Mining And Construction Tycoon [EN]: Chapter 151

151. The KEF (4)

“You know those ready-mix concrete trucks and ladder trucks from Taeyang Heavy Industries are a hit, right? They’re currently out of stock, and we’ve already received reservations worth 130 billion won.”

The ready-mix concrete trucks and ladder trucks from Taeyang Heavy Industries were a huge success.

These days, you can often see Taeyang Heavy Industries equipment on construction sites.

It’s said that once you use Taeyang Heavy Industries equipment, you’ll buy it again.

“Taeyang Oil, Taeyang Electronics, Taeyang Electric, Taeyang Windows, Taeyang Chemical, Taeyang Timber, Taeyang Securities, and Taeyang Insurance. And Taeyang Cement, Taeyang Mining, trading company, and so on.”

Jang Jun-yong looks around.

“I heard that all of them have seen a 300% increase in sales compared to last year? Everyone else is struggling with deficits due to the oil shock, but the Taeyang Group is rising.”

The Taeyang Group’s subsidiaries have been known for their stability since before the acquisition.

Most companies are facing bankruptcy due to the oil shock.

Even a single company is so big that most major corporations can’t even compare, and all of them have seen a 300% increase in sales.

‘Taeyang Group’s rise is terrifying.’

‘When you think about it, he became a *chaebol* [a large South Korean business conglomerate] in just three years of business.’

‘I don’t know how much bigger he’ll get next year.’

Jang Jun-yong smiled.

“Everyone knows why the KEF [Korean Economic Federation] collects public funds to elect a chairman, right?”

The reason why the KEF collects public funds is simple.

It’s to bribe those in higher positions and gain benefits through lobbying.

This is because the Park Jung-hwan regime is seeking national development through the heavy and chemical industries and manufacturing.

The government is distributing work to *chaebol* companies through the projects it is promoting.

“Chairman Kang, can you show us that? The one you received from the President.”

“This one?”

Tae-soo took out a silver lighter from his pocket.

It was an item with the Blue House [South Korean presidential residence] emblem prominently displayed.

Reactions were sharply divided.

“Isn’t, isn’t that the President’s lighter?”

Park Jung-hwan, a heavy smoker, cherishes that lighter.

The members sitting in the upper seats recognized the item because they often had the opportunity to meet Park Jung-hwan.

However, the members sitting in the lower seats had puzzled expressions.

Jang Jun-yong pointed to the lighter Tae-soo was holding and said,

“What did the President say when he gave you this?”

“Anything. As you wish.”

It was as quiet as if cold water had been poured on them.

The KEF members now clearly realized the value of this lighter.

‘It means he has the right to make requests to Park Jung-hwan independently.’

‘Amazing, Taeyang Group. How did they get such a lighter?’

Gratitude and envy began to fill the gazes directed at Tae-soo.

The atmosphere is not to Han Cheong-ho’s liking.

Han Cheong-ho scoffed.

“I can also make requests to the President.”

“So, Chairman Han, do you have a lighter?”

Han Cheong-ho fell silent at Jang Jun-yong’s words.

“Do you have it, or not?”

He doesn’t have it.

“If you don’t have it, don’t say anything.”

He’s frustrated.

“Hmph, just a lighter!”

“Then, what if we use this lighter to make a request on behalf of the KEF?”

The eyes of the KEF members change at Jang Jun-yong’s words.

Jang Jun-yong looked around at the members and said,

“No, let’s be honest, how many people here have met the President alone? Raise your hand if the President has ever been in the VIP room at our Geumsan Hotel.”

It’s quiet.

Jang Jun-yong turned to Tae-soo.

“We’ve shown a new member something unsightly.”

“No. Let’s just clarify one thing.”

Tae-soo also looked at Han Cheong-ho and said,

“Chairman Han, you keep saying I’m not qualified, but does that mean the people who recommended me guaranteed someone unqualified?”

Only then did people look at the people who had recommended Tae-soo as a new member.

Samcheong, Lucky Seven, Geumsan, Daehan Oil, and Pohang Iron and Steel.

Their expressions were not good.

Han Cheong-ho scoffed.

“So, I have to ask again. Do you still want to recommend the Taeyang Group?”

Lee Byung-chun of Samcheong raised his hand and said,

“Samcheong’s opinion hasn’t changed. The Taeyang Group is fully qualified to join the KEF.”

Goo Ja-gyeom of Lucky Seven said the same.

“Lucky Seven agrees.”

Of course, Jang Jun-yong of Geumsan and Park Tae-jong of Pohang Iron and Steel also agreed.

Kim Dong-jo of Daehan Oil also agreed to Tae-soo’s membership.

“Chairman Han, all five members say they have no intention of withdrawing their recommendations.”

Jang Jun-yong of Geumsan put a proper end to it.

“In accordance with the KEF’s internal regulations, we approve the membership of Taeyang Group CEO Kang Tae-soo to the KEF. Therefore, we will not accept any further objections to this matter.”

Jang Jun-yong glared at Han Cheong-ho.

“You’re doing whatever you want. You’re already acting like this; I’m worried about how chaotic it will be if you become the chairman.”

“So, let’s hold the chairman election quickly.”

Han Cheong-ho gritted his teeth as he looked at Tae-soo sitting in the lower seat.

“It won’t be too late to discuss the qualifications of new members then.”

Thus, the KEF’s next chairman election began.

* * *

It’s time for the chairman candidates’ speeches.

Jang Jun-yong recommended Park Tae-jong.

Geumsan was pushing Park Tae-jong as Han Cheong-ho’s rival.

Park Tae-jong stood up and said,

“If I, Park Tae-jong, become the chairman of the KEF, I can frankly convey the difficulties of the business community to the President.”

That advantage was very significant.

Park Tae-jong is one of Park Jung-hwan’s closest confidants.

He was someone Park trusted and relied on to the point of entrusting his family to him before the coup.

“Before taking responsibility for Pohang Iron and Steel, I, Park Tae-jong, was the chief of staff of the Supreme Council for National Reconstruction and fostered the public-private partnership Daewoon Joongseok. I also serve as an economic advisor to the Blue House.”

So much so that when the Saudi royal family sent a troublesome letter, Park Jung-hwan personally came down to Pohang to consult with Park Tae-jong.

“I have been an economist and businessman for over 10 years. Therefore, I will be able to give advice to the President from the perspective of a businessman.”

A thunderous applause erupted.

Then Han Cheong-ho asked.

“Haven’t you all forgotten why the KEF was created? It sounds like you’re handing over the reins of the business community to the regime’s henchman.”

The KEF was created for two purposes.

The first was for Park Jung-hwan to control the market, and the second was to pursue the interests of *chaebol* companies.

The applause gradually began to die down.

“What does that mean?”

“Who doesn’t know that Director Park is the President’s confidant? I’m a little worried about what will happen if we put such a spy in the position of chairman.”

The people gathered here are basically entrepreneurs who are under pressure from Park Jung-hwan.

“Shouldn’t we see requests and spies a little differently? Don’t you think?”

Park Tae-jong burst into anger.

“A spy! A henchman of the regime! Reins!”

“Why are you so defensive? I dug up too much truth, I guess.”

“It’s speculation and slander! Don’t frame me!”

“It’s a valid question. Isn’t this something we can naturally ask during the candidate verification period?”

Public opinion leaned towards Han Cheong-ho.

Park Tae-jong added a few more words, but the cold public opinion did not turn around.

Jang Jun-yong of Geumsan sighed.

‘Being the President’s confidant has become a shackle.’

It’s already burdensome enough to have Park Jung-hwan suppressing them.

Anxiety crept in that Park Tae-jong would hand over the KEF to Park Jung-hwan.

Han Cheong-ho didn’t stop there.

“Also, Director Park of Pohang Iron and Steel rarely shows his face at KEF meetings.”

He was holed up in Pohang and didn’t attend meetings well.

“KEF meetings are usually held in buildings owned by the chairman, but if Director Park of Pohang Iron and Steel becomes the next chairman, do we have to go down to Pohang every month?”

That’s a problem!

“Or should we rent a different company’s conference room every month and hold a luncheon meeting? Or make a reservation at a truck stop restaurant?”

That’s not good!

The *chaebol* CEOs gathered here are not ordinary people.

Renting an office and making reservations at a truck stop restaurant was unpleasant just to think about.

Public opinion changes with Han Cheong-ho’s eloquence.

Jang Jun-yong lamented inwardly.

‘Park Tae-jong will have a hard time like this.’

Han Cheong-ho, the next chairman candidate, stood up and said,

“Is it my turn now? I think everyone knows the status of Cheongil without me having to say it.”

Cheongil’s ranking in the business world this year is 13th.

“And everyone recognizes my specialty, right?”

Han Cheong-ho has many nicknames.

A *chaebol* CEO who does politics, a businessman who is better at lobbying than business, a parasite of the regime, a specialist in bribery, a political insider, a grabber of vested interests, and so on.

“I think most people evaluate me as being better at politics than business. Is that really a disadvantage as the chairman of the KEF?”

It’s actually an advantage as the chairman of the KEF.

Isn’t lobbying what the KEF is pursuing by collecting public funds?

“You all know better than I do that I’m better at using bribes than anyone else.”

So much so that there’s a saying that Cheongil is a company built on bribes.

Han Cheong-ho often received criticism from other *chaebol* companies for that point.

“I’ll make you one promise. As long as I’m the chairman, I’ll cover your backs for sure. You all know what I have.”

Han Cheong-ho has a secret ledger.

He had already been threatened once before joining the KEF meeting.

“I’ll leave it up to you to decide who is more suitable as the next chairman. Me, Han Cheong-ho, or that dog of the regime, Park Tae-jong.”

A roar of cheers erupted.

Jang Jun-yong closed his eyes tightly.

‘It’s over. There’s no rival. I thought I barely secured a majority.’

It was then.

Tae-soo quietly raised his hand from the lower seat.

“Can’t new members recommend chairman candidates?”

The atmosphere that had been enthusiastic about Han Cheong-ho stopped.

“Of course you can. Now that you’re a member, you can not only recommend candidates but also participate in the chairman election. Why? Are you going to become the next chairman?”

Everyone focused on Tae-soo.

‘I’m already too lazy to work, so I refuse to take on the KEF’s chores.’

Taking on something like that only increases the amount of work and attracts more flies.

Tae-soo said firmly.

“I would like to recommend the reappointment of Chairman Jang Jun-yong of Geumsan.”

“Reappointment?”

Everyone was puzzled.

There has never been a chairman’s reappointment before.

“You seem to not know, but it’s customary to step down after serving a two-year term.”

Lee Byung-chun of Samcheong, the first KEF chairman, also cleanly served his two-year term and stepped down.

The same is true thereafter.

“Custom? Is a custom that is not even in the internal regulations the standard?”

Tae-soo brought the KEF internal regulations that had been left unattended over there.

It was the same document that Tae-soo had taken out of his pocket earlier.

“There is no provision prohibiting reappointment in the KEF internal regulations.”

The internal regulations that Tae-soo brought were once again in the spotlight.

“The US president is reappointed, and our country’s president is also reappointed, so why can’t the KEF chairman be reappointed?”

That’s right.

Why didn’t they think of reappointment?

Park Jung-hwan is reappointed even by amending the constitution.

“Please check.”

This time, someone quickly took the internal regulations and read them busily.

“There is definitely no clause prohibiting reappointment.”

“That’s right. It just says, ”

Jang Jun-yong has many supporters.

Their faces, which had darkened as Park Tae-jong’s defeat became more pronounced, brightened again.

They were the ones who opposed Han Cheong-ho becoming the next chairman of the KEF.