I arrived at Gimpo Airport for my long-term assignnt 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. But at the private terminal, where there are far fewer passengers, all procedures are handled in a single location, taking less than ten minutes.
"All vehicles and security arrangents in the U.S. are fully prepared. All our staff waiting in the States are assembled at the airport," Captain Kang reported.
"With all that preparation, is it really necessary for you to accompany to the U.S.? You still have the company to manage in Korea."
"Thanks to the efficient system Taewoo Group has built, the company runs smoothly even without . And what could possibly be more important than the chairman's safety?"
Captain Kang probably wanted to get so fresh air, too.
So, without further words, I boarded the private jet alongside him.
But there was one person who couldn't resist pointing out Kang's situation.
"Does it make sense for soone called 'President' to be acting as a bodyguard all the way to the U.S.?"
"Isn't Mr. Han, who you call 'President,' also soone with that title?"
"My situation is different. I have to analyze everything that will happen going forward, so of course I must co along," Han replied.
Han had also chosen to accompany to the United States.
I would have preferred to leave him in Korea, but since I couldn't predict how things would unfold in the U.S., I needed his assistance.
"Don't exhaust yourselves before even reaching the U.S. Find a seat and get so rest. Once we land, there won't be a mont to relax," I advised.
"I'm confident I can sleep before the plane takes off. I stayed up all night analyzing and organizing materials until dawn," Han said.
"I'll manage the interior of the plane while you two sleep, just in case anything unexpected happens," Captain Kang added.
It seed Kang was enthusiastic about getting back into security work after a long break.
I wanted to tell him that it wasn't necessary, but I was too drained to argue and soon drifted into sleep.
***
We arrived at Washington D.C. airport.
After checking into the hotel we had reserved in advance, we took refreshing showers and had a light rest.
Once we had fully shaken off our fatigue, David arrived at the hotel.
"Boss! It's ti to go."
"We can't be late for the presidential inauguration. Let's go."
David, President Han, Captain Kang, and I moved toward the inauguration site with the mindset of soldiers heading into battle.
The outdoor park at the U.S. Capitol in Washington D.C.
Over two million people had filled the park.
David and I had received separate invitations, so we proceeded to our designated seats.
"The level of attention is incredible," I said.
"Since it's the first inauguration of a president of color, the attention is on a completely different level compared to other inaugurations. On top of that, yesterday was Martin Luther King Jr. Day, which makes the public interest even hotter," David explained.
The inauguration proceeded amid enormous attention.
The ceremony began with the oath of office for Vice President Biden.
He is now the vice president, but before I went back in ti, he had been president.
Nearly twenty years younger, Vice President Biden's voice carried much more energy than I rembered.
"The presidential oath of office will now begin!"
Finally, it was the protagonist's turn.
President-elect Obama placed his hand on the Bible and completed the oath of office.
Soon after, President Obama began his inaugural address.
It was an incredibly long speech, but I focused on every single word, and in my mind, I could compress the address into a single phrase:
Hope and change.
A recognition of Arica's current crisis and the need to respond.
Never losing hope, and a call for the entire community to work together for the nation's progress.
"This is truly an Obama-style inaugural address," I said.
"He emphasizes hope, but there's also a strong will to fight for change," David whispered.
"We'll soon see how strong that will is," I replied.
"There's no eting with the president scheduled today," David continued.
"Even if it's not the president, one of the cabinet's key mbers will co to see us. Otherwise, they wouldn't have insisted on our attending the inauguration."
The inaugural address was approaching its conclusion.
Then, suddenly, President Obama looked directly at as he delivered the closing lines of his speech.
"To overco the current crisis, we must build international partnerships. Collaboration with outstanding overseas companies and foreign investnt for companies at risk of bankruptcy are essential to rapidly overco this challenge. The U.S. market remains a land of opportunity. Do not hesitate. The U.S. governnt will actively support you!"
He was looking at while saying this?
Even if he wasn't literally looking at , it was clear that his words were intended with in mind.
David seed to notice the sa, leaning over to quietly whisper.
"It looks like they're dead set on giving the U.S. auto company to you, Boss. Saying sothing like this in the inaugural address is a blatant signal."
"We'll see once we wait," I replied.
There was no need to wait long.
As I had expected, the mont the inauguration ended, a person who looked like an aide ca to find us. David, familiar with him, whispered sothing in his ear.
"The Treasury Secretary wants to et with you quietly, Boss."
"Just as I thought. Ask if President Han can attend as well."
David conveyed my intent to the aide in a whisper. After stepping away briefly, the aide returned and nodded.
"President Han may attend as well. It seems your takeover of AIG through Taewoo Securities earned the approval."
"President Han isn't soone who can be easily overshadowed anymore," I remarked.
Together with President Han, we moved to the designated eting place. Only after arriving did we realize where it was.
"Boss, isn't this the U.S. Federal Reserve Board building?"
"No wonder it feels familiar. I never thought they'd ask to et us here at the Fed."
"Perhaps because all attention is focused on the inauguration, it's unusually quiet inside," David noted.
The Federal Reserve building was silent as if a mouse had been squashed. The Treasury had a reason for choosing this location: the incoming Treasury Secretary had served as the President of the New York Fed under the previous administration.
"Nice to et you. I'm Timothy, the incoming Treasury Secretary. We've t once during the last administration, haven't we?"
"I didn't have the chance to formally greet you then. Let do so now. I am Kim Min-jae, Chairman of Taewoo Group."
In the heavily secured conference room, we exchanged greetings. I had seen Timothy during negotiations under the previous governnt. Back then, he hadn't made any particularly aggressive moves, so his presence was understated. But now, as the incoming Treasury Secretary, he carried a noticeably different aura.
"How did you find the inaugural address? It was quite moving, wasn't it?"
"It conveyed a ssage of unity and hope. Judging by the composition of the attendees, it was clear that the unity wasn't just words."
"Ah, I see it as a remark aid at . Since I, who served as Fed President in the previous administration, have now been appointed Treasury Secretary."
The conservative administration had been replaced by a progressive one.
Normally, when a new administration takes over, it seeks to erase the previous one, but the Obama administration had incorporated many people from the prior governnt into its cabinet.
"I understand that not only you, Secretary Timothy, but also many others from the previous administration are included in the cabinet."
"To overco the current economic crisis, isn't it necessary for the ruling and opposition parties to work together? Also, my inaugural address included a request for international assistance."
"Was that perhaps a remark aid at ?"
"You could see it that way. How many investors have the capability to acquire a large corporation on the brink of bankruptcy? Among them, the most capable is undoubtedly you, Chairman Kim Min-jae."
Honestly, I didn't feel offended.
How could I feel bad when the incoming Treasury Secretary was praising ?
But praise always cos with expectations; given how much he hoped for, it was clear that was why he offered the complint.
"You flatter . Ah! Let also introduce President Han Jung-hoon of Taewoo Securities."
"Pleasure to et you. It's an honor to et soone so well-known on Wall Street. I've also heard that AIG has stabilized quickly. That must be thanks to your ability, President Han."
"I rely follow Chairman Kim's instructions," Han said modestly.
"Hm hm. I think introductions are sufficient. Shall we get to the main topic?"
Secretary Timothy cleared his throat to shift the discussion.
Han and I straightened in our seats, waiting for his words.
"You once ntioned that, while you wouldn't acquire more financial firms, you might consider acquiring a manufacturing company, correct?"
"Yes, I said that because even AIG alone keeps us fully occupied."
"I'd like to make a proposal. Please consider acquiring one of the Big Three U.S. automakers."
He ca straight to the point.
I had anticipated such a discussion, but judging by Timothy's deanor, it was clear that the situation of the U.S. Big Three was even more severe than publicly known.
"Thank you for the proposal, but in their current state, a U.S. automaker is not worth acquiring."
"Your words are sowhat blunt."
"If they sound harsh, I apologize. But acquiring a U.S. automaker ans Taewoo Group would have to shoulder both the accumulated and future losses. If that happens, even Taewoo Group cannot remain unscathed."
Secretary Timothy's expression turned bitter.
His reaction ca from his deep understanding of the chronic issues plaguing the current U.S. automakers.
"If you were to acquire the automaker, the U.S. governnt is willing to forgive part of its debt."
"In addition to debt forgiveness, issues like the job bank system, strong labor unions, and plant relocations would also need to be resolved."
"You're suggesting I stab the voters who supported?"
"Citizens in the Rust Belt, including Detroit, wouldn't be pleased."
The Rust Belt—a term referring to the U.S.'s major industrial regions, historically ho to the automotive and steel industries.
The term also implied regions with powerful labor unions. Most unions supported the Obama administration, so as Secretary Timothy indicated, agreeing to my conditions could be seen as turning against his supporters.
"Those conditions are too burdenso for a VIP. There are other ways to prevent the U.S. automaker from going bankrupt besides the thod you suggested, Chairman Kim."
"Of course, if the U.S. governnt poured in massive bailouts, it could prevent the automaker's bankruptcy. But rely avoiding bankruptcy isn't enough. To truly rebuild the U.S. automaker, the vicious cycle must be broken completely. And now—while the President's approval is high—is the perfect timing."
Secretary Timothy sighed.
The conditions I proposed could destabilize the Obama administration before it even properly began.
"I'll need to hear from the Treasury Departnt, the Fed, and all related agencies before I can provide a definitive answer."
"Of course, I'll wait."
"However, there will be considerable opposition. So people are obsessively against selling an Arican company to a Korean firm. Others are skeptical that the situation would improve even if Taewoo Group acquired it."
The U.S. automotive industry—a source of national pride.
Taewoo Group acquiring an Arican automaker could strike at that pride.
"If I can attend the eting, I can handle that problem."
"Hm, understood. I'll arrange a session soon."
The first eting concluded there.
I never intended to resolve everything today; it was rely an initial reconnaissance.
Tasting the approach of the new U.S. administration for the first ti, I found it surprisingly flavorful—salty, but in a way that suited my taste.
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