Tsunami
***
The directive from the Blue House president had come down. Only five people were seated in the main building's conference room, including the prime minister, the deputy prime minister for the economy, and the finance minister. They knew this wasn't an ordinary matter, but no one could predict what would come out of President Kim's mouth. They murmured among themselves, trying to gauge his intentions.
"Do you happen to know why His Excellency summoned us?"
"No clue at all. I racked my brain on the way here, but nothing comes to mind this time."
"Maybe it's follow-up measures on the public disclosure of assets for high-ranking officials?"
"Can't predict rashly. It doesn't seem like a routine issue anyway, so let's just see what happens."
"Agreed."
Moments later, the door opened, and President Kim Dong-il appeared.
-His Excellency is entering.
The group rose from their seats, bowing their heads in respect. President Kim scanned their faces intently before sitting down and nodding.
-Please be seated.
A heavy silence hung in the air for a moment before President Kim broached the topic.
"You've all worked hard coming here. Curious what I have to say, aren't you?"
"Yes, Your Excellency."
"Indeed."
He nodded, and the secretary distributed the prepared materials. The ministers' faces paled as they reviewed the contents.
The deputy prime minister for the economy ventured a cautious opinion.
"Your Excellency. Are you really planning to implement the financial real-name system?"
"Is there any reason not to?"
"No, that's not what I mean. It's just that such a sudden rollout is bound to provoke public backlash to some degree. We should consider the impact on approval ratings as well."
"The public won't mind if we provide ample alternatives to minimize inconvenience. The goal in drawing this sword is to seize the black money hoarded by corporations."
President Kim had already disclosed not only his own assets but those of his immediate family. Then he played the card of asset disclosure for all senior officials grade 4 and above. Having emptied his own pockets for all to see, those gold-badge holders in Yeouido could hardly refuse. The ripple effect had Yeouido walking on thin ice.
President Kim's worry, having tamed the political world, now turned to the corporations. He didn't hesitate to reveal his frustration.
"To revive the economy, we need corporate help... but since it's not a military regime, the chairmen aren't cooperating worth a damn."
"I fully agree on targeting corporate black money. However, considering the societal impact of the system, we need at least six months of preparation."
"Drag it out too long, and word leaks... Security is everything here. Implement it in exactly three weeks."
"Three weeks... You don't mean... you're issuing an emergency order?"
"No other way around it."
It was the best choice to avoid social upheaval and chaos. Of course, President Kim harbored another hidden motive: the existence of JK Group Chairman Kang Jin-gwang and his grandson Min-ho.
He couldn't deny receiving 50 billion in political funds to reach this seat. Realizing too late the noose around his neck, he knew he'd be dragged around by JK Group, rendering the presidency meaningless. JK Group's affiliate expansions continued unchecked, and they even snapped up Line 6 subway land for a whopping one trillion won. He beat his chest in regret, but it was far too late. He couldn't just take it lying down.
The biggest victim of the financial real-name system would be none other than JK Group. The plan was to burn their barn and tie their hands.
Fulfilling his economic reform pledge, boosting his approval ratings, and pressuring corporations—all three rabbits in one go. President Kim resolved to catch them all.
The cabinet-level officials lowered their voices, urgently exchanging opinions on the abrupt decision.
-The pace is too fast.
-Considering corporate backlash and public opinion, we should take time to deliberate carefully.
-We must seriously consider the social repercussions.
No system was perfect. Even if there was bleeding, it had to be completed in his first year in office. President Kim slammed his palm on the desk, his face darkening.
"What a bunch of scaredy-cats? How do you expect to handle state affairs like this?"
"We're sorry, Your Excellency. If you could give us just a bit more time..."
Delaying would end up like past regimes, shredded by the press with neither fish nor fowl. This was the golden opportunity to enact the system.
"From today, all of you relocate to Gwacheon. Don't even dream of leaving until it's perfectly prepared. Effective immediately, all external contact is strictly prohibited."
He played his ace for utmost security. And so, the massive wave of the financial real-name system surged toward JK Group.
***
JK Group Chairman's Office.
The shepherd boy's third false cry of "wolf" went unbelieved by all. The financial real-name system was no different—it had fizzled out twice before for various reasons. Even if word leaked from Hyoja-dong, few would believe it ironclad. Yet, like that third wolf being real, a colossal tsunami bore down on JK Group.
Without preparation, they'd be swept away. Chairman Kang had been readying himself bit by bit, thanks to Min-ho's advance signals, but the wave's scale exceeded expectations. Min-ho was the only one outside government officials who knew it was coming.
He couldn't scream "tsunami!" at a calm sea. Full preparation was essential. Min-ho calmly laid out the situation to his grandfather.
"Grandfather, you know about the financial real-name system, right?"
"Of course. A few years back, they tried to enact it into law, but it fell through."
Gazing at Min-ho with affectionate eyes, Chairman Kang slyly asked,
"Something tells me there's more to it... Why bring it up out of the blue?"
"This administration seems poised to implement it."
"Can't rule it out entirely. That's why I've been preparing myself. Is there something worrying you?"
The financial real-name system could strike overnight. Without prep, it'd hit like the 1972 8.3 private loan freeze. There were words Min-ho knew not to utter before Chairman Kang. One was precisely that loan freeze. Knowing it was sensitive, he brought it up anyway.
"You still remember 1972, right?"
Even from Min-ho's lips, Chairman Kang's expression hardened instantly. Butler Moon quickly intervened.
"Young master... I'll explain that separately later..."
The government's emergency order had vaporized over half the assets of then-private moneylender Kang Jin-gwang. It nullified all contracts overnight. Everything he'd built gone in a flash—the shock was indescribable. Even the mighty Chairman Kang had contemplated the worst option. Over twenty years later, the wound in his heart remained unhealed. It was why he distrusted politics to his core.
Exhaling a long plume of cigarette smoke, deep as the scar, Chairman Kang nodded and replied.
"Time has flown, but thinking back still makes my blood boil even in my sleep sometimes..."
"I brought it up because I wanted to ask one thing."
"What is it?"
"If they issue an emergency order, you wouldn't have any countermeasures, right?"
"Naturally. It's the state playing thug legally—who could stop it? But why ask suddenly?"
Min-ho sipped his coffee and dropped a bombshell.
"They're implementing the financial real-name system soon. Via emergency order, no less."
Not speculation or probability—he nailed it down. There was no reason for Min-ho to spout nonsense. Tilting his head, Chairman Kang pondered, set down his pipe, and asked,
"Dong-il's setting the board... that's what you're saying?"
"Yes. It starts with senior officials' asset disclosures."
"He disclosed his own first and strong-armed his underlings—they had no choice. With Yeouido in line, next it's my turn."
"Yes. Not just likely—I'm certain."
"Reforms must be pushed when power peaks, and missing this year won't be easy. That said... a policy this big would reach my ears for sure?"
The financial real-name system had been a campaign pledge of candidate Kim. He'd dismissed it due to two prior failures building immunity.
"An overnight emergency rollout changes everything. Like the loan freeze. No one knows, but the tsunami's coming."
"Your words have merit, Min-ho, but with the leash so tight, I doubt Dong-il would bite like that."
"Four years from now, he'll be a waddling duck, but right now, he's a full-grown elephant."
Tight leash or not, they couldn't relax. An elephant could snap it anytime.
"Let's see him fight for his life..."
"It's a card they can play anytime via emergency order. Packaged as reform, but really to make FKI chairmen like us fall in line."
"No need to charge the wave head-on?"
"It's inevitable eventually. So we prepare in earnest now."
It was Min-ho speaking, whom Chairman Kang trusted most. Circumstances backed it, and prep cost little manpower or funds. Readiness meant safety; negligence, another ordeal. No reason to repeat mistakes. Chairman Kang nodded, accepting Min-ho's view.
"Fine, when my grandson pleads like this, grandfather must heed. Promise we'll prepare by month's end."
"Yes. And one more thing."
"You've got a bundle of tales ready, huh? Let's hear it."
"Implementing the financial real-name system would be like Kim slapping you across the face. I can't stand for that."
"True enough. So what do we do?"
Strike back twice as hard—that was the rule. President or not. Min-ho revealed his hidden card.
"Stay still, and he'll grow bold, slip the leash, and come for your neck."
"Hit him with all we've got? But I see no other way..."
"Simple. Shake the Seoul mayor he appointed and topple him."
Having waited eagerly for Min-ho's words, Chairman Kang burst into hearty laughter.
"Drop his approval ratings surged by the real-name system? That's the plan?"
"Yes. And unexpectedly, we'll emerge unscathed. Unlike others, Grandfather, your sleeves will be bone-dry."
He'd read the opponent's moves meticulously. And prepared the follow-up perfectly. Even if no real-name system, it didn't matter. The far-sighted vision, boldness, flawless strategy—pure admiration.
His secretariat of dozens paled beside Min-ho alone, who was sturdier and incomparable. Chairman Kang couldn't hide his satisfaction at this side of his grandson.
"You've been awfully quiet lately—turns out you had schemes brewing."
"Not time yet, but you can move Se-min Newspaper, right?"
"Of course. No need for seconds. With affiliate growth losing steam, my grandson delivers the grandest fun."
"Grandfather, all that talking made me hungry."
"Good grief, look at the time—it's noon already. Let's go eat something delicious, just us."
Financial real-name system countermeasures complete. Now, Min-ho's solo festival remained. The perfect chance to multiply assets.
After lunch with Grandfather, Min-ho headed straight to Athena for the next plan.