CH97

David Ryu.

His Korean name is Ryu Cheol-gyun.

He was a prominent figure in the Korean financial industry.

After graduating from Harvard University with a degree in economics and completing an MBA program, he joined the Klein Group and was in charge of the Asian branch's M&A business.

Established in the late 1980s, the Klein Group is currently the world's largest private equity fund with assets under management exceeding $200 billion.

Within a year of joining, Ryu Cheol-gyun successfully completed the HB Bank M&A, yielding a profit of $1 billion for the company upon resale three years later. It was the largest profit earned by the Klein Group in Asia.

Having proven his capabilities, he subsequently rose to lead the Asian operations. In essence, he oversaw all of the Klein Group's Asian business.

The Klein Group treated him exceptionally well.

However, his dream was to establish a private equity fund named after his homeland. As relevant laws emerged in Korea and the atmosphere became favorable, he led a team and founded the company known as RCK Bros.

While there were concerns, RCK Bros grew to become the largest private equity fund in Asia within a decade, with assets under management increasing to 40 trillion won.

Currently, RCK Bros' focus is on X Cop. Vice Chairman Shin Byeong-doo personally invested a significant amount of effort in this endeavor.

"Did you hear? OTK Company is also entering the acquisition race."

In response to Shin Byeong-doo's words, Ryu Cheol-gyun nodded.

"Forming a consortium with Golden Gate?"

The two were childhood friends who spent their school years together.

Later, Ryu Cheol-gyun studied abroad in the U.S. at Harvard, while Shin Byeong-doo went to Tokyo University in Japan. While Ryu Cheol-gyun flourished at the Klein Group, Shin Byeong-doo made a name for himself as an analyst at Nomura Securities.

When Ryu Cheol-gyun decided to go independent, Shin Byeong-doo was the first person he reached out to, considering him not only a close friend but also an essential talent.

Upon his friend's invitation, Shin Byeong-doo left Nomura Securities without hesitation to join RCK Bros.

While their team members established offices in Singapore, Hong Kong, Indonesia, etc., they rented a floor in a building in Yeouido to set up their headquarters.

For years, they worked tirelessly, devoted to their tasks. The first step in managing a private equity fund is to raise funds.

If the fund manager is the captain, the investors are the crew.

No one wants to board a ship whose captain may abandon it at any time. Therefore, the captain must demonstrate the determination to stay until the end, even if the ship sinks.

This was a practice in operation for private equity funds and hedge funds.

Ryu Cheol-gyun had put all of his accumulated salary and investment returns of 17 billion won, while Shin Byeong-doo also willingly invested 9 billion won, including a loan with his house as collateral.

Thanks to Ryu Cheol-gyun's connections and reputation, there was no significant difficulty in raising funds through blind funds. They garnered money from various sovereign funds, including Temasek, and quickly raised 2 billion dollars.

RCK Bros acquired HM Capital with this money. Within a year, they sold it for a profit of 3 trillion won, proving that their success was not just because of the Canline Group's reputation.

After successfully concluding their first investment, many individuals and institutions lined up to invest.

RCK Bros mainly focused their investments in Asia.

Firstly, because there were many undervalued assets in Asia, and secondly, the developed markets were dominated by existing strong players like the Canline Group.

The work of private equity funds does not end with acquiring a company. It is only complete after realizing profits through resale.

Financial companies in the US and Europe often struggle to understand Asian corporate culture, leading to cases where aggressive restructuring and staff resistance or key talent attrition hurt rather than enhance the company's value.

In contrast, RCK Bros understood Asian corporate cultures well, giving them a competitive edge.

Compared to ten years ago, China, Korea, and ASEAN countries have grown significantly, attracting lucrative deals. Hence, US and European private equity funds sought higher returns in the Asian market due to its attractiveness.

This signaled increased competition. The concerns came true during the recent X Cop acquisition battle, involving even OTK Company.

"Feels like we're looking at our younger selves, doesn't it?"

Shin Byeong-doo shook his head.

"No. We couldn't have done that at that age."

"True."

Predicting the explosion of a few phones and accurately foreseeing and boldly investing in put options – how many could do that?

During Brexit, betting on the UK forex market felt like witnessing George Soros in his heyday.

A young man in his twenties who had not graduated from college did something unbelievable.

Ryu Cheol-gyun bit his tongue.

"I never thought such a guy would be born in Korea."

Up until now, Ryu Cheol-gyun was the most famous investor in Korea. However, with Kang Jin-hoo's appearance, he now found himself in second place.

"I really want to meet this guy once to see what he's like."

"Why don't you ask him out for a cup of coffee? He's right next to you."

Just as famous hedge funds gather in Gangnam, RCK Bros headquarters are also located on Teheran Road. The distance from here to OTK Company Building was barely 200 meters.

Shin Byeong-doo also had the same thought of wanting to meet him once.

In fact, he had heard Kang Jin-hoo's name several times even before the press conference. This was because he was a senior at his daughter's school.

'Why is Yuri so interested in this guy?'

***

The X-Cop bidding process isn't just about submitting documents to participate.

First, you have to pass an evaluation to qualify, and the most crucial aspect of the evaluation is the funding plan. If you have the funds, you must prove it; if not, you need to submit a solid plan on how you will secure the funds.

The goal is to avoid situations where a contract gets canceled due to failure to secure funds after being selected as the final negotiator. (These situations actually occur quite frequently.)

After passing the evaluation, three companies are selected through a preliminary bid, followed by a final bid to choose the ultimate negotiator.

Hyun-joo, my noona, said to me, "Can you send Henry this way?"

"Sure."

At Golden Gate, Hyun-joo took charge, while on our end, it was Henry. They delved into valuing X-Cop based on the information investigated by the due diligence team.

Two things are crucial: the real value of X-Cop and what other companies believe it to be.

Right before the preliminary bid, Lite Group decided to withdraw from the bidding.

It was somewhat expected. With a dispute among siblings over control rights, the pressure for a large investment must have been overwhelming.

Are we now left with only Eunsung as a major corporation?

Meanwhile, we focused on organizational restructuring. After all, OTK Company and K Company were united under one entity. Michael Lee was appointed as the Chief Human Resources Officer for both companies.

"It's truly amazing how we've managed with only this staff so far."

It's surprising even to me.

We only received reports from the companies we held shares in and didn't interfere much. But now, as these companies grow larger, the old ways are becoming inadequate.

"We need to increase the permanent staff to a minimum of 50. Secretaries and regular employees will undergo separate interviews for recruitment."

"Please proceed with the consultation with President Park Sang-yeop."

"Understood."

We finally took a break. Taekgyu had brought a gaming console to the CEO's office and was playing games by connecting it to the TV.

I shouted in disbelief.

"What are you doing at a sacred company, man?"

"You invested in our gaming company too."

"OTK Games? That's not even a game from there."

"I'm broadening my understanding of the gaming industry by trying out a competitor's game."

"…"

Don't you just want to play games?

"Take a break when you can, too."

I returned to Korea in October.

Upon my return, I stayed secluded in the building for a while due to an issue that arose right away, worked non-stop, and then got caught by the prosecutors. I resurfaced in November after the US presidential election ended.

I kept working tirelessly and now finally have some time to catch my breath. Feeling uneasy now that I have some free time.

They say feeling anxious when not working is an early symptom of workaholism. I might end up like Hyun-joo noona at this rate.

Since I had nothing urgent to do, I took a break from work, lay down on the couch, and searched for articles on my phone.

Suddenly, I texted Yuri.

It was for no particular reason.

I felt sorry for deceiving her all this time and was curious about how things were at school.

Yuri called me right away, and before I knew it, we ended up setting a meeting for 7 o'clock that evening.

"…Huh?"

***

In the building parking lot, a Porsche Panamera, a BMW i8, a Benz S-Class, and a McLaren 570s Spider were lined up side by side.

Recently, Sangyeop senior picked McLaren through a corporate lease. He said he wanted to try driving a different car other than the S-Class.

If you've been working hard, you should live doing what you want.

Instead of driving the Porsche, I told Sangyeop senior and drove off in the S-Class. The ride was quiet and smooth.

It seems like executives prefer large sedans.

Since the acquisition of the car company, the next car might be a new model released by CarOS, right?

It should be made to sell well.

The road was a bit congested, but it didn't take long to get to Cheongdam-dong.

I parked the car at a nearby public parking lot and walked towards the gallery department store.

Before I knew it, the street was bustling with Christmas and year-end vibes. Trees and decorations were everywhere, and the lights wrapped around the trees illuminated in various colors.

The weather was so cold that it could freeze your breath. Perhaps due to the cold weather, couples walking along the street were wearing long padded coats that reached below their knees.

Students who passed by were dressed similarly. Even office workers wore long coats over their suits…

"…"

Wait, what's this?

Suddenly, the street was overflowing with people in long padded coats. From a distance, it looked as if gimbap rolls were walking around.

Black ones were the original gimbap, white ones were nude gimbap…

It was harder to find people not wearing long padded coats than those who did.

When did this trend start?

It somehow feels like I'm the only one behind. Should I go into the department store and buy one now?

Just as I was thinking that, I heard a familiar voice from behind.

"Senior!"

When I turned my head, I saw Yuri.

Her long, blond hair was tied up, wearing a black H-line skirt and a blue velvet shirt. Below the short skirt, black stockings adorned her legs, and low-heeled loafers covered her feet.

She wore a light gray fur coat that looked fluffy, with a red muffler around her exposed neck.

Fortunately, she wasn't wearing a long padded coat. Somehow, I felt relieved.

Yuri greeted me with enthusiasm, "Long time no see, senior."

"Have you been well?"

"Yes, I've been good. I keep up with your news through news and articles. But can the CEO wander around alone like this?"

"What's wrong with that? I've heard Vice President Im Jin-yong (Samsung) often goes to performances alone."

People surprisingly don't care much about others. Unless you're a very famous celebrity, not many people recognize you in public.

"But what about those glasses? Did your eyesight worsen?" I put on black horn-rimmed glasses before getting out of the car.

I awkwardly replied, "Um, it's just a disguise."

Yuri jokingly asked, "Are you suffering from celebrity disease?"

"…No, not that."

There was a buzz after the press conference. My photos and articles flooded the portal sites, and whether people knew me or not, they were talking about me.

But fame is fleeting. Other issues soon emerged, and news about me and OTK Company naturally faded away.

I don't expose my face as often as celebrities, nor do I have any remarkable features.

Wearing glasses and changing your hairstyle a bit will probably make it hard for most people to recognize you.

Of course, if you're close, they'll figure it out quickly. But if not, how can someone know if the person right in front of them is a celebrity or a CEO?

Come to think of it, was it really necessary to wear glasses?

I deflected the topic.

"The coat suits you well."

"Hehe, I bought it with Ji-hye at Uniqlo recently."

"Do they also sell fur coats there?"

"This one is faux fur. Real fur makes me feel sorry for the animals."

While chatting on the street, I noticed a few men nearby glancing in our direction.

Could it be that they recognized me?

Thinking that way and about to quickly lower my head, I realized they were looking at Yuri.

People might think I've caught the celebrity disease by looking at them.

Not just them, even passing people glanced back. That was how much attention Yuri's appearance drew.

She looked much more radiant than when I used to see her at school.

She seems to have become quite lovely in my absence.

"What do you want to eat? I'll treat you."

"What's the occasion, senior?"

"I've been meaning to treat you for a while."

Last time, we were busy, so we just talked and parted ways.

"Hehe, can I have something expensive then?"

"Of course."

Yuri happily agreed.

"Then let's go!"