Return To The Building Owner [EN]: Chapter 310

310

After Hyun-sung left, Park Young-jin was left alone in the real estate office.

A broad smile spread across his face.

“That kid, really…”

The more Park Young-jin thought about it, the more impressed he became.

He’s only a senior in high school, barely nineteen. It was hard to believe that such a brilliant idea came from someone so young.

How could he think of something like that?

At first, he thought it was just demanding sacrifices from the building owners. But it turned out that wasn’t the case. In the long run, it was actually a beneficial method for the building owners.

What would have happened if that young man hadn’t come along?

It was obvious. The commercial district would have gradually collapsed, and the shops with expiring leases would have started to go up for sale.

If that had happened for just one year, the commercial district would have been completely devastated, and the vacant stores would have increased, turning it into a ghost town.

To be honest, he had his concerns.

As the commercial area shifted towards the main gate, the foot traffic noticeably decreased. The worry that the commercial district might collapse within a few years started to spread not only among the building owners but also among the tenants.

That’s why the building owners had gathered earlier this year.

They tried to find a way to revive the commercial district, but they only had conflicting opinions and no concrete solutions. Of course, there was also the suggestion to lower the rent. But the question was whether that would actually be effective.

The conclusion was pessimistic.

The reason was that they didn’t trust the tenants.

They were supposed to reinvest the reduced rent or make efforts to revive the commercial district in some way, but they wouldn’t do that.

In the end, the building owners concluded that the reduced rent would just end up in their pockets.

But when a young man named Hyun-sung appeared, all those worries disappeared like fog.

Not only that, but he was also planning to open his ramen shop as a franchise. Honestly, it was hard to believe, but he claimed to make over 100,000 won [Korean currency, roughly equivalent to $80-$90 USD] in sales with ramen.

If that was true, it would only be a matter of time before this commercial district revived.

Perhaps a miracle might happen in a commercial district that everyone was about to give up on.

That’s why Park Young-jin kept smiling.

Just then.

*Creak.*

The shop door opened, and someone came in.

“Hyung [older brother or respected male figure], what’s going on?”

The person who opened the door was Choi Sung-pil, the building owner next to Kim Myung-soon’s shop.

Unlike the urgent Choi Sung-pil, Park Young-jin looked at his watch and said in a relaxed voice.

“Being a council member must be nice, seeing you leave work right on time.”

“This isn’t the time for jokes. What’s going on? I got a call from our tenant saying you suddenly reduced the rent by 50%. Is that true?”

“Is that why you rushed over here as soon as you got off work?”

“Hyung, you know how Manager Min, our tenant, is. Even though I told him it couldn’t be true, he said Kim Myung-soon showed him 50,000 won in front of his eyes and said you personally reduced the rent. And that you’ll only be receiving 50,000 won from now on. Is that true?”

*Pfft.*

Park Young-jin couldn’t help but laugh.

He had expected it anyway. But Choi Sung-pil’s reaction was so quick that he couldn’t help but laugh.

But the problem was Choi Sung-pil.

He wouldn’t just stand by and watch Park Young-jin laugh.

“Hyung! Is this a laughing matter?”

“Hey, why are you making such a fuss today, unlike yourself?”

“A fuss? Are you saying it’s okay for you to do that? A fuss? That’s a bit much, isn’t it?”

“Haha, this guy…”

Park Young-jin’s voice also changed from before.

Then Choi Sung-pil immediately continued.

“Hyung, this isn’t right. There’s supposed to be a public order, and if one person disrupts that order like this, do you think others will just stand by?”

“If they don’t stand by?”

“Why are you acting like this today, unlike yourself?”

“Don’t you trust me?”

“Why are you suddenly bringing that up in this situation? It’s not a matter of trust, it’s the situation…”

“Choi Sung-pil!”

Park Young-jin interrupted Choi Sung-pil.

Choi Sung-pil was dumbfounded. But he couldn’t get angry. That’s because he knew very well that his relationship with Park Young-jin wasn’t one where he could get angry over something like this.

He was able to get elected in the last election thanks to Park Young-jin. Not only that, but he knew very well that he would absolutely need Park Young-jin’s support to continue in politics. He shouldn’t forget his place, especially in times like these.

Choi Sung-pil suppressed his emotions as much as possible and continued.

“Yes, Hyung. Please speak.”

“Haven’t you considered that there might be a reason?”

“Yes? A reason?”

“Yes, let’s say I disrupted the public order, as you said. Even if that were the case, shouldn’t you trust me and try to find out the reason first? Is this something you should barge in and yell and argue about? I don’t think so. What do you think?”

“Ah, that’s…”

Choi Sung-pil had nothing to say.

After listening to Park Young-jin, he realized that he had gone too far. It was Park Young-jin, his absolute supporter, after all.

Choi Sung-pil quickly bowed his head.

“Hyung, I was careless. Manager Min, the tenant, was making such a fuss on the phone that I lost my mind for a moment…”

“Okay, sit over here. Listen carefully to what I’m about to say.”

“Yes, Hyung.”

As if nothing had happened, Choi Sung-pil quietly sat across from Park Young-jin.

Then Park Young-jin immediately opened his mouth.

“What do you think of this neighborhood’s commercial district?”

“Yes? What do you mean by what do I think?”

“How much longer do you think it can last?”

“Ah, yes…”

Choi Sung-pil nodded as if he finally understood what he meant. Then, after thinking for a moment, he immediately opened his mouth.

“In my opinion, many shops will be vacant in two years.”

“Why?”

“As you know, Hyung, the leases for 1/3 of the shops here will expire in the second half of next year. I don’t know, but in this atmosphere, I doubt how many shops will renew their contracts. And if only a few shops renew their contracts, the vacancies will increase from then on, and the atmosphere of the commercial district will worsen, right?”

“That’s right.”

“Isn’t it obvious then? The remaining 2/3 of the shops will almost certainly leave when their contracts expire in two years. If that happens, the last remaining shops will be less than 1/3 of the current shops. In the end, it will become a ghost town.”

“…”

Park Young-jin remained silent for a moment.

Then Choi Sung-pil spoke again.

“Actually, isn’t this something everyone knows now? They’re just not talking about it…”

“So you’re saying the commercial district will inevitably collapse completely.”

“Unfortunately, as it stands now…”

*Tsk.*

Park Young-jin clicked his tongue.

Then he opened his mouth again.

“Is there any way to save the commercial district, even now?”

“You know very well, Hyung. We building owners gathered last month. But even then, we couldn’t find a solution. You were there too, weren’t you?”

“So you’re saying there’s no other way?”

“Yes, that’s right.”

Choi Sung-pil nodded.

Unfortunately, Choi Sung-pil thought there was no way to do it now.

Then Park Young-jin continued.

“That was the limit of you and me, no, not only our building owners but also all the tenants doing business here.”

“Yes? What do you mean by that?”

“Someone has appeared.”

“Someone? What do you mean by that all of a sudden? Someone has appeared…”

Choi Sung-pil looked at Park Young-jin with a dumbfounded expression.

Then Park Young-jin immediately said.

“He said there’s still a last chance. It’s not too early to give up yet.”

“Yes? Who is it?”

“It’s not important who it is. What’s important is that there’s hope for us. When we’re all giving up, saying it’s too late, there’s someone who’s the only one shouting that it’s not yet.”

“So who is it?”

“You don’t know him even if I tell you now. I’ll introduce him to you when he comes later.”

“Okay. Anyway, what’s the last chance?”

Choi Sung-pil’s eyes were shining brighter than ever. That’s how curious he was about that last chance.

That’s because he thought there was no way to save this commercial district. But someone appeared and said there was still a chance, so Choi Sung-pil was naturally curious.

Park Young-jin continued.

“Rent.”

“Rent?”

“Yes, that friend said. The only way to save the last embers is to readjust the rent.”

“But wasn’t that something we building owners talked about when we gathered last time? The conclusion we reached then was that that method wouldn’t be of much help in saving the commercial district, right?”

That’s right.

Simply reducing the rent wouldn’t mean much. The reason was that even if the rent was reduced, it would be meaningless if there was no change in the tenants.

Park Young-jin said again.

“What was the reason we gave up then?”

“It was that it’s useless without the tenants’ voluntary participation.”

“That’s exactly it.”

“Yes?”

“This time, that part that was missing last time will be filled. That person has decided to take the lead himself.”

“Yes? That person himself?”

“That’s right. First of all…”

Park Young-jin began to explain in detail the story he had shared with Hyun-sung. As Park Young-jin’s explanation lengthened, Choi Pil-sung’s expression gradually changed. And finally, when Park Young-jin’s explanation ended, Choi Sung-pil immediately opened his mouth.

“Unifying the signs?”

“That’s right. Honestly, as you know, how chaotic is the commercial district now, to the point where you can’t even focus?”

“Chaotic?”

“We’re just talking like this because it’s just us.”

“Ah, yes. Anyway, the important thing is that the reduced rent will be reinvested, right?”

“That’s right. The part we were worried about when we talked last time was whether the tenants would reinvest the reduced rent or just fill their own pockets, right?”

“That’s right. It would be meaningless to reduce it if that happened.”

“Not only that.”

“Yes? Is there anything else?”

Choi Sung-pil’s eyes sparkled again.

Then Park Young-jin’s explanation continued.

“For our building owners too…”

When Park Young-jin’s explanation ended, Choi Sung-pil immediately opened his mouth again.

“So, from two years later, you’ll raise the rent again by 20% each time, right? And after 10 years, it will return to its original state again, right?”

“That’s exactly it. And the important thing is that in 10 years, this commercial district will be revived, and the value of the buildings will increase accordingly. If that happens, we’ll have nothing to lose at all.”

“In the end, it’s good for both the tenants and the building owners, right?”

“That’s right. Now do you understand why I reduced the rent by 50%?”

“I don’t know who it is, but his idea is truly amazing. It’s a way to save both the tenants and the building owners.”

“That’s what I’m saying. He’s a great friend. You’ll be really surprised when you see him later. And the important thing is that this opportunity is also very important to you.”

“Yes? What does that mean?”

Choi Sung-pil tilted his head.

He couldn’t understand what Park Young-jin was saying, even if he thought about it.

Then Park Young-jin smiled and said.

“Aren’t you a council member in this neighborhood?”

“That’s true, but…”

“Hey, think about it. If you take the lead and actively revive this commercial district, where will the credit go?”

“Ah, you mean…”

Choi Sung-pil finally understood what Park Young-jin was saying.

His goal is politics anyway. If he can take the lead and revive the dying commercial district this time, there will be no better political asset than that. Furthermore, if this opportunity becomes a model for reviving dying commercial districts, it can be applied anywhere else in the future.

If that happens, his political future will naturally become brighter.

A smile spread across Choi Sung-pil’s face without him realizing it.

“How about it? Are you going to take the lead actively?”

“Yes, Hyung. First of all, I’ll lower the rent by 50%. And I’ll actively persuade the other building owners. But when can I see that person?”

“I decided to contact him when I get the consent of the building owners.”

“Yes, I understand. I’ll work hard from tomorrow. Thank you, Hyung.”

Choi Sung-pil bowed to Park Young-jin.

Then Park Young-jin said.

“Haha, thank him later. Anyway, let’s work hard and make sure to revive this commercial district.”

“Yes, Hyung!”

The two looked at each other and nodded as if making a pledge.

The small hope that Hyun-sung launched was growing bigger and bigger.