CH99 | MCT

Taeyang Group (2)

As Secretary Park’s report continued, Han Cheong-ho slammed his fist down on the desk.

“Kang Tae-soo— that bastard is launching a chaebol group?”

“Yes.”

It was unbelievable.

He had locked down all bank loans, so how on earth had Tae-soo managed to grow so much?

“That slippery eel! Somehow slipped through without a loan!”

But once the eel slips away, all you have to do is catch it again.

If you cast a wide enough net, it won’t escape next time.

“Let’s start making calls too!”

“What calls…?”

“Call around saying we’re holding a groundbreaking ceremony for the Cheongil Hotel!”

Han Cheong-ho smiled meaningfully.

“On the same day, same time, we’ll hold our own groundbreaking ceremony. Tell me, who do you think people will choose? Kang Tae-soo or me?”

Han Cheong-ho was an established titan, long standing as a towering chaebol.

Compared to him, Kang Tae-soo, rising as a new chaebol group, was no match.

Not in company size, influence, capital, or name recognition.

Nothing could compare to Han Cheong-ho.

“This time, we’ll show them clearly who’s on top!”

Kang Tae-soo’s Taeyang Group launch ceremony would be a flop, with barely a soul attending.

At Jang Maldong’s house in Myeongdong.

In the sweltering heat of August, Jang Maldong was vigorously fanning himself.

“What brings you here at this hour? The guy who’s always buried in paperwork and never shows his face at this time?”

“Please lend me some money.”

“What? Money?”

Jang Maldong leapt at the opportunity.

Lending money was both his specialty and his business.

With a bright smile and twinkling eyes, he asked,

“Is it a private loan or a bank loan?”

“Even after setting up a bank, you’re still playing with private loans?”

Since the freeze on private loans, the loan market had shrunk considerably.

Still, in the shadows, private lending thrived quietly.

Though not on the previous grand scale, small amounts were circulated enough to earn some decent pocket money.

“But why do you suddenly need money? I know better than anyone—you’ve got plenty.”

“I’m short on reserve funds.”

Jang Maldong’s eyes curved into a crescent smile.

This situation pleased him greatly.

“The money taken from Park Jeong-hwan’s secret vault must be quite substantial, right?”

“You know well—that’s already spent on company acquisitions.”

“That doesn’t add up.”

Jang Maldong slammed his fan down hard on the low table.

“You raided the secret vault, haven’t you? You, who own so much money and property. Yet you say you only acquired seven companies so far, and now you claim you’re out of money? Doesn’t make sense.”

“Who said it’s only seven?”

Tae-soo grinned.

“That’s just in Korea.”

Jang Maldong’s eyes narrowed.

“What do you mean?”

“Don’t you know my situation?”

He did know.

How could he not?

“My foundation is nothing special. Even with the construction contracts I won in Saudi Arabia, most of the amounts are more or less known.”

Molybdenum and limestone mines.

Cement factories, Taeyang Construction, Taeyang Trading.

And the heavy equipment and refinery companies wrested from Cheongil.

“Even though Taeyang Refinery and Heavy Equipment made good profits thanks to the oil shock, how can I compare to the other chaebols who control oil supply?”

“That’s true.”

“Besides, all the banks uniformly refused loans. Private lending has also shrunk drastically.”

“That’s all common knowledge, isn’t it?”

“That’s exactly the problem.”

Jang Maldong’s eyes widened.

Tae-soo continued explaining.

“Everyone knows there’s nowhere to get money from, so what funds could I possibly have to buy more companies outright with cash? Wouldn’t the Central Intelligence Agency or tax authorities come knocking immediately?”

“So you say you bought only a few companies just because you were watching your back?”

This guy isn’t the type to hold back like that.

When opportunity comes, he’s the kind to dive in and go all out.

“So you’re saying the rest of the slush fund is hidden in your pocket, then why claim you have no money?”

“Like I said earlier, I spent all that money acquiring companies.”

Only then did Jang Maldong catch on.

“Oh, so you spent it buying overseas companies.”

“Yes.”

“What kind of companies did you spend so much money on?”

“Banks.”

“What?”

Is he saying he bought overseas banks now?

“If there’s no path, you make one. If there’s no road, you build it.”

Tae-soo spoke bluntly.

“I needed a bank, but there was none available, so I just bought one.”

Jang Maldong’s mouth dropped open.

“Who on earth comes up with the idea of buying a bank just because there isn’t one?”

Instead of blaming circumstances, you create your own path.

“Han Cheong-ho and Park Jeong-hwan are trying to tie my hands and choke me, but I’m not going to just sit and take it.”

Without raiding Park Jeong-hwan’s secret vault, there was no way through.

“Strictly speaking, I didn’t actually buy it myself. Laws separating financial and industrial capital are similar overseas too.”

Separation of finance and industry — a law intended to prevent financial risks spreading from unhealthy companies to the broader economy.

“Park Jeong-hwan and Han Cheong-ho abused those laws to torment me, so I had no choice but to find a way around it.”

“Hmm, looks like I’m in the same boat—coming out from the shadows into the light, forced to watch my back from Park Jeong-hwan.”

Having suffered Park Jeong-hwan’s tyranny, Jang Maldong understood Tae-soo’s determination.

“A trusted person overseas will support me through their bank. Soon, we’ll establish a branch in Korea and enter the domestic market as well.”

“Who is this person? I don’t think it’s Han-soo.”

“A foreigner.”

Tae-soo smiled faintly.

“The right person happened to be staying overseas. Since he couldn’t come back to Korea anyway, he ended up becoming a foreigner altogether.”

Tae-soo was waiting for his contact’s message.

For news that everything was settled.

“Still, buying a bank… huh…”

“Didn’t you yourself establish a bank, sir? Acquiring one is cheaper than starting from scratch.”

The whole world was turned upside down now.

Crisis was just another word for opportunity.

“The first global oil shock shook the entire world as well. The oil companies that used to suck profits from Middle Eastern oil producers were kicked out, and stock prices plummeted daily.”

“That’s true.”

“Because industries based on oil were booming, the economic damage was even worse than in Korea.”

“So?”

“When European oil companies and their stocks went bankrupt one after another, the banks failed too. I bought them.”

Jang Maldong’s eyes gleamed.

“So you spent all your slush funds buying foreign banks?”

“I probably will spend it all. I’ve just finished acquiring an American bank. Now I’m looking into banks in the UK, Japan, and Hong Kong as well.”

“Huh…”

That was why Tae-soo was so confident.

“Park Jeong-hwan can only meddle with domestic banks, after all.”

This was the reason Tae-soo reached out to overseas banks.

“For a businessman, trying to run a business without any bank loans is an impossible demand.”

“That’s right.”

“But Park Jeong-hwan demands exactly that from me.”

In fact, Park Jeong-hwan forbade any loans or investments related to Taeyang.

Even those who brought investment funds hurriedly backed out.

“I have plenty of collateral to offer.”

Not that he needed to pledge it.

Tae-soo’s businesses were solid, debt-free, blue-chip companies.

“When you need to expand, upgrade facilities, or develop new sectors, you always need a large sum. You can’t grow without investment.”

That’s why Han Cheong-ho went looking for a bank first.

And why Park Jeong-hwan banned loans from the bank.

“There’s collateral, yet no loans. I need cash to expand but am stuck empty-handed. Could I just watch that happen?”

“So you’ve been holding your breath for half a year, waiting for this moment.”

Tae-soo smiled softly.

“That’s why my reserve funds are low. When the time comes, I’ll need some help.”

Tae-soo repeated his initial request to Jang Maldong.

“Please lend me some money.”

Jang Maldong chuckled.

“All right. What’s the collateral?”

Jang Maldong always starts with collateral, whether then or now.

It hasn’t changed.

It’s like an occupational habit.

“Shall we start the old negotiations again? From interest rates to all the details?”

“No way!”

Jang Maldong gritted his teeth.

You want me to go through that crazy routine again?

“Sir, didn’t you pay the proper commission when I brokered weapons deals in Saudi Arabia?”

“......”

Jang Maldong was at a loss for words.

He never paid a commission.

He just took the money and washed his hands of it.

“Then did you at least pay me for the intel I provided that the Western oil companies would soon collapse? Did you claim the share of investment profits I contributed to?”

“......”

No, he didn’t.

Even though it was valuable information, Tae-soo just handed it to Choi Muryong to catch without any compensation.

Thanks to that, Jangsoo Bank made quite a profit.

And Jang Maldong pocketed all of it alone.

“I even laid out a detailed plan for catching Choi Muryong. Did I get paid for that?”

“......”

Nope.

Unfortunately, Han Cheong-ho interfered and pulled dollars from Choi Muryong’s bank, so even Choi Muryong’s bank didn’t get a cut.

If only they had taken over Choi Muryong’s bank then, they could at least have split the profits as promised.

“You made a lot of money with the Cheongil Heavy Equipment papers, right? Thanks to the list from Park Jeonghwan’s vault, you squeezed quite a bit of cash from those pro-Japanese bastards?”

“......”

“You call that an alliance? Then why do you treat me like an outsider demanding collateral?”

“Well, where else do you lend large sums without collateral?”

“It’s an investment. How about you invest in me this time?”

“......”

Jang Maldong was repeatedly left speechless.

At that moment, the door slid open, and Ahn Jungwoo entered wearing hanbok.

“Cut it out, will you? You’re driving the poor guy into a corner.”

“Welcome.”

Ahn Jungwoo strode over to Jang Maldong’s seat.

Jang Maldong quickly made room.

Now Tae-soo knew their ranks well enough that he didn’t bother hiding it anymore.

“How much do you need?”

“More than I expected. How much can you lend?”

“More than you think.”

Honestly, Tae-soo was surprised.

He hadn’t expected them to lend so willingly.

He had only hoped for a somewhat favorable deal under the name of alliance.

“Everything you said makes sense.”

Ahn Jungwoo spoke frankly.

“Thanks to you, we sold a lot of weapons and military supplies, and made good profits on oil company stocks. Even your brother’s investments have done well.”

Ahn Jungwoo liked Tae-soo.

He trusted him as a comrade.

He was also pleased with Tae-soo’s bold moves.

“I’ll invest in you.”

Not even a loan, but an investment.

“We laundered the money from arms trafficking and now Jangsoo Bank has quite a bit of surplus cash.”

“You know I’m banned from getting bank loans, right?”

“I do.”

“It’ll be tough if Park Jeonghwan takes a hard line against me.”

“I’m ready.”

It was a tough problem, but he said it too easily.

So Tae-soo became suspicious.

— No favor is free, not even pork.

If someone offers to buy beef willingly, you can’t help but wonder about their motives.

Tae-soo asked honestly,

“What do you want from me?”

“I want many things. First, I want you to become my son-in-law.”

That was impossible.

“I’m not the type to marry just for money.”

“I know. So don’t ask what I want. Ask what I want you to do. What can you do for me?”

“I can do a lot.”

Money and power don’t solve every problem, but they solve many.

Add skill and resources, and you can solve almost everything.

“What I can do now, I’ll do now. What I can’t, I’ll do later. That’s why I asked what you want.”

“Haha, you’re saying you’ll do anything except get married, huh?”

“I know you won’t ask for the impossible. So I can fulfill most of what you want. The only issue is how long it will take.”

Tae-soo was confident.

“Taeyang will establish a planning and coordination office and launch itself as a conglomerate group. That means there will be many more things we can do than now.”

“I know. I already received the invitation to the Taeyang Group launch ceremony. Well, with 16 subsidiaries already, it’s time to become a true conglomerate.”

Ahn Jungwoo nodded.

“I recognize your ability.”

Tae-soo was set to become a conglomerate company after only two years of business.

Even Geumsan, the symbol of self-made success, hadn’t grown this fast.

“That’s why I’m investing in you. I want to buy your future. This time, I want to benefit from you.”

“If that’s the case, I’m happy to accept.”

Tae-soo nodded willingly.

“We will raise Taeyang Group to become Korea’s top conglomerate. When that time comes, your investment will shine greatly. I can promise that.”

“So confident. I like that.”

Ahn Jungwoo laughed heartily.

Tae-soo said,

“Since you’ve decided so firmly, I’ll tell you how to support me without incurring Park Jeong-hwan’s wrath.”