CH26 | MCT

Molybdenum Price Surge (2)

Tae-soo’s parents were wide-eyed as they stepped onto the molybdenum mine site.

The place looked completely different from when Tae-soo and Han-soo first arrived.

The mining operation had advanced significantly.

“This is… much bigger than I expected.”

“Didn’t they say this was an abandoned mine from the Japanese occupation? That must have been an exaggeration.”

The site was bustling with miners, working tirelessly.

Not only were the gold miners from before present, but experienced miners—recruited through Choi Il-gu’s connections—were also on site.

Even the miners Han-soo had brought were enthusiastically searching for molybdenum veins.

As a result, the mining progressed at an incredible pace.

“This is amazing.”

Tae-soo’s father turned in every direction, his eyes filled with wonder and a huge smile on his face.

“Tae-soo, is this where they mine that, uh… war metal?”

“Yes, it’s called molybdenum.”

Tae-soo’s mother was just as intrigued.

“What does it look like? Is it all shiny? Like gold or silver?”

“Not quite. It looks very different.”

Just then, the limestone mine owner—or rather, now the mine manager—came rushing over.

“Boss, you’re here!”

The man, who had taken charge of overseeing the mining operation, greeted Tae-soo warmly.

“And these people…?”

“My parents.”

The manager’s face lit up.

“Ah! You must be so proud to have such an incredible son. It’s an honor to meet you. I’m Choi Il-gu, managing the site here.”

Tae-soo’s parents exchanged polite bows.

“Thank you for taking care of our son. We’ll do what we can to help—no task is too small.”

“Yes, I can help in the kitchen if needed.”

Choi Il-gu waved over some miners.

With grunts and effort, the miners pushed forward a cart overflowing with molybdenum ore.

“Here it is—molybdenum. There’s more down there than we expected. It’s been a pleasant surprise.”

“Oh, so this is it…”

Tae-soo’s parents clung to the cart, inspecting the ore with fascination.

They couldn’t tell exactly how it differed from coal, but they knew this was something valuable.

Tae-soo nodded.

“In 2019, the estimated molybdenum reserves at Sangdong Mine were worth about 1.9 trillion won. There's definitely a lot more hidden beneath the surface.”

Still, seeing it with his own eyes made it all the more satisfying.

The miners were extracting molybdenum more efficiently than expected.

Choi Il-gu was also managing things with passion—driven by his dream of one day reclaiming his limestone mine and cement factory.

“It’s a strange feeling, digging for molybdenum instead of limestone. Exciting, even. Hahaha.”

“And I’ve got you juggling both the limestone and molybdenum mines. I feel bad about it.”

“Haha! Lucky for me, they’re right next to each other. Besides, I’m having the time of my life.”

He wasn’t just saying that—Choi Il-gu was genuinely enjoying himself.

It felt just like the early days of running the limestone mine, when every day had been filled with energy and excitement.

Just then—

A worker rushed over, panting, and shouted:

“Boss! Someone’s here to see you!”

A man tipped his fedora slightly, revealing his face.

“Oh—so this is the famous molybdenum mine?”

Tae-soo recognized him instantly.

“He must have heard about the U.S. stopping molybdenum exports.”

Of course—a man of power like him would get news faster than anyone.

It hadn’t even been mentioned in the tiny corners of the newspapers yet.

“That name-drop worked faster than I expected.”

Then again, it was time to move past name-drops.

Now—

It was time to sign a real contract.

At the same time, news of the U.S. halting molybdenum extraction sent shockwaves through global markets.

As a critical rare metal used across industries, the impact was immense.

The number of companies dependent on molybdenum was far greater than many had realized.

Naturally, the world was thrown into chaos.

Germany

"Find a new supplier—now! If we don’t, our factories will shut down! Molybdenum extraction halted? What kind of disaster is this?!"

Japan

"How did we let it come to this?! Why is our intel so slow?! We need to secure every last bit of molybdenum—immediately!"

Other countries reacted no differently.

The news had hit far too suddenly.

Even the United States was scrambling.

"Exports are one thing, but we still have to meet domestic demand! Our stockpile is far too low!"

With only 13% of the usual global supply available, corporations across the world raced to secure whatever they could.

The Global Molybdenum Crisis

Molybdenum deposits were heavily concentrated in just a handful of countries:

• The United States

• The Soviet Union

• China

• Australia

• Canada

However, with the U.S. controlling 87% of the global supply, the remaining nations had neglected full-scale development.

Now, even those countries were in a state of emergency.

The Soviet Union

"What? The U.S.?! This will cripple our military production! We need to find molybdenum—immediately!"

"We do produce some, but our supply is nowhere near enough to meet demand."

"We have an entire continent! You’re telling me we can’t find more molybdenum mines? Search everywhere!"

"There have been reports of deposits in the Kutesai Mine."

The Kutesai Mine was located in the southern mountainous regions of Central Asia, within Kyrgyzstan (then known as Kirghizia under Soviet rule).

It was technically part of the Soviet Union, but Moscow’s influence in the region was weak.

Not that it mattered.

"Then send a team—start mining immediately!"

"That’s the problem, sir. The mine was abandoned due to low profitability. Even if we start now, development will take time."

BANG!

A fist slammed onto the table.

"Restart development at Kutesai! And in the meantime, secure molybdenum from China, Australia, Canada—anywhere!"

The race was on.

The world was in chaos.

***

Tae-soo’s office was truly shabby.

One might have expected him to set up his office near the limestone mine and cement factory in the neighboring town, but instead, Tae-soo had settled in one of the log cabins in front of the molybdenum mine.

It was a clear declaration of his intent to focus on molybdenum for the time being.

Park Tae-jong perched on a roughly made wooden chair—no, more like a stool.

The desk and stool seemed to have been hastily put together by a carpenter using leftover wood.

Tae-soo tilted a kettle and poured a cup of tea for Park Tae-jong.

“Hm? The aroma is quite peculiar.”

“I just threw in a mix of different ingredients and boiled them.”

“What on earth did you mix to create such a strange taste?”

“My mother made it for me, thinking of my health. I’m not sure what exactly she put in it.”

“This must be some kind of herbal tonic.”

Park Tae-jong chuckled and drank it down in one gulp.

Thud.

Setting down the cup, Park Tae-jong got straight to the point.

“You must already know why I’m here. Supply molybdenum to Pohang Steel.”

“Sure.”

Tae-soo agreed without hesitation.

For a moment, it was Park Tae-jong who blinked in surprise.

The answer had come much faster than expected.

Moments later, Park Tae-jong burst into hearty laughter.

“Hahaha! I didn’t expect such a quick and straightforward answer!”

“It’s nothing significant.”

I intended to sell it to you from the beginning.

Otherwise, why would I have bothered coming all the way down to Pohang?

“The roles have reversed compared to two weeks ago. I expected you to make me pay dearly for that wasted trip.”

“If you’re willing to pay the price, I’ll gladly accept it.”

After all, one should never turn down a good deal.

Once again, Park Tae-jong laughed heartily.

‘What a bold and confident young man. No one his age could match him. He already exudes the aura of a great figure.’

Park Tae-jong had a son around Tae-soo’s age.

Even compared to Cheol-wan, whom everyone praised as an outstanding talent, Tae-soo was far superior.

‘This young man has been favorable toward me from the start. My intuition tells me this is real. But why? It feels as reassuring as if we had forged an ironclad military alliance.’

With a satisfied expression, Park Tae-jong looked at Tae-soo.

“How would you like me to pay the price?”

"I would like a guarantee of mining rights for molybdenum. Just for ten years."

What was this now?

Park Tae-jong was bewildered.

"Isn't this your mine? Are you saying you don’t have a mining rights certificate or—"

"It's not that."

"Then why are you making such a request?"

"Because I don’t have the power to protect the mine."

Park Tae-jong couldn’t quite understand.

Naturally so.

Right now, he was a man of power, lacking nothing.

But Tae-soo was different.

"Soon, people will show up, claiming molybdenum is a strategic national resource—when in reality, they’re just looking to make a fortune from it. All they need to do is eliminate me, and that’s that."

"Hmm."

Hadn’t they done the same to Oh Chun-sik, removing him to seize the molybdenum mine for themselves?

Park Tae-jong sank into deep thought.

It was a reasonable argument.

‘Molybdenum supply must have plummeted worldwide. It’s only natural that seeing a fully operational molybdenum mine would make people want to snatch it up.’

But why put a ten-year limit on it?

His question was soon answered.

"In ten years, I will donate it to the state."

"What?"

Park Tae-jong shot up from his seat.

He couldn’t believe what he had just heard.

To willingly hand over a molybdenum mine—one that could produce endless wealth—to the government?

"In return, I ask that you protect me and the mine for the next ten years."

"Hmm."

"I trust that you’ll be able to persuade the guarantor."

The guarantor—was he referring to the person subtly mentioned when drafting the promissory note?

Park Tae-jong looked at Tae-soo with newfound curiosity.

Tae-soo had already done the calculations in his head.

‘Give it up before they take it. Instead, make the most of it for the next ten years. Sell every last bit while I can.’

In his past life, Oh Chun-sik had lost the molybdenum mine, which was then absorbed by Daewoon Tungsten, a state-owned enterprise.

The official justification had been that molybdenum was a strategic national resource. But in reality, someone in power had been eyeing it for a long time.

It was a crucial rare metal needed for the state-led expansion of heavy industries.

Tae-soo had merely taken care of the matter using the power of the Cheongil Group.

‘Losing the mine is almost inevitable. With molybdenum prices skyrocketing, it must have caught Park Jung-hwan’s attention—just like Oh Chun-sik’s, and now mine. There’s no avoiding it.’

But that didn’t mean he should stop making a fortune out of fear!

At least Oh Chun-sik had the temporary protection of a wealthy family after marrying off his daughter to a conglomerate heir.

Tae-soo, however, had no such powerful backer to shield him.

That’s why he chose Park Tae-jong.

"Developing the molybdenum mine has required a considerable amount of funding."

In reality, it had cost little more than a miner’s daily wage.

No, wait. He had spent 100,000 won just to acquire the mining rights certificate. That was something.

"Once I recover my investment and make a reasonable profit, I’ll willingly hand the mine over to the state."

Not just a reasonable profit—he planned to squeeze every last bit out of it.

Tae-soo’s words stirred something in Park Tae-jong’s heart.

How admirable this young man was, willingly offering his own property for the good of the nation.

Park Tae-jong nodded firmly.

"Good. Very good. I understand that developing a mine and setting up the necessary facilities requires substantial funds. Naturally, you should be able to recoup your investment first—otherwise, it would be unfair. No one can demand you sacrifice even that."

After a brief moment of contemplation, Park Tae-jong turned to Tae-soo.

"Let me make a call."

He picked up the telephone.

"Your Excellency, this is Park Tae-jong speaking."

Wow. He didn’t waste a second before dialing a direct line to the president.

"Your Excellency, there is someone willing to voluntarily hand over a mine for the sake of the nation. It was an abandoned mine from the Japanese occupation era, and he has successfully redeveloped it."

Park Tae-jong glanced at Tae-soo.

"Would it be possible to grant him just ten years of grace, considering the capital he has invested in developing the mine?"

Still holding the receiver, Park Tae-jong bowed at a full 90 degrees.

"Thank you, Your Excellency."

Park Tae-jong set down the receiver.

"His Excellency has approved it. Now, let's draft the contract."

"Thank you."

The molybdenum supply contract was written up in no time.

After completing the paperwork, Park Tae-jong grabbed his fedora and stepped out of the office.

As he saw him off, Tae-soo smirked.

"Won’t His Excellency scold you later?"

"He’s not the kind of man to go back on his word. A promise is a promise."

"He might have quite the headache when he realizes it’s a molybdenum mine."

Park Tae-jong grinned.

"Well, that’s what happens when you don’t ask what kind of mine it is. He’ll have to live with it."

Oh wow. This man—he’s quite the master of playing dumb.

He had deliberately mentioned only that it was an abandoned mine from the Japanese occupation era.

I really like this guy. Heh.

"As promised, I’ll send some men to protect the mine."

"Thank you."

Just then, an employee came rushing toward Tae-soo.

He hesitated, sneaking glances at Park Tae-jong, then cautiously asked,

"Cheongil Group wants to sign a molybdenum supply contract with us..."

Tae-soo answered without hesitation.

"Not selling!"