The Genius Grandson Of The Cash King Becomes A Tycoon [EN]: Chapter 65

#065

“Looks like he was quite pleased with what you do. He even gave you precious wild ginseng. Seems like it’s a hundred years old.”

“Really? How does Grandma know?”

Jeong-hoon’s eyes widened.

“You rascal, I eat it every year, so I know it well. This is wild ginseng. You wouldn’t know, though. Hehehe.”

Hyeon Jeong-ok felt good that her grandson had received such a valuable gift.

“Let’s eat this today.”

“Pardon?”

Jeong-hoon frowned.

“Eun-soo.”

Grandma called Eun-soo, who was in her room, out to the living room.

“Eun-soo, you haven’t looked well lately. Come here and open your mouth.”

“Yes?”

Eun-soo’s eyes darted around, unsure of where to look.

She looked at Jeong-hoon, reaching out for help.

“That’s right, Grandma. Eun-soo hasn’t been feeling well lately. I think Eun-soo should eat it instead of me. Eun-soo, eat this.”

“What is it?”

“Wild ginseng.”

“Ugh… I’m okay. You eat it, Grandma. Or give it to Jeong-hoon.”

“Don’t even think about it, you two. I’ll cut off your cards if you don’t eat it.”

Jeong-hoon chuckled inwardly.

Eun-soo felt the same way.

But it was a grandson’s duty to play along with such threats.

“Okay, I got it. But Grandma, please take care of this.”

“What are you talking about?”

“An employee at our company took out a private loan and got badly burned. Please go to Myeong-dong [a bustling shopping district in Seoul] and teach them a lesson.”

Jeong-hoon recalled his past life.

Right after the IMF crisis [International Monetary Fund bailout, a period of severe economic hardship in South Korea], the Interest Limitation Act was abolished.

Myeong-dong was now a ‘no man’s land.’

The huge illegal private loan market was being replaced by high-interest loan companies.

Japanese loan companies, using Korean-Japanese as fronts, dominated the high-interest loan market, making hundreds of billions of won every year.

That was this year.

He had to seize it now.

“Alright, that’s not difficult. I promise. Now eat this.”

Jeong-hoon chewed on a root as it was.

Eun-soo also ate it, grimacing.

Grandma also ate a root.

Being young, he didn’t notice much difference.

But Eun-soo was different.

She felt more energetic.

The next day, in her study, Hyeon Jeong-ok looked at the documents Jeong-hoon had shown her.

“Hey, what’s the atmosphere like in the Myeong-dong private loan market these days?”

“With the Interest Limitation Act abolished due to the IMF, high-interest private loans are resurfacing. Moreover, illegal debt collection seems to be rampant,” Man-ho said cautiously.

The Interest Limitation Act, which regulated the legal maximum interest rate, was abolished on January 13, 1998, after the 1997 financial crisis. Until it was reinstated in 2007, the Myeong-dong private loan market returned to its former dog-eat-dog state.

“Hmm, I see. I should go to Myeong-dong once.”

“Yes, I will prepare.”

Man-ho also thought it was necessary to clean up the high-interest loan sharks that had been popping up recently.

If left unchecked, the damage to ordinary people would increase, and the police or prosecutors would crack down. Eventually, the Madam’s business would also be affected.

The Myeong-dong private loan market was autonomously purifying itself while coexisting with power.

“But where did the young master suddenly get this idea?”

“He must have heard that someone was suffering because of private loans and wanted to help.”

“The young master has such a warm heart.”

“Yes, he does. But I don’t think he showed me these documents just for that one reason.”

“Perhaps. He probably has other intentions.”

“I wonder what kind of scheme he’s planning.”

“Did he say anything else?”

“He said he wanted to see my friends.”

“If it’s the Elder’s friends, then…”

“Yes. It seems like it’s time to introduce the Four Kings to him. I hope Jeong-hoon won’t be intimidated.”

“Elder, two of them have already colluded with the Cheonji Association [likely a powerful organized crime group]. Only Chairman Park and Chairman Bang have not yet allied with them.”

“We shouldn’t turn them into enemies. Chairman Hwang and Chairman Lee didn’t collude with the Cheonji Association because they liked them. It’s because they like money.”

“All I can do for Jeong-hoon is introduce them. Whether he makes them enemies or allies depends on his ability.”

“Understood. I will contact them and make an appointment.”

Neither Man-ho nor Hyeon Jeong-ok could grasp Jeong-hoon’s thoughts.

Japanese high-interest loan companies that started their business in late 2002 and swept away hundreds of billions of won every year.

They spent huge amounts on marketing and TV commercials.

People who couldn’t get loans from banks rushed to loan companies and borrowed at high interest rates.

Lower interest rates than illegal private loans, legitimate companies, and a clean image attracted people in need of quick cash.

***

More than a month had passed since the Korean national football team’s World Cup semi-finalist achievement, and the heat wave was in full swing.

Lim Chang-jung’s song ‘Sad Monologue’ was enjoying its peak popularity, topping the music charts for three consecutive weeks.

Hyeon Jeong-ok’s Rolls Royce pulled up in front of Samsung Finance’s old office.

“Jeong-hoon, go and take care of it. It’s something that can be done without me. Come back as soon as possible. I have someone to introduce you to today.”

“Who are you talking about?”

“With you, one is a friend, two are traitors, and one is someone you can’t read. They’re the old geezers you’ve been curious about, Jeong-hoon.”

“Yes, Grandma. I’ll be back soon.”

He smiled slightly, opened the door, and stepped outside.

Listening to his grandmother’s words, Jeong-hoon intuitively knew they were the Four Kings of Myeong-dong.

They were figures he had only heard about in news articles in his past life.

No one knew their real names or faces.

Only the lenders above a certain level knew of their existence, and only a very few people knew their faces.

He felt a little nervous at the thought of his grandmother introducing them.

Opening the door of the old office, the stale smell of cigarettes rushed to his nose.

And even a musty smell.

Eun-soo loved fragrance and hated bad smells.

A place that emitted a pathologically hated stench.

Eun-soo didn’t want to stay long.

Eun-soo, who hated unpleasant things…

…didn’t engage in unnecessary conversation.

She used her fists and feet to make the people in the office kneel.

“Boss.”

Jeong-hoon spoke.

“Who are you? You can’t do this to us. You’ll be in big trouble.”

The boss, who had been thoroughly beaten by Eun-soo, gave a polite warning.

“Shh, my friend doesn’t like being here for long. Now, bring the documents. And the phone.”

“Madam Hyeon is backing us.”

“What? Hyeon Jeong-ok?”

“Yes.”

The man gave a bitter smile.

Jeong-hoon pretended to be startled, and he slowly stood up.

“It’s difficult if you do this out of the blue. You can’t solve things with violence.”

Eun-soo next to him had a dumbfounded look on her face.

“We are people under Hyeon Jeong-ok. If you stop here, we won’t make a bigger deal out of it.”

“Really? We’ll talk about that later. First, bring Yoo Min-cheol’s documents.”

“Yoo Min-cheol? Ah, Donghoon Development’s Manager Yoo. Hey, bring Mrs. Lee Ji-soo’s documents.”

Judging by the fact that he remembered the names, it was clear that there weren’t many customers.

Jeong-hoon scanned through them.

“Wow, you borrowed ten million won [approximately $8,000 USD, amount adjusted for the time period], and the interest is 10 percent per month. So you’ve been extorting 12 million won in interest every year?”

Jeong-hoon asked with surprised eyes, and he shrugged his shoulders and replied.

“But we didn’t charge late payment interest. Isn’t this industry all about extorting 50 million won from a 10 million won loan with late payment interest?”

“You’re amazing. You’re under Hyeon Jeong-ok’s wing?”

Jeong-hoon asked the man once again.

“Yes, Hyeon Jeong-ok, the Cash King. We are one of her affiliates.”

Thinking that his threat was working, he straightened his shoulders.

“I will pay off Lee Ji-soo’s remaining balance. Got it?”

“Yes, it’s a shame, but let’s wrap it up here.”

“I have a favor to ask. There’s a Rolls Royce downstairs. My grandmother is inside, so please bring this to her.”

He made an unpleasant expression, but he was startled by Eun-soo’s frown.

The man took the paper and went outside.

Kang Sang-cheol thought about his dream last night.

A former president had appeared.

A jackpot dream!

So he knew a good sucker would come today.

But he thought the first impression was a very good sucker,

He never thought he would get beaten up.

The fortune he saw at the beginning of the year said that great luck would come this year.

Things weren’t working out, he was getting beaten up, and he thought he should leave this industry now.

He envied his successful colleague, Lee Hyeong-jung.

If he had squeezed them like dried squid like that guy…

Then he could have been scouted by a decent company.

It just didn’t suit him.

Kang Sang-cheol, who received the documents, walked down the stairs.

There was a shining Rolls Royce in front of him.

The inside was not visible due to the dark tint, so he knocked on the window.

– Knock knock

The window slowly lowered, revealing an old man with white hair.

***

He looked at the people remaining in the office.

They didn’t seem like they would be very good at their jobs.

Still, as Cha Young-mi said, they seemed kind.

He thoroughly searched the company using the documents he received from Yoo Min-cheol.

What was unusual was that the people running the private loan office had no criminal records at all.

They were clean without any assault records.

Jeong-hoon on the sofa looked at them with a curious expression.

“How did you get into this industry?”

The large man did not answer.

Jeong-hoon looked at the man kneeling next to him.

“I came to make money. That’s all.”

Young men who didn’t seem to be 30 yet.

It was a time when there were still no decent jobs after the IMF crisis.

Then the door opened, and a man with a pale face came in.

The hand wiping the cold sweat on his forehead was trembling.

“The, the Hyeon Jeong-ok… Madam wants you to come quickly.”

“Did you greet her? I sent you to greet her because this is an affiliate.”

The man knelt down and begged.

“It’s a crime worthy of death, young master.”

“A crime worthy of death. It’s not like you’re going to die for something like this, and Hyeon Jeong-ok’s name is worth something. You have to pay the price for selling it, right?”

“Please spare me.”

“I’m telling you I’m not going to kill you… Clean up later because I’m coming back. Otherwise, my friend will be very upset. Oh, and especially ventilate it.”

He glanced at Eun-soo and nodded vigorously.

Jeong-hoon hit the man hard on the back of the head with the file he was holding.

“This is the punishment for harassing Yoo Min-cheol’s family so far. I’ll come back later for the rest of the punishment. If you run away…”

“I’ll be waiting.”

Grandma asked Jeong-hoon, who had gotten into the car.

“What kind of guy is that?”

“He said he works under Grandma.”

“What? That son of a bitch…”

Grandma’s face turned red in an instant.

“I’ll scold him later.”

“I’ll hold back because I don’t have time today. I’ll have to come back and tear that guy apart next time. Let’s go quickly.”

“Yes.”

Hyeon Jeong-ok’s Rolls Royce passed Myeong-dong and stopped near an old gukbap [Korean rice soup] restaurant in Euljiro.

***

“Oh, you came?”

“Hey, are you still gathering here?”

“What can I do when the stingy Chairman Bang wants to meet here?”

“But Chairman Park isn’t coming today?”

“He said he couldn’t come because he had a cold. Catching a cold in the summer that even dogs don’t catch.”

“He’s worse than a dog, so that’s why. Did you let him know in advance that he was coming?”

He pretended not to know and changed the subject.

“You must be Yoon Jeong-hoon. You look a lot like Hyeong-jung. I’m Hwang Chief, and this is Chairman Lee.”

“Jeong-hoon, just say hello. They’re useless old men. They’re the ones who are sticking with those guys.”

“Oh, sticking with them. We’re just doing a few businesses together.”

Jeong-hoon bowed his head and greeted them.

“Nice to meet you, elders.”

“Now that I’ve set up the stage for Jeong-hoon, what do you have to say?”

As expected, Grandma knew exactly what was on my mind.

“I want to enter the loan business.”

“What? Private loans? We have a tight grip on that. Are you saying you’re going to squeeze in between us?”

“No. I want to establish and operate a legitimate loan company. Myeong-dong is a dogfight right now. With the Interest Limitation Act abolished, ordinary people are suffering everywhere.”

“Hahaha, I expected something from Hyeon Jeong-ok’s grandson, but it turns out you brought a fool from somewhere.”

“I know, trying to make money with a moral textbook. Tsk tsk.”

Even with Chairman Lee and Chairman Hwang’s words, Grandma didn’t say anything. It wasn’t wrong.

Jeong-hoon, who had heard all their ridicule, responded with a quiet smile.

“Do you see this phone? You all have one, right? Elders, do you still use landline phones these days?”

Chairman Lee, who had been looking at the phone for a while, looked at Jeong-hoon and opened his mouth.

“I made a mistake. You’re Hyeon Jeong-ok’s grandson, alright. So you’re saying that the private loan business we’re doing is going to end up like a landline phone?”

“Yes, it will proceed faster than you think.”

“Hey young man, we’re not just playing with money when we do private loans.”

“I know. Aren’t you doing everything that makes money? Stocks, real estate, bearer bonds, bill discounts. I know that the elders all have assets in the trillions of won [equivalent to billions of USD] just from rolling money around.”

They had a surprised expression. They didn’t think he would know so much about them.

“You can’t move in the shadows forever.”

“That’s true. But is there a reason why you absolutely want to do the loan business? I already know you have a securities company and a heavy industry company.”

“It’s because I’m hungry. There’s too much to eat right now.”

“Then eat something else. It doesn’t make sense to do a high-interest loan business that’s no different from private loans.”

“I can start here and eat them one by one.”

Soon, the credit card company will become insolvent, and the bank will be put up for sale.

If he jumps right in, the Cheonji Association’s interference will be extreme.

This loan company is a link. He has to lobby as much as possible using this as an excuse.

He has to build friendships with the financial world.

That was Jeong-hoon’s goal.

Of course, diverting their attention was also an important reason.

He had to prevent their attention from going to Seonjae General Machinery and Seonjae Heavy Industries.

“Well, I don’t know, that’s not all, but it’s not a bad reason. Then go ahead and do it. You don’t need our money, do you?”

“Let’s do it together. I’ll take 51%, and the elders will take 49%.”

“What? Are you out of money?”

Hyeon Jeong-ok’s forehead furrowed at those words.

“Hmm, you’re quick to react to a joke. Why do we have to do it together?”

“I’ll give you the opportunity to participate in the things I’ll eat in the future.”

The three old men’s eyes widened.

“What? Hahahaha. What is this guy trying to eat?”

“A stray whale has surfaced in Geoje [a city known for shipbuilding].”

The old men’s hands, which were about to empty their glasses, stopped.

“Could that whale be?”

“You won’t regret it. So you should take this opportunity to join hands with me. It wouldn’t be bad.”

Hyeon Jeong-ok, who had been momentarily flustered by Jeong-hoon’s plan, came to her senses.

There was a fact she had to tell Jeong-hoon.

“Jeong-hoon, do you really have to do it with those two since they’re traitors?”

“Oh, what betrayal? We’re just doing it together because it makes money. You shouldn’t have let go of it back then…”

Chairman Hwang poked Chairman Lee in the side.

Grandma’s eyebrows twitched.

There seemed to be a story behind it.

“I’m sorry. Madam Hyeon. I made a mistake because I saw you after a long time. I’m sorry.”

Grandma emptied the makgeolli [Korean rice wine] in front of her at once without answering.

“Then it seems like we’ve heard all of our grandson’s opinions.”

“Grandma, I’ll get up first.”

“Okay.”

Jeong-hoon got up from his seat.

He came out of the old store and looked inside.

Four old men were tilting their glasses through the old glass window.

They were all noisy and laughing, as if they were already in a good mood.

There was a depth of time between them that he didn’t know.

Four old men in this old store.

No one would know that their total assets exceed 10 trillion won.

*

“Hey Madam Hyeon, can that little brat survive in Myeong-dong?”

“Well, he’s achieved great things at that age, so wouldn’t he be able to do this easily?”

“It’s a place where knives fly, so I hope he doesn’t piss his pants.”

Chairman Lee raised the corners of his mouth.

“It’s not the 80s. I hope you don’t get into trouble because of my grandson.”

“Ahem.”

“Let’s have a drink. It’s been a while. But is that Park guy, who’s worse than a dog, really sick?”

“Well, you should contact him.”

Hyeon Jeong-ok didn’t answer.

All three old men pondered Jeong-hoon’s words.

Should they do it? Or not?

They couldn’t decide yet.

He hadn’t shown them anything.

They were curious about what kind of wind that child would bring to Myeong-dong.

They hoped it would be a wind that would cool down the scorching heat.

Myeong-dong was too hot right now.

***

Jeong-hoon went with Eun-soo to the office that was waiting for him.

He told them to clean hard, so he was curious about how much they had done.

He went up the old stairs and opened the door of the smelly office.

The Genius Grandson of the Cash King Becomes a Tycoon