"Yes, I have two requests."
"Speak. I will grant them."
The president replied cheerfully.
"First, I would like to explore the seas off Ulsan. We need permission."
"Exploration? Are you suggesting there might be oil off Ulsan?"
"Not oil, but experts believe there might be a gas field. Since we're bringing in heavy equipment for the port construction, it wouldn't hurt to try."
Although the equipment for port construction and exploration are entirely different, the president wouldn't bother with such details.
"What is a gas field? Does it make money too?"
"Yes, it does. Even if it's small, any gas found would be a great help given the nearby petrochemical complex."
"Big or small, if it can be found, dig as many holes as you like. What is the other request?"
"We need talent for the integrated steel mill. The Daehan..."
"Of course. No matter how capable Woo Sajang is, he can't do it alone. I've already formed a committee of bright minds for the integrated steel mill project. You can take over it. No need to thank me."
"Thank you, Mr. President."
I had intended to recruit Park Tae-jin, president of Daehan Tungsten, but the president brought up the committee first.
If there was already a committee, recruiting President Park could be postponed. It was a relief, as I felt burdened by his close ties to the president.
Nevertheless, with committees forming everywhere, it seemed there was plenty of manpower, just not enough money.
It was truly characteristic of Korea Integrated Corporation.
"Remember, if the integrated steel mill fails, I'll take back Incheon Steel from you, even if I have to change the law. Understood?"
"Yes, I understand."
To safely take over Incheon Steel, which would be completely transformed under my hands, I had to ensure the success of the integrated steel mill.
***
A few days later, at Cheongungak in Jongno, Seoul.
"Ah, Mr. Kim. Welcome."
"Haha, Mr. Yatsui. It's been a while."
Japanese Congressman Yatsui and Kim Jung-pil greeted each other warmly.
South Korea and Japan often conducted behind-the-scenes negotiations in such high-end establishments instead of official diplomatic routes.
Congressman Kim Jung-pil and Yatsui were heavyweight political brokers representing Korea and Japan.
"Oh my, and who are these? Vice Prime Minister Jo Ki-young and President Do Byung-chul are here too."
"I heard Minister Ujiyama of the Economic Planning Agency is attending. How could I miss such an important meeting?"
"I came upon hearing that Nishijima from Mitsui would attend. Hahaha."
"Please, come inside. Everyone is waiting."
It was a day when all the behind-the-scenes networks between Korea and Japan gathered.
Representing Korea were Congressman Kim Jung-pil, Vice Prime Minister and Minister of Economic Planning Jo Ki-young, and Do Byung-chul, president of Suseong.
Japan was represented by Congressman Yatsui, Minister of the Economic Planning Agency Ujiyama, and Nishijima, head of the Far East branch of Mitsui Trading Company. These individuals had worked together on numerous occasions.
Although Yatsui and his party claimed to be preparing for the upcoming 'Korea-Japan Economic Ministers' Meeting,' they were actually there because they had caught wind of the developments at Incheon Steel.
The Japanese steel industry had determined that it was time to enter the Korean market.
"You must be tired from your journey. Have a glass of whiskey first."
"This has a good aroma."
"It's Ballantine's 17-year-old, which Congressman Kim likes. Courtesy of Mitsui."
"Enjoy it without worry. It's not smuggled. Haha."
Nishijima from Mitsui openly mentioned smuggling. It was a specialty of those gathered here.
The six behind-the-scenes influencers from Korea and Japan passed drinks back and forth. It tasted a hundred or a thousand times better than the makgeolli served at the Blue House.
"I heard there's bad news in the Korean steel industry."
"Ah, you mean Incheon Steel. The Germans caused some trouble..."
"Sigh, that's why I've always said it's wise to build a steel mill with Japan."
"Who doesn't know that? The opposition parties demand so many conditions for the Korea-Japan agreement despite having no money. We should just blow up Dokdo... tsk tsk."
Kim Jung-pil knew how to say things that the Japanese liked to hear at the right time.
"The Economic Planning Agency shares the same view. Honestly, both Korea and Japan are ready to use the claims fund for the integrated steel mill, aren't we? I don't know why we keep stalling."
Vice Prime Minister and Minister of Economic Planning Jo Ki-young stared at Minister Ujiyama, pressing him.
"If the Korean political circles untie the knot, we can persuade the cabinet and send businessmen to Korea. Honestly, there are countless companies like Yahata Steel, Fuji Steel, and Japan Pipe willing to help Korea."
Minister Ujiyama sipped his drink repeatedly, as if genuinely regretting the situation.
Although he blamed the political circles, he was actually urging Korea to create favorable conditions for Japan.
"It's frustrating that we can't move forward because we're stuck in the past. Honestly, hasn't Mitsui helped Suseong a lot? We provided raw materials and opened markets. Now it's time for the Japan Steel Union (JG) to find reliable partners like Suseong in Korea. We must go global together."
Branch Chief Nishijima passionately argued.
President Do Byung-chul kept nodding his head.
Their words sounded correct at a glance.
The Japanese government also believed internally that the claims fund would be used for the integrated steel mill.
They just didn't make it official to gain an advantage in the Korea-Japan agreement and ensure Japanese companies received comprehensive contracts for design, raw materials, plant construction, and maintenance.
In other words, the Japanese government pretended to stay out of it while political brokers sent friendly messages to make the Korean government accept Japan's conditions.
"It's not just His Excellency pushing for the Korean-led integrated steel mill that's the problem."
"It's not the President. It's the Ministry of Commerce and Industry poking at strange places instead of cooperating with Japan."
"You're both right. But the biggest problem is Woo Chansu stoking the dying embers. Isn't that the issue?"
They each voiced different opinions.
All this information was carefully stored in the minds of the Japanese in attendance.
"Woo Chansu, isn't he the president of Daese Industries? That bastard who ruined our fertilizer plant project!"
Branch Chief Nishijima ground his teeth.
They had bought the land, procured construction materials, and made political contributions, but the project fell apart because of Woo Chansu.
If it had succeeded, they would have taken over the Korean fertilizer market, but they had to abandon it at the last minute due to Woo Chansu.
"Yes, Branch Chief Nishijima. That scoundrel is now the chairman of the integrated steel mill committee. Who knows what rogue actions he'll take? Vice Prime Minister, can't we do something about him?"
"Ahem, His Excellency is watching..."
Vice Prime Minister Jo pretended to drink, avoiding the question.
He was focused on quickly concluding the Korea-Japan agreement and presenting the use of the claims fund for the integrated steel mill as his achievement.
He also disliked Woo Chansu, but there was no need to stir up trouble now.
"No, Vice Prime Minister, how can you say that? Congressman Kim, are you going to stand by? Didn't CEO Dong Il-joon lose his position because of that guy?"
CEO Dong Il-joon of Incheon Steel was a financial backer for Congressman Kim Jung-pil.
Although they had to cut ties due to the Incheon Steel incident, it was a great loss for Kim Jung-pil.
"For now, we have to wait. Woo Chansu is digging his own grave, isn't he? We just need to plan a proper steel mill with Japan. Justice will prevail, won't it?"
"Congressman Kim is right. Please help us at least sign a technical service contract for the integrated steel mill with the Japan Group (JG)."
Congressman Yatsui intervened.
Japan's strategy was to pursue practical work under the surface without signing the agreement officially.
"Tsk, such matters require something..."
"That's why Mitsui Trading is here. We've smuggled flour into the country under the radar, haven't we? Haha!"
Congressman Yatsui laughed heartily, looking at Branch Chief Nishijima of Mitsui Trading.
Indeed, Mitsui Trading played a crucial role as the financial backer for political brokers between Korea and Japan.
Three years ago, they smuggled 100,000 tons of flour from Canada into Korea. This time, they planned to do something similar.
"It's not difficult. Whatever you need, we'll bring it. Just say the word."
"Saccharin, telephones, bleach... Ah, flush toilets. These are the most profitable among the banned items."
"I'll bring a shipload of them at cost price."
"Ha, it's a threefold profit item. Can't we get it at cost price?"
"Among us, what does it matter? Just ensure the integrated steel mill construction proceeds. Mitsui Trading will make a profit from the construction materials. Hahaha."
"Hahaha, Suseong will lobby hard too."
President Do Byung-chul laughed heartily, openly saying he would lobby the politicians.
"Rebates are 10% at the minimum, you know?"
"Hahaha, of course. We always offer more than the minimum."
Vice Prime Minister Jo spread his ten fingers, smiling broadly.
The construction cost of the integrated steel mill would be at least
100 million dollars, meaning the rebate would be no less than 10 million dollars.
Depending on what Mitsui Trading smuggled in, that amount could multiply several times over.
"For the future!"
"For Korea-Japan friendship!!"
"Kanpai!"
"Kanpai!"
The six men cheerfully drank Ballantine's.
For the Japanese of this era, extracting money from the Korean market was as easy as walking on the ground.
By subtly enticing the behind-the-scenes networks with bait, they effortlessly created lucrative projects.
All the money came from the Korean treasury or loans, making it impossible to disclose, and there were no repercussions no matter how much they took. It was a golden opportunity.
***
The integrated steel mill project committee.
"Think only of the integrated steel mill and work tirelessly. If it fails, jump into the Han River."
Upon arriving at the committee office, a chilling slogan was plastered on the wall.
It seemed excessive, but there was no better way to describe the fervor of the committee members.
"Director Seok, please bring me the preliminary equipment list."
"Yes, Chairman."
I spent several days reviewing the documents without going home.
To undertake a project as large as an integrated steel mill, a 'General Engineering Plan (GEP)' must first be created.
This plan would be submitted to foreign governments and companies to attract investment.
Honestly, I had little faith in civil servants of the 1960s, but seeing their policy implementation and work capabilities here made me feel ashamed of my previous thoughts.
Rather, the work style of the Blue House was impulsive, and the National Assembly was an incompetent organization.
'Economic development in the '60s and '70s didn't come from playing go-stop. These people work hard and well.'
The evidence was right in front of me.
From the review stage to completion, the milestones for the integrated steel mill were documented in the General Engineering Plan (GEP).
Technical reviews, economic feasibility studies, demand forecasts, raw material procurement strategies, financing plans, and more... all sorts of materials were prepared.
The only drawback was the somewhat inefficient process design, but that was not their fault. It was something I had to fill in with 21st-century technology.
"President Woo, I have something to discuss. Do you have time?"
"Go ahead."
Assistant Vice Minister Yeom came to my desk.
The office was filled with dozens of experts from the Economic Planning Agency, the Ministry of Commerce and Industry, the Korea Institute of Science and Technology, the Industrial Bank, and other organizations.
The vice-chairman was Assistant Vice Minister Yeom Won-chul, and the fact that he came to my desk meant he was representing the committee members who had urged him to ask me a question.
"President Woo, why are you going to the Pittsburgh Conference instead of sending a special envoy to West Germany? We have the president's letter and the accident report for Incheon Steel, which should be enough to meet the West German Chancellor."
"Can the West German government pay for our entire integrated steel mill? We need to go where the money is. We'll meet the West German government and other companies."
The Pittsburgh Conference was a sort of conference hosted by Coopers in the United States.
In the 1960s, it wasn't about presenting papers; it was a social gathering where steel companies and investment firms predicted the global economy for the next year and discussed investment strategies. It was a party for steel companies with money.
I had sent a notice that I would attend this conference.
I had announced my participation as the chairman of the Korean government's official 'Integrated Steel Mill Project Committee,' so they couldn't tell me not to come.
"If that's your reasoning... But... Can we send invitations to the Pittsburgh Conference like this?"
I had sent invitations to the conference to various companies, and the timid Assistant Vice Minister Yeom was asking on behalf of other committee members.
"It's fine. The more guests at a party, the better. We simply sent invitations to each company saying we would like to meet them at the conference. It's up to them to decide whether to participate."
"If I may be so bold, what if the West German government doesn't come? Won't that be a disaster?"
"Why worry about that? We're taking an accident report to a conference where all the world's steel companies gather. Do you think the West German government won't come? They'll rush over, fearing we might disclose the report. We hold the power."
"Oh... I see."
In the 21st century, such conferences were too common to be a problem, but in the 1960s, they were rare, so everyone was scared.
For me, the fact that such a conference was soon to be held seemed like a stroke of national luck.
"Moreover, if the West German government pays just 30% of the total construction cost, the project will be a hundred times easier. Companies from the U.S., France, and others will compete to take a share."
"Compete to invest?"
Why is he tilting his head?
Come to think of it, didn't I explain?
"We just need to form our integrated steel mill as a corporation, not a state-owned enterprise. That's what we need to do before attending the Pittsburgh Conference."
"A corporation?"
"Everyone, gather around. I'll explain the plan."