#88 Returning Home in Glory Han Gyeong-yeong's arrival in Korea was excellent fodder for the Korean press. Han Gyeong-yeong was a figure who possessed all the ingredients the Republic of Korea's media loved. A Korean immigrant who had settled in America was making a name for himself on New York's Wall Street, the center of global finance.
This was a chance to raise the nation's standing, which had been lowered by the IMF crisis. Even before his arrival, many feature articles had already decorated the pages of newspapers.
[A young investor from the Republic of Korea conquers New York, the heart of finance] Along with such sensational headlines.
Han Gyeong-yeong was flustered. The moment he came out after clearing immigration, he was nearly blinded by the sudden burst of camera flashes.
“Mr. Han Gyeong-yeong, please tell us the secret to your investment success!”
“What is your reason for coming to Korea?”
Han Gyeong-yeong couldn't even react to the sudden barrage of questions and just looked around.
“Please say a word of comfort to the people!”
“Did you come to invest in Korea?”
Han Gyeong-yeong hesitated, unsure of what to say. Just then, a group of people pushed through the reporters and appeared.
“Mr. Han Gyeong-yeong? Please come with us.”
Han Gyeong-yeong frowned at their attempt to brusquely take him away without any explanation. The reporters, as if they knew who the men were, continuously snapped pictures.
“Let's go, Mr. Han Gyeong-yeong.”
At their persistent urging, Han Gyeong-yeong answered in English.
“Who are you to tell me to come and go? Am I your subordinate?”
Even people from the US Treasury Department didn't treat him like this. So for a group of strangers to suddenly swarm him and demand he follow, it was only natural for him to be offended. A few reporters who knew English and the men in the group gaped at Han Gyeong-yeong's response.
“So, who are you?”
The man who appeared to be the leader replied in English.
“I am Hong Tae-soo from the Blue House's secretarial office. His Excellency wishes to see you.”
Hong Tae-soo thought that now he had revealed his identity, Han Gyeong-yeong would bow down. However, Han Gyeong-yeong's reaction was completely different from what he had expected.
“Hahaha, do I look like a citizen of the Republic of Korea to you? I am an American citizen. If you wish to meet me, make an appointment first. It doesn't matter where you're from. And don't order me around so forcefully.”
Hong Tae-soo and the other people from the secretarial office were momentarily speechless, staring blankly at Han Gyeong-yeong's face. Han Gyeong-yeong ignored them and spoke to the reporters in Korean.
“Reporters, I'm still feeling out of sorts from the jet lag. I will hold a separate press conference or interview next time. I ask for your understanding.”
But they wouldn't be reporters from the Republic of Korea if they backed down so easily.
“Just one word, please. What is your reason for entering Korea?”
“What are your thoughts on the current state of the Korean economy!”
Ignoring them, the questions continued, and in the end, Han Gyeong-yeong pointed to one reporter.
“I will answer only one question. The reporter over there. Yes, that's right.”
The reporter chosen by Han Gyeong-yeong came forward with a bright smile. Envy was visible in the eyes of all the other reporters.
“Please say a word about our Korean economy. We recently handed over our economic sovereignty to the IMF. Please tell us your thoughts on this matter.”
“Hahaha. I said I would answer one question, but that's two.”
Han Gyeong-yeong let out a laugh, momentarily lightening the mood, before answering the reporter's question.
“I believe the currently staggering Korean economy can get back on its feet quickly. That's why I came to Korea, and I plan to invest in Korea. I believe in the underlying strength of the people of the Republic of Korea. Haven't we all experienced the miracle on the Han River?”
Han Gyeong-yeong gestured with his hands as he offered these encouraging words.
“You said we handed over our economic sovereignty to the IMF, but it was an unavoidable choice. Their demands may be excessive, but in the end, there is no choice but to open the capital market. You cannot develop in isolation. I think this foreign exchange crisis is a time for both the Korean government and its people to be vigilant.”
With those words, Han Gyeong-yeong tried to leave with his bodyguards. But Hong Tae-soo and his men blocked his path.
“I said the VIP wishes to see you. If you act like this, you will find your life in Korea to be very inconvenient.”
Hong Tae-soo threatened in a low voice. Han Gyeong-yeong stared at Hong Tae-soo's face in silence for a while, then burst out laughing in disbelief.
“Hahaha! This is ridiculous. Look here, Mr. Hong Tae-soo. Even Camdessus, whom you people bow and scrape to, has to make an appointment to meet me. It seems the government of the Republic of Korea still hasn't figured out how things work. Get out of my way, before I lodge a formal protest through the US government.”
This time it was in Korean, not English, so all the reporters heard it clearly. It goes without saying how powerful the Blue House's secretarial office is in the Republic of Korea at this time. Hong Tae-soo couldn't hide his flustered expression.
In all his time working for the Blue House's secretarial office, he had never been treated like this by anyone. At first, he was dumbfounded, but soon he became angry.
“Mr. Han Gyeong-yeong! Are you trying to take this to the end?”
Hong Tae-soo raised his voice. Just as Han Gyeong-yeong was about to say something again, another person came running.
“Hello, James. I'm from the US embassy. Is there a problem?”
They were employees from the US embassy who had come to assist with Han Gyeong-yeong's entry. Han Gyeong-yeong pointed a hand toward Hong Tae-soo's group.
“These people are blocking my way.”
The embassy official glanced at Hong Tae-soo, then turned back to Han Gyeong-yeong with a smile.
“We will take care of it. You may go.”
“Yes, thank you.”
Han Gyeong-yeong left the dumbfounded people from the Blue House's secretarial office behind and exited the airport, guided by the US embassy official. The embassy official who remained behind turned to Hong Tae-soo and spoke in a tone of disbelief.
“You're from the Blue House's secretarial office? By what authority are you harassing a US citizen? We will be lodging a formal protest.”
“No... that's not it.”
“James Han is an important figure in America as well. As an ally, we are disappointed.”
The embassy official's face was filled with contempt for Hong Tae-soo. As if he had said all he needed to, the embassy official immediately turned away. Hong Tae-soo could only stare at his retreating back.
That afternoon, Han Gyeong-yeong's interview was featured on the front page of the evening papers.
[Wall Street Legend Han Gyeong-yeong, 'The Korean Economy is Strong'] [Han Gyeong-yeong says the Korean Economy will soon recover] Nowhere in the evening papers was the confrontation between the Blue House officials and Han Gyeong-yeong mentioned.
This was the reality of the Republic of Korea.
“Hahaha!”
I was secretly at the hotel where Han Gyeong-yeong was staying. I couldn't help but laugh after hearing about the trouble Han Gyeong-yeong had with the Blue House officials at the airport.
“I would have normally let it slide, but when I saw their expressions, I just couldn't stand it.”
“That place is still overflowing with authoritarianism. The Blue House never changes.”
Han Gyeong-yeong shook his head from side to side, the memory still unpleasant.
“I was planning to give them some lip service, but I didn't expect to be treated like this. They don't even do this in America.”
“They thought of you as a Korean.”
Choosing Han Gyeong-yeong had been an excellent decision. Being an American citizen held so much power in Korea at this time. If he had accumulated such wealth while holding Korean citizenship, the hyenas would have surely pounced on him long ago.
“They'll probably contact you again, maybe even tonight.”
It was obvious they would have mobilized the National Intelligence Service to keep an eye on things here. My connection to him would be revealed, but it didn't matter. I would have to be careful when meeting Eva, but my relationship with Han Gyeong-yeong would only be beneficial to me, not harmful.
“If they invite you again politely, you should go to the Blue House. When else would you get a chance to go to a place like that?”
“Hmph... I don't even want to think about it right now.”
Indeed, it seems the bureaucrats of the Republic of Korea will never learn. Han Gyeong-yeong's status was greater than they imagined. A legend of Wall Street, a member of the Wall Street cartel.
Those titles couldn't be earned just by having a lot of money. It meant he held a terrifying amount of influence in America.
“For the time being, Michael and the bodyguards will protect you, but Eric's people will be coming to Korea soon. From then on, they'll provide you with proper security, so just be aware of that.”
“You're already planning to open a branch in Korea?”
“Of course. I've prepared a trustworthy security team first. I can't use Park Dong-soo's underlings as bodyguards.”
“That's true.”
After a bit more small talk, we got down to business.
“You'll use the money from the New York corporation to invest in stocks and companies. I'll give you a list separately. The government will probably make a lot of demands of you.”
Han Gyeong-yeong, understanding what I meant, gave a small nod in response.
“What are you going to do about the ghost companies?”
I hadn't told Han Gyeong-yeong about Eva's existence yet. It was about time I told him the plan.
“There's someone named Eva who takes orders directly from me. But she has no connection to you, so no one will think you're on the same team. Eva doesn't know you're my person, either. And of course, she doesn't know that I'm the owner of Dreamhigh Investment.”
I had no intention of telling Eva everything. Han Gyeong-yeong, however, was different. As I slowly explained the plan, Han Gyeong-yeong nodded in understanding and continued to listen to me in silence.
“You will maintain a good relationship with the government and continue investing in companies. As per the IMF's demands, the restrictions on foreign investment will be lifted.”
“So I'm the good cop, and this Eva person is the bad cop.”
“Yes, you understand perfectly. Eva will be like a hyena, treading the line between legal and illegal, greedily sucking up everything.”
My plan was this. When Eva shows signs of hostilely targeting companies that are up for sale, Han Gyeong-yeong will jump into the acquisition battle as Korea's white knight. Then, after getting as much debt forgiven as possible, we will acquire them at a low price.
After that, we'll use Dreamhigh Investment to gather as many shares as possible and then voluntarily delist the company. Listed companies can raise funds easily, but they also come with many restrictions. Unlisted companies, however, have fewer restrictions.
It's not like we were short on money, so there was no need to remain listed.
“I understand. What I have to do.”
“After your meeting with the Blue House is over, have a meeting with the Progressive Party candidate, Kim Hak-kwon. It would be good for us if he becomes president.”
I didn't tell Han Gyeong-yeong about the existence of the Blue Wind Association.
“Do we have to? The Conservative Party would be fine too, wouldn't it?”
“No, if the Conservative Party takes power, it could lead to some headaches.”
I didn't give a detailed explanation, but his faith in me was now firm, and he didn't object any further. A short while later, just as I had predicted, the Blue House sent someone to Han Gyeong-yeong again with a polite invitation.
Han Gyeong-yeong visited the Blue House, had a private meeting with the president, and laid on the flattery thick. Although his answers were vague and noncommittal, the government immediately released them as news articles. A few days later, Han Gyeong-yeong and I secretly met with the Progressive Party candidate, Kim Hak-kwon.
The presidential election was less than a month away. Kim Hak-kwon, the Progressive Party's presidential candidate whose approval ratings had yet to rebound, would be desperate for Han Gyeong-yeong's support.
“A pleasure to meet you. I am Kim Hak-kwon.”
“I am Han Gyeong-yeong, candidate.”
Even Han Gyeong-yeong could not be arrogant in front of a living political titan of the Republic of Korea. After the two exchanged greetings, Kim Hak-kwon finally looked at me and spoke.
“First time we've met. You're Chairman Cheon's grandson? I heard you've given a lot of help to our camp.”
“Yes, candidate.”
To run a single presidential election, a party had to scrape together all its funds, enough to pull up its very foundations. Of course, legal campaign funds could be reimbursed if a candidate received over 15% of the votes, but an election wasn't an event that could be run on legal campaign funds alone.
It was an era where astronomical sums of money poured into the camps as a matter of course. However, most of the large corporations only made a show of supporting Kim Hak-kwon, while providing large sums of money to the Conservative Party.
In that respect, my help might have been a great benefit to the camp, but Kim Hak-kwon probably wasn't entirely pleased. 'Still, it's not right to make a face like that in front of someone,' I thought. The way Kim Hak-kwon treated Han Gyeong-yeong and me was completely different.
“I didn't know you were acquainted with Mr. Han Gyeong-yeong. The legend of Wall Street and the heir of Myeon District...”
Kim Hak-kwon acted as if I wasn't there and turned his head toward Han Gyeong-yeong. I suppressed a chuckle that was about to escape. This man hasn't learned his lesson either.
< Returning Home in Glory > End