Free Web NovelAfter introducing Hong Jinpyo to Lee Sanggeun, I finally began explaining why I had come here today.
“Chairman Lee. Who’s in charge of overseeing construction?”
Before Lee Sanggeun could answer, someone else stepped forward.
“I’m in charge of the Eunmi Apartments redevelopment project.”
He looked to be in his mid-fifties, his hair neatly slicked back.
The man met my gaze with a confident expression and continued speaking without pause, introducing himself.
“Baek Jungwoo. I’m currently the Executive Director of Joongwoo Construction’s Housing Division.”
When Baek Jungwoo finished, Lee Sanggeun added an explanation.
“He’s the one who created the apartment brand we just launched. His title is Executive Managing Director.”
As the 21st century began, construction companies explored various strategies to upscale apartments.
One of those strategies was branding—moving away from simply naming apartments after the construction company.
They wanted to escape names like Eunmi Apartments because they were built by Eunmi Housing, or Apgujeong Daehyun because Daehyun Construction built them.
Joongwoo Construction had once come close to collapse, which dealt a major blow to its name value.
Perhaps because of that, they were quicker than other companies to roll out an apartment brand, and the strategy proved successful.
“I’ve heard about it. The TV ads are everywhere.”
“We spent quite a lot on advertising. But thanks to that, the brand stuck in consumers’ minds. I’d say it was money well spent.”
“Was the advertising your idea too, Executive Director? You seem quite capable.”
As Lee Sanggeun said, Joongwoo Construction’s apartment brand was constantly on people’s lips.
Listening to the explanation, I turned to Baek Jungwoo, who was seated next to Lee Sanggeun.
“What do you think is the biggest issue with this project?”
Baek Jungwoo didn’t answer right away. Instead, he sent a glance toward Lee Sanggeun.
Only after Lee Sanggeun nodded in approval did he open his mouth.
The confidence he had shown earlier seemed like an attempt to make a strong impression on me.
“The building coverage ratio is too low. At this rate, profitability could drop significantly. Even if we use premium materials, housing prices can only differ so much compared to other places. I think we should revise the construction plan and add five more buildings.”
The building coverage ratio refers to the proportion of land area occupied by buildings.
The new residential complex to be built after demolishing Eunmi Apartments had a coverage ratio of under 30%.
I had deliberately chosen to raise the floor area ratio while lowering the building coverage ratio.
To earn the label of a premium residential complex, you had to pay attention to sunlight rights, landscaping, and green spaces.
But Baek Jungwoo seemed to prioritize profitability over all that.
Was he saying that just because the floor area ratio increased, there was no need to lower the coverage ratio?
Curious to hear what he was really getting at, I gave a slight nod, signaling him to continue.
“Just adding five more buildings would maximize profitability. Even then, the coverage ratio would barely exceed 40%. When else will you ever get the chance to build an apartment complex of this scale in Seoul—especially right in the heart of Gangnam? We need to increase profits as much as possible.”
Baek Jungwoo went on at length, explaining his thoughts.
I didn’t argue. I simply nodded along and listened.
“The Ministry of Land and the Seoul city government have also announced policies to ease floor area and building coverage regulations. So as long as we stay within the law, I believe building more would be better.” ƒreeωebnovel.ƈom
After finishing his speech, Baek Jungwoo lifted the corners of his mouth as if relieved.
Looks like he’d been holding all that in for a while. I met his eyes and smiled faintly.
“Thank you for your thoughtful opinion, Executive Director Baek. From a common-sense standpoint, your view is certainly valid. However, I’m not building these apartments to sell units and turn a profit.”
At my calm but firm words, I felt Baek Jungwoo flinch.
Well, hardly anyone knew my real intentions, so it was natural to think the lost profits from sales were a waste.
Even Lee Sanggeun didn’t know why I was developing Eunmi Apartments.
“The place I want to create is a space that everyone dreams of, but not just anyone can live in. Not merely an expensive place, but a unique one that’s hard to find anywhere in the world. To do that, everything must be possible within the complex itself. That’s why we rezoned the land beneath the two landmark towers into commercial areas. The lower floors of those two towers will all be filled with amenities.”
If everything was possible within the complex, that meant there would be no need to interact with the outside world.
A perfect setup to remain shrouded in mystery while inspiring admiration and desire.
“And the middle floors will be private spaces reserved exclusively for pre-approved residents and their companions. Can you imagine it? Right in the middle of Seoul—a place where you can invite your acquaintances and enjoy private parties in a space that’s hard for just anyone to access. Separation is a form of privilege. I intend to draw in everyone with money and power.”
Chaebol families didn’t particularly seek out apartments.
But they weren’t the consumer base I was targeting, so that didn’t matter.
As Korea’s economy grew and IT industries developed, a considerable number of newly wealthy individuals emerged.
They wanted lives different from ordinary people’s. I planned to stimulate that desire.
“If you increase the building coverage ratio, you end up packing buildings in tightly—like chicken coops. The wealthy won’t come. Real estate prices aren’t driven by the masses, but by a small number of ultra-rich individuals.”
I deliberately reduced the number of units to cater to people obsessed with scarcity.
“Executive Director Baek’s point about how rare this opportunity is, building something like this in the heart of Gangnam, is valid. Which is precisely why I can’t be satisfied with some ordinary apartment complex.”
And I would monitor their every move, keeping them all under my control.
Under the pretext of security, I planned to install CCTV throughout the complex—and even create ways to monitor their homes.
That was the biggest reason I was tearing down Eunmi Apartments and rebuilding them.
I intended to instill in the residents the belief that they were the ones moving Korea.
Only then would my prey—newly wealthy individuals and those with money—grow greedy.
A massive panopticon disguised as a premium residential complex. That was what I wanted.
“So all you need to do is build exactly as designed. Not a single deviation—just follow the plans. That won’t be difficult, will it, Executive Director Baek?”
“Yes, sir.”
After hearing his answer, I looked around at the other executives, including Lee Sanggeun.
“I’m not ignorant of how this industry works. I know better than anyone why chaebol groups each keep a construction company.”
Construction firms were among the best affiliates for creating slush funds.
Inflating construction costs, padding material expenses, exaggerating labor costs...
Chaebol families had created slush funds through all kinds of methods.
The result was major disasters like the collapse of the Sampoong Department Store and the Seongsu Bridge.
Things were better now, but the custom still lingered and continued to influence construction sites.
When those at the top skimmed off money, it trickled down, and everyone along the chain took a bite—it became a kind of tradition.
“But we’re not doing that. We won’t lack funding, and we won’t be subject to anyone’s interference. You all simply need to act in a way worthy of the name Joongwoo. If you treat the lives of workers lightly for profit, and fail to revere the safety of those who will buy our apartments, you’ll have no place to stand in the future.”
Even after twenty years, the industry’s practices—no, its vices—hadn’t been corrected.
If anything, they’d gotten worse. Companies lowered labor costs by hiring foreign workers while pushing brand value and housing prices higher, all while quality declined.
To the point where people scoffed that apartments built twenty years ago were sturdier.
I had no intention of turning Joongwoo Construction into that kind of company.
I would grow it into a comprehensive construction firm that went beyond cramped Korea and into the world.
“So keep this in mind, everyone. Any thoughts of pocketing money on the side or inflating construction costs will not be tolerated. That said, I won’t take issue with what you’ve done up to now.”
That was why I had called all the executives here, not just Lee Sanggeun.
“In return, I promise top-tier treatment in the industry. Those who don’t welcome this change at Joongwoo Construction can submit their resignations and leave once today’s meeting is over.”
At the chilling warning, the atmosphere among the executives sank.
“If even a single incident is discovered after this moment, know that it won’t end with merely taking off your jacket.”
There was far too much Joongwoo Construction needed to do going forward.
Not just projects in Korea, but in Iraq, Afghanistan, and even North Korea.
Even working together with Daehyun Construction, Joongwoo would remain at the center of it all.
As a company that had to move in step with me, even a slight misalignment could bring everything crashing down.
That was why I intended to brand this warning deeply into everyone present.
“If you don’t want to become an example, you’d better conduct yourselves accordingly. If you’re curious about how I operate, ask Chairman Lee Sanggeun. Never take my warning lightly.”
Anyone who ignored my warning and clung to old practices, or even entertained other thoughts, would be stripped bare without a shred of dignity.
I’d make them disgorge everything they’d taken, pursue criminal charges, and leave them with lives worse than death—ensuring the rest would learn to be careful.
“Do you all understand?”
“Yes! We understand!”
The executives answered in unison, their voices booming through the conference room. I liked the sound of it.
Veterans of construction sites—no wonder their voices carried.
“Oh, and labor unions will not be allowed.”
At my words, Lee Sanggeun responded quickly.
“More and more people are withdrawing from the union.”
Even Lee Sanggeun had no authority to forcibly dissolve them.
Labor unions were legal in this country, and forming one was a worker’s legitimate right.
I didn’t deny that—but I had no intention of letting unions interfere with what I wanted to do.
That was why Lee Sanggeun was encouraging dissolution by creating a clear divide between union and non-union members.
“I don’t hate unions. They clearly have positive functions. But the moment they gain too much power, they become a headache. In all the companies I own, I have no intention of allowing even a single union activity.”
Everyone here was an executive. None of them were likely fond of unions.
“Instead, offer treatment so good that employees won’t feel the need to join one. If you take care of their welfare and salaries, they won’t see the point of forming a union. Right now, we need to strengthen our foundation.”
As long as the executives didn’t get any funny ideas, there was more than enough leeway to take care of the employees.
There was no reason to create internal strife by mistreating workers who would be satisfied with even reasonable treatment.
“That’s all. You may leave now. Chairman Lee, please stay.”
At my dismissal, Lee Sanggeun addressed the executives.
“Thank you all for your hard work. You may go.”
The executives sprang to their feet and bowed.
Having risen from construction sites themselves, their posture was crisp and disciplined.
“Thank you for your hard work!”
As the executives filed out one by one, Hong Jinpyo—who had been watching the room—started to rise as well.
Perhaps worn down from all the effort lately, he seemed overly cautious, and it caught my eye.
“Jinpyo, you’re staying. Let’s move seats so it’s easier to talk.”
I called Hong Jinpyo over from the corner and had him sit facing Lee Sanggeun.
“Chairman Lee. I mentioned this briefly earlier, but I intend to make this man a professional association head specializing in redevelopment and reconstruction projects.”
“We’re the ones cultivating a professional association head?”
“Yes. You know as well as I do—associations aren’t exactly clean. They’re pits where all kinds of people gather to fight over interests.”
Lee Sanggeun frowned slightly, clearly empathizing.
“That’s true. Seeing it firsthand, I really felt it. I had no idea things were that degenerate. Of course, there are many associations that function properly under capable leaders, but even they demand compensation in exchange for awarding us contracts. I’ve been told that’s just how things are.”
“Exactly. We can’t step in and overhaul industry customs ourselves. That’s why I plan to deploy him to key redevelopment areas.”
Lee Sanggeun glanced at Hong Jinpyo, then nodded.
“In that case, we’ll need to back Mr. Hong. He already has experience working across redevelopment sites, and he successfully persuaded the commercial association at Eunmi Apartments. Raising him shouldn’t be a problem.”
Even without a long explanation, Lee Sanggeun seemed to have sized things up.
As expected of ➤ NоvеⅠight ➤ (Read more on our source) a sharp mind—makes things easy.
“There’s no need to give him special treatment just because he’s my classmate. If you don’t like him as a partner, you’re free to let go at any time.”
At our words, Hong Jinpyo’s shoulders stiffened slightly.
I had no intention of entrusting him with something beyond his abilities just because of past ties.
“Jinpyo, if you don’t want to waste the opportunity I’ve given you, you’d better do well. Chairman Lee is a cold-blooded man.” freёweɓnovel.com
Whether Hong Jinpyo climbed up the rope I’d lowered depended entirely on his own ability.
But this was the last opportunity I would give him.
If he let this chance slip, I had no intention of ever seeking Hong Jinpyo out again.
