Mining And Construction Tycoon [EN]: Chapter 150

150. The Korean Businessmen’s Association (3)

Jang Seo-yeon picked up a blue cocktail.

“You know Han Cheong-ho’s funding has been cut off these days, right?”

It was Tae-soo who blocked Han Cheong-ho’s money supply.

“Eleven banks in the city are urging Cheongil to ban loans and recover some of the principal.”

“I know that.”

Tae-soo is putting pressure through the overseas bank he acquired.

Secretary Song used her skills to properly manage the bank presidents.

“Actually, my father put additional pressure on them.”

“Chairman Jang did?”

“Recently, seven more banks in the city would have sent additional letters of demand to Cheongil.”

This means that a total of 18 banks are urging Cheongil to recover the principal.

‘Very pleasing news. Han Cheong-ho must be under considerable financial pressure.’

Tae-soo also chose the same cocktail as Jang Seo-yeon.

He likes the cool and sweet aftertaste.

Tae-soo’s heart was like that as he listened to the news of Han Cheong-ho.

“Besides, who do you think has been covering Cheongil Motors and Shipping’s deficits all this time?”

It sounds like Jang Jun-yong has been pulling strings.

“That’s not all. He also dropped a bomb between Chief Secretary Kim Jeong-rim and Han Cheong-ho. The chairman of Cheongil will probably have a hard time meeting the President these days.”

Tae-soo laughed happily.

Even his eyes softened at the pleasing news.

Tae-soo and Jang Seo-yeon looked at each other and laughed together.

Clink.

The cocktail glasses lightly clinked.

Jang Seo-yeon took a sip and said.

“If Cheongil becomes the chairman [of the Korean Businessmen’s Association], many things will change. First of all, the authority to misappropriate public funds becomes enormous.”

The public funds that the *chaebol* [large South Korean conglomerates] members pay each month are on a different scale.

A huge amount of money goes into lobbying the political world, of course.

“Cheongil seems to be short of funds for hotel and apartment construction right now. What will happen if Chairman Han becomes the chairman of the Korean Businessmen’s Association in that situation?”

“The authority to manage the Korean Businessmen’s Association’s public funds.”

“It’s lobbying money anyway.”

First, they will use public funds to cover the insufficient construction funds, and later they will fill the coffers with apartment sales.

It’s like putting a fish in front of a cat.

If it’s Han Cheong-ho, he’ll definitely dip into the public funds.

“Political lobbying is Han Cheong-ho’s specialty. He already has plenty of close ties with political figures.”

“It would be great to meet with them under the pretext of lobbying and embezzle money behind the scenes, right?”

I understand what Jang Jun-yong is worried about.

“If Chairman Han takes over as the next chairman of the Korean Businessmen’s Association, it will be a mess. He’ll only take care of his own people, and he’ll sacrifice some companies that are out of his favor to the regime.”

That’s what actually happened in my past life.

“Our Geumsan and Cheongil are sworn enemies. And Tae Yang will probably be in a similar situation.”

This means that they will sell Geumsan and Tae Yang as sacrifices to the regime first.

“My father is worried that Chairman Han will seriously interfere with Geumsan’s business if he becomes the next chairman.”

If it’s Han Cheong-ho, he will.

“Now you know why I came to you, right?”

I can’t let money go into Han Cheong-ho’s hands.

“What do you want me to do?”

“Exactly what it sounds like. Join the Korean Businessmen’s Association and help prevent Han Cheong-ho from becoming the next chairman.”

Jang Seo-yeon held out her hand.

Tae-soo firmly grabbed her white, slender hand.

“Gladly.”

For some reason, Jang Seo-yeon blushed a little this time too.

She shook Tae-soo’s hand up and down with a little force.

“I feel like I’ve gained a great ally. My father will be happy too.”

The Korean Businessmen’s Association.

Tae-soo had never set foot in that *chaebol* gathering in his past life.

‘I’ll go once.’

As always, the deliberation was short.

* * *

Two weeks later.

The Korean Businessmen’s Association’s regular luncheon meeting was held at the Geumsan Hotel banquet hall.

A long table was set up in the middle of the large hall so that 70 people could sit around it.

The person sitting at the head of the table was Jang Jun-yong, the chairman of the Korean Businessmen’s Association.

“It has already been two years since I took on the important role of chairman of the association and managed the Korean Businessmen’s Association.”

The term of the chairman of the Korean Businessmen’s Association is two years.

“I am deeply moved to be holding the last meeting of the year like this. Thank you for following me well for the past two years.”

The members of the Korean Businessmen’s Association applauded Jang Jun-yong.

Jang Jun-yong bowed his head in thanks.

“As you all know, it is customary to elect the next chairman of the association in the last month of the term. Before that, we will first receive new members today.”

The members looked at each other’s faces.

“New member?”

“On whose recommendation?”

Jang Jun-yong said.

“Geumsan, Samcheong, Lucky Seven, Daehan Oil, and Pohang Steel. These five members have recommended him.”

The nominated recommending members raised their hands.

Then the other members of the Korean Businessmen’s Association were surprised.

The business rankings announced this year are 1st place Samcheong, 2nd place Lucky Seven, 6th place Geumsan, and 7th place Daehan Oil.

‘Oh my god. A new member who is coming in with the recommendation of the top 10 *chaebol* companies?’

‘That’s ridiculous. They’re not a combination to be involved with.’

‘Even Park Tae-jong of Pohang, who is holed up in Pohang and rarely moves, is attending?’

Park Tae-jong of Pohang Steel smiled and waved to the members.

Pohang Steel is a single steel company, so it is still difficult to discuss the business rankings.

However, the company is growing at a tremendous rate.

Pohang Steel was recorded as the only company in the history of the world’s steel industry to make a profit in its first year of operation.

‘Park Tae-jong is one of Park Jeong-hwan’s closest confidants.’

‘He came all the way to Seoul just to recommend a member.’

There is an anecdote that shows how much Park Jeong-hwan trusted him.

During the 5.16 military coup [May 16th military coup led by Park Chung-hee], Park Jeong-hwan asked Park Tae-jong to take care of his remaining family.

In addition, when the agents of the Central Intelligence Agency went around collecting political funds, Park Jeong-hwan directly threatened to exclude Pohang Steel.

“He is Chairman Kang Tae-soo of Tae Yang Group, who will become a new member of the Korean Businessmen’s Association. Please welcome him with applause.”

Jang Jun-yong stretched out his hand towards the entrance of the banquet hall.

Clap clap clap.

With the sound of the members’ applause, Tae-soo appeared at the entrance.

A young man of only 27 years old walks out.

His appearance, which he paid attention to today, was particularly neat.

‘Kang Tae-soo, the young head of Tae Yang Group.’

‘That friend that President Park Jeong-hwan likes so much.’

‘Kang Tae-soo is qualified to be a member of the Korean Businessmen’s Association.’

Tae-soo’s reputation has long been spread among the *chaebol* world.

The members of the Korean Businessmen’s Association nod.

“Welcome.”

Han Cheong-ho looks at the scene with cold eyes.

‘Kang Tae-soo······!’

Jang Jun-yong applauded and called Tae-soo to his side.

“The new member should say a word about joining the Korean Businessmen’s Association.”

When Tae-soo looked around, all the members of the Korean Businessmen’s Association were paying attention to Tae-soo.

“It is an honor to be able to join the Korean Businessmen’s Association like this. I look forward to working with you.”

Although it was a short impression, everyone applauded and welcomed him enthusiastically.

Then Han Cheong-ho opened his mouth.

“Since when has the Korean Businessmen’s Association become an open organization for merchants in the market?”

The applause stopped abruptly, and the audience froze in an instant.

Han Cheong-ho said without concern.

“Was Tae Yang Group’s business ranking only around 200th place?”

That was actually the case.

This is because it has not been long since it was launched as a *chaebol* group.

“The basic conditions are substandard.”

The members looked back and forth between Han Cheong-ho and Tae-soo at the pointed remark.

Tae-soo chuckled.

“Oh. There’s no such condition in the Korean Businessmen’s Association’s regulations.”

The Korean Businessmen’s Association’s internal regulations came out of Tae-soo’s pocket.

It was a document that he had prepared in advance, knowing this would happen.

“Everyone knows what’s in the Korean Businessmen’s Association’s internal regulations. If you want to check, please read it yourself.”

Tae-soo put the regulations on the table.

Some people couldn’t overcome their curiosity and picked up the regulations on the table and read them.

“There are definitely no such conditions in the internal regulations.”

“Regarding new members, there is only a regulation that says [they must be recommended by existing members].”

Tae-soo looked at Han Cheong-ho and smiled.

“Would you like to check it, Chairman Cheongil?”

Han Cheong-ho did not back down either.

“This is a matter of the level of the Korean Businessmen’s Association, not just the regulations.”
Han Cheong-ho got up from his seat and looked around.

“Everyone wants to join the Korean Businessmen’s Association, but they can’t. Why? Because this is the hall of the top companies in Korea.”

The members of the Korean Businessmen’s Association nodded.

They couldn’t get in easily either.

“Even after being a member, membership is revoked according to the business rankings. That’s why there are only 70 members.”

That’s exactly what it was.

The Korean Businessmen’s Association is an organization created by Park Jeong-hwan to control the market by controlling top-tier companies.

Therefore, they are betting their lives on the *chaebol* company rankings announced by the government every year.

If they fall out of the top 100 for three consecutive years, their membership will be forcibly revoked.

“The top premium *chaebol* group for the very few. That’s the basis of our Korean Businessmen’s Association.”

That’s why the members of the Korean Businessmen’s Association have pride.

“Kang Tae-soo, if you want to join the Korean Businessmen’s Association, first get into the top 100 companies and then knock on the door.”

The members began to whisper at Han Cheong-ho’s words.

Some people began to agree with Han Cheong-ho’s words.

As Tae-soo was about to open his mouth, Jang Jun-yong blocked him with his arm.

-Don’t ruin your first impression by falling for Han Cheong-ho’s tricks.

How could I not know Han Cheong-ho’s nasty intentions?

-There is no second chance for a first impression.

Most people classify people by their first impression.

And it takes a lot of time and effort to change an already imprinted impression.

-Trust me.

Tae-soo nodded.

Jang Jun-yong said.

“Chairman Han, my term hasn’t ended yet. Five existing members recommended one person, and it was just approved, so why are you objecting now?”

“Because he’s not qualified. Isn’t that right?”

Han Cheong-ho incites public opinion.

“If you’re thinking of changing the internal regulations, become the chairman first, hold a general meeting, open the ballot box, and change them properly.”

Jang Jun-yong pointed to the Korean Businessmen’s Association’s internal regulations.

“Until then, let’s follow the regulations.”

“Good, the regulations. If someone who recommended him changes their mind, he won’t be eligible to be a new member.”

“Qualified? He’s more than qualified.”

Jang Jun-yong laughed in vain.

“Oh, come to think of it, does everyone not know the size of Tae Yang Group right now?”

That’s why it’s so chaotic.

“I’m sorry that the business rankings for this year haven’t been calculated yet. Tae Yang Group is ranked around 200th based on the total for the previous year. In reality, it will definitely be in the top 100 companies this year.”

“How long has Tae Yang Group been launched?”

That was a valid question.

No matter how fast a company grows, there is a limit.

There’s no way the people here wouldn’t know that.

“Chairman Han, have you forgotten? Tae Yang Group’s Jubail Industrial Port construction. 1 billion dollars.”

The buzzing stopped.

1 billion dollars was the budget for half a year for this country.

“Tae Yang Group was lucky enough to receive all of it this year. This is because they won additional construction of the Saudi naval base and logistics base, as well as highway and port maintenance.”

Kim Woo-jin aggressively won the construction bids.

Of course, it was also because Rahman pushed and pulled with all his heart.

“This means that Tae Yang Construction’s order amount this year is at least 2 billion dollars.”

How much is that all together?

The exchange rate is rising these days due to the oil shock, so it’s over 400 won per dollar.

‘At least 800 billion won?’

‘Does that mean that Tae Yang Construction alone has generated more than 800 billion won in sales this year?’

The heads of several companies who had been grumbling.

Their lips were tightly closed like clams.

These are companies that have had several affiliates go bankrupt due to the oil shock.

“That’s not all.”

Jang Jun-yong continued as if he had made up his mind.