Before the time rewind, he was (and still is) a specialist in relic restoration. He became known as the Fraud King, something which Chairman Kwon eventually became aware of. Jae-Ha met Joo-Heon through being on the same raiding team.
When Joo-Heon tries to seek him out in order to repair his relics, Irene informs him that he is 'dead'. She then recounts that he had sold her brother, George Hilton, a false painting. He was caught for the fraud and was presumed dead after his car fell down a cliff.He's later discovered to be alive when Edward called him on behalf of Chairman Kwon. Since he'd damaged his relic and needed it to be repaired. Something he agrees to.
Joo-Heon lures him out by requesting a relic restoration. His high-ranking relics making Jae-Ha try to scam him with false ones, running away with the real ones. He fails to do so, being caught by Joo-Heon's rope relic.
He is then approached to sign a 'slave contract' which is then reformed to an 'exclusive contract'. In order to rope him in, Joo-Heon offers an explanation for how Richard Chang (his tutor) stole Jae-Ha's art style. In addition to giving him back the elements of art and reputation that Richard had stolen from him.
