Golden Spoon Investment Portfolio - Chapter 479

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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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479. Of course I have to accept it! What’s there to even ask about?

A few days later.
Just past 1 PM, a large black sedan with heavily tinted windows slowly approached and came to a stop in front of the Seoul Southern District Prosecutors’ Office.
A foreign man in a suit stepped out from the rear passenger door—it was John Howell, the Korea branch director of the Rothschild Fund.
The face of Director Ha-wol, who had come to the Prosecution with his Lawyer, was rigid as concrete.
The moment Director Ha-wol appeared, reporters who had been waiting since morning rushed forward en masse.
Camera flashes erupted from all directions, and reporters thrust microphones forward, pelting him with questions.

“All the allegations that have been raised have turned out to be true—please give us a statement about this!”
“Is it true that you improperly used the Debt Adjustment Fund?”
“What do you think about the Prosecution’s decision to ban you and other key executives of the Rothschild Fund from leaving the country!”
“Do you admit that you attempted to reduce debt using national tax money and sell off Hansan Group subsidiaries at bargain prices!”

Even amid the barrage of flashing cameras from every direction, Director Ha-wol stood silently before the photo line without answering a single question.
Then investigators from the Prosecution who had positioned themselves beforehand formed a circle around him, preventing the reporters from getting too close.

“Don’t push!”
“You’re blocking the view. Move aside!”

Reporters trying to advance even slightly and investigators blocking them engaged in a heated physical struggle.
When the Prosecution investigators, standing firm as an iron wall, finally opened a path, Director Ha-wol, who had been frozen in place, moved forward with his Lawyer and entered the building.
The moment Director Ha-wol passed through the glass doors and entered the lobby, his face contorted as the reporters’ gazes were cut off.

“Damn it!”

It was because, contrary to Chairman Peterson’s assurances that he would apply pressure through the United States government, he had been subjected to the humiliation of appearing before the Prosecution for questioning.
Had he not made such promises, he could have left the country temporarily to avoid the situation when he noticed the atmosphere turning ominous.
But trusting Chairman Peterson’s words and letting his guard down, the travel ban had been issued, leaving him completely stranded in Korea.

“How did things come to this… Damn it all.”

Director Ha-wol cursed Chairman Peterson inwardly while running his hand through his hair.
Though he was currently a witness, the Lawyer had informed him that he could be reclassified as a suspect after the investigation, making his steps into the Prosecution building feel all the heavier.

* * *

Seoul Jongno Government Complex Building 1.
Deputy Prime Minister Cheon Byung-su sat on the sofa with a cigarette between his lips, his face etched with concern, as he listened to the report from Vice Minister Shin Seung-gi.

“As we were informed in advance, Ha-wol, the Korea branch director of the Rothschild Fund who appeared at the Seoul Southern District Prosecutors’ Office, has been reclassified as a suspect.”
“Sigh. So it’s come to this after all.”

I had known this would happen since the Prosecution had given advance notice, but hearing that he had actually become a suspect weighed heavily on my mind.

“What’s the American response?”

When the new administration took office, the Ministry of Finance and Economy, which bore significant responsibility for the IMF crisis, was split into two entities: the Ministry of Finance and Economy and the Budget Office.
Shin Seung-gi, who had become the newly appointed Vice Minister of Finance and Economy, answered with a somewhat enigmatic expression.

“That’s what’s strange, sir.”
“What do you mean?”

Deputy Prime Minister Cheon Byung-su furrowed his brow and asked.

“At this point, there should be some kind of reaction one way or another. But there’s been no movement whatsoever.”
“Is that so?”
“Yes. The American government has been so quiet it’s almost embarrassing—we had our guard up, bracing for strong objections and protests, but nothing has come.”

After hearing this, Deputy Prime Minister Cheon Byung-su’s eyebrows twitched, and his expression grew puzzled.
The United States was a nation that reacted with extreme sensitivity whenever its citizens’ lives were threatened or their interests were compromised.
That was precisely why, despite their anger at the Rothschild Fund’s deception of the Korean government, they had hesitated to impose sanctions until the very end.
In the end, they had drawn the sword—terminating the Debt Adjustment Fund trust contract and initiating a Prosecution investigation—but everyone had been anxiously watching to see how the American government would respond.
Yet now, with all that tension proving pointless as there was no reaction at all, unease crept in instead of relief—the suspicion that something else was afoot.

“What on earth are they scheming?”

Deputy Prime Minister Cheon Byung-su muttered, his face full of wariness.

“I find it puzzling as well, but at least for now, contrary to our concerns, the American government is staying quiet—isn’t that fortunate?”

Yet Deputy Prime Minister Cheon Byung-su could not shake off his lingering unease.

“That may be true, but the fact that America is being so docile when they usually pounce like hawks at the slightest disadvantage to their own companies and apply every kind of pressure—that’s what makes me uncomfortable.”

Shin Seung-gi nodded slightly in agreement.
Cheon Byung-su, the Deputy Prime Minister for Economic Affairs, tapped his fingers lightly on the armrest of the sofa as he gathered his thoughts, then looked up again.

“I can’t shake this uneasy feeling. Keep your guard up and continue monitoring the movements of the United States government.”
“Understood.”

Cheon Byung-su took a sip of coffee from his cup, trying to dispel the lingering sense of unease, then set it down.
With a somewhat weary expression, he changed the subject.

“I heard the Creditor Consortium terminated the restructuring mandate contract with the Rothschild Fund for Hansan Group.”
“Yes. With numerous problems coming to light and public sentiment deteriorating significantly, it would have been difficult to maintain the contract as is.”
“That makes sense. Moreover, since most banks are receiving support from public funds created by taxpayers’ money, they would have felt even more pressure.”

Shin Seung-gi answered carefully.

“As a result, the sale of Hansan Group affiliates that was underway appears to be indefinitely postponed.”
“There’s no helping it.”

As Cheon Byung-su spoke while clicking his tongue, Shin Seung-gi added with an awkward expression.

“However, with the sale being delayed, it appears that a substantial amount of additional operating funds will need to be injected.”
“Hmm.”

Watching Cheon Byung-su’s expression darken as he let out a low sound, Shin Seung-gi continued.

“Additionally, there is a need to discuss how to handle the 1.5325 trillion won in Hansan Group debt that the Rothschild Fund had agreed to bear.”
“It would be difficult for the Creditor Consortium to split and absorb it, wouldn’t it?”

Shin Seung-gi shook his head with a skeptical expression.

“We’ve already agreed to forgive 3.8137 trillion won. Taking on additional burden here would be difficult for the Creditor Consortium to accept.”
“That would be the case.”

With these words, Cheon Byung-su’s concerns deepened further.

“Furthermore, if the Rothschild Fund completely withdraws from Hansan Group, there is also the issue of having to return the 345 million dollars injected as a bridge loan.”

Rather than the situation becoming clearer, it only grew more tangled, and I couldn’t help but furrow my brow.

“We’re in such dire straits for foreign currency that we have to return such a massive sum. This is absolutely maddening.”

Cheon Byung-su, the Deputy Prime Minister for Economic Affairs, felt a throbbing pain at the back of his head as he desperately tried to devise a solution.

“Since the Rothschild Fund failed to honor its commitments and created this mess, what if we freeze the bridge loan repayment until the asset sale is completed, even if we can’t confiscate the investment funds?”
“That would be ideal, but we risk provoking the American government, which has been restraining itself. That could invite far greater catastrophe.”

Cheon Byung-su, acutely aware that the American government—a formidable adversary—could intervene at any moment, let out a groan of despair.

“Ugh.”

He pressed his throbbing temples repeatedly with his palms, muttering in lamentation.

“I wish some savior would suddenly appear and acquire all the Hansan Group subsidiaries.”

Shin Seung-gi, the Vice Minister, knowing full well this was a baseless fantasy, wore a bitter expression in silence.
Cheon Byung-su himself recognized the slim probability of such an occurrence and simply exhaled a deep sigh.

“It seems we have no choice but to inject taxpayer money once again.”
“However, even if we handle the debt that way, the bridge loan that must be repaid in foreign currency remains a critical problem.”

Cheon Byung-su, arms crossed, wore an expression of frustration.
No matter how he thought about it, there was no solution—seal one hole and another would spring a leak.

“I can’t fathom the suffering these Rothschild Fund bastards have caused us.”

Cheon Byung-su spoke through gritted teeth.
Shin Seung-gi, too, felt exasperation welling up at the situation completely entangled by the Rothschild Fund.
Just then, a knock sounded from outside and the Female Secretary entered.

“Forgive the interruption.”
“What is it?”

Cheon Byung-su leaned back in his chair, his voice carrying the weight of exhaustion.

“Lee Dong-wook says he has an urgent report. How should I proceed?”
“Send him in.”
“Yes, sir.”

After the Female Secretary left, Lee Dong-wook, a department head in a gray suit, entered with a slightly flushed face.

“What’s this urgent report about?”

Cheon Byung-su, the exhausted Deputy Prime Minister for Economic Affairs, asked with a hint of annoyance, and Lee Dong-wook responded immediately.

“Daehung Venture Capital has submitted a letter of intent to the Creditor Consortium to acquire four subsidiaries of Hansan Group, including Manyoung Machinery, for 1.8 billion dollars.”
“…!”

Cheon Byung-su, the Deputy Prime Minister for Economic Affairs, blinked his eyes with a rigid posture at the completely unexpected news.
It was such an unbelievable report that he wondered if he was hearing things from stress.
At that moment, Shin Seung-gi, the Vice Minister who had been sitting with him, was startled and leaned forward, asking.

“Is that really true?”

Only then did Cheon Byung-su, the Deputy Prime Minister for Economic Affairs, realize he had heard correctly and stared at Lee Dong-wook with wide eyes.

“Yes, sir. They have formally submitted the acquisition letter of intent, and they have conveyed their intention to assume the debt of 1.5325 trillion won that the Rothschild Fund was supposed to bear, in the form of paid-in capital increase.”
“They’re taking on even the Rothschild Fund’s share? They really said they’d do that?”

When Cheon Byung-su asked again, Lee Dong-wook nodded vigorously.

“Yes, sir. What’s even more encouraging is that they said they would pay the acquisition funds in dollars, not won.”
“What!”

Cheon Byung-su, the Deputy Prime Minister for Economic Affairs, smiled brightly as if his face had never been filled with worry, and spoke.

“So they’re investing a billion dollars?”

Lee Dong-wook also responded with a broad smile.

“Including the acquisition price for the four subsidiaries, it comes to 2.8 billion dollars.”
“Ha ha ha! I see.”

Cheon Byung-su, the Deputy Prime Minister for Economic Affairs, burst into hearty laughter and slapped his knee.

“Just moments ago, I was worried about the bridge loan of 345 million dollars to repay the Rothschild Fund, and now we’re attracting foreign investment that’s more than eight times that amount! It seems there really is no such thing as a hopeless situation. Don’t you think?”

When he turned his head to look, Shin Seung-gi, the Vice Minister, also responded with a bewildered expression, unable to believe that the problem that had seemed so hopeless had suddenly been resolved as if it were a lie.

“Exactly.”

Cheon Byung-su, the Deputy Prime Minister for Economics, spoke with a bright smile playing at the corners of his mouth.

“Two point eight billion dollars is a substantial sum, but Chairman Park of Daehung Venture Capital should be more than capable of handling it.”
“Indeed. When he merged and acquired insolvent finance companies including Ilhan Bank and Hansung Bank, he immediately deposited massive sums in dollars, did he not?”
“And that’s not all—during our most desperate hour, he purchased nine billion dollars in foreign bonds, giving us the breathing room we desperately needed.”

Shin Seung-gi, the Vice Minister, nodded as he recalled those days when the nation had teetered on the brink of default before Seokwon’s intervention pulled us back from the precipice.

“Precisely. Without Chairman Park’s intervention then, I shudder to think what would have become of us.”
“Indeed.”

Cheon Byung-su, having regained considerable composure, murmured with satisfaction.

“This time, too, we’ve incurred a tremendous debt to Chairman Park.”

It was then that Lee Dong-wook, sensing the moment, carefully interjected.

“The Creditor Consortium has inquired whether we should accept their acquisition proposal. What shall we do?”
“Of course we should accept it! Why would there be anything to deliberate?”

Cheon Byung-su burst out, then abruptly fell silent.

“Ah, no, wait. We should still inform the Blue House first. Contact the presidential secretariat immediately and arrange for me to meet with the President right away.”
“Understood.”

Lee Dong-wook responded promptly and stepped out.

“It’s as though a lifeline has been cast down from heaven itself.”

Cheon Byung-su’s expression softened with relief at having found a way to resolve the Hansan Group problem that had been plaguing him. Yet even as he relaxed, anxiety gnawed at him—what if Seokwon had a change of heart in the meantime?
His leg bounced nervously at the thought.

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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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