Mining And Construction Tycoon [EN]: Chapter 99

99. The Emergence of the Sun Group (2)

As Secretary Park continued his report, Han Cheong-ho slammed his fist on his desk.

“Kang Tae-soo, that bastard, is launching a chaebol [a large South Korean business conglomerate] group?”

“Yes.”

This was impossible.

He had blocked all bank loans, so he couldn’t understand how Kang Tae-soo had managed to expand his operations.

“That slippery eel! He managed to get away without loans!”

But if an eel escapes, you just have to catch it again.

If he cast a wide net, Kang Tae-soo wouldn’t escape again.

“Get our phones working too!”

“What kind of phone call…”

“Make calls announcing the groundbreaking ceremony for the Cheongil Hotel!”

Han Cheong-ho smiled meaningfully.

“We’ll hold our groundbreaking ceremony on the same day, at the same time. Who do you think people will choose between Kang Tae-soo and me?”

Han Cheong-ho was a long-established powerhouse, having been a leading chaebol group for a long time.

In contrast, Kang Tae-soo, who was emerging as a newly formed chaebol group, was no match for him.

In terms of corporate size, influence, capital, and reputation, nothing could compare to Han Cheong-ho.

“I’ll take this opportunity to show him exactly who’s superior!”

Kang Tae-soo’s Sun Group launch ceremony would be deserted.

* * *

Myungdong, Jang Mal-dong’s house.

In the sweltering August heat, Jang Mal-dong fanned himself vigorously.

“What brings you here at this hour? I thought you’d be buried in documents, working so hard that you wouldn’t even show your face.”

“I need to borrow some money.”

“What? Money?”

‘Aha!’ Jang Mal-dong seized the opportunity.

Lending money was Jang Mal-dong’s specialty and profession.

Jang Mal-dong smiled brightly, his eyes twinkling.

“Private loan or bank loan?”

“Are you still playing with private loans when you’ve even established a bank?”

Since the private loan freeze, the private loan market had shrunk considerably.

Still, private loans were rampant in the shadows.

Even if they couldn’t circulate as much money as before, they were still making a decent amount of pocket money with small loans.

“But why do you suddenly need money? I know better than anyone how much money you have.”

“I’m short on reserve funds.”

Jang Mal-dong’s eyes curved into a half-moon shape.

It was a very pleasing situation.

“The money you took from Park Jung-hwan’s secret vault should be quite substantial, shouldn’t it?”

“You know that went into corporate acquisitions.”

“The math doesn’t add up.”

Jang Mal-dong tapped the table with his fan.

“You robbed a secret vault, and you have so much money and real estate. You’ve only acquired seven companies so far. It doesn’t make sense that you’re short on money.”

“Who says it’s only seven?”

Tae-soo grinned.

“That’s just in Korea.”

Jang Mal-dong’s eyes narrowed.

“What does that mean?”

“Don’t you know the situation I’m in?”

He knew.

How could he not know?

“My foundation is insignificant. Even if I secured a construction project in Saudi Arabia, the amount is mostly known.”

Molybdenum and limestone mines.

A cement factory, Sun Construction, and Sun Trading.

And the heavy equipment and oil refinery he had taken from Cheongil.

“Even if Tae-soo Oil and heavy equipment made a lot of money thanks to the oil crisis, can I compare to other chaebols with oil supply rights?”

“That’s right.”

“On top of that, the banks all refused to give loans. And the scale of private loans has been drastically reduced.”

“That’s all common knowledge.”

“That’s exactly the problem.”

Jang Mal-dong’s eyes widened.

Tae-soo continued to explain.

“Everyone knows there’s no obvious source of money. How could I possibly acquire more companies entirely with cash? Wouldn’t the Central Intelligence Agency or a tax investigation be launched immediately?”

“Are you saying you’ve only acquired a few companies because you’re worried about what others think?”

This crazy bastard wouldn’t do that.

He’s the type to boldly jump in and go all out when he sees an opportunity.

“So, you’ve been hiding the rest of the slush fund in your pocket. Why are you saying you don’t have money?”

“Because I’ve spent all that money on acquiring companies, as I said before.”

Only then did Jang Mal-dong get the picture.

“Aha. You’re saying you spent it on acquiring overseas companies.”

“Yes.”

“What kind of company did you acquire that you spent so much money on?”

“A bank.”

“What?”

Was he saying he acquired a foreign bank?

“If there’s no road, you find one. If there’s no road to find, you just pave one.”

Tae-soo said firmly.

“I needed a bank, but since there wasn’t one, I just acquired one.”

Jang Mal-dong’s mouth dropped open.

“Whose idea was it to acquire a bank because you needed one and there wasn’t one?”

Instead of blaming the environment, you can create your own path.

“Han Cheong-ho and Park Jung-hwan are trying to tie my hands and feet and cut off my air supply. I can’t just sit still and take it, can I?”

It was an escape route that couldn’t have been opened if he hadn’t robbed Park Jung-hwan’s secret vault.

“Strictly speaking, I didn’t acquire it. Laws regarding the separation of banking and commerce are similar in foreign countries as well.”

Separation of banking and commerce (金産分離) [a legal principle designed to prevent financial institutions from exerting undue influence over industrial corporations, and vice versa].

A law intended to separate financial and industrial capital.

It was created to prevent the adverse effects of producing insolvent companies on the overall economy.

“Park Jung-hwan and Han Cheong-ho are exploiting that law to harass me. I had no choice but to find a way to survive by avoiding it.”

“Hmm, I’m in a position where I have to be mindful of Park Jung-hwan as I come out of the shadows and into the light.”

Having experienced Park Jung-hwan’s tyranny, Jang Mal-dong could understand Tae-soo’s determination.

“Someone I can trust will support me through a foreign bank. They will soon establish a Korean branch and enter Korea.”

“Who is that person? It doesn’t seem like Han-soo.”

“It’s a foreigner.”

Tae-soo grinned.

“The right person happened to be staying overseas. Since he can’t come to Korea anyway, he became a foreigner.”

Tae-soo was waiting for his call.

Waiting for the call that everything was finished.

“Still, a bank acquisition… Huh…”

“Didn’t you establish a bank yourself, sir? Acquisition is cheaper than establishment.”

Now is a time when the whole world is turned upside down.

A crisis is just another word for opportunity.

“The world was turned upside down by the First Oil Shock. Oil companies that were sucking the blood out of Middle Eastern oil-producing countries were kicked out, and stocks plummeted every day.”

“That’s right.”

“Since the oil-based industry was booming every day, the impact on the economy was much more severe than in Korea.”

“So?”

“European oil company stocks and companies went bankrupt, and banks went bankrupt as well. I bought them.”

Jang Mal-dong’s eyes lit up.

“You used all your slush funds to acquire foreign banks cheaply?”

“I’ll probably use it all. I’m currently acquiring an American bank and finalizing the procedures. I’m also looking into banks in the UK, Japan, and Hong Kong.”

“Huh…”

That was why Tae-soo was so confident.

“Park Jung-hwan can only touch domestic banks, right?”

That was why Tae-soo reached out to foreign banks.

“Isn’t it impossible for someone in business to manage without bank loans?”

“That’s right.”

“But Park Jung-hwan is demanding that of me.”

In fact, Park Jung-hwan was prohibiting all loans and investments related to Tae-yang.

Even the people who had brought investment money were quickly pulling out.

“I have a lot of things to offer as collateral.”

Not that he needed to secure collateral.

Tae-soo’s businesses were solid, top-notch companies without any debt.

“When you need to expand your business, expand your facilities, or develop new areas, you need a lot of money. You can’t grow without investment.”

That’s why Han Cheong-ho looked for a bank first.

He asked Park Jung-hwan to ban bank loans.

“I have collateral, but I can’t get a loan. I need to expand my business, but I don’t have cash, so I’m just twiddling my thumbs. Can you just stand by and watch this?”

“Now I see that you’ve been holding your breath for half a year, waiting for this moment.”

Tae-soo smiled.

“That’s why I’m short on reserve funds. Let’s borrow some help in case of emergency.”

Tae-soo threw the words he had first said to Jang Mal-dong again.

“Lend me some money.”

Jang Mal-dong chuckled.

“Okay, what’s the collateral?”

Jang Mal-dong looks for collateral now and then.

It’s the same as ever.

It’s an occupational disease.

“Shall we start arguing like the old days? From interest rates to information.”

“No!”

Jang Mal-dong shuddered.

Did he have to suffer that crazy behavior again?

“Sir, I even brokered weapons in Saudi Arabia. Did you give me the commission properly?”

“…”

Jang Mal-dong was speechless.

He didn’t give him any brokerage fees.

He just ate and wiped his mouth [idiom for taking advantage of someone without compensating them].

“Then did I receive the value of the information that Western oil companies would soon go bankrupt? Do I charge for the contribution to investment profits?”

“…”

He didn’t receive it.

Tae-soo just threw it away, telling Choi Moo-ryong to catch him, even though it was valuable information.

Thanks to that, Jangsu Bank made a considerable profit.

Jang Mal-dong swallowed that profit alone.

“I even made a specific plan to catch Choi Moo-ryong. Did I get paid for this?”

“…”

He didn’t receive it.

Unfortunately, Han Cheong-ho intervened and took dollars from Choi Moo-ryong’s bank, so he couldn’t eat Choi Moo-ryong’s bank either.

If he had eaten Choi Moo-ryong’s bank at that time, he would have shared the profits as promised.

“You made a lot of money with Cheongil Heavy Equipment documents, right? Thanks to the list from Park Jung-hwan’s vault, you extorted a lot of money from pro-Japanese bastards behind the scenes, right?”

“…”

“We’re allies, but you’re talking about collateral to me like I’m a stranger?”

“Is there any case where you lend a lot of money without receiving collateral?”

“Investment. Invest in me this time.”

“…”

Jang Mal-dong was repeatedly speechless and closed his mouth.

Then, Jang Ji-moon slid open, and Ahn Jung-woo, wearing a hanbok [traditional Korean clothing], entered.

“Stop nagging. You’re cornering him like a rat.”

“Have you arrived?”

Ahn Jung-woo strode in and went to Jang Mal-dong’s seat.

Jang Mal-dong quickly gave up his seat.

Now that Tae-soo knew the order of the two, he decided not to hide it.

“How much do you need?”

“I need more than I thought. How much can you lend me?”

“More than you think.”

Honestly, he was surprised.

He didn’t expect him to lend it so willingly.

He just thought he could make a slightly more favorable deal in the name of an alliance.

“Aren’t you right?”

Ahn Jung-woo said coolly.

“Thanks to you, I sold a lot of weapons and military supplies, and I made a good profit from oil company stocks. I’ve also had some fun in the places your brother invested in.”

Ahn Jung-woo liked Tae-soo.

He also trusts him as a comrade.

Tae-soo’s bold moves are also satisfactory.

“I’m investing in you.”

He’s not even lending it, he’s investing.

“I’ve laundered the money from arms dealing, and Jangsu Bank has a lot of spare money.”

“You know I’ve been banned from bank loans, right?”

“I know.”

“It’ll be difficult in the future if you get on Park Jung-hwan’s bad side.”

“I’m prepared.”

It’s a difficult problem, but he’s coming out too willingly.

So it’s suspicious.

-There is no free favor, even up to pork [idiom meaning there’s no such thing as a free lunch].

‘He’s willing to buy me beef, so I can’t help but think about his intentions.’

Tae-soo asked honestly.

“What do you want from me?”

“I want a lot of things. First of all, I want you to be my son-in-law.”

That’s out of the question.

“It’s not my style to get married because of money.”

“I know. So you shouldn’t ask me what I want. You should ask me what I can do for you. What can you do for me?”

“I can do a lot of things.”

Money and power cannot solve all problems, but they can solve many problems.

If you add skill and resources to that, you can solve almost all problems.

“I’ll do what I can do now, and I’ll do what I can’t do later. That’s why I asked what you want.”

“Haha, you’re in a mood to say anything. You’re saying you can do anything but get married?”

“I know you’re not going to ask me for something impossible. So I can do most things. It’s just a matter of time.”

Tae-soo was confident.

“Tae-yang will create a planning and coordination office and launch as a chaebol group. So there will be more things I can do than now.”

“I know, I received an invitation to the Tae-yang Group launch ceremony. Well, with 16 affiliates already, it’s time to move forward as a chaebol group.”

Ahn Jung-woo nodded.

“I recognize your ability.”

He’s starting a chaebol company just two years after starting a business.

Even Geumsan, the epitome of self-made, didn’t grow this fast.

“That’s why I’m investing in you. I want to buy your future. I want to benefit from you this time.”

“If that’s the case, that’s good.”

Tae-soo also nodded willingly.

“I will grow Tae-yang Group into the best chaebol company in Korea. So when that time comes, your investment will pay off greatly. I can guarantee that.”

“Full of spirit. I like it very much.”

Ahn Jung-woo laughed loudly.

Tae-soo said.

“Since you’ve decided that way, I’ll tell you how to help me without incurring Park Jung-hwan’s wrath.”