The Conglomerate Family Became A Villain [EN]: Chapter 164

164. The 10 Billion Dollar Club (1)

The meeting between Chief of Staff Han Cheol-in and Congressman Jack Edinburgh stretched on for over two hours, longer than Jung Hyun-woo had anticipated.

‘These are deeper discussions than I expected.’

Today’s meeting delved into specific political and economic issues between the two countries.

“South Korea has been a long-standing ally of the United States. However, until now, it has only unilaterally received support from the U.S.”

Congressman Edinburgh emphasized that South Korea should alleviate the burden on the United States.

In contrast, Chief of Staff Han Cheol-in expected a significant concession, a gift befitting the President’s visit.

In 1985, South Korea was still in a position to receive rather than give to other countries.

“We are well aware of the support from the United States. However, our country is still a developing nation. We hope to repay the support we have received once we have developed further.”

Jung Hyun-woo was fluent in both English and Korean, so he had no difficulty interpreting, despite it being his first time. He conveyed both men’s words quickly and accurately.

“We cannot simply accept this request.”

The issue that Congressman Edinburgh drew a line on was the introduction of the latest fighter jets.

He suspected that this fighter jet introduction project included astronomical kickbacks.

‘The fighter jet introduction project must be a way of creating slush funds.’

He was well aware that dictators often used the introduction of the latest weapons to create secret funds.

“If you cannot simply accept it, what is the problem?”

Jung Hyun-woo quickly translated Congressman Edinburgh’s response.

“Shouldn’t South Korea’s political system be more advanced?”

Chief of Staff Han Cheol-in wore a troubled expression.

“Are you perhaps talking about constitutional reform?”

Constitutional reform.

This meant a direct presidential election.

In 1985, the people of South Korea could not directly elect their president. As explained earlier, South Korea was holding indirect elections that favored the ruling party, much like Thailand in the 21st century.

Chief of Staff Han Cheol-in could never accept this.

‘Even if the President’s visit to the U.S. fails, I cannot accept this.’

According to the results of the general election held in February, there was a high possibility that the President of South Korea would change if a direct election were held.

In short, it was a condition that the Blue House [South Korean equivalent of the White House] could never accept.

“We do not want constitutional reform.”

They did not want a direct presidential election.

Chief of Staff Han Cheol-in breathed a sigh of relief at this one statement.

“Hoo… I see. Then, in what areas do you want democratization?”

Jung Hyun-woo was also curious about this point.

‘If not a direct presidential election, what are the U.S. and the Republican Party demanding?’

Congressman Edinburgh replied.

“We demand the release and amnesty of opposition politicians.”

The release and amnesty of opposition politicians.

Chief of Staff Han Cheol-in clenched his fist tightly.

“Are you saying you will push for DJ’s return?”

During this period, the giant of the opposition party, DJ [Kim Dae-jung, a prominent South Korean politician and future president], was staying in the United States as if in exile. He was the biggest obstacle to the South Korean New Military and the ruling party.

“Since he has said he will return, I don’t think the South Korean government can refuse.”

Accept DJ’s return.

Congressman Edinburgh was saying this.

Chief of Staff Han Cheol-in clenched his fist again.

“That is too big of a demand.”

Congressman Edinburgh tilted his head, listening to his words translated through Jung Hyun-woo.

“If that is a big demand, how do you intend to accept other demands?”

Chief of Staff Han Cheol-in realized that the U.S. demands were not small.

“What other demands are there?”

Jung Hyun-woo quickly translated Congressman Edinburgh’s demands. The Republican Party was urging the opening of the Korean market.

Chief of Staff Han Cheol-in groaned softly as he listened to his demands.

“Um, opening the rice and beef market is difficult.”

He emphasized to Congressman Edinburgh that South Korea’s national income was only 1/10th of Japan’s.

The beginning of the bubble economy.

Japan’s economic power overwhelmed South Korea.

Chief of Staff Han Cheol-in said that Japan opening its market and South Korea opening its market were completely different issues.

Then, Congressman Edinburgh sighed deeply.

“Hoo… Does Chief of Staff Han not intend to accept any of our demands?”

As Congressman Edinburgh narrowed his brows, Jung Hyun-woo slightly raised his tone to interpret.

This was a gesture to emphasize Congressman Edinburgh’s strong tone.

Chief of Staff Han Cheol-in knew that not everything was going according to the Blue House’s wishes.

‘We must discard what must be discarded and obtain what must be obtained.’

He took a deep breath.

“Um, I understand. I will allow DJ’s return. However, there must be a quid pro quo for this.”

He was saying that DJ’s return could not be allowed with just the fighter jet introduction project alone.

Jung Hyun-woo thought he wanted the opening of the rice and beef market in return.

‘In 1985, economic aspects are the most important.’

Moreover, South Korea was preparing for the Asian Games. If the public sentiment of the farmers wavered in this situation, the foundation of the regime could be shaken.

‘Unlike the 21st century, there are still quite a few farmers.’

Congressman Edinburgh slowly nodded and said.

“If you allow DJ’s return, we will reduce the pressure to open the market on our side.”

The answer matched his expectations perfectly.

‘Are we giving and taking one thing at a time?’

If the negotiations ended like this, it could be a slightly disappointing result for the Blue House.

However, Congressman Edinburgh presented one more carrot here.

“And I will allow the President to address Congress. How about that?”

The South Korean President’s address to the U.S. Congress.

Congressman Edinburgh thought it would look good to announce DJ’s visit to the U.S., amnesty, and the release of opposition figures at this venue.

Chief of Staff Han Cheol-in also knew what Congressman Edinburgh’s intentions were in bringing up the U.S. Congressional address card.

‘He’s saying let’s put on a proper performance.’

He nodded greatly and agreed to Congressman Edinburgh’s proposal.

“I understand. I will accept those conditions.”

The Blue House’s idea was to use DJ as much as possible if they could not stop his return.

Congressman Edinburgh smiled at his agreement.

“You have thought well.”

If the South Korean President talked about DJ’s amnesty and return in the U.S. Congress, the U.S. Congress and the Republican Party could take credit for bringing about South Korean democratization.

“Please take good care of me.”

As Chief of Staff Han Cheol-in extended his right hand, Congressman Edinburgh took his hand.

“We hope things go well on our side as well.”

The two were able to conclude the meeting in a not-so-bad form, each gaining one important thing.

Jung Hyun-woo sighed deeply inside after the meeting ended.

‘Hoo… That was close.’

He thought there was nothing more headache-inducing than being connected to the political world.

“Hyun-woo, you’ve worked hard.”

Jung Hyun-woo gave a faint smile.

“It’s for the country, so it’s okay.”

He and Chief of Staff Han Cheol-in left the villa without a meal or small talk.

Then, they got into the limousine that was waiting.

“Chief of Staff, shall we go straight to the airport?”

Chief of Staff Han Cheol-in nodded.

“The staff are waiting at the airport.”

He had arrived yesterday and rested for a day, so he didn’t think he needed more rest.

‘I need to go back as soon as possible and inform them of the negotiation details.’

Jung Hyun-woo asked the driver to go to the airport. Then, the limousine smoothly turned and left the villa.

On the way to the airport.

Chief of Staff Han Cheol-in picked up the document envelope he had placed next to him.

“Hyun-woo, this is a gift.”

Chief of Staff Han Cheol-in’s gift.

Jung Hyun-woo had heard from Senior Secretary for Civil Affairs Heo Moon-young that he would bring a gift.

“Is this a gift for me?”

“Open it.”

Jung Hyun-woo tilted his head.

‘Land? Or a building?’

He thought what was in the document envelope was a registration document.

But what was inside was not such a material thing.

“This is!”

Chief of Staff Han Cheol-in laughed softly.

“Huhu, you won’t have any problems entering and leaving South Korea from now on.”

What he handed to Jung Hyun-woo was a physical examination notice containing the contents of his military exemption.

“I have never even been to the Military Manpower Administration.”

During this period, people commonly called it the Military Manpower Administration, but the exact name of the place where physical examinations and military service judgment results were issued was the Regional Military Manpower Administration Military Service Judgment Center.

Jung Hyun-woo had never been to this Military Service Judgment Center, nor had he ever received a physical examination notice.

But in his hand was a notice containing the contents of his military exemption.

“That’s not important.”

In 1985, the New Military and the Blue House held absolute power in South Korea.

Giving a young man a military exemption was nothing to them.

Chief of Staff Han Cheol-in added.

“If you are worried about immigration records, don’t worry. I’ve taken care of that too.”

This meant that according to government records, Jung Hyun-woo had entered the country, received a physical examination, and then received an exemption.

“You’re putting a lot of thought into this.”

Chief of Staff Han Cheol-in smiled.

“He’s someone who will do great things for the country, so minor obstacles shouldn’t be a problem.”

Jung Hyun-woo sighed deeply inside.

‘Hoo… Minor obstacles?’

Was it because he had served as a non-commissioned officer in his previous life?

He felt a slight aversion to the words that took military service lightly. But he did not reveal it outwardly.

‘The other party is the Chief of Staff of the Blue House.’

The Chief of Staff of the Blue House was the President’s right-hand man and closest aide. Offending him would not benefit him or the Daewoon Group.

“Thank you for taking care of even the smallest details.”

Chief of Staff Han Cheol-in waved his right hand and said.

“Considering your hard work today, this is a small reward. I hope we can have a meal together when you return to Korea.”

An invitation to dinner from the President’s Chief of Staff. Jung Hyun-woo replied that he would definitely do so.

Soon, the limousine carrying the two left the local road and entered the highway heading to the airport.

* * *

Immediately after returning home.

Jung Hyun-woo had dinner with Sarah and had a long-awaited conversation about everyday life rather than work.

“Doesn’t it seem like there are more beverage labels these days?”

“It’s not just that it seems like it, there actually are more. Pepsi and Coca-Cola are increasing their new products.”

Shopping was Sarah’s responsibility rather than Jung Hyun-woo’s. She was taking time out of her busy schedule every holiday to take care of groceries and household goods such as soap and shampoo.

“Is it because sales are falling?”

“There are many interpretations, including market expansion.”

“Hmm, is it market expansion?”

“Why are you interested?”

Sarah thought that Jung Hyun-woo wanted to invest in Coca-Cola and Pepsi.

“I’m not interested in investing there.”

“Why? Coca-Cola has a lot of dividends and is stable.”

“If I liked stability, I wouldn’t have founded Victoria Corporation in the first place.”

In the mid-1980s, there were so many better investment opportunities than Coca-Cola.

“Well, that’s true. I heard from JP Morgan that they’ve increased their investments in Japan. Is that okay?”

Jung Hyun-woo was strengthening his investments in Japan to the point where he was almost running out of funds.

“The rate of return is increasing, isn’t it?”

His assets exceeded $4 billion, excluding his stake in Victoria Corporation.

“How much did you earn this year?”

“$1.2 billion?”

“What? Does that mean your assets are close to $5 billion?”

Assets of $5 billion.

At this point, he was one of the richest people in the United States.

“I don’t think it’s quite $5 billion yet?”

Sarah looked gloomy after hearing his words.

“Haa… I’m not even close to $1 billion yet.”

She invested in stable areas such as bonds and funds. As a result, she only achieved a return of about 7%.

Of course, a 7% return was not small. Investing at compound interest, a 7% return was the rate at which the principal would double in 10 years.

“Didn’t Sarah say she would invest in Japan too?”

“I did, but it’s not a large amount in terms of the total amount.”

“Hmm, then invest in Japan now.”

Sarah tilted her head and asked.

“Are you saying there are still opportunities in Japan now?”

Jung Hyun-woo nodded greatly.

“Of course. Why else would I have increased my investments in Japan?”

He thought he could earn enough profit even after the Plaza Accord [a 1985 agreement to depreciate the U.S. dollar relative to the Japanese yen and German mark].

‘But the best thing is to invest before the Plaza Accord.’

Sarah crossed her arms after hearing his words.

“Um, should I really do it?”

She seemed to be contemplating.

“Really do it.”

Jung Hyun-woo was feeling that the Plaza Accord was just around the corner.

‘Congressman Edinburgh also said that an agreement with Japan was in progress.’

Congressman Edinburgh had mentioned negotiations with Japan during his conversation with Chief of Staff Han Cheol-in. He had hinted that an agreement with Japan was near, so it would be good for Korea to move quickly.

Sarah unfolded her arms and raised her right hand.

“Okay. Then I’ll put in half.”

Jung Hyun-woo shrugged and accepted her words.

“Why are you telling me that while looking at me?”

“Charlie has to take responsibility if there are losses.”

Jung Hyun-woo chuckled at her words.

“Don’t worry. There will be no situation where I am responsible for Sarah’s losses.”

Sarah narrowed her eyes at his firm statement.

“Come to think of it, you must have heard something good today.”

Jung Hyun-woo nodded and accepted her words.

“They’re negotiating with Japan.”

“With Japan?”

“Wouldn’t the announcement be in a way that favors the United States?”

Sarah frowned at the story.

“Umm, if the announcement is in a way that favors the United States, shouldn’t we invest in the United States rather than Japan?”

She thought Jung Hyun-woo was miscalculating something.

‘Is there something I don’t know?’

The direction of investment could change depending on something she was not aware of.

Jung Hyun-woo answered her question.

“Sarah, even if the negotiations end with a result that favors the United States, it doesn’t mean that American products will immediately sell like hotcakes.”

Sarah nodded as if she understood his words.

“Hmm, so even if the negotiations end favorably for the United States, the strength of the Japanese economy will continue for a while.”

“That’s right.”

“But stocks are aimed at the future, not the present. Wouldn’t investment experts think about that too?”

Sarah thought there was a possibility that the Japanese stock market would plummet as soon as the announcement was made.

“What if the market is more solid than investment experts think?”

“Then investment banks like JP Morgan will suffer losses.”

“Someone’s loss will turn into someone else’s gain.”

The side where the investment bank’s losses turn into profits.

Jung Hyun-woo wanted to stand on that side.

Sarah sighed and said.

“Haa… Just listening to Charlie’s stories makes it seem like making money is the easiest thing in the world.”

Jung Hyun-woo’s accuracy rate was higher than Peter Lynch of the Magellan Fund.

“It probably seems easy because I have access to information that others don’t.”

Sarah buried herself in the sofa and said.

“I agree that Charlie has access to deeper information than ordinary people. But there are surprisingly many people who have access to information like Charlie.”

Investment experts on Wall Street.

High-ranking officials in Washington.

Financial officials, including the Federal Reserve Board.

And their families.

They were constantly exposed to information similar to what Jung Hyun-woo was exposed to.

But not all of them succeed in investing.

“Is it the difference in analytical skills?”

“Are you saying that a small difference in analysis makes a big difference in the results?”

“Could it be?”

“If it’s as Charlie says, that’s the only thing left.”

Jung Hyun-woo said calmly after hearing her words.

“Maybe I’m just lucky.”

Sarah thought.

It’s not just luck.

‘Luck is only possible once or twice.’

She thought that if it exceeded three times, it was skill, not luck.