How should I proceed with acquiring the KEPCO site?
Although it's a public enterprise, KEPCO's scale rivals that of Samsung Electronics, so moving it would require an enormous amount of groundwork.
Such groundwork was impossible to conduct within Korea.
For the first time in a long while, I boarded a flight bound for Russia.
Upon arrival, more than ten security vehicles were waiting at the airport.
"The governor is waiting for you."
"I didn't expect you to take such care."
Following the bodyguards' lead, I left the airport.
After about two hours of travel, I arrived at an enormous mansion.
The owner of this palace-sized estate, rivaling that of a Saudi prince, was Roman, the Russian oil magnate I had befriended since Putin's inauguration.
"Kim! It's been so long. Why haven't you visited Russia more often? You should come more
frequently."
"I apologize. I've been so busy I couldn't find the time. I'll try to visit more often from now on."
"I hear about you all over the place. You know your influence is spreading worldwide, right? I've been boasting about our friendship to benefit from your name."
Roman teased me playfully.
Although my prominence had increased since the joint speech with Steve, I was still nowhere
near Roman's level.
Especially since last year, Roman's fame had skyrocketed.
"I've also been hearing news about you from several sources. I heard you acquired an EPL club last year? I'm really jealous."
"Why don't you buy one too? Someone like you could definitely buy and manage a team. I want to see our teams compete in the EPL soon."
Roman's face lit up with excitement.
He must have been thrilled to have finally acquired the EPL team he'd dreamed of.
Taewoo Group also ran a professional soccer team in Korea, but it couldn't compare to the EPL.
"If the opportunity arises, I definitely want to try it someday. Oh, there's a Saudi royal who wants to buy an EPL team."
"Someone close to you?"
"Practically like a brother."
"That's great! I hope the day comes when we can see whose team is stronger in the EPL."
We spent over an hour bonding over football.
Only then did I subtly bring up the topic I really wanted to discuss.
"Korea and Russia should strengthen their cooperation in the energy sector, don't you think?"
"A committee has been formed for a few years now to discuss strengthening cooperation, but
with the economy so difficult, nothing has really come of it."
"It's a tough situation. Still, for the development of both our countries, we need to fasten the first button quickly."
"There's no one to act as a mediator, so things are dragging. How about you take on that mediator role? You're the only Korean the Russian government trusts and relies on. Besides, you lead the largest group in Korea."
Roman was basically saying exactly what I wanted to hear.
He was a businessman and politician favored by Putin, so talking with him meant talking with the Russian government as well.
"I'm always ready to help wherever I can."
"The president will be very pleased."
"Oh! By the way, did you decide to run again as governor of the Chukotka region?"
"Ah, don't even mention it. I want to quit, but the president asked me to serve one more term, so how can I refuse? I'm already busy with my businesses, and now I have to be governor again."
That meant Putin trusted Roman deeply.
Though the Far East was a backward region, the governor position was still in charge of an entire area.
Such a position wouldn't be offered to someone untrusted.
"That's actually good news. While you are governor, how about collaborating on energy resource development in the Far East with Korea? I'll act as the bridge in the middle."
"Is that possible? If Korea says they'll cooperate, we'd have no reason to refuse."
"It would be a mutually beneficial project. Of course, it would have to be under the premise that the resource development can proceed stably."
"We can guarantee that. There are more than ten oil fields buried in the Far East, and over fifteen gas fields. The problem is, no one's developing them. If someone offers to develop, we wouldn't hesitate at all."
This is why territory matters.
Korea produces not a single drop of oil, but Russia has oil fields left undeveloped.
"If we develop the oil fields, it would be worth over 100 billion dollars."
"We haven't precisely measured the reserves yet, but it could be more than 500 billion dollars, not just 100 billion. If only we can develop them properly."
Five hundred billion dollars is over 600 trillion won.
A project of that scale would easily justify acquiring the KEPCO site worth about 5 trillion won.
For the 5 trillion won KEPCO land, we just created a 600 trillion won project.
I returned to Korea.
I went straight to see my grandfather and reported what had happened in Russia.
"So you created a 600 trillion won project just to buy the KEPCO site?"
"It's also a very good project for energy cooperation between Russia and Korea."
"But just because you created a 600 trillion won project, do you think KEPCO will just hand over the land?"
"I plan to create a situation where they have no choice but to give it up. For example, if this
project succeeds and Russian energy companies need a foothold in Korea, KEPCO would be forced to provide the land."
The big plan was already set.
It would be no problem to get the KEPCO site once the details were finalized.
The only remaining issue was timing. My grandfather pointed that out clearly.
"If you move according to your plan, it might work. But you have to coordinate meetings
between the Korean and Russian governments. Governments are slow — I don't know if it'll take only one or two years."
"If Russia takes the lead, the Korean government will have to respond actively. The Russian state energy companies are scheduled to visit Korea as early as this month."
"You're very capable. Hmm, now that you might get the KEPCO land, why don't you give up on the Charlotte Group's land?"
Suddenly, my grandfather changed the subject.
He might be satisfied with just the KEPCO site, but I was not.
It was my grandfather who ignited my greed, so he had to take responsibility too.
"Of course, we have to get the Charlotte Group's land as well. It's necessary to have two options in hand for government negotiations. Whichever land gets approval first, we can think about the other afterward."
"That would be the best-case scenario. But I worry you're getting too involved in the Charlotte Group's affairs. Especially if you get entangled in their management dispute, it won't end well."
"We're just acting as brokers. Whether it's the eldest son or the younger son, as long as we help put the chairman's preferred successor in place, that's enough. There's nothing to get blamed for."
"Alright. Do as you please. It was my fault for bringing up the new headquarters. Chairman Jin wants to see you today. He said he wants to meet just the two of you, without me."
I had waited a long time.
I thought he would ask to meet immediately tomorrow, but there had been no contact from
Chairman Jin even while I was in Russia.
"I can't keep the elder waiting. I'll head out right now."
"Don't be too rude."
"I'll treat him like I treat you, Grandfather."
"Don't do that! When have you ever shown me respect?"
Feeling a bit embarrassed, I scratched my head and then headed out to meet Chairman Jin.
A restaurant located in Cheongdam-dong.
The same place as before, the same food, and the same people.
But the atmosphere was completely different.
Unlike the warm and friendly meeting last time, Chairman Jin was very stiff and tense.
"You don't look well."
"I haven't been sleeping well these days because of you. It's because of what you said — that Charlotte Group is turning into a mess like Hyundai Group!"
The first-generation chaebol chairmen truly built their empires from scratch.
Although most inherited significant wealth, they grew what they inherited thousands or tens of thousands of times into huge conglomerates.
They devoted their entire lives to build these corporations.
But like everything else, building up takes time and effort, while tearing down can happen in an instant.
Even Taewoo Group, which seemed unshakable, was torn apart by a management dispute.
So it was only natural that Chairman Jin stayed up all night worrying.
"I only intended to ease your worries, Chairman, but it seems I caused you more trouble. I'm
sorry."
"How can I blame you? It's my fault for being too complacent. I saw clearly what happened to Hyundai Group after Chairman Jang died, yet I failed to prepare any measures."
Worry is like a swamp.
Once you fall into it, you sink deeper and deeper.
Chairman Jin seemed to have imagined Charlotte Group being torn apart like Hyundai Group after he's gone.
"It's not too late. You're still healthy; you can hold the center of Charlotte Group for more than ten years."
"That sounds like you're telling me to retire in ten years."
"If it sounded like that, I apologize."
"No need to apologize. It's a blessing to think this old man can still run the company for ten more years. Now tell me in detail how you plan to help."
Finally, the big fish started nibbling at the bait.
To make him bite the hook, I needed a very sweet lure.
"I can help ensure that whoever you want becomes chairman in a stable manner."
"Then tell me how."
"The chairman's position ultimately needs to be backed by strong management skills. Together with Taewoo Group, we can build a solid track record."
"So Taewoo Group will handle risk management?"
"Yes. This will also significantly boost Charlotte Group's sales."
"Does this include the duty-free business too?"
"The Arnault family's brands will be the first to be introduced."
I kept leveraging the name of the Arnault family.
There was a possibility the Arnault family might oppose it, but that was a problem to deal with
later.
"What else can you do? Don't you think you're still lacking to secure such prime real estate?"
"I can help with overseas market expansion."
"Our overseas market is basically limited to China. So you mean you'll help us enter the Chinese market?"
"I know Charlotte Group has already entered the Chinese market. But I can assist and consult so that more projects can enter stably and securely."
"That sounds good. Anything else?"
Are all conglomerate heads like this?
Chairman Jin was as greedy as my grandfather.
"When I say help with China market entry, I mean I will mobilize all the connections Taewoo
Group and I have. You know how important guanxi is in China. If Charlotte Group can truly
penetrate the Chinese market, the gains could be tens of times more than what the Charlotte
Group land is worth."
"So you won't offer anything more? Kim has really trained you well. If you'd offered more, I
might have doubted your true intentions."
Doubting my intentions? No way.
I just felt I was asking too much and was trying to turn the conversation around as if I was only testing him.
"So, will you accept the proposal?"
"Today, let's just make a preliminary agreement. If Taewoo Group keeps its promises, then I'll sign the real contract."
"To keep the promise, you have to tell me who you've already decided will be your successor."
"My second son. Help him out."
The moment the successor of Charlotte Group was decided.
Chairman Jin chose his younger son, Vice Chairman Jin Dong-gu, over the eldest.