CH98 | MCT

Taeyang Group (1)

Han Cheong-ho was anxious.

He had tried every possible way to silence Oh Young-soon.

Finally, they reached an agreement:

• In front of His Excellency, report that “there was no problem with the safe.”

• Han Cheong-ho would replenish the new secret safe.

• Return the photos and films to Oh Young-soon.

• Both must take all this to their graves and never reveal a word.

Oh Young-soon was very satisfied.

All she had to do was say, “There was no problem with the safe,” in front of her husband.

Then the threats that had tormented her for so long would end.

Meanwhile, Han Cheong-ho was furious.

“Kang Tae-soo! That son of a bitch again!”

He had to put up his own money to fill the secret safe.

The list of pro-Japanese collaborators and the property records were no problem.

He had contributed those with his own hands, so he could just copy them back in.

The real issue was the money.

“Because of this, Oh Young-soon is going to spill everything she extorted from me!”

That was why Han Cheong-ho was so angry.

He had been milking a naive and wealthy victim for a long time.

But now, the victim was about to run away, and the honey he had been sucking was about to be spat out.

How furious could he be?

“All right, Kang Tae-soo. If I can’t see you fall, I’m not Han Cheong-ho!”

Fortunately, the safe issue would be resolved smoothly.

His strained relationship with Park Jeong-hwan would improve because of this, and Park Jeong-hwan’s worries would be eased.

“Let me show you what happens when a businessman’s cash flow dries up.”

Han Cheong-ho’s eyes gleamed menacingly.

He planned to have the banks all block loans and force extensions on deadlines.

“I should pay my respects to His Excellency.”

The apple box was meant for times like these.

* * *

The item that Secretary Song carried was connected to what Khalid, the Saudi Minister of Defense, had mentioned.

<The 1970 Korea-Japan Agreement Plan on the Seventh Offshore Gas Field>

The Seventh Offshore Gas Field refers to a resource exploration zone set in the Jeju Basin.

It is believed that this zone contains large, economically viable reserves of oil and natural gas.

“On January 30, 1974, South Korea and Japan signed the <Korea-Japan Continental Shelf Agreement> to jointly develop this area.”

The agreement took effect in 1978, with a validity period of 50 years.

However, even by 2020, joint exploration and development had not proceeded.

Due to Japan’s unilateral refusal to cooperate, the area remained neglected.

“I heard the estimated resource volume buried there is enormous.”

If Saudi Arabia’s proven oil reserves stand at around 270 billion barrels, the maximum estimated reserves of the Seventh Field reach about 100 billion barrels.

For comparison, Russia has about 80 billion barrels, and the U.S. about 30 billion barrels.

In fact, China operates dozens of oil drilling platforms near the Seventh Field and actively extracts resources.

“Park Jeong-hwan was scheming behind the scenes all this time.”

Jang Mal-dong’s eyes remained fixed on the list of pro-Japanese collaborators’ properties.

“These bastards, now it’s your turn to be robbed unjustly! I want to see the tears of blood in your eyes too!”

Feel what it was like when you exploited the innocent people’s assets during the Japanese occupation!

That was why Jang Mal-dong gritted his teeth.

“Whatever else, I’ll roll up my sleeves and help with this!”

“I’m counting on you, sir.”

He felt reassured.

“This might be the chance to make a hefty sum.”

It looked like his pockets would soon be quite full.

“Park Jeong-hwan has been blocking bank loans, so funds for business acquisitions were tight—but this works out perfectly.”

Han-soo’s U.S. investment company had funds from selling 100 million barrels of oil at a high price.

On top of that, the money received from Saudi road construction projects was quite substantial.

There was also decent income coming from the molybdenum mine, cement factory, and limestone quarry.

“Who would have thought I’d use the money stolen from Park Jeong-hwan’s safe as capital to acquire companies.”

Tae-soo declared confidently,
“Now it’s time to start the corporate hunt and launch the Taeyang Group.”

They would sweep up plenty of valuable companies left behind after the oil shock.

“Good. I’ll help you with that too. I’ve carefully selected the prime companies.”

“I’m counting on you, sir.”

“By the way, when are you heading back to Saudi?”

“For now, I have to stay in Korea and hold my ground.”

Hold his ground?

What did that mean?

“Why?”

“There are three reasons why I must stay in Korea.”

Tae-soo said,
“First, I’m planning to acquire those prime companies and become a proper conglomerate. It’s time to lay a solid foundation.”

“Second, if I leave Korea, Han Cheong-ho will start hunting to destroy my businesses. It’s up to me to block and withstand him.”

He would surely stir up the banks.

Park Jeong-hwan had already ordered bank presidents to ban loans to Taeyang.

“Third, I want to keep myself as bait. Literally, a decoy.”

“Bait?”

“If I’m holding ground in Korea, no one will suspect what’s going on behind the scenes.”

How could anyone know that while I’m standing firm in Korea, I’m preparing moves overseas?

“While I’m the bait drawing attention, others will prepare a counterattack.”

There’s work to be done with the money from Park Jeong-hwan’s secret safe.

Fortunately, there’s a suitable candidate for the job.

“In half a year, the showdown will come.”

“I’ll turn the tide all at once.”

Sometimes to leap far, you have to crouch down for a moment.

Why does time drag so slowly while waiting?

Tae-soo reads the newspaper every morning.

April 25, 1974.

In Portugal, a leftist military coup ended nearly 40 years of dictatorship.

After their success, the coup leaders immediately handed power over to civilians, earning the name “Carnation Revolution.”

“Our country is the exact opposite. Here, the coup leaders changed the constitution and have ruled as dictators for over ten years.”

Tae-soo folded the newspaper.

The economic instability triggered by the oil shock was spreading deeper into society.

May 18, 1974.

India successfully tested a nuclear bomb, becoming the world’s sixth nuclear power.

Actually deploying those weapons would take time, but the significance was in being recognized as a nuclear power.

“Right now, Park Jeong-hwan is desperately conducting secret nuclear tests. But our country won’t be a nuclear power even by the 21st century.”

By the 21st century, North Korea would be scrambling to be recognized as a nuclear power.

Despite international condemnation, fears, and isolation, they pursued this path.

June 13, 1974.

The West Germany World Cup opened.

“They probably won’t even get a single win. Will Park Jeong-hwan get angry at the national football team? Or will the blame fall on Han Cheong-ho, who talked big?”

August 5, 1974.

In the U.S., the decisive Watergate scandal tape was released.

Just a few days later, on August 9,

President Richard Nixon resigned amidst impeachment threats over the growing Watergate scandal.

He remains the only U.S. president ever to resign while in office.

“I can rest easy knowing the people left in Saudi are handling things well.”

These days, Tae-soo was busier than ever.

Managing the companies he had acquired left him no time to rest.

Although he had visited Saudi a few times, he had mostly stayed in Seoul for months now, busy with work.

“It’s hot.”

August’s heat was like a steam oven, yet the fan’s breeze was weak.

Tae-soo collapsed onto his bed, looking exhausted.

“We need an air conditioner. Han-soo, let’s buy an air conditioner.”

“Are you crazy? Those things cost a fortune and the electricity bill’s insane, too.”

“What’s the point of making money if you don’t spend it? Let’s use it for something like this.”

“You spent it all buying companies. We don’t have money.”

“How about the electric and electronics company we just bought makes some air conditioners and sells them?”

Han-soo, flipping through papers on the desk, glanced at his brother.

“Hyung, you look exhausted. Take a break today. If you’re dreaming about air conditioners, you’d better just sleep.”

“How can I? Now is the time to push forward.”

Tae-soo had to check the status of the companies they had initially acquired, change the atmosphere, and place talented people in the right positions.

Doing all of that was wearing him out.

“No, it’s time you take a break. If you keep this up, you’ll die of overwork.”

“This is nothing.”

He was still young, in his twenties, with a strong body.

Besides, he had worked even harder back when he was with the Cheongil Group.

But Han-soo, who didn’t know that, was worried about his brother.

“Hyung, you’re pushing yourself too hard—mentally, physically, and work-wise. Look at your face. Those dark circles go all the way down to your jaw.”

Han-soo stepped closer to Tae-soo.

Tae-soo shut his mouth tight at his brother’s worried eyes.

Lately, he was running so hard that even two bodies wouldn’t be enough—he was cutting back on rest and even sleep.

“Hyung, even before this round of acquisitions, Taeyang already owns six companies.”

There were three companies Tae-soo had founded: Taeyang Mines, Taeyang Construction, and Taeyang Trading.

Two companies acquired via mining purchases: Taeyang Monazite and Taeyang Cement.

And Samwon Construction, a gift from Park Jeong-hwan.

“And two companies taken from Cheongil Group.”

Cheongil Oil Refinery and Cheongil Heavy Equipment.

“And the seven companies you just bought this time.”

Orion Electronics, Western Electric, Seongbo Lumber, Gukdong Chemicals, Sangwoo Window, Jowung Securities, and Yuseong Insurance.

Jang Maldong and Han-soo helped shortlist them, and Tae-soo picked the promising ones by sniffing out the money.

“Plus the American investment company I created. Do you know how many companies you have now?”

“Sixteen. Do you think I can’t add?”

“Sixteen in total. And you’ve only been in business for two years. Got it?”

Hearing that, Tae-soo couldn’t help but feel energized.

He had been running non-stop, and now the number of companies under him had already grown to sixteen.

It was about time to set up a planning and coordination office and step forward as a proper conglomerate.

“We really benefited from the oil shock. Grew bigger more easily than I thought. We’re finally stepping into the ranks of the chaebols.”

A smile appeared on Tae-soo’s face.

“We’ll launch as Taeyang Group.”

At last, it was time to start.

Tae-soo finally rose up from the long crouch he had been in.

“Han-soo, we need to notify the well-known figures in politics and finance, and also the newspapers and broadcasting stations.”

It wasn’t going to be a huge event.

But they had to announce the launch of the conglomerate somehow.

“We’ll hold the launching ceremony at the Taeyang Heavy Equipment front yard, August 13th at 10 a.m.”

“Got it.”

“The invitations are ready from the printing shop. It’s nothing major. Just make some calls around.”

“Is that okay?”

“No problem. Those who want to come will come, those who don’t won’t.”

Tae-soo stretched lazily, then looked back at Han-soo.

“I should visit Elder Jang Maldong to prepare for the ceremony.”

Han-soo didn’t understand why they had to visit Jang Maldong for ceremony preparations.

But now he did.

“Come with me. I’m curious what it’s about.”

His brother was never one to go on pointless trips.

There had to be an important reason.

“I need to prepare something for a full-scale counterattack.”

Han-soo didn’t know what it was, but he was curious.

“I’m thinking of making a proposal Elder Jang will be very pleased to hear.”

It had been a while.

It was time to negotiate with Elder Jang Maldong over money.

Time to present a new proposal and seek a breakthrough.