Episode 85: Titanium Dioxide
So, time passed, and it was June 1977.
Kyungwoon Daily
[Heatwave and Tropical Nights Continue, 16 Days of Heatwave, New Record Set]
- Due to abnormal weather conditions, the entire country is experiencing consecutive days of extreme heat, with heatwave days surpassing two weeks. Please be cautious as tropical nights are continuously occurring, especially in Seoul, Gyeonggi-do, Gangwon-do, Jeolla-do, and Gyeongsangnam-do.
“Ah, it’s hot, so hot. Why is it this hot?”
Buzz, buzz… The sound of cicadas echoed in the ears. It was so hot that standing still made one sweat, yet Lee Chang-jin did not stop his work, even in sauna-like weather.
“Pay particular attention to connecting the drainage pipes so that water doesn’t overflow onto the forest path, and make sure to adjust the gradient angle correctly during leveling work.”
“Yes, understood.”
The most important task on the forest path was none other than drainage management. If water were to accumulate on the forest path, it could cause ground subsidence and landslides, among other accidents.
To ensure smooth drainage, the slope had to be directed towards the mountainside, or the cross-section had to be rounded for maintenance and management.
After hours of grader work since dawn, the exhausted Site Manager Seo grumbled quietly.
“Hey, seriously, let’s take a break.”
“We can’t. We need to hurry to meet the schedule. Even if we can’t finish the paving, at least we need to reinforce the road surface and complete the drainage facilities before the rainy season. Let’s hang in there a little longer.”
This task was the final step of connecting the forest path to the national road. As the boss sweated profusely and led by example, the other employees couldn’t afford to slack off or complain.
With nothing more to say, Site Manager Seo sought out Manager Goo.
“Hey, aren’t you tired?”
“Of course, I’m tired. But it’s bearable.”
Site Manager Seo shook his head in disbelief.
“Stubborn guy… How can you be so stubborn? If Korea is like this, how will you work in places like the Middle East?”
“I heard that the Middle East isn’t as humid as Korea, so it’s actually cooler. If it’s too much, we can sleep in tents during the day and work at night.”
“You talk as if you’ve been there. It’s easier said than done.”
As Site Manager Seo grumbled, Lee Chang-jin laughed and spoke.
“Don’t worry. People can adapt when they have to. You’ll get used to it quickly.”
“President Lee, it’s past lunchtime. Aren’t you hungry? Working since morning on an empty stomach is tough.”
A growling stomach indicated hunger. Lee Chang-jin was no different.
At that moment, a loud sound of a frying pan clattering was heard.
“Alright, lunch is ready. Everyone, please come in!”
Secretary Ye Jin-joo brought in the lunch truck. The prepared meal was Samgyetang (ginseng chicken soup), made by stuffing a young chicken with glutinous rice, jujube, pumpkin seeds, garlic, ginseng, and simmering it over a gentle flame.
Lee Chang-jin marveled at the appetizing spread.
“Wow, this is a feast!”
“What’s the occasion? Manager Ye went all out with her skills…”
Recently promoted again, Ye Jin-joo replied shyly.
“With the President working so hard, how could I just play around? I prepared Samgyetang to help you recover. Everyone, please enjoy your meal and work hard.”
“Thank you so much. We’ll feast well.”
Everyone was grateful for Ye Jin-joo’s thoughtful gesture.
However, Site Manager Seo continued to grumble.
“Why eat something hot in this heat? Is there no cold noodles?”
“Do you want to get sick again like last time? Just eat it quietly, Site Manager Seo.”
“What, what did you say?”
“Stop complaining and eat quietly, Site Manager.”
Ye Jin-joo tore a chicken apart and placed it on the table.
President Lee Chang-jin received the chicken first.
As Lee Chang-jin took the first bite, Ye Jin-joo asked worriedly.
“How is it? Is the seasoning alright? I haven’t made it in a while, so I’m not sure if it suits your taste…”
“Hmm, it’s delicious. The flavor is great.”
“You cooked it well, Manager Ye. You’ll do well for your future husband.”
Starting with Lee Chang-jin, the employees, including Hong In-young, praised the dish.
The chicken was tender without any gamey smell, and there was a subtle herbal aroma.
Even those without an appetite felt their appetites revived.
Ye Jin-joo couldn’t hide her pleased expression at the sincere compliments.
“Oh, it’s nothing.”
Though shy, Ye Jin-joo was clearly delighted. Before long, Site Manager Seo, who had emptied his bowl in no time, banged his spoon on the bowl and shouted.
“Manager Ye, give me some more.”
“Ha, didn’t you say you wanted cold noodles earlier? There’s nothing more for you, Site Manager Seo.”
Site Manager Seo retorted in disbelief at Ye Jin-joo’s curt response.
“What, how can you say there’s none left with so much remaining?”
“Since I cooked it, it’s up to me. Oh, Manager Goo Chang-dong, would you like some more?”
“Ah, yes. Is that alright?”
As Goo Chang-dong nodded without hesitation, Ye Jin-joo quickly took out a chicken and served it to him.
“Here you go. There’s plenty, so eat as much as you want.”
Watching enviously, Site Manager Seo grumbled.
“Geez, don’t you know to respect elders? Young folks have it good. How can an old widower live with such resentment?”
Goo Chang-dong paused briefly, but Ye Jin-joo wasn’t fazed at all.
Instead, she replied sharply.
“Site Manager Seo, just mix some rice with the leftover broth. We have plenty of steamed rice left. Considering your age, porridge might be better for digestion than chicken.”
Site Manager Seo, even more irritated, retorted.
“What, are you mocking me? Fine! I won’t eat anymore!”
“Well, if you’re not going to eat, don’t. Why are you throwing a fit?”
As they bickered, Goo Chang-dong, caught in the middle, looked awkward.
At that moment, the walkie-talkie rang inside the tent, like a savior.
“Uh, there’s a call.”
“Oh, why is someone calling during lunch? Tell them to call back later.”
As the grumpy Site Manager Seo grumbled, Manager Goo quickly stood up.
Seeing this, Ye Jin-joo hurriedly stopped him.
“Please continue eating. I’ll go check.”
While Ye Jin-joo went inside the tent to check the call, Site Manager Seo stealthily approached the steamer.
Peeking inside, he clicked his tongue.
“Geez, there’s so much left. Why be stingy?”
Site Manager Seo, after checking his surroundings, swiftly grabbed a large chicken leg and put it on his plate.
Soon after, Ye Jin-joo reentered the tent. Though Site Manager Seo quickly returned to his seat, Ye Jin-joo’s attention was already elsewhere.
“President, we’ve received a call from Manager Jung Ho-sung.”
“What’s the matter?”
“DuPont has expressed their willingness to supply titanium dioxide to Daese Trading.”
“Oh! Is that true?”
Lee Chang-jin’s weary face lit up with joy.
What refreshing news to forget the heat.
Importing natural dyes had no significant competitors other than Taeyang Trading, but as Lee Chang-jin began to reap considerable profits from natural dyes, other brokers started to jump in.
‘The period to dominate the natural dye market will be at most three years. I need to find other items within that time.’
From the start, Lee Chang-jin had his eye on the chemical dye market rather than the natural one. However, the existing chemical companies’ cartel was too strong.
Therefore, the dye sales department shifted focus to finding a primary supply source for chemical dyes.
Lee Chang-jin’s target was titanium dioxide (TiO₂). Titanium dioxide is a white pigment used for gloss and opacity, found in paints, plastics, cosmetics, toothpaste, and even ice cream.
Particularly, the rutile form of titanium dioxide, known for its excellent light resistance, was essential in oil-based paints, which accounted for one-sixth of the paint market.
However, in Korea, only Taeyang Chemical produced titanium dioxide.
In fact, only a few companies worldwide held licenses related to TiO₂, such as DuPont, Kerr-McGee, and Millennium. There had been attempts to introduce it in Korea after the 1980s, but stricter environmental regulations made domestic titanium dioxide plant establishment nearly impossible.
Taeyang Chemical, established in the 1960s, had maintained a monopoly in this field for over a decade for this very reason.
In 1977, the annual domestic demand was about 70,000 tons, with 20,000 tons of anatase type and 50,000 tons of the higher-value rutile type, with demand continuously increasing.
The domestic production couldn’t keep up with the growing demand. Despite this, DuPont, the leader in this field, was already dealing with prominent agents in Japan and Hong Kong, showing little interest in the Korean market.
In reality, despite Lee Chang-jin’s persistent efforts for a year, DuPont kept giving mechanical responses.
‘Our company does not handle small-scale transactions without official buyers. If you wish to trade, please contact our designated regional buyer.’
Yet, Lee Chang-jin was persistent.
Luck favors those who help themselves. An opportunity arose by chance.
DuPont and Millennium Chemicals, major producers of titanium dioxide, were participating in a public tender for chemical products organized by the Korean government.
Lee Chang-jin sent marketing information to DuPont daily starting 20 days before the tender began. Although he knew DuPont had no import quotas allocated for Daese Trading, he aimed to establish credibility through this public tender.
Lee Chang-jin’s efforts paid off.
Impressed by his proactive attitude, DuPont showed goodwill towards Daese Trading.
The 2,000 tons to be supplied this time symbolized that goodwill.
In terms of money, it amounted to only a few tens of thousands of dollars, not a substantial sum, and wouldn’t bring significant profit. However, breaking into the first supplier was very encouraging.
As the first domestic trader to break through the cartel-heavy environment and secure a successful order from the majors, Lee Chang-jin naturally praised Jung Ho-sung.
“This is good news. You’ve worked hard.”
“This is just the beginning. There’s a public tender for chemical products organized by the government soon. We should aim for that. Oh, and a DuPont representative is visiting in ten days. I’ve arranged a business meeting.”
“Well done. Manager Jung, you’ll come to the meeting with me. Oh, and how’s the molybdenum? Have you found a place to export it?”
“I’m looking into sales channels in Western Europe. Demand is highest there, and the prices are better than in the US. We need to discuss the annual production amount and the per-ton price.”
“Got it. Look into the details if there are good terms. Ah, find steady export destinations rather than short-term ones. We can gradually increase production after securing a stable buyer.”
Mine development required significant upfront investment. If liquidity issues arose, there were limited ways to recover the investment.
Therefore, Lee Chang-jin planned to maintain the trade line for now and gradually increase mining volume when export prices rose.
“Manager Jung, you’ve worked hard. I trust you.”
“President Lee, don’t just give me words. Reinforce the workforce. I’m really struggling here.”
Jung Ho-sung, with dark circles under his eyes, complained.
In a business dealing with tight schedules, you couldn’t just hire novices.
More than new recruits for administrative support, experienced individuals with independent judgment and intuition were needed.
“Haha, understood. We are hiring, so be patient and wait a bit.”
Lee Chang-jin also realized the need for manpower as the company continued to expand. However, the overseas department required high-level skills and experience from the start.
Moreover, hiring brokers often led to them running away with the items, so careful selection was essential from the beginning.
After much thought, Lee Chang-jin suddenly remembered Park Seung-hoon.
‘Oh, right. There’s Seung-hoon hyung.’
Had he forgotten due to being too busy after the kerosene deal?
Realizing it belatedly, Lee Chang-jin called Incheon Customs.
“Hello, this is Incheon Logistics Center.”
“Is this Taejin Trading’s petroleum agency? Could you connect me to Manager Park Seung-hoon? It’s urgent.”
“Ah, one moment.”
After some searching sounds, the operator spoke apologetically.
“Sorry, but it seems difficult to connect you. He transferred to the head office three months ago and recently took early retirement.”
“What? What do you mean?”
It turned out Park Seung-hoon had retired and opened a small restaurant near Mapo.
After some inquiries, Lee Chang-jin found the alley where Park Seung-hoon had opened his business.
- Continued in Episode 86 -
