Mining And Construction Tycoon [EN]: Chapter 157

157. Internal Strife (2)

Cheongil Group Headquarters.

Han Cheong-ho yelled into the phone.

“Why are you blocking the loans? Do you know I’ve been waiting for review for months?”

-We apologize. Our bank is also suffering from deficits and needs to clean up bad debts…

“That’s been your excuse for months! Why are we a bad debt?”

-With the deficits accumulated from Cheongil Oil Refining, Cheongil Hotel, Cheongil Soccer Field, and Cheongil Apartments, do you have no conscience? We’re pulling out completely.

“Hey! Now… Hey! Choi Sang-soo!”

The call was unilaterally cut off.

Han Cheong-ho slammed the phone down in anger.

“Cheongil Hotel is opening soon! They know that, so why are they doing this?”

He was pulling money from other affiliates and pouring it all into Cheongil Construction.

Otherwise, Cheongil Construction would have gone bankrupt long ago.

At that moment, Secretary Park entered the chairman’s office.

“Chairman, Jangsu Bank is also flooding us with calls demanding payment.”

“I know! I know without being nagged!”

It wasn’t just Jangsu Bank.

When 18 commercial banks rose up, the remaining banks slyly joined in.

“I need to meet Choi Mu-ryong.”

For the past few months, the only bank that has been lending to Cheongil is Chomyung Bank.

Inevitably, Han Cheong-ho hurried to prepare to go out.

* * *

Secretary Song entered the office.

“Secretary Song, how did the matter you went to check on turn out?”

“All the bank presidents have sent out notices of default simultaneously. If we ignore this, Cheongil Construction won’t be able to avoid the first default.”

“Good work.”

Han Cheong-ho’s funds were completely exhausted.

‘It’s not yet time to open Park Jeong-hwan’s vault, is it?’

That’s a Pandora’s Box that must be opened with the determination to face the worst.

So, Han Cheong-ho is desperately holding on.

‘If you’re going to hold on, then hold on as much as you want. In that case, I’ll just take one more of Cheongil’s affiliates in the meantime.’

Tae-soo’s next target was already set.

-Cheongil Motors.

He planned to exploit the internal strife between Chomyung Bank and Han Cheong-ho.

Secretary Song said.

“We wield money to control the banks and hold the bank presidents in our grip with ledgers of their misdeeds.”

“That’s why all the commercial banks are refusing to lend to Cheongil. Good work.”

“I’m worried about something else. What if an order comes from above to ease Cheongil’s burden…?”

Secretary Song trailed off.

How could Tae-soo not know Secretary Song’s concerns?

If that happened, the bank presidents couldn’t refuse Park Jeong-hwan’s orders.

Just like they followed the order to cut off the lifeline of the Taeyang Group.

But Tae-soo was confident.

“There’s no need to worry about that.”

Because he had something to rely on.

“Chairman, Han Cheong-ho will definitely go to Park Jeong-hwan for help. He’ll probably bring a box of apples [a traditional Korean gift].”

“Probably. But will that box of apples even make it to the Blue House [the Korean presidential residence]?”

The situation was different from before.

There was a capable goalkeeper blocking everyone who approached Park Jeong-hwan.

Like a thief who learns late and doesn’t know the night is passing, there was a man blinded by his lust for power.

“Cha Gi-beom intervened.”

Cha Gi-beom had fulfilled Tae-soo’s two requests perfectly.

-First, to pressure Han Cheong-ho to hold the wedding at Cheongil Hotel.

-Second, to pressure Jeon Doo-hwan.

The second request was something Cha Gi-beom wanted even more.

“Cha Gi-beom is directly putting pressure on the banks.”

Cha Gi-beom started by blocking loans to companies that were providing slush funds to the military.

As a result of this series of actions, he put pressure on the banks to make corporate loan requirements stricter.

In particular, Cheongil, which was becoming in-laws with Jeon Doo-hwan, was a target of special attention.

‘Thanks to that, the military funds flowing to Jeon Doo-hwan were blocked, and the Oseonghoe’s [a secret military society] dissatisfaction has piled up.’

To run a private organization, you need money to appease your subordinates.

As military funds became scarce, Oseonghoe’s forces were defecting.

‘Jeon Doo-hwan is now in a dilemma.’

The Army Chief of Staff and other commanders were pressuring Jeon Doo-hwan from all directions.

As they were identifying Oseonghoe members, everyone was being extra cautious.

Not only that.

‘Cha Gi-beom has identified all the Oseonghoe members hidden within the bodyguards and the Capital Defense Command.’

Unlike in his past life, Cha Gi-beom wielded the sword first.

As a result, Jeon Doo-hwan was now on the defensive.

‘Before the Oseonghoe collapses, Jeon Doo-hwan must make a decision.’

If he could raise enough money, the internal dissatisfaction of the Oseonghoe would subside.

Secretary Song asked.

“Chairman, may I ask why you’re proceeding with the plan excluding Chomyung Bank?”

He deliberately didn’t invest in Chomyung Bank.

“Chomyung Bank has deep ties with Han Cheong-ho.”

“In that case, shouldn’t we target Chomyung Bank even more to make them withdraw from Cheongil?”

That way, Han Cheong-ho would be in even more of a corner.

But Tae-soo shook his head.

“No. The basic principle of a drive hunt is to leave only one escape route and block all the others.”

If they run desperately to survive, they will eventually be cornered.

“Chomyung Bank is firmly supporting Han Cheong-ho. Even if we block it, they’ll just exchange favors behind the scenes.”

In his past life, Cheongil and Chomyung had an inseparable, close relationship.

Tae-soo smiled.

“I’m going to force Choi Mu-ryong onto the same boat as Han Cheong-ho.”

Last time, he tried to sink Chomyung Bank by putting it on the boat of a Western oil company.

But Han Cheong-ho suddenly put Chomyung Bank on a rescue boat.

Getting dollars to bribe the Saudi minister ended up saving Chomyung Bank.

So, this time, he was going to make sure to put them both on the same boat.

“Let’s see how long Chomyung Bank can hold out with Han Cheong-ho’s loans on its back.”

“Ah, Cheongil has a huge deficit accumulated.”

He tried to put the deficit accumulated due to the oil shock on Cheongil Oil Refining, but ended up taking it back.

On top of that, he was proceeding with the construction of a hotel and apartments, which only cost money.

So, the deficit must have grown even bigger in the meantime.

“Han Cheong-ho and Choi Mu-ryong, how far will their loyalty go?”

He was very much looking forward to it.

In his past life, the two went together until the end.

‘In his past life, Han Cheong-ho was on a roll. Chomyung Bank had a lot of capital. But will it be the same this time?’

Many things have changed from his past life.

‘Because of me, Han Cheong-ho is struggling with deficits unlike in his past life, and Chomyung Bank’s capital has shrunk to 1/4.’

It would be interesting to see how the two cornered greedy men would come out.

‘Acquire Cheongil’s affiliate through Chomyung Bank.’

Wasn’t it an exceptionally good opportunity?

Tae-soo grinned.

“I’m thinking of having the Taeyang Group own a car company this time.”

“Could it be…?”

Secretary Song, who was quick-witted and intelligent, quickly realized Tae-soo’s intentions.

Secretary Song laughed loudly with joy.

“Now I understand why the chairman didn’t touch Chomyung Bank.”

Wasn’t it the basic principle of a drive hunt?

But if the relationship between the two was strong, he would never have been able to achieve what he wanted.

“I’m going to take Cheongil Motors away.”

He was looking forward to seeing what kind of expression Han Cheong-ho would make when he saw that.

Taking Han Cheong-ho’s things was always thrilling.

* * *

Chomyung Bank President’s office.

The door burst open and Han Cheong-ho entered.

Choi Mu-ryong, the president of Chomyung Bank, frowned deeply.

“Knock a little. Is this your living room?”

Tock, tock.

“Are you satisfied?”

Han Cheong-ho strode over and sat on the sofa.

Han Cheong-ho gulped down cold water.

He slammed the glass on the table with a thud.

“Let’s cut to the chase and ask for a favor. Give me a loan.”

“I can’t.”

Choi Mu-ryong refused curtly.

“Why? The pre-sale of our Cheongil Apartments is just around the corner! If we get through this crisis…”

“If we try to get through that crisis, our Chomyung Bank will go bankrupt first.”

Chomyung Bank was burdened with Cheongil’s deficit.

He was already struggling, and now he was being asked for another loan.

“Let’s take Cheongil’s stock as collateral.”

“I won’t deal with collateral anymore! I’m telling you, Chomyung Bank is about to die first!”

Since the affiliates weren’t selling, there was no way to get money.

Han Cheong-ho had borrowed a lot of money using Cheongil’s stock as collateral.

But it was like pouring water into a bottomless pit, only going in and never coming out.

“Instead of using the stock as collateral, why don’t you just sell it on the market and create some spare funds?”

“No! If I sell any more stock than this, it will be difficult to defend my management rights!”

Cheongil’s stock had already been released a lot on the market.

So Han Cheong-ho wanted to borrow money using the stock as collateral.

“Cheongil Hotel will be completed soon. You can take Cheongil Hotel as collateral.”

“Hmph! All that Cheongil Hotel is worth is small change. I don’t want it!”

“Next is Cheongil Apartment. Once the apartment pre-sale starts, I’ll pay it back at once. You know we’ll make a lot of money at once.”

“You have to wait a few more months to pre-sell those apartments. I can’t take it anymore.”

Choi Mu-ryong was more firm than ever.

“I think I’ve said everything I need to say, so let’s stop here.”

“Is this how you’re going to treat me?”

“What kind of relationship do we have? A relationship where you unilaterally use me? A relationship where I’m being taken advantage of?”

Choi Mu-ryong’s words became sharp.

“If it’s not that, then stop it.”

It seemed impossible to get a loan with collateral.

‘Choi Mu-ryong, you greedy bastard. But what can I do? All the other banks are shouting about freezing loans and repaying the principal first.’

Chomyung Bank was the only place to borrow money.

That was why this guy was being so stiff.

‘It’s better for this guy to collect the stock than for it to be released on the market. He knows that he has to support me in an emergency so that a lot of crumbs will fall.’

Choi Mu-ryong knew Han Cheong-ho’s lobbying skills best.

The two had maintained a close relationship for a long time, from their days in the private loan business until now.

“Instead, if you bring money, you have to give back the stock I put out.”

It was a sale in name only, but in reality, he was borrowing money using the stock as collateral.

Choi Mu-ryong readily nodded.

“Let’s do that.”

“Really?”

“Don’t you know me? You can’t take my things at market price. I’m going to sell them with a premium.”

How could Choi Mu-ryong not be greedy?

‘It’s more reassuring if you say that.’

As expected, Choi Mu-ryong was the only one to rely on in times of difficulty.

That’s why Han Cheong-ho came to Chomyung Bank.

“Let’s stop arguing. Let’s talk frankly. What do you want?”

Han Cheong-ho finally gave in.

“Cheongil stock, which one were you eyeing?”

“Motors.”

“Again?”

Choi Mu-ryong was demanding Motors again this time.

“You’ve already taken Motors several times.”

“If you don’t like it, forget it.”

There was no other way.

The D-day had already been set.

He had promised Cha Gi-beom.

‘My daughter’s wedding must be held at Cheongil Hotel. The completion of Cheongil Hotel is urgent.’

If he didn’t decorate it properly because he didn’t have money, he would only be ridiculed.

No matter what, it had to be decorated in the best, most luxurious, and flashy way.

“Okay. I’ll give you Cheongil Motors.”

“Good.”

Han Cheong-ho exchanged 7% of Cheongil Motors stock for money.

* * *

Two people entered the Chomyung Bank president’s office.

A young woman wearing sunglasses and a man exuding a menacing aura.

“I heard Han Cheong-ho came and went yesterday?”

The young woman wearing sunglasses asked.

The woman was wearing pointed heels and red lipstick.

Choi Mu-ryong swallowed hard without realizing it.

‘Wow, this woman has an amazing body, even after seeing her again.’

It wasn’t just her body.

‘Hehe, she’s crazy beautiful. There’s not a single unattractive spot on her.’

As Choi Mu-ryong was about to scan her from head to toe with lecherous eyes, the man glared at Choi Mu-ryong askew, exuding a menacing aura.

“Take good care of your eyes if you don’t want to die.”

The man kicked the travel trunk he had brought with his shoe.

“Don’t you need money?”

Only then did Choi Mu-ryong realize that the man had brought two trunks full of cash.

Choi Mu-ryong had no choice but to greet him politely.

“Welcome. I’ve been waiting for you.”

“How much did you get this time?”

She sat on the sofa, crossed her legs, and said.

“Cheongil Motors stock.”

“Here it is. 7%.”

The stock extorted from Han Cheong-ho all flowed to this mysterious woman.

‘Only the Cheongil Motors stock secretly collected through me is already about 13%? No, was it 15%?’

What on earth is her identity?

He had released the guys he used to run when he was in the private loan business, but he couldn’t find out her identity.