Hu Jintao, Vice Chairman of the Central Military Commission, was a heavyweight politician representing the Communist Youth League of China, one of the three major factions that shaped the power structure of the nation.
'Above all, he is also the man virtually designated to succeed Chairman Jiang Zemin as the next supreme leader of China.'
At the mention that the man who would become China's supreme authority—overseeing the Party, the government, and the military for the next decade—wanted to see him, Seok-won felt a flicker of puzzlement, followed almost immediately by the thought that this might be a valuable opportunity.
[You may already know this, but Vice Chairman Hu Jintao is almost certain to be elected General Secretary at the 16th Central Committee Plenary Session in November, succeeding Chairman Jiang Zemin.]
"I have heard that at next year's National People's Congress, he is expected to assume the presidency as well."
[As expected, you are well informed. That is correct. Beginning with the November Plenary Session of the Party's Central Committee, he will gradually inherit Chairman Jiang Zemin's positions and become the supreme leader who will guide our People's Republic of China.]
Since it was something he already knew from the memories of before his regression, Seok-won gave a small nod and asked in a calm voice,
"Then why does Vice Chairman Hu suddenly wish to meet me?"
[I was not told the details either.]
Liu Shangfu continued, his tone turning noticeably serious.
[However, there is one thing I can guess.]
"What is that?"
[Once the transfer of power is fully complete and Vice Chairman Hu Jintao takes control of the administration, he will be preparing and implementing the 11th Five-Year Economic Development Plan.]
True to its nature as a communist state, China continued to operate under a planned economic system in which the government controlled production, consumption, and capital investment every five years.
[Although it is customary for a president to serve consecutive terms once in office, he must still demonstrate visible achievements during his first term to firmly consolidate the foundation of his administration.]
Seok-won immediately grasped the implication behind those words, and a sharp glint flickered in his eyes as he responded.
"He needs achievements comparable to those of Chairman Jiang Zemin, who successfully led the reform and opening policies—that's what you mean."
[Exactly. There is a strong possibility that he will actively utilize the 11th Five-Year Economic Development Plan as a key instrument to produce tangible results.]
"There is no achievement more direct or immediately felt by the people than economic development."
[You're right. In my view, since you are a major Wall Street figure capable of moving vast sums of capital, he may be hoping to receive some assistance in relation to the 11th Five-Year Plan.]
Finding the speculation entirely plausible, Seok-won leaned back into the leather seat and gave a small nod.
[In any case, there is no harm in becoming acquainted with Vice Chairman Hu Jintao, who is all but certain to be the next leader.]
"That's true."
Seok-won adjusted his grip on the phone in his hand and said,
"If you let me know the exact date, I will visit Beijing at that time."
At that, Liu Shangfu beamed with delight, pleased that he had successfully arranged the meeting and preserved Vice Chairman Hu Jintao's dignity.
[Hahaha! A wise decision. I will call Beijing, settle on a suitable date, and get back to you.]
"Please do."
After ending the call and lowering the phone from his ear, Seok-won stroked his chin with one hand and muttered to himself,
"Hu Jintao… If I play this well, it could turn into a valuable opportunity."
***
A few days later, Sangdong-eup, Yeongwol County, Gangwon Province.
Deep within a valley of the Taebaek Mountain Range, where towering peaks rose like folding screens on all sides, there lay an abandoned mine that had been shut down long ago.
A rusted water tank and buildings left entirely without maintenance—every window shattered, their frames standing like grotesque ruins—lent the place an even more desolate atmosphere.
Only the vast expanse of the mining grounds, wide enough to fill the entire valley, testified to the fact that this had once been a place where countless miners worked to earn their livelihoods.
In the abandoned mine, long untouched and steeped in oppressive silence, the heavy thrum of rotor blades suddenly echoed through the valley.
Tututututu!
From afar, a Bell 412 helicopter flew in over the ridgeline.
Painted in a blue-and-white two-tone scheme, the helicopter made a wide circle in the sky, as if surveying the vast grounds of the abandoned mine below.
Wearing a headset, Seok-won sat in the passenger cabin and carefully examined the deserted site through the windscreen.
At a glance, it was clear the place had been left unattended for a long time, completely devoid of human presence. Lifting his face, shaded by Ray-Ban sunglasses, Seok-won remarked,
"It looks like it hasn't been maintained at all."
At that, Jeong Gyu-cheol, President of Bluehole Construction, who was seated beside him, responded.
"It is said that at one time it produced 2,700 tons of tungsten annually, accounting for 20 percent of the world's total output. However, after China began its opening policies in the 1980s and started exporting large quantities of low-priced tungsten to the international market, its price competitiveness declined, and mining operations were halted in 1992."
"The operating company, Korea Tungsten, completely shut down the Sangdong Mine in 1994, correct?"
"That's right."
Looking at the waste rock piled up like small mountains here and there, Seok-won spoke.
"Then it must have been left in that state for eight years."
"Yes. To make matters worse, the company that had acquired Korea Tungsten, which held the mining rights, went bankrupt and was dismantled during the IMF financial crisis, leaving the site in an even more difficult and neglected condition."
The scars of the IMF financial crisis, which had inflicted unforgettable frustration and pain upon the entire nation of South Korea, still lingered even in this remote mountain valley of Gangwon Province. At the thought, a bitter expression crossed Seok-won's face.
Just then, the pilot's voice came through the headset he was wearing.
[We will begin landing now.]
At Seok-won's nod, the pilot gradually lowered the altitude and brought the helicopter down onto a wide clearing overgrown with weeds, kicking up clouds of dust as it landed.
Once the rotor blades came to a stop and the dust settled, Seok-won opened the sliding door on the right and stepped out of the helicopter with his entourage.
From the field office building a short distance away, three or four men in gray jumpers hurriedly ran toward them.
A middle-aged man who appeared to be in his early fifties approached while catching his breath, then bowed deeply toward Seok-won along with the others.
"Welcome. I am Lee Seon-dong, President of Korea Tungsten."
Seok-won removed the sunglasses he had been wearing, slipped them into the pocket of his jacket, and extended one hand.
"I'm Park Seok-won."
At the gesture inviting a handshake, President Lee Seon-dong quickly clasped his hand with both of his, as if deeply honored.
"I just came to take a brief look around. I hope I haven't caused you any unnecessary trouble."
"Not at all. Since you've come in person, Chairman, it is only proper that I guide you myself."
Not only President Lee Seon-dong, but all the Korea Tungsten employees who had come out with him looked visibly tense.
Under normal circumstances, after its parent group went bankrupt during the IMF crisis, the company should have been sold off overseas as the first major foreign divestment.
However, perhaps due to the butterfly effect of the events Seok-won had set in motion, Korea Tungsten had not been sold abroad and was instead placed under the management of its creditor banks.
Although the Sangdong Mine had been shut down, the Daegu plant that produced metal cutting tools and tungsten powder still remained in operation.
Of course, the tungsten that had once been mined from Sangdong was now being imported from China for use as raw material.
The company had barely been maintaining the status quo under creditor management. So when word came that Seok-won—the world's richest man and owner of Bluehole Group—was coming to inspect the closed Sangdong Mine, President Lee Seon-dong and the employees had rushed over with a faint spark of hope.
After exchanging light handshakes with the others who had come to greet him, Seok-won slowly surveyed the surroundings.
Tall weeds had grown unchecked, the old buildings were cracked along their walls, and most of the paint had peeled away, leaving hardly any intact windows. The sight naturally caused his brow to furrow.
Seeing this, President Lee Seon-dong quickly opened his mouth, worried that Seok-won might be disappointed by the mine, which was little more than a ruin.
"The Sangdong Mine, which first opened in 1916, is one of the largest tungsten mines in the world."
"If it was operated since the Japanese colonial period, then a considerable amount must have been extracted."
"According to the records, 2,700 tons of tungsten were mined and exported annually."
President Lee Seon-dong spoke while discreetly studying Seok-won's expression. Seok-won stood there in a handmade bespoke suit, both hands tucked into his trouser pockets.
"However, the estimated remaining reserves still amount to approximately one billion tons. More importantly, the estimated high-grade tungsten reserves—at 0.44 percent, more than double the global average—reach 52.8 million tons. Even that alone would be enough to mine one million tons annually for a full fifty years."
President Lee Seon-dong, eager to promote the value of the Sangdong Mine by any means possible, went on at length, practically spraying spittle as he spoke.
However, Seok-won, who had been listening, showed little change in expression and spoke bluntly.
"Although the reserves are abundant and the grade is high, it's also true that it lacks price competitiveness compared to Chinese tungsten, which holds over 90 percent of the international market."
"That's…"
At the sharp remark, President Lee Seon-dong was left speechless.
The Korea Tungsten employees standing nearby also fell into somber silence.
After all, they themselves still owned the Sangdong Mine, yet had ceased mining operations and were instead importing Chinese ore to produce tungsten powder and metal cutting tools. There was no room for excuses.
Seok-won cast a brief glance at them, noticing how their earlier anticipation had seemingly turned into disappointment. Pretending not to notice the shift in mood, he asked,
"There's probably no need to look at the external facilities any further. I'd like to see inside the shaft. Would that be possible?"
President Lee Seon-dong, whose shoulders had been slumped, hurriedly nodded.
"Ah, yes! I'll guide you. This way, please."
As he took the lead, Seok-won followed with his entourage.
After walking some distance across the mining grounds, overgrown with weeds and scattered with gravel, they came upon a massive tunnel opening yawning darkly at the foot of the mountain.
The entrance was wide enough for a large dump truck to pass through with ease.
The enormous iron gate standing open to one side was stripped of paint and thickly coated in reddish rust, looking as though even brushing against it might risk tetanus.
After the mine had been closed, it had remained firmly shut—until now. For Seok-won's visit, it had been reopened for the first time in eight years.
"Well, we conducted a safety inspection in advance, but there could still be unforeseen accidents or falling rocks. Please wear this."
A middle-aged man named Park Young-gyu, who had earlier introduced himself as the Head of Mining Operations, respectfully presented a yellow safety helmet with both hands.
There were times when distinguished visitors would complain that such precautions were a nuisance, no matter how much they were told it was for their own safety. So he was always somewhat anxious in these situations. Fortunately, Seok-won accepted the helmet without a word and put it on, which reassured him inwardly.
Once everyone had donned their helmets, Director Park Young-gyu took the lead in place of President Lee Seon-dong and began guiding the group.
"Our staff will remain nearby, but please be careful not to lose your way and refrain from touching any of the equipment."
After loudly going over the safety precautions, Director Park Young-gyu led the group into the tunnel.
Inside, an emergency generator had been hastily installed to restore electricity, and with the light bulbs now switched on, it was possible to make out their surroundings to some extent.
Having spent all of his youth here—and believing he would never set foot inside again—Director Park Young-gyu found himself returning to the shaft after several years. An involuntary look of deep emotion crossed his face.
But he quickly composed himself and, casting a sideways glance at Seok-won walking behind him, continued his explanation.
"The main shaft continues like this for about four kilometers. And along the right-hand side, you'll see passages that look like side corridors at intervals. Mining was carried out by entering those and following the ore veins."
Director Park Young-gyu shone his flashlight toward the ground.
"Once the ore is extracted and brought out to the main shaft, as you can see, it is transported outside along the rails laid on the floor and then sorted."
As he explained, Director Park Young-gyu led the group into the foremost mining tunnel.
Without going too deep—after walking in about one hundred meters—he stopped, turned around, and looked at Seok-won.
"From here on, I will show you the true face of the tungsten vein."'
At his hand signal, the staff switched off all the flashlights they were holding.
In an instant, darkness so thick that one could not see an inch ahead engulfed the tunnel. Then Director Park Young-gyu took out a pre-prepared ultraviolet lamp and illuminated the surroundings—revealing an unexpected sight.
As if starlight had been scattered across the walls, the entire shaft shimmered, glowing as though it were encased in luminous blue jewels.
"Wow!"
"Beautiful…"
Exclamations of awe burst from the onlookers, and Seok-won, too, gazed around the tunnel with a look of astonishment.
At their reaction, Director Park Young-gyu straightened proudly and declared, his voice filled with pride,
"All of those sparkling blue jewels you see are tungsten ore."