The Conglomerate Family Became A Villain [EN]: Chapter 216

216. World’s Rift (5)

“You don’t need to go to the U.S.?”

Jung Min-seok frowned at Jung Hyun-woo’s call.

“I have some business in Korea.”

If Jung Hyun-woo was coming himself, there was no reason to refuse. Moreover, it would be more helpful for the deal if Jung Hyun-woo came in person.

“When are you coming, then? Things are urgent here.”

Currently, Daeun Construction was suffering from a financial crunch.

“I’ll be departing in two days.”

Arrival would be in three days.

Jung Min-seok nodded.

“Alright. I’ll adjust the schedule for three days from now.”

He hung up the phone and let out a long sigh.

“Hoo… I don’t know how things turned out this way.”

Despite the boon of the Three Lows [low interest rates, low oil prices, and a weak dollar], Daeun Construction’s difficulties stemmed from aggressive overseas orders, a ploy to gain an advantage in the succession race.

However, his ploy backfired as oil prices plummeted.

Beep.

Jung Min-seok checked the signal from his secretary and pressed the button.

“What’s the matter?”

“Executive Director Park is waiting.”

“Tell him to come in.”

Executive Director Park Ki-seok was the head of Daeun Construction’s Asian headquarters.

“You called for me?”

Jung Min-seok nodded and asked.

“How much is the shortfall this month?”

“About 1.2 billion won.”

“1.2 billion?”

Jung Min-seok raised his voice because the amount was higher than expected last week.

“Because the value of the rupee is falling…”

“You should have converted it sooner.”

“I’m sorry.”

Jung Min-seok frowned.

“I think I can scrape together about 1 billion, but what about next month?”

“Next month, funds from Thailand will come in, so we should be able to manage.”

“What if it’s delayed?”

Executive Director Park couldn’t answer.

“…”

No answer.

No, no plan.

Jung Min-seok frowned at the unspoken answer.

“Executive Director Park, at this rate, won’t you be pushed aside by Executive Director Jung?”

Executive Directors Jung Ki-seok and Park Ki-seok were known as the two rocks of Daeun Construction.

Currently, the two were competing for the position of Vice President of Daeun Construction.

Executive Director Park Ki-seok straightened his posture and replied.

“I will come up with a plan somehow.”

Jung Min-seok gave a faint smile.

“Yes, you must.”

He wasn’t even considering a future where he lost to Jung Min-young.

Executive Director Park was about to leave after bowing when Jung Min-seok asked.

“How’s Daeun Trading?”

Executive Director Park paused and asked back.

“What part are you asking about?”

“Performance. If I don’t know the performance, I’d like to know the atmosphere at least.”

Executive Director Park adjusted his posture and replied.

“The trading company seems to have had a very good performance in the first half of this year.”

“Very good?”

“Since the trading company specializes in import and export, wouldn’t it be benefiting from the Three Lows?”

Jung Min-seok couldn’t help but frown.

‘Hoo… While I’m having a hard time, Min-young is profiting.’

He sighed deeply inside.

“You may go back now.”

Executive Director Park bowed once more and left the president’s office.

Knock.

Outside, he met Hong Won-ik, the Chief of Staff of Daeun Group.

“Oh, Chief Hong.”

Chief of Staff Hong Won-ik tilted his head and asked.

“Did you commit a crime? You look as surprised as if you’ve seen a ghost.”

Executive Director Park gave an awkward smile and replied.

“N, no way. I was just surprised to meet someone I didn’t expect.”

“I didn’t come to see President Jung.”

“Then…”

“I came to see the Vice President.”

Executive Director Park lowered his head slightly.

“I see.”

Chief of Staff Hong Won-ik could read the atmosphere of Daeun Construction just by looking at Executive Director Park’s face.

‘The atmosphere is definitely not good.’

He thought the excessive Southeast Asian orders were the problem.

‘If Daeun Construction struggles, Daeun Group struggles too.’

Before the succession race, Daeun Group came first.

“Executive Director Park.”

“Yes, Chief.”

“If you have any difficulties, let me know. Aren’t we all part of the Daeun Group family?”

“I understand.”

Executive Director Park simply bowed his head lightly at his question. He knew that asking for help from the group’s top management was a sign of defeat.

‘No matter how difficult it is, President Jung Min-seok will not ask for help from the group’s top management.’

Currently, Jung Min-seok was even cautious about taking out loans from Hongik Bank, Daeun Group’s main bank.

He feared that if his difficult financial situation became known to Hongik Bank, it might reach Chairman Jung Woo-sun’s ears.

“Then, I’ll be on my way.”

“Take care.”

Chief of Staff Hong Won-ik frowned as he watched him turn away.

‘It would be good if they could compromise at a reasonable level.’

He didn’t want the Daeun Construction issue to fester.

* * *

Before returning to Korea, Jung Hyun-woo met with John Pierre.

“This year’s return is considerable.”

The Victoria Fund’s first-half profit exceeded $2 billion.

“We should be able to achieve a 100% return by the end of the year.”

The real estate investment in Kajima Construction was about 30% complete and could now be considered on track.

However, as the profitability of Kajima Construction and Victoria Fund increased, pressure from politicians, the media, and officials grew.

“Since we’ve made a significant profit here, we need to give some back to Japan.”

John Pierre nodded in agreement.

“Profits and donations go hand in hand in the United States as well.”

Of course, in the United States, donations were made not only to politicians but also to social and regional organizations.

“How much slush fund should we create?”

This was the main reason for meeting John Pierre today.

Jung Hyun-woo wanted to know the exact amount required.

“About $30 million should be sufficient.”

$30 million.

27 billion won.

About 1.8 billion yen.

Jung Hyun-woo clicked his tongue inwardly as he calculated the amount.

‘Tsk, in 2021, $30 million would have been well over 3 billion yen, but yen appreciation is yen appreciation.’

He put his hands together and said.

“John, can’t we create the slush fund with the funds that have already entered Japan?”

Compared to January, the yen had risen by more than 30%. Jung Hyun-woo asked if it wouldn’t be better to use the yen they already had rather than injecting more dollars in the current situation of yen appreciation.

John Pierre answered his question.

“Charlie, there are more people who want dollars in Japan than you think.”

It was strange.

Jung Hyun-woo couldn’t help but ask again.

“Even though the yen is strong, they want to be paid in dollars?”

“That’s right.”

It was yen that would increase in value if left alone. He couldn’t understand why they would insist on being paid in dollars.

‘Hmm, in an era of yen appreciation, they would naturally want to receive kickbacks in yen.’

He guessed there was something he didn’t know.

“What’s the reason for wanting to be paid in dollars instead of yen?”

John Pierre put his hands together and replied.

“Those who want kickbacks want to invest in foreign real estate.”

Jung Hyun-woo slapped his knee at his answer.

“Ah, you mean they don’t want to put the money they received as bribes in a vault, but rather convert it into foreign real estate.”

John Pierre calmly accepted his words.

“If they receive it in yen and then convert it into dollars, they have to overcome complicated hurdles like the Foreign Exchange Control Act.”

“Then it’s easy.”

John Pierre didn’t think it was as easy as Jung Hyun-woo said.

“Considering Charlie’s assets, $30 million may not be a large sum. But taking it out of the United States is no small matter.”

How to get the dollars out of the United States?

He thought this was the biggest obstacle.

‘That’s why money laundering is necessary.’

In the worst case, John Pierre was even considering meeting with money laundering experts, the Mafia.

Jung Hyun-woo smiled brightly and said.

“John, don’t worry about taking it out.”

John Pierre couldn’t relax his expression even after hearing his words.

“Charlie, are you thinking of checks? Even if you take out $30 million in checks, it will be a problem.”

If a $30 million check was cashed overseas, the U.S. authorities would be notified as a matter of course.

Jung Hyun-woo shook his head at his words.

“I’m not going to use checks or cash, I’m going to do a wire transfer.”

John Pierre stood up from his seat at the thought of doing a wire transfer in a situation where money laundering was necessary.

“Charlie! That’s impossible!”

Unlike him, Jung Hyun-woo was not agitated.

“There’s a way, so don’t worry.”

John Pierre didn’t give up easily.

“This time, I need to hear the exact method.”

Jung Hyun-woo clicked his tongue inwardly, seeing his serious expression.

‘Tsk, I can’t just make something up.’

He licked his lips slightly and said.

“I’m going to use the Korean government.”

John Pierre couldn’t help but pause at the mention of using the Korean government.

“You’re saying you’re going to launder money using the Korean government? Is that possible?”

Korea was an ally of the United States. Although the military controlled the government, the country did not launder money.

‘And to launder an amount of about $30 million, there’s no way other than something like a weapons export rebate.’

Moreover, this would take a lot of time.

“I’m going to use the Asian Games.”

John Pierre had never heard of the competition.

“The Asian Games?”

“It’s a competition like the Olympics where Asian countries gather and compete against each other.”

John Pierre nodded as if he understood the general concept.

“There’s such a competition.”

“South Korea is preparing for the 1988 Seoul Olympics. This year’s Asian Games can be said to be a prelude to that.”

John Pierre asked.

“I understand that Korea is preparing for the Asian Games. But how are you going to use the Asian Games for money laundering?”

Jung Hyun-woo lowered his voice and replied.

“I’m going to donate $60 million to the Asian Games.”

“That means…”

“The actual amount donated is $30 million, and the remaining $30 million will be a slush fund.”

John Pierre sighed briefly.

“Hoo… I understand that you’re using the Asian Games for money laundering. But doesn’t Korea also have a Foreign Exchange Control Act?”

“Of course.”

How to move the dollars in Korea to Japan?

John Pierre thought this was also a problem.

‘There’s a reason why the Mafia puts so much effort into money laundering.’

He wondered if it would be better to create a shell company and trade with it.

But this was a clear crime.

If things went wrong, he could face decades in prison.

‘This is difficult.’

Jung Hyun-woo said to him, who was deep in thought.

“When transferring dollars to Japan, the Korean government will help.”

“You mean the Korean government will legally send the dollars?”

“I’m going to use the diplomat gate to get the dollars out.”

It was the story that dollars would be moved to Japan with the tacit approval of the Korean government.

“It’s not a legal method.”

“But it’s not a method that the U.S. government or the IRS can question.”

Money laundering through the Korean government.

Even if the U.S. government or the IRS found out about it, they couldn’t make it public due to diplomatic issues.

‘They can’t stir up an ally with $30 million during the Cold War.’

In the 1980s, South Korea was the front-line base for blocking China and the Soviet Union, not North Korea.

The military regime in the 1980s emphasized this and demanded support funds from Japan to maintain peace.

The Japanese government was taken aback by the absurd story, but the U.S. government sided with the Korean military regime.

‘In the end, the Japanese government had no choice but to provide billions of dollars in aid to Korea.’

It was an absurd thing from the perspective of the 2020s, but those absurd things were possible in the 1980s.

“Using America’s ally. I understand the general idea.”

“Please finish the work in the United States by the time I return.”

John Pierre nodded lightly.

“I understand.”

Jung Hyun-woo finished the meeting with him and headed straight to the airport.

* * *

When Jung Hyun-woo arrived at the airport, agents from the National Security Planning Agency [NSP, the Korean intelligence agency] greeted him.

“Welcome, Chairman Jung.”

“Welcome.”

Because Jung Hyun-woo was the CEO of Victoria Corporation, the NSP agents called him Chairman.

Of course, Jung Hyun-woo was very uncomfortable with the title of Chairman.

“How can you do that, even Agent Kim?”

The person Jung Hyun-woo mentioned was Kim Hak-soo of the National Security Planning Agency’s Overseas Support Team 1.

He had first formed a relationship with Jung Hyun-woo in Hawaii.

“I call the Chairman Chairman, so what should I call him?”

Jung Hyun-woo was lost in thought for a moment.

‘Come to think of it, there’s no suitable title for them to use when they call me.’

Only high-ranking officials from the Blue House [the Korean presidential residence] or the National Security Planning Agency could call him Hyun-woo.

“I can’t help it.”

Since he couldn’t think of a suitable title, he couldn’t stop them from calling him Chairman.

“Chairman Jung, we’ll take you to Namsan.”

The accommodation he would be staying in was the Hyatt Hotel in Namsan. But there was also an NSP compound in Namsan.

“Are we going straight to the compound?”

“Of course not. It’s the Hyatt Hotel.”

Jung Hyun-woo nodded and left Gimpo Airport with his secretary, Luna.

Until the 1980s, no, even the 1990s, Korea’s gateway was Gimpo International Airport.

One hour later.

Jung Hyun-woo met with Geum Tae-joon, the Deputy Director of the National Security Planning Agency, at the Hyatt Hotel in Namsan.

“Thanks to you, Hyun-woo, we were able to prepare well for the Asian Games.”

This was just a greeting. Even without Jung Hyun-woo, the Asian Games would have been successful.

“Seoul is changing so much that I’m surprised every time I come.”

This was also a greeting.

Director Geum Tae-joon laughed heartily at his words.

“Korea is changing really fast. Especially Seoul, which is changing the fastest in Korea.”

“Thank you for granting my request.”

Jung Hyun-woo bowed deeply.

He was the one asking for money laundering.

Director Geum Tae-joon raised his right hand.

“How much have you done for us that we can’t even do this much for you?”

He reacted as if there was no need to think deeply.

“How is the domestic situation?”

Director Geum Tae-joon frowned slightly.

“There are many noisy friends.”

“Were they instigated by the Soviet Union or China?”

“Would it even go that far?”

Director Geum Tae-joon claimed that those who received instructions from North Korea were causing unrest in the country.

Jung Hyun-woo took his words calmly.

‘His term is only until next year anyway.’

In 1987, South Korea was scheduled to be swept up in the democratization movement.

‘A direct presidential election. It will flow as history dictates.’

He had already planted the seeds in preparation for the direct presidential election.

“How is the United States?”

“It’s noisy over there because of the economic war.”

Director Geum Tae-joon nodded as if he knew well.

“You mean the Plaza Accord [an agreement to depreciate the U.S. dollar in relation to the Japanese yen and German Deutsche Mark].”

“The trade deficit with Japan has become too large, so they seem to want to reduce it.”

“Japan is doing too well these days.”

Director Geum Tae-joon had a envious expression.

There were no politicians or officials who didn’t envy Japan during this period.

That’s how well Japan was doing.

‘Perhaps it was the highest moment in Japanese history.’

A golden age that would never come again.

Jung Hyun-woo was living in that era.

“Your investment in Japan is becoming a hot topic here as well.”

“I’m planning to invest in Korea soon.”

Director Geum Tae-joon’s face brightened for a moment.

“In Korea too?”

“How can I hesitate to invest in my motherland?”

Director Geum Tae-joon praised Jung Hyun-woo’s patriotism to the fullest, but Jung Hyun-woo was only investing because it was profitable.

‘The Japanese economy will soon collapse.’

The collapse of the bubble economy.

Jung Hyun-woo was planning to shift his investment to Korea in line with that.