Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 56

56. 18th. As You Sow, So Shall You Reap (2)

With those words, Lee Dae-soo dismissed the four men, leaving only Go Seung-ju in the reception room.

“Those guys at the Blue House aren’t just trying to shake us down. They probably wanted to show us how they treat guys like us as inferiors because of the upcoming election. Remember when the President went to Beijing? He stood tall in front of Jiang Zemin, didn’t he? And they were busy staging photo ops in Ahyeon-dong too.”

During the meeting with Chinese President Jiang Zemin at the beginning of the year, the current President proudly boasted about the Haedong Group, Shinseong, Taehyun, and GK’s attack on the Japanese yen, saying, ‘We are teaching Japan a lesson.’

And that’s not all. Last December, when Haedong Construction uncovered a poorly constructed gas pipeline site in Ahyeon-dong, the President and the ruling party leaders showed up and were busy taking pictures, pretending to be experts.

The reason why the ruling party and the Blue House were so focused on these public displays was because of the local elections to be held at the end of June.

“They’re all crazy for votes during election season, but it seems like they’ve completely lost their minds because it’s the first local election. How are they going to handle the aftermath if they act like that on the diplomatic stage? Tsk, tsk.”

Lee Dae-soo’s face was filled with contempt and disgust as he clicked his tongue. Openly bragging about the yen speculation in front of the Chinese President after essentially slapping Japan, the world’s second-largest economy, in the face! They should have quietly covered it up!

Go Seung-ju also didn’t hide his dismay at the political climate and said to Lee Dae-soo,

“How many politicians are in their right mind during election season, as you said, Chairman? They’re the kind of people who will do anything to win, aren’t they?”

“But still… what happened to Shinseong, Taehyun, and GK? If the Blue House is doing this to us, those three must have been hit pretty hard too, right?”

Go Seung-ju opened his mouth as if he had been waiting for the question.

“I heard from the Blue House’s chief economic secretary that they were told to pay off their existing loans with half of the money they made this time. All three groups agreed to it.”

“What? Loan repayment?”

He couldn’t believe it. What were the three groups, which were larger than Haedong in terms of visible size, lacking that they succumbed to the Blue House? Lee Dae-soo quickly turned his head and asked Go Seung-ju.

“They wouldn’t have done it for free… what did they promise them in return?”

“They said that if they repaid the money borrowed from the financial companies they designated, they would give them interest rate benefits when they take out loans from other places… The places they designated to repay the loans are suspicious, Chairman.”

As soon as he finished speaking, Go Seung-ju spread out a document in front of Lee Dae-soo. He also brought the magnifying glasses that were on the desk.

“Choheung, Cheil, Hanil, Commercial…”

Lee Dae-soo, wearing glasses, muttered as he read the names of the financial companies on the document, then frowned and threw the document down.

“There’s no point in looking anymore. The Blue House owner’s son and HanGo Group’s Jung Taek-ju must have conspired, right?”

Lee Dae-soo held the information network of Haedong Group and Myeongdong’s private loan organizations in one hand. Receiving all kinds of information every day, he could piece together the whole picture with just a few clues that Go Seung-ju brought.

“The representatives of the financial companies on the list, Chairman Jung Taek-ju, and key figures of the ruling party, including the ‘Little President’ [a powerful figure acting as a proxy for the president], have been meeting frequently these days. They probably urged Shinseong, Taehyun, and GK to repay their loans because of the credit limits of each financial institution.”

Lee Dae-soo was also predicting what Go Seung-ju said.

If even a portion of the loans from the three groups that borrowed the most money from the financial sector were recovered, the financial institutions would have more lending capacity.

Go Seung-ju was expecting that HanGo Group would swallow all of the resulting lending limit, and Lee Dae-soo, after hearing the opinion, also thought so.

But there was still more bad news.

“Also, the Korea Development Bank will issue subordinated bonds soon. It seems like the government will use the money they received from selling us Treasury bonds to acquire subordinated bonds…”

“And they’re going to shove the Korea Development Bank’s increased lending limit down Jung Taek-ju’s throat with that money?”

Go Seung-ju hesitated and opened his mouth after seeing sparks flying from Lee Dae-soo’s eyes.

“…That’s probably what they’ll do. All the key figures of the ruling party, including the ‘Little President,’ have received a lot from Chairman Jung. The election is just around the corner, isn’t it?”

Even if it was currency speculation, it was precious money earned by risking the company’s fate. To think that they would take the money he earned and use it to support HanGo Group, which was blinded by playing chaebol [large family-owned conglomerate] games? Veins popped out on Lee Dae-soo’s tightly clenched fist.

Lee Dae-soo’s trembling fist stopped after a long time. His complexion and eyes also turned cold.

“Leave it alone. There’s no point in messing with guys who are in the pockets of politicians. Let’s fill out our books too…”

He trailed off, then opened his mouth. He seemed to have made a decision.

“Chief Secretary Go.”

“Yes, Chairman.”

“Contact Standard. Let’s test my kid’s mettle.”

Lee Dae-soo’s face looked like he was looking forward to his grandson’s antics.

***

After finishing my work in the United States, I was preparing to return to Korea. I had also packed the business materials related to Standard Capital and Haedong Group, so I just had to catch my flight tonight.

“You’re leaving again?”

“I have to. Korea is also my stage.”

I couldn’t establish a Korean branch of Standard Capital yet, so I had to take care of my own affairs and my family’s affairs by traveling back and forth across the Pacific.

As I smiled wryly at Claire, she grabbed her cell phone.

“Hello, this is Claire… Ah, yes. I understand, Mr. Go. Please wait a moment.”

Claire covered the receiver with her hand and said to me.

“It’s Chief Secretary Go Seung-ju. He’s asking to speak to you.”

‘Why is this guy calling all of a sudden? Did something happen?’

I took the phone and lowered my voice.

“I’m sorry I couldn’t contact you, Uncle. I’ve been so busy with work… Yes. Our side has finished the settlement. Is everything okay at the main house?”

[Hoo-, I don’t know what to say.]

While I was wondering who, my grandfather or I, had earned more chips, I heard Go Seung-ju’s sigh and felt a chill down my spine. Henry must have distributed the profits to the Korean investors according to the contract, right?

“Is something wrong, Uncle?”

[Well, that’s… The Blue House…]

Go Seung-ju told me what had happened in Korea while I was staying in the United States.

“600 billion won?”

[Yes. We made quite a lot because our betting was big, but Taehyun, Shinseong, and GK are very unhappy because they suffered losses. Even though there were incidents like the Jijonpa case [a notorious crime ring], there were no facility accidents thanks to Myungjin, but the ruling party guys seem to be crazy because of the election.]

I staggered for a moment after hearing that.

Originally, my grandfather would have retired from the front lines and waited for the day he would pass away. And the ruling party was destined to have its lame duck status accelerated due to various safety accidents such as the Seongsu Bridge and Sampoong Department Store collapses.

I had taken it into account to some extent, but I didn’t know that the two strands of fate that I had changed would become so entangled and cause a butterfly effect… I shook my head, dazed for a moment, and said into the receiver.

“I’ll handle the Treasury bond issue and go back, Chief Secretary. Please tell them to postpone it until I return.”

If my grandfather turns his back on the ruling party, there will be setbacks in the overseas business ventures that are still piled up like mountains. I have to deal with the immediate problem first and go back to Korea to stop him.

As soon as I hung up, Seon Hae-cheol was the first to speak.

“600 billion won? Henry distributed the profits according to the contract, right? What’s this about Treasury bonds?”

Seon Hae-cheol, who had been watching me throughout the call but had been holding back, was clearly flustered. Park Tae-jin and Claire, who were next to him, were also looking at me with incomprehensible expressions.

“They said they’ll quietly handle our group’s accounting irregularities, so they told us to acquire Treasury bonds. It’s 8 percent per annum with a 10-year maturity… It seems like we’re being shaken down because of the local elections.”

I bit my lip as I spat out the words.

I tried to make it a legal transaction by bringing in other chaebols and putting Triumph forward as a player to bet on the high yen, but I overlooked the local elections coming up in June.

Aren’t politicians always short of money during election season? HanGo Group took advantage of that gap, slipped them election funds first, and then had them squeeze our money.

After that, when I told them about the domestic situation that I had heard from Go Seung-ju, all three of them looked at me with surprised eyes.

“Other guys did more accounting fraud. They force us to balance the books and, not only that, they lend the money they squeezed out to another guy? What country is this?”

Seon Hae-cheol’s face was contorted even as he shouted…

“You’re right, Hyungnim [term for older brother or respected male figure], Young Master. We’ll be squeezed out of at least 300 to 400 billion won by the government, but this is…”

Park Tae-jin was speechless with disbelief…

“That’s ridiculous! It was designed within the framework, so how can the government do that? Is the Korean president crazy?”

Even Claire, who was American, shouted with a vein in her neck.

“We’ve only just chased out the soldiers, Claire. It’s still a long way to go before real democracy begins.”

The current president was an anti-dictatorship fighter, but he couldn’t abandon his authoritarian side. His aides believed in that president and threatened my family to give them money. Those bastards who should be split in half from the crown of their heads to their crotches.

Claire also raised her voice, but sighed when she saw the bitter expression on my face.

There’s no point in just being angry about being squeezed out of money if I’m going to face my grandfather.

Isn’t that why I’m doing this, coming to the other side of the world to raise my family, and then use the power of that raised family to win revenge and love?

I rubbed my face, trying to sort out my thoughts, then took my hand off my face and said.

“Claire, please make an appointment with Henry.”

“Is it because of the Treasury bonds?”

“We have to recover it in cash somehow. It would be better to invest it elsewhere.”

There are three years, no, two and a half years, left until the storm hits. Considering the rising won-dollar exchange rate, it would be more profitable to convert the hundreds of billions of won tied up in Treasury bonds into dollars and expand Haedong Group’s Hispania.

Claire nodded at my words.

“Okay, Just a moment.”

Claire picked up her cell phone and dialed a number.

“Yes, Father. Johnny said he wants to meet because of business. How about it? Yes. I understand. Yes.”

I felt good because it seemed like her relationship with Henry had recovered a lot, seeing her call Henry her father. Claire smiled brightly after hanging up.

“He said he wants to see you on Saturday evening, is that okay? He said let’s have dinner first because we haven’t seen each other since the settlement?”

It seems like things will work out well seeing Claire’s bright smile. But there’s no such thing as a free lunch, so if I have to make a deal, I’ll gladly do it.

***

A few days later, Saturday evening.

We arrived at Henry’s mansion by car, and we quickly got out of the car and greeted Henry, who was waiting in front of the gate.

“How have you been, Henry?”

“I’ve been great. Thanks to you, Johnny, I have nothing to wish for if it’s like this these days. Let’s go in and have dinner first, haha.”

Henry shook hands with me, who had straightened up, and then led us to the dining room.

We sat at a long table that would be found in the mansions of European royalty or nobles, and we ate the course meals that the employees brought and set up with handcarts. Of course, we also exchanged wine to loosen the atmosphere.

Henry took a sip of wine, wiped his mouth with a napkin, and said.

“The way people inside and outside the company look at me and my faction has changed a lot because of this. I don’t know how to thank you, Johnny.”

Henry became the biggest winner of the yen speculation, taking the nickname ‘Yokai (妖怪, monster)’ that George Soros should have taken.

Henry and his faction also collected the Triumph Capital convertible bonds held by Haedong Group, Shinseong, Taehyun, and GK Group in the profit distribution process.

‘Henry is not an ordinary strongman either.’

Henry used all of his personal assets in this betting to guarantee all the funding raised, including the convertible bonds issued to our family and the three groups. I knew it would succeed, but Henry bet solely on my plan and Claire, Seon Hae-cheol.

Anyway.

This yen speculation was carried out only with the money of Henry and his subordinates under the name of Triumph Capital. Henry and his faction took over all the convertible bonds with the profits from the yen speculation and converted them into stocks, so they gained a high ground in the internal struggle.

“Congratulations, Henry.”

“Congratulations, my foot. It’s all thanks to you, Johnny, my daughter, my friend, and Mr. Park. Here! Have another drink.”

When Henry snapped his fingers, the sommelier who was waiting next to him filled the Romanee Conti, which he was holding wrapped in a cloth. We were already drinking our second bottle, and we were drinking the precious wine, of which less than 10,000 bottles are produced each year, like water.

We looked at each other and slightly tilted the glasses we each held, and we emptied the wine.

My nose was captivated by the sweet and stimulating scent, and each of my taste buds was screaming with joy at the texture that was as soft and delicate as silk, yet rich and powerful.

“It’s really wonderful. It seems like it’s not called the magic wine for nothing, haha.”

“Johnny, you have a great sense of investment and taste. If you like it, I’ll give you a case of it, haha.”

Seeing Henry’s smile, it seems like I can talk about our family’s problems after dinner.

***

So we finished dinner, chatting with Henry, and went to the drawing room to drink cognac.

“I didn’t think it was appropriate to talk about it at the dinner table, so I’m asking now. What business did you want to see me about?”

“I heard news from the main house that they will acquire Korean Treasury bonds.”

Henry’s eyes, visible over the monocle, sparkled.

“Korean Treasury bonds… what’s the rate of return?”

“It’s 7 percent per annum with a maturity of 10 years. The size is 400 billion won based on the principal.”

Henry tilted his head with an expression of disbelief and moistened his lips with cognac.

“The rate of return isn’t bad… It’s strange that you want to sell it. Aren’t government bonds issued by a country like Korea the basis of asset management?”

If asset management is like soccer, government bonds issued by a country like Korea are goalkeepers or defenders. Nevertheless, in a few years, those goalkeepers and defenders will not be able to do their job and will become disabled, so I had to release them quickly.

Unable to tell the truth, I changed the subject.

“Next year is the US presidential election, right? I know that Wall Street capital is already lining up with the Democratic Party and Clinton.”

“That’s right. Jobs are increasing and the economy is getting better thanks to IT investment, so it’s likely that he’ll be re-elected. Gamblers smell it and rush in.”

The US presidential election is a festival of money. The funds officially executed by both parties alone are in the trillions of won, so the Korean presidential election, where hundreds of billions of won are circulating including unofficial funds, can’t even show its name card [can’t compare].

Of course, that festival of money is not free. Whether it’s the US or Korea, the elected party has to pay dividends to the investors. It doesn’t matter who the victim of that dividend is.

I said to Henry, who agreed with my words.

“It’s natural that a gambling den will open after the presidential election. That gambling den will open in Asia. The finale will be held in Korea.”

Unlike me, who calmly spoke and savored the cognac, the gazes of the three people and Henry looking at me were like looking at a gypsy or a fortune teller.