Chapter 159
Chapter 159
Chapter 159. The Witch and the Lion of the Loan Shark Market
Kwak Chi-young, the Korean branch manager of TSF Investment, was traveling by car.
“Any news from China's MSS yet?”
MSS (Ministry of State Security) referred to China's intelligence agency, the Ministry of State Security.
To that question, Oh Han-sung replied, turning his head slightly from the passenger seat.
“Given that it's a sensitive issue on their end, it seems confirmation is taking a while.”
Kwak Chi-young had sent some of the UAD data he recently acquired to the Chinese government. Since some of the data was corrupted by the deletion program, it was only enough to raise suspicions on their end.
Of course, he judged that it was sufficient, as the content alone was sensitive enough.
“It’s about stealing South Korean military secrets and attempting to pass them to North Korea, resulting in an assassination. It’s bound to be sensitive.”
“Should I contact them again, just in case?”
“No. There’s no benefit in showing that we’re rushing them.”
“Then I will wait.”
After a moment of silence, a message appeared on Oh Han-sung’s phone.
This made Kwak Chi-young tilt his head.
“…What is it?”
Ever since last time, whenever Oh Han-sung received a call from someone, something bad had happened.
“It’s a message from the subordinates tailing Irene.”
“What is it?”
“They report that Irene has arrived at Incheon International Airport.”
Kwak Chi-young felt a sense of foreboding.
“…What? Why is she there?”
Oh Han-sung immediately made a call to confirm the details. The call, which didn’t take long, ended, and he explained.
“It seems she’s trying to leave the country.”
“She’s leaving at a time like this?”
From Kwak Chi-young’s perspective, it felt like Irene and the Oculus Fund were toying with him before making their escape.
“…It appears so.”
“Haa—!”
“What should we do?”
Kwak Chi-young let out a groan.
“What can we do now? Should we blow up the plane?”
“No.”
Vrooom— Vrooom—
Just then, another message arrived on Oh Han-sung’s phone.
“What is it this time?”
“Information about Irene’s bodyguards has come in.”
“Where is it from?”
“It says FEROX. They seem to employ the most skilled individuals from Europe, where their headquarters are located.”
Kwak Chi-young had heard of FEROX’s reputation.
“Just the fact that they’re so thoroughly prepared for danger shows they knew exactly what they were doing.”
“Should we deal with it after she leaves? It would be easier overseas than in Korea.”
“Have we confirmed where Irene is going?”
Meanwhile, Oh Han-sung had sent instructions via message.
Vrooom—
“Her destination is Dubai International Airport.”
At that moment, Kwak Chi-young was reminded of Samir Jiran Kurdi, the TSF Middle East and Africa branch manager he had met in Eritrea, and felt displeased.
“Why is that woman going there?”
It was difficult for anyone to know why Irene was going to Dubai.
Simultaneously, Oh Han-sung could guess why Kwak Chi-young’s mood had soured. He therefore added no further words and waited quietly.
“……”
After a moment of silence, Kwak Chi-young spoke again.
“There’s no benefit in unnecessarily provoking the Middle East, so let’s stop tracking Irene.”
“…Understood.”
They arrived at S1 Finance during their conversation. Of course, Kwak Chi-young couldn’t easily shake off his troubled feelings.
Upon entering the chairman’s office, Yoo Ji-young was waiting with a slightly pleased expression.
“Seeing as you’ve arrived right on time, TSF must be quite desperate.”
“I usually keep my appointments, so don’t be sarcastic.”
The two sat facing each other on the sofa.
Perhaps having heard a summary of the situation, Yoo Ji-young’s expression was full of ease. Moreover, it seemed to contain a hint of contemplation on how to manipulate Kwak Chi-young.
“So, how much of a capital shortage does TSF have that you’re asking me for funding?”
Kwak Chi-young’s complexion darkened at the question.
“400 billion won. Is it possible?”
Yoo Ji-young’s playful expression vanished in an instant.
“…You need that much?”
When he was first hinted about the funding, he had thought it would be at most around 100 billion won, no matter how much it was.
Kwak Chi-young let out a long sigh.
“It needs to be prepared within two months at the latest.”
“Honestly, it’s not an easy sum.”
“That’s why I came to you, Chairman Yoo Ji-young of S1 Finance. You’re one of the top individuals in the country for cash mobilization.”
Yoo Ji-young couldn’t help but sigh as well.
“To be frank, it’s a difficult amount even for me. It’s not impossible, of course, but we would need collateral that would reassure us.”
It was a staggering 400 billion won. Naturally, lending such a sum without anything in return was impossible for S1 Finance.
As if he had expected this, Kwak Chi-young presented the envelope he had been holding from the start.
Upon receiving it, Yoo Ji-young’s eyes widened slightly as he checked the contents.
“1.62 million shares of MH Electronics, 3.6 million shares of MH Foods. At current stock prices, the total is just under 300 billion won. There’s also real estate, but estimating its market value, it’s unlikely to reach 50 billion won.”
The stock price of MH Electronics was recovering as the LAOJIA situation was being resolved. On the other hand, MH Foods had not been fully settled, and the initial damage remained significant.
Of course, these shares were not all Kwak Chi-young had. He had accumulated more shares from two incidents and the events surrounding Myung Joong-hwan’s downfall, but there were many parts he was reluctant to liquidate entirely.
“The stock price of MH Electronics is already surpassing its recovery and is expected to surge beyond its previous highs soon, so that shouldn’t be a problem. And between us, that amount shouldn’t be an issue, right?”
Yoo Ji-young’s brow twitched.
“Weren’t all matters between us settled with Baeseong Corporation? Although TSF still faced unfavorable circumstances despite that.”
His tone was deliberately provocative.
Kwak Chi-young’s veins bulged on his forehead, but he had no choice but to endure it, given his disadvantageous position.
“It was a significant miscalculation due to the ledgers. However, we’ve resolved most of the issues.”
“After handing it over to DAX, wasn’t it MH Future Security’s CEO Baek Shin-woo who ultimately benefited from that deal?”
Kwak Chi-young had much to say about that situation as well.
“That was CEO Baek’s reckless move to try and beat his maternal uncle, Myung Sung-chul. Honestly, if not for that reason, why would he have poured over 1 trillion won into Baesung Distribution, which, no matter how high, shouldn’t have exceeded 800 billion won?”
Yoo Ji-young had also heard about the situation at the time through his network in the distribution market. Pouring in an additional 200 billion won more than the highest bid for Baesung Distribution, a company that should have gone bankrupt, was indeed astonishing.
“I am aware of that. They even underwent voluntary prosecution investigations and accounting audits afterward, causing quite a stir. But after receiving additional investment, MH Distribution’s image certainly improved, didn’t it?”
That was a development Kwak Chi-young hadn’t anticipated.
“Truly remarkable skill. In any case, you will prepare the funds, won’t you?”
Yoo Ji-young thought for a moment and then said,
“On the condition that the annual interest rate is 15%.”
“That’s three times the current corporate loan interest rate at banks.”
“I’m not finished yet. The term is 4 years. The repayment method will be equal monthly installments of principal and interest. We can’t just lend it out without any conditions.”
Equal monthly installments of principal and interest is a repayment method based on annual or monthly payments.
At 400 billion won with a 15% interest rate, the monthly repayment, including principal and interest, would be approximately 11.1323 billion won for 4 years.
“Isn’t this too unreasonable?”
“If you don’t like it, feel free to knock on the doors of a bank.”
However, Kwak Chi-young had already secured funds from various banks.
Naturally, Yoo Ji-young, running a financial company, was well aware of this fact through banks. So, he deliberately pushed further to provoke him.
“But 15% is too excessive. Make it 10%. And the payment method will be monthly interest payments only, with the full principal due at maturity. The term, however, will be 2 years.”
From S1 Finance’s perspective, a condition where the principal is returned quickly was not bad.
“Can you manage to secure 400 billion won within 2 years?”
“Easily.”
“Hmm……”
Under the current terms, the interest alone would be 80 billion won over 2 years. Furthermore, even if problems arose, with approximately 350 billion won in stocks and real estate as collateral, there was little to worry about.
“What happens if I refuse?”
It was a simple question out of curiosity.
Kwak Chi-young stared at Yoo Ji-young with chilling eyes.
“They say a cornered rat bites the cat. But what do you think happens when you corner a lion?”
The atmosphere between the two suddenly turned so cold it sent shivers down their spines.
Yoo Ji-young understood the implication and let out a groan followed by a long sigh.
“I apologize. I think I asked a foolish question.”
The primary reason Yoo Ji-young was able to become the chairman of S1 Finance was due to Kwak Chi-young’s help. He had intervened and dealt with the former chairman Ahn Geun-seok and his son, Yoo Ji-young’s husband, Ahn Byung-in, simultaneously.
He had immediately retracted his words, as the thought that he might be next was terrifying.
“It’s fortunate you understood so quickly.”
“If one is old, one should at least be quick-witted. I will prepare the 400 billion won within two months. However, will it be all cash? Or a wire transfer?”
“Whichever is more convenient for you.”
“It’s not that I asked needlessly, but that much capital isn’t fully laundered yet. So, if we hand it over in cash, it’s easier for us. However, if a wire transfer is needed, we’ll have to launder it further and move it to a shell company or an account under a different name, which is a bit cumbersome.”
Kwak Chi-young pondered which would be better.
“Even if it’s a bit cumbersome, let’s go with a wire transfer. We will prepare and provide the necessary shell company information.”
“This is going above and beyond our usual services.”
“If this matter is resolved successfully, it won’t be a bad thing for Chairman Yoo either.”
“It would be fortunate if that were truly the case.”
As their conversation continued, Kwak Chi-young raised a slight question.
“Can you tell me where the funds are being sourced from?”
“Since when have you been interested in such matters?”
“Stability is important this time, so please tell me.”
Yoo Ji-young sensed that Kwak Chi-young was more sensitive than usual. Given the recent threat and his evident concern, he couldn’t help but reveal it.
“…As Director Kwak is aware, about half will be drawn from the loan shark market. The rest is our own capital.”
“Laundering the funds from the loan shark market will be the most crucial part. Please handle it with care.”
“You don’t need to worry.”
“I’m counting on you.”
Kwak Chi-young finished his conversation and left S1 Finance.
Oh Han-sung, who had been waiting by the door, approached him.
“Was it resolved successfully?”
“Fortunately. More importantly, let me know as soon as there’s any news from the MSS. Now that this troublesome issue is nearing resolution, I think I need to use it as leverage to shake CEO Baek Shin-woo a bit.”
At his mumbling, Oh Han-sung showed a worried expression.
“If the information proves true, the MSS won’t stand by idly before we can use it.”
“There will be some movement. Whatever it is, it will impose restrictions on Baek Shin-woo’s actions.
Kwak Chi-young began to envy Baek Shin-woo’s smooth success. At the same time, he felt that if he could bring Shinwoo down in some way, the current momentum might at least slow down.