Chesapeake Energy Headquarters
I visited the building in my capacity as Chairman of the Taewoo Group.
A massive banner hung in the middle of the headquarters, and from the entrance, the executives stood in two neat rows to welcome me.
"It's truly an honor to be able to collaborate with the Taewoo Group."
"The honor is mine. Your generous welcome leaves me at a loss for how to respond."
"I've heard there's never been a failed project when working with the Taewoo Group. From Apple to luxury brands, the moment they join hands with you, they rise to success after success. I can only hope that this project will be the same."
Richard Donovan, Chairman of Chesapeake Energy.
I couldn't bring myself to look directly at his face, glowing with such enthusiasm.
Because contrary to his hopes, this collaboration was bound to end in failure.
The Taewoo Group would suffer almost no loss—but Chesapeake Energy would bear massive damage, driving it to the brink of bankruptcy.
This collaboration was, in truth, more of a prelude and a trap.
A trap designed to acquire Chesapeake Energy—and Chesapeake had already stepped inside.
"The Taewoo Group will fully mobilize all its capabilities to support everything you wish for."
"Just hearing you say that is truly reassuring. Well then, let's head inside and finalize the contract."
It wasn't an empty promise.
The Taewoo Group genuinely intended to provide most of what Chesapeake Energy desired—Taewoo Construction's advanced technology, the construction machinery from their newly acquired firm, Bobcat, and more.
But there was one exception.
No direct additional funding would be provided.
Because once the Taewoo Group pumped in extra capital, Chesapeake Energy might actually be able to avoid bankruptcy.
"This contract includes all the conditions proposed by the Taewoo Group. Priority rights to acquire shares and even specific measures for environmental protection in Texas have been added."
"We went to great lengths to persuade the Texas influential figures and finally secured permits for shale gas development. Every one of them expressed significant concerns about pollution."
"Don't worry. Chesapeake Energy possesses the technology to extract shale gas cleaner than any other company."
"That's exactly why we want to collaborate with Chesapeake Energy. As far as shale gas extraction goes, you surpass any oil refiner, as far as I know."
"I'll prove those aren't just empty rumors!"
With that, we shook hands and took our seats.
Holding the signed contract, we even took a commemorative photo to mark the beginning of our partnership.
The moment Chesapeake Energy signed the contract, it had fully stepped into the trap we had set.
"You're free to begin shale gas development in Texas whenever you wish. In particular, you may use our Waggoner Ranch as your base if you like."
"I heard news that you bought the ranch for $700 million. At first, I couldn't believe a single ranch could cost $700 million."
To Chairman Richard, I must have seemed like nothing short of an angel investor.
I had allowed him to use an enormous ranch in Texas for free as a base, and enabled Chesapeake to begin developing shale gas in the most resource-rich part of the state.
But he hadn't shaken hands with an angel—only with the devil.
Even if Chesapeake Energy were driven to the verge of bankruptcy, he would never realize he'd made a deal with the devil.
***
Two days later.
I traveled from Texas to New York.
I entered a building called the "Trump Tower."
It was named after the man who would become the 45th President of the United States, and the headquarters of the company he ran was located in this building.
"Mr. Kim! It's been a long time. I already heard you succeeded your grandfather as chairman. And I hear everything you touch lately turns to success? Truly, the bloodline is different."
"My grandfather asked me to be sure to send his regards. He's been very interested in the development of Southeast Asia these days, so he couldn't come with me to the U.S."
"I don't understand why such an old man wanders about so much. Wouldn't it be better to just relax and watch over his grandson's work?"
Trump was hardly one to talk.
Despite his advanced age, he couldn't stay still, had run for president, and was even elected.
"My grandfather said that if he stopped working, he'd feel himself age faster. He credits his current good health to working hard."
"That's true. I feel like my body is rotting if I take even a little break. Come on, let's go inside and continue our conversation."
We moved to Trump's office.
As expected from a real estate tycoon, the interior was quite lavish.
I hadn't known where my grandfather got the inspiration for the Taewoo Group chairman's office design, but seeing this, I finally understood the answer.
"I heard from David that you want to support me?"
"I heard you're entering politics, Chairman Trump. I personally want to back you."
"Hahaha, you're the first to come offer support. Maybe people think tycoons like me don't need it."
Tycoons naturally had plenty of money.
But they tended to guard their wealth tightly and often hesitated to spend significant money on politics.
"In Korea, many tycoons have tried to become president but have repeatedly failed. But I believe Chairman Trump could succeed."
"Oh! President, you say? You don't hold back saying what you want to a complete political newcomer."
Trump scolded loudly, but his mouth was smiling.
In fact, the image I had of Trump was closer to that of a comedian, but after meeting and talking with him, he was actually more serious than I expected.
"From now on, whatever election you enter, Chairman Trump, I will fully support you. I can guarantee that you will never lose because of a lack of campaign funds compared to your opponents."
"I've heard that the Taewoo Group has more money than it knows what to do with. It's very reassuring that the chairman of such a rich group wants to support me. But I've heard you're close to the Obama administration. I started my political career with the Republican Party."
The Obama administration was Democratic.
He was essentially asking if it was okay for him, a Republican, to receive support from someone close to the Democrats.
"I don't support based on party. I decide purely by the person. I only back those who have a high chance of winning."
"Do you really have such good judgment? I've heard stocks you pick always rise, and companies you endorse hit the jackpot. So, do I look like someone who will hit the jackpot too?"
"I see you that way. Not as a jackpot winner, but as someone who will win the Powerball lottery that hasn't had a winner for a year."
Even a casino jackpot was only worth tens of billions of won.
But the Powerball, similar to our country's lotto, would sometimes yield winnings in the trillions.
At this moment, no one believed Trump would become president—it was about as likely as winning the Powerball.
"I have deep ties with the Taewoo Group. Thanks to your grandfather, I avoided bankruptcy. And now, you, his grandson, say you will be the benefactor of my political career. Ha ha."
"I hope I'm not causing trouble by suddenly bringing up sponsorship."
"If anyone else had suddenly brought up sponsorship the way you did, I'd be suspicious of their motives. But you are different. Our ties go back to your grandfather. I'll gladly accept your support."
Thanks to the connection between Taewoo Group and Trump, things went smoothly.
Unlike other presidents, Trump was known for committing outrageous acts during his term, making a relationship with him all the more important.
After finishing all my business in the United States, I returned to Korea.
It was a short schedule of just one week, but during that time, many things were happening back home.
The political scene in Korea was especially heating up.
"The parliamentary election is less than two months away. All parties have officially entered full election mode."
"How is the situation with the National Economic Party?"
"Based on current polls, it looks like they can secure anywhere from 70 to 90 seats out of 300. But the ruling party's rising support is concerning. Since forming the emergency committee, their approval ratings have surged sharply."
The current president had little time left in office.
That opened the door for the ruling party's future power, allowing the party to unite tightly around emerging leaders.
Once the center solidified, approval ratings naturally climbed.
That's why the ruling party's support was rapidly increasing.
"Hmm, 90 seats would mean the gap with the two major parties wouldn't be that large."
"The ruling party is expected to hold about 110 seats, and the opposition around 90."
"The National Economic Party might become the main opposition party."
"If we actively mobilize, couldn't we even secure more seats than the ruling party?"
With all our resources combined, it wasn't impossible.
But doing so risked suspicion of collusion between the Taewoo Group and the National Economic Party, which I wanted to avoid.
"Just support quietly as before. Achieving 90 seats is enough to meet our goal."
"Understood. Then I'll draft an election strategy aimed at securing 90 seats."
"If the ruling party can't score an overwhelming victory, and the National Economic Party becomes the main opposition, Governor Choi Jaeseok's chances of becoming president will rise significantly."
Haste makes waste.
Ninety seats was already a rapid pace, and gaining over 100 seats in the next election would be sufficient.
"Also, there's another update. The Gangnam Financial Hub construction is expected to finish earlier than planned. Completion looks possible by mid-next month."
"That's really fast. Already finished? The financial hub building will be done before the new headquarters?"
"The new Taewoo Group headquarters is 110 floors above ground and 8 below, so it will take longer. But the financial hub consists of a 70-floor tower and a 35-floor convention hotel, which significantly shortened the timeline."
The original plan for the Financial Hub building had called for over 100 floors.
However, since we had promised the Blue House to complete the project within the current administration, we had no choice but to reduce the number of floors.
"It's a shame we couldn't surpass 100 floors, but completing it quickly isn't a bad outcome either."
"They say staff from the Blue House are coming by regularly for inspections. Since they want to showcase the Financial Hub as the administration's final achievement, their interest is intense."
There was nothing to gain from breaking promises with the political world.
Even though this regime's days were numbered, power's embers never completely went out—if we betrayed them, retaliation would be certain.
Honestly, I would've preferred to pass the Financial Hub building's achievement on to the next administration.
But there was no need to stir up unnecessary trouble; if we were going to offer a gift, it was best to make it a solid one.
"How many financial companies have signed up to move into the Financial Hub building so far?"
"Thirty Wall Street firms are currently on standby for occupancy, and both Cocoa Bank and Taewoo Securities have decided to use the building as well."
"A 70-story building, and only thirty? That's not enough. We'll need to attract some European firms as well."
European financial companies were compromised by their recent debt crisis, so it would be easy to make them relocate their Asian headquarters to Seoul's Financial Hub building.