Golden Spoon Investment Portfolio - Chapter 258

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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258. Are you saying Hansei Group is on the verge of bankruptcy right now?

The reception room in the Separate Building was not particularly lavish, as befitted Cheon Seong-deuk’s character, yet it was decorated with understated elegance.
A walnut reception set occupied the center, while a modest landscape painting hung on one wall, and a large white porcelain vessel rested on a shelf across from it.
Sitting alone on the sofa, I gazed absently at the landscape painting, which appeared quite ancient at first glance, when I noticed calligraphy reading “Nangok” in the lower left corner along with a seal stamp bearing the name “Wonbaek”.

“No wonder the painting seemed extraordinary—it was a landscape by Gyeomjae Jeong Seon.”

Jeong Seon, founder and master of true-view landscape painting, was a representative artist of the late Joseon period, recognized not only domestically but also across the sea in China, where high-ranking Qing officials coveted even a single piece of his work—a truly exceptional artist.
The ceramic on the shelf was likewise a white porcelain moon jar, its gentle ivory tone flowing in elegant curves, large and perfectly rounded in form.
Without a single blemish, its pristine beauty and perfect proportions made it unmistakably a cultural treasure of at least national significance.

“Displaying artworks worth at least tens of billions of won as if they were nothing—truly befitting a major player in the Myeongdong private lending market.”

I murmured this with a note of admiration.
Just then, I heard movement from outside, and the door opened as a white-haired elderly man in traditional Korean dress entered with Oh Tae-min, the butler I had met earlier.
Recognizing at a glance that the white-haired man was Cheon Seong-deuk, I rose from the sofa where I had been sitting.
Cheon Seong-deuk stepped forward and fixed me with an expressionless gaze, his eyes scanning me from head to toe.
It was the kind of look one might give an object, assessing its worth as if appraising merchandise.
While such behavior could have been offensive, I showed no reaction and simply bowed my head impassively.

“It’s an honor to meet you. I’m Park Seok-won.”

At my introduction, mentioning only my own name without reference to my father, Chairman Park Tae-hong, Cheon Seong-deuk’s eyes flickered with interest for a moment before the expression vanished.

‘He seems to have considerable backbone—whether that’s recklessness or genuine confidence, time will tell.’

With that thought, Cheon Seong-deuk extended his hand and spoke in a dry voice.

“Cheon Seong-deuk.”

Usually, when people met him for the first time, they were invariably intimidated.
Most came seeking loans, so they had no choice but to adopt a submissive posture, and whether in politics or business, his extensive and deep network of connections made people cautious not to offend him.
But I grasped his hand with confidence and proper courtesy, showing none of that deference.

“Thank you for making time for me on such short notice.”

Cheon Seong-deuk showed no displeasure at Seok-won’s demeanor, gesturing for him to sit without any change in expression.

“Let’s sit down and talk for a moment.”

He naturally took the seat of honor in the center, and Seok-won lowered himself back into his chair.
As Oh Tae-min quietly closed the door and left, Cheon Seong-deuk picked up the teapot on the table and poured sujeonggwa into a fresh cup.
As the rich aroma of cinnamon wafted through the air, he gazed intently at Seok-won before suddenly speaking.

“Looking at your face, it seems you’ve inherited quite a bit. Your eyebrows and nose—they’re exactly like Minister Jo’s.”

Cheon Seong-deuk stirred the sujeonggwa lightly with a teaspoon as he spoke.

“I’ve heard that after leaving office, you rejected several candidacy offers from the ruling party and have been living a leisurely life. I wonder if you’re doing well.”
“Thanks to your concern, I’m enjoying a healthy retirement.”
“You’re still in your prime, yet you live like an old man in the back room. What a waste of that brilliant mind that passed all three of those notoriously difficult civil service exams.”

Cheon Seong-deuk clicked his tongue lightly.
Jo Seung-jae, Seok-won’s maternal grandfather and former Minister of Interior, was a prodigy among prodigies who had passed all three of the notoriously difficult judicial, diplomatic, and administrative civil service exams.
When I graduated from Harvard University with honors, my mother Jo Deok-rye had boasted that my head certainly resembled her family, which caused Chairman Park Tae-hong to sulk for a while—the memory brought an inward smile to my face.

“Perhaps it’s better to stay far from the muddy waters of politics, where all manner of factional strife runs rampant, and simply spend your days fishing for time rather than witnessing such filthy affairs.”

Leaning back in his chair, Cheon Seong-deuk interlaced his fingers and gazed steadily at Seok-won.

“You must be terribly busy with the Midopa Department Store situation these days. What business brings you to see this old man?”

Then Seok-won opened his mouth with a measured tone.

“As you likely surmised when I contacted you, I came because I have something to discuss regarding your stake in Midopa Department Store.”
“A few days ago, Chairman Woo from Donghae Group also came by and told me to sell my Midopa shares. Let’s hear what you have to say.”

Cheon Seong-deuk subtly let slip that there had been an offer from Donghae Group as well.
It was a remark tinged with a bit of mischief—he wanted to see the young man, despite his composure beyond his years, grow impatient and fidget.
But contrary to Cheon Seong-deuk’s expectations, Seok-won remained composed without the slightest hint of anxiety.
He had already anticipated that Donghae Group would approach him, knowing that acquiring a major shareholder’s stake in one transaction was far more efficient than painstakingly accumulating hundreds or thousands of shares on the market.

“What proposal did Donghae Group make?”
“I’m not obligated to tell you that, am I?”

Cheon Seong-deuk sipped his ssanghwatcha leisurely.

“I fear I may have been too hasty. If I’ve caused offense, I sincerely apologize.”

Cheon Seong-deuk’s eyes narrowed with surprise at how cleanly and promptly he withdrew without pressing further.

“They said they’d take all my shares at eighty thousand won per share.”

Then, as if his mind had suddenly shifted, he capriciously revealed Donghae Group’s proposal.
It was ten thousand won per share more expensive than the publicly declared acquisition price, yet Seok-won remained unmoved and composed.
It was only natural that to acquire a major shareholder’s stake, one had to offer a premium and better terms than individual investors—something he had anticipated to some degree.

“Seeing that Donghae Group initiated this shareholding battle, I’d concluded they were a formidable opponent. Yet they made only such a proposal to you, Chairman Cheon. I must say I’m somewhat disappointed.”

Cheon Seong-deuk regarded Seok-won with a look of “I told you so” as he sat there with composure, even offering a faint smile.
Seok-won met Cheon Seong-deuk’s piercing gaze without the slightest discomfort and spoke.

“We would like either to purchase your shares or to have you delegate your voting rights at the extraordinary general meeting that may soon be convened.”
“What price are you offering?”

Cheon Seong-deuk asked with an intrigued expression.

“Fifty thousand won per share.”

Cheon Seong-deuk doubted his own ears for a moment.
Compared to Donghae Group’s eighty thousand won per share, it was considerably lower—he couldn’t help but wonder if he’d misheard.
Cheon Seong-deuk straightened his spine and asked again with a stern expression.

“What did you just say?”
“Fifty thousand won per share, as I mentioned.”

Before Seok-won could finish, Cheon Seong-deuk’s gaze turned icy cold, his voice dropping to a chilling tone.

“Are you mocking me?”
“That couldn’t possibly be the case.”
“Then explain yourself. Tell me what possessed you to say such nonsense. And know this—if you fail to convince me, you’d best prepare for the consequences.”

Despite his considerable age, the weighty pressure he exuded bore down like a suffocating force.
Most would have struggled to utter a single word in such an atmosphere, yet Seok-won responded with unflappable composure.

“If you sell your shares at the price Donghae Group proposed, your profit won’t exceed two hundred billion won at best.”

Cheon Seong-deuk didn’t answer, instead crossing his arms and fixing a cold expression on his face.

“But if you side with us, I’ll make sure you earn a trillion won.”
“That’s absurd.”

Cheon Seong-deuk let out a cold laugh at what sounded like utter nonsense to anyone listening.

“You’re not even buying stocks at a premium, yet you claim you’ll make me earn a trillion won? That’s an outrageous bluff.”
“Ah, I misspoke. Rather than earning a trillion won, I meant preventing you from losing it.”

Cheon Seong-deuk’s expression darkened as he narrowed his eyes, then let out a heavy sigh.

“I heard the second son of Daeheung Group was quite clever and capable, so I invited him here. But it seems I’ve only wasted my time. Since there doesn’t appear to be anything more to discuss, why don’t you head back.”

Just as Cheon Seong-deuk began to rise as if there was nothing more to see, Seok-won suddenly blurted out a statement.

“I understand you’re holding commercial paper worth a trillion won issued by Hansei Group, aren’t you?”

Cheon Seong-deuk froze for a moment, then turned his head to glare at him menacingly.
Their gazes locked in the empty space between them as a heavy silence filled the reception room.
Soon, Cheon Seong-deuk spoke first, his voice deep and measured.

“Where did you hear such a thing?”

Commercial paper was a one-year short-term promissory note issued by corporations based on their creditworthiness to raise funds.
Seok-won picked up his teacup and took a sip, then gestured to the seat.

“If you’d like to continue our conversation, wouldn’t it be better to sit back down?”

At words that made it unclear who the master of the house was, Cheon Seong-deuk was left speechless, exhaling sharply.
By nature, he would have immediately shouted loudly and had his employees drag Seok-won out of the house, but the mention of Hansei Group made that impossible.
After staring at Seok-won with sharp eyes for a moment, Cheon Seong-deuk sat back down and spoke in a subdued voice.

“Now then, explain to me what connection the trillion won you mentioned has with Hansei Group.”
“Will you accept our proposal first?”

Cheon Seong-deuk’s eyes narrowed.
Seeing such a brazen, shameless attitude, he thought there was no one among his peers who could match this young man.
No wonder his name had reached even his ears.

“Fine. If I hear your story and find it convincing, I promise to hand over all my Midopa Department Store shares to you at fifty thousand won per week.”
“Thank you.”

Seok-won brightened immediately, as if he had been waiting for those exact words.
Though it was merely an oral promise with no legal binding force, Chairman Cheon Seong-deuk was famous throughout the Myeongdong private lending market for keeping every word he spoke, even if the heavens split in two.

‘Though I’ve never witnessed it directly, the various stories surrounding it have become legend.’

Seok-won leaned forward slightly and began speaking in a measured tone.

“From a company’s perspective, CP is precisely what allows them to procure desired funds conveniently and quickly without needing to provide collateral or guarantees that banks demand.”

Cheon Seong-deuk, leaning back against the sofa, urged him to continue with a glance.

“Conversely, investors who purchase CP can obtain high interest rates of fifteen percent annually in the short term. So it’s a financial product that benefits both parties.”

Finally, Cheon Seong-deuk’s patience wore thin and he frowned.

“Are you here to teach me economics?”
“Of course not.”

Seok-won spoke again with a serious expression.

“Though it appears to be nothing but advantageous, that’s only when it’s properly managed. In certain circumstances, it transforms into a poisoned apple with fatal consequences.”

At this, Cheon Seong-deuk’s snow-white eyebrows twitched.

“Precisely because the high interest comes with equally substantial risk that must be borne.”
“….”
“Since the procedures aren’t complicated and issuance is easy, it’s difficult to properly assess the financial condition of the company issuing CP or whether there are internal risks.”

Seok-won inwardly smiled, thinking he had properly hooked him, as Cheon Seong-deuk straightened his back and his expression grew grave.

“Moreover, when the issuing company defaults, senior creditors like bank-secured loans are repaid first, and only then can you recover funds from the remaining assets. Considering this, the possibility of losing your entire investment is actually quite high.”

After a moment of silence, Cheon Seong-deuk asked in a heavy, subdued voice.

“Are you saying Hansei Group is on the verge of bankruptcy?”

Seok-won met his gaze directly, his tone unwavering and resolute.

“Yes. At most, they won’t survive beyond a year.”

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