The Highest Level Son of a Chaebol Family - Chapter 342



Only Noblemtl

342. Oh my, customer!

“what?”

The leader of the Liberal Democratic Party found it difficult to believe this situation.

“Are you saying that all the yakuza refused the request?”

“Yes, sir.”

The leader of the Liberal Democratic Party burst into laughter at the aide’s report.

“Even threatening?”

“He told me not to try to force him into something so trivial.”

“her!”

The LDP leader’s smile was cold.

“The guys who flew all the way to Korea to take over Jeongdongjin’s district are now coming here and quietly kicking it out?”

“He said it didn’t seem like the money would be worth the effort.”

“Nonsense! There’s nothing more lucrative than drug distribution.”

“They were caught by the police and suffered severely during their trip to Korea this time, didn’t they?”

That’s true.

During my stay in Korea, the Korean government declared a major war on drugs.

As a result of pointing out that the yakuza executives were the main culprits of overseas drug distribution, they were helplessly taken to the central police.

That fact was reported in the daily news in Korea, and the leader of the Liberal Democratic Party also personally confirmed it.

“Come to think of it, how did those guys get out so quickly, and even unharmed?”

It’s suspicious.

Didn’t the Korean government hold a large-scale press conference to sway public opinion?

They were the ones who were sacrificed as an example in the declaration of a large-scale war on drugs.

‘It’s suspicious that the body wasn’t found, but it’s even more suspicious that he was released so early.’

The Liberal Democratic Party leader’s eyes narrowed.

‘Surely he’s not being afraid of the Korean government and sacrificing his life.’

That can’t be it!

No matter what, it’s like that!

Where did the leader of Japan’s representative crime syndicate that dominates Japan end up?

‘But it’s really strange.’

Are those guys who would do anything for money and stick their heads in it, giving up so easily?

‘Why on earth would these clever guys change their minds so suddenly? Surely they didn’t decide to team up with Jeong Dong-jin?’

If that’s the case, I can’t just sit back and watch!

How can you change your mind faster than politicians who are known to be masters of changing their words and uniting and disintegrating?

“빌어먹을 개새끼들, 어디 두고 보자. 우리가 범죄와의 전쟁을 선포하는 순간 너희들은 X 되는 거야.”

The leader of the Liberal Democratic Party was busy sharpening his teeth.

“Call the Tokyo District Public Prosecutors Office Special Investigation Division.”

You yakuza bastards, where did you get the nerve to act so fearlessly?

It seems like the public authority is really funny because I’m quietly turning a blind eye to it?

‘It was said, ‘controlling barbarians with barbarians.’ We should start stirring things up right away, starting from the place that is most deeply intertwined with Jeongdongjin.’

It’s easy to become like-minded with someone who has the same enemy.

“Call back to the bank presidents.”

“yes.”

Jeong Dong-jin is a man who made a fortune in the private loan business in Japan.

The opposing force would have to be those working in institutional finance.

“I also called loan sharks, including the skunks in the southeast.”

“yes.”

Also, they would be competitors in the same market.

Isn’t this a golden opportunity to take over the Japanese private loan market that Jeong Dong-jin has been dominating?

Those guys who were just waiting for a chance to devour me will all be furious and rush in.

* * *

“Can our bank take over the private bonds? Hmm… … .”

President Sumitomo sounded embarrassed the whole time he was on the phone.

“I fully understand the intention of the Liberal Democratic Party leader.”

Without being able to outright refuse or show any noticeable delight.

“As this is an important matter, I would like you to give me some time to think about it.”

In an ambiguous posture, with an ambiguous attitude.

“Isn’t this a big deal? If it’s Jeongdongjin’s private loan, our Sumitomo Bank alone can’t handle it… … Hehehehe.”

He keeps on making a face that is awkward and neither smiling nor smirking, and keeps on speaking softly.

“But what should I do? I’m in the middle of a difficult interview with a very important foreign buyer. I’ll get back to you.”

President Sumitomo carefully put the phone down.

Click.

I’m scared to put the phone down.

President Sumitomo immediately changed into a friendly expression.

“Oh, I’m so sorry for keeping you waiting. We unexpectedly cut off an important conversation.”

Bank President Sumitomo burst into laughter, walked over with brisk strides, and plopped down on the reception sofa.

“You left Nomura Real Estate. So, where did we end our conversation?”

“Sumitomo Bank welcomes real estate collateralized loans,” he said.

President Shim smiled blandly and in a calm tone.

“You developed a real estate mortgage certificate with a grace period of a whopping 100 years.”

What does the 100-year grace period mean?

It meant that only the loan interest would be received for 100 years, and the principal would be repaid after 100 years.

Doesn’t that seem like an unreasonable condition?

But it was precisely at this time, in Japan’s real estate market, that such absurd conditions prevailed.

Real estate prices are skyrocketing day by day.

“Hahaha, that’s one of the reasons why our Sumitomo Bank has surpassed commercial banks and become the best bank in Japan, no, the best bank in the world.”

Surprisingly, in the 1980s, Sumitomo Bank ranked third in market capitalization among the world’s top 50 companies.

That wasn’t all.

Most of the Japanese financial sector, including Aichi Kangyo Bank, Fujisan Bank, Mitsubishi Heavy Industries, Nomura Investment Bank, Sanwa Bank, Tokyo Kai Bank, and Mitsura Bank, have risen to the top of the global corporate market in market capitalization.

‘At that time, Japanese banks were called perpetual motion machines.’

President Sumitomo sat on the sofa with an arrogant expression and folded his hands.

“In that sense, coming to our Sumitomo Bank was an excellent choice.”

I sat quietly next to President Shim and smiled brightly.

“Sumitomo Bank is particularly interested in purchasing real estate in commercial and business districts in the Tokyo area, right?”

Japanese banks had significant real estate holdings.

Because it was requested as collateral for the loan.

“What is the mortgage loan ratio in Japan?”

“First of all, the legal loan ratio is about 70% of the property value.”

President Sumitomo smiled secretly.

“Who does business in such a rustic way these days? Our Sumitomo Bank lends about 110 to 120 percent of the market price of real estate.”

I knew it, but it’s still surprising to hear it again!

I can’t help but give a thumbs up to the Japanese practices of this era!

‘Because the real estate collateral ratio was high, and as the value of the real estate increased, the loan limit also increased, which in turn increased the bank’s profits.’

Thanks to this, Japanese financial circles were enjoying a very salty profit from real estate profits.

‘It’s also because Japan has seen a trade surplus of nearly 6 trillion yen with the United States in recent years.’

As the trade surplus increases, the amount of money released into the market will naturally increase.

“I heard that in Japan, the returns on fixed-price assets such as bank deposits and bonds are low compared to the returns on real estate.”

Is it just that it’s low?

Until the 1970s, Japanese bond and deposit yields had always recorded negative returns relative to inflation.

“You must be having a hard time because of financial regulations.”

As part of the effort to kill the conglomerates, Japan’s financial regulations were heavily pushed and restricted by the United States.

It was one of the decisive factors that led to the real estate bubble in Japan.

“What can I do? Instead, I’m making a lot of profit from the real estate mortgage loan proceeds, so that’s fine.”

President Sumitomo covered his bitter smile with a kind face.

It was only natural that the extra money that had nowhere to go would flow into real estate.

As Korea’s economy grew rapidly, didn’t land prices also rise sharply?

Japan was more than Korea, it couldn’t have been less.

“Isn’t there a lot of real estate that can be used as collateral?”

“It’ll be quite a while, right?”

My voice also became quieter.

“Tokyo alone has 127,000 pyeong of land and 4,890 buildings.”

“omg!”

Sumitomo Bank President held his breath.

“Osaka 58,000 pyeong, Nagoya 42,000 pyeong, Sapporo 39,000 pyeong, Sendai 32,000 pyeong, Hiroshima 22,000 pyeong, Fukuoka 18,000 pyeong.”

“Ugh!”

“You can see that the majority of buildings are built on land in commercial and business districts.”

“Ugh!”

“In short, we plan to borrow as much as possible using all of the real estate owned by Nakamura Real Estate as collateral.”

“Khuh huh huh!”

As he spoke, President Sumitomo’s eyes widened.

At the end, it was so loud that it felt like it was going to tear apart.

“For your information, Nakamura Real Estate is planning to raise the rent considerably starting this month.”

“Oh, right. The rent needs to be raised!”

President Sumitomo nodded vigorously.

“I was already wondering why Nakamura Real Estate had only raised the rent by a tiny amount.”

Well, that’s because the skunk from the southeast was managing the real estate company like some shit.

But I can’t just say this out loud?

“So this time, I’m going to try to get the rent I couldn’t raise for a while.”

“If it’s worth it, then to what extent… … .”

“Wangchang.”

I smiled brightly.

“I plan to take this opportunity to significantly increase my real estate investment.”

“Ohhhhh!”

Greed began to burn brightly in President Sumitomo’s eyes.

“That’s a very good idea! Of course, we should raise real estate rents and increase real estate investment!”

As real estate profits increase, real estate prices rise.

As real estate prices rise, more real estate loans are issued.

The more real estate loans a bank receives, the greater its profits.

When you open your eyes, real estate prices are rising again and money is pouring in from people looking to get rich quick.

Japanese real estate is the goose that lays the golden eggs and the source of wealth that has made Japan’s financial sector a “perpetual motion machine.”

This is how the myth of Japan’s real estate’s invincibility was built.

“We at Sumitomo Bank fully support our customers’ real estate loans!”

President Sumitomo came running over, beaming with delight.

When I grabbed both of President Shim’s hands instead of mine, President Shim blushed.

“Hey, give me this hand… … .”

“I have long known the reputation of Nakamura Real Estate!”

“Ah, that’s… … .”

“You have so much prime real estate in Tokyo!”

“So that’s… … .”

“I have always wondered why a company with such a large real estate asset base like Nakamura Real Estate has been expanding so passively!”

“Ah, that’s… … .”

“Isn’t that an inefficient use of resources?”

“… … .”

What happened? President Shim doesn’t have time to answer!

Eventually, President Shim gave up and gave up answering.

Sumitomo Bank President snorted and raised his voice in excitement.

“If you sold all your real estate in Tokyo, you could buy the entire state of California and still have some left over.”

Funny enough, this was a time when this made sense.

There was a time when it was rumored that the land value of the Japanese Imperial Palace in Tokyo, Japan was more expensive than the entire state of California.

It was a time when wealth was constantly being created, just like a well in a legend.

“Now is the time for Nakamura Real Estate and Sumitomo Bank to work together and make a lot of money!”

“That’s a very good idea.”

The handshake was between President Sumitomo Bank and President Shim, and I was the one who struck the gong.

“So, what is the maximum real estate collateral loan ratio that Sumitomo Bank can give?”

“As I said before, we are 110~120%… … .”

“I’m sorry about this.”

I jumped up from my seat.

At the same time, President Shim also shook off the hand that was being grabbed by President Sumitomo Bank.

“No, sir! Why all of a sudden… …!”

“Do you know there’s only one bank here?”

I dug my ears with my little fingers.

“Aichi Kangyo Bank, Fujisan Bank, Mitsubishi Heavy Industries, Ltd., Nomura Investment Bank, Sanho Bank, Tokyo Kai Bank, Mitsura Bank.”

“Oh my, customer!”

“When it comes to real estate secured loans, everyone jumps out at the chance. Oh, there are so many banks in Japan that are considered world-class.”

“I guarantee that no matter where you go, you won’t find conditions as generous as our Sumitomo Bank!”

“That’s what the bank president thinks. Our Nakamura Real Estate owns 127,000 pyeong of land in Tokyo alone and has 4,890 buildings!”

I blew out the earwax that had accumulated on my fingernail.

“Rents are high, loans are high, and with economies of scale, bidding on large chunks of real estate that other real estate investment companies would never even think of is high!”

“How far have you thought about it?”

“Isn’t that up to the bank manager?”

I smiled brightly.

“So, to what extent can the collateral loan ratio be adjusted?”

“Up to about 125%… … .”

“You’re being petty. Then we can only hand over real estate in Osaka and other regions to Sumitomo Bank.”

“wait a minute!”

Sumitomo Bank President screamed.

“130%! This is impossible!”

So I asked.

“What about the interest rate?”

“… … .”

Even if you look at it, it looks like there’s still a lot of room for cutting.

“There’s nothing we can do. Then we should also just get the appropriate trash items… … .”

“Oh my, customer! What about the interest rate? Of course we should lower it!”

It’s not over yet.

“The reason why Sumitomo Bank was able to become the best bank in Japan, no, the best bank in the world!”

“Well, the grace period is… … .”

“I’ll make it all 100 years.”