Chapter 94: The Tides of Investigation

“Oppa, you know… my dad is getting out next month, right? I was hoping we could have him at home…”

It was a struggle for her to bring it up, glancing at me for reassurance.

“Just take care of it. Why are you looking at me like that?”

“But still…”

I playfully ruffled Cheon Ji-young’s hair, trying to lighten the mood.

“Hey!”

“Look, just do what you want. I just don’t want to get involved with your dad, and I hope you understand that.”

“I get it. Thanks, Oppa.”

She visibly relaxed, as if a weight had been lifted off her shoulders after finally confiding in me.

In the end, Cheon Su-han decided to wrap things up here.

“Do you see your other cousins often?”

Ji-young shook her head, still sipping her drink.

“No, we’ve lost touch. To be honest… it’s like a severed connection for us. Our maternal side is no different… But it’s not the same with Ji-soo and Oppa.”

Grandfather seemed furious about Cheon Su-han’s involvement in the slot machine incident, using all his power to dismantle Ji-young’s maternal family.

This was a clear example of how far a politician could fall when their career ended.

“I may not have a strong relationship with them, but you shouldn’t either, right?”

My mouth felt dry.

I thought my lack of help wouldn’t matter, but hearing that Ji-soo and Ji-soo had cut ties with Ji-young didn’t sit well with me.

“We were never that close anyway. I’m fine as long as I have you, Oppa.”

How could I deny the cheerful smile of this girl?

“Is there anything you want to do?”

“Hmm… I’ve always wanted to be a singer.”

“Can you sing well? Being a singer isn’t just for anyone, you know. Do you really want to try?”

“Well, I haven’t been told I can’t sing anywhere, but my mom is against it.”

“If you need help, just let me know. I’ll be here for you.”

“Yeah, thanks!”

After wrapping up my chat with Ji-young, I headed upstairs and casually mentioned to Ma Seok-dae,

“Manager, I think it’s time to ease off the pressure on Cheon Su-han. Please get in touch with him.”

“Alright, boss.”

“When is Black Bear coming in?”

“They said they’d send staff next month. The corporate establishment is already sorted out.”

“We need to hire people in Korea too.”

“Eric said he’d handle it. The special forces here have quite a reputation among mercenaries.”

“Got it.”

Eva had a tough time, but she successfully negotiated a buyout with Peregrine under favorable conditions.

Boss, what should we do about the bonds tied here?

“Do you have someone to manage in Hong Kong?”

Hmm… we do, actually.

“Just maintain the status quo. There’s no need to negotiate with countries holding bonds, including Indonesia. We’ll be able to collect in a few years since we needed the Peregrine name.”

Okay, boss.

Eva chirped cheerfully.

Then I’ll recruit someone from HSBC who used to lead the risk management team. Even if they aren’t aggressive investors, they’re exceptional at risk management.

“When are you coming to Korea?”

Next week.

“What about real estate purchases?”

We’re forming a dedicated team to buy buildings that have dropped more than 50% since 1996.

“For Eunmi Apartments, don’t worry about the price; just buy everything as it comes up.”

Understood. I’ve already given those instructions. Surprisingly, a lot of large buildings are hitting the market, so we’re still waiting.

I urged Eva, who was humming happily.

“Once you’re in Korea, there will be urgent tasks to tackle. We’ll need to utilize the mafia connections we’ve brought in; let’s discuss the details once you arrive.”

I hung up with Eva.

Right now, there were restrictions on foreign ownership of real estate, making proper purchases difficult. So I was circumventing this by establishing a real estate corporation to make the buys.

Still, once the Kim Hak-gwon administration took office, the real estate market would fully open up, so I just had to hold on for a little while longer.

Time passed, and the day of the presidential inauguration arrived.

I sat in my room, absorbed in thoughts while watching the inauguration ceremony.

Preparatory work to take over Jungwoo Group was already in its final stages.

I’m Kim Hak-gwon, and I’m taking office as the president at a time when the Korean economy is facing an unprecedented crisis…

Behind President Kim Hak-gwon, I spotted Han Gyeong-yeong while he delivered his inaugural speech in front of the National Assembly.

‘He’s definitely someone who knows how to work the cameras well.’

To the right, former presidents were also present.

Kim Hak-gwon had quickly come to an agreement to pardon the imprisoned presidents from the previous year for national reconciliation.

After the inauguration ceremony ended, I turned off the TV as the car parade began.

I picked up the phone and called President Yoon.

“President, I hope you’ll make your move tomorrow. Are you all set?”

Everything’s ready. The Supreme Prosecutors’ Office’s special investigation team will move in right away. The real concern is the president’s reaction, but we plan to make emergency arrests immediately. We need to catch Park Dae-ho while he’s still in the country for the inauguration.

Park Dae-ho, who usually spent most of the year abroad, was in Korea to attend Kim Hak-gwon’s inauguration.

“Yes, that’s why I set the D-Day for the day after the inauguration. The media will be focused on the ceremony today, and we’ll start raising suspicions in the morning papers. Move in on Jungwoo’s headquarters first thing. The warrant will be issued immediately, and I’ve already talked to the court about it.”

As long as the warrant comes out on time, we can move before any rumors spread.

“We need to wrap this up before the president can exercise his authority. He’ll likely hold off for a bit because of public opinion.”

We’re definitely getting support from abroad, right?

“There will be foreign capital interested in hostile takeovers of major subsidiaries of Jungwoo Group.”

Let’s touch base again tomorrow.

“Understood. If we handle this well, I’ll send you seasonal fruits as a gift, so please give them to your wife.”

Haha, she’ll love that. I’ll hang up now.

As soon as I ended the call with President Yoon, I dialed another number.

“Chief Justice Oh, it’s been a while. How have you been?”

Yes, it has been a while.

It was Chief Justice Oh Jeong-seok on the line.

“The matter I mentioned last time should start tomorrow. Please reach out to the court.”

Are you referring to Jungwoo Group?

“Yes.”

Got it. I’ll make the necessary arrangements.

“Thank you. Once this is settled, I’ll come to visit. Your role is crucial. We can’t let foreigners take the wealth of Korea, can we? In a few years, you’ll be remembered as the protector of Korean assets.”

Hahaha.

While I couldn’t directly influence Chief Justice Oh Jeong-seok, judges both former and current linked to him would secure positions in the various companies I planned to acquire, including Jungwoo Group.

After ending my call with Chief Justice Oh, I reached out to Yoon Hyung-min, the representative of Yun & Jang.

“Father, it’s been a while.”

Mu-hyeok, is tomorrow finally the day?

“Yes, you’ve spoken with Future Investments, right?”

I have a feeling the fees will be substantial. Foreign capital is definitely making its presence felt.

Yoon Hyung-min chuckled on the other end.

“This is just the beginning. We need to initiate various lawsuits. Just give full support to Future Investments.”

Understood. I’ve formed a dedicated team, and it consists of our company’s top talents. They’re skilled at dragging out lawsuits for as long as possible.

“Thanks, Father.”

Jungwoo Group… this is going to be exciting.

The conversation with Yoon Hyung-min ended.

A full-scale assault was underway, utilizing every connection I could muster.

It wouldn’t be easy to swallow a conglomerate in Korea just because I had money.

Even in my previous life, those speculative capitals had to settle for acquiring just a few companies.

Lone Star, acquiring the Foreign Exchange Bank, quickly adapted, employing Koreans for extensive lobbying and bribery.

However, other hedge funds and investment banks didn’t think that way; they attacked Korea head-on.

They were ignorant of Korea, and that was their fatal mistake.

* * *

The day after President Kim Hak-gwon’s inauguration, both a search warrant and an emergency arrest warrant for Chairman Park Dae-ho were issued simultaneously.

The headquarters of Jungwoo Group in front of Seoul Station was thrown into chaos by officials from the Prosecutors’ Office and the National Tax Service.

Chairman Park Dae-ho was unable to respond and had to be dragged to the Supreme Prosecutors’ Office from his home.

In the interrogation room at the Supreme Prosecutors’ Office,

Chairman Park Dae-ho had come in willingly, yet he sat alone, arms crossed and legs crossed, as if completely unconcerned.

‘What on earth is happening all of a sudden?’

A simultaneous search of Jungwoo Group and a tax investigation by the National Tax Service couldn’t have happened without the President’s approval.

The three major investigative agencies of the Republic of Korea.

Prosecutors’ Office, National Tax Service, Board of Audit and Inspection.

‘There’s no reason for Kim Hak-gwon to do this to me. Who is it, really?’

As Chairman Park Dae-ho pondered, the interrogation room door opened.

He turned his head to look at the door.

“What the hell? Who’s this young punk coming in? Trying to mess with me? Get the head of the special investigation team in here!”

A young prosecutor he had never seen before entered.

Chairman Park Dae-ho scowled and shouted, but the young prosecutor sat down in front of him without a flicker of expression.

“What? Can’t you hear me?”

“The chief is busy. I’m your contact today. Nice to meet you, I’m Oh Hyeon-woo.”

Oh Hyeon-woo smiled and greeted Chairman Park Dae-ho.

“How long have you been a prosecutor? You look like a rookie to me.”

Despite Chairman Park Dae-ho’s continued arrogance and dismissal, Oh Hyeon-woo kept smiling and continued speaking.

“Chairman Park Dae-ho, you are currently under investigation for fraudulent loans through creative accounting and embezzlement, among other charges.”

“What? What are you talking about?”

“Well, Chairman Jang of Hyeonbo Group was quite respectable, but we were surprised to find Jungwoo Group in such a dire state during our investigation.”

While Oh Hyeon-woo bantered, Chairman Park Dae-ho’s mind raced.

‘This feels like they’re coming at me with intent. Is Kim Hak-gwon trying to take me down?’

Oh Hyeon-woo powered on the laptop from Il-sung Electronics in fronnt of him, preparing for the investigation.

“Is your name Park Dae-ho?”

Park Dae-ho snapped out of his thoughts at Oh Hyeon-woo’s question and glared at him as if he wanted to kill him.

“Enough! Get me a lawyer. Can I use my phone?”

“The legal team at Jungwoo Group is likely overwhelmed. It’s not just you; a tax investigation is sweeping through all subsidiaries of Jungwoo, and investigators from the Prosecutors’ Office are dispatched everywhere.”

“…Get in touch with Yun & Jang.”

“Just a moment.”

Oh Hyeon-woo took out his phone and called Yoon Hyung-min.

“Yes, it’s Oh Hyeon-woo. Sir, Chairman Park Dae-ho wants you to contact Yun & Jang. Let me pass you to him.”

Oh Hyeon-woo calmly handed the phone to Chairman Park Dae-ho.

“This is Yoon Hyung-min, the lead attorney for Yun & Jang. Please speak with him.”

Chairman Park Dae-ho snatched the phone and immediately spoke.

“Hey, Yoon, it’s Park Dae-ho from Jungwoo. How have you been?”

― “Ah, Chairman Park! It’s been a while. What’s going on? Is it the Prosecutors?”

“Right, it’s urgent. I need your help. I’ll pay handsomely for your services.”

― “Hmm…”

“Listen, Yoon, the country is falling apart. No one’s in their right mind!”

― “I’m sorry, Chairman, but we are currently engaged in another matter. It creates a conflict of interest for us to assist you right now.”

Chairman Park Dae-ho seemed stunned into silence by Attorney Yoon Hyung-min’s words.

― “I apologize, Chairman. I’ll reach out next time.”

“Yoon…”

The call ended.

Disappointment washed over Chairman Park Dae-ho’s face.

“Are you done with your call?”

Oh Hyeon-woo grinned as he received the phone back, while Chairman Park glared at him as if he wanted to kill him.

“You… You know what’s going on, don’t you? Who’s behind this? Who’s targeting me?”

“What would a lowly prosecutor like me know? Shall we wait for your legal team, Chairman?”

Watching Oh Hyeon-woo, who acted like he didn’t care, Chairman Park Dae-ho began to realize that he wouldn’t easily escape this predicament.

* * *

― Hey, Mu-hyeok, the legal team from Jungwoo Group just rushed in.

“Hyeon-woo, you’re on this, right?”

― “This isn’t a case I would take, but orders came down from above, and I didn’t expect to see you here, Mu-hyeok.”

“Make sure you handle this properly; it could be significant for your career. Don’t let him slip away!”

― “Sure, I’ll keep you updated throughout.”

“Once this is over, let’s gather the friends for a drink. It’s been a while.”

After ending the call with Oh Hyeon-woo, he turned to Eva.

“Let’s get started right away.”

“Okay, boss.”

Eva stood up and began making calls.

That evening,

the news of hostile takeover talks regarding the major subsidiaries of Jungwoo Group by Future Investments dominated both the evening papers and news broadcasts.

This was the first time since the IMF crisis that such an event occurred, targeting one of Korea’s largest corporations.

The Republic of Korea was shaken to its core.