Investor That Can See The Future

Chapter 408

Kang Jin-hoo’s remarks were a de facto threat.

It was also threatened with an astronomical amount of money as a weapon!

What would happen if Jinhoo Kang stopped developing Saemangeum and invested it abroad? Naturally, global companies and international capital will also move abroad following the earthquake.

Politicians will be heavily criticized, and the aftermath will be fierce.

The leader of the New Political Party spoke first.

“The New Political Party is in favor of Saemangeum development.”

The same was true for other minor parties.

“There is no reason to object that companies invest.”

“We also support our party.”

Now, everyone in the hearing room turned their attention to CEO Yeon Na-kyung. The same was true of the people watching the broadcast.

CEO Yeon Na-kyung felt a cold sweat running down her forehead.

“I, I… … .”

It was not a situation that could be passed by with a moderate smirk.

If a development plan worth hundreds of trillions of won was canceled, someone had to take responsibility. Wouldn’t even the existence of the party be endangered if done wrong?

No, he doesn’t know that, but his political life will definitely come to an end.

She forced her voice out of her voice.

“Wow, our party is in principle in favor of it.”

A strong feeling of humiliation wrapped around her body. What will people think when they see this?

My legs lost strength and I wanted to sit down, but Jin-hoo Kang did not let me go easily.

“In principle… … Then can we trust that the Liberal People’s Party will cooperate with the additional budget and related bills?”

Representative Yeon Na-kyung, who was overwhelmed by the momentum, unknowingly nodded her head.

“No, of course.”

Then, Jin-hoo Kang smiled.

“Then I know you agreed. As I just said, I will mobilize all my capabilities to make Saemangeum a city that will lead Korea’s finance and high-tech industries in the future. We wish you all the best in the future.”

* * *

The aftermath of the hearing was enormous.

In a poll conducted immediately after the hearing, 83 percent supported the development of Saemangeum, and 67 percent said it was right for Kang Jin-hoo to proceed with her initiative.

Concerns about falling house prices and office vacancies in the metropolitan area remained, but other regions showed overwhelming support. This was also the case in Daegu and Gyeongsang-do, which can be said to be the gardens of the Liberal National Party.

A market economy and free competition are the foundations of the conservative ideology. Therefore, opposing corporate investment did not fit the party’s line and the logic of conservatives.

Except for those who unconditionally oppose the left-wing government and what Kang Jin-hoo is doing, even the majority of conservatives supported the development.

Companies decided to proceed with the investment in Saemangeum as scheduled, and articles poured in.

[OTK Research Institute, a large-scale research institute for basic science development!][Disneyland confirms construction on the site of Universal Studios Theme Park][Ceylon Hotel Announces Complex Resort Construction Plan in Saemangeum][Seoseong Hospital, Eunsung Hospital, Saemangeum General Hospital Construction Site Application][Bio companies to promote Korea’s largest healthcare cluster in cooperation with the medical community][Announcing that they will establish a second headquarters for Seoseong Group!]

Criticism poured out against the Liberal People’s Party.

The parents’ union and real estate speculators, who were protesting while occupying Gwanghwamun Square, accuse Kang Jin-hoo and Yeon Na-kyung.

“CEO Yeon Na-kyung should resign with Kang Jin-hoo!”

“Development of Saemangeum is never allowed!”

“Protect the property of good multi-family dwellers and landowners!”

“Let’s break the seawall and bring back the Saemangeum tidal flat!”

The internet was flooded with mockery.

– So, why did you have this hearing?

-Haha, were you trying to be humiliated?

– The real New Politics Party should reward Yeon Kazaki. Now, half of the approval ratings for the New Political Party and the president are nothing but the creation of Yeon Kazaki.

– Was it a big picture of Na Kyung-sang to give Jin-hoo Kang a development engine?

– It’s disappointing, Yeon Kazaki! Even so, aren’t you ashamed of being a subject of the Empire?

– You bastard! Betraying Japan!

– Oh oh! We Japanese trusted you! But, to kneel down to Jin-hoo Kang. disappointment disappointment.

– I don’t know yet. It may be that Yeonka Zaki knelt on his knees to gain momentum.

– Na-Kyung Yeon will definitely come back!

-The next hearing will be with Indigenous Waegoo Returns~

* * *

Even if the hearing passed safely, it is not over. Rather, it can be said that this is the beginning.

The supplementary budget was passed through the National Assembly after a lot of pain, and the division of administrative districts to make Saemangeum a city began.

The establishment of Saemangeum Development Corporation proceeded smoothly. As mentioned earlier, it consists of a 51 percent stake in the Saemangeum Development Administration and a 49 percent stake in OTK Company.

The initial capital is KRW 5 trillion.

As the Saemangeum Development Administration did not have enough money, the OTK Company decided to lend the capital for the quick establishment. In the future, not only the loss from development, but also 49% of the profit will flow into the OTK Company.

It’s not just one or two things to do.

Infrastructural works such as airports, ports, roads, and railroads must be carried out, and places that have not been reclaimed must be reclaimed as soon as possible, and buildings and factories must be built on sites that have already been reclaimed. Artificial islands, freshwater lakes, and waterfront parks should also be created.

Still, it is a huge advantage that there is no need to worry about appraisal, land compensation, or objections from residents. There are fewer regulations, and the environmental impact assessment and traffic impact assessment are also minimized.

During a meeting with Prime Minister Ryu Jeong-hoon, Deputy Prime Minister Jeong Ki-soo, and Saemangeum Development Agency Director Nam Poong-hyeon, I showed the urban design data received from Akit.

“It is difficult to build a subway due to the nature of reclaimed land. So, we plan to build trams throughout the city, and all public transportation will be operated by self-driving electric vehicles. We are also negotiating with US architectural startups to shorten the construction period.”

Saemangeum development is a business that incurs huge losses in the short term, but generates huge profits in the long run.

In fact, the land sold to companies does not make a lot of money as it is less than the cost of construction. The proceeds from the sale must be reinvested in the surrounding infrastructure anyway.

The biggest profit comes from the sale of residential and commercial facilities.

“All residential facilities will be developed under the leadership of Saemangeum Development Corporation.”

Public development and private development each have their pros and cons.

Public development directly builds apartments and sells them. In private development, the land is sold to a construction company, and the construction company is in charge of design, construction, and sales.

From the perspective of the construction company, it means taking land at a low price, building an apartment building, and selling it, making huge profits. This was repeated every time a new city was built.

There are several reasons for choosing private development, such as rapid development and risk management, but the biggest reason is economic and economic cooperation.

In other words, it is to drive development profits to large corporations. In the process, politicians and bureaucrats receive bribes and entertainment, and after retirement, they move to positions such as outside directors or advisors of subsidiaries, earning huge salaries.

The whole society suffers because of the interests of some individuals.

As long as I hold the development key, I have no intention of letting this happen.

Saemangeum is the land of the Korean government. In other words, it is the property of the people. It is true that all the profits from development are also taken by the people.

Even if a company is given land as an inducement, it is not necessary to do so to the construction company. Even if it’s not like this anyway, there are plenty of things for construction companies to eat.

Commissioner Nam Poong-hyeon said.

“If we proceed with public development, we have to bear the risk of unsold properties.”

“It will be 100% sold out anyway.”

There is no land compensation fee, so it can be sold at a lower price. Already, end-users and speculators are all paying attention to Saemangeum.

In terms of the atmosphere, shouldn’t we be worried about overheating competition for subscriptions rather than unsold sales?

“Funding for construction is also an issue.”

If it proceeds with private development, all you have to do is sell the land to a construction company and receive money. However, if you proceed with public development, the money will not come in until the sale and move-in are completed, as you have to sell the property yourself.

I came up with a simple solution.

“We are creating a national fund. You can pay an interest rate that is 1% higher than the bank interest rate, and give additional points to fund subscribers over a certain amount when selling in the future. OTK Company will make a guarantee.”

* * *

Saemangeum, which was the largest reclamation project since Dangun, has now been transformed into the largest urban development project since Dangun.

The stock prices of construction companies soared all at once, and local small and medium-sized construction companies who were suffering from difficulties cheered.

Construction has the largest dripping effect among all industries.

When a large construction company receives an order, the large company subcontracts it to a mid-sized construction company, and the mid-sized construction company subcontracts it again to a small and medium-sized construction company. Employment from experienced workers to daily workers greatly increases, the unemployment rate decreases, and money is released.

The construction companies immediately rushed to Saemangeum and hurried their business. Even if a foreign company builds a factory, the construction will of course be carried out by the local company.

Theme parks, resorts, commercial facilities, schools, hospitals, shopping malls, cultural centers, stadiums, and even apartments.

Among construction companies, there was even talk of securing food for the next 10 years. The chaebol groups with construction companies smiled broadly.

But not everyone could laugh.

The GH group was engulfed in shock. Because the construction was sold at a bargain price just before.

If OTK Company had known that Saemangeum would be developed, it would have survived without selling it somehow. Or, sold it at a much higher price.

There were rumors in the industry that if the sale had been delayed by just one week, it would have been able to receive an additional 1 trillion won.

GH Construction’s management was stunned. But what’s the use of regretting after the ship has left?

On TV, news about the development of Saemangeum was talked about every day.

When Seon-ah saw the face of Jin-hu Kang on the news screen, her body trembled slightly.

In addition to the management failure, the controversy over the sale at a low price was added to the criticism from shareholders. Even within the GH group, there were rumors that all management of GH E&C should be expelled. It also included her father-in-law, Jin-gwang Ko, and her husband, Jun-hyeong, the late.

Even if you get kicked out of the group, there is no problem with your diet. This is because others already have so much wealth that they cannot accumulate even if they earn in their lifetime.

But that’s it. A chaebol without management rights was just one of many wealthy people.

She said, ‘I thought she had the happiness she wanted… … .’

Why did this happen?

My boyfriend, whom I once dated, soon became the richest man in the world. Her moments with him felt like a dream.

Seon-ah bit her lips tightly, unconsciously.

‘It’s Jinhoo. Is it all because of me?’

* * *

“… … Is there a possibility that your ex may misunderstand you?”(Read more @ wuxiax.com)

I was at a loss for words because Taek-gyu’s talk was ridiculous. By the way, I’m having dinner at a Chinese restaurant near my office right now.

After a while, I woke up and screamed.

“What kind of nonsense are you talking about all of a sudden!?”

“It just came to mind.”

“Cool!”

In an instant, I almost spit out the tea I was drinking.

“Why do you suddenly think of my ex? why?”

Taek-gyu closed his eyes and protested.

“No, can’t you even think about it?”

“… … .”

Then just think Don’t take it out of your mouth.

As if nothing had happened, I was about to eat again, but Ellie, who was next to me, put down my chopsticks and said.

“Hmm, I heard it might be true.”

Yuri, who was eating together, also agreed.

“Well, the timing is a bit like that. The talk of Saemangeum development came right after the sale of GH E&C, and it seems like it was announced intentionally at this time.”

“After selling the construction of the GH group, it fell to 35th in the business world. If we had managed to survive by mobilizing all our capabilities, we could have seized the opportunity.”

“Iknow, right. To be honest, when my senior said that he was going to develop Saemangeum, it was a bit of a surprise. From the perspective of Seon-ah, wouldn’t it be possible to misunderstand enough?”

“… … .”

Why is the topic suddenly moving this way? This is all because of Oh Taek-gyu.

Ellie looked at me and asked.

“What if I really misunderstood?”

“That, well.”

Naturally, GH Construction was not interested in even the existence of the development plan.

“What… … Whether there is a misunderstanding or not is up to you, do you really need to worry about it?

Taek-gyu folded his arms and nodded his head.

“Well. There is something else that I need to worry about the most right now.”

“What?”

“Do you pour sweet and sour sauce or not? Shall we do it by pounding or by squeezing?”

“… … Just eat it.”