CH81 - Serious Issue

I received a call from Yuri after a long time.

[Did you take a break from school again?]

"Yeah."

When I first came to the United States, I thought I could finish work and go back in a month or two. However, things got complicated with the U.S. presidential election.

Originally, I planned to invest sequentially, but somehow it grew to a scale of 2 billion dollars.

As I dealt with work, my stay in the U.S. kept extending, and I couldn't return even when the second semester started.

Yuri said petulantly,

[What's this? If that was the case, you should have told me beforehand.]

I chuckled and said,

"I didn't expect it to turn out like this either."

[What exactly are you doing in the U.S.?] she asked.

"Just, you know…"

I couldn't bring myself to tell her as it might be shocking.

[When are you coming back to Korea?] she asked.

"I'll be back in a few days."

I had entered on a tourist visa, and almost 90 days of the stay period had passed. While there were ways to extend, since I had already made a flight reservation to Korea, there was no point.

[When you come back to Korea, make sure to contact me, okay?] she said.

"Okay."

After ending the call, I bought coffee at Starbucks and went back to the hotel. I handed the coffee to Ellie.

"It's a double shot Americano."

"Thank you."

While sipping the coffee, Ellie said,

"When stressed because of work, all I have are coffee and wrinkles."

Even though she said that, her face was smooth without a wrinkle. Beyond just beauty, her face exuded vitality, which was charming.

Henry was looking this way, his face turning red.

"Have some coffee."

"Oh! Thank you."

As I handed him the coffee, Henry cleared his throat unnecessarily and turned his head the other way.

Does he really like Ellie?

Taekgyu picked up a pineapple smoothie.

"It's strange. I thought life would get easier as I made more money, but why do I feel busier than ever?"

"I know what you mean."

I went back to school thinking the same, only to drop out again after just one semester. I'm not sure if I'll ever graduate at this rate. As I sighed internally, a message came through.

[Contact me immediately at this number. Preferably using a US phone. Do not use your phone under any circumstances. ?

-SY]

"What's this? SY, could it be Sangyeop?"

Why ask to contact from a different phone?

I had a bad feeling.

I turned to Henry.

"Can I borrow your phone for a moment?"

"Here you go."

Taking Henry's phone, I made the call. After a few rings, the call connected.

"Is this the senior?"

"Yes, it's me."

"What's this number for?"

"It's a temporary phone registered under someone else's name. Contact us here for a while. Do not use your own phone, neither you nor Taekgyu. There's a chance it might be wiretapped."

"huh?"

What kind of talk is this?

Judging by the seriousness in his voice, it doesn't seem like you're joking.

"What's going on?"

[Just had a raid from the prosecutors and tax office at K Company.]

It sounded so ridiculous that I thought it was a joke for a moment.

"Oh, a raid?"

[It's not just that. It seems like they've been conducting surveillance from the National Intelligence Service for quite some time.]

"What are you talking about?"

[I've been completely investigated, from call logs to financial transactions. Not just the company, but all registered employees are under surveillance. You guys must have been investigated as well.]

I exclaimed.

"What on earth are you saying?"

Senior Sangyeop explained the situation.

K Company, which had outsourced its operations to OTK Company, was in chaos. Everyone was working without even having had lunch properly when suddenly, the prosecutors and tax office showed up.

The prosecutor handed the search and seizure warrant issued by the court to the bewildered senior Sangyeop.

Since they had the official warrant, there was no way to stop them. They unpacked the boxes they had prepared and swept through the office, taking every document, hard drive, calendar, and notepad without leaving a single piece of paper behind.

"What's the reason for all this?"

[Violations of the Foreign Exchange Management Act, Financial Transactions Act, and so on. There are so many charges that it's hard to keep track.]

[They even added tax evasion to the list.]

"Tax evasion?"

[I received a report, and a special tax investigation was launched.]

It's highly unusual for a company that hasn't even been established for two years to undergo a tax investigation.

Companies that diligently pay their taxes like K Company are rare. They've invested in startups that haven't made profits yet, and for any profits realized, they've paid all due taxes.

But why would they undergo a tax investigation?

[I am in a situation where I need to go to the prosecutor's office right away and undergo an investigation. It seems like I won't be able to focus on work for a while.]

"Well…"

In Korea, there are four major institutions of power referred to, namely the National Intelligence Service, the Prosecution Service, the Police Agency, and the National Tax Service. Among them, three have turned their swords towards K Company at the same time!

This can't be a coincidence. It was clear that some powerful force was at play behind the scenes.

Senior Sangyeop calmed down and said,

[One fortunate thing is that most of the important data is stored in the cloud.]

The only people who can access it are me, Taekgyu, Hyunjoo, and Senior Sangyeop. Since the server is located abroad, seizure without proper procedure is impossible.

The problem lies in the stolen data. Just by confirming that, the relationship between K Company and OTK Company, as well as our identities, will all be revealed.

Why target K Company? K Company hasn't done anything to challenge the authority.

Then…?

[It seems like they're targeting OTK Company.]

"That seems likely."

I agree with their thoughts.

[I'll try to find out as much as possible about what's going on.]

"Take care of yourself. Contact me immediately if anything happens."

[Got it.]

I hung up the phone.

Everyone stopped what they were doing and stared at me.

Hyunjoo set down the documents and asked,

"What's going on?"

I looked around at everyone and said,

"We have a serious issue."

***

Everyone who heard what I said couldn't say a word, their faces frozen in shock.

After a moment, Henry cautiously asked, "A search and seizure without any evidence. Is that possible?"

Taekgyu nodded and said, "It's possible in Korea."

He thought there might be some constraints, but the situation that unfolded was much more serious than expected.

Hyunjoo crossed her arms and said, "The National Intelligence Service first investigated K Company, and in that process, their relationship with OTK Company was exposed. That's why they immediately moved the prosecution and the tax authorities against K Company."

I had the same thought.

Still, there was something I didn't understand.

"Why so quickly… and at the government level?"

Business and politics have always been intertwined. Especially this administration has shown a strong pro-business and pro-conglomerate tendency.

Even so, isn't it strange to conduct a search and seizure without any concrete evidence?

After a long silence, Hyunjoo finally spoke up.

"It seems like that story is true."

Taekgyu asked, "What story?"

Hyunjoo replied shortly, "PAS." I immediately understood.

"Ah!"

Confused, Taekgyu asked, "What's PAS?"

"It's a company that produces plastic components and airbags for cars."

"But why does that matter?"

"It's related to the president."

Taekgyu, as well as Henry and Ellie, did not know about PAS, so Hyunjoo explained it to them.

"To understand the story accurately, we need to go back to Eunsung Group."

The predecessor of Eunsung Cha Group is Eunsung Group.

Eunsung Group is a huge conglomerate founded from scratch by Chairman Han Young-joo, with major subsidiaries such as Eunsung Construction, Eunsung Heavy Industries, Eunsung Motors, Eunsung Department Store, and Eunsung Fire & Marine Insurance.

President Park Si-hyeong previously worked at Eunsung Heavy Industries and rose to the position of CEO under the trust of Chairman Han Young-joo.

Later, during Eunsung Cha's process of separating parts companies into separate entities, with the help of Chairman Han Young-joo, his younger brother, Park Sihan, established PAS. PAS was a company that produced plastic components like dashboards and interior materials for cars, supplying them to Eunsung Cha.

However, after Chairman Han Young-joo's death, due to a power struggle, the subsidiaries were separated. The third son, Chairman Han Mingoo, took over Eunsung Motors as his share and left the group. At that time, PAS also became independent from Eunsung Group, just a small to medium-sized inconspicuous subcontractor among many subcontractors.

Hyunjoo lit a cigarette and said, "However, Park Si-hyeong's foray into politics and becoming the Governor of Gyeonggi Province changed everything."

After that, PAS began to grow rapidly. Although it had no capital, the company obtained a huge loan at a low interest rate from the bank with Eunsung Cha's guarantee. They used that money to acquire several subcontractors and expand their factories.

It was a risky investment, but everything went smoothly because Eunsung Cha directed a significant portion of their output to PAS.

Whether it was a trade-off or not, Eunsung Cha received various favors from the Gyeonggi Province, such as winning contracts for buses and government vehicles.

"And a few years later, he was elected as the President."

PAS continued its growth by acquiring companies related to airbags, expanding its reach into the airbag sector.

Since airbags are crucial for safety, automobile companies usually procure components only from companies with proven technology.

However, Eunsung Cha terminated contracts with existing suppliers and directed all their orders to PAS. Furthermore, they actively supported PAS in its international expansion.

Thanks to this, PAS grew into a large-scale component company with two factories in Korea and 14 factories abroad.

"Is that PAS related to the President?"

"Not directly. President Park does not own any shares of PAS."

The relationship between Park and PAS was an issue during the election. However, he had already sold all his shares and completely disassociated himself from the business before running for governor of Gyeonggi Province, as confirmed by subsequent investigations.

"While there is controversy about President Park being the actual owner, it is a fact that the Park family is involved in its operations. His sister is the chairwoman, and his brother-in-law and son-in-law are directors."

Hyunjoo pressed her temple as if troubled.

"PAS relies on Eunsung cars for over 90% of its revenue. They are essentially intertwined with Eunsung."

"······"

Did I turn from fighting Eunsung to being an enemy of the government?

To think I hadn't considered that…

Taekgyu spoke, "Was the raid on K Company a warning not to meddle with the government?"

Hyunjoo exhaled cigarette smoke. "That could be one reason, but delaying investments seems more likely."

Currently, Eunsung and PAS face two threats: OTK Company entering the automotive industry and Ronald winning the presidency. These two are closely linked since OTK supports Ronald. If Ronald wins, Eunsung, which exports heavily, will suffer, affecting PAS that supplies to them.

Ellie said, "By targeting K Company to hinder OTK and delaying Rust Belt investments, they aim to weaken Ronald's power."

Taekgyu, sounding incredulous said, "Truly underhanded."

Ellie asked with a worried expression, "What if…"

"Would it be okay to return to Korea in this situation?

The actions of conglomerates and the government remain the same as always. It's no small matter to ruin a perfectly good company like this.

After much contemplation, I spoke.

"In this situation, we should definitely go back even more."

Senior Sangyeop and K Company are heavily involved in this investment deal. However, everything has come to a halt due to the search and seizure. In this state, the investment plan is bound to suffer delays.

Representative Sangyeop has been summoned for questioning by the prosecution. Therefore, someone has to take over K Company.

After all, this was a fight I started from the beginning. So, no matter how the other side comes out, I should accept it willingly.

Noona Hyunjoo put out her cigarette and said,

"Are you ready?"

"Yes."

"Then I won't stop you."

Taekgyu put his hand on my shoulder and said,

"I'll be with you, my friend."

Ellie added,

"Me too. I'm on Jinhoo's side."

Henry shrugged.

"I will go to Korea. I am now an employee of OTK Company."

Before leaving, I had a conversation with Ronald. Despite his busy schedule due to campaigning, the call connected quickly. Upon hearing my words, Ronald expressed concern.

[What do you plan to do?]

If the investment stops now, the residents of the Rust Belt will be disappointed, and Ronald's election will take a big hit.

I reassured him.

"I will first return to Korea to assess the situation. Things will proceed smoothly without hitches. I will ensure maximum investment until the election."

[Are you sure there won't be any issues?]"

I didn't answer directly, but I said this:

"I will see you after you're elected."

Ronald chuckled.

[I will invite you to the inauguration ceremony, so make sure to attend.]

"Of course."

After ending the call, I boarded the plane to Korea with my companions.

TL/n - 

Lee Myung-bak, the former South Korean president, has had a controversial post-presidency journey. Before taking office, he was the CEO of Hyundai Engineering and Construction, showcasing his ties to one of South Korea's major conglomerates.

After leaving the presidency, he faced serious legal troubles, including charges of bribery, embezzlement, and tax evasion, which led to his arrest in 2018. He was found guilty of receiving substantial bribes and misappropriating funds, resulting in a 15-year prison sentence for abuse of power during his time in office. Additionally, he was accused of misusing the National Intelligence Service to manipulate public opinion and target critics.

In 2023, President Yoon Suk-yeol granted him a pardon, a move that stirred considerable public backlash and controversy. Lee's case highlights ongoing debates in South Korea regarding corruption, accountability, and political ethics.