"That should be enough, right?" I said after ending the call with Lee An-jin.
Maru looked at me incredulously.
"$20 billion? $100 billion? Aren't you exaggerating too much?"
I scratched the back of my head.
"I got carried away playing the mysterious investor's representative… It's okay, it's okay. It's normal to exaggerate a little during negotiations. We have to appear stronger than we are. And if things go wrong, we can always say the investment performance wasn't good enough for the second phase."
"You're so reckless."
I ignored Maru's nagging and said to Park Jong-bum,
"Call China and make sure they handled the call properly."
"Yes, sir."
I had Li Yang in China relay the call to Baek In-hwi to avoid any possibility of being traced.
I would call Li Yang, who would then put both his phone and Baek In-hwi's phone on speakerphone, with the microphones facing each other.
Then Baek In-hwi would call Lee An-jin, and the call would appear to originate from China, creating a perfect alibi.
The double relay caused a delay and distorted the audio, so I was a bit slow in responding to Lee An-jin's questions. But it actually made Baek In-hwi seem more mysterious and powerful.
"Now we just have to wait for their reaction. The Korean government has no choice but to accept. And I hinted at the money being dirty, so if they proceed, they're basically accomplices."
I chuckled.
"Let's wait and see."
But the $100 billion bluff, intended to make me seem powerful, started to take on a life of its own.
***
"He said $10 billion is just the first phase, and he's considering up to $100 billion?"
Lee An-jin hurriedly contacted the chairman of his party after speaking with Baek In-hwi. The chairman was shocked by the enormous investment amount.
"Yes, but…"
Lee An-jin whispered,
"I think it's dirty money."
"Dirty money?"
"Yes, he said one of his conditions is no investigation into the source of the funds."
The chairman stroked his chin.
"No investigation, huh."
The best way to launder money was to send it overseas.
Korea wasn't an ideal place for money laundering.
Tax havens, countries that welcomed foreign investment without asking any questions, were usually developing countries.
And Korea had strict regulations on foreign capital, essentially a closed financial market.
But with the IMF crisis and the forced opening of the financial market by the US and other Western countries, Korea had become incredibly vulnerable.
They had little experience with foreign capital and lax regulations, making it a perfect target for money laundering.
Although the investment was risky due to Korea's uncertain future, it was an ideal opportunity for money laundering.
"Are you sure it's Chinese capital?"
"I'm not sure."
"Chinese capital with $10 billion to $100 billion in dirty money…"
The first thing that came to the chairman's mind was triads and corrupt officials.
It was common knowledge that massive amounts of dirty money were flowing through China due to the country's rapid economic growth.
And at the top of the food chain were the triads, involved in construction and other lucrative businesses, and the corrupt officials who received bribes from them.
"$100 billion is almost half of the IMF loan. The terms are better than the IMF's, but it's dirty money…"
The chairman frowned and said after a moment of thought,
"I need to report this to the President."
***
"Hmm, their reaction is slower than I expected."
It had been two days since I cast my bait through Lee An-jin, and there was still no response. I started to worry.
"Was $100 billion too much? Do they think I'm bluffing and ignoring me?"
Maru looked at me with a disapproving expression.
"You should just focus on your business. What's with this investment nonsense?"
I retorted,
"Should I just let that money sit idle? Money is meant to be used, whether it's for buying boards, buildings, or investments! Don't you feel sorry for the money just sitting there in the bank account?"
"Yes, yes, I'm sure you know what you're doing."
I said, taken aback by his sarcasm,
"What's your problem? Are you still worried? Don't worry, I said. It's just surplus funds from our business. Our other businesses are generating insane profits. Even if something goes wrong, we can just cut our losses and start over."
The secondhand IC chip business was booming, generating over 140 billion won in profit every month.
It was less than the 200-300 billion won we were making before releasing the technology, but the department store was now fully operational, generating about 70 billion won in net profit, and the factory was also generating over 70 billion won.
The department store's distribution profits were increasing rapidly and would soon surpass the factory's, so our future was bright.
Maru said with a slightly troubled expression,
"It's not that. It's just that everyone in Korea, from business owners to workers, is struggling, and we're making a fortune from this crisis. It doesn't feel right."
"It's not our fault. Someone has to profit from this crisis. We're just trying to be that someone."
Maru sighed.
"Who doesn't know that? I'm just saying. I also like making money, and I'm not trying to stop you. Ruthlessness is essential in business. I'm just feeling a bit sentimental, so don't worry about it. And…"
He smiled slightly.
"We've done a lot of shady things, it's too late to develop a conscience now. I'm not that soft."
Maru had been through a lot, so he was generally ruthless, but he occasionally showed his sentimental side.
"Are you bothered by it?"
Maru waved his hands.
"Not really. Just feeling a bit sorry for them, I guess. I saw a news report about the increasing number of suicides due to the economic crisis, so I'm feeling a bit down. Don't worry about it."
I looked at his troubled expression and smiled.
"Don't worry too much. I have a plan."
"What?"
"You know my motto: give back 10% of what you receive. If we're profiting from Korea's crisis, we should give something back. We can use some of the money we earned to do good deeds through Chunha Trading."
Maru was surprised.
"Good deeds? What kind of good deeds?"
I thought for a moment.
"We can hire people who are struggling. There's no better deed in times like these, right?"
Maru looked at me incredulously.
"How is that a good deed? We're hiring them because we need them. And isn't that what the foundation is for?"
"No, no. If we had the choice, we would hire young and healthy people. Who would hire older or disabled people? I'm saying we'll increase the hiring quota. The foundation is for recruiting people in truly desperate situations for the Park Sol squad. But I'm saying we'll also increase the proportion of underprivileged people in our regular hiring process. And it aligns perfectly with my statement in the interview about being an umbrella for the less fortunate. It's a perfect image for Chunha Trading, the righteous corporation!"
Maru chuckled.
"Well, it's better than nothing, considering your personality. You're amazing."
Just then, my phone rang.
"Hello, this is Park Sol from Chunha Trading."
Li Yang's voice, speaking in Chinese, came from the other end of the line.
[Sir, we have a call for Baek In-hwi.]
My eyes gleamed.
"Put both phones on speaker and connect them like last time."
After a moment of rustling, a new voice came from the phone.
[Hello, is this CEO Baek In-hwi?]
The audio quality was poor due to the double relay, but it wasn't Lee An-jin.
I lowered my voice and said,
"Yes, this is Baek In-hwi."
[Greetings, this is Yoo An-ho, Minister of Finance and Economy.]
I gulped at the word "Minister."
I had expected Lee An-jin to act as an intermediary.
National Assembly members were part of the legislative branch, but foreign exchange transactions were handled by the executive branch, specifically the Ministry of Finance and Economy. I had expected a call from someone at the ministry, but I never imagined it would be the Minister himself.
I said, trying to sound calm,
"Greetings, this is Baek In-hwi."
[First of all, thank you for considering investing in Korea. Just to confirm, you're planning to invest $10 billion initially, with a potential total investment of up to $100 billion, correct?]
"Yes, that's correct."
[We've discussed it and agreed to all your demands.]
I gestured urgently to Maru, who found the recorder and handed it to me.
"That's good to hear."
[But we also have some demands. You'll be using a designated foreign exchange account, and the funds cannot be withdrawn for at least five years.]
I frowned.
"You're asking me to lock up the investment funds for five years? What if I lose money because of a bad timing?"
[It would be a major problem if billions of dollars suddenly entered and then left the Korean foreign exchange market. We need that guarantee to mitigate the risk.]
"Hmm."
The Minister said in a conciliatory tone, seeing my silence,
[In return, we'll waive the foreign exchange account fees.]
It was a meaningless offer. Banks would be begging me to deposit my money and waive the fees, even offer incentives, if I brought in billions of dollars in foreign currency.
"That's a given."
[And we can't make a deal with the President-elect without that guarantee.]
I asked, puzzled by the sudden mention of the President-elect,
"President-elect?"
[The current President's term is almost over. If the President-elect raises an issue with your funds, it could create a major problem.]
"…"
I was momentarily flustered, and the Minister said discreetly,
[If you accept these conditions, your investment will proceed smoothly and quietly.]
I finally understood what he was saying.
If it were a legitimate investment, they would publicize it and tout it as the current President's achievement. But if it was dirty money, it could become a political weapon against the incoming President-elect.
But they couldn't refuse a potential investment of $10 billion to $100 billion when they were desperate for foreign currency, so they needed to coordinate with the President-elect.
"Hmm, I understand. But five years is too long."
[We can discuss that further and find a solution.]
I said in my usual monotonous voice,
"I think we're on the same page. Let's finalize the details later."
[Very well. Thank you again for your investment in Korea.]
Just as I was about to end the call, the Minister said softly,
[There's one more thing I'd like to ask…]
"I'll answer if I can."
[Can you tell me which faction the funds belong to?]
My face hardened.
"What do you mean? Is that important?"
[I'm not planning to trace the funds or anything. But our approach might differ depending on the source.]
I hesitated, not understanding his question, and he continued,
[If you're uncomfortable answering, I won't press further. But please relay this message: Korea is open for business.]
The call ended, and I said with a troubled expression,
"It went smoother than I expected, but…"
Maru, seeing my expression, asked,
"What's wrong?"
I looked at my phone, puzzled.
"How should I put this… they're more cautious than I expected. It seems like they're misunderstanding something."