The Conglomerate Family Became A Villain [EN]: Chapter 224

224. End of Competition (2)

With Jung Min-seok’s funeral concluded, the Daewoon Group’s succession battle also came to an end.

The sole heir to the Daewoon Group was determined to be Jung Min-young, the vice president of Daewoon Corporation. Daewoon Group executives predicted that Jung Min-young would be promoted to president of Daewoon Corporation in the next regular personnel reshuffle.

“Min-young will eventually take over the company.”

The one exhaling cigarette smoke was Director Hong Won-ik. It was the first time in a long while that he had reached for a cigarette.

“Is it because of Min-seok?”

The one who asked him the question was Vice President Yang Jin-woo, a colleague from his early days at the company. Vice President Yang Jin-woo was currently working at Daewoon Precision.

“It’s not just Min-seok.”

Tuk. Tuk.

Director Hong Won-ik flicked off the cigarette ash.

“If it’s not just Min-seok’s matter, are you thinking about Min-hyuk’s case?”

Vice President Yang Jin-woo knew that Director Hong Won-ik felt guilty about the Jung Min-hyuk incident.

‘It seems he hasn’t completely shaken it off yet.’

Director Hong Won-ik answered his question.

“Min-hyuk’s case has been compounded by another.”

The added matter was the case of Jung Hyun-woo.

‘The reason Min-seok went to such extremes is because I neglected Hyun-woo.’

He should have paid a little more attention.

He couldn’t help but think this way.

“I don’t know what’s what, but isn’t it all in the past now?”

It was a suggestion to bury the story in his memory, to let it flow down the river.

“Yes, it’s already happened.”

Director Hong Won-ik sighed deeply.

“Now that the funeral is over, things will get busy again.”

The South Korean economy was developing day by day, thanks to the Three Lows boom [low interest rates, low oil prices, and a weak US dollar, which boosted South Korean exports].

The Daewoon Group also rode this boom and raced upwards.

“President of Daewoon Precision next year?”

Vice President Yang Jin-woo was a strong candidate for promotion to president.

“Come to think of it, you’ve been a director for several years now.”

“It’s thanks to getting ahead early.”

He could have stepped down as the head of an affiliate, but Director Hong Won-ik was still active.

“How is the Chairman doing?”

“He’s working even longer hours than usual.”

“Trying to forget his son’s death.”

Obsessively working to forget the sadness seemed to be a characteristic of CEOs.

“If the Chairman doesn’t leave work, you can’t leave either, can you?”

“The Chief of Staff can’t leave work earlier than the Chairman.”

“What about home?”

The 1980s was a time when the so-called midlife crisis was slowly beginning to surface.

“It’s okay.”

“Is it really okay?”

“I do go home early sometimes.”

Chairman Jung Woo-sun only left work early when there were meetings at the Blue House [the presidential residence] or the Federation of Korean Industries.

“Take care of your family. There have been a few news stories recently.”

Recently, daily newspapers had been publishing articles about divorces of fathers who had neglected their families.

“Aren’t you more of a problem than I am?”

“Me?”

“You’re often out on business.”

Director Hong Won-ik meant that he at least traveled within Seoul.

“You.”

“Why? Do you feel guilty?”

Vice President Yang Jin-woo put out his cigarette and said.

“Both you and I are too caught up in the company.”

“Isn’t that our fate?”

Director Hong Won-ik thought that he had climbed too high on the tree of success to come down.

‘You can’t have family, happiness, and success all at once.’

Trying to have everything is human greed.

If you gain one thing, you inevitably lose another.

“I don’t like the word ‘fate.’ It’s a cowardly excuse.”

“Even if it’s a cowardly excuse, it seems like that’s all I can say.”

As he turned, he saw Daewoon Corporation people entering the funeral hall.

“It seems like we should go in too.”

Vice President Yang Jin-woo’s gaze was also directed towards the Daewoon Corporation people.

“Daewoon Corporation, then…”

“Min-young’s subordinates.”

“Hmm, the future power players, you mean.”

The two could feel that their time was running out.

* * *

Jung Hyun-woo left for Japan as soon as Jung Min-seok’s funeral ended. The reason he had come to Korea in the first place was to deliver slush funds to Japan.

‘Hoo… I’m very late.’

In the seat to his right sat Team Leader Kim Hak-soo of the National Security Planning Agency [the South Korean intelligence agency, now known as the National Intelligence Service].

“We’ll be arriving soon.”

The flight time between Seoul and Tokyo was only slightly longer than going from Boston to Washington.

“Thank you for your hard work.”

“It’s nothing. It’s an honor to be able to help Chairman Jung.”

The two were sitting in first class.

‘To think my first time in first class would be on a trip to Japan.’

Jung Hyun-woo enjoyed business class, but this was his first time in first class.

“Would you like a drink?”

At the flight attendant’s question, Jung Hyun-woo raised his right hand.

“No, thank you.”

It was a short flight, so he wasn’t particularly thirsty.

‘Besides, I already drank more than enough in the lounge.’

As he took a deep breath, Kim Hak-soo said.

“There won’t be any problems passing through customs in Japan either.”

What Jung Hyun-woo was worried about wasn’t the passage of the slush funds.

‘It ended too anticlimactically.’

In a situation where he was about to make a move to decide the victory, the opponent had gotten up from his seat.

“I’m trusting you, Team Leader Kim.”

Kim Hak-soo nodded silently at Jung Hyun-woo’s words.

Three hours later.

Jung Hyun-woo met Yuu Tanaka, the Japanese branch manager of Victoria Fund, in downtown Tokyo.

“It’s all in cash.”

Yuu Tanaka accepted the slush funds he handed over and bowed his head.

“Thank you for your hard work, Representative.”

Jung Hyun-woo gave a dry smile and said.

“The hard work wasn’t done by me, but by Team Leader Kim.”

Kim Hak-soo had followed him to the final site and delivered the dollars.

“Thank you for your hard work.”

Kim Hak-soo bowed his head without knowing the other person’s identity.

“I was just doing what I had to do.”

As he was about to step back, Jung Hyun-woo opened the briefcase, commonly referred to as a 007 bag. Then, he took out two bundles of hundred-dollar bills from inside and put them in Kim Hak-soo’s pockets.

“One is for Team Leader Kim, and the other is for the team members.”

“Mr., Chairman Jung.”

As Kim Hak-soo was startled, Jung Hyun-woo said.

“The agents risk their lives to work. Can they really get by with just what the country gives them?”

Risking their lives to work.

This wasn’t wrong.

At his words, Kim Hak-soo lowered his hand.

‘I can’t just end it by buying my friends who risk their lives some pork belly behind the office building.’

He said with force in his voice.

“I will make sure it helps the team members as much as possible.”

Jung Hyun-woo nodded and extended his right hand.

“Team Leader Kim, thank you for your hard work.”

Kim Hak-soo realized that this was a real farewell. He took Jung Hyun-woo’s hand and said.

“I hope we can meet again next time.”

“If there’s a connection, we’ll be able to meet again.”

This one word wasn’t just empty talk.

If there really was a connection, if Kim Hak-soo survived the fierce power struggles, then the two would meet again.

After he left, Yuu Tanaka asked Jung Hyun-woo.

“Who is he?”

Jung Hyun-woo answered his question.

“He’s someone whose name you shouldn’t know.”

Yuu Tanaka paused at his answer.

“Someone whose name I shouldn’t know?”

“It’s still the Cold War. It’s not good to know too much.”

Yuu Tanaka could guess to some extent at Jung Hyun-woo’s words.

‘A spy, you mean.’

However, he couldn’t guess which agency Kim Hak-soo was a spy for.

“More importantly, let’s talk about business.”

Yuu Tanaka sat down and responded to Jung Hyun-woo’s words.

“The investment is proceeding smoothly. In terms of investment, more than 40% of the real estate contracts have been completed, and the prices of all the places we’ve already invested in are rising sharply.”

Jung Hyun-woo frowned at the words that prices were rising sharply.

“That’s not good.”

The fact that prices were rising sharply meant that Victoria Fund was making a large profit.

But Jung Hyun-woo was saying it wasn’t good.

“Not just sharply, but are they supposed to be rising very sharply?”

Yuu Tanaka wondered if Victoria Fund’s expectations weren’t meeting Jung Hyun-woo’s expectations.

But that wasn’t the case. Victoria Fund’s investment in Japan was far exceeding Jung Hyun-woo’s expectations.

“If prices are rising sharply, wouldn’t our investment be fueling a real estate boom?”

“It’s true that this side’s investment has added strength to the upward trend, but…”

Japanese real estate was already rising even without Victoria Fund’s investment.

He was about to say this.

But Jung Hyun-woo cut him off and raised his voice.

“Mr. Tanaka, investment can turn into speculation in an instant.”

Only then did Yuu Tanaka realize what Jung Hyun-woo was worried about.

“You mean the government could make us scapegoats.”

He meant that the Japanese government could designate Victoria Fund as the culprit of speculation and impose sanctions.

“It would be best to only invest up to 60% in real estate.”

Yuu Tanaka frowned and asked.

“Then Kajima Construction won’t just stand by.”

Jung Hyun-woo put his hands together and said.

“Tell them to solve the problem I mentioned then.”

He meant to lobby or do whatever it took to prevent Victoria Fund from being branded as a speculator.

“Hmm, I understand.”

Yuu Tanaka also knew that if they were branded as a speculative force right now, everything would be over.

‘Charlie Jung is right. If we’re branded as a speculative force, not only will our investments to date be at risk, but also the loans we’ve received from the bank.’

As soon as the lobbying funds came in, he called Kajima Construction.

* * *

Jung Hyun-woo and Kajima Group Chairman Kajima Jiro’s meeting took place the day after he entered Japan.

The place where the two met was not in downtown Japan, but in a high-end Japanese restaurant located on the outskirts of Japan.

Women who modernized the image of geishas greeted guests wearing kimonos.

“Please come inside.”

Jung Hyun-woo was guided deep inside by a woman with a soft voice.

‘Hmm, it’s like Kinkaku-ji [Golden Pavilion] or Ginkaku-ji [Silver Pavilion].’

The place he arrived at after passing through a well-decorated garden was a small pavilion.

Chairman Kajima Jiro was waiting for Jung Hyun-woo here.

“Welcome.”

Jung Hyun-woo turned his head after seeing that there was only one set of chopsticks and a sake cup placed inside the pavilion.

“It seems like he wants to talk alone.”

His secretary, Luna, and the other escorts stepped back.

“Then we’ll wait outside.”

As they stepped back, the restaurant staff came out and guided the escorts to the opposite side of the garden.

The place where they would rest was a place where they could see Jung Hyun-woo and Chairman Kajima Jiro from afar.

Luna sat down and thought.

‘I heard that the Japanese are meticulous in their work, and it’s really amazing. They guide you to a place where you can see the representative, but you can’t hear the representative’s voice.’

While the escorts were settling in, Jung Hyun-woo greeted Chairman Kajima Jiro and sat across from him.

“This side also knows about Chairman Jung’s concerns.”

Chairman Kajima Jiro had already heard the story related to real estate speculation from President Mori of Kajima Construction.

Jung Hyun-woo said to Chairman Kajima Jiro.

“I don’t think this is an issue that can be taken lightly.”

Chairman Kajima Jiro nodded and responded to his words.

“I know. But if Victoria Fund stops investing here, all the projects we’ve prepared will result in losses.”

The Kajima Group and Kajima Construction were trying to push forward with Japanese development projects.

Of course, Jung Hyun-woo thought it would be better to stop here.

“This side can repay your losses with money. But if the Japanese government moves, there’s nothing we can do about the problems after that.”

Chairman Kajima Jiro clenched his fist and said.

“The Kajima family will do everything in its power to prevent problems from arising.”

“Can you even stop the media?”

Japan was not a dictatorship.

It was also not a country like Korea where the government could control the media.

“If I can’t stop them, I will commit seppuku [ritual suicide by disembowelment].”

Jung Hyun-woo clicked his tongue inwardly.

‘Tsk, typical of the country of seppuku.’

He said in a cold voice.

“What I want is success, not Chairman Kajima’s life.”

Chairman Kajima Jiro forced a smile and responded to his words.

“I mean that I will stop the media with firm resolve.”

Jung Hyun-woo sighed briefly and proposed to him.

“Wouldn’t it be okay to only invest up to 60% and end the rest with compensation for damages?”

It was a story that Chairman Kajima Jiro had nothing to lose from. If that happened, he could maintain net profit, but sales would inevitably be lower than expected.

Nevertheless, Chairman Kajima Jiro couldn’t help but ask the reason.

“Um, may I ask why you’re going this far?”

Jung Hyun-woo answered Chairman Kajima Jiro’s question.

“Because Japanese real estate will rise even further.”

“This side also thinks there’s room for about 20% more to rise, but…”

Jung Hyun-woo said coldly.

“It will rise by up to 200%.”

Chairman Kajima Jiro raised his eyebrows.

“It will rise by 200% more?”

It was an unbelievable story.

“Not all places will rise by 200%. But the land prices in central Tokyo, such as Ginza, will be heading towards 100 million yen per tsubo [a traditional Japanese unit of area, approximately 3.3 square meters].”

100 million yen.

Even in the 2020s, 100 million yen was a lot of money.

Even calculated at the lowest exchange rate, it was 850 million won, and assuming a high exchange rate, it was as much as 1.1 billion won.

Chairman Kajima Jiro couldn’t believe that so much value would be placed on one tsubo of land.

“Chairman Jung, that’s a bit of an unrealistic assumption.”

100 million yen in the 1980s was worth almost 10 times more compared to the 2020s.

To put it a bit exaggeratedly, 100 million yen was enough money to build a small building.

‘Are you saying that you can only buy 1 tsubo of Ginza land with that much money?’

Jung Hyun-woo said in a low but clear voice.

“The bubble will start now.”

The bubble will start.

Chairman Kajima Jiro raised his eyebrows at his words.

“If the bubble starts… what has it been until now?”

Jung Hyun-woo raised his voice at his question.

“What if it’s a trailer?”

The bubble so far is just a trailer.

Chairman Kajima Jiro put both hands on his knees.

“That’s a dangerous statement.”

If the bubble grew as Jung Hyun-woo said, it wouldn’t be good for the Japanese economy.

‘The Japanese government will try to burst the bubble somehow.’

The best thing would be to make the bubble shrink slowly, but such a magical thing was impossible.

“Would you believe it if it was the analysis of Wall Street scholars?”

Not an individual’s imagination, but Wall Street’s analysis.

To the war generation like Chairman Kajima Jiro, the United States was like a giant wall.

He groaned and hesitated to speak.

“Um, if it’s Wall Street’s analysis…”

Jung Hyun-woo said as if receiving his words.

“We have no choice but to believe it.”

Chairman Kajima Jiro sighed deeply.

“Hoo… It’s a story I don’t want to believe.”

“The bubble has started, and we can’t avoid it.”

“Even if I inform the government…”

“It won’t work.”

Chairman Kajima Jiro removed his hands from his knees and said.

“Okay. If the Japanese real estate market rises 20% more than it is now, I will stop investing.”

He meant that he would decide on the progress or retreat of the business by looking at the rise in Japanese real estate prices.

Jung Hyun-woo nodded and responded to his words.

“I understand. Then I will only compensate 50% of the damage amount.”

Chairman Kajima Jiro paused at the change in Jung Hyun-woo’s proposal.

“Are you cutting 50% because this side is going further?”

“Shouldn’t we share the risk of going further from here?”

At Jung Hyun-woo’s question, Chairman Kajima Jiro laughed heartily.

“Okay. Let’s do that.”

The reason he accepted Jung Hyun-woo’s proposal was because he thought that Japanese real estate prices would not rise as much as Jung Hyun-woo said.

‘Sometimes, I’ll show you that Wall Street scholars are wrong too.’

Chairman Kajima Jiro was confident.