I Became Park Jeong-ui’s Nephew - Chapter 314



Only Noblemtl

He became Park Jeong-ui’s nephew. – (314)

“I’ll sell it to you for $4.2 billion.”

“Wouldn’t $5.5 billion be okay?”

“The board’s position is that this cannot go any further.”

This is Gyeongseong, Korea,

Park Jae-ok, executive director of Daehan Transportation, met a guest who had flown in from the United States.

Its identity is the American department store company Macy’s. Macy’s was a large corporation that once operated 440 department stores across the United States.

The heyday of this generation was the 1960s and 1970s, when the middle class in the United States began to grow explosively, but as the center of the American economy shifted to California and Texas, their octopus-like expansion also came to an end.

The number of department stores has been reduced from 440 to 150, and the remaining ones will be consolidated into several large stores.

But can that really happen?

Recently, the United States has also been pushing the sword of regulation into department stores.

Gift certificates commonly used in department stores are subject to regulation.

Gift certificates have been governed by state law, not federal law, so why is the government trying to regulate such a detailed matter?

That’s because of the nature of gift certificates.

Gift certificates are based on the principle of prepayment and post-purchase, so if the gift certificate issuer defaults or refuses to refund the remaining balance, the consumer suffers damages.

Korea also enacted a gift certificate law in 1961 to protect consumers, but it was abolished in 1973 after realizing that it was a useless regulation.

The specific details are as follows.

⁕ The law on gift certificates shall follow the standard terms and conditions of gift certificates.

⁕ Self-regulation is centered on the consumer dispute resolution standards according to the Consumer Basic Act and public notices thereon.

The standard terms and conditions basically protect the rights of consumers, and the rest is left to the company that runs the department store.

As a result, gift certificates used in department stores increased to 265 billion won, and as gift certificates became widely used, the class of people using department stores also became thicker.

In the past, department stores were mainly used by the rich and middle class, but now, they can also purchase items with gift certificates.

If you go to use a 100,000 won gift certificate, wouldn’t you end up spending 200,000 to 300,000 won?

Korea also has the lowest tax rate on gift certificates.

If you spend 10,000 won with a gift certificate, the tax added to it is only 40 won. A gift certificate is merely a negotiable instrument that replaces cash, so of course a cash receipt is also possible.

Would department stores and consumers turn down gift certificates like these?

As the amount of gift certificates issued increases, department stores’ profits increase, the number of customers using department stores increases, and the local economy is revitalized, literally killing two birds with one stone.

However, the problem is that the government will collect less taxes, and the Korean government is aware of this, but it abolished the gift certificate regulation after judging that the side effects of the economic downturn are greater than the worsening of government finances.

This problem applies to the United States as well: department stores benefit from increased issuance of gift certificates, but state governments have little in the way of taxes to collect.

So, the state government is just squashing department stores.

They imposed taxes and limited the amount of gift certificates issued. With the economy not doing well recently, who would use department stores if things were like this?

Macy’s decided to close 150 of its failing department stores, but this was met with opposition from the state and federal governments.

“If you close your department stores, where are the consumers supposed to buy their stuff?!!”

“It’s okay to get rid of department stores. Instead, at least leave small marts!!”

From a company’s perspective, there is no such thing as a separate truth.

They’re closing down a department store because business isn’t going well, so you want me to build a mart in its place? Does that make sense?

This is why companies cannot dispose of their existing department stores.

The best bet is to sell it to another company, even at a low price. Macy’s department store, once worth $13.8 billion, is now worth $6 billion.

But that is only the market evaluation, and the actual transaction price is lower.

Daehan Transportation placed a value of $4.2 billion on Macia’s department stores and the real estate attached to them, and with no other option, Macia handed over all rights to Daehan Transportation for $4.2 billion.

‘Now all we can do is wait.’

Director Park Jae-ok waited for the right time.

The United States is currently waging a war on regulation.

If you are the president of a country, you should make sure that the economy runs well. Do you think you can do that by strengthening regulations and abusing executive orders?

The chairman of the regulatory commission, Harold Johnson, passed away recently, and the mood in the United States is very chaotic right now.

As AOPR calls on the U.S. government to ease regulations, a tense tug-of-war begins, and American citizens, tired of the government’s excessive executive orders, are demanding a smaller government.

“Federal Government!! You guys don’t do anything!!”

“We take care of our own business!!”

This is the recent public sentiment of Americans,

Of course, there are many federalists who call for a strong America, but such beliefs are meaningless in the face of skyrocketing prices.

Department stores are also closing down due to management difficulties, so what’s different about a neighborhood mart?

Citizens are driving far away to shop for groceries at even the lowest prices. This is all because the federal government is regulating department stores and large discount stores and blocking the issuance of gift certificates.

Are you willing to tolerate government regulation in order to uphold government authority?

The common people want the food that goes into their mouths to be cheap, and the government authority thinks about that later.

Eventually, the regulations will collapse, and Macia’s financial situation has deteriorated to the point where it can no longer endure, so it has sold its real estate.

However, Daehan Transportation was a company with enough capacity to endure, and Director Park Jae-ok waited patiently for the results.

[The US government finally gave in.]

[Seems to be burdened by the death of Harold Johnson]

The results came out faster than expected.

Harold Johnson, as chairman of the regulatory commission, was the mastermind behind the abuse of regulatory policies, but in reality he was a brazen man who enjoyed vacations with his mistress.

“Regulate department stores? We regulate you!!”

“You dirty bastard who commits adultery!! Why did you take the daughter of the woman you had an affair with on vacation? Were you both having an affair?!!”

“You died well!! People like you are better off not being in this world!!”

When American society learned the truth, it was outraged.

There is a limit to shamelessness. How could such a person control American society while disguising himself as a bureaucrat? The president who appointed such a person is also a problem. Bill Clinton’s approval rating plummeted from 43% to 26%.

The aftermath of Harold Johnson’s death,

Bill Clinton cut his 150,000-page executive order in half.

The regulatory policy that the regulatory committee had been promoting has also been effectively abandoned, and with gift certificate regulations largely abolished, companies have been able to print gift certificates.

In particular, Daehan Transportation is a company that can do that, and since it is responsible for both distribution and sales, it can print gift certificates according to the quantity.

If the government or local governments print gift certificates, taxes will have to be invested, and since gift certificates can only be used to purchase certain items, consumers’ choices are limited.

However, when a company issues gift certificates, the cost of issuing the gift certificates is only 3% of the face value, and besides, these are gift certificates, but they are no different from securities that can be used like cash.

If you were a consumer, would you rather use a government-issued gift certificate or a corporate-issued gift certificate?

Even if you print gift certificates (local coupons) with taxes, it’s like taking out the bottom stone and putting the top stone on top. In the end, gift certificates only become effective when they are issued by companies.

In this way, Daehan Transportation began printing gift certificates to stimulate the local economy, which caused a storm in the American economy.

Didn’t Americans go on expeditions to places where things were cheap until recently?

If this were to happen, the local economy would just drain out, but since Daehan Transportation distributed gift certificates to the region, that kind of thing has disappeared.

The securities issued by companies began to support the local economy.

Sales at local department stores and marts that were on the verge of collapse are also starting to pick up.

This is also the case for department stores under Macia, which was acquired by Daehan Transportation. Of the 150 stores that should have been closed, about 70 of them turned into net profits.

It was bought for $4.2 billion, but how much will its real value increase in the future?

What is clear is that if real estate prices rise, Daehan Transportation can use that as a basis to print more securities.

As the issuance of listed securities increases, the local economy also revives and real estate prices rise, killing two birds with one stone. Through this project, Daehan Transportation has increased its local sales in the U.S. by $2.2 billion.

The number of stores operated in the United States alone (including department stores and large marts) is 350.

The value of the real estate attached to it was $128.8 billion, and a single distribution company accounted for 6.3% of all real estate in the United States.

***

“Your Majesty, our real estate rental income this quarter was $3.8 billion.”

“What is the amount of securities issued?”

“It will soon exceed $5 billion. The American people are satisfied.”

“Then it’s over.”

This is the AOPR headquarters in Sri Lanka,

I’ve been to a country on the other side of the Pacific Ocean.

When corporations start issuing securities and supporting local economies, it means that government functions are effectively paralyzed.

But is that government, the United States, the world’s largest government, being manipulated by a single company?

But this didn’t happen overnight. I’ve been persistently targeting the US market for about 20 years, since my early 40s.

The effects are now showing,

As California and Texas, where Daehan Transportation took root, emerged as economic centers, commercial districts in other regions quickly collapsed.

Even if the US government regulates it, it is irreversible. I am just chopping down a falling tree.

In the future, the US economy will be supported by the dollar and securities issued by Daehan Transportation. In effect, I hold the right to issue US currency.

If this happens, the financial sector will have no choice but to step under me, and if the amount of listed securities increases, it will have the same effect as an increase in the amount of currency circulating in the market.

It’s strange that the financial sector isn’t responding.

As the amount of securities issued increased, bond trading also became more flexible.

As the previously stagnant U.S. economy began to turn around little by little, the big players in the market lined up to buy Daehan Transportation.

One of them is Paul Goldman, the AOPR’s Treasury Secretary.

Paul Goldman is a Jewish businessman who has been following me for 20 years and his influence is enough to move the American Jewish community.

If I have the power to issue currency and can even influence the Jewish community, America is now my land.

The American people are on my side too,

Jewish bigwigs urged the establishment of a world government.

[Your Majesty, now is not the time to be entangled with the likes of India. Southern India is now under the control of AOPR, so we should withdraw at this point and hasten the establishment of a world government. Of course, you should be the first president of the world government.]

[Just give the order and I’ll make room for you.]

The establishment of a world government is now truly within sight.

I could have returned and become the president of the world, but I stayed in Sri Lanka and observed the situation.

‘You figure it out, I won’t say anything.’

Jewish businessmen are all just after me for money. Can we trust these guys to establish a world government?

If you don’t believe me, you can have a loyalty competition. What kind of guy would give me his liver and gallbladder?

Since there was no rush, I went across the river to India and watched the fire.

That’s how the competition for loyalty began. When I chose neutrality, the Jewish businessmen started to bite and tear at each other.