#90 I Plan on Taking It. The investment I started with the 400 billion won I received from my grandfather as seed money has brought me great wealth.
“Yes, it's my company.”
Now that so many articles about Han Gyeong-yeong had been released, it was impossible for Grandfather not to know. He knew that I had asked Manager Ha to find Han Gyeong-yeong and then sent him to America. But unless he was the US administration, there was no way for him to know the exact amount of my capital.
“You started with my secret funds, didn't you?”
“Yes, I started investing with that money.”
Grandfather nodded.
But that was it. He didn't ask how much I had.
“Aren't you curious about anything else?”
“You'll handle it well on your own. Didn't you do it without my help? Then that's all that matters.”
“Thank you for believing in me.”
“Haha. You would have succeeded even without my help. I just moved the timeline up a bit. Isn't that right?”
It was true and it wasn't. Without Grandfather's support, it would have been difficult to meet Han Gyeong-yeong so early, and it would have taken much more time to grow the money.
“That's not true. Your help was immense, Grandfather.”
“That's enough. I think I'll help you one last time, and then I should rest.”
“...”
It seemed as if Grandfather had let go of many things.
“But, be careful of the Blue Wind Association. They have dug their roots deeper into the Republic of Korea than you can imagine.”
“Yes. I know.”
“Don't even think about facing them unless your chances of winning are over seventy percent.”
Grandfather added with a dark expression.
“I've managed to turn their attention away from you for now, but I don't know how long that promise will last. Do you understand what I'm saying?”
“When did you meet them?”
“I did. I met them and gave them a warning. I received a warning myself, but... they won't harm you for the time being.”
Hearing Grandfather's words, I understood why the Blue Wind Association had been so quiet even after I took Gangnam from them. Knowing how difficult it must have been for Grandfather to meet a man like Lee Yong-hyun, I was filled with nothing but gratitude.
“Thank you, Grandfather.”
“Hahaha.”
Grandfather just laughed heartily and said nothing else. The back-and-forth presidential election vote count continued late into the night, the results still unknown. Grandfather seemed tired and went in to sleep, while I went to my room to wait for the election results alone.
In the end, with 50.4% of the votes, a confirmation of victory appeared next to candidate Kim Hak-kwon's photo. The result didn't change. But because of my actions, the Blue Wind Association had made its move, and in the end, they had to support Kim Hak-kwon more actively than originally planned.
Not long after the victory was confirmed, the phone rang.
“This is Kim Mu-hyeok.” — This is the Kim Hak-kwon victory camp.
Is this Mr. Kim Mu-hyeok?
“Yes, it is.” — The president-elect would like to speak with you.
Please hold for a moment.
“Okay.”
A few minutes passed, and then Kim Hak-kwon's distinctive voice came through the phone. — Thank you. I was able to win thanks to you.
“Not at all. It was due to your own strength, candidate.” — No, no. There's no need to be humble.
I probably would have lost without your support. I'll contact Boss Han separately, but I wanted to call you first since you made the connection.
“It is an honor, Your Excellency.” — Hahaha.
The term 'Your Excellency' makes me uncomfortable. I plan to get rid of it when I become president. I'm busy now, so let's see each other next time.
“Yes, Mr. President. Goodbye.”
The short call ended. In the dark room, I stared blankly at the phone after the call had ended. The faint light from the screen disappeared, and the room was plunged into total darkness.
‘Fortunately, I managed to stop the Blue Wind Association's power from growing, but it's not like their influence is absent from candidate Kim Hak-kwon's camp either.’
Even in the past, after the change in government, the Blue Wind Association's influence hadn't diminished. The bureaucrats and assemblymen had remained the same, after all. The Blue Wind Association used them to cover the president's eyes and ears.
Did anyone think the Progressive Party was untouched by the Blue Wind Association's reach? Many of its assemblymen were likely already with them.
‘Right, this is enough for now.’
It was time to put politics aside for a moment and prepare to save the Republic of Korea. Through the window, the morning sun was timidly raising its head. The presidential election was over, but the chaos in the domestic economy was not easily contained.
In the end, candidate Kim Hak-kwon indicated his intention to accept all of the IMF's demands. I was on the phone with Eva from early in the morning.
“Eva, are the preparations going well?” — Of course, no problem, Boss.
Eva had accomplished more than I could have ever imagined. She had recruited influential figures from the Mofia to serve as outside directors for Mirae Investment, not to mention her work in the business and political worlds. Mofia is a term for officials from the Ministry of Finance, a portmanteau of Ministry of Finance and Mafia.
Though it sounds negative, their power was enough to hold the nation's economy in the palm of their hands. Eva used a lot of money to recruit them.
“Then let's begin. If you're short on money, call me anytime.” — That's reassuring to hear.
“Oh! And you know of the Peregrine company, right?” — The Hong Kong investment bank?
“There are rumors it's about to go bankrupt, so look into it. Are you interested in acquiring it?” — Really?
Is that okay? Eva's voice was excited. For a financier who had once worked in Hong Kong, the Peregrine company was that kind of entity.
“Yeah. You can handle the negotiations, right, Eva? I can't spare the attention for that.” — Boss... thank you.
I'll make sure to acquire it.
“Don't overdo it. The Hong Kong government will welcome it with open arms. They'll have no choice but to declare bankruptcy, but the symbolism of Peregrine won't disappear.” — Yeah, I know.
I know what you mean.
“If you take on their debt, you can probably acquire them for a dollar. But get as much of the debt written off as possible.” — Yes!
Boss.
“Take care of the work in Korea too, and buy up all the real estate coming onto the market as cheaply as possible. You especially have to absorb the entire supply of Eunmi Apartments.”
Until we hung up, Eva couldn't hide her excited voice. It was no wonder she was so happy. Although she had been discarded by HSBC after her usefulness was over, meeting me had given Eva the chance to aim for a comeback.
This was her chance to signal her glorious return to the Hong Kong financial world.
After finishing her call with Kim Mu-hyeok, Eva couldn't focus on anything else. She immediately contacted her people in Hong Kong to ask about the Peregrine company and found that, just as Kim Mu-hyeok had said, rumors were circulating that it would soon go bankrupt.
“Keep looking into it. I'm flying to Hong Kong first thing tomorrow. I'll reward you handsomely, so do a thorough job.” — Eva.
What kind of connection did you land?
“Hoho. A killer boss. See you tomorrow.”
The Peregrine company was a firm with considerable significance in Hong Kong. It was established by a coalition of overseas Chinese capital and grew rapidly during Asia's economic boom. In less than ten years, it had grown over forty-fold, earning a reputation as the best investment bank in Hong Kong, no, in Asia.
Eva was sincerely grateful to Kim Mu-hyeok for giving her the opportunity to acquire such a company. After finishing her preparations to leave for Hong Kong, Eva arrived at the airport and called Kim Mu-hyeok.
“Boss. I'm heading to Hong Kong now.” — Work hard.
“I'll repay you with results you can be satisfied with.” — Hahaha.
Alright.
After hanging up, Eva smiled as she stared at her phone for a long while.
‘Looks like I'll be welcoming the new year in Hong Kong.’
The plane carrying Eva left Korea, leaving a long trail behind it.
Pyeongchang District was bustling with the chairmen of large corporations coming to see Grandfather day after day. The fact that the dollar exchange rate was nearing 2,000 won was one thing, but with dollars becoming impossible to find, the conglomerates could not simply wait for government support.
Just as I had said, Grandfather would use the dollar as a weapon to obtain many things from these corporations that money couldn't buy. Trusting in Grandfather, I decided to do what I had to do. As I was lost in thought, the sliding door opened.
I stood up and greeted him.
“Prosecutor General Yoon, it's been a long time.”
“Haha. It has been a long time.”
Prosecutor General Yoon, looking much better than before, smiled and sat down.
“I can't tell if the weather is cold, or if the world is cold.”
“Yes. It's a difficult winter.”
As Prosecutor General Yoon said, the Republic of Korea was going through a difficult winter in 1997.
“I've heard that Pyeongchang District is as busy as a marketplace. Chairman Cheon must be enjoying his second golden age.”
“Hahaha. He's having a hard time.”
“Even if it's hard, isn't this a spring that won't come again?”
This Prosecutor General Yoon had become a true politician.
“Hahaha. Perhaps so.”
“So, what brings you here today?”
Prosecutor General Yoon didn't seem too worried, even with the government about to change. And for good reason. Although the current administration appointed him as prosecutor general, he didn't work as the regime's hunting dog.
All this time, Prosecutor General Yoon had been using all of his authority to conduct intense investigations into white-collar criminals, constantly making headlines.
“It's time to go after the Jungwoo Group.”
Prosecutor General Yoon's smiling face hardened in an instant.
“The Jungwoo Group...”
“You've investigated them, haven't you?”
“I have. They're no joke. It's gotten to the point where arresting them immediately wouldn't be enough. Accounting fraud is a given, and then there's embezzlement, slush fund creation, illegal loans. There are too many laws they've broken, even violations of the Foreign Exchange Management Act.”
Shaking his head, Prosecutor General Yoon asked with a slightly worried expression.
“But if we investigate the Jungwoo Group now, will the public like it? If the third-largest conglomerate in the business world collapses, it will be no small matter.”
The collapse of the Jungwoo Group was not something to be taken lightly. Although the Asin Group had recently fallen, the rest of the top ten conglomerates were still holding on. But if the Jungwoo Group were to collapse as well, the aftermath would likely be unimaginable.
“Public opinion isn't what's important. It's a boil that's about to burst from being too swollen. Lancing it quickly is better for the country. You know that you can't get anything done if you chase short-term popularity, don't you?”
“Hmm...”
Prosecutor General Yoon was lost in thought with a dark expression. After a long moment of contemplation, he opened his mouth. The answer was already decided.
“When should we begin?”
“Let's start after the presidential inauguration next year.”
“It will be a burden for President-elect Kim Hak-kwon. The relationship between Chairman Park Dae-ho of the Jungwoo Group and President-elect Kim Hak-kwon is a close one.”
The chairman of the Jungwoo Group was a peculiar man. He preached globalization and, despite the foreign exchange crisis, did not stop investing abroad. He grew his company through aggressive mergers and acquisitions under the protection of the military regime.
But it was nothing more than a castle of sand built on debt. He would use his friendship with the president to evade taxes using the gold bars collected from the gold-collecting campaign that was set to begin next year.
“I know. That's why I'm saying we should do it after the inauguration next year. I'll handle things so that the president absolutely cannot inject public funds. All you need to do, Prosecutor General, is handle it according to the law. So that there is absolutely no escape.”
Prosecutor General Yoon couldn't help but be mindful of Kim Hak-kwon, who was about to become president. But right now, during the transition period, was when the president's power was at its strongest. It would be easier after the inauguration.
“As soon as you start the investigation, major media outlets will start publishing negative articles about the Jungwoo Group. Economic officials from various countries, including the IMF, will pressure the government. The Jungwoo Group is a tasty morsel for them as well.”
Among the conditions demanded by the IMF, the one most strongly reflecting Wall Street's demands was the expansion of liberalization, centered on the financial and capital markets. Simply put, it meant allowing mergers and acquisitions by foreigners. The corporations of the Republic of Korea were a tasty morsel for investors.
They wanted to dismantle the unique corporate structure built on circular shareholding.
“If there's pressure from America, the president won't be able to move easily either.”
“Yes. I will ensure no harm comes to you, Prosecutor General. But we can't just give our country's companies to foreigners. I plan on taking it.”
“You will?”
“Yes. I plan to liquidate the insolvent companies and acquire the profitable ones. With Dreamhigh Investment's funds, there will be no problem with the acquisition.”
“Isn't that American capital in the end?”
I smiled and looked at Prosecutor General Yoon's worried face.
“Money has no borders. It only changes depending on who wields it. The government will probably also prefer that Han Gyeong-yeong acquires it. It's obvious that hyena-like investment firms will rush in.”
My plan was to use Eva to take a hostile position and participate in the acquisition battle, while Han Gyeong-yeong would take a position that suited the government's tastes and join the fray. A fight between Eva and Han Gyeong-yeong. Whatever the outcome, it's a game I'm guaranteed to win.
“The Jungwoo Group. I must take it, Prosecutor General.”
< I Plan on Taking It. > End