The Magician’s Memorial - Chapter 275



Only Noblemtl

275. I’m still hungry (5)

The Blue House was a very closed space.

They say it could not be helped because the war was not over yet, but it looked like a building built inside a fortress.

The Blue House seems cut off from the world.

Therefore, anyone who came to the Blue House for the first time was likely to be dispirited.

But I didn’t. Because I’ve been to many places that are more isolated than the Blue House.

From the White House in the United States to the Kremlin in Russia.

Therefore, I was able to move to the conference venue with a steady pace.

“Nice to meet you. I am Uk-Jun Woo, Chief of Staff to the President. I am finally able to meet the head of the Taewo Group. I contacted Chairman Tae-Jung Kim several times to ask to meet him, but he has just resigned from his position as Chairman and gone to Vietnam.”

“It may have been because my grandfather was quite old. But now that I have taken over the position of chairman, I will see him often and talk to him.”

Presidential Chief of Staff Uk-Jun Woo.

He was said to be the de facto second-in-command of this administration.

He was also the person who created the Grand Canal project, the president’s biggest pledge.

“I heard that you went to America for a long period of time. You went to school there too, right? Maybe that’s why you don’t know much about Korean culture. I will soon teach you about Korean culture of etiquette.”

“I will learn well since you tell me.”

It was the President’s chief of staff, Woo Woo-jun, who spoke as if he were a subordinate.

Well, it’s worth it. It was Taewo Group that completely acted as a bystander during the primary process.

From the second-in-command’s perspective, there was no way Taewoo Group would look good.

“Please be careful as this is a private meeting with the President. Please refrain from making offensive remarks.”

“I will do that.”

“Then I’ll show you inside.”

As I entered the venue, I saw the president.

The president of Korea has imperial power.

Although not as strong as during the military regime, the president of Korea still had omnipotent power.

However, there was no need to stoop so low as the power would disappear in just five years.

“Nice to meet you. My name is Minjae Kim from Taewoo Group.”

“It’s nice to meet you, the first person in Korea to hold the position of president in his 30s.”

The president smiled kindly and offered to shake my hand.

It was clear that he had a business mind, perhaps because he was someone who had been involved in the business world.

“I’m sorry for the delay in greeting you. I was on a long business trip to the U.S. so I didn’t have time to say hello.”

“It’s okay. We just need to see each other often from now on, right? We don’t have time, so let’s get straight to the point. What do you think about Korea Development Bank’s acquisition of Lehman Brothers?”

This is a question from the beginning.

Normally, we would exchange at least a few words to break the ice, but perhaps we were in a hurry and got straight to the point.

“I believe that if Korea Development Bank does its best, it will be able to fully acquire Lehman Brothers.”

“I don’t want to hear such abstract words. I want to know what will happen if Korea Development Bank acquires Lehman Brothers.”

“Isn’t that a matter of the Korea Development Bank’s capabilities?”

“I want to hear your worst assumption.”

I tried to avoid answering somehow.

The President blocked the hole through which I could escape.

If it comes out like this, there’s no need for me to run away.

“The Korea Development Bank may go bankrupt due to the acquisition of Lehman Brothers. The moment that happens, Korea will face the IMF again.”

“Hmm, what percentage do you think that’s the probability?”

“At least 30% or more.”

“Huh, is it that high? Then why didn’t you stop Korea Development Bank when it said it was going to acquire Lehman Brothers!”

“Because the possibility of success is that high. If we can acquire and stabilize Lehman Brothers, Korea Development Bank can immediately grow into a world-ranking private bank.”

This was the result of over-running the hope circuit.

The possibility of this outcome was very slim, but it was by no means impossible.

This could have been possible if the Korean government gave its all to the Korea Development Bank.

“It’s not like there’s no possibility at all.”

“Even if it’s a bottomless pot, if you pour a lot of water into it faster than the water drains, it will eventually fill up.”

“I understand that we need to make a huge investment. So how much investment can we make to stabilize Lehman Brothers?”

“If we give up the Grand Canal and Four Major Rivers project and put all the funds into Lehman Brothers, we can slightly increase our chances.”

The project cost of the Four Major Rivers Project is approximately 20 trillion won.

If the financial power of the Korea Development Bank was added to that money, it was possible to withstand stabilization to some extent, even if it was difficult.

If we found a way while holding on, stabilization was possible.

If it had simply held on, Korea Development Bank would have gone bankrupt with Lehman Brothers still in its grip.

“Even if we invest all of the funds for the Four Major Rivers Project… won’t it end up being successful, rather than just slightly increasing the likelihood of success?”

“If we receive support from the U.S. government, the chances of success may be slightly higher, and the more South Korea’s budget is invested, the more likely it is.”

“It really is a matter of pouring water into a bottomless pot.”

A president in trouble.

He touched his chin for a while before opening his mouth again.

“You can’t bet on the rise and fall of a country as a gamble. The acquisition of Lehman Brothers should be reexamined from the beginning.”

“I encourage you to listen to other experts as well. Not everything I say is right.”

“I wonder if there is a better expert than the person who made Taewoo Group No. 1 in the business world and created the SAVE investment company, which was well-known on Wall Street. And there were also voices of skepticism coming from the Ministry of Finance.”

You called me with the outcome already decided.

The President’s exclusive think tank, including the Treasury Department, must have been opposing the acquisition of Lehman Brothers.

It seemed like he had called me and had a conversation to put a final stop to it.

“Aren’t you disappointed? If we can successfully acquire Lehman Brothers and turn it into a Korean company, it will be a huge achievement.”

“If he fails, he will be recorded as the worst president. If you are in this position, you are bound to be afraid of failure. This happens because the approval rating report card comes out every day.”

Who likes failure?

Especially in the case of politicians, failure meant a decline in approval ratings and could instantly destroy the tower they had worked so hard to build.

That’s why the gift I prepared was meaningful.

It was not a burden at all for the president, but it was something that could add to his accomplishments.

“It seems that Mr. President is very interested in the financial sector, so I would like to make a suggestion.”

“Please speak comfortably.”

“Currently, the financial hubs in Asia are Hong Kong or Japan. I want to make Korea a financial hub country.”

The president looked at me without even breathing.

Make Korea a financial hub.

This was a topic that was bound to attract attention because it was something that no president had ever done before.

“Is that possible? Since we acquired AIZ, AIZ may be able to move its Asian base to Korea, but other financial companies will not move easily.”

“Of course, we can’t just move it. That’s why we need the government’s help. We will build a huge skyscraper on the KEPCO site owned by Taewo Group and turn it into an Asian base for global financial companies.”

The idle KEPCO site is being developed under the pretext of becoming a financial hub.

This was by no means only for the development of KEPCO land, but was also an opportunity to serve as a stepping stone for pioneering the financial market.

In the future, finance will become even more important.

So, in the Asian region, Korea acts as a hub.

Taewoo Group was planning to stand tall at the center.

To achieve this, deregulation and various support from the Korean government were essential.

“Hmm, making Korea a financial hub by building high-rise buildings? No matter how great the high-rise buildings are, will global financial companies come to Korea? If it were that easy, other countries would have done the same.”

“I can make that happen using the connections and assets I have. However, in order to become an Asian financial hub, diverse business opportunities and a transparent legal system are essential. And easing regulations to build high-rise buildings must be a priority.”

The most important words were at the end.

Construction of high-rise buildings through deregulation.

Even if we can’t turn it into a financial hub, high-rise buildings will remain.

“If we can make it into a financial hub, what can we do? The ruling party will actively ease regulations, revise the legal system, and even enact various support projects into legislation. But we can’t just do it. We need to show at least something tangible so we can have a reason to move. .”

“Would it be enough to sign contracts with more than 10 large financial companies on Wall Street? Of course, there are only about 10 right now, but we are confident that we will attract at least 30 more before the building construction is completed.”

“Hmm, 10 isn’t bad. But 10 small and medium-sized financial companies isn’t enough.”

“I will soon bring contracts from 10 financial companies whose names everyone will know.”

It wasn’t a difficult task.

The problem was maintenance.

Even if they moved to Korea, they were financial companies that would leave if they did not like them.

“If we start construction now, will it be completed within my term?”

“It is entirely possible if the regulations are lifted within this year. We will mobilize all of Taewo Construction’s capabilities to complete the construction within the term and officially announce it as an Asian financial hub.”

“It won’t be easy to ease regulations. There are so many people who unconditionally oppose anything done by the ruling party.”

Korean politics was originally like that.

The ruling party and the opposition party were opposing for the sake of opposing.

In particular, this trend would become stronger as time passed, but we had a card called the National Economy Party.

If only one party, the ruling party or the opposition party, agrees.

By moving the National Economy Party, we were able to secure more than half of the votes in favor.

“Who would oppose the idea of ​​making Korea the financial center of Asia? And the President will go down in history as the person who made Korea a financial center.”

“Hehehe, that’s really good to hear. If it’s possible, I won’t listen to the failed president. Please show us the evidence as quickly as possible. Only then can we move.”

It was a president whose expression changed drastically.

Even when talking about the acquisition of Lehman Brothers, his face was very angry.

The lips turned slightly upward at the mention of the Asian financial hub.

“I plan to visit the United States in person soon. I will make an official announcement at the Taewoo Group level as soon as I return from my business trip to the United States.”

“That’s very good. But Taewoo Group shouldn’t make an announcement. Shouldn’t the Blue House take the lead in such an important matter?”

Are you saying you want to do this as a project led by the Blue House from the beginning?

I could have given up on that kind of pretense.

Rather, I was just grateful that they did the annoying work for me.

“Then, as soon as I return from my business trip to the U.S., I will send all the materials to the Blue House.”

“Please pick up the direct number for the President’s Chief of Staff on your way. Then, I will end the meeting. I have to meet the other presidents as well, so we are running out of time. Next time, I hope we can meet outside and have a chance to talk at length.”

“I will eagerly await such an opportunity.”

He stood up with a handshake.

As we came out, the presidential chief of staff who was waiting quickly approached us.

I was able to leave the Blue House only after receiving a business card with a direct number from him.