The Conglomerate Family Became A Villain [EN]: Chapter 198

198. Tokyo Agreement (2)

Sunday in Tokyo.

It was December, but the city was spared from snow.

A somewhat chilly day hung in the air.

Stylish individuals donned fashionable coats, while those more susceptible to the cold bundled up in thick padded jackets.

“The weather is warmer than in Boston.”

“Is that so?”

“Definitely.”

Tokyo’s winter could easily be considered milder than Chicago’s, and even Boston’s.

“I think I could get used to living here.”

“Here?”

The cafe Jung Hyun-woo had chosen boasted a charming European-style decor.

The two settled into a cozy seat by the window, offering a view of the bustling Tokyo streets.

Sarah slipped off her coat, hanging it on an empty chair. “Our first real break in three days.”

The first day had been consumed by meetings with executives from the construction company upon their arrival, and the next was dedicated to investment discussions with John Pierre. Thankfully, they were finally able to enjoy a proper respite on the third day.

Jung Hyun-woo signaled a waitress and ordered coffee, remarking, “We’re resting, but the people at the construction company won’t be.”

He had previously requested the executives of the Japanese construction companies to submit their business plans by Tuesday evening.

“Besides the people we met that day, many more will be working, right?”

“Everyone needed for the project will be at work.”

“Thinking about it that way, I feel like Charlie is a bit of a villain.”

Jung Hyun-woo tilted his head, a question in his eyes. “I’m a villain?”

“Is there anything worse for office workers than having to work on a Sunday?”

Working on a Sunday…

As she pointed out, few things were more universally dreaded by office workers.

‘If I had to find something worse, it would be a serious verbal lashing from a boss or unpaid wages.’

He acknowledged her words with a calm nod. “Hundreds of office workers have to come to work because of me.”

Jung Hyun-woo said hundreds, but in reality, the number was likely over a thousand.

Crafting a $15 billion business plan couldn’t be accomplished by a single department.

‘Even for a single project, if the scale exceeds a certain level, there are separate teams for architecture, civil engineering, equipment, electricity, quality control, safety, health, public affairs, management, and environmental impact. Needless to say, for a $15 billion project.’

Moreover, in 1985, documents weren’t created with the ease of computers.

All the charts, photos, and images to be used in the business plan had to be manually drawn or attached.

Depending on the company’s circumstances, more than half of the headquarters staff may have been called in to work.

“One of the five companies will be rewarded, but the employees of the losing companies might end up hating Charlie.”

Next Wednesday.

The employees of the company that won the $15 billion project would erupt in cheers of joy.

On the other hand, the employees of the companies that failed might be cursing Jung Hyun-woo’s name.

“Hey, they’ll get special overtime pay for weekend work.”

Sarah lightly tapped her teacup with a spoon at his words.

*Tang.*

A clear, delicate sound echoed.

“Charlie, don’t try to solve everything with money.”

Her words were soft but firm.

Jung Hyun-woo understood her meaning. He cleared his throat lightly. “Hmm, hmm, I know it’s not a good habit.”

Sarah raised her spoon, emphasizing her point. “You have to be more careful in the future.”

“Is it because the number of Victoria Corporation employees is increasing?”

“No, it’s because you’re going to make more money in the future. When you have more power, you’ll be tempted to use it.”

She was suggesting that the desire to solve problems with money would only grow stronger as he became more successful.

Jung Hyun-woo nodded slowly. “That makes sense.”

“When have I ever said anything that didn’t make sense?”

“Never.”

Did they say that position shapes the person?

If someone unfamiliar with Sarah’s background were to see her, they would simply see a young lady.

But she was co-leading Victoria Corporation with Jung Hyun-woo, displaying a maturity that belied her age.

“So, what are you planning to do today?”

“Because it’s Sunday, I don’t have any particular plans.”

In his past life, he would have sought out a famous restaurant or visited a popular tourist spot in Tokyo, snapping photos along the way.

But this time, he felt no motivation for sightseeing.

‘Is this what it feels like to be overwhelmed by work?’

Balancing work and leisure.

It was a difficult task.

That’s why most CEOs prioritize work over leisure.

“Let’s go to a famous restaurant today.”

“Yes?”

“I brought the Michelin Guide.”

Jung Hyun-woo was surprised by Sarah’s preparedness.

At the same time.

The five construction company employees Sarah had mentioned were indeed frowning.

“Haa… working on Sunday.”

“It would be fortunate if we just came to work. I heard that the marketing and sales departments are working overtime today.”

“What? They can’t go home tonight either?”

Someone approached from behind, raising his voice.

“I heard that some people in the estimation department are practically living at the company, eating and sleeping there.”

Gendo, the section chief of the environment department, was addressing his team.

He had been working at Sumimoto Construction for over 20 years.

“Section… Section Chief.”

“Why are you so surprised?”

“No. I didn’t realize you were listening to us, Section Chief.”

“I just overheard you while walking by. Anyway, it’s hard to even get a proper rest at the end of the year.”

The environment department employees offered awkward smiles. “It’s still fortunate. We don’t have to work in the new year.”

The deadline Jung Hyun-woo had given them was December 30th. In other words, they only had to endure overtime and extra hours until December 29th.

Section Chief Gendo crossed his arms, considering his subordinates’ words.

“I can’t guarantee that.”

The subordinates couldn’t help but pause at his ominous statement.

“Section Chief, surely not.”

“So, are you saying that we might have to work on January 1st if something goes wrong?”

“Section Chief, absolutely not.”

Section Chief Gendo sighed briefly. “I don’t know exactly, but after hearing Ono’s story, if we succeed in winning this project, we’ll have to keep working for the next few days.”

The environment department employees swallowed hard.

“It might be better to fail in this project.”

“I agree. I don’t think it’s a little too much to go to work on January 1st.”

January 1st was Japan’s biggest holiday. So, no one wanted to be at work that day.

Section Chief Gendo’s voice hardened. “That word you just said. You can say it to me, but be careful not to let other department employees or higher-ups hear it.”

It was a $15 billion project. Even for a large company like Sumimoto Construction, a project of this magnitude only came around once every 10 years.

If they expressed a desire to fail in such a huge project simply because they wanted to rest on January 1st, they could face severe consequences, potentially even termination.

The employees bowed their heads at Section Chief Gendo’s reprimand.

“I’m sorry.”

“I’ll be careful.”

Section Chief Gendo raised his right hand. “Okay, okay, let’s get back to work.”

Following his instructions, the environment department employees began to mark the possible development areas of Japan’s four major cities, including Tokyo, on the map.

Sekisui Construction.

Executives at Sekisui Construction were initially skeptical of the news that Noda brought.

But they soon realized that he was not exaggerating.

All the construction companies that had participated in the Friday meeting had instructed their employees to come to work on Saturday.

“We are at a disadvantage because we started late.”

Sekisui Construction had only begun working on the project from Saturday afternoon, putting them half a day behind their competitors.

“It would be difficult if we couldn’t complete it by Tuesday morning.”

“It’s unreasonable to create a $15 billion business plan in just three days.”

President Tomonaga of Sekisui Construction crossed his arms. “I think the key to this business plan is to make the most of the details in three days.”

As the saying goes that Japanese people are detail-oriented, they were more interested in and had strengths in detailed aspects compared to people from other countries.

“Noda, what are your thoughts?”

Director Noda had a direct meeting with Jung Hyun-woo.

“I think financial conditions are important.”

“Financial conditions?”

“Victoria Fund’s equity capital is $3 billion. This means that a $15 billion project cannot be carried out without a $12 billion loan.”

Even if you apply the average interest rate of 4% on $12 billion in loans from Japanese banks, the monthly interest alone would be $40 million.

“Are you saying that interest rates are important?”

“That’s right.”

Sekisui Construction executives groaned softly at his answer.

“Hmm, wouldn’t Shimizu Construction be more advantageous when it comes to interest rates?”

“Kajima Construction is also a strong contender. They also have a bank.”

President Tomonaga crossed his arms and sighed deeply.

“Hoo… We won’t be able to surpass Kajima or Shimizu in terms of financial conditions.”

He also believed that even Sumimoto Construction would be difficult to beat in terms of financial strength.

“President, we can’t just stand still.”

President Tomonaga narrowed his brows. “Who said anything about standing still! Tanaka, contact Mitsubishi Bank right now.”

He was planning to negotiate for a better interest rate with their primary bank.

‘Even if we receive preferential interest rates, it will likely remain in the high 3% range.’

For Sekisui Construction, the best they could do was minimize the gap with their competitors.

“Noda, is there anything else?”

Director Noda paused for a moment to gather his thoughts, then answered. “Mr. Jung said he would invest in the four major cities. This means that billions of dollars of investment will be concentrated in each city.”

“So?”

“How about proceeding with the project in the new city area?”

To reiterate, in the 1980s, Japan’s new city project [large-scale urban development projects aimed at creating self-sufficient communities with residential, commercial, and industrial zones] was the most profitable construction endeavor.

“Are you suggesting that we present the most profitable business plan?”

“That’s right.”

“But wouldn’t we need to consult with the government for the new city project?”

A new city wasn’t simply built by buying land and constructing buildings.

A new city designed to house tens of thousands to hundreds of thousands of people required government approval of an urban plan.

“How about we just go for it and then think about it?”

Since there was no time to consult with officials from the Ministry of Construction, he was suggesting they proceed without prior approval.

“It’s dangerous.”

“It’s a $15 billion project. If it’s taken away by a company like Sumimoto Construction…”

The construction company’s ranking in terms of order volume could change dramatically.

“Okay. I’ll take care of the government side, so you guys push forward with the project.”

Japanese construction companies, including Sekisui Construction, were working tirelessly to create a superior business plan within the three-day timeframe.

* * *

Jung Hyun-woo shrugged slightly at the sight of the crispy fried pork cutlet.

“It’s *tonkatsu* [Japanese pork cutlet]?”

“Do you know it?”

“It’s a Japanese-style cutlet.”

The Michelin-recommended restaurant Sarah had found was surprisingly a *tonkatsu* restaurant.

‘I expected high-end Japanese cuisine.’

The Michelin Guide didn’t exclusively award stars to luxury establishments. Since it originated as a tourist guide, this was understandable.

The Michelin Guide’s star was given to restaurants worth visiting in the area.

Therefore, if the taste and service were satisfactory, a star was awarded regardless of the price or cuisine.

“According to the guide, it’s cheap, delicious, and friendly.”

Jung Hyun-woo smiled, appreciating the clean and inviting table setting.

“I admit it’s clean.”

“What about the taste?”

“I’ll know when I eat it.”

Jung Hyun-woo reached out with his fork and picked up a piece of *tonkatsu*. Sarah watched him with an expectant smile.

Suddenly, Jung Hyun-woo’s fork paused.

“Aren’t you eating, Sarah?”

“I’ll eat after Charlie eats.”

She looked like a chef awaiting a gourmet’s evaluation.

Jung Hyun-woo put the *tonkatsu* in his mouth.

‘A well-cooked *tonkatsu* can’t be bad.’

It reminded him of the flavors he had enjoyed in Hongdae [a vibrant district in Seoul known for its youthful culture and trendy restaurants] back in the 2010s.

“How is it?”

“It’s okay. No, it’s delicious.”

“Really?”

Sarah picked up her fork, relieved. “I was worried about what would happen if Charlie was indifferent.”

“Does Sarah have such worries too?”

“I chose this place.”

Sarah seemed to feel a sense of responsibility in this matter.

Jung Hyun-woo swallowed the second piece. “It’s just like it says in the guide. It’s clean, delicious, and friendly.”

“What about the price?”

“The price is okay too.”

Jung Hyun-woo answered her question, thinking to himself.

‘It’s a reasonable price for Americans, but considering Korean prices at this time, Koreans would never call it cheap.’

The price of the *tonkatsu* set he was eating was enough to buy more than seven bowls of *Seolleongtang* [a traditional Korean ox bone soup] in Seoul.

“Charlie, have you set the standards yet?”

Jung Hyun-woo stopped eating and asked back. “Standards?”

“I’m talking about the evaluation criteria for Tuesday.”

Jung Hyun-woo had previously mentioned three conditions.

“You mean the specific criteria for each condition.”

“It’s a $15 billion project. You can’t just decide arbitrarily.”

Enjoying the meal had only lasted about three minutes.

The two were CEOs of major corporations, and even holiday meals were an extension of their work.

“Then shall we discuss the third condition first?”

“Are we going in reverse order?”

“Because it’s the easiest condition.”

Sarah nodded. “Okay. Let’s start with the third standard.”

The third condition that Jung Hyun-woo had presented to the Japanese construction companies was financial conditions.

“We won’t just look at the interest rate for financial conditions. We’re going to consider everything, including repayment terms, repayment period, and loan execution date.”

Sarah elaborated. “It would be better if the interest rate is low, the repayment period is long, the repayment fee is low, and the loan execution date is fast, right?”

“That’s right.”

“What is the weighting of this condition?”

Sarah was curious about the relative importance of financial conditions, as it was the last of the three criteria.

“About 10%.”

Sarah’s eyes widened in surprise. “Only that much?”

In a massive project exceeding $10 billion, financial conditions such as interest rates alone could determine the success or failure of the venture.

But Jung Hyun-woo was assigning an unreasonably low weight to financial conditions.

“Because the other conditions are so important.”

Sarah sighed softly. “The second one can’t really be called a condition.”

The second point Jung Hyun-woo had mentioned was the project size of $15 billion.

“No. It’s important. I don’t think there are many construction companies in the United States that can handle a $15 billion project.”

He was referring to assessing the feasibility and details of the business plan, as well as the construction company’s operational capabilities.

“Are you saying that you’re going to see whether they can actually carry out this project or not?”

“In some ways, that’s the most important thing.”

If they partnered with a construction company with poor execution capabilities, they wouldn’t be able to proceed with the investment effectively.

“Hmm, but you know what? Is this investment about buying real estate or building buildings?”

Sarah was wondering why he and John Pierre had gathered construction companies instead of real estate agencies for the meeting.

“Of course, it’s real estate purchase.”

“You’re saying it’s real estate purchase, not construction?”

“Japanese construction companies are not just building buildings, but also involved in renting, selling, and buying.”

In Korea, this would be like Samjung Construction not only building apartments but also engaging in real estate brokerage and rental businesses.

“Charlie didn’t clearly communicate that fact to the construction companies.”

Jung Hyun-woo was taken aback by her observation.

“Um, that’s true.”

Depending on the company, they might misunderstand his investment as a large-scale civil engineering project.

‘If they propose building a bridge or a railroad, it might not be completed in 10 years.’

Sarah wiped her lips with a tissue. “I have to tell Mr. Pierre.”

“Shall we discuss it tomorrow morning?”

“Wouldn’t it be better to talk about it now?”

“Now?”

Sarah put down her fork. “Because construction company employees will be working now.”

Upon hearing her answer, Jung Hyun-woo immediately started to rise from his seat.

But at that moment, something flashed through his mind.

‘That’s what it was.’

He sat back down and shook his head. “No. I think it’s better not to talk about it.”

Sarah paused, puzzled. “Why?”

“If we don’t provide detailed instructions, won’t they focus on showcasing their strengths in the business plan?”

Sarah realized his intention.

“Ah, you’re going to assess the construction companies’ strengths and proceed with the project based on that?”

“That’s right.”

Sarah found his reasoning convincing.

‘Well, if we provide specific guidelines, they’ll be limited to following those instructions.’

Increasing the project’s freedom could lead to more diverse and innovative results.

“Charlie seems to be really smart.”

Jung Hyun-woo’s face flushed slightly at her compliment.

“I’ve never really thought of myself as smart.”

“No, I’ve never met anyone as smart as Charlie.”

Sarah even considered Jung Hyun-woo to be smarter than her sister Laura, who was known as a genius.