"Buy connections with money?"
CEO Wu said with a dumbfounded expression,
"CEO Park, I understand how you feel, but connections aren't something you can just buy with money. Who would accept a bribe from a foreigner they don't even know?"
I smiled.
"We've bought ourselves a month. And that's enough time to buy connections."
CEO Wu shook his head.
"I don't understand what you're talking about. I think it's best to just accept Chen Fei's offer, even if it's a shame…"
"CEO Wu, I have a principle when it comes to business."
"A principle?"
"Relationships built on money are stronger than water."
I said to the puzzled CEO Wu,
"Can you do me a favor?"
"Of course, what is it?"
"I need information about investment companies. One that's larger than Renyi Investment Corporation."
CEO Wu was shocked.
"You want to find a bigger investment company when we're already in this mess with Renyi?"
"Yes, a bigger one."
I smiled and said, leaving the stunned CEO Wu behind,
"Big enough to crush Renyi Investment Corporation."
***
"Is this the place?"
After several days of preparation, I arrived at the headquarters of Xinhua Investment Corporation, the company CEO Wu had found for me.
Xinhua was one of the top two investment companies in Shenzhen, with estimated assets of 400 billion won.
I clutched my briefcase and entered the building. The lobby was lavishly decorated with red ornaments.
The receptionist greeted us with a smile.
"She's asking what brings you here."
I said with a confident tone,
"Tell her I'm here to receive an investment."
The receptionist nodded, handed me a form, and said,
"She says to fill out this form with your company name, industry, desired investment amount, and future vision. Submit the necessary documents, and we'll contact you after reviewing your application."
I took the form, glanced at it, and placed it back on the counter.
"I don't need this. Tell her I'm here to see the chairman."
The receptionist, used to dealing with people like me, smiled and said,
"The chairman is not someone you can just barge in to see."
"That's true. Unless the amount is significant."
I took out a pen, filled in only the investment amount on the form, and handed it back to her.
"This should be enough to warrant a meeting with the chairman."
The receptionist's eyes widened as she saw the amount.
It was 1 billion yuan, about 100 billion won in Korean currency.
"1 billion yuan is beyond my authority. You can try, but I doubt he'll meet with you."
The receptionists started making calls frantically, and after a long wait, I was finally escorted to the chairman's office on the top floor.
An elderly gentleman with white hair, dressed in a gray suit, was sitting in the main seat on the sofa.
I sat down at his gesture.
The chairman observed us for a while and then smiled.
The interpreter glanced at me nervously and said,
"He says he wouldn't normally let a braggart like you up here, but he's curious because you're a foreigner. He's asking where you're from."
I said confidently,
"I'm Korean. Nice to meet you. I'm Park Sol from Chunha Trading."
I extended my hand, and the chairman, after a hearty laugh, shook it.
"He wants to know why you wrote down 1 billion yuan."
I placed my briefcase on the table.
"First, let me prove that I'm not a braggart."
I showed him documents and photos of Chunha Trading's factories in China and Korea.
"This is my factory in China, and this is my factory in Korea."
The chairman looked at the photos with interest and then chuckled.
"He says this isn't enough to prove anything."
"Then how about this?"
I handed him a bank statement from China Construction Bank.
The chairman's perpetually smiling face turned serious for the first time.
"This is my current balance. It's not a small amount, is it?"
The chairman examined the statement and said,
"300 million yuan. He says he can verify this with a single phone call."
I had gathered 300 million yuan, over 30 billion won in Korean currency, by combining my existing funds in China with the money from my Japanese account.
"Feel free to verify it. I have nothing to hide."
The chairman called his secretary and instructed him to verify the information. Silence fell over the room.
He wasn't lying about being able to verify it with a single phone call. After just ten minutes, the secretary returned and whispered something to the chairman, who nodded and then said to me,
"He says it's confirmed. He apologizes for being rude to a potentially valuable client. He's Zhao Yang, chairman of Xinhua Investment Corporation."
I nodded.
"I was also rude for barging in like this. I apologize."
We exchanged apologies, and I said with a serious expression,
"I believe this proves my capabilities and financial resources to some extent."
"He says it's somewhat convincing, but it's not enough to justify a 1 billion yuan investment."
He was right.
Who would invest 100 billion won in a complete stranger who just barged in and showed them a bank statement with 30 billion won, claiming to be capable?
"Of course. So I'm offering this bank account as collateral."
Chairman Zhao Yang looked at me with a dumbfounded expression at my unprecedented offer.
"I'll only accept investments within the limit of this account's balance. It would be a simple matter for you to freeze this account or block withdrawals, Chairman. I won't touch the money in this account until I repay the investment."
Chairman Zhao Yang said incredulously,
"He says there's no point in receiving an investment then. You can just use the money in your account."
"That's true. If I keep 300 million yuan in the account and borrow 300 million yuan, I'll just be paying interest, and there's no benefit for me."
Then I slapped my forehead, as if I had just remembered something.
"Oh, right. What's the interest rate?"
Chairman Zhao Yang said with a hesitant expression,
"7% per week for short-term loans and 12% per month for long-term loans, up to six months."
It was an exorbitant interest rate, practically usury.
With compound interest, a 100 million yuan loan for six months, without any repayments, would double to 200 million yuan.
But I smiled and said,
"Since there's no trust between us, there needs to be a penalty. How about 10% per week for short-term and 15% per month for long-term?"
Chairman Zhao Yang looked at me with a puzzled expression.
"He doesn't understand what you're trying to do. He's asking what you gain from this."
"I'm not borrowing money. I'm borrowing your influence. As a foreigner doing business in China, I'm facing many obstacles. This is the price for your help."
I looked him in the eye and said,
"So, what do you say? Isn't this a risk-free investment with guaranteed returns? If I have 300 million yuan in the account, I'll borrow 300 million yuan. If I have 500 million yuan, I'll borrow 500 million yuan. And the balance in this account will never decrease until I repay the loan. Investment is about making money with money, right? Please make your decision."
Despite my offer of collateral, the chairman was still suspicious and only agreed to a short-term loan of 100 million yuan.
And he didn't forget to threaten me.
"He says he'll seize the collateral account immediately if he sees any suspicious activity."
I scoffed.
"I have no intention of doing anything suspicious, so don't worry."
***
I called Maru.
[Hello?]
"Maru, it's me."
[Yes, what's up?]
"How much cash do we have for the secondhand electronic components business?"
Maru sighed.
[40 billion won. It's increasing every day. It's going to cost much more than we anticipated.]
"That's a good thing. It means we'll earn more."
[But hyung, why did you withdraw the money from our Japanese account? We need more funds.]
It was the first time I had heard the words "short on funds" since starting the business.
But I wasn't worried.
"Don't worry, I borrowed some money. I'll send it to you."
[You borrowed money? From where?]
I told him about what had happened.
[Park Sol! Are you borrowing from loan sharks now?!]
His loud voice startled me.
"Ouch, keep your voice down! And Park Sol? You're calling me by my name now that I'm not there?"
[How can I not be angry?! You're using our money as collateral to borrow more money? Are you insane?]
"Calm down, what are you worried about? Just think of it as an increase in our acquisition cost. With long-term interest, the price per kg goes from 10,000 won to 11,500 won with interest. We're selling them for 100,000 won. It's not a big difference."
Maru said in frustration,
[The 100 million yuan you borrowed is a short-term loan, right? 10% per week is 1 billion won in Korean currency… You're going to pay that every week? 1 billion won is not a small amount. Why are you giving it to loan sharks?]
"Because Xinhua Investment Corporation will be our shield."
[What?]
"You know that China is not exactly a friendly place for foreigners to do business, right? We need someone to protect us."
[What does that have to do with loan sharks?]
"Don't call them loan sharks. It's an investment."
Maru sighed.
[Fine, investment.]
"Anyway…"
I smiled.
"I'm going to be Xinhua Investment's golden goose. A safe and profitable investment. My goal is to borrow 1 billion yuan, 100 billion won, long-term."
[Hyung, 15% monthly interest on 100 billion won is 15 billion won. You know that, right?]
"Of course. But it doesn't matter. We can earn hundreds of billions of won just by completing one cycle of the secondhand electronic components business with that 100 billion won investment. And time is more important to us than money. Bribing every single official and high-ranking government employee? It's more profitable to expand our business and earn more money."
[…]
Maru calmed down, and I continued explaining.
"Listen, 100 billion won is one-fourth of Xinhua Investment's total assets of 400 billion won. We're their biggest client, and we're even paying a higher interest rate."
[So what? They only care about the interest payments.]
"No, you haven't been paying attention to the news about failing companies in Korea. The banks are panicking. It's the same principle. Who would mess with a golden goose that consistently generates profits? Do you think Xinhua Investment would just stand by and watch? And once this system is established, I'll be in a position of power, even with just this investment."
[A position of power?]
"Companies that borrow from these private lenders have already been rejected by banks. They're high-risk borrowers. But a company like ours, with perfect collateral and guaranteed credit, is a dream come true for them. No risk of default, and the amount is 100 billion won. They'll be begging us to borrow from them if I even hint at switching to another investment company."
I chuckled.
"They think they're in control now because they're lending us money. Just wait. They'll be begging us to borrow from them. If anyone messes with us, it's simple. I'll go to the chairman of Xinhua Investment and say, 'I'll repay the loan with the money you're holding as collateral, but I can't keep this up anymore.' One-fourth of their income would disappear, do you think they'll just let that happen? And with a client like us, it's not just one-fourth, it's closer to half."
My eyes gleamed.
"As long as we keep borrowing from them, Xinhua Investment will be our ally and shield. We're getting access to their connections, built over decades, for a measly 15% monthly interest."