How should I proceed with acquiring the KEPCO site?
Although it's a public enterprise, KEPCO's scale rivals that of Samsung Electronics, so moving it would require an enormous amount of groundwork.
Such groundwork was impossible to conduct within Korea.
For the first ti in a long while, I boarded a flight bound for Russia.
Upon arrival, more than ten security vehicles were waiting at the airport.
"The governor is waiting for you."
"I didn't expect you to take such care."
Following the bodyguards' lead, I left the airport.
After about two hours of travel, I arrived at an enormous mansion.
The owner of this palace-sized estate, rivaling that of a Saudi prince, was Roman, the Russian oil magnate I had befriended since Putin's inauguration.
"Kim! It's been so long. Why haven't you visited Russia more often? You should co more
frequently."
"I apologize. I've been so busy I couldn't find the ti. I'll try to visit more often from now on."
"I hear about you all over the place. You know your influence is spreading worldwide, right? I've been boasting about our friendship to benefit from your na."
Roman teased playfully.
Although my prominence had increased since the joint speech with Steve, I was still nowhere
near Roman's level.
Especially since last year, Roman's fa had skyrocketed.
"I've also been hearing news about you from several sources. I heard you acquired an EPL club last year? I'm really jealous."
"Why don't you buy one too? Soone like you could definitely buy and manage a team. I want to see our teams compete in the EPL soon."
Roman's face lit up with excitent.
He must have been thrilled to have finally acquired the EPL team he'd dread of.
Taewoo Group also ran a professional soccer team in Korea, but it couldn't compare to the EPL.
"If the opportunity arises, I definitely want to try it soday. Oh, there's a Saudi royal who wants to buy an EPL team."
"Soone close to you?"
"Practically like a brother."
"That's great! I hope the day cos when we can see whose team is stronger in the EPL."
We spent over an hour bonding over football.
Only then did I subtly bring up the topic I really wanted to discuss.
"Korea and Russia should strengthen their cooperation in the energy sector, don't you think?"
"A committee has been ford for a few years now to discuss strengthening cooperation, but
with the economy so difficult, nothing has really co of it."
"It's a tough situation. Still, for the developnt of both our countries, we need to fasten the first button quickly."
"There's no one to act as a diator, so things are dragging. How about you take on that diator role? You're the only Korean the Russian governnt trusts and relies on. Besides, you lead the largest group in Korea."
Roman was basically saying exactly what I wanted to hear.
He was a businessman and politician favored by Putin, so talking with him ant talking with the Russian governnt as well.
"I'm always ready to help wherever I can."
"The president will be very pleased."
"Oh! By the way, did you decide to run again as governor of the Chukotka region?"
"Ah, don't even ntion it. I want to quit, but the president asked to serve one more term, so how can I refuse? I'm already busy with my businesses, and now I have to be governor again."
That ant Putin trusted Roman deeply.
Though the Far East was a backward region, the governor position was still in charge of an entire area.
Such a position wouldn't be offered to soone untrusted.
"That's actually good news. While you are governor, how about collaborating on energy resource developnt in the Far East with Korea? I'll act as the bridge in the middle."
"Is that possible? If Korea says they'll cooperate, we'd have no reason to refuse."
"It would be a mutually beneficial project. Of course, it would have to be under the premise that the resource developnt can proceed stably."
"We can guarantee that. There are more than ten oil fields buried in the Far East, and over fifteen gas fields. The problem is, no one's developing them. If soone offers to develop, we wouldn't hesitate at all."
This is why territory matters.
Korea produces not a single drop of oil, but Russia has oil fields left undeveloped.
"If we develop the oil fields, it would be worth over 100 billion dollars."
"We haven't precisely asured the reserves yet, but it could be more than 500 billion dollars, not just 100 billion. If only we can develop them properly."
Five hundred billion dollars is over 600 trillion won.
A project of that scale would easily justify acquiring the KEPCO site worth about 5 trillion won.
For the 5 trillion won KEPCO land, we just created a 600 trillion won project.
I returned to Korea.
I went straight to see my grandfather and reported what had happened in Russia.
"So you created a 600 trillion won project just to buy the KEPCO site?"
"It's also a very good project for energy cooperation between Russia and Korea."
"But just because you created a 600 trillion won project, do you think KEPCO will just hand over the land?"
"I plan to create a situation where they have no choice but to give it up. For example, if this
project succeeds and Russian energy companies need a foothold in Korea, KEPCO would be forced to provide the land."
The big plan was already set.
It would be no problem to get the KEPCO site once the details were finalized.
The only remaining issue was timing. My grandfather pointed that out clearly.
"If you move according to your plan, it might work. But you have to coordinate etings
between the Korean and Russian governnts. Governnts are slow — I don't know if it'll take only one or two years."
"If Russia takes the lead, the Korean governnt will have to respond actively. The Russian state energy companies are scheduled to visit Korea as early as this month."
"You're very capable. Hmm, now that you might get the KEPCO land, why don't you give up on the Charlotte Group's land?"
Suddenly, my grandfather changed the subject.
He might be satisfied with just the KEPCO site, but I was not.
It was my grandfather who ignited my greed, so he had to take responsibility too.
"Of course, we have to get the Charlotte Group's land as well. It's necessary to have two options in hand for governnt negotiations. Whichever land gets approval first, we can think about the other afterward."
"That would be the best-case scenario. But I worry you're getting too involved in the Charlotte Group's affairs. Especially if you get entangled in their managent dispute, it won't end well."
"We're just acting as brokers. Whether it's the eldest son or the younger son, as long as we help put the chairman's preferred successor in place, that's enough. There's nothing to get blad for."
"Alright. Do as you please. It was my fault for bringing up the new headquarters. Chairman Jin wants to see you today. He said he wants to et just the two of you, without ."
I had waited a long ti.
I thought he would ask to et imdiately tomorrow, but there had been no contact from
Chairman Jin even while I was in Russia.
"I can't keep the elder waiting. I'll head out right now."
"Don't be too rude."
"I'll treat him like I treat you, Grandfather."
"Don't do that! When have you ever shown respect?"
Feeling a bit embarrassed, I scratched my head and then headed out to et Chairman Jin.
A restaurant located in Cheongdam-dong.
The sa place as before, the sa food, and the sa people.
But the atmosphere was completely different.
Unlike the warm and friendly eting last ti, Chairman Jin was very stiff and tense.
"You don't look well."
"I haven't been sleeping well these days because of you. It's because of what you said — that Charlotte Group is turning into a ss like Hyundai Group!"
The first-generation chaebol chairn truly built their empires from scratch.
Although most inherited significant wealth, they grew what they inherited thousands or tens of thousands of tis into huge conglorates.
They devoted their entire lives to build these corporations.
But like everything else, building up takes ti and effort, while tearing down can happen in an instant.
Even Taewoo Group, which seed unshakable, was torn apart by a managent dispute.
So it was only natural that Chairman Jin stayed up all night worrying.
"I only intended to ease your worries, Chairman, but it seems I caused you more trouble. I'm
sorry."
"How can I bla you? It's my fault for being too complacent. I saw clearly what happened to Hyundai Group after Chairman Jang died, yet I failed to prepare any asures."
Worry is like a swamp.
Once you fall into it, you sink deeper and deeper.
Chairman Jin seed to have imagined Charlotte Group being torn apart like Hyundai Group after he's gone.
"It's not too late. You're still healthy; you can hold the center of Charlotte Group for more than ten years."
"That sounds like you're telling to retire in ten years."
"If it sounded like that, I apologize."
"No need to apologize. It's a blessing to think this old man can still run the company for ten more years. Now tell in detail how you plan to help."
Finally, the big fish started nibbling at the bait.
To make him bite the hook, I needed a very sweet lure.
"I can help ensure that whoever you want becos chairman in a stable manner."
"Then tell how."
"The chairman's position ultimately needs to be backed by strong managent skills. Together with Taewoo Group, we can build a solid track record."
"So Taewoo Group will handle risk managent?"
"Yes. This will also significantly boost Charlotte Group's sales."
"Does this include the duty-free business too?"
"The Arnault family's brands will be the first to be introduced."
I kept leveraging the na of the Arnault family.
There was a possibility the Arnault family might oppose it, but that was a problem to deal with
later.
"What else can you do? Don't you think you're still lacking to secure such pri real estate?"
"I can help with overseas market expansion."
"Our overseas market is basically limited to China. So you an you'll help us enter the Chinese market?"
"I know Charlotte Group has already entered the Chinese market. But I can assist and consult so that more projects can enter stably and securely."
"That sounds good. Anything else?"
Are all conglorate heads like this?
Chairman Jin was as greedy as my grandfather.
"When I say help with China market entry, I an I will mobilize all the connections Taewoo
Group and I have. You know how important guanxi is in China. If Charlotte Group can truly
penetrate the Chinese market, the gains could be tens of tis more than what the Charlotte
Group land is worth."
"So you won't offer anything more? Kim has really trained you well. If you'd offered more, I
might have doubted your true intentions."
Doubting my intentions? No way.
I just felt I was asking too much and was trying to turn the conversation around as if I was only testing him.
"So, will you accept the proposal?"
"Today, let's just make a preliminary agreent. If Taewoo Group keeps its promises, then I'll sign the real contract."
"To keep the promise, you have to tell who you've already decided will be your successor."
"My second son. Help him out."
The mont the successor of Charlotte Group was decided.
Chairman Jin chose his younger son, Vice Chairman Jin Dong-gu, over the eldest.
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