Episode 178
“CEO Kim Min-sik of Joongang Investment Group, who is being investigated for stock manipulation, is being summoned to the prosecution’s office.”
A female reporter, standing in front of the camera, spoke in an excited tone.
“He’s suspected of orchestrating the IT market crash, and the prosecution has vowed to uncover the truth through a thorough investigation.”
She continued, then suddenly exclaimed as a car pulled up to the prosecution’s office and Kim Min-sik stepped out, “Kim Min-sik has just arrived!”
A swarm of reporters rushed towards him, shouting questions.
The reporter, struggling to make her voice heard, shouted, “CEO Kim Min-sik! Do you feel any responsibility for the countless victims of the IT market crash?!”
But her voice was drowned out by the other reporters.
Kim Min-sik, unfazed by the chaotic scene, smiled and said,
“I’ll take one question. I don’t want to be late for the investigation.”
The reporters shouted questions again.
The reporter, desperate, closed her eyes and shouted,
“Kim Min-sik!”
Everyone, including Kim Min-sik, turned to look at her.
“Wow, what a powerful voice. But shouldn’t you be using honorifics? Anyway, what’s your question?”
Her face flushed at the attention, but she asked with a determined expression, “Many people believe Joongang Investment Group, led by you, is responsible for the IT market crash! Do you admit it?”
Kim Min-sik was silent for a moment and then smiled. “My company?”
“Yes!”
“That’s a baseless rumor.”
“How can you prove it?”
He smirked. “The prosecution will prove it. My words will just sound like excuses for now. I’ll cooperate fully with the investigation. Excuse me.”
He walked towards the prosecution’s office, surrounded by his bodyguards, ignoring the reporters’ questions.
The reporter turned back to the camera. “We hope the truth behind this devastating incident will be revealed through the investigation. This is Kim Ji-eun reporting.”
Punish Joongang Investment Group!
They must be held accountable for destroying our nation’s future!
That was the public sentiment, and everyone was hoping the truth would be revealed through this investigation.
But the reality was far from their expectations.
“Hello, I’m Yoon So-in, the senior prosecutor in charge of this investigation.” The prosecutor, who should have been intimidating, greeted him with a friendly smile.
Kim Min-sik smiled back. “Nice to meet you. I’m Kim Min-sik.”
“Coffee? Tea? What would you like?”
“I’m fine, thank you.”
“I see. Hahaha.”
“So, what do I have to do?”
“Just wait here. I’d offer you the on-call room, but there are too many eyes watching.”
“Really?”
“Let me explain the procedure.” She took out a piece of paper and started writing. “We’ll question you for eight hours and then request an arrest warrant.”
“An arrest warrant?”
“Don’t worry, we’ll submit insufficient evidence, so the court will dismiss it. And then we’ll summon your executives. Do you have anyone in mind?” She was asking who the scapegoat would be.
“Senior Managing Director Kang Woo-seok of Daehoo Securities.”
“Kang Woo-seok… alright. We’ll make sure the warrants for the other executives are dismissed. And then it’s smooth sailing. We’ll seek a five-year sentence, but we’ll present weak evidence, so it’ll likely be dismissed.”
Her casual tone surprised him. “It sounds like you have a manual for this.”
She smiled. “It’s not our first time. This is nothing.”
This was the reality of Korea.
Money talks.
The prosecution, despite being an independent investigative agency, was influenced by politicians and chaebols. Their ultimate goal was either to enter politics or to become lawyers. They couldn’t afford to offend those who might become their future colleagues or clients.
Kim Min-sik chuckled. “That’s how the world works. It’s best to be average and unremarkable. You don’t want to stand out too much.”
“Exactly. You’ll just get targeted.”
“By the way, Prosecutor Yoon, do you like tteok (rice cakes)?” he asked pointedly.
Her eyes gleamed. “Who doesn’t like tteok?”
“I’ll send you a box. Give me your address. They’ll be freshly made, don’t worry.”
“Haha, you don’t have to do that.” She said it politely, but she took the note and wrote down her address.
“When are you raiding our offices?”
“Soon.”
“You can take everything from here to here,” Yong-seok, the head of security, said, pointing to some documents and computers. “But not that.”
The prosecutor nodded. “Alright.”
“Thank you for your cooperation.”
As Yong-seok left, a junior prosecutor muttered angrily, “This isn’t a raid…”
His senior said, “Quiet, these are orders from above.”
“Even so, senior, this is wrong! We’re prosecutors! We’re supposed to uphold the law!”
The senior looked at him. “You’re still wet behind the ears.”
“What?”
“You worked hard to become a prosecutor, didn’t you?”
“Of course, that’s why this is so frustrating.”
“Then just do your job.”
“But senior!”
“You’ll be demoted if you disobey. I heard these orders came from higher up than the chief prosecutor.”
“Higher up?”
“Yes, at least the Minister, maybe even…” He trailed off, and the junior prosecutor gulped. “The VIP…?”
“Shhh, don’t say that out loud. Think about your parents. They must be proud of their son, the prosecutor. Do you want to be demoted to a rural district and then forced to retire and become a small-time lawyer? Do you want to waste all your hard work?”
“Th-that’s…”
“I understand. I felt the same way in the beginning. But after seeing what happened to my colleagues who tried to be righteous, I changed my mind. I didn’t want to end up like them.” He continued in a calm voice, “Just turn a blind eye this once, and you’ll be fine. You want to be successful too, don’t you? Joongang Investment Group is a large corporation. They could be your clients one day. Understand?”
“…”
“Don’t try to be a hero. The world doesn’t work that way. It’s too big and too powerful for you to change. Just… accept it and move on.”
The junior prosecutor muttered, watching his senior walk away,
“Just accept it…?” He had endured years of hardship, studying for the bar exam, dreaming of becoming a righteous prosecutor, and this was the reality?
But his senior’s words about his parents resonated with him.
“Just this once… just this once…”
Kim Min-sik’s arrest warrant was dismissed due to insufficient evidence. The executives were summoned for questioning. Senior Managing Director Kang Woo-seok was arrested and indicted for embezzlement and tax evasion.
The public was outraged.
The mastermind, Kim Min-sik, had escaped the prosecution’s net, and Kang Woo-seok, the scapegoat, only received a five-year sentence.
The prosecution claimed they had insufficient evidence for stock manipulation and had to charge him with other crimes. And the news, for some reason, was providing detailed explanations of why the prosecution had no choice but to act this way.
The public wasn’t convinced, but they prayed that at least the five-year sentence would stick. They waited for Kang Woo-seok’s trial.
And the verdict, of course, was not guilty.
“Kang Woo-seok of Joongang Investment Group has been acquitted. The prosecution has appealed the verdict…”
I smirked, watching the news. “The puppets and their puppeteers, dancing to the same tune. How amusing.”
“Everything is going smoothly, Chairman,” Park Jong-bum said.
“Of course, the outcome is preordained. It’s just a show for the public.”
There would be a few more appeals, and he would be found guilty in the second trial. He would appeal again, and then magically receive a suspended sentence in the final trial. And as the legal battle dragged on, the public’s interest would fade, and the scandal would be forgotten.
“Kim Min-sik did well.”
He had made a deal with President Kim, securing favorable terms for our departure from Korea.
In exchange for our cooperation, the government would acquire Hanho Savings Bank and Daehoo Securities under the guise of financial consolidation, paying us above market value.
And Joongang Investment Corporation, the only remaining entity, would gradually transfer its funds overseas, apply for a bailout when it was empty, and then be absorbed by the government.
Joongang Investment Group, which had shaken the Korean market, would disappear, leaving the government to cover the losses.
“It’s not a complete loss for the government.”
Maru looked at me incredulously. “A complete loss, you say?”
“They’ve learned a valuable lesson about foreign investment. Thanks to me, they’ll be more careful in the future, won’t they? Hahaha.”
I wasn’t wrong. The government, having been burned by me, had established a new international finance agency and was developing strategies to regulate foreign investment.
Park Jong-bum clapped his hands. “You’ve given them a vaccine, Chairman. They might be feeling the side effects now, but they’ll be immune in the future.”
“Exactly.”
Maru looked at us with disgust. “You devils.”
“By the way, Chairman,” Park Jong-bum said, tapping on his calculator, “we’ll be making at least 14 trillion won, over $10 billion at the current exchange rate, after liquidating everything. What are you planning to do with it?”
I smirked. “The IT boom taught me that cash is king. If I can manipulate a relatively developed country like Korea, imagine how easy it would be to exploit developing countries.”
“D-don’t tell me…”
I stood up and spread my arms. “Baek In-hwi is going global! Korea is too small. There are so many opportunities out there! I went easy on Korea because it’s my home country, but I don’t have to be so lenient with other countries! Yes! Chinese speculative capital!”
I said with gleaming eyes, “Let’s spread Baek In-hwi’s infamy throughout the world.”
Park Jong-bum, also standing up, applauded enthusiastically. “As expected, Chairman. I’ll follow you to the ends of the earth.”
Maru also stood up. “Who else is going to stop your rampage, hyung? Congratulations on your success.”
I clenched my fist. “Let’s make Baek In-hwi a name that strikes fear into the hearts of everyone! But first…” I suddenly said, “We need to solidify Baek In-hwi’s identity as Chinese speculative capital.”
“What do you mean…?”
“The merger of Chunha Group and Haixin Group!”
Park Jong-bum, remembering my upcoming marriage to Wang Jin-hee, said, “Ah, that’s right. Your wedding is next month.”
“If we acquire Haixin Group and establish a strong base in China…”
Wang Jin-hee, who saw Baek In-hwi as a hidden weapon in her succession battle, would actively support him if she succeeded.
Everything was going according to plan.
I smiled. “It’s a new beginning.”