The Chaebol Returns To The Presidency 1967 [EN]: Chapter 104

104. The Second Korea-Japan Agreement

Ministry of Internal Affairs, Japan.

Key ministers, including the Prime Minister and the Minister of Energy Resources, gathered to review the trade terms brought by Special Envoy Kurada.

“Your Excellency, Prime Minister, this is quite humiliating. We can return the Joseon [historical Korean kingdom] cultural artifacts, but we cannot sell territory, no matter how dire our situation. Korea is too arrogant.”

The Minister of Energy Resources stated.

“We shouldn’t only think that way. All three locations are essentially disputed areas. They are symbolic, practically uninhabited islands with no real value. It’s time to face the reality that half of our factories are closed.”

“Minister, the Senkaku Islands [also known as the Diaoyu Islands, a group of uninhabited islands in the East China Sea] border part of the 7th mining block, giving them strategic importance.”

“That was true in the past, but now Okinawa is independent, and we need their permission to even go to those uninhabited islands. We cannot defend them. Korea is the same. I don’t understand why Korea wants to buy such islands. On the other hand, oil is our reality. We need to think realistically.”

The Prime Minister, who had been listening, spoke.

“The Minister of Energy Resources is right. Except for Tsushima Island, Dokdo [a group of small islets in the Sea of Japan] and the Senkaku Islands are under the effective control of Korea and China. Tsushima Island is closer to Busan [a major city in South Korea] and so barren that it cannot survive without support from the mainland. Instead of 3 years, let’s increase it by 1 year, raising the conditions to 200 million barrels every 4 years and negotiate.”

*

The President’s office.

Kurada conveyed the instructions from his home country.

“Your Excellency, Japan’s policy is that your four conditions can be met in 4 years.”

They had increased the price for the territory.

They had no idea that the Korean President they were dealing with had a businessman’s blood flowing through his veins.

“Then let’s do this. Extend it to 4 years, but let’s contract in money, not physical oil. At the current rate of $10 per barrel, 200 million barrels per year, that’s the equivalent of $2 billion per year in physical goods.”

“So, if the market price drops to $5, will 400 million barrels be supplied per year?”

“Of course. Japan will have more than enough to use, so they can export it.”

“Understood, Your Excellency! I will report to my home country.”

*

The Japanese Prime Minister’s office.

The Minister of Energy Resources said.

“Your Excellency, Prime Minister, most economic experts predict that this high oil price will not last for more than 1 year, 2 years at most. This is a very favorable condition for Japan. If we do well, we may be able to export crude oil for 2 years.”

“I think so too. I was uneasy about selling territory, but with these conditions, we are buying it at a bargain price. If it returns to $3 again, we will become an oil-producing country, so there will be no problem persuading the Diet [Japan’s parliament], hahaha!”

“That’s right, Your Excellency!”

A cabinet meeting was held.

After explaining Korea’s exchange conditions and persuading them how profitable it would be, the vast majority agreed.

The Diet, which had been a stumbling block, also turned in favor.

They had no idea that the oil price would soon rise to $12 per barrel, and in two years, it would rise to $24 (equivalent to $103 in 2020), shrinking 800 million barrels to 500 million barrels over four years, making it a loss compared to the initial condition of 600 million barrels over 3 years.

The leaders of both countries pointed fingers at each other and burst into laughter.

“Uahahahaha- you fools!”

*

The President spoke with Kennedy on the phone.

After reporting on the progress of the Korea-Japan agreement negotiations, Kennedy applauded.

“You are doing a very good job. If an ally is in trouble, security is shaken. How about providing oil loans not only to Japan but also to Taiwan at this time?”

“Ah, Taiwan.”

“I’m saying this from a security perspective.”

“I understand. I’ll consider it.”

A military alliance is like a needle and thread with an economic alliance.

In that respect, Korea’s actions were a huge help to America’s global strategy.

Providing crude oil to Taiwan was something the President had already envisioned in his grand plan.

He decided to send a special envoy to Taiwan, pretending to reluctantly accept the US proposal.

*

Jeju Island.

The venue for the 2nd Korea-Japan Agreement signing ceremony became an issue.

The Japanese side insisted on holding the ceremony in Jeju Island, arguing that holding the signing ceremony in Seoul while selling territory would appear humiliating to their country.

However, the Korean President thought such justification was futile.

“What does it matter if it’s Jeju Island or Dokdo? Territory is forever!”

Thus, the 2nd Korea-Japan Agreement signing ceremony was held at the Jeju Provincial Office.

The 1st Korea-Japan Agreement in 1904, the Eulsa Treaty (2nd Korea-Japan Agreement) in 1905, and the 1st Korea-Japan Agreement in 1965 were all diplomatic agreements signed with Japan that were humiliating for Joseon and unilaterally favorable to Japan.

But this time it was different.

In front of reporters, the President said to the Japanese Prime Minister.

“This is also a treaty that we are losing out on, Prime Minister. We are respecting the position of the United States and emphasizing the Korea-Japan alliance that much, so it is being concluded.”

“I am well aware. It will be a win-win treaty for both sides.”

“Let’s also discuss a Korea-Japan FTA (Free Trade Agreement) as an opportunity from this agreement.”

“Ah, that’s good.”

The two leaders signed the return of cultural properties and the recognition of the Republic of Korea’s territorial rights over the three islands.

The two leaders smiled brightly and posed in front of the photographers.

The Japanese Prime Minister had no idea that this photo would become a humiliating photo in history.

They also did not foresee the consequences of the upcoming Korea-Japan FTA (Free Trade Agreement).

*

Chairman Mao Zedong’s office in China.

After hearing the news that Japan had transferred the Senkaku (Diaoyu Islands), the Chinese Chairman summoned the Foreign Minister and the Ambassador to Japan and became furious.

“How dare they sell someone else’s territory? Does that make any sense? What have you been doing to let things get this way? Do I have to find out through the newspaper?”

“We are sorry, Chairman!”

“Chairman, how should we respond?”

“Summon the Japanese ambassador immediately.”

“Understood!”

“And send the navy to the Diaoyu Islands immediately and occupy them. And install our military facilities!”

“Understood!”

Chinese warships were dispatched to the Diaoyu Islands.

However, because it was not an island suitable for people to live on, they only raised the Chinese flag and retreated.

Tensions escalated in the region.

In Korea, there was no response except for the Ministry of Foreign Affairs issuing the following statement.

“Since the Senkaku Islands are Korean territory transferred from Japan, China, which has illegally invaded, must apologize and promise to prevent recurrence.”

Of course, China scoffed at it.

*

Tsushima Island.

The President arrived at Tsushima Island port by boat from Busan.

He took a boat to experience the sea route directly after getting off the helicopter in Busan.

Thump, thump!

It was less than 50km in a straight line from Busan, and it was a stone’s throw away, taking less than 2 hours by regular boat.

Hmm, if a high-speed ferry operates regularly, it will take less than an hour.

All the residents of Tsushima Island came out to the pier, waving the Taegeukgi (Korean flag) in their hands to welcome the Korean President.

The Korean phrases written directly on paper by hand were impressive.

“Welcome Korean President!”

“Long live the Republic of Korea!”

The President clicked his tongue.

“Tsushima Island’s change of attitude is really lightning fast!”

The Foreign Minister said.

“Even in the records of the Joseon Dynasty, Tsushima Island was ridiculed as ‘a woman who serves two husbands.’ They become Japanese when they belong to Japan, Koreans when they belong to Korea, and Americans when they belong to America, quickly bowing their heads to the strong. That’s because they have no agriculture or industry, and fishing is all they do, so they cannot maintain their livelihood without support from the mainland. The resident vote was also completed in just 3 days.”

“Indeed, history cannot be ignored. A country’s history is like human DNA.”

Instead of the Japanese flag, the Taegeukgi was flying at the Tsushima Island government office.

The banner read in Korean.

“Celebrating the annexation of Tsushima Island to the Republic of Korea!”

“Your Excellency, that person is the Governor of Tsushima Island.”

The Governor approached and bowed deeply to the Korean President.

“Your Excellency, welcome. I am deeply grateful that you have come to Tsushima Island, the territory of the Republic of Korea.”

“Thank you. I am grateful that the residents quickly agreed.”

“Your Excellency, the residents of Tsushima Island consider it an honor to become citizens of Korea.”

“Haha, I also consider it an honor that Tsushima Island has become Korean.”

A lavish dinner was held with seafood caught by the residents of Tsushima Island.

It was their unique custom to serve their masters, so the President couldn’t refuse and ended up overeating for the first time in a while.

The next morning, the President was seen off by the residents of Tsushima Island and boarded a helicopter that arrived in the morning, heading to Seoul.

Tutu, tutu-

*

The National Museum of Korea.

The first batch of returned cultural properties from Japan was on display.

There were about 2,000 items, including national treasures such as the Silla gold crown [a symbol of the Silla kingdom, one of the Three Kingdoms of Korea], the Gilt-bronze Pensive Bodhisattva [a famous Korean Buddhist statue], the ‘Mother-of-pearl Inlaid Chrysanthemum Pattern Sutra Box’ made during the Goryeo Dynasty [a type of ornate box used to store Buddhist scriptures], and the Yullisa Temple Stone Pagoda [a historic pagoda located at the site of the former Yullisa Temple].

The President toured the returned cultural property exhibition hall.

The Minister of Culture explained.

“Okura [likely referring to Okura Kihachiro, a Japanese businessman known for collecting art] took 3,692 works of art and 15,600 books from Joseon during the Japanese colonial period. However, in the 1923 Great Kanto Earthquake, the exhibition halls of Shukokan, including the Charity Hall, were completely destroyed. Even if we wanted to find them, we couldn’t.”

“That’s truly unfortunate. The Japanese invasion deserves criticism, but the leaders of that time who brought the country to the point of being taken away cannot be free from criticism either.”

“That’s right, Your Excellency! Behind those who only shout anti-Japanese slogans are the cunning schemes of pro-Japanese figures trying to cover up their own faults.”

“Blaming others is past-oriented, and reflecting on oneself is future-oriented. Before blaming others, we must reflect on our own history first. That’s why we need to overcome Japan, not just be anti-Japanese. We must surpass and overwhelm them with our skills.”

As if finding lost children, people lined up to view the returned cultural properties.

The 300,000 returned cultural properties were arriving one after another.

*

Taiwan.

The special envoy of the Korean President was paying a courtesy visit to the Taiwanese President.

The newly elected Taiwanese President was opposed to ‘One China’.

The special envoy said.

“I heard that Taiwan is also experiencing great difficulties due to the oil shock.”

“That’s right. We can’t even turn on the lights at night as we please, so we have to light lamps, which feels like going back to the Middle Ages. I can only envy Korea, which is an oil-producing country.”

“That’s why Your Excellency is considering transferring the Senkaku Islands in exchange for supporting oil to Taiwan. It is out of consideration for the alliance.”

China, Japan, and Taiwan all claimed sovereignty over the Senkaku Islands, but in fact, Taiwan, which was pushed back by China, could not dare to do so because of the risk of conflict with China.

“The Senkaku Islands? Haven’t you already received them from Japan?”

“We should ask Taiwan for understanding as a matter of courtesy.”

In fact, they had virtually given up, so they were just grateful that Korea recognized Taiwan’s stake.

“How much oil can you support?”

“We will provide 1/2 of the amount Taiwan needs for one year.”

“I, is that really true?”

They hadn’t expected it, so it felt like winning the lottery.

As it was, the economy was faltering due to soaring oil prices, and the pro-China opposition party was pouring out political offensives to rely on China, and the regime was faltering.

They were in a situation where they had to sell even part of the main island, let alone the Senkaku Islands.

“Of course. Please tell the Korean President that he is willing to do so.”

“Understood, President!”

The Taiwanese President and the Korean President signed the documents for the transfer of the Senkaku Islands.

Next is China’s turn.