[Hansungak. It's Maehwa Room.]
I owed Hanul quite a bit, and I also wanted his advice, so I decided to treat him to dinner tonight.
Hansungak was a traditional Korean restaurant in Gangnam. The lunch special cost 30,000 won, and the dinner menu started at 50,000 won per person. It had plenty of private rooms, which made it ideal.
Conversations about business were best had in such private places.
*Clatter.*
The door opened, and Im Hanul stepped in.
"You're early. Been waiting long?"
"No, I just got here too."
"You didn't have to treat me. A simple bowl of gukbap would've been enough."
"How could I do that? I owe you a lot."
He smirked and took off his coat.
"You realize you owe me, huh?"
"Of course I do. Thanks."
"Geez, don't get all sentimental. Did you order yet?"
"Nope. Pick something."
"I'll have the 'Nan Course.' The galbijjim here is really good."
"Really? Two Nan Courses, please."
I placed the order with the staff member who followed Hanul in, and we sat facing each other. It was the first time I'd eaten in a private room since I got indicted, and it made me feel oddly unsettled.
'Reminds me of company dinners.'
An annual salary of 40 million won. It wasn't bad for living alone, but not enough to support a wife and daughter. With just 200,000 won of spending money, I could never have come to a place like this unless it was for a company dinner.
'Now I make a billion won a day. Look at you, Kim Jaegu.'
I couldn't help but grin.
"This place isn't cheap. You sure your wallet's okay?"
"I'm rich now."
"Damn, got a little money and suddenly I'm not 'hyung' anymore? Get lost."
"Just messing with you."
Hanul chuckled.
"Well, thanks for the meal then."
"Eat up. Want to order drinks?"
"Nah."
He waved it off.
"Let's talk while we're sober. We can drink at the second spot."
"Fair enough."
"So, you're thinking of starting a company?"
"Yeah. Thought I'd try my hand at business."
"Business is risky, you know."
He raised an eyebrow, frowning slightly.
"I'll give it my all."
I didn't actually plan to run the company myself. Managing money was already time-consuming enough—I didn't want the added hassle of management.
Still, there were three reasons I needed to start a company.
First, to invest and manage money under someone else's name. I'd use a corporation to make investments and manage funds, and with part of the capital, I'd slowly start acquiring shares in Dokgo Group.
If I aggressively bought shares under my name, it'd raise red flags. When an individual buys large volumes of stock, it's easy to guess their intentions.
'Especially if that individual was the one who had you thrown in jail.'
The process that landed me in jail was clearly not legitimate. I didn't even get a second trial before being found guilty.
'Someone definitely pulled strings.'
The president of Kangmyung Trading, where I worked, wasn't the type to pull that off.
'It must've been Dokgo Jung.'
I would buy some shares under my own name—enough to make them think that was all. While they were busy responding to that, I'd make my real moves through corporate entities. By the time they realized what was happening, it might already be too late.
Just thinking about getting revenge made me feel great.
Second, taxes. From next year, a Financial Investment Income Tax would apply to all stock transactions. For now, as long as I didn't become a major shareholder by year-end, I didn't have to pay taxes on stock earnings. But I didn't expect this war to be over in just a year.
'Investing a large amount of money all at once could also be tracked via cash flow.'
It would be too risky to suddenly transfer hundreds of billions of won as an individual. So, I decided to spread it out and build up corporate accounts in advance.
'And I could save on dividend taxes too.'
If an individual earned more than 20 million won in dividends, they had to pay comprehensive income tax.
Dokgo Commerce, a subsidiary of Dokgo Group run by my ex's lover Dokgo Jung, had a market cap of 300 billion won. Even owning just 10% would mean 30 billion won. Assuming an average annual dividend yield of 2% over three years, that was 600 million won in dividends.
Do you know how much tax you pay on 600 million won in dividends? Over 230 million won. But as a corporation, it would only cost around 132 million.
'What a bunch of robbers.'
Seeing government workers waste taxes by ripping up pavement and going on luxury overseas trips made my blood boil.
'And don't even get me started on the politicians.'
Lastly, I didn't want my name appearing on any rich lists for a while. If I kept investing under my own name, I'd surpass 10 billion next month, and from there, exponential growth would make my wealth impossible to hide.
'I don't want to attract attention until the revenge is complete.'
I wanted to stay hidden until I was sure the enemy had no way out.
So I needed to establish a corporation.
"Your meal is here."
A delicious full-course meal was laid out on the table. The galbijjim in the center looked especially good.
Hanul rubbed his hands together and picked up his chopsticks.
"Jaegu, thanks for the meal."
"Order more if it's not enough."
Words I could never have said back when I lived on 200,000 won of pocket money. Being able to say them now to a close friend felt amazing.
"So, what kind of business are you planning?"
"I heard smart stores are popular these days."
"For what?"
"Thought I might try selling some miscellaneous goods."
"That's pretty modest."
Hanul chuckled.
"I thought you'd go for something more ambitious."
I didn't want to involve him in my real plan. I didn't intend to fail, but in case anything went wrong, I wanted him out of the blast radius.
"So what do you want me to teach you?"
"How to register a corporation. I'm going to recruit investors for equity, but I don't plan on going public. Can you show me how to set investor shares?"
"Alright. I'll send you a message later. Just listen for now."
Hanul started talking like a waterfall. From registering a corporation, raising investments, and setting equity shares, to documenting everything. He shared insights and real-life examples from experience.
"And lastly—"
He explained about startup support centers worth visiting for investment. If you lacked initial capital, you could receive funding as long as you had the paperwork ready.
"You're 34, right? So that's 32 by international age. You could apply to a youth startup program."
"It's nothing that grand."
"Want me to introduce you to a tax accountant and a legal expert?"
"If I need them later, I'll ask."
It was better to find them myself.
'I haven't even found a front man yet.'
When registering the corporation, using my name would quickly give me away. Fortunately, for unlisted companies, ownership doesn't have to be disclosed unless made public, so I decided to take advantage of this loophole.
'I'll have to set one up in the U.S. soon too…'
But that was a matter for when I had more money piled up. For now, I would focus on the things I could do immediately.
"Any other questions?"
"No, thanks."
Thanks to his explanation, the bits of information I'd gathered online started to piece together in my mind.
Now, all I needed was a figurehead representative, and I could set up the corporation right away.
"Then let's forget the business talk now—how about we drink the night away like old friends?"
"We were already eating, weren't we?"
"But we haven't had any alcohol!"
Im Han-ul grinned.
"Alright, let's order some."
***
Monday morning. I began my day at 9 AM by entering the stocks I wanted to track.
Instead of taking a crowded bus, I decided to drive my Bentley to Gangnam.
Thanks to a visit from a Superior Motors employee yesterday, the black Bentley was gleaming luxuriously.
'At least they wash the car well.'
When I started the engine, the driver's seat adjusted to fit me, and the soft leather seat embraced my body. Looking at the classic cockpit that resembled a luxury watch, I already felt like a CEO.
'Man… never thought I'd be riding a luxury car like this.'
Even the CEO of the company I used to work for never had a car this nice.
Vroooom.
As I stepped on the accelerator, the car smoothly picked up speed. With a low, deep growl, the 626-horsepower engine pumped powerfully, and the speed quickly increased.
I had merely rested my foot on the pedal, but it reached 100km/h in an instant.
'The speed is insane!'
But what felt even better was how other cars yielded to me. When I drove an old domestic car, other drivers would block my way and not budge. Now, they gave me space and cleared the road. I didn't weave through them aggressively, as I was used to defensive driving, but just having the road open wide ahead of me felt so liberating.
'Driving has never felt this comfortable.'
No one tried to cut in, no one tailgated me aggressively. All I did was change the car, and people's attitudes completely changed.
'Money really does change everything.'
Since the rush hour had passed, the roads in Gangnam weren't too congested. I decided to tour several real estate offices starting with those that had listed the most office spaces online.
'It's good to do some legwork. The stock trading program handles everything anyway.'
My smartphone in my pocket gave me such a sense of security.
To establish the corporation, I needed two things: someone to act as the CEO in name only, and a location for the company.
I couldn't immediately find a figurehead CEO, but securing an office was a different matter. Perhaps due to the ongoing bear market, there were quite a few vacancies, so it was worth checking out.
I parked my car by the curb in front of a real estate office.
'There are other cars parked too, so it should be fine.'
As I entered the office, it smelled like someone had just eaten.
"Welcome."
The agent got up and glanced at me.
"Sir, is it okay to park outside like that?"
"Yes, it's fine. Just finishing my meal—please help yourself to some coffee."
I felt a bit ignored, but they say you shouldn't disturb someone while they're eating.
At least they had a fairly nice coffee machine, so I made myself a cup with a positive attitude. The bitter aroma of coffee was pleasant.
With the coffee in hand, I looked at the map on the wall. Development zones and apartment projects were highlighted.
'So, new buildings are going up around here.'
While I was studying the development plans, the agent approached. I could feel him subtly scanning me.
'Maybe I should've worn something nicer.'
My tailored suit would arrive soon, but for now, I just decided to endure it. Still, being looked at like that was a bit annoying.
The agent finally spoke.
"What brings you here today?"
"I'm looking for an office."
"An office? Do you have any specific requirements?"
"Good soundproofing would be ideal."
"Looking to rent?"
"Yes."
Rent could be processed as an expense, which was advantageous for tax purposes.
"Soundproof, huh… As you know, property prices in Gangnam are a bit high."
"Is there anyone in Korea who doesn't know that?"
I stayed silent for a moment, and he quickly waved his hand.
"Oh, no—I didn't mean it like that… Hmm, let's see. What area are you looking at?"
"Somewhere with convenient transportation."
"And the size?"
"Doesn't matter."
I just needed a space for a computer and a place to rest. A fancy office could come later.
"Give me a moment."
He started searching listings on his computer.
A few minutes later, he returned with some printouts. He pointed at the wall map with a stick while looking over the documents.
"There's a 10-pyeong officetel over here with a 10 million won deposit and 1 million won monthly rent. And over here…"
He gave a passionate explanation. Despite being in Gangnam, the prices were surprisingly affordable.
"The price seems low. Is it a good property?"
"Would you like to see it? I think you'll be quite pleased."
"Sure."
"Give me just a moment. Where are those keys… Ah, found them!"
The agent came rushing out with car keys.
"Let's go."
As we stepped outside, his eyes went straight to my Bentley. Even parked between a BMW and a Benz, it stood out.
"Oh wow, what is this?"
He circled the car curiously.
"Nice ride. But who just parks in front of someone else's shop without leaving a number? Honestly, some people have no manners these days. Don't you think?"
Why was he saying that to me?
"You said earlier that it was okay to park there."
"Oh, right. By the way, if we're going to check out the property, it's better to move your car. Where's your vehicle parked, sir?"
Beep.
I pressed the key fob instead of answering, and the Bentley responded.
"Where should I park?"
The agent's eyes widened like saucers.
"Sir!"
"Yes?"
"Now that I think about it, I've got *much better* listings to show you."