This Is How I Became a Chaebol

088 : Ring of Money

“Are you making it into a joint stock company? Steelworks are a national key industry, so can we do that?”

“When the government owns about 30%, it is no different from a state-owned company. In addition, the corporate tax rate is 25% for state-owned enterprises and 35% for joint stock companies, so it is more advantageous for the country. The most important thing is that the investment money is gathered in pursuit of dividends.”

“Would developed countries want to invest in steel mills in developing countries?”

“Why are you being so timid even after inserting the most attractive clauses? Factory land, water, electricity, everything is said to be subsidized by the government.”

“That’s possible because it’s a state-run company…”

“We can make a special law for integrated steelworks. What can’t you do in Korea? Whatever you do, it will be better than spending money on claims against Japan.”

At my words, the officials nodded one by one.

Come to think of it, there is nothing wrong with it.

Whether it draws in loans or receives investment money, gives interest on loans or gives dividends, isn’t that what it is?

The reason why we should be wary of Japanese funds has already been sufficiently explained through Director Seok Ki-hun, so there is no need to repeat it.

I didn’t tell them, but in the original history, Japan won orders for 60 global steel plants in the 1970s through Pohang Steel’s construction performance.

If we complete the Pohang Iron and Steel project with our own hands, we can bring some of them.

“Then, how can we deal with the basic design? The Japan Steel Enterprises Association wants to sign a technical service contract with Korea.”

“Well? A technical service contract?”

“Yes, I have expressed my intention through the Economic Planning Board.”

The Ministry of Commerce and Industry, a key department of the promotion committee, was left alone and through the Economic Planning Board, which mainly does planning?

Through behind-the-scenes negotiations, an agreement was reached to conclude a technical service. It means that you have already received and eaten something.

Pretend to listen and insert a straw.

“You are going to seriously consider it. And send that contract offer to Bechtel Laboratories in the US as well.”

Since Bechtel is already building two power plants in Korea, it will not hesitate to participate in the technical service.

You must have realized the potential of Korea, so it will compete properly with Japan.

“Bechtel! All right.”

“Remember. We need to compete with Japan and the United States and, if necessary, with West Germany, to get the most favorable conditions. In particular, please select a report that will stimulate the U.S. Department of Defense. I will bring it to the Pittsburgh conference.”

“What type of report do you want?”

“We need to emphasize that we can localize the minimum amount of weapons and play a role as an advance guard for the free camp only when we build an integrated steelworks.”

“Are you linking the steel mill to national security?”

“Of course. According to the data, North Korea’s steelmaking capacity is 2.12 million tons, while South Korea’s is only 580,000 tons. In such a situation, you can request correction under the Korea-US Mutual Security Act (MSA).”

“The Chairman is right. Iron is the basis of industry and the cornerstone of national defense.”

Some committee members raised their hands and agreed with me. The fact that South Korea’s steelmaking capacity was inferior to North Korea meant more than numbers.

The main framework of US policy in Asia is to deploy South Korea and Japan as military and economic spearheads against the might of China and the Soviet Union.

In other words, while supporting Korea militarily, it supports Japan economically. For that purpose, it even gave the whole of Southeast Asia to the Japanese market.

Therefore, if policies that go against this logic are strongly questioned, investment can be obtained.

In other words, it is sending a warning message to the US Department of Defense that if Korea does not support the integrated steelworks, the US military strategy in Asia itself will crumble.

“Send that report to the Pentagon, and send it to Congress, the Department of Commerce, the Export-Import Bank, the World Bank, the US Agency for International Development (AID), and so on.”

“That’s a good idea. Coincidentally, recently, US policy makers have undergone a large-scale water change, and I think we can use that as an excuse to send a report.”

“A water change?”

“Yes, Robert McNamara, former US Secretary of Defense, has been inaugurated as World Bank President. There are quite a few other personnel changes as well.”

“Good for you. By the way, please organize that changed list as well.”

“Yes, Chairman.”

Has there been a large-scale personnel reorganization in the US political and business world?

That’s also in the midst of the Vietnam War, but the Minister of Defense was replaced? Could it be that there are already signs in the Middle East?

Well, next year, Israel will launch a surprise attack, so they may have informed US politics in advance of the plan.

The Suez Canal should not be blocked faster than the original history… Or, did the original history show signs from this time?

It’s hard to judge, but it’s clear that we must hurry. Even if you know the future, you don’t have money, so it’s hard to move forward like your heart.

“Also, Deputy Minister Yeom and Director Seok have to go to the US with me, so be prepared. I’ll do some other work and leave for America separately.”

“Haha, you’re with the boss again.”

Deputy Minister Yeom Won-cheol was pleased.

I’m not taking it because I like it.

It’s a ‘reporting channel’ that the president attached to me, so I had to keep it by my side and block the information.

I won’t even let you go near Telex.

It’s a big deal if information leaks like last time.

“Aside from the deputy minister, am I going too?”

“The West German government will also attend, so I thought it would be of great help if Director Seok joined us.”

“Ah, yes. I will prepare.”

I used the interpreter as an excuse, but I wanted to keep an eye on this man a little more about the Pohang Iron and Steel Works.

I wondered why a person of this level of skill was not revealed so much in the original history.

Well, the doctors from the Korea Institute of Science and Technology, who participated as committee members, also surprised me with their abilities.

It wasn’t even a blueprint, but the equipment specifications needed to build the steel mill were drawn out almost perfectly.

Even if you get the basic design service from Bechtel, if the doctors here and I work together, we will be able to come up with the best design in the 60s.

“Then see you in America.”

I got off work after almost a week.

**

Unemployment in Seongsu-dong.

“Sambok!”

“Chansu, don’t! Where the hell are you shooting from! I sent a telex with my daughter, but I can’t get in touch.”

Sambok came running and hugged me.

I was just crazy busy, but he must have been really worried about me.

“Are you worried?”

“Of course. I knew what had happened when I was dragged into the courtroom. After entering and leaving the Blue House, you should report where you are going, you bastard.”

“You are funny. Do you have the ability to get me out if I get dragged into the courtyard?”

“Even if you don’t have the ability, don’t worry, son of a bitch.”

It is both funny and sad that human rights oppression in the 1960s is being joked about like this.

“Enough of the joke, you should go to Europe. I also created the title of Special Advisor to the Comprehensive Steelmaking Promotion Committee, so it won’t be difficult to work.”

“Am I a special advisor? What are you going to Europe for?”

“You should take charge of Incheon Steelworks. As well as studying the steel business, sign a technical agreement with the steel company listed here and come.”

I handed the thick report to Sambok.

Will he notice that I’ve been up all night writing this report for about a week?

“Incheon steelworks, what kind of dog eats grass? Now I want to know a little bit about the textile industry.”

“In the textile field, there are many talented people better than you.”

“What?”

I looked around the heads of the office.

Each factory has already been filled with executives and educated by Sambok, so now the headquarters should be independent.

“Chief Bongsuk Kim.”

“Yes, boss.”

I called Chief Kim, whom I once called Miss Kim. Chief Kim jumped up from his seat and his eyes twinkled. I also feel good.

“Tell me honestly. Import and export business, fabric type, inventory identification. Does Director Lee Sam-bok know about this? Or does Manager Kim know well?”

“How can I do that with my mouth…”

“Did you see it? He knows better than you.”

“Why do you have to say that in front of me?”

“What is it? The time has come for you to win with Incheon Steelworks, that’s it.”

I poked at the report I had placed in his arms.

“Chief Kim, how long has it been since you were promoted to chief?”

“Yes, 8 months and 22 days.”

Um… It’s too early to be promoted to manager.

Okay then let’s go overboard.

“like. Then, from now on, I will appoint manager Kim Bok-soon as assistant manager. Organize the organization by dividing the import/export business and the product department.”

“Yes? Are you saying I’m an exaggerate?”

“If we lead the chiefs and maintain sales growth until the end of this year, we will be officially promoted to manager next year!”

“Oh my gosh, boss! I’ll do my best. I will definitely do it. certainly.”

Assistant Manager Kim responded with clenched fists.

Until now, he has been good at fighting and has excellent control over the organization, so he has set an example for other chief executives.

Even Sambok trusts him, so he’ll do well.

“Oh, Incheon Steel… What company are you asking me to sign a contract with in Europe? huh? The Austrian company Böst? West German Otto? What company name is this?”

Sambok wrinkled his brow.

Probably because it’s still an unfamiliar name.

It’s a strange name, but it’s a company that has revolutionized the steel industry.

“I will build an integrated steelworks, so make sure to conclude a comprehensive technology agreement no matter how much money it costs. It’s a really important contract. I’m not exaggerating, but our country’s luck is at stake.”

“… even the national fortune of our country… Don’t, why are you asking me to do such an important job? You have to go yourself!”

The clumsy Sambok was startled.

“Why? Because if I move, someone will be watching!”

“Who watches you? Courtyard? Or the secretary’s office?”

‘No, our competitors across the sea.’

“!!!!”

Sambok immediately changed his expression at my whisper.

With the expression that it’s a really important thing.

“Deputy Chief Kim! I’m going back to Europe in a hurry, so please take care of my work.”

“Yes, leave it to me. Manager.”

“Manager???”

Assistant Manager Kim Bong-sook immediately called Sambok a manager.

I was planning to send it away at this point.

I learned a lot about corporate life.

“I have to go to the managing director to work for Incheon Steelworks. Congratulations in advance. Director Lee Sam-bok!”

“Wow! I see. Treat yourself! Manager!”

“what? Are you already sending me to Incheon?”

“The managing director is a hundred times better than the director!”

“Farewell party today! hurray!”

Heads of the head office of the general unemployment headquarters hurrahed, shouting half-joking, half-serious, and farewell party.

Our company was getting more and more organized.

“Now, the whole factory dinner today! Notice.”

“Wow! The boss is handsome.”

“I’m not the cool guy, it’s Lee Sam-bok, the managing director. Isn’t the person who pays for dinner a dandy?”

“Yaaa! exciting.”

What could be more gratifying than a promotion to an office worker? Other employees were delighted first.

“Wait a minute! I’m going to give you a treat, but isn’t that too much? There was no recovery from the accident. Do you want me to move there right away?”

“Then let’s go now! And they say that only when there is Incheon Steel, they can pull out heavy plates for ships.”

“Ahhh, I have no idea what you’re talking about.”

“I wrote everything down in the report, so read it carefully. I’m going to go to America after stopping by Quyen, so we won’t be able to see each other for a while.”

“Kwwi Nyeon, you said you would never go to Vietnam again!”

“I’m not going to work, I’m on a business trip to the Vietnam branch.”

The guy shook his head and put the report in the drawer and locked it with the key. You seem to know that it’s an important document. I’ll read it all night anyway.

“Eh, what are you going to do with it? If the boss tells you to do it, you have to do it. Let’s go, I’ll buy you whatever you want, whether it’s soju, beer, or makgeolli.”

“Did you all hear? let’s go!”

“Wow, it’s an entire dinner party!”

Soon, the entire Seongsu-dong factory heated up.

Free drinks are always welcome.

Anyway, Sambok is also a busy guy, so there is nothing to spend money on except at times like this.

It was a strange feeling to say that I was going to Qunyeon after a long time.

I’m going for war scrap, but while I’m gone, I’ll check out my treasure trove.

I need to check how full it is.

“Oops, President Woo. Long time no see.”

As I was leaving the factory, I also met Mr. Hwang.

You enjoy taking a leisurely walk like a resident of Seongsu-dong.

“Haha, Old Man Hwang wears it too. Today is our all dinner party.”

“I don’t eat makgeolli unless it’s Dongtaejeon.”

“Eat as much as you like. Sambok gave me a treat today.”

“Eugh, this director pays?”

“I just got promoted to managing director.”

“Haha, I’m going to congratulate you. take the lead.”

Old Man Hwang was also with us.

If the time is right and the research institute is built, I want to make a seat for Mr. Hwang.

The fatigue that had accumulated throughout the week was released in an instant. It is also the most comfortable place.

***

two days later,

Vietnamese Quyen.

“Wow! Boss, you are here.”

“How have you all been?”

I came down to Saigon by plane and took a ferry to Quy Nhon. When I arrived at the port, the staff of Daesae Construction, who had come out beforehand, welcomed me.

The port seemed to be able to dock even a huge oil tanker in the near-complete stage.

“Waaa!!”

pop! pop!

When I got off the boat, the staff set off several bottles of champagne like fireworks.

It was also a place overflowing with military supplies.

“Welcome, boss.”

“President Jin Dal-rae, you’ve been riding a lot.”

My father had turned completely bronze.

No matter how much the polytech was wrapped, it couldn’t completely block out the tropical sunlight.

“If you think about the money you make, how about burning your face? haha.”

“Looking at the port, things seem to be going well. The airport must be nearing completion.”

“Yes that’s right. The construction has progressed to about 80%, and you can see that Quy Nhon has become impregnable. Of course, the dredging work in the Mekong River basin is also progressing smoothly as the Blue Dragon Unit is holding tight. Please go to the office, I will report to you.”

“Anyway, there is plenty of work, and it means that progress is going well, right?”

“Haha, that’s right. We will forward the report to you before you return home. If this continues, sales and profits this year will be as good as when you were the president.”

“Since you have received Da Nang and Cam Ranh ports, I don’t think it’s worse than when I was there, right? haha.”

Silver, who is no different from a semi-popular employee, went to Da Nang Port and Mark went to Cam Ranh and used our general construction workforce, so sales in Vietnam nearly tripled.

“It’s all thanks to the boss sending manpower.”

“It wasn’t just sent, it was a measure to allow employees to work on a rotational basis. Have you all been to Korea at least once?”

“Yeah!! president.”

The answer came out immediately.

Everyone seems to have gone home at least once.

I think he must have bought a bunch of presents from PX and shrugged his shoulders.

“Thanks to the boss, 60 people take turns taking vacations in their home countries every week. I also went three months ago.”

There are roughly 700 people here, so if there are 60 people a week, each of them goes on vacation once every three months.

“You are doing well.”

“When I was on vacation, I saw the boss on the news saying that he had pioneered a route to North America. You are so amazing.”

It seems that when I went to the United States, I stopped by Korea and returned to Qunyeon.

“What. Here in Quy Nhon, everyone works just as great. Where is the builder here that builds a port or runway so quickly?”

“you’re right. We will scrape together all the money of Vietnam. isn’t it? everyone!”

“The Daesei construction is the best!”

“go for it!!!”

“Waaa!”

Employees chanted “Going”.

good night. Compared to the original history, it seemed clear that the Vietnam special had worked more on our side.

“Now, let’s decide to relax at the beach in Area B this evening. I will come to see General Gothel.”

“Look at your work and come slowly. We’ll light a bonfire and prepare plenty of meat and beer.”

“okay. See you in the evening.”

I greeted our staff and went inside the Quy Nhon camp.

The operation command center, which was a container building in the past, has been changed to a large building with a signboard reading ‘Military Aid Secretariat to Vietnam’.

“Welcome, friend.”

“Hahaha, Gothel!”

General Gothel came to meet me personally.

Instead of a cigar, he took a pipe, a favorite of generals, and leaned on the veranda and waved at me.

Even when he became a general, he still showed a touchy attitude.