Chapter 20
Chapter 20
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Translator: Vine
Chapter: 20
Chapter Title: A Partnership
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“The bidding results for Case Number 1998-610081 are…”
Two hours after the auction began, I was declared the final winning bidder.
Then again, since I was the only bidder in the first place, it was only natural.
Still, the unnerving question was whether the bank would truly waive its right to object.
I probably wouldn’t be able to rest easy until the deadline for filing an objection had passed.
“Good day, Chairman Han Myung-ho. My name is Lee Jae-ho, head of the legal team at Jeil Bank. Do you perhaps remember me?”
Just then, someone from behind addressed Chairman Han Myung-ho.
The man, who clearly looked like a white-collar professional, bent at the waist in a near ninety-degree bow the moment Chairman Han turned around.
“Of course, I remember. But what brings you here?”
“The property’s location is so prime that I came wondering if you might make a move, Chairman. It seems my guess was correct.”
“So, are you here to file an objection?”
“Not at all. If you’re the one involved in this auction, Chairman, what would be the point of us being stubborn? I just spoke with the bank president, and he asked me to ensure you were troubled as little as possible.”
His words meant the bank was forfeiting its right to object.
What a spectacle.
It was hard to believe this was the same bank that would do anything to avoid losing even a single penny when dealing with ordinary people.
“Please give my thanks to the bank president.”
“I will do so. Sir, but… did you use a proxy this time instead of bidding directly?”
The man said, glancing at me.
His gaze felt vaguely unpleasant, and I subtly furrowed my brow. The quick-witted Chairman Han spoke up on my behalf.
“He is not a proxy, but my business partner. We plan to participate in auctions together often in the future, so it would be best for you not to make such verbal slips.”
“Oh, my. I apologize. It’s just that he’s so young… I look forward to working with you.”
The man finally adopted a deferential posture.
Yet, the way he kept glancing me over suggested he was quite curious about my identity.
“Let’s just take my car.”
After leaving the auction house, Chairman Han asked me to accompany him.
Wondering what else he had to say, I set aside my curiosity and got into the car. As expected, he broached a topic.
“About the property you won. Are you planning on holding onto it?”
“I’d like to, but it seems best to sell it for now.”
“Not a bad idea. You won it at such a low price, you’ll see a considerable profit even if you sell it immediately.”
“Yes. Thank you, Chairman, in more ways than one.”
“Don’t mention it. I told you, I can’t stand being indebted. By the way, just as you said, Kim Pan-woo siphoned quite a lot of money overseas. The madman. To think his own employees haven’t been paid in months…”
“So, what have you decided to do?”
“I have to get my money back, of course.”
“Will that be possible? He must have already hidden a substantial amount.”
“You don’t need to worry about that. I know how to collect money better than anyone.”
That must be how he had amassed such wealth.
In short, a loan shark was still a loan shark.
Even with the title of Chairman, it would be a mistake to forget that he was a man who could become a devil in the worst-case scenario.
“Why the long face? Am I suddenly scaring you?”
“Not at all.”
But there was no reason for me to fear him.
Not only would I never be in a position to borrow his money and fail to repay it, but if a moment came when I needed capital, I would make him invest, not lend.
Honestly, as an investor, he would be a more solid backer than any bank.
“You say that, but your expression says otherwise.”
“…”
“I’m just saying this in case, but I’m not some neighborhood thug who resorts to physical harm over unpaid debts. I just know how to recover my loans within the bounds of the law without taking a loss.”
His attempt to explain himself was somehow amusing.
It was as if he were worried I might distance myself from him.
Just as I was about to smile to clear up the misunderstanding, he suddenly posed a meaningful question.
“By the way, do you happen to need a large sum of money these days?”
“…What makes you think that?”
“I got that feeling when you jumped at my auction proposal. Plus, your face is plastered with a hunger for money.”
I had no desire to deny it.
From the moment I heard the word “auction,” I had been completely gripped by a desire for money.
In an era of economic crisis, especially for someone who knew the future, was there any more stable and certain path to profit than auctions?
“Can you tell that from reading my face?”
“It’s not face-reading, I’m just observant. So why do you need the money? To increase your stake in Thales?”
“…”
“No need to react like that. It’s an inevitable part of life in any chaebol family with multiple siblings. Besides, it’s no crime for someone as capable as you to have such ambitions.”
His insight was astounding.
As I responded with a dry laugh, he continued suggestively.
“How about I give you a hand?”
“…”
“There’s no need for any other method; building your assets through auctions like we’re doing now is a good path. Of course, it’s not for free. For as much as I help you, you’ll naturally have to give something in return.”
I had foreseen this situation.
The benefit I had received was far too great to be a simple repayment for a favor.
The favor he had shown me was clearly bait, and the reason I took it was that I was curious about what would follow.
Just like now, I wanted to know what he truly wanted from me.
“What do you want?”
“…”
He feigned a thoughtful expression.
A moment later, a sly smile appeared as he brought up my research institute.
“I hear the research institute you founded is doing some pretty interesting things these days.”
“…”
“Are you willing to sell me a portion of its shares?”
“I would welcome a pure investment, but my research institute is not for sale.”
I didn’t know how he’d found out about it, but that was out of the question.
Perhaps later, but who would be foolish enough to give away shares during a period of explosive growth as it produced results?
Seemingly not expecting a refusal, Chairman Han looked awkward. I then nonchalantly uttered something that might have seemed unrelated to the topic.
“By the way, it’s a scary world to be lending money to people these days, isn’t it?”
“…”
“And I’m sure you’ve provided loans to quite a few companies in the midst of it all.”
“I have. But why are you suddenly bringing that up now?”
“Give me that list. Based on the information I have, I can help you avoid companies that are likely to become insolvent in the future. That is the consideration I can offer you.”
“…”
He was probably doubting how that could possibly be a fair trade.
But in an era where one couldn’t see even a step into the future, was it an easy thing to be able to invest while avoiding losses?
Anyone with a brain would have no reason to refuse my offer.
“How can you do that? Are you aware that even profitable companies are going bankrupt left and right? It’s a chaotic era where you can’t predict a company’s future just from financial statements or inside information.”
“That’s why you need my information even more. The case of Chairman Kim Pan-woo is proof enough, isn’t it?”
“…”
“Honestly, not just you, but even the National Tax Service was unaware that he was smuggling assets overseas, correct?”
“…”
His eyes were filled with confusion.
He couldn’t outright deny it, given the example of Kim Pan-woo, but he also lacked enough proof to trust me completely.
As expected, he slowly began to shake his head.
“Then how about this? In about a week, Hanseo Group will ultimately declare bankruptcy. If that turns out to be true, we can talk again then.”
“…”
******
[This morning, Hanseo Group was officially declared bankrupt. The government had considered placing several affiliates, including Hanseo Construction, under court receivership, but concluded that further support would be meaningless due to excessive capital impairment and insolvency.]
Exactly one week later, my prophecy became reality.
Chairman Han Myung-ho, who had already heard the news, summoned me again. In his hands were loan records equivalent to ten notebooks.
“How on earth did you know Hanseo would go bankrupt? Even government agencies were wavering, unable to reach a conclusion until just recently.”
“Telling you that would be the same as revealing my information sources, wouldn’t it?”
“…Fine, I won’t ask. For now, I accept your proposal.”
As he spoke, he handed me the file folder he was holding.
It was the moment his investment portfolio, possibly worth trillions of won, was revealed.
Even though I had been confident, I couldn’t help but feel a tremor of nervousness.
“If you can pick out the companies with a high probability of future insolvency from this list, I will, as promised, actively support you from now on.”
“I’ll do my best.”
As expected, the list I received was enormous.
The amounts ranged from a few hundred million won to as much as several hundred billion.
The list of 186 companies was enough to make my head spin.
“Hmm…”
The fact that the investments were all over the place was also a problem.
While it’s true that loan sharking doesn’t discriminate by industry as long as there’s a need, this list was excessively inconsistent.
In the end, I boldly cut out companies in declining industries and those with uncertain futures, narrowing the investment list down to roughly twenty.
“Nexol? I don’t remember lending money to a company called Nexol.”
“That’s a place I’m recommending you invest in, should you become interested.”
“Are you telling me to invest in a company I’ve never even heard of?”
He looked at me, dumbfounded.
What was different, however, was that unlike before, he didn’t immediately show a look of disbelief.
“For the record, you should think of it as investing in a person, not a company. In other words, you need to take a long-term view.”
“How long-term?”
“At least ten years. No, just think of it as money you’re throwing away and leave it for about twenty years.”
“Twenty years? Do you know how old I am? Do you think I’ll still be alive then?”
“You seem to have misunderstood. I’m recommending something for your daughter to harvest, not you, Chairman.”
He flinched.
For a moment, his wavering pupils stilled, and then a grin spread across his face.
“An investment for the next generation… You’ve caught me off guard. Anyway, tell me about this person. I need to know before I can make a decision.”
“His name is Seo Jung-hwan. He’s a former planning and finance advisor at Taewoo Motors. No matter how much I explain, it won’t mean much. I recommend you meet him in person.”
The outcome of their meeting was none of my business.
But if Chairman Han decided to invest in him, the returns his descendants would reap in the future would be beyond imagination.
Celltrion, which would become the nation’s top biosimilar company in the future.
Its predecessor was Nexol.
“Alright. If you’re the one recommending him, I’ll meet him.”
Contrary to my expectations, he readily agreed.
With that, my end of the bargain was complete.
Now it was my turn to get an answer. As I gave him a look, he abruptly held up ten fingers.
“What does that mean?”
“I will help you with exactly this many short-term, high-yield auctions.”
“…”
“Why, do you think that’s not enough?”
“It’s not that it’s not enough, I just can’t calculate how much profit that will bring me.”
“Hmm… how much liquid capital do you have right now?”
“Let’s see. If I sell the building I just won at the current market price, it should be about 50 billion won, and I have about 26 billion in additional liquid funds.”
“Then the answer is clear. With that much capital, your assets will grow to at least 200 billion won.”
“200 billion?”
At current prices, 200 billion won was enough to secure a 6 percent stake in Thales.
That would instantly make me the second-largest shareholder.
Of course, if the smart shell was realized in the meantime and the stock price skyrocketed, the calculation would change. But even in the worst-case scenario, I’d be able to secure at least 3 percent.
“At least 200 billion. It could be more, depending on the circumstances.”
Even in an era where money begets money, I felt that was a bit of an overstatement.
But looking at his confident expression, it didn’t feel entirely like a joke.
Meeting him was truly a stroke of heaven-sent luck for me.
“It’s a shame you only have ten fingers, Chairman.”