Golden Spoon Investment Portfolio - Chapter 512

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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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512. What’s with this nobody spouting off?

“So construction on Bundang Megaport begins next month, correct?”

Park Tae-hong, seated at the head of the table with one leg crossed, posed the question to Gil Seong-ho, who sat on the sofa to his right.

“Yes. All administrative procedures have been completed, so they plan to select a new construction company and commence work immediately.”
“With over 9,300 pyeong of commercial space, it should be quite substantial.”
“I understand they’re planning to create a comprehensive lifestyle shopping complex—not just retail facilities, but also a post office, bank, automobile showroom, and even a Seongnam City Hall branch office, allowing customers to handle everything in one location.”

Park Tae-hong nodded slightly and spoke.

“With the new city development, population has surged, but there’s a relative shortage of dining and entertainment spaces, and convenience facilities remain insufficient. A large-scale comprehensive lifestyle shopping complex would certainly have strong prospects for success.”
“Moreover, we could capture the first-mover advantage.”
“Precisely.”

Park Tae-hong picked up the teacup before him, took a sip of coffee, set it down, and continued.

“The aftereffects of the IMF crisis still linger, and liquidity in the market remains tight. You’ve secured a solid plan for construction financing without complications, I trust?”
“Fortunately, the sale of Daeheung Textiles is proceeding smoothly, and I understand WB Bank, our group’s new primary banking partner, has concluded negotiations to provide up to 50 billion won in loans using the Bundang Megaport site as collateral.”

Park Tae-hong’s expression brightened upon hearing the response.

“The boy’s handling things well. I needn’t concern myself with it.”

Gil Seong-ho watched Park Tae-hong’s amused expression carefully before asking cautiously.

“You’ve completely divested from textiles, the foundation of the group. Do you have no regrets?”
“It would be a lie to say there’s no sense of loss. But as my eldest son says, if we cling to the past, we cannot move forward, can we?”

Park Tae-hong spoke with a detached expression, and Gil Seong-ho bowed his head.

“A wise perspective, sir.”

At that moment, a knock sounded, and Jung Yun-kyung, dressed in a two-piece suit and wearing horn-rimmed glasses, opened the door and entered.

“Pardon the interruption.”
“What is it?”
“Chairman Shim In-yeol of Haecheon Group is calling. Shall I put him through?”

Park Tae-hong narrowed his brow and turned to look at Jung Yun-kyung from where he sat on the sofa.

“Chairman Shim is calling?”
“Yes.”
“I heard he was released on bail from the Detention Center, but why would he suddenly call out of the blue? Did he say what this is about?”
“He said he would explain directly, sir.”
“Very well.”

Though we shared an acquaintance through the Federation of Korean Industries, we were hardly close enough for him to call immediately upon his release on bail.
More troubling still was that Shim In-yeol, as the owner of Haecheon Group, held Blue Hole Life—recently acquired by his second son—as a subsidiary.

“Shall I tell him you’re busy?”

Jung Yun-kyung asked cautiously, and I shook my head.

“No. I have no reason to avoid this. Put him through.”
“Understood, sir.”

Jung Yun-kyung turned and left with a brief reply.
As the door closed, Chief Secretary Gil Seong-ho spoke to me.

“Do you think he’s calling about Minguk Life—or rather, Blue Hole Life?”
“The acquisition is already complete and we’ve even changed the signage. What could possibly change now by him calling me? Besides, if he’d managed his company properly instead of engaging in misconduct, he wouldn’t have lost Blue Hole Life in the first place.”

I let out a derisive snort and replied curtly.
Then the phone rang, and I picked up the receiver from the key phone installed on the side table next to the sofa.

“Hello.”
[This is Shim In-yeol.]

Born in 1939, he was nine years my junior, so I spoke to him casually.

“It’s been quite a while. I heard you were released on bail.”
[How could this happen? No matter how much the group entered court receivership and I’ve become like a kite with a severed string, how could this be allowed?!]

Chairman Park Tae-hong’s brow furrowed as the man raised his voice and began his accusatory tirade without preamble.
He hadn’t anticipated such crude behavior—not even a greeting before launching into complaints.
Yet Chairman Park Tae-hong maintained his composure, his voice steady and firm.

“What is this about?”
[It’s about your second son, Chairman Park! I lost Minguk Life, and I’m furious about it. And now you’re prosecuting me for embezzlement and breach of fiduciary duty? How could you do this?]

Understanding the reason for the outburst, Chairman Park Tae-hong’s face turned cold and icy as he clicked his tongue in disapproval.
Then, his voice dropping to a measured tone, he asked:

“You called me just to complain about that?”
[Order the prosecution to drop the charges immediately!]
“Hah.”

As Chairman Park Tae-hong let out an incredulous laugh, Chairman Shim In-yeol’s irritated voice continued crackling through the receiver.

[You’ve made some money by sheer luck and now you’re acting reckless like a fool. You’re going to get hurt badly!]
“What?”

Chairman Park Tae-hong’s thick eyebrows shot upward.
Despite the man being a fellow Federation of Korean Industries member, and despite his emotional turmoil over losing his company and facing prison, Park had been restraining his anger—until he heard the curses directed at his son. That was when his patience snapped.

“Are you threatening my son by saying he’s going to get hurt?”

Chairman Park Tae-hong’s face flushed with fury as he bellowed.
The thunderous roar that filled the room startled even Chief Secretary Gil Seong-ho, whose eyes widened in shock.

[That’s not what I meant….]

Chairman Shim In-yeol, flustered, tried to explain, but Chairman Park Tae-hong, having crossed the threshold of patience, his face flushed crimson, spoke with savage intensity.

“That’s exactly what you meant! I took your call out of sympathy for your troubles, and this is what I get? You squandered the entire group your predecessors built, and now you have the audacity to spout nonsense?”
[Isn’t that going too far!]

When Chairman Shim In-yeol spoke with a stern expression, Chairman Park Tae-hong made a dismissive snort, making it clear he was done listening.

“If I were to say what I really think, I’d say far worse things, but I’m restraining myself because I don’t want to sink to your level!”
[Ugh!]

Chairman Shim In-yeol’s jaw clenched tight.
But Chairman Park Tae-hong paid no heed, his expression turning glacial as he spoke.

“Let me warn you in advance—if you so much as touch a single hair on my son’s head, I won’t sit idle. Remember that well.”

Without waiting for a response, he slammed the receiver down with such force it seemed he might shatter it.

“Who does this fool think he is, spouting off like that!”

His fury far from subsiding, he spewed curses through gritted teeth, prompting Chief Secretary Gil Seong-ho to gauge his mood carefully.

“What did Chairman Shim say to upset you so?”
“The group’s already been torn to shreds and scattered, yet he still calls himself a chairman!”

Chairman Park Tae-hong exhaled roughly, his brow furrowed in anger.

“Blue Hole Life apparently embezzled company funds all this time, so I took legal action to recover it. And the bastard has the audacity to call and demand explanations? This is exactly how a perfectly sound company gets destroyed!”

Chairman Park Tae-hong snorted sharply through his nose, grinding his teeth.

“Damn him. How dare he curse at me like that!”

* * *

“Something like that happened?”
[Yes. I believe this is the first time I’ve seen the Chairman so angry in recent memory.]

Hearing Chief Secretary Gil Seong-ho’s account, Seok-won, seated at the expansive desk in the Chairman’s Office, felt his expression harden slightly.

“I’m sorry for putting him through such trouble because of me.”
[He told me not to worry you with such things, but I felt you should know regardless.]
“Of course I should know. Thank you for calling me.”
[Not at all. I’ll let you go now since you must be busy.]
“All right.”

Seok-won set down his phone, his expression turning cold.

“He dared call Father without fear. It seems he’s underestimated me.”

A fierce glint flashed across his narrowed eyes.

“I need to teach him a lesson he won’t forget—make sure he never pulls something like this again.”

With that, I picked up my phone and called Landon Shore in New York.
After the dial tone rang for a while, Landon’s voice came through, thick with sleep as if he’d just been roused awake.

[Yes, boss.]
“Sorry for calling so late.”
[Not at all. What can I do for you?]

I leaned back against the plush chair and spoke.

“Remember that task I assigned you regarding Blue Hole Life?”
[You mean finding the assets the former chairman embezzled and hid overseas?]
“That’s the one.”
[We’ve been investigating through the same channels we used to handle Ho-geun previously. Actually, we’ve made some progress—I was planning to contact you about it today.]

My eyes widened as I adjusted my grip on the phone.

“You’ve found something?”
[A two-million-square-meter winery in California Napa Valley and a 24-hole golf course near San Francisco—both registered under a family company created by Chairman Shim In-yeol’s wife and eldest son.]
“They bought those with the embezzled money from Blue Hole Life?”
[Before Blue Hole Life entered court receivership, Chairman Shim established an offshore fund in the British Cayman Islands and illegally transferred massive amounts of foreign currency abroad. You remember that, don’t you?]

I straightened up in my chair and asked.

“So he used that money to purchase the winery and golf course?”
[We haven’t found definitive proof yet, but tracking the fund flows has revealed substantial circumstantial evidence pointing in that direction.]

I stroked my cleanly shaved chin thoughtfully as I murmured.

“If it weren’t embezzled money, he wouldn’t have hidden the purchase in the first place.”
[Exactly. And given that the timing of the real estate acquisition coincides with when the funds were moved, it’s highly likely these are embezzled assets the Korean Prosecution overlooked.]

A dark smile spread across my lips as I listened.

“Chairman Shim’s family is currently in the United States, correct?”
[Yes. They’re living in Hillsboro, a prestigious neighborhood in California, in a five-million-dollar residence.]

When the company went bankrupt, employees lost their livelihoods overnight and were driven to the brink of ruin, while the group owner lived in luxury off the money he had secretly siphoned away—a textbook case of corporate malfeasance.

“You mentioned that Eldorado Fund can take legal action in the United States on behalf of Blue Hole Life against the funds Chairman Shim embezzled, correct?”
[That’s correct. Since we acquired one hundred percent of the shares and took complete control of Blue Hole Life, we possess the legal authority to act. However, to recover the hidden assets, we must obtain a final court judgment confirming that the property was acquired through illegal means.]

As a lawyer by training, Landon Shore understood the procedures that had to be followed.

“Even before a final judgment is rendered, if there’s circumstantial evidence suggesting the property was acquired through criminal activity, couldn’t we place a provisional attachment to prevent it from being secretly disposed of?”
[That’s certainly possible.]

Seok-won broke into a smile, his white teeth flashing.

“Then let’s place a provisional attachment on the residence in Hillsboro and the hidden assets we’ve uncovered, and file a lawsuit in the American courts.”
[Wouldn’t it be better to secure a bit more evidence before we make our move?]
“I was planning to do that originally, but I’ve changed my mind. The laid-off employees are suffering right now, and the owner’s family responsible for this mess is living comfortably off the company funds they’ve hidden away. I can’t let them enjoy even a single day of that comfort without consequence.”

Though puzzled by the sudden change of heart, Landon Shore saw no legal obstacle to proceeding with the evidence they already possessed, so he asked no further questions.

[Understood. I’ll proceed as you’ve instructed.]
“Good.”

After ending the call moments later, Seok-won lowered his phone with an icy expression.

“If they’d kept their heads down, they could have enjoyed their lavish lifestyle a while longer. But this is entirely of their own making.”

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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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