Mining And Construction Tycoon [EN]: Chapter 100

100. The Launch of the Taeyang Group (3)

“What is it?”

Everyone focused on Taesu.

“Put the money earned in Saudi Arabia and the surplus funds into Hansu’s investment company.”

The investment company Hansu established in the United States had already been used for money laundering.

The money earned from arms dealing and supplying military goods in Saudi Arabia flowed into the investment company.

That money, in turn, came back to Jangsu Bank as investment funds.

“Putting money into the investment company has three advantages.”

“What are they?”

“First, we can cleanly resolve the money laundering issue.”

Taesu explained.

“Jangsu Bank keeps taking investments without returning them. Even a single tax audit from above will expose everything. Do you think Park Jeonghwan will let that slide?”

Of course not.

“If it were Park Jeonghwan, he would start with a tax audit.”

No business is clean enough to withstand a thorough investigation.

If caught, they would be extorted for a huge sum.

“But the U.S. investment company has recovered its investment. It’s reasonable to anyone. A slush fund [a secret fund, often used for illicit purposes] is created without raising any suspicion, giving the Chairman more freedom.”

Very satisfying.

An Jeongwoo smiled contentedly.

“Second, Park Jeonghwan’s pressure will decrease.”

Currently, Jangsu Bank is among the top five commercial banks.

This is because Jang Maldong has recovered more than half of the private loans made through underground financing.

Thanks to this, not many banks could match Jangsu Bank’s financial power.

It was a threatening bank from the start.

“Because Jangsu Bank is so large, Park Jeonghwan is closely watching and constantly eyeing it. But if we withdraw the investment, the bank’s size will shrink significantly.”

“Won’t that reduce our bank’s deposits? It could be seen as a credit issue.”

Customers are likely to see it as a problem with the bank if the investment company withdraws its investment.

But Taesu shook his head.

“We are currently in the midst of the oil shock’s widespread impact. The United States is also in turmoil due to the oil crisis. Isn’t there more than one place urgently recovering investments?”

That’s true.

Other companies are also on the verge of collapse.

“If Jangsu Bank’s size decreases, Park Jeonghwan’s surveillance will loosen, and the pressure will decrease.”

Park Jeonghwan holds the bank in the palm of his hand, manipulating it at will.

He openly threatens to forcibly dissolve it if they don’t listen.

“If you don’t want to be a money bag that Park Jeonghwan looks for whenever he needs it, it’s better to reduce your size appropriately now.”

“You’re right.”

An Jeongwoo nodded.

Park Jeonghwan’s pressure was already intensifying.

These difficulties are unavoidable now that they’ve come out into the open after hiding well in the shadows.

“Park Jeonghwan won’t be able to touch the U.S. investment company.”

“That’s right. Through the investment company, you can hunt for companies you want, acquire stocks, and launder money.”

“A very good method.”

Taesu spoke about the final advantage.

“Third, we can invest in our Taeyang without defying Park Jeonghwan’s orders.”

Jang Maldong chuckled.

“So, this was your goal all along. You sly fellow.”

An Jeongwoo also smiled.

“I was prepared to give money even at the cost of Park Jeonghwan’s anger. But if we can avoid it, it’s better not to antagonize him.”

It was a pleasant smile, and Taesu also smiled pleasantly.

“Park Jeonghwan’s goal is to cut off Taeyang’s funding.”

Han Cheongho’s scheme was exactly this.

So, as of now, Taesu cannot receive loans or investments through the bank.

‘To raise funds through the bank, I have to meet Park Jeonghwan directly and negotiate. But that’s not easy.’

The President wouldn’t easily meet a businessman of Taesu’s position.

Rather, it should be seen that Taesu has been lucky so far to have the opportunity to deal with Park Jeonghwan.

‘Unlike Han Cheongho, I don’t have a close relationship with Park Jeonghwan, so he turns his back on me so easily.’

From the beginning, there was no intention of having a close relationship with Park Jeonghwan.

Taesu uses Park Jeonghwan, and Park Jeonghwan uses Taesu.

Since it’s just such a superficial relationship, the current situation is perhaps inevitable.

“No matter how powerful Park Jeonghwan is, he won’t be able to stop the U.S. investment company from investing in Taeyang.”

“Come to think of it, you also used investment as a guise to raise funds for the recent corporate acquisitions, didn’t you? That must be a slush fund made with oil money.”

“That’s right. I acquired several companies this time in the form of receiving investment from a U.S. investor.”

That’s how he acquired seven companies.

That level of trickery is possible.

If Park Jeonghwan’s secret vault is mobilized, it will be turned upside down.

“It’s easy to launder money because it’s like a regular investor making additional investments.”

“To properly launder money, there must be something you’re giving to the investment company, right?”

“There is.”

Even though Taesu had Hansu establish the U.S. investment company, on the surface, it has nothing to do with Taesu.

So, Taesu was giving something in return for receiving investment funds from the investment company.

“What is it?”

“Stocks.”

What Taesu was putting into the U.S. investment company was stocks.

This matches the funds and the compensation.

But there’s no reason for the company to be shaken by the stocks.

“You’ve done something clever.”

“In case of emergency, I can exercise the stocks through an agent, launder money cleanly, and easily change the Taeyang Group’s financial status to create slush funds.”

Dividends are also paid to the U.S. investment company according to the stocks.

“The company has grown so large that I had to resort to some tricks.”

“Well done.”

An Jeongwoo smiled.

“Jangsu Bank will also return the investment to the U.S. investment company. That money will ease your financial strain. You might be able to acquire a few more companies.”

That means he’s willing to invest a tremendous amount of money.

Isn’t this a time when no one would lend money to Taesu?

It’s an amount that’s even burdensome to offer in the name of an alliance.

So, Taesu was sincerely grateful to him.

“Thank you very much.”

Taesu bowed politely.

“But I think that money will be used elsewhere, not for company acquisitions.”

“Where to?”

“To repay the debts that came in through the acquired companies.”

“Oh, it looks like you’ll be fattening the bellies of other banks.”

“We have to avoid a chain of bankruptcies.”

Then An Jeongwoo laughs.

“I also want to receive compensation for helping you avoid a chain of bankruptcies in the form of stocks.”

This was something he had expected.

“Which company’s stocks do you want? Should I get you stocks from a foreign bank?”

“No, I want the insurance and securities companies you acquired this time.”

His interest is still in finance.

It’s natural, considering he runs a bank and private lending business.

“I can trust you, but I can’t trust the person who acquired the foreign bank.”

It was a simple reason, but the most important one.

“I will do that.”

“How much will you give?”

“How much will you invest?”

“1 billion.”

In 1974 terms, that’s a significant amount; in 2020 terms, that’s close to 30 billion won to invest.

‘With this money, I can pay off the debts at once, and with the remaining money, I can acquire another solid company.’

Taesu nodded.

“Then I’ll give you 20% each of the insurance and securities companies.”

“30%. I won’t accept anything less.”

Currently, he doesn’t owe any bank debts.

Even if he gives 30% to An Jeongwoo, Taesu’s shares will still be around 60%.

It won’t be a major threat to management control.

“Then let’s do that. Who should be the owner? Should we put it under a borrowed name [using someone else’s name to conceal the real owner]?”

“Let’s have the U.S. investment company acquire the stocks. The owner is An Sojeong.”

A woman’s name came up.

An Jeongwoo smiled.

“She’s my daughter.”

The name Sojeong.

A familiar name.

* * *

August 13, 1974, 9:45 AM.

It’s the day of the Taeyang Group’s launch ceremony.

The Taeyang Group family members all gathered in the open space in front of the building that is now Taeyang Heavy Industries.

Taesu and Hansu were dressed in suits, and their parents were dressed in beautiful hanboks [traditional Korean dress].

His father looked around and asked.

“Why aren’t the guests coming even though the ceremony is about to start?”

“It doesn’t matter if outside guests don’t come. It’s a meaningful event for our Taeyang family anyway.”

Taesu said nonchalantly.

He really didn’t care.

Brrr. Squeak.

Welcome faces got out of the car.

It was Chairman Jang Junyong of Geumsan and Secretary Kim.

“Welcome. Thank you so much for coming.”

Jang Junyong quickly said.

“How long has it been since you started your business, and you’re already aiming to be a chaebol [large South Korean business conglomerate]? Do you know how long it took me to crawl my way up here, working myself to death? You are…”

Secretary Kim quickly grabbed the chairman’s arm and stopped him.

“Chairman, did you come to congratulate him or to be jealous? Please stop it.”

“Ahem, I’m just proud of him. Isn’t it a big deal? A chaebol in just two years.”

“You could just say, ‘He’s more capable than me.’ You’re making a long story out of it.”

“No, Secretary Kim, that’s not it!”

“That’s the truth. Everyone knows it took the chairman more than 20 years to become a chaebol, to be honest.”

Jang Junyong and Secretary Kim bickered as they walked over.

Secretary Kim handed a large bouquet of flowers to Taesu’s mother.

“You have a wonderful son. Geumsan wishes Taeyang Group prosperity.”

“G, Geumsan?”

“He’s the chairman of Geumsan. I’m his secretary.”

“Oh my goodness!”

Taesu’s mother was surprised and didn’t know what to do.

The chaebol chairman she had only heard about came to congratulate Taesu in person.

Even with a bouquet of flowers.

She couldn’t believe it and didn’t know what to do.

Instead, Taesu’s father quickly came forward and greeted him.

“Thank you so much for gracing us with your presence, Chairman of Geumsan. This is truly an honor for our family. Hehehe.”

“I’m planning to do something big with your son soon. In Saudi Arabia.”

“Oh, is that so? Then please take good care of our son.”

“Don’t worry. Isn’t President Kang, no, Chairman Kang, already doing well?”

With the launch of the Taeyang Group, Taesu’s title was raised from president to chairman.

Another car entered the parking lot.

This time it was An Jeongwoo and Jang Maldong.

“Congratulations on the launch of the Taeyang Group.”

“I hope it will prosper even more in the future.”

Jang Maldong handed Taesu a potted orchid.

“Thank you so much for coming. I didn’t even go when you established Jangsu Bank.”

“Forget it. I didn’t even send you an invitation. How could you have come all the way from Gangwon-do to Myeongdong?”

“Next time you become the Chairman of the Korea Federation of Banks, I’ll be the first to congratulate you.”

“No need!”

Jang Maldong said that, but the corners of his lips were raised.

“I brought it in a travel trunk. It’s 1 billion won as promised.”

“Thank you.”

Hansu approached Jang Maldong and An Jeongwoo and greeted them.

Looking at the clock, it’s already 9:50.

“Hyung [older brother or male friend], it’s time for the launch ceremony.”

“Okay, let’s start.”

“Hyung, but why isn’t everyone coming? Is there something wrong with the invitations?”

Jang Junyong of Geumsan said.

“There’s nothing wrong with the invitations. Han Cheongho is just playing tricks.”

As expected, Han Cheongho would come out like this.

Taesu chuckled.

‘Knowing that, I called someone else from far away.’

Taesu had requested reinforcements in advance.

He who grinds his teeth at Han Cheongho promised to make a mess this time.