Episode 70: The Observers
At the same time, at the Export-Import Bank
A man who was taking a deep nap was snoring. With his legs propped up on the desk, he was sleeping blissfully. On the neatly organized desk, the nameplate reading “President of the Export-Import Bank” gleamed.
Just before the drool pooled in his suit was about to drop, the sound of a phone ringing came from somewhere.
The president of the bank, who woke up with a start to the ringing sound, reflexively answered the phone.
“Hello?”
“This is Won Jong-pyo.”
“Senior Executive Won Jong-pyo? What brings you here all of a sudden?”
Though he was half-asleep, that one sentence was enough to wake him up completely.
The bank president, who was startled, straightened his posture and answered the phone politely.
“Ah, President, yes… I’ve heard that it’s a bit difficult for small and medium-sized enterprises to issue letters of credit these days. It’s good to catch export fraudsters, but it would be problematic if it hinders the companies that are actually engaged in export and import. It’s a matter that the VIP is concerned about day and night.”
Won Jong-pyo explained gently, but the listener’s perspective was entirely different.
The bank president, who was listening to the lecture, nodded repeatedly while sweating profusely.
“Of course, it should be corrected properly.”
“Yes, especially natural dyes are not domestically produced. I’ve heard that the textile industry’s import route for dyes has been blocked, so please take a good look. Daese Trade is handling the import on behalf of others, and small and medium-sized enterprises must grow for the country to develop. Please consider their situation and show some leniency.”
“Yes, understood. I will correct it immediately.”
The president of the export-import bank sighed after hanging up the phone.
After a while, he turned the phone and said in a low voice,
“Secretary Kim, bring all the documents related to the letter of credit approval immediately.”
The president’s expression hardened as he read the documents brought by the secretary.
His face turned red and blue as he repeatedly loosened and tightened his tie out of frustration.
Eventually, after calming down, he immediately called the person in charge.
“Director Lim, tell him to come to my office right now.”
The director, who ran in due to the sudden call, stood at attention.
“Yes, sir. Did you call for me, President?”
The bank president didn’t even look at the director and threw the documents he was holding.
Director Lim, who carefully picked up the documents, cautiously asked,
“Did I make a mistake… Is there something you’re dissatisfied with?”
“There is. Director Lim, did you by any chance reject this person’s letter of credit?”
“What? What do you mean?”
Director Lim was dumbfounded by the sudden question.
There was an application for a letter of credit in the name of Daese Trade. The bank president spoke again.
“I’m talking about the letter of credit. You’re in charge of the letter of credit-related work, right? Then you should know.”
Director Lim, who instinctively sensed that there was a problem due to the sudden interrogation, instinctively avoided the answer.
“That’s true, but… The issuance of the letter of credit is reviewed by the relevant department. I only give the final approval when the paperwork comes up; I don’t get involved in the actual work.”
Hearing this, the bank president narrowed his eyes.
“Is that so? Then bring me the documents related to the export and import. I need to check what judgment the working-level staff made and whether there are any issues.”
“Why all of a sudden…”
When Director Lim hesitated, the bank president shouted.
“Are your ears clogged? Bring me the documents related to the letter of credit immediately. I need to see how poorly the review was done.”
“President, that’s… A misunderstanding.”
Director Lim was flustered by the president’s intense reaction. It was the first time he had seen the president, who usually only sucked up to his superiors and was only concerned about keeping his position, react so intensely.
Seeing Director Lim’s unsure actions, the bank president sighed.
“Hey, Director Lim. Do you think I’m a pushover because I’ve been lenient with you? Are you still taking bribes from Taeyang Group? Do you think I don’t know you’re pocketing kickbacks?”
“I’m sorry.”
Director Lim, who was now fully alert, bowed his head like a sinner.
After glaring at him for a while, the bank president ordered with a softened expression,
“Is ‘sorry’ all you have to say? Stop talking nonsense and immediately open a letter of credit for Daese Trade. You never know where the fallout will end up if you mess this up. The VIP is interested in this matter, so stop messing around and do it now!”
“Yes, I will correct it immediately.”
Director Lim withdrew without making a sound. Seeing this, the bank president muttered in a disapproving tone,
“That foolish guy, should I just fire him this time?”
But the bank president quickly calmed his anger.
Touching it recklessly would only make things worse.
Looking at the documents again, the bank president thought to himself.
“Lee Chang-jin from Daese Trade… I must remember this name.”
The bank president had a feeling.
He had a premonition that this would be a big client in the future.
The power of influence was indeed great. Less than a day after receiving the Saemaeul Award, Lee Chang-jin’s import letter of credit was approved. The branch manager of the bank personally informed him of the opening of the letter of credit and brought a gift as an apology.
“I’m sorry for the inconvenience, President Lee Chang-jin.”
“It’s okay. But what’s this…”
“No, I must take special care to ensure this doesn’t happen again in the future.”
The branch manager, who had brought a gift, apologized politely.
Towels, a desk clock, and even a fountain pen… Seeing the repeatedly apologizing figure, Jung Ho-sung chuckled.
“Wow, having connections is really nice. Does it work out like this? President Lee Chang-jin, how do you feel about becoming a person of influence overnight?”
“Don’t tease me. Now I even scare myself.”
“Anyway, it’s surprising that Senior Executive Won helped us so willingly. It’s unexpected… That person never accepts requests.”
“Yeah, it seems he viewed us favorably.”
“Do your best. Having support isn’t a bad thing.”
Although they say luck is 70% and effort is 30%, this incident was even more dramatic.
Seeing something that couldn’t be achieved no matter how hard you try pass through so easily, he could feel the times they were living in.
‘I’ll have to pay more attention to my relationship with the political world from now on.’
“Keep your friends close and your enemies closer.” As long as he maintained a proper distance, there was nothing bad about it. Lee Chang-jin was relieved that the matter was settled properly and turned his attention back to Jung Ho-sung.
“For now, it’s fortunate that the letter of credit issue is resolved. How’s the dye sales going?”
“It’s much better than expected. Designers are reacting positively; they were completely thrilled. They’re all clamoring to sign contracts with us. Ah, I also distributed samples widely in Dongdaemun.”
Once the letter of credit was opened, Lee Chang-jin distributed a second batch of samples. The companies that received the samples all showed positive responses.
“Certainly, the quality is good, and the color is vibrant. The opacity is also top-notch.”
“It’s really good that it’s not irritating to the skin.”
“Yes, with this quality, I’d buy it even at twice the price.”
However, most of the merchants in the Dongdaemun clothing market were small-scale businesses unable to make bulk purchases.
To those who couldn’t hide their regret, Lee Chang-jin made a separate proposal.
“Then how about purchasing as a group? If you all chip in, I’ll take the order.”
“Oh, can we do that? That would be great for us.”
The first month’s transaction was a big hit. After deducting the cost and expenses, the monthly profit was over 20 million won. On the other hand, Taeyang Trading, which had been monopolizing the supply of natural dyes, was in a state of emergency due to the sudden drop in sales.
“What, the letter of credit was issued? Those damn bastards, what were the people I bribed doing?”
Nam Tae-kyung, who was enraged, immediately contacted the bank.
“What the hell happened? Didn’t you guarantee that the letter of credit wouldn’t be issued? Are you playing games with me?”
“Vice President Nam, please calm down. Orders came from BH. This was beyond my control. It was ordered from above, and there was nothing I could do.”
“What do you mean by that?”
“It was Senior Executive Won Jong-pyo who moved.”
“Senior Executive Won Jong-pyo? Why is the Blue House’s economic secretary involved with that guy?”
“I was also flabbergasted. I don’t know why, but it’s frustrating. Anyway, because of this incident, I’ve been marked by the higher-ups, so I have to lay low for a while. And please don’t contact me because of this incident. The Economic Planning Board’s special audit team is here, so I won’t be able to contact you for a while. I’ll reach out separately later. Goodbye.”
“Hey, wait. Director Lim, you bastard!!”
Unable to contain his anger, Nam Tae-kyung threw the phone in a fit of rage.
At that moment, he heard the ringing sound. It was the sound of notifying a contract termination.
The strategic planning office was in a funeral-like atmosphere due to the consecutive contract cancellations.
“Damn it!! These bastards? Secretary Yoon! Secretary Yoon!!”
“Yes. What is it?”
“Get me Cheongsimhwan right now!!”
Secretary Yoon promptly brought the Cheongsimhwan.
Breathing heavily, he chewed on the Cheongsimhwan to calm his anger.
“Lee Chang-jin, this commoner… Dares to challenge me?”
“Please calm down. Getting angry is not good for your health.”
“Do I look like I can calm down? Look at the situation now! And is Director Lim ignoring my calls?”
It was just when he was about to dial the phone again in anger.
The secretary, who had been watching from outside, entered with an apologetic expression.
“What? When did I tell you to come in?”
“Uh, Vice President, we received a call from the secretarial office. Chairman Nam is summoning you.”
“Father?”
Nam Tae-kyung’s expression hardened.
It was clear that his father was going to question him about this incident.
But there was no way to avoid it.
“Damn it…”
In the executive elevator going to the top floor of Taeyang Group, someone boarded next to Nam Tae-kyung, who had a grim expression.
It was his half-sister, Nam Joo-hee. Nam Joo-hee greeted him in surprise.
“Oh, Oppa. Long time no see. What brings you here?”
Reluctantly, Nam Tae-kyung answered.
“Oh, long time no see. I have a report to make to Father.”
“I’m on my way back from being summoned as well.”
“Oh, really?”
“Come on, are we strangers? Shouldn’t you at least ask how I’ve been? It’s been a month since we last saw each other.”
“Okay, fine. How have you been?”
“So-so. These days, the duty-free shop’s performance has been soaring, so the atmosphere is good. I heard there are problems with your trading division. I heard the dye sales plummeted. It must be frustrating… Couldn’t you have handled it better? You’re definitely going to get scolded when you go up.”
Nam Tae-kyung’s expression twisted again.
“Are you making fun of me because you’re doing a little better?”
Nam Joo-hee smiled softly at his words.
“No, of course not. I’m just concerned about you. If you need help, I can assist you. Actually, this Lee Chang-jin guy was my classmate. We’re somewhat acquainted; should I ask him to yield a bit? He might listen if I ask… Our school’s alumni network is pretty tight-knit, unlike those who studied abroad.”
It was a jab at Nam Tae-kyung, who had gone abroad to study as a form of escape.
Knowing her intent, Nam Tae-kyung responded irritably.
“I don’t need your help. I can handle it on my own.”
“Well, if you say so. Take care. I’m off.”
Nam Tae-kyung ground his teeth as he watched Nam Joo-hee disappear briskly.
“That brat. Acting all superior just because she runs a few tiny duty-free shops…”
Taking a deep breath, Nam Tae-kyung calmed his rising anger. Standing in front of the chairman’s office door, he suddenly felt nervous.
After fixing his expression, Nam Tae-kyung opened the door and saw a familiar face.
A man with black hair who looked quite mature was standing by the window.
Nam Tae-gon, the current chairman of Taeyang Group and the person who had built the top conglomerate. After inheriting wealth from his grandfather Nam Tae-yang during the Japanese occupation, he expanded it after liberation through expropriation and grew it into a large corporation by investing in the three-white industry.
Nam Tae-kyung, who feared nothing, was different in front of his father. He both respected and feared his father. He always found his father intimidating.
He couldn’t help but feel intimidated whenever he saw his father.
Taking a deep breath, Nam Tae-kyung greeted his father, who was looking out the window with his hands behind his back, with utmost respect.
“Father, you called for me?”
“Yes, did you bring the monthly sales report?”
“Yes, it’s right here.”
Nam Tae-kyung respectfully handed over the documents and stood at attention.
Nam Tae-gon handed the documents to his secretary.
“So, I heard that dye sales have been poor. What’s the reason?”
“Father, it’s a temporary situation. I am confident it’ll recover soon.”
Nam Tae-gon’s eyebrows raised as Nam Tae-kyung squirmed under his piercing gaze.
“Recover? You’ve lost more than half of the market share, and you call that temporary? What a pathetic excuse. Can you bet your position on that statement?”
“Th-that is…”
“No excuses. Step down from the dye business immediately.”
“Father, please give me a chance. If you give me a little time, I can restore everything.”
Nam Tae-gon chuckled at his son’s plea, looking amused.
“How? By blocking the letter of credit again? Do you plan to make an enemy of the current government over some dye?”
“How did you…”
“Do you think I’m a fool? Foolish boy, why do you waste your time on such pointless things?”
“Father, please give me one more chance. I can fix it.”
“Clicking his tongue, Nam Tae-gon shook his head.”
“Fixing the barn after losing the cow? The damage is done. I’m leaving that to Joo-hee.”
“F-Father! That’s…”
Nam Tae-gon frowned at his son’s desperate protests.
“Hey, don’t raise your voice in front of your father. Where did you learn such disrespect?”
“Sorry, Father.”
“Don’t let people say you’re worse than your sister. Aren’t you ashamed as her elder brother? Joo-hee has been doing well recently, so watch and learn from her. From tomorrow, the dye business will be handed over to Joo-hee. Understood?”
“Yes… Understood.”
Nam Tae-kyung trembled with anger. The humiliation made his blood boil.
But he couldn’t act recklessly in front of his father.
Clenching his teeth, Nam Tae-kyung stood silently as his father spoke.
“What are you waiting for? Go back to work.”
With his lips tightly pressed together, Nam Tae-kyung retreated like a defeated soldier.
Nam Tae-gon clicked his tongue and turned to his attendant secretary.
“He’s hopeless, always scheming. Secretary Kim, did you roughly understand the situation?”
“Yes. There seems to be a definite connection. I also found out that he has ties with Director Sung Gong-cheol from the Central Intelligence Agency.”
“The CIA, huh? That’s a basic level of backing. Judging by his resume, he doesn’t seem to be completely without foundation.”
“Oh, and there’s one peculiar thing. It seems Jin Tae-chun is keeping an eye on him. He appears to be in a closer relationship with Jin Seon-ah than expected.”
Nam Tae-gon looked startled and turned to him.
“What? Jin Tae-chun? Could he be a hidden son or something?”
“That I don’t know. However, he regularly contacts that daughter. They say it’s under the pretext of a board meeting, but it seems they have a significant relationship and are not just ordinary acquaintances.”
“Could it be that Daese Industry is actually set up by Jin Tae-chun, with a frontman to make it look good?”
“Hmm… I don’t know. For a small to medium-sized enterprise, its growth is too fast, and in many ways, it’s a mystery.”
Chairman Nam Tae-gon, who was resting his chin on his hand, nodded in agreement.
“Indeed, I thought the young guy was growing too quickly. But how did he win over Won Jong-pyo? Someone like Won Jong-pyo, who is known for his integrity, showing such favoritism…”
“I don’t know that either. They say they had a private meeting, but what was discussed… I couldn’t find out.”
“Keep your antennas up and find out more details. Report any peculiarities immediately.”
“Understood.”
Watching the secretary leave, Nam Tae-gon showed an intrigued expression.
“Jin Tae-chun, you sly old fox. Are you planning to come out into the open? This could get interesting.”
It was a moment when misunderstandings deepened late into the night.
- To be continued in Episode 71 -
