Golden Print [EN]: Chapter 152

Woo-jin stepped into the association office. It was a small, functional space, filled with the quiet hum of computers and the rustle of papers. Hong-shik greeted him with a wide smile, his face bright.

Hong-shik’s face lit up when he saw Woo-jin. He stood quickly, a wide smile spreading across his face. “Woo-jin! It’s been a while!”

Their first meeting might have begun with a bit of awkwardness, but Hong-shik had received a great deal of help from Woo-jin.

Therefore, it was only natural that he welcomed Woo-jin, who had come to the association office after a long absence.

“It’s been a while, Association President. You look radiant.”

“Haha. Mr. Seo, you haven’t changed a bit. Please, have a seat.”

After exchanging a few formal greetings, the two men began to discuss the project over warm green tea. The office smelled faintly of old paper and the sweet scent of the tea.

Their conversation began with Hong-shik updating Woo-jin on the recent happenings of the association.

“The management disposal permit – that’s the official paper that says we can tear down the old building and build a new one – is expected to be issued soon.”

“Oh, that’s really fast.”

“The preparations we made in advance are now paying off.”

“Does ‘expected’ mean that you’ve received confirmation from the Seoul Metropolitan Government?”

“Yes, that’s right. I’ve already finished talking with the officer in charge and am just waiting for the announcement.”

Hong-shik recounted everything from the document preparation to the communications he had with the Seoul Metropolitan Government.

Woo-jin listened, nodding slowly. *’He’s really on top of things,’* Woo-jin thought, a flicker of surprise crossing his face. *’I didn’t expect this level of competence.’*

Even considering all his memories from his past life, he had never seen an association president handle things so cleanly.

Perhaps things had simply gained momentum once they started going well.

If the management disposal permit were to be issued within the week, the progress would be much faster than Woo-jin had anticipated.

*’If I ever get involved in redevelopment or reconstruction later, it might be worth trying to recruit him,’* Woo-jin thought.

In a reconstruction project, time is money.

And the progress and outcome of a reconstruction project vary greatly depending on the capabilities of the association president.

Therefore, if they could recruit a capable and proven association president, it would directly benefit the members.

Listening to his story, Woo-jin seriously considered working with him after the Cheongdam Seonyeong apartment project was completed for the first time.

In about two or three years, the real estate market would begin to skyrocket in earnest.

And that’s when Woo-jin planned to jump into investing in earnest.

*’The timing of Cheongdam Seonyeong’s completion coincides nicely, too,’* he mused.

But these thoughts were ultimately just side issues.

Woo-jin hadn’t come here today just to check in.

So, after listening to Hong-shik’s proud stories for a while, Woo-jin slowly began to bring up the main topic.

“So, Association President.”

“Yes, speak.”

Woo-jin nodded, impressed. “You’ve done amazing work, Association President. It sounds like everything is moving forward smoothly.” He paused, then leaned forward slightly. “Speaking of moving forward… I wanted to ask about the lawsuit.”

Hong-shik chuckled, a playful glint in his eyes. “Lawsuit? Plans? Oh, you know how *they* are,” he said, waving a dismissive hand. “Always making noise. But plans… who knows what they’re really up to?”

Woo-jin smiled knowingly, shaking his head gently. “Come on, Association President,” he said, his voice calm but firm. “You know more than you’re letting on.”

“Hmm, what do you mean…?”

“The reason why the Emergency Committee hasn’t filed the lawsuit yet and is waiting to see how things go. Isn’t the answer there?”

Kwak Hong-shik’s eyes gleamed as he spoke.

“Oh ho. What do you think the answer is, Mr. Seo?”

Woo-jin answered without hesitation.

“About a week after the management disposal notice is announced.”

“You’re saying the lawsuit will be filed then?”

“That’s right.”

A moment of silence passed, during which Woo-jin took a sip of his tea.

Talking non-stop had made him thirsty.

And as Woo-jin set the teacup down again, Kwak Hong-shik asked again.

“Why do you think so?”

In response, Woo-jin asked back instead of answering.

“Among the members of the Emergency Committee, there are still quite a few people who have shares in the Cheongdam Seonyeong apartment, right?”

“……!”

“Including the association representatives who set a trap for this lawsuit, I know there are quite a few.”

“That’s right.”

“Wouldn’t they want to take a chance to sell their apartments at the right time?”

“……!”

“When the management disposal permit is issued, the price will temporarily jump, and that will be their selling opportunity.”

Woo-jin accurately pointed out the core issue, and Hong-shik confirmed it once again.

“You’re saying the Emergency Committee members will try to sell off their apartment shares at the highest price?”

“Exactly. If that weren’t the case, there would be no reason for them to wait without filing the lawsuit yet.”

Hong-shik, who had been listening to Woo-jin’s story with a fascinated expression, couldn’t help but admire his insight.

Unless one had a very high understanding of this reconstruction project, one could never grasp this flow.

*’He’s really an amazing person. To look into the association’s internal affairs to this extent,’* Hong-shik thought.

In fact, Woo-jin hadn’t been able to think this far from the beginning either.

By considering the Emergency Committee’s position from various angles and studying how to maximize investment returns, he had been able to see through even their motivations.

And one more thing.

Woo-jin didn’t stop at this level and saw through one more fact.

“And, Association President.”

“Yes?”

“The biggest reason why you deliberately spread the rumors was also here, wasn’t it?”

At Woo-jin’s question, Hong-shik was momentarily speechless.

If the emotions that had appeared on his face until now were interest and admiration, the emotion that appeared this time was close to astonishment.

“Why do you think so?”

Woo-jin smiled and answered.

“You didn’t want to see the Emergency Committee members sell their apartments at a high price and get away with it, did you?”

“……!”

“You deliberately prevented the highest market price from forming before the lawsuit was filed, didn’t you?”

“Haha…….”

“Of course, completely cornering the Emergency Committee as perfectly as possible was also an important reason… but I think there’s more weight on this side, don’t you?”

Usually, the time when the value of a reconstruction apartment rises the most is when each stage of reconstruction moves up one step.

When the reconstruction promotion committee is first formed, the market price rises slightly due to expectations.

Then, when the association is established, the market price rises again.

Here, business implementation permit, construction company selection. Finally, up to the management disposal permit.

As the project moved forward, step by step, it looked less risky to investors. Less risk means the price always goes up.

So, it was natural that the market price of Cheongdam Seonyeong Apartments, a famous building in the city, would rise when they decided what to do with the building management.

Woojin thought that the emergency committee might try to sell their shares at this time.

Woojin tried to understand what the union leader was really thinking.

Hongsik leaned back in his chair, a surprised laugh escaping him. “Goodness,” he said, shaking his head. “It seems Representative Seo has been one step ahead of me all along.” A small smile touched his lips, but it was mixed with a hint of worry.

Woojin returned the smile, a quiet satisfaction warming him. He had been right. His guess about Hongsik’s plan had hit the mark.

“I would have done the same if I were you.”

“Is that so?”

“You did a really good job. You had to prevent even a penny from falling into the hands of those nasty guys.”

Despite Woojin’s praise, Hongsik felt strangely uneasy.

Woojin, who wasn’t involved, had figured out his plan just from the situation. Even the union’s delegates hadn’t understood it so quickly.

He was shocked for a moment.

Woojin spoke first. “Now that you’ve drawn your sword, why not go even stronger?”

Hongsik’s wrinkled eyes widened again. “Stronger, you say? What do you mean?”

Woojin got straight to the point. “Actually, I checked the market prices this morning, and there hasn’t been any movement at all yet.”

“Are you talking about our apartment prices?”

“Yes, I am.”

Woojin spoke again. “How about subtly spreading the rumor that even the union’s delegates are moving to sell their apartments?”

“Excuse me…?”

“Union officials are trying to quickly sell their properties. What could be a clearer signal than that?”

Woojin’s plan was to spread a rumor. The rumor would say that even the union leaders were selling their apartments because they thought they would lose the lawsuit. This rumor would scare buyers.

Because of that rumor, all potential buyers would watch and wait. The ordinary members of Seonyeong Apartment, who were already worried, would start putting their properties on the market.

With many properties for sale but no buyers, prices would fall quickly.

Then, the emergency committee members wouldn’t be able to wait for the management decision and would have to sell their properties.

But after hearing Woojin’s idea, Hongsik didn’t seem too interested. “It’s not that I haven’t thought about something like that.”

“Is that so?”

“But there are a few problems that have stopped me from doing it.”

“What problems could there be?”

Hongsik paused before answering. “First, if such a big rumor spreads, transactions might freeze completely instead of happening at lower prices.”

“Are you saying that even if the emergency committee members try to sell their properties, they might not be able to?”

“That’s right. When something that negative happens, buyers will wait and see. If the project might fail, who would want to buy a property worth over a billion, even if the price has dropped a bit?”

Woojin almost said, ‘I want to buy,’ but he stopped himself.

Hongsik continued, “Second, I’m worried that ordinary members might be hurt by this.”

Woojin’s eyes widened slightly. He hadn’t realized that Hongsik was such a righteous person.

‘He was taking small bribes, but…’

Woojin didn’t fully understand, but Hongsik had his own limits. He didn’t mind taking small bribes because he thought it wasn’t hurting anyone.

But he didn’t want other members to be harmed by his plan.

“When the market price drops because of bad news, there will be people watching closely, ready to buy.”

“That’s probably true.”

“It would be good if they bought the emergency committee members’ properties, but if they bought ordinary members’ properties, it would be bad.”

“An ordinary member would lose money because of the union leader’s plan… and the emergency committee members might not be able to sell and would have to wait until the price goes back up?”

Hongsik nodded. “That’s exactly right.”

Woojin was impressed. He had thought about this too, but he hadn’t expected Hongsik to be so thoughtful.

‘I need to think about him differently.’

But Woojin didn’t want to give up on his idea. He had a solution for this too.

So, Woojin said, “What if there was a way to solve those problems?”

Hongsik’s eyes widened. “Is there… really such a way?”

Woojin smiled. “Of course. Why would I come all the way here to lie?”

Seeing that smile, Hongsik felt nervous again.

He was very curious about what Woojin would say next. “I’m listening carefully.”

“Haha.”

“Are you going to tell me?”

Woojin nodded. “Of course. That’s why I came all the way here.”

Woojin slowly began to speak. “If you give me the list of emergency committee members you’ve identified… it will probably solve all the problems.”

“…?”

When Hongsik looked puzzled, Woojin added, “I’m thinking of only buying those people’s properties.”

“…!”

One corner of Woojin’s mouth curled up into a smirk.

“A brave investor who will buy when everyone else is scared and the market is at its lowest, and squeeze them dry, down to their very souls.”

Woojin pointed to himself. “I think I’ll take on that role.”