I Will Start Doing Business In Jungwon From Today [EN]: Chapter 155

“I now understand why the Jo Clan’s name resonates throughout the world. You are truly remarkable.”

Gil Baek-mi exclaimed in admiration. His words signaled complete acknowledgment, suggesting a genuine conversation was about to unfold.

“The Daeryuk Bank has been around for almost three hundred years. It’s practically a symbol of our family. And that bank has been the foundation of our family’s wealth, allowing us to build our current commercial empire.”

“Is the salt business your biggest venture now?”

Gil Baek-mi nodded.

“We shifted to salt a long time ago. As you might guess, the Daeryuk Bank is barely breaking even these days.”

*They’re stuck thinking of the bank as just a vault, only seeing the commission fees. Comparing those fees to the salt monopoly, salt is the obvious winner.*

Perhaps they’ve been so focused on salt that they’ve neglected the Daeryuk Bank. That neglect probably led to customer dissatisfaction, which in turn caused a mass exodus to the Jo Clan Bank.

If they had thought of the bank as a true bank, things might have been different… But what can you expect? This is an era where the concept of a bank is still vague, and the idea of a capital adequacy ratio is unimaginable.

Jo Gwang-yun mentioned another function of the bank.

“But thanks to the Daeryuk Bank’s network, spread like a spiderweb across the Central Plains, you can see a thousand miles while sitting still, can’t you?”

“That’s right. Just by checking the merchants who deposit and withdraw money, we know what’s profitable and what items are declining. Thanks to that, we’ve been able to start many businesses and make quite a bit of money.”

Now, only the final verification process remained.

“So, all the salt merchants are just puppets controlled by you, Master Gil.”

“Not all of them. About eighty percent follow my instructions.”

Eighty percent meant that, except for the estates near the salt fields, he controlled almost everything.

When the weather was good and salt production was high, he would have secured the inventory to prevent the salt price from falling. And when there was a shortage, the price would rise, and he would release the inventory to make huge profits.

Just how much money had he made?

“Then, if I change the game, Master Gil’s foundation will be shaken.”

“That’s right. So, please take good care of me.”

*He says it’s unavoidable, but he’s being too honest. He knows better than anyone how disadvantageous it is to reveal all his cards…*

“You’re being so frank that I’m actually taken aback.”

“I know you’re not the type to demand unreasonable deals just because I’ve shown you all my cards. You always propose fair deals, and the merchants who accept them thrive and prosper, just like Clan Head Jo.”

“Then, can I take it that you don’t see my proposal to take over the Daeryuk Bank as unfair?”

“That depends on the second deal.”

Now it was time to move on to the next stage.

“I named my price for the first deal, so for the second deal, I’d like you to name your price, Master Gil. We’ll start negotiating from there.”

Gil Baek-mi pondered for a moment before slowly opening his mouth.

“I’ll give up ten percent of the existing salt monopoly. In return, give me eighty percent of the new salt field development rights.”

Giving up ten percent of the existing monopoly was just a token gesture to show that Jo Gwang-yun had uncovered an unfair deal. Taking only eighty percent of the new development rights meant that, as before, he would essentially have everything since the estates near the salt fields would naturally be the domain of local merchants. He was a man who knew how to think.

“Alright, you’ve named your price, so let’s start negotiating.”

Gil Baek-mi had spoken his mind, and his expression was much more relaxed.

However, his son’s face, which had been silent, did not look comfortable.

In the end, he couldn’t help but speak up.

“Why do we need to negotiate when we’re giving up the entire Daeryuk Bank?”

“Quiet. The Daeryuk Bank is the price for abandoning Clan Head Jo’s integrity. The salt fields are separate. Haven’t you even figured out how many items are up for negotiation?”

“No, but what kind of nonsense is that…?”

Gil Baek-mi stood up and bowed to Jo Gwang-yun.

“He’s still immature and can’t tell the difference between heaven and earth. Please forgive his rudeness.”

“It’s alright. It’s a big deal, so it’s understandable that he’s having trouble grasping it. Please, raise your head.”

Jo Gwang-yun gave a slight smile to Gil Baek-mi’s son, who was pouting, and then said to Gil Baek-mi.

“I need to know the price structure first. How much money is being slipped around to various people?”

“It varies from season to season, but it’s about twenty percent.”

The officials were taking quite a cut.

“So, Master Gil’s profit is about thirty percent. Twenty percent is expenses… and thirty percent is the cost.”

“That’s right. That thirty percent goes to the national treasury.”

“I won’t touch the cost. If I raise the cost, it will become a big problem because it will mean that someone has been taking unfair profits.”

“I suppose so. I’m relieved to hear that. Heh heh.”

*He was probably worried that I would start by tampering with the cost to collect more taxes, but it seems he has truly returned to the heart of a merchant since he’s not bringing up any problems.*

“We should protect Master Gil’s profits as well, right?”

“Oh, if you could do that, nothing would make me happier.”

Gil Baek-mi’s mouth stretched into a wide grin.

“Of course, Clan Head Jo’s shipping company will handle all the salt transportation, right?”

“No. I’m planning to stop transporting salt altogether. I don’t intend to make a single penny of profit from salt.”

*I shouldn’t even go near salt. I need to be completely transparent so that no one can find any fault.*

Gil Baek-mi frowned slightly.

The cost remains the same, and his profits remain the same. If nothing has changed, what exactly will Jo Gwang-yun take? Is he truly satisfied with just the Daeryuk Bank?

But the question was soon answered.

“Continue giving the money around as before. Just change the recipients.”

Gil Baek-mi’s mouth dropped open again.

Was he saying he would take all the money that was being given to dozens of people? *This guy’s got guts.*

Gil Baek-mi hurriedly said.

“Clan, Clan Head Jo. Is, is that even possible? Do you think the officials who have been tasting money will stand idly by?”

“The entity giving the money will simply change. I will take care of the officials who have been taking money until now. I’ll stop those who can be stopped with money with money, and those who can be stopped with force with force. So, don’t worry.”

*These were the high-ranking officials of the court and the local administrators. The one who fed them held great power. Jo Gwang-yun didn’t want to give that power to Gil Baek-mi.*

Of course, if he were to give bribes, he could do it for less than twenty percent, maybe even ten percent. After all, he held the knife.

If a useless guy demanded bribes, he could be branded as a corrupt official and impeached.

Gil Baek-mi didn’t have this kind of power, so he had to block them with money.

“Do you think I would do things haphazardly when undertaking such a big project? Master Gil, you will make a lot of money and fill the national treasury, and I will clear away all the thorns in your path so that you can do your job smoothly. If you don’t believe me, we’ll have to go back to square one.”

“No, if I don’t trust Clan Head Jo, who else would I trust? Let’s do it that way.”

“You can deposit the money you’re giving me into the Jo Clan Bank.”

Gil Baek-mi slapped his forehead.

“That’s right. Deposit the money in the bank… and just take the checks…”

Gil Seung-won, who was listening beside him, also gaped.

It was the cleanest way to transfer bribes without leaving a trace. How could there be such an easy way to deliver bribes?

“Alright, now that the negotiations are over, shall we start working in earnest?”

Jo Gwang-yun called for someone to bring writing tools.

“Let’s start with the salt field development application first. Let’s start by developing a new area equivalent to the current salt field size… and make the applicants multiple people…”

Gil Seung-won moved his brush like lightning, as if not wanting to miss a single word coming from Jo Gwang-yun’s mouth.

And for several days, they stayed at the club, continuing endless meetings.

* * *

The Gil Baek-mi and his son smiled brightly as they boarded the large carriage waiting in the club’s courtyard.

Jo Gwang-yun bowed in front of them and said.

“I hope you return safely without any trouble.”

“I’m truly grateful to have completed such a big project thanks to Clan Head Jo.”

“It’s nothing. Aren’t we doing this to live well together? You’ve worked harder than I have, Master Gil.”

After exchanging greetings, the carriage departed.

As the wheels rumbled, Gil Baek-mi’s smile disappeared, and a long sigh escaped his lips.

“Hoo… how can I face my ancestors?”

Gil Seung-won carefully opened his mouth at his father’s sudden change in attitude.

“Father, why are you suddenly like this?”

“I’m saying this because I sold out a family that has been passed down for hundreds of years and chose money. Now that we’ve fallen from being the top merchant in the Central Plains to being mere salt merchants, how can I face my ancestors?”

The carriage was filled with Gil Baek-mi’s sighs.

After a while, Gil Seung-won asked again.

“But Father, why did Clan Head Jo want the Daeryuk Bank? He must know that it doesn’t generate much profit and requires a lot of work, right?”

“I’m also curious about that. Of course, if the rumor spreads that the Daeryuk Bank has been taken over by the Jo Clan Bank, we’ll hear that he’s the top merchant in the Central Plains. But the Jo Clan Head I know is a pragmatic person who can abandon such honor at any time. Why did he make such a choice?”

“Should I casually ask him next time we meet?”

“There is no next time. Don’t you understand?”

“Huh? What do you mean there’s no next time?”

“This is the first and last meeting. That’s why we spent several days making detailed plans, isn’t it? Just as almost no one knows that our family handles the salt in the Central Plains, only we should know that we and Clan Head Jo have joined hands. Clan Head Jo knows very well that this is the only way to avoid any future problems.”

“But Father, isn’t it too risky to start such a big business after only seeing each other once? What if he changes his mind later?”

“Changes his mind?”

“Yes. The new salt field development is purely done with our family’s money, isn’t it? We’ve worked hard to develop the salt fields, but what if he doesn’t issue the permits and Clan Head Jo directly interferes…?”

“Quiet.”

Gil Baek-mi raised his hand and covered his son’s mouth.

“Seung-won.”

“Yes.”

“The first thing a merchant needs is the ability to see people. Seeing people doesn’t just mean looking at their impression, personality, or the character that comes through their words. You have to carefully examine the path they’ve walked.”

*He had heard this hundreds of times.*

“Has there been even one person who has come forward saying they lost money dealing with Jo Gwang-yun? When doing business, there are bound to be losers, but I was really curious why not even a single complaint has come out, and today I finally understood the reason.”

Gil Seung-won closed his mouth and listened to his father’s words. He still couldn’t grasp it.

“Because he drew all the pictures. His insight is truly amazing. Since such a person plans not only the big picture but also the details, everyone followed him. So, why would there be any complaints? And there’s a big reason why I trust him. Do you know what it is?”

Gil Seung-won lowered his eyes without saying a word.

“If two tigers fight, only the jackals benefit. Our size is too big for Jo Gwang-yun to stab us in the back. He can’t handle it either.”

“Does that mean he’s afraid of us too?”

“That’s not what I mean. People who play in big waters don’t need to fight. We just need to make sure that jackals don’t enter the waters we play in. There’s no need to fight when we can just fill the overflowing water, is there?”

Gil Seung-won felt proud. And he was even grateful for the fact that he had inherited the bloodline of a family that played in big waters.

End