CH420 | Heir

The next day.

Since I had a dinner appointment with Assemblyman Choi Jae-seok, I tried to get through as much work as possible in the morning, even skipping lunch to review reports from each affiliate.

While I was buried in paperwork, Vice Chairman Han suddenly burst through the door, holding out his phone with an excited look.

“Chairman, we’ve hit the jackpot.”

“What is it? Did some stock skyrocket?”

“It’s Yugobin. Right now, it’s the number one trending search in the U.S., and across all major social media platforms, the most searched word is Yugobin.”

What? Suddenly?

We hadn’t even properly begun promoting Yugobin yet. My plan was to finish lobbying the medical industry first, then launch full-scale marketing through TV commercials and other channels. At this stage, it wasn’t supposed to be in the spotlight at all.

“Why on earth is Yugobin suddenly blowing up?”

“It’s thanks to Musk.”

Vice Chairman Han showed me Musk’s social media post.

The first thing that caught my eye was a picture of Musk flaunting his muscles.

Beneath it was a short exchange with another user.

↳ What’s your secret to staying in shape?

[ Fasting and Yugobin ]

Just one short sentence.

But Musk was already enjoying celebrity-level popularity in the United States. The news that he used a drug called Yugobin spread like wildfire.

“So this is why celebrity endorsements cost so much. Just a single line from a famous figure on social media, and the ripple effect is this massive.”

“It’s not only Musk. Several influencers have also posted reviews, saying they’ve been using Yugobin and experiencing incredible results.”

“They weren’t sponsored by us, were they?”

“No, we haven’t even started recruitment for promotions yet.”

How had they even found out about Yugobin?

We had released a small amount into the U.S. market, but without any marketing, there should have been almost no way for people to know about it.

“It seems that some of the people who purchased it for diabetes treatment left reviews mentioning its weight-loss effects. Word of mouth spread little by little, and eventually even celebrities began to use it.”

“Today it’s become a sudden hot topic, but the response still isn’t strong enough to justify mass production. Let’s hold off until lobbying the medical industry is complete and the ads have aired, then we can increase production.”

“I agree. After all, the monthly treatment cost is nearly two million won. It’s a luxury drug. I doubt demand will be that high.”

It could easily be considered medicine for the wealthy.

Even with insurance coverage as a diabetes treatment, the price was still steep, and it was clear demand would take time to grow.

“It doesn’t matter if our forecasts turn out wrong. If demand suddenly spikes beyond expectations, word of mouth will only spread faster.”

“Innovative products always face early shortages. It would be best if Yugobin encountered the same issue.”

Come to think of it, Musk really was the perfect example of an eccentric.

Unlike Korean conglomerate chairmen, he did whatever he wanted without hesitation, and he loved to show himself off to others.

Not that it was a bad thing.

Thanks to Musk, we had just gained the impact of a nationwide ad campaign without spending a single cent.

By dinnertime, I moved to the annex of Captain Kang’s restaurant.

Assemblyman Choi Jae-seok had already arrived and was waiting for me. We exchanged only the briefest of greetings before turning our full attention to the meal.

Slurp!

Only after finishing the last sip of scorched-rice tea did we finally meet each other’s gaze. With a deep sigh, he braced himself to begin the real discussion.

“The policies you sent me are both extremely risky and highly attractive. If they fail, the fallout will be enormous. But if they succeed, they could dramatically boost approval ratings.”

“If we can raise support in Honam through Saemangeum and in Yeongnam through the Busan New Port, it will provide a tremendous advantage in the capital region elections as well.”

Who wouldn’t know that?

Solving the two greatest regional problems of Yeongnam and Honam would, of course, win overwhelming support. The only issue was that the path forward was too risky and difficult, which made Assemblyman Choi hesitate to embrace it.

“Do you truly need to establish a chemical complex in Saemangeum? And must the prerequisite for investing in Busan New Port’s infrastructure be the big deal between shipping companies?”

“In order to make it sustainable, both are absolutely necessary. No matter how much money we pour into regional development, if it lacks long-term viability, it will be nothing more than wasted funds.”

The chemical complex and the big deal in shipping couldn’t happen without political influence.

Even if the government opposed it, once a party that had swept the general election forced it through, there was nothing that could be done.

And since the current administration was nearing its lame-duck period, the influence of the National Economy Party carried even greater weight.

“To be frank, the shipping company big deal does seem feasible. Hyunjin Shipping and Hyundai Line are both drowning in deficits. If they find a strong parent company like Taewoo Group, I believe Korean shipping could grow much stronger.”

“If Hyunjin Shipping and Hyundai Line merge, we can negotiate with the global shipping alliances from a far stronger position. That’s why they must unite into a single entity. Only then will Taewoo Group’s solid capital base be able to exert its full power.”

Assemblyman Choi Jae-seok’s reaction to the shipping big deal was notably positive. He fully understood that if the shipping companies went bankrupt, the future of Korea’s shipping industry would turn bleak.

“I’ll add the Busan New Port project to our Yeongnam election pledges, along with the shipping company big deal. But the real issue is Saemangeum.”

“Saemangeum is the ideal location for a chemical complex. There are no residential areas nearby, the land is vast, and the sea makes transporting raw materials highly convenient.”

It was a perfect site.

Yet the very phrase ‘chemical complex’ carried enough danger to make Assemblyman Choi hesitate.

“Citizen groups won’t just sit quietly.”

“The name ‘chemical complex’ does sound unappealing. Then how about calling it a Core Materials Research and Production Complex instead?”

“That’s certainly much better than ‘chemical complex.’ But even if we change the name, civic groups won’t simply let it pass.”

“That problem can only be solved by the local residents themselves. If Taewoo Group takes the lead, negotiations won’t even get off the ground. But if the local people demand the complex, the justification shifts to our side.”

The power of local resident groups was far stronger than that of civic organizations.

No matter how determined a civic group was, nothing outweighed the cause of survival. And who could possibly win against residents willing to stake their survival on the fight?

“So what you’re saying is that we need to push the local residents into rising up.”

“That’s where the power of politics comes in.”

“Just one more thing I need to ask. The chemical complex won’t pollute the Saemangeum area or expose it to major safety risks, will it?”

“If you’re worried about something like the hydrofluoric acid leak in Gumi, you can rest assured. We plan to deploy all of Taewoo Group’s technological capabilities in building the complex. Taewoo Construction is one of the very few companies with the expertise to even construct nuclear power plants.”

Taewoo Construction’s technology was world-class. Only a handful of firms worldwide could build nuclear power plants, and Taewoo Construction was among them.

“If safety is guaranteed, then I’ll stake my political career on pushing this policy forward.”

“Then let me stake Taewoo Construction’s name on this promise. What you fear will never happen. And the moment the policy is approved, we’ll begin large-scale construction immediately.”

During election season, every politician threw out blank checks of promises. It was the very reason politicians had the reputation of never keeping their word. But Assemblyman Choi Jae-seok couldn’t afford to carry such an image—he needed to be seen as someone who always delivered on his pledges if he hoped to carry that momentum into a presidential run.

“Phew… my head already aches. Trying to secure both Yeongnam and Honam will take more than ten bodies.”

“Then perhaps I can prescribe you some headache medicine? A remedy with remarkably effective results.”

“If Chairman Kim says so, then I’m intrigued. What kind of medicine is it?”

“I’m thinking of pouring fuel onto the real estate market, which is just beginning to revive. As I understand it, the current size of real estate PF stands around 50 trillion won.”

“Last year’s PF volume was 48 trillion won, and projections suggest this year will be about the same.”

“Taewoo Group is considering injecting around 30 trillion won into real estate PF. For the sake of advancing Korea’s construction industry and stabilizing housing prices.”

Stabilizing housing prices and advancing the construction market? Truthfully, I couldn’t care less about those things. What mattered was that for at least the next five years, real estate prices would continue climbing. And if I wanted to profit and cash out early, now was the perfect timing.

“Thirty trillion won into the real estate market? That would instantly breathe life into the entire construction sector!”

“The financial firms housed in the Finance Tower, including Taewoo Securities, are planning to create large-scale PFs. But if the National Economy Party were to step in and organize such a massive PF, wouldn’t that have a major impact on your approval ratings?”

Thirty trillion won was by no means a small sum. Even for the ruling party, with the government’s backing, securing that kind of money would be no easy feat. But if the National Economy Party managed to attract an investment of 30 trillion won, it would naturally give their approval ratings a positive boost—no matter how slight.

“You’re not just offering me headache medicine—you’re giving me a cure-all.”

“Especially since the funds will be heavily concentrated in the capital region and the major metropolitan areas.”

“That’s a little daunting. With such tremendous help from you, Chairman, I fear I won’t be able to live up to expectations.”

“That will never be the case. Just keep doing exactly as you have been!”

Assemblyman Choi Jae-seok only needed to keep working hard under the spotlight. The National Economy Party would handle the positive narrative, while Captain Kang would take care of the dirty work behind the scenes.

***

The next day.

I summoned Vice Chairman Han and told him about what had transpired with Assemblyman Choi.

“So you’re saying we’ll be investing as much as 30 trillion won in real estate PF?”

“After all, even after our investments in Brexit, we still have massive sums left over, don’t we?”

“That’s true. Our Taewoo Securities staff have been struggling to find new avenues for investment.”

“Investing in real estate PF will yield much greater returns than bonds or bank deposits. Done right, we could expect close to a 30% profit.”

The oil war, the China short-selling campaign, and previous projects had all yielded at least double their investment. Compared to that, 30% might seem modest—but measured against Wall Street’s average returns, 30% was anything but low.

“There will probably be quite a few financial firms wanting to take part in the PF. Everyone’s pockets are flush with cash after their recent windfalls.”

“Vice Chairman Han, reach out to the firms and encourage them to join the PF. There’s no need to force the issue. Even if they don’t participate, our capital alone will be more than enough.”

“To be honest, I’d prefer if Taewoo Securities could keep the whole thing for itself. Finding suitable investment opportunities is never easy, after all. But still, out of principle, I’ll extend the offer to the Finance Tower firms.”

Once Taewoo Securities made a move, the entire Finance Tower would follow. Thirty trillion won could be raised in a single day, and there would even be firms lining up, eager to invest more.

Saemangeum, Busan New Port, and now real estate PF.

For this general election alone, more than fifty trillion won was being poured in.

With that kind of money, even if the National Economy Party wasn’t particularly well-liked, winning a majority in the Assembly was practically guaranteed.