Mining And Construction Tycoon [EN]: Chapter 98

98. The Launch of the Taeyang Group (1)

Han Cheong-ho was anxious.

He tried everything to silence Oh Young-soon.

Finally, they reached an agreement:

1. Report to the President that ‘there were no problems with the vault.’

2. Han Cheong-ho will refill the new secret vault.

3. Return the photos and films to Oh Young-soon.

4. Take all of this to the grave and never reveal it.

Oh Young-soon was very satisfied.

She only had to say one thing in front of her husband: ‘There were no problems with the vault.’

Then the blackmail that had tormented her for so long would end.

On the other hand, Han Cheong-ho was furious.

“Kang Tae-soo! That son of a bitch, again!”

He had to contribute his private funds to fill Park Jeong-hwan’s secret vault.

There was no problem with the list of pro-Japanese collaborators and their property. He had offered it himself, so he could just copy it again.

The problem was money.

“Because of this, I’m going to have to return everything I squeezed out of Oh Young-soon!”

That was why Han Cheong-ho was angry.

He had been preying on a naive and wealthy victim, sucking honey.

Now, the victim was escaping, and he had to spit out the honey he had been enjoying.

“Kang Tae-soo, if I don’t see you ruined, I’m not Han Cheong-ho!”

Fortunately, the vault matter would be resolved well.

The relationship with Park Jeong-hwan, which had soured, would improve because of this, and Park Jeong-hwan’s worries would be relieved.

“You can have a taste of your own medicine.”

Han Cheong-ho’s eyes gleamed ominously.

“I’ll show you exactly what happens when a businessman’s cash flow dries up!”

He would have the banks block loans and extend their terms.

“I need to visit the President.”

A box of apples is used for times like this [a common practice of offering gifts to curry favor].

* * *

It was something Secretary Song had brought up, and something Saudi Arabia’s Minister of Defense, Khalid, had mentioned.

Block 7 refers to the resource exploration zone set up in the Jeju Basin [an area between South Korea and Japan].

It is estimated that this block contains a large amount of commercially viable oil and natural gas fields.

‘On January 30th of this year, 1974, South Korea and Japan signed the to jointly develop this area.’

The agreement took effect in 1978 and set a validity period of 50 years.

However, even by 2020, joint exploration between the two countries had been suspended, and development had not taken place.

The Japanese side unilaterally refused cooperation, abandoning the waters.

‘I heard that the estimated amount of resources buried here is enormous.’

If Saudi Arabia’s recoverable oil reserves are about 270 billion barrels, the maximum reserves in Block 7 amount to 100 billion barrels.

Would it be comparable if Russia has 80 billion barrels and the United States has 30 billion barrels?

In fact, China has installed and operates dozens of oil drilling facilities next to Block 7.

‘Park Jeong-hwan, you’ve been doing this behind the scenes.’

Jang Mal-dong’s eyes still followed the list of pro-Japanese collaborators’ assets.

“You bastards, this time, you’ll be unfairly deprived too! I want to see tears of blood in your eyes!”

Feel the way you felt when you exploited the property of innocent people during the Japanese colonial period!

That was why Jang Mal-dong was grinding his teeth.

“I’ll roll up my sleeves and help with this, no matter what!”

“I trust you, Elder.”

He felt reassured.

‘I can make a good amount of money this time.’

Soon his pockets would be full.

‘Park Jeong-hwan banned bank loans, so I didn’t have enough funds to acquire the company, but this is perfect.’

Han-soo’s U.S. investment company had funds from selling 100 million barrels of oil at a high price.

The money received from the Saudi road construction was also quite substantial.

The money from the molybdenum mine, cement factory, and limestone mine was also considerable.

‘I’m going to raid Park Jeong-hwan’s vault to add to the company’s acquisition funds.’

Tae-soo confidently declared.

“It seems the time has come to start corporate hunting and launch the Taeyang Group.”

He would scoop up all the valuable companies that were being taken over due to the oil shock.

“Good, I’ll help you with that too. I’ve picked out the best companies.”

“I trust you, Elder.”

“By the way, when are you going back to Saudi Arabia?”

“I have to stay in Korea for the time being.”

Stay?

What did that mean?

“No, why?”

“There are three reasons why I need to stay in Korea.”

Tae-soo said.

“First, I plan to acquire valuable companies and become a chaebol group [a large South Korean business conglomerate].”

It was time to establish a base.

“Second, if I leave Korea, Han Cheong-ho will start hunting to destroy my business. It’s my turn to block and endure.”

He would obviously be stirring up the banks.

Park Jeong-hwan had already ordered the bank presidents to ban loans to Taeyang.

“Third, I want to keep their attention. I need to be bait.”

“Bait?”

“If I stay in Korea, they won’t know what I’m doing behind the scenes.”

How would they know that Tae-soo, who was staying in Korea, was preparing to do something overseas?

“While I’m acting as bait to draw attention, it’s time for someone else to prepare a counterattack.”

There was something to do with the money taken from Park Jeong-hwan’s secret vault.

There was also a suitable person for the job.

“Six months, the game will be decided within that time.”

He had to reverse the situation in one fell swoop.

To jump far, sometimes you have to crouch down for a moment.

* * *

Why does the waiting time flow so slowly?

Tae-soo reads the newspaper every morning.

April 25, 1974.

A left-wing military coup took place in Portugal, ending nearly 40 years of dictatorship.

The coup military handed over power to civilians immediately after the coup succeeded, earning the story of the Carnation Revolution.

“It’s the opposite of someone in our country. Here, the military that succeeded in the coup is dictating for more than 10 years, even changing the constitution.”

Tae-soo folded the newspaper.

The anxiety that started in the economy due to the aftermath of the oil shock was gradually spreading to society.

May 18, 1974.

India succeeded in nuclear testing, becoming the sixth nuclear power in the world.

In reality, it takes a considerable amount of time for India to weaponize nuclear weapons.

However, it was meaningful that ‘it was recognized as a nuclear power.’

“Park Jeong-hwan is desperately conducting secret nuclear tests now. But our country will not become a nuclear power even in the 21st century.”

In the 21st century, North Korea is making a fuss to be recognized as a nuclear power.

It was a move that took the criticism, anxiety, and isolation of the international community.

June 13, 1974.

The West Germany World Cup opened in West Germany.

“They won’t even win one game. Will Park Jeong-hwan be angry at the national soccer team, or will the arrow turn to Han Cheong-ho, who made a big noise?”

August 5, 1974.

The recording tape, a decisive piece of evidence in the Watergate scandal, was released in the United States.

A few days later, on August 9th.

U.S. President Richard Nixon eventually faced impeachment due to the growing Watergate scandal and eventually resigned from the presidency.

The resignation of a sitting president in the United States is still the only case to date.

“I’m relieved that the people left in Saudi Arabia are doing well on their own.”

Tae-soo has been very busy these days.

He couldn’t help but be busy trying to reorganize the companies he had acquired through mergers and acquisitions.

He had been to Saudi Arabia several times, but he had been busy with work in Korea and had been staying in Seoul for several months.

“It’s hot.”

The August heat was sweltering, but the fan wind was weak.

Tae-soo sat down on the bed with a tired face.

“I need air conditioning. Han-soo, let’s buy an air conditioner.”

“Are you crazy? How expensive is that? And I heard it uses a lot of electricity?”

“What are you going to do with the money you earn? Let’s use it for this.”

“Hyung [older brother] used it all to acquire the company. There’s no money.”

“Should we make and sell air conditioners at the electric and electronics company we acquired this time?”

Han-soo, who was flipping through documents on his desk, turned to his brother.

“Hyung, you look tired. Take a break today. If you’re going to dream about air conditioners, you might as well sleep.”

“Can I do that? Now is the time to run.”

He had to grasp the current status of the companies acquired in the early stages, change the atmosphere, and place talented people in the right places.

Tae-soo was trying to do it all, so his body couldn’t handle it.

“No, now is the time to stop and rest. At this rate, Hyung will die of overwork first.”

“I’m fine.”

He now has a young and promising body in his 20s.

And he lived even busier when he worked at the Cheongil Group.

However, Han-soo, who couldn’t know that, was worried about his brother.

“Hyung is overdoing it now. Mentally, physically, and professionally. Look at Hyung’s face. Dark circles have come down to your chin.”

Han-soo approached Tae-soo.

Tae-soo pursed his lips at his brother’s worried eyes.

In reality, he was so short of two bodies these days that he was cutting down on rest and even sleep.

“Hyung, even before this merger, Taeyang has as many as six companies.”

The companies Tae-soo founded were three: Taeyang Mining, Taeyang Construction, and Taeyang Trading.

The companies acquired through mining acquisitions were two: Taeyang Tungsten and Taeyang Cement.

And Samwon Construction, which Park Jeong-hwan gave as a gift.

“There are two companies that were taken from the Cheongil Group.”

Those were Cheongil Oil and Cheongil Heavy Industries.

“Hyung newly acquired seven companies this time.”

Orion Electronics, Seoyang Electric, Seongbo Wood, Kukdong Chemical, Sangu Window, Jo雄 Securities, and Yuseong Insurance.

They are valuable companies that Jang Mal-dong and Han-soo picked out, and Tae-soo smelled money and chose.

“Even the US investment company I created. Do you know how many companies Hyung has now?”

“16. Can’t I even do addition?”

“There are as many as 16. It’s only been two years since Hyung started his business. Do you know?”

Hearing that makes me feel better.

I feel like I’ve been running non-stop and already have 16 companies.

Now it’s time to set up a planning and coordination office and move forward as a chaebol company.

“I benefited greatly from the oil shock. I grew in size more easily than I thought. We are now one step closer to joining the ranks of the chaebols.”

A smile appeared on Tae-soo’s face.

“We have to launch the Taeyang Group.”

It’s finally starting.

Tae-soo finally raised his body, which had been crouching for a long time.

“Han-soo, we need to inform famous figures in the political and business world, as well as newspapers and broadcasting companies.”

It’s not a big planned event.

But shouldn’t we let people know that a chaebol group is being launched?

“The launching ceremony will be held at 10 a.m. on August 13th in the playground in front of Taeyang Heavy Industries.”

“Okay.”

“It’s okay to go to the printing shop and print invitations. It’s not that kind of thing. Just make a phone call.”

“Is that okay?”

“It doesn’t matter. Only those who come will come, or not.”

Tae-soo stretched out.

Then he turned to Han-soo.

“I need to visit Elder Jang Mal-dong to prepare for the launching ceremony.”

I don’t know why he’s going to Elder Jang Mal-dong to prepare for the launching ceremony.

But now I know.

“Let’s go together. I’m curious about what’s going on.”

Hyung is not someone who goes out to play for no reason.

There is definitely something important to do.

“I have something to prepare to reverse the situation.”

I don’t know what it is, but I’m looking forward to it.

“I’m going to make a proposal that the Elder will like very much.”

It’s been a while.

It’s time to negotiate with Elder Jang Mal-dong about money.

The time has come to present a new proposal and seek a way out.