Everything has been settled."
"That's good to hear."
Then it was Seok-won's turn to ask, looking at Woo Chun-il.
"So, what was the matter you said you wanted to discuss privately?"
Woo Chun-il took a brief sip of his green tea, letting the mont settle before speaking in a more serious tone.
"The governnt is currently in the process of selling three financial subsidiaries of the Hyunwoo Group."
"..."
"If possible, we were hoping Chairman Park would consider acquiring them. What do you think?"
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