CH78 | MCT

Negotiating with the President (2)

President’s Office, Chomyung Bank, Jongno

Choi Moo-ryong frowned at Han Cheong-ho’s visit.

“What brings you all the way here?”

“Cheongil Refinery is in trouble. I need your help.”

“I can barely keep my own head above water. I’m afraid that’s impossible.”

Han Cheong-ho hid his displeasure.

Right now, he was the one in need.

He needed Choi Moo-ryong’s money.

“I’m asking you.”

“You’re well aware of the situation at Chomyung Bank, aren’t you?”

“You mean the losses from buying up European oil company stocks?”

Losses funded by selling off Cheongil Refinery shares.

When Han Cheong-ho first heard the news from Secretary Park, he had furiously thrown an ashtray.

But now, he showed no trace of that anger in front of Choi Moo-ryong.

“Since you already know, let’s keep this short. I have no money.”

“I know you’ve stashed away quite a bit. Hand over some more Cheongil Refinery shares—lend them to me.”

“Hah!”

Choi Moo-ryong scoffed.

He glared at Han Cheong-ho, his lips twitching.

“Why didn’t you lend a hand when Samwon Construction was in crisis?”

“What?”

“I have ears, you know. I heard you dismissed them outright, saying Samwon and Cheongil had nothing to do with each other.”

Han Cheong-ho raised an eyebrow.

“And what about the mess those Samwon Construction thugs made when they abandoned the site? I had to clean that up—why don’t you talk about that?”

“The Saudi royal family lodged a complaint? The construction site turned into a battlefield—what was I supposed to do?”

“Why are you blaming me for your failure to control your subordinates? If you had such a problem, you should have flown to Saudi Arabia yourself!”

“If Cheongil Construction had helped, things wouldn’t have spiraled out of control.”

Choi Moo-ryong gritted his teeth.

“Park Jung-hwan dismantled Samwon Construction. My men were all dragged off by the Central Intelligence Agency. The ones who were like brothers now want to rip each other’s throats out.”

He resented it.

He regretted letting Han Cheong-ho talk him into bidding for the Saudi construction project.

“Those men are rotting in prison now. They were stripped of everything, and I nearly got arrested too. And now you come asking me for help?”

“Who told you to pull dirty tricks all the way in Saudi? You expect me to take the blame because Park Jung-hwan lost his temper over it?”

Choi Moo-ryong squeezed out the last of his patience.

“These men risked their lives laundering slush funds and raising political money. Get them out.”

“I can’t. Not right now.”

“Are you serious?”

“Cheongil Refinery is on the verge of collapse!”

Choi Moo-ryong turned his back.

“Escort the guest out.”

“Hey, Choi Moo-ryong! You’re really going to do this?”

“We can continue this conversation once you’ve gotten my men out.”

Choi Moo-ryong’s men stepped toward Han Cheong-ho.

Han Cheong-ho glared fiercely at him before turning away.

“Think carefully. Do you really think Chomyung Bank can survive without my support?”

“Safe travels.”

“If Cheongil Refinery collapses, you won’t get away unscathed either.”

Bang!

Han Cheong-ho slammed the president’s office door shut.

***

Riyadh, Saudi Arabia – Khalid’s Estate

In the estate’s reception room, Khalid was meeting with Tae-soo.

[I have much to thank you for.]

Khalid wore a broad smile.

Thanks to Tae-soo, he had defeated his rivals and secured power.

[Not only did you successfully complete the road construction project, but you also played a key role in building a supply base and securing military logistics. Rahman will soon be assigned as the development director for the eastern cities.]

[That’s great news.]

[It means he’ll be overseeing the Jubail Industrial Port project.]

And that wasn’t all.

[My younger brother, Abdullah, has been reassigned from Commander of the Defense Forces to Minister of Industry.]

[Congratulations.]

[It means we’ll have even greater influence over the Jubail Industrial Port construction.]

Khalid had been steadily keeping his promises to Tae-soo.

[I’ve cut off Cheongil Refinery’s oil supply.]

[I heard they’re desperately running around different Middle Eastern countries looking for alternatives.]

[I’ve secured commitments from a total of seven countries, including Saudi Arabia. I’ve also reached out to other small and mid-sized OPEC oil-producing nations. Few will dare defy my wishes.]

Han Cheong-ho must be sweating bullets.

Very good news.

[You recently secured 60 million barrels of oil, correct?]

[Yes, that’s right.]

[With His Majesty’s special permission, I’ll fill in the remaining gap for you.]

Khalid raised a single finger.

[100 million barrels.]

An astronomical amount.

And over the past three months, oil prices had quadrupled.

[I sincerely appreciate it.]

Tae-soo carefully broached the topic.

[I intend to completely bankrupt Han Cheong-ho’s Cheongil Refinery.]

[Hahaha! Now, that’s a plan I can get behind!]

Was Khalid not burning with hatred for Han Cheong-ho?

He welcomed Tae-soo’s plan with joy.

[Once Cheongil Refinery collapses, I plan to establish Taeyang Refinery.]

[Ah, so you plan to snatch up Cheongil at a bargain price?]

[Exactly. That’s why I need your help, Khalid.]

[And how can I assist?]

Tae-soo explained.

[I plan to return to Korea briefly. I need to meet with President Park Jung-hwan.]

Khalid immediately understood.

[You want to bring him a gift he can’t refuse.]

[Precisely. Even if I have to sacrifice some of my oil, there’s something I want in return.]

[And what would that be?]

[Oil supply rights certificates.]

Seven Middle Eastern oil-producing nations, including Saudi Arabia, had declared an oil embargo against Western powers aiding Israel.

South Korea, aligned with the U.S., was naturally affected.

Bringing in oil had become incredibly difficult.

[Oil supply rights certificates? What exactly do you mean?]

[Grant these certificates to select companies, allowing them to bypass the export restrictions—at least in Saudi Arabia.]

Thanks to the oil embargo, domestic crude oil prices had already tripled.

President Park Jung-hwan’s ambitious plan to foster the heavy and chemical industries was on the brink of failure.

To make matters worse, the inflation rate, which stood at 3.2% in 1973, skyrocketed to 25% annually in 1974 and 1975.

South Korea was desperate to secure oil.

[Is that really necessary?]

Tae-soo could make an enormous fortune with the 100 million barrels of oil he possessed.

Even if he had to give up some of that money, was securing the rights certificates truly worth it?

Khalid was curious about Tae-soo’s intentions.

[President Park Jung-hwan and Han Cheong-ho have a tight-knit connection. I want to shake things up between them.]

Khalid understood immediately.

[So, you’re saying Park Jung-hwan will step in to rescue the dying Cheongil Refinery?]

[He needs to abandon Cheongil Refinery. But for that to happen, he needs a reason to change his mind.]

If that was the case, there was no reason not to comply.

[Fine. I’ll grant the rights certificates. Whoever brings them will receive oil.]

But there were conditions.

[The period is limited to six months. Only five companies will be permitted. And if any of the imported oil is resold elsewhere, I will immediately cut off the supply.]

[Thank you.]

That was more than enough.

Even for Khalid, this was the best deal he could negotiate with the king.

‘I wonder what will happen when I bring this to Korea.’

Tae-soo smiled with confidence.

He bowed slightly to Khalid.

[There’s one more favor I’d like to ask.]

[What is it?]

[I’d like you to write a letter to President Park Jung-hwan.]

[A letter?]

[Saudi Arabia has diplomatic relations exclusively with South Korea. President Park wants to strengthen ties with your country.]

[And?]

[How about sending him a small gift? This should be enough.]

Tae-soo pulled out a torn sheet of paper from his inner pocket.

It was a document written in Korean.

[What is this?]

[Something we got from Han Cheong-ho’s secretary the last time we captured him.]

Khalid burst into laughter.

[What happens if this reaches Park Jung-hwan’s hands?]

[Han Cheong-ho will be terrified.]

[Why only this one sheet? Where’s the rest?]

[Unfortunately, this is all we have.]

That was a lie.

He had more.

But revealing everything at once would do more harm than good.

‘Fear is most effective when the other side doesn’t know the full extent of the danger.’

President Park would be forced to think carefully.

How serious was the situation?

How could he contain the damage?

‘For now, it’s enough to shake Park Jung-hwan.’

His goal was to drive a wedge between Han Cheong-ho and Park Jung-hwan.

Political-business collusion is troublesome enough on its own.

[Park Jung-hwan is sharp and ruthless. That document alone will be enough for you to achieve your goal.]

His keen nature would lead to suspicion.

His ruthlessness would drive him to action.

Khalid nodded in agreement.

[Han Cheong-ho is going to fall out of favor with Park Jung-hwan over this.]

[Would you be willing to help?]

[Of course. I’d gladly write two letters if needed.]

Khalid gave his approval.

[While I’m at it, I’ll also draft an official document for the rights certificates. I’ll have it sealed with the Saudi royal insignia. Just wait a moment.]

With his robes billowing behind him, Khalid exited the reception hall.

His back was reassuringly strong.

‘Now, it’s time to return to Korea.’

Time to meet President Park Jung-hwan.

***

Han Cheong-ho arrived at the Blue House.

Carrying two boxes of apples.

Chief Presidential Secretary Kim Jeong-rim looked troubled.

“His Excellency is extremely busy right now.”

“I’ll wait.”

“It’s the end of the year, and there’s too much work. Please go back for today.”

“I’ll wait. Even if I have to stay here until dawn, as long as His Excellency agrees to meet me.”

Han Cheong-ho refused to budge.

Instead, he discreetly pulled out a thick envelope from his coat and handed it to Kim Jeong-rim.

Kim shook his head.

“I can’t accept this. Do you think I haven’t already spoken to His Excellency?”

That meant Park Jung-hwan had already made it clear he wouldn’t meet him.

“Please, I beg you. I’m not asking for anything else. Just let me see His Excellency for a moment. I’ll handle the persuasion myself—discreetly, without any trouble.”

Han Cheong-ho forcibly pressed the envelope into Kim’s hand.

A brief silence.

Kim Jeong-rim finally whispered.

“He’s in his office right now. I wasn’t here. I didn’t see anything. I’m too busy.”

“Thank you.”

Kim hurried down the hallway.

If Park Jung-hwan found out, there would be hell to pay, so Kim quickened his pace.

Han Cheong-ho grabbed the boxes of apples and rushed to the office.

Knock, knock.

“Come in.”

As the door opened, Park Jung-hwan’s face darkened.

“What is this? Who let you in?”

“Your Excellency, please help me.”

Han Cheong-ho bowed deeply, a full 90 degrees.

Seated at his desk, Park Jung-hwan silently looked down at him.

“Please save Cheongil Refinery.”

A long silence stretched for over ten minutes.

Ding—

The grandfather clock in the office chimed.

At last, Park Jung-hwan spoke.

“What’s wrong with Cheongil Refinery?”

“Your Excellency, you already know. The oil-producing nations in the Middle East have restricted exports, and now we’re stuck. We just need to overcome this crisis.”

“Do you think you’re the only one struggling?”

Everyone else was finding ways to secure oil, even at exorbitant prices.

But Cheongil Refinery alone had failed.

What was he supposed to make of that?

“It’s just a misunderstanding with the Saudi royal family. I will resolve everything. So please, Your Excellency, help me until then.”

Park Jung-hwan scoffed.

“When the Saudi royal family sent a protest letter over the Samwon Construction project, what did you do?”

He pretended not to know.

Like tossing away a ticking time bomb, he pushed government officials forward, using Cheongil as a shield.

And in the end, Park Jung-hwan was the one left to deal with the mess.

Park Jung-hwan pointed it out.

“You reap what you sow. Clean up your own mess.”

“Your Excellency, that was my mistake. But you can’t lump Samwon Construction and Cheongil Refinery together.”

In reality, Han Cheong-ho had nothing to do with Samwon Construction.

And Park Jung-hwan knew it too.

That’s why he had turned a blind eye when he accepted the apple boxes.

“Handle your own affairs.”

Park Jung-hwan turned his eyes back to the documents on his desk.

Han Cheong-ho hurried closer.

“Misunderstandings can be cleared up. But are you really going to let your heavy industry policy go to waste like this?”