The next day, Master Cha visited the fund again.
“Master Cha, what brings you here?”
“Can I see those lists again?”
“Of course, but…?”
“Let take a look.”
That entire day, Master Cha settled in at the fund and ticulously combed through the lists.
“Ah, would you like a cup of tea?”
“Oh! Yes, please give a cup.”
This wasn’t happening just in Naju. Across Joseon, those who had decided to invest would co to the fund daily, take a seat, and pore over the lists.
This was not only to grow their wealth but also beca a new form of entertainnt that satisfied their vanity.
“Why should I dean myself with lowly comrce? For soone in my position, it’s more fitting to invest.”
Sitting in the situation room, reading information sheets about newly starting businesses, enjoying the attentive service of fund employees bringing tea and snacks – this beca their daily routine.
As more people started camping out like this, funds across Joseon had to print large quantities of 5-day, 10-day, and monthly reports. And the situation rooms of the funds beca social gathering places for local dignitaries.
This wasn’t limited to n. Due to the strict separation of sexes, won gathered at nearby tea houses, and people would shuttle between the situation room and the tea houses every 30 minutes to relay information.
The won who gathered at these tea houses soon ford small communities called “tea etings.” Of course, rankings were established within based on asset size, but they were still communities of won from families considered local dignitaries. Tea etings, which sprang up at least one per tea house near the fund, soon began to engage in subtle competition with each other.
For won from families with slightly less economic power, these tea etings beca sothing they desperately wanted to join.
However, even the won who entered these tea etings weren’t fully satisfied. Their ultimate goal was to enter tea etings in larger cities, and ultimately, the famous tea etings in Hanseong, Gaeseong, and Dongnae.
Even the smallest tea etings in these three cities were dealing with more capital than the largest tea etings in most provincial cities.
And among these three cities, the one that could be called the best was, of course, Hanseong.
Hanseong was able to surpass Gaeseong, which had accumulated comrcial experience through a long history symbolized by the Song rchants, and Dongnae, which had accumulated capital through the Japanese trading post, because of “Area 51.”
It had the advantage of being able to see new artifacts and technologies created in Area 51 before anyone else. Being able to gauge whether these would go to the royal workshop or be released to the private sector was an absolute strength.
***
The formation of these tea etings, allowing won to engage in public activities, beca possible when won were able to enter official positions.
With Neo-Confucianism as the state ideology, Joseon strictly applied the law of separation between n and won.
This strict application began to loosen slightly when won started to beco teachers at the public schools.
Of course, there was initially so criticism. However, since most of the female teachers at the public schools were those who had received national comndations for being filial daughters-in-law or devoted wives, such criticism beca re criticism for the sake of criticism.
Moreover, since they didn’t leave the school from the start of classes in the morning until they ended at dusk, there was no room for fault-finding.
And as won formally entered official positions, it beca possible for won to move about freely in broad daylight.
Depending on the departnt, they had to work outside, and there was simply not enough manpower to keep won indoors just because they were won.
“I’ve finally gotten an official position, and you want to just stay inside? And who’s going to do my work while I’m in there? Are you telling not to go ho?”
“And if only female officials are allowed to move around in broad daylight, wouldn’t that cause even more gossip?”
For these practical reasons, the law of separation was avoided when it ca to movent. Thanks to this, won, regardless of status, were able to move about freely.
Another positive change occurred as won entered official positions.
The practice of “myeonshinrye” (a hazing ritual for new officials) completely disappeared.
This wasn’t just about new officials treating their seniors to a al as a gesture of goodwill; it involved all sorts of bizarre harassnt.
Since it was officially recorded during the reign of King Woo of Goryeo, there had been continuous attempts to eradicate this bad practice of myeonshinrye. Furthermore, King Sejong would imdiately banish those caught to the archives, but the practice stubbornly persisted.
However, doing such things to won would no longer be simple harassnt, but a cri. With more than 70% of the newly appointed female officials being daughters of noble families, doing such things would make one a serious criminal.
Thanks to this, myeonshinrye disappeared.
***
‘Gather small amounts of money to create large capital.’
‘Split large sums to invest in many.’
After so ti, the fund’s operational thods began to show positive results.
Those who had failed the Business Evaluation Departnt prepared more thoroughly to seize this second chance.
As preparations beca more thorough, the success rate of startups gradually increased. As people succeeded in starting businesses and growing their wealth, more people began to prepare for startups, following their example.
As this happened, Joseon’s previously passive society gradually beca more active.
Local gentry also began to change little by little. While so still relied solely on their land holdings, others began to actively move their wealth as they beca aware of the concept of “capital investnt.”
Those who had tasted success through investnt began to dive more actively into the financial market. As investnt through the ‘Venture Capital Fund’ was limited, they began to look for new investnt opportunities.
And as these capital holders began to move actively, existing rchant groups also started to change.
They began to grow the size of their rchant groups by receiving external capital infusions.
***
The ‘Park Family rchant Group’ in Jemulpo.
“Hmm… At this rate, our profits will keep decreasing…”
The heads of various departnts, chief clerks, and ship captains nodded at the assessnt of Park Sang-wook, the head of the rchant group and chief manager.
“The Shandong route is too competitive.”
“It’s not just the Shandong route. The Tsushima and Kyushu routes are just as competitive.”
Listening to the words of the captains and departnt heads, Park Sang-wook’s expression worsened.
“The conclusion is, as always, that we need to go further…”
“The Ryukyu Kingdom is the most feasible option.”
“The problem is that the Honam rchants have already established trade relations there.”
“I hear that competition is fierce even among the Honam rchants because the Ryukyu Kingdom is small.”
After considering various rumors and facts in search of a breakthrough, they finally reached one conclusion.
“So you’re saying we need to go even further.”
“That’s right. We need to go at least as far as Siam, Dai Viet, or Malacca.”
“The further we go, the bigger the profits. We should go as far as India.”
When one of the captains ntioned India, ridicule erupted from those around.
“Why stop there? Why don’t we go all the way to Alexandria? Isn’t Alexandria where we can make the most profit?”
“You need to say sothing that makes sense…”
At the criticism from those around, the captain who first raised the suggestion shouted angrily.
“Why doesn’t it make sense!”
“We need ships to go there. Ships!”
“To go that far, we need large ships like the navy uses! Even the largest ship our rchant group has now is like a rowboat compared to the navy’s large ships!”
The captain who first spoke didn’t back down from the subsequent rebuttals.
“If the ships are small, can’t we just build bigger ones?”
“Where are we going to get such big ships built? Only the governnt can do that! Are you going to go to the governnt and throw a tantrum asking them to build us ships?”
“Why can’t we? Didn’t we have the example of rickshaws?”
“Are you comparing rickshaws to ships?”
“What’s the difference!”
“Talk sense!”
As voices rose among the people, Park Sang-wook shouted.
“Quiet! Quiet!”
At Park Sang-wook’s shout, the loud voices subsided. As the commotion died down, Park Sang-wook spoke.
“It seems we’ll have to go to Hanseong. Let’s send a ssage to the Ministry of Finance.”
At Park Sang-wook’s words, the departnt heads looked at him with surprised faces.
“Surely you’re not going to buy a large ship?”
“Aren’t we in a tight spot anyway? We should try everything we can.”
“That’s true…”
As the departnt heads acquiesced, Park Sang-wook added.
“But before we go, we should check everything we can in advance. Find as many ways as possible to bring down the price.”
***
A month later, Park Sang-wook visited the Ministry of Finance building in Hanseong.
“This is the fifth visit…”
Park Sang-wook’s quietly muttered words were full of desperation.
As he said, this was his fifth visit to the Ministry of Finance.
“This is beyond my level of authority. I’ll send word, so could you co back in a few days?”
With such words, Park Sang-wook had to keep visiting the Ministry of Finance. And each ti he returned, he had to talk with soone higher up.
“Again, at my level…”
“Hmm… I’ve reviewed it, but it’s difficult for to decide…”
“There’s a lot of talk, so it’s been decided to make the decision at a higher level. Co back when you’re called.”
“Follow .”
Guided by an official, Park Sang-wook arrived at Kim Jeom’s office.
***
Upon seeing Kim Jeom’s face, Park Sang-wook bowed at a 90-degree angle in greeting.
“I pay my respects to you, Your Excellency. I am Park, who runs the Park Family rchant Group.”
“Sit there.”
“Thank you.”
Kim Jeom, who had offered a seat, sat opposite Park Sang-wook and opened the relevant report.
“Hmm… Let’s see…”
After examining the report, Kim Jeom asked Park Sang-wook a question.
“So… You want to acquire a large ship used by the navy?”
“Yes.”
“Why a large ship?”
To Kim Jeom’s question, Park Sang-wook explained the reasons in detail.
After listening to Park Sang-wook’s explanation, Kim Jeom soon checked the contents of several types of reports and nodded.
“Hmm… I see… Then, what the rchant group leader wants is a challenger-class warship.”
“By challenger-class large ship, do you an the largest warship?”
“That’s right.”
“Yes, that would be the best.”
At Park Sang-wook’s answer, Kim Jeom imdiately got to the point.
“Do you know how much it costs to build one of those ships?”
“I’ve heard rumors that it costs 100,000 nyang of gold…”
“These days, it’s 68,000 nyang of gold. The production cost has decreased a bit as we’ve been able to secure large quantities of quality timber. With the cannons added, it’s about 110,000 nyang. Can you manage that?”
“110,000…”
“And that’s in gold.”
At Kim Jeom’s words, Park Sang-wook continued with a pale face.
“What our rchant group wants is not a warship, but a rchant ship. We don’t need to carry cannons. Please remove that part.”
“How will you ensure safety without armants?”
“We can move along with the regular service to Alexandria.”
“You an to tag along? Hmm…”
As Kim Jeom trailed off, Park Sang-wook spoke more earnestly.
“What I want is a rchant ship. A ship that benefits from carrying more cargo in place of cannons. Of course, it may not look good to tag along with the navy, but as a rchant seeking profit, we have no choice.”
“I understand, but His Majesty won’t easily allow that.”
“Then please allow us to carry a minimum amount, and have the navy be in charge of operating the cannons. Isn’t it already the law that only soldiers can handle cannons?”
“That’s a good idea!”
Kim Jeom showed a positive reaction to Park Sang-wook’s proposal.
After writing sothing on a piece of paper next to him, Kim Jeom said to Park Sang-wook.
“I’ll contact you again soon. I’ll do my best to get a good answer.”
At Kim Jeom’s words, Park Sang-wook stood up abruptly and bowed.
“I am truly grateful!”
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