The Highest Level Son of a Chaebol Family - Chapter 277



Only Noblemtl

As the grim reaper was sucked into the door like smoke,

thud!

The door to the Blue House state guest room was closed.

The president, smoking a cigarette, sat at the head of the state room.

The cigarette smoke was so thick it looked like a raccoon’s den.

The chief of security at the Blue House looked over the faces of the conglomerate leaders lined up on either side of him, holding a glass ashtray.

He found Taesung Construction CEO Lee Gyeong-seok sitting at the bottom and his father and snickered.

“Hmm.”

Meaningful gaze and persistent interest.

Taesung Construction CEO Lee Gyeong-seok was so flustered that he didn’t know where to look.

On the other hand, my father put his hands in his pockets with a calm expression.

Rustle.

‘Hmm? That’s strange. Didn’t I ask you to make sure that the note is taken care of earlier?’

Because my father was surprised by the sudden call to the Blue House.

I scribbled down three notes on the spot.

-Why don’t you say it out loud?

-Walls have ears, and writing is the best way to keep confidential information.

Mansour and Muhammad’s interpreter are listening intently.

-I remember the old days. Back then, when I was given a subway map, and when I was invited to His Majesty’s drinking party, I received something like this.

-Do you remember how Secretary Kim handled the aftermath? Please do the same.

-Good. Dad can eat paper well too.

-Ah! Wouldn’t it be enough to just tear it up and throw it away?

Father smiled broadly.

He kissed my cheek so hard it made a squeaking sound.

-Is this really sturdy?

My father patted his chest and smiled confidently.

-I must do my best to live up to our Jeong-hyeok’s expectations.

-Our dad, fighting!

That’s clearly how the story ended.

Knock knock.

“what?”

“Your Majesty, we have an urgent call from the Ministry of Foreign Affairs. I think you should answer it.”

“later.”

The aide, who would have normally backed off, hesitated and kept moving his lips.

The president furrowed his brow.

“America, Europe, Japan, Taiwan. Where are you?”

“It’s the Middle East.”

“Iranian anti-government riots?”

“No, in the United Arab Emirates······.”

“Okay.”

The president waved his hand as if he was annoyed.

“Now, let’s start with the urgent matter.”

“······yes.”

Click.

As the door to the state room closed firmly, heavy silence and cigarette smoking followed.

The conglomerate leaders glanced at the president.

“I am very disappointed.”

“sorry.”

The conglomerate leaders who donated more than 500 million won bowed their heads at the same time.

The president glared coldly.

“The stock market’s chain of declines, which started with construction stocks, is this serious. Are we all just going to sit back and watch? Shouldn’t there be a solution?”

“Your Majesty, how about relaxing the real estate regulations a little?”

The Blue House policy chief opened his mouth cautiously.

“There is considerable opposition within the administration. The public’s complaints are also endless. If this continues, real estate will become a drag on the national economic development.”

“Don’t blame others. Taesung Construction is still going strong.”

“······.”

The Blue House policy chief was momentarily speechless.

“The fact that construction stocks are holding up this well is all thanks to Taesung Construction.”

“That is true, but construction stocks are still struggling to avoid a plunge.”

“They brought up the issue of the integrated steel mill, announced large-scale development of Honam, and even boasted about their performance in winning construction orders in the Middle East, but they are still making a fuss.”

The president clicked his tongue.

“What good is it if only Taesung Construction is on the rise? Other guys can’t do anything. What are we going to do about this?”

Taesung Construction’s performance covers the real estate crisis!

Contrary to what was planned, the stock market continued to sound risk alarms day after day.

“There is no answer because that is the way the construction company is run. Why would the shareholders just throw up their hands and walk away?”

The president threw a stack of papers on the table.

It was a report from the Blue House economic department titled “Measures to Respond to the Construction Stock Wave.”

“What a useless talk of countermeasures! Now is not the time to be leisurely discussing desk work.”

The president’s questions were directed at the conglomerate leaders.

“So you guys answer. As field workers, give your opinions.”

The conglomerate leaders swallowed dry saliva.

Even though I came here just to stamp my seal after donating 500 million won.

If I do this wrong, I don’t think I’ll ever get my initial investment back.

There was a deep furrow between the president’s eyebrows.

“Starting with the Three Emperors.”

“I agree with what the policy director said. First, the top priority is to ease regulations to secure liquidity and safety in the real estate market and to invigorate it.”

“Why?”

“I can’t crush my dream of owning a home.”

The president shook off the ash from his cigarette.

“With real estate prices skyrocketing, the common people’s dream of owning a home has become something that only exists for others.”

“And yet. Why is romance romantic? There is no greater incentive to encourage work.”

“Ilseong.”

“I agree with you. The demand is similar, but if the supply of apartments decreases due to excessive regulations, the price of houses will go up according to the logic of the market economy.”

“Hyunmu.”

“If we designate land regulation zones only in areas where speculation is a concern, we can stop speculation. If we try to regulate all other lands, it will be a waste of manpower and will cause resentment.”

The president took a cigarette back.

“Golden tide.”

“These regulations have caused people who were running real estate brokerage houses to lose their jobs en masse. The resentment of the unemployed is being directed at the ruling party and the Blue House. This will have a negative impact on the presidential election and the general election.”

“Blue moon.”

“It is realistically burdensome to hire expensive lawyers to mediate land transactions.”

“Tae-seong.”

“I think it would be a good idea to have people take the National Real Estate Agent Exam and manage only those who meet the qualifications.”

“Woo-kwang.”

“Woof woof!”

Woo Kwang’s Chairman Kim Dae-sik was already lying face down on the floor, pleading for leniency.

‘It seems that none of the issues the President raised are unrelated.’

The President’s eyes were cold as he looked at Chairman Kim Dae-sik of Wookwang.

“It seems like Wookwang Construction will have a hard time avoiding bankruptcy, right?”

“Woof woof!”

Wookwang’s Chairman Kim Dae-sik raised both hands above his head and prayed earnestly.

It was a desperate plea for help.

The Blue House policy chief tactfully changed the subject.

“The transfer tax is too high. I think it should be eased as well.”

“Public opinion is already negative because of the value-added tax.”

The Minister of the Interior also chimed in.

“The tax issue is a very sensitive issue. How about taking your time and moving forward gradually?”

As discussions about adjusting real estate regulations continue,

I was a little taken aback.

‘I was really nervous that the butterfly effect would be big, but it doesn’t seem to be that big of a deal, does it?’

The direction of improvement in real estate regulations also followed a similar tone to the past.

‘Did I worry for nothing?’

If I had known this would happen, I wouldn’t have written the note!

But what is this?

The president frowned.

“I asked them to come up with a solution, but all I got was criticism and no solution.”

There was a moment of silence.

The president stubbed out his cigarette nervously.

“Do you think public opinion will change now that you are revising a policy that has already been announced?”

The president’s voice became increasingly shrill.

“What more can you say than this incompetent government?”

It really irritated the president, who was already very sensitive.

The chief of staff of the Blue House opened his mouth in a panic.

“You have shown your will to crack down on real estate speculation by alternating between the carrot and the stick, so please show some flexibility to achieve national unity by loosening things up a bit······.”

“You want me to throw some firewood in here? What if the discontent spreads into riots like in Iran?”

“······.”

The Blue House policy chief kept his mouth shut.

There is information that the Busan and Masan regions are already in an uproar due to the construction stock market turmoil, creating an uneasy atmosphere.

“You need to look elsewhere.”

The president took a bite of a new cigarette.

“Hopeful news that can immediately capture the attention of the people! A rosy expectation that things will get better than they are now! We need a hotter issue.”

Because of the cigarettes.

The air was becoming increasingly hazy.

“Or you can offer up an arrow catcher to use as a sacrifice.”

Chairman Kim Dae-sik of Wookwang and Chairman Oh of Hyunmu trembled.

These two construction companies were already receiving criticism from the public due to the concentrated media coverage.

But the president’s eyes were turned towards Chairman Jang of Cheonma Group.

“Is Cheonma passing around unsold apartment bombs in Daechi-dong?”

The subject of the first note is like this?

My father smiled brightly, just like me.

Everyone was very nervous and only looked at the President and Chairman Jang of Cheonma Group.

At this moment, three people were paying attention to the father.

They were the chief of security at the Blue House, the chief of the Central Intelligence Agency, and Lee Gyeong-seok, the president of Taesung Construction.

“There must be a reason why he donated 500 million won to Cheonma.”

Cheonma Group, which has about 20 affiliated companies based on mining and construction.

The current ranking of the business world was outside the top 100.

The Cheonma Group, which used to be like that, was able to leap forward to become one of the top five conglomerates and the top real estate conglomerate in South Korea by selling out the Cheonma Apartment in Daechi-dong in just 20 days.

“You came all the way here to get rid of the regulated inventory, didn’t you? Am I wrong?”

“Your Majesty, please help me!”

Chairman Jang of Cheonma Group immediately knelt on the floor.

“There are 4,500 units of premium apartments with a selling price of 30 million won!”

Keeping in mind the skyrocketing apartment prices that are rising every day.

Because I was determined to make a lot of money and started working greedily.

“135 billion?”

The conglomerate leaders opened their eyes wide.

“Oh my god! What is the scale of a single apartment sale······!”

“If that goes over and the problem breaks out, we’re going to have a really severe real estate recession!”

Chairman Jang of Cheonma Group shouted urgently.

“The number of subcontractors mobilized for this project is around 60. If you include the construction workers attached to it, the number exceeds 7,000!”

It was said that the ripple effect was enormous.

The heads of the conglomerates looked at the president with serious faces.

“Your Majesty, the banks are blocking real estate-related loans. Subcontractors are barely holding on by abusing bills of exchange, regardless of whether they are short-term or long-term.”

“If Cheonma Apartment collapses, not only all the subcontractors but also all the construction workers will be on the ground.”

“If the subcontractor exercises its right of retention or the construction workers go on a general strike and the construction is halted······.”

“Even if we calculate the market price at 20 million won per unit, that’s 90 billion won. If that goes up in smoke and leads to bankruptcy. Haa······. This is going to be quite a headache.”

Sparks flew from the president’s eyes along with a bright blue light.

“If this isn’t real estate speculation, then what is?”

The gaze that glared at Chairman Jang of Cheonma Group was filled with murder and even madness.

“It was Cheonma who jumped into the speculation market in hopes of making a fortune, so why did the country and its people suffer the losses?”

“Go, Your Majesty!”

“How are you going to take responsibility?”

bang!

The president lost control of his anger and slammed his fist on the table.

“I asked him how he planned to stop this in the worst case scenario!”

“That······.”

“Why can’t you speak? You have a brain, so you must have a plan!”

“I was wrong!”

thud!

Chairman Jang of Cheonma Group immediately buried his head on the floor.

The president snorted.

“What difference does it make if you hit someone in the head?”

“Your Majesty, please spare me!”

“How much? How much do you owe in total for the construction costs?”

“I have committed a mortal sin!”

Cheonma Apartment was a large-scale project that Cheonma Group pursued with its life on the line.

Riding the wave of the ongoing real estate boom and Gangnam apartment sales boom.

It was something I jumped into confidently, thinking that there was absolutely no way I could fail.

In order to drastically reduce the construction cost, we decided to take a risk and build 4,500 units at once.

“So how much is it? Do you want me to call in the bank presidents who lent money to Cheonma to open your mouth? Or do you want me to drag you to the court?”

“I bought the gravel field in Daechi-dong cheaply. Out of the total land price of 8.2 billion won, 6 billion won was raised through a bank loan!”

Chairman Jang of Cheonma Group quickly poured it out.

“There are only two months left until completion. The exterior construction is complete, and only the interior construction remains. The balance will be paid after the sale······.”

“So how much do you owe in total so far!”

“About six hundred billion······.”

“60 billion?”

bang!

The president became so angry that he slammed both his fists on the table.

The head of the Blue House security service was so shocked that he quickly knelt down on one knee.

“Your Majesty, your damage has been inflicted!”

“Get out of the way!”

I was so excited.

The president glared at the head of the Blue House security service, who was examining his hand, and even slapped away his hand.

“When we caught the people whose names were on the Wookwang Construction bribery ledger and questioned them about who they received money from, Cheonma Group always came up!”

The President’s eyes upon Chairman Jang of Cheonma Group were like those of a traitor.

“Did you roast high-ranking government officials and members of the National Assembly and collude with the banking industry to engage in speculation and indulge in a debt feast?”

“I was wrong!”

“They probably intended to pass on the construction costs to the bank and subcontractors and even cut down on the balance.”

It was a typical case of tyranny by a large construction company.

Cheonma Group has grown in size in this way.

“If subcontractors go bankrupt because of you and the unsold apartments are put on the chopping block, who are you going to blame for the aftermath?”

The president, unable to bear it any longer, looked back at the chief of the central government.

“Take this kid too!”

“Cheonma Apartment! The contract for all units has been completed, so Your Majesty, there is no need to worry!”

Chairman Jang of Cheonma Group held onto his grandfather and hung on.

“Tae Sung’s CEO Shim came first and made a proposal. He said he wanted to buy Cheonma Apartment!”

Chairman Jang of Cheonma Group’s intentions were clear.

“Taesung Construction has a lot of funds! So there will be no problem paying the balance to the subcontractor and paying back the interest and principal!”

Are you secretly going to pass on all the subcontracting fees and loans to us?

I knew it!

The president looked at his grandfather with a suspicious look on his face.

“Is this true? Is this something that you and Taesung have agreed on?”

At this point, my father quickly intervened.

“Yes, five million won per unit in Cheonma Apartment in Daechi-dong.”

“······!”

“Since you are in dire financial straits, we agreed to sell them all in one bundle.”

“Ugh!”

Chairman Jang of Cheonma Group turned around with his mouth wide open.

When President Shim proposed, the price of Cheonma Apartment, which was 10 million won per unit, suddenly dropped to half.

My father opened his mouth with a cold expression.

“I didn’t have time to bring the contract. If I write it again here, will you believe me?”

My father took a slightly crumpled piece of paper out of his pocket.

My father smiled brightly as he took out his Mont Blanc fountain pen.

“It only takes one minute to sign and stamp.”

End

ⓒ Osorok

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