This Is How I Became a Chaebol

091 : How Shipping Companies Make Money

Austria, Linz

“What ironworks are there in the countryside?”

No matter how much I looked around, all I could see was a cow grazing leisurely.

It was a place where you could hear a yodel song.

Chan-su, who had flown to the United States, could not be questioned, and the documents only stated that they were to enter into a comprehensive technical cooperation with the nearby Boest company.

In Germany, where we first stopped by, it was a simple matter of buying a patent for the ‘thin plate casting method’ from SMS and the ‘by-product gas recycling method of steelmaking’ from Otto.

Of course, it’s only your company that has taken out a patent and bought it in a country that doesn’t even have a steel mill yet? I did tilt my head.

“Me, Mrs. I would like to ask you something.”

“Yes, please.”

“Is there a factory called Wöst here? They say it’s a steel mill.”

I asked the woman who was feeding the sheep for directions.

I wasn’t very fluent in English, but I was able to ask for directions. The German words I learned a little in high school worked better together.

“ironworks? ah! See the building under the mountain over there? It’s an ironworks there. Go.”

“Ah, yes. thank you.”

When I looked at the direction he pointed to, I was stunned.

It wasn’t a factory, it was a brick house that was falling apart, and there wasn’t even a signboard hanging there.

Moreover, cows were grazing in the front yard.

If I had to look for something that could be called a steel mill, I could see something like a pot made of iron behind the house, and next to it was something that looked like a kiln.

To be honest, the fact that there was a steel mill in such a clear and scenic place was absurd.

When it comes to steel mills, isn’t it the first thing that comes to mind when you think of black smoke and waste water?

“hello. Mister.”

“Yes, what are you doing?”

I talked to the man who seemed to be the landlord here.

His beard was so bushy that it was difficult to guess his age.

“Is this the Wöst Ironworks?”

“Uhm, did anyone still call me by that name? Anyway, this is what was once called the Alpine Montangelshaft Wöst Ironworks (the Wöst family steelworks of the Alpine Mining Association).”

It seemed to have come to the right place somehow.

Although the company name was more difficult.

“Nice to meet you. My name is SB Lee from Korea.”

“Korea?”

“It’s a small country in Far East Asia.”

Sambok took out a world map and pointed out Korea.

It was the same thing I did when I introduced myself in Germany.

“Oh, I see. I am Johann Wöst. By the way, what is the reason you came here from so far away?”

The man asked, putting down the milk jug he was holding in his hand. It was because he noticed that Sambok was not just a passer-by.

“I came for technical cooperation with Böst to build an integrated steelworks. If you provide comprehensive technical cooperation, we will accept any conditions within the scope that our company can support.”

Sambok spit out the words he had prepared.

Of course, I felt a little sad about myself saying this.

Even though he didn’t have much money, he was dumbfounded to say that he would accept any conditions, but it was because it was unlikely that a company like this would have the technology to build a comprehensive steel mill.

‘Why did Chansu say that the fate of the country was at stake in this matter? I wouldn’t have called it a joke.’

The name of the company, Wöst, was too unusual to say that Chansu mistook the company.

“I don’t understand, but since you’re here, eat inside.”Read at readwn

Johann Böst invited Sambok to his house.

“Wow, it’s not a steel mill, it’s a steel research institute.”

Sambok was surprised when he entered the house.

All sorts of blueprints were strewn about the house, and what looked like furnaces were strewn about in the backyard seen through the windows.

From a distance, I thought it was a smooth metal pot, but up close, it turned out to be a rather complex structure.

“We, the Böst family, have been running steel mills for generations. It was once quite large, but the war wiped out the factory. All that remains for me is to finish the studies my grandfather and father were doing.”

Some of the blueprints hanging on the wall seemed to be new paper, so it seemed like they were constantly researching.

“I understand how you feel. Our country was also devastated by the Korean War, and the country is still in trouble.”

“Was there a war in Korea too?”

“Yes, that was 15 years ago and we are in the middle of rebuilding now.”

Yohan offered Sambok a glass of milk.

It must have been because it was not appropriate to recommend it, but it was a thank you to Sambok, who had skipped lunch.

“Are you going to build an integrated steelworks in such a country?”

“Yes, so we are going to establish a technical cooperation with Wöst.”

“Are you saying you know what my research is?”

“I do not know. It’s just that my friend said it was a very important technology for building an integrated steelworks.”

Even though he was embarrassed to speak, he followed Chansu’s instructions.

“Uh huh, this is so… I don’t know what to answer.”

“I was dumbfounded by what my friend said, but now I understand. Wouldn’t the country he dreams of be a country like this?”

“What do you mean, a country like this?”

“It is peaceful. I heard when I was crossing the border that this is a neutral country.”

Sambok came to Austria with difficulty.

It bordered communist countries in all directions, including the Czech Republic and East Germany, and faced Italy in the southwest.

I could fully understand what Austria’s geopolitical position meant.

“Is Korea also a neutral country?”

“No, it is the advance guard of the Cold War. It is a delusion to say that such a country keeps peace without a steel mill.”

Sambok said that while looking at the meadow beyond the window.

“I understand what you mean.”

Yohan felt the sincerity in Sambok’s eyes.

I didn’t know that I would feel a sense of kinship with someone I saw for the first time.

“Can I hear the techniques of the Wöst family? I swear to absolute secrecy.”

“… good. Come here.”

Yohan jumped up and led Sambok to the backyard. I couldn’t understand why he was doing this.

He had never once told anyone about his family’s skills.

However, the body moved on its own.

As if you’ve been waiting all this time to inform this person.

“Our Böst family’s technology is to crush iron ore and anthracite coal into fine powder and burn them directly in a fluidized furnace.”

Yohan explained the metal pot connected by complicated pipes, calling it a fluidized furnace.

“Is it different from the existing steel mill?”

“Yes, the existing blast furnace method requires a separate sinter plant to make iron ore into lumps and a separate plant to make bituminous coal into coke.”

“!!!!”

“It is a necessary skill in Austria. Iron ore and coal excavated in Korea are not very good quality. If this technology is commercialized, there will be no restrictions on making steel. and…”

“Low quality iron ore…coal…”

Yohan continued to explain, but Sambok had already entered a completely different world.

If Austria’s iron ore was of low quality, it seemed that Korea’s iron ore could not be considered for quality.

I don’t know how Chan-su knew about this technology from Wöst, but this technology was extremely necessary for the integrated steelworks in Korea.

There is no need for pretreatment, and most of all, it is said that you can use low-grade iron ore and ordinary anthracite.

When building a factory, it seemed to be able to save not only construction costs, but also tremendous savings in operating expenses.

As Chansu said, I realized that national luck was at stake.

Why didn’t others see the value of this technology? No, others are still unaware of the existence of this technology.

“Mr. John. Would you like to go to Korea?”

“Yes?”

“Go to Korea and make your dreams come true. Let’s build a general steel mill in this way in Korea.”

“Lee, this is a technology under study. 10 more years of research will be needed to realize the possibility.”

“it’s okay. My friend is as much a genius as Yohan. If we work together, we will surely succeed.”

“… uhm… how should I accept this.”

“Any contract terms are fine. I will be your colleague. I risk my honor!”

Sambok signed the contract without hesitation and presented it.

Almost all items were left blank.

It was like a blank check.

Coordinating the contract is Chan-su’s job.

His job is to take Johann Wöst to Korea.

“… Let’s start with a meal.”

“You can’t get food for free. I’ll even clean out the barn.”

Sambok rolled up his arms and ran to the barn and started to clean up the cow dung.

Those who know hunger, those who know the sorrows of a weak country, those who know the value of labor…

Read at readwn

Johann Wöst has found the perfect companion.

It seemed that the time had come to fulfill his father’s will.

Read at readwn

Johann Böst organized the blueprints and materials on the wall. The integrated steelworks design data, which were modified and revised over three generations, seemed to be enough to exceed several boxes no matter how tightly packed it was.

***

Similar perspective, Pittsburgh Hotel VIP Room.

“Before discussing a $150 million investment, shouldn’t we decide who will do the design?”

Foy, president of Coopers Inc., started talking.

He was the one to be most careful with.

He was trying to sell me old-fashioned equipment.

In the original history, the United States pushed outdated facilities under the pretext of loans, West Germany pulled out at the last minute because it did not trust Korea, and Japan came out amicably to secure results.

Of course, at first, Japan gave equipment cheaply, and later, it was technical service, maintenance, and production expansion, and for a long time, it stuck straws in Pohang Iron and Steel.

It’s just a rule of the game that there are no good guys in the business world.

“The design and facilities will be submitted for private bidding.”

“What kind of private bidding is it when Korea is not even capable of presenting design specifications? Did you know that Coopers recently designed and successfully completed the Erdemir steel mill in Turkey? Leave the design to someone you trust.”

Coopers said it would take the initiative.

“Erdemir of Turkey? A steel mill that only produced 200,000 tons of a 500,000-ton production plan? To call such a design a success, Coopers would be automatically eliminated. Here are my specifications.”

I took out the bidding contract from the briefcase I had brought and warned President Poi.

I am A and you are E.

Forget about America or Korea.

“This… how could it be…”

“Keu-hum, that’s a pretty plausible bid.”

Of course. If I can’t meet the specifications I want, I can’t even bid.

It has made it clear that it will reject old cheap equipment.

“Haha, with these specifications, Blonox should be in charge of the design. I offer $20 million in commercial loans.”

“Westinghouse wants a power plant contract for $20 million.”

Already got 40 million dollars in loans?

If you add up the compensation of 20 million dollars from the West German government, the total is 60 million dollars, and the government’s stake in Pohang Iron and Steel is over 35% at once. It was already stable.

“good. Please review the contract and sign it.”

I handed over the commercial loan agreement.

A 7% annual interest would be very attractive to them.

“As expected, it’s the CS answer. The integrated steelworks will surely succeed. BR invests 30% of the shares. What do you think?”

“good.”

Van Flint hooked and came out.

Also the barrel is big. It seems that he regretted not being able to do it vigorously in the name of BR during the last petrochemical complex investment.

“Then, I will be the investor representative.”

“Siemens and Demark are jointly investing 30% of the shares. Then we will become the investor representatives, right?”

“Then BR makes it 35%.”

“Ah, then the equity investment is closed with this. 35% already have existing investors.”

should stop here

No one with more than 35% stake should appear.

The Korean government should be the largest shareholder.

BR is also friendly, but the 35% stake will still have to be adjusted at the time of the final contract.

“Ugh! Where is that law? Silverstein will also take a 10% stake.”

“Aren’t other companies not even able to invest in equity? Where is this law?”

After he was quiet, he started talking when he said he was closing the equity investment.

After all, if you ask for it, they won’t give it to you, but if you say it’s done, it’s money to forcefully entrust it.

that is great. All you have to do is tell them to split the stakes among themselves.

“It is difficult to make decisions if the shares are divided excessively, so let’s do this. If you really want to invest in equity rather than commercial loans, please consult separately with BR and the Siemens Association.”

“As expected, it’s cool like a CS.”

“No, are you fooling the Pittsburgh Steel Federation? I am the party host here.”

“What is it? Can I treat you as a guest when you’ve crossed as far as the Atlantic Ocean?”

As Van Flint lazily looked down at the crowd, Coopers, as well as British and Italian companies, all flitted.

In particular, Cooper’s was snorting and was on the verge of exploding. After Nancy and Van Flint were so sure, the others struggled.

“Sheesh, this is America, why are other countries doing this?”

“Lady!!!”

“Whoa, everyone calm down. CS, Nancy, calm down. I’ll sort this out.”

Van Flint came out and drove Nancy out.

As the atmosphere heated up, he meant that he would take care of himself as the investor representative.

If you deal with each other, the money will eventually be filled, and Korea will be the largest shareholder.

As expected, the successful performance of attracting investment in petrochemicals has become a great asset.

I leisurely filled up a glass of jackcock, grabbed Nancy’s arm, and left the room.

***

“CS, do you have something to say to me?”

“sure. So here it is.”

I took Nancy out to the cool veranda.

We needed a place for just the two of us.

It is a general steelworks to eat Incheon Steel.

Dealing with Nancy was entirely my own business, so this was also important.

“What is going on? what you have to say to me.”

“What’s going on with the Pentagon?”

Nancy froze as she hooked and hit it.

“What… is there something going on? What a boring joke.”

“By when do I have to prepare anything? Wouldn’t it make things a little easier if I helped?”

“What the hell kind of person is you… no, how much do you know?”

When I offered to help, my eyebrows twisted slightly.

do u need help?

“I was curious rather than knowing. Does it make sense for the US Secretary of Defense to become World Bank President when the Vietnam War is in full swing? Meanwhile, you’re here at a party, and it’s weird.”

“Uhm, are you saying you skipped it? Or have I fallen for CS’s flair?”

“What does it matter? I’m a shipping agent anyway, loading whatever Silverstein gives me and putting it where I want it to go.”

“Hoho, I like that.”

“I’m just talking. What should I bring from where and how long should I keep it?”

Crude oil, iron ore, whatever.

Isn’t resource speculation a representative business of the Jews?