Episode 66: Natural Dyes
At the same time, Taeyang Group Headquarters, 30th Floor
A spacious office of about 20 pyeong (approximately 66 square meters),
On the corner of an antique oak desk, there was an impressive Latin engraving of Marx’s quote, “Money rules mankind and mankind worships money.”
In front of the spacious desk was a nameplate that read “Head of Strategic Planning, Nam Tae-kyung.”
Sitting in a swivel chair and looking out the window, Nam Tae-kyung spun the globe on the desk.
Feeling bored, Nam Tae-kyung tapped the desk and then sat on the sofa. Just then, there was a knock on the door.
“Come in.”
At Nam Tae-kyung’s gesture, Yoo Byung-woo, the executive in charge of the strategy department, entered and bowed as he approached the sofa.
Nam Tae-kyung, who was leaning back on the sofa and deep in thought, crossed his legs and asked somewhat arrogantly.
“Did you find out? Any special issues?”
“I’ve included the trends of other industries in the weekly business report. It’s a bit special; it’s a report on Daese Group.”
“Get to the point.”
“Yes, they acquired a building in Seongsu-dong through an auction and established a trading company. It was originally owned by Taebang Textiles, but they bought it at a bargain price. The company is called Daese Trading.”
“Trading?”
“Yes, they have already completed the establishment report and registration. They’ve also newly recruited personnel, and Jung Ho-sung from Mirae Group’s PE department has taken the position of department head.”
“Oh, not bad. So, they’re using the money they earned from machinery to venture into trading?”
“Yes, that’s correct.”
Nam Tae-kyung smiled as if he found it interesting.
“Interesting, trading, huh? Just a year or two ago, they started with a small factory in Mapo, and now they’re moving into trading? They must be pretty competent. Have you identified the specific products or categories they’re handling?”
“It’s not clear yet, but it seems they’re focusing on exports. However, since there are so many items in export, it’s too early to determine their main focus.”
Nam Tae-kyung spoke nonchalantly.
“No doubt, it must be machine parts or textiles, probably bath towels. Since they partnered with Clark, they might also try to export forklifts.”
“Since their main business is machinery factories, that’s a high possibility.”
“Alright, Director Yoo. But why does this bother me so much? What do you think? What could Daese Trading be planning by establishing a trading company?”
“Why should you be concerned? Our Taeyang Trading is already the top in the domestic trading sector, and in terms of scale, experience, and every aspect, they can’t even compare to us.”
“No, if that were the case, there would be no reason to make such a noisy advertisement. They could have just outsourced to Cheongwoo Trading without bothering to establish a separate company. Moreover, spending money on an inauguration ceremony clearly indicates another reason.”
“They are probably just showing off to the media, wanting to feel proud. In about a year, they’ll be struggling.”
At those words, Nam Tae-kyung made an uncomfortable expression.
“Director Yoo, aren’t you taking this too lightly? Considering how they took down Kim Taebang last time, Lee Chang-jin is no ordinary person. Even though Kim Taebang was a thug, he wasn’t an easy target. Someone who knows how to use the media wouldn’t start a business without any reason. Didn’t you get caught off guard before?”
Nam Tae-kyung was pointing out the time when Yoo Byung-woo signed the joint usage agreement for the pallet pool.
Embarrassed, Yoo Byung-woo scratched his head and made excuses.
“Why bring up the past? Anyway, the scale is different. Do you think they can dare to challenge our industry?”
“That’s something we don’t know. Reckless people often cause big problems. It’s painful to get hit when you’re just standing by.”
“Well, you have a point.”
After pondering for a while, Nam Tae-kyung raised his voice.
“I can’t let this go. Secretary Yoon!”
At his words, a man in a black suit waiting outside ran inside.
“Did you call, Director?”
“Find out exactly what Daese Trading is preparing. I don’t care how much money it takes; get the information properly.”
“Yes, understood.”
After Secretary Yoon bowed briefly and disappeared, Yoo Byung-woo asked curiously.
“What are you planning to do?”
“If you’ve been hit once, it’s only right to pay it back. Isn’t it boring if everything goes smoothly in the world? We’ve received one, so we should return it. Isn’t it the way of the world to repay in kind?”
“Ah, I see… As expected, your judgment is excellent.”
Nam Tae-kyung smiled slyly, and Yoo Byung-woo, realizing something, smiled along with him.
The laughter of the two men gradually filled the room.
The next day, at the office of the Yeongcheon factory in Seodaemun-gu, Lee Chang-jin was reviewing documents.
Lee Chang-jin was going over the regular report from Maljukgeori.
Recently, they had signed a contract with Nonghyup for the supply of broilers and eggs, and the agricultural cooperative was gearing up to make a profit. The number of broilers was nearing 10,000, and the number of laying hens was now approaching 7,000.
‘This is faster than I thought. Should I expand the chicken farm?’
There were also issues with the surrounding maintenance of the chicken coop and the lack of manpower for management. As the number of chickens being raised increased, the amount of feed needed also skyrocketed. Pondering, Lee Chang-jin spun a pen on the back of his hand.
Just then, there was a knock.
“Yes, come in.”
As Lee Chang-jin looked up from the documents, Jung Ho-sung, who had finished touring the factory, entered.
“Ah, you’re here? What do you think of our factory?”
“I like it a lot. The building is very clean, probably because it was remodeled. The employees are also full of energy. Especially Manager Goo, he has quite a grip.”
Lee Chang-jin chuckled at Jung Ho-sung’s gesture of rotating his wrist as if it was sore.
The strong handshake was a silent form of restraint. Goo Chang-dong, who graduated from a technical high school, was very sensitive to power dynamics. While he showed absolute loyalty to CEO Lee Chang-jin, he seemed to feel a sense of crisis in his position as the second-in-command due to the continuous recruitment of new talent.
Understanding the situation, Lee Chang-jin spoke nonchalantly.
“Manager Goo is quite powerful. But if you get to know him, he’s a very decent person. Even if it’s a bit awkward now, you’ll get along well after one company dinner.”
“That would be nice. Anyway, you’re the boss now, so I’ll take care of you, I mean, I’ll take care of you.”
“You can speak casually unless it’s an official business setting. By the way, did you find the list of natural dye suppliers?”
“There are four promising areas. India, Southeast Asia, Egypt, and Morocco. Historically famous for natural dye production. The best one would be India, but unfortunately, as you know, the British have a tight grip on it, so it’s not easy to access.”
Considering India’s past as a British colony, it’s understandable.
“Egypt and Morocco are too far, and considering logistics costs, Southeast Asia seems the most feasible.”
“Correct.”
“Southeast Asia is not a small place either. Where do you think is best?”
“Hmm… I recommend Malaysia.”
“Malaysia? Why?”
“They’re famous for Batik (a dyeing technique that uses wax as a resist). Moreover, they have a well-developed natural dye industry, so the chances of securing high-quality natural dye raw materials are high. However, the important thing is the marketability… I’m not sure how to locate the sources. We can’t just go there without a plan.”
Although they had roughly identified the types of dyes needed, the problem was still the suppliers.
But Lee Chang-jin had already thought of a solution.
“Don’t worry about that. We can check that through KOTRA.”
KOTRA is an organization under the Ministry of Commerce established for trade promotion and government-to-government export contracts. Lee Chang-jin had already contacted Kim Yoon-geun, a classmate from Korea University and a KOTRA resident in Malaysia.
“You’re looking for dye suppliers and need samples? That’s not difficult. Leave it to me.”
Kim Yoon-geun, who received Lee Chang-jin’s request, gladly made inquiries here and there to find the necessary information.
After inquiring about the price of raw materials with the same components as the dyes commonly used domestically, it was found that the price difference between domestic and import prices was over twenty times. In special cases, the difference between the cost price and the market price was as much as thirty times. Jung Ho-sung was shocked at the actual cost.
“This is crazy. Taeyang Group are complete thugs. I never imagined they were making this much profit.”
“I agree. I never thought the difference between import and domestic prices would be this big.”
Lee Chang-jin was astonished by the profit margin that exceeded his expectations. If they bought goods worth one million won from Malaysia, they could easily inflate it to twenty to thirty million won here.
The resulting profit margin was over ten times the net profit.
The demand was also not insignificant. While the demand for synthetic dyes was overwhelmingly high, natural dyes were consistently sold for a reason.
Above all, natural dyes were less irritating and more environmentally friendly than synthetic dyes.
Because of this, high-quality fabrics and expensive silk products preferred natural dyes.
When Lee Chang-jin inquired with textile companies about their intention to import, the domestic distribution volume amounted to at least 3 billion won.
Just acting as an import agent for the dyes would result in monthly earnings of tens of millions of won.
Excited by the findings, Jung Ho-sung hurried his movements.
“We have to do this no matter what. How should we proceed? Should I contact the suppliers through local people?”
“No. We should go in person. I’ve already booked the plane tickets.”
The departure visas were easier to obtain than expected. During an era when export and import were highly prioritized, the term “industrial use” was like a bible. Goo Chang-dong was also accompanying them as a bodyguard and porter. Since security in Malaysia was not as good as in Korea, they decided to take him for safety.
At Gimpo Airport, there were three men with suitcases. Having flown a few times before, Goo Chang-dong packed his luggage by himself. He even wore a floral shirt and a straw hat, looking like a tourist.
“Where did you get those?”
“Mi-jin always prepares them for trips. She said the UV rays in Southeast Asia are strong and it can tan your face.”
“It seems you’re still seeing her.”
“Yes, we’re seriously dating. Actually, it’s a bit early to say, but I’m also considering marriage.”
“Oh, really? It seems we’ll be eating wedding noodles soon. Can I congratulate you in advance?”
“Haha, please save that for later.”
Seeing his overly excited appearance, Jung Ho-sung gave a calm warning.
“Don’t get too carried away. We’re here for work, not a vacation.”
“Don’t worry. I’ll do my job properly.”
Despite his words, Jung Ho-sung, who hadn’t been on a plane for a long time, was just as excited. As soon as he boarded, he couldn’t help but glance at the stewardesses.
Before the travel liberalization in the 1980s, stewardesses were treated as professionals.
At that time, a third-year stewardess’s monthly salary was 190,000 won, a considerable amount of money, so their pride was high. Jung Ho-sung muttered to himself.
“Nowadays, do they hire based on looks? They’re all so pretty.”
“If you fancy one, why not try to woo her here?”
“Hey, that’s nonsense. With my status, no way.”
“Why not? What’s wrong with you? Besides being single, you’re fine. Healthy, good job, well, a bit of a wide forehead, but that’s all.”
“Hey, that’s genetic. What can I do about it?”
“Don’t worry. It’s all about capability for men. Hair is nothing.”
“That’s right. For men, it’s about vigor.”
“Exactly. In the past, in Europe, being bald was a symbol of intelligence for clergymen and scholars.”
“Hey! Stop it. Are you trying to kill me twice?”
Hearing Jung Ho-sung’s indignant protest, the people around chuckled. One of Jung Ho-sung’s complexes was his thinning hair. He had started losing hair in his early twenties, and it was impossible to hide his expansive forehead.
However, later on, thanks to that very head, he successfully married a world-renowned top model. Life is full of surprises. He fell in love with a British model while shooting a wig commercial.
The British model even had a thing for bald heads.
She found his head shape sexy, proving that everyone has a match.
Despite the minor incident, teasing Jung Ho-sung kept everyone entertained.
Upon arriving in Kuala Lumpur, Kim Yoon-geun, who had received the news, came to meet them at the Arrival gate.
- To be continued in Episode 67 -
