Chapter 32. Don’t I Have the Right, Too? 2.
Noh Hyeoncheol sat at his desk, deep in thought.
After receiving a call from the director of public relations strategy at the Sim Haegyun Group, he had immediately convened an executive meeting.
He knew there was something lurking beneath the phenomenon that had surfaced, and he wanted to prepare for any unforeseen developments.
However, he did not tell anyone that the owner of the Donghae Ilbo was involved.
If something like that leaked, it could instead invite a backlash.
Once the meeting began, various opinions were put forward, but in the end, they converged around the argument of Vice President Ha Taeseong, whose voice carried the loudest.
Cleanly dispose of Mancheon Passenger Transport!
The argument was that if they sold off Mancheon Passenger Transport, which stood at the center of the “large corporation tyranny” frame, the problem would be solved at once.
It wasn’t wrong.
There was no easier or faster method than that.
In the end, Noh Hyeoncheol’s final decision was to prepare so that they could sell it at any time, then, if the situation became urgent, make a swift decision and sell.
In other words, prepare, but put it on hold for now.
Unlike usual, Noh Hyeoncheol’s decision was not clean-cut and seemed somehow hesitant, which made the executives wonder, but there was a clear reason he had no choice.
Why had the owner of the Donghae Ilbo gotten involved in something like this?
Without knowing that, he could not move rashly.
After thinking for a long while with his chin buried in his clasped hands, Noh Hyeoncheol took out his cellphone and made a call.
Jang Sehyun, the owner of the Donghae Ilbo, who looked to be in his early forties, opened the front door of his home and came out.
He swept his gaze once over the garden, which looked desolate in winter, then moved toward the front gate along the path to one side.
When he had crossed about half of the rather large garden, his cellphone rang.
Seeing the screen, he lifted the corner of his mouth and let out a snort of laughter.
“Sigh... That sly old fox. How did he find out again?”
He pressed the call button and put the phone to his ear.
“Good day, President Noh. To what do I owe this call?”
[Indeed. In any case, it has been a while, Owner Jang. I’m calling because I have something urgent to discuss. Could we meet now?]
“Now, you say? Hah, what could be so urgent... I’ll have to check my schedule. One moment.”
Jang Sehyun took out a cigarette, lit it, and sat down on a garden bench.
But instead of checking his schedule, he merely crossed his legs and leisurely smoked.
After a short while, Noh Hyeoncheol’s voice came through, as if he could not wait any longer.
[Owner Jang? Owner Jang. Hello?]
“Ah, yes. Go ahead.”
[This is a fairly important matter, so even if you are busy, I would appreciate it if you could spare some time.]
A vulgar, mean smile spread across Jang Sehyun’s face as he held the cigarette between his lips.
“Ah, is that so? If you insist, I suppose I should meet you. After all, you are none other than President Noh Hyeoncheol of Mancheon Corporation.”
[Thank you.]
Jang Sehyun snorted and spoke mockingly.
“But what should we do? I have an important meeting, so right now is absolutely impossible. If I push it, lunch might work. Even at the earliest, I don’t think I can do before one.”
[...Understood. Then let us meet at Seongilgwan at one.]
Seeing how he couldn’t budge an inch, it seemed he really was on pins and needles.
“Yes, I’ll see you then. Goodbye.”
After hanging up, Jang Sehyun blew out a ring of cigarette smoke and flicked the butt away with his index finger.
“Hoo...”
How did that old man find out...?
Well, it wasn’t important.
In the end, he was just crawling over on his own to be taken for a sucker.
‘No matter how powerful and smart you people are, what can you do? The foolish masses won’t move the way you want them to.’
Rising from his seat, he hummed as he walked across the desolate garden.
* * *
It was an ordinary day like any other.
As always, Hyeonu came to work early and studied TOEIC, then, when work hours began, greeted everyone with, “Bad morning.”
Amid the usual work, only Kim Byeongjun was noticeably tense.
Public opinion mixed with criticism was growing harsher by the day.
The atmosphere felt as if a boycott of Mancheon really might break out.
In the middle of it all, he was searching for an opening he could intervene in, with the eyes of a beast stalking its prey.
However, there was no change in any movement.
There was only the continued assault of public opinion.
If anything had changed slightly, it was that politics had joined in as well.
Perhaps conscious of public opinion, members of the National Assembly began to appear one by one, saying they would review laws related to large corporation tyranny or criticizing the high-handed behavior of conglomerates.
As always, it was the same sequence.
* * *
Hyeonu brought the copies over and held them out to Yang Gyeonghun.
“Here they are, Team Leader.”
“Oh, right. Good work.”
He bowed his head and was returning to his seat when Song Gaeun’s voice reached him.
“Hyeonu.”
“Yes?”
Song Gaeun pointed to a large box.
It was a sample from Cartibajac, the new overseas luxury brand she was in charge of.
“Sorry, but could you take this to the sample room for me?”
“Yes, Senior Associate.”
Hyeonu slung the rather heavy, large box over his shoulder and left the office.
As he carried the box around the corridor, he saw two men with briefcases walking toward him, talking to each other.
When they drew close enough for their voices to be heard, one man’s face softened and distorted like heated wax.
“The situation is better than expected. Couldn’t we cut the price even more?”
[With this kind of atmosphere, we might really be able to take Mancheon Passenger Transport for nothing.]
Hyeonu, who had been walking with the box, stopped in his tracks.
It was because he was surprised, and because if he simply passed by them, he would not be able to see their faces and hear their inner thoughts.
“Once we get our hands on it, it’s a business that lays golden eggs. No need to get too greedy over small change. There’s greater meaning in making this deal happen, so just proceed according to plan. Don’t get any other ideas.”
[Ma Gyeongtaek worked on this personally. Imagine if it went wrong. How would we handle that? He even called this morning, making a fuss that the government announcement was imminent.]
As they passed by, Hyeonu’s head turned after them.
It was to look at the words printed on the document envelope tucked under one of their arms.
‘BLACK EAGLE INVESTMENT’
After walking a little farther, the place where they stopped was the Financial Planning Office.
Hyeonu, visible only as a shadow against the backlight, watched them disappear through the door, then turned and walked away.
After putting the box in the sample room, he walked back toward the office and recalled what they had said.
They could take Mancheon Passenger Transport for nothing.
Ma Gyeongtaek had worked on it personally.
And the entity acquiring Mancheon Passenger Transport was Black Eagle Investment.
Judging from the word “Investment,” Black Eagle seemed to be an investment company.
Were they trying to take over Mancheon Passenger Transport through an investment company?
Now he understood why they had framed Mancheon Passenger Transport, a socially friendly company, as an icon of large corporation tyranny.
As Kim Byeongjun had said yesterday, it was a deception tactic.
Their goal was to pressure Mancheon Passenger Transport into being sold through manipulation of public opinion, then acquire it at a bargain price.
But there was one question.
Why were they trying to get their hands on Mancheon Passenger Transport?
The answer could probably be found with Ma Gyeongtaek.
‘If he’s the Ma Gyeongtaek I know...’
Thinking this, Hyeonu moved his feet.
* * *
Noh Hyeoncheol had arrived first and was waiting in a private room at the upscale Korean restaurant where they had agreed to meet.
Though fifteen minutes had already passed since the appointed time, Jang Sehyun had not appeared, nor had he contacted him.
He was coming late on purpose to make him stew.
He had expected as much. An arrogant, slippery bastard...
The man was the third-generation owner of Donghae Ilbo, the country’s top newspaper.
Perhaps because he had been raised like a prince since childhood, he was unbearably arrogant.
But there was no way to deal with him.
In the Republic of Korea, there was no power greater than the power of the press.
And on top of that, the bastard was smart.
He had plenty of nerve, too.
He also had a vulgar side, so no matter what he did, he felt no hesitation.
Ironically, thanks to that personality of his, he was not that bad to deal with.
When making a deal, there was no need to read the room, and if you gave him something, he would respond in kind.
The sliding door opened, and at last the man came in.
“You arrived first, President No. I tried to come quickly, but I was a few minutes late.”
“Not at all. Please, have a seat.”
After pouring a cup each from the white porcelain flask, Jang Sehyeon spoke first.
“You were looking for me in such a hurry. What is this about?”
“No matter how I think about it, Mancheon and Donghae Ilbo have never been tied together by any ill-fated relationship, and Chairman Jang is not someone who acts without meaning either…”
No Hyeoncheol looked steadily into his eyes and asked quietly.
“Did someone ask you to do this?”
Jang Sehyeon did not show it, but he was more than a little surprised that No Hyeoncheol had come in so bluntly without any preamble.
And the direction of his question was right on the mark.
‘Keh, as expected of No Hyeoncheol… He really is different.’
“I’m not sure what you mean. I’m not the sort of person who goes around taking requests from others.”
“Then I’ll ask again. What did they say they would do for you?”
The smile that had been on Jang Sehyeon’s face slowly disappeared.
He met No Hyeoncheol’s eyes for a moment, took a sip of liquor, then spoke.
“Are you saying you’ll do it in their place, President No? Well, assuming, just hypothetically, that there was such a thing.”
To him, who was slyly trying to keep a foot in both camps, No Hyeoncheol spoke directly once more.
Because with public opinion boiling over as it was, time was not on Mancheon’s side.
“If you judge it to be something I can do, then tell me. If not, don’t. In that case, I’ll get up and leave cleanly.”
Jang Sehyeon gave a short laugh and took another sip of liquor.
His lips, dampened by the alcohol, became moist.
“You know the details of the Broadcasting and Communications Act amendment our chief editorial writer has written about often, don’t you?”
When No Hyeoncheol gave a slight nod with a look that said he knew, he continued.
“It looks like that bill will be put to the plenary session this time. Get just six opposition lawmakers to vote in favor. Then I think things will be nice and clean.”
It was possible.
Because he had quite a few opposition lawmakers whom he had managed for a long time and turned into puppets.
Now, if he only said “yes,” he would be able to find out who was behind this affair.
But No Hyeoncheol simply rose from his seat.
“Unfortunately, that seems to be a condition I cannot fulfill for you.”
“What? Wait a moment. Um…”
“Then I’ll see you next time.”
Leaving the flustered man behind, he turned around.
As No Hyeoncheol opened the sliding door and walked away, he thought of Jang Sehyeon and gave a bitter smile at his slyness.
Jang Sehyeon, that bastard, had tried to eat too much at this table.
He did not know who it was, but in return for playing the media game, the bastard had received a proposal for the Broadcasting and Communications Act amendment.
Then, pretending that never happened, he had put the card of six opposition lawmakers on the table with this side.
He meant to receive from both sides, this side and that.
The more he thought about it, the more vulgar, base, and greedy the man seemed.
But No Hyeoncheol had no intention of being played by such a vulgar game.
Because he had roughly figured out who was behind this.
That was why he had simply gotten up.
Someone in a position to have the Broadcasting and Communications Act amendment proposed…
There was no one but a politician.
And either someone on the government side or a politician from the ruling party.
Only now did he get a rough estimate.
There was only one thing a politician wanted.
Money. Because the only thing they ever lacked was money.
In other words, resolving this Mancheon Passenger Transport matter would cost a great deal.
If that was the case, he could simply sell off one affiliate that did not even make money.
Just as Vice President Ha Taeseong and the other executives had denounced.
But it left a bad taste in his mouth.
Because he had not managed to uncover what kind of hidden hand was behind it.
He did not know what sort of bastard it was, but they must have had a clear intention.
In the private room, Jang Sehyeon emptied his glass with an indifferent expression and stood up.
“Ah, damn it. I could’ve gotten a free meal out of this, what a shame. They said that old man was no ordinary fellow, and they were right. That foxlike old geezer… Ah, shit. Just when things were getting good.”
* * *
As soon as Hyeonu entered the office, he searched for Black Eagle Investment.
It was a private equity fund.
The Korean branch of a rather infamous foreign hedge fund.
What he searched for next was Ma Gyeongtaek.
A senior lawmaker of the ruling party under the current administration, which was called the most corrupt government in history.
There were a great many articles about him.
-Assemblyman Ma Gyeongtaek, preparing for next year’s primary?
-Assemblyman Ma Gyeongtaek returns from visit to Europe. Future growth engine is eco-friendly business. Support for electric vehicles must be expanded.
-Assemblyman Ma Gyeongtaek meets with Seoul Mayor Kim Subeom and calls for expansion of electric vehicle infrastructure. The future lies in electric vehicles. Seoul must take the lead.
-Assemblyman Ma Gyeongtaek one step ahead in party leadership race. Emerges as next presidential contender.
Hyeonu’s gaze deepened as he read through the articles.
Because the picture of what had happened was forming in his head.
What Assemblyman Ma Gyeongtaek had consistently advocated was eco-friendly business and support for electric vehicles.
Yet he was preparing for the primary to be held next year, aiming for the presidency.
How would this connect to Mancheon Passenger Transport?
There had been a hint in what the men from Black Eagle Investment had said earlier.
[They called even this morning, making a huge fuss that the government announcement was imminent.]
There was only one answer.
The aging buses owned by Mancheon Passenger Transport.
What if a policy were promoted to convert such aging buses into electric buses?
What he was after was government subsidies.
In the operation Ma Gyeongtaek had set in motion, the media play was only the tip of the iceberg. The real operation had been the establishment of government policy.
Hyeonu immediately looked over the file Kim Byeongjun had given him, “Plan for Rationalizing the Management of Mancheon Passenger Transport.”
Mancheon Passenger Transport owned 1,278 buses.
About 75 percent of them were aging buses.
The price of an electric bus was roughly five hundred million won.
If they received government subsidies for just 70 percent of those and converted them into electric buses…
It was a jackpot.
A business that sucked up taxpayers’ money and devoured it for free.
A goose that laid golden eggs.
The idea was to procure from here the funds needed for the upcoming primary and presidential campaign.
A bitter taste lingered on the tip of his tongue.
If things continued as they were, Mancheon Passenger Transport would ultimately fall into Black Eagle Investment’s hands.
But the opponents were a heavyweight politician and a foreign private equity fund.
They were not opponents he could somehow tangle with.
Was there no way?
As Hyeonu sank into thought, one article suddenly caught his eye.
-Busan Passenger Transport, with 50 years of tradition, ultimately sold due to financial difficulties.
Hyeonu frowned, tilted his head, and began searching again.
And he uncovered two enormous facts.
* * *
After Ma Gyeongtaek hit his tee shot, he silently watched the ball fly.
“Nice shot.”
It was the voice of Martin Choi, CEO of Black Eagle Investment.
“You’re hitting well today.”
“Haha, it seems so. In life, there ought to be days like this.”
Without even giving a glance, Ma Gyeongtaek tossed his golf club to the caddie.
The caddie tried to catch it with quick steps, but in the end, missed it.
Ma Gyeongtaek and Martin Choi glanced over with dry expressions, then moved across the yellow, desolate fairway of winter.
Ma Gyeongtaek asked.
“So, what happened with Mancheon Passenger Transport?”
Martin Choi found Ma Gyeongtaek, who kept asking questions, a little tiresome.
He had even called in the morning.
Since the target was Mancheon, he seemed especially sensitive.
“I met with their vice president, and he says there shouldn’t be any real problems. I think we’re almost there now.”
“Hmm… once we swallow up Mancheon Passenger Transport, we’ve got it all, right?”
“Yes. Looking back, it’s been quite a struggle to get here. We created child funds and took over dozens of passenger transport companies, and now the only one left is Mancheon Passenger Transport.”
A look of reflection seemed to pass over Ma Gyeongtaek’s face as well.
“Hah… This may turn out to be the biggest project I’ve undertaken since entering politics. It would have been impossible without Black Eagle.”
“Not at all. We’re the ones who should be grateful, Assemblyman, because you were there. The headquarters in the U.S. is pleased as well, saying this is the biggest project since the IMF crisis. Once this matter is wrapped up properly, they’ll come by from headquarters to pay their respects.”
“There’s no need for them to come all the way here. It isn’t exactly nearby…”
“Of course they should pay their respects. This isn’t the end of our business, and there are far more projects ahead of us.”
“Heh heh heh, then I really must win next year’s primary, if only for Black Eagle’s sake.”
“And then you should run straight on to the presidency.”
Ma Gyeongtaek felt pleased just thinking about it.
For a man preparing for major elections ahead, money was desperately needed.
In the end, elections were battles of money.
When he had won his fourth term and was fighting for leadership within his faction, Martin Choi had approached him.
The Korean representative director of Black Eagle, a world-class hedge fund.
Black Eagle was infamous.
During the IMF crisis, it had bought up countless companies, torn them to pieces, sold only the choice parts to China, made enormous profits from real estate, and then fled as if it had nothing to do with it.
There had been tremendous public criticism of their misdeeds, but they had not so much as blinked.
A national foreign exchange crisis was the perfect place for them to throw a party, and it wasn’t as if they were the only ones feasting.
Everyone was feasting.
Once they had devoured everything, they could simply leave.
Twenty years passed like that, and hedge funds like Lone Star and Black Eagle came back in.
Drawn by the scent of what was said to be the most corrupt administration in history.
The person Black Eagle targeted was none other than Ma Gyeongtaek.
A man on a steep rise, full of lust for power.
To maintain power, one needed money, and a person in power who had once tasted money could never resist its temptation.
It wasn’t because they liked money.
It was because money was necessary to maintain the force of those who followed them.
Or else they had to bring them prey so that they could feed on money.
Like giving food to hunting dogs after the hunt was over…
In any case, Ma Gyeongtaek rose to the position of faction leader and tasted the money Black Eagle provided, and through it, he gained power.
Now all that remained was for him to win the primary, become president, and throw the greatest party since Dangun.
But no one could have known that Black Eagle’s ten-year grand plan and Ma Gyeongtaek’s dream would be thwarted so easily.
All because they had picked a fight with the wrong company employee—no, with a mere new hire.
Ma Gyeongtaek asked.
“This project is enormous in scale. If something goes wrong, there won’t be any effect reaching me, will there?”
“You worry far too much. How could it affect you, Assemblyman? There’s no link connecting you to us anywhere.”
“Heh heh heh, I only asked just in case.”
Ma Gyeongtaek and Martin Choi walked off across the desolate winter grass in search of a small ball.