He Became King Sejong’s Lifelong Prime Minister - Chapter 118

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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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Breaking the Cartel (3)

The Sijeon Merchants are those who were allowed to continue existing as a ‘necessary evil’ when Joseon was founded.

So Lee Seong-gye bundled them together into a single organization to make them easier to manage.

Just like how he once designated a Red Light District to manage the entertainment industry.

And in exchange for allowing them to do business, they had to deliver Tribute Goods requested by the state for free, bear various labor duties, and pay very small taxes.

As long as they followed these rules, the Joseon Court would not interfere with the Sijeon Merchants’ activities unless they committed blatant crimes.

“This can’t happen unless they’re completely determined to monopolize everything among themselves. Don’t you think so, brother?”

Kim Man-seok, Gyeoul-i’s older brother, sighed after hearing my words.

“All merchants, no, all those who’ve done business in Hanyang for a long time are like that. They want to monopolize everything among themselves and absolutely won’t tolerate others butting in and stealing their customers. If they had tolerated it… could those bastards have maintained their positions for decades like they have until now?”

“A single merchant from outside alone couldn’t dare bring down the fortress those bastards have built up… but if dozens, hundreds, no thousands of merchants attack together, they won’t be able to hold out like they have until now.”

In the 21st century, it’s common for giant corporations that seemed like they would never fail to suddenly collapse, or for companies to suddenly experience rapid growth.

However, since the Sijeon Merchants have formed a complete cartel centered around Hanyang, they can pass down the commercial territories they’ve claimed from generation to generation.

Just as I don’t interfere with others’ commercial territories and profits, others must unconditionally respect my commercial territories and profits.

If anyone breaks this rule, they unite with one heart and one mind to crush that person.

The extreme manifestation of this is the geumnanjeon rights that allow the six major market merchants to independently crack down on Street Stalls (small business owners).

When the geumnanjeon rights are invoked, small business owners’ shops must immediately close.

The thugs employed by the Sijeon Merchants would beat small business owners trying to do business half to death and then steal all their goods.

Now Lee Bang-won is alive with his eyes wide open watching, and even after Lee Bang-won dies, if they get caught doing such things, King Sejong could personally separate a Sijeon Merchant’s head from their shoulders.

So they won’t resort to direct action.

The problem is that they’ll exploit the loopholes in Joseon’s flawed commercial laws to harass small business owners in ways that aren’t easily noticed.

“The Sijeon Merchants establish hierarchies among themselves and follow them very strictly. However, this is just pretending to strictly observe proper order based on ‘years of activity as merchants,’ but the reality is completely different.”

I had a friend who ran a business, and he often said this:

Business people are all called by the same title ‘president,’ so from the outside it looks like there’s no hierarchy.

In reality, the one with the larger company is the senior and the master.

Even excluding the relationship between subcontractors and main contractors, this is how it works.

Sijeon Merchants are not much different.

How long one has been in business matters, but in reality, the one doing business on a large scale is supreme.

‘Actually, this isn’t necessarily a bad thing when you think about it.’

“That may be so, but the problem is that these Sijeon Merchants inherit their positions. That’s why Father-in-law had to pay an enormous amount of money when he first came to Hanyang to become a Sijeon Merchant.”

“Those whose fathers are Sijeon Merchants only need to pay 1 seom of White Rice, but since our Father was a newcomer, he had to pay 30 seom of White Rice. Moreover, to join the Sijeon, don’t you need approval from the existing Sijeon Merchants? The Bribe we had to give them at that time exceeded 200 seom of White Rice.”

“Their determination to keep newcomers out and monopolize everything among themselves is truly remarkable.”

Surprisingly, that amount was after my reputation had risen significantly while serving as Jinhae County Governor, so ‘special discounts’ and ‘various preferential treatments’ were applied.

In reality, other Merchants would have to pay several times more than that to join the Sijeon.

‘The membership fee would be the same, but there would be a severe difference in bribes.’

If someone thinks that amount is too expensive and tries to do business near Hanyang without paying the membership fee.

The interest group called Sijeon Merchants would come and beat them half to death and force their shop to close, so there’s no choice.

“And brother, you may have already heard, but the Royal Court is currently thinking of developing areas near ferry crossings like Yongsan and Gwangjin.”

“Among those who do business in Hanyang, there’s no one who doesn’t know that fact. That’s why I’m also trying to buy land – could our brother-in-law perhaps help a little?”

“Helping you wouldn’t be difficult. However, there’s something I’d like you to do.”

“If it’s my brother-in-law’s request, I’d believe it even if you said to grind Stones to make Soybean Paste – what couldn’t I do? Just please don’t spend our family’s wealth recklessly without saying anything…”

“I was too hasty about that matter, brother.”

Even though it was definitely an investment that would skyrocket by several hundred percent or more, I was a bit too extreme.

From my brother’s perspective, it must have looked like our family’s entire wealth had instantly turned into some random shitcoin, so how shocked he must have been.

‘Well, in reality it wasn’t a shitcoin but Bitcoin.’

“Please spread some rumors about a month from now.”

“What kind of rumors?”

“That the Sijeon Merchants are pooling large sums of money to buy up all the land near ferry crossings like Yongsan and Gwangjin, and along the roads connecting to the Sijeon, and they plan to build workshops there to monopolize business and keep all the enormous profits to themselves.”

“Wouldn’t that alone be insufficient? Is there anyone in Hanyang who doesn’t know that those bastards are materialists among materialists who try to monopolize business and rake in enormous profits? The people of Hanyang would never get angry over rumors of that level.”

My brother, you’ve been on many ships and have awakened to the ‘power of hatred.’

At this rate, you’ll soon be threatening them like the English, Spanish, or Portuguese bastards – giving them underwear and hardtack in exchange for demanding they hand over black pepper.

Since you’re so enthusiastic and have such good judgment, even without my recommendation, Minister of Finance Min Gye-saeng will probably make you ‘voluntarily enter government service.’

“Let’s do this.”

Instead of silver, a smile like that of an East India Company employee who sold pain-relieving cure-alls to China appeared on my brother’s face.

“How about we spread rumors that the evil Market Guild merchants are buying up all the land in Gwangjin, Yongsan and other areas, and trying to control the water transport there to greatly raise prices in Hanseong?”

… Why has our brother become so wicked?

The Manseok brother I knew was an innocent person…

“When I asked the Market Guild merchants I’m friendly with, they told me that both during Former Goryeo times and even now, these bastards often pull this kind of stunt. During spring famines, the Market Guild merchants buy up all the rice brought by merchant ships from Jeolla Province, Chungcheong Province, and Gyeongsang Province at Incheon. Then they sell it in Hanyang at 2 or 3 times the price they paid.”

“If they did such things, the Royal Court officials wouldn’t stand for it.”

“Haha, they sell to the Royal Court and court officials at normal prices. To interpreters, medical officials, and middle-class people, they only overcharge slightly. But to the Common People who make up most of Hanyang’s population, they sell at 2-3 times the price to make huge profits. The rice merchants make enormous profits this way every year.”

It’s not like nobles eat a whole seom of rice per day, nor do slaves eat only one hop.

So food like rice is naturally consumed most by the Common People who make up the majority of Hanyang’s population…

‘Even just overcharging the Common People brings enormous profits.’

“There are things even you don’t know.”

It’s not like I know everything either.

In late Joseon, noble officials – no, even among nobles, the wealthy ones – considered touching money itself such a lowly task that some lived their entire lives without ever touching a single copper coin, right?

I too never go to the market to buy things directly, and Winter also has servants buy things for her, so I don’t really know that prices differ this much.

‘Damn it.’

Actually, it seems like Father-in-law should normally be telling me such things…

Since Father-in-law took office, he works during the day and spends his nights reading the Four Books and Three Classics – how could he know such details?

“Brother-in-law, you know what.”

“Yes, brother.”

“I hate those Market Guild merchant bastards. Do you know how much those bastards tormented and harassed us before you sent Ryu Jeong-hyeon away? You can’t even imagine.”

They must have used all sorts of underhanded methods to torment them.

Nevertheless, it must be that Father-in-law and my elder brother’s abilities were so outstanding that they somehow endured and made it this far.

“And if I divide those bastards…”

Ah, actually if I really wanted to, I could move Lee Bang-won to crush the cartel with an iron mace.

But the iron mace is so powerful that all the Sijeon merchants could be swept away.

Then the city of Hanyang would face Great Depression-level problems, even if temporarily.

So rather than that, I need to divide them from within, making them beg to destroy the interest group called ‘Sijeon merchants’ themselves.

“I will make the very word Dojung (a group where Sijeon merchants gather, a kind of cartel) disappear.”

Collusion, cartel.

These are social evils.

So die for Joseon.

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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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