Mining And Construction Tycoon [EN]: Chapter 33

33. Using the President to Set the Stage (1)

A clandestine meeting was taking place in the reception room of the Blue House [the executive office and official residence of the South Korean president, similar to the White House in the US].

Han Cheong-ho handed a box of apples to Kim Jeong-rim, the Chief of Staff to the President.

Of course, the box was filled with something other than apples.

“Please tell His Excellency that Han Cheong-ho of Cheongil came to offer his congratulations.”

“I will certainly convey that.”

Kim Jeong-rim smiled as he accepted the box of apples.

It was sure to be full of bundles of fresh, green bills [a euphemism for cash, likely Korean Won].

“I thought you came to greet His Excellency right after the presidential election. Why have you come again after only a few days?”

“Congratulations and greetings are always welcome, the more the better. Chief of Staff, you must have worked hard during the election as well.”

Han Cheong-ho took out a thick envelope from his pocket and handed it to Kim Jeong-rim.

Kim Jeong-rim readily accepted the envelope, laughing heartily.

“I was only doing my duty for the country and for His Excellency, so there’s no need to mention any hard work. But I do remember Cheongil’s sincerity.”

Kim Jeong-rim nodded with a satisfied expression.

“Tell me, what kind of effort would you like me to make?”

“Have you heard the news that there’s a molybdenum mine in Gangwon Province?”

“A molybdenum mine?”

“Yes, molybdenum is a national strategic mineral used in military supplies.”

Han Cheong-ho’s eyes gleamed as he thought of Tae-soo.

“The price of molybdenum has been soaring lately. It has jumped more than tenfold compared to its previous price. They say the mine is making a fortune.”

“Is that true?”

“Of course. It’s a national strategic mineral, after all. Should we just stand by and watch as they sell off the country’s resources to line their own pockets?”

“Hmm.”

“Consider the heavy and chemical industries that His Excellency is focusing on developing. Because of that fellow’s selfish greed, the factories are on the verge of shutting down.”

“There was such a problem?”

Han Cheong-ho smiled subtly.

“Think about it. Whose coffers should that molybdenum be sold to fill?”

Kim Jeong-rim also smiled subtly.

“I don’t know if the coffers that will be filled will be the country’s or yours, but one thing is certain: it won’t be that fellow’s.”

“Exactly.”

“I’ll speak to His Excellency about it.”

As Kim Jeong-rim stood up, Han Cheong-ho also rose.

“If His Excellency permits, I would like to take charge of that matter. The cleaning of the coffers, that is.”

“Hahaha, that’s something His Excellency will decide. But I’ll mention it to him. I’ll enjoy the apples.”

Kim Jeong-rim lifted the box of apples, smiling contentedly.

* * *

Park Tae-jong thought of Tae-soo.

“I wonder how far he’s come by now?”

He had contacted Tae-soo, saying that President Park Jeong-hwan wanted to see him.

Tae-soo had readily replied, “Let’s do that,” and indicated that he would set off immediately.

Park Tae-jong smiled with satisfaction as he waited for Tae-soo.

“He’s not greedy, his abilities are outstanding, and even his personality is easygoing. There’s nothing more to ask for.”

His ability to track down the Japanese Mangjong [likely refers to a specific Japanese individual or group involved in illicit activities] was superior to even the Central Intelligence Agency.

When he went to the Gangwon Province mine, he signed the contract readily without any special conditions.

He even volunteered to donate the mine for the sake of the country.

Isn’t he a truly rare young man?

“He’s a pillar who will shoulder the future of the nation.”

Otherwise, why would he choose to build a school instead of profitable commercial buildings or hospitals?

He said he would nurture the future of Korea while he was building it.

“He even recognized my son’s true worth at a glance and poached him into his company. He certainly has extraordinary insight.”

His son was building the school admirably.

More properly, better, and more reliably than expected.

He had recognized his son’s talent at once, which he himself had failed to notice, so what more could be said about that young man’s insight?

Perhaps he was even better than Han Cheong-ho?

“The more I think about it, the more amazing he is. He will accomplish great things for the country in the future. I’m already looking forward to it.”

He was confident in his sharp intuition.

Especially when he had an extraordinary person in front of him, his intuition was even more powerful.

That intuition had told him several times.

Kang Tae-soo is truly an extraordinary talent that the country desperately needs.

“Kang Tae-soo, we must nurture that friend diligently and use him greatly for the country. I should properly recommend him to His Excellency this time.”

President Park Jeong-hwan would surely be delighted to see him as soon as he met him.

* * *

Tae-soo drove his car towards Pohang.

“Why would President Park Jeong-hwan specifically want to see me?”

There are a few things I can guess.

“Either Park Tae-jong spoke about me and caught Park Jeong-hwan’s attention.”

The construction of the steel mill would have been faster thanks to Tae-soo, and he is building a school commissioned by Pohang Iron and Steel.

Also, Park Tae-jong, who has made some money selling chromoly steel and stainless steel these days, could have done that.

“But I should consider that possibility to be low. I’m not at a level that the president would be interested in.”

At best, he is just a mine owner in Gangwon Province and the president of a subcontracting construction company.

“The president must have just mentioned me in passing to save face for Park Tae-jong.”

Isn’t Park Tae-jong one of President Park Jeong-hwan’s closest confidants and closest aides?

“If not, Han Cheong-ho must have poked him in the side.”

Han Cheong-ho would have rushed to the Blue House with a box of money.

With the intention of taking the molybdenum mine and filling his own belly.

“But Park Jeong-hwan isn’t the type to go back on his word, so I won’t lose the molybdenum mine.”

Park Tae-jong also confirmed that part.

Park Jeong-hwan won’t change his words, even if he feels bitter inside.

“Hmm, I guess I should assume that he met his confidant Park Tae-jong because he had something to discuss?”

That’s something I’ll find out once I meet Park Tae-jong.

“When I meet Park Jeong-hwan this time, should I subtly bring up the Gangnam development?”

Gangnam development.

It is a large urban development plan that Park Jeong-hwan is ambitiously preparing.

It’s not yet at the stage of full-scale implementation, but the big picture must already be drawn.

“It would be nice if they approved the Daechi-dong apartment plan in exchange for building roads.”

While building the Cheongil Apartments in Daechi-dong, Cheongil Construction laid Samsung-ro, Yeongdong-daero, and Nambu Beltway in all directions.

“If they do that, the swampy wasteland that we are buying at a cheap price will instantly turn into residential apartment land.”

Daechi-dong.

It is a transportation hub with roads on all sides, a station area with Daechi Station on Subway Line 3 in between, and the center of Korean education with the 8 school district, the mecca of Gangnam education.

Cheongil Apartments has been a symbol of Gangnam apartments for 36 years in the center of it, the largest residential complex in Gangnam-gu [a major district in Seoul].

“This time, Tae Yang Construction, not Cheongil Construction, is building the apartments. Tae Yang Construction will be the top-class apartment brand.”

Just thinking about it is thrilling.

Gangnam land is about to become the center of Korea’s land prices.

However, there is one problem.

“There is a shortage of funds to build the apartments. We plan to build nearly 4,500 units at once. It will cost a lot of money just to lay a 14-lane round-trip highway.”

The money earned from the molybdenum mine is being used to buy land in Daechi-dong.

The minimum area to be secured is 72,000 pyeong [approximately 59.5 acres; a traditional Korean unit of area].

Moreover, rumors are slowly circulating that someone is buying land these days, and the land price in Daechi-dong has started to fluctuate.

The land price will rise more than it is now soon.

Before that, we have to secure the site by using bank loans or private loans.

“I need funds. The molybdenum mine alone is not enough. Isn’t there anything that can bring in a huge amount of money?”

Tae-soo pondered.

There is an issue that would be relevant in 1973.

“It would be perfect to use the oil shock.”

The first global oil shock breaks out in October 1973.

The price of oil jumps nearly four times in just three months, shaking the world economy at once.

It was an event that ended the golden age of capitalism that developed countries had enjoyed in the 1950s in one fell swoop.

“A crisis is just another word for opportunity. Just thinking about the oil shock makes me smell money already.”

The first global oil shock is caused by the Fourth Middle East War.

The war, also known as the Yom Kippur War or the October War, was a war that took place in the Sinai Peninsula for about three weeks from October 6 to 25, 1973.

As a result, various Middle Eastern countries participated in the war, and six major oil-producing countries simultaneously declared a halt to oil supplies, turning the world oil market upside down.

The price of oil, which was $2.9 per barrel at the time, jumped to $11 per barrel around December, three months later.

It was truly a price surge.

“It was only after the oil shock that a construction boom arose in the Middle East and overseas construction became active. But now is too early.”

It was in the late 1970s and 1980s that construction was actively started with the oil money earned from the oil shock.

“It’s a pity. I can’t start an oil company right away, and I don’t have any connections to the Middle East. The Middle East is a very exclusive time right now.”

The Saudi royal family currently does not trust foreign businesses and always requires a sponsor.

“Foreigners cannot meet government officials directly, and they do not entrust business unless they are connected to the powerful… It’s difficult, it’s difficult.”

It’s a shame.

It would be great if I could earn money by building Gangnam apartments using the Middle East.

“Once I enter the Middle East, the next construction will be much easier. It’s difficult to break through that once. Hmm.”

It would be great if I could use the Middle East to earn money to build Gangnam apartments.

“If it’s Park Tae-jong, who has a knack for it, he might have information or connections related to the Middle East. Let’s ask him about Middle East construction.”

Vroom.

Tae-soo stepped on the accelerator with all his might to increase the speed.

The car sped along the highway as he stepped on it.

* * *

As he entered Pohang Iron and Steel, Park Tae-jong welcomed Tae-soo with open arms.

“Welcome, I’ve been waiting for you.”

“How have you been? I heard you have some extra money for the steel mill construction?”

“Hahaha, it’s all thanks to you. How about a glass of whiskey in my office?”

“Sounds good.”

Tae-soo and Park Tae-jong raised their whiskey glasses for the first time in a while.

Clink.

They toasted happily and talked about what had happened in the meantime.

Park Cheol-wan was making full use of his abilities and building the school steadily, and it was starting to take shape.

After talking about this and that for a while, Tae-soo brought up the main point.

“Do you have any idea why President Park Jeong-hwan is coming down to Pohang at this time?”

“On the surface, it’s because of the steel mill. But I think it’s probably because of you.”

Tae-soo shook his head.

“It won’t be because of me.”

“No?”

“First, the molybdenum mine has already been granted mining permission by His Excellency. It won’t be of interest to His Excellency.”

“Hmm.”

“Second, school construction is a small matter that won’t catch His Excellency’s eye.”

“Is that so.”

“Third, I’m less well-known than President Park thinks I am right now.”

“Hahaha! How modest.”

“I think His Excellency is coming to Pohang to discuss something that is bothering him with President Park.”

Park Tae-jong’s eyes widened.

He had never thought of that.

But soon he realized that it made sense.

Park Tae-jong rested his chin on his hand and pondered.

“Hmm, there are so many things that His Excellency could be troubled about.”

As president, he would have many big and small national affairs.

Park Tae-jong thought of a few things that he could guess.

“The Vietnam War, the National Assembly Law Amendment Bill, the 9th National Assembly Election, the South-North Red Cross Talks, the New Village Movement [a rural community development program in South Korea]. What else could it be?”

“It won’t be about politics. Is there anything that is giving you a headache in terms of economy or diplomacy?”

“Huh? You mean it’s not a political issue? Why do you see it that way?”

“I don’t think His Excellency would discuss political matters with President Park.”

Park Tae-jong is a person who has cut off all interest in the political world since coming down to Pohang Iron and Steel and is calling for the separation of politics and economy.

He wouldn’t come all the way to Pohang to discuss political matters with such a Park Tae-jong.

If he had to take heavy steps, it would be an economic or diplomatic issue that Park Tae-jong is mainly involved in.

Park Tae-jong rested his chin on his hand again and pondered.

“If that’s the case, there’s one thing that’s bothering me.”

“What is it?”

“The Saudi royal family is very angry about the Middle East road construction issue right now. I heard that the Saudi royal family sent an unofficial letter of protest to His Excellency.”

“The Saudi royal family? The Middle East road construction issue?”

No way, could this be?

Tae-soo’s eyes lit up.

“Can you tell me more about that?”