I Will Start Doing Business In Jungwon From Today [EN]: Chapter 154

The letter bore no sender’s name. However, the red seal on the sealed envelope clearly indicated its origin.

Continental Bank.

Cho Kwang-yun tore open the envelope with a sense of anticipation.

The content was brief. It simply stated that as a fellow businessman, they wished to meet for a drink and exchange pleasantries.

*This* was someone who had remained silent when Cho’s Bank aggressively expanded into their territory. Why the sudden interest in a meeting?

Could Continental Bank truly be involved in the salt monopoly?

He hadn’t previously considered a connection between the two. But now, it offered a plausible explanation for their lack of significant reaction to Cho’s Bank’s entry into the market.

Compared to the immense profits from salt, the banking business, which primarily earned commissions, was a relatively minor concern.

“Who delivered this letter?”

“He’s waiting outside for your reply, Master.”

“Tell him to meet me at the club at *sul si* [7-9 PM, the hour of the dog in the traditional Korean zodiac] the day after tomorrow.”

“Yes, Master.”

He began to wonder what kind of proposal the head of Continental Bank would make, and how they would react to his own.

* * *

Arriving at the club precisely at *sul si*, he found Bang Young-young waiting at the entrance.

“Most of the money in the Central Plains will be gathered here today, Master. Hoho.”

That meant the head of Continental Bank had already arrived.

“Already here?”

“Yes. He’s been waiting for two *gak* [approximately 30 minutes]. It seems Continental Bank is the one in a hurry, not you, Master.”

“How’s the reception?”

“We’re treating him with the utmost care. But he’s not alone. Judging by their resemblance, it must be his son.”

“Son?”

Has the head of Continental Bank reached the age where he’s passing the business on to his son?

Cho Kwang-yun moved towards the detached building where they were waiting.

He cleared his throat once in front of the door and quietly opened it.

“I apologize for keeping you waiting.”

The two men who had been sitting stood up abruptly and clasped their hands together.

“Not at all. We arrived early. There’s no need to worry about it.”

The older man examined Cho Kwang-yun and said,

“I am Gil Baek-mi. This is my son, Gil Seung-won.”

The young man bowed.

“It’s an honor to meet Master Cho in person.”

“I am Cho Kwang-yun. Please, sit down.”

As they took their seats, Cho Kwang-yun picked up a bottle of liquor.

“Allow me to offer you a drink.”

Gil Baek-mi, holding his glass respectfully, said with a smile,

“This is truly an amazing place. I thought I had seen most of the finer establishments in my sixty years, but I realized I still have much to experience. I never imagined there would be such a beautiful and magnificent place…”

His words didn’t end with mere praise.

“What’s even more surprising is Master Cho’s audacity in creating a manor that rivals the imperial palace. Hehe.”

Cho Kwang-yun smiled faintly and said,

“Master Gil seems to know all the secrets of the world.”

“Oh, is that so? I was just taking a wild guess… How is it? Even though I’m old, my intuition is still useful, right? Hehe.”

A wild guess? He had clearly investigated everything in detail.

“I must reflect on my shortcomings. I still don’t know why you wanted to meet. Please forgive my lack of intuition.”

“It’s acceptable to lack intuition when you possess so much. Someone as eager as I am will anticipate your every need.”

He thought he was truly a remarkable individual.

To utter such servile words without hesitation while his son was present demonstrated extraordinary shamelessness.

“If you say I possess much, how should I describe what Master Gil controls? You who dominate the Central Plains.”

The son, who had been silent until now, finally spoke.

“It’s because Master Cho possesses the two most valuable assets in the world.”

“What do you mean…?”

“Gold and salt. Master Cho is the only one who possesses both.”

The main point was revealed without any need for probing.

As expected, their goal was salt.

“Gold belongs to the bank’s customers, and salt belongs to the state. I merely manage both, not own them.”

As Cho Kwang-yun continued to state the obvious, Gil Baek-mi interjected.

“I’ve heard that Master Cho values efficiency highly. If we spend the entire night beating around the bush, today’s meeting might be in vain, so allow me to speak frankly.”

“I’m listening. Anything is fine.”

“The Emperor’s decree regarding the privatization of salt field development…”

“Yes.”

“Could you share some of it with me?”

Share…?

Could it be that he intended to enter the salt business as a new venture?

Wasn’t he the one who had been controlling the salt monopoly until now?

Cho Kwang-yun quickly responded to conceal his surprise.

“I believe there’s been a misunderstanding. I came here intending to share a drink with a respected senior in the industry, Master Gil… But as you may know, I haven’t met with anyone regarding the salt field business yet. I plan to create a completely new system from the ground up.”

“Where in the world is there anything truly new? We’re simply rearranging what already exists.”

Cho Kwang-yun didn’t miss the anxiety in Gil Baek-mi’s eyes. To uncover his true intentions, he pretended not to notice and said,

“It seems a bit much for the head of the Central Plains’ top bank and the controller of a vast commercial network to also covet salt. I intend to conduct strict screening and management for this salt field business, without any intention of personal gain. Shouldn’t the profits from salt benefit the national treasury?”

Gil Baek-mi’s eyes wavered even more.

Now, he had to unsettle him further by saying something that would turn not just his eyes, but even his complexion pale.

“And I’m planning to re-examine all existing salt fields as well. His Majesty has ordered a thorough investigation into any corruption or irregularities in the current salt monopoly. As I said, we will create a completely new system, and merchants like us will not be able to participate in it.”

“Ah… No! Master Cho! There was no such content in His Majesty’s decree. Only the development of new salt fields…”

Gil Seung-won jumped up. He had him.

“Uncovering corruption and irregularities doesn’t require a decree. It’s something that inspectors should be doing regularly, but they haven’t addressed it due to a lack of oversight.”

While the son was surprised, the father seemed to have regained his composure.

Gil Baek-mi asked with unwavering eyes,

“If you find corruption or irregularities in the salt monopoly, what do you intend to do?”

“Isn’t the answer obvious? Revoke the monopoly and confiscate the wealth accumulated through corruption.”

“As an official, you should know well that it was the court officials who turned a blind eye to that corruption. Do you intend to punish them as well?”

“Punishment is not my responsibility. I will simply report the truth to His Majesty the Emperor.”

The Gil family fell silent. Since Cho Kwang-yun stated he would operate the salt field business transparently, there could be no progress in the conversation. After all, they had met to make a request.

After sipping his liquor for a while, Gil Baek-mi said quietly,

“I think I finally understand the source of Master Cho’s power, the power that has so quickly surpassed our family’s accumulated wealth, built over generations, in such a short time.”

“Surpassed? I’m still far from it.”

“No. You’ve surpassed it enough. Even if you haven’t yet, you will soon. How can we withstand someone who drives people into a corner and strips them bare like this? Hehe.”

Cho Kwang-yun suddenly stood up, clasped his hands together, and bowed.

“I seem to have made Master Gil uncomfortable. Please forgive me.”

“Don’t do this. You know what I mean…”

“I am ignorant and cannot fathom your intentions, Master.”

As Cho Kwang-yun continued to play dumb, Gil Baek-mi emptied a glass of liquor into his mouth and said,

“I think Master Cho is a merchant to the bone. A merchant sells everything. I will buy that heart of yours that wants to manage the salt fields transparently and fairly for the sake of the country. How much will it cost?”

“Where do you intend to resell my loyalty to the Emperor and my conscience for the sake of the country?”

As Cho Kwang-yun subtly revealed a glimmer of possibility, Gil Baek-mi’s expression brightened.

“I must buy that loyalty and conscience and bury them in the ground, so they never come back to life. Only then will the next deal be possible. Is there any other way? Hehe.”

“If you don’t mind, could you tell me what the next deal is?”

“If the first deal doesn’t go through, there won’t be a second. Let’s finish the first deal first.”

“Then how much are you thinking of buying it for?”

“The seller starts the negotiation. You know that well… Tell me. How much is it?”

Cho Kwang-yun called out the price without hesitation.

“Continental Bank.”

The son dropped the glass in his hand, and the father seemed frozen.

Cho Kwang-yun fiddled with his glass, waiting for them to respond. But the son’s shock came out before any composed words.

“Y… You crazy… Are you out of your mind!?”

The son still had much to learn, and he wondered what the father would say.

“Continental Bank? Master Cho! Are you serious right now…?”

“Shut up and be quiet.”

Gil Baek-mi silenced his son and clasped his hands together.

“Please forgive him. I brought him here to learn from Master Cho, but he’s just a young man who’s only committing discourtesy.”

“It’s alright. He’s just excited because he hasn’t grasped the value of the deal yet.”

He was directing the comment at the son, but he didn’t think Gil Baek-mi would miss the true meaning. As expected, Gil Baek-mi’s eyes sparkled.

“If I have to give up Continental Bank to buy Master Cho’s heart, the calculation doesn’t add up… Could you tell me what that value is?”

“A business that’s fortunate if it doesn’t lose money, but a symbol of prestige, so you can’t abandon it… Isn’t it truly a white elephant? If you give it to me, considering it a loss, I will abandon my loyalty and conscience. Either way, you have to abandon both to start the second deal, so I think the price is reasonable.”

Gil Baek-mi’s fingertips trembled.

“Continental Bank’s profits have decreased significantly due to Cho’s Bank, but it’s not enough to abandon it.”

“Is that really the case? The wealthy people of the Central Plains have moved all their money to our Cho’s Bank, which doesn’t charge storage fees and allows them to use department stores with just a check. Continental Bank only handles money that Cho’s Bank doesn’t deal with, that is, the transaction funds of merchants and couriers who frequently deposit and withdraw money.”

Gil Baek-mi’s expression darkened.

“Besides, in the past, there was enough money in each branch, so there was no need to worry, but now there’s no surplus, so the funds are always tight, because of the merchants who might present a check at any time, at any branch. I guarantee that the surplus money accumulated in each branch of Continental Bank right now is the Gil family’s money.”

“This… So this is how a woman who has revealed her inner feelings feels. I am ashamed.”

Gil Baek-mi said with a forced smile.

“And yet, Master Gil has never once tried to restrain our Cho’s Bank.”

“What could I do when I was pushed back in the competition? I’m not a street thug, so I couldn’t send gangsters to Cho’s Bank, could I?”

“You know that’s not what I’m talking about… Your jokes are too much. It seemed to me that you didn’t care at all. Like looking at a chicken or a duck. That’s when I realized that Continental Bank’s wealth wasn’t in the bank, but somewhere else. Until now, I was truly curious about what it was, but I didn’t know the answer. But today, I found out.”

“Would you tell me what our secret stash is?”

“It was salt.”

At Cho Kwang-yun’s answer, Gil Baek-mi smiled faintly.

End