Chapter 73: Plans
by xennovel“Do-jun, you’re still young and don’t know how things work around here. No one writes a contract when handing over election funds.”
“Ah, right. Our Do-jun only deals with investment firms, so that’s what you’re used to. This money is meant to disappear completely. It’s not an investment.”
Do these people still see me as just a rich kid?
“Oops, I should have explained it in detail. My mistake.”
I smacked my forehead and gave an awkward smile.
“Just a moment. There’s someone who can explain it in detail.”
I got up from the living room sofa and called out towards the stairs leading to the second floor.
“Uncle! Come on down.”
My aunt and uncle just stared at each other with bewildered expressions.
Who would the youngest member of the household call ‘Uncle’?
# # #
“Land? Public land?”
“Yes. The plan is to snatch it all up as soon as the local elections are over next year.”
“You’re going to make your uncle-in-law the mayor of Seoul?”
“Am *I* going to make him mayor? He’s the one who has to fight for it.”
Oh Se-hyun’s reluctance was plain on his face.
“I’ve never seen anyone get involved in politics and come out clean. Aren’t politicians the kind of people who dig up dirt and take revenge once their term is over? Don’t you know that?”
“No company has ever grown without political power. In Korea, you can’t grow into a major conglomerate doing business outside the political sphere.”
“So? What are you going to do with the land you get?”
“Undertake a large-scale construction project, of course. Heh.”
“This is getting more complicated. What? Construction?”
“Why else would I be interested in a construction company? It’s all for this.”
I pulled out the map I had shown my grandfather.
“The most valuable piece is right here.”
I forcefully stuck a red pin into a spot on the map.
“I’m going to develop this area.”
“Where is this?”
Oh Se-hyun, his vision not what it used to be, pushed his glasses up his forehead and studied the map intently.
“Mapo? Sangam-dong?”
“Yes. It’s already been designated for a housing development district.”
“Hey, hey. Forget about it. Why bother with something that’s already finished?”
This summer, the former Nanji Island landfill in Sangam-dong, Mapo-gu, along with nearby underdeveloped villages, coal briquette factories, and idle land, was designated as the ‘Sangam Housing Development District,’ and development was announced.
It was then that I realized it was impossible to get involved in lucrative projects without a construction company.
Either way, the companies currently involved in the Sangam housing development are all eager to pull out. What’s the point of building apartments when the country is practically bankrupt? There won’t be anyone to move in.
That’s what everyone was thinking.
“There’s still a lot of public land near the housing development district. We need to develop that.”
“It’s impossible to sell the existing apartments. Haven’t you seen the real estate crash? Why build more apartments in this situation?”
I smiled as Oh Se-hyun shook his head.
“Crisis becomes opportunity when it meets those who are prepared. And no one is more prepared than me for the biggest crisis in our country’s history.”
“Honestly, you’ve got a lot of half-baked ideas. This isn’t the time. Apartments are done for now. Get back into apartments once this crisis is over.”
“Who said anything about apartments?”
“Huh?”
“I’m not interested in apartments. The land allocation for housing is already finished. Let those construction companies sigh all they want. I’m going to develop it with a different concept.”
Oh Se-hyun sighed. He knew he couldn’t change my mind.
“Alright, what’s this new concept?”
“DMC.”
“Seriously? Now it’s broadcasting stations? Why? Just buy MBC outright!”
Oh Se-hyun looked utterly dumbfounded.
“It’s not broadcasting stations, it’s DMC. It stands for Digital Media City.”
“What’s that?”
Now he looked a little more interested. The words ‘digital’ and ‘media’ sounded forward-thinking.
“I’ll give you some information to look over. And we need to build a World Cup main stadium in Sangam-dong. 2002 isn’t that far away.”
In 1996, FIFA decided to co-host the World Cup with Japan. No one knows that the Korean national team will reach the semi-finals. In the past, I watched TV at pubs and shouted ‘Daehan Minguk!’, but this time, I plan to watch it with my own eyes from the VIP seats.
“If it’s a ‘City,’ isn’t that too far-fetched? A World Cup stadium sounds plausible, though.”
“We’ll make the DMC sound plausible too.”
# # #
“Nice to meet you. President Jin, Assemblyman Choi. I’m Oh Se-hyun.”
My aunt and uncle alternated between looking at the business card Oh Se-hyun offered and his face, visibly surprised.
CEO of Miracle Investment.
This is the power of a business card.
The investment firm that acquired Ajin Group. Isn’t he someone who moves trillions of won?
“Oh, hello. Do-jun, is this Miracle, the investment firm that manages your money?”
My aunt lightly waved the business card.
“Yes, that’s right.”
I nodded and spoke to the two of them.
“Then please, talk amongst yourselves. I’ll be upstairs on the second floor.”
My aunt looked confused as to why I was leaving.
“This is the person who’s investing in the future mayor of Seoul and considering business opportunities. He’s trustworthy. He’s also a close friend of your father. Well then, I’ll be going….”
I bowed to the three of them and left.
Oh Se-hyun knew my plans well enough, so there wouldn’t be any issues.
# # #
“I feel a bit uncomfortable saying this, but where is the election funding coming from exactly? Is it Do-jun’s money? Or Miracle’s? Or CEO Oh’s personal funds?”
Jin Seo-yoon, her eyes narrowed sharply, was nothing like the woman who doted on her nephew.
The word ‘contract’ was mentioned, and so was ‘business.’ She had accurately grasped that this wasn’t a simple request for money.
“The source of the funds is Do-jun. However, as someone obligated to diligently manage Do-jun’s money, I’ve stepped in. I hope you understand.”
“But this is a family matter. It’s a bit… unsettling.”
“That’s unexpected.”
“Pardon?”
“Has there ever been such a thing as ‘family matters’ within the Soonyang Group? Isn’t everything just business?”
Unlike the frosty Jin Seo-yoon, Oh Se-hyun maintained his smile.
“Fighting over an extra sausage on the family dining table, massaging your father’s shoulders and getting allowance—that’s family matters. But isn’t your family the kind where you fight over acquiring another subsidiary while eating breakfast, and hundreds of billions in holding company shares change hands when you massage your father’s shoulders? If that’s not business, what is?”
It was a sarcastic remark, but instead of getting angry, Jin Seo-yoon’s icy demeanor seemed to melt away.
“I was annoyed at having to cater to a young nephew, but this is better. Since it’s business, there’s no need to act subservient, right?”
“Of course, President Jin. I will make my proposal on equal footing. If you find anything unsatisfactory or lacking, please don’t hesitate to point it out.”
“Straightforward. Let’s begin then.”
Oh Se-hyun took out a notebook.
“What is the estimated amount of funding needed?”
“40 billion won.”
“And how much can you cover directly?”
“None.”
The chilliness returned.
This time, Oh Se-hyun was taken aback.
“Pardon? Do-jun mentioned that President Jin would be covering some of it from her personal funds….”
“That’s a conversation for family. Didn’t you say this was business? The value of the favors my husband will grant CEO Oh when he becomes the mayor of Seoul will be worth more than 40 billion won. Why should I use my own money?”
Oh Se-hyun was reminded of the habits of the wealthy.
They throw away the value of money when it’s for themselves, but they become incredibly stingy when someone else’s money is involved.
“Right, of course. My mistake.”
Oh Se-hyun scratched his head sheepishly and pulled out a map of Seoul and a thick proposal.
“As you know, it’s about the transfer of public land. If you announce the sale of these 29 plots of public land marked on the map, citing the dire state of national finances, there won’t be any public opposition.”
The couple’s eyes widened at the mention of 29 plots, and Jin Seo-yoon exclaimed.
“Hold on! You could make hundreds of billions just selling land. This is….”
“Ah, please don’t misunderstand. Miracle isn’t going to buy all of it. We’ll only take these three areas: Sangam-dong in Mapo, Daechi-dong, and Naegok-dong. You need to release all of it to avoid any suspicion of favoritism. The future mayor of Seoul can select the buyers for the rest.”
The couple exchanged glances and nodded.
“Now, please take a look at this.”
Oh Se-hyun placed the proposal on the table.
The large title,
“Include this project itself in your election pledges. It will get quite a positive response.”
Jin Seo-yoon and Assemblyman Choi listened to the explanation about the DMC for a while, their faces showing a mix of doubt and hope.
“So, you’re saying we’ll attract media content companies like broadcasting stations and production companies to Sangam-dong?”
“That’s right. Actually, Mapo is a great location. It’s not far from Gwanghwamun, Gangnam, and Yeouido. And digital media is a future-oriented concept, isn’t it? In just a year, we’ll be in the new millennium. I believe it’s a good pledge.”
Oh Se-hyun opened the last page of the proposal.
“Ah…! This was included.”
Jin Seo-yoon lightly tapped the table when she saw the photo of the soccer stadium.
“Yes. The World Cup stadium is the finishing touch. Haha.”
Oh Se-hyun, seeing their brightened expressions, let out a cheerful laugh.
“If you manage the public land development well, you won’t have any problems with campaign funds for your re-election as mayor of Seoul.”
Assemblyman Choi grinned from ear to ear at the mention of re-election.
“What do you think? Are you satisfied with my proposal?”
“It’s true that three plots of public land will be enough, right?”
When Jin Seo-yoon asked for confirmation, Oh Se-hyun pulled out a few documents as if he had been waiting for it.
“This is a magic piece of paper that will dispel your distrust and doubt in one go. It’s a contract, of course. A secret contract, that is.”
The documents had everything Oh Se-hyun had mentioned so far, with only the amount and dates left blank.
“CEO Oh, can’t you just trust us? This is evidence of illegal campaign funds being transferred. How can you leave something like this behind?”
“President Jin, I’m already taking a huge risk. And that’s your husband’s potential defeat. I’m risking 40 billion won disappearing into thin air. Why wouldn’t I have evidence?”
When Jin Seo-yoon still looked uneasy, Oh Se-hyun drove the point home.
“Frankly, I’m only not opposing this because you’re Do-jun’s family. I’m even passing up easier options. Giving 40 billion won to the winner of next June’s Seoul mayoral election and telling them this strategy is a much safer investment.”
As Oh Se-hyun waved the proposal, her husband, consumed by his ambition for power, jumped in.
“Honey, let’s accept it. He’s trustworthy. He’s close friends with Yoon-ki’s brother-in-law and connected to your father through the automobile business. Surely he wouldn’t betray us?”
“That’s right. If I were to have ulterior motives with this contract, would Chairman Jin just stand by? Dozens of special investigation prosecutors would start digging into me. I know the power of the Soonyang Group very well.”
Jin Seo-yoon, who had been turning things over in her mind, finally nodded.
“Alright. A contract is necessary for mutual trust.”
Oh Se-hyun filled in the amount and dates on the documents.
“Well then, is everything settled?”
“Yes. Thank you for your decisive decision.”
Oh Se-hyun bowed politely to the two of them.
“CEO Oh, can we get the money as early as tomorrow?”
Assemblyman Choi seemed impatient.
“No. It will take at least three days. We need to launder it through a few channels and get old bills instead of new ones.”
The two of them grew even more confident in his thorough preparation.
“You two will also need to pass the preliminary round within three days, won’t you?”
“Preliminary round?”
“Chairman Jin’s approval, I mean. Without his permission to run, the funds won’t be released. He’s the one who can turn 40 billion won in election funds into scrap paper with a few phone calls, isn’t he?”
Oh Se-hyun’s gaze held a hint of disdain.
Receiving that look, the two of them frowned, imagining Chairman Jin’s angry face.