I Became Park Jeong-ui’s Nephew - Chapter 134



Only Krnovel

He became Park Jeong-ui’s nephew. – (134)

‘Is this really a question of growth and redistribution? Or is it…?’

This is Germany,

Kim Jong-in, who left his homeland to study far away, was lost in thought.

Korea is currently in chaos due to real estate-related corruption. No, is this incident really just an aberration committed by bureaucrats?

Kim Jong-in focused on the essence of ‘power’ behind this incident.

Why is the Korean president nationalizing real estate and restricting land development?

Is it because if real estate is left to the market, land speculation will be repeated and as a result, housing prices will skyrocket, turning salaried workers into slaves tied to the land?

That’s not wrong, but the president’s goal may be to tie up the people’s money in corporations rather than land.

In fact, ‘Daehan Transportation’, which is managed by the president, was listed on the Shanghai Stock Exchange seven years ago, and its stock price has increased fivefold.

As a result, the president became a wealthy person with assets worth 6.5 trillion won.

The country is now turned upside down because the Korean People’s Party sold land to raise political funds (44.5 billion won), but compared to the wealth the president manages, it’s nothing.

In short, the game itself is not viable.

But when we look at the Korean real estate market, the story is different.

Daedeok-gun, where land prices have increased 187 times due to land development

The value of the land in that area alone is approximately over 2 trillion won.

If land development continues like this, land prices in South Korea will skyrocket, and eventually, cash that was circulating in the stock market will flow into real estate.

So who suffers the biggest losses?

Even the president who runs the company cannot avoid the blow; in the end, this issue is not a simple corruption case.

The battle between the soon-to-be-retired president and the People’s Party of Korea, which is trying to succeed him,

The Korean People’s Party has continued to receive political funds from the president.

If this continues, the Korean People’s Party will continue to be influenced by the former president, which means the flow of funds in Korea has been diverted to real estate.

If you put it nicely, it’s a policy change, but if you put it badly, it’s a coup.

Do you think the president’s influence over Korea will disappear when he retires?

If we continue to tie up real estate development and boost stock values ​​as we have done so far, the Korean president will continue to make money and investors, i.e. the people, will also benefit.

Even if you retire, you are not retired.

In the end, President Park Sang-geun will remain the eternal ruler of Korea.

The Korean People’s Party, which tried to turn that around but suffered a setback, of course, this is just the guess of a scholar, and no one knows the president’s true intentions.

So, scholars should continue to ask questions to the president.

Will the president be able to guarantee profits for investors, or rather the people, in the future?

Would the public benefit if they invested in businesses rather than real estate?

Kim Jong-in packed his bags to find the answer.

I have decided that studying in Germany is over and that the time has come to enter politics.

***

“Your Majesty, your guests have arrived.”

“Tell them to come in.”

The same routine that repeats itself today,

I invited university professors and economic experts.

Korea is in an uproar over real estate issues. Is the structure in which some officials and the financial industry make money through real estate development the future of Korea?

Is it right for citizens to borrow money from banks to buy a house worth 5 million won and become economically dependent?

I’m making a fuss because I don’t think that’s right.

The problem is whether scholars think that way, but first of all, six professors were arrested while speculating in real estate.

Public opinion is ‘Beat those useless bastards to death.’

If studying and doing something else is speculation, isn’t that studying in vain?

Above all, redistribution has emerged as a social problem in Korea.

Now, Korea needs to move beyond growth and provide appropriate distribution to its citizens, but the current situation is not favorable.

It is true that Korea is very large, but it is true that the manufacturing and industrial sectors are lagging behind the US and Japan.

We need to continue to grow in the future, but if we do this, redistribution will be pushed back.

“Hey, later on, when our country prospers, you guys will naturally prosper too.”

“Is that really true?”

“Okay, so just bear with it for now. Just work hard.”

Korea has been forcing this logic on its people so far.

If we work hard and the country prospers, the common people will also prosper, but what is the reality? Except for some, the rest are not doing well.

1.5 million skilled workers take out loans to buy houses and increase their wealth to form the middle class, but do we develop the economy centered on real estate and finance for those 1.5 million people?

Once a privileged class is formed like this, the rest are reduced to the slave class.

So what is the way to achieve growth while also redistributing? I think it is to grow the stock market.

In fact, the value of Daehan Transportation has increased several times since it was listed on the Shanghai Stock Exchange, and I have earned over 6 trillion won.

So was I the only one who ate well and lived well?

Korea has created a middle class of 1.5 million people through manufacturing, and I have created a middle class of 4 million people by running a company called Daehan Transportation.

One million in Korea, 1.2 million in Japan, 400,000 in the US, 1.3 million in Shanghai-Taiwan, literally one company is feeding people in several countries.

That’s it.

Because the company is doing well, the taxes paid to the country are also enormous.

Last year, Daehan Transportation recorded sales of approximately 40 trillion won, of which 8.8% was spent on corporate tax.

Since Korea’s sales are about 7 trillion won, about 600 billion won went into the Korean government budget. For reference, Korea spends about 750 billion won on social security services.

The government is making money thanks to corporations, but what happens if cash flows into real estate?

Literally, the only people making money are the financial industry and speculators.

In this structure, how can the government collect taxes and how can it design redistribution policies? Value-added tax? That is a policy that extorts small amounts of money from the powerless common people.

Korea’s redistribution policy is to take small amounts of money from the people and give them small amounts of money.

I asked university professors for their opinions.

“Is it the way for the country to develop if citizens borrow money from the financial industry to buy apartments and increase their wealth? Then what happens to those who can’t buy apartments? I’ve done some research, and if you implement redistribution policies like this, the poverty rate will go up to 18%. What do you think?”

The professors remained silent for a moment.

The professors were caught speculating, so what are they going to say here?

They gave a set answer.

“This type of real estate development cannot secure the future of the country. The people’s demand for social spending will continue to increase, but will this be enough to secure tax revenue?”

“I think so too. Handing over real estate to corporations or specific businessmen is a privilege. In the future, real estate development should be restricted by the government.”

I nodded when the answer came to me.

If this continues, the people’s money will continue to flow into corporations, and corporations will continue to hire people and the government will continue to collect corporate taxes.

Of course I plan to do that, but some companies may not.

If the government gives special treatment, they will have to hire more people, but aren’t there also unscrupulous business owners who only try to make a profit by exploiting people?

Because of those things, redistribution is not done properly.

Do you think I’m crazy enough to pay my employees an average monthly salary of over 30,000?

Even female employees take home more than 30,000 won.

If two people get married and start a family, their monthly income will be more than 65,000 won. With this amount, they can save up and buy their own apartment within 10 years.

How is this redistribution? How is stimulating the real estate market and raising land prices redistribution?

This is the reason why I cut off the head of the Korean People’s Party.

So, even after I retire, I plan to rebuild Korea in my own way.

“The reason redistribution is not working properly is because the wage gap continues to widen. I will continue to provide sufficient jobs and wages to many people.”

According to recent data, the top 10% own 35% of all wealth in Korea.

Five years ago it was 17%, so you can get a sense of how rapidly the wealthy have increased their wealth.

My wealth has grown fivefold, but I don’t remember ever storing it all away in my barn.

The company’s sales were 40 trillion won, its net profit was 8 trillion won, and it paid 700 billion won in taxes to each government and spent 150 billion won on employees’ salaries.

So, did I swallow the remaining 7.2 trillion?

It costs a lot of money to maintain a business, from management to investment to facility expansion.

Even if I say this, many people will think that I maintain power through corporations, so why don’t I just show them?

I mobilized the media to reveal what I have done so far.

[Korea’s inflation rate has averaged 3.9% over the past five years, and the wage growth rate has been 4.3%. The middle class is estimated at 2.5 million people, and the government budget recorded a surplus of 1.7 trillion won. There is no need to worry about a slight increase in prices.]

Prices are expected to rise in line with wage increases.

So are the people dissatisfied?

In other words, the country and corporations put more money into the mouths of the people. The 2.5 million middle class is proof of this, and this number is expected to increase to 3 million in the next five years.

Korea’s goal is to make half of the population middle class, and to that extent, the country can be sustained through the domestic market alone.

But that’s not for me, it’s for the next president to do.

The 17-year term ended like that.

***

[With only three months left until President Park Sang-geun leaves office, the people are boycotting the presidential election that will be held in two months. According to opinion polls, the people still support President Park Sang-geun, with support for other candidates at less than 2%.]

This is Gyeongseong,

Ahead of the presidential election, each newspaper surveyed public sentiment.

Now that the president has decided to retire, shouldn’t we choose another candidate?

Each newspaper conducted opinion polls targeting candidates other than President Park Sang-geun, but the people responded by refusing to vote.

“Kim Ho-yeol? What is this? A horse bone rolling around somewhere?”

“All other candidates are meaningless. President Park Sang-geun must continue.”

“You’re only 37 years old. What kind of retirement are you talking about? You have to say something reasonable.”

“Don’t bother voting!! Just keep going!!”

“Make President Park Sang-geun the permanent president!!”

If this is public sentiment, is it too much to boast?

However, there are 1 million Koreans receiving salaries from companies run by the president, and if you include their families, the number increases to several million.

The same goes for the 1.5 million people working in the heavy chemical industry, as well as countless businessmen who are tied to the president.

How did Jews make so much money and expand their businesses in Korea?

A question that has an answer when looking back at Korean history: over 6 million citizens publicly expressed their support for the current president.

With this alone, a majority is secured,

If you add in the hidden votes, this time it easily exceeds 80%.

A wall that can never be overcome,

Several presidential candidates gave up early.

No matter what I do, I cannot escape the shadow of President Park Sang-geun. A situation has arisen where a person who has not even registered as a candidate has an approval rating of over 83%.

Just public opinion pushing you to be king,

World public opinion also paid attention to the Korean president’s actions.

With so much support from the people, will the South Korean president back off his promise to retire?

In the meantime, the presidential election came.

There were hardly any people at the polling station.

After searching through the ballot boxes and finding that most of them had ‘Park Sang-geun’ written on them, the election committee suspended the election.

According to Korean law, if voter turnout falls below 25%, the election is considered invalid. What kind of election can we have when the overall voter turnout is only 11%?

The presidential term is full, but the election is like this.

An emergency has been declared in the National Assembly as well.