"Did you say the Shanghai World Financial Center?"
"That's right."
When Seok-won tilted his head as if hearing about it for the first time, Mao Hua, the chief secretary seated beside Vice Chairman Hu Jintao, explained in detail instead.
"The construction plan is currently suspended, so it's understandable if you haven't heard of it. It's a project to build a skyscraper with three basement levels and 101 floors above ground in the Lujiazui Financial and Trade Zone of Pudong New Area in Shanghai."
"If it's 101 stories, it must be quite tall."
"The planned height is 492 meters."
At the mention that the building was designed to have 101 floors, Seok-won easily guessed that it had been conceived with Taipei 101, the world's tallest skyscraper, being built in Taiwan, in mind.
'Come to think of it, Taipei 101 is supposed to be completed around the end of next year.'
The construction of the world's tallest skyscraper in the center of Taiwan's capital, Taipei, was practically a symbol of the island's dazzling economic growth.
For China, which did not recognize Taiwan as a sovereign nation and whose economy still lagged comparatively, it was bound to be both irritating and a blow to national pride.
'On top of that, the 88-story Jin Mao Tower in Shanghai's Pudong New Area currently holds the title of the tallest skyscraper in East Asia. Once Taipei 101 is completed, that title will be taken away—so naturally they'd feel even more bitter and annoyed.'
Then he recalled the three towering skyscrapers that had formed a magnificent skyline rivaling New York's, alongside the enormous Oriental Pearl Tower, when he had visited Shanghai on an overseas trip before his regression.
"Are you referring to the supertall building being constructed next to the Jin Mao Tower?"
At Seok-won's question, Vice Chairman Hu Jintao's eyes lit up.
"That's right. As expected of one of the top investors on Wall Street—you're already familiar with the construction plan for the World Financial Center."
It was clearly a misunderstanding, but there was no need to explain that he had simply seen it while taking a cruise during a night tour of Shanghai before his regression.
"I didn't realize it immediately when you first mentioned it, but I recall hearing that the Chinese government is pursuing an ambitious plan to develop a large-scale financial district in Shanghai's Pudong New Area—one intended to become a global financial hub like Manhattan in New York."
"Exactly as you said, Chairman Park. The key project for transforming Shanghai into a global financial center equal to—or even surpassing—Hong Kong is precisely the development of the Lujiazui Financial and Trade Zone."
Vice Chairman Hu Jintao continued speaking with evident pride.
"To achieve that, we plan to relocate the headquarters of several exchanges—including the Shanghai Stock Exchange, the Shanghai Futures Exchange, the China Financial Futures Exchange, and the Shanghai Diamond Exchange—to the Lujiazui Financial and Trade Zone. In addition, major commercial banks, including the Bank of China, will establish their second headquarters there."
In fact, he remembered that not only Chinese financial institutions but also HSBC, Citibank, and numerous foreign financial firms had opened offices there, pushing Shanghai to the very doorstep of Hong Kong's financial dominance.
'On top of that, large shopping malls were built, and together with the Oriental Pearl Tower, the densely packed skyscrapers created a stunning night skyline. It became a famous tourist spot that visitors to Shanghai always made sure to see at least once.'
The dazzling night view of Pudong New Area—its forest of skyscrapers rising toward the sky—was often seen as a symbol of China's rapid economic ascent, impressive even when compared with Manhattan in New York.
"One of the key projects for establishing the financial hub is the construction of the Shanghai World Financial Center. But things haven't gone as planned, and it has become quite a headache."
"Is there some kind of problem?"
Vice Chairman Hu Jintao spoke with a slight frown.
"If things had gone according to the original plan, construction would have begun immediately after the Jin Mao Tower you just mentioned, Chairman Park, and by now it would have been nearing completion."
"So it seems the project didn't proceed as planned."
"That's right. Construction began in August 1997, but not long afterward that damned Asian financial crisis broke out. The French company that had been pushing the project halted construction and kept dragging things out, and in the end, they completely withdrew from it."
"I see."
The financial crisis of 1997 had left deep scars not only on Korea but across all of Asia, and China had not escaped its impact either.
"The project has been abandoned for nearly five years now, with only the excavation of the underground levels completed before construction was halted."
Seok-won immediately understood what the other party wanted, but he listened quietly without revealing it.
"Would Chairman Park be willing to take over the suspended construction project of the Shanghai World Financial Center?"
"Me?"
Vice Chairman Hu Jintao nodded.
"With Chairman Park's financial resources, you should be more than capable of taking charge of the World Financial Center project and seeing it through to completion."
"It's not something I couldn't do, but if it's a supertall landmark building to be constructed on prime land in Shanghai, I imagine there would be many developers interested in it."
As the shock from the Asian financial crisis and the dot-com bubble that followed began to settle, the tightness in funding was gradually easing as well.
Moreover, it was also a time when investors from around the world were beginning to take a strong interest in China following its entry into the WTO.
"As Chairman Park said, there have indeed been parties that proposed resuming the project first."
"In that case, wouldn't it be best to simply choose the one offering the most favorable terms?"
Though it sounded like a casual remark, there was a subtle sharpness behind the words. Vice Chairman Hu Jintao fell silent for a moment before revealing his true intention with a rather serious expression.
"To be honest, what we want is the reputation Chairman Park carries."
"So you're thinking of using my name to accelerate the development of the Lujiazui Financial and Trade Zone project, which has been stalled since the Asian financial crisis."
Seok-won replied calmly, as if he had already expected it.
At the sharp observation, Vice Chairman Hu Jintao nodded inwardly, thinking that although Seok-won was young, he was certainly no ordinary individual.
"That's right. If Chairman Park—the world's richest man and someone famous for never having failed in an investment—personally invests a massive sum, we expect others will also begin to show interest in the development of the Lujiazui Financial and Trade Zone."
In short, they wanted to put him forward as the figurehead.
Indeed, if Seok-won invested, there was a high chance that foreign capital—which had been hesitating and cautiously testing whether it was truly safe to enter China—would become far more proactive.
That was because the reputation and influence Seok-won possessed were immense, and it seemed both the Chinese government and Vice Chairman Hu Jintao were fully aware of that.
'That must be why they made this proposal to me.'
From this alone, Seok-won could tell that Vice Chairman Hu Jintao possessed a remarkably deep understanding of economics and finance.
"What do you think of my proposal?"
"Well… it's rather sudden, so…"
Seok-won trailed off as if deep in thought.
Although it was indeed a sudden proposal, from Seok-won's perspective, there was absolutely nothing to lose.
'No—in fact, it would be more accurate to say it's an enormously profitable deal.'
It was the World Financial Center building, destined to become one of Shanghai's representative landmarks alongside the Jin Mao Tower and the Shanghai Tower, which would be built later.
Considering how Shanghai's real estate prices would skyrocket due to explosive economic growth, this was clearly an opportunity to make a fortune.
Of course, the subprime mortgage crisis that would arrive a few years later was a concern, but if the timing was handled well, it could actually maximize profits.
However, instead of immediately accepting the proposal, Seok-won deliberately maintained a cautious attitude.
'The Shanghai World Financial Center alone would generate plenty of profit, but if they want to use me as the face of the Lujiazui Financial and Trade Zone development project, that alone won't be enough.'
Since Vice Chairman Hu Jintao intended to make use of him, Seok-won also planned to secure benefits worthy of the arrangement.
After appearing deep in thought for quite some time, Seok-won finally raised his head, met the gaze of Vice Chairman Hu Jintao—who had been quietly waiting for his answer—and began to speak.
"Although the specific details will need further discussion, since you have personally made this request, Vice Chairman, and considering the great potential for future development, I will take on the project and construct the building."
By accepting the request in a way that preserved Vice Chairman Hu Jintao's dignity—as though he were doing him a special favor—Hu Jintao's face lit up with delight.
"Thank you very much."
"However, since it will require investing a considerable sum, I do have some conditions."
"Of course. Not only will we ensure you can obtain construction financing through Chinese banks at very low interest rates, but we will also provide whatever convenience you need. Just say the word."
Seok-won did not lack money, but if they were willing to proactively offer construction loans at cheap interest rates, there was no reason at all to refuse.
Suppressing the corner of his mouth that threatened to curl upward in satisfaction, Seok-won spoke.
"Thank you for offering such strong support. However, there is something else I would like to request besides that."
"What might that be?"
"Are you familiar with a company called Guizhou Moutai Distillery Group?"
At that, Vice Chairman Hu Jintao showed a puzzled expression.
"If you mean Moutai Distillery, are you referring to the liquor company that produces Moutai, the top-grade baijiu?"
"That's correct."
"But why bring them up…?"
The sudden mention of a traditional Chinese liquor company made Vice Chairman Hu Jintao tilt his head in confusion.
"I'd like to invest in that company. Would you be able to help with that?"
"By investment, do you mean you want to purchase shares?"
"That's right. It's listed on the Shanghai Stock Exchange, but foreign investment has been restricted, so I haven't had the opportunity. Since I happen to have the chance to meet you like this, Vice Chairman, I thought I would make the request."
"That's unexpected. Why would you be interested in a liquor company—especially one that produces traditional Chinese spirits?"
Vice Chairman Hu Jintao narrowed his eyes slightly as he asked, probing.
But Seok-won calmly accepted the question with a composed smile.
"In truth, I have a great interest in traditional Chinese culture. For quite some time now, I've had a hobby of collecting and drinking aged Pu'er tea and premium baijiu."
"Oh? Is that so?"
When a world-renowned investor like Seok-won expressed interest in traditional Chinese culture, Vice Chairman Hu Jintao relaxed his guard slightly.
"As a result, my attention naturally turned to companies that produce top-grade baijiu. And since that happened, I began to think that it would be even better if I could invest directly and help produce baijiu of even higher quality—something that could truly succeed on the global stage."
Naturally, he left out the part about how the company's stock price would skyrocket in the future, eventually making it the most valuable company in China.
As Seok-won skillfully filled the conversation with praise for China, Vice Chairman Hu Jintao's face brightened with a wide smile.
"Hahaha! I had no idea Chairman Park held such great interest and affection for our Chinese baijiu. I had been wondering how I should repay you for such a precious gift, but this works out perfectly. I will make a special arrangement to allow you to invest in Moutai Distillery."
It was known as China's imperial liquor, and Seok-won was well aware that its stock price would surge to unbelievable levels—eventually surpassing the market capitalization of other major beverage companies such as Diageo and AB InBev, as well as giants like Coca-Cola and Toyota.
However, because there had been no way to invest in the state-owned Guizhou Moutai Distillery Group, he had only been able to watch from the sidelines until now.
Now that the opportunity had finally arrived to get a piece of it, Seok-won struggled to suppress the cheer that threatened to burst out from within.
'If I remember correctly, Guizhou Moutai's market capitalization reached 335 billion dollars in 2020.'
Considering that it was currently trading on the Shanghai stock market with a market capitalization of only about 900 million dollars, it was practically the same as picking up a massive lump of gold lying unnoticed on the ground.
"I hope I haven't made an unreasonable request."
At that, Vice Chairman Hu Jintao burst into hearty laughter.
"No, not at all. On the contrary, if someone like Chairman Park invests, it could serve as an opportunity to elevate the status of traditional Chinese baijiu. Looking at the bigger picture, wouldn't that be a benefit?"
"I'm glad you see it that way."
At that moment, Vice Chairman Hu Jintao had no idea just how dramatically the value of the Guizhou Moutai shares he had so casually granted would soar in the future.