Black Corporation: Joseon Chapter 394

Episode 394: Small changes. (6)

The next morning, Sejong, who was sitting in his house, looked at his ministers and opened his mouth.

“Now that I think about it again. “Those who started a new fishing industry but failed will get caught.”

Hwang Hee, who realized the meaning of Sejong’s words, immediately asked.

“Do you want us to relax battlefield lending standards?”

“Wouldn’t it be better to try to figure out a way that doesn’t cause too much trouble? “It’s sad to see people struggling for a good future.”

“Your Majesty is worried, so I will think about it.”

As soon as Hwang Hee said anything, Heo Jo immediately retorted.

“It is absolutely impossible! If you do something wrong, the people may distrust the country!”

Hwang Hee raised her voice at Heo Jo’s words.

“They said it was impossible in the start-up review, but they are still working despite using high-value private loans! If we leave these people alone, people will say, ‘What has this country done for me?’ “Aren’t you worried about this?”

“We can’t destroy trust on the battlefield because of a few like that!”

“Isn’t it the same that there are still people who can’t repay their loans anyway? “Isn’t the ratio the same whether 10 people borrow and one person can’t repay, or 100 people borrow and 10 can’t repay?”

“I’m worried if one person fails, but if 10 people fail, it’s a big problem!”

“Wouldn’t it be more helpful for Joseon if 90 people succeeded than if 9 people succeeded?”

“Even if 90 people who borrowed 10 nyang of silver coins succeed, if 10 people who borrowed 10 nyang of gold coins fail, they will be ruined! “Don’t just play with numbers!”

Hyang, who had been watching quietly since the meeting started, muttered to herself as she watched the heated exchange of words between the two people.

‘It’s a war of words between rational optimists and rational pessimists…’

Both Hwang Hee and Heo Jo had something in common: a cool-headed analysis of national affairs. However, after such a cool-headed analysis, Heo Jo often gave negative results, and Hwang Hee tended to give positive results.

The reason why the two showed such differences was because of their values. Both men were true kingists who prioritized royal authority over divine authority, and they faithfully carried out what King Sejong wanted. However, when a problem arises, the two show different sides.

-In most cases, the king’s will is followed, even if it is somewhat unreasonable.

This was Hwang Hee.

– Avoid irrational moves by persuading the king as much as possible.

This was a lie. He valued the survival of the nation as much as the king.

And these two people were now clashing.

* * *

“Like Captain Cho said before, let’s live a little more positively! a little!”

“If you live only positively, you will ruin the country! “You have to see reality!”

Hyang, who was watching the exchange of words between the two, stepped forward and spoke to Sejong.

“Abamama Soja, I have something I want to tell you.”

As soon as the scent came out, Hwang Hee and Heo Jo stopped arguing and immediately turned their attention to the crown prince.

It wasn’t just Hwang Hee and Heo Jo. The eyes of all the ministers present were focused on Hyang.

‘What else!’

‘Looking at you now, it’s clear that you’re trying to interfere in this matter!’

‘her! If this happens, I’ll hear you clicking your tongue again!’

Unlike the ministers who were very nervous, King Sejong looked at the scent with joy.

“okay! Hehehe! “Tell me quickly!”

“I am devastated.”

Hyang, who expressed gratitude for King Sejong’s permission, coughed and cleared his voice.

“greatness! Huh! “As I was listening to the two people talking, an idea came to mind, so I committed the impolite act of interjecting.”

When Hyang apologized for interrupting, Hwang Hee and Heo Jo shook their heads.

“No.”

“It’s okay.”

The scent that had quietly set up a shield began to lay the groundwork.

“First of all, what the Minister of General Affairs said is correct. “The money brought into the battlefield is money stained with the blood and sweat of the people, so it is natural that it can never be spent in vain.”

Heo Jo, whose face brightened at Hyang’s words of taking his side, nodded.

“Amyo amyo!”

Hyang glanced at Heo Jo’s face and continued speaking.

“However, the Prime Minister’s opinion to make Joseon prosperous by giving more people opportunities so that more people can achieve success is also a good opinion.”

This time, Hwang Hee’s face brightened and the ministers looked puzzled.

‘what? Is this right and that right? ‘What do you mean?’

When Hyang saw the faces of the ministers, he muttered to himself.

‘I’m sorry. Elder Hwang Hee. ‘I’ll borrow it first.’

“Therefore, I would like to propose to Abama the creation of an ‘adventure capital safe.’”

“huh?”

“Eh?”

King Sejong and the ministers all uttered interrogative remarks at Hyang’s suggestion.

While analyzing the meaning of Hyang’s remarks, the first to understand were Sejong and Kim Jeom.

“Seja, what you are trying to say is that we should create a separate loan department for those who do not meet the standards of the Startup Review Department but still seem to have potential?”

“That’s right.”

“Since you said it is risk capital, there must be a difference from existing loans… Will there be a difference in the interest rate?”

“That’s right! “You saw it right away!”

The scent was explained in more detail.

-We support capital for the start-up of businesses that have not passed the screening criteria of the Ministry of Startup and Entrepreneurship, but still show significant potential.

-However, support is not unconditional. The grant of support is determined by considering the experience of the person requesting support and the relevance to the field in which the business is being started. All we need to do is to hold the standard a little more loosely.

-Because it is a loan that risks failure, a relatively high interest rate is charged. The loan interest rate of the Startup Review Department is 30% per annum, but the interest rate of 60% per annum is applied to venture capital.

-Because the rate is quite high, it gives support requesters a choice.

A (甲). We endure the application of an interest rate of 60% per year.

Eul(乙). Hand over shares of the company you founded. It is a kind of partnership, and the battlefield takes a 50% stake. If you select this, an interest rate of 30% per annum is applied.

“‘Bringing a stake’… Does this mean that if you succeed later, you will also share in the profits?”

Hyang nodded to Sejong’s question.

“That’s right. That is why the interest rate is also applied at 30% per annum.”

“Hmm…”

As Sejong stroked his beard and was lost in thought, Hyang added.

“The reason we added the word safe is to make it a separate department on the battlefield.”

“Separate department?”

“From borrowing funds to operating it, it is affiliated with the battlefield, but is operated separately from the operation of the battlefield.”

Kim Jeom, who was concentrating on Hyang’s words as if he wouldn’t miss a single word, asked a question.

“Does operating separate borrowing funds mean paying a higher interest rate to those who provided funds?”

“That’s right.”

In response to Hyang’s answer, Kim Jeom muttered as he worked hard to calculate the profit and loss.

“Hmm… if you do well…”

This was the same for King Sejong, who was weighing the possibilities at the party house.

“Hmm… If I do well, I guess I can also siphon off the wealth of those who used to borrow money?”

“That’s right. “On one side, we are pushing hard to stop illegal borrowing at high interest rates, and on the other hand, we are encouraging people to use venture capital safes, which have legal profit margins, which are lower than those for borrowing money, but still higher than regular savings.”

‘Of course, the thing that won’t disappear is underground finance, but we need to suck it up as much as possible.’

“Hmm…”

As if Hyang’s words were okay, Sejong nodded with a slightly brightened face.

At that time, Heo Jo raised a question.

“It’s literally an adventure, so wouldn’t you worry about losing your money if you invest and fail?”

To Heo Jo’s point, Hyang immediately came up with an answer.

“So we will also give investors two options.”

-the former. Just put the funds in the safe and leave the investment choices up to the safe.

-second. You can directly select the investment of your funds by looking at the data on the assets reviewed by the safe.

“In this way, in the case of A, we operate in a 10-per-equivalent manner so that even if we fail, we only incur minimal losses. Instead, even if successful, the profits to investors will be less. If you choose B, although the risk increases, the benefit to the investor will be overwhelmingly greater.”

Hwanghee’s eyes sparkled at the explanation of the scent.

“No matter which of the two you choose, the burden of coordination and battlefield will be greatly reduced?”

“yes. That’s what we’re aiming for.”

Following Hwang Hee, Heo Jo also nodded.

“No matter which case you choose, it is your own choice, so it will be difficult to hold the government accountable. Hmm… seems okay.”

‘If I do something wrong, there will be a lot of people who want to experience how strong the beams of their house are, how deep the reservoir in front of the neighborhood is, or how warm the water flowing in the cold water is.’

While Hyang was muttering to himself, Heojo spoke to King Sejong.

“I think it’s a good solution. “The burden on the government and the battlefield will be reduced, and more people will have the opportunity to start a business.”

“Do you think so too?”

When Heo Jo, who was known for being strict, responded positively, King Sejong’s face brightened.

At that time, Jo Gye-saeng, the Minister of Education, intervened.

“majesty! “It’s a good idea, but it definitely shouldn’t be implemented like this!”

“Why?”

When King Sejong asked the reason, Jo Gye-saeng explained the reason.

“Humans are naturally greedy creatures, so they don’t think about the future…”

“There will be people who pour all their wealth into people without thinking about the risks.”

Jo Gye-saeng, who had paused for a moment as King Sejong spoke to him, immediately nodded.

“That’s right.”

“Hmm…”

Sejong pondered for a moment and then turned to look at the scent.

“Crown, would you rather have a fixed term or a fixed rate?”

Hyang immediately answered King Sejong’s question.

“It’s both. “When people with a lot of wealth make personal investments, it would be better to apply a flat rate, and when people with less wealth want to invest, it would be better to allow them to receive only a set amount depending on the size of their wealth.”

“Will those with little wealth get involved?”

“As the Minister of Education said, this is because humans are naturally greedy beings.”

Sejong nodded at Hyang’s words.

“yes. People are greedy beings. Minister of General Affairs.”

Heojo immediately responded to King Sejong’s request.

“It may need a little more refinement, but I think it’s the best solution.”

“Prime Minister?”

“God also has the same intentions as the Minister of General Affairs.”

“Then, finally, what about the Minister of Finance and Economy, who will be at the center of this matter?”

Kim Jeom immediately answered King Sejong’s question.

“It is a good plan, but few people will take action right away. So, I think we need to release more of the gold and silver we have accumulated to create initial capital. “If you have good results using that initial capital, everything else will go smoothly.”

“Let me do that.”

King Sejong, who immediately accepted Kim Jeom’s words, turned to the ministers.

“As the people’s resistance increases and Joseon’s governance capabilities grow, our Joseon will become stronger, so I hope that you will do your best for this.”

“I follow your orders!”

In this way, the world’s first venture capital finance, officially recorded in official documents, was born.