The Conglomerate Family Became A Villain [EN]: Chapter 99

99. The Sun at Noon (1)

Doctors Without Borders was founded in 1971 with the goal of providing humanitarian aid to people affected by war or natural disasters.

Although the Red Cross and the World Health Organization also aim to provide humanitarian aid, Doctors Without Borders was created as a separate entity because the former organizations often struggled to remain independent from the political influence of powerful countries.

Doctors Without Borders aimed to deliver humanitarian aid impartially, regardless of the political circumstances or ideologies of any given country.

“Charlie, is this true?”

The sharp voice belonged to Sarah.

“What is it?”

Sarah held out a morning newspaper.

“Hmm…”

The newspaper prominently featured an article about Hyun-woo Chung donating $10 million to the American branch of Doctors Without Borders.

“Donations are great, but isn’t that amount a bit much?”

$10 million in 1984 was equivalent to more than $100 million in 2020. In other words, Hyun-woo Chung had donated what would be hundreds of billions of won [South Korean currency] by 2020 standards.

Even in the United States, where charitable giving was already well-established, this amount was sure to attract attention.

“They’re doing good work.”

Sarah sighed deeply.

“Ha… At this rate, it’s almost like Charlie is running Doctors Without Borders himself.”

Her statement was a slight exaggeration, but some might indeed see it that way.

Hyun-woo Chung tilted his head.

“Sarah, are you saying that because this was reported so prominently, I’ll have to make huge donations every year?”

Sarah nodded.

“Of course. If you don’t make any significant donations next year, many people will be disappointed.”

She believed that donations should be strategically planned.

‘It’s better to start small and gradually increase the scale. And it’s better to donate consistently over a long period rather than giving a large sum all at once.’

Hyun-woo Chung shrugged.

“I also donated to Greenpeace.”

“To Greenpeace too?”

“The article hasn’t been published yet, though.”

Sarah sighed again.

“This is becoming a problem.”

Hyun-woo Chung had already paid the capital gains tax from the stock transaction, so donating didn’t offer him any tax benefits.

“I didn’t donate for any particular advantage.”

“Still…”

“How about you donate too, Sarah? With great power comes great responsibility, you know.”

Sarah sat down across from him.

“I already did.”

Hyun-woo Chung’s voice rose slightly.

“Really?”

“Who do you think I am?”

“My sister.”

“Yes, Charlie’s sister.”

Hyun-woo Chung asked slyly.

“How much did you donate?”

“$2 million to five different organizations.”

“That’s $10 million in total.”

“I’m not on Charlie’s level.”

Considering the money she received from the stock transaction, her donation was still substantial.

Hyun-woo Chung clasped his hands together.

“Sarah, how much should I donate to a place that really needs a large donation?”

“A place that needs a large donation?”

Hyun-woo Chung nodded.

“MIT [Massachusetts Institute of Technology].”

Sarah exclaimed.

“Ah! MIT slipped my mind. I didn’t even think about it.”

MIT had introduced Justin Balmer to Hyun-woo, providing a key to resolving the conflict.

‘I definitely can’t overlook MIT.’

She paused to consider, then spoke.

“MIT is Charlie’s alma mater and has been fully supporting us, so shouldn’t we donate about $10 million, just like Doctors Without Borders?”

Hyun-woo Chung lowered his voice.

“Sarah, don’t be surprised by what I’m about to say.”

“I’m always a little worried when you say that, Charlie.”

Hyun-woo Chung took a breath.

“I’m thinking of donating $100 million.”

Sarah’s eyes widened, and she stood up abruptly.

“$100 million?”

She thought it was utterly impossible.

“That’s too much! That’s an absurd amount!”

Based on 2020 values, that would be a donation of trillions of won.

“I knew it.”

Sarah gripped the table with both hands.

“Why are you donating so much?”

“I’m trying to create the image that MIT initially envisioned for me.”

“The image that MIT initially wanted?”

“A famous alumnus who has a positive impact and serves as a role model for others.”

Sarah was still holding onto the table.

“That’s just something that happens when you become very successful.”

Hyun-woo Chung shook his head.

“It’s not enough to just be successful. I’d have to go on TV shows and do countless interviews with the media to cultivate that image.”

Sarah understood his point.

“You don’t have time for TV appearances or magazine interviews, so you’re going to achieve it with money?”

Hyun-woo Chung was planning to gain media attention by making a series of shockingly large donations.

“I think this is more efficient.”

He believed he could earn even more money later.

‘Bank of America might offer to buy shares.’

Sarah still frowned.

“Charlie, you received $700 million from this transaction.”

Of that $700 million, $150 million had already been paid in taxes. If he donated about $150 million, he would only have $400 million left.

“Even if I donate as planned, I’ll still have more than half left, so it’s fine.”

Sarah sighed deeply and sat back down.

“Haa… I can’t stop Charlie.”

“I think it’s better than buying a mansion or a yacht.”

Donating is preferable to extravagant spending.

Sarah looked up at the ceiling.

“Of course, it is.”

She stretched her hands upward.

“There were times when I struggled to earn thousands of dollars. No, there was a time when I tutored Charlie to earn just a few hundred dollars.”

It had only been a few years since she had been Hyun-woo Chung’s tutor.

“And if you donate too much, it can also negatively affect employee morale.”

Hyun-woo Chung crossed his arms.

“Are you saying the employees will think, ‘The CEO is spending the money we worked so hard to earn on people in need’?”

Sarah nodded.

“That’s right.”

“Then we should prepare proper bonuses too.”

Sarah said without looking at Hyun-woo.

“Charlie, luxury isn’t the only form of waste.”

She believed that success came from knowing how to value money.

‘Of course, he’s already very successful.’

Hyun-woo Chung responded softly.

“Sarah, think of it as an investment in the future.”

“An investment?”

“Creating a positive image is also important.”

Hyun-woo Chung knew how Bill Gates had cultivated his public image.

‘The path I’m going to take might be even more challenging than Bill Gates’ path.’

He subtly changed the subject.

“Sarah, how’s Morgan Stanley doing?”

Sarah straightened her posture.

“I’m getting updates through Peter, but even if we understand their intentions, there’s little we can do.”

“What about JP Morgan?”

If Morgan Stanley released a service that copied JP Service, JP Morgan would be the biggest loser.

“They’re in disarray since Mr. Hamilton left.”

Neil Hamilton had left the company after the equity transaction with Hyun-woo.

“Are you saying his successor hasn’t been chosen yet?”

“That’s right.”

“JP Morgan is also in trouble.”

On Wall Street, it was rumored that Arthur Morgan had reprimanded Neil Hamilton for overpaying for Victoria Corporation, leading to his resignation.

“JP Morgan won’t be able to make any moves until Mr. Hamilton’s successor is appointed.”

The phone rang just as Hyun-woo was about to share his thoughts on JP Morgan.

Ring, ring.

Hyun-woo tilted his head and stood up.

“A call on a Saturday morning?”

The two were having their discussion at Hyun-woo’s house, not at Victoria Corporation.

“Hello.”

The voice on the other end was Korean, not English.

“Young Master, it’s me.”

The caller was Choi Kyung-min [Hyun-woo’s secretary].

“Secretary Choi, it’s been two weeks.”

He had been too busy the previous week to speak with Choi Kyung-min.

“I’m calling after seeing the TV news.”

“TV news?”

“There’s a news segment on international affairs about a Korean businessman named Charlie Chung making a huge donation. That’s you, isn’t it, Young Master?”

Hyun-woo Chung scratched his head.

“It’s spread that far?”

He never imagined his name would appear in Korean news.

‘This is really troublesome.’

He frowned.

“It’s fine because it’s Sunday, but everyone will know tomorrow.”

“Are you saying that everyone who knows who Charlie Chung is will find out?”

“Young Master, the media will be the first to react.”

They might even film a documentary about him as a source of national pride.

‘Tsk, that’s serious.’

Hyun-woo Chung raised his voice.

“Can’t we just handle it as a case of mistaken identity?”

In Korea, the surname Jung [Chung] was not as common as Kim, Lee, or Park, but it wasn’t rare either.

They could argue that it was a Korean-American Charlie Chung who had succeeded, not Hyun-woo Chung, the third-generation heir of the Daewoon Group.

“It’s possible, but we won’t be able to stop everything if the media gets involved.”

Hyun-woo Chung sighed.

“I think I’ll have to discuss this with the Chief of Staff.”

Choi Kyung-min agreed.

“I think that would be best right now.”

Before hanging up, Hyun-woo Chung said to Choi Kyung-min.

“Secretary Choi, you contacted me at the right time. You handled this well.”

“I’m simply serving the Young Master.”

Choi Kyung-min was one of the few people Hyun-woo trusted.

“I’ll contact you again.”

Click.

Sarah asked as he hung up.

“Was that a call from Korea?”

Sarah hadn’t understood any of the conversation because he had spoken Korean, not English.

“It seems the news has reached Korea too.”

Sarah frowned slightly.

“See, what did I tell you?”

She was convinced that Hyun-woo Chung’s donation was excessive, no matter how she looked at it.

“I should reconsider the donation to MIT.”

“You mean the $100 million?”

“I have no choice but to reduce the amount.”

The huge donation had caused a greater stir than Hyun-woo Chung had anticipated.

‘Was it too early for this era?’

It was still 1984.

* * *

Chief of Staff Hong Won-ik had a habit of going to bed early because he started work at dawn.

1 a.m. on Sunday.

He was already asleep.

Ring, ring.

The sound of a hammer hitting steel, not a virtual ringtone.

Chief of Staff Hong Won-ik woke up with a frown.

“Who on earth is calling at this hour…”

His wife also woke up.

“It sounds like a call from your company?”

Chief of Staff Hong Won-ik straightened his frown and nodded.

“Probably.”

The phone wasn’t in the bedroom but in the living room, so he opened the door and went to the living room.

He sighed and picked up the receiver.

“This is Hong Won-ik.”

“Chief of Staff, it’s me.”

Chief of Staff Hong Won-ik’s eyebrows shot up when he heard Hyun-woo Chung’s voice.

“Do you have any idea what time it is?”

“Wouldn’t it be around 1 o’clock?”

“Yes, it’s 1 a.m.!”

Chief of Staff Hong Won-ik’s tone was harsher than usual, making it clear to Hyun-woo Chung that he had been woken up.

“Chief of Staff, I apologize for waking you. But it’s urgent.”

Chief of Staff Hong Won-ik sat down on the sofa at the word “urgent.”

“What urgent matter requires a call at this hour?”

“I heard that my story was on the late-night news today.”

In 1984, Korean broadcasting typically ended its programming with the late-night news.

“Your story on the late-night news?”

Chief of Staff Hong Won-ik knew the matter was serious.

‘Something must have happened.’

Hyun-woo Chung was still the Daewoon Group’s Achilles’ heel.

“I made some donations in the United States, and it seems that was reported.”

“You donated in the United States?”

“I made some money.”

Chief of Staff Hong Won-ik felt a surge of annoyance.

‘Donating made the news? Did he call at this hour to brag?’

He decided to hear the full story.

“Why would your donation in the United States be on the late-night news?”

“The amount…”

Chief of Staff Hong Won-ik interrupted.

“How much was it?”

“I donated $10 million.”

Chief of Staff Hong Won-ik woke up completely.

“What?”

$10 million was a substantial sum, enough to acquire a mid-sized company or a subsidiary of a large corporation.

‘Hyun-woo had that kind of money? No, the fact that he had that kind of money isn’t the problem.’

The biggest issue was that he had donated it.

“Did you get scammed or something?”

“Scammed? I donated it for humanitarian reasons.”

It was becoming increasingly absurd.

“What do you mean donating for humanitarian reasons? Are you claiming to be some kind of philanthropist?”

“It’s not that. I donated to people who are doing good work in Africa.”

Chief of Staff Hong Won-ik’s head spun.

‘Am I dreaming?’

He pinched his thigh.

It hurt.

It was definitely not a dream.

Chief of Staff Hong Won-ik spoke, trying to summarize the situation.

“So, you donated a huge sum of $10 million to an American relief organization, and that made Korean news?”

“In short, yes.”

Chief of Staff Hong Won-ik was speechless.

“That’s definitely newsworthy.”

“Chief of Staff, I don’t want my name to be known in Korea.”

Chief of Staff Hong Won-ik understood Hyun-woo Chung’s concern.

“Hmm, are you worried that it might seem strange for a third-generation chaebol [family-owned conglomerate] heir to donate a large sum of money in the United States?”

“That’s part of it, and it could also reflect poorly on my grandfather.”

It would be a disservice to Chairman Jung Woo-sun.

Chief of Staff Hong Won-ik snapped to attention.

‘Ah! That’s right!’

If Hyun-woo spent a large sum of money in the United States, the Korean government might suspect that the money wasn’t Hyun-woo’s but Chairman Jung Woo-sun’s.

‘If they accuse the Daewoon Group of smuggling a large amount of foreign currency, the government will take action.’

There could be a tax investigation and a large-scale investigation by the prosecution.

Chief of Staff Hong Won-ik realized his mouth was dry.

“How should we handle this to avoid reflecting poorly on the Chairman?”

He decided to hear Hyun-woo’s suggestion first.

“Shouldn’t we handle it as a case of mistaken identity?”

“A case of mistaken identity?”

“The person named Charlie Chung is not Jung Hyun-woo of our Daewoon Group. Shouldn’t we issue a press release to the media stating that?”

It would be a statement from the Daewoon Group’s secretariat.

“Hmm, will that be enough?”

“Shouldn’t we start with that and then consider the next step?”

Chief of Staff Hong Won-ik nodded.

“Okay. I’ll take care of it.”

Hyun-woo breathed a sigh of relief.

‘I think I can put out this fire for now.’

He sighed inwardly.

“Chief of Staff, I’m counting on you.”

Chief of Staff Hong Won-ik asked as he was about to hang up.

“Hyun-woo, did you really earn $10 million?”

Instead of answering, Hyun-woo Chung asked a question.

“Chief of Staff, even in the United States, people don’t just give $10 million away.”

Chief of Staff Hong Won-ik tilted his head.

‘Isn’t donating giving to others?’

His head was filled with question marks.