Chapter 561: Chapter 561: I’ll Extract Every Last Cent of the Overdue Interest
Kim Jong-il ordered everyone listed to come.
"Is that settled?"
"Chairman…"
Jang Seong-taek couldn't bring himself to finish his sentence.
"If you're going to do it, do it right."
"Thank you. I will dedicate my life for the Republic."
"For the Republic… once you sit in my position, you'll understand why I had to do this. This isn't the end. My brother-in-law has ousted me and taken power. Don't you think the others think the same? My brother-in-law will end up just like me."
"…"
Kim Jong-il chuckled at the sight of Jang Seong-taek staring at him in silence.
"You think it won't happen? That you're different? You think I don't see your inner thoughts?"
Caught off guard, Jang Seong-taek forced an awkward smile.
Watching him, Kim Jong-il's lips curled even more.
"Well then. Let's see how this unfolds. I need a break. You can leave now."
Following Kim Jong-il's dismissal, Jang Seong-taek stood up and bowed before exiting.
As soon as he was outside, Jang Seong-taek sought out Igor.
"Chairman Kim Jong-il has agreed to help me."
Jang Seong-taek explained his plan to Igor. After hearing everything, Igor nodded slowly.
"Hmm. It is indeed a straightforward approach."
"Exactly. So, gather all the mercenaries inside this special area. That way, they won't suspect anything."
"Understood."
Igor readily accepted Jang Seong-taek's request and picked up the radio.
He then summoned everyone except the five observing from the sniper point.
After relaying the orders, Igor tucked the radio against his chest and warned them.
"Don't do anything reckless. If I give the command, this building will disappear without a trace—along with everyone inside."
"…Aren't we comrades sharing the same boat?"
"Feel free to think that way. As long as you're allied with the boss, I'll listen to what you have to say."
"Thank you. With Kim Mu-hyeok watching, I wouldn't dare think of anything else."
Igor offered no response. He simply stared at him, contemplating.
'The boss explicitly told me not to trust Jang Seong-taek.'
However, unaware of Igor's true feelings, Jang Seong-taek assumed he was in agreement and continued,
"Oh, by the way, the mercenaries need to handle the arrest operation later."
Igor nodded readily in response.
"Of course."
Jang Seong-taek entered Kim Jong-il's study on the first floor.
* * *
"Hmm."
Awakening, I picked up the clock resting on the table to check the time.
"I sure slept a lot."
I dusted myself off and poured some water from the cup beside me. The cold water helped clear my head a bit.
Finally awake, I stepped outside to find Manager Ma waiting.
"Boss, did you sleep well?"
"Yes. I'm hungry. It's a bit early for a proper meal, so prepare some coffee and toast and bring it to the study. We can talk there."
"Understood."
I proceeded into the study.
Moments later, Manager Ma entered the study with coffee, toast, and some snacks.
Lifting my coffee cup, I asked,
"Did any calls come in while I was resting?"
Manager Ma handed me my phone and explained the incoming calls.
I nodded and checked the call log, dialing Han Gyeong-yeong first.
―"Hey! Kim Mu-hyeok!"
As soon as the call connected, Han Gyeong-yeong raised his voice.
"My ears are going to burst!"
―"What's the matter? Did it work out?"
"The first piece went well. From here on, it's up to Jang Seong-taek. If he fails to grasp power, we'll have to deal with Kim Jong-il."
―"So you're saying it's a tentative success?"
"Right."
―"Wow, this is actually happening!"
I took a sip of my coffee, placing the cup down as I reached for the toast.
"By the way, how much have we collected in North Korean bonds?"
I had instructed to secretly procure North Korean government bonds scattered across various places.
I also emphasized that Han Gyeong-yeong should handle this personally rather than delegating the task to someone else.
North Korea declared a default in the 1980s and announced they wouldn't repay their debts.
Since then, the price of North Korean bonds plummeted in the market. No, it was an understatement; they crashed.
Generally, default bonds are valued at about 5%, even at a premium.
And that's only if there's any slight chance of repayment.
Strangely, North Korean bonds were still trading around 10% of face value.
This was likely due to hopes that South Korea would repay the debts if reunification occurred.
―"About $4 billion at face value."
"And how much was the investment?"
―"Surprisingly little. Governments were eager to sell them off. It's likely due to the North Korean blockades. Most have been acquired between 5% and 10% of face value. And they kept asking why we were buying the bonds."
"Haha, of course. No one would think that my older brother would be buying North Korean bonds without reason."
―"But like you said, I didn't mention anything to China or Russia."
Most North Korean bonds were owed to the Chinese and Russian governments.
"So you're saying you mostly purchased bonds held by other countries and banks?"
―"Yes. There's no more we can buy now. Someone else is acquiring North Korean bonds while we're at it."
"Really?"
A strange déjà vu washed over me. I set down the toast I was eating.
Were they following our lead in acquiring North Korean bonds? Or could it be…?
―"I focused on purchasing government bonds held by various countries. Yet shortly after we began negotiations, someone started acquiring North Korean bonds in the market."
"Any idea who it might be?"
The North Korean bonds traded on the market were not directly issued by North Korea.
A French bank purchased the bonds from over 100 banks across 30 countries that had lent money, then used them to create zero-interest derivative bonds.
This was a clever method to evade sanctions imposed by the UN.
But someone was buying them now while Han Gyeong-yeong was negotiating with these countries.
―"I have no idea. Who knows how many countries we've visited in the past month?"
"So very few people within Dream High are aware of this?"
―"Right? Not more than ten of us."
"Conduct a thorough investigation on them. Also, reach out to Black Bear and turn them inside out."
Han Gyeong-yeong fell silent for a moment. Then he cautiously asked me.
―"Are you suspecting them?"
"I hope not… but it would be good to clear it up this time."
―"Understood. I'll proceed with it. But does this mean you're confident you'll retrieve what you're owed?"
"Exactly. If not, there'd be no reason to purchase them in the first place."
Han Gyeong-yeong murmured, his tone laced with suspicion.
―"Do you honestly believe you can get full face value?"
"Haha, we'll make it happen. I'll recover every overdue interest right down to the last penny. Talk to you later."
After finishing the call with Han Gyeong-yeong, I finished the cold toast and coffee.
Once I completed my light meal, I found myself lost in thought.
There were multiple reasons for buying North Korea's debts at rock-bottom prices from other countries.
The first was to prevent those countries from negotiating with North Korea using those bonds. The second was to secure a stake in North Korean development on equal footing with China and Russia. The third was that presenting bonds, rather than an empty invoice, relieved some burden for Jang Seong-taek.
It looks like things are about to get busier. After aligning my cluttered thoughts, I couldn't help but smile.
* * *
The countries surrounding the Korean Peninsula, including the U.S., Russia, China, and Japan, were discreetly exchanging information, keenly observing the flow of the situation.
However, unlike me, who had direct access to insider information, they were gaining little information.
"So Kim Jong-il made an unexpected choice?"
I marveled at Igor's explanation.
―"When I first heard it from Jang Seong-taek, I couldn't do anything but nod. It was the simplest approach."
It was indeed a simple strategy.
But could I fully trust that Kim Jong-il would collaborate so naively?
And was there anyone who would follow Kim Jong-il's orders without doubt?
Too many variables were at play.
"So how many have arrived so far?"
―"About half have shown up, and we detained them."
"Half? Kim Jong-il directly ordered them to come, and yet only half have arrived?"
―"I believe he instructed them to arrive at staggered intervals. It seemed odd for them all to show up at once."
Still, the number gathered was far too few.
Kim Jong-il issued direct commands.
In North Korea, disobeying such orders was tantamount to treason.
After a moment's thought, I inquired about the list of those arrested.
Igor asked me to wait a bit and shortly thereafter read out the names one by one.
Jang Myong-rok, head of the General Political Bureau.
Kim Young-chun, Chief of General Staff of the Korean People's Army.
Kim Il-sung, Minister of People's Armed Forces.
Hyun Chul-hae, director of the General Political Bureau.
In addition, several significant high-ranking officials from North Korea had been arrested.
Most were figures who had pledged their loyalty to the Kim family and the Republic from Kim Il-sung to Kim Jong-il.
Yet the most crucial person was absent from the list.
"What about Ri Ul-sul? Has he not shown up yet?"
―"No, he's not on the list."
Considering the military influence Ri Ul-sul wielded, he should have been summoned before Jang Myong-rok.
Yet still no sign of him. This felt like the situation was unraveling.
"What about Jang Seong-taek?"
―"He's currently conversing with those who are detained, trying to persuade them to side with him."
"What? Do you think they'll willingly listen? They may shake hands now, but they'll stab him in the back later…"
I couldn't understand Jang Seong-taek's actions.
Was he trying to act differently from Kim Jong-il, or did he truly believe he could sway them to his side?
If he didn't purge them, they'd simply replace one leader with another without any real change.
"Call Jang Seong-taek in. Right now."
―"Understood. Please hold for a moment."
A moment later, Jang Seong-taek's voice came through.
―"Mr. Kim Mu-hyeok, you called for me?"
"What are you doing right now? Do you intend to let them live? Do you genuinely believe they'll follow you?"
―"We can't kill them all. They… in our Republic…"
He was rambling. I raised my voice.
"Mr. Jang, is the Republic you envision merely a state where power shifts from Kim Jong-il to you? Was everything you said about serving the people just empty rhetoric?"
―"That's not true! I joined hands with you, Mr. Kim Mu-hyeok, for the people and to start this operation!"
"But that's not what your actions suggest. Can I trust you?"
Pressing him further, Jang Seong-taek replied with rising agitation.
―"So you want me to execute them all?"
"Kill them, exile them, or imprison them for life—do what you wish. But new wines must be carried in new wineskins. What kind of change are you hoping for while keeping them around?"
―"…"
Jang Seong-taek's silence spoke volumes.
"Mr. Jang, Kim Jong-il is aware of your indecisive nature. He undoubtedly thought you would try to persuade them, thus preventing conflict by having them arrested."
―"…That can't be true. The Chairman has completely given up. He pleaded for his and his family's survival."
I couldn't help but click my tongue. He was living in a delusion.
This was precisely why he was taken down by his own nephew's hand.
"Let's stick to the plan. Eliminate those who need eliminating and fill their places with new recruits. Jang Seong-taek! Do you understand?"
―"Mr. Kim Mu-hyeok, I'm not your subordinate. Please refrain from giving me orders. I will handle this my own way."
Jang Seong-taek replied in a curt voice, evidently offended.
"Oh really? You'll handle it? Then I'll treat you as a business counterpart. Is that acceptable?"
Just as I was pondering whether to release his hand, Manager Ma barged in without knocking.
"We've detected unusual movements from the military near Pyongyang. The U.S.-South Korea Combined Forces have issued emergency orders to all troops."
"What in the world is going on now!"
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