The Chaebeol’s Youngest Son Chapter 288

[288] Pandemonium, pure family 4

“So, you’re saying you’ll fill me up with the amount you want?”

“Why are you so surprised? “I understand that Sunyang Financial Group already has quite a few deposits, right?”

“That’s why you’re surprised. I’m thankful for our bank, but… .”

The president of Jinhan Bank rolled his eyes here and there, trying to hide his look of suspicion.

Individuals leave their money in the bank to earn interest, but companies are different. It is normal to diversify your investments in several places, but it is natural to wonder why you are investing money again.

But it’s harder to say no.

In order to match year-end performance and equity capital ratio, we need to bow our heads even more.

“I know things are difficult, but that’s not true. “I see you are reluctant.”

“Oh, no. Manager. Don’t you know that things are a mess? Branches across the country are crying out that they are about to die. Large companies like Sunyang can overcome this crisis because they have a solid foundation, but small and medium-sized companies are going bankrupt. “There is a mountain of bonds that need to be written off as losses this year.”

The bank president looked at me and cried for a while, then spoke carefully.

“Chief. If there is anything you want from Jinhan Bank, please tell us openly. Only then will I be able to comfortably tell you the number I want.”

“I will tell you when I need to. So, tell the president the number you desperately want right now. “You can think about it later.”

Perhaps because the answer was unexpected, the president’s eyes widened.

“Corporations and banks. This is not a relationship where you will grant a favor without conditions. “Isn’t it okay to ask for something at any time as long as it’s worth listening to and there’s an appropriate price to pay?”

“Yeah, but… .”

“If I solve your difficulties today, you won’t risk your position as president to help me next time, right? So it’s no use telling me what I want in advance.”

The bank president looked a little displeased, but quickly returned to his normal expression.

“I said too many unnecessary things. haha.”

He said the number after an awkward laugh.

“To be precise, I would like to ask for 600 billion won, or if you have some spare time, about 800 billion won.”

“I will send someone. “I will take 800 billion won.”

The bank president bowed his head.

“Thank you, manager. And I will remember that it is not now, but next.”

“next… ?”

“You said it, didn’t you? ‘Next time’… . In any case, I would like you to ask within the scope of not losing my position as the president. haha.”

The bank president disappeared with a sly smile on his face.

Quick inspiration.

He is a banker to his core and knows how to bow his head in front of wealthy people.

Then, I met with top bankers from the four major commercial banks one after another.

* * *

Barack Obama, the first African American and Hawaiian to be elected as the 44th president of the United States, criticized the corrupt Wall Street throughout the campaign.

“Americans were driven into a financial crisis by the greed of Wall Street and Washington and their neglect of responsibility.”

However, President Barack Obama appointed Timothy Geithner from Goldman Sachs as Secretary of the Treasury and William Dudley as the new President of the Federal Reserve Bank. William Dudley was the chief economist at Goldman Sachs.

In addition, most of the economic officials were filled with people from Goldman Sachs.

We may never know whether his pledge to reform Wall Street was sincere or not, but one thing is certain.

Washington is dominated by the American financial world. Just as conglomerates rule Korea.

The new government’s policy of being ‘corporate friendly’, a much more purified term than the overtly pro-chaebol policy, gave wings to the chaebols.

Just as the U.S. Treasury released the shackles on Wall Street, the government loosened all kinds of regulations and turned the entire country into a civil engineering site.

While the real economy was bottoming out, the construction industry enjoyed an unprecedented boom.

“Our HW Construction will grow bigger before Sunyang Construction eats away at it.”

Chairman Hakjae Lee burst out laughing, as if he was dumbfounded.

“Soonyang and Daehyun are all in on Dubai, and Korea is only lending their name. “Construction has now entered the OEM era.”

“Coming soon. “Can’t you see that Europe is holding on with Germany’s strength?”

“There are already signs. “It is clear that Daehyun Construction tampered with the apartment sales price.”

“yes? “Daehyun?”

“okay. We kept delaying payment, so they criticized us harshly. When the developer receives the sale price, isn’t payment to the construction company the top priority? However, the payment for the sales advertisement, design, and even the pop-up room was postponed. “I’m trying to make money in Dubai.”

Finally, I can feel my rotten self.

“Doesn’t that mean that the money that was supposed to come in from Dubai didn’t come in?”

“yes. The local atmosphere in Dubai is really harsh. European companies seem to be at the last minute to the point where they are even willing to file lawsuits. Their country’s economy is in shambles, so if they take money from Dubai, it’s the end. “The guys over there are fighting for their lives, so Sunyang and Daehyun can’t even show their business cards and just watch.”

This is good news. We all need to prepare for the harsh sand storms in Dubai.

“President. Be sure to secure the money you will receive from the two construction companies. I will prepare for the acquisition. “I need to give some medicine to those in authority.”

“Can I get it? Will Dubai, which is over, give us money?”

As the amount was beyond imagination, even the gutsy Chairman Lee Hak-jae could not erase his anxious expression.

“It takes time, but you get it all. Domestic apartments will suffer some losses, but we can handle that.”

“after… . For now, I have no choice but to believe what you say. “Our HW will also need to have a lot of bullets to avoid being swept away by the sandstorm.”

“Have peace of mind and believe. “I have a lot of money.”

Chairman Lee sighed and brightened his expression when he saw my confident appearance.

“I get it. Oh, by the way, I’ll send an interior design crew to renovate your house.”

What does this mean? Why are you tearing down the house?

“Have you seen the new 50,000 won bill?”

“I took a look. “Can you show me?”

When I took out my wallet, Chairman Lee laughed with a very disdainful look in his eyes.

“Not a bill, a box, man. “Hehe.”

As I was still rolling my eyes because I didn’t understand what he meant, Chairman Lee took out a bundle of 50,000 won from a drawer and threw it at me.

This is a new, stiff bill that came out at the end of June this year.

“That’s a hundred pieces. One Vitao bag contains 11 of them. A box of apples can hold up to 1.2 billion. “Isn’t it awesome?”

He looks really happy.

By the way, how many times has this person delivered boxes full of 10,000 won bills? Nowadays, the price of rice cakes is reduced to a box of Vitao bags that can be easily carried with one hand… No, one barrel is enough.

An apple box that can barely fill 200 million can hold 1.2 billion when fully filled, and a 007 bag can hold over 300 million.

I know it well too. How many times have you lifted and put it down?

It is difficult to count the number of times a box full of 50,000 won bills has been loaded into the trunk of a car. For someone like me, the 50,000 won note was a gift from the government. Because the arduous work has been reduced by one-fifth.

“What does that have to do with tearing down my house?”

“The 50,000 won note printed for the first time is worth about 1 trillion won. I kept some with me just in case. Keep it at home and use it when needed. “I heard there are a lot of places to attack?”

There is no way he doesn’t know about the money in the slush fund account his grandfather passed down to him. Doesn’t he know that there’s no need to do such a hassle?

He said, reading my thoughts.

“Has there been a lot of construction work this year? An opportunity like this rarely comes. The more cash the better. “Take care of it when you can.”

“So you’re saying we should tear down the house and make room to store cash?”

“then? Would you like to rent a warehouse and store it? The house is spacious too. “Listen to me.”

In Korea, the person with the most experience in this area is the one who said it, so I have no choice but to follow it.

“yes. But how big should it be?”

“For now, we have secured 50. “I need to accumulate about 100 in the future.”

The word “for now” seemed scary.

I also found out why it was difficult to find 50,000 won notes in the market.

“Then, since we don’t have a place to sleep while the interior of our house is under construction, we’ll have to stay in a hotel.”

“It’s over in one day. “There will be no need to vacate the house.”

“I used that as an excuse to sleep in a Dubai hotel for a few days. Oh, the Chairman is also with us.”

“what?”

“I’m not saying we should just use one shot. “I’ll prepare a special room for you, so let’s take a few days off.”

It is also very fun to watch Chairman Lee, who is surprised and does not know English.

* * *

The conference room in the Sunyang main building was occupied by Sunyang Construction and Dubai TFT for over a month. The reason their complexions darkened as time went by was not just due to accumulated fatigue.

“Vice Chairman. “If this continues beyond the fourth quarter, it will all stop.”

“HW Chairman Lee Hak-jae seems to have sensed the crisis, and he says it is no longer difficult to mobilize funds.”

This is a fact that Vice Chairman Jin Jin-gi already knows well. Red warning lights have been ringing continuously from the beginning, but aren’t opportunities always present in crises? You have to overcome the thrilling dangers to discover a cave full of gold.

However, the situation in Dubai is unusual. European companies seem to have already accepted the signs of crisis as reality. Should you give up the treasure and escape before the cave collapses and traps you?

To do so, the resources and effort invested so far are not worth it. The bigger problem is that it is unclear how many of them can be saved.

In order to accurately know this unknown number, we must negotiate with the ordering company, Dubai World, at the point of our swords.

It is difficult for Dubai World to handle what happens when Sunyang Construction halts construction. The building that was built is nothing more than a pile of concrete. He planned a world-class city, but all that remains is a desolate battlefield like a shelled battlefield.

Instead, Sunyang Construction may have wasted the resources and money it has invested so far. They will have to suffer from severe financial difficulties during the period it takes to receive money and resume construction.

However, if things continue this way, they will soon run into financial difficulties. There is nothing worse about negotiating since you will face the same result.

“From now on, simulate what happens if construction is stopped. And Taejun.”

“yes.”

Jin Taejun was very surprised. This is his father, who never called him by his first name at work, let alone his title.

How frustrated would a father like that be to make such a mistake?

“You clearly draw cash flow. “You can’t make a mistake, even if it’s just ten won.”

“I understand, Vice President.”

The vibrator spoke to anyone in the conference room.

“Are you currently out in Dubai as a construction manager?”

“yes.”

“Tell Dubai World to send a warning. “If you don’t come up with the money quickly, you can withdraw at any time.”

* * *

Dubai is a place where you can see what happens when a person with an uncontrollable amount of money imagines the impossible.

While going from Dubai International Airport to the ‘Burj Al-Arab’ hotel, which means Arab Tower, the night view of Dubai seen from the limousine window did not feel like a desert at all. This is the paradise of the future.

Chairman Lee Hak-jae clicked his tongue as if he was pitiful, seeing me unable to take my eyes off the night view with my mouth wide open.

“If you live your life just staring at numbers, you’ve become a country boy. Here and now, money, which was just a number, has turned into reality. “Isn’t it much better than storing it up digitally?”

“I see. I can’t build a city like this because I don’t have oil dollars, but at least one tower is possible. When I’m done here, I’ll put up a tower. HW Tower.”

Seeing my serious expression, Chairman Lee waved his hand.

“I can’t say anything. I just did it. “Why do you waste such money?”

“Well, how do you feel? When you have a lot of money, you should have some fun spending it. “It’s not a waste because the building remains.”

I was already starting to picture the HW Tower in my head.

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fantasy, modern,