Chapter 86
Chapter 86
Articles about the search and seizure of K Company have been pouring out mainly in foreign media and internet media.
After the Brexit incident, K Company has established itself as the most famous investment company in Korea. When it became known that such a company had been searched and confiscated and that even the CEO, Park Sang-yeop, had been summoned to the prosecution, public attention drew attention.
The prosecution responded as if waiting.
‘The search and seizure was conducted according to the usual procedure.’
‘At the same time, CL Chemical and Rete Shopping were also seized and searched.’
‘We have received a specific report on the tax evasion allegation, and we are currently investigating.’
‘It never has a political purpose.’
Conservative media outlets, including the three broadcasting companies, poured articles defending the government.
In particular, the Cho Joong Ilbo openly criticized K Company.
[K Company, respect Korean law and order!](strategy)
······ Furthermore, considering that raids and searches were carried out at large corporations around the same time, there is no doubt that it was carried out according to the usual procedures.
It is natural for the prosecution and the National Tax Service to investigate companies suspected of illegal and tax evasion.
If there is no crime, it is enough to take part in the investigation confidently. It is misleading the essence of talking about a political purpose and arguing with public opinion.
It should be borne in mind that in a democratic country no company can rule above the law.
It didn’t end here.
Then, news broke out that the parent company of K Company was OTK Company and that the CEO of OTK Company was urgently arrested at the airport.
[Establishment with funds from K Company OTK Company][Emergency arrest at the airport of OTK Company CEO][It turned out to be a Korean young man in his 20s][Prosecutors start intensive investigation into OTK Company in connection with the Financial Supervisory Service][It is estimated that options were traded through insider trading of OTK Company][Announcing our position that we will severely punish financial crimes]Despite the fact that OTK Company has gained worldwide fame, little is known about it. It is surprising that K Company is a subsidiary, but that was nothing compared to the fact that the CEO was a young Korean in his 20s.
The impact of this article was much greater.
The internet has been really hot.
-I heard it was Koreans in their 20s who earned hundreds of billions of dollars during the L6 explosion and tens of trillions of dollars during Brexit? – Even a high school graduate.
– With what money did you establish OTK Company?
– How did you make that much money?
– You also acquired Chrysler this time.
– Totally awesome!
– Then why were you arrested?
-Well. What sin have you committed?
– I think he just hated the government.
– So, what happens to the US auto industry?
Reporters rushed to the Seoul Central District Prosecutors’ Office with cameras and microphones all at once.
The prosecution gathered reporters and announced the progress of the investigation.
“OTK Company was established in a tax haven, and the source of the founding funds is unclear. In addition, the allegation of taking unfair advantage of trading using insider information was confirmed. After finding out the fact of entry, he was arrested at the airport, and the current foreign exchange
We are intensively investigating violations of the Management Act and the Financial Transactions Act.”
same time.
Prosecutor General Hong Man-ho received a phone call from the Blue House Secretariat.
He asked, being absurd.
“What, what? Are you saying you arrested the wrong person now?”
[That’s right. The CEO of OTK Company is Jinhoo Kang, not Taekkyu Oh.]“·················ogue.”
The fact that the CEO of OTK Company has already been arrested has been known around the world. As the OTK Company is related to the Ronald election campaign, there was a stir in American politics as well.
What if it turns out that you are investigating a completely different person?
Hong Man-ho felt a cold sweat running down his back.
‘If you do this wrong, the prosecution will look like you.’
* * *
OTK Company sent an e-mail to all domestic and foreign media outlets saying that they would make a major announcement.
That alone is surprising, but an urgent report came from an NIS employee who was inspecting the area around the company.
There were suspicious people around, so when I caught them, they found that they had pictures of them. It turned out that they hadn’t been around for a day or two.
“Looks like they were constantly watching us!”
“What do you mean?”
Did you inspect the inspecting NIS staff?
Yoon Se-won, head of the National Intelligence Service, was astonished.
This kind of response was completely unexpected. In general, when the government points its sword, companies tend to save themselves.
If you do it wrong, you may end up biting one side until the end.
Politics and economy never move separately. Therefore, even if they fight for a while, they eventually find a compromise.
Confiscation and search and arrest are common experiences even in large corporations. But that doesn’t make the government and corporations enemies.
The president’s term of office is fixed, but in the current climate, it is highly likely that the next government will also be born from the Korean family.
Even the Suseong Group, which has a market cap of more than hundreds of trillions, and the Eunsung Group, which has a market cap of more than 100 trillion, bowed their heads at the president’s words. No matter how famous OTK Company is, its market cap is only about 50 trillion won.
‘I don’t think I can think of it that much…’
But why do I keep feeling ominous?
After thinking for a moment, Se-won Yoon realized the difference between OTK Company and chaebol groups.
Korean chaebols control the entire group with a minority stake. For example, the sum of the stakes of only the head of the Suseong Group is about 3 percent.
With that 3%, it will influence all affiliates through circular shareholding. As a result, management rights and succession structures are inevitably weak.
Moreover, most chaebol heads are not free from embezzlement and breach of trust. If the legal standards are strictly adhered to, half of the officers will be arrested.
Also, chaebols hope to amend laws to their advantage and receive government support.
In a nutshell, the government pays attention to it because it has many weaknesses and many hopes.
So, what about OTK Company?
It is estimated that the company purchased put options worth over KRW 10 billion during the L6 crisis. If so, where did the funds come from? Also, has there been no illegal activity during the investment so far?
There’s no one who doesn’t dust off. If you do your research, you will definitely find one.
By the way······.
What if there are no weaknesses? So what if you don’t mind?
There are currently two things the OTK Company can stumble upon. One is the temple issue, and the other is the arrest of Oh Taek-Gyu.
‘Are you sure you don’t intend to expose the temple?’
Last year, it was discovered that the Prime Minister’s Office for Public Service Ethics had conducted extensive inspections on civilians.
It was a problem that the regime could be blown away if done wrong, but North Korea conducted a nuclear test for the rest of its life. The three broadcasting companies and the conservative media all stopped reporting on the inspection incident and focused on the North Korean nuclear issue all at once.
Thanks to this, only a few of the lowest-ranking employees who participated in the temple were able to finish at the line where their positions were dismissed.
Will we be able to go through this again?
Yoon Se-won spoke to Prosecutor General Hong Man-ho on the phone.
“Is there any way to stop the press conference?”
[How?]If it was the era of the military regime, it would be enough to put in even Baekgoldan and bring it out. But in this day and age, it is impossible to do that.
“How about arresting Jin-hoo Kang? Since he is the CEO of OTK Company, can he not be arrested enough?”
Hong Man-ho said in an angry voice.
[Do you know what the prosecution is saying now? What does the court claim for a warrant? Shall we claim to arrest the CEO again with the CEO arrested?]“that’s······.”
[Do you think the press conference will be interrupted by arresting Jin-hoo Kang? Are you Hyunjoo Oh? Will he even arrest the Golden Gate Korean branch manager? After that, shall we catch all of Park Sang-yeop and Ellie Kim?]“·················ogue.”
That’s right. This is not a problem that can be solved by grabbing one after the earthquake.
[The National Intelligence Service should take care of it.]After finishing his speech, Man-ho Hong hung up the phone.
‘Damn it!’
The situation was much more serious than expected.
Yoon Se-won quickly gave the order.
“Contact Jinhoo Kang directly! Stop the press conference somehow!”
* * *
Before the press conference, I told Sangyeop senior.
“If I can’t come back before the election, invest as directed. If there are any changes, I will talk to you through a lawyer. “Okay.”
If Diane is elected, there will be a relief rally, but if Ronald is elected, the world economy will shake again.
This is an opportunity for us to make big money.
Hyun-joo’s older sister asked while smoking.
“Are you ready?”
“Yes.”
Actually, I’m a little nervous. I’m no celebrity, and I’ll be holding a press conference in my lifetime.
“When Taek-gyu comes back, please tell him that you’ve worked hard.”
“Wait. My hair is messy.”
Ellie reached out her hand and touched my hair. She then looked at my face and she smiled.
“It’s great today. Come back safely.”
“Thank you.”
It looks like they are going to do something very big.
The K Company employees were watching me from behind. Before I left, I said to Ki-hong.
“I’m sorry I haven’t talked to you for a while, senpai.”
Senior Ki Hong smiled awkwardly.
“no. Well, it could be. I still can’t believe it.”
“When we come back, we’ll have a drink and talk in detail.”
“uh. OK.”
“I will go.”
I left everyone behind and headed to the press conference room.
Suddenly, the phone in my pocket rang. The number was not displayed on the screen as if there was a caller restriction.
Guess where I’ve been walking.
How did you get this number?
Once I got the call
“Hello.”
A tampered male voice was heard.
[Stop the press conference.]“Who are you?”
[This is a problem that can be resolved by negotiating with each other. You’d better not do anything you’ll regret.]
“What kind of negotiation?”
[If you want something…]“Okay, tell the guy who told you to call.”
I caught my breath and spoke politely.
“From the moment I touched my friend, the negotiations went downhill. Let’s see who wins, you bastards.”
[Come on, wait a minute….]Quang!
I threw my phone on the floor without needing to listen anymore. Then he trampled on it with his feet and completely crushed it.
* * *
Reporters gathered in the lobby of K Company’s office building without a break. There were three domestic broadcasting companies, as well as major newspapers, and foreign media such as CNN, BBC, NHN, and CCTV.
There was already a stage for the press conference on the side of the stairs, and a 100-inch TV connected to a computer was prepared next to it.
I got up on the podium.
Countless cameras shot my face. Perhaps some of them are being broadcast live.(Read more @ wuxiax.com)
Tonight’s news will be covered in my face, but I won’t be able to lie on the couch and watch it.
I said looking into the camera.
“My name is Jinhu Kang. You must be busy, but thank you for coming here. You are well aware that K Company was raided and the CEO of OTK Company was arrested at the airport and under investigation. on that case
We will announce the position of OTK Company next year.”
I first talked about the fact that K Company employees were inspected.
“It has been confirmed that not only call details but also financial transaction details have been inquired, and that they have continuously grasped the surrounding trends.”
A reporter raised his hand.
He was a reporter for MBS, called the trumpeter of the press.
“How are you sure it is a temple?”
“I’ll show you.”
I turned on the TV and uploaded a picture. These were photos of men and women walking around the office building and near the houses of employees.
When I turned the screen, the dates were different, but overlapping faces continued to appear.
“The photos will be sent to each press separately. If you check who they are and where they belong, you will know.”
After learning that they were being inspected, we mobilized a professional security company to find the inspectors.
Some of the employees of the bodyguard companies were from the National Intelligence Service or special forces, so they knew better than anyone about the physiology of the floor.
In other words, they inspected the inspectors again.
“If there is a crime, we should call and investigate, and it is clearly illegal for public officials to follow civilians and report trends. Once their positions are confirmed, they will have to take responsibility for not only those people, but also the related organizations to which they belong.”
Tack Tack!
Journalists dictated on their laptops and posted the news on the Internet in real time.
“K Company was inspected by the National Intelligence Service, and seized and searched by the prosecution and the National Tax Service. Then, he was brought to the prosecutor’s office, Park Sang-yeop, and received an intense investigation. So what did you find out? This is a political investigation
You can’t see it other than that. In addition, the prosecution has urgently arrested the CEO of OTK Company without any evidence and is investigating the case.”
A reporter shouted.
“Isn’t the CEO of OTK Company arrested on suspicion? Isn’t there a political purpose to make such an announcement when the results of the investigation by the prosecution have not yet been released?”
He was none other than a reporter for the Chojung Ilbo, the largest newspaper in Korea. This is a good question as a representative of Giregi.
“The most important thing is that the person currently under investigation is not the CEO of OTK Company. The fact that they were arrested without even checking who they were is a sign that the prosecution is investigating to suit the taste of the current administration.
Would you not like it?”
At my words, the reporters all looked lost for words.
In a way, this was even bigger than the NIS’s illegal inspections. The arrest of the CEO of OTK Company was an issue in the media around the world, and the prosecution even made a statement regarding the allegations.
But you arrested the wrong person!
If this were true, the question would be for what purpose the warrant was requested, how it was issued, and who gave the order.
Questions from reporters poured in.
“How are you sure of that?”
“Then who is the CEO of OTK Company?”
“Who are you?”
“What is your relationship with OTK Company?
I looked at dozens of cameras. And I smiled and said to someone who was watching me.
“I am the CEO of OTK Company.”
