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Chapter 24 - Episode 23: The Counter-Offer

July 2, 2006

Day 245 of Ascension

Title: The Chessboard Expands

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Dawn arrived with the promise of storms. Je-hoon watched the sky darken through the orphanage window, calculating the day ahead. The VC offer hung in the air—₩500 million, 60% control. A fork in the road.

He dressed in his custom shirt, the light blue fabric now familiar armor. Today required both businessman and boy.

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07:30 AM, The Strategy Session

Before school, Je-hoon convened his inner circle in the library. Mrs. Shin with her legal pad, Dr. Lee with medical journals, Mr. Han via speakerphone.

"The VC offer," Je-hoon began, placing Lee Ji-won's card on the table. "₩500 million for 60% of Formula H-1 IP."

Mrs. Shin whistled softly. "That values the formula at over ₩800 million already."

"Premature," Dr. Lee cautioned. "Phase 1 results are promising, but proper trials cost millions. They're betting on potential."

Mr. Han's voice crackled through the speaker. "Take the money. Build something bigger."

"Or lose control," Je-hoon countered. "VCs want returns in 3-5 years. They'd push for quick commercialization, possibly cutting corners on trials, pricing it out of reach for our clinic patients."

Silence as they considered.

"I propose a counter-offer," Je-hoon said. "₩300 million for 30% equity. We retain control, they get substantial stake. Plus: manufacturing rights stay with Blue Bird participants, and 20% of production must be donated to low-income clinics."

Mrs. Shin raised an eyebrow. "They'll balk at the conditions."

"Then we find other investors. Or bootstrap slower."

Dr. Lee nodded. "Medical ethics matter. This isn't just a product; it's healing."

Decision made. Je-hoon would draft the counter today.

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09:00 AM, The School Interlude

At SNU's Saturday advanced class (summer session), Professor Kang pulled Je-hoon aside after a complex topology problem.

"You solved that like you've seen it before."

"I recognize patterns."

"The university hospital is talking about you. A boy who understands wound biochemistry."

Word was spreading faster than intended.

"Merely assisting Dr. Lee," Je-hoon deflected.

"Be careful, Je-hoon. Medical breakthroughs attract... attention. The kind that doesn't always have patient welfare in mind."

A warning from an unexpected quarter. Je-hoon filed it.

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11:30 AM, The Timer Redesign

At Mr. Han's shop, the Chinese microcontrollers sat in customs limbo. Je-hoon examined alternative chips—American-made, more expensive but available.

"Redesign cost?" he asked.

"₩50,000 for new PCB design. Unit cost increases ₩800."

"Acceptable. Proceed."

But as they worked, a delivery arrived: the Chinese shipment, suddenly cleared. Documentation "miraculously" complete.

Mr. Han examined the boxes. "Pressure works both ways."

Je-hoon analyzed. Park Joon-ho had blocked, then unblocked. A demonstration of power: I can disrupt you, and I can allow you.

Message received: he was being watched, manipulated.

"Use the Chinese chips for now. But continue American redesign as backup. Never single-source."

Redundancy upon redundancy.

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14:00 PM, The Hospital Visit

Min-ji's burns showed marked improvement. The adjusted Formula H-1 protocol—with increased zinc and pulsed lavage—had reduced inflammation by 70% in 48 hours.

Dr. Kim showed Je-hoon the before-and-after photos. "Clinically significant. The parents are believers now."

Min-ji smiled shyly when Je-hoon approached. "It hurts less."

"Good. You're healing well."

Her mother gripped his hand. "Thank you. They said she might need skin grafts. Now... maybe not."

The human impact, beyond data points. Je-hoon felt something unfamiliar—a warmth that wasn't just satisfaction at system optimization.

"Continue the treatment. Full healing likely in two more weeks."

As they left the ward, Dr. Kim said quietly, "There's a pharmaceutical rep asking questions. About our 'novel topical.'"

"Which company?"

"Global. Not Korean."

The VC offer might not be the only interest. The chessboard was expanding internationally.

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16:00 PM, The Counter-Offer Draft

Back in the library, Je-hoon drafted the counter-proposal. Precise language, structured to appeal to both profit and principle:

"MediSynth Solutions Counter-Proposal"

1. Equity: ₩300 million for 30% (valuing company at ₩1 billion post-money)

2. Board: MediSynth retains 3 of 5 seats

3. Manufacturing: Blue Bird Foundation retains rights, 20% production for charitable distribution

4. Trials: Phase 2/3 designed for both efficacy and accessibility

5. Exit timeline: 7-10 years, not 3-5

He included the latest clinical data, the hospital case study, market analysis showing not just diabetic wounds but burns, surgical sites, chronic ulcers.

A complete package. Professional. Confident.

He emailed it to Lee Ji-won at 4:47 PM. Now the waiting game.

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18:00 PM, The Unexpected Alliance

Soo-jae arrived unannounced, her usual elegance frayed at the edges. "Joon-ho is making moves. Trying to revoke the foundation partnership before first disbursement."

"Grounds?"

"'Conflict of interest'—claiming the foundation's commercial activities violate non-profit status."

"The inspection found us compliant."

"He'll find another inspector." She sank into a chair. "I'm fighting, but... it's exhausting."

Je-hoon prepared coffee—Brazilian Santos, smooth and comforting. "We have data. Transparency. And your board allies."

"Allies are fickle when power shifts." She sipped, closed her eyes. "My father... he's fading faster. The brothers are positioning. I'm... collateral."

He saw it then—the weight she carried. Not just corporate politics. Family betrayal.

"You could walk away," he said softly.

"And go where? This is my inheritance too. Not just the money. The responsibility." She met his eyes. "You understand responsibility. Building something that matters."

He nodded. They were mirrors in that way—both building while others played games.

"I received a VC offer for Formula H-1," he told her.

Her eyebrows rose. "Amount?"

"₩500 million for 60%. Countered with ₩300 for 30%."

"Smart. Retain control." She considered. "If they refuse... HJ Group's healthcare division might be interested. Less control than VC, more strategic alignment."

A new possibility. "Would your position allow that?"

"If I still have a position next month." A bitter smile. "But yes. I could broker introduction."

The alliance deepening, becoming strategic partnership.

They discussed details until the sky darkened fully.

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20:30 PM, The VC Response

The email arrived as Soo-jae left:

"Mr. Kim—

Counter-proposal received. Unconventional terms but intriguing. Request meeting Wednesday 10 AM at our offices. Bring Dr. Lee.

—Lee Ji-won"

Positive sign. They were engaging, not dismissing.

Je-hoon scheduled the meeting. Prepared talking points.

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21:45 PM, The Network Update

Before bed, Je-hoon updated his systems:

Capital: ₩1,525,000

Monthly Run Rate: ₩92,000 (increased with redesign costs)

Runway: 16.5 months

Pipeline:

· Timer orders: 112 units (₩2,016,000 revenue potential)

· Formula H-1: VC negotiations, HJ Group possibility

· Foundation: First HJ disbursement pending (₩6,250,000 if cleared)

· Medical: Two more hospital consultations requested

Risks:

· Park Joon-ho's regulatory attacks (moderate)

· VC deal falling through (low)

· Manufacturing disruptions (low, with redundancy)

· Medical visibility attracting wrong attention (increasing)

The foundation held, but pressures mounted.

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22:30 PM, The Calculation

Rain finally fell, heavy against the window. Je-hoon lay in the dark, listening.

Today had revealed:

1. Strength: The system responded to multiple pressures simultaneously

2. Growth: Opportunities expanding (VC, hospital, HJ healthcare)

3. Vulnerability: Visibility increasing, family politics entangling

4. Human element: Min-ji's healing, Soo-jae's burden—emotions mattered too

ZEO processed, optimized, but Je-hoon felt something beyond calculation: the weight of building something real. Not just systems. Lives impacted. Alliances forged. A future being constructed day by day.

He thought of Soo-jae's tired eyes. Of Min-ji's smile. Of Mrs. Shin's precise legal mind. Of Mr. Han's practical hands.

He wasn't just building a foundation. He was building a community. A network. A... family of choice.

The orphanage slept around him. The rain whispered secrets.

Tomorrow: Sunday. Free clinic. More patients. More healing.

The work continued. The foundation grew.

The boy built.

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𝘿𝙖𝙮 245: 𝙏𝙝𝙚 𝙘𝙤𝙪𝙣𝙩𝙚𝙧-𝙤𝙛𝙛𝙚𝙧

1 𝙫𝙘 𝙤𝙛𝙛𝙚𝙧: 𝘾𝙤𝙪𝙣𝙩𝙚𝙧𝙚𝙙

1 𝙖𝙡𝙡𝙮 𝙨𝙩𝙧𝙚𝙣𝙜𝙩𝙝𝙚𝙣𝙚𝙙: 𝙎𝙩𝙧𝙖𝙩𝙚𝙜𝙞𝙘 𝙥𝙤𝙨𝙨𝙞𝙗𝙞𝙡𝙞𝙩𝙞𝙚𝙨 𝙤𝙥𝙚𝙣𝙞𝙣𝙜

1 𝙥𝙖𝙩𝙞𝙚𝙣𝙩 𝙝𝙚𝙖𝙡𝙞𝙣𝙜: 70% 𝙞𝙢𝙥𝙧𝙤𝙫𝙚𝙢𝙚𝙣𝙩

1 𝙨𝙮𝙨𝙩𝙚𝙢 𝙧𝙚𝙨𝙥𝙤𝙣𝙙𝙞𝙣𝙜: 𝘼𝙡𝙡 𝙥𝙧𝙚𝙨𝙨𝙪𝙧𝙚 𝙥𝙤𝙞𝙣𝙩𝙨 𝙖𝙙𝙙𝙧𝙚𝙨𝙨𝙚𝙙

𝙏𝙝𝙚 𝙘𝙝𝙚𝙨𝙨𝙗𝙤𝙖𝙧𝙙 𝙚𝙭𝙥𝙖𝙣𝙙𝙨. 𝙉𝙤𝙩 𝙟𝙪𝙨𝙩 𝙤𝙧𝙥𝙝𝙖𝙣𝙖𝙜𝙚 𝙫𝙚𝙧𝙨𝙪𝙨 𝙬𝙤𝙧𝙡𝙙 𝙖𝙣𝙮𝙢𝙤𝙧𝙚. 𝙉𝙤𝙬: 𝙫𝙚𝙣𝙩𝙪𝙧𝙚 𝙘𝙖𝙥𝙞𝙩𝙖𝙡, 𝙝𝙤𝙨𝙥𝙞𝙩𝙖𝙡𝙨, 𝙘𝙤𝙧𝙥𝙤𝙧𝙖𝙩𝙚 𝙙𝙞𝙫𝙞𝙨𝙞𝙤𝙣𝙨, 𝙛𝙖𝙢𝙞𝙡𝙮 𝙥𝙤𝙡𝙞𝙩𝙞𝙘𝙨. 𝙏𝙝𝙚 𝙗𝙤𝙮 𝙞𝙨 𝙣𝙤 𝙡𝙤𝙣𝙜𝙚𝙧 𝙟𝙪𝙨𝙩 𝙖 𝙥𝙡𝙖𝙮𝙚𝙧. 𝙃𝙚'𝙨 𝙗𝙚𝙘𝙤𝙢𝙞𝙣𝙜 𝙖 𝙥𝙞𝙚𝙘𝙚 𝙩𝙝𝙖𝙩 𝙢𝙪𝙡𝙩𝙞𝙥𝙡𝙚 𝙜𝙖𝙢𝙚𝙨 𝙖𝙧𝙚 𝙛𝙞𝙜𝙝𝙩𝙞𝙣𝙜 𝙤𝙫𝙚𝙧. 𝘿𝙖𝙣𝙜𝙚𝙧𝙤𝙪𝙨. 𝙋𝙤𝙬𝙚𝙧𝙛𝙪𝙡. 𝙄𝙣𝙚𝙫𝙞𝙩𝙖𝙗𝙡𝙚.

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End Episode 23

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