Episode 129: The Second Oil Shock
But there was no need to mention such stories. Lee Chang-jin pretended not to know and said,
“Let’s stop talking about politics. Discussing the current situation doesn’t solve anything. More importantly, Manager Yeo, how is the search for the horticulture and landscaping experts I mentioned last time?”
“We immediately posted job advertisements in the newspaper and have been looking into it. We’re checking experts who graduated from horticulture departments, but many seem reluctant because the workplace is on a remote island.”
“Then double the salary. What greater motivation is there than money? Ah, how is the Bupyeong Escom City project? I mean the titanium dioxide factory.”
“Oh, that’s almost complete, and we’ve started the surrounding cleanup work.”
“Is there any difficulty in the final demolition work?”
“No. Deputy Manager Kwak Do-hyun is in charge of that. He’s sharp and quick to learn, making the process smooth. At this rate, we should be able to start operations by early next month.”
Deputy Manager Kwak Do-hyun is a drilling expert who previously worked at Samcheon Industries. After completing an agricultural well project in Saudi Arabia, he returned to Korea and became a full-time employee.
“That’s good news. Don’t throw away any intact H-beams or used panels during the demolition work; secure them. Also, contact Siksin Industries again to arrange for the collection of scrap wires.”
“Yes, understood.”
“And what else does the agricultural association need?”
“Demand for slaughter chickens has greatly increased, so there’s a need to build additional large cold storage to keep the chickens fresh.”
“We should discuss that separately with Piquere. They specialize in cold storage, don’t they?”
French company Piquere, which built a relationship with Lee Chang-jin through the vacuum dryer business, was very interested in entering the Korean market.
Since Lee Chang-jin had recently succeeded in the franchise business and Piquere had repeatedly expressed their willingness to do business, they would likely welcome such a proposal.
In addition, Lee Chang-jin received reports on the sales of molybdenum, dyes, Italian towels, and vacuum dryers being exported to Japan.
Even though he had only taken a few days off, the piled-up work was overwhelming.
Around noon, Lee Chang-sik came in and politely whispered,
“President, a guest has arrived.”
“Who is it? Did I have a separate schedule today?”
Curious, Lee Chang-jin went outside and saw a familiar face.
His eyes widened at the sight of the person wearing a shiny badge.
“Well, Congressman Kim, what brings you here?”
“It’s been a while. It’s been over a year, I think.”
The person who suddenly appeared was Kim Hak-ki, the governor who had worked together during the Iri explosion incident.
Recognized for his efforts, Kim Hak-ki had recently been elected as a ruling party candidate for the National Assembly by an overwhelming margin.
The opposition had put forward a heavyweight candidate instead of former Congressman Park Man-je, but Park Man-je’s independent candidacy split the vote, leading to a crushing defeat.
Meeting an old comrade, Congressman Kim smiled and said,
“I had some business to discuss with the government, so I came to Seoul. I thought of you while I was at the National Assembly. It’s already this late; have you had lunch yet?”
It seemed like Kim had something he wanted to discuss with Lee Chang-jin.
Perceptive, Lee Chang-jin immediately responded,
“Not yet. I was just about to go, so this is perfect. There’s a famous pollack grill place and a pufferfish stew place nearby. Do you have a preference?”
“Shall we go to the pufferfish stew place? I’m craving that.”
“Then let me take you there, Governor.”
Lee Chang-jin took him to a place called ‘Jukwon Bokjip’ near Seodaemun-gu.
This restaurant, specializing in pufferfish dishes for over 30 years, was a regular spot for Lee Chang-jin because of its clean taste and comforting meals.
As they entered the tidy interior, the owner, wearing a triangular headscarf, came out and greeted them politely.
“Ah, Mr. Lee, you’re here again.”
“Yes. How’s the food today?”
“Of course, it’s always prepared with fresh ingredients. I even prepared a table just in case you came.”
Lee Chang-jin and Congressman Kim were immediately guided to a private room.
The cozy room had a folding screen with a picture of four noble plants and soft cushions neatly arranged.
“Do you have a specific menu in mind?”
“Well, I’m new here. Since you come often, I’ll trust your choice.”
“The special set menu here is great.”
“Then, two special set menus, please.”
After ordering, fresh sea squirt and jellyfish salad served with crunchy cucumbers came out as appetizers. The fresh sea flavor combined well with the crisp cucumber, stimulating their appetites.
As they were finishing their plates, grilled mackerel garnished with lemon, fried pufferfish skin, and udon in a rich soy-based broth were served.
Savoring the chewy pufferfish skin, the governor seemed to crave some alcohol and smacked his lips.
“This is perfect for drinking… Shall we have a drink?”
“Sure. Let me pour you a glass.”
As Congressman Kim poured a drink, he offered a customary congratulatory remark.
“I’ve heard that your business is doing very well these days. Your franchise business is also growing significantly. It seems your business has taken off.”
“Thank you. It’s all thanks to your help, Congressman. And the National Assembly badge suits you well.”
Despite Lee Chang-jin’s flattering words, Congressman Kim Hak-ki didn’t look particularly happy.
Taking a few more sips, he spoke in a self-deprecating tone.
“Ha, it may look grand, but as a freshman, I have no real power. After being there for about a month, I’ve come to understand how things work. Freshmen are just there to raise their hands. If you don’t follow the party line, you get knocked down. There’s nothing I can do on my own. I think I preferred being a governor.”
“Cheer up. It’s just that you’re not used to it yet; things will get better with time. Haven’t you made some friendly connections with other congressmen? And is there anything personally troubling you?”
“What’s the point of talking about it? Honestly, I’ve had a lot of family troubles lately. Since entering the National Assembly, my wife has been acting as if she’s had a status upgrade, which is embarrassing. She’s been spending money frivolously, which is a problem. Take my advice sincerely: be cautious when you get married. If you mess around, you could end up like me, stuck with a problem.”
It was a poignant piece of advice from Kim Hak-ki, who had married due to a one-night stand.
“Ha ha, I’ll keep that in mind.”
“But is there some way to get some activity funds other than the salary? Without money, it’s hard to move around, and maintaining dignity also costs money.”
Entering the National Assembly, Kim Hak-ki found himself worried about various things. With more aides and dependents than when he was a governor, he felt the pinch of having less discretionary funds.
As a governor, he could use his salary as needed, and people in need would come to him, so there was no extra effort required. But being a congressman wasn’t just about doing legislative work well.
Moreover, it wasn’t easy for a freshman congressman from a rural background to raise campaign funds.
Lee Chang-jin subtly suggested to the troubled Congressman Kim,
“If you need activity funds that badly, how about publishing an autobiography?”
“An autobiography?”
“Yes, hold a publication ceremony. You have a good story, don’t you? You could write about the recovery process from the Iri explosion.”
“It sounds plausible, but I’m not sure if I can do it since I’m not good at writing.”
“Why think of it as difficult? Find a novelist you know, provide them with the materials, and have them write it down based on your dictation. Print about 10,000 copies to start.”
“Come on, who would buy a book written by someone who isn’t even a writer?”
“Leave the sales to me. Don’t worry about it. If necessary, there are always wealthy patrons. Do you know Jo Moon-gwang? He’s the fifth son of the Mirae Group and has a keen interest in politics. Knowing him could be beneficial.”
Congressman Kim Hak-ki, now looking hopeful, asked worriedly,
“Then I would be immensely grateful. But I don’t have any connection to him; meeting him without any reason seems awkward, doesn’t it?”
“Don’t worry. We can create a connection. If you attend the titanium dioxide factory opening ceremony, I’ll arrange a meeting. Can’t you grace the event with your presence?”
“If you call, of course, I’ll attend. When is it?”
“Ten days from now. I would appreciate it if you could attend and honor the event.”
“Of course. I’ll attend no matter what.”
Having secured Congressman Kim Hak-ki’s promise to attend, Lee Chang-jin also made calls to influential figures across the country. It was a move to grease the wheels before the chemical plant’s launch.
A few days later, on February 6, 1979, at Bupyeong Escom City.
[Congratulations on the Launch of the New Titanium Dioxide Plant!]
Clap clap clap!!
With a huge banner hanging, the opening ceremony was being held. The long-awaited titanium dioxide plant was finally completed.
The newly constructed Daese Chemical Plant covered an area of 9,900㎡, consisting of two production buildings and a total of five buildings, including dormitories for employees.
It had the capacity to produce up to 150 tons of titanium dioxide per day.
At the ceremony venue, Congressman Kim Hak-ki, Executive Jo Moon-gwang, and other influential figures from the Bupyeong area were in attendance.
Additionally, Kim Jung-oh, Vice Chairman of Cheongwoo Group, and Chief Won Jong-pyo sent wreaths.
Existing Mannheim colleagues, including Jung Pil-joo, Incheon City officials, and Shinil Bank Branch Manager Lee Myung-chun were also present.
Even Eom Gi-jun, who had been promoted to Executive Director of Anyang Steel Power Plant, visited the venue.
With a simple refreshment prepared, Eom Gi-jun made a joke,
“Mr. Lee, congratulations. Now you can truly be called a group. Ah, should I call you Chairman instead of President now?”
“Ha ha, thank you, Executive Director. I heard you’re soon to be promoted to Senior Executive Director. Congratulations on your promotion.”
“Promotion? It’s just more hard work. Since becoming an executive, I haven’t been home before midnight. Look at these wrinkles. Can you see how much I’ve aged?”
Lee Chang-jin laughed at Eom Gi-jun’s comment about his wrinkles.
“Ha ha, it’s natural for people to get wrinkles as they age. How are things at Anyang Steel these days? Is there any impact from the Iran crisis?”
“The cost of raw materials has gone up a lot. The new steel mill construction is in its final stages, but this crisis had to happen now, doubling the trouble. At least, thanks to the completion of the Wolsong nuclear power plant last year, there’s no power shortage.”
“That’s a relief. Have you heard anything from the higher-ups?”
“I don’t know. The government seems to be taking the Iran crisis very seriously. Since it’s a regime change, they can’t just ignore it. They’re predicting a second oil shock. The Economic Planning Board officials are very tense. It looks like the construction of the second steel mill will be delayed due to the Middle East situation. Although the geological survey by an external contractor is complete, and the site selection for Garolim Bay is finalized, the Ministry of Construction is opposed. They say the civil engineering costs are too high, so the final site selection has gone back to square one.”
“That’s quite troublesome.”
Agreeing with Lee Chang-jin’s sentiment, Eom Gi-jun spoke again.
“This is just a rumor, but it seems the Korean government is planning a big deal with Saudi Arabia soon. They’re pushing a large-scale national construction project in Saudi Arabia. They’re considering exempting the classification for Korean construction companies as a pilot project. They’re thinking of signing a memorandum of understanding (MOU) for 10,000 households as a trial. It should be decided by March.”
“That’s good news. So they’re planning to form a consortium centered around the Korea Housing Corporation for the bid? The key is to get included in the consortium.”
“Lee, you’re really sharp. You understand everything with just one clue. If there’s a request from the higher-ups, accept any government-issued projects even if they don’t seem profitable. It’s better to secure a few more domestic projects. Those who are compliant with the government are more likely to receive preferential treatment. Well, it seems you’re maintaining good connections with the political circles.”
Eom Gi-jun glanced sideways, and saw Congressman Kim chatting amicably with Jo Moon-gwang. Congressman Kim nodded while raising his glass, and Lee Chang-jin responded with a nod of his own.
Lee Chang-jin thanked Eom Gi-jun.
“Thank you, senior. That’s really useful information.”
“Just words? If you’re really grateful, allocate some molybdenum to us in Anyang. If you hog such a precious resource during tough times, you’ll get punished. We need to help each other out.”
Although he spoke softly, Lee Chang-jin had already understood his intentions. Eom Gi-jun’s words essentially reflected the intentions of President Yoo Joon-tae. Hearing this, Lee Chang-jin readily agreed.
“Ha ha, of course. We’re not strangers. I’ll definitely help.”
“You promised. Also, take care of your personal security. You heard the news, right? Chairman Shim of Yasan Group was almost kidnapped. They even impersonated a Blue House secretary. You’re a well-known figure now, so it’s a good idea to hire security personnel.”
“Thank you for your concern. I’ll keep that in mind.”
Just then, smoke began to rise from the chimney.
The scheduled operations had begun.
- To be continued in Episode 130 -
