A true one-on-one duel.
Even though Choi Jae-seok had stepped down while calling for national unity, the two remaining major party candidates plunged into negative campaigning—all in pursuit of even a single percent more support.
It wasn't unity, but outright division.
I had known things would turn out this way from the beginning. The more viciously the major parties fought, the higher Choi Jae-seok's value inevitably became.
"Chairman, what's your take? According to information from Wall Street, the conservative ruling party candidate has a slight edge in this Korean presidential election."
"It all comes down to who manages to claim more of Choi Jae-seok's supporters. But in the end, I suspect most will drift toward the ruling party candidate, who has the larger 'concrete' support base."
I had little personal interest in this election, so even though it was election day, we simply watched the returns with a beer in hand, treating the coverage as ambient background noise.
"Looks like the exit poll results are about to be announced."
"This, we have to see. Exit polls are almost never wrong."
I set my beer down and turned my attention to the TV.
After a dramatic countdown, the exit poll results flashed across the screen:
[50.3% VS 49.7%]
"A razor-thin margin of just 0.6%. It's impossible to predict the final outcome until the vote count ends."
"Still, the ruling party candidate is in the lead."
Was that how the exit polls looked before my regression as well?
The race felt much tighter than I recalled from my past life. The wildcard of Choi Jae-seok, and the impact of the People's Economic Party preventing the ruling party from sweeping the last general election, had set off a butterfly effect.
"With just a 0.6% difference, could the results flip before the count finishes?"
"In a nationwide election, 0.6% is still several hundred thousand votes. I doubt there's any real chance of an upset. Looks like Korea will have its first female president."
With the exit poll over, I turned off the TV.
There was little chance of the results reversing, and since things were unfolding just like before my journey back in time, there was no reason to pay any further attention.
***
The next morning.
I arrived early at the office.
The planning director greeted me with hollow eyes.
"The vote count results are finally out. The ruling party's candidate won by a margin of 0.5%."
"Almost identical to the exit polls."
"But are you okay with that? Our party didn't support the ruling party at all during this election."
"What era do you think this is? Supporting election funds? This isn't the time of military dictatorships."
"That's true, but rumors say that the president has appointed a chief secretary who was active during the military regime era."
The secretary director was worried.
But I wasn't overly concerned.
Taewoo Group was no longer an entity that could be easily manipulated by the government.
Of course, things might get tougher for a while, but that was only for a few years to endure.
"The Blue House won't be able to directly control Taewoo Group. They just need to be wary of meddlesome flies buzzing around."
"What do you mean by flies?"
"No matter the regime, there are always factions that try to exploit the president's name for their own gain. These groups will approach us as well, asking for money under the pretense of donations or social welfare funds."
No matter how excellent a president might be, not everyone around him was trustworthy or honest.
This administration was especially one to be wary of those types, so I emphasized this to the chief secretary.
"So you mean to cut off all ties with such factions?"
"It might be easier to just give them some money, but if the administration changes, it could cause unnecessary misunderstandings. So even if other conglomerates give money, we must not."
"Won't that risk exclusion from government-led projects?"
"The People's Economic Party and the opposition will protect us."
I could say this because I had something to believe in.
If the People's Economic Party teamed up with the opposition, they would secure a majority of seats.
That meant even the Blue House would have to consider the People's Economic Party's position.
Until the administration ends, the People's Economic Party would remain Taewoo Group's strong shield.
"Then I'll refrain from meeting with anyone related to the Blue House."
"That doesn't mean we won't cooperate with the Blue House. For projects aimed at Korea's advancement, Taewoo Group will participate actively."
"We'll simply draw the line at unjust projects."
"By the way, how is the LNG power plant construction coming along?"
It had been a year since the Fukushima nuclear accident.
Even before that, we had already been moving ahead with the LNG power plant project.
"Sachonri Group and Taewoo Construction are working together on the construction. Even at the latest, we expect completion by the second half of next year."
"It certainly takes a long time with a plant of this scale."
"A smaller LNG plant can be completed in as little as a year and a half, but this is the largest LNG facility in Korea, so progress has been delayed. Fortunately, with Taewoo Construction's expertise, we're on track for completion next year."
The largest LNG power plant in Korea—
It had caused no shortage of controversy.
Regulatory issues and pushback from civic organizations were persistent hurdles, but above all, the question of economic viability was a bigger challenge.
"Are there still media figures or politicians questioning the project's feasibility?"
"Since the Fukushima disaster, skepticism has somewhat died down. But even now, there are many detractors who see large-scale LNG plants unfavorably, considering they're only about one-seventh as economical as nuclear plants."
Nuclear power plants were, of course, far more economical.
But after Fukushima, public doubt about nuclear safety had grown.
From Taewoo Group's standpoint, the need to secure stable electricity supply had led to beginning LNG construction well in advance.
"Natural gas prices are still rising, aren't they?"
"They're continually climbing. This year alone, prices have increased by more than 16% compared to last year. Next year, they're expected to rise by at least 10% more."
"From 2015 onward, LNG prices will drop significantly. At that point, the economic arguments will fade away."
The shale gas boom would take off in earnest starting in 2015.
At the same time, Saudi Arabia planned massive production increases, leading natural gas prices to fall by over 30%.
That allowed for more than five years of cheap natural gas imports, and guaranteed us a stable supply through the shale gas companies we had acquired.
It was precisely because of these complex factors that I had undertaken the construction of Korea's largest LNG power plant.
"You think LNG prices will drop from 2015? But according to expert analysis, prices are expected to continue rising."
"Shale gas development is ramping up, so prices will fall significantly starting in 2015."
Of course, even if LNG prices fell, the economic viability would still lag behind nuclear power.
But Taewoo Group was in dire need of massive electricity, and there was no other option right now.
"Based on the LNG price drop, we'll move forward on the planning level."
"Anything else to report?"
"There are rumors that Hyunjin Shipping might enter court receivership next year."
It was an inevitable process.
In reality, Chairman Choi Young-hee—currently sitting in that position—was just a figurehead.
Chairman Cho of Hyunjin Group was using the court receivership as a pretext to absorb Hyunjin Shipping.
"It won't be long before Hyunjin Shipping returns to Hyunjin Group."
"There are talks of foreign companies and current groups aiming to grab Hyunjin Shipping."
"Those are just rumors made by insiders without full knowledge. Once they learn Hyunjin Shipping's real situation, they'll back away completely. Of course, Hyunjin Group will naturally try to reclaim it."
I had already spoken with Chairman Cho regarding this.
And I planned to do everything to assist him in acquiring Hyunjin Shipping.
"Are you okay with Hyunjin Shipping belonging to Hyunjin Group? You seem quite interested in Hyunjin Shipping too."
"If Hyunjin Shipping is acquired now, it's nothing but a mass of debt. So it actually benefits us if Hyunjin Group takes on some of that debt."
Chairman Cho of Hyunjin Group was a capable manager.
And with Hyunjin Group's stable cash cow, it was certain they would pour a lot of money into normalizing Hyunjin Shipping.
However, that alone wouldn't solve everything.
It was like pouring water into a cracked jar—at best, it would only help remove foreign objects inside.
"Do you think Hyunjin Group won't be able to handle Hyunjin Shipping?"
"The cracked jar needs repairing, but Hyunjin Group lacks that capability. And the shipping cartel won't miss an opportunity like this."
Cartels naturally arise wherever profit exists.
In the shipping industry, two cartels monopolized the market.
The relationship between the largest cartel, 2M, and Hyunjin Shipping was at its worst, engaged in a destructive "chicken game."
"If only they could renegotiate charter fees, maybe Hyunjin Shipping could survive."
"Why would they revisit already favorable contracts? Ship owners fear the shipping cartel, so that will never happen. Let's watch how Hyunjin Group navigates this challenge a bit longer."
And there was one more variable remaining.
The newly elected president did not particularly favor Hyunjin Shipping.
As a result, it was clear Hyunjin Shipping would receive no government support and was bound to collapse.
"The White House has sent an invitation to the inauguration."
"Of course we have to attend. The inauguration is on January 21, right? We can arrive a week early to handle some business and then attend the ceremony."
"Actually, the inauguration has been scheduled for the 20th, not the 21st. And it will be a private ceremony."
"Ah! The 20th falls on a Sunday."
The presidential inauguration date was legally fixed.
Therefore, the ceremony must be held on that day without fail.
But if it fell on a Sunday, the private inauguration would be held then, and the public ceremony would take place the next Monday.
"Because it's a private inauguration, the news that you're meeting President Obama will not be made public."
"That must mean there's something he wants to discuss with me privately."
Taewoo Group had many businesses in the United States.
In fact, our sales in the U.S. far surpassed those in Korea.
This made the relationship with the U.S. president extremely important, and I was willing to comply with most of President Obama's wishes.
"Since it's the U.S. presidential inauguration, shouldn't you bring a good gift?"
"I've already prepared several gifts that could boost his early approval ratings."
"If the U.S. president is friendly toward Taewoo Group, it could minimize interference from the current Korean administration."
"That's why we made huge donations to his campaign. The returns on investing in the Korean election pale in comparison."
The People's Economic Party wasn't the only ally I trusted.
I was confident because I had completely brought the U.S. president onto our side.
That was why I could move forward with such confidence.