CH412 | Heir

Assemblyman Jang Myungjun.

I had seen him several times before.

He was, in fact, the beloved son of the late Chairman Jang Youngju of the Hyundai Corporation.

I still remembered having a fairly long exchange with him at the funeral, and thanks to Assemblyman Choi Jaeseok arranging this meeting, we were able to talk now without any awkwardness.

“The fortune-teller said I would meet a benefactor this year—turns out that must be you, Chairman Kim. I’m delighted to meet you like this.”

“The feeling is mutual. I often recall how Chairman Jang spoke so highly of you.”

“Yes, my father and you were on quite good terms. Even before he passed, he never stopped praising you. At times, it felt like he liked you more than his own son—I almost grew jealous.”

For a while, we reminisced about the late Chairman Jang.

Only after several rounds of drinks, savoring those memories, did we finally turn to the main topic.

“When Assemblyman Choi Jaeseok first said he wanted me to meet someone, I was quite taken aback. I couldn’t understand why he would bother with someone like me, who’s about to retire from politics. For a moment, I even worried he might be trying to recruit me into the National Economy Party. But then he brought up the Gunsan shipyard.”

“I was also surprised when he mentioned it to me. He’s been giving a lot of thought to the development of the Honam region and the revival of the Gunsan shipyard.”

I made it sound as though everything had been driven by Assemblyman Choi.

Though the plan was entirely my conception and design, all credit had to go to Assemblyman Choi.

“Well then, let’s hear it properly. How exactly do you intend to revive the Gunsan shipyard? You’re aware, I assume, that the shipbuilding industry is in a slump. Even the shipyards in Ulsan and Geoje are struggling to keep their docks filled.”

“I’m well aware. But that doesn’t mean we can just stand by and let the Gunsan shipyard collapse, can we?”

Until now, Assemblyman Choi Jaeseok had remained quiet, but suddenly he raised his voice.

He was as dignified and assertive as ever—indeed, this was not a situation where he needed to bow his head.

If the Gunsan shipyard were revived, the one who stood to benefit the most was none other than Assemblyman Jang Myungjun.

The Gunsan shipyard belonged to Hyundai Heavy Industries.

And the person holding the largest stake in Hyundai Heavy Industries was Assemblyman Jang Myungjun himself.

That meant if the shipyard came back to life, Jang Myungjun would be the one reaping the greatest profits.

“I’ve tried everything I could to save the Gunsan shipyard. I’ve worked to move the political sphere, I’ve traveled overseas to meet with shipowners and plead for orders. But as you know, the situation is dire.”

“When charter rates don’t just fall by half, but to a mere tenth of their former levels, no shipowner is going to commission new vessels.”

Ships built at a shipyard cost at least tens of billions of won.

In the case of ultra-large bulk carriers, the price could exceed a hundred million dollars.

So when the market turned sour, no one was willing to spend such enormous sums on new ships.

“If charter rates rise again and the market improves, the Gunsan shipyard could, in theory, resume operations. But until then, it has no strength left to endure.”

“If I could buy it some time, what would you say then?”

“Are you saying Taewoo Group intends to invest in the Gunsan shipyard?”

“You could call it an investment, yes. I plan to place an order with the Gunsan shipyard for a 200,000-ton class ultra-large bulk carrier.”

Assemblyman Jang Myungjun swallowed hard.

In a frozen market, a contract worth nearly a hundred million dollars was not an opportunity that came around easily.

Still, being the seasoned politician he was, Jang did not let himself be swayed so easily.

“But Taewoo Group doesn’t operate a shipping company, does it?”

“Taewoo Trading does own a few vessels. Adding several large bulk carriers would hardly be unusual.”

“Did you say several ships—not just one?”

As expected, he was a seasoned player.

Assemblyman Jang Myungjun instantly seized on the slip of the tongue I had deliberately let slip.

“With just one bulk carrier, can you really save the Gunsan shipyard? For work to trickle down not only to the shipyard but also to the surrounding small and mid-sized companies, you’d need at least five vessels, wouldn’t you?”

“To revive the Gunsan region as a whole, yes, that would be the minimum.”

“Of course, I can’t place all five orders for 200,000-ton class ships. The other four will be 100,000-ton class carriers. And would it be acceptable if I also commissioned an LNG carrier?”

“Of course! By all means!”

A 100,000-ton ship cost in the neighborhood of fifty million dollars.

An LNG carrier, on the other hand, could fetch a price tag as high as two hundred million dollars.

That meant if the Gunsan shipyard secured a contract with Taewoo Group, it would instantly lock in orders worth half a billion dollars.

“With about five hundred million dollars’ worth of orders, wouldn’t the Gunsan shipyard at least be able to hold on for now?”

“This wouldn’t just be a ventilator keeping it alive—it would be a prescription strong enough for it to stand back up and walk again.”

“The truth is, I had considered other shipyards for these orders. But Assemblyman Choi insisted that if we truly wanted to see regional development, they had to go to the Gunsan shipyard. That’s why I’m bringing this proposal.”

This entire plan was for Assemblyman Choi and the National Economy Party.

So I deliberately added that footnote. Immediately, Jang Myungjun reached out and clasped Choi Jaeseok’s hand.

“Thank you. Thanks to you, Assemblyman Choi, the Gunsan region has a chance to survive.”

“It’s still not enough. To fully restore the Gunsan area to what it once was, orders of this scale alone won’t suffice. I’ll continue meeting with companies and working to secure more contracts.”

“I’m humbled. Assemblyman Choi, you’re doing the work I should have been doing. If ever there’s a way I can be of help, all you need to do is say the word.”

Assemblyman Jang was fully won over.

How could he not be, when Assemblyman Choi had brought five hundred million dollars’ worth of contracts into a shipbuilding industry mired in recession?

“The National Economy Party intends not only to focus on the Honam region but to work for the economic development of the entire Republic of Korea. It would be enough if Assemblyman Jang simply understood that intention.”

“Of course I understand. But how could I be the only one to know such a profound vision? I’ll make sure everyone sees the sincerity of the National Economy Party. If necessary, I could even leave my current party and join yours. And if that seems too heavy-handed, I’ll at least hold a press conference praising the National Economy Party.”

Assemblyman Jang Myungjun was often said to have passed his prime.

Yet this was a man who had once ranked first among presidential candidates in approval ratings.

He still carried weight, with a firm base of supporters.

And in Gunsan, his relationship with the residents was a complicated mix of affection and resentment.

If someone like him stepped forward to promote the National Economy Party, how powerful would that be?

Being a seasoned politician, he would naturally know how to carry out publicity efforts that would bring maximum benefit to the party.

***

A few days later.

Assemblyman Jang Myungjun held a large-scale press conference in front of the Gunsan Shipyard.

Because rumors of the shipyard’s closure were spreading, the site was crowded with workers wearing headbands, their presence giving the atmosphere a menacing edge.

“Absolutely no to closing Gunsan Shipyard!”
“Hyundai Heavy Industries, don’t abandon Gunsan!”

Even before the press conference began, the protesters’ chants filled the air.

Yet Jang Myungjun strode forward confidently to the podium.

Before addressing the press, he turned toward the crowd of workers, bowed his head, and began with an apology.

[“First, I must apologize. Though I do not hold management control, as the largest shareholder I bear responsibility for the shipyard’s hardship. For that, I am deeply sorry.”]

Ordinarily, corporate executives avoid apologies unless absolutely necessary.

And politicians? Even less so.

But Jang was both—a businessman and a politician. That alone was enough to draw every eye in the crowd.

[“I thought I had done my utmost to save Gunsan Shipyard. But I was wrong. While I searched for years without finding a solution, Assemblyman Choi Jaeseok of the National Economy Party discovered a way to revive this shipyard.”]

The sudden mention of Assemblyman Choi’s name immediately set reporters’ fingers flying across their keyboards.

[“Thanks to his efforts, we have secured shipbuilding orders worth 500 million dollars! The docks of Gunsan Shipyard will roar back to life. And unlike ordinary contracts, this agreement delivers the full 500 million dollars in a lump sum.”]

In shipbuilding, payments were never made in full upfront.

Normally, only 10–20% was paid as a deposit, with the balance arriving two years—or even longer—later.

But Gunsan’s shipyards, choked by a cash crunch, needed money in hand right now.

The announcement that the payment would be made in full drew an explosive cheer from the crowd.

“Wooooaaaah! Jang Myungjun! Jang Myungjun!”

[“I did nothing. It was Assemblyman Choi who personally met with corporate heads and secured the contracts. Once again, I must apologize—for my incompetence.”]

Was this the spirit of a politician who had already decided to retire?

Jang Myungjun shone brighter here than he had during his presidential run.

Every word he spoke seemed to move the protesting workers to their core.

[“As a ruling party assemblyman, perhaps I shouldn’t be saying this… but I’ve truly felt the sincerity with which the National Economy Party has fought for the development of Honam. Standing before Assemblyman Choi Jaeseok and the National Economy Party, I felt utterly small. Therefore, I hereby declare that I will not be running in the next general election.”]

For a lawmaker, their seat is their lifeblood.

That was why declaring non-candidacy in a general election was the greatest card a politician could ever play.

And Jang Myungjun had chosen to play that very card—for Choi Jaeseok and the National Economy Party.

The response was explosive, as expected.

Even Vice Chairman Han and I, watching through the television screen, found ourselves clapping.

It was the moment when I truly felt that the five hundred million dollars we had invested had paid off, and I couldn’t help but admire the seasoned touch of a veteran politician.

“I never imagined Assemblyman Jang would go this far.”

“He seems determined to burn away the very last of his political life in a blaze. Honestly, it’s a better choice than clinging to the ruling party and dragging things out miserably.”

“Assemblyman Jang has thrown his own body on the pyre. We can’t let that fire die out too quickly, can we?”

“We’ve already taken steps to ensure it spreads—through social media and video platforms.”

The media no longer wielded the absolute power they once had.

Yes, they still held overwhelming influence.

But the era when they monopolized information was gone.

Social media and video platforms had taken that role. And those very platforms were under Taewoo Group’s control.

“Fires catch more attention when they break out everywhere at once. Before long, the National Economy Party will announce the Saemangeum Project.”

“The National Economy Party’s support in the Honam region is already surging. Once they announce Saemangeum, the next general election will be within reach.”

The war chest prepared for the Honam offensive was one billion dollars.

Half had already gone into saving Gunsan Shipyard.

The remaining five hundred million was reserved for Saemangeum.

And that wouldn’t be the end of it.

Taewoo Group alone would provide five hundred million, but I planned to draw in other corporations as well.

If things went as intended, over two billion dollars would flow into Saemangeum.

And if we handed all the credit to the National Economy Party, their approval ratings would climb by ten points without breaking a sweat.