This Is How I Became a Chaebol

082 : Welcome, friend

“President Do, why is Suseong building a separate fertilizer factory alone?”

“Ah… that’s…”

“They said they would do the design and construction separately in a joint venture with a Japanese company. Mipo plants are not easily compatible with water-based Daehan fertilizers because our Daesae Industrial Co., Ltd. was in charge of joint design with Bechtel.”

“Is it not compatible?”

“Yes. There is some distance from the factory group, and the designs of Mitsui and Bechtel are different, starting with the voltage, so we have to configure a separate utility.”

“When did you decide to do that…”

Chairman Do Byeong-cheol widened his eyes at my words.

Yes, the bus left. It’s a pity, but you’ll have to build a factory by crying and eating mustard.

“Ah, Mitsui! nice work hard.”

The president did not care at all whether it was Bechtel or Mitsui. It was only important to build one more factory, use one more person, and make one more product.

Political funds were also settled with corporate tax, so there was no need to worry about other trivial matters.

“Oh, and Bonnie, didn’t the owner also say that he was building a fertilizer factory? I think that’s what I was told.”

“Yes, originally Vitro wanted to build a 100,000-ton fertilizer plant, so Daese Chem made some joint ventures.”

“What are you talking about? Why is Daesae Chemical in the fertilizer business?”

Chairman Do Byeong-cheol was furious.

“Originally, there was a Vitrosa fertilizer plant on a $300 million loan. Since Mercury collaborated with Japan, Daesae Chemical invested 5 million dollars separately.”

“It is overinvestment. Overinvest!”

What is overinvestment?

If you break the promise of the vice minister, the trust in the country will fall. He said he spent 5 million dollars to secure the stake.

“The loan minister is a national promise that must be kept. If Mercury had announced the joint venture earlier, it would not have negotiated a loan with Vitro. And I heard that Daehan Fertilizer exports if there is a surplus first? What overinvestment is that?”

“The production cost is inevitably more expensive than our fertilizer, so what is it if not redundant investment?”

“You are mistaken, Daesae Chemical is producing caprolactam. The by-products are more than enough to produce 100,000 tons of finite fertilizer. It costs almost nothing.”

“Why are you raising your voice? All good. Suseong, a joint venture with advanced companies, exports, and the trend of cheap materials is to take care of domestic demand! This is win-win, win-win between companies!”

“You are right.”

“This… oh…”

The president waved his hand and directed traffic.

I don’t do domestic sales, but fertilizer is an exception.

I have no intention of leaving a profit. In this era, fertilizer prices were also regulated by the state.

As the situation progressed strangely, Chairman Do Byeong-cheol’s face turned earthy.

Since there is donated land, compensation for the land price will be sluggish, and even if it is difficult to build a factory, a separate utility facility will have to be built, and all products produced will have to be exported.

“… talk to the two of you. I’m going to check out the construction site.”

Chairman Do stared at me for a while and then made an excuse to leave.

Since when did you take care of the scene?

Yes, you must be in a hurry to think about fixing this situation.

“Haha, even Chairman Do takes care of the scene. After all, the Ulsan petrochemical complex is a great history.”

Satisfied, the president tapped Chairman Do on the shoulder. At the words of the president who drove a wedge, Chairman Do withdrew from his seat while trying to manage his expression.

Naturally, the meeting between me and the president took place.

**

“Imja, you worked hard. If you were a special advisor to the promotion committee, you would have heard a lot of comments, but you endured it well.”

I climbed a hill overlooking the Taehwa River.

Seeing the factory site straight to the north, he seemed to be in a very good mood.

“no. Thank you for giving me the opportunity to serve the country.”

“It would be rare for people to say such a thing even after donating 2 million pyeong of land. I spent a lot of money.”

To be honest, I didn’t pay much for the land.

At most, it was less than 1.5 billion.

‘It’s ridiculously cheap land.’

Even that was enough because it supported the residents’ house prices and moving expenses, and the pure land price was around tens of millions of won.

“It is fortunate that we were able to purchase the land at a lower price than the existing industrial complex. Since the land price of the existing planned site has risen too much, it will take about 20 years for the land to be suitable for building a factory.”

“You say you keep it tied up for 20 years?”

“Yes, that way the factory will be profitable even after paying the land price. And since they are all salt farms, after about 20 years, the ground will harden and the ground construction cost will decrease. It’s a way to save money.”

“Twenty years later… yes. Let’s do well then.”

“Ah…yes.”

Are you saying you’re going to be president even after 20 years?

This is what I mean until I die.

It is a great lust for power.

“And I mean. There was a complaint call from the United States, did you know?”

“A complaint call?”

“I heard someone from the Ministry of National Defense, but they said why didn’t they load all the munitions sent to Quy Nhon? He introduced himself as the person who even brought you into the shipping alliance.”

“… Why did Silverstein go to the Blue House…”

what? Why didn’t Nancy send me a telex and complain to the government?

“Oh yeah. Hearing it reminds me of She said Nancy Silverstein.”

“sorry. We will take measures to ensure that this does not happen again.”

“No, no. It seemed like you were trying to get acquainted with our government using your excuse. What kind of deal did the Ministry of Defense personnel approach like this?”

Did Nancy start paying attention to Korea?

Originally, I was only interested in China.

“I decided to freeze sea freight for 10 years. With sea freight rates skyrocketing recently, it seems that I wanted to load a little more goods on my ship.”

“Frozen for 10 years? What did you do that was such a loss-making business?”

“In the business world, isn’t it the one who wins last? Since the shipping industry is such a gamble, I thought that stable freight rates would be more profitable in the long run.”

“Well, since the factory site here is also looking 20 years into the future, it must be so. Yes, just do it like now.”

The President spoke as if he was looking 20 years into the future.

Aren’t you a nobleman who doesn’t know what will happen in 79 right now?

“I have a favor to ask you about that.”

“Request? Is it to make money?”

It was an answer worthy of the chairman of Korea Corporation.

“Yeah, in the long run it makes money. I want to build a privately funded port in Ulsan.”

“A private port?”

“It is a port operated for special purposes by investing in large-scale unemployment.”

This is not a new concept in the 21st century, but in the 1960s, a private company running a port would have reacted this way.

“What are you talking about? Are you saying that you are going to build an export port in a fishing port that used to catch whales? There is Busan Port nearby. You can use it there.”

“It is correct that general products go through Busan Port, but most of the petroleum products going in and out of Ulsan are liquid. You have to go in and out of storage directly through pipes. Along with that, if we have facilities dedicated to containers, it will become a very competitive port.”

“It is a privately funded port specialized in crude oil and containers…”

“If you use the new construction method I used in Quy Nhon, you can build a port at a low cost. Please give me permission.”

There is no need for me to build container facilities at Busan Port. If you invest there, you will most likely be told to donate.

Even if it’s small, it’s better to have a port that I can fully occupy.

If an export port is built, the country will dispatch a dedicated customs office.

“Looks like you’ve already bought the lot.”

“Yes, I prepared it on the side of Mipo Bay.”

“How much does it cost to build?”

“If it is made into a three-berth port capable of berthing an 80,000-ton oil tanker, it will cost about 4 billion won. In terms of dollars, that’s about $15 million.”

A large 200,000-ton oil tanker is currently unreasonable.

Investing here will reduce my dollar balance to $20 million.

Originally, it should have been around 30 million dollars, but it was made by investing 5 million dollars each in a fertilizer plant and a methanol plant.

It takes time to replenish the money because it was made from lumber and Seongsu-dong.

“Okay, that should give you plenty of jobs. Call the secretary’s office and ask for permission.”

“thank you.”

“Make a lot of money instead.”

“Yes, Mr. President. Thank you for permission.”

As if the president had finished talking with me, he waved his hand and instead told me to go.

I remember the last time I got it.

I turn back that way and go down the hill…

“What is it, Imja? Where are you going?”

“Didn’t you tell me to go and look at the work?”

“Never. Rather, they said they were building a power plant in Incheon, and they switched jobs with the construction in Hyeonsan.”

It didn’t mean to go, it meant to change the subject.

“Yes, Hyunsan Construction is doing a good job collaborating with Bechtel. We are also building an oil refinery for Union Oil, which is as good as the Ulsan petrochemical complex.”

“Yes, is this something useful even for the owner?”

“I think so. Even though they made a huge loss on Thai highways, they said they did not open their hands to the government unlike other companies. Can’t you just keep it close by just looking at that?”

please stay close

Let the man do the work instead of me.

I mean I can grow well enough on my own.

“okay? My skills are good… This is it.”

“Daese and Hyunsan Construction are the only construction companies that received heavy equipment from the 8th Army. You can believe it.”

“Umm, well, since you have experience in Thailand, you must be able to build highways well in Korea. Shall we ask them to build a Gyeongin Expressway as a model? You’re in Incheon right now.”

“… I think you can do that.”

I wondered when the highway talk would come out.

“Are you planning to do anything different? A shipyard or a steel mill. No, I’d rather do both. It’s like making a steel plate and cutting out a big boat.”

What are you talking about?

The petrochemical complex has not been finished yet.

Shipyards and steel mills are not the size to be built quickly.

In particular, constructing a steel mill is not an easy task.

The molten iron is barely bursting when money is burned like firewood and tens of thousands of laborers are put into it.

“We will consider it carefully.”

You have to buy time by pretending to review.

For 2 or 3 years, you can start by earning a lot of money.

To be honest, it’s a pity that I can’t start right away either.

If the Suez Canal is blocked next year, the demand for 200,000-ton tankers will explode, so if you build a shipyard before then, you will be able to suck honey.

No matter how much, you can’t eat beans roasted in lightning. Let’s think about it after starting the operation here.

“great. Think a lot and come to the Blue House next week.”

“…you mean next week?”

“Then, until when will you only think about petrochemicals? Lord, is that only enough?”

Thank you for acknowledging my ability, but isn’t it too much?

You have to run the factory properly to get investment funds.

If I don’t have any money, what if I keep pushing?

“Ah, yes. See you next week.”

It’s going to be a big deal if you keep getting it, so let’s keep our heads down.

When I go in this time, I must go with President Wang.

Putting him in the middle will definitely give me attention.

It’s also a good thing for President Wang.

Since the operating funds are insufficient, getting a job from the state would be helpful.

Isn’t he a nobleman of the right age, living well, and drinking well?

I just need to focus on continuing to grow my business with a strategy that is just half a step ahead of the original history.

“Okay, go see the owner.”

“Yes, Mr. President.”

I was just released from solitary confinement.

***

three days later,

Wow!

“Long live the mainstream shipping!”

“Long live the maritime prosperity!”

“Dad is back!!!”

Another fuss in Busan.

It was the day my ships entered Busan Port.

Like the eldest hyung, Daesae No. 1 came in first.

Even with a nice new paint job.

“After retiring from the Maritime University, I would like to formally greet the president as the captain of Daesae No. 1. We report that we have completed the formation of a major shipping fleet and have crossed the Pacific Ocean as a member of the Pacific Freight Alliance.”

“thank you for your effort. Captain Yoon Sang-soo!”

I was thrilled to see the neatly-clad people salute me.

At the wharf, the family members of the employees rejoiced waving flags that read, “Boguk in shipping.”

In this era, even the employees’ families seemed to have a special sense of belonging. I will make sure you live well.

“Mr. Wu, please accept my greetings. Frederick Smith joins Daesae Shipping.”

“It is very reassuring that Master is joining us. I hope you will be together for a long time.”

“It should be. Because of the passion of young Koreans, I have become 10 years younger.”

With his neatly trimmed hair and beard, he seemed to have really rejuvenated.

The appearance of a drunkard was nowhere to be seen.

Maybe it was because I had a lot of money and something to do, so I was lively.

“Let’s have a separate welcome party later. Rather, Captain Yoon. There was a complaint from the US shipping company that we loaded less goods to Quyen. What happened?”

“Because the boss’s order was more important than your order. Didn’t you tell the engineers to bring materials as well as the artisans to get any tools and parts they could find?”

I was bewildered by Captain Yoon’s words.

Because of how many parts they brought, they had no choice but to load less cargo?

“Heh heh, young people are working hard so I lent them 2 million dollars.”

“Yes?”

Two million dollars is quite a lot of money in this day and age.

You said you lent me all the money you got from me?

This grandpa is also a romantic. Also romantic era.

“I paid over 10 million dollars for ship repairs, fuel, and insurance, but are you saying it wasn’t enough?”

I gave you enough,

How many books and parts did you buy?

“Look over there. The boat is coming in just now.”

Captain Smith pointed toward the outer harbor.

I couldn’t close my open mouth.

“Waaa! hurray!”

“Long live the mainstream shipping!”

“Loyalty!”

It was amazing.

I was surprised once by the huge amount of books protruding from the container, and twice by all kinds of machine tools and mechanical parts that filled the deck.

Engineers and artisans were also proud, as they saluted the citizens with a snappy attitude.

‘Silhouette…how…’

But most of all, I was speechless at the steel structure that stood on the deck like a huge spire.

He was very similar to the guy I was with in my youth.

no way…?

“Fuck, how did you get this…”

As I got closer, it became clear what I was expecting.

Unknowingly, the curse came out.

“Welcome, friend Woo!! aaa! ”

It doesn’t matter how you got this.

Unbeknownst to me, a scream erupted.

He raised his arms in excitement.

The feeling that had subsided in Ulsan so far flew away, and adrenaline rushed through my whole body.

I’m going to be really, really rich.

“Look, I said the boss would love it! hahahaha.”

Watching Captain Smith scream, I knocked on the reliable ship.