The Magician’s Memorial - Chapter 30



Only Krnovel

Episode 30 Myeongdong(4)

It was not easy to get a loan of 400 billion won from an institutional bank.

In particular, in the case of Taewoo Group, which had a high debt ratio, it could be said that lending was blocked, so it distributed funds by borrowing money from private loans or foreign countries.

However, CT Bank approved the loan.

Of course, this was possible because I worked behind the scenes.

SAVE Investment Company’s main bank was designated as CT Bank.

It was a SAVE investment company operating $36 billion, and it was a large customer of the five largest banks in the United States.

Moreover, the loan amount of 400 billion won also came out of my own pocket.

CT Bank became SAVE Investment Company’s main bank in exchange for merely lending its name, and was even able to make a show of lending 400 billion won.

I didn’t want to spend the money this way.

Before the foreign exchange crisis hit, I tried to save money as much as possible, but when I saw what Myeongdong was doing, I couldn’t hold back any longer.

And since 400 billion won was not that big of a sum, I just paid it off.

When the situation suddenly changed, it was Managing Director Lee who was embarrassed.

His face turned red and he spilled out words he shouldn’t have said.

“Is it okay to lose money with Myeongdong while playing for money in Korea? “If Myeong-dong moves, it won’t be a problem to close a bank!”

“It would be like that if it were a regular Korean bank. However, our CT Bank is not a Korean bank. If Myeongdong uses its power to pressure CT Bank, it will escalate into an international dispute. “If you want to fight against America, go for it.”

Han Dong-gu, the head of the corporation, also had a refreshing personality.

He graduated from graduate school in the United States and worked at the headquarters of CT Bank in the United States, so he was well aware of the enormity of the American market.

Myeongdong private loan market?

It was only known in Korea, but it was never at a level comparable to Wall Street.

And to put it bluntly, SAVE Investment Company’s funds alone were enough to put the Myeongdong private bond market in trouble.

“You’re really going to pretend to be Myeongdong, right? “It’s not just the Changwon factory that borrowed money!”

“I heard that Director Lee is in charge of monitoring the Changwon factory? If the Changwon factory’s debt is paid off, won’t Managing Director Lee’s role disappear? “Please leave the Changwon factory as promised.”

“We’ll see!” “You will definitely regret it!”

It was Director Lee who kicked down the door and left.

It was no different from running away.

You probably didn’t expect that he would suddenly say he would pay back a huge sum of 400 billion won.

When Managing Director Lee disappeared, the meeting continued again.

The Vice Chairman offered a seat to Corporation President Han Dong-gu and asked several questions.

“We will continue to hold presidents’ meetings. I have a question for the CEO of a corporation. Was the 400 billion loan really approved?”

“This has been approved by the head office, and the interest rate is lower than that of commercial banks and the loan has a 5-year maturity.”

“These are very good terms. But what is the point of suddenly lending a huge sum of 400 billion won when the loan was not approved before?”

Taewoo Group had inquired about loans from all banks in the market.

My grandfather’s dream of globalization was huge, and of course he needed a lot of money.

However, due to the high debt ratio, commercial banks were hesitant to provide additional loans, and overseas banks were also unwilling to provide additional loans.

So you might be suspicious that the loan was suddenly approved.

In order to allay doubts, CEO Han Dong-gu gave an answer that kissed me.

“Director Kim Min-jae’s personal connections were mobilized. While studying abroad in the United States, Director Kim established good relationships with many bankers on Wall Street. In the case of this loan, it is safe to say that it was a loan to Director Kim, not to Taewoo Group.”

“Uh huh, blood is blood after all.”

The vice president’s innermost thoughts came out of his mouth.

He quickly realized that he had made a mistake and cleared his throat.

Meanwhile, several presidents who had sided with Managing Director Lee expressed negative opinions.

[Replacing the Changwon factory’s debt with a lower interest rate is a good thing, but the relationship with Myeongdong may worsen. Taewoo Group and Myeongdong have had a good relationship for a long time, and many affiliates have received loans from Myeongdong. If Myeongdong asks you to repay all your loans at once, it will be very difficult.]

[Isn’t CT Bank going to give you an additional loan equal to the amount you borrowed in Myeong-dong?]

[Wouldn’t it be better to use the loan from CT Bank to build additional factories in Vietnam?]

CEO Han Dong-gu responded sensitively to the last question.

“This loan should only be used to repay the loan to the Changwon factory. “If it is used for other purposes, it will become difficult to get a loan, and we cannot promise the same low interest rate as now.”

“Hmm, I am very grateful for CT Bank’s offer, but I can’t help but think about our relationship with Myeong-dong.”

In Taewo Group, all power is concentrated in the chairman.

No matter how much he held the title of vice president, he could not make decisions or take responsibility for such matters.

In that case, I have to take responsibility.

“I will resolve the relationship with Myeongdong.”

“Does Director Kim have any ties to Myeong-dong?”

“Wouldn’t it be okay to create a relationship? I do not believe that Myeongdong was directly involved in what Director Lee did. “I guess Managing Director Lee just borrowed the name of Myeongdong and escorted me by name.”

“There’s nothing I can do about that. We will discuss it after the Chairman returns. “Today’s presidents’ meeting ends here.”

The vice president made a decision.

Deciding that he could not continue the CEO meeting in such a chaotic situation, he ended the meeting quickly, and the affiliate presidents left the meeting room with their mouths closed.

In the empty conference hall, only I and the Chief Secretary remained.

As I approached, it was the manager who pursed his lips and shook his head.

It seemed like he wanted to stop me from going to Myeongdong.

“It’s not possible. “Myeongdong is dangerous.”

“I know that anyone who wants to run a business in Korea goes to Myeongdong at least once. “I also have to go there someday, so wouldn’t it be better to get acquainted with it now?”

“It is too early now. “I think it would be a good idea to have a meeting together when the Chairman returns.”

“Now is the only time we have to settle things before Director Lee causes trouble. “If the manager doesn’t arrange a place for me in Myeongdong, I will go alone.”

I looked straight into Director Kim’s eyes.

Director Kim sighed as if my will had clearly been conveyed.

“All right. “I will contact you right away.”

“It’s been a while since I can go for a drive with Director Kim.”

The place was set up pretty quickly.

Perhaps he had been waiting for me, the loan shark, known as Director Lee’s cousin, immediately responded and asked me to meet him at his residence.

I traveled in the car driven by Chief Kim.

While moving, I was able to hear roughly the identity of the loan shark from Director Kim.

“There are four big hands in Myeongdong. There is the Cash King, Grandma Baek, Gwanghwamun Bear, and Chairman Kang. Managing Director Lee’s cousin is Seon-il Lee, also known as the Gwanghwamun Bear.”

“I looked into it myself. “I heard you own a lot of real estate?”

“The known information is only the tip of the iceberg. It owns so much real estate that if you want to enter Seoul, you can’t pass by Gwanghwamun Bear Land. And it is said that when the stock market was first created, 30 percent of the Korean stock market was his money.”

The legend of the Gwanghwamun Bear was a story created in the 70s.

30% of the Korean stock market is his money?

In the 1970s, the total value of the Korean stock market was only 85 billion won.

30% is approximately 25.5 billion won.

Of course, the value of money was different from what it is now, but it was clear that the assets he owned would fall far short of the SAVE investment company’s funds.

“I think you’re trying to scare me, but have you forgotten whose grandson I am? I grew up seeing my grandfather every day. “No matter how great the Gwanghwamun Bear is, is he as great as my grandfather?”

“… … That’s right. But I am by no means someone to ignore. “If you look at cash assets alone, he may have more money than Taewoo Group.”

While we were chatting about this and that, we arrived at the meeting place.

True to his nickname, the old house near Gwanghwamun was the bear’s residence, and I was able to enter the old house with Director Kim.

As I entered the entrance, dozens of security guards were waiting.

A person with a long knife mark on his face blocked our path.

“Director Kim, please wait here. “The Chairman would like to have a private meeting with Director Kim Min-jae.”

“But wouldn’t it be better for me to say hello to you?”

“I will go alone. “Please rest for a while.”

“B-but, master.”

“are you okay.”

I left Director Kim behind and moved forward.

There was another main gate inside the old house, and when the main gate opened, a large garden appeared, with a pavilion standing tall in the center.

As I approached the pavilion, the owner of the old house was waiting for me.

An old man holding a stick in his mouth.

An experienced bear, about the same age as my grandfather but twice as big, is looking down at me.

“Hehe, Chairman Kim’s grandson is coming to visit me. So many years have passed. Nice to meet you. This person is called the Gwanghwamun Bear. “Please feel free to call me Yeonggam.”

“Nice to meet you. “This is Kim Min-jae, the grandson of Chairman Kim Tae-jung and the head of the Taewoo Group’s audit team.”

“I hear news about you occasionally. Chairman Kim was so proud. He graduated from the best university in America? Chairman Kim will be very reassuring.”

It was a conversation that started with well-wishes.

This old man offered me a seat across from him and served me a cup of fragrant green tea.

“I roughly know why you came here. “You don’t get along with my youngest cousin?”

“My cousin joked around a lot. Of course, I believe it has nothing to do with the elderly.”

“Tsk, tsk, he was so stupid that I sent him to the factory and he must have had an accident.”

Is this someone you can communicate with?

If you look at the conversation so far, he was a person with very normal thoughts.

However, the person who rose to his current position as a loan shark is Gwanghwamun Bear.

A wolf pretending to be a bear.

It was clear that whenever I showed weakness, he would try to bite my neck off.

“Director Lee himself said that he was dispatched to the Changwon factory to monitor Taewoo Motors. “Please take him away now.”

“Surveillance is a mess. Is he capable of doing that? He doesn’t seem to have any talent for making money, so I just provided him with a position so he can make a living somehow. But I have no intention of getting rid of him. “It’s up to you whether you kill him or keep him alive.”

As expected, it is not an easy inspiration.

I told him to decide whether to kill or live, but it was no different from telling me not to touch Director Lee.

“Then let me make another offer. “Won’t you join hands with me?”

“What are you going to do by holding the hand of an old man like me? “You don’t even hold the pretty woman’s hand.”

“If you join hands with me, you can become the owner of Myeongdong within 5 years.”

“Hahahaha! This is the funniest story recently. You are making a promise that neither the Chairman of Hyunjae Group nor the Chairman of Samjin Group can make. … … Does Myeongdong look funny?”