"The Chief Secretary is here, Chairman."
Chairman Park Tae-hong, who had been reviewing approval docunts at his spacious mahogany desk, straightened his posture at the words of his secretary, Jung Yoon-kyung.
"Let him in."
"Yes, sir."
Not long after Jung Yoon-kyung left, Chief Secretary Gil Sung-ho entered the room, dressed in a gray suit.
Chairman Park took off his reading glasses and placed them on top of the docunts before gesturing toward the sofa in front of him with one hand.
"Have a seat."
"Yes, sir."
As Chief Secretary Gil settled onto the sofa to the right, Chairman Park rose from his seat and addressed Jung Yoon-kyung, who was standing by the door.
"Bring us two cups of coffee."
"Understood."
While Jung Yoon-kyung stepped out briefly, Chairman Park moved around his desk and took a seat at the central head position.
Out of habit, he pulled out a cigarette and placed it between his lips. Gil Sung-ho quickly flicked open a lighter and lit it for him.
"Dr. Kim ntioned during your last health checkup that it's ti to start taking better care of yourself. Wouldn't this be a good opportunity to cut back on smoking?"
"And how much longer would that really make
live? I'd rather do as I please than live feeling stifled by restrictions."
Chairman Park scoffed as he exhaled a cloud of white smoke.
Gil Sung-ho seed ready to say more but, recalling the chairman's stubborn nature, chose to remain silent.
Just then, Jung Yoon-kyung reentered the room with a tray, knocking lightly before stepping inside.
"Excuse ."
She placed a teacup in front of both Chairman Park and Chief Secretary Gil, gave a polite bow, and then exited the room again.
As the rich aroma of coffee filled the air, Chairman Park leaned back against the sofa and turned to Gil Sung-ho.
"Did you go through the docunts I gave you yesterday?"
"Are you referring to the public foundation proposal?"
"Yes."
Straightening his posture, Gil Sung-ho responded in a serious tone.
"Honestly, I wondered why we hadn't thought of this sooner."
"I figured as much. I had the sa reaction when I read the proposal my second son brought ."
Since discussions regarding inheritance were always a sensitive matter, Gil Sung-ho carefully observed Chairman Park's expression before continuing cautiously.
"If we utilize the public foundation, it will significantly reduce the inheritance and gift taxes when transferring managent rights to your eldest son."
"If we were to pay the full taxes, our already limited shares would shrink even further. Avoiding that alone is a major advantage."
"Exactly. Plus, it justifies corporate social contribution."
"That's right."
With the cigarette held between his fingers, Chairman Park's lips curled into a deep smile.
"We can save on taxes while earning praise instead of criticism—this is truly killing two birds with one stone, don't you think?"
"That's right."
Seeing how pleased Chairman Park Tae-hong was, Chief Secretary Gil Sung-ho added cautiously,
"However, if too much of the stake is transferred to the public foundation, it could invite accusations of an unfair succession sche."
"Anything in excess becos a poison. I suppose you're right."
Chairman Park took a deep drag from his cigarette before exhaling slowly, his gaze fixed on Gil Sung-ho.
"What would be an appropriate amount?"
It seed that Gil Sung-ho had already considered this, as he promptly replied,
"Of the 19.6% stake you hold in Mido Departnt Store, transferring half—9.6%—to the public foundation would be ideal."
"Are you taking into account the departnt store's stake in the textile company?"
Recognizing the sharpness of the chairman's insight, Gil Sung-ho elaborated further.
"Since Mido Departnt Store is the largest shareholder of the textile company with a 32.8% stake, it effectively owns the company. As long as you maintain control over the departnt store, you can secure stable managent rights over the group."
Chairman Park visualized the group's ownership structure in his mind and gave a slight nod.
"That doesn't sound bad."
"Rather than establishing a new public foundation, it would be better to utilize the existing Ubo Foundation."
The Ubo Foundation was a scholarship fund nad after "Ubo" (牛步), the pen na of Park Yong-joo, Chairman Park Tae-hong's late father and the founder of the group.
"If we and the foundation's charter to include public interest projects, it will be much simpler to proceed."
"That's right."
After carefully organizing his thoughts one last ti, Chairman Park solidified his decision.
He then stubbed out what remained of his cigarette in the crystal ashtray on the table and issued his instructions.
"Prepare a detailed execution plan and bring it to ."
"Understood."
***
[Sampoong Departnt Store Ordered to Cease Operations Due to Collapse Risk
The Sampoong Departnt Store, which had been under suspicion for illegal expansions and substandard construction, has been ordered to cease operations and shut down after an ergency safety inspection by the Seoul tropolitan Governnt deed the building at risk of collapse.
According to experts who participated in the inspection, severe cracks were found in the building's pillars and the ceiling on the fifth floor, with fine concrete particles and aggregate falling off—a clear indication of structural instability.
As a result, Seoul authorities issued an ergency suspension order starting at midnight today and have strictly restricted access to the building following its closure.
With public anxiety over unsafe buildings still heightened in the wake of the Seongsu Bridge collapse disaster, the governnt has vowed to take stringent follow-up asures to ensure that no more lives are endangered.
anwhile, the police have launched an investigation into possible illegal activities during the store's construction, including unauthorized changes in building use and improper expansion permits…]
During his lunch break, Seok-won took a mont to get his shoes polished. As he sat on the chair, he read the newspaper article about the Sampoong Departnt Store and felt his eyes flicker with emotion.
Ever since Koryo Ilbo published its first exclusive report, the issue surrounding the Sampoong Departnt Store had erupted as expected.
'The shock from the Seongsu Bridge collapse hasn't even faded, and now one of the most prominent departnt stores in Seoul is on the brink of collapse. Of course, people are going to panic.'
As the controversy grew, the departnt store managent imdiately denied any structural risks.
However, with fears of shoddy construction spreading throughout society, public distrust only deepened rather than subsided.
This eventually prompted the Seoul tropolitan Governnt to conduct an ergency safety inspection, the results of which were now making headlines.
'At least now, the Sampoong Departnt Store disaster won't happen.'
Although he had done his best to minimize casualties, Seok-won still couldn't shake the sorrow he felt for those who lost their lives in the Seongsu Bridge collapse.
But this ti, he had managed to prevent an even greater loss of life by stopping the collapse of the Sampoong Departnt Store in advance.
Realizing this, he let out a quiet sigh of relief.
It felt as if a heavy stone that had been weighing down his chest had finally been lifted.
Just then, a young boy—one he had grown quite familiar with after visiting the shoe shop several tis—placed his freshly polished shoes neatly in front of him and said,
"All done."
Seok-won lowered the newspaper and looked down at his feet.
The dust had been thoroughly cleaned off, and the shoes, ticulously coated with polish, glead under the light.
With a faint smile, he complinted the boy sitting in front of him.
"You've gotten much better at this."
Just then, the young boy, his face smudged with black shoe polish, grinned as he wiped the tip of his nose with a gloved hand.
"Hehe. Do you like it?"
"Yeah. At this rate, Kyung-woong, you could open your own shop."
"You think so?"
Kim Kyung-woong responded playfully, shrugging his shoulders with a mischievous grin.
Known around the area as the shoe shop boy or simply that kid from the shoe shop, Kyung-woong mainly ran errands—picking up and returning shoes for custors at various offices. Perhaps because he dealt with adults so often, he had developed a quick wit and a knack for banter.
Seok-won found Kyung-woong endearing, as the boy reminded him of his younger self.
With a small chuckle, Seok-won slid his shoes on using a shoehorn hanging nearby.
Then, he reached into his inner pocket, pulled out his wallet, and handed over a 10,000-won bill.
"Hold on a second."
Kyung-woong took the bill and began counting out change, but Seok-won waved him off.
"Keep it. Consider it a little token since this is the first ti I've had my shoes polished by you."
"Really? Wow! Thank you!"
Kyung-woong's face lit up with joy.
Seeing his bright and hardworking nature, Seok-won couldn't help but smile proudly.
'I wonder if Manager Oh felt the sa way whenever he ca to get his shoes polished by .'
The thought suddenly ward Seok-won's heart.
At that mont, Kyung-woong hesitated briefly before speaking up.
"Sir, can I ask you sothing?"
"Go ahead."
"It's about stocks. Is it really that easy to make money from them?"
Seok-won frowned.
"Where did you hear that?"
"From so of the stock investors who co here to get their shoes shined sotis."
Unaware that Seok-won's expression had darkened, Kyung-woong continued chatting excitedly.
"They say it's a bull market, and if you just buy shares of any newly listed company, you can easily triple or quadruple your money in a month."
With the market opening up, foreign investnt had poured in like a tidal wave, pushing the KOSPI past the 1,000-point mark for the first ti in five years. It continued to break record highs, fueling an unprecedented economic boom.
As stories of people making fortunes in the stock market spread, even those who had never shown interest in investing were rushing to open brokerage accounts, swept up in the frenzy.
"So, you're thinking of investing in stocks?"
"Well, they make it sound like easy money, so I have to admit, it's tempting."
Seok-won glanced at Kim Kyung-woong, who was scratching the back of his head and then spoke in a firm tone.
"There's no such thing as easy money. And for every person who wins, soone else loses— that soone could be you."
Kyung-woong, who was used to Seok-won's usual cheerful deanour, imdiately shrank back, sensing that he might have said sothing wrong.
Seeing his reaction, Seok-won softened his expression and gave him so advice in a gentler voice.
"If you really want to invest, study properly first. And only use money you're prepared to lose."
"Yes, sir… Now that I think about it, I probably got too carried away listening to other people again."
His voice sounded deflated as if he'd secretly been hoping for encouragent.
Seok-won considered offering so reassurance but decided against it, feeling it would be unnecessary ddling. Instead, he simply stood up.
"I'm heading off. Take care of business."
"Goodbye, sir!"
Kyung-woong quickly got to his feet and bowed politely.
As Seok-won entered the company building and walked toward the elevator, a sudden thought made him stop in his tracks.
He hesitated for a mont before turning around and heading toward the brokerage hall on the first floor.
As he passed through the automatic doors, a wave of warmth greeted him.
It wasn't just the heating—it was the sheer energy of the crowd filling the space.
The hall was packed with people from all walks of life. Young n who looked like recent college graduates, middle-aged businessn in suits, housewives clutching shopping bags, and even won pushing baby strollers—all gathered in a frenzy of stock trading.
"If you buy this stock now, it's guaranteed to double."
"Really?"
A housewife, eyes wide with excitent, asked eagerly.
The brokerage employee responded with enthusiasm.
"Absolutely! If you don't buy now, you might never see this price again."
Feeling a sense of urgency, the woman quickly handed over an envelope stuffed with cash.
"Then hurry! Is this enough?"
"I'll process it right away."
The employee fed the bills into a money counter and imdiately placed a buy order.
Everywhere he looked, the sa scenes were unfolding.
A mother investing her children's tuition money into stocks, a college student betting big on a newly listed company based on a tip from a friend of a friend, and curious bystanders peeking in because everyone around them seed to be making money.
Watching from a slight distance, Seok-won stroked his chin and murmured to himself.
"When even housewives with shopping bags are flooding the market, it's a clear sign we're near the peak."
Bubbles always burst at tis like this.
TL/n -
The Sampoong Departnt Store collapse was one of the deadliest peaceti disasters in South Korea's history. It occurred on June 29, 1995, in Seoul, when the five-story building suddenly collapsed, killing 502 people and injuring 937 others.
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