Chapter 21
Chapter 21
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Translator: Vine
Chapter: 21
Chapter Title: A Strategic Concession
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A week had already passed since I joined forces with Chairman Han Myung-ho for our mutual benefit.
As if to prove his own words that trust is everything, he recommended a property to me in just three days.
Two days later, he announced his involvement to the community of heavy hitters who dominated the auction market.
'So, it's a system where all you have to do is control the major players?'
Through this series of events, I realized that the real estate auction system of this era was excessively controlled by a select few.
By the likes of Chairman Han, the three titans of real estate, and the major players who fed off them.
Of course, there was cooperation and conflict among them, but they always banded together when faced with outsiders.
'How absurd. It was clearly a corrupt practice, yet, ironically, it prevented an excessive outflow of national wealth.'
That point was quite ironic.
Even though dominating the auctions was an illegal act, I couldn't entirely condemn it.
While they did distort parts of the real estate market, it also meant the country wasn't fleeced by foreign speculative capital, unlike the financial market.
Strictly speaking, it was a case of the bad driving out the good, but in the end, the 'bad' ended up helping the country.
'Then again, when you consider the financial sector, which was devoured by hyena-like foreign speculative capital...'
The financial world of this era was, for all intents and purposes, a playground for foreign capital.
Japanese funds, armed with the yen carry trade, swiftly seized control of the nation's consumer finance, later causing massive insolvency and plunging the economy into another crisis.
“Department Head!”
Just as I was lost in thought, Secretary Kim burst in.
She looked as if something terrible had happened.
Worried that something might have gone wrong at the factory, I looked at her with alarmed eyes, and she belatedly showed a look of regret.
“I-I’m sorry. I was just so eager to tell you the news as quickly as possible….”
“What is it?”
“I heard that Senior Managing Director Jin Hyun-cheol is transferring to Aerospace. Did you already know?”
“…”
A wave of bewilderment washed over me.
Regardless of whether it was true, the fact that a mere secretary knew about a group personnel change that I, myself, was unaware of was certainly problematic.
As if sensing my expression, Secretary Kim quickly added an explanation.
“Actually, I heard it through the Chairman’s secretarial office. Apparently, there was a sudden emergency meeting at the group headquarters yesterday. And Senior Managing Director Jin Hyun-cheol’s future was on the agenda….”
“Why would my brother’s future be a topic for an emergency meeting?”
“I don’t know the details either. All I know for sure is that the Senior Managing Director volunteered for the transfer himself….”
If that was true, it wasn't a situation I could simply rejoice over.
He wouldn't abandon his executive position at the holding company and move down to a subsidiary without a purpose.
I thought he’d been unusually quiet lately. It seems he’s plotting something.
“Don’t tell me he’s trying to develop a fighter jet engine.”
That was a strong possibility.
Feeling threatened by me, Jin Hyun-cheol would need a bigger play.
Moreover, Jaewoo Aerospace was the licensed manufacturer of the KF-16 engine.
Since they already had a structural understanding of the engine, it wouldn’t be strange for them to dream of such a thing.
“Tsk…”
But it would end up being a reckless endeavor.
Even in 2025, just before I returned, there were only three or four companies in the entire world with reliable engine manufacturing technology.
In that context, was it even plausible for Jaewoo Aerospace, which lacked the technology to produce proper turbine blades, to surpass them in a short time?
Of course, if I, who participated in the 5th-generation fighter development project, were to get involved, it would be a different story. But that’s only possible with a substantial budget.
“Even so, I can’t just ignore it. Moving to what is essentially a dead-end position to try something proves he hasn't given up yet.”
“You’re right.”
Secretary Kim responded to my muttering.
I let out a dry laugh and looked at her, and she suddenly brought up something out of the blue.
“By the way… if the Senior Managing Director leaves Thales, who will take his position?”
“I don’t know. The group will decide that in a meeting. Whoever comes, we just need to focus on our own work.”
“Do you think you might get a promotion, Department Head?”
Secretary Kim subtly revealed her hopes.
Honestly, it would be a lie to say I wasn't hopeful.
But such a drastic personnel change would surely cause a lot of noise.
“I doubt it. It’s only been a few months since I became the Head of the Policy Department… Anyway, I’m heading to the courthouse, so you can head home for the day, Secretary Kim.”
“Going to enjoy your hobby again today, I see?”
She always referred to my participation in auctions as a hobby.
Was it because it was the only thing I, who usually lived like a hamster on a wheel, pursued with sparkling eyes?
I was just doing it because I had the time, and as a means to an end. But from her perspective, it must have looked like I was pouring my passion into it.
“Calling auctions a hobby is a term better suited for someone like Chairman Han Myung-ho.”
Leaving her with a slight smile, I left the office.
The courthouse was about thirty minutes away.
The property up for auction today was in such a prime location that my heart wouldn’t stop pounding the entire way there.
'Cheongdam-dong intersection. If I can win the bid, I could aim for a capital gain of at least five billion won.'
***
“Welcome.”
Chairman Han Myung-ho was already seated when I arrived at the auction house.
Although there was a large crowd, they were surely just hustlers aiming for the smaller properties.
The seats around Chairman Han, however, were all empty, as if it were an untouchable domain.
“What’s with that expression?”
Up close, Chairman Han’s demeanor seemed very different from usual.
It was the look of someone about to say something they’d rather not.
A bad feeling crept over me, and then, unexpected words came out of his mouth.
“I’m sorry to say this on our very first auction together, but it seems we’ll have to give up on today’s property.”
“…”
“Don’t look at me like that. I’m not thrilled about it either. It was a request from a very close acquaintance, so I couldn’t refuse.”
He said this with a sigh and gestured with his chin toward one side of the auction house.
Putting aside the question of 'why,' I turned my gaze and my eyes met with a middle-aged man surrounded by men in dark suits.
“Are you referring to that gentleman over there as your acquaintance?”
“That’s him. He was already here waiting when I arrived this morning.”
“Who is he?”
“Chairman Lee Gi-ho. He’s known as one of the three real estate titans of this country, along with me. For your information, the men next to him are probably from an intelligence agency.”
“Why are intelligence agents at an auction with a real estate tycoon?”
“I don’t know the reason. All I know is that he sometimes acts as a fixer for the intelligence agencies, handling their secret affairs behind the scenes.”
At his words, I looked back at the middle-aged man.
Had he been watching me this whole time?
Our eyes met, and the man slowly rose from his seat and approached us.
“Is this young man the second son of Jaewoo Group you mentioned, Chairman?”
“What’s it to you?”
Chairman Han’s attitude toward the man was blunt, almost excessively so.
He was clearly acting this way for my sake.
Despite this, the middle-aged man—no, Chairman Lee Gi-ho—didn’t lose his smile. He gently extended his hand toward me, and I shook it without thinking.
“A pleasure to meet you. I’m Jin Hyun-seung.”
“I’ve heard a lot about you from Chairman Han. I hear you have a remarkable eye for the future?”
“…”
“Anyway, I’m sorry to ask this, but I was hoping you might concede the property up for auction today.”
“What’s the reason?”
For a moment, Chairman Lee Gi-ho’s face stiffened.
He probably didn’t expect me to question him so directly.
But I was more than entitled to an answer.
“That’s classified information, so I’m afraid I can’t tell you. Instead, if there’s ever anything I can help you with in the future, I’ll gladly lend my support. So, could you please concede just this once?”
His tone was extremely polite.
The demeanor of the men watching me from behind wasn't particularly coercive either.
It seemed their intention was to receive a concession, not force me to give up under pressure.
“Uh… Chairman, it doesn’t have to be this one….”
Just then, a man who had been fidgeting nervously among the group spoke to Chairman Lee Gi-ho.
Unlike the others, he was dressed like an ordinary middle-aged man.
I was sure I’d seen his face somewhere before, but I couldn’t quite recall where.
“Ah! This is Mr. Kim Chi-soo. He runs a small trading business with Russia. It’s a bit much to say, but he’s the reason I’m asking you to concede. He’s done something very important, but he was never properly compensated for it.”
Noticing my gaze, Chairman Lee Gi-ho immediately introduced the man to me.
Along with a supplementary explanation that was, at first glance, incomprehensible.
In truth, who could guess the man’s identity from that description? But, as it happened, those words were as good as an answer key to me.
“Mr. Kim Chi-soo… you don’t mean CEO Kim Chi-soo of Daehan Trading, do you?”
For a moment, Chairman Lee Gi-ho looked utterly startled.
And he wasn't the only one; Kim Chi-soo, who had been hesitating beside him, was just as shocked.
He stared at me, flinching as if he’d been caught in the middle of a crime.
My goodness!
Seeing that expression, I finally remembered clearly.
“Y-You know me?”
I didn't just know him; to me, he was a hero.
He was the living proof of this country’s cruise missile development history.
If he hadn’t secretly imported their cruise missiles through the corrupt Russian military.
And if the ADD hadn’t obtained the crucial starting point for cruise missile development, this country’s missile technology would likely have been set back by at least a decade.
“Ah, well…”
What was unfortunate was that his end wasn't a happy one.
The established theory was that his business failed due to retaliation from a furious Russia over the illegal missile leak, and he never received proper compensation from his own country.
But was that just a rumor?
It seems the state’s compensation was being delivered in this manner after all.
[Attention everyone in the hall. The auction for case number 1998-Ta-80881 will begin shortly….]
Just as I was about to respond, an announcement signaling the start of the auction came from the speakers.
It was time to decide whether to participate.
All eyes in the room turned back to me in an instant. I looked at Chairman Lee Gi-ho, who was still cautiously watching me, and declared,
“Fine. I’ll concede.”
“That’s very gracious of you.”
“On one condition.”
The look of relief on Chairman Lee Gi-ho’s face vanished, replaced by a tense expression.
No need to look at me like that.
Did you really think I would give up without getting anything in return?
A national hero is a national hero, but you still have to compensate me for my loss.
“Can I trust your word that you’ll help me if the need arises?”
“Of course. Anything within my power.”
“Then introduce me to the person in charge of the second Brown Bear Project.”
“…”
The Brown Bear Project was an initiative formed to recover the economic cooperation loans we had provided to the former Soviet Union, with repayment made in kind.
The important point here was that the 'in kind' payment consisted mostly of weapons like tanks, armored vehicles, and man-portable air-defense systems.
Thanks to this, our country was able to dissect and analyze these weapons, acquiring their core technologies.
Despite subsequent discord involving follow-up investments, mutual technology exchanges, and pressure from the West, it was a fact that the project contributed immensely to the development of our nation’s defense industry.
“You’re not going to tell me you don’t know, are you?”
Circumstantially, it was clear that Chairman Lee Gi-ho was connected to the Brown Bear Project.
The history of our country’s missile development and the Brown Bear Project were inextricably linked.
It was only natural to be suspicious, especially considering his current position, arranging compensation for Kim Chi-soo on behalf of the state.
“Well, I have no idea what you’re talking about.”
Pfft.