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CH100 | MCT
🕑 Added 2025-05-25 03:55:02 +0000 UTCTaeyang Group (3)
“What’s that?”
Everyone focused on Tae-soo.
“Put the money earned in Saudi Arabia and the surplus funds into Han-soo’s investment company.”
The investment company Han-soo established in the U.S. had already been used for money laundering.
The money made from arms smuggling and military supplies in Saudi Arabia flowed into the investment company.
That money then went back into Jangsu Bank as investment capital.
“There are three advantages to putting the money into the investment company.”
“What are they?”
“First, it cleanly solves the money laundering problem.”
Tae-soo explained.
“Jangsu Bank only keeps eating investment money without returning it. One tax investigation from above would expose everything. Do you think Park Jeonghwan would just sit back and watch?”
No way.
“If it were Park Jeonghwan, he’d start with a tax investigation.”
There’s no business without some dirt.
If caught, a huge ransom would be extorted.
“But if the investment company has withdrawn its invested capital, it looks legitimate to anyone. Suspicious funds won’t form, and your freedom of action will increase, sir.”
Ahn Jungwoo smiled, pleased.
“Second, Park Jeonghwan’s pressure will lessen.”
Currently, Jangsu Bank is ranked among the top five commercial banks.
That’s because Jang Maldong collected more than half of the underground loans.
Thanks to that capital, few banks can match Jangsu Bank.
It was a threatening bank from the start.
“Because Jangsu Bank is so big, Park Jeonghwan keeps a close watch, waiting for a chance. But if investment capital is withdrawn, the bank’s size shrinks considerably.”
“Then won’t our bank’s deposits also decrease? That could be seen as a credit problem.”
Customers might suspect a problem if the investment company withdraws funds.
But Tae-soo shook his head.
“Right now, the oil shock’s ripple effects have spread everywhere. The U.S. is in chaos because of the oil crisis. How many places are rushing to pull out investments?”
That made sense.
Right now, other companies were also faltering, one after another.
“If Jangsu Bank shrinks, Park Jeonghwan’s surveillance will loosen, and the pressure will decrease.”
Park Jeonghwan held the bank tightly in the palm of his hand.
He openly threatened to forcibly dismantle it if it didn’t obey.
“If you don’t want to be his money pouch whenever he calls, it’s better to reduce your size for now.”
“You’re right.”
Ahn Jungwoo nodded.
Park Jeonghwan’s pressure was indeed intensifying.
Hiding well in the shadows before, now that they had come into the light, such difficulties were inevitable.
“Park Jeonghwan won’t touch the U.S. investment company.”
“That’s right. Through the investment company, you can hunt the companies you want, acquire stocks, and also launder money.”
“Very good.”
Tae-soo spoke of the final advantage.
“Third, we can invest in Taeyang without defying Park Jeonghwan’s orders.”
Jang Maldong chuckled.
“So this was your goal all along, you cunning bastard.”
Ahn Jungwoo smiled broadly as well.
“You were willing to risk Park Jeonghwan’s wrath to provide funds. But if you can avoid open conflict with him, that’s better.”
It was a pleasant smile, so Tae-soo smiled back warmly.
“Park Jeonghwan’s goal is to cut off Taeyang’s money supply.”
This was the trick Han Cheong-ho was playing.
So right now, Tae-soo couldn’t get loans or investments through the bank.
“To finance through the bank, I’d have to meet Park Jeonghwan myself and negotiate. But that’s not easy.”
No president would easily meet a businessman at Tae-soo’s level.
In fact, Tae-soo had been lucky to have any opportunity to deal with Park Jeonghwan at all.
“Unlike Han Cheong-ho, I don’t have a close bond with Park Jeonghwan, so he turns his back on me this easily.”
Tae-soo never intended to form a close relationship with Park Jeonghwan.
They used each other.
Such a shallow relationship made the current situation inevitable.
“No matter how powerful Park Jeonghwan is, he can’t stop the U.S. investment company from investing in Taeyang.”
“Come to think of it, you used investment money disguised as funds to acquire companies this time, right? That’s probably money laundered from oil sales.”
“That’s right. We acquired several companies this time, appearing as though the investment money came from American investors.”
They acquired seven companies in total.
That level of trickery was possible.
It would cause an uproar if Park Jeonghwan’s secret vault were involved.
“Since a regular investor made an additional investment, money laundering is easier.”
“To launder money properly, you must be handing something over to the investment company, right?”
“I do.”
Although the U.S. investment company was set up by Han-soo on Tae-soo’s behalf, on the surface, it had no direct connection to Tae-soo.
So Tae-soo was handing over something as payment for the investment money received by the investment company.
“What is it?”
“Stocks.”
Tae-soo was putting stocks into the U.S. investment company.
This way, the money and the payment matched.
But the companies no longer had any reason to be shaken by the stocks.
“Clever move.”
“Yes. If needed, the stocks can be exercised by a proxy, money laundering is cleanly done, and it’s easier to manipulate Taeyang Group’s financial status to create slush funds.”
Dividends corresponding to the stocks were also paid to the U.S. investment company.
“As the company grew bigger, I had no choice but to play some tricks.”
“Well done.”
Ahn Jungwoo smiled.
“Jangsu Bank will also spit out investment money to the U.S. investment company. With that money, you’ll have some breathing room. You might even acquire a few more companies.”
That meant an enormous amount of money was going to be invested.
It wasn’t a time when anyone would outright refuse to lend money to Tae-soo.
It was a staggering sum even to offer under the name of an alliance.
So Tae-soo was sincerely grateful to him.
“Thank you very much.”
Tae-soo bowed respectfully.
“But that money probably won’t be used for acquiring companies.”
“For what then?”
“To repay debts that came in through the companies we acquired.”
“Oh my, you’re just going to fatten another bank’s coffers.”
“We have to avoid a chain bankruptcy, don’t we?”
Ahn Jungwoo laughed.
“I’d like to receive stocks as payment for helping you avoid that chain bankruptcy.”
That was something Tae-soo had naturally prepared for.
“What stocks would you like? Should I get you shares in foreign banks?”
“No, I want the insurance and securities companies you acquired this time.”
As expected, his interest turned toward finance.
Since he was involved with banks and private loans, that was only natural.
“I trust you, but I don’t trust the people who claim to have acquired foreign banks.”
It was a simple reason, but the most important one.
“Then I’ll arrange that.”
“How much will you give?”
“How much are you willing to invest?”
“1 billion.”
In 2020 terms, that’s close to 30 billion won being invested.
‘With this money, not only can I repay the debts all at once, but I could also acquire at least one more solid company with the leftover funds.’
Tae-soo nodded.
“Then I’ll give you 20% each in insurance and securities.”
“30%. Anything less is a no.”
Currently, he had no bank debt at all.
Even if Tae-soo gave Ahn Jungwoo 30% each, his own shares would still total around 60%.
So, it wasn’t a serious threat to management control.
“Alright, let’s do it that way. Who should be the owner? Should we use a nominee?”
“We’ll acquire the shares through the U.S. investment company. The owner will be Ahn Sojung.”
A woman’s name was mentioned.
Ahn Jungwoo smiled slyly.
“She’s my daughter.”
The name Sojung sounded familiar.
* * *
August 13, 1974, 9:45 AM.
It was the day of the Taeyang Group inauguration ceremony.
All the Taeyang Group family gathered in the courtyard in front of the building, which was now Taeyang Heavy Equipment.
Tae-soo and Han-soo were dressed in suits, and their parents wore elegant hanbok.
The father looked around and asked,
“Why haven’t the guests arrived yet even though the ceremony time is here?”
“External guests aren’t important. After all, this event only really matters to the Taeyang family.”
Tae-soo said casually.
And truly, he was unfazed.
Vroom. Screech.
Familiar faces got out of the car.
It was Chairman Jang Junyong of Geumsan and Secretary Kim.
“Welcome, thank you so much for coming.”
Jang Junyong quickly said.
“No, how long have you been in business and you’re already aiming to be a chaebol? Back in my day, it took me forever crawling and struggling to get here. You are…”
Secretary Kim quickly grabbed the chairman’s arm to stop him.
“Chairman, you came to congratulate, not to be jealous. Please behave.”
“Ahem, I’m just proud. It’s a big deal. Becoming a chaebol in just two years.”
“You could have just said ‘You’re more capable than me.’ No need to go on.”
“No, Secretary Kim, that’s not it!”
“Honestly, that’s the truth. To be frank, everyone knows it took Chairman Jang over 20 years to become a chaebol.”
Jang Junyong and Secretary Kim bickered playfully as they approached.
Secretary Kim handed a large bouquet to Tae-soo’s mother.
“You have a remarkable son. Geumsan wishes for Taeyang Group’s prosperity.”
“Geumsan?”
“I’m the secretary to the Chairman of Geumsan.”
“Oh my, goodness!”
Tae-soo’s mother was so surprised she didn’t know what to do.
To think the chaebol head she had only heard about in stories had come personally to congratulate Tae-soo—
And with a bouquet in hand!
She was overwhelmed and speechless.
Instead, Tae-soo’s father stepped forward quickly to greet them.
“To have the Chairman of Geumsan here to honor us is truly a great privilege. Thank you so much. This is an honor for our family. Ha ha ha.”
“We’re planning to do some big business soon with your son—in Saudi Arabia, to be exact.”
“Oh really? Then please take good care of our son.”
“Don’t worry. Isn’t he already doing well as President Kang—sorry, Chairman Kang?”
With the launch of Taeyang Group, Tae-soo’s title was elevated from President to Chairman.
Another car entered the parking lot.
This time it was Ahn Jungwoo and Jang Maldong.
“Congratulations on the launch of Taeyang Group.”
“I wish you even greater prosperity going forward.”
Jang Maldong handed Tae-soo a potted plant.
“Thank you all for coming. I didn’t even get to visit when Jangsu Bank was established.”
“That’s fine. I didn’t even send you an invitation, so how on earth did you find your way here from Gangwon-do to Myeong-dong?”
“I’ll be the first to congratulate you when you become the head of the Korean Bankers Association.”
“No worries!”
Though he said that, a smile tugged at Jang Maldong’s lips.
“I brought this in my travel trunk—ten billion won, as promised.”
“Thank you.”
Han-soo approached Jang Maldong and Ahn Jungwoo and greeted them.
Looking at the clock, it was already 9:50 AM.
“Hyung, the ceremony time is almost here.”
“Right, let’s get started.”
“But hyung, why isn’t anyone else coming? Is there a problem with the invitation?”
Jang Junyong of Geumsan said,
“There’s nothing wrong with the invitation. It’s just that Han Cheong-ho pulled some tricks.”
As expected, Tae-soo thought, it’s just like Han Cheong-ho to act this way.
Tae-soo chuckled quietly.
‘I knew this would happen, so I secretly called in reinforcements from afar.’
He had already requested backup in advance.
Knowing Han Cheong-ho would be grinding his teeth, Tae-soo was counting on him to cause a proper ruckus this time.
