Episode 97: The Cash King Jin Tae-chun
“Importing over 30 items worth 200 million dollars within the year to reclaim increased currency.”
“Foreign currency loan limit increased to 700 million dollars.”
“TaeYang Electronics surpasses 3 million black and white TV units… Number one domestically, second in the world in annual production.”
As the noisy autumn passed and winter approached, Lee Chang-jin’s company was incredibly busy. The production of sculptures commissioned by Anyang Steel was in its final stages.
“Hey, move it a bit to the side… Raise the reflection angle a little.”
Creating the sculptures was similar to making statues.
First, you design, then create a mold, make a prototype out of clay, and sculpt the original form.
Once the sculpting is done, you layer fiberglass and resin, attach sand to the molding compound, dry it at room temperature to form the mold. Once the mold hardens, you pour a mixture of copper and nickel to start the casting process.
Connecting these parts one by one was the highlight of the task.
Goo Chang-dong, who had been welding non-stop, wiped his sweat and grumbled.
“Wouldn’t it be much easier to mold this out of marble or plastic? Making it out of solid metal is honestly too much.”
To Goo Chang-dong’s justified complaint, Lee Chang-jin shrugged.
“The client wants it this way, what can we do? Besides, placing a sculpture made of marble or plastic in the middle of a steel plant doesn’t quite fit.”
“Well, when you put it that way, I have nothing to say, but it’s still a hassle.”
Lee Chang-jin smiled faintly at Goo Chang-dong’s grumbling.
“Making money from others isn’t easy. More than that, thank you so much, Manager Goo. You staying back during such busy times is a tremendous help.”
“What are you saying? Don’t thank me; I’ll be taking double overtime pay.”
“Haha, I hope you do.”
Then, Manager Seo, who had come over, muttered from the side.
“Hey, are you really not taking a vacation? Why don’t you go on a trip before it gets busier? Wasn’t it Mijin? That assertive secretary, aren’t you involved with her?”
“Why bring up old stories? I broke up with her ages ago.”
“What? Why did you break up?”
“Well, her family didn’t seem to like me much. My academic background and family aren’t impressive… What could I do?”
Goo Chang-dong, who had turned his head back to focus on the installation, was acting unusually cheerful, indicating why he was engrossed in work despite giving up his vacation.
‘Finding out that the secretary was actually the daughter of Siksin Holdings must have been a shock.’
There seemed to be a significant gap between them. As Manager Yeo Jin-joo handed Goo Chang-dong a sweet citron tea, looking at him trying to hide his heartbreak.
“Why bring me this… Thank you, Manager Yeo.”
“It’s nothing. Drink something sweet and feel better.”
Manager Seo whistled at Yeo Jin-joo’s shy gesture of tucking her hair behind her ear.
“Hey, it’s a good time. Manager Yeo, if you’re interested, why not make a move? Manager Goo is single now. This is your chance.”
Everyone’s eyes turned to Yeo Jin-joo at Manager Seo’s mischievous joke.
Goo Chang-dong laughed heartily at the flustered Yeo Jin-joo.
“What are you talking about? Why would someone like Manager Yeo be interested in someone as unrefined as me? Don’t say such nonsense.”
At Goo Chang-dong’s somewhat self-deprecating response, Yeo Jin-joo became defensive.
“What do you mean, what’s wrong with Manager Goo? You have a decent job, can support a family, you’re diligent. I think that’s enough.”
“Eh? What do you mean by that…?”
“I, I don’t know. Anyway, cheer up!”
Realizing what she had said, Yeo Jin-joo blushed and slipped away.
Seeing this, Manager Seo gave Goo Chang-dong a meaningful pat on the shoulder.
“Something’s definitely up… Give it a try, Manager Goo.”
Lee Chang-jin silently laughed at Goo Chang-dong’s bemused expression.
In fact, Yeo Jin-joo had been kind to Goo Chang-dong for quite some time.
Lee Chang-jin wasn’t oblivious to the subtle tension between them.
As people’s attention was drawn, Lee Chang-jin deliberately diverted it.
“Alright, it looks like this task is almost done. How’s the lighting?”
“Almost done. The reflection angle seems about right.”
In exhibition sculptures, production wasn’t the only crucial factor. Since sculptures were made for display purposes, lighting had more than just a supplementary role. Lee Chang-jin adjusted the reflector to make the letters on the tower visible and create a dynamic atmosphere.
After several attempts, the appropriate lighting was completed, and the workers could finally put down their tools.
“Phew, finally done.”
Wiping their sweat, the employees looked at the nearly completed sculpture with satisfaction.
Goo Chang-dong asked Lee Chang-jin with a proud expression.
“Is this all done?”
“Almost. We just need to grind the rough edges with a grinder and sand it down. The rest can be finished on-site. Everyone, great job. Clean up and head home.”
“Yes, sir. Thank you, President.”
Taking off his gloves, Lee Chang-jin headed straight to the conference room.
Inside, Consultant Hong In-young and Yoon Jung-pil were already reviewing the presentation materials. As soon as Lee Chang-jin sat down, Yoon Jung-pil reported.
“This is the technical cooperation report with Japan’s Oriental Industries. We have drafted a plan for increasing molybdenum production for the first half of next year.”
Lee Chang-jin showed interest as he flipped through the documents.
“Oriental Industries of Japan, isn’t that the company famous for metal refining?”
“Yes. Currently, our molybdenum production efficiency isn’t very good. To improve the refining efficiency, we need to enhance the high-purity liquid ammonia processing and the phosphoric acid refining process. They asked if an inspection could be done by the end of the year before installing the equipment.”
“Hmm, good. Confirm the schedule and report back. By the first half of next year, we need to increase the molybdenum production yield to its limit and complete the refining process improvement. Oh, and how is the research on improving the industrial freezer heat pump structure going?”
“We are currently in the prototype production stage. There are still many shortcomings, so it’s not yet at the stage to discuss commercialization. Consultant Shin Dae-gil is working hard on producing the pump casing mold.”
“Understood. Please push the research team to ensure production by the first half of next year. Even if it’s late, we plan to sell domestically from the second half of next year, so please continue the efforts.”
“Yes, understood.”
After Manager Yoon’s report, Lee Chang-jin turned to Consultant Hong In-young and asked.
“Let’s see, Consultant Hong. How are things on the construction side? I heard the forest road construction is almost complete; are there any additional contracts?”
“Unfortunately, not yet… The domestic construction market is in such a slump that securing contracts is difficult.”
“Winning contracts in the domestic market through dumping won’t benefit us. Put domestic civil engineering contracts aside for now. We’ve built enough experience, so it’s time to eye an entry into the Middle East, like Chairman Joo of Mirae Group.”
As Lee Chang-jin said, 1977 was the year of Mirae Group. Chairman Joo Il-hwan of Mirae Group had secured numerous large-scale construction projects, starting with the Jubail project. There was even an amusing incident where Ulsan City was mistakenly referred to as Mirae City in France’s L’Express magazine, comparable to Time or Newsweek.
That year, Mirae Construction’s overseas contracts totaled a whopping 1.9 billion dollars. This amount was the fourth largest among construction companies worldwide.
Such success from Korean companies was a reaction to the telephone projects conducted by Saudi Arabia’s Ministry of Industrial and Electrical Power in regions like Asir, Jizan, and Al Harj. At the time, Saudi Arabia only invited advanced companies from the U.S., West Germany, Japan, and the U.K. to bid, trusting only their technology, but ended up being betrayed by collusion.
Feeling betrayed, the Saudi government sought alternatives, and the beneficiaries were Korean companies. Korean companies, known for their low costs and high efficiency, were perfect business partners for Saudi Arabia.
However, Consultant Hong In-young believed that it was still somewhat challenging for Daese Construction to enter the Middle East alone.
“Overseas construction projects are large-scale and highly competitive. Among the construction companies participating in Middle Eastern projects, none have a worse track record than us. Realistically, it’s difficult for us to secure projects without local connections.”
“I understand that. But we can’t stay small forever, can we? Try contacting the companies already in the Middle East to form a consortium or consider participating in Middle Eastern construction through joint ventures. Once we secure the first project, things will get easier. Aren’t there companies struggling with sudden expenses or excessive orders? Even if we just break even, it’s enough, so please make an effort. If it’s still not possible, consider shifting to subcontracting.”
“Yes, understood.”
In the construction industry, it was an old practice for companies based in a region to have priority in receiving orders for that area. As Lee Chang-jin said, if they could just secure the first project, it would serve as a starting point for future success.
As the meeting continued, Lee Chang-jin glanced at his wristwatch.
It was already 5 o’clock. Surprised, Lee Chang-jin excused himself.
“Let’s call it a day and continue our discussion tomorrow. That will be all for today.”
After showering and putting on a suit, Lee Chang-jin carefully styled his hair.
When Lee Chang-jin hurried outside, a car was waiting in the building’s parking lot.
“Chang-jin oppa? Are you done?”
Jin Seon-ah waved with a delighted expression.
“Why didn’t you come inside? How long have you been waiting there?”
“Not long. Did you finish your work? You came out earlier than I expected.”
Wearing pearl earrings and a white fur coat, she looked elegant.
Seeing her dressed more meticulously than usual, Lee Chang-jin realized the significance of today.
“I couldn’t be late for such an important appointment. Where is it?”
“It’s about 20 minutes away. I made a reservation, so we just need to go. Come on, get in.”
Lee Chang-jin and Jin Seon-ah got into the Cadillac and headed towards Myeong-dong.
Their destination was the Chosun Hotel, an elegant hanok-style building located across from City Hall, not far from Myeong-dong.
Upon entering the hotel, they were guided to a beautifully decorated hanok annex overlooking a stunning garden, making it hard to believe they were in the city.
Kim, the driver, respectfully opened the door for them.
“This way, please.”
Taking a deep breath, they entered the room to find an elegant interior lit softly by ambient lighting.
The refined hanok atmosphere matched the luxurious decor, and the polished marble floor gleamed.
The orchids on either side reflected the sophistication of the place.
Holding Lee Chang-jin’s hand, Jin Seon-ah whispered softly.
“Your hand is sweaty. Are you nervous?”
“Yes, I wasn’t even this nervous during interviews or exams… Is it noticeable?”
“A lot. Just be yourself. My dad isn’t that scary. He won’t bite.”
Jin Seon-ah adjusted Lee Chang-jin’s collar with affection.
“Let’s go in with confidence.”
In the room, there was a large glass window on one side showing a traditional Korean garden, neatly arranged napkins, and well-placed utensils. And… a man sitting leisurely, enjoying tea in front of a folding screen with boldly written calligraphy.
- To be continued in Episode 98 -
