After the Divorce, I Found a Thousand Bitcoins - Chapter 43

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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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I Got Divorced and Found a Thousand Bitcoins Episode 043

 

Cha Vice President bit his lips as he returned to his accommodation.

 

“What on earth is he thinking?”

 

Kang Hyeon’s behavior from today’s meeting came to mind.

 

“What’s he trying to achieve by provoking them like that? The opponent is connected to political circles! No matter how much money he has, what happens if he just charges in recklessly?”

 

Cha Tae-hun had been in construction sites for a long time.

 

There was no place where corruption and lobbying happened as routinely as here.

 

Giving bribes and expensive gifts to public officials to win contracts was daily routine.

 

That’s why he knew very well how powerful authority could be.

 

“Even South Korea is like that. Let alone making enemies with politically connected figures in a developing country like India…! It’s insane!”

 

He thought this incident would sink the construction project.

 

But Kang Hyeon’s thoughts were different.

 

After returning to his accommodation, he finished showering and sat in the suite room’s living room, connecting his computer.

 

Then he had a meeting with Kwangho in South Korea through video chat.

 

-Huh? The deal fell through?

 

“Yeah, the other side was too much of a thug. 70 percent stake, and they want not only field command authority but also personnel rights. Meanwhile, we have to provide 80 percent of the funding.”

 

-That’s crazy. Shouldn’t we introduce them to a mental hospital?

 

Since it was a conversation between friends, both spoke more casually than usual.

 

“I don’t have that kind of relationship with them. More importantly, how did that thing I asked you about go?”

 

-Ah, Barma Infrastructure? They’re continuing to grow every year. The problem is that sales are increasing, but DSO is worsening.

 

DSO meant Days Sales Outstanding for accounts receivable.

 

This meant one thing.

 

“Are you saying they recorded false sales?”

 

-Either that, or they’re deliberately delaying construction to siphon off money. Plus, their operating profit keeps increasing, but their cash is decreasing.

 

Hearing this, Kang Hyeon immediately hit the core issue.

 

“Embezzlement.”

 

-Right. If we look deeper inside, it’s probably rotten to the core.

 

“If this were South Korea or the United States, they would have been thoroughly investigated already.”

 

-It’s only still standing because it’s India. There are many such cases in developing countries.

 

The poorer the country, the stronger the power and the more corruption there was.

 

India was no exception.

 

-What are you planning to do there?

 

At Kwangho’s question, Kang Hyeon curled up the corner of his mouth with a cold expression.

 

“I’ll have to tear them apart.”

 

The answer was already decided.

 

“Let’s establish an SPV in Singapore.”

 

-To buy stocks?

 

SPV.

 

A Special Purpose Vehicle.

 

Though it could be used as a paper company, Kang Hyeon had no such intention.

 

“Yeah, if KH Capital or Recovery steps forward, they’ll notice immediately. Let’s establish an SPV and buy shares while completely hidden.”

 

When conducting hostile M&A, it was important to hide one’s identity and acquire the opponent’s shares.

 

That’s why creating a new corporation in SPV form was like the basics of M&A.

 

-To access internal data, we’ll need to secure at least 7 percent. It would be good to set aside a certain stake through block deals first, then secure the rest in the open market.

 

“Kwangho, you handle and process this. It doesn’t matter how much funding it takes.”

 

-Okay. Then I’ll proceed right away. By the way, you’re not really thinking of acquiring this place, are you?

 

“No. I’ll focus on checking internal information for now.”

 

-…That ‘for now’ is a bit concerning, but I understand for now too. I’ll establish the SPV first and contact you.

 

“Okay.”

 

After ending the chat, Kang Hyeon looked out the window.

 

Though it wasn’t visible during the day due to smog, India’s night view wasn’t bad either.

 

“They’re blocking my path, so there’s no reason to sit still and take it.”

 

His eyes shone intensely as he gazed at India’s night view.

 

* * *

 

Barma Chairman also began to move.

 

“That damn Oriental brat! How dare he humiliate me?!”

 

Kang Hyeon’s behavior was clearly disrespecting him.

 

For him, who lived like a king in India, it was humiliating.

 

“Lao!”

 

“Yes, Chairman.”

 

“Did you look into that guy?”

 

“I’ve prepared everything.”

 

He checked the tablet PC that Lao handed over.

 

It contained detailed information about Choi Kang-hyeon.

 

What kind of company KH Capital was, how Recovery was established, and how KH Construction was created.

 

After checking everything, a bitter smile appeared on Barma Chairman’s lips.

 

“What? This is a mess?”

 

“Yes. The man named Choi Kang-hyeon is just a white-collar worker who has never worked in construction. He seems to have capital, but that’s about it. If we attack the point that he has no field experience, we should be able to pressure him.”

 

“Is his capital really that good?”

 

“It’s not exact, but it appears he can mobilize over 1.5 billion dollars in cash immediately.”

 

“Tsk, that one thing is tremendous.”

 

Being able to mobilize that much cash immediately was not easy even for Barma Chairman.

 

“Then what we need to target isn’t capital but ability.”

 

“Yes, especially if we attack the practical side, he should easily kneel.”

 

“Hehe, that’s easy. Talk to the Minister and let’s have a look.”

 

“Understood.”

 

Barma Chairman was already smiling.

 

Having found a way to attack the opponent, he was now like a cornered mouse.

 

“How dare you show me that attitude in India? Not a chance! I’ll clearly show you that this isn’t South Korea but India!”

 

* * *

 

KH Construction and Barma Group continued their standoff without yielding an inch.

 

After the first meeting, there was no particular exchange or progress.

 

As the situation became like this, Cha Tae-hun Vice President, who was supposed to handle practical matters, grew increasingly frustrated.

 

‘Is it okay to ignore the Indian Government’s demands and stay like this?’

 

What the Indian Government demanded was establishing a joint venture with a reliable local corporation.

 

But Kang Hyeon rejected this.

 

He wanted to bid independently and declared he would deposit the appropriate funds immediately.

 

He had been quite surprised at that time.

 

‘I heard he acquired JS Construction, rebranded it, and even bid for the Yeongjong Island theme park… but to think he can still mobilize this much cash immediately after all that. Just how much money does he have?’

 

It was wealth that even Cha Tae-hun, who held a vice president position, found difficult to gauge.

 

What was more surprising was that Kang Hyeon was in his thirties.

 

A person who could meet with India’s Prime Minister despite not being part of a chaebol family.

 

And he even possessed cash in the trillions.

 

Kang Hyeon became even more mysterious.

 

“Phew, is it okay if this project falls through? No, we didn’t even win the bid in the first place. Why did he make us move in South Korea already?”

 

It was full of incomprehensible matters.

 

The order didn’t make sense by common standards.

 

You should win the bid first, then gather personnel.

 

But he was gathering personnel first and competing for bids.

 

And all while ignoring the Indian Government’s demands.

 

He was wondering if it was okay to proceed with work like this.

 

Zing!

 

His smartphone rang.

 

Checking the number, it was Director Choi Kang-hyeon.

 

“Yes, Director. Understood, I’ll prepare and head down shortly.”

 

News came that a second meeting with the Indian Government had been scheduled.

 

* * *

 

Housing and Urban Development Department Meeting Room.

 

Barma Chairman and his secretary Lao, with Menon seated in the center.

 

Across from them, Kang Hyeon, Choi Byeon, and Cha Tae-hun Vice President took their seats, and Menon immediately began the meeting.

 

“Today we will negotiate the conditions of both sides and establish the JV for…”

 

“Ah, before that.”

 

Barma Chairman interrupted Menon’s words.

 

‘This bastard…?’

 

Menon felt irritated inside.

 

But he couldn’t show it outwardly.

 

Because he knew there was a Minister behind Barma Chairman.

 

“Is there some problem? Chairman.”

 

“Before we enter the meeting, there’s something I need to confirm.”

 

As soon as Barma Chairman finished speaking, his secretary Lao stood up and connected a tablet PC to the main monitor.

 

Then a PPT document was displayed.

 

The document was about KH Recovery and KH Construction.

 

“Our Barma Group has doubts about KH Construction’s practical capabilities and KH Recovery’s funding sources.”

 

“You have doubts?”

 

Menon asked with a face that said ‘what are you talking about.’

 

“JS Construction, the predecessor of KH Construction, was a construction company that mainly built vertical buildings like apartments.”

 

“I already explained that part. During the JS Construction era, they were involved in South Korea’s local road construction as well as highway construction…”

 

“Sorry to interrupt, but the last time JS Construction was involved in large-scale highway construction was the Central Highway construction in 1985.”

 

Cha Tae-hun Vice President hurriedly interjected, but was blocked by Lao’s rebuttal.

 

Seeing that reaction, Menon spoke to Barma Chairman.

 

“Please continue.”

 

“I’d appreciate it if you’d listen to my entire story before making counterarguments. Anyway, this track record inevitably raises questions about the practical capabilities KH Construction claimed.”

 

Turning the page, projects that KH Construction had undertaken appeared.

 

Most were apartment construction and residential area projects like villas.

 

Then the Yeongjong Island villa complex appeared.

 

“Most importantly, isn’t the predecessor JS Construction involved in rental fraud, with the former representative currently on trial? How can we give a sole bid to such a company?”

 

They seemed to have prepared quite extensively.

 

But their attack wasn’t over yet.

 

“Moreover, KH Recovery’s capital comes from KH Capital, which is essentially a holding company. The disclosed AUM is only about 300 billion won. So how can they provide 1 trillion won…!”

 

Tap!

 

Then Kang Hyeon lightly tapped the table.

 

It was a slight noise, but timed perfectly to interrupt Barma Chairman’s words.

 

As a brief silence fell and attention focused on him, Kang Hyeon spoke.

 

“Sorry, but the opponent’s claims are so unreasonable that I don’t think I can listen any further.”

 

“What did you say?”

 

“First, KH Construction’s practical capabilities have already been supplemented. Cha Vice President?”

 

“Ah, yes.”

 

Cha Tae-hun presented the materials Kang Hyeon had told him to prepare.

 

“What is this?”

 

To Menon’s question, Kang Hyeon answered without hesitation.

 

“These are the newly recruited talents who will handle highway construction. Each and every one of them is a veteran who has not only worked on South Korea’s highway construction but also won and executed overseas highway construction projects.”

 

Menon’s eyes lit up as he reviewed the documents containing the profiles of the newly recruited talents.

 

“Oh… they have experience in Vietnam, the Philippines, and Malaysia. And this person directly led highway construction in China?”

 

“That’s correct. China was typically a country with an environment similar to India. Since the land area is even larger, their joining after working on construction there will have the effect of increasing our practical capabilities.”

 

“Certainly…”

 

Kang Hyeon immediately resolved the part the opponent had pointed out as a weakness.

 

‘So this is why he told us to recruit personnel even before receiving the bid.’

 

It was the moment Cha Tae-hun’s doubts were resolved.

 

However, the counterattack wasn’t over yet.

 

“Second, Oh Jeong-seok, who was the representative of JS Construction, KH Construction’s predecessor, committed personal embezzlement and illegal acts. This should be viewed as separate from the company.”

 

“Isn’t this typical tail-cutting?!”

 

“Related documents showing that our KH Construction has no connection to Representative Oh Jeong-seok are also included on the back page.”

 

Ignoring the protesting Barma Chairman, Kang Hyeon spoke to Menon.

 

“Ah, here it is. Looking at this, it would indeed be difficult to say there’s any relationship between the former representative and the current KH Construction.”

 

With this, the second claim was also defeated.

 

Naturally, Barma Chairman’s face turned bright red.

 

“What about capital?! How are you going to deposit the 900 million dollars you claimed?!”

 

“KH Capital’s recent transactions and the resulting profit rates are attached on the last page.”

 

Menon’s hands quickly flipped through the pages.

 

“Is… is this true?”

 

“Yes. These are official documents provided by JP Morgan.”

 

When Menon looked at the documents again, JP Morgan’s emblem was clearly stamped on them.

 

And at the very end was the signature of JP Morgan Global Brokerage’s Managing Director.

 

This was essentially like JP Morgan providing a guarantee.

 

“2.1 billion dollars…”

 

“2.1 billion dollars? What do you mean…!”

 

As Barma Chairman tried to snatch the documents in surprise, Kang Hyeon said quietly.

 

“2.1 billion dollars, that’s the cash KH Capital can currently utilize.”

 

Barma Chairman’s expression hardened at the unexpected amount.

 

“Well, it seems we’ve resolved all the doubts about KH Construction that the Chairman mentioned.”

 

Up until now, it had been defense against attacks.

 

But this fight wouldn’t end with defense alone.

 

Ultimately, what ended wars was sharp attacks that pierced the opponent.

 

“Now I’d like to ask something.”

 

He looked at Barma Chairman with a coldly sunken gaze.

 

A dark light invisible to others’ eyes could be seen enveloping his entire body.

 

It looked like he was covered in filth.

 

“Chairman, can Barma Group truly handle this construction project alone?”

 

“Of… of course! Are you doubting our Barma Group?!”

 

“Yes, I am doubting you.”

 

Kang Hyeon looked at Choi Byeon.

 

He opened his briefcase and pulled out a thick stack of documents, placing them on the table.

 

“According to the data I’ve secured, Barma Group’s financial soundness isn’t just questionable…”

 

Kang Hyeon’s sharp gaze pierced into Barma Chairman.

 

‘What… what kind of look is that…’

 

To Barma Chairman, who felt breathless from the sharp gaze he’d never experienced before, Kang Hyeon delivered a crushing blow.

 

“It’s rotten to the core, isn’t it?”

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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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