The Genius Grandson Of The Cash King Becomes A Tycoon [EN]: Chapter 103

#103

Hanho Group’s primary business was the defense industry.

The group’s origins lay in a company that manufactured gunpowder.

Building upon that foundation, they produced various types of weaponry, including missiles, radar systems, and tanks.

The cornerstone of this operation was Hanho Technology, South Korea’s leading defense contractor.

The defense industry was Han Pan-soo’s life’s work, built with his own effort and dedication.

‘Well, considering it accounts for over 20 percent of the group’s total assets, it wouldn’t have been easy to relinquish control willingly.’

Park Hyun-chul addressed Han Pan-soo with a determined expression.

“Let me be blunt. I need to kill Yoon Jung-hoon with my own hands.”

“Are you defying His Majesty’s orders? His Majesty has stated his intention to deal with him personally.”

“He wants to toy with Yoon Jung-hoon, but my motivations are different. I need to exact my revenge on that bastard. He’s taken everything from me. The only way I can reclaim what’s mine is by killing him.”

“What exactly did he take from you?”

Han Pan-soo inquired, but Park Hyun-chul remained silent.

‘Is he insane? What could he possibly have lost? He seems completely unhinged.’

He was a far cry from the Park Hyun-chul he once knew.

“I lack the power to do it myself. How am I supposed to kill him? I’m powerless, which is why you ended up with a split lip the other day.”

Han Pan-soo’s tone remained indifferent.

“I apologize again for what happened that day. However, I know you have influence over Chun Sung-han. You possess evidence of Chun Sung-han’s involvement in murders, don’t you?”

Han Pan-soo’s eyebrows shot up in surprise.

His voice trembled as he retorted sharply.

“Who’s spreading such preposterous rumors?”

“Look, do you have any idea how much information the prosecution has access to? We even know about what you did to the man who was sleeping with your wife.”

Han Pan-soo glared at Park Hyun-chul for exposing his vulnerabilities.

“You can use the evidence of Chun Sung-han committing murder within the Ministry of National Defense to control him, can’t you?”

“Murder? What are you implying?”

“Do you think I’m oblivious? I know you’re using that evidence to manipulate Chun Sung-han. Isn’t that why your company enjoys a monopoly on defense contracts?”

“Hmm, at this point, I’m starting to wonder if you’re a prosecutor or an operative from the National Intelligence Service (NIS).”

Han Pan-soo paused momentarily, scrutinizing Park Hyun-chul.

“Are you suggesting that I employ black ops agents?”

Instead of responding verbally, Park Hyun-chul offered a cautious nod.

“That’s a power reserved solely for His Majesty… What if this information reaches His Majesty’s ears?”

“That’s impossible. You and I are the only ones who know. And now, you’ll have leverage over me. Aren’t you pleased? Hehehe.”

Park Hyun-chul grinned sinisterly, his eyes gleaming with a crazed intensity.

His mind was solely fixated on achieving his objective.

“If you succeed, I won’t interfere with the defense affiliates.”

“Hmm, I’ll have to consider that. I’ve come to realize that money is the ultimate priority.”

“Then I’ll take that as an agreement. Please expedite the process as much as possible.”

In contrast to Park Hyun-chul’s anxious demeanor, Han Pan-soo appeared relaxed.

“Really? I’ll expedite things as much as I can, so don’t fret too much. You don’t look well, so go inside and get some rest.”

“Okay, thank you.”

Park Hyun-chul felt a sense of satisfaction, believing that his plan was unfolding according to his expectations.

Imagining Yoon Jung-hoon’s demise, a bitter smile crept across his face.

With Chun Sung-han’s influence, eliminating him would be a simple task.

By utilizing the black ops agents managed by the Ministry of National Defense, he could easily dispose of Yoon Jung-hoon.

After Park Hyun-chul departed, Han Pan-soo organized his thoughts.

He was concerned about Park Hyun-chul’s insomnia.

Therefore, he intended to delay the operation as long as possible.

If Park Hyun-chul were to collapse, he could acquire more shares in Cheonjihoe [Heavenly Justice Society, a powerful and influential organization].

He needed to exacerbate Park Hyun-chul’s anxiety even further.

He had to wait until he broke down.

That was in his best interest.

That was the most important principle that Cheonjihoe had instilled in him, and one that he had to uphold.

‘Occupy the void left by collapse. And repay it without fail.’

Han Pan-soo had not forgotten the humiliation he had endured at Park Hyun-chul’s hands that day.

He sensed that he would have an opportunity to reciprocate.

A satisfied smile spread across Han Pan-soo’s face.

***

Chun Sung-han, the current Minister of National Defense.

Prior to his retirement, he was slated to serve as an advisor for Hanho Technology.

He possessed a wealth of knowledge and connections that would greatly benefit the company.

A salary of 500 million won was allocated to him in recognition of his network and influence.

Han Pan-soo entered the Minister of National Defense’s office in Yongsan [district in Seoul, South Korea, known for being the location of the Ministry of National Defense and other important institutions].

A wave of hot air greeted him.

Chun Sung-han was engaged in exercise, lifting heavy dumbbells weighing 15 kg in each hand.

“Minister Chun, you’re in impressive shape.”

“Chairman Han. What brings you here unannounced?”

“What brings me here? I simply wanted to share a drink with you today.”

Chun Sung-han smiled at Han Pan-soo, who appeared to be in high spirits.

“Is there good news? You seemed rather downcast after your run-in with Park Hyun-chul last time.”

“I know. Park Hyun-chul made a compelling offer, so I’m in a much better mood.”

“What offer?”

Minister Chun Sung-han’s expression shifted upon hearing about Park Hyun-chul’s offer.

“That arrogant prosecutor is seeking favors from lowly individuals like us?”

Han Pan-soo nodded.

“He wants me to kill someone.”

“Who?”

“Yoon Jung-hoon!”

Chun Sung-han shook his head.

“He’s His Majesty’s plaything. No orders have been issued yet.”

“Park Hyun-chul wants to be the one to kill him.”

“What? Why all of a sudden? His Majesty will be furious if he finds out.”

“That’s advantageous for us. We can acquire leverage over him.”

Chun Sung-han nodded.

“What do you think? Is it feasible?”

Chun Sung-han shook his head.

“Can I disregard His Majesty’s directives?”

“I’m not suggesting that you disobey. Simply allow Park Hyun-chul to meet with him for a brief period.”

“Ahem, impossible.”

“Tsk, you’re so inflexible. Just do as I say. Arrange for him to meet Park Hyun-chul. Understood?”

“Is that an order?”

“How could I possibly order a sitting minister? It’s merely a request.”

“What if I refuse…?”

“I’ll hold a grudge against you as well. Then I might inadvertently disclose the information I possess about you to reporters, hehehe. Was it Cha Young-hoon? That’s his friend’s name.”

The glass cup in Chun Sung-han’s hand shattered with a crash.

“How long are you going to continue bringing that up?”

Chun Sung-han’s voice was subdued, yet filled with murderous intent.

“It won’t be for much longer. So don’t worry excessively. And I’ve secured a favorable position for you upon your retirement. You should grant me this one favor in return. I’ll be providing you with hundreds of millions of won annually.”

“Okay. Right now?”

“No. As late as possible.”

“Is there a reason?”

“Park Hyun-chul is wavering. We need to proceed after he’s completely collapsed. By then, he won’t be able to recover. Isn’t that beneficial for both of us?”

“You’re ruthless.”

“Not as ruthless as you. Didn’t you kill someone you treated like a son?”

Han Pan-soo’s eyes narrowed.

Chun Sung-han averted his gaze, appearing uncomfortable.

“I have to leave, so depart now.”

“Yes, Minister. Please be prepared to execute my orders immediately.”

Chun Sung-han nodded.

“This is the last time. If you use that to threaten me again, I’ll kill you too.”

“This is the last time.”
Han Pan-soo offered a bitter smile and exited the minister’s office.

As soon as he was gone, a curse erupted from Chun Sung-han’s chest.

The window trembled from the force of the sound.

***

Bad debts on credit cards were accumulating faster than anticipated.

Delinquency rates were also increasing at other credit card companies.

They were exceeding 7 percent and approaching 10 percent.

Even the AR card’s delinquency rate was surpassing 16 percent, up from 14 percent.

They needed to retrieve the cards issued to existing members, but it wasn’t a simple task.

There was a risk of creating a large number of credit delinquents.

The chaebols [large South Korean business conglomerates] with card companies were all secretly requesting debt relief and public funds from banks and the government.

However, AR Group provided payment guarantees.

People commended AR Group for fulfilling its corporate social responsibility, and Cheonjihoe praised it even more.

They didn’t leave AR Group alone after it eagerly took the bait.

When desirable prey appears, the beasts’ bloody feast commences.

Cheonjihoe utilized its college students, housewives, and homeless members to rapidly inflate the delinquency rate.

Consequently, the credit card delinquency rate rose further, approaching 20 percent.

They employed the media to create a liquidity crisis that extended beyond the card company to the entire group.

People who had previously applauded AR Group’s goodwill now criticized the liquidity crisis that had engulfed the entire group.

They ridiculed Chairman Gu Chang-hoon’s irresponsible goodwill, and the stock price plummeted.

AR Group was on the verge of negotiating with creditors to prevent the liquidity crisis from escalating further.

Lee Hee-do, president of AR Card, and Judge Jo Jae-wook met frequently to discuss how to acquire AR Group’s financial affiliates on an even larger scale.

***

In the AR Group chairman’s office, Chairman Gu Chang-hoon’s face was etched with deep wrinkles as he reviewed the data.

He appeared exhausted.

He sighed deeply and spoke.

“Hoo… Hyun-ji, let’s go to Euljiro [district in Seoul, South Korea, known for its old shops and restaurants] tonight.”

“The makgeolli [Korean rice wine] place?”

“Yeah, I need to unwind today.”

“Yes, Grandpa. You’ve been pushing yourself too hard these past few days. I’ll call ahead.”

“Okay.”

Chairman Gu went to a humble makgeolli establishment in Euljiro with only his granddaughter, Gu Hyun-ji.

He wanted to forget the group’s crisis and enjoy a relaxing time, if only for today.

The patrons in the old shop were all watching television.

The news was about Shinhwa Group, which had drastically implemented a five-day work week.

“Expectations and concerns are mixed regarding Shinhwa Group’s radical implementation of a five-day work week.”

The announcer’s words caught Chairman Gu’s attention.

“That Chairman Yoon is implementing a five-day work week?”

“Yes.”

“That’s something you should discuss with the other chaebols. Tsk tsk, does he simply want to have fun because he’s young? If everyone spends their weekends playing, the company will collapse. I’m worried, Hyun-ji.”

“Developed countries all have five-day work weeks. We need to adopt it quickly as well.”

“Really? The media is concerned that the company will go bankrupt.”

“Perhaps if they get adequate rest, they’ll work more diligently?”

“Maybe.”

He respected his granddaughter’s opinion, even though it differed from his own.

The 21st century was not his era, but his granddaughter’s era.

“I saw that guy once when he was just a little brat. You probably saw him too, even if you don’t remember.”

“Really?”

“Yeah, Madam Hyun admired me and often lent me money.”

“Really, Chairman?”

Gu Chang-hoon, startled, spilled his drink.

“What are you doing here? Chairman Yoon!”

Shinhwa Group Chairman Yoon Jung-hoon was standing next to Chairman Gu Chang-hoon.

“I came to see you because I have something to discuss. However, what you’re saying is quite different from what my grandmother told me. She said you kept coming to borrow money unnecessarily.”

“What nonsense! I frequented her place because she lent it to me at a low interest rate.”

Gu Chang-hoon retorted, his face flushed and his voice raised.

The atmosphere became tense due to his sudden outburst.

“Sit down, this is my granddaughter, Gu Hyun-ji.”

“Yoon Jung-hoon.”

Jung-hoon greeted her.

Gu Hyun-ji, the chairman’s granddaughter and the head of the Future Strategy Office, who enjoys the chairman’s utmost favor.

With her brilliant mind, she assists Gu Chang-hoon and is responsible for the group’s future strategy.

She currently wields considerable influence within the group.

She was such an exceptional talent that she would have undoubtedly been the successor if she had been a man.

“Hello. I’m Gu Hyun-ji.”

Her expression was reserved.

She wasn’t flamboyant like the daughters of other chaebols.

Her meticulous personality was evident in her neat and composed monochrome attire.

“Did you come to see me?”

“Yes.”

“How did you know I was here? Did you have me followed? If the secretary’s office informed you, I’ll demand a written apology from all of them tomorrow.”

“I happened to see you entering.”

Jung-hoon didn’t mention that his grandmother would be arriving shortly.

In fact, he had called to arrange a meeting with Chairman Gu Chang-hoon and his grandmother, but was informed that he had already left work.

So, on his way out, he came here at his grandmother’s suggestion to have a drink.

His grandmother was scheduled to arrive later.

He needed to conclude the conversation quickly.

“Chairman, how are the liquidity issues progressing?”

“Hmm, I came here to relax today, and even you’re bringing up that topic?”

Chairman Gu frowned, expressing his displeasure.

“Is it acceptable for the entire group to collapse simultaneously?”

Jung-hoon posed the question.

Chairman Gu raised his eyebrows at his words.

“AR has weathered countless crises over the decades. This type of crisis doesn’t even qualify as a crisis. We survived the oil shock in the 70s and the oppression of the military regime in the 80s…”

“Grandpa, just a moment.”

The granddaughter interrupted Gu Chang-hoon’s rambling, which could have continued for quite some time.

She possessed a stronger personality than he had anticipated.

“What’s the purpose of bringing up that topic?”

Gu Hyun-ji looked at Jung-hoon and inquired.

Jung-hoon paused briefly before speaking.

“Do you trust President Lee Hee-do?”

“Of course. He was the best in terms of skills and reputation from the time he joined AR until he became president. Why wouldn’t I trust him?”

“What if he’s a spy?”

“That’s impossible. Who would he be a spy for?”

“I believe you already have an idea.”

“That can’t be. If he’s a spy for Cheonjihoe, there must be a reason. He must have been threatened.”

Despite being the chairman of the group, Gu Chang-hoon was still somewhat naive.

‘Threatened? He’s still a romantic.’

“It’s money. And he was originally a Cheonjihoe scholarship recipient.”

“That’s absurd… I can’t believe it.”

“Perhaps President Lee Hee-do insisted on providing payment guarantees, citing the group’s social responsibility. However, these days, after the dot-com bubble burst, it’s difficult to secure funding. If a liquidity crisis arises, it’s bound to falter.”

“Ahem, you didn’t come here solely to inform me of that. Get to the main point now.”

“How do you intend to address the situation? The creditors won’t be lenient either.”

“Are you suggesting that you can provide assistance?”

“Yes. More precisely, it’s Korea Bank, which is managed by my grandmother. However, relinquish control of the financial group in return.”

Gu Chang-hoon’s lips trembled.

“How are you and the Cheonjihoe individuals any different?”

“I hope you can differentiate between taking and acquiring with money. And if you concentrate your investment on AR Chemical with the acquisition funds, you can fully compensate for this loss.”

At that moment, both Gu Chang-hoon and Gu Hyun-ji froze.

They glared at him with hostility, their eyes wide open.

“Do we have a spy within our company?”

“No. I simply possess a superior ability to predict economic and industrial trends compared to others.”

“That’s true, but…”

Gu Hyun-ji was also aware.

The rumors surrounding him were difficult to believe.

So she assumed they were exaggerated, but when he spoke so candidly in front of her, she was also taken aback.

The secret investigation conducted by the group.
The top-secret project to preempt the secondary battery market through chemicals.

They were postponing it due to the current precarious financial situation, but they needed to initiate it promptly.

If they truly liquidated the finance sector and focused on energy as he suggested, it would be the most advantageous course of action for AR Group.

“What’s your decision? Chairman?”

Gu Chang-hoon closed his eyes after hearing Jung-hoon’s words.

The moment of decision had arrived.

It was time for the most significant decision in decades.

Cash King’s Genius Grandson, Becoming a Chaebol