Chapter 59

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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Negotiations calling for triple the price and even holding shares.

Naturally, I also thought the other party would refuse.

If they refused, I planned to adjust well within that and match contract conditions, but China approved our contract proposal shortly after receiving it.

As a result, the money we put in tripled, and we left a certain portion and sold all the rest.

“I heard about it. Gwangwoon made a big haul again this time? Though Gwangwoon Group hasn’t been around long, it’s already attracting attention not only domestically but overseas?”

People in this field probably all know.

That exactly our Gwangwoon received the most benefits through this Hallyu ban and Belt and Road Initiative project.

“How amazing must your China connection be to make money alone when everyone else is falling? Huh? Introduce me too.”

“There’s no such thing.”

“You can’t casually introduce that level of connection? Just how high up is this person?”

Whether President Kim Du-yeong.

Or Chairman Kang Seong-ho whom I met today.

They firmly believed I’m secretly contacting a China hotline.

“Don’t even say that. He won’t tell me who it is either.”

“What? Not even Chairman Hwang who’s on brother terms with you? Hey. Don’t tell me that hotline is the Chinese president?”

“I’m telling you there’s really no such thing?”

“Hmm. I’m really curious. Who is it that you’re hiding so much?”

Eventually I also gave up explaining.

“Well, I don’t know what connections you have. But what business people need most is ultimately connections. Especially there’s nothing better than building connections while maintaining good relations with the government.”

Political-business collusion.

In any country, as companies grow in scale, they inevitably become entangled with politics.

Because companies need government permission to start large-scale projects, and government influence is also needed to receive subsidies or investments.

“Today’s people we’re meeting are exactly that type.”

In that sense, our Gwangwoon has also reached that level of scale now.

However, the government personnel we’re meeting today aren’t Korean but Malaysian.

“Welcome. Nice to meet you. I’m Jho Low.”

Jho Low.

A few years ago, Malaysia’s Prime Minister Najib Razak created the country’s largest sovereign wealth fund being used for developing international competitiveness.

“Korea is a close country to us if we say close. Also, the Republic of Korea is a role model for all developing countries. Despite experiencing such a terrible war, you achieved miracles in a short time and developed into a tremendous advanced country. Even in a country where not a drop of oil comes out.”

Our Republic of Korea is a miracle country that made the impossible possible.

Though we now dig up grass roots, it’s because past elders who spared no effort saying they couldn’t make descendants that way and raised the nation that today’s Republic of Korea exists.

“So our Prime Minister created a sovereign wealth fund called 1MDB to become the second Republic of Korea, and many companies are already investing seeing the stable high return rate. Notably Gold Reagan and JP Madison. Besides those, we’re receiving investments from various companies to increase the fund’s scale.”

A sovereign wealth fund means a nation-level investment fund.

It’s used for the nation’s financial stability and long-term economic development, and our country’s Korea Investment Corporation can be seen as belonging here.

Also, the National Pension Service, though not quite a sovereign wealth fund, has similar characteristics.

The 1MDB this person Jho Low is talking about is also a type of sovereign wealth fund.

“When we first started 1MDB, the scale was only $1 billion. But we quickly increased that size and now approach $30 billion. Our ultimate target amount is $150 billion. I understand Korea Investment Corporation manages about $150-180 billion.”

Our country’s sovereign wealth fund scale was between $150 billion and $180 billion.

1MDB was also issuing bonds and spreading them everywhere to grow to that scale.

“Actually Japan and Korea have almost finished growing, so honestly they’re not very attractive places to invest. But our Malaysia still has mountains of things to develop left. That’s why overseas investors are watching Malaysia closely.”

The 1MDB sovereign wealth fund had high attention in overseas markets recently enough that even I heard of it.

Since Malaysia has many places to develop, they’re planning to achieve explosive growth using these funds to produce investment results.

“So we’re proposing investment to Kangsung, Korea’s largest group, and Gwangwoon Group who revived our port business in connection with China this time. Let me say one thing in advance: 1MDB doesn’t propose investment to just anyone. We propose after going through rigorous selection criteria.”

We’re the ones investing, yet they can say they have rigorous selection and whatnot.

This isn’t an ordinary fund.

It’s a fund operated by a country no less.

Therefore, if one wants to do business in Malaysia, there was no better opportunity than this.

Because through this fund, a solid connection with the Malaysian government is created.

If the government actively supports, how convenient would business be?

Moreover, the Malaysian sovereign wealth fund had high profit potential.

Because as Jho Low said, Malaysia is in the middle of vigorous growth.

“…”

Jho Low.

This person’s impression was really good.

He was really passionately giving a presentation, explaining point by point how high a profit model 1MDB has now.

But why is this?

Every time he opened his mouth, red smoke-like things that burst out from within wrapped around him, and he started resembling the form of the serpent that tempted Eve to eat the forbidden fruit.

With that eerie appearance, I couldn’t even properly hear what Jho Low was saying.

“I hope you make a good decision. Malaysia will become a greatly growing country like Korea going forward. Also, through close cooperation with the Malaysian government, we’ll help you gain various benefits.”

With that as the end of his talk, Jho Low stood up from his seat first.

He especially strongly emphasized that cooperation with the Malaysian government is possible if partnering with 1MDB before leaving.

“This is almost half-threatening.”

“Though he has a smiling face, it sounded that way to me too. That if we don’t invest in 1MDB, there’ll be no government help either. I heard Kangsung Group is trying to expand business more in Southeast Asia.”

“Yes. Malaysia is core among them too. The places we’re trying to enter now are Europe and Southeast Asia, you know? They probably knew that and approached from the sovereign wealth fund.”

Kangsung Group announced its ambition to start active investment in Southeast Asia and push out Apple, which is currently eating the world’s mobile phone market.

“Though Apple phones are too dominant so honestly it’s difficult work, if we keep doing it step by step like this, won’t we someday grab those bastards by the collar? And we don’t only sell phones. In hot countries like Malaysia, air conditioners are essential.”

That’s why Chairman Kang Seong-ho seemed to want to join hands with 1MDB.

Because if the Malaysian government helps Kangsung Group, they can sell electronic products more smoothly.

“Our Kangsung will enter. What’s Gwangwoon thinking?”

“We’re probably…”

Hyung-nim glanced toward me.

Chairman Kang Seong-ho was also looking at me.

“…I think it’s better if we don’t enter.”

“Ah. Right. President Jeong likes short-term investments, right? If you put money into a sovereign wealth fund, you probably have to view it long-term. Plus you already transferred most operating rights to China.”

That’s also true.

But more than anything, Jho Low’s serpent-like form still lingers before my eyes.

Sometimes there are conspiracy theories that current world’s richest people are some kind of aliens, and it felt like seeing that reality version.

“I don’t mean it in that sense.”

“What? Are you saying that bastard Jho Low is a scammer? You don’t need to worry about that. I investigated that bastard thoroughly just in case. He actually runs 1MDB. Plus this is a sovereign wealth fund. It’s operated by a country no less, so how could they scam with it?”

Sovereign wealth funds are operated transparently by countries, so they’re much safer than other managers’ funds.

Even though I know that, that eerie appearance won’t disappear from memory.

“How about focusing on Europe rather than Southeast Asia?”

“I want to too. But Europe’s checks are too severe. Especially Deutsche Bank in Germany, you know?”

Germany’s largest bank.

Our country’s banks find it difficult even to establish other securities firms to invest or proceed with M&A, but overseas banks are different.

Especially Deutsche Bank plays a central role in Germany’s financial system, so it handles a lot of money and has influence across all of Europe.

“Deutsche bastards are checking us too much. So we can’t properly expand business in Europe.”

But whenever the name Deutsche caught my ear, it felt like my head was shaking.

“Does Deutsche have reason to do that?”

“There is. We’re pushing forward with semiconductors and displays. But Deutsche holds shares in Infinite, a European semiconductor company, and Aslan, a display company. So they don’t like our entry. Plus these bastards also hold Apple stock. All the more they can’t stand seeing us do well.”

Apple’s smartphones are world number one.

So overwhelming that the only one that can be called a rival is Kangsung Group.

However, since Kangsung Group can be called world number one in semiconductors, they’re trying to expand that field more.

“We’re mainly relying on China for production. But seeing this Hallyu ban situation, that place won’t work anymore. So we’re trying to expand production facilities to other places. Especially if we place semiconductor facilities in Germany, using that as a base will be great help in targeting all of Europe.”

However, since Deutsche, Germany’s largest bank and a big hand in the European securities market, is checking them, Kangsung Group first turned its attention to Southeast Asia.

“Anyway, President Jeong, you want even Kangsung not to enter this sovereign wealth fund?”

“Yes. Because it feels ominous.”

“This is.. If someone else said that, I would’ve laughed at them, but it’s President Jeong saying it so I’m troubled. I understand for now. I’ll know that Gwangwoon won’t enter.”

Chairman Kang Seong-ho stood up first saying he needs to return to the company quickly.

“Don’t you think he’s a bit upset?”

“Really?”

“Kangsung and Gwangwoon. If the two companies entered together, the picture would be good and the cost burden would be lower. But you cut it off saying it can’t be done.”

“Did I speak that coldly?”

“Keke. He’s the great Kangsung Group chairman. Since you’re refusing clearly to his face, he’s not used to it.”

However, no matter how I look at it, I don’t like that person Jho Low because he’s eerie.

Plus the Malaysian sovereign wealth fund has long since flown from my mind.

‘Why did I get a feeling from Deutsche Bank?’

What connection does it have with the Malaysian sovereign wealth fund that such an intense intuition sparked the moment I heard the name Deutsche Bank?

The strange thing is Deutsche Bank isn’t investing in 1MDB.

Yet the feeling comes this strongly.

Could there be something that others shouldn’t know about?

***

“Are you sure? There’s really no problem?”

“Yes. I checked several times. The person called Jho Low is clean. And 1MDB also has no particular problems. However, they are recently gathering investment funds for large-scale infrastructure expansion.”

Chairman Kang Seong-ho was about to put investment money into 1MDB without asking or questioning.

Actually there was nothing wrong with Jho Low’s words.

Because Malaysia is currently achieving explosive growth, and the judgment stood that they can sufficiently make money through the sovereign wealth fund.

Actually there are quite a few companies wanting to invest in 1MDB.

Plus for Kangsung Group to push out Apple and dominate in Southeast Asia, help from those countries’ governments was essential.

So he was about to put it in.

But exactly one thing caught.

‘That Jeong Jin-ho said that…’

A warning from none other than Jeong Jin-ho.

For Kang Seong-ho, one warning from Jeong Jin-ho was scarier than research materials selected by the super elites here at Kangsung.

Someone might say it’s making a fuss.

But that’s because they haven’t experienced it directly beside Jeong Jin-ho.

He has exceptional insight.

He has analytical ability close to divine.

“Chairman. Isn’t 1MDB a famous sovereign wealth fund in Southeast Asia? Especially I know a lot of American capital went in, and it seems like not a bad choice for the group’s development in the Malaysian market going forward.”

“Yes. This isn’t an option but essential. If we dominate Malaysia, using that as a base, aggressive entry into all of Southeast Asia will be possible.”

Chairman Kang Seong-ho also knows.

That even if all the money put into this sovereign wealth fund disappears, it’s sufficiently worth doing.

But did Jeong Jin-ho not know that?

Jeong Jin-ho also knows well how important this investment is for Kangsung Group.

Nevertheless, Jeong Jin-ho said no.

Therefore now Chairman Kang Seong-ho had to make a choice.

Jeong Jin-ho, or this elite group completed by filtering through countless sieves again and again.

“…”

The deliberation wasn’t that long.

“Let’s make this not happen.”

“What?!”

“Ch-Chairman!”

“If we refuse this, we don’t know what retaliation the Malaysian government will do! Expanding the Malaysian market may become impossible.”

I know.

I know everything with my head.

But human intuition is truly scary.

They say intuition is human’s sixth sense from experience.

Now that experience is telling me.

That Jeong Jin-ho’s words have more value than what these hundreds of elites are saying.

“European side market expansion is actually difficult because of Deutsche. So we targeted Southeast Asia, but if you refuse this…”

“I know too. But let’s push through. Even if Malaysia checks, could it be worse than those Deutsche bastards? So let’s push in for now.”

Chairman Kang’s heart was also shaken by the executives’ words.

Because even in his thinking, entering the sovereign wealth fund was the optimal method for future business.

However, he already made up his mind.

‘Let’s trust once more.’

There was nothing he lost by believing Jeong Jin-ho until now.

And I don’t know what he’s thinking, but if his words hit the mark again this time…

‘After that I’ll never doubt.’

Then he was thinking he’d believe whatever Jeong Jin-ho says.

Even if he says the sun will rise from the west tomorrow.