The Genius Grandson Of The Cash King Becomes A Tycoon [EN]: Chapter 91

#091

His voice was confident and full of conviction.

He was persuading people with logic.

Kang Sang-cheol had become a new man.

Interrupting Kang Sang-cheol, who was advocating for the acquisition of Solomon Savings Bank, Jeong-hoon asked,

“Is Solomon Savings Bank the most attractive company right now?”

“Yes. I think it’s the most attractive and has the highest growth potential.”

“Why?”

“The current bank owner, Hwang Seok, has outstanding management skills. That’s the most important factor. The fate of the company depends on who acquires it. It’s the same principle as how all the affiliates of Shinhwa, which you established, are thriving.”

Jeong-hoon looked at him.

‘He’s really trying to butter me up today. But Solomon Savings Bank ends up going bankrupt… Should I buy a company that’s going to go bankrupt?’

Jeong-hoon pondered.

Solomon Savings Bank goes bankrupt in 2011 during the savings bank crisis, like other banks.

There are still eight years left.

He concluded that it would be fine if he prepared for the risk of bankruptcy in the meantime.

It could be a good opportunity.

There is always opportunity after a crisis.

Jeong-hoon also wanted to meet Hwang Seok, the bank manager whom Kang Sang-cheol had praised so highly.

“I’d like to meet Hwang Seok. Would you like to meet him first, Kang Sang-cheol?”

“Yes, Master. That’s my specialty.”

Kang Sang-cheol’s face lit up at the opportunity to demonstrate his expertise.

Making connections with people was his ability and specialty.

“Then meet him first.”

“Yes, I’ll report to you after I meet him.”

“By the way, how much have you prepared for the briefing? A month?”

“I stayed up all night for a week. I’m learning a lot thanks to you, Master.”

“You’ve changed a lot. Good job.”

Kang Sang-cheol’s eyes turned red.

‘Is it an eye infection?’

Jeong-hoon got up and went to him.

“It would have been difficult alone, so use this to treat the employees who helped you.”

He took an envelope out of his pocket and handed it to him.

“Now you really look like the president of Shinhwa Lending. You need to know more than your employees. You’re not a loan shark from the back alleys of Myeongdong [a bustling shopping district in Seoul]. You need to become a financial expert who controls Myeongdong.”

“Yes, Chairman. I will work hard.”

Kang Sang-cheol bowed.

Water droplets were falling on the floor.

***

Kang Sang-cheol used his skills to have several drinking sessions with Hwang Seok, the head of Solomon Savings Bank.

He said that Hwang Seok showed curiosity when he heard that Shinhwa Empire Holdings was interested.

Jeong-hoon decided to report to his grandmother before meeting with Chairman Hwang Seok to negotiate.

He knocked on the door of his grandmother’s study.

“Grandmother, it’s me.”

“Yes, come in.”

When he went inside, Mr. Man-ho was also there.

“As I mentioned before, I’ve decided on the savings bank to acquire. It’s Solomon Savings Bank. What do you think?”

“Solomon? Hwang Seok?”

“Yes, his reputation isn’t bad. Kang Sang-cheol, the president of Shinhwa Lending, says he’s sharp and cold. A bit like ice.”

“He’s got a knack for handling money. A money handler has to be cold.”

“Yes, Elder. That’s right.”

Mr. Man-ho chimed in, agreeing with his grandmother’s words.

“Then let’s meet and decide.”

“Yes, do that. And this grandma will give you a big gift soon, so look forward to it!”

“Yes? What gift?”

“It’s a surprise gift. But don’t expect too much.”

“Yes. Still, I’m looking forward to a gift from the Cash King grandmother.”

As the dim sunset approached, Jeong-hoon set off for Yeouido [Seoul’s main financial district] to meet Chairman Hwang Seok.

When he entered the reserved Japanese restaurant, Kang Sang-cheol was waiting.

“You’ve arrived, Chairman.”

He bowed deeply, causing those around him to stare with fearful eyes.

“Hmm, when you do that outside, you look like a gangster. Try to avoid it outside…”

“I’m sorry, Chairman.”

Kang Sang-cheol bowed even lower, making the people around them look at Jeong-hoon with even more suspicion.

‘Damn it, I need to get inside quickly.’

“Let’s go in. There are too many eyes watching.”

He opened the door and went inside, where a man with sharp eyes was looking at him.

He wasn’t very big, but his body looked solid.

Short hair and gold-rimmed glasses emphasized his sharp image.

He stood up and greeted Jeong-hoon.

“Have you arrived? I’m Hwang Seok, the head of Solomon Bank.”

“Nice to meet you. I’m Yoon Jeong-hoon from Shinhwa Empire.”

Jeong-hoon deliberately emphasized his position.

It was a good way to give authority to his youthful face.

People knelt before the authority of a position more easily than he thought.

People were overwhelmed by the weight of the crown he wore.

There were only basic appetizers on the table.

Jeong-hoon picked up the kettle and offered him wine.

He was startled.

“I’ll pour first.”

“No, please.”

He could tell that he valued position more than age, at least.

The first step was a pass.

After emptying his glass, he poured wine for Jeong-hoon. Jeong-hoon also emptied it in one go.

“You acquired Solomon Savings Bank not long ago, right? Is there a special purpose for the acquisition?”

Instead of answering Jeong-hoon’s question, Hwang Seok asked back.

“Why do you want to acquire a savings bank, Chairman Yoon?”

“Because of the common people.”

Hwang Seok paused and looked at Jeong-hoon.

“I didn’t expect to hear that from the chairman of a large corporation.”

“As you know, I was once an orphan. Because I was extremely poor, I know the lives and difficulties of the people in the lower neighborhoods very well.”

“That’s a relief. I was a little worried because of Shinhwa Lending, but you’re acquiring a savings bank for the sake of the common people…”

Hwang Seok nodded and fell into thought.

Then, with a serious expression, he asked Jeong-hoon.

“Is that the reason for Shinhwa Lending as well? From what I’ve heard, it’s different from other loan companies. There’s no vicious debt collection, and if you become unemployed and fall behind on payments, you’re exempt from debt collection if you receive job training…”

“That’s true. It’s really difficult for ordinary people to borrow money urgently. And it’s often difficult to repay debts. I wanted to give those people another chance.”

“Still, the operating profit margin is the highest in the industry, so I really can’t believe it.”

“…….”

Jeong-hoon was too embarrassed to say more.

It would be self-praise if he said it himself.

Kang Sang-cheol, whose mouth was itching, quickly jumped into the gap.

“Our chairman may look cold, but he has a lot of affection and is very thoughtful. You’ll probably know that soon if you work with him.”

“Yes, I’ve heard rumors. He’s famous for not skimping on employee benefits.”

“Of course. Employee benefits are basic, and he personally takes care of even family events. He’s cold and handsome, but he’s very delicate and has a warm heart. His management strategy is also outstanding. The industry’s number one is thanks to the chairman. Hahaha!”

Jeong-hoon felt like his face was burning.

‘Why is this guy suddenly like this?’

He was embarrassed.

He wanted to change the subject.

“If you were to sell, what price would you expect?”

Hwang Seok didn’t answer.

Instead, he held up his empty glass and asked for wine.

When Jeong-hoon filled his glass, Hwang Seok emptied it in an instant and opened his mouth.

“Price isn’t important. Actually, I have a similar reason to you, Chairman Yoon. My father ran a small company. It was just big enough to make a living.”

He choked up at the old story, moistened his throat with water, and continued.

“I needed urgent money because of a small problem, but the banks were too high, and the interest rates on private loans were murderous. I had no choice but to use high-interest private loans, and my family fell apart. The rest is obvious. Fortunately, I was lucky enough to succeed greatly. I acquired a savings bank with the hope that no one would have the dirty experience I had with the money I have.”

“That’s good. Anything needs a middle ground. A savings bank is just such a position. A bank for people in the middle. Would you like to join me?”

Hwang Seok picked up his glass again.

When Jeong-hoon filled his glass, this time he picked up the kettle and filled Jeong-hoon and Kang Sang-cheol’s glasses.

“I look forward to working with you in the future, Chairman Yoon.”

– Cheers.

The glasses held by the three people collided with a loud noise.

The wine overflowed, but no one cared.

People with the same mind gathered.

It was a place where hearts went back and forth as much as alcohol.

***

Jeong-hoon, who had drunk a lot of alcohol for the first time in a while, regained his senses and went out to the living room.

A glass of honey water was placed on the table.

“Drink it. It will make you feel better.”

“Yes.”

“Seeing you drink so much that you’re drunk, this grandma is relieved that my grandson is no different from other young people. I was worried that you were too caught up in revenge.”

“You don’t have to worry. I’ll keep my balance. There are people who protect me by my side, too.”

Jeong-hoon smiled.

“Is Da-hye that kind of presence for you?”

“I don’t know. It’s just peaceful when I’m with Da-hye.”

Jeong-hoon was about to talk about Da-hye, but he had to change the subject.

Her expression looked dark.

He had to talk about Solomon Savings Bank.

“I met Chairman Hwang Seok yesterday. He was sharp and cold. But we connected.”

“Connected… I don’t know what that means, but it sounds good.”

“Yes, the goal of the savings bank that he thinks of and the goal that you and I think of were the same.

‘A warm bank for the common people.’

He’s a cold person, but he has a hot torch in his heart.”

“Really? A hot torch… You’re both fools!”

Grandma smiled as if it wasn’t bad.

“Is that so?”

Jeong-hoon also smiled, asking back.

“How did you decide on the acquisition price?”

“We decided to replace it with stock. He asked for 1 percent of the shares of the comprehensive financial group holding company.”

“What? Only 1 percent?”

“Yes. He wants to pursue his dreams rather than money. This is the perfect place to pursue his dreams. Under you, Grandmother.”

“Under me what… I’m just a figurehead. Let you decide everything!”

“Yes. I’ll do it right. So that your dream can be realized.”

“What are you talking about? Stop talking nonsense and focus on making more money to eliminate Cheonjihoe [a secret society].”

“Yes.”

The front door opened and Mr. Man-ho came in.

“Have you arrived?”

“Master, your appearance… Did you drink a lot yesterday?”

“Yes, a little.”

“Haha, you look like a young man these days, so it looks good. Please drink often in the future.”

“Oh, why are you encouraging unnecessary things!”

Grandmother’s voice suddenly grew louder.

Her heart, worrying about her grandson’s health, was conveyed.

“I’m sorry. I was being presumptuous. Well, I’ll tell you what you said last time.”

“Okay, report.”

“Are you talking about it here?”

Kim Man-ho hesitated and looked around.

“Since I have to say it again anyway, just tell that guy everything at once.”

Grandmother turned her head and looked at Jeong-hoon.

“It’s a punishment for drinking too much yesterday, you!”

“Yes?”

“Then… ahem.”

Mr. Man-ho cleared his throat.

He took out the document and opened his mouth.

“Changshin Savings Bank in Daegu, Ilshin Savings Bank in Busan, Mudeung Savings Bank in Gwangju, and all savings banks in Daejeon and Gangneung have applied for a merger. We will prepare to merge them with Solomon.”

“Where did these savings banks suddenly come from?”

“Didn’t I tell you that Grandma likes money? They are owned under borrowed names to avoid Cheonjihoe’s eyes. This time, we plan to merge them all into one. And Solomon and Shinhwa Lending will also merge.”

“If that happens… aren’t we already the number one savings bank?”

At Jeong-hoon’s question, Grandma smiled.

“Wow, Grandma, you’re amazing.”

“It’s amazing, but it’s all yours, Jeong-hoon. With this, now acquire Korea Bank and acquire securities and insurance companies. So make it a giant financial empire that can suppress the Cheonjihoe guys.”

“Me?”

“Of course. I’m just lending you my name. Since it’s yours anyway, you have to run it yourself.”

“Okay.”

Jeong-hoon was just dumbfounded by his grandmother’s suddenly enlarged appearance.

He already had a headache with what he was doing now, but he had to do more.

His head throbbed and ached more because of the alcohol he drank yesterday or because of what was to come.

“Auntie, please give me one more glass of honey water.”

Jeong-hoon wanted to overcome his headache with sweet honey water.

***

It was a hot summer.

Korea Bank, which had been solid until last year, was suddenly labeled as an insolvent company from the spring.

There was an uproar that it should be sold as soon as possible to transplant the excellent efficiency of the private sector into the organization.

It couldn’t have been like this in just a few months.

In the end, it was Cheonjihoe’s trick to buy it cheaply.

Jeong-hoon didn’t like what they were doing, but he left it alone.

That’s how you can buy it cheaply.

He didn’t do the stupid thing of raising the value of the item he was trying to buy.

After acquiring Solomon Savings Bank, he promoted a merger with his grandmother and the company.

The Financial Supervisory Service came in with a tackle [obstructed the merger].

“Don’t worry too much. If I go and have a drink, everything will be resolved, Chairman.”

As he said confidently, President Kang Sang-cheol entertained for several days, and then the merger was resolved smoothly.

Solomon Savings Bank was reborn as a savings bank with branches nationwide. It was larger than most lower-ranked banks.

Jeong-hoon wondered what to name it.

He decided on ‘Future Savings Bank’.

‘A savings bank for a better future for people.’

That was the company’s concept.

Grandma was also satisfied.

He actively announced everything he had been doing secretly so far.

Future Savings Bank showed off its presence through newspaper articles and advertisements.

The Cash King’s Genius Grandson Becomes a Tycoon.