Mining And Construction Tycoon [EN]: Chapter 214

214. The Goal is Cheongil Construction (2)

The decision was made.

Only then could Lee Moon-bok regain his composure.

‘Dealing with a naive brat of twenty-seven is nothing.’

*Having* grown up pampered as the son of a conglomerate, how would he know the ways of the world?

‘He probably doesn’t even know how the company works, so he neglects everything and doesn’t come to work.’

So how would he know the harshness of the world?

‘I’ll squeeze him dry this time. With plenty of interest on top of what this bastard has been tormenting me with.’

He felt his mouth and lips dry out from the tension.

Lee Moon-bok licked his lips with his tongue.

As they say, you should wet your lips before lying.

Now he had to start with sweet talk and persuasion.

“We need to find a way. This is a matter of urgency.”

Han Il-kwon’s expression softened slightly at the positive response.

“What are you planning to do?”

“We have to go by the book. We need to scrape up all the money we can.”

“Scrape up? From where? From whom?”

“Banks are good, loan sharks are good, politicians are good.”

How much money did Han Cheong-ho scatter around?

They can’t just shut their mouths now.

“If they received money, they have to earn their keep. Isn’t it the way of the world that if they don’t earn their keep, they have to return it?”

Han Il-kwon scoffed.

“The banks have all turned their backs, the private loan business has shrunk since the 8.3 Private Loan Freeze [a government measure to curb private lending], and politicians? Do you think we’ll get any money back from those bastards?”

“It’s what the Chairman has to do. Former Chairman Han Cheong-ho did such things too.”

“Are you telling me to go around collecting debts now?”

“You have to. Or the company will go bankrupt.”

Messing with powerful people recklessly doesn’t end well.

Lee Moon-bok wanted to push Han Il-kwon to the edge of the cliff, so he deliberately urged him on.

But for some reason, Han Il-kwon smiled slyly.

“Yeah, I have to. The company is about to go bankrupt. Start collecting debts from tomorrow.”

“Pardon?”

“They have to earn their keep.”

“Are you telling me to get money from them?”

“Then should I do it?”

Oh dear.

‘This bastard is passing his work onto me whenever he gets a chance. That won’t do.’

Lee Moon-bok quickly changed his words.

Powerful guys are a pain.

The probability of getting hit in the back of the head is very high.

But powerless guys are easy.

“We need to scrape from above, but we also need to scrape from below. We need to scrape up all of Cheongil’s affiliates, business partners, and subcontractors.”

“Do it together. All above and below.”

“…….”

“Do you even know how much your salary is? Why? Don’t like it? Then return the money.”

“…….”

“From tomorrow, go around collecting money from banks, loan sharks, politicians, affiliates, business partners, and subcontractors. Got it?”

His own words were tightening around his neck.

Lee Moon-bok forced a smile.

“…I have to. Leave it to me.”

He didn’t want to poke a hornet’s nest that would cause trouble.

So he would have to meet with affiliates, business partners, and subcontractors to extort money.

He could fill his own pockets with that money.

‘This is even better. Now I can squeeze money from the affiliates, and even if I receive a huge amount from business partners and subcontractors, they won’t even suspect it. Hehehe.’

The groundwork was laid.

A smile spread across Lee Moon-bok’s face.

“That’s not enough. We have to sell everything we can. To raise that money.”

“Sell? What?”

“Anything and everything. Sell goods, sell people, sell affiliates.”

Han Il-kwon scoffed.

“You make it sound so easy? If it were that easy, Cheongil wouldn’t be suffering from a financial crisis.”

When Han Cheong-ho was building Cheongil Hotel and Cheongil Apartment at the same time, providing military funds for Jeon Doo-hwan [a former South Korean president].

Even if he tried to sell affiliates due to lack of funds, no company came forward to buy them.

“That’s because you’re trying to sell them at a fair price. Try disposing of the affiliates at a cheap price. People will line up to buy them, you know?”

“So you’re saying to dispose of the affiliates at a bargain price?”

“People will drink even poison if it’s free. If it’s cheap, everyone will rush in.”

He was displeased.

Han Il-kwon’s eyes narrowed.

“It’s better than being dismantled by the President.”

“The power of a *chaebol* [a South Korean business conglomerate] group comes from its affiliates. And yet you’re saying to sell them off at a bargain price?”

Lee Moon-bok didn’t budge even when Han Il-kwon glared at him.

‘It’s not my company anyway. Why should I care?’

Hiding his true feelings, Lee Moon-bok smiled.

“You told me to raise the money within a month, right? How can a merger and acquisition be completed within a month? We receive money as a down payment and interim payment, hand it over to the President, and then… Hehehe.”

“And then?”

“We wipe our mouths clean. I’ll play some tricks with the contract.”

He meant to pocket the money and not hand over the affiliates.

Han Il-kwon smiled with the same expression as Lee Moon-bok’s sly smile.

“I like that a bit.”

“As long as we don’t get on the President’s bad side, isn’t that all that matters? Civil lawsuit? Let them sue. The work will be done while the lawsuit is going on. It’s nothing for a contract to fall through in the middle.”

“Good.”

He agreed even though it wasn’t something to nod his head to easily.

Lee Moon-bok cheered inwardly.

‘A brat is a brat after all.’

He was taking the procedures for mergers and acquisitions between companies too lightly.

He didn’t even know that things would never end well if he did that.

The more that happened, the deeper Lee Moon-bok’s smile became.

“We’ll sell all the products Cheongil makes, even at special discounts.”

“Discounts? How much?”

“Half price? No, at 70% of the price?”

“That won’t even cover the labor costs of running the factory.”

“We’re raising emergency funds, clearing inventory, and increasing market share. It’s killing three birds with one stone. We shouldn’t be too attached to small profits.”

Han Il-kwon smiled meaningfully.

“You’re saying you’re going to ruin the company?”

“The most important thing right now is to raise emergency funds.”

Money is the problem.

The President’s demand for money is on a different level from the pressure of loan sharks.

If he sets his mind to it, destroying the group is nothing.

“I’ll take care of this matter entirely.”

Han Il-kwon doesn’t even come to work anyway.

It’s already been three months since Lee Moon-bok has been making proxy payments.

“I’ll actively use my authority as Vice President.”

“Good.”

Han Il-kwon and Lee Moon-bok shook hands.

Although the two had completely different intentions, they were smiling with the same expression.

* * *

The next day, at the main branch of Jangsu Bank in Myeongdong.

The first thing Lee Moon-bok did was visit the bank.

Lee Moon-bok sighed as he looked up at the Jangsu Bank sign.

‘Seju Bank has made it clear that they have no intention of getting involved in anything related to Cheongil. Tongin Bank and Jehyul Bank were the same.’

Lee Moon-bok had already visited several banks where he had acquaintances.

But all he got in return was a rejection with a troubled face, and they would subtly tell him the inside story.

‘The chairman of the Banking Association called? And Ahn Jung-woo, the president-elect, also contacted them, saying they wouldn’t sit idly by?’

The next president had called the bank presidents.

He was telling Cheongil Group to raise money, but he was telling the banks not to lend money.

What did this mean?

‘Ahn Jung-woo is planning to completely destroy Cheongil. I can’t stay with Cheongil knowing that.’

The more he knew, the more desperate he became to run away.

‘This is the last time. I’ll settle things at Jangsu Bank.’

Jang Mal-dong must have smelled money.

Otherwise, why would the other bank presidents just lick their lips and shake their heads?

Their faces clearly showed that they regretted it.

It was something that even Lee Moon-bok himself would have coveted.

‘If Jangsu Bank can’t dispose of it either, I’ll have no choice but to take it abroad.’

Lee Moon-bok straightened his clothes.

It was the hour of reckoning.

Clang.

“I’m here to see the bank president. I’m Lee Moon-bok, the president of Cheongil Construction.”

“The bank president is waiting inside.”

Song Jin-gu greeted Lee Moon-bok with a smile and led him to the bank president’s office.

Jang Mal-dong greeted Lee Moon-bok in the bank president’s office.

“So, what brings the president of Cheongil Construction to our bank?”

“I’ve come to offer a good proposal.”

“I heard Cheongil Construction is having a hard time these days? You’re not trying to sugarcoat the sound of asking for money as a good proposal, are you?”

“I won’t ask for money. Instead, I’ve come to sell something.”

“Sell?”

“You know. Isn’t that why you made the calls?”

Lee Moon-bok sat on the plush sofa.

Jang Mal-dong hurriedly shouted to Song Jin-gu.

“We have a precious guest! Go to the nearby teahouse and buy something to drink! I’ll have *ssanghwacha* [a traditional Korean herbal tea]. What about President Lee?”

“I’ll have the same.”

“Two *ssanghwacha*!”

Even before Song Jin-gu could buy the *ssanghwacha*.

Lee Moon-bok opened his briefcase.

“Cheongil Hotel.”

“Let’s see.”

Jang Mal-dong put on his glasses and looked at the documents.

“Expensive. Who would buy it at this price?”

He was being difficult from the start.

‘Who doesn’t know that you’re targeting Cheongil Hotel and made those calls?’

Lee Moon-bok forced a smile.

When selling something, you have to sell your pride along with it.

“Cheongil Hotel is located on Euljiro Main Street. How well developed is that commercial district? Will land of this size be easily available in such a key location?”

Park Jung-hwan forcibly moved the National Library to Namsan and even pushed out the well-known Bando Hotel.

The land handed over to Cheongil was prime real estate.

And the 3,200 *pyeong* [a Korean unit of area, approximately 3.95 square yards] of land right next to it was also Tae-soo’s land.

“Moreover, it’s a top-class hotel with approximately 1,500 rooms on 38 floors. It’s a hotel that would have received at least twice the price if we weren’t disposing of it urgently.”

“Twice the price, my ass. Maybe half the price of this amount.”

Jang Mal-dong scoffed.

“It’s Cheongil Hotel, not just any other place. Even if you buy it, there’s no guarantee when it will reopen. In short, it’s not profitable.”

Not only Park Jung-hwan, Jeon Doo-hwan, and Cha Gi-beom, but also dozens of people died and were injured in the Cheongil Hotel disaster.

Cheongil Hotel is being completely restricted from entry to investigate it.

“Moreover, the fire that broke out during the Cheongil Hotel disaster burned up to the 7th floor. How much money would it cost to renovate it again?”

Jang Mal-dong whispered subtly.

“Let’s do it for half price. You know very well that our Jangsu Bank is the only place that will buy it.”

“Ugh.”

“Don’t you believe me? Should I call the bank presidents in front of you one more time?”

Jang Mal-dong was the chairman of the Korea Banking Association.

He was the head of the national banking association, which meant he was in a position to put pressure on bank presidents.

‘I knew it. He’s like a robber. He’s going to eat it all up with money that’s not even worth the land value of Cheongil Hotel.’

Lee Moon-bok looked at the documents regarding the sale of Cheongil Hotel.

It was a pity.

Jang Mal-dong said firmly.

“Forget it if you don’t like it. Half price is the most I can do. Let’s see if you can sell it for the right price somewhere else.”

The bank with the most cash on hand right now was Jangsu Bank.

Jang Mal-dong was a big shot in Myeongdong who made a name for himself as the biggest loan shark in Korea in the past.

Lee Moon-bok closed his eyes tightly.

‘It’s not my hotel anyway. Let’s sell it quickly, make a fortune, and run away.’

Time was running out to liquidate his assets and run away within a month.

“Let’s do that.”

“Good. We’ll acquire Cheongil Hotel.”

“Cheongil Construction has some more land.”

“Are you going to sell that cheaply too?”

“Instead, there’s a condition.”

Lee Moon-bok said subtly.

“Please put the sale amount in here.”

“Isn’t this a borrowed-name account?”

“I’m telling you not to put the money into Cheongil Construction’s account.”

If a tax audit comes out, he won’t be able to deny it.

This was a time when the real-name financial transaction system had not yet been implemented.

Everyone was using borrowed-name accounts to make backroom deals.

‘I made a big noise about scraping up the company’s money, but it’s better if there are no traces left.’

He meant to siphon the money into an account that Han Il-kwon would never be able to find.

Jang Mal-dong admired inwardly.

‘Kang Tae-soo, things are going exactly as that crazy bastard said.’

He received a call from Kang Tae-soo yesterday.

-Immediately call the bank presidents and tell them to disallow any transactions related to Cheongil Group.

So he made the calls.

-Then Lee Moon-bok will come to see you on his own.

-He will dispose of the real estate and assets held by Cheongil Group.

-He will ask you to put the sale amount into a borrowed-name account.

Wasn’t that really happening?

‘Kang Tae-soo, that ghostly guy is really amazing. He’s taking Cheongil Group’s real estate at a very low price with just a few phone calls.’

Cheongil Hotel will be handed over to Tae-soo immediately.

Jang Mal-dong said as Tae-soo had told him.

“Okay. I’ll put it in a borrowed-name account.”

-Please put it in a borrowed-name account. That makes things easier.

-Why? It’s harder than you think to find that. It’s not caught even in police investigations…

-It’s easier to take it away than putting it in Cheongil Construction’s account. Just watch.

“But what you brought isn’t all the real estate, is it?”

“Of course not.”

Lee Moon-bok smiled confidently and opened his briefcase.

Jang Mal-dong’s eyes lit up.

‘That’s right! The thing that Kang Tae-soo is aiming for has finally come out!’

Lee Moon-bok was holding something that Han Cheong-ho or Han Il-kwon would never have sold.