After spending the New Year of 2013 in Korea,
I traveled to the United States to attend President Obama's second inauguration.
Since there was still a week left until the ceremony, I planned to take care of a few things in the meantime.
To that end, President Han also accompanied me to the U.S.
"Mr. Kim! It's even better to see you here in America."
"I always feel sorry for making you come to Korea every time, Mr. George."
The first person I sought out was Representative George.
As he was leading the Financial Tower No. 1 Project, I headed straight to Quantum Fund as soon as I arrived in America.
"There's nothing to be sorry about! If there's money to be made, I'd go to the Arctic, not just Korea."
"Are the preparations going well?"
"Most preparations are complete. We've purchased large amounts of U.S. Treasury bonds and finished setting up short positions focused on companies that'll be heavily affected by rising interest rates."
George was the number one in this field—
A man who knew exactly where to strike to generate the greatest profits, thanks to his experience.
He was also someone who could let the financial institutions participating in this project taste the sweetness of success.
"It looks like the U.S. Fed will make a move soon. The instant the Fed Chair expresses an intention to reduce quantitative easing, you should set the operation in motion."
"Don't worry. I could run an operation of this scale with my eyes closed. Frankly, compared to what we've pulled off together so far, this is child's play."
It wasn't a project worthy of putting George's name front and center.
Of course, the reduction of quantitative easing would rattle the U.S. financial market and promise high returns.
But for someone like George, such profits would hardly be enough to sate his hunger.
"Before this operation ends, we'll launch a new project. This time, it'll target an entire country—it's right up your alley."
"Can't you at least give me a hint?"
"If you want, Mr. George, I'll share not just a hint but the entire project."
George quickly lowered the blinds.
He even turned off all the lights in his office before finally leaning in to listen.
"So, tell me—what's the next project?"
"Our target country is Venezuela."
Before my return, Venezuela's image was that of a total disaster—
A country that, quite literally, had collapsed spectacularly.
But at this moment, Venezuela was a nation with a high GDP.
"You want to target Venezuela? Venezuela has recorded its highest GDP in history for two consecutive years. Sure, growth slowed a bit last year, but it's still a country showing over 5% economic growth, isn't it?"
"But its relationship with the United States is steadily worsening."
"Hmm, last year's Venezuelan presidential election saw Chávez succeed in winning a fourth term. And who is Chávez, after all? Isn't he the man who called the U.S. President a devil? With someone like that in power again, there's no way relations with America will improve."
Chávez's popularity in Venezuela was overwhelming.
Naturally so—during his time in power, Venezuela's GDP had risen dramatically every year.
Who would dislike a leader who keeps their pockets full?
No matter how much dictatorship, corruption, or abuse of power he committed, Chávez's popularity was strong enough that people were willing to overlook it all.
"You may have heard the news—apparently, his cancer relapsed last year. He had surgery in Cuba, but it's said he doesn't have long left to live."
"He's really something. Clinging to power even while living on borrowed time?"
"There's a high chance Chávez will pass away within this year, or at the very least, his health will decline to the point he won't be able to remain president."
"Where did you hear news like that? Don't tell me, you even have close friends in Cuban hospitals?"
I answered with a laugh.
Before my return, the news of Chávez's death had been plastered over the media for days—I couldn't help but know it well.
But, of course, telling George that wasn't an option, so I simply let him draw his own conclusions.
"If Chávez dies, his successor, Nicolás Maduro, will likely become acting president and take over power."
"If he's in Chávez's faction, then naturally relations with the U.S. will remain as they are. So how does that change anything?"
"Venezuela's situation won't change, but the circumstances in America will shift dramatically."
George's office was decorated with many potted plants.
I approached the biggest pot, scooping up a handful of soil.
"The moment the shale gas revolution begins, Venezuela is destined to collapse."
"You think Venezuela won't be able to make money from oil anymore because of shale gas?"
"Venezuelan crude isn't very high quality. It's about comparable to shale gas. So from America's perspective, there's no longer any reason to keep an eye on Venezuela, is there?"
2013 marked the turning point.
The shale gas revolution and Venezuela's downfall.
Thanks to shale gas, the United States no longer had any reason to be led around by Venezuela.
With that, America gained various pretexts to sanction Venezuela's economy, and as a result, within a few years, Venezuela's economy would shrink to just a third of its current size.
"Well, Venezuela really has crossed the line. Still, up until now, we had to let it slide because of oil. But do you really think Venezuela's economy could collapse overnight? Even if shale gas production skyrockets, that alone isn't enough."
"Of course, U.S. sanctions alone wouldn't be enough to bring down Venezuela. But what do you think would happen if the Middle East adopted an oil expansion policy?"
"You mean even the Middle East would get involved? Hmm, in that case, Venezuela would have nowhere left to turn."
George knew full well about my ties with Saudi Arabia.
He accepted my assertions without much doubt, though there were a few lingering questions in his mind.
"But does the Middle East even have a reason to go after Venezuela?"
"There's a proverb: 'When whales fight, the shrimp's back is broken.' The Middle East's goal isn't to crush Venezuela—it's to restrain America's shale gas. That's why they'll ramp up oil production."
"So it's Venezuela that'll get caught in the crossfire. It's plausible, but we should keep watching global affairs for now."
There was no need to act right away.
Over a year remained, so it was enough just to keep mapping out plans whenever I had time.
"Once we have a handle on shale gas production levels and the Middle East's moves, we can act. Until then, we can sit back and enjoy the profits from America's quantitative easing project."
"If Venezuela completely collapses, the profits could be huge. Even just short-selling the oil companies invested in Venezuela could bring in a fortune. Not to mention, attacking Venezuela's currency could also yield gains."
George was already working out scenarios in his head.
A slow smile spread across his lips.
"We might even be able to bring the timeline forward. The more shale gas production increases, the sooner it'll happen."
"So that's why you invested such astronomical sums in shale gas. There's always a reason behind everything you do."
Quantum Fund even had a team dedicated solely to investigating me.
A group whose only job was to monitor my investments and analyze which businesses Taewoo Group was interested in.
Honestly, I'd always thought it was a waste of resources.
But since their analysis of me had led to several successful investments, I couldn't very well complain.
"There's still time before the Venezuela project begins. For now, our focus should be on the quantitative easing project. I have a private meeting scheduled with President Obama at the inauguration, so I'll try to gauge the mood around quantitative easing then."
"I'll be waiting for you like a hungry baby bird waiting to be fed."
To think that a man old enough to be my grandfather would call himself a baby bird…
I nearly grimaced, but I managed to force a smile and bid George farewell, knowing better than to insult the man at the helm of our project.
The next day.
This time, the person I sought out was Musk.
He was busy with the development of electric cars and rockets, but when I went all the way to his factory in person, he set aside everything he was doing to greet me.
"You're here! It's even better to see you here in America."
"Since you visited Korea last time, it's only right that I come to the U.S. this time. You seem to be in high spirits—work must be going well."
"The electric car and rocket projects are progressing, but the reusability project is tough. I think it'll take at least another two or three years of research before we see satisfactory results."
Reusing rocket boosters—
It was something that would change the course of the rocket industry, which meant it was naturally a huge challenge.
It was a project most people predicted would fail.
"You were the first private company to succeed at a rocket launch, so you'll definitely succeed at making them reusable, too. If you ever need more research funding, just say the word. I'll support you with as much as you want."
"Thanks to you, Mr. Kim, I feel incredibly secure. Everyone says I'll fail, but I couldn't care less about their opinions. If Mr. Kim says it's possible, then it is!"
A sole supporter.
I already knew Musk would succeed in creating a reusable rocket booster.
That's why, unlike others, I could support him wholeheartedly.
"To succeed at making rockets reusable, you'll need to launch a lot of rockets, right?"
"That's true. Many companies contract us to launch satellites, but that alone isn't enough volume. That's why I'm planning to launch even more satellites myself."
"That'll cost astronomical sums. So how about this? I'll cover half the satellite costs and half the launch costs."
A single rocket launch typically cost upwards of 90 billion won (around $80 million).
Launching satellites for clients usually helped cover those costs.
But with over 100 satellites potentially loaded onto a rocket, meeting that kind of volume wasn't easy.
"You're saying you'll shoulder half the cost? Does Taewoo Group intend to use the satellites?"
"Satellite applications will only become more widespread in the future. I'm investing now to prepare for that time."
"It's a very generous offer from my perspective, but as you know, we receive support from NASA. That means we'll need approval from the U.S. government if we're going to share satellites with another country."
Satellites were vital strategic assets.
Naturally, without the U.S. government's permission, they couldn't be freely used as one pleased.
"So, if you get approval, you'll accept my proposal?"
"Why wouldn't I? The only question is, how do you plan to convince the White House?"
"I'll be visiting the White House soon. I should have an answer for you—at the latest—by next week. I expect it'll turn out favorably."
"And what exactly do you intend to do with all those satellites?"
"Wouldn't you like to build a low-Earth orbit communications network?"
Starlink.
I brought up Musk's still-in-the-works vision for a global low-Earth orbit communication network.
If I could only secure a share in Starlink, covering half the launch costs would be a small price to pay.