The Chaebol Returns To The Presidency 1967 [EN]: Chapter 141

Reverting to President as a Conglomerate CEO 1967-141

141. Only Making a Fortune Left?

Glyphosate was developed in 1950 by a Swiss chemist and initially used to clean substances like potassium, calcium, magnesium, manganese, copper, zinc, and sulfur that accumulated inside metal pipes.

The president said,

“I know that substance well. It’s a new material with no known side effects *yet*.”

“Roundup was a herbicide based on this glyphosate. Testing this substance will reveal the truth.”

“Since glyphosate is a definite target substance and its chemical formula is reported in academia, we will use this sponsorship to study its harmfulness to humans.”

*

Western United States.

In the past, the vast American land, where herds of buffalo grazed, seemed endless.

Now, there were 20 acres of cornfields in the growth stage, where corn ears had not yet formed.

However, unlike other cultivated lands, weeds grew rampant between the corn plants.

Due to the unchecked weeds, which had grown as tall as the corn, it was half corn and half weeds.

With this kind of overgrowth, a crop failure was expected, with the harvest falling short of even half.

This was Monsanto’s experimental cultivation land.

Whoosh~

A crop-dusting plane with sprayers attached to its sides appeared in the sky.

Swaaa-

Pesticide was sprayed like a misty fog.

The plane went back and forth several times, soaking the entire cornfield with herbicide.

After the plane left, the quiet cultivated land began to be tinged with the sunset as if nothing had happened.

The effects began to appear a few hours later.

The corn leaves remained vibrant, but the weed leaves were noticeably withering.

From the next day, the weeds began to turn yellow.

Three days later, only the weeds had turned brown and withered.

The corn in the field where the weeds had disappeared began to thrive with lush green leaves as the competition for nutrient absorption vanished.

*

Monsanto headquarters in the United States (Louisiana).

An executive meeting was being held.

The finance officer reported to George, the president of Monsanto.

“Tiger Fund has purchased 8% of our stock in one month.”

“That’s enough to become the fourth-largest shareholder. Are they demanding management rights?”

“I spoke to them, and they said it’s for simple investment purposes.”

“Hmm, it seems they have an incredible nose for money, as expected of a high-yield fund. They know a good thing is about to happen. But monitor them closely in case they are a hostile M&A [Mergers and Acquisitions] force.”

“Understood.”

Next, the new variety development manager reported.

“As a result of spraying Roundup (herbicide name) on soybean and cornfields, the crops were not damaged at all, and only the weeds were completely eradicated. There is no longer a need to remove weeds manually.”

George, with a cigar in his mouth, applauded.

“Nice! Very nice! Thank you for your hard work. Bonuses will be paid.”

“Thank you, boss.”

“Start mass-producing Roundup Ready immediately. Supply seeds to about 10 sample farms for free to promote them, and prepare for a large-scale release.”

“Understood, boss!”

‘Roundup Ready’ refers to genetically modified soybeans and corn that are resistant to the herbicide Roundup.

If Roundup herbicide is sprayed on fields sown with Roundup Ready, weeds without resistance die, and only Roundup Ready crops thrive.

This idea was a product of human greed.

There was a wastewater pond next to the Monsanto factory, and they discovered bacteria living even in the pond where glyphosate, the main component of Roundup, was highly concentrated.

While collecting and studying these bacteria for resistance research, they came up with a brilliant business idea.

They created new seeds by transplanting the genes of these bacteria, which can survive even when exposed to glyphosate, into soybeans and corn through genetic engineering technology.

Existing herbicides harmed not only weeds but also crops, requiring people to selectively spray them one by one. Therefore, vast cultivated lands and farms were struggling with weeds.

However, in fields where ‘Roundup Ready’ soybeans and corn, which can survive even when exposed to Roundup, grow, weed worries were over with just a crop-dusting plane for herbicide spraying, without the need for laborers.

Monsanto was now able to sell not only herbicides but also seeds as a set.

George said with a grin from ear to ear.

“Now, all that’s left is to make a fortune!”

During Chairman Wang’s era, Monsanto’s Roundup, as this set product, became the best-selling herbicide in the world.

*

California State Court, USA.

A trial was being held with jurors present.

The plaintiff’s lawyer, representing the victim, said.

“Since using Monsanto’s herbicide Roundup, the shadow of death has begun to loom over our clean village. Five people have contracted skin cancer at once, and the miscarriage rate for women has increased threefold compared to the previous year. Even surrounding livestock have died for unknown reasons. All of this is due to the toxicity of Roundup’s main component, glyphosate.”

Monsanto’s lawyer, wearing a neat suit and gold-rimmed glasses, stood up.

“Misunderstandings and ignorance about glyphosate have caused this unnecessary legal battle.”

“…….”

“The opinions of scientists on glyphosate are invariably as follows: it does not affect humans. It’s just like how corn is fine, but only weeds die.”

“…….”

“You still look like you can’t believe it. So, I will omit the chemical formula and detailed physiological mechanisms and explain only the simple principle. It is a mechanism recognized in academia.”

The lawyer prepared a picture chart for the jurors to see easily.

“Glyphosate is absorbed through the leaves of plants and moves to the growth point via the roots to function. Glyphosate blocks the biochemical ‘shikimate’ pathway, which is essential for growth, stopping the plant’s growth.”

“…….”

The lawyer showed off his memorized knowledge.

“Plants become unable to produce enzymes, collapsing the defense system of living organisms, stopping growth within hours, and after a few days, the leaves turn yellow and even the roots wither and die. But humans don’t have a shikimate pathway at all. Humans are a completely different species from plants. So, Roundup is a safe herbicide for humans. This is science and fact, ladies and gentlemen of the jury!”

“…….”

The jurors nodded, believing that there was no room for judgment in the word science.

“According to academic reports, the main cause of skin cancer today is sunlight. Mr. Smith’s case is just unfortunate as a result of working hard in the scorching sun. He is paying the price for a lack of caution in not blocking sunlight with sunscreen, etc.”

“…….”

“Do we really have to explain even the cause of miscarriages and livestock deaths?”

“…….”

“The burden of proving harm lies with the plaintiff. If you fail to secure scientific evidence, this trial should be terminated immediately, even tomorrow. The plaintiff should also consider the cost of damaging the image of a growing company and holding it back. Jurors, please do not forget that Monsanto is not a defoliant company that used to sell Agent Orange but an eco-friendly company.”

The trial was turning unfavorable for the plaintiff.

Meanwhile, about 30 workers, caddies, and amateur golfers at golf courses where Monsanto’s Roundup herbicide was sprayed were also preparing lawsuits due to a large number of cases of leukemia and skin cancer.

*

Monsanto headquarters.

Mr. Kim, the president of an agricultural company from Korea, was meeting with the vice president of Monsanto.

Since it was a difficult appointment to secure, President Kim formally handed over his business card and said.

“I am Kim Seon-taek, the president of Heungbu Seed Company in Korea.”

Heungbu Seed was a seed company owned by President Jeong, which was recently established with investment from President Jeong’s Tiger Fund under the President’s direction.

The white vice president with a bulging belly asked nonchalantly.

“Is this the company that contacted us before to buy the variety rights for Miss Kim Lilac and Jeju Fir?”

“That’s right.”

“You’re saying you’re willing to buy them?”

“It seems there was a misunderstanding in the delivery of the topic of this meeting.”

“Oh, really? What was the miscommunication?”

“I conveyed my intention to acquire Monsanto, but it was reduced to Korean varieties.”

The vice president’s eyes widened.

“Our company? Did I hear wrong? Or is it a translation error?”

The vice president glared at the translator.

The translator confirmed President Kim’s intention and said.

“He’s clear. He wants to acquire and merge with Monsanto. M&A! [Mergers and Acquisitions]”

The vice president laughed heartily, showing his uvula.

“Wahahaha-”

“…….”

“Do you even know what kind of company Monsanto is? How much do you estimate Monsanto’s corporate value to be?”

Even excluding the future value of sweeping money with the distribution of genetically modified grain seeds, it was nothing short of a presumptuous idea for a fledgling Asian seed company to acquire a giant American company, like a shrimp trying to swallow a whale. The vice president thought it was not worth considering.

President Kim said.

“I’m valuing it at $3 per share.”

“$3? Wahahaha- Do you even know what the current price is? To acquire it, you’d have to offer at least a management premium, doubling the price to even consider it, but you’re trying to lowball it ridiculously! Is that how you do business in Korea?”

“…….”

“Let’s end the meeting here!”

As he was about to leave in anger, President Kim said to the vice president.

“If you ever need to sell the company later, please contact me with this business card. I’ll offer you $1 more than any other company.”

The vice president did not hide his displeasure and left abruptly.

*

President Jeong, who was waiting for the results of the cancer research institute, returned to Korea and pondered over how to handle Cargill.

However, swallowing Cargill, a family business, was not easy.

While worrying about it, he happened to watch the popular crime investigation drama ‘Chief Inspector’ on TV.

It was a story about a corporate hunter who defrauded companies to seize management rights, starring Choi Bool-am.

President Jeong slapped his knee while eating.

“That’s it! That’s exactly it!”

He immediately called the President.

“Your Excellency, I need to go visit someone in prison. I need some of Your Excellency’s backing.”

– In prison? Who got arrested?

“I thought it might help with the acquisition of Cargill, so I’m going to meet and interview a white-collar criminal. I need a special visit with a criminal, but I’m a civilian, so I can’t access such special measures, so I’m asking Your Excellency.”

– It’s not for personal gain but for public interest, so I’ll do my best.

Two days later, President Jeong was able to visit the criminal who was the original writer of the Chief Inspector story.

*

Minneapolis, Minnesota, USA. Cargill headquarters.

Cargill was the largest private company in the United States, with over 100,000 employees.

ADM, Bunge, Cargill, and LDC, a total of four global major grain companies, controlled 80% of the world’s grain trade (as of 2021).

If it were to go public and receive a corporate valuation, Cargill would be a massive company that would immediately rank in the top 10 of the Fortune 500.

These companies not only distributed grains but also earned more investment profits by handling derivatives such as grain futures based on the information and trade they obtained from this.

The president of Cargill, a family-owned grain major company, asked.

“Egg Plan is buying corn this time in the Ag Plan?”

Egg Plan was a grain storage and transportation company that President Jeong had acquired in the past for the Chinese soybean hoarding.

The managing director, his son, replied.

“Yes, Father.”

At that time, Cargill, which had traded with President Jeong, suffered huge losses in futures due to Egg Plan’s unexpected physical stockpiling and massive exports to the public, and the company faltered.

This time, Egg Plan is buying corn, so they couldn’t help but be very nervous.

“What’s their scheme?”