The Genius Grandson Of The Cash King Becomes A Tycoon [EN]: Chapter 77

#077

“Did you come all the way here just to talk nonsense?”

Chairman Park’s voice grew louder.

“5 trillion [approximately 3.7 billion USD]? I wouldn’t even lend you 50 billion [approximately 37 million USD], but 5 trillion? Are you kidding me right now?”

“No, sir. I need 5 trillion won.”

Chairman Park clenched his fist, his hand trembling.

“You rascal!”

He looked at Jeong-hoon.

His lips were slightly raised.

Anger surged from within.

His expression didn’t change at all.

Seeing Jeong-hoon, who wasn’t fazed by his intensity, Chairman Park sensed that getting angry wouldn’t do any good.

He took a deep breath and asked in a calm voice.

“Tell me why.”

Jeong-hoon looked at Chairman Park.

He certainly had the aura of the leader of the Myeongdong Four Kings [a group of influential businessmen in the Myeongdong district of Seoul].

He must have brought many people to their knees with that aura and the money he possessed.

Mostly those who urgently needed money.

Because of their disadvantageous position and that tiger-like aura, he probably squeezed them even more.

If they asked to borrow 100 million [approximately 74,000 USD], he would lend them 50 million.

But if they asked to borrow 200 million [approximately 148,000 USD], he would only lend them 100 million.

That was why.

If he initially asked for 5 trillion, the reference point would become 5 trillion.

Now, negotiations would begin from that 5 trillion mark.

“I need a lot of money not only to acquire Sunjae Heavy Industries but also to acquire Sunjae General Machinery.”

“Even so, you don’t need 5 trillion.”

He was still huffing and puffing.

“That’s if the banks write off the debt. If I acquire it without debt relief, I’ll also need operating funds. The shipbuilding industry is huge. If there’s a deficit, it’s easily hundreds of billions.”

Chairman Park nodded at Jeong-hoon’s words.

“The debt will be written off. At least 50 percent. So don’t worry.”

“I want a definite answer.”

“I can’t guarantee it, but the Cheonji Association [likely a powerful business alliance or consortium] guys also want the write-off, so it will happen.”

“The strong labor union is also a problem.”

Jeong-hoon continued to point out the problems of Sunjae Heavy Industries.

“Isn’t that up to you? I know that Shinhwa Mipo Shipbuilding and Shinhwa Heavy Industries have already declared no strikes.”

“That was possible because I had trust with them. But I’m not sure about Sunjae Heavy Industries yet. The risk is high.”

Chairman Park’s eyebrows began to twitch again.

“So, how much do you want?”

“How much are you willing to lend me?”

“Aren’t you going to use your own money?”

“I’ve been buying this and that, so my funds are tight.”

“Ahem, alright. I can manage up to 500 billion.”

“That won’t do. Then I’ll back out.”

“You…!”

Chairman Park’s face blazed like a volcano.

“You have to consider the financial situation of the companies I own. If I pour a huge amount of money into the Sunjae Heavy Industries acquisition and the Cheonji Association guys come in, my companies could be blown to pieces. Please keep that in mind.”

“Ahem.”

Chairman Park had no choice but to agree with Jeong-hoon’s words.

If the prosecution and the National Tax Service came in and the banks recalled their loans, it could collapse in an instant.

The International Group had disappeared like that in the past.

“Alright. I didn’t think of that part.”

Chairman Park was still glaring at Jeong-hoon.

He swallowed the saliva that had gathered in his mouth.

“1 trillion! That’s the best I can do.”

“I need to prepare 2 trillion. That’s my bottom line, Chairman.”

Jeong-hoon and Chairman Park’s gazes crossed sharply.

Sparks were flying.

Jeong-hoon was about to get up from his chair.

“Alright, 2 trillion. But the collateral is all the companies you own.”

“Good. If you make the collateral that way, I also have a condition.”

Chairman Park slammed his palm on the table.

“What? A condition? I’m lending you 2 trillion, and you’re setting conditions?”

“This is an acquisition battle where I’m betting everything. Please don’t be too angry.”

“What’s the condition?”

“Instead of making the collateral the entirety of my companies, I want it to be interest-free.”

“What? Interest-free?”

Chairman Park’s face was so flushed that it turned as black as charcoal.

“Or, I’ll give it to you as a third-party allocation capital increase [issuing new shares to a specific investor] after the acquisition is complete.”

Jeong-hoon first threw out the worst option, interest-free, and then presented a not-so-bad condition.

Then, people usually accept it.

“Hmph, I’ll take it as a third-party allocation capital increase.”

“Thank you, Chairman Park.”

“Get out.”

“Yes.”

As Jeong-hoon went outside with a smile on his face, Chairman Park made a phone call.

“It’s me, it’s been a while. How are you doing?”

“Jeong-hoon came by. Shouldn’t we meet sometime?”

“Alright. I’ll go down to Jungbu Market.”

After hanging up the phone, Chairman Park went to the living room.

He felt bad that he had only offered a glass of water to the grandchildren.

“Get up, it’s dinner time, let’s go eat.”

Gwak Hyun-soo was surprised. It was the first time he was getting a meal from the miserly Chairman Park.

“Thank you, Grandpa. Buy us something delicious.”

Eun-soo said with a bright smile.

Seeing that, Chairman Park thought to himself once again.

‘That child, she really looks like Ha In-sun, really.’

***

Jungbu High School changed its name to Shinhwa High School after Hyun Jung-ok acquired it.

It was changed from a local general high school to a national autonomous private high school.

It had recently completed remodeling, and dormitories were newly built by purchasing nearby houses.

With full tuition and dormitory fees waived and a high-quality faculty, it quickly rose to become the best prestigious high school in the country.

While Hyun Jung-ok was tidying up the flower bed in front of the principal’s office, she heard a familiar voice of an old man.

“Hey, Madam Hyun.”

Turning her head, Chairman Park of Myeongdong was there.

“When did you come? You should have called.”

“Madam Hyun, what are you up to at your old age? You should take it easy.”

“This is taking it easy, come on in. I’ll make you your favorite coffee mix.”

The two went into the chairman’s office.

Hyun Jung-ok made his beloved coffee mix strong and placed it on the table.

“Jeong-hoon came by?”

“He asked to borrow 2 trillion, 2 trillion isn’t the name of the dog next door, that guy’s guts.”

Chairman Park shook his head.

“So?”

“I lent it to him.”

Hyun Jung-ok’s eyes widened.

“You lent him 2 trillion? Knowing your personality, you must have secured all the collateral… But to raise 2 trillion, your losses must be considerable.”

“Can I bring those guys down without taking a loss? If your grandson grows the company well later, I won’t take a loss.”

“Then you won’t take a loss.”

“When did you become a grandson fool? Aren’t you trusting him too much?”

“It’s not that I trust him, it’s just that the articles these days are saying that. The rising star of the business world, a dark horse, they’re attaching all sorts of fancy words.”

Hyun Jung-ok’s shoulders were puffed up.

“What, am I supposed to live feeling sorry for not having a grandson?”

“I didn’t come to hear you brag about your grandson, what’s the matter?”

“That’s… how long are you going to just watch your grandson’s antics? Shouldn’t you lend him a hand?”

“I don’t have any strength, would me stepping in even be helpful?”

“You’re a woman, so you don’t have strength, but you have the most money.”

“Geez, your lame jokes are still the same.”

“Let’s join forces. This time is different from last time.”

“Last time, you lost your son, and I lost my child and daughter-in-law….”

Chairman Park’s expression crumpled.

“It’s different from then.”

“No, it’s the same. You were always hasty back then. I still think you’re hasty now. Jeong-hoon is stepping up and holding back, otherwise, I would have stopped him.”

“Starting with Sunjae Heavy Industries, if we normalize the failing companies that are coming out at bargain prices, we can sweep them away soon. Let’s join forces.”

Hyun Jung-ok shook her head and then let out a long sigh.

“Hoo, you’ve been doing things too hastily since then.”

“Really? Then have you been terrified since that day?”

Hyun Jung-ok and Chairman Park’s eyes clashed strongly.

“Hey, did you come to pick a fight?”

“That’s not it, we have to do it together. This time is definitely different. The power we have is much greater than last time.”

“Hehe, don’t you think they’ve become even bigger?”

“Hey, there’s no need to look at the situation so negatively.”

“Tsk tsk, your information in Myeongdong is so dark.”

Hyun Jung-ok took a document from her desk and handed it to him.

“Read it and erase the contents from your memory.”

“What is it?”

“It’s what they’re ultimately trying to do!”

Chairman Park’s face contorted severely as he checked the document.

“Are they going to buy up all the defense companies and start a war?”

“They won’t actually start a war. That’s self-destruction. But if they sustain the crisis, won’t they gain a lot? Preventing that is what I need to do now. Just as I have my work, I think you have your work too. Of course, our grandson’s work too.”

“Ahem, I didn’t know. I didn’t know you were secretly doing this at all. I’m sorry again.”

“It’s okay. You came after a long time, so have a meal and go.”

“Is there anything I can help with?”

Chairman Park asked cautiously, and she shook her head.

“It’s better to proceed secretly. And I have to be the ultimate strength for our grandson Jeong-hoon.”

“Alright, you have to be careful. Madam Hyun.”

The two met after a long time, had dinner together, and then parted ways.

Before going to sleep, Hyun Jung-ok once again recalled what she had done so far.

She bought key companies that are indispensable to the defense industry.

Small and uninteresting but irreplaceable companies.

That can eventually stop a large machine.

She fell asleep, picturing in her mind what she had to do.

*

Song Ji-ho of Ilsong Group visited Chairman Han Pan-soo of Hanho Group with his father’s order.

A company that grew into a large corporation by making money from gunpowder manufacturing.

It was running businesses like an octopus, like other conglomerates, including defense, heavy industry, department stores, and construction.

“It’s been a while, Ji-ho.”

“Chairman. Have you been well?”

“Is it because of the Sunjae Heavy Industries acquisition?”

“Yes, he said that because it’s a Cheonji Association matter, he wants to raise money as much as possible and acquire it.”

Han Pan-soo of Hanho Group’s face hardened at Song Ji-ho’s words.

“Is that Ilsong’s business or Cheonji Association’s business? Isn’t it Ilsong’s expansion, so isn’t it Ilsong’s business?”

“That’s true. The financial situation isn’t good either. But he said that he absolutely had to acquire it.”

“It’s not like we can’t acquire it. The current price is practically free.”

“So he proposed to the chairman. If Ilsong acquires Sunjae Heavy Industries, he will support Hanho in the Sunjae Machinery acquisition battle.”

“Really? Is that certain?”

“Yes, he said he would draw up a contract.”

“Good, that’s enough for me to support. How much do I need to support?”

Song Ji-ho’s mouth went dry.

He wanted to succeed in the task his father had ordered.

“It’s 1 trillion won.”

Han Pan-soo’s eyes widened.

“1 trillion won? No way. If Ilsong is going to acquire Sunjae Heavy Industries with Hanho Group’s money, I’d rather do it myself.”

“Chairman, it’s the intention of the head of the Cheonji Association. He asked you to follow for the sake of the greater good.”

“Ahem, I’ll support 500 billion, so tell him that. And make sure to remember that the Cheonji Association doesn’t exist only for Ilsong. If you try to take everything like your father, there will be a lot of backlash.”

“I understand.”

“By the way, isn’t Sunjae Heavy Industries being eyed by other guys?”

“No. Most companies are shaking their heads at the heavy industry’s strong labor union and frequent accidents.”

“Hmm, that’s true. But the last accident didn’t have any casualties. Did you induce it that way?”

“……That’s not it.”

“But no one was hurt……. It seems like there’s someone behind it?”

“No. You don’t have to worry.”

“It’s Ilsong’s business, so I won’t interfere. In my experience, there’s definitely someone behind it. Otherwise, there would have been casualties.”

“I understand. Thank you for the chairman’s advice. I’ll take another look.”

Song Ji-ho was getting annoyed with the suspicious old man’s advice.

“By the way, what did you say about the collateral?”

“It’s 30 percent of the holding company Ilsong’s shares.”

A smile flashed across Han Pan-soon’s face.

“That’s not bad. Proceed with the contract through the legal department.”

“Yes, Chairman, then I’ll be going.”

Chairman Han Pan-soo of Hanho Group watched Song Ji-ho leaving the room.

That guy is definitely aiming for the next head of the Cheonji Association.

His son and a few others were also candidates for the next head.

He wondered who would take over the Cheonji Association.

***

Choi In-soo, the president of Korea Asset Management Corporation, called.

He asked for a solution, saying that the pressure from the governor of the Korea Development Bank was serious.

He told him to arrange a meeting.

Jeong-hoon was deliberately late for the appointment.

The most powerful person is the one who enters the room last.

Because the governor of the Korea Development Bank has great power, he will think he is the powerful one.

That’s a 착각 [chakgak – delusion or misconception].

Money is power.

Jeong-hoon entered the Japanese restaurant across from Shinhwa Securities.

It was the place where the employees had a 회식 [hoesik – company dinner] after winning first place in the Shinhwa Securities profitability competition. It was famous for its omakase [a Japanese dining style where the chef selects and serves seasonal specialties].

Following the employee’s guidance, he entered the reserved room. President Choi In-soo and the governor of the Korea Development Bank had both already arrived.

“This is Yoon Jeong-hoon. I’m sorry for being late.”

“Ahem, you look young, but is it okay to make people wait?”

He was speaking informally and picking on him for being young, which was slightly annoying.

He would endure it once.

“The traffic was a bit heavy.”

The meal came in, and the alcohol went back and forth several times.

Perhaps because of the governor of the Korea Development Bank’s status, his voice grew louder and louder.

As if testing Jeong-hoon’s patience, he crossed the line several times.

The dam of Jeong-hoon’s patience cracked.

And eventually, the dam collapsed.

Jeong-hoon asked a question.

“What is the term of the governor of the Korea Development Bank?”

“It’s 3 years. Now there’s a year and a half left.”

“Then after a year and a half, you’ll be the same as the grandfather next door who doesn’t even know your name.”

“What!”

“Seeing that you have no manners or tact, you might be more suited to being a backroom old man.”

President Choi In-soo, who had arranged the meeting, had a pale face.

Jeong-hoon held a bottle of alcohol in his hand.

He poured a glass of alcohol and then emptied the glass.

Then he turned his head and looked at the governor of the Korea Development Bank.

“The glass is empty. Governor.”

He clenched his fist, understanding Jeong-hoon’s intention.

His face was already flushed red.

“These days, young people will commit murder if you give them 1 billion [approximately 740,000 USD]. Governor, how much will you give me to pour you a drink?”

“You rascal!”

A thunderous shout filled the room, but Jeong-hoon didn’t back down either.

“Ten million?”

“Twenty million?”

The amount went up one by one.