The Genius Grandson Of The Cash King Becomes A Tycoon [EN]: Chapter 102

#102

After the meeting, AR Card CEO Lee Hee-do sat down, his expression stiff.

They had recorded their worst performance just as they’d climbed to the top of the industry.

A massive deficit was predicted.

No one had anticipated that the delinquency rate would soar so high.

Chairman Gu Chang-hoon encouraged Lee Hee-do, who wore a stern face.

It was AR Group’s culture to encourage and praise rather than reprimand.

“Hey, CEO Lee.”

“Yes, Chairman.”

CEO Lee Hee-do stood and answered upon hearing his name called.

“Cheer up! Don’t worry too much. It’s not like this is the first time this has happened. We just need to weather this crisis.”

“I will do my best, Chairman.”

“Everyone, you may leave now.”

CEO Lee Hee-do closed the door as he was the last to leave.

Gu Hyun-ji, who was guarding Gu Chang-hoon’s side, still harbored suspicion regarding the closed door.

Chairman Gu rose from his seat and looked out the window.

Getting here was much more difficult and challenging for him than for others.

He hadn’t colluded with the regime to offer slush funds or bribe politicians.

Unlike other conglomerates, AR Group had walked the right path.

They received praise from the public, but they had to endure difficult times.

Chairman Gu Chang-hoon could feel the weight of the previous chairmen’s decisions.

“How do you think things will proceed from here?”

“In the worst-case scenario, if AR Card’s delinquency rate rises to 25 percent, the group may face a liquidity crisis, Chairman,” Gu Hyun-ji, who was by his side, carefully stated.

Gu Chang-hoon’s face hardened.

“If it’s your calculation, it won’t be wrong. How did the delinquency rate rise so much?”

“They focused only on recruiting subscribers and indiscriminately issued cards that shouldn’t have been issued. Most of the delinquent payers now are college students, housewives, and unemployed people who can’t typically get credit cards.”

“Lee Hee-do turned a blind eye to it?”

“Yes.”

“It must be because of personal greed?”

“If that’s the case, it’s a relief. It would be a disaster if it was intentional.”

“Intentional… Are those guys involved?”

“I’m investigating now, but I don’t think anything will come of it even if I investigate, Grandpa.”

Gu Chang-hoon slumped down on the sofa.

“Still, I feel relieved that you’re here, Hyun-ji.”

He looked at his granddaughter, who was by his side.

Hyun-ji Gu, head of the Future Strategy Office.

A beauty with a genius brain that wouldn’t be outdone anywhere.

If she were a man, she would be the right person to lead the group.

Well, it’s an era where women can do it too…

“By the way, why do you keep postponing your matchmaking meeting [a formal meeting arranged for the purpose of finding a marriage partner]?”

“Grandpa, I’m only 24 years old. I should get married after I’m over 50.”

“What? What are you going to do until then?”

“I have to work at the company by Grandpa’s side.”

“Is that so? Work hard. Nothing is decided yet.”

Hyun-ji’s eyes flashed for a moment when she heard those words.

“Tsk, it doesn’t matter who becomes the owner. I just want to see our AR Group expand to the world.”

“Does that mean you have to be the owner?”

“No. I really don’t care who it is.”

“It doesn’t seem like there’s anyone else who can do it besides you.”

Gu Chang-hoon smiled contentedly.

“Grandpa, let’s go have dinner. Would you like to have a glass of makgeolli [Korean rice wine] for the first time in a while?”

“Okay. Then shall we go to that place in Euljiro [a district in Seoul known for its traditional restaurants]? It’s been a while since I’ve been there.”

“Yes, then I’ll prepare it there.”

***

Lee Hee-do, CEO of AR Card, walked down a hallway filled with loud music and flashing strobe lights.

He opened the door to the room at the very end.

“Senior!”

Judge Jo Jae-wook stood and greeted him.

“Am I a little late?”

“No. I came out in advance. It’s been a while since I’ve seen you, Senior, so I had to come out in advance.”

Lee Hee-do looked at Jo Jae-wook, who was courteous, with a satisfied smile.

“What happened to the previous Daehan Bank?”

“Han Pan-soo ruined it.”

“Is that so? Chairman Han must have been greedy. How did you properly deal with him?”

“Yes. His Majesty adjusted it. We decided to take over the construction, distribution, and defense affiliates.”

“Half of the group flew away. Tsk, you stupid bastard.”

“He was wearing clothes that didn’t suit him [idiom meaning he was trying to do something he wasn’t capable of].”

Lee Hee-do nodded.

“Then shall we talk about business?”

“Yes.”

“Fortunately, AR Group decided to provide payment guarantee. If we do well, we might be able to eat something big [idiom meaning to gain a significant advantage].”

A smile spread across Lee Hee-do’s face.

“It’s AR Group after all. They’re doing stupid things properly.”

“That’s right. Next month, the delinquency rate will exceed 20 percent. At least 1 trillion won [approximately $750 million USD] will have to be invested to put out the urgent fire. The company’s financial situation is not good either. If we pour more in there, it will definitely falter greatly.”

Jo Jae-wook filled his glass with alcohol.

“If we get our hands on other companies, we might be able to eat a few affiliates, not just one card company.”

“Of course.”

Lee Hee-do’s eyes were full of greed.

He looked at Jo Jae-wook’s mouth and anticipated the rice cake crumbs that would fall to him [expecting to receive benefits or rewards].

“If other companies come into our hands, I think you should take one, Senior.”

“Hahaha, you’re the only one who takes care of a pathetic senior like me.”

“No, Senior. Then please enjoy your time. I’ll be back in a moment.”

Jo Jae-wook left the room and entered the room across the street.

“Ha, he’s acting like a senior.”

Jo Jae-wook, who entered the room, sat down with a sneer.

In front of him was Park Hyun-cheol, who had glazed eyes.

“Hey, get a hold of yourself!”

“Oh, you’re here?”

Park Hyun-cheol’s eyes showed no focus or the greed that was always full of him.

“Park, get a hold of yourself. Are you going to retire? You have to go higher with the president and ministers.”

“I have to go, I have to go higher.”

Park Hyun-cheol’s voice had no strength.

“Why? Is it because of Da-hye? Is it because of Yoon Jung-hoon?”

“It’s okay, I just want to get drunk today. I’ll be fine tomorrow.”

Park Hyun-cheol filled his glass with alcohol.

“Yeah, drink. Drink and forget.”

He felt pity and sympathy for Park Hyun-cheol.

And he sensed that a new opportunity might come to him.

Park Hyun-cheol kept thinking about Da-hye’s words.

‘Since that day.’

That very day that he himself could not forget. It was when his existence was completely denied.

He learned that his father was the head of the Cheonji Association.

The justice he had believed in was shattered.

His dream of becoming a righteous prosecutor was changed to the head of the Cheonji Association.

That day, he made a choice without regret.

He went into his father’s arms and lived for the Cheonji Association.

He didn’t regret it.

He believed that his actions were the right choice for the country and the people.

All his actions were sacrifices for his family and Da-hye.

But……

He couldn’t forget Da-hye’s last look.

‘Where did it go wrong?’

Was his choice to choose the Cheonji Association that day wrong?

Absolutely not.

There was nothing wrong until Yoon Jung-hoon appeared.

Everything is because of that bastard Yoon Jung-hoon.

If it weren’t for that bastard, Da-hye would have been able to live in harmony without knowing anything.

“Hey, Park Hyun-cheol, what are you going to do now?”

“I have to kill him.”

“What are you talking about?”

“I have to kill that bastard Yoon Jung-hoon. That’s the only way everything will go back to where it was!”

Jo Jae-wook, who heard Park Hyun-cheol’s words, said.

“Whether you kill or save Yoon Jung-hoon is up to you, but you have to throw something at Lee Hee-do to shut him up. What should I throw?”

“Give him anything. You take care of it. I have to get up now.”

Park Hyun-cheol, who answered in a weak voice, staggered and stood.

“See you next time.”

Jo Jae-wook stared at Park Hyun-cheol’s back as he closed the door and disappeared for a while.

His lonely back, his friend and rival, had weakened.

Jo Jae-wook’s face was filled with a bitter smile, and hyena-like greed filled his heart.

***

Jung-hoon was watching AR Card.

Overall, the delinquency rate of card companies was slightly increasing.

However, AR Card was rising more rapidly than other card companies.

What the previous government did to expand consumption was becoming a ticking time bomb in this government.

A drastic measure to solve the economic recession caused by the IMF [International Monetary Fund] economic crisis and the dot-com bubble burst through consumption.

The card issuance standards were relaxed.

As a result, credit cards were issued to people who were not eligible.

Like the saying that you can even eat your in-law’s cow on credit [meaning to spend recklessly], credit cards pay the bill a month later.

Unplanned consumption surged, and card payments began to be repaid.

And now it has reached its limit.

The card delinquency rate was slowly rising.

“Chairman, but how did you predict it?”

Hwang Seok looked at Jung-hoon with a curious expression.

No one had yet predicted the failure of card companies.

As the use of credit cards was encouraged, the performance of card companies was rapidly increasing.

The stock price was also good.

As far as he knew, no one expected the bomb to explode.

“Just because.”

A short sigh escaped Hwang Seok’s mouth at those words.

He felt the difference between Jung-hoon and himself.

The seemingly indifferent word meant a lot.

He was a genius who didn’t analyze and infer, but just knew it all at once.

“The delinquency rate is 14 percent now, but how high do you think it will get in the future?”

“I don’t think it will get any higher than this.”

“If AR Group provides payment guarantee, it will be higher. Please keep checking AR Card’s delinquency rate and AR Group’s cash flow.”

“Yes, Chairman.”

Hwang Seok had an incredulous expression.

But as long as the Cheonji Association is involved, it will be as Jung-hoon thinks.

History has not changed yet.

‘A good opportunity has arisen. AR Group sells all financial companies, starting with the failure of the card company. If Grandma’s Future Financial Group acquires it…….’

In an instant, it could grow to a scale comparable to the financial companies of the Star Group.

‘Not a bad attractive company.’

The only thing that bothered him was that AR Group had a good reputation externally.

But he soon changed his mind.

AR Group itself was in a situation where it could be shaken if he didn’t step in.

It is best for AR Group to settle with one card company.

Jung-hoon, who had organized his thoughts, prepared to leave work.

He had to leave work early so that other people could leave work too.

It was the same here to be aware of the boss’s mood.

When he left the room, Cha Young-mi shouted loudly at Jung-hoon.

“Chairman! Are we really working 5 days a week?”

Cha Young-mi asked a sudden question.

“What are you talking about?”

“Here, it’s a mess on the internet right now. They say Shinhwa Group is the first to implement a 5-day work week.”

“Who’s saying that all of a sudden?”

“We took a day off last Saturday. I think the media has exaggerated it.”

‘That’s ridiculous.’

Due to the prosecution’s large-scale search and seizure last week, all employees of the group were dismissed on Friday and took a day off on Saturday.

The fact that they rested on Saturday and Sunday caused misunderstandings among reporters.

Maybe someone did it on purpose.

There are plenty of people who think that working less will lead to ruin.

The Cheonji Association may be intentionally creating public opinion.

The 5-day work week will be implemented from July 1, 2004…….

‘Should I just do it from next week?’

Jung-hoon looked at the people looking at him.

Their faces were full of expectations.

How much will they work if they come out on Saturday morning and go to work?

The time spent on commuting was not insignificant.

Sufficient rest increases productivity.

Jung-hoon didn’t think long.

‘Since we’re going to do it anyway, let’s do it in advance. Let’s be the first in Korea to do it.’

“Yes. Starting this week, our Shinhwa Empire Group will implement a 5-day work week.”

“Kyaak.”

Cha Young-mi screamed and rejoiced.

Chun Jin-hyuk also smiled.

He smiled quite naturally.

“Announce it to the entire group. 5-day work week starts this week!”

At the same time as the news, Shinhwa Group took first place in real-time search terms.

It was full of envious jealousy and concerns about productivity from office workers.

‘Shinhwa Group will go bankrupt, or rather, go bankrupt.’

‘If you play for two days on the weekend, there will be no company.’

‘From this week? Ha, I have a stomach ache…….’

‘Shinhwa Group, this is cheating.’

But soon, praise and praise for Shinhwa Group Yoon Jung-hoon covered the worries.

‘Chairman, I love you.’

‘We’ll show you with performance.’

‘I will play hard and work hard.’

It was the fall of 2003, when worries and expectations about 5 days a week crossed.

***

“What’s going on? Without even contacting me.”

Han Pan-soo was uncomfortable with Park Hyun-cheol, who had come to see him.

The humiliation from last time came to mind again.

“Do I have to contact you to see you?”

Park Hyun-cheol’s eyes were filled with murderous intent, close to madness.

“Ahem, it’s not that, but…….”

Han Pan-soo mumbled and sat next to him.

He was upset because of Park Hyun-cheol, who had taken the seat of honor, but he didn’t show it.

Park Hyun-cheol and he were of different status.

The illusion that they were of the same status was no longer present.

He wanted to keep his distance.

“I have a favor to ask.”

“Tell me.”

Han Pan-soo replied in a business-like voice.

“Do you still want to be the head of the Cheonji Association?”

“Well, do you think you guys will respect me if I, a lowly person, become the head?”

“Is that important? Your will is important.”

“The head of the Cheonji Association, it’s still an attractive position that I’m greedy for. If I get to that position, I can grow the company several times.”

“You haven’t given up yet?”

Park Hyun-cheol perked up his ears and looked at Han Pan-soo.

“No, it’s faded. I thought I could be above you guys if I got to that position. Did you think I wouldn’t know that you guys were sneering behind my back? Your noble spirit of tearing me down as a lowly merchant is really amazing. Thanks to my money, you enjoy all kinds of pleasure, entertainment, and luxury.”

“……. I apologize for that.”

“What apology? There’s no need for a nobleman to apologize to a lowly commoner?”

“Stop it now. Shouldn’t we discuss the future?”

“What future? I realized it clearly that day. I completely realized that it was impossible. Once I knew that, it wasn’t fun. There’s no reason to lead the Cheonji Association.”

“What’s impossible?”

“I’m a commoner and you guys are noblemen. It’s impossible unless you change your blood!”

Park Hyun-cheol was disappointed.

He has to move him to kill Yoon Jung-hoon.

He has definite power.

“Are you saying you won’t do it? Then I can’t help it either. I have no choice but to push Jo Jae-wook.”

“Judge Jo Jae-wook? Judge Jo Jae-wook, who should be righteous, but can’t get enough of women. He’d be a good fit as the head of the Cheonji Association.”

“If that’s your will, I can’t help it. Then hand over the defense affiliate as planned.”

Han Pan-soo’s eyes shook greatly for a brief moment.

Park Hyun-cheol finally found something to put on the negotiating table.

The Genius Grandson of the Cash King Becomes a Chaebol.