I Am the Third-Generation Heir of a Conglomerate - Chapter 498



Only Noblemtl

498. The saboteur (3)

The next day.

I found a shabby restaurant with my grandfather.

It was a restaurant that looked like a food stall specializing in rice noodles.

“Do you see that pot of broth over there?”

“It looks like a cauldron for boiling pork soup.”

“It looks like there’s cement on the side of the pot, but that’s just the fat that’s formed as the broth boils over.”

“This is where the tradition of this store is embedded.”

The overflowing fat from the broth was so thick that the solidified part was over 30 centimeters long.

This meant that the restaurant was confident in its broth, and that it also had a long tradition.

“This is the rice noodle restaurant I often come to. And the person who introduced me to this restaurant is waiting inside.”

“You eat jajangmyeon every day in Korea, but when you come to Vietnam, you only eat rice noodles?”

“There’s nothing more wasteful than wasting time eating. Let’s go inside.”

As we entered, a warm-looking person was waiting for us.

Maybe it was because of his simple attire, but he looked like an old man you would often see in the neighborhood.

[Am I too late? I’m a little late because I had to get dressed up to introduce you to my grandson for the first time.]

[It’s not late at all. I just got here. Hehe.]

My grandfather spoke Vietnamese fluently.

I prided myself on being able to speak several languages, but I couldn’t speak Vietnamese.

Instead, I used the real-time interpretation system that Director Cheon Min-jeong created for today, and I was able to understand how the conversation was going.

“Nice to meet you. I am Kim Min-jae, in charge of Taewoo Group.”

“Nice to meet you. I’m ‘Suong Phuc.’ I’m your grandfather’s brother. You can call me Uncle Phuc comfortably. Hehe.”

It was Xuong Phuc who greeted us in English.

But the moment you check his detailed information, you realize that he is by no means a warm-hearted person.

One of the candidates for the next leader of the current Vietnamese government was Xuong Phuc.

He was currently a high-ranking official among the highest-ranking officials holding the office of Prime Minister.

And he was also a pro-American figure in the Vietnamese Communist Party.

“I am very happy to meet you, Prime Minister Pook. I really had no idea that the person my grandfather introduced me to was Prime Minister Pook. I am honored to meet you like this.”

“I told you to call me uncle. Hehe. If you keep calling me that, I should sit up straight too.”

“Then, I will call you uncle for convenience.”

There was no need to make the atmosphere unnecessarily stiff.

Since he seemed to be close with his grandfather, I kept the mood light by jokingly calling him uncle.

“I’m finally seeing the face of my grandson, who I’m so proud of. He’s definitely worth bragging about.”

“I was quite famous in my old days, but not as famous as my grandson. He is the kind of guy who makes this old man look very shabby.”

“First, let’s eat and then listen to my grandchild bragging about himself.”

Three bowls of rice noodles are ready.

Grandfather and Mr. Pook buried their faces in the bowls and ate the rice noodles.

Since I love noodle dishes so much, I inhaled the rice noodles at a fast pace.

“This is my first time having a broth like this. The meaty flavor is really strong!”

“You know how to eat broth, too. You became close with your grandfather through broth. It’s not easy to meet someone who knows how to make broth.”

“Next time I go to Korea, I’ll introduce you to a noodle restaurant that makes really good broth. I know a place that makes broth that’s just as good as the broth you get here.”

The story about broth lasted for 30 minutes.

Only then did Prime Minister Pook get to the main point.

“You didn’t just bring the chairman of the most successful conglomerate in the world here, did you have something to say?”

“My grandson brought me a plan for Vietnam and Taewoo Group to grow together. You tell me.”

“Taewoo Group has been investing heavily in the development of minerals in Vietnam for the past five years. One of them is the Dongpao rare earth mine. In order to diversify the import of rare earths, which are monopolized by China, it is absolutely necessary to increase the production of the Dongpao mine.”

He immediately brought up the story of the rare earth mine.

Then Prime Minister Pook sat up straight, transforming from the old man next door to a politician.

“There are a lot of rare earth minerals in the Dongpao mine. However, compared to Chinese rare earth mines, their profitability is not good, so there are big problems with development.”

“China’s labor costs are also rising significantly. And if we use advanced mining technology, we can be competitive with Chinese rare earths. Taewoo Group will take responsibility for everything from rare earth mining to sales.”

Rare earth elements are called the vitamins of the IT industry.

Previously, Vietnamese rare earth elements were less price competitive than those from China.

But as demand for rare earths grows, they are now fully economical.

“I guess it’s not a problem if Taewoo Group takes responsibility. But wouldn’t mass mining be difficult due to regulations?”

“Yes, deregulation is essential. We have already completed everything from mine development to infrastructure development. If only deregulation could be done, large-scale mining would be possible starting today.”

Taewoo Corporation was reporting deficits exceeding several trillion won every year.

The deficit from mining development accounted for more than half.

But how frustrating would it be if we couldn’t produce properly because of regulations?

“In the end, isn’t it the public sentiment? Even though Vietnam is a country ruled by the Communist Party, it cannot push through policies that go against the public sentiment.”

“I have come up with several policies that will win the hearts of the people. We are planning to relocate many of our production plants that have withdrawn from China to Vietnam on a large scale. We are also planning large-scale FDI (foreign direct investment).”

Vietnam had the makings of a new production base.

It was a country with cheap labor, preferential policies for foreign companies, and good export and import infrastructure.

Vietnam is a country that has seen its economy grow more than 35 times in 30 years, and this growth was possible thanks to foreign investment.

“I think the answer will vary depending on the size of FDI.”

“The Taewoo Group has already invested in Vietnam through many affiliates in accordance with my grandfather’s wishes. And now we are planning to build a production plant in Vietnam in earnest. We promise to invest at least 30 billion dollars in FDI over the next five years.”

Vietnam attracted less than $30 billion in FDI last year.

However, Prime Minister Pook smiled broadly when Taewoo Group alone promised to invest the same amount of FDI as last year.

“Are you saying that you are investing that much? Isn’t it enough to just expand the factory?”

“If we only enter the manufacturing industry, it would be an impossible amount, but if we enter the financial industry, it is a very possible amount. In fact, we may be able to attract funds worth more than 30 billion dollars.”

A massive offensive, along with my grandfather’s connections.

There could not have been a more perfect combination, and it immediately captured the heart of the award winner.

“I will take responsibility and relax the regulations on the Dongpao mine. I will allow large-scale mining within this month.”

“And I would also like to ask you to regulate other rare earth mines. In addition to the Dong Pao mine, Taewoo Group has developed many rare earth mines throughout Vietnam.”

“That too, I promise. In return, Taewoo Group will also have to keep its promise.”

“Taewoo Group will also keep its promise within this month. You will be able to hear good news as early as next week.”

Prime Minister Pook once again smiles happily.

In addition, my grandfather also provided support fire from the side.

“Wouldn’t my grandson break his promise? His grandfather is in Vietnam, so wouldn’t he know how to take care of it?”

“Haha, I guess that’s true.”

“And which company has invested as much in Vietnam as Taewoo Group? Taewoo Group has already established itself deeply in Vietnam.”

“Okay, I’ll stake my position and make sure we can mine rare earths in large quantities.”

“I will separately provide the funds needed for deregulation.”

“Oh! Even cold water has its ups and downs. Don’t worry about political funding. This old man will take care of supporting you.”

I was the chairman of Taewoo Group.

In Vietnam, the chairman of Taewoo Group was like a grandfather.

Although I had the final say, I always gave my grandfather unconditional approval for anything he wanted to do.

“I’ll have to brag about my grandson later. If we want to solve the rare earth mine problem quickly, we need to take action today.”

“The election is just around the corner, right? I’ll take responsibility for the campaign funds.”

“We will completely resolve regulatory issues not only for the Dongpao mine but also for all rare earth mines.”

Prime Minister Pook got up from his seat and went outside.

I knew from the moment I started eating rice noodles that he was a very impatient person.

However, his abilities never declined, and his political power in particular was of a very high level, so he was trustworthy.

“Thanks to my grandfather, I was able to easily solve regulatory issues.”

“If it costs 30 billion dollars, it should be resolved easily. But is that okay? I know that rare earth mines are important, but it doesn’t seem worth investing 30 billion dollars in.”

They didn’t just give away $30 billion.

The intention was to attract 30 billion dollars in the name of investment.

Securing a new production base after China was absolutely necessary.

Moreover, if you enter the financial business, it is possible to double your business rather than just recover your investment.

“Even if we incur a deficit in the process of securing a production base, I am confident that we will at least not suffer a loss if we advance into the financial industry.”

“The Vietnam branch of Taewoo Securities has grown quite a bit. And since AIZ Insurance has a firm hold on Vietnam, it’s not a bad decision.”

“And under the pretext of developing mines and expanding factories, Taewoo Construction could also enter Vietnam. Just looking at those advantages, it’s worth $30 billion.”

If you’re going to invest, it’s better to do it hot.

That way, we can win the hearts of the people and take the initiative.

“I’ll take care of the rest. I’ll make sure that the rare earth mines in Vietnam, as well as other mineral mines, are open for large-scale mining.”

“I feel very secure because my grandfather is in Vietnam.”

“And I have developed relationships with high-ranking officials not only in Vietnam but also in other countries in Southeast Asia, so I will also solve the problem of developing mines in Southeast Asia.”

I guess my popularity is higher worldwide.

In Southeast Asia, including Vietnam, my grandfather’s popularity may have been higher than mine.

This was possible because he actually resides in Southeast Asia and exerts influence there.

Thanks to this, the problem of rare earth mining could be easily solved.

If only mass production of rare earth elements could be achieved, it would be like securing one card to suppress China.

“Grandpa, there really isn’t much time left. In just two or three years, Taewoo Group will be able to rise to the top in the world.”

“You’ve always been looking higher than I thought. I’ll be watching from here to see how far you can take Taewoo Group.”

My grandfather patted my shoulder.

Before the regression, our relationship was one of love and hate, but in this life, there was no feeling of hatred between my grandfather and me.