Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 139

139. 40th. Preparing for the Deal (3)

After finishing his call with ‘Candidate Kim,’ Lee Daesu called Koh Seungju, the three CEOs, and Lee Myeongjin after his call with the opposition party candidate.

“How did it go, Chairman?”

“Were there any other requests from Candidate Kim’s side?”

“If more campaign funds are needed, I’ll tell Myeongdong to provide support, Chairman.”

The five men spoke before he could even open his mouth.

This presidential election was Haedong Group’s chance to repay all the grievances they had suffered under the Yeongnam regime for decades, simply because they were from Jeolla Province. Lee Daesu waved his hand at them, who were eager to step forward themselves.

“The conversation went well. He said that if he gets elected, he’ll cooperate as long as we protect the Haedong Merchant Bank branch openings and anything else we want.”

The faces of the five men brightened as they looked at Lee Daesu, who answered the first question. Haedong Merchant Bank, which was essentially a bank without the bank sign, would be opening branches all over the country, making them the only chaebol [a large South Korean business conglomerate] to own a bank, wouldn’t it?

“Other groups might try to interfere, but you don’t have to worry too much, Chairman. We can sufficiently defend by buying stocks and bonds with funds from Haedong Securities and Haedong Merchant Bank.”

Jo Youngchan, who had become the biggest beneficiary of this deal within the group, called for an aggressive defense, not just a defense, and Lee Daesu smiled.

“Now, CEO Jo’s shoulders will be straightened, huh.”

“It’s all thanks to Director Lee and Director Park, haha.”

“Congratulations, CEO. My household has grown this time, and it seems like you’ll finally be growing yours too, haha.”

Lee Myeongjin offered his congratulations with a bright expression as he watched Jo Youngchan laugh heartily.

Even he, the youngest in this place, had seen his household multiply several times over by acquiring Ado Motors and Hango Steel, and it seemed that Jo Youngchan, who was superior to him, felt much lighter now that the household he was in charge of had grown.

Lee Daesu, who had been watching the two men with a satisfied expression, opened his mouth. It was a good sight, but there were still things he needed to tell them.

“Candidate Kim asked us to release some of the dollars we have into the market if he gets elected. He said that the 50 billion won given from Chairman Geum’s money is enough for campaign funds, so we just need to sell the dollars.”

If they had to sell the dollars anyway, they could just sell them with a reasonable profit as if they were doing a favor. As everyone nodded as if it were obvious, Lee Daesu asked Koh Seungju.

“Chief Koh, how much do we have left after taking out the dollars we need to use?”

“A total of 10 billion dollars, including 5.7 billion dollars available for disposal from Haedong Securities and a 4 billion dollar loan contracted with Chase Manhattan.”

“Are you sure?”

“Yes, Chairman. That’s the amount excluding the dollars to be left in Haedong Corporation and Haedong Merchant Bank.”

Following Koh Seungju’s confident answer, Jo Youngchan asked.

“You told us to leave 2 billion dollars in Haedong Merchant Bank and 1.5 billion dollars in Haedong Securities, but the exchange rate will fall once the bailout begins in earnest. What are you going to do?”

While Haedong Securities was receiving settlements, Haedong Merchant Bank had increased its dollars to 2 billion dollars, and the value of the 15 percent stake in Haedong Securities that he had received from Lee Seongmin had also increased dozens of times.

However, Jo Youngchan did not understand Lee Daesu’s instruction not to sell 3.5 billion dollars, and Lee Daesu also did not understand Lee Seongmin’s request that led him to give that instruction.

‘What is this bastard up to again…’

Lee Daesu twisted his lips with a sullen expression for a moment, thinking that Lee Seongmin was hiding something. Still, he was sure that it was a prank that would leave a big profit, so he relaxed his expression and shook his head.

“Let’s leave it. I’ll give you a signal after the presidential election, so throw all 10 billion dollars into the foreign exchange market. And.”

After pausing for a moment, Lee Daesu gave the most important instruction.

“Tell the Myeongdong guys to throw all the dollars they’ve been collecting when I tell them to. Once the cleanup is done, we’ll be able to recover more than the 3 trillion won [South Korean currency] in bad checks we’re holding.”

“All the money lenders are grateful to you, Chairman, because the foreign currency they’ve been collecting since last year amounts to 5 billion dollars. Don’t worry about the losses, Chairman.”

Lee Daesu’s expression became much more comfortable at Koh Seungju’s consoling answer.

“The losses must have been considerable… I’m grateful to those friends.”

All of Lee Daesu’s money lenders were the children and grandchildren of those who had dominated Myeongdong under this family since Lee Daesu’s father’s time. Lee Daesu was sincerely grateful to them because they had all collected dollars according to his instructions without complaint and even held onto bad checks.

After that, Lee Daesu dismissed everyone only after giving instructions to look into decent properties such as seed companies and shipping companies.

“It can’t be helped.”

Lee Daesu did not inform ‘Candidate Kim’ that his private loan organization was still intact or that they held 5 billion dollars. As the owner of the Samcheong-dong study, he had a duty to take care of not only the sunny land of this family but also the shady land.

Lee Daesu, who had been muttering quietly, only looked at the ebony Pietà [a representation of the Virgin Mary mourning over the dead body of Jesus] placed in the study display case. Lee Daesu’s eyes, looking at the Pietà, seemed to be full of a feeling of asking for forgiveness.

***

I was on the phone with my grandfather after finishing lunch with Henry and returning to the accommodation.

“Yes. Yes, Grandpa. Henry said he would detonate it at the right timing. How did it go with Candidate Kim? That’s a relief. I’ll stop by Chase Manhattan to finalize the loan agreement and go back. Yes.”

I let out a sigh of relief after putting down the receiver. Park Taejin, who had been watching me throughout the call, asked me.

“Did it go well, Director?”

“Yes, Hyung [term used to address an older brother or male friend], Candidate Kim said that once he’s elected, he’ll control the affiliated lawmakers and hold government officials accountable for our business with the authority of the president.”

Seon Haecheol chuckled as he looked at me answering with a pleasant expression.

“You and the Chairman are really amazing. Not crossing the line.”

“If you can’t control yourself, you’ll go bankrupt. Being able to grow Haedong Merchant Bank like a bank is a big gain in itself, haha.”

The words I just said to Seon Haecheol were not just my mental victory.

The only thing that is not allowed for chaebols in this country is owning a bank. As time goes on, the political and business circles are trying to separate finance and non-finance, let alone banks, aren’t they?

In such a future, being able to increase the number of Haedong Merchant Bank branches nationwide is a special privilege that allows them to have a bank without being able to put up a bank sign. Since it is not a commercial bank, it also avoids the separation of banking and commerce restrictions.

So, it is an overflowing achievement for me, the largest shareholder, and Haedong Corporation. I will only receive loans as much as the law allows, but I will grow it into a solid cash cow for me and the group with dividends alone. Like Investor AB, a holding company of the Swedish Wallenberg family, has SEB as a subsidiary.

I drew a picture of the future once again, chuckled pleasantly, and got up from my seat.

“I’ve confirmed the work in Korea, so shall we go? To borrow 4 billion dollars.”

“Call. Claire should go with us, right? Hehe.”

Seon Haecheol smiled mischievously. He seemed to want to show Claire the faces of the Chase Manhattan bank officials who would be rotting as they watched us enjoy huge exchange rate gains.

“Come to think of it, Sister-in-law should come too. She’s also the representative director of the guarantor of our group’s loan, and we have to show her how those white people’s faces change, hehe.”

Park Taejin also threw away his polite attitude this time and revealed his blatant ridicule. Weren’t they the Chase Manhattan guys who were arrogant until we told them the value of Haedong Corporation, but then completely changed their faces after we told them it was a lucrative loan?

“Of course, we should. Let’s meet in front of the main branch entrance.”

We put on our coats and left the accommodation. We arrived at the Chase Manhattan headquarters in about 30 minutes, and we got up from the sofa when we saw Claire coming through the door.

“Everyone’s doing well, right? Hehe.”

“We’re doing great. We made billions of dollars in deals in Hong Kong and Korea, right? Haha.”

Claire smiled slightly at Seon Haecheol’s hearty laughter and said to me.

“Good job, Johnny. Thanks to the profits made in Hong Kong, I didn’t break a single penny of the money invested in the US stock market.”

“It’s no trouble. If it weren’t for Claire, there wouldn’t have been 10 billion dollars. You also nurtured our people and told us the sources, hehe.”

I was sincerely grateful, but Claire shrugged as if it were nothing.

“Charlie, Jason, and the others showed potential, so they did it. Taejin, you worked hard too. Thank you.”

“No, Claire. I was able to learn a lot thanks to you too, haha.”

After exchanging greetings, the four of us were guided by Chase Manhattan employees and entered the room. Vice President Wilson and executives who had been waiting in advance got up from their seats.

“Long time no see, Wilson.”

“Long time no see, Mr. Lee. Please sit down and have a cup of tea first.”

We sat down in the seats that Wilson pointed to politely, and we talked while drinking the tea that the employees brought.

“You’re really amazing, Mr. Lee. Did you know this would happen?”

Wilson was looking at me with an admiring expression. Judging from the nuance of the question, it seemed that he knew that the foreign exchange crisis that had hit Korea was temporary.

I shamelessly shrugged my shoulders and eyebrows and said to Wilson.

“Well. Our Haedong was just trying to prepare for the resource development business in accordance with the late Chairman’s will, but it turned out like this. This is also the late Chairman’s care.”

I don’t know what my great-grandfather in heaven would say if he saw it, but I answered Wilson with an iron face. Wilson looked at me with suspicious eyes and made a sound of humming.

“Hmm… Anyway, it’s good. With this, Haedong Group will be able to reliably repay the 4 billion dollar loan it will borrow from our Chase Manhattan, so it’s a fortunate thing for us, haha.”

I was drained to see Wilson and other executives loosening their expressions and bursting into hearty laughter. I wanted to see their faces rot, but it seemed like they were saving face because they had the Chase Manhattan sign behind them.

Wilson’s expression hardened as he saw me with a momentarily empty expression.

“Are you not going to take out the loan?”

“No, Wilson. It’s just that the atmosphere is different from the first meeting… haha.”

Wilson smiled as he saw me with an embarrassed smile.

“I’ve been watching Haedong Group, and its total debt is only about 3 trillion won, while its cash holdings are 4 trillion won in Korean currency and more than 8 billion US dollars. You’ve also acquired decent companies.”

I didn’t know that Chase Manhattan would be watching us. I didn’t mention it, but I think they knew that I had made a big deal in the Hong Kong stock market, but I didn’t show it and listened to Wilson’s flattery.

“With that much cash and business acumen, our Chase Manhattan wants to do business with Haedong Group for a long time. CEO Caylor and Rockefeller are also said to have high expectations, haha.”

The head manager and landlord of Chase Manhattan’s large farm raised their evaluation of me and my family… It didn’t seem like it would be bad when proceeding with future work.

“I’m grateful that you recognized me, and I’m even more grateful that the two of you recognized me, Wilson. Let’s start the 4 billion dollar loan from December 20th.”

“Good, Mr. Lee.”

Wilson, who answered readily, had an executive hand me the prepared contract. Wilson and I each put our signatures on the contract, then exchanged the contracts again and put our signatures on them.

We got up from our seats and met in the middle with the contracts.

“I was very rude at the first meeting, Wilson.”

I apologized for the last meeting and bowed my head to Wilson because I had to create a good relationship in the future. When I raised my head, Wilson looked at me with a satisfied expression and said.

“No, Mr. Lee. Haedong Group has a young and talented person like you, so I look forward to it in the future. You have manners, so I look forward to it even more, haha.”

Is it because the ground hardens after the rain, Wilson, who was laughing heartily, held out the contract in his right hand and held out his left hand. I also handed him the contract in my hand and grabbed the contract he held out.

As Wilson took the contract, he held out his right hand, which had become lighter, to him. Wilson also shook hands with me, looking at me with a smiling face.

“I hope that good deals will continue in the future, Mr. Lee.”

“Of course, Wilson. I would appreciate it if you could tell the people above you.”

I shook hands with Wilson and started a deal with Chase Manhattan. The strength of Wilson’s grip was moderately strong, so it seemed like it was a good deal. Whether it’s money or relationships.

***

While Lee Seongmin and his party were staying at the Standard Capital US headquarters, checking on local businesses after opening a loan with Chase Manhattan Bank, the presidential election in Korea was heating up.

One day, a few days before the election.

Unfamiliar white men crossed the arrival hall of Gimpo Airport. Among the white men who had dozens of bodyguards on either side like a wall, the middle-aged man at the very front was wearing a monocle with gold thread on his right eye.

“Are you okay, Henry?”

One of the executives behind him asked Henry with a worried expression, but Henry, who turned around, answered firmly.

“Of course. If I can no longer hear that annoying Yokai [a class of supernatural monsters, spirits, and demons in Japanese folklore] sound, I don’t care if I spend 10 billion dollars. Haven’t we already done the preliminary work to make enough profit?”

All the executives nodded at Henry’s question.

Hadn’t they signed a secret agreement with Haedong Group through Seon Haecheol, who was their colleague and Henry’s closest aide, and collected more than 20 percent of Haedong Group’s listed affiliates through various channels?

“Still, if the presidential election in Korea doesn’t go according to our plan, we could suffer a setback…”

Nevertheless, an executive cautiously expressed concern once again, but he closed his mouth at the sound of Henry’s tongue.

“Nonsense. Have you already forgotten what ‘Slick Willie’ said during the debate with Bush five years ago?”

How could they forget? ‘Slick Willie’ Bill Clinton pushed ‘George H.W. Bush’, the protagonist of the end of the Cold War and the victory in the Gulf War, out of the White House with the words ‘It’s the economy, stupid!’

Henry said as he looked at the executives nodding their heads.

“As that slick guy said, there’s nothing more important than the problem of making a living. Where are the voters who will vote for the guys who ruined the country again? The die has been cast, so let’s focus on making it a success.”

“Yes, sir.”

The executives looked at Henry with firm eyes. Henry nodded at them and walked towards the airport exit, pulling his carrier.