The Conglomerate Family Became A Villain [EN]: Chapter 204

204. 1986 (2)

Chief Secretary Han Cheol-in brought up the 1988 Seoul Olympics, not the Asian Games, as his second topic.

“I hope Hyun-woo will lend his strength to ensure the success of the Olympics.”

During this period, the South Korean government believed that successfully hosting the Olympics would quell social discontent.

However, that was not the case. Rather, the Olympics accelerated South Korea’s globalization and democratization, and the military regime was forced to face even greater pressure.

‘Of course, it’s not yet time for a democratic government to be established.’

Jung Hyun-woo nodded and said.

“It’s only natural to lend a hand to such a large event like the Olympics.”

Chief Secretary Han Cheol-in smiled brightly at Jung Hyun-woo’s words.

“Thank you, Hyun-woo.”

Jung Hyun-woo wanted to take it a step further.

“For the 1988 Olympics, would it be alright to send some staff to Korea this time?”

To observe the Asian Games and determine what Victoria Corporation could do, it was necessary to have a good understanding of the local situation.

Since Jung Hyun-woo couldn’t go himself, he wanted to send a technical team to assess the situation.

“If Hyun-woo wants it, what’s there that can’t be done? Chief Secretary Jung, isn’t that right?”

At Chief Secretary Han Cheol-in’s question, Senior Secretary for Civil Affairs Heo Mun-young nodded.

“As the Chief Secretary says, what could be impossible?”

Jung Hyun-woo smiled faintly at their permission.

“Then, knowing that you’ve permitted it, I’ll proceed accordingly.”

Chief Secretary Han Cheol-in turned his gaze back to Jung Hyun-woo and said.

“Before sending people, make sure to give this friend a call.”

“Understood.”

The conversation with Chief Secretary Han Cheol-in wasn’t bad.

‘However, the extent of contribution to the Olympics hasn’t been determined.’

If the amounts desired by both sides differed greatly, problems could arise later.

Jung Hyun-woo wanted to clarify that vague standard at this point.

“What level of Olympic sponsorship are you looking for?”

The Olympic sponsorship Jung Hyun-woo mentioned included both official and unofficial sponsorships.

Chief Secretary Han Cheol-in seemed to have thought about it in advance and immediately gave an answer.

“We hope the official sponsorship will be over $10 million, and for the unofficial part, contribute as much as you see fit.”

The difficult part was the latter.

That is, the unofficial sponsorship.

‘Bribes to politicians must be included in this.’

Jung Hyun-woo sighed briefly inwardly and said.

“I’ll make the official part $20 million. And for the unofficial part, would $5 million each for those related to the government be acceptable?”

At this time, $5 million was similar to $50 million in the 2020s.

Chief Secretary Han Cheol-in was pleased with both the official and unofficial amounts.

‘He’s generous, perhaps because he does business in the United States.’

He nodded and said.

“That should be sufficient.”

Spending $30 million on the Olympics.

If it were simply a bribe, it could be said to be the height of inefficiency. But Jung Hyun-woo had a separate plan.

‘The Olympics are a global festival. There’s a reason why global companies are becoming Olympic sponsors.’

He was thinking of changing the direction of Victoria Corporation once more, starting with the Olympics.

“Are all the important topics finished?”

Chief Secretary Han Cheol-in turned his gaze to Senior Secretary for Civil Affairs Heo Mun-young.

“This side is finished, but do you have any remaining matters to discuss?”

Jung Hyun-woo realized that the two were not meeting him for the same purpose.

‘It seems the Senior Secretary for Civil Affairs Office has a separate request for me.’

His gaze also turned to Senior Secretary for Civil Affairs Heo Mun-young.

“Hyun-woo, the South Korean government has an unofficial request. Would you be willing to consider it?”

Jung Hyun-woo thought it was redundant.

‘I think everything mentioned in this meeting is unofficial.’

He replied with a nonchalant expression.

“If it’s a request from the South Korean government, I will consider any matter positively.”

Senior Secretary for Civil Affairs Heo Mun-young nodded slightly and said.

“Thank you. Although I said the government, it’s actually a matter requested by the National Security Planning Agency [NSPA, the South Korean intelligence agency].”

A request from the NSPA.

Jung Hyun-woo sighed briefly inwardly.

‘Hoo… This won’t be easy.’

He put his hands together and asked.

“If it’s a request from the NSPA, is it confidential?”

“Depending on the person, it might be considered confidential.”

If Senior Secretary for Civil Affairs Heo Mun-young said this much, it didn’t seem like a light matter.

“It’s a bit burdensome. But I’ll listen.”

Senior Secretary for Civil Affairs Heo Mun-young cleared his throat and said.

“The National Security Planning Agency wants to send someone to your company.”

Jung Hyun-woo frowned upon hearing his words.

“Are you talking about a false employment [a cover identity]?”

Intelligence agencies in various countries often received help from their own companies when conducting espionage activities overseas.

Israel’s Mossad went a step further and received help not from companies but from the Jewish community.

“It’s not a false employment.”

Jung Hyun-woo sighed in relief at Senior Secretary for Civil Affairs Heo Mun-young’s answer.

‘Hoo… It’s not the most difficult thing.’

False employment might seem like simply hiring a few people into the company.

However, from a political perspective, it was not that simple. Depending on how it was framed, it could be expressed as treason or defection.

“They want to learn your company’s technology.”

“What kind of technology exactly?”

“Hacking.”

Jung Hyun-woo frowned.

“Are you saying they want to learn hacking at our company?”

Senior Secretary for Civil Affairs Heo Mun-young sighed briefly.

“Hoo… I don’t know the details well either. I’m not very interested in that field. However, it seems a certain incident in New York has caught the attention of the National Security Planning Agency.”

Jung Hyun-woo recalled the City Services hacking incident and unfurrowed his brow.

“You’re talking about the incident last year.”

“So you know about it.”

“Our company’s technical team worked with the CIA to catch the hackers.”

“I see. It seems the National Security Planning Agency wants your company’s technical skills.”

The security system being researched with the CIA could not be shown to the National Security Planning Agency.

However, other security programs were fine.

‘Would a basic firewall system be enough?’

He thought that since it was a matter requested by the National Security Planning Agency, he had no choice but to accept it.

“If you send me a resume from Korea, I will prepare for them to be hired.”

Senior Secretary for Civil Affairs Heo Mun-young raised his voice slightly, as if relieved of a great burden.

“Thank you.”

Jung Hyun-woo thought that he had granted what the two wanted, so now it was his turn.

“Chief Secretary, I also have a request. Would that be alright?”

Chief Secretary Han Cheol-in took his words as if he had been waiting.

“If it’s a request from Hyun-woo, of course, we must grant it. What is it?”

“Recently, our company has been focusing on real estate development.”

Chief Secretary Han Cheol-in was well aware of the partnership between Victoria Fund and Kajima Construction.

“Are you saying you want to develop real estate in Korea as well?”

Jung Hyun-woo answered his question.

“I want to participate not in simple real estate development but in new city development.”

“Hmm, new city development, you say.”

“I understand that the Ministry of Land, Infrastructure and Transport has established some outlines.”

The massive surge in real estate prices in South Korea came before and after the Olympics. Therefore, the first phase of new city development plans had not yet been clearly established.

“Do you have any areas in mind?”

Jung Hyun-woo hadn’t thought about this in advance either. However, he had no intention of paying a large sum of $30 million without any compensation.

“I would like it to be close to Seoul, and I think the south side of the Han River would be good.”

The south side of the Han River.

This meant investing in the Gangnam area, not Gangbuk [north of the river, traditionally less affluent].

“Hmm, there’s Gwacheon recently, but…”

The Gwacheon Government Complex, which could be said to be the second government building of South Korea, began its first occupancy in 1982, and the Ministry of Economy and Finance was scheduled to move in next month.

The government was promoting new city development, such as building apartments around the government complex.

“Gwacheon might be seen as preferential treatment.”

Obvious preferential treatment was uncomfortable for both parties.

Chief Secretary Han Cheol-in nodded at Jung Hyun-woo’s words.

“Hyun-woo, you are always so thoughtful.”

He turned his gaze to Senior Secretary Heo Mun-young.

“Senior Secretary Heo, do you have any places in mind?”

Senior Secretary Heo Mun-young replied.

“Sunjin Group has taken Jamsil, and other than that, the south side of the Han River has Seongnam, Gimpo, and Anyang.”

Jung Hyun-woo knew that the most lucrative area was the Seongnam development, centered around Bundang.

‘But this is too conspicuous.’

The best place and the worst place.

He wanted something in between.

“What about around Anyang?”

Chief Secretary Han Cheol-in tilted his head.

“Is Anyang alright?”

“There are places to develop to the west or east, and it’s also adjacent to Seoul to the north, isn’t it?”

Chief Secretary Han Cheol-in asked Senior Secretary Heo Mun-young.

“If we decide on Anyang, are there any vacant spots?”

The Senior Secretary for Civil Affairs was not an urban development expert. However, Senior Secretary Heo Mun-young had some knowledge of the Gyeonggi Province and Seoul area.

“Since Anyang’s old city area is connected to Seoul, how about releasing the outskirts?”

“Release the outskirts?”

“There are development restriction zones [green belts], aren’t there?”

The two were hot-blooded, as befitting high-ranking officials in the 1980s Blue House [South Korean presidential residence].

‘I was thinking of land in the Sanbon or Pyeongchon new city areas, but they’re releasing development restriction zones…’

This was an unexpected benefit for Jung Hyun-woo.

Chief Secretary Han Cheol-in asked Senior Secretary Heo Mun-young.

“If we release the development restriction zone, won’t there be complaints?”

“We can release appropriate areas.”

“Appropriate areas?”

“Areas close to residential areas and far from military bases.”

Chief Secretary Han Cheol-in groaned softly.

“Hmm, then you take care of that.”

Senior Secretary Heo Mun-young raised the end of his words slightly at his instruction.

“What about the Ministry of Construction?”

As of 1986, the Ministry of Construction existed separately from the Ministry of Transportation.

“I’ll discuss that with His Excellency [the President] and let you know.”

Releasing development restriction zones was not easy even for the Blue House staff, so they had to get the President’s permission.

Jung Hyun-woo bowed slightly and said.

“Chief Secretary, I won’t do it if it causes trouble for His Excellency.”

Chief Secretary Han Cheol-in raised his right hand at his words.

“Hyun-woo, this isn’t that burdensome. The report to His Excellency is a formality, so don’t worry. I’d like to give you Gwacheon or Seoul if I could, but since you declined, we’ll have to handle Anyang well.”

He expressed the release of the development restriction zone as handling it well.

“I’m worried that I’ve caused trouble for the Chief Secretary.”

“No, it’s alright.”

Chief Secretary Han Cheol-in thought it wasn’t good to receive unilaterally.

‘This side also needs to give something for the relationship to last long.’

He wanted to maintain a long-term relationship with Jung Hyun-woo.

* * *

As soon as Jung Hyun-woo returned to the hotel, he was met with Sera’s fierce eyes.

“S, Sera?”

He thought she might have misunderstood something.

‘She must be mistaken that I went to an entertainment establishment.’

The entertainment industry in Japan in the 1980s was enjoying a boom along with the bubble economy.

The central areas, including Ginza, were lined with high-end bars and entertainment establishments.

Jung Hyun-woo’s pockets were more than full, so he could even rent out entire bars or establishments.

Sera sighed briefly.

“Ha… Mr. Peer was very worried. He was here until recently, sighing deeply.”

Jung Hyun-woo shrugged and asked.

“John was worried about me?”

He thought John Peer might have seen someone who looked like him and was mistaken.

‘There are many people who look similar from behind.’

Sera put down the glass she was holding and replied.

“Yes, very, very worried.”

“Sera, don’t worry. I wasn’t dragged to any strange places.”

“Dragged to strange places?”

Jung Hyun-woo asked with an embarrassed face.

“Weren’t Sera and John worried because they thought I went somewhere strange?”

Sera tilted her head at his question.

“That’s not the reason. Mr. Peer was worried because Charlie changed the conditions without consulting him.”

Changed the conditions without consulting him.

One thing flashed through Jung Hyun-woo’s mind. He thought that matter was a bit unfair.

“Are you perhaps talking about the interest rate?”

Sera crossed her long, white legs and replied.

“So Charlie knows.”

“No, I really didn’t change it arbitrarily. Kajima Construction wanted to discuss the detailed conditions, but John wasn’t receiving calls at the time.”

1986 was after the commercialization of mobile phones. However, they were as big as red bricks, so they were hardly portable.

Jung Hyun-woo, Sera, and even John Peer did not use these huge mobile phones.

“So you’re saying Charlie handled it because John wasn’t receiving calls?”

“I just told Mr. Tanaka what I thought when he asked.”

Sera roughly understood what had happened.

“Yu Tanaka heard Charlie’s story and handled the matter, and Mr. Peer thought it was Charlie’s unilateral decision?”

“I guess that’s about it. But is the procedural issue that important?”

Sera picked up her glass again.

“It’s not just the procedure. He said the content is also a problem.”

Jung Hyun-woo sat down opposite her and raised his voice.

“Isn’t there anything wrong with the content?”

Sera’s voice was louder than expected, so Jung Hyun-woo took this matter seriously.

“Why isn’t there a problem?”

“What I heard from Mr. Tanaka was this: whether to set the interest rate as a fixed rate or a variable rate.”

A fixed interest rate was the same expression as a fixed rate.

“Of course, it’s a fixed rate, isn’t it?”

President Mori of Kajima Construction had offered a groundbreaking interest rate of 4% or less.

Jung Hyun-woo raised his right hand at Sera’s question.

“That’s not right.”

Sera narrowed her eyes.

“Charlie genuinely chose a variable rate.”

A variable rate could benefit if the interest rate decreased later, but basically, the interest rate itself was higher than a fixed rate.

“Yes. I genuinely chose a variable rate.”

Sera widened her narrowed eyes and said.

“If the interest rate increases by just 0.1%, tens of millions of dollars in interest will be paid more over several years. Choosing a variable rate means the interest rate will increase by as much as 0.3%.”

0.3% meant paying over $100 million more in interest.

“But if the interest rate decreases, you can benefit in reverse.”

Sera took another sip of her drink, as if frustrated by his words.

Clink.

She put down her glass and said.

“To really benefit properly, it needs to go down by 0.5%, right? Does Charlie think that’s possible within this year?”

The interest rates in the United States and other countries were decreasing, but the pace was slow.

“The interest rate will decrease sharply starting this year.”

Sera frowned at his answer.

“Charlie, is there something you haven’t told me?”

It was a question of whether he had heard something from high-ranking officials in the US government.

Jung Hyun-woo raised both hands to shoulder height and replied.

“There’s nothing I haven’t told Sera. I was just thinking about the Plaza Accord [an agreement to depreciate the US dollar].”

Sera asked him.

“Isn’t the Plaza Accord about increasing the value of the yen?”

To increase the value of money, it was better not to lower the interest rate.

‘If a lot of yen is released into the market, its value will fall.’

Her thinking was perfectly normal.

However, Jung Hyun-woo knew the future after the Plaza Accord.

“The Japanese government doesn’t want a recession due to the rising value of the yen.”

“Charlie is saying that the Japanese government is expected to release money because it’s worried about a recession?”

“That’s right.”

There was a reason.

But it wasn’t a completely convincing reason.

“Hmm… There’s a reason, huh.”

“It seems the two of you have different thoughts this time.”

Sera stared intently at Jung Hyun-woo and said.

“Even if the two of us have different thoughts, I’ll follow Charlie.”

Jung Hyun-woo raised his eyebrows slightly at her words.

“Sera?”

“I told you, I unconditionally support Charlie.”

Unconditional support.

Jung Hyun-woo was just grateful for her heart. And he thought.

Someday, he would repay her unconditional support.