The Highest Level Son of a Chaebol Family - Chapter 267



Only Noblemtl

Ten million won for one apartment in Daechi-dong Cheonma Apartment!

As soon as President Shim finished his proposal, the president of Cheonma Construction growled.

-You want to give it to me for half price?

-It’s not that much of a losing proposition.

President Shim leisurely sucked on the health pack.

Because the coffee that Cheonma Construction provided looked so tasteless.

Mr. Shim’s usual opinion was that it was a good business to drink health supplements instead of coffee.

-I heard that when Cheonma Construction bought the land in Daechi-dong, the land price wasn’t that high because the surrounding area was mostly rice paddies and fields.

-Mr. Shim!

– In addition, by building large complexes all at once to save on construction costs, the per-unit construction cost was also greatly reduced, right?

That wasn’t all.

– Are you saying that Cheonma Group is holding out without paying the balance or down payment to its subcontractors because their funding source has been blocked?

-Hey, Mr. Shim!

-The subcontractors were making a fuss, complaining and threatening to file complaints with the Blue House and broadcasting stations.

-What do you want to do now?

-As you can see, I’m asking for a bargain.

bang!

The president of Cheonma Construction could not stand it anymore and slammed the table.

-Bargaining? Mr. Shim, you haven’t been with Taesung Construction for a long time, so you probably don’t know much about this place. Go to a real estate agent right now and ask! How much does an apartment in Gangnam cost?

-I heard about this on my way back. I heard that transactions have stopped and unsold apartments are pouring out? Because of the government’s real estate regulations.

The repercussions of real estate regulation were enormous.

Construction stocks plummeted across the board, and real estate transactions came to a halt.

In addition, as bank lending rates soared and police crackdowns intensified, speculators fled.

There was a cold wind blowing through the real estate market right now.

-Because of the profit and real estate regulations, the funding source has been blocked a bit!

-If you don’t like it, don’t eat it.

President Shim spoke bluntly.

-We have no intention of forcing a sale on someone who refuses to sell.

-If you didn’t intend to do that, you shouldn’t have even made this suggestion in the first place!

-You should be grateful just for receiving this offer.

President Shim chuckled.

-Other construction companies grabbed my hand and said they would be grateful if I gave them half the price. Thanks to that, they avoided bankruptcy, right?

There are many large construction companies that have unsold apartments whose construction has been halted.

It was said that there are many options even if it is not Cheonma Apartment.

What is regrettable is not JH Investment, but Cheonma Construction, or rather, Cheonma Group.

-I guess the situation at Cheonma Group isn’t that different?

-her!

-They say that in the resale market, when things are booming, they sell at a premium on top of the regular price, but when the economy is frozen like it is now······.

President Shim shrugged his shoulders as if nothing had happened.

-Isn’t this the kind of world where people don’t open their wallets even if something is offered at a cheap price?

-Even so, that’s true! Ten million won for one? Isn’t that a steal, no, a piece of crap?

– It would be more profitable to sell it when someone comes along who is willing to buy it even at a low price. If Cheonma goes bankrupt like this, you won’t even be able to get the low price.

-Ugh!

The president of Cheonma Construction was unable to refute the claim.

The only one who opened his mouth leisurely was President Shim.

-You got a demand letter from the bank, right?

Cheonma Group jumped into the apartment sales business with its life on the line.

-You even took out a loan by using other factories and affiliated company shares as collateral. The quick-witted private loan market will not stand by and watch this situation unfold.

The private loan market is also the same in that if you go bankrupt, you won’t even be able to get your money’s worth.

Loan sharks are people who risk their lives more than anyone else to recover the principal.

So, as soon as they sense something sinister, they will mercilessly take action.

– Are you having trouble with the calculations? Think simply.

The president of Cheonma Construction couldn’t hide his complicated expression.

President Shim drove the wedge in.

-Do you want to sell it off at a low price to avoid bankruptcy, or do you want to hold on somehow and hope that the real estate market freezes out? There are only two choices.

The construction stock market crash started due to real estate regulation policies and pressure from banks.

If there is a beginning, there will be an end.

-As always, the stock market will eventually find its feet after the crash. Of course, whether Cheonma can hold out until then is another question.

President Shim stood up from his seat and adjusted his clothes.

– Then I will end my proposal here. I clearly understand your intention to reject it.

-Okay, wait a minute! Wait a minute, Mr. Shim!

The president of Cheonma Construction grabbed President Shim’s arm.

Her lips were parched and dry.

-Please give me time to think.

-Hmm?

-You know, there are so many people in our group. And it’s a 45 billion won deal.

-Then I’ll give you a week.

That’s how it went.

‘I can’t reveal this openly!’

This was not an issue to be discussed at the executive meeting of all Taesung Group affiliates.

In any case, it was something that JH Investment was pursuing independently.

One of the Taesung Group executives raised his hand.

“Mr. Shim, can I ask you one thing?”

“Yes, please do. What are you so curious about?”

“If you have the money to buy Cheonma Apartment, why don’t you look for Apgujeong Hyeonmu Apartment?”

Taesung Group executives nodded and opened their mouths.

“Cheonma Apartment is still a couple months away from completion, but Apgujeong Hyeonmu Apartment has started selling units.”

They said there would be no additional construction costs.

“Plus, the location is even better. It’s by the Han River.”

Unlike Cheonma Apartment in Daechi-dong, Hyeonmu Apartment in Apgujeong was very close to the Han River.

While constructing the Gyeongbu Expressway, Hyunmu Construction filled in public waters to store equipment imported from overseas.

At that time, Hyunmu Apartment was built on the land that had been secured.

“Since the construction of the Third Han River Bridge has made it a prime location, I think it is a more advantageous choice from an investment perspective.”

Hannam Bridge built in 1969.

It is a 12-lane bridge connecting Hannam-dong, Sinsa-dong, and Jamwon-dong, and refers to the former Gyeongbu Expressway No. 53.

Of all the bridges on the Han River, it had the largest number of round-trip lanes and the largest average daily vehicle traffic volume.

“What about the image? Hyunmu Construction was recognized as a leader in the construction of affluent apartments through the construction of Hyunmu Mansion in Ichon-dong.”

Originally, Hyunmu Construction was a large construction company that focused on national projects rather than housing projects.

However, he made a very lucrative profit by building the Hyunmu Mansion in Dongbuichon-dong in 1973.

This Hyunmu Mansion has become a symbol of one of the wealthiest neighborhoods.

“The Apgujeong Hyunmu Apartment is the premium apartment that Hyunmu Construction has ambitiously and purposely pushed forward.”

“Why else would they have advertised that they would convert the apartments they had prepared for the Hyunmu Group employees into general sales because they thought it would be a huge hit?”

President Shim smiled brightly.

“I did consider Hyunmu Apartment, but······.”

“Did you do it?”

“When I actually looked into it to invest, I noticed several things that were quite troubling.”

“Any issues?”

That was when.

Knock, knock, there was a knock on the conference room door.

Secretary Kim opened the conference room door, came in, and opened his mouth.

“This is breaking news. It seems that this issue is intertwined with the current construction stock crisis, so I will report to you urgently.”

“What’s going on?”

“The Apgujeong Hyunmu Apartment preferential distribution incident has broken out.”

“······!”

Everyone looked at President Shim with astonished eyes.

“At this timing······?”

The timing was perfect.

Secretary Kim added.

“It looks like someone has filed a complaint with the press. The prosecution is moving with unprecedented speed.”

Of course, I sent that complaint.

To be blunt, I planned it and Secretary Kim carried it out.

President Shim smiled brightly at the Taesung Group executives.

“That’s fortunate. If we had been unlucky enough to get involved, it would have been a disaster.”

Of course that won’t happen.

This is a game of Go-Stop that was set up from the beginning.

“As expected, President Shim’s foresight is truly amazing.”

Taesung Hotel CEO Hwang had a satisfied smile on his face.

“I thought you were only good at management, but you’re also lucky.”

Only then did the Taesung Group executives put aside their worries and burst into excited laughter again.

“I think this is more a matter of skill than luck.”

“You’ve been worrying about nothing.”

“There must have been a good reason why CEO Shim chose Cheonma Apartment over Hyunmu Apartment.”

“Since it involves a lot of money, let’s look at it a little more carefully, that’s what it was like.”

“I guess I ended up being too picky because the resale market was cold. Hahaha.”

President Shim waved his hand.

“You are too kind. To be honest, this is not a drawing I made, it is the work of Taesung Brain.”

If we send anonymous reports to the press, the Central Intelligence Agency will take care of the rest.

That’s what we agreed on.

“As expected, Taesung’s brain!”

“The pillar of Taesung!”

“Taeseong’s Great Plan!”

“Taeseong’s stepping stone!”

“Hahaha! That was incredible foresight!”

Everyone looked at Father with admiration.

Only my father, grandfather, and a few close associates looked at me.

I smiled faintly.

“Hmm.”

Mansour looked at me with a meaningful expression, his chin resting on his hand.

I turned my head away, pretending not to know.

‘This is something that the Chief of Staff first suggested to my grandfather.’

The head of the central government said.

-It won’t look good if you come out of the middle ground. If Taesung starts working at the broadcasting station, they won’t move the prosecution.

-You mean make a big fuss about it?

-If we’re going to do this, we should raise the banner of eradicating corruption. Shouldn’t we put gold on His Excellency the President’s face?

President Shim shrugged his shoulders.

“Originally, Hyunmu Construction received permission from the authorities to build 1,512 apartments, with 952 units to Hyunmu’s non-homeowning employees and the remaining 560 units to the general public.”

Taesung Group executives nodded as if it was a given.

“But when they actually started building apartments, a speculative frenzy for Gangnam apartments began, and they became very popular with the addition of premiums.”

If things go that way, obvious results will follow.

“Hyunmu Group executives and high-ranking government officials who had their eyes on this coveted the apartment.”

Good things are usually intercepted first by those who have money and power.

Of the 952 households that were supposed to be returned to Hyunmoo Group employees, only 291 were sold as office buildings.

The rest were all relatives of high-ranking public officials, members of the National Assembly, military generals, lawyers, medical professionals, journalists, and executives of Hyunmu Group.

Secretary Kim gave a word of encouragement.

“The prosecution announced that it has launched a large-scale investigation following a notification from the Blue House’s Office of Civil Affairs.”

The tangled web of facets is truly amazing.

It seems obvious that the investigation will be concluded hastily, to the point that the words “large-scale investigation” pale in comparison.

The intention behind bringing this incident to the surface, at this very moment, was quite clear.

‘It’s just a media play to try to improve the president’s image ahead of the presidential election.’

The current government has raised the banner of eradicating corruption.

Even if we turn a blind eye to the corruption that is secretly happening under the surface, we must strike down the corruption that is right in front of our eyes.

That was the way this government captured public sentiment and built its image.

‘This is a situation where we have decided to crack down on bad construction companies. Hyunmu Apartment has been properly targeted.’

It has become an example.

At this point, it was obvious what the Chief of Staff would say when summoning the Hyunmu Construction officials.

-I’ll try to save you. Of course, there are conditions.

The proposal that the head of the central government will make to Hyunmu Construction is also obvious.

‘Hyunmu Construction will have to give a considerable amount of its shares to the government, and the government will try to exchange those shares for political funds after blocking the construction stock wave with Taesung Construction.’

It was political fund laundering.

The chief of staff asked in a quiet voice.

-Chairman Cha, I heard that Hyunmu Construction took the Suseo-dong apartment site that Taesung owned. Don’t you want it back?

-Oh, no. That’s land that Hyunmu Construction bought at a high price.

-Anyway, since the former mayor designated the Suseo site as a development restricted area instead of the Sindorim site, it became a difficult land for Hyunmu Construction to deal with. They should receive the compensation when it is due.

The deputy prime minister rubbed his chin.

-Your Majesty said that he would make Taesung Construction a big name this time. If so, wouldn’t it be a big project that would be easily visible to the public, and isn’t there any useful issue?

-Well, then again, Gwangyang Steel Works and······.

-No, not something trivial like that.

The voice became even lower.

-You know what Your Majesty likes. For example, things like promoting national prestige, right?

-Maybe in the Middle East······.

-Yeah, that’s exactly it!

The head of the central government was openly jealous.

-That way, when His Majesty starts to crack down on the conglomerates in earnest, wouldn’t there be an excuse to exclude Taesung as if it were a reward?

It means to set up a ball.

If not, it was an unspoken pressure that Taesung could not be an exception in the taming of the conglomerates.

Grandfather had no choice but to nod.

-yes.

-If you don’t have it, you’ll have to make it and bring it to me.

-The new CEO of Taesung Construction is currently securing various construction orders in the Middle East.

-I guess I should call him in right away.

-I already received a telegram telling me to return home······.

-This is not the time to be so leisurely. It is His Majesty’s will, Chairman Cha.

Because the presidential election is just around the corner.

Thus, it was decided that the new Taesung Construction CEO, Lee Gyeong-seok, would return to Korea.

Even after receiving the order to become the president, President Lee Gyeong-seok continued to resist, saying, “A very big thing is right in front of us!”

He was arrested and taken away by Taesung Group security guards and sent back to Korea.

‘If it was a big project that CEO Lee Gyeong-seok put so much effort into, then it was······.’

I looked around the seat next to me.

Mansour was watching the meeting with an arrogant posture, haughty expression, and sparkling eyes.

The reason why my grandfather allowed an outsider, a foreigner at that, to attend the executive meeting and even gave him a VIP seat.

‘Is this Abu Dhabi International Airport?’

That’s just the right timing.

President Lee Gyeong-seok, you’re saying you managed to lure Mansour by any means necessary?

As expected, he is the talent I had my eye on······ Hmm?

Mansour sensed my gaze and chuckled in an extremely arrogant manner.

“······.”

What he put in my hand was a strawberry candy.

End

ⓒ Osorok

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