The Genius Grandson Of The Cash King Becomes A Tycoon [EN]: Chapter 89

#089

Jeong-hoon entered the house and went straight to the study after hearing his grandmother call him.

“Did you call for me?”

“Sit down for a moment. I called you about the Yeongi-gun land. Do you have any plans for it? There are so many people who want to buy that land these days. I think we can sell it for a good price if you want.”

“How much can we get?”

“You can get at least tens of billions of won. The rumors have already spread that the new government will push for the relocation of the capital.”

“That’s good. I bought it because it was a beautiful place, so I’m glad the land price went up. I was worried because you said it wouldn’t go up, Grandma.”

Jeong-hoon smiled faintly at his grandmother, and she smiled awkwardly and avoided his eyes.

“It’s a shame. Can we find a place as beautiful as this land?”

“Hmm, with tens of billions, you can buy several times the land you want. Don’t worry.”

Grandma looked at Jeong-hoon and smiled pleasantly.

Her grandson’s investment had yielded tens of times the profit.

‘Now is the perfect time to sell.’

On December 29, 2003, the ‘Special Act on the Construction of the New Administrative Capital’ will be passed in the extraordinary session of the National Assembly. Everyone thinks that the new administrative capital will be moved to the Yeongi-gun area.

However, in 2004, the Constitutional Court ruled it unconstitutional, and the special law lost its effect.

Of course, it does not change the fact that it will become an administrative hub city.

But you can buy it again at a much better price in late 2004 or early 2005.

The land price here will fluctuate greatly once more at that time.

Jeong-hoon had no reason to keep his money tied up here.

“Then please introduce me to a good company. If Hanho Group approaches us, how about doing business with them? I have to pay back the debt from last time.”

Kim Man-ho immediately answered Jeong-hoon’s words.

“Yes, Hanho Construction of Hanho Group is eyeing it. Shall I connect you with them?”

“Please do so.”

Hyeon Jeong-ok looked at Jeong-hoon.

Her expression said to answer quickly.

“Why are you looking at me like that, Grandma?”

“Answer me. Where is next?”

“Where what?”

“Didn’t you already have a place in mind to buy with the money from selling the land?”

Was it because they had spent more time together? Her grandmother’s intuition had become ghostly.

June 2003, right now.

There was a perfect development plan.

‘That’s Pangyo.’

“I want to build a large-scale knowledge industry center in Pangyo.”

“What? Pangyo?”

Hyeon Jeong-ok looked at Man-ho.

His expression was the same.

‘Ha, why is our good-for-nothing grandson trying to buy useless land again? A large building on the outskirts of the city, not in the center of Seoul.’

She felt like a 50 percent vacancy rate was guaranteed.

Hyeon Jeong-ok was worried.

Her decades of experience were strongly telling her it wouldn’t work.

“Pangyo’s land price must have already risen considerably due to the new city development. And if you build a building on the outskirts, not in Gangnam, there will be a significant vacancy.”

“There are such concerns, but if we gather only IT companies, they will quickly gather. I have experience from Jungbu Market, so it’s not difficult. I’m going to create a huge forest of buildings. Shinwa Construction will do it.”

“Ahem, that will cost a lot of money.”

Hyeon Jeong-ok tried to change Jeong-hoon’s mind by emphasizing the amount.

But even more shocking words popped out of his mouth.

“So, I’m going to acquire a bank first. Kang Sang-cheol, the president of Shinwa Finance, is already preparing to acquire a savings bank. What do you think, Grandma?”

Hyeon Jeong-ok was taken aback but didn’t show it.

“What do I think?”

“I can’t own a bank because of the Banking Act.”

“That’s right… are you telling me to be your money bag?”

“It’s not that, invest in me. Chairman Park of Myeongdong, Chairman Hwang, and Chairman Bang have already invested in me, and the rate of return is amazing.”

Jeong-hoon’s words were correct.

The rate of return was already unmatched.

“Those old men were grinning from ear to ear, and I was so happy.”

“It’s Grandma’s turn this time. A savings bank is just the beginning, and it would be good to acquire a large bank that will soon be on the market.”

“You’re not going to miss anything.”

The Korea Bank will soon be on the market. First, acquire a savings bank, then acquire the Korea Bank.

Then, if you acquire credit card companies and securities companies, Grandma Hyeon Jeong-ok can build a huge financial empire.

There was no time. They had to hurry to acquire the savings bank.

“President Lee Soo-hong is currently working on the conceptual design. I’ll let you know when it’s completed.”

“Okay, do that.”

Hyeon Jeong-ok nodded with an indifferent expression and said.

“Go out now. I have something to talk about with Man-ho.”

“Yes, Grandma.”

As soon as Jeong-hoon left the room, Hyeon Jeong-ok stood up.

“Is it possible? Acquiring the Korea Bank. I didn’t know that guy was thinking about that.”

“Money is not a problem. However, it will not be easy if Cheonjihoe [a powerful, possibly clandestine organization] aims for it.”

“Is there no way?”

“I think the young master will solve it. It may be possible if you negotiate with Hanho Group over the land.”

“Yes, it may be a good idea to give the Yeongi-gun land and have us own the bank.”

Man-ho’s eyes widened.

“Could it be that the young master already has the sale of the land in mind?”

“I suddenly had that thought too. Wanting to sell the land to Hanho Group, which is affiliated with Cheonjihoe. I thought it was a little strange.”

“That’s right. It seems he’s trying to negotiate the bank issue with the land.”

‘Ha, how should I take this? I’m completely being played by my grandson.’

Hyeon Jeong-ok shook her head.

She felt that her grandson, who had grown up so quickly, was too big.

And when that thought occurred to her, her worries about the Pangyo development disappeared like snow melting.

She couldn’t read her grandson’s mind well, but she was sure he would make the best choice.

“You prepare the acquisition funds. We have to acquire the savings bank, so we have to hurry.”

“Yes, Elder, I will hurry as much as possible.”

“Okay.”

Hyeon Jeong-ok got up from her seat and looked out the window.

After her grandson returned, she eliminated Ilsong, which seemed impossible.

She didn’t just dismantle it, she ate it all up.

Her grandson’s company had grown that much.

Hyeon Jeong-ok felt that she could now fight them in earnest.

Of course, they have tremendous power.

They still control the legal profession, administrative officials, political parties, and the media.

However, she sensed that the collapse of Ilsong had created a subtle crack between them.

Hyeon Jeong-ok couldn’t miss the opportunity given by heaven.

She clenched her fist.

***

Jeong-hoon went to Pangyo-dong, Bundang-gu, Seongnam-si with President Lee Soo-hong.

He checked the artist’s rendition of the Pangyo Shinwa Techno Valley prepared by Lee Soo-hong.

As he had instructed, there was a green space in the center where people could take a walk and rest, and huge high-tech buildings were located around it.

“My thoughts have been accurately reflected. Let’s proceed like this. Start purchasing land and request the designation of an urban development zone in Seongnam City.”

“Yes, Young Master. I will proceed according to the procedure.”

“Ah, offer landowners and building owners a price that is more than 20 percent higher than the appraised value. We can make huge profits from this project, but they will lose their livelihoods. Consider giving people who lose their homes apartments owned by Shinwa Construction at cost.”

“Yes? Really?”

Lee Soo-hong looked at Jeong-hoon with a disbelieving expression.

‘Then you could lose hundreds of billions of won, but the chairman wouldn’t have failed to calculate that.’

It could only be described as great courage.

He wasn’t sure how much he would earn in the future, but he was considerate first…….

Others were anxious to lower the appraised value.

That was the same for projects done by the country.

Trying to get a little more was human nature.

But the man standing in front of Lee Soo-hong was going against human nature.

He had already become a giant.

“Yes. Chairman. I will proceed like that.”

Lee Soo-hong’s eyes were filled with respect.

After finishing the meeting with the president of Shinwa Construction in Pangyo, Jeong-hoon went to the Yeongi-gun land with Kwak Hyeon-soo and Eun-soo.

He was scheduled to meet Chairman Han Pan-soo of Hanho Group there.

In the car going down, Kwak Hyeon-soo said.

“Young Master, I found the place where the Cheonjihoe kids are.”

“Where is it?”

“It was an orphanage in Songnisan Mountain next to Gongju City.”

“Really? It’s close. Contact Mr. Park Chang-soo and tell him to send some people. Let’s hit it tonight.”

“Yes? Today?”

Kwak Hyeon-soo hesitated for a moment and then opened his mouth.

“Isn’t it too urgent?”

“No! For those children, every day will be hell. We have to save them from hell as soon as possible.”

“Okay. And Kim Hyeon-cheol is there.”

“Are you talking about the director of Hope Orphanage?”

“Yes.”

Jeong-hoon looked at Eun-soo next to him.

Eun-soo’s breathing, which seemed to be sleeping, became rough.

‘Kim Hyeon-cheol and Hope Orphanage, what was his role?’

No matter how much he thought about it, he couldn’t find the answer.

He had to bump into it to find the answer.

After finishing his thoughts, Jeong-hoon said indifferently.

“Tell Mr. Park Chang-soo to bring about fifty agile people.”

“That many?”

“Director Kim Hyeon-cheol must be from a special forces unit. Maybe that place is also guarded by people who have received assassination training. We have to be careful.”

“Okay. Young Master. I will prepare like that.”

Kwak Hyeon-soo looked at Jeong-hoon in the rearview mirror.

‘Hoo, how far did you think?’

Kwak Hyeon-soo was once again impressed by his preparedness to prepare for things he hadn’t even thought of.

Grasping the steering wheel tightly, Kwak Hyeon-soo stepped on the accelerator.

The Rolls Royce smoothly increased its speed and shot forward.

“I’m sorry I’m late.”

Jeong-hoon showed courtesy to Han Pan-soo.

“Hoo, you’re not acting up like last time.”

“Today, there are things we need to give and take.”

“Be careful, Ilsong’s curse can swallow you up. Is it called the winner’s curse? You can get indigestion if you overeat.”

“It’s too small to be called overeating. I don’t know if I eat something like Hanho Group.”

“This guy is just spouting nonsense with his mouth.”

“Chairman. We’re not here to fight today, are we? Look around you. Isn’t it too beautiful?”

“Stop talking nonsense and get to the point. How much are you thinking of selling it for?”

“One million won per pyeong [a Korean unit of area, approximately 3.3 square meters]. Two hundred billion won for two hundred thousand pyeong.”

“It’s only 150,000 won per pyeong now.”

Jeong-hoon looked at Han Pan-soo and smiled slightly.

“Chairman, my land is one piece. You can build it all at once as you wish. Apartments if you want apartments, factories if you want factories. The most difficult thing in the land development business is land purchase. You don’t need to do any landowner work on my land.”

“Hmm……. Still, one million won is too much.”

Han Pan-soo also knew. If you don’t get the consent of 2/3 of the landowners, you can’t proceed with the project. But Yoon Jeong-hoon’s land is all one piece. If Yoon Jeong-hoon’s land area is 200,000 pyeong, you can forcibly expropriate up to 100,000 pyeong around it. Even if you lose money here, you can pressure the appraiser during the appraisal to lower the price and buy the surrounding land cheaply.

“500,000 won per pyeong, making it 100 billion won. I think it would be good to do it this way.”

“Hmm, if that’s the case, there is one condition. If you listen to it, I’ll hand it over for 500,000 won per pyeong.”

“What is the condition?”

“I think a bank will be on the market soon, and I’ll take it.”

“What? Are you talking about Korea Bank now?”

“Yes, you know it well. Isn’t it a bad bank anyway? Isn’t it a bad bank with a BIS ratio [Bank for International Settlements ratio, a measure of a bank’s capital adequacy] of less than 8 percent, which is the minimum recommended level?”

“That’s true, but…….”

Han Pan-soo was embarrassed. Park Hyeon-cheol’s line was planning to own the bank disguised as a foreign hedge fund, Lone Star.

The BIS ratio was originally about 9 percent, but they worked hard to manipulate it to 6 percent in order to buy it cheaply.

Park Hyeon-cheol’s line in the legal profession was planning to own it jointly, but Yoon Jeong-hoon is trying to take it…….

Han Pan-soo pondered for a long time.

‘If Park Hyeon-cheol has the bank, he can shake the manufacturing industry. Even now, they have a powerful weapon called the law. Law and money? No.

Cheonjihoe as a whole may not know, but at least for himself, it is better for Yoon Jeong-hoon to have it. Park Hyeon-cheol, who is aiming for the next leader, does not need to be strong.’

Han Pan-soo carefully said to Jeong-hoon.

“I know there is already an owner? But I don’t care who takes it over.”

“Thank you. Then I’ll assume you agree that I can take it over.”

“I don’t know about that, but if you have the ability, you can do it.”

“Thank you. Now, all you have to do is tell me the price at the time of bidding.”

Han Pan-soo’s fingertips trembled.

“What are you talking about? Why would I tell you that?”

“Well, according to my investigation, I might be able to know the price.”

“Cough, are you telling me to betray the organization?”

“Betrayal? It’s just telling me a few numbers.”

“Let’s pretend today’s deal didn’t happen.”

Han Pan-soo tried to get up from his seat.

“Chairman. You don’t know, so write the contract while you’re here. You never know? You might change your mind. If you change your mind but sell the land in the meantime, you’ll be very upset.”

“Cough. That’s true, but.”

Jeong-hoon took out the contract in front of Han Pan-soo, who was hesitating.

He wrote numbers in the blanks and added special clauses.

And he signed it.

“Chairman, I signed it, so it’s valid as soon as you teach me the numbers.”

“What if you break your promise like last time?”

“Shall we put a special clause that we will compensate you with 100 billion won?”

“That’s enough. It’s a meaningless contract anyway.”

Han Pan-soo got up from his seat.

Yoon Jeong-hoon stared at him for a while, took the contract in Jeong-hoon’s hand, and returned.

Jeong-hoon stared blankly at his back.

‘Anyway, he pretends not to be. A dog doesn’t stop eating poop. Honest people who have no lies in front of their own interests, they are really honest!’

Jeong-hoon shook his head as he looked at his receding back.

***

After meeting Han Pan-soo, Jeong-hoon went to the orphanage where the Cheonjihoe kids were.

It was hidden deep in the foothills of Songnisan Mountain.

When he arrived, Park Chang-soo and dozens of his gang members were waiting nearby.

When he saw Jeong-hoon, he hurriedly ran to open the door.

“Chairman, how have you been?”

He bowed deeply and greeted him.

“Have you completely taken over Incheon?”

“Yes, thanks to you, Young Master, we are easily cleaning up. Mr. Hyeon-soo and Ms. Eun-soo have been a great help.”

“Thank you for your hard work. Please try a little harder so that we can take over Gangnam at the end of the year.”

“Yes? At the end of the year?”

Park Chang-soo looked at Jeong-hoon.

The expression that it was sweeping was accurate.

Last week, he barely completely took over most of the large organizations in Incheon.

He was planning to consolidate his position by the beginning of next year.

Taking over Gangnam, he was worried and excited.

Taking over that place is the same as taking over more than half of Korea.

“Why? Are you not confident?”

“Ah, no. It’s the Young Master’s order, so I have to follow it unconditionally.”

“Take over Gangnam by the end of the year and then consolidate your position. Around next year, those guys will start to retaliate in earnest. They are not guys who will stay still.”

Park Chang-soo looked at Jeong-hoon.

‘You’ve gotten bigger in the meantime.’

He was thinking a little bigger and deeper than himself.

Park Chang-soo was stimulated by seeing him, whose presence had grown even more. He vowed not to settle for this position.

“Eun-soo, Mr. Hyeon-soo, and I will go in first. There are things I need to check after going in. Come in after we go in. By then, everyone will be aiming for us.”

“Yes? Are you going to take on the role of bait?”

“Well, it’s bait, but there are also things I need to check. Then see you later.”

Jeong-hoon took the lead.

The three people jumped over the high wall of the orphanage with the sunset on their backs.