Chapter 127 - Coconut Bank

Chapter 127: <Coconut Bank>
Turning off the TV, Oh Hoon asked Woosung,
You are now more famous than I am!

Woosung laughed,
Haha, no way. Everyone knows this project got approved because of you.


I did make an impressive speech at the Blue House. I said this is necessary for this country!


Thank you so much.

Oh Hoon laughed and replied,
Haha, you’re welcome.

Woosung had to restrain himself from sneering.
‘I gave you 300,000 dollars so of course, you should do this for me…’
Woosung had spent a total of over a million dollars in bribe so far.
Oh Hoon continued,
And now, I have to show my thanks to some people in the Blue House…

Woosung nodded and answered,
I already have something prepared for you. You can take it when you leave.


You are great!

Woosung bit his lips. Before this meeting, he at first wondered why Mayor Oh wanted to see him without Lee Sunghyun. However, he caught on quickly.
Money.
He was right too.

It is my pleasure.


It will take some time to get final approval. There may be some resistance and objections from the opposite party.

Woosung listened quietly.

But eventually, they will pass it. Your reputation is great in Korea. You have been compared to America’s Elon Musk.


It is all thanks to you.


Do you have an interest in getting involved in politics? You have a big potential.

Politics.
Woosung hasn’t considered it. The only goal he had so far was making money for the revenge against Choi Gichul.
Woosung replied honestly,
Not right now.


If you change your mind, come to me. I will help you.


Yes, sir.

Woosung thought the meeting was over, but Oh Hoon added in a lower voice.

By the way, it would have been better for me if the fee reduction project started in Seoul first. Because it will now launch in various cities, the public thinks the idea came from the President.

Oh Hoon needed another big project to promote himself for the upcoming re-election.
He continued.
So I thought that perhaps you can take over Yongsan International Business district development project. As you know, it is at the brink of bankruptcy due to the recent financial crisis.

Yongsan International Business district development.
It was an enormous project that required a budget of over 30 billion dollars. Unfortunately, due to the financial crisis, it was halted.

I don’t have any experience in the construction industry…I will have to think about it.


If you are up for it, the city of Seoul will help you in any way you need. It will be beneficial for you too as a businessman.


But it is such a huge project. I need to look into a few things before answering.


You will have the Coconut Bank, which will make it easier for you to get the necessary funds. You will also gain huge tax benefits.

Woosung didn’t have anywhere near 30 billion dollars to afford this project. Besides, entering the mobile carrier business was his priority.
When Woosung looked uncomfortable, Oh Hoon added,
Just think about it. You won’t have to come up with the entire budget right away. If you can just provide 4 billion dollars, it will prevent the project from having to file for bankruptcy.

After the meeting, Woosung left with an unhappy expression.

Jang Gwangchul asked Woosung.
Didn’t you say you will use that money to purchase Qualcomm? Besides, we just started the entertainment and mobile carrier businesses. If we get into the unfamiliar territory of the construction industry, it could end us.


But it could also have a huge return.


You don’t sound sure this time. Do you really believe this is a good opportunity?

Woosung paused at Jang Gwangchul’s accurate assessment of the situation.
Yongsan International Business district development.
It could be a huge opportunity, but unlike other businesses, Woosung wasn’t sure of the future of this project.
Woosung asked,
How about using the Coconut Bank for the funds?


The Separation of Bank and Commerce Act is there to prevent banks from doing things like that. It is not possible. The media will have a field day if they find out.


What if we get the cooperation from all the other banks?


Do we really have to do this?


Yongsan is a prime piece of land. Anything we build there will surely be profitable.

Jang Gwangchul sighed deeply. Theirs was an IT company yet Woosung was becoming interested in the construction industry.

We could also apply our IT expertise. In the future, homes will become very popular. We can test it there.


If you must get involved, we need to first cut the budget in half at least. Only then could even consider it.

Woosung added,
The project will involve mainly building residential structures. This will help the housing shortage in Seoul, which means other banks will want to cooperate. We can get them to invest.

This could make him billions of dollars. It was a whole new level of game for Woosung.
However, he also knew how difficult this project would be.
Jang Gwangchul sighed and asked nervously,
And what about the mobile carrier business?


Of course we will go ahead with it too.


Where would we get the additional fund?


I was thinking about selling some of the company stock.


Are you serious?


Haha, always. Besides, I have a bit of money in my personal account. It will be enough to start the mobile carrier business.


Then why the need for selling the shares? We have enough money.


Haha, for the next investment opportunities.

Jang Gwangchul shook his head and asked.

And how much were you thinking to sell?


1 billion dollars since the smartphones have done so well. Let’s do 50 million dollars for Coconut.


So you have it all planned already.

Woosung lowered his voice further.
I can see the big picture, but I don’t have the people to carry it out. I realize I can’t do anything. We need capable people in the finances and constructions.


I know some good people in finances but constructions…I have nothing.

Woosung thought carefully. So much to do yet not enough people. Jang Gwangchul also frowned thoughtfully.
After a few minutes, Woosung replied,
Well, I haven’t said yes to Oh Hoon yet so we have some time. Let’s get some financial experts first.


Nuri Finances headquarters, Shin Gungu’s office.
Shin Gungu frowned as he listened to his secretary’s report.

It is now official that Coconut Bank has been approved by the government.


It wouldn’t have been easy…


The public likes Kang Woosung. He is the new hero of the country. There are people who are comparing him to Elon Musk.


He did create innovative products like Blue S, Coconut Talk, and now the Internet Bank.


The President needs him to improve his approval rating.


I guess.


On top of Coconut Bank, there is a rumor that he is planning another project.


Mobile carrier?


That’s officially in works already. I meant on top of that too. They are thinking to get into the space business or the electric cars.

Shin Gungu swallowed. It was clear that the government had an undeniable trust in Kang Woosung.
He replied,
If we stay put, we will lose everything.


Some thinks his company will grow bigger than Daeyang.


We need to do something. Get Shin Semi.


Yes, sir.

When she arrived, Shin Gungu explained the situation. As she listened, no expression can be read on the way she looked.