This Is How I Became a Chaebol - This Is How I Became a Chaebol chapter 100

100 : my people

“We will hold a blasting ceremony for the historic Pohang Steelworks. VIPs, please press the button.”

“Three, two, one, blast!”

Kwak Kwa Kwam!

“Waaa!”

At the same time as all kinds of camera baptism, reporters broadcast live on TV with voices full of emotion.

It was different from the ground-breaking ceremony where the government officials attacked and took away all the deputy prime minister and his party not too long ago.

“This is a real groundbreaking ceremony. Isn’t that so, Imja.”

All construction projects were conducted through open bidding, but most of the construction was self-willed and uncontested, and Hyunsan Construction and Dorim Construction took on the rest.

Large-scale construction is a battle over who has the most heavy equipment, and in addition, I had a background of BR and a lot of technicians, so it was very advantageous to win the bid.

“Yes that’s right. It is meaningful to announce it internally and externally only when the President supervises, invites investors, and brings equipment.”

“Anyway, it’s good that I suppressed the absurdity in the beginning.”

The president spoke nonchalantly, as if talking about the past. In the political world, it was still a matter of keen interest in who and how much bribes were taken under the pretext of the integrated steelworks, and how far the court’s investigation would spread.

“By the way, is it okay to push a private house like that? I don’t know if I’m guilty or not.”

“They are all empty. And next to the village they are moving to, we plan to build a foreign residence called the Deputy Minister’s Apartment. There will be a school and all kinds of amenities, so it will be a great benefit to the villagers.”

“You mean making a foreign village?”

“Yes, foreign technicians will stay with their families throughout the construction period. Some of them may be recruited as employees when Pohang Iron and Steel is completed.”

“Hahaha, there must be a reason why the relevant ministries didn’t say anything else even though the Promotion Committee spent 30 million dollars on civil engineering works.”

30 million dollars could be spent cleanly by building a landscaping work, roads, ports, water supply and sewage, industrial water, and even a foreigner’s village.

Only when everything is used up will there be no room for Japan to squeeze in.

“If technical cooperation continues steadily with Pohang Iron and Steel as a bridge, Korea will be in the top five in terms of steel technology.”

I said confidently to the president.

Although the FINEX method is said to be the best in the world, there are still many mountains to overcome in the field of special steel.

“I’m fine. Anyway, the only person who can mobilize so many craftsmen at once is the owner.”

“I didn’t mobilize, they were waiting for their time. Some people tend to ignore the artisans as unlearned people, but the artisans here have a special desire to improve. Since they are key personnel, we plan to actively absorb them into Pohang Iron and Steel in the name of the promotion committee.”

The 3rd Hwang Hwang-jong is planning to hire full-time workers by separating them into Pohang Steelworks and Daesae Construction.

I have no intention of acquiring a stake in Pohang Iron and Steel.

It is better to establish itself as a steel plant operator after taking care of Incheon Steel.

It is even more damaging if you hold a stake in Pohang Iron and Steel Co. and become embroiled in politics.

“The core personnel… Come to think of it, there are quite a few technicians as well as technicians. You seem to be good at talking to foreign engineers.”

“If you are a veteran, you can communicate well in your field of expertise even if your English is poor.”

“Are there steel experts in Korea?”

“These are experienced workers from the ruined Samhwa Steelworks. After retraining at Incheon Steel, I brought him to Pohang.”

“Haha, that’s why you’re so fast.”

Anyone who moves confidently will stand out.

Moreover, since they were people who lost their jobs once and found them again, they were very attached to their jobs.

“If we assign managers to each department in line with the completion of the Pohang Iron and Steel Works, the working-level organization will be solid. They are also key personnel.”

“Hahaha, after building the factory, I was worried about who to pick and how to roll it, but the owner handled it well. It’s also like the owner.”

The president tapped me on the shoulder.

Like the petrochemical complex and the Pohang Iron and Steel Company, I would have been very proud to see the Korean people leading the work.

If you try to do anything, you will only hear that there is no money, no source technology, no expert, no equipment.

Once you can discuss the blueprints with foreign engineers, you are not technically dependent.

Also, if this happens repeatedly, it is not a dream to surpass foreign countries with the sincerity unique to our nation.

“Oh, by the way, I heard that the Korea Shipbuilding Corporation was also led by hundreds of people?”

“They didn’t invade, they went to protect the shipyard.”

“protect?”

“Yes, after the news that the shipyard went bankrupt, creditors everywhere tried to rip off the equipment, so I went and stopped it. Shouldn’t the government step in and find the right owner?”

“Haha, you mean you didn’t come here with the intention of occupying it?”

Of course, it was for that reason.

I have to go to the shipyard and growl that I’m the owner so the bullies won’t intervene.

“Rather than that, we need to build a ship to load iron ore right now, but I couldn’t wait to see Korea’s only shipyard go down.”

“What, making a boat? Really!”

“It is embarrassing to call it a ship. I’m trying to build a dumb boat that a cargo ship will pull.”

“A dumb belly? what else is that?”

“It is a boat that has no engine and must be pulled by a tugboat. I would say it is more like a rickshaw than a boat.”

“What do you mean the person with the biggest boat in our country drags a rickshaw? How much iron ore are you trying to bring?”

If you look closely, the president doesn’t seem to care much about what others say, but he never misses the point.

He has an excellent ability to figure out what the key is and find the timing.

“Considering 300,000 tons per year for Incheon Steelworks and 3 million tons per year for Pohang Steelworks, we have to carry them. If steel production expands later, I wonder if it will exceed 10 million tons a year.”

“What, 300,000 tons? 3 million tons?”

“It takes 2.5 to 3 tons of iron ore to produce 1 ton of steel.”

I’ll be using low-grade limonite, so I need that much.

To be honest, I didn’t even think of bringing such an enormous amount.

However, after knowing the price of limonite from Australia, you should be patient.

It’s money as you bring it, and even now, if the Suez Canal is closed and an oil shock strikes, you can leave up to $ 250 per ton of steel.

Rather, it will be to the extent that you will have to hide the rate of return externally for too large a profit.

“If that’s the reason, you’ll have to take it all the more. They say they’ll make things with their own hands, but who’s going to stop them?”

“There are many obstacles to acquiring a shipyard.”

I was serious about the stumbling block.

Even if the two of you are obvious, you should definitely calculate what you will give and receive.

“An obstacle? You must be referring to Korea Shipbuilding Corporation’s debt. Wouldn’t the owner also ask for indemnity?”

The debt is 2 billion won.

The capital is 1 billion, but the debt is twice that.

“That’s right. Most of them are debts caused by the corruption of corrupt politicians, and it is unfair for the takeover to take responsibility. We have to make the perpetrators pay for it.”

“It is difficult to squeeze out. If you’re going to take over, can’t you just reduce 50% of the debt? Then there won’t be anyone who opposes it in the National Assembly or anywhere else.”

why not? If the others take over, they’ll forgive most of the debt, so why are they only paying half for me?

In this case, you should make the most death noise.

“Mr. President, I use domestically produced anthracite coal, limestone, and even some iron ore for domestic demand. It is considered sufficient to qualify for acquisition as well as debt relief. Even if the debt is written off, the net asset acquisition amount alone is 1 billion.”

One billion in Korean currency is about 3.7 million dollars.

It seems like a small amount of money because of the large-scale project, but in this day and age, it is really a lot of money.

Put hundreds of millions more in debt on top of that?

How much would it cost if I brought in a little more iron ore to pay off the debt?

The size of the treadmill varies depending on how much money is poured in the beginning.

“Still, 100% debt relief is not possible. I’d love to, but it’s not good for the owner if I do. These days, talk of preferential treatment and bribery is popping up all the time.”

“……”

“It could be done by public bidding, but wouldn’t it take too long for the owner to occupy the shipyard? What to yield, yield!”

A man like a snail.

He interpreted my situation perfectly in his own way.

It was clear that I wanted a shipyard, and I was paying 50% debt relief.

“Then, let’s do this. Please forgive the debt at 60%, and I will pay off the 40% with a surplus, so please give me a loan. I think it will be around 800 million in terms of amount.”

“You’re going to pay back with a surplus? Is that possible?”

No, if I can’t make a profit, why do I take it?

Were you going to leave the losing business to me?

“If you can’t repay the debt, it will naturally lead to capital erosion, so why don’t you make a bid for the sale at the lending bank?”

Honestly, I don’t need to stop even if I have a small shipyard like this.

It’s just that I’m in a hurry right now, so I’ll borrow some of this and use it, and if I save some money from the steel business, I’ll start a proper shipyard.

Of course, you can make money by operating as a repair shipyard, but you can make much more money if you use manpower and time to build ships.

To be honest, by then, no one will be paying attention to such a small shipyard.

“If you make a profit, you should take it right away. good! Talk with the heads of banks and ask them to give you a loan.”

“thank you.”

It is better for banks to watch than for officials to interfere.

“I’ll send Vice Minister Yeom when the negotiations are complete, so go ahead with the takeover process right away.”

“Yes, Mr. President.”

Huh, it seems that Assistant Secretary Yeom has been promoted to Vice Minister.

Cho Ki-young, vice prime minister and head of the Economic Planning Board, was dismissed and many high-ranking officials were said to be relocating.

It seems that the Minister of Commerce and Industry is on the right track, and everyone under him has been promoted to one level?

Everyone will be smiling.

“You’ve worked hard so far, so let’s have a drink.”

“thank you. Take a look.”

The president handed me an envelope and got into the car.

Isn’t it the president’s golden salary that we have only heard about?

it’s thick

This is pretty mind-boggling.

I mean I liked what I did.

“Hey, Chief Seok!!!”

“Yes, Mr. Wu.”

I called Director Seok, who was at the site far away.

“Is that right, Director Seok?”

“Haha, sooner or later you will be called Assistant Secretary.”

“Hey, you must have been unable to sleep last night?”

“It is still a secret. Because it hasn’t been officially issued yet.”

“What are you doing, the groundbreaking ceremony is over, let’s go. To congratulate you on your promotion in advance, the president paid for the dinner and went away.”

“Is that true?”

“Hey everyone, let’s go!”

I gathered all the members of the promotion committee around me and headed to the tavern. Everyone’s faces were in full bloom, probably because the Pohang Iron and Steel Company had passed a critical period.

Now that I have solid experience at Incheon Iron and Steel, I will take one place at Pohang and do my part.

Suffering must be paid a fair price.

***

Yeongdo, Busan, Korea Shipbuilding Corporation

In just a few days, the atmosphere changed quite a bit.

“welcome. president.”

Hundreds of employees greeted me dressed in trendy work clothes.

The shipyard, which had looked dreary just last week, seemed tidy and lively. So good.

Since there was a clear answer from the president, sooner or later this will be my shipyard, so there is no problem doing this.

“You cleaned it up.”

“Yes, didn’t the boss say that cleaning is the basis for safety? Now, with only the blueprints, we can build ships right away.”

Those who were appointed as the heads of each department, called the second golden bell, showed confidence by tapping their chests.

A lot of people joined in saying that I would start a shipyard.

They were trained at the San Diego Shipyard, so it was worth showing such confidence.

Since the technicians had already formed a team, they were in a situation where they could start work at any time, led by these managers.

“Actually, there is no such thing as a blueprint. What we’re going to make is very simple. Everyone knows what a caisson is, right?”

“If you don’t know Caisson in the mainstream, you’re a spy. It is the basic of the basics!”

“It is to make a boat in the form of a caisson. The cargo hold is made in the form of a lattice, making it a solid structure. We will hook it up to a freighter and pull it away.”

“You’re saying you’re making dumb pears.”

“Right. We will turn a 35,000-ton ship into a bulk carrier, connect six bulk carriers to make a 200,000-ton ship, and take it to Australia.”

“Hahaha, you see.”

The 2nd Golden Bells laughed heartily, but the faces of the others turned brown.

“… and… Manager, is that something to laugh at?”

New recruits in particular will understand what I mean, but do you say such crazy things so casually? made a face.

“Hey, boss. Will you give it a go this time? It must be easier than the North American route.”

“At least it won’t break because we’re towing it in a proper boat this time. ha ha ha.”

The chiefs of the 2nd Golden Bell were condescending when they looked down at the crowd.

There are already two legends in the trend.

It is said that he climbed up a waterfall in the Mekong River, where bullets rained down, and that he crossed the Pacific Ocean by weaving a ship torn apart by a storm with chains.

The reason why he worked hard and drew molten iron at Incheon Steelworks is becoming a legend after going through numerous dinner parties, so he is excluded.

They risked their lives to gain a legend, so even I acknowledged this level of condescension.

If the company expands, I think they will be the first to hire executives. Because it proved passion and action.

“President, if the blueprint is to imitate the caisson, then how do we order the materials? The material warehouse here was empty.”

“I’m here to fix that today.”

“Wow, exciting! They say they have materials! Material!”

I was already excited to hear that there was a job right away.

“Where did you install the telex?”

“I will meet you here. president.”

People rushed behind me.

As I passed by, I saw that the shipyard yard was really tidy.

「Dae-Sae Shipyard」

A nice signboard hung in front of the office building.

As if to ask me to write, the signboard blurryly wrote Daese Shipyard, and there were brushes and paints in front of it.

“When did this become a popular shipyard?”

“Isn’t the boss going to order you now?”

The 2nd generation of the Golden Bell held a can of paint and handed me a brush.

“Please write, sir.”

Well, what’s not going to happen?

I scribbled ‘Daeseong Shipyard’ on the signboard.

We need to convince our employees that this is their place to work.

“Waaa!”

“Long live the trending shipyard!”

“ha ha ha!”

Everyone is insane to come in like a gangster and clean up and hang up the sign board.

I knew I was getting into this kind of crazy atmosphere, but I didn’t hate it that much.

I went into the office and went to the telex that was lying in the middle of the day and wrote down the telegram.

「Receipt: Kim Chun-seok, General Manager of Daesae Construction

Send all items from the warehouse in Area B to your home country.

From: Daese, President Woo Chan-soo”

If the surplus warehouse in Quy Nhon is emptied, a 35,000-ton bulk carrier is more than enough to build.

By the time it is made, Incheon Steel will be able to produce thick plates for ships.

“Now, the materials have been ordered, and in the meantime, shall we draw up the blueprint?”

“Wow! Call the design team. Come forward!”

Those who said they had drawn some drawings lined up in front of me with their eyes twinkling.