Episode 3: Business Plan
This might be quite an unfamiliar area for the general public, but the precision machinery industry, particularly the machine tool industry, is known as the “Mother Machine” business, one of the core sectors of the industry.
It’s the foundational strength of the industry, akin to light and salt.
That’s why Lee Chang-jin thought.
“If a steel mill is completed domestically, it will become possible to procure steel locally. Then, the creation of a national investment fund will only be a matter of time.”
With the launch of the Changwon Industrial Complex, the government is set to actively promote heavy and chemical industry policies.
The national investment fund created at this time is a financial source established to nurture the heavy and chemical industries.
It can be said that it is a fund created to provide low-interest loans to businesses.
Through this fund, when there is a shortage of funds for expansion or export, one can borrow a large amount of money without cumbersome financial arrangements.
“If I receive nurturing funds, rapid growth will be possible even with little capital.”
But the biggest problem was the price of the equipment.
It was common for machine equipment to cost hundreds of thousands of won, and even second-hand ones were much more than a million won.
In Korea, a developing country, machine equipment could not be produced, so most of the volume relied on imports.
“Even if I receive my severance pay right now, it will barely be around 1.5 million won. That wouldn’t even cover the cost of a lathe or milling machine.”
It’s not just machines that are needed to start a company.
A factory site and warehouse to place the equipment, electricity, and water bills.
And the labor costs for hiring employees.
To endure until revenue is generated, at least tens of millions of won would be needed.
The problem was where to get that capital. Investing in stocks or land was an option, but it took a long time, and with insufficient capital, it was difficult to see significant returns.
While thinking about methods, it was already time to leave work.
Even on his way back, Lee Chang-jin was still engrossed in the same thoughts.
As he walked towards the boarding house, he ran into someone coming down the stairs.
“Oh my, Chang-jin! What brings you home at this hour?”
Looking up, it was none other than the landlady.
She waved her hand with a pleased expression, holding a black plastic bag.
“Is something going on? You got off work early today?”
“Ah, tomorrow is the company’s founding anniversary, so they told us to go home early and get some rest.”
“Wasn’t it a holiday just recently? Do you still get paid properly if you rest today?”
“Of course.”
The landlady exclaimed with envy.
“Wow, foreign companies are really nice. Good salary and good vacations. When will my daughter grow up and start earning her share?”
“Ah, she’ll be a sophomore in high school soon, right?”
“Yes, I wish she could be just half as good as you, Chang-jin. Share some of your good energy.”
“Haha. Your daughter is very smart, so I’m sure she will do well.”
“I hope so, but it’s a shame I can’t afford to get her a tutor…”
“She’s doing well enough. But where are you headed? You seem all geared up.”
At Lee Chang-jin’s question, she grumbled.
“Ah, I’m on my way to buy some kerosene. This stove is so inefficient. The boiler barely runs, but it guzzles kerosene. I wonder how frustrating it will be in winter.”
“Should I take a look? I’m pretty good with machines.”
“No, I just had a mechanic check it a while ago. He said it’s because it’s old. I can’t trouble someone who just got off work. Go in and rest since you got home early.”
“Yes. Well then, take care.”
Trudging back to his room in the boarding house, Lee Chang-jin set down his briefcase and suddenly remembered what he had said earlier.
“Oh, how stupid of me! Why didn’t I think of that until now?”
That’s right. The first oil shock.
The fourth Middle East war is imminent.
It’s the time when the era of major oil companies ends, and OPEC is established.
The surge in oil prices is a foregone conclusion.
Land has low liquidity, but the oil business is different.
Buy in bulk and sell when the market price rises.
“Yes. I can make a profit by buying oil and selling it at a higher price…”
No need for complicated timing calculations, and it’s a relatively easy method to implement.
If purchased in cash, there would be fewer taxes to pay.
Lee Chang-jin immediately sprang into action.
Early the next day, he arrived at his main bank, Shinil Bank.
However… his high expectations were crushed when he checked the loanable amount.
“What? Only 2 million won?”
“Sorry, sir, but this is the maximum we can offer.”
“But this is too little…”
“Sorry, it’s the company policy… Other banks will likely be in a similar situation.”
The bank clerk’s face showed clear regret.
Lee Chang-jin was perplexed.
In an era when the average salary for college graduates was 80,000 to 90,000 won, 2 million won was not a small amount of money.
But it was too little to start a business.
He thought about reaching out to friends or relatives, but everyone’s financial situation was similar.
As he was about to pull out a cigarette in frustration, a flyer on a telephone pole caught his eye.
-Daehung Trading-
Do you need urgent cash?
Jeonse loans, unsecured
We lend large sums.
Call now.
02-XXX-XXXX
At that moment… a person came to mind.
The cash king, Jin Tae-chun.
A financial mogul known for making even giant corporate chairmen stand while taking his calls.
Wasn’t Daehung Trading the name of the company owned by Jin Tae-chun?
Yes, a chicken instead of a pheasant.
Without hesitation, Lee Chang-jin headed to a public phone booth and dialed the number.
Ring… ring…
After a few rings, a young female voice answered.
“Hello, this is Daehung Trading. Are you calling about a loan?”
“Yes. I need urgent cash. Can I get a consultation?”
The next day. Myeong-dong.
“This place is bustling no matter where you look.”
Lee Chang-jin looked around.
Women in jeans and mini skirts were striding confidently.
Considering the current trends, it was a shocking sight.
Indeed, Myeong-dong, the number one fashion street in Korea. A place that led the trends.
But in reality, Myeong-dong was more famous among those dealing with money for its hidden side.
A world where billions moved behind the scenes.
A place known as the habitat of the so-called “big hands” and the birthplace of black money.
Central Street in Myeong-dong was where promissory note discounters operated in groups.
If daily lending was like neighborhood soccer, what the big hands in Myeong-dong did was like the Premier League.
The Namdaemun Bear, who pocketed 500 billion won in land compensation.
The Old Lady of Wonju, who amassed imperishable wealth in the black market dollar trade.
Many legends of big hands came and went, but among them, the pinnacle was Jin Tae-chun, the cash king.
And today… was the first meeting with Daehung Trading, Jin Tae-chun’s company.
A meeting with someone he had no connection with in his past life.
Lee Chang-jin headed to none other than a coffee shop.
A small café next to the Royal Hotel, near the Sejong Hotel.
A glance inside revealed an LP record playing,
A waitress with dyed blonde hair chewing gum at the counter.
Adjusting his suit, Lee Chang-jin opened the door.
Ding-dong.
The sound of the bell drew the waitress’s attention.
It took her one second to size him up from head to toe.
Swallowing the gum she was chewing, the waitress asked nonchalantly.
“Hello. Do you have a prior appointment?”
“Yes. I’m here to see a representative from Daehung Trading.”
“Yes… Please wait a moment.”
After surveying the café, the waitress approached a young woman sitting by the window.
A moment later, the waitress returned and whispered to Lee Chang-jin.
“Over there, that’s her.”
Lee Chang-jin took out 100 won from his pocket and handed it as a tip.
The waitress bowed her head in thanks.
Guided by the waitress, Lee Chang-jin approached the woman sitting by the window.
The woman holding a coffee cup was beautiful.
Her appearance, as if she could be a model for a notebook cover, and her quiet contemplation of the scenery outside, was like a painting.
Noticing Lee Chang-jin, she stood up and bowed her head.
“Hello. Are you the client who inquired about the loan?”
“Yes, that’s right.”
“Nice to meet you. Please have a seat.”
The woman offered a seat. Seated opposite her, Lee Chang-jin first handed over his business card.
“I’m Lee Chang-jin. I work as a manager at Mannheim.”
“I’m Jin Seon-ah from Daehung Trading. My position is supervisor. Just call me Supervisor Jin.”
“Yes. Supervisor Jin, nice to meet you.”
For someone visiting the private loan market for the first time, it might seem strange for a woman to appear suddenly.
But Lee Chang-jin was different. With enough experience to guess someone’s job by the thickness of their fingers or calluses, he immediately identified her.
‘This woman is a head.’
A “head” refers to a person in a loan shark organization who acts as a steward.
In simple terms, she’s the hands and feet of the financier. With enough years of experience, a head manages several financiers backing the loan sharks and sometimes directly consults with clients.
While men usually handled collections, borrowers generally felt more comfortable dealing with women.
But what was surprising was her age.
‘If she’s involved in this, she must have been in this field for at least five years…’
It’s unlikely they would assign someone inexperienced to handle money, and maybe she was Jin Tae-chun’s daughter.
Lee Chang-jin scrutinized her subtly, trying to guess her background.
Her urban beauty seemed straight out of a movie.
So striking that one might believe she was a current model or top-tier celebrity.
Noticing his gaze, Jin Seon-ah smiled and asked.
“Why are you staring so intently?”
“Oh, excuse me… It’s just that you seem too beautiful for this line of work.”
Jin Seon-ah smiled again at his honest answer.
“I’ll take that as a compliment. How about a cup of tea before we start?”
“Yes. Do you have any recommendations? It’s my first time here…”
“Ah, this café is better known for its tea than its coffee.”
Lee Chang-jin looked at the menu and placed his order.
“I’ll have a cup of Ssanghwa tea, please.”
He paused briefly, gathering his composure. Was it because he was in front of a beautiful woman?
For some reason, his nervousness wouldn’t easily subside.
A moment later, the waitress returned with Ssanghwa tea with floating egg yolk and a cup of black tea.
Steam was rising from the Ssanghwa tea, emitting a rich herbal aroma.
Lee Chang-jin blew on the tea to cool it down and carefully took a sip.
‘This taste is nostalgic…’
Jin Seon-ah watched with curiosity as Lee Chang-jin enjoyed the tea.
Perhaps intrigued by his conventional taste in contrast to his sophisticated appearance.
After a moment, Jin Seon-ah took a sip of her black tea.
After savoring the aroma, Jin Seon-ah gently set down her teacup.
“Mannheim, huh. You work for a good company. But why would you come to us? You could get a good loan from a bank.”
“Ah, I’ve already been to the bank. But the amount was much less than what I needed.”
Jin Seon-ah tilted her head and asked.
“Hmm… If you don’t mind me asking, did you co-sign for someone? Or do you have a family issue?”
“Haha. No, it’s not that. I just… plan to start a business.”
Now, it’s time to get to the point.
The eyes of the two people met in the air.
- To be continued in Episode 4 -
