Chapter 96: Investing in People

“The company I founded, Psylhub, is a platform that allows developers to perform projects no matter where they are. Developers from all over the world gather as if they were in one space…”

Na Min-ho tried to explain the company, but Park Jin-hyuk raised his hand to stop him.

“I don’t know much about those things, so there’s no need to introduce the company. I’m not curious about what kind of company it is.”

“You’re not curious about the company?”

“What’s the point of hearing an explanation? It’s an IT company, right? That’s enough. More than that, I’m curious why you want to receive investment. What is the reason?”

If a company was running well, there would be no reason to attract investment.

If they wanted investment to expand their business, they certainly wouldn’t try to meet an investor this way. Successful startups would be swamped with people looking to invest even if they just stayed still.

Park Jin-hyuk was curious why he was trying to attract investment by chasing him all the way to this gathering, a place that didn’t suit investment at all.

Na Min-ho couldn’t hide his nervousness.

It was clear he had come here with a plan of his own. That was why he had approached Han Ji-yeon to gain access to the gathering, and once inside, he had been keeping an eye on Park Jin-hyuk, waiting for the right timing to approach.

But standing before Park Jin-hyuk now, he seemed intimidated. He couldn’t open his mouth, and the words wouldn’t come out. Park Jin-hyuk’s attitude, which suggested he already knew everything the man had done, made Na Min-ho regret coming here.

Park Jin-hyuk smiled as he watched Na Min-ho fail to speak despite being given the floor. The image of a novice who had just entered society was being conveyed through him. Park Jin-hyuk found it almost cute, so he gestured for Na Min-ho to follow.

To help ease his tension, he led Na Min-ho toward an empty chair rather than continuing to talk while standing.

Led by Park Jin-hyuk’s hand, Na Min-ho sat on a sofa in a corner of the lounge and looked around. The atmosphere that had once centered around Park Jin-hyuk had dispersed back throughout the lounge. A few people still glanced toward him, but seeing his lack of interest, they only watched from a distance.

Park Jin-hyuk crossed his legs and brushed the dust off his suit pants.

“One chance. You have ten minutes. You came here because you wanted to meet me, and if you want to receive investment, you must not miss this window. Shall we begin?”

Park Jin-hyuk leaned back against the sofa armrest and looked at Na Min-ho. Receiving that gaze, Na Min-ho bit his lower lip. He then began to recite the words he had practiced countless times.

“It’s been two years since I founded the company with my university friends. We’ve maintained the company with personal funds, and now we can clearly see the direction we want to head in. That’s why we’re looking for investment to grow the company.”

“How much are you thinking? Let’s hear the price first before we talk about anything else. It would be awkward for both of us if we talked for a long time and the price didn’t match, wouldn’t it?”

“Aren’t you curious about what we’re trying to do?”

“Let’s talk about that after I hear the price. No matter how good the technology is, what’s the point if the price doesn’t match?”

At Park Jin-hyuk’s words, Na Min-ho realized he was different from the other investors he had met. Before, people would listen to the whole story and only discuss the investment amount at the end. They would even agree and act as if they were going to deposit the funds immediately, leading him to present his technology over the course of several days.

But when he thought about how things usually fell through in the end because the money didn’t match, he realized Park Jin-hyuk wasn’t wrong. No matter how good the technology was, it was useless if it exceeded the range of what a person could invest.

Na Min-ho opened and closed his mouth several times. His inability to easily name the amount made it seem like he had been rejected by others many times before. His confidence had dropped significantly, and he looked worried that Park Jin-hyuk would back away once he heard the number. Perhaps that was why he had tried to dress up their technology and its benefits first.

Park Jin-hyuk watched the hesitating Na Min-ho for a moment before lifting his glass.

“When you meet many people while doing business, you eventually reach a point where you can tell if someone is interested in a contract or if they’re just sitting there to pass the time. Just as you came here to meet me, I called you over because I’m interested in you. So, speak up. You can’t take a step forward if you don’t speak.”

At Park Jin-hyuk’s words, Na Min-ho finally made up his mind and spoke.

“The investment we are looking for is $10 million.”

After saying it, Na Min-ho studied Park Jin-hyuk’s reaction. Every other investor had either waved their hands or left the table after hearing that amount. With money drying up in the market, $10 million was a massive sum for a place like Psylhub.

However, Park Jin-hyuk was different. He didn’t seem surprised; he just sat there with a comfortable expression. Just as Na Min-ho began to fear that the lack of reaction meant a lack of interest, Park Jin-hyuk spoke.

“$10 million… I know nothing about the technology you mentioned, let alone Psylhub. However, I do know the scale of startup investments.”

While discussing the establishment of an investment firm with Hyun Yi-soo, Park Jin-hyuk had talked about how to manage the leftover funds after pouring money into Dongjeong Industries. Compared to the trillions invested in Dongjeong Industries, it was a small amount, but since it was still in the tens of billions of won, Hyun Yi-soo had said it was a waste to leave it idle.

The solution they came up with was investing in startups. It was a field Park Jin-hyuk felt confident in, and the returns from a successful investment were larger than in any other industry.

Coincidentally, while they were discussing such things, Na Min-ho had appeared to talk about investment. Park Jin-hyuk found the situation amusing — the very type of startup he needed to find had appeared right in front of him.

“I heard that the scale of Series A investment, which you receive after a prototype is released and marketability is confirmed, is roughly 500 million to 1 billion won. Then comes the Series B investment of about 5 billion won, which is given after checking if the product works in the market. I heard that’s where you decide whether to sell the company or go global.”

Park Jin-hyuk continued with the general startup investment knowledge he had heard from Hyun Yi-soo.

“That’s the case in our country… and if the company is in America, then Silicon Valley?”

“Yes. We are based there.”

“I don’t know what your company does, but it’s a startup in Silicon Valley. You’re likely past the seed stage… If it were Series B, you wouldn’t have come all the way to Korea. Given how desperate you look, it seems like you’re looking for a Series A investment. Am I right?”

“That’s right.”

Park Jin-hyuk deduced the facts one by one. Seeing Park Jin-hyuk looking at him as if he were held in the palm of his hand, Na Min-ho couldn’t say anything except to answer. Han Ji-yeon watched them silently from where she stood.

“You’ve traveled to many places besides here to get investment, haven’t you?”

“I’ll be honest. Yes. I’ve been to many places.”

Nodding as if he expected that, Park Jin-hyuk looked up at Han Ji-yeon. Even though he explained it simply, Han Ji-yeon didn’t understand what Series A or Series B meant. She had many questions, but she couldn’t interrupt and just listened.

“Then it seems $10 million wasn’t the amount you originally wanted either. Am I right?”

Na Min-ho looked at Park Jin-hyuk, who was sitting beside him, leaning against the armrest with a smile. It felt as if the man could see right through him, from beginning to end. Just as he said, the amount was less than half of what Na Min-ho had boldly requested when he first met investors. However, as he met more people, he realized they were overwhelmed by the amount, and as he lowered it bit by bit, it eventually dropped to $10 million.

Park Jin-hyuk nodded as if he had anticipated the silence.

“I thought so. But if I may give you some advice, don’t lower the amount you want in the future. If you manage to get investment at a lower price, where do you plan to make up the deficit? A person willing to invest $10 million is not afraid to invest $20 million or $30 million.”

Na Min-ho’s eyes widened with anticipation as he looked at Park Jin-hyuk. Seeing that look, Park Jin-hyuk patted his shoulder.

“Enjoy your weekend, and come to my office on Monday with your company profile and the materials you prepared for investors. Let’s talk more deeply then. For today, enjoy yourself. Relax.”

Park Jin-hyuk stood up after massaging Na Min-ho’s stiff shoulders with his left hand. He had figured out what kind of person he was just by talking for a short while. Unlike what Han Ji-yeon had initially feared and suspected, Na Min-ho wasn’t someone acting with a devious ulterior motive. Of course, he had used Han Ji-yeon to get close to Park Jin-hyuk, but that was a level of maneuvering he could laugh off.

As Park Jin-hyuk walked away, Na Min-ho stared at him with blank eyes.

“Is it really okay to make a decision like that without even asking what kind of company it is?”

“Would it change anything if I heard? Do you understand it now that you’ve heard the explanation, Assistant Director Han?”

“Well, that’s… developers…”

Han Ji-yeon tried to answer Park Jin-hyuk’s question, but she couldn’t give a proper response. She was just as much of a novice as Park Jin-hyuk when it came to IT.

Seeing Han Ji-yeon’s effort not to lose, Park Jin-hyuk called over a hotel employee, took a glass of champagne, and handed it to her. It was a gesture telling her to drink this instead of doing something useless. Han Ji-yeon took the glass, her pride slightly stung. For some reason, she couldn’t shake the feeling that she was constantly being swept up in Park Jin-hyuk’s pace.

“I believe in the saying that you invest in the person.”

“You’re saying you figured out what kind of person Mr. Na is in one glance?”

“Yes. I figured it out instantly.”

It was something an ordinary person couldn’t do, but for Park Jin-hyuk, it was incredibly easy. The value a person held — because there was an absolute indicator, judgment was simple.

“And since we’ve agreed to talk in detail at the office on Monday, I’ll find out more then. In any case, Mr. Na has passed the first interview.”

At Park Jin-hyuk’s words, Han Ji-yeon turned her head to look back at where Na Min-ho was. Women were beginning to gather around him as he sat alone. Park Jin-hyuk hadn’t even heard a proper explanation of the company, and they hadn’t even spent five minutes talking about investment. Han Ji-yeon couldn’t fathom what he had seen to decide the man had passed.

Park Jin-hyuk gave him high marks for his value, which was higher than anyone else in the lounge, his desperation to attract investment, and the fact that he had clearly targeted Park Jin-hyuk rather than just looking for any random investor. Although he lacked experience, that kind of sales attitude wasn’t bad for a beginner.

Following Han Ji-yeon’s gaze, Park Jin-hyuk looked at Na Min-ho and looked forward to the Monday when he would come prepared.

***

At Park Jin-hyuk’s call, Hyun Yi-soo postponed Monday’s regular meeting at DS Construction and headed to DS Pharmaceutical. They had already completed the plan to establish an investment company using the proceeds Park Jin-hyuk received from selling DS Pharmaceutical. As for the amount to be invested in Dongjeong Industries, all that remained was for DS Construction to calculate it and inform Park Jin-hyuk.

Because they had finished those arrangements, she thought there wouldn’t be any special business for a while. But Park Jin-hyuk had requested she come over, saying he had already found a company to invest in. Wondering what on earth was going on, Hyun Yi-soo went to DS Pharmaceutical on Monday morning instead of DS Construction.

“You’re here?”

“What is it? Why did the Managing Director suddenly find a company to invest in?”

Kim Jun-woo, who had come down to the lobby of DS Pharmaceutical to greet Hyun Yi-soo, shook his head as if he didn’t know either.

“I only heard about it yesterday evening as well.”

“Did the Managing Director go somewhere over the weekend?”

“He didn’t go anywhere special, he just attended a gathering for the first time in a while.”

Kim Jun-woo was just as flustered, which was why he had come down to the lobby to meet her, unlike his usual self. He wanted to tell her at least one thing he knew so she wouldn’t be caught off guard when she met Park Jin-hyuk.

“A gathering? What gathering?”

“It was a group he formed with the people he hung out with during his time studying abroad, but he hadn’t attended even once until this past weekend.”

“A gathering with the people he hung out with while studying abroad?”

“Yes.”

Hyun Yi-soo frowned. She was well aware of Park Jin-hyuk’s stories from his time studying abroad. She had even stepped in personally to clean up some of the messes he had made. Considering the trouble he caused back then, he had transformed into a completely different person, someone she could never have imagined. But hearing that he had found a company to invest in right after meeting those people made her heart feel heavy.

“What kind of place did he say it was?”

“I don’t know either. The person was already here waiting before the Managing Director even arrived for work. He looked like he was in his mid-twenties… anyway, he was very young.”

“He didn’t get scammed, did he?”

“No way. If anything, he’d be the one doing the scamming…”

Kim Jun-woo accidentally spoke his inner thoughts aloud. Hyun Yi-soo had said it as a joke, but she agreed with him. She felt that Park Jin-hyuk was much more likely to be the one scamming someone else rather than being scammed himself.

“Let’s go. Let’s see what kind of place it is.”

Curious about what kind of place it was that required her presence on a Monday morning, Hyun Yi-soo headed toward Park Jin-hyuk’s office.