The Genius Grandson Of The Cash King Becomes A Tycoon [EN]: Chapter 74

#074

Song Cheol-ho overheard Song Ji-ho’s booming voice from outside the chairman’s office.

“Tsk, tsk, what a sanctimonious jerk.”

Song Cheol-ho clicked his tongue and shook his head.

Even though Ji-ho was his own son, he felt a strong dislike for him.

He resented Ji-ho’s exceptional abilities, and his questionable behavior was also unsettling.

Ji-ho was nothing like his youngest son, Min-ho, who could do no wrong in his eyes.

Well, Min-ho *had* been cute, until he started eyeing Cheol-ho’s position.

But his second son’s insatiable greed led to his downfall.

“Come in.”

The large door of the chairman’s office swung open, and Song Ji-ho entered.

“Sit down.”

“Yes, Chairman.”

“How is Yun-ho doing?”

“He’s receiving excellent care at the treatment and rehabilitation center. I visit him every week to check on his progress.”

“Really? That’s a relief. Yun-ho knows he’s your brother, right?”

“Of course. Wasn’t he always soaking up all the brotherly love with his cute little acts?”

Song Cheol-ho scrutinized his son’s mouth.

He could practically see the forked tongue of a black snake flicking inside.

“Yes, he was very talented. Take good care of him. They say it’s not a severe addiction, so he’ll be out soon.”

“Yes, Chairman. Please don’t worry too much.”

“What should we do about the Myeongdong business that Yun-ho was managing?”

“We can’t abandon the private loan market entirely. But shouldn’t we be moving to Gangnam now? Gangnam is the new heart of Seoul.”

His son’s words made sense.

Everything *was* shifting to Gangnam.

“Gangnam, huh….”

“We’re already putting down roots there. We need to take control before anyone else does.”

“That’s right.”

“We’ll pull out of Myeongdong and concentrate on Gangnam.”

“Alright, proceed with that as you see fit.”

Song Cheol-ho rose from his seat and picked up a document from his desk.

He placed it on the table.

“Read this.”

The documents detailed the acquisition prices of Sunjae Heavy Industries, Sunjae General Machinery, and several defense companies currently under court receivership [a form of bankruptcy protection].

“Are you considering acquiring defense companies?”

“It seems like we might need them in the future.”

“Father?”

The form of address shifted in Song Ji-ho’s tone.

Song Cheol-ho nodded, and his son’s eyes widened with alarm.

“It’s already 2002. Too many eyes are on Korea. If we try to stage a coup, even the United States won’t support us.”

“Hey, what are you talking about, a coup!”

Song Cheol-ho snapped.

“I’m just trying to have them as a backup. Frankly, even *this* makes me uneasy. Back in the day, we’d just take what we wanted… Remember how International Group was snatched away by the military after we showed interest?”

“Y-yes, that’s right.”

Song Ji-ho remembered it well.

The group, once ranked among the top 10 businesses in the 80s, had vanished overnight.

Rumor had it that the military made an example of them for disloyalty to the regime.

But behind the scenes, it was the work of Cheonji Association [likely a powerful, shadowy organization].

“Chairman, this is the 21st century, the age of globalization. We can grow much bigger by making money from all over the world.”

Song Cheol-ho’s expression hardened.

He leaned back on the sofa, straightening his posture.

He raised his hand and slapped Song Ji-ho across the cheek with brutal force.

Song Ji-ho’s glasses clattered to the floor.

“Tsk, tsk, you’re just a money-grubber. We need to have *power*.”

“…….”

Song Ji-ho didn’t dare respond.

He recalled Chairman Dan Tae-soo, kneeling outside the chairman’s office just a short while ago.

Dan Tae-soo was the chairman of a conglomerate ranked 9th in the business world.

He outranked Chairman Song Cheol-ho.

But Ji-ho also knew that Chairman Song Cheol-ho wielded considerable hidden power.

Dan Tae-soo, usually cautious like other conglomerate chairmen, had made a mistake that day while drunk.

“Money is everything,” he’d boasted. “With enough money, I could have the prosecution, the police, and the National Tax Service dancing in the palm of my hand.”

He’d even laughed at Chairman Song Cheol-ho, who was lower in the rankings, while slurring his words.

That day was probably the peak of Chairman Dan Tae-soo’s life.

The very next day, prosecutors from the National Tax Service and the Supreme Prosecutors’ Office raided the group’s headquarters.

Someone had advised him, dumbfounded, “It seems you made quite a few missteps at the drinking party yesterday.”

Only then did he remember, and he knelt in front of the Il Song Group chairman’s office until the early hours of the morning.

On the day he was barely forgiven, all criminal charges were dropped.

Song Ji-ho also coveted his father’s power.

But he wanted to use that power to amass even greater wealth.

Not to be a hidden king pulling the strings of Korea.

He wanted to become a capitalist who conquered the world.

If he could seize his father’s power, it would be more than possible.

But his father always prioritized power over money.

“Ji-ho!”

Song Ji-ho, jolted from his thoughts as he rubbed his stinging cheek, snapped to attention.

“Yes, Chairman.”

“We *must* acquire these companies.”

“I understand. I will do my best.”

Not the financial industry, but manufacturing.

It didn’t spark Song Ji-ho’s interest.

But to inherit his father’s power, he had to play along.

“You’re dismissed.”

“Yes.”

After Song Ji-ho left, Han Hyun-dong entered.

“How is Yun-ho’s treatment progressing? Is Ji-ho taking good care of him?”

“Yes, he visits once a week to ensure he’s receiving proper treatment. He should be released from the rehabilitation center soon.”

“Hmm, keep a close eye on him. Don’t trust him; he’s like a snake.”

“Yes, Chairman.”

Han Hyun-dong bowed to Chairman Song and left the chairman’s office.

He headed straight for the planning and coordination director’s office of Il Song Group.

“Young Master, you checked on the youngest young master’s condition again.”

“As expected, he’s a suspicious character.”

“Don’t worry too much. I’ll keep him in check on my end.”

“Yes, please do. The chief of staff is our chairman’s eyes and ears.”

“I will do my best.”

“Move all the guys in Myeongdong to Gangnam. And do we really have to acquire Sunjae Heavy Industries? What do you think, Chief?”

“The chairman’s mind is made up, so we’ll have to try.”

“Really? It’s an unnecessarily large company. I’m worried we might get bogged down.”

“That won’t happen.”

“Still, I already have a headache just thinking about the labor union and everything else. We should be focusing on financial investments.”

He massaged his temples and frowned.

“Young Master is right. The future lies not in manufacturing, but in finance.”

“Hoo, you truly understand the trends. Now, go and do your work.”

“Then I’ll report back later.”

Han Hyun-dong bowed to Chairman Song and left the room.

As he exited, Han Hyun-dong gazed out the window.

*To live a long life, you have to adapt to the changing times.*

In the future, it was clear that Song Ji-ho would be the one in charge.

***

Jeong-hoon visited the Legend Company office after a long absence.

Lee Byeong-seok and ‘Psycho’ Cheon Jin-hyeok were deep in conversation at a desk.

They were creating an encryption program based on the encryption principles Kwak Hyeon-soo had taught them.

The sheer volume of documents recovered from the abandoned mine where Yoo Min-cheol had been stranded was staggering.

The only person who could decipher the code was Kwak Hyeon-soo.

When Kwak Hyeon-soo expressed concern about the workload, Jeong-hoon assigned Lee Byeong-seok to assist.

He believed that Lee Byeong-seok, a programming expert, could develop an encryption program.

“Is it feasible?”

“I could whip up an encryption program in a day, even with my feet tied behind my back.”

Since entrusting the task to Lee Byeong-seok, Kwak Hyeon-soo had become noticeably more relaxed.

Kwak Hyeon-soo had shared all his encryption knowledge, but the program wasn’t completed in a single day.

Eventually, reinforcements were needed. Psycho Cheon Jin-hyeok joined Lee Byeong-seok’s efforts.

Finally, the program was finished today.

“President, it’s all done now.”

Lee Byeong-seok and Cheon Jin-hyeok demonstrated the encryption program they had created.

It worked flawlessly.

“Thank you for your hard work. Let’s celebrate with a beef dinner tonight.”

“Thank you.”

Harley Quinn [likely a nickname for a lively female employee] cheered loudly.

Now, all that remained was to wait for the decryption to begin.

***

Jeong-hoon traveled to Myeongdong and met with Kang Sang-cheol.

From Jeong-hoon’s perspective, Myeongdong was a crucial location.

He needed to unify the Gangbuk area [northern Seoul] as quickly as possible, using this place as a base.

“People have been flooding in lately. I haven’t even had time to sleep, Young Master.”

“That’s a good problem to have.”

“It is, but… the employees are exhausted. They’re complaining that they don’t even have time for bathroom breaks.”

In a short time, they had risen to the top of the industry.

Even without high-interest private lending, they had preemptively dominated the market.

Thanks to that, Japanese capital had entered the picture, but they were unable to exert any real influence.

“I think we owe our number one position to Director Kang.”

“No, the timing was just right. It’s all thanks to you, Young Master.”

Kang Sang-cheol carefully gauged Jeong-hoon’s mood.

It’s only natural to become greedy when things are going well.

“Really? Then wouldn’t you feel even more energized if you got a little taste of the money?”

“You can expect substantial performance-based bonuses if things continue to go well.”

The eyes that had anticipated a small reward today now reflected a hint of disappointment.

“Performance-based bonuses are great, but today, as a little treat, let’s give everyone a bonus of one million won [approximately $800 USD]!”

“Yes? One million won? …Is that really alright?”

Kang Sang-cheol’s eyes widened.

“Why? Is it too little?”

“No. Absolutely not.”

Kang Sang-cheol waved his hands emphatically.

He hurried out of the president’s office.

After a moment.

-Kyaa, kyaa!

Screams and cheers erupted simultaneously.

A moment of personal happiness creating happiness for others.

This was the joy of making money.

Kang Sang-cheol returned to the room, followed by Kwak Hyeon-soo.

“How is the progress coming?”

“We’ve cleared more than half of Myeongdong. And the Cheonji Association guys are pulling out.”

“If they’re leaving Myeongdong, they’re definitely targeting another area. Please track them down.”

“I understand.”

“And we need to clear Gangbuk quickly.”

“Yes? Does that mean that after clearing Gangbuk, we’ll move into Gangnam?”

Jeong-hoon nodded.

“Then, how about calling Park Chang-soo? We could clear it much faster with him.”

“Do that.”

“Who should be the boss?”

“Let’s put Park Chang-soo in charge for now. Anyway, Uncle Hyeon-soo isn’t interested in taking the lead, is he?”

Jeong-hoon considered Hyeon-soo’s personality, knowing he preferred to stay out of the spotlight.

“Thank you.”

“We also need to gather the talent we’ll need to enter Gangnam.”

“I understand. Don’t worry.”

“But where is Eun-soo?”

“That’s….”

Jeong-hoon grew concerned at Uncle Hyeon-soo’s hesitation.

“She’s been guiding a foreigner named Scarlett. It’s a guide in name only… it seems more like a date.”

“Ah….”

*It’s already been a month? I thought I only asked her to be a guide for a week….*

“I understand. Just let her be. She’s been a bit restless lately, so I don’t think it’s a bad thing for her to take a break.”

“Yes, I understand.”

Jeong-hoon also thought of Da-hye when he heard that Eun-soo was dating.

*What is she doing?*

He wanted to get her a gift for studying so hard.

“Then I’ll be going now.”

“Yes? Are you leaving already?”

“I think I have to meet someone.”

*I heard that women like bags….*

Jeong-hoon went to a nearby French luxury boutique.

It was a company renowned for its exclusivity.

It wasn’t a place where you could simply buy things because you wanted to.

But thanks to an employee who recognized Jeong-hoon as the Cash King’s grandson, he was able to purchase items that others had to wait a year for.

The finest French luxury bag.

He also bought a few scarves that would complement her perfectly.

The total came to over twenty million won [approximately $16,000 USD], but he didn’t bat an eye.

If she smiled, that amount of money was insignificant.

He called her from outside the library where she was studying.

Park Da-hye ran towards him from afar, radiating happiness.

Today, she hugged Jeong-hoon without any hesitation.

“I missed you!”

She whispered softly in his arms.

Jeong-hoon quietly replied in her ear.

“……Me too“.

Her eyes widened when she unwrapped the gift.

“Oh my, I heard this is incredibly hard to get. How did you manage to buy it?”

“I gave them money, and they took care of it….”

“Hmm, the Cash King is different, heh.”

She adored the bag and immediately started carrying it.

“Thank you, I’ll cherish it. But I enjoy your visits even more than this.”

Only a short time was available for them, as they were both short on time.

He was scheduled to meet with the president of the Korea Asset Management Corporation [KAMCO].

“I’ll come again soon. I have a dinner appointment tonight.”

“It’s okay, I’ll always… be waiting!”

Park Da-hye waved enthusiastically in front of the library, seeing Jeong-hoon off.

He was being seen off by Park Da-hye, the queen of Seoul National University.

Everyone glared at Jeong-hoon with envious eyes.

***

Full-scale M&A [mergers and acquisitions] activity was about to begin.

He was scheduled to meet with the president of the Korea Asset Management Corporation through the arrangement of Assemblyman Jo Young-jin.

The first step was a meeting with the president of KAMCO, which held a 25 percent stake in Sunjae Heavy Industries.

“Hello? This is Yoon Jeong-hoon.”

“This is Choi In-soo.”

The president of the Korea Asset Management Corporation was under pressure to quickly dispose of various insolvent companies within the corporation.

That was how his performance was measured.

Ideally, he would sell them at a fair price that wouldn’t spark controversy over preferential treatment.

However, his superiors were constantly pressuring him to sell Sunjae Heavy Industries at a bargain price.

Sunjae Heavy Industries was a world-class shipbuilding company, so selling it at a loss was out of the question.

“I would like to purchase 20 percent of the shares in the form of a block deal [a large quantity of stock sold privately].”

Jeong-hoon cut straight to the chase.

“What price are you considering?”

“…….”

Jeong-hoon didn’t answer President Choi In-soo’s question.

“What price are *you* looking to sell it for?”

President Choi In-soo’s eyes gleamed when Jeong-hoon asked.

“I want to sell it with a 20 percent premium on the market price.”

“Weren’t you instructed to sell it at a bargain price from above?”

“Yes, I’m facing pressure from all sides. As you know, they’re telling me to sell it to another party, not your side, at a discounted rate.”

“Yes, I’m aware.”

Jeong-hoon mentally calculated the amount once more.

A 20 percent premium meant an additional 200 billion won [approximately $160 million USD].

It seemed expensive now, but it was actually a bargain.

Starting next year, the shipbuilding industry would experience a historic boom.

It wasn’t a waste of money, but he was curious about the underlying reason.

Choi In-soo wouldn’t personally benefit from selling it at a higher price.

He wouldn’t receive a commission either.

“Wouldn’t it be easier to sell it at a reasonable price? There would be less pressure.”

“It would be a shame to do that. Sunjae Heavy Industries is undoubtedly a valuable company. There’s a clear motive behind their attempts to buy it cheaply. It’s for resale. A company of that size will quickly fall apart if it lacks operational expertise.”

“Operational expertise….”

“Still, you have Shinhwa Mipo Shipbuilding, don’t you? I heard that the number of orders there is increasing rapidly.”

That was a relief.

As planned, Yeongsan Mipo Shipbuilding was creating a positive synergy effect.

“We have no intention of reselling. Our goal is normalization. It was the same when we acquired Shinhwa Heavy Industries. We are solely focused on becoming the world’s number one; we have no interest in buying cheaply and dismantling the company.”

Choi In-soo, who had been listening intently to Jeong-hoon’s words, nodded.

“That’s reassuring to hear. I hope that’s the case.”

Jeong-hoon’s phone rang.

It was Psycho.

“I apologize. It’s an important call, so I’ll have to take it here.”

Jeong-hoon answered the phone.

He deliberately put it on speaker mode.

“President, as you predicted, a large-scale explosion has occurred at the shipyard in Geoje.”

President Choi In-soo, overhearing the phone call, abruptly interjected.

“What does this mean? Are you saying that there’s been an accident at Sunjae Heavy Industries’ Geoje shipyard?”

Choi In-soo’s voice trembled.

The Genius Grandson of the Cash King Becomes a Chaebol