The Genius Grandson of the Loan King - Chapter 81 (81/840)
< This place is always delicious no matter when you come. >
#81
This place is always delicious no matter when you come.
— It was so hard to keep my composure in front of those guys. Thanks to Muhyuk, I got to see a very interesting scene.
"Is that so?"
— Where did such a lucky guy come from? I used to have nothing to envy about the Chen family, but now I have something to envy. Ah, raising children doesn't go as you wish.
Chen Huizhang burst into laughter.
— Don't laugh. But are you really planning to step down completely?
"I still need my name to be useful to Muhyuk. I need to hold my position for a while. As for you, President Song, haven't you still got some lingering feelings?"
— Will they fight among themselves when I die?
"You are blessed... "
— President Chen.
"If you pass everything on before you die, it will still be difficult. The Daehyun Group is that complicated. Try to sort things out as well as possible without causing any complaints."
— I will.
After hanging up the phone with President Song, President Chen looked at the receiver for a long time before raising his head.
"Where is Muhyuk?"
"He said he will return today."
"Why did he go to Hong Kong?"
"I don't know the details, but he said he went to recruit someone."
Nodding, President Chen said in a low voice.
"We need to prevent Zhiyuan and Jishu from having any other thoughts. If they get greedy, it could lead to another bloodbath."
"I will keep a close eye on them."
"If Muhyuk tries to eliminate them after I die, you should try to stop him once, Minghun."
"......President."
President Chen waved his hand at the dark-faced Secretary Ha.
"It's history. Even if they don't pose a threat, it's not easy to leave them alone. Let alone those who are greedy."
"You are still in good health."
"I won't die immediately. But just in case. Understand?"
"......Yes, President."
"What about Suwan?"
"I've been told that he has started to resume external activities. He's also attending Korean gatherings and making new friends."
President Chen frowned.
"Is there any special movement?"
"No, he won't be a threat to the young master."
"You're worried about Suwan, not Muhyuk. You're afraid he might challenge Muhyuk without knowing his limits. How about Suhan?"
"......"
"Why? Speak."
"He needs to be moved to a mental hospital."
"Tsk......"
President Chen clicked his tongue but didn't order the move.
The decision was Muhyuk's. If he intervened, it would be like giving Muhyuk a reason......
"Have you found out what he's doing with the money in the U.S.?"
"Besides Han Kyungyeong managing it, I couldn't get much information. But I know he's made a lot of profit."
"I see. You can go now."
After Secretary Ha left, President Chen, alone in his study, stared silently out the window for a while.
His back looked more like that of an old man than the king of the loan market.
* * *
The bankruptcy of Hyunbo Group was also a burden to the government. A few days after the final bankruptcy, an investigation into President Jang began, and he was arrested the next day.
Separate from the Hyunbo scandal spreading to the political and financial sectors, the bankruptcies of large corporations continued.
In March, when the 26th largest conglomerate, Seomigroup, went bankrupt, the sense of crisis gradually intensified. Then, the statement by IMF Managing Director Camdessus provided the government with a good excuse.
'No Korean economic crisis.'
Camdessus' statement adorned the front page of the Korea Daily, and the economic crisis theory was being dismissed as a mere conspiracy theory.
In April, Prosecutor General Yoon Chang-ho, who was the Seoul District Prosecutor, was appointed as the new Prosecutor General.
"Congratulations, General."
"Hehe, I'm happiest when my juniors congratulate me."
A smile never left Yoon's face.
"Now, it's just a matter of smooth sailing."
"The atmosphere isn't good. There's a lot of talk about an economic crisis."
"How is the investigation into the Hyunbo Group going?"
"The hearing will be held soon. The Blue House will likely issue some orders then."
The Hyunbo scandal led to the arrest of bank presidents.
Seven former and current bank presidents, including those from First Bank and Chohung Bank, were summoned for investigation, and three were arrested.
Many politicians from both parties were investigated, and five were arrested.
The political sphere, facing a presidential election, plunged into a fog where one couldn't see a step ahead.
"Wasn't the president's eldest son also involved?"
"Hehe... Your information is really good. Although we don't know the VIP's intentions yet, it will be hard for him to avoid arrest. He took too much money."
It was the downfall of the man once called the "Little President."
"You must not remain just a mouthpiece for the Blue House. You need to think about the future."
"That's right. With the lame-duck period already here, why should I be cautious? Still, since they appointed me, I'll do what they want while also doing what I want."
This revealed Yoon's ambition.
"General, I believe this economic crisis will not end easily. Your role will be crucial. There will be a flood of economic criminals due to various corruptions and corporate bankruptcies. The pressure from the political sphere will also be intense. You need to stay focused."
"The economic crisis won't end?"
Yoon, eyes wide, nodded.
"Yes, it will get to the worst. Whatever you imagine, it will be worse. The economic sovereignty might be taken away like during the Japanese occupation. If you handle this well, you could even aim for the Blue House after your retirement."
"Haha. Even if it's just empty words, it's good to hear. I didn't know you could say such things."
Empty words.
When we first met, I didn't think that far, but with the current public support for Yoon, he could aim for the next presidency.
This presidency was a poisoned chalice, though.
"And I have a favor to ask."
"Go ahead. I'll do anything."
"I ask for an internal investigation into Jungwoo Group."
Jungwoo Group will collapse after 1998. But by then, it will be too late with too much debt.
The astronomical accounting fraud and slush funds are enough to undermine trust in Jungwoo Group.
We need to move the timing forward.
"Jungwoo Group?"
"Yes. There will be incredible embezzlement and breach of trust that can lead to immediate arrest. I'll let you know the timing for the summons."
"Hmm... It's a big burden. You know that, right?"
"I know. That's why I'm asking. But if you catch Jungwoo Group before it becomes a bigger bomb, it will be your achievement."
"Do you plan to take over Jungwoo Group? Do you have the money?"
"I'm not taking it. My friends are."
Yoon scrutinized me.
"Will it harm me? If you want to reach the Blue House, you can't afford any blemishes."
"Of course not. I'll pave a smooth path for you. Just walk it, and you'll become the owner of the Blue House."
You'll become the owner of the Blue House and my puppet.
"Understood. I'll start the investigation immediately."
"Make sure to use reliable people."
"Don't worry. You know who I mean."
The prosecutor who went to Jeju District Prosecutor's Office.
"Did you bring him back to the Supreme Prosecutors' Office?"
"Despite opposition, I put him in a key position in the special investigation unit."
"He's reliable. He always exceeds expectations."
"Now his path will be smooth."
Indeed. Even now, all politicians from both parties are sending him love calls.
"Fill the Supreme Prosecutors' Office and Seoul District Prosecutor's Office with your people. Don't share absolute power. The era of unprecedented power for the prosecution is coming."
The prosecution, called the government's dog, but with Yoon, he can withstand the pressure and meet my demands.
"Understood. Let's eat."
As Yoon picked up his chopsticks, I did the same.
After a warm meal, Yoon stood up first.
"I've put three boxes of apples in the trunk. They're clean, with no pesticides, so you can eat them without washing."
In the trunk of Yoon's official car, there would be three boxes of apples, filled with ten-thousand-won bills, moved by Manager Ma.
"Always grateful."
After meeting with Yoon, I began preparing for the post-IMF era step by step.
"Grandfather, I have a favor to ask."
"A favor?"
It had been a long time since I had a private meeting with my grandfather.
"Yes, a favor."
"Hehe... What is it that you're making such a serious face for? You're making my heart race."
Now that he has let go of everything, his expression has improved, and he even makes jokes sometimes.
I never saw this side of him in my previous life.
"Next year, the interest rate cap law will likely be abolished."
"What?"
My grandfather's voice grew louder.
It was that surprising.
"There's a high probability that it will be abolished. When that happens, a lot of Japanese money will flow in. Korea's crisis has always been an opportunity for Japan."
After the liberation, the Korean War opened up Japan's breathing space as a defeated nation.
At that time, Japan achieved explosive economic growth with support from the U.S. and the Allied forces.
Japan's current prosperity has ended, and it is now entering a period known as the "Lost 20 Years."
Korea's economic crisis will be another opportunity for Japan.
"The Cheongpung Association will move."
Next year, with the abolition of the interest rate cap law, the Myeongdong loan market will fall into chaos.
Illegal loan sharks will proliferate, and Japanese-funded money, backed by the Cheongpung Association, will eventually dominate half of the loan market.
The Cheongpung Association will enact the Loan Business Act to eliminate competitors.
However, the law will not be established until 2002. We need to move this up. We need to establish the Loan Business Act before the loan market falls into chaos.
I don't want to give them any opportunities.
"Grandfather, it would be good if you could support this law to ensure its quick passage."
"What? Why?"
My grandfather looked puzzled.
In a situation where the interest rate cap law is being abolished, it would be hard for him to understand why we would want to create a law that limits interest rates.
"It's an opportunity for us, but also for the Cheongpung Association. I don't want to give them any small openings. Using Hyeongseong, who is a double-edged sword and a friend, I plan to establish legal loan companies in Myeongdong and offer loans at lower interest rates than them. I will manage the underground loan market using snakes."
"Hmm......"
"Even without an interest rate cap, companies won't borrow money at high interest rates. The interest rate cap law or the Loan Business Act is useless in transactions with large corporations. The main customers are ordinary people and small and medium-sized enterprises. Large corporations can be managed separately. As I said, they will bow before you again."
I plan to place Hyeongseong as the representative of the holding company above multiple loan companies.
I will entrust the practical work to Kim Hosik, the CEO of Double Blade, and assign each loan company to his subordinates and experienced people from the Myeongdong loan market.
I tried to persuade my grandfather, who couldn't let go of his lingering feelings, again.
"Grandfather, if we miss this opportunity, it will be difficult to check the Cheongpung Association. They will gain strength from the Japanese money. We need to introduce variables to their plans before that happens."
I will create a situation favorable to me by slightly advancing the timing, different from the original history.
I can't miss the opportunity to take the lead without giving them any small openings or opportunities.
I don't need to repeat the same failures.
"I ask you, Grandfather."
My grandfather was silent for a long time.
Having spent his life in the loan business in the shadows rather than the light, it would be difficult for him to make a quick decision, even to check the Cheongpung Association.
I waited quietly for his answer.
"Alright. I'll do as you wish."
In the end, my grandfather agreed to my request.
< This place is always delicious no matter when you come. > End