Chapter 305: Chapter 305: You Need to Get Something Else
Did you happen to know about this?"
Chairman Song Chan-woo abruptly questioned, without any explanation.
I set my coffee cup down, puzzled, and shot him a look.
"What are you talking about?"
"I mean the slush funds of your father that have gone to Kim Jong-il."
"What? Is that true?"
I raised my voice without realizing it.
"I found out during my recent trip to North Korea. They asked me to pass along the promised money. When I inquired, they said your father had agreed to pay for various monopolies within the Republic."
"…You can't be serious!"
"I thought they were just trying to extort money as well. But when I checked the ledger in your father's safe after returning to Seoul, I found it was all true. There was a sizable withdrawal from one of the accounts listed there, and your father's secretary confirmed it. I've already verified the contract too."
His words triggered a vivid memory from my previous life.
Yes, that event happened. It was a major incident involving not only the Daehyeon Group but also key figures in the Kim Hak-gwon government.
And after that… I stared closely at Chairman Song Chan-woo's face.
"Why are you looking at me like that? Did something get on my face?"
"No, not at all. So, how much was the amount that was transferred?"
"The amount that has currently been transferred is one hundred million dollars, and there's an additional payment of a staggering four hundred million dollars agreed upon."
"…You must be kidding."
That was roughly five hundred billion won at today's exchange rate. I couldn't fathom what kind of interests could possibly justify handing over that much money to Kim Jong-il.
"What on earth are these business interests?"
As far as I remembered, there had never been any substantial progress on North Korean business initiatives.
The only slight advancements were in the Kaesong Industrial Complex and the Mount Kumgang tourism project.
Even then, the Kaesong Complex was primarily for small to medium enterprises, making the tourism at Mount Kumgang the only investment Daehyeon Group had made.
To gamble five hundred billion won just for that? My mind struggled to comprehend it.
"It includes mining rights, power, communication, railroads, and almost all infrastructure projects, as well as the Imjingang Dam, Mount Kumgang tourism, water resource development, and business rights for various tourist attractions in North Korea."
The scale of the business interests Song Chan-woo mentioned was staggering.
If it could be bought, it wouldn't just be five hundred billion won; one could easily pay billions for it.
However, no matter how profitable the ventures appeared, dealing with Kim Jong-il was a different matter.
"There are also numerous other minor projects, like establishing a Daehyeon Automotive plant in North Korea."
Chairman Song Young-ju's ambitions were grander than I had imagined. It was equivalent to saying he wanted to control the North Korean economy.
The plan was to monopolize most infrastructure development and, using that foundation, dominate both the tourism and mining sectors.
If Chairman Song Young-ju's dreams were realized, North Korea might have seen phenomenal growth.
Yet paradoxically, the legitimacy of Kim Jong-il's regime would have suffered a devastating blow.
"So, what are you planning to do?"
"If this goes through, I believe the Daehyeon Group could take another leap forward."
"That might be true. However, as you know, the risks involved are substantial."
North Korea was under the watchful eyes of many powerful nations, including the U.S., Russia, China, and Japan. The interests there were equally complex.
Currently, China was handling most of North Korea's mining ventures, while a lot of young North Koreans were working under the pretext of earning foreign currency in Russia.
Japan, a nation that did not wish for peace between the North and South, could be counted on to get involved somehow.
"Moreover, that would violate all economic sanctions that accompany the U.S. designating North Korea as a state sponsor of terrorism."
"I am aware of that."
"And this matter involves deep connections within Kim Hak-gwon's government. If later on Kim Hak-gwon leaves office, you might face political backlash. Although it was initiated by Chairman Song Young-ju, in the end, the responsibility falls on you, Chairman Song Chan-woo."
Song Chan-woo simply nodded, his face etched in seriousness as he remained silent.
"Lastly, the most crucial issue. Kim Jong-il is an utterly unreliable person. He could take the money and renege on the business rights at any time without keeping his promises."
Of course, Song Chan-woo couldn't be unaware of the flaws I mentioned.
"But I still don't want to miss out on this opportunity. It carries my father's intentions, but I also want to give it a proper try."
For someone so composed, there was a stubborn resolve in his gaze. Seeing that look, I nodded.
"Alright. Since Daehyeon is yours, you can proceed as you wish. If you need assistance, I'll be there to help as well."
I didn't want to interfere in the management of Daehyeon Group.
As a major stakeholder, I only needed to act as a strong supporter from the background.
"Thank you."
"Let's skip the formalities for now, and tell me the real reason you came to see me."
A look of surprise crossed Song Chan-woo's face.
"You knew, huh?"
"What, isn't it obvious?"
"Yes, that's right. I can't just pour the entirety of the slush funds into this venture; I need your help, Boss."
Feeling awkward, Song Chan-woo lowered his head slightly.
"So how much are you short? Chairman Song Young-ju wouldn't have proceeded without a plan for securing the funds, would he?"
"My father trusted the government. President Kim Hak-gwon said he would support Daehyeon with around one hundred million dollars in policy assistance. He also indicated he would pressure the banking institution to grant us loans."
It became clear why President Kim Hak-gwon had visited Chairman Song Young-ju's funeral home.
Kim Hak-gwon and Song Young-ju, though differing in direction, were comrades sharing the same dream.
"Are you saying that, during a time like this, they're supposed to loan out that kind of sum?"
"Hah…"
Chairman Song Chan-woo let out a deep sigh, laden with meaning.
"They probably said they can't secure those policy funds. And certainly, they would have claimed the loans won't be possible in the current climate. Am I right?"
"…How did you know?"
"The state finances aren't exactly overflowing with excess, you know."
"Even if the loans are difficult, we still need to secure those policy funds…"
Song Chan-woo trailed off, not finishing his thought.
"Why? Is it because that one hundred million dollars was money given upfront as the cost for the inter-Korean summit?"
"How do you know that? I only found out today. Did my father mention anything to you?"
Instead of answering, I merely smiled.
I couldn't just tell him I came back from the future.
"It's just a guess. There's no way a government would hand over a substantial amount like one hundred million dollars to a private corporation without a good reason, right?"
"That's true, but… The fact that you pinpointed it as the cost for the inter-Korean summit is impressive."
Song Chan-woo shook his head in disbelief, looking utterly shocked.
"That's not what's important. In any case, the government is likely to find it difficult to produce that one hundred million dollars. If it becomes known that they provided money in exchange for the inter-Korean summit, it would deliver a massive blow to the regime. It could even lead to impeachment proceedings."
"They've already been hinting at that too."
Having survived in the political sphere for long, Kim Hak-gwon had become as tricky as a thousand-year-old fox. Leaning back slightly, he continued speaking.
"So, they have to secretly produce that one hundred million dollars, and even when transferring it to Daehyeon, they'll have to use layers of intermediaries. Any records cannot be left behind. However, in the current non-military regime, do you think President Kim Hak-gwon can create such slush funds? That's an amount exceeding one hundred billion won. It won't be easy."
"…"
"Instead, he offered a loan? He said it's going to be tough right now, so he asked you to wait. I doubt it will happen. They'll keep postponing, and when the president's term ends, it will all fizzle out."
Song Chan-woo's expression hardened in an instant.
"You can't be serious!"
"If this news gets out, the problem won't only be for Kim Hak-gwon's government; it will also land a heavy blow on Daehyeon. Nobody would want to go public with this; Daehyeon too would want to wait for it to blow over."
"So, you mean to say we might end up losing over a hundred billion won in the process? No, the government can't be that cruel…"
Even for Daehyeon Group, the country's leading conglomerate, that was an astronomical sum.
Especially if it's slush funds that can't be traced; it was all the more critical.
To be on the brink of losing such a large sum would be utterly infuriating.
"You need to get something else. Kim Hak-gwon's term only has two years left. Once the presidential election season kicks in next year, it'll be harder to obtain anything else."
"Huh…"
A deep sigh escaped Song Chan-woo. But it was a waste of time to wallow in despair.
"Think carefully about what you should retrieve. So, how much do you need?"
"I can secure two hundred million dollars myself by utilizing several of my father's slush fund accounts. However, the remaining two hundred million dollars is the problem."
"Two hundred million dollars…"
I drummed my fingers on the armrest of the couch, deep in thought.
Two hundred million dollars was a considerable amount for me as well. However, my deliberation didn't take long.
"Alright. I'll lend it to you. However, we will need to put up the stocks you own as collateral."
"Ah… Thank you."
Finally, the tension on Song Chan-woo's tightly wound face eased, revealing a small smile.
"I'll arrange for the funds to be provided via untraceable money. Do you have a slush fund account in the Bahamas?"
"I don't have one in the Bahamas."
"Then you need to send a trustworthy person immediately to set up an account there. If you send the account number to us, we will transfer the funds right away. You can discuss the details with Manager Ma outside."
"Thank you."
I called Manager Ma, who was waiting outside.
"Did you call for me?"
"Manager, please prepare a contract."
I conveyed to Manager Ma that I had decided to lend two hundred million dollars to Song Chan-woo.
"Understood."
Manager Ma, bowing his head, went out and closed the door behind him.
"Let's move on from the money talk. Was there anything else?"
"He said there would be good news soon. To ensure that happens, he asked me to show goodwill. Goodwill, indeed. In the end, it's just about the money."
"So, once the funds are transferred, will the project resume?"
"Yes, he said we could resume the project. I heard they're preparing to sit at the negotiation table with the government soon."
Conducting business with North Korea wouldn't be possible without the U.S.'s approval.
However, given the circumstances, it was unlikely the U.S. would grant permission.
Could it be that Kim Jong-il truly believed I would facilitate negotiations with the U.S. no matter what?
The thought of him being mad crossed my mind. Just before parting, his demeanor had transformed into one of outrageous boldness, seemingly dismissing my past actions.
"Is there a problem?"
When my expression hardened, Chairman Song Chan-woo inquired. Regardless of my personal feelings toward Kim Jong-il, ultimately, it was a situation I would have to solve.
"No, not really. I was just lost in thought for a moment."
I shook my head lightly and checked the time. A significant amount of time had slipped away, and I spoke to Song Chan-woo.
"I have a dinner appointment, so I'll have to end our meeting here for today."
Upon my words, Song Chan-woo got up from his seat. I followed suit and extended my hand.
"Let's have a meal together next time."
"That sounds good."
With a smile, Song Chan-woo took my hand. I returned his gesture with a small smile.
"Then I'll take my leave now. Thank you for today."
"Once you go, you can prepare the contract with Manager Ma, then come back."
"Yes, I'll do that."
Just as Song Chan-woo turned to leave the study, I hesitated briefly before calling out to him.
"Chairman."
Song Chan-woo turned at my call.
"Even if you encounter really hard times, don't let negative thoughts take over."
"Huh? What do you mean…?"
Song Chan-woo asked, puzzled, but I just shook my head.
Having held his hand, he was now my ally.
I was determined to support him to prevent a repeat of past events.
"It's just something I feel. Now, you should go."
As he maintained his confused expression, I issued my parting words and turned away.
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