I Will Raise This Family to Greatness - Chapter 50

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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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Chapter 50
Jason straightened his posture and looked directly at me.
He’d heard that the boy named Sung-guk was exceptionally bright. He’d also heard that Chairman Jeon Jae-hyung wanted to nurture him as a talent.
But he was only seven years old. I’d come in thinking that whatever a seven-year-old understood wouldn’t amount to much, yet Sung-guk proved to be far more remarkable than expected.
Still, over the past few days, television and newspapers had been constantly discussing the foreign exchange crisis. Even a young child could grasp the situation to some degree through osmosis.
“Sung-guk, do you understand what it means when people say a nation has defaulted?”
“It means foreign exchange reserves have been depleted, and overseas investors are withdrawing their capital.”
I answered casually.
Even if I mobilized all the knowledge I possessed, it wouldn’t change this situation, and I was tired of hearing people call me a genius or prodigy.
“Sung-guk, what do you think will happen to our country from now on?”
[What will happen? We’ll become a proud nation that overcomes the foreign exchange crisis faster than anyone else.]
I decided to answer with a realistic perspective.
“It will be difficult for a while, but I think South Korea’s economy will change significantly through this opportunity.”
“What do you mean by that?”
[You know exactly what I mean. Jason, are you testing me right now?]
I placed my hand on my chin and spoke with a thoughtful expression.
“Companies will rush to restructure. The concept of lifetime employment in South Korea will disappear. Now we’ll truly enter an era of unlimited competition.”
This was the change ordinary people would experience.
“Furthermore, many companies will likely go bankrupt. The management practices that had been run haphazardly until now will become transparent. It’s a painful period, but if we overcome it well, it will accelerate transparency in South Korean business management.”
Jason’s mouth fell slightly open.
My words contained not only economic concepts about the IMF foreign exchange crisis, but also social implications.
Jason closed his mouth, then leaned toward me with a solemn expression.
He had shown no interest in any of the other children in this special class.
It felt as though only Sung-guk and Jason existed in this space.
“Sung-guk, then what will you do from now on? Will you continue living in a nation that has defaulted? Or….”
“I’ll continue living here. A nation isn’t something you can simply abandon.”
I answered.
It had been the same when I was the heir to Samjeon Group.
This was where I was born and raised. All my enterprises had their roots here. In my previous life, I couldn’t abandon this place because I had invested so much in it. In this life, I couldn’t abandon this nation because I had nothing yet.
And this was the greatest difference between Jason Lee, a foreigner with black hair, and me.
Jason Lee would leave this nation in a few months. And once the IMF foreign exchange crisis was overcome, he would return. For him, South Korea wasn’t his homeland but a country for making money.
“You have remarkable patriotism. But Sung-guk, I’m an investor, so let me speak from an investor’s perspective. No one invests in a nation that has defaulted. Right?”
“That’s only because people focus on the default itself. If you look at the potential for recovery, it’s different. I believe South Korea will overcome this national default well.”
Jason Lee let out a bitter laugh. It seemed he was dismissing my words as mere patriotic sentiment from a child.
Jason Lee soon straightened his posture and resumed his lecture.
“Honestly, it doesn’t seem like any family in this Samjeon Group special class feels threatened by the IMF foreign exchange crisis. But this is a situation where the nation has defaulted. Honestly, no one knows what will happen to South Korea from now on. Like Sung-guk said, I also hope that South Korea will soon become healthy. Well then, let’s end today’s lecture here.”
Jason Lee continued to view South Korea from the perspective of a foreigner until the very end.
After Jason Lee left, the children gathered around me.
Seo Yeo-rim asked first.
“Sung-guk, if the nation has defaulted, that’s a big problem, right?”
Seo Yeo-rim’s family, being the granddaughter of the Minister of National Defense, had nothing to worry about. Seo Yeo-rim’s father ran a company supplying military equipment, so he suffered little impact during the foreign exchange crisis.
South Korea was a divided nation. Moreover, it bordered China, Japan, and Russia. The defense industry was a sector that could never truly collapse.
Kang Ju-sung, grandson of the Prosecutor General; Lee Se-hee, granddaughter of the Samjeon Hospital director; Kim Hyun-joong, grandson of the Samjeon Electronics CEO. Of these, Kim Hyun-joong was the most vulnerable.
Kim Hyun-joong’s grandfather would likely step down from his position, but honestly, having served as CEO of Samjeon Electronics, he would have accumulated enough wealth to sustain three generations.
“Even if South Korea collapsed, none of us would go under.”
I stated this with absolute certainty.
* * *
Ji-sung, Sung-guk’s father, gulped down his cola with a bewildered expression.
“Sung-guk’s father, I’m truly sorry to bring this up.”
Ji-sung was the owner of the apartment shopping complex where the restaurant was located.
“My situation has become urgent. I overextended myself last year and bought a commercial building in Gyeonggi Province, but who could have predicted this foreign exchange crisis would hit so hard?”
“Owner, so you’re putting it up for sale?”
“Distressed sales are flooding the market these days. I’m taking a real loss, but I’m listing it for 100 million won. Does Sung-guk’s father have any interest in buying?”
“You’re putting it up today?”
“Yes, I’ll sell it to whoever comes forward. These incompetent leaders at the top—do they even know or care that ordinary people are suffering? Sigh.”
The owner let out a heavy sigh and gulped down the cola in front of him.
“Owner, let me go home and discuss this with my wife.”
“Sure, I’d feel better handing it over to a tenant. Check the market price at a real estate office. Since it’s a distressed sale, it should be similar. If you can’t buy it, call me first thing tomorrow morning. I’m at my wit’s end.”
“Yes, I will.”
The commercial building owner finished his cola, anxious about the situation, and left the restaurant.
Ji-sung felt conflicted.
It had been two years since opening the restaurant. He was just beginning to establish himself….
Ji-sung quickly checked the time and headed straight to the real estate office next door.
As he opened the door, a familiar-faced real estate agent was fielding calls non-stop.
The middle-aged real estate agent gestured for Ji-sung to sit on the sofa.
“Yes, yes. There are an incredible number of listings these days. The only option is to lower prices. Yes, I understand.”
The real estate agent quickly hung up and approached Ji-sung.
“Boss Jeon, the owner of that commercial building came by today.”
“Actually, I wanted to ask you about that. He asked me first if I was interested in buying.”
“What’s your take on it?”
“He said 100 million won. What about the price?”
“Honestly, that’s market rate. With so many distressed sales flooding the market right now, buying at this moment might not be the best timing. But realistically, moving the restaurant and upgrading equipment will cost money too, so think it over carefully.”
“Yes.”
Ji-sung nodded quickly.
Just as the real estate agent said, while distressed sales were pouring in, moving a restaurant he’d barely established with equipment already installed would require additional expenses regardless.
Ji-sung stood up with a heavy heart.
“Take care.”
“This foreign exchange crisis or whatever—only the poor are suffering. I’ll try to negotiate with the landlord down to 90 million. Think about it.”
“Yes, sir. Thank you.”
Ji-sung bowed respectfully and left.
* * *
Father usually closed the restaurant and came home at 10:30.
Today he arrived a little earlier, at 10 o’clock.
Mother opened the door in surprise.
“Honey, you’re home early today.”
“Not a single call came in after 8 o’clock.”
“Really?”
“Everyone’s been anxious lately, you know. With all this talk of restructuring, forced retirements, layoffs. People are cutting back on dining out first.”
“Even my modeling fees have been getting reduced lately.”
“At this rate, I’m worried the country itself might collapse.”
[Father, that won’t happen. South Korea isn’t that fragile.]
Father peeked into my room, which had its door ajar.
I was searching for various world news on the laptop Kim Mi-young had given me as a birthday gift.
“Sung-guk, it’s Dad.”
[Oh, I forgot.]
I quickly ran over to Father and gave him a kiss on the cheek.
[Father, I was a bit busy. Sorry.]
“Sung-guk, staring at the laptop screen too long will ruin your eyes.”
“Just a little bit more.”
“Just a little.”
“Okay!”
I called out and quickly returned to my seat.
Father’s voice drifted from behind me.
“So-young, do we have any beer?”
“Yes. Should I open a bottle?”
“Sure, let’s share a glass.”
Now I focused more on the sounds coming from behind me than on the laptop screen.
After all, no matter how hard I stared at the screen, South Korea’s economy was plummeting. The KOSPI would fall to the 200s, countless companies would go bankrupt, and unemployment would surge.
Then Father’s voice came through.
“So-young, our Commercial Building Owner says he’s putting the commercial building up for sale.”
“Oh my, why?”
“He took out a loan from the bank and bought a commercial building in Gyeonggi Province last year, but he says it’s hard to pay the interest. He’s liquidating his current property and asked me if I wanted to buy the building.”
“How much is he asking for?”
Mother asked cautiously. Father’s sigh followed immediately after.
“He’s asking 100 million won, but the Real Estate Agent says he might negotiate down to 90 million. There are a lot of commercial buildings on the market as urgent sales right now, but we’ve just barely gotten settled here. Moving the restaurant would be complicated too, and there would be moving costs. If the new owner raises the rent, that would be difficult as well….”
“Everyone’s saying the economy is bad right now. Even today, sales dropped significantly. To buy a commercial building for 100 million in this situation, we’d need to get a loan. With sales declining, paying off a loan on top of everything else….”
Mother trailed off.
[Mother, Father! I have my savings account!]
I swallowed the words that had risen to my throat and continued listening.
“So-young, how much do we have saved up?”
“Last month, we hit 100 million won. Your income has been steady, and I get a monthly salary from SKJ Entertainment….”
“We just finished paying off the loan from when we opened the shopping complex last month….”
“Honey, there are a lot of urgent sales coming up. Should we wait a bit?”
“I promised to give them an answer by tomorrow morning. If I don’t respond, they said they’ll put it on the market right away….”
[This is my moment to step in.]
I pushed my desk chair back and walked toward Mother and Father, who were sharing a beer.
“Sung-guk, are you sleepy?”
Mother opened her arms as she looked at me.
I shook my head firmly.
“Sung-guk, are you hungry?”
I shook my head again.
Father looked at me with a puzzled expression this time.
“Sung-guk, what’s wrong?”
“Father!”
“Yes?”
“Father, I’ll buy that shopping complex.”
“Father, that shopping center. I’ll buy it.”

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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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