The Money-Crazed Demon
Dan Il-gyeong was a displaced person from the North.
Born the son of a poor farmer in Haeju, Hwanghae Province, he had come alone to Seoul during the Japanese occupation and made his living as a merchant. In the Myeongdong market he had tried everything from rice deliveries to brassware, and once he had accumulated capital he began lending money to the surrounding merchants, diving headfirst into the private loan market.
In an era when monthly interest of thirty percent was commonplace, Dan Il-gyeong kept a measure of conscience of his own. Building trust that way, he came to be called the greatest cash king of Myeongdong right after liberation.
After the war, as the scale of money grew, his clients naturally shifted from individuals to corporations. He specialized in lending against collateral to companies that needed cash, and invested every won he earned into real estate in Myeongdong and Gangnam, rising all the way to become the foremost real-estate tycoon in the Republic of Korea.
It was said that virtually no one who ran a company had never borrowed from Dan Il-gyeong—so much so that never having borrowed from him was practically synonymous with having failed to grow into a major enterprise.
The financial pawnshop of the business world.
There was even a saying that if you needed emergency funds, you should go to Dan Il-gyeong rather than a bank. That man, who had long served as the money window of the business community, now appeared before Kim Seong-ho.
"I've heard the stories about you playing money games with corporations. I wanted to see for myself what kind of bastard had the nerve to stick his spoon into my rice bowl."
Kim Seong-ho bowed his head toward Dan Il-gyeong and spoke.
"I apologize. I had no intention of encroaching on your business, sir. I only helped out of a sense of camaraderie. But if that has angered you, allow me to apologize once more. I am truly sorry."
Seong-ho bowed with genuine sincerity, but what came flying back was a snort laced with mockery.
"Hmph. Camaraderie? You're as shameless as I am."
At Dan Il-gyeong's sarcasm, Jo Chung-sep's face, seated beside him, flushed red. But the man himself, Kim Seong-ho, did not so much as change expression.
Dan Il-gyeong studied Seong-ho with an intrigued gaze—this man who, knowing full well what those words meant, still did not alter his face. Then he pointed his cane at the building owners seated across from them and said to Seong-ho,
"They seem to have arrived first, so let's deal with them. We'll talk separately afterward."
"Yes. Of course."
Without asking what that talk would be about, Seong-ho immediately turned his attention to the building owners.
"As you gentlemen can see, the situation is a little awkward at the moment. I hope you'll understand."
"Not at all. We're fine. Please, speak freely."
The owner of Iljae Building waved his hand as their representative, signaling that it was all right. The other building owners seated in a row nodded as if to say they felt the same.
Seong-ho put on a look of relief and made his proposal.
"I'll keep this simple. As you know, I want to buy your buildings."
When he finished speaking, he held out his hand toward Jo Chung-sep. Jo handed him the papers in front of him. Seong-ho checked them, then passed each man the sheet that corresponded to him.
On the paper were the prices for each building, calculated with the Juma Construction building as the baseline.
Seong-ho spoke first to the building owners, whose faces registered surprise as they looked at the sheets.
"These are the prices I want. Anyone willing to sell at that figure can sell to me. If not, you're free to leave."
"You're really saying you'll buy our building for twelve billion won?"
The owner of Iljae Building stared at Seong-ho as if the proposal were not merely absurd but beyond belief.
"I bought it for thirty billion. Thirty billion—ten years ago. And now you're offering twelve billion?!"
"Twelve billion in cash. Paid in full on the day of the contract. If you find my offer ridiculous, simply don't sell. For reference, I've agreed to acquire the Juma Construction building for fifteen billion."
"The Juma Construction building? Isn't that the one right in front of Gangnam Station?"
"That's correct."
The building owners, apparently startled by Seong-ho's words, pressed him with further questions.
"Is that true? Juma Construction agreed to hand that building over for fifteen billion? I heard the construction costs alone for the Juma Building exceeded forty billion..."
"We signed the contract yesterday."
"Ah!"
The owner of Iljae Building let out an involuntary gasp. Once Seong-ho had bought the Juma Construction building for fifteen billion, his offer of twelve billion for their own no longer felt so outlandish.
The building owners, including the Iljae owner, closed their eyes. Seong-ho delivered his final words to them.
"If you look around and find someone offering better terms than mine, I won't try to stop you. By the same token, I have no intention of raising my price by so much as a single won. Think it over carefully and decide."
"Really... you'll really pay the full amount in cash on the day itself?"
The Iljae Building owner asked one last time. He had heard it emphasized several times already, but for him it was more important than anything, so he wanted absolute confirmation.
"I'll handle it however you prefer. If receiving it all at once is inconvenient, I can split the payments. I can also wire it to a bank account if you wish—whether domestic or overseas makes no difference."
"Overseas is possible as well?"
"It would require a somewhat bothersome process, but yes, I can do it. Isn't that right?"
When Seong-ho looked to Jo Chung-sep, Jo nodded.
"We've purchased U.S. bonds under Director Kim's name. If we liquidate those... it may take a little time, but it isn't difficult."
"Then I'll do it."
The moment Jo confirmed it was possible, the owner of Iljae Building stepped forward to deal.
"Me too..."
"I'll sell as well."
As if someone were shoving them from behind, the remaining two scrambled not to fall behind, declaring they would sell. Seong-ho smiled faintly at them and said,
"Are you sure you don't want to think it over a little more? There's plenty of time."
"Director, you may have plenty of time. We don't."
The Iljae owner thumped his own chest as if there were nothing left to consider.
"I want to sell today if possible. Just put the payment into an overseas account, as I said earlier."
"Same for me. I want all sixteen billion transferred to an overseas account."
"I'll take half and half. Seven billion overseas, the other seven billion in cash."
As they traded conditions back and forth, Seong-ho raised a hand to quiet them and turned to Jo Chung-sep.
"President Jo. Would you step outside with these gentlemen and prepare the contracts? I'll speak with the chairman in the meantime."
"Yes, understood. I'll get everything ready so we can sign the moment you come out."
At Jo's words, the building owners stared at Seong-ho in astonishment.
"Today... we can contract today?"
"Would you rather not? If so, we can pick a better day..."
"No. We want to do it today."
Afraid he might change his mind, the building owners all rose from their seats at once. Then they urged Jo to hurry so they could draft the contracts.
Seong-ho smiled softly at the sight and made a request of Dan Il-gyeong.
"Chairman. As you've heard, we'll need staff to prepare the contracts. Could you allow them in?"
When Seong-ho asked carefully, Dan Il-gyeong raised a hand and instructed the man standing behind him.
"Let them in."
"Yes, sir."
When the sturdy man acknowledged the order, Jo Chung-sep rose with a look of relief. Seong-ho told Jo to get things in order, and told the Iljae owner and the others he would see them shortly.
Having just set a contract worth well over forty billion in motion, Seong-ho composed himself to speak in earnest with the master of the financial pawnshop of the business world.
After Jo Chung-sep led the building owners out and the man following Dan Il-gyeong's instructions left the conference room as well, only Dan Il-gyeong and Kim Seong-ho remained.
Turning his chair to face Seong-ho, Dan Il-gyeong rested both hands on his cane and regarded him.
"I saw a rare sight. Processing more than forty billion at a stroke—I don't believe I've ever witnessed that in my life."
"I can only feel embarrassed for putting on such a pointless show in front of you, sir."
"Not at all."
Unlike when he had first entered the room, Dan Il-gyeong's manner had softened somewhat. He waved a hand toward Seong-ho.
"You've got a decent touch with people as well... I've known Tak-hyeon since he was a boy, and you look exactly like that fellow in his youth."
"I'm honored that you would compare me to the chairman."
"Right. You said you were his son-in-law, didn't you?"
Dan Il-gyeong studied Seong-ho carefully, then lifted one corner of his mouth.
"I've met that fellow's sons a few times. You look more like a son than they do. Chairman Lee must be pleased to have landed such a fine son-in-law."
"Thank you for saying so."
Seong-ho inclined his head slightly and offered his thanks. Then he lifted his gaze and, carefully gauging Dan Il-gyeong's reaction, spoke.
"By any chance... had you taken a liking to the Iljae Building and the others, and I cut in line?"
"You could put it that way."
At those words, Seong-ho bowed even lower than when he had expressed his gratitude and offered an apology.
"Had I known they had caught your eye, I would never have dared to step in. If you tell me to back off even now, I will."
Seong-ho was saying he would give up easily. In truth, from the moment Dan Il-gyeong had appeared, Seong-ho had been wondering whether he ought to withdraw from the building purchases altogether.
Dan Il-gyeong's influence in the economic and political spheres was nothing to take lightly. In particular, while the man still lived, even Lee Tak-hyeon deferred to him; his sway was that immense.
Losing two or three buildings would not ruin Kim Seong-ho. He had simply had too much money left over, spotted something that looked tasty, and poked at it. They were not something he absolutely had to have, so he could walk away—and if walking away would solidify his relationship with Dan Il-gyeong, that was the better choice.
Since the subject had come up, Seong-ho decided he should also clear up any misunderstanding.
"Lending money interest-free to those companies truly had no other motive. I have no intention whatsoever of entering private finance, which is your domain. I only supported places that could survive if they weathered an unexpected crisis. I plan to handle this once and never set foot there again, so please forgive me."
"Fine. From now on, if anyone asks, that's what you should say."
Dan Il-gyeong gripped his cane with both hands, propped his chin on it, and looked at Seong-ho. A faint smile even played about his lips; there was no longer any sign of displeasure on his face.
That very expression made Seong-ho feel a chill instead.
Does he know everything?
It felt as if Dan Il-gyeong could see the truth Seong-ho had buried behind his sincere apology. Dan Il-gyeong watched Seong-ho's gradually hardening face with evident amusement and said,
"Keep the buildings as well."
The words of surrender came far too easily. He took his chin off his hands, sat up straight, and leaned back against the chair, still looking at Seong-ho.
"Until I got here I was furious about whoever was trying to snatch what was mine. But looking at you, that feeling vanished completely."
"Why did it vanish, sir?"
Curious, Seong-ho asked in a cautious voice. He couldn't help wondering if perhaps an even greater dislike had simply risen in its place. But Dan Il-gyeong's answer was completely unexpected.
"Because I'm glad to have found someone as greedy as I am."
"Greedy...?"
"That's right. Heh heh."
Dan Il-gyeong stared hard at Seong-ho and said,
"I know perfectly well what you were thinking when you lent money to those companies. You loaned it because you knew they couldn't pay it back, didn't you? So you could swallow the collateral they put up instead of the cash."
He placed a hand on his chest and laughed.
"To other people you may look like a good man. Not to my eyes. You're a demon. An evil demon. A money-crazed demon, just like me."
Listening to Dan Il-gyeong, Seong-ho felt a chill run over his skin. But those words were not the end of what made him shudder.
"Same with buying the buildings. From Juma Construction all the way to that Iljae Building owner who was sitting here—every one of them is desperate for cash. You're exploiting their weakness, beating them down, and taking the buildings for next to nothing. If that doesn't make you a demon, what does?"
Under Dan Il-gyeong's all-seeing assessment, Seong-ho's smiling face gradually hardened. In inverse proportion, Dan Il-gyeong's face filled with a smile. He pointed a finger at Seong-ho's face and said,
"It's been a long time since someone appeared who suits my taste so perfectly. I'm happy—so don't stiffen that face of yours."
"You're... happy, sir?"
At the instruction not to harden his expression, Seong-ho relaxed his features and asked, puzzled. Dan Il-gyeong beamed and nodded.
"Of course. How could I not be glad? Young fellows these days talk about chasing money, yet all they show is ambivalence. Can't do this, can't do that... nothing but excuses. Not you. When you want something, you don't care what happens to the other party—you clamp on like a dog and refuse to let go. Looking at you is like looking at myself."
The man who had said he saw Lee Tak-hyeon in Seong-ho was now saying it was like looking at himself.
Seong-ho said nothing for a moment, simply watching Dan Il-gyeong. It seemed like praise, yet Seong-ho still could not quite guess the man's true intentions.