Episode 5: Fuel Purchase
Before Gangnam was developed, Yeongdeungpo was the center of Seoul.
A bus passing through Ahyeon-dong downtown entered Munrae-dong.
From inside the vehicle, Lee Chang-jin could see the Munrae overpass.
Munrae-dong is a neighborhood that developed when factories were established during the mid-Japanese occupation period, and its name originated from “mulre,” which means a spinning wheel.
Since the 1960s, Cheonggyecheon ironworks moved here, and the place became filled with various metal workshops and hardware stores.
‘It’s been quite a while. I wonder how my uncle is doing?’
Lee Chang-jin fiddled with a plastic bag containing meat. He was heading to Munrae-dong to meet Kim Cheol-ho, a workshop owner and a close relative.
Kim Cheol-ho was a well-known figure in the area and had extensive connections.
After getting off at the bus stop, Lee Chang-jin headed into a narrow alley crowded with ironworks under the overpass. The maze-like alleyways were noisy with flashing red sparks and sharp cutting sounds.
After winding through the narrow alley for about five minutes, he saw an old signboard that read “Cheol-ho Stainless.” Lee Chang-jin opened the workshop door.
A hot wave and a pungent metallic smell greeted him.
Following that, the buzzing sound of machines.
A middle-aged man in worn-out overalls was working there.
He was focused on welding, with blue sparks flying everywhere.
It was none other than Kim Cheol-ho.
So engrossed in his work, he didn’t notice Lee Chang-jin’s arrival.
Lee Chang-jin, not wanting to interrupt, quietly leaned against the door and held his breath.
About ten minutes later, Kim Cheol-ho, seemingly thirsty, stopped working to look for a drink.
With his welding mask half-lifted, he fumbled around, and Lee Chang-jin quickly handed him a water bottle.
“Oh, thanks…”
Kim Cheol-ho, very thirsty, gulped down the water without even turning his head.
After quenching his thirst, he sensed something unusual and turned to the side.
Only then did he get startled, and Lee Chang-jin grinned.
“You noticed quickly, uncle.”
Kim Cheol-ho took off his welding mask and smiled warmly.
“Goodness, I thought it was my wife… When did you come in so quietly, Chang-jin?”
“Just now. Uncle, what were you doing?”
“Oh, this? Just fixing a roasted sweet potato machine. Winter is coming, so there are a lot of orders. But why are you here during the day? You should be at the office at this time.”
Lee Chang-jin smiled awkwardly at Kim Cheol-ho’s question.
“Oh, I took a leave.”
“Leave? You, who never take a break, took a leave?”
“I’m thinking of starting a business.”
“What are you talking about out of the blue? Starting a business all of a sudden.”
Facing each other with a chair in between, Lee Chang-jin explained the situation.
Kim Cheol-ho, listening seriously, soon crossed his arms and fell into thought.
“You’re not jumping in without a plan. So, what do you need?”
“I’m looking to purchase some heating oil. I was wondering if you could introduce me to any suppliers you know.”
“Hmm… I know some wholesalers around here. But if you want to buy in bulk, it’s better to contact Incheon. It’s the cheapest there.”
“Why is that?”
“First, there’s no additional logistics cost. Most fuel is stored in bonded warehouses and delivered when needed. They adjust the quantity from there.”
Typically, the sale of petroleum products follows a three-step route: Refinery → Agent → Gas Station → Final Consumer. To exclude middlemen, buying directly from the source is the best option.
Kim Cheol-ho whispered as if he had an idea.
“Oh, if possible, try to buy tax-free fuel. Farmers are allocated tax-free fuel, so it’s cheaper. You can use your parents’ or relatives’ names since they all farm. If you feel uneasy, you can use that as an excuse to ask for a discount. Everyone does it, and if you report it, they’ll be in trouble too. Just a hint, and they’ll sell it cheaper.”
“Oh, that’s a good tip. Thank you.”
For Lee Chang-jin, who was unfamiliar with fuel, this was very useful information. After calling large fuel agencies near Incheon port, he found out that someone he knew from college, Taejin Trading, in Baekseok-dong, Seogu, was in charge of fuel management.
‘A college friend? Who could it be?’
Although he couldn’t pinpoint the identity, Lee Chang-jin decided to visit. In Korean society, there’s no easier way to make connections than through personal networks. Arriving at the fuel storage warehouse, he soon saw someone directing unloading work in front of the facility and couldn’t help but feel delighted.
“Seung-hoon hyung?”
“Oh, Chang-jin. What brings you here?”
The person was a college friend he hung out with before enlisting.
Park Seung-hoon, who was three years older and took four years to graduate.
Lee Chang-jin hugged him and asked about his well-being.
“Seung-hoon hyung! How long has it been?”
“Hey, isn’t it Chang-jin? It’s been a while. You’ve become a working man too.”
“You too. You look much healthier than before.”
Unlike his college days when he was skinny as a rake, he had gained noticeable weight.
Maybe because he was financially better off, his expression was much brighter.
After exchanging stories for a while, Park Seung-hoon smiled warmly.
“Wow, Mannheim? That’s a good company… But what brings you to a place like this?”
“Ah, hyung… I was out on a business trip and stopped by. How’s your wife?”
“So-so. She’s five months pregnant now, so she’s feeling heavy. It’s actually our fifth child.”
“Wow, so you already have four kids? You two must get along very well.”
Come to think of it, he got married because of a premarital pregnancy.
Old memories came flooding back.
As Lee Chang-jin expressed his admiration, Park Seung-hoon scratched his head, feeling embarrassed.
“Haha. Raising kids is no joke… Are you married? If not, you should hurry up. It’s exhausting to raise kids when you’re older.”
“Haha, I need to find someone first. I’m not seeing anyone yet.”
“No way, you’re popular, Chang-jin. Aren’t your standards too high?”
“Haha. Maybe.”
As they chatted affectionately, Lee Chang-jin glanced at his watch and brought up a suggestion.
“Hyung, it’s almost quitting time, right? How about some grilled pork belly and soju? My treat this time.”
Surprised by the unexpected offer, he lit up.
“Oh, stingy Chang-jin is treating? I can’t miss such a rare opportunity. Can I pick the place?”
“Sure, but hurry up and change your clothes.”
“Okay, wait a bit. I’ll be quick.”
A little later, they took a taxi to the traditional market at the coastal pier.
Arriving at the fish market in Soraepogu, the bustling market scene showed vendors in rubber gloves.
“Pick, pick! Fresh live fish for just 100 won!”
Passing through the bustling market, they entered an area where pubs and barbecue joints were tightly packed like shantytowns, with the savory smell of grilling meat wafting through the air.
The place they went to was a barbecue restaurant named ‘Osamtong,’ a nostalgic spot they frequented during their university days. The inside of the restaurant was already buzzing with people drinking.
“Wow, this place is still doing well.”
“Yeah… Brings back memories.”
One side of the old wallpaper was blackened, and the chairs were all worn out.
Avoiding the smoke rising from the charcoal, Lee Chang-jin looked at the menu and placed an order.
“Auntie, four servings of salt-grilled pork belly and a bottle of soju, please.”
“Yes! Coming right up!”
Soon, a tray stacked with appetizing raw meat was brought out.
Sizzle~!
The sound that made one’s mouth water.
The thickly cut pork belly cubes gave off a savory smell.
“Come on, let’s drink!”
While exchanging drinks, Park Seung-hoon got tipsy first.
As they reminisced about their university days and carefree youth, the conversation ran dry, and Lee Chang-jin brought up the real reason for his visit.
“How are things these days? Are you doing well?”
“Don’t even ask. It’s hard to meet targets. The pressure from above is no joke.”
Listening to Park Seung-hoon’s complaints, Lee Chang-jin sensed the struggles of a working man.
Seeing Park Seung-hoon desperate for results, Lee Chang-jin thought he could communicate well.
“Then, shall I help you a bit?”
“How can you? Do you have money?”
“Huh, what do you take me for? I know some big players. I could introduce them to you… Actually, our company is also thinking of buying some heating kerosene.”
Intrigued, Park Seung-hoon showed interest.
“Really? How much do you plan to buy?”
“Around 20 million won worth. Is that possible?”
“That much?”
Surprised by the unexpectedly large amount, Park Seung-hoon asked again, seemingly sobered up.
“Yes, can you secure the quantity immediately? It needs to be prepared within a few days.”
“Well, it’s difficult with promissory notes, but if you pay in cash. But why do you need so much kerosene?”
“Ah, it’s not just for this year. I thought it’d be better to buy a lot while it’s cheap… Who knows how much the oil price will rise later?”
Lee Chang-jin said nonchalantly. Actually, if he bought 20 million won worth of kerosene under his name, it could raise suspicions of hoarding, so he made up a story.
Faced with the unexpected offer, Park Seung-hoon quickly calculated.
If it’s Mannheim, it’s a well-known engineering company.
It might not be impossible to handle that quantity.
Without a hint of suspicion, Park Seung-hoon asked.
“Alright. So, when will you pay?”
“The sooner, the better. But since I’m paying in cash, you have to give me a discount. At least 500 won per barrel.”
“Hey. What are you saying? How can I discount that much?”
Lee Chang-jin firmly responded.
“What do you mean? You have tax-free fuel stock. I’ve checked everything. Oh, and take only a 3% commission.”
At this, Park Seung-hoon made a grimace. For a salesperson like him, the commission was his lifeline.
“You robber. How do you expect me to survive?”
“Well, then I’ll have to give this to someone else.”
Park Seung-hoon, who tried to play hard to get, was startled by Lee Chang-jin’s firm stance.
“Isn’t that too much? Aren’t we friends? You should at least pay the proper commission.”
“Huh, this is business. No matter how close we are, money matters should be clear. Isn’t it customary to discount for cash payments considering the bank interest?”
Usually, when purchasing such a large amount, it’s common to use a promissory note with a maturity of 3 to 6 months. Paying in cash and discounting the bank interest for 3 to 6 months in advance was the norm.
Left with no words, Park Seung-hoon tried to persuade him.
“Alright. I’ll discount the price. But, keep the commission at 4%. I can’t go lower.”
“Deal. Let’s do that. But no backing out. I’ll send the order by tomorrow morning.”
“Got it, you rascal. Thanks for the sale anyway.”
“Likewise.”
Unaware of anything, Park Seung-hoon took the bait.
The next day, when the invoice papers arrived, Lee Chang-jin went to check the additional quantity.
After cross-checking the purchase amount and quantity, Lee Chang-jin inspected the bonded warehouse.
“Hyung, is this warehouse well-protected against fire?”
“This is a harbor area. Don’t you know it’s a first-class security facility? It’s practically a quasi-strategic facility, so don’t worry. Not even an ant can get in.”
“That’s good. Hyung, here’s a tip for you.”
Lee Chang-jin handed him 50,000 won. Surprised by the unexpected bonus, Park Seung-hoon’s eyes widened.
He took the money in a daze and asked, bewildered.
“What’s this? Are you just giving it to me?”
“Hyung, use it to play the good husband for once. Buy some fruit for your wife.”
“Oh, you rascal. Giving the disease and the cure. I’ll gratefully accept it.”
Rubbing his nose, Park Seung-hoon chuckled as he counted the money.
Seeing him happy, Lee Chang-jin also laughed inwardly.
‘I should be thanking you, hyung. For giving me this opportunity…’
Having stocked up the goods made him feel at ease.
Now, all he had to do was wait.
- To be continued in Episode 6 -
