Golden Print [EN]: Chapter 154

About three days had passed since the secret meeting with the union president.

And on the morning of that third day, Woojin received a phone call from Hongshik.

[Rumors are starting to spread, CEO Seo,] Hongshik said.

“Is that so?” Woojin asked.

[Friendly real estate agents have been calling a lot since yesterday,] Hongshik replied.

“Aren’t quite a few union members among the real estate agents?” Woojin inquired.

[That’s right. They all seem quite bewildered. They’ve been checking several times to see if the rumors are really true,] Hongshik said nervously.

“So, what did you tell them?” Woojin asked calmly.

[Well, I did what you told me, CEO Seo,] Hongshik said, with a small laugh.

“Good job. You need to continuously reassure the general union members as much as possible,” Woojin instructed.

Listening to Hongshik’s voice, Woojin leisurely sipped his coffee.

News was slowly coming in that there were urgent sales in the real estate market, and with Hongshik’s call coming just in time, it was time for Woojin to take action.

“Ah, Union President, has the exact number of properties been identified?” Woojin asked.

[It seems to be about seventeen in total,] Hongshik answered.

“Oh, is that so?” Woojin’s eyes gleamed. There were more properties than he had thought.

[There’s one property that’s uncertain and only suspected… The seventeen properties have been confirmed,] Hongshik confirmed.

“Good,” Woojin replied.

After a moment of silence, Woojin asked Hongshik again, “How many properties are you planning to cover, Union President?”

Hongshik replied, [I’ll take two. Two of the union representatives have agreed to take one each.]

Woojin thought quickly about the numbers.

“Then I’ll need to cover about thirteen properties on my end,” Woojin calculated.

[Is that possible?] Hongshik asked, sounding worried.

Though no one could see him, Woojin nodded and replied, “It’ll probably be possible. Now that the exact number is out, I’ll contact you again after getting confirmation from my acquaintances.”

[You need to tell me quickly!] Hongshik urged.

“Of course. I’ll give you a definite answer by tomorrow or the day after,” Woojin assured him.

After exchanging a few more words, Woojin hung up the phone with Hongshik, but even though the call was over, Woojin didn’t put down the receiver.

Now that the exact number had been confirmed, he needed to finalize the plan as quickly as possible. Woojin’s hand was already dialing another number.

Beep- Beep beep beep-!

Then, as the ringing stopped, someone’s voice was heard.

[Oh, CEO Seo! Good morning! What’s up so early? Everything okay?] Kang Seokjung asked.

Woojin spoke quickly into the phone, “Hyung, good morning. Did you sleep well? Actually, I wanted to ask you something… are you maybe thinking about buying a house these days?”

[What?] Seokjung sounded surprised.

The owner of the voice was none other than Kang Seokjung. He, the richest person Woojin knew, was the first person to say yes.

When buying a reconstruction property, there are many things to consider. The year 2011 was a bit better because most regulations had been lifted, but around 2007, when real estate was at its peak boom, there was a flurry of regulations so complex that it made one’s head spin.

For example, in a reconstruction project located in a *Speculative Overheating Zone: This is a special area where the government tries to control house prices*, resale restrictions were imposed from the time of approval of the establishment of the association.

If one ignored the resale restrictions and purchased, they would become subject to *cash liquidation: This means you lose the right to a new apartment and only get money back.*

If the purchased property became subject to cash liquidation, the profits from development would essentially be lost.

If Gangnam-gu had been designated as a Speculative Overheating Zone in 2007, Woojin would not have been able to purchase as he was planning now.

‘I should be grateful that it’s 2011 now…….’

Of course, just because it was the current time didn’t mean there were no considerations.

The law that if a person belonging to one household owned multiple properties in the same complex, the remaining properties except for one would not receive membership rights and would be subject to cash liquidation was still in effect.

If Woojin bought several Cheongdam Seonyeong properties under his name, he would not be able to receive occupancy rights for all but one property.

So, Woojin had to sell off everything except for one property just before the official notice about selling the properties was issued.

‘Until I sell everything, I need to stay tense and move carefully.’

In fact, even this would have been impossible a year ago. Apartments that were the properties of multi-homeowners were subject to cash liquidation regardless of who purchased them.

However, as this law caused innocent victims to be flooded, an amended bill was announced stating that in the case of the purchaser, they could receive occupancy rights (except in the case of redevelopment where unfair division of property is common).

Thanks to that, there were no problems with Woojin’s plan.

‘Still, I should sign the contracts by dispersing the names as much as possible. Up to one property per name is an amount that I don’t have to sell urgently.’

The reason Woojin brought in several people was not only because of a lack of funds. Woojin spent almost two hours on the phone from his seat, starting with Seokjung, then Yuria and Jaeyeop, and even Park Kyungwan.

After all the calls were over, the amount of properties Woojin decided to purchase was slightly less than he had initially thought: one property under his personal name, one property under his mother’s name, and up to five properties under the name of WJ Studio Corporation.

He planned to contract a total of seven properties. In fact, he wanted to do up to ten properties even if it was a bit of a stretch, but it was a decision made to spread the risk.

This way, he only needs to sell four properties before the management disposal, so much more stability is secured.

‘Even with just seven properties, I’ll be able to see an overflowing amount of profit…….’

Of course, this decision was also possible because how his friends reacted was better than expected.

Starting with Seokjung, who nodded without even a moment’s hesitation as soon as he heard Woojin’s explanation…….

“So, that’s how it happened……. You’ll probably be able to see a definite profit in two months,” Woojin explained.

[Really?] Seokjung asked.

“It’s not a huge burden for you, Hyung, so how about trying one property…….”

[Sure, why not,] Seokjung replied easily, like buying a house was as simple as buying coffee.

“Yes? Yes! I understand,” Woojin responded, surprised.

[And Woojin,] Seokjung added.

“Yes?” Woojin asked.

[Tell me if you need more. I can contract a few more for you,] Seokjung offered generously.

“Th, there’s no need to go that far…….”

Lia, who had been eyeing the best property as if she had been waiting for it, spoke next.

[I want a penthouse like Jaeyeop hyung,] Lia said. *Hyung* is a Korean word for older brother or a term of respect for an older male friend, used by women as well in this context.

“Huh?” Woojin asked, confused.

[Isn’t there a property where I can apply for a penthouse?] Lia’s voice was full of excitement. She always wanted the best.

“There is one…….”

[I’ll take that one,] Lia declared.

Ria’s voice came through the phone, clear and confident. “Sure, why not? Sounds interesting.”

Then, another voice jumped in, louder and more excited. “[Hey, hold on, Woojin! It’s Suha. Let me talk to him!]”

Woojin blinked, holding the phone a little away from his ear. “Huh? Suha? Is she there too?” He chuckled. Suha was always full of energy.

Suha’s voice took over the call, bubbling with enthusiasm. “[So, this apartment thing… you’re saying we need about 400 million won, right? Like, roughly?]”

“That’s about right,” Woojin confirmed, leaning back in his chair. He could almost picture Suha bouncing up and down with excitement even though he couldn’t see her. To give you an idea, 400 million won is a lot of money, about $300,000 USD.

[Then count me in! Seriously! I just filmed that ad, remember? Got some seed money burning a hole in my pocket. This is perfect!]”

Ria’s voice came back, a little drier now. “Didn’t you say you were going to use that money to pay off the rest of Mapo Prestige, Suha? Remember that fancy apartment in Seoul you were so excited about?”

[Oh, that’s easy! I can just sell it again in a couple of months! Property prices are crazy right now. It’ll be fine!]” Suha dismissed Ria’s concern with a wave of her voice. “[So, yeah, include me too! Definitely!]”

Woojin just listened, a small smile playing on his lips. He hadn’t expected it to be this easy.

And so, thanks to such strong support, Woojin easily secured three apartments.

Adding Woojin’s seven apartments, that made ten already.

So, who was going to take the remaining three?

It wasn’t Jaeyeop.

He waved his hand, saying that the penthouse he already owned was enough.

The one who invested in the last three apartments was none other than Kyungwan.

[Alright, what the heck. I can cover about three apartments,]

“Chief. No, Director.”

[Huh?]

“Why are you talking like you’re the one buying it? This is being purchased by Chunwoong.”

[The company may be paying, but I’m the one making the decisions, you rascal.]

“Showing off as usual……”

[Are you sure we’ll win the lawsuit?]

“Didn’t you hear what they said at the association office last time?”

[I don’t want to get fired right after becoming a director.]

“Stop being dramatic and get ready to wire the deposit as soon as I send you the account details.”

[I’ll send it like a bullet, so don’t worry, you punk.]

Honestly, Woojin hadn’t expected everyone to agree to his proposal so easily.

He thought Ria would want to, since she had been eyeing Cheongdam Seonyoung before.

But he hadn’t expected Seokjung, who seemed to have no interest in apartment investments, and Suha, who didn’t have enough seed money, to agree so readily.

Moreover, things were made even easier because Ria agreed to buy the large apartment, which had the biggest investment amount and was the most difficult.

The one apartment that Ria had agreed to buy was almost equivalent to three apartments in terms of investment alone.

The 50-pyeong apartment, which allowed one to apply for a penthouse, required an initial investment of over 800 million won.

So, feeling even lighter, Woojin organized the details of the call once more in his notebook and got up from his seat.

He then grabbed a few small gift boxes that he had prepared in the corner of the CEO’s office.

He was planning to visit a few real estate agencies that afternoon.

“So, you’re saying, Mr. Kim, that a 33-pyeong apartment has come on the market for as low as 1.05 billion won?” Woojin asked.

At Woojin’s question, Mr. Kim, the owner of Cheongdam Real Estate, nodded repeatedly, his head seeming to bob like a toy.

“That’s right, CEO. As you said, there are some bad rumors going around these days… but the association president has assured us that they are just rumors.”

Woojin, feigning ignorance, raised his eyebrows and questioned the man who was talking quickly and excitedly.

“Is that so?”

“He’s a trustworthy man. You can trust him on that, if nothing else.”

Before his plan, or ‘operation’ as he was starting to call it, really began, Woojin toured the neighborhood’s real estate agencies, carrying small boxes of refreshments.

Woojin’s purpose in personally visiting the real estate agencies was twofold.

First, to create a good image with the local real estate agents.

Since real estate transactions are ultimately done by people, creating a good image like this would inevitably have a positive impact on the transactions.

‘During the transaction process, they’ll position things in my favor as much as possible.’

And secondly, to find the most reliable place among the many real estate agencies.

If a lawsuit started and properties began to flood the market, he could end up in trouble if he entrusted the work to a clueless real estate agency.

In the end, Woojin’s visit to the real estate agencies today was like a preliminary exploration.

And this place where he was now was the third real estate agency he had visited.

“The emergency committee of the association is truly vicious,” Mr. Kim said.

“You seem to know the story?” Woojin asked.

“Of course, I’m a member of the association, so I know.”

“I see.”

“On the other hand, the association president is really good at his job. This rumor was definitely spread intentionally by the emergency committee.”

Woojin examined the man’s expression with a slightly squinting gaze.

To accurately judge what this person’s true feelings were.

‘Does he really believe in the association president, or is he just trying to sell properties?’

If he really believed in the association president and was saying this, it would be fine, but if he didn’t believe it and was recommending properties to this extent, he would be deceiving his conscience.

The two places he had visited before were closer to the latter, but the owner of this Cheongdam Real Estate seemed to be a pretty decent person.

At least he didn’t blindly push him, saying that this was an opportunity and unconditionally urging him to buy.

“Honestly, the situation itself is risky, so I can’t unconditionally recommend it, but if I were you, CEO, I would buy it.”

“Oho.”

“Don’t buy multiple apartments as you said, but try contracting for just one apartment in the 30-pyeong range. It’s also true that it’s an opportunity that’s hard to miss.”

Perhaps because he was relatively young compared to the other real estate agents in the neighborhood, Mr. Kim was also good at explaining the situation in an organized manner.

And what he liked most was that he didn’t arbitrarily judge Woojin just because of his young age.

So, Woojin was able to nod with a fairly satisfied expression.

“Alright, Mr. Kim. I’ll look into it a bit more and contact you right away. Please secure the property for me!”

“Yes, CEO! Thank you so much!”

Woojin came out of the real estate agency and registered Mr. Kim’s business card on his phone for the first time.

“Hmm. Should I go to just one more place?”

There were a lot of properties, so it would be difficult for all the transactions to be done in this one place, but he felt good that he seemed to have found a decent place.

Mr. Kim even organized the property information and sent it to him by text, even though Woojin hadn’t asked him to do so.

Whirr-

“Oh……?”

Woojin’s eyes sparkled as he checked the property information by unit size once more.

‘There are already three properties out there around 1.05 billion. Five around 1.1 billion…… They must be sweating bullets.’

The price had already dropped by one step, but the number of confirmed properties had exceeded ten in just a few days.

Moreover, the properties with confirmed unit numbers were all from the emergency committee’s side.

Woojin couldn’t help but chuckle as he imagined the emergency committee members fidgeting anxiously.

When the market price had fallen as low as it could go.

Woojin was planning to drive down the price properly and buy at the lowest price.

‘I know full well that I’m making others shed tears of blood, but it’s okay to squeeze the money out of those thugs…….’

And as time passed, the last week of March was approaching.