This Is How I Became a Chaebol

074 : Identity of Koreans

“hurray! hurray! hurray!”

“Long live the Great Lakes!”

“Korea horray!”

Bap b b b b b b b b b b b b b b b b b b b b b b b b b b b b. Barabamppa ♩♪♬

The Koreans gathered at Portland Harbor cheered us by chanting “Long live the Republic of Korea.”

For some reason, our Korean residents, most of whom were illegal immigrants, proudly hurrahed for three cheers, and a great orchestra appeared along with Portland citizens and gave a proper welcome ceremony.

“Welcome, CS.”

The wonder didn’t last long.

Van Flint was seen among the welcoming crowd.

“From the salute to the welcome ceremony! It is an honor.”

“When Korea’s first national flag ship first entered the port, a consul general was coming. Such a welcome is natural.”

“Befitting the No. 1 national flag ship, we need to fix the ship first. While the ship is being repaired, I think we should also build a Daesae shipping warehouse here.”

“Are you asking me to help?”

“Sure.”

“They decide whether to help or not by seeing how well they roast their investors.”

“Isn’t that kind of test enough?”

I pointed to Daesae No. 1, which was horribly broken.

Koreans who cheered when they entered the port were wiping away tears at the image of a marine student saluting with a dignified appearance on a ship that had been horribly cracked.

“Good good. i don’t yield I’ll try to fix the ship and store it in Portland.”

I said it casually, but in reality it was not an easy task.

There is a cartel between shipping companies in the port, so without belonging to the cartel, even the repair of ships and unloading, let alone warehouses, are not carried out properly.

It meant that he would lend a helping hand so that he could enter the shipping cartel.

Van Flintney made it possible.

It would be nice if it was the Pacific Freight Alliance, which is the main pillar of Sea-Land.

Isn’t it a shipping company that dominated the Pacific Ocean in the 1960s and 1970s?

“While you are working hard, please resolve some short-term external debt. It’s a $70 million spot.”

I held out the Bill of Lading.

Shipbuilding securities are securities that can be submitted to a bank as collateral after loading goods on a ship.

By showing these securities to Van Flint, I pass the test.

“It’s also urgent.”

“There’s a man dying here.”

I pointed my thumb behind my back.

Deputy Minister Yeom Won-cheol was standing like a drowning mouse. His only concern was the $200 million long-term foreign debt paperwork that Van Flint would bring.

“It’s a loan approval document worth 200 million dollars. If you put it in a Manhattan bank and contact the home country, the short-term foreign debt will be extended right away.”

“thank you.”

$100 million was an Act for International Development (AID) loan provided by the US government to developing countries based on the Foreign Aid Act, and $100 million was an IDA loan provided by the International Development Association affiliated with the World Bank.

It was clear that Nancy, a member of the Pentagon, and Van Flint, a political and business magnate, had each brought $100 million from their respective domains.

Whether it was the AID Vice Minister or the IDA Vice Minister, it was all the same thing that the US government was behind.

“thank you. thank you.”

I received the documents and immediately handed them over to Deputy Minister Yeom Won-cheol. Deputy Minister Yeom hurriedly checked the documents and let out a sigh of relief. I heard a groan as if I was holding back tears.

It was a natural reaction since the crisis of national bankruptcy disappeared with a few simple documents.

“Looking at it, I think I need to rest for a while. The hotel is reserved, so prepare yourself first.”

“haha. Thank you for your concern.”

Van Flint handed over a note with the name of the hotel on it.

I really wanted to rest too.

“If you miss Korean food, talk to the welcoming crowd over there. I will provide you with a bed and breakfast.”

I said it around, but the party I came with said to use the guest house of Korean residents.

It was a cheap way to get lodging.

After all, he was a meticulous nobleman who understood Koreans.

“How should I prepare for the investment briefing session?”

“You have nothing to prepare. See you the day after tomorrow at the Oregon Convention in Portland. I’d love to give it more rest, but I can’t help it because investors want to see it.”

Van Flint held out an invitation to the party.

It was a thing that was written down as a party and called an investment briefing session.

“Okay, see you there.”

“Will your friend come with you?”

“Oh, I didn’t even introduce myself. Cheol-Yeom Won, Deputy Minister of Commerce and Industry.”

“Ho, was it the Deputy Minister?”

“Nice to meet you. I heard a lot.”

Deputy Minister Yeom Won-cheol also knew Van Flint.

Well, there’s no way high-ranking officials didn’t know about Van Flint at this time.

“Good. See you both at the party.”

That way we parted ways.

Today is March 31st, so there were a lot of things to do on that day.

Our party was able to enter the hotel only late in the afternoon after going through immigration, customs and banking.

As soon as I entered the room, I soaked myself in a warm bath. It literally felt like my body was melting.

Taking off all the greasy and sweaty clothes, putting on a gown and jumping on the bed, I felt like I was drowning in a cloud.

***

two days later,

Portland Oregon Convention Hall.

I got my hair done neatly and put on a business suit and entered the convention hall.

honestly it was amazing

No matter how much it is in the United States, there is a building named Convention Hall in the 60’s.

The convention hall at this time was a luxury business hotel concept, and in the lobby, a wine fountain was flowing in a huge pyramid made of wine glasses.

Of course, such a luxurious atmosphere does not last very long. This year, I started to realize that the Vietnam War was a pit from which it was difficult to get out.

Even though it was a little more comfortable thanks to Qunyeon.

“CS Woo, welcome.”

“thanks.”

“Welcome, friend. There are many people to introduce.”

Van Flint was the host, and the party was already full of well-dressed men.

At least 30 people seemed to be enough.

“This is Vice President Goodman of Union Oil.”

“Nice to meet you. My name is CS Woo.”

“Nice to see you too. I was in charge of Far East Asia, so I really wanted to see you.”

“Now, this way…”

Van Flint frantically introduced me to this person and that person.

Union Oil, Bechtel, Dow Chemical, Westinghouse, Blonox, Ford Motor Company, Vitro Fertilizer, Hanover Trust, St. Louis Paper, Pitmore Steel, DuPont, etc. seemed to have gathered all the companies worth knowing about.

‘These are the companies that trusted Van Flint and provided loan guarantees to Korea.’

Attending here meant that I was thinking of investing in Korea.

Rather than directly contacting the Korean government, it is said that it is prepared for possible danger by inserting an intermediary named Van Flint.

It was because he was saying that if the situation was different, he would use Van Flint as his agent or cut off his tail using him as an excuse.

“Are you all right, Mr. Wu?”

“Why, where are you uncomfortable?”

Deputy Minister Yeom Won-cheol asked me, wiping his sweat with a stretched handkerchief.

“It’s not that it’s uncomfortable, it’s that the atmosphere is tense. Aren’t they all one-shot companies?”

No matter how old it is in the 1960s, how could a high-ranking public official like the deputy minister be so scared in front of a private company?

“Deputy Minister, I am nervous. We are the top.”

“Yes? Are we the bosses? We are in a situation where we need to borrow money and ask for investments.”

“So it’s okay. Even in banks, people who borrow money are called customers, not debtors.”

“……”

“It’s like pecking when borrowing pennies. When you borrow a lot of money, you show off your guts.”

Deputy Minister Yeom, who was making an absurd expression, was massaged on the shoulder to relieve tension.

My name is a high-ranking public official in Korea, but I use it if I’m scared.

“Would you like to talk to me? My name is Tony Edwards from DuPont.”

“As much as you like.”

I made a jackcock on the spot and handed it over.

“Jackcock is good.”

I liked Edward’s answer.

Most of the people who like jackcock are people who are more interested in practicality than formality.

There are people who say straight bourbon whiskey is the original, and there are people who say that whiskey tastes better when mixed with sweet cola.

“I will tell you what I want first. The Korean plant will produce 4,800 tons per year, and support the construction cost of 9 million dollars. The stakes are 51 to 49. Of course, the license is a permanent rental.”

It was a quick hit and run, but it had everything I needed. In exchange for obtaining a Kavlar license, he said that he would invest in the construction of a Korean factory.

Since I had already sent a telex to Van Flint about a deal with DuPont, there was no search battle.

“It looks like you guaranteed a loan of up to 9 million dollars.”

“Yes, if you do not agree to this offer, you will have to withdraw the payment guarantee. Then, for $9 million, I think you should find another investor.”

From the beginning, it came out strong as if it was going to overpower me.

Van Flint looked at me from afar and grinned, mouthed ‘He, Vice President! (That guy is the vice president)’, he said slowly.

Seeing as Van Flint doesn’t come forward, that means this isn’t the main deal.

Well, you can’t be the main proprietor of this party for $9 million. I want you to take care of yourself on my own line.

“Before getting to know the investor, let’s make an offer. 15,000 tons of annual production and 20 million dollars for construction.”

“I beg your pardon?”

“The production volume is more than tripled, and the construction cost is slightly more than doubled, so it’s mutually beneficial, isn’t it?”

The bigger the plant, the lower the construction cost.

In my experience, at the exchange rate of the 1960s, whether it is synthetic fiber or plastic, it is about 6 million dollars per 5,000 tons of production.

$20 million for 15,000 tons is like taking $2 million more extra.

It remains even after building the factory.

“You said you were going to produce 15,000 tons of Kabla? Where do you write it all?”

“Kablar is five times stronger than steel and can withstand 500 degrees. Reduces bullet death rate by dozens of percent. Not only soldiers but police also need body armor and bulletproof helmets. It is also perfect for firefighting clothing. Ironically, it is also a cutting-edge fashion fabric. It has many uses other than clothes. Tire cords, aircraft wings, wire sheaths, car interiors including seat belts, transmission belts…”

As my words continued, Vice President Edward’s expression gradually changed.

Once you hear it, the uses are endless, right?

“Still, $20 million is too much.”

“Corporate tax and business tax exemption for 5 years. The factory site will also be repaid in five-year installments with a two-year grace period.”

My words widened my eyes.

“Uh… Woo boss…”

Deputy Minister Yeom Won-cheol, who was next to me, was also taken aback by my words. It must mean where are those tax benefits.

why not Isn’t that the famous Tax Reduction and Exemption Regulation Act?

Although it spurred foreign investment, it is a law that has been criticized over and over again for bringing in indiscreet loans.

I’d rather do it before the weirdos bring in the loan and buy the building.

“Still, the factory is too big. If you operate that much, the initial operating cost is too high…”

“The government guarantees electricity and water bills. At 60% of the international price.”

“Ugh!”

This was also an implementation item of the Tax Reduction and Exemption Regulation Act.

Edward hastily pretended to drink jackcock.

It was because he had an expression that said, ‘This is absolutely amazing!’ without even realizing it.

“Instead, there are conditions.”

“A condition?”

“We need a power plant. A 100MW class is required to run such a factory. There is Bektel over there, so please promote it together.”

“Okay…”

Are things getting a little complicated? But you have to do it.

DuPont needs to step up as a customer to build a 100MW power plant.

Besides, the heat from there is used for heating, and the remaining water vapor after turning the turbine must be used by turning it into mainstream chemistry.

“Because electricity is unstable, once the reactor hardens, it takes two weeks just to break it into pieces. It’s all-stop. That shouldn’t be the case.”

“…if it goes all the way to the power plant, it won’t be a profitable business.”

“Okay, maybe stay?”

“Even if the stake is 5 to 5, the profit distribution should be 6 to 4.”

“Is that enough? I do. then.”

“Ugh! Woo boss!!! What nonsense!”

Deputy Minister Yeom Won-cheol jumped up.

I was so excited that I spilled the jack coke I was drinking. The earlier tax-related promises are excessive, but it must mean that even profits cannot be divided 6 to 4.

I gently pressed Assistant Secretary Yeom’s shoulder.

Even if you are excited, listen to the end and be excited.

“Edward, that profit. According to the public disclosure standards of the US Department of Commerce, it is calculated with an operation rate of 85% in 305 working days, right?”

“Sure.”

“Then, the amount of excess production is our responsibility. how about it?”

“… Umm, I guess so.”

DuPont vice president Edward agreed grimly.

It must be the judgment that excessive production is not possible in a developing country like Korea.

“!!!!”

Deputy Minister Yum Won-cheol listened to my words and narrowed his eyes.

‘Did you see? Is this still a loss?’

At this time, except for a very few Americans, they did not know what kind of country or ethnicity Korea was.

Koreans worked in shifts 24 hours a day, 365 days a year, and achieved an operation rate of 110 and 120% regardless of means and methods.

Moreover, I am a 21st century engineer.

If I change a few process conditions, overproduction is a piece of cake.

“Then, shall we sign the contract on this condition?”

“Is the contract available now?”

“With the Deputy Minister of Commerce and Industry of the Korean government here, there is nothing I can’t do.”

“Hahaha, that’s good.”

At the party, the US Department of Commerce standard contract was already prepared, so once the parties agreed to the terms, the rest was a breeze.

When I filled in the special agreement I mentioned, Edward readily signed it, saying, “What kind of rice cake is this?”

Deputy Minister Yeom Won-cheol also signed the agreement on behalf of the Ministry of Commerce and Industry of the Republic of Korea.

Even after signing the contract, Assistant Minister Yeom could not relax at all.

Is such a contract possible? while saying

“Chief Wu, is it really okay to do this?”

“Can’t you see and not know? They do not know the identity of Koreans. A contract like this won’t be possible in a few years, so let’s wipe out all the party halls here today.”

I strode forward.

Seeing as Van Flint was wearing Union Oil, that meant I could take care of all the contracts except for Union Oil.

There was money everywhere.

Let’s make a big investment!

All of them are people who don’t even know where Korea is located.