Free Web NovelSanctions against Joongwoo Group in China began in earnest.
Construction projects were suspended. Business operations were halted. And starting with those measures, every branch director stationed in China was arrested by Public Security on charges of accepting bribes.
The Korean government dispatched the ambassador to China to lodge a protest, but China pushed back, claiming it was merely conducting a standard legal investigation.
Korea’s business community watched anxiously, wondering how far this situation would spread.
It took a full week after I sent word that I wanted to speak with Wen Jiabao before I finally managed to reach him.
― President Kim Muhyuk.
“Premier Wen Jiabao. What on earth is going on? Why has it been so difficult to get through to you?”
― There are many eyes watching me. I don’t think we can speak for long.
It seemed he was under surveillance.
From that single sentence, I could roughly infer the atmosphere inside China.
“...Is the situation that bad?”
― Yes. Even Chairman Hu Jintao is at a level where he cannot take action. As for me, my hands and feet are completely tied.
“Then the attack on Joongwoo Group is clearly a move by the Chinese Communist Party, isn’t it?”
― ......
Wen Jiabao did not answer readily.
But that silence itself was more than enough of an answer.
“I understand. Still, detaining Joongwoo Group’s branch directors is going too far.”
― I said the same. But Luo Gan refuses to listen at all. The elders, the Shanghai Clique, and even the Princelings all want to make this bigger.
“The Princelings too?”
― Yes. Li Feng met with Luo Gan. After that meeting, Luo Gan began moving far more aggressively. Naturally, the number of eyes watching me has increased as well. It is likely Luo Gan who has placed me under surveillance.
At the mention of Luo Gan meeting Li Feng, I let out a quiet sigh.
So Li Feng was standing firmly behind Luo Gan after all.
Even a tiger that has lost its teeth still has claws left.
“I see.”
― I must hang up now. And it will likely be difficult to contact me for the time being. Please understand.
“I understand completely. Let’s speak again next time with smiles.”
Wen Jiabao hurriedly ended the call.
After setting the receiver down, I tapped my desk with my fingers and sank into thought.
“They want this to escalate. This isn’t just a warning aimed at me.”
Not long ago, during an unofficial meeting with President Yoon Changho, the subject of potential economic sanctions against major Korean corporations operating in China had come up.
The attack on Joongwoo Group began immediately afterward.
There was no way that was a coincidence.
There was no chance China didn’t know that Joongwoo Group was connected to me.
Which meant it would not end with Joongwoo Group alone.
If I stepped back here, there was a high chance it would end at this point.
But if I did not, then the Chinese companies I had invested in would inevitably become targets as well.
I didn’t like it.
Clashes between the Chinese and Korean governments were unavoidable, but an attack directed at me personally was not something I could ignore.
At that moment, a knock sounded at the study door.
“Boss. I’m coming in.”
Manager Ma entered.
“Ma Yun is requesting a phone connection.”
“Ma Yun?”
“Yes. What should we do?”
“Put him through.”
Manager Ma picked up the phone and placed the call.
“You’re connected, Boss.”
A moment later, he handed me the receiver, and I brought it to my ear.
“Chairman Ma Yun. It’s been a while.”
― President Kim Muhyuk. Something terrible has happened.
His voice on the other end of the line was urgent.
He skipped greetings entirely and went straight to the point.
― Public Security just stormed into our company. And they suddenly arrested our finance director.
“What? They arrested your finance director?”
― Yes. They also confiscated all of our hard disks.
“Is there anything that could become a serious issue?”
Ma Yun answered immediately.
― No. There’s nothing that should become a major problem. But if they decide to dig in thoroughly, we won’t be able to endure it. What should we do? The high-level officials we were connected to are all avoiding our calls.
By “high-level officials,” he meant the investors who had put money into Alibaba alongside me.
They had invested because I had invested.
Wen Jiabao and Hu Jintao had also placed funds into Alibaba following my lead.
And yet despite that, Public Security had conducted a search and seizure and even arrested the finance director.
It was only natural that Ma Yun was trembling with fear. In China, no one could run a business without backing from the Communist Party.
The reason Ma Yun had accepted my investment in the first place was precisely to gain protection from high-ranking Party officials.
“For now, calm down and explain slowly what happened.”
Ma Yun carefully described what had occurred that day.
He was still rambling from shock, but the gist was simple.
Public Security had arrived without warning, seized the hard drives and various documents from the computers, and arrested the finance director.
“Did they present a warrant?”
― We were unable to confirm an arrest warrant for the finance director, but we did confirm a search warrant.
“Is it possible to arrest someone without an arrest warrant?”
― According to our head of legal, yes. They can take him under criminal detention and hold him for investigation for up to thirty-seven days.
As expected of China, where human rights meant nothing.
The idea that they could detain someone for over a month without proper evidence or an arrest warrant made me let out a hollow laugh.
― Companies we were doing business with are sending notices to terminate contracts. They’re even paying penalties to cut ties with us.
That was where Ma Yun’s real urgency lay.
Alibaba had entered the B2C market, but for now its primary business was still B2B.
In the future, B2C would become its core business, but at present it was structured in a way that could not generate profit.
It was locked in a chicken game with eBay in the United States.
If, in the middle of pouring massive capital into that chicken game, B2B were to collapse as well, Alibaba would surely fall.
“How long can you hold out?”
― At this rate, we won’t even last six months. What should we do?
“For now, I will devise countermeasures. Do not move rashly. Focus on stabilizing the company.”
The fact that Alibaba would grow into a massive corporation was a future only I knew.
If it could just endure this period, it would return far greater rewards.
“If you run short of funds, I will continue to support you. However, if things truly do not improve, I may have to consider withdrawing my investment and pulling out of China.”
― President Kim. If that happens, we’re finished. Withdraw your investment?
“If I withdraw, there’s a chance that everything happening to Alibaba right now could normalize.”
At my words, Ma Yun hesitated before asking cautiously: freēwebnovel.com
― ...Are you saying all of this is happening because of you?
“Yes. There’s a high probability of that.”
― ......
Ma Yun said nothing. frёeweɓηovel.coɱ
Hearing that this crisis had erupted because of me must have left his mind in complete turmoil.
“What shall we do? Should I withdraw my investment and connect you with another investment firm?”
― N-No.
The answer came quickly, but his voice trembled slightly.
“Don’t force yourself. Think it through carefully and contact me again. This happened because of me, but I cannot guarantee I can resolve it. The people in power in China are acting deliberately.”
― There is no investor like you—someone who invests and does not interfere in management at all. I have no intention of changing that yet. I cannot promise about the future, though.
His honest answer made me laugh, even though the situation did not warrant it.
“Very well. If you truly cannot endure, tell me. And I will support operating funds through another route.”
― Yes...
“Then I’ll hang up. Let’s speak next time under better circumstances, Chairman Ma.”
After ending the call, I handed the receiver back to Manager Ma.
“So they really want to test me.”
“Has Alibaba also been targeted?” he asked.
I nodded.
It was unlikely to end with Alibaba alone. Every company I had invested in would likely become a target.
“We may truly have to consider withdrawing from China.”
With a heavy heart, I let out a deep sigh and asked Manager Ma:
“What about the investigation into the Chinese spy inside the Blue House?”
“We’ve narrowed it down to three.”
“Three. Have we found evidence?”
“No. They haven’t discovered concrete evidence yet.”
“Who are they?”
Manager Ma listed the names of the three suspected spies.
“Senior Secretary for Public Relations Kim Gapsu. His son is currently studying in China.”
Kim Gapsu’s son was studying in China and was said to frequently associate with the children of high-ranking Chinese officials.
“Senior Secretary for Foreign and Security Affairs Ban Jangwoo. He previously served as ambassador to China. He’s a strong candidate. He °• N 𝑜 v 𝑒 l i g h t •° also meets frequently with the Chinese ambassador to Korea.”
Ban Jangwoo had shed his uniform during the military regime and become a diplomat.
He had served as ambassador to China and was known to have extensive connections there.
“And lastly, Senior Secretary for Civil Affairs Woo Youngsik. It is said that he formed a close friendship with the current Chinese ambassador during their study abroad years.”
The moment I heard the name Woo Youngsik, I could not help but react.
“Woo Youngsik? Isn’t he the President’s closest confidant?”
“Yes. That’s correct.”
“And yet he’s considered suspicious? Are we certain?”
“There is no definitive evidence. But among the senior secretaries, those three are the only ones who appear suspicious. There are more among the lower secretaries.”
Even if the others were possible, Woo Youngsik was someone I hesitated to touch.
I asked, hoping it wasn’t him:
“What’s the probability it’s Woo Youngsik?”
“Over fifty percent.”
“That’s Black Bear’s estimate?”
“Yes. While tracing his past movements, they found questionable points. It appears he has maintained ties with China for quite some time. However, that alone is not enough to guarantee he is the spy the President mentioned.”
If the spy were truly Woo Youngsik, there was no telling how great the shock to the President would be.
The Senior Secretary for Civil Affairs was one of the most powerful positions in the Blue House.
Under President Yoon Changho’s administration, given his background, it was an even more crucial role.
When this government was launched, the media had loudly speculated about who would take that position.
When Woo Youngsik was appointed, people had nodded in approval.
The position carried such power because it oversaw the oversight institutions.
The Office of the Senior Secretary for Civil Affairs had authority over major investigative bodies—prosecutors, police, the National Tax Service, the Board of Audit and Inspection.
If such a figure were passing information to China, it would explode into a massive scandal.
‘No... before that, why would the President’s own friend do something like that?’
Even I could not understand such a move.
“How long would it take to secure evidence?”
“If the Blue House cooperates, it could be done quickly. We would leak information and monitor them.”
I shook my head.
The President could not move directly, which was why he had asked me.
“That would place too much burden on the Blue House.”
I briefly considered meeting them individually, but even that information could leak to China.
“Let’s just arrest all three.”
Manager Ma blinked.
“Are you sure? They are senior secretaries. This could cause problems later.”
“I know. But it’s difficult to catch them through conventional means. At times like this, it’s better to use a simple method. If they’re innocent, we’ll compensate them accordingly. Arrest all of them.”
“Understood.”
Sometimes the simplest method was the best.
“Check their schedules and bring them in all at once. The location...”
I briefly thought of the warehouse in Incheon, then shook my head.
If they were all spies, that would be one thing. But if even one was innocent, I could not drag senior secretaries to a place like that.
“Let’s use the villa in Gyeonggi Province.”
“Yes, Boss.”
After Manager Ma left, I sank deep into the sofa and muttered to myself:
“So this is how you want to play.”
If they struck at me—
I would return it double. Triple.
