1953 Bare-handed Tycoon - Chapter 356



Only Noblemtl

356 – Korean-German Friendship Night

At the banquet hall of the Bando Hotel where the Korea-Germany Friendship Night event was being held, people from the Economic Association were already there.

After greeting Lee Byung-chul, Kijo headed to the table where the members of Cheonwoohoe were sitting.

Chung Ju-young of Hyundai Construction, Cho Joong-hoon of Hanjin, and Kim Jong-hee of Korea Explosives were also invited to the Korea-Germany Friendship Night.

AMKO’s Park Hee-jun was not invited, perhaps because he is American.

As Kijo sat down at the table, Jo Joong-hoon said.

“All the people from the economic association have come out.”

“That’s right.”

“Those guys are here to somehow get the vice minister. Saul Eisenberg is going to be the speaker today.”

The keynote speaker nodded.

Finally, Saul Eisenberg entered the banquet hall.

He entered with West German Ambassador Bungel and was seen shaking hands and chatting with key figures of the Supreme Council.

All members in charge of finance, economy, foreign affairs, and commerce and industry attended the Supreme Council.

He sat with the West German ambassador and the top members, a position that gave a clear picture of his status.

It was worth it, as West Germany provided a total loan of 150 million marks (about 37.5 million dollars).

The Friendship Night event began with Ambassador Bungel’s congratulatory remarks.

Saul Eisenberg took the stage as the second speaker.

He was a plump, balding man with a big nose.

As if he was used to such a situation, he smiled at the domestic and foreign dignitaries and began his speech.

“Korea is a country that will never remain poor because it has abundant minerals and farmland, three sides of the sea, and hard-working people.”

Eisenberg’s diary was met with applause from everyone present.

“We have a particularly honest, hard-working, and noble human resource. If we utilize all our resources centered around this human resource, we will be able to achieve an independent economy within 10 years.”

He spoke of hope, boosting the pride and morale of the Korean people.

The members of Cheonwoohoe also smiled as if they liked his speech.

“Now is the moment of ‘absolute opportunity.’ The free world that helped in the past Korean War will now help in the ‘second war’ that Korea is participating in. The second war! It can be called Korea’s revival and economic independence.”

Once again applause filled the banquet hall.

Chung Ju-young also applauded his speech and said a word.

“That guy speaks really well. Haha.”

As the applause died down, Eisenberg continued his speech.

“However, in order to revive Korea, we will need 2 billion dollars over the next 10 years. I know many ‘first-class’ manufacturing companies and banks in West Germany and the United States. The reason why Korea should deal only with first-class companies is because only by joining hands with such companies can Korea develop more powerfully.”

Eisenberg had a magnetic power. And he had wit.

“Korea is like a sleeping beauty. If only powerful princes would kiss Korea, the beauty would wake up and go back to her splendid palace.”

The attendees laughed and gave Eisenberg a hearty cheer.

Although Keynote was not dazzled by Saul Eisenberg’s ‘talking skills’, he did consider him to be a truly remarkable man.

“I would like the Korean government to immediately instruct the Korean embassies in Tokyo, Bonn, London, Washington, Paris, and Rome to fully cooperate with my activities. I can give them sufficient and effective advice to help them achieve results.”

Saul boasted of ten machine manufacturers in West Germany.

‘Arbeitsgemeinschaft’

Referring to the company as the “Producers’ Cooperative,” he promised that by pooling their strengths, they could comprehensively assist the military government in obtaining the long-term commercial loans it desired, as well as in developing underground resources in the Taebaek Mountain region, telegraph and telephone, and transportation projects.

“Also, I would like to thank Director Kim Jong-pil of the Central Intelligence Agency, who is not here. The reason I was able to successfully introduce the West German loan was because Director Kim Jong-pil delegated all negotiation authority to me.”

In the end, he even boasted without hesitation about his connection to Korea’s powerful figures.

I thought the keynote speech was very Eisenberg-like.

As soon as his speech was over, the businessmen got excited and wanted to talk to him.

Saul met with them one by one, gave them words of hope, then approached the table where President Lee Byung-chul was sitting and talked to him for a long time.

He held President Lee Byung-chul’s hand with his thick one and smiled cheerfully, making him smile.

I thought I could stop looking at the keynote.

I saw Saul Eisenberg’s sales pitch well, and I could feel his determination to make a lot of money by netting every single Korean customer.

After finishing his conversation with Lee Byung-chul, Saul approached the Cheonwoohoe table and greeted Kijo.

“Hello? Are you CEO Lee Ki-jo?”

Saul offered a handshake.

The keynote took his hand.

“I’ve heard a lot from Krupp. They really praised the president. They said he’s a real businessman. Hahaha.”

The members of Cheonwoohoe smiled as they saw Saul come to the table.

After greeting the other members, Saul began talking in earnest with Kijo.

“I heard you are working hard in the steel business. I heard you are mainly working with American companies. If you are going to do that, how about working with Krupp again to build an integrated steel mill?”

The keynote speech was that he felt that he was being targeted after President Lee Byung-chul.

“We are already pursuing several major projects with the Korea Economic Association. We are pursuing a comprehensive steel mill with the Korea Yanghoe, and a fertilizer plant with Samsung.”

Saul revealed that he is pursuing a loan of about $100 million with Daewoo Cheil Industries, which is pushing for a steel mill, and about $50 million with Samsung, which is building a fertilizer plant, and that he has significant relatives.

The members of Cheonwoohoe’s mouths dropped open at his words.

Saul proposed that Cheongsando participate in a $100 million integrated steel mill project with Daehan Yanghoe.

But the keynote was cold in his heart.

What he said was progress was merely an exchange of preliminary agreements between the vice ministers. It was a kind of tentative contract, and it was a project that would have been canceled in the original history.

Saul, reading Gizo’s mind, made another suggestion.

“Sir, you are in the transportation and shipping business. How about manufacturing your own trucks and buses? Joint production with West Germany’s MAN and Mercedes-Benz is possible.”

Joong-Hoon’s eyes sparkled at the mention of self-production of trucks and buses.

President Chung Ju-young, who had experience running an automobile factory, also showed interest.

Saul, riding the momentum, opened his mouth.

“Japanese HINO and FUSO are not bad either. They are not as good as West German products, but they are cheaper. Hahaha.”

The keynote speech felt like entering a department store of industry.

The problem was that the department store was a huge rip-off.

“You run a fertilizer plant and a cultivator plant in Ulsan, right? You’re also building a steel mill and an automobile plant in Ulsan. In the Soviet Union, they call that a kombinat.”

*Kombinat – a regional combination of several technically related production sectors located in close proximity

“It would be Cheongsan Kombinat. Oh, should I call it Ulsan Kombinat? It would be good to change the name of the area, Ulsan, to Cheongsan. Hahaha.”

Saul laughed heartily.

The members of Cheonwoohoe gulped at his dreamlike story.

If the business was realized as he proposed, it would only be a matter of time before Cheongsan surpassed Samsung to become the largest conglomerate in Korea.

The keynote speaker pretended to think for a moment and then said to Saul.

“Mr. Eisenberg, how about getting West German companies involved in KISA?”

“Ah… KISA?”

Saul looked slightly taken aback by the name KISA.

“Of course KISA is good. But how long will it be buried in the shadow of USOM and subject to interference? USOM will run KISA as they please. Korea also needs to show the US that it can achieve an independent economy.”

Saul spoke as if he loved Korea very much.

Maybe I could truly love Korea.

Because Korea was an innocent child who filled his pockets.

“General Van Fleet said he would soon form an investment consortium in Korea. I think we can wait until then.”

The keynote provoked Saul by mentioning his rival, Van Fleet.

Saul heard that and made a subtle counteroffer to Gizo.

“If you tell me how much the American company is asking, I will create a business for less than that. There is nothing that West Germany can make worse than the United States. Oh, except for space rockets. If you want to send a man to the moon, you have to join hands with the United States. Even Germany can’t do that. Hahaha.”

Saul’s experienced and sly attitude made Kijo laugh out loud.

“Mr. Eisenberg, your truck and bus business proposal is very attractive. If you could give me a more detailed proposal later, I would seriously consider it.”

The keynote speech was that Saul’s proposal to produce trucks and buses made sense.

Both the United States and Japan were very reluctant to provide automobile manufacturing technology.

If we could introduce a truck production base from Germany or Japan through him, we thought we would be able to produce domestic trucks and buses in the future.

“It’s an excellent choice. First, it would be better to develop related industries that can strengthen existing businesses.”

When Kijo took an interest in the automobile industry, Cho Joong-hoon and Chung Ju-young looked at Kijo with relief.

Eisenberg moved to another seat and Gijo spoke with members of the Cheonwoohoe.

Everyone was excited to hear Eisenberg’s story.

“I want to start a business with domestic trucks and buses.”

Joong-Hoon said.

“I worked in the auto industry, so I know what a good car is. What kind of car is the best? When a car is driven on a bumpy road, it is inevitable that it will break down. So a good car is one that is easy to fix and has cheap parts. If possible, it would be good to produce and sell passenger cars as well. If the number of imported cars decreases, it would prevent the waste of foreign currency, so how great would that be?”

Joo Young-do also spoke.

Even Kim Jong-hee of Korea Explosives was excited about the possibility of producing automobiles.

“Mr. Lee, if we make trucks, can’t we also make armored vehicles? Hanwha can produce gunpowder for the machine guns on armored vehicles. Hahaha.”

Everyone came forward offering to invest if Kijo started an automobile business.

“If the conditions are right, we will join hands with any company, whether it be West Germany, the United States, or Japan.”

Kijo thought it would be great if he could start an automobile business with members of Cheonwoohoe.

The automobile business in the 1960s was risky, so it seemed like a good idea to share the burden.

“It would be good if the steel mill was built quickly. If we use the iron produced there to make cars and engines, we can make them more cheaply.”

Kim Jong-hee said with a smile, as if just thinking about it made him feel good.

As the Korea-Germany Friendship Night was coming to an end, Kijo went to greet Lee Byung-chul before leaving.

When Kijo said he would go first, Lee Byung-chul had Kijo sit down.

“Let me talk to you for a moment.”

Lee Byung-chul asked for understanding from people in the Economic Association who did not like the keynote speech.

As the people from the Economic Association moved to their seats, Lee Byung-chul began to speak in earnest.

“I’ve been looking around the country for industrial sites, but no matter how I look at it, there’s no place like Ulsan, which borders the ocean and has the Taehwa River flowing through it.”

The Economic Association also knew that Ulsan was being selected as a site for a large-scale industrial complex.

“I wish the Economic Association’s factory would also come to Ulsan.”

When Kijo spoke willingly, Lee Byung-chul’s face also brightened.

“Really? If this president is okay with it, we’re okay with it. But I’m also thinking of building a fertilizer plant in Ulsan. Is that okay?”

Lee Byung-chul predicted that he would become a rival in the fertilizer business.

The keynote didn’t matter.

Although the profits from the fertilizer business may have decreased somewhat, for the sake of the national interest, he had to build a fertilizer factory to supply fertilizer to farmers across the country at a cheaper price and in greater quantities.

“Of course. Wouldn’t it be great if we could import and export raw materials together? If the factories are all gathered in one place, I think the government will build power plants sooner.”

“Haha, it would be good in many ways. And Mr. President, I would like to produce urea fertilizer. Cheongsan produces nitrogen fertilizer, so there is no overlap, right?”

“How about producing compound fertilizer together? By mixing fertilizers from both companies.”

Lee Byung-chul laughed out loud at the keynote speech.

The people of the Economic Association and the members of Cheonwoohoe looked at Kijo and Byeongcheol laughing loudly.

“I feel a little bit hurt that this CEO doesn’t seem to see Samsung as a competitor, but can’t we grow the market together? Let’s do our best.”

Lee Byung-chul spoke with humor.

Kijo felt like he was getting closer to him little by little.

The fact that there is no benefit to engaging in a war of attrition with Samsung in Korea was also revealed in the US$1 billion project.

It was the fate of Korean companies to develop their own areas of expertise and then go overseas to sell their products.

The keynote speech was able to conclude the last external schedule of 1961 with a warm conversation with Lee Byung-chul.

The year 1962, which was soon approaching, was a time when businessmen came together and worked to rebuild the economy in the face of difficulties on the level of the foreign exchange crisis.