TOIGC 53

Chapter 53 …

How to Make Money Through Power (1)

“Didn’t you say you were planning to shape the surrounding area into something like a theme park? And I figured you just wanted to block any sketchy businesses from setting up shop near the department store.”

Choi Chulkyu’s guess was entirely reasonable, but Yoongi’s vision extended much further than that.

“What do you think is the biggest difference between someone with no money and someone with money?” “The difference between the broke and the wealthy…?”

True to his competence, Chulkyu instantly grasped the subtext hidden in Yoongi’s question.

“Someone with no money can barely scrape together enough cash just to buy a plot of land when investing in real estate, but someone with money can figure out beforehand which land is actually going to be developed.” “Right. Of course, wealthy people can still get scammed and fail, but at the very least, they can make much more stable investments than someone with nothing.” “Wait, but the department store we’re building now—you didn’t build it because you caught wind of a development tip beforehand, did you? Or did you manage to get your hands on that information way in advance?”

Just as Chulkyu was about to marvel at his nephew’s intelligence-gathering network, Yoongi smiled and shook his head.

“Not at all. I started buying up land during President Park’s administration. Even someone like me couldn’t possibly buy land while factoring in a regime change.”

Though it was mostly a lie, Chulkyu had no reason to doubt it. After all, trying to figure out which plots would be developed by contacting a low-level government contact before even turning ten years old was practically impossible.

In reality, Yoongi’s investment succeeded entirely because he knew the future. But strictly speaking, compared to other ways of making a fortune, he wasn’t really profiting off future information when it came to the Cheongcheon area. To cash in on the Cheongcheon area through future knowledge alone, he would have had to wait another twenty years for compensation through the Cheongcheon restoration project—pocket change compared to the other ventures he was pulling off.

Yoongi’s plan actually went one step—no, two steps—further.

“So you’re saying you didn’t invest based on leaked tips about Cheongcheon… Which means there’s a third option?” “Exactly. The third option isn’t about receiving information; it’s about becoming the entity that creates the information.” “Ah!”

Chulkyu slapped his knee in sudden realization. Instead of being an outsider getting second-hand tips to invest, you become the person who feeds information to the rest of the world.

Yet, a doubt quickly surfaced in Chulkyu’s mind.

“As close as we are with the JSD, we aren’t at the stage where we can push them around however we like, are we? Are you thinking of pumping massive investments into the JSD?”

At the sharp observation, Yoongi smiled again.

“That’s why there’s a fourth and final step.” “A fourth?” “Yes. Taking the information-maker entirely into our own hands!”

As Yoongi clenched his right fist tightly, Chulkyu felt an involuntary sensation—as if he were being sucked right into a black hole sitting in his nephew’s palm.

“Put the JSD in our hands…?”

Yoongi nodded.

“If you place the very people who generate information under your sphere of influence, you can run the safest business imaginable. Why? Because you’re riding in the exact same boat.” “But partnering with people in power usually means getting completely stripped of everything you own, doesn’t it? There’s a reason the business world routinely bribes politicians but draws the line at actual partnerships.”

Yoongi shook his head.

“That only happens when the power of the business world is solely rooted in mere cash. But what if a businessman is rooted directly in power itself?” “Ah, now that I think about it, you do have Brigadier General Colson and General Commander Guster on your side.”

Chulkyu began piecing together the grand blueprint forming in Yoongi’s mind.

“Are you planning to lease out land near the department store to people close to the JSD so they can run businesses there? As a sort of defensive shield?” “You basically hit the nail on the head.”

Rather than feeling enlightened, Chulkyu grew even more curious at Yoongi’s response.

“Basically?” “Yes. Not just regular businesses, but running ‘mini department stores.'” “Mini department stores? What’s that supposed to mean?”

Even Chulkyu couldn’t fathom what he meant. That was because Yoongi was attempting to introduce the concept of modern convenience stores back into the 1980s.

Of course, operating a standard convenience store wasn’t the ultimate goal. Yoongi’s true objective was generating profits by monopolizing distribution.

“Think about it carefully. Who is going to be the target demographic for the pricing of goods entering the department store we’re building right now?” “Weren’t you targeting US Forces Korea?” “Right. But that alone isn’t enough.” “Not enough?” “Even if you combine all the US troops and their families in Korea, it only comes out to about forty thousand people. Would we spend an astronomical amount of money building a department store just to cater to a tiny pool of forty thousand?” “You really think miles ahead of everyone else…”

Chulkyu admitted to himself that even if he had competed against Yoongi based purely on raw talent, he still would have lost. He had only considered the purchasing power of the US military and stopped there, whereas his nephew had already seen straight through the absolute ceiling of that market.

“I said it’s a department store for US soldiers, not one exclusively for them. We’re going to set the entry requirements for our department store at the field-grade officer level or higher for commissioned officers, and twenty years of continuous service for non-commissioned officers.” “We’ll need to coordinate that carefully with the JSD.” “I doubt it’ll be an issue. If they’re accompanied by someone qualified, lower ranks will likely be allowed entry as well.” “Wait, but what you’re talking about doesn’t sound like it’s meant for just soldiers at all.”

Chulkyu had picked up on the underlying intent yet again.

“Exactly. The main department store will sell luxury goods—and I mean luxury goods tailored for the chaebols. Of course, the sales strategy for those luxury items only has an indirect connection to the military, so I’ll explain that part later.”

Yoongi deliberately paused for a moment to let suspense build before continuing.

“The mini department stores will be the true source of stable, steady income. The value of the inventory we place in the main department store versus the mini department stores will differ by a distinct tier.” “Are you saying that if the main department store handles high-end and mainstream goods, the mini department stores will handle mainstream and entry-level items?” “Spot on. We’ll be doing business targeting ordinary citizens who can’t set foot inside the main department store. And there’s one more thing.” “There’s more?”

Yoongi wore a deceptively wicked smile.

“Some of these mini department stores will be run by influential retired military officers or members of their families. Buying goods from those locations will essentially mean forging personal connections with those military figures.” “Ah! In other words, you’re planning to create a department store that functions like an exclusive salon…!” “Bingo. That’s precisely why we built ties with the JSD in the first place.”

Chulkyu mentally copied Yoongi’s grand blueprint into his own head.

A main department store targeting American soldiers and chaebols, mini department stores targeting commoners, and a built-in safety measure ensuring we never cross paths with the ruling powers. What an astonishing level of foresight—how on earth does anyone come up with a plan like this?

Chulkyu was thoroughly impressed, but Yoongi’s master plan didn’t even end there.

Telling him any more right now would just be too early.

Advanced industries like electronics and chemicals were also sketched out in Yoongi’s ultimate blueprint, but those sectors still required more time before they could be set into motion.

“Ah, so it turns out civilians—or at least the Korean military—aren’t completely barred from entering that department store?”

Because the JSD had learned a great deal about Chulkyu’s department store project while assisting with matters related to Oh Joongsun, their conversation flowed smoothly.

“Of course not. Would it make any sense for the American military to take first place in the Republic of Korea? Naturally, our own Republic of Korea Armed Forces must come first.”

From the perspective of a career soldier, there was music to the JSD’s ears, and a bright smile spread across his face.

“Even if it had been exclusively for the US military, we wouldn’t have had much room to complain, but hearing that you hold such a perspective makes me genuinely pleased.” “However, since the department store itself aims for ‘high-end’ quality, we do intend to set minimum eligibility standards. That’s actually why I asked to see you today.” “Me?”

It was December 1980. By July of the following year, the JSD would become the Chief of the Presidential Security Service and the second most powerful man in the country, which was why Chulkyu had sought him out now—though to the JSD himself, that future still felt somewhat distant.

“Yes. Who among the ROK military officials I know possesses more influence than Colonel JSD? Naturally, this is a discussion that has to be had with you.” “What kind of influence could a man like me possibly have?”

Despite saying that, a wide grin refused to leave the JSD’s face.

“If you ask me, a major promotion is right around the corner for you. Am I off base?”

Struck by Chulkyu’s slightly flippant yet deeply familiar tone, the JSD beamed with delight, though he managed to feign a touch of awkwardness.

“This is strictly between us, but it is true that I’ll likely be shifting positions to become the Chief of the Presidential Security Service before long.” “What wonderful news… Congratulations!”

Watching Chulkyu celebrate as if it were his own personal victory, the JSD rubbed his nose and chuckled.

“There’s no need to make such a fuss over it. Honestly, I’d prefer to remain a soldier through and through, but His Excellency’s will is so unyielding… This hasn’t been made public yet, mind you, so I’m only sharing it with you as a special courtesy, President Choi.” “I’m entirely overwhelmed by such special treatment.” “Special treatment? I’m always receiving plenty of help from you regarding my son’s education anyway.”

Thinking of his son’s improving academic performance, the JSD couldn’t hide the radiant smile breaking across his face.

“Anyway, what are these minimum standards you mentioned? While I can’t unilaterally implement them on my own authority, if you lay them out for me, I can talk it over with the higher-ups and see how we can assist.”

Encouraged by the JSD’s receptive attitude, Chulkyu decided it was time to dive into the main agenda.

“It’s nothing complicated. We’re planning to set the entry criteria for ROK military personnel at twenty years of service for NCOs, and field-grade officer status or higher for commissioned officers. What do your thoughts lie?” “Hmm… junior officers and non-commissioned officers with under twenty years might grumble a bit, but it shouldn’t be unreasonable enough to cause a major uproar.”

Catching the JSD’s analytical pause, Chulkyu immediately tossed out the carrot.

“Of course, if they are accompanied by a service member who meets those criteria, entry will be permitted even if they fall short of the standard themselves. How does that sound?”

The JSD made a rapid mental calculation.

Ho… if that’s how it works, it hands the upper ranks a brand-new tool to keep their subordinates in line… No reason to say no to that.

The JSD nodded without hesitation.

“In that case, maintaining discipline shouldn’t be a problem at all. Field-grade officers can be verified by their insignia and NCOs by their service ribbons, so they’d essentially need to enter in uniform. Otherwise, they’d simply carry their military identification cards.” “Yes, we plan to apply that standard universally to both the US and Korean militaries.” “Understood.” “And one more thing—I’m only mentioning this separately because I hope to forge an even closer relationship with you, Colonel JSD…”

Sensing that the conversation was shifting toward private business matters, the JSD tuned in with rapt attention.

“Truth be told, all the land surrounding the department store—including the store itself—belongs entirely to my nephew, Yoongi.” “Pardon? Is that true?”

Noting the JSD’s genuine surprise, Chulkyu nodded.

“Yes. It’s a fact you could easily verify if you looked into it, so I have no reason to lie. And while Ryu Geuntae is listed as the president of the department store on paper, one hundred percent of the equity shares belong to Yoongi.” “Are you telling me this entire enterprise was planned by Yoongi?”

Chulkyu shook his head right away.

“Oh, come on, how could that be? The foundational plans were spearheaded by my father alongside my older brother, who is Yoongi’s father. We simply utilized this structure to preemptively eliminate any inheritance complications once the business takes off.” “Then, President Choi, you are…”

The JSD almost let the term ‘figurehead president’ slip, but caught himself just in time to avoid committing a grave social blunder.

“I’m certainly not a figurehead. I’m set to receive a very handsome cut of my own. But anyway, the point of what I’m telling you isn’t about who owns the land.”

With that neat pivot, Chulkyu successfully glided past the aspect of the venture the JSD was most likely to investigate and probe into later.

“That’s fair enough. So, what is it you’d like to discuss…?”

Watching the curious JSD, Chulkyu offered a sly, knowing smile.

“How would you feel about having your close confidantes, their wives, or your siblings run a business venture that incurs absolutely zero rental fees?”

The whisper of the tempter slipped smoothly into the JSD’s ear.

Follow-up Question: Would you like to delve into the business ventures that the JSD’s circle sets up, or see how Yoongi handles the next phase of his master plan?