Chapter 211: The End of Playing with Money is Ruin, But I’ll Rebuild It

“I’ve told those guys countless times, the end of playing with money is either losing it all and being ruined, or making money but still being pointed at and scorned by everyone.”

He still didn’t approve of the credit card business. He failed to grasp the changing times, where credit cards were replacing cash. Then again, I doubted he even remembered the last time he carried a wallet and spent his own money.

All it took was a word, and his secretaries would take care of everything. I wouldn’t be surprised if he’d forgotten how money even came to be.

Perhaps because it was a card company, he might think bankruptcy was no big deal. If it were another manufacturing subsidiary, there would have been hell to pay.

“We’re on the verge of ruin, but I will tear it down and rebuild it. Sturdily.”

“Of course, you should.”

“Pardon?”

“Selling high when things are good and buying back when it’s failing is foolish. You must have a different vision in mind, or why else would you do it?”

“You’re right. I intend for the card business to play a significant role in Soonyang’s financial sector. And….”

I glanced at him, and my grandfather narrowed his eyes.

“This one’s got something else up his sleeve. What is it?”

“Actually….”

I explained in detail everything that had happened in the past day: the urgent meeting with the Financial Services Commission, the issue of collateral for the card company, and the deal with Vice-chairman Jin Young-gi.

Even after I finished speaking, my grandfather remained silent for a while.

After waiting for some time, I spoke first.

“Are you alright?”

“Huh? What do you mean?”

“You weren’t saying anything.”

“I was just speechless at how foolish my son could be when blinded by greed. Ha ha.”

I spoke to my grandfather, who couldn’t hide his disappointed expression.

“That’s not it. If I could secure 7% of the group’s shares, I wouldn’t hesitate to throw that much money away either.”

“That’s not the kind of foolishness I’m talking about. It’s why he didn’t think like you. He should have focused on Soonyang Card, even if it was uncertain whether it could be revived with a transfusion. That guy Young-gi is only looking at the stock price.”

Unless someone has lived two lives, it’s impossible for anyone to think like me. A genius who can predict the credit card crisis four years in advance isn’t easily found.

“I was just lucky. As you know, I’ve always had incredible luck.”

“Enough with the modesty. Learn from your uncles’ mistakes. When greed takes over, you’ll get lost even with a map right in front of your eyes. Remember this. If your only reason for wanting to become the Chairman of Soonyang is just the title itself, you’ll never become the master of this study.”

“Isn’t it natural to be greedy when aiming for such a high position? I can understand my uncles.”

“The goal shouldn’t become the purpose. If it does, you won’t hold this seat for long.”

No, I will hold it. Tens of thousands of Soonyang employees will make my position even more secure. Even Jin Young-gi, whose only goal was to pass down the inherited Soonyang Group to his children, kept his place in the study, and perhaps his son, Jin Young-jun, will too.

Those were words I kept to myself. Instead, I nodded deeply.

“I will keep that in mind.”

“Shall I make a few calls for you?”

My grandfather asked, his expression softening.

“What kind of calls are you talking about?”

“To help you get rid of that piece of trash, Soonyang Card, cleanly.”

My mind raced.

How would high-ranking officials interpret my grandfather’s words?

Would they feel pressured to reduce the debt? Wouldn’t it be an unnecessary burden for them, considering they had to be mindful of the new administration?

Or, what if they interpreted it the opposite way?

I quickly gathered my thoughts and spoke.

“Just a quick interim announcement that strong measures will be taken… No, never mind. I’ll handle it myself.”

“Goodness, why are you always scheming?”

My grandfather picked up the receiver.

“Tell the Chief Economic Secretary that I have a petition. Tell him it’s urgent, and I’d like to discuss it over tea this afternoon. Yes, tell him to meet me in Myeong-dong, near the Blue House.”

Grandfather hung up the phone and winked at me.

Myeong-dong meant the Soonyang Hotel in Gangbuk. I quickly took out my phone.

“Quickly arrange a private meeting place. Secure a discreet route to avoid drawing attention.”

I hung up and looked at my grandfather.

“I’ll escort you. Since you’re meeting this afternoon, would you like to have lunch with me? I’ll have it prepared at the hotel.”

“Why would I meet? You’re the one who needs to see him.”

“Pardon?”

“Go and meet him. It’s up to you to figure out what to do.”

What an opportunity!

This was the most appropriate help he could offer.

“Thank you, Grandfather.”

“It won’t be easy. You’re not the only one filing a petition.”

“Since I’m the first to file, I have the advantage, at least for now.”

Once the government announcement came out, Vice-chairman Jin Dong-gi wouldn’t sit still. He would mobilize all his connections to prevent extreme measures like a suspension of business, and those connections would undoubtedly include the Chief Economic Secretary.

“That’s right. You’ve stirred up so much in just one day, and more will happen. The one who starts first has the advantage. Indeed.”

My grandfather, anticipating an interesting spectacle, continued to smile.

“Then, I’ll have lunch with you here before I leave.”

* * *

“I apologize for imposing.”

“Not at all, Mr. Jin Do-jun. It’s quicker to talk to the person directly.”

The Blue House Economic Chief of Staff smiled brightly and extended his hand.

As I took his hand, I felt his strength.

“Actually, if Chairman Jin were here, it would be rather uncomfortable. It’s hard to speak frankly and comfortably. You’re not one to beat around the bush, are you, Mr. Jin Do-jun? Haha.”

His confident expression and pleasant demeanor made a good impression.

This kind of attitude was possible because it was a newly inaugurated administration.

“If there’s nothing to hide, the conversation will end quickly. I wouldn’t want to keep someone so busy for too long.”

We sat facing each other across a small table.

“By the way, you look much better in person. If you weren’t part of the Soonyang Group, you could have succeeded as a celebrity.”

“My original dream was to be a handsome lawyer. But I’m doing this because of my grandfather’s wishes.”

“Talent doesn’t always follow dreams. You seem like a natural gambler; you would have ended up on this path anyway.”

A gambler….

He’s already investigated me.

Indeed, since I was the one who suggested bankrupting Soonyang Card, he must have thoroughly vetted me.

“So, what do you think of the hand I’m playing? Does it look like a winning one?”

“Well, show me your hidden card. Then I can assess your chances of winning.”

He said he’d speak frankly, but he’s mimicking riddles. Just like a politician.

“Besides Soonyang Card, I’ll save another failing card company for you.”

“What was that?”

“Since the government won’t inject public funds, if Soonyang Card goes bankrupt, a couple more won’t be able to hold on. I’ll save one of them. Just say the word.”

The Chief Economic Secretary blinked for a moment, then tilted his head.

“Goodness, it’s hard to understand. Wouldn’t taking on two failing card companies be a huge burden? Are you sure you’ll be alright?”

“I wouldn’t offer if I couldn’t handle it. Miracle Investment’s financial power is beyond imagination. I hear American capital is coming in this time, so isn’t that a good thing? It looks like we’re attracting foreign investment. How about that? Saving a failed Korean company with foreign capital.”

“That’s quite a hidden card.”

The slight smile on his face revealed his thoughts.

“I have another hidden card. Would you like to hear it?”

The Chief Economic Secretary nodded.

“How about Daehyun Group for the second card company?”

His smile vanished instantly, and his eyes widened.

“Daehyun Card, you mean?”

“They’re also on their last legs. Barely holding on with an IV drip. Since they’re not receiving any help from Daewoo Motors, they have nowhere to get funds.”

“Soonyang and Daehyun… this is thrilling.”

Contrary to his words, he seemed slightly excited.

Isn’t this the moment he wants to show the world something?

The power and authority of the new administration, shown by cracking down on chaebols that divide Korea? The picture is very appealing.

“If you target these two, the other big companies will fall in line. To avoid being next, they’ll quickly clean up their bad debts and focus on normalization.”

“It sounds plausible, but like I said, it’s thrilling….”

I could easily guess why he was putting on this act.

“Are you worried about the media backlash?”

“Of course. We’re in the honeymoon period, so they’re only lightly criticizing us, but if the government starts targeting the advertisers of newspaper companies, do you think they’ll stay quiet? To protect major advertisers like Soonyang and Daehyun, they’ll start biting us. The honeymoon will turn into a bitter moon in an instant.”

“Don’t worry. That won’t happen.”

“Really?”

I smiled and picked up my teacup. It’s good to pause when someone is dying of curiosity.

“The biggest advertisers aren’t Soonyang and Daehyun Group. It’s Soonyang Electronics and Daewoo Motors. And the owners of these companies greatly dislike the owners of the card companies. The reason is… as you know.”

“Ah…!”

The Chief Economic Secretary let out a long sigh, but his expression was noticeably brighter.

“Not all media outlets will praise the Blue House, but they will remain silent. Even Hanseong Ilbo, the loudest of them, has ties through marriage with Soonyang Electronics, so they’ll only offer a token criticism. You can put your worries aside.”

The Chief Economic Secretary leaned back and rubbed his chin with his clasped hands.

After remaining still as a statue for a while, he stared intently at me and opened his mouth.

“But Mr. Jin Do-jun, what do you gain from this? Of course, I know you have close ties with Miracle Investment, but I still don’t understand why you’d take the lead in ruining your own family’s subsidiaries.”

“I believe I mentioned that during my meeting with the Chairman of the Financial Services Commission.”

“You said it was a complicated family matter, didn’t you?”

“Yes.”

“In that case, I have no choice but to consider today’s conversation as if it never happened.”

Why is he suddenly changing his tune? This deal is definitely beneficial for him.

“The Blue House, or rather the government, cannot use its power to resolve family issues. If today’s work is to be worthwhile, you need to be specific about those family issues. So I don’t feel like I’m being used.”

So, he’s saying he needs to see what’s in my underwear before he moves… And my underwear needs to reek of something scandalous. Something more primal and provocative than a high-level plan to seize group shares would be more believable.

“The reason I became such a skilled gambler is because I saw all the hidden cards beforehand. That’s what the pros do, isn’t it? They say they know the order of all 48 Hwatu cards.”

“Is it about money?”

He’s quick-witted.

“Yes. If you accept my proposal, Chief Secretary, I plan to start buying up shares of Soonyang Card and Daehyun Card from tomorrow. Soonyang Card’s stock price has already fallen below face value, so once it normalizes, a tenfold return is guaranteed.”

“Wow! You’re scary, my junior.”

Come to think of it, he’s also an alumnus of my school. But why is he suddenly bringing up academic ties?

“How much are you planning to pocket, exactly?”

“My capital is so vast, even I don’t know how much I’ll make.”

I looked at the Chief Economic Secretary’s smiling face and casually dropped a line.

“If you ever need anything, just let me know, Sunbae-nim. I’m a nerd anyway, I don’t have much use for money.”

The smile vanished from his face.