Chapter 815: Chaebol’s Downfall

The joy of receiving a hard-earned paycheck, a yellow envelope filled with money, and buying a freshly fried chicken at the market, vanishes the moment you see a news story about chaebols on TV.

[Breaking News] KS Group Chairman Under Investigation for Embezzlement and Breach of Trust, New Slush Fund Discovered. Emergency Arrest and Detention Warrant Requested.

Choi Woo-sik, Chairman of KS Group, was under investigation at the Seoul Central District Prosecutors’ Office for embezzlement and breach of trust when a new slush fund was uncovered, leading to his emergency arrest.

Today, Choi Woo-sik appeared at the Seoul Central District Prosecutors’ Office for questioning regarding charges of embezzlement and breach of trust stemming from accounting fraud. He entered the office with a stiff face, refusing to answer any questions from the reporters.

However, during the investigation, a new slush fund was discovered. The Prosecutors’ Office broke its usual principle of non-detention investigation and made an emergency arrest of Chairman Choi Woo-sik.

Details about the size and source of the slush fund have not yet been released. The Prosecutors’ Office conducted a raid on KS Group at the same time as the emergency arrest.

Oh Hyeon-woo, Deputy Prosecutor in charge of the KS Group investigation, stated regarding the emergency arrest: “A new charge, not present initially, was discovered and we determined there was a risk of evidence tampering or destruction which led to the decision to make an emergency arrest and request a detention warrant.”

Chairman Choi Woo-sik is currently undergoing intense questioning at the Prosecutors’ Office interrogation room. His attorney is arguing for his innocence during the detention warrant request process.

This incident has caused a significant drop in the stock prices of KS Group listed on the KOSPI and KOSDAQ. Shareholders are demanding stability in the management of KS Group, a flagship company in the Korean economy, expressing concerns about the company’s uncertain future.

I checked the news articles on my laptop.

Starting with the internet, the evening newspapers all carried the news of Choi Woo-sik’s emergency arrest on their front pages.

I pressed the call button on my phone and contacted Oh Hyeon-woo.

― Yeah. Mu-hyeok.

“Are you busy?”

― I’m on a short break. You called at the perfect time. I was really happy when they said they were doing an emergency arrest.

Oh Hyeon-woo’s voice on the other end of the phone sounded pleased.

“How’s the reaction?”

― What do you think? He’s furious. I think he even slapped the legal team leader.

“Raised a hand in the Central District Prosecutors’ Office?”

― They said they didn’t record it, so I don’t know the full situation but his cheek was bright red. He said it was because it was hot. But in this cold winter, even with the heating on, how could it be hot? Who’d believe that?

“Are you sure about the evidence to request the detention warrant?”

― It’s irrefutable. It’s evidence from the woman he lived with plus recorded evidence of him trying to destroy it. There’s no problem with that. Besides it’s all over and done with.

“That’s good. You’re not the one directly requesting the detention warrant right?”

It wouldn’t look good for a married couple to request and accept the detention warrant.

― The Deputy Prosecutor is going instead of me. He was complaining about having to go to the court after so long.

“Okay. The media will keep hammering Choi Woo-sik. Don’t worry about it and don’t give him any preferential treatment. Just crush him.”

― That’s exactly what I wanted. You know what happened earlier? He told them to take care of the prosecutors separately once the questioning was done. Isn’t he crazy?

“That’s how chaebols are. Why get angry when you already know that?”

― Hah… I need to go back in. I’ll call you again once the detention warrant is issued.

“Okay. Let’s talk again later.”

As soon as I hung up with Oh Hyeon-woo, I called Han Min-kyung.

― Yes, Mu-hyeok.

“Min-kyung, you must be swamped?”

― Well yeah, I’m checking the documents from the Prosecutors’ Office. I’d say anyone would issue a detention warrant not just me.

“I’ve made sure that he can’t escape. You know me. I never leave loose ends.”

― Sigh… If only you couldn’t talk. The higher-ups have already ordered for the detention warrant to be issued. Don’t worry. Everything will be fine.

“I’m not worried. It’s your work. Let’s have dinner with Hyeon-woo once you finish work. I was a little upset that you didn’t come last time.”

― I’m really busy these days. I’ll contact you later when I have time.

“Okay. I’ll hang up. Good luck.”

As I put down my phone, the doorbell rang. Shortly after, I heard Myeong-su and Hyeon-seong’s voices.

I spoke abruptly to the two who opened the door without knocking.

“Can’t you knock?”

“Knock? What happened in the early morning?”

Myeong-su slumped onto my bed.

“I handled it quietly. That bastard won’t be able to show his face in Yeongdo again, so it should be fine.”

“Oh really? Seems like it ended well. Seeing your expression, I thought you were going to kill someone.”

“Was I?”

“What do you mean was I? Hyeon-seong, you saw it right?”

Hyeon-seong, who was standing, nodded his head.

“It’s been a long time since I’ve seen that look.”

“Is that so.”

I was annoyed that our rare fun drinking session had been ruined.

No, usually, I don’t show my emotions so easily. These guys know me too well.

“That Jeong Han-cheol bastard has been a nuisance, I knew he would do something like this one day. He never changes even as he gets older.”

Myeong-su openly expressed his disgust towards Jeong Han-cheol.

“Do you hate him that much? I’ve never seen you hate anyone this much.”

“Don’t you remember? How much money did I lose to that bastard? Did he only take money? He even took my shoes and clothes. That’s why you beat him up.”

“I don’t remember.”

“Whatever! So? How did you solve it?”

I summarized what happened.

“What? He’s just a pushover, isn’t he?”

“That’s the conclusion.”

“Tsk. He can’t come to his senses. What is he going to do later if he keeps living like that?…”

Then Hyeon-seong tossed a comment.

“You said you hated him yet you’re worried about him? Pick one thing, just one thing.”

“No! Who is worried about him? If a guy like that roams free, the world becomes a dangerous place.”

They soon started bickering. Even as they got older, these guys didn’t change.

I shook my head and stood up from my chair.

“When are you going back to Seoul?”

“I’m planning to go back tomorrow. Hyeon-seong said he’s going back tomorrow as well. What about you?”

“Me? The day after tomorrow? Well, I’m going to rest for now.”

“What, won’t you have a drink?”

“It’s my last day, I’m going to spend it with my family.”

“What’s the big deal about spending time with your family? Let’s have a simple drink nearby.”

“No thanks.”

“Ah, Kim Mu-hyeok is being difficult again.”

“I’m always difficult.”

I chased the whining Myeong-su out of the room. After sending them away, I laid on the bed and took a short nap.

* * *

Late at night.

A detention warrant for Choi Woo-sik was issued. The area in front of the Central District Prosecutors’ Office was crowded with people trying to get a picture of Choi Woo-sik as he headed to the detention center.

“This is reporter Kim Mi-yeong. We have breaking news regarding the case of KS Group Chairman Choi Woo-sik.”

On one side of the screen, a video showed Choi Woo-sik’s vehicle heading towards the court. The reporter continued speaking.

“This case, which began with Choi Woo-sik’s embezzlement and breach of trust charges, is becoming more complex with the addition of new slush fund allegations.”

At that moment, Choi Woo-sik was captured on camera as he left the Prosecutors’ Office.

The live broadcast cut off the recorded video and focused on Choi Woo-sik.

Choi Woo-sik, with his handcuffed hands hidden by his clothes, exited the entrance of the Seoul Central District Prosecutors’ Office. Outside, not only were there reporters, but also members of civic groups.

Reporters attempted to interview Choi Woo-sik by shoving cameras and microphones in his face.

― Chairman Choi Woo-sik, please state your position on this incident!

Choi Woo-sik ignored the reporters and walked haughtily toward the transport vehicle.

But the reporters didn’t give up.

“Chairman, do you admit to the new charges?”

At those words, Choi Woo-sik stopped. Then, with his handcuffed hands, he pushed away the microphone.

The impact caused the reporter’s microphone to fall to the ground.

Choi Woo-sik didn’t stop there; he shoved the reporter’s shoulder.

“Get lost! Why do I have to be seen like this! I am Choi Woo-sik! Choi Woo-sik of KS!”

Flashes went off like crazy. The bodyguards standing guard moved to protect Choi Woo-sik as he started his rampage.

But the reporters weren’t going to back down so easily.

Although the microphone had fallen to the floor, they had many more.

“Chairman! The public is curious. Please answer!”

Choi Woo-sik became enraged by the constant questioning and shouted.

“I am Choi Woo-sik! Choi Woo-sik!”

The Legal Team Leader, who was standing beside him, whispered quietly.

“Chairman. There are a lot of cameras. Please calm down…”

Despite the Legal Team Leader’s advice, Choi Woo-sik couldn’t control his anger. He eventually slapped the Legal Team Leader’s face with both hands.

It was beyond the point of claiming it was a mistake. The Legal Team Leader fell to the ground and prosecutors’ investigators who couldn’t stand to watch it any longer, grabbed his arms to restrain him.

“This is a conspiracy! It’s a conspiracy!”

Choi Woo-sik, who was a large man, began thrashing his arms and the investigators struggled to control him.

The Legal Team Leader who had been lying on the floor got up and wiped the blood flowing from his mouth.

The Legal Team Leader, after confirming the blood on his hands, bit his lip and spoke.

“Chairman, please calm down. This is not good for public opinion.”

“Who cares about public opinion! What do those pigs know! How have I contributed to the national economy! I just created a small slush fund and now I’m being arrested?”

At that moment, Oh Hyeon-woo and Yoon Hyun-joo came out of the Central District Prosecutors’ Office.

Yoon Hyun-joo was there as a witness.

Some of the reporters rushed toward the two.

Yoon Hyun-joo’s bodyguards blocked them, but Yoon Hyun-joo shook her head and spoke to the bodyguards.

“Let them through. Don’t block the reporters.”

At Yoon Hyun-joo’s command, the bodyguards took a step back, but didn’t relax their guard.

“Director Yoon Hyun-joo, what is the reason for your visit to the Central District Prosecutors’ Office today?”

Yoon Hyun-joo looked at Oh Hyeon-woo, and he nodded, signaling that it was okay to speak.

“I came to the Central District Prosecutors’ Office today as a witness.”

“Are you also involved in this embezzlement, breach of trust, and slush fund allegations?”

“Me? Of course not. I testified about all of my husband’s illegal activities. If we leave it as is, KS Group will crumble.”

The reporters’ faces showed surprise at the answer. The place became more chaotic with the sound of murmuring.

“Is that true? Are you saying that you reported Chairman Choi Woo-sik?”

“I just answered the prosecutors’ questions with the facts. If that is considered reporting, then I suppose that’s what it was.”

Oh Hyeon-woo interrupted the reporters’ Q&A with Yoon Hyun-joo.

“Reporters, please wrap it up. Details will be in a press release soon. Director Yoon Hyun-joo is not suspected of any crime. She simply cooperated with the Prosecutors’ Office as a witness. She needs to get going now, so please clear a path.”

Oh Hyeon-woo spoke with a smile, but the underlying pressure caused the reporters to hesitate.

“The press release will be out soon. And I will give a mid-investigation report myself later. So, let’s let those who are tired from the witness testimony leave for now.”

Eventually, the reporters awkwardly backed off. Oh Hyeon-woo and Yoon Hyun-joo walked down the stairs together.

Yoon Hyun-joo raised one corner of her mouth in a smirk towards Choi Woo-sik who was staring blankly at her, his hands in handcuffs.

“You! You!!”

In a flash, Choi Woo-sik’s eyes turned and he pushed aside the investigators and lunged towards her.

But he couldn’t reach Yoon Hyun-joo. Oh Hyeon-woo, as if expecting his attack, intervened and grabbed his arm. He slammed Choi Woo-sik onto the ground.

“What are you doing! If the suspect acts out, follow the manual! Why does the Prosecutors’ Office even exist if you give preferential treatment to the chaebols!”

Oh Hyeon-woo yelled, and at his words, the investigators, with stiff faces, restrained Choi Woo-sik, who was still struggling on the ground, and dragged him to the bus.

All of this was broadcast live across the nation.