CH17 : Abandoned Factory

Around the same time.

Singapore, Adelphi Hotel.

"How did it go?"

Razak urgently asked his right-hand man.

"We've sent the additional order via telex and confirmed the deposit with the bank."

"You placed the additional order at the existing price?"

"Yes, that's correct. Since we placed the additional order before receiving the goods, according to trade customs, the unit price will not increase."

"Thank goodness. That's a relief."

Razak breathed a sigh of relief.

"Razak-nim, even though there was a terrorist attack in Vietnam, isn't this too much? I think it would be wise to reduce the volume a bit..."

"Reduce? We need to increase it, not decrease. Do you think we can find such high-quality fabric at 65 cents per yard?"

Razak smiled, pointing to the fabric sample sent by Daese Group via air.

"That's not what I meant. No matter how good the quality, it has to be sold to make money. If you place an additional order of 300,000 yards, we might run out of operating funds. At least sell the first batch before..."

"No, this is a heaven-sent opportunity. Soon, Vietnamese fabric will disappear from the market. Prices will skyrocket. Holding onto Daese Group's fabric, we could sell it for a dollar per yard. We must gather as much as we can."

"Vietnamese fabric disappearing? The instability in Vietnam isn't new. Soon, the goods will be back on the market."

The secretary expressed concern.

Although the US embassy attack was a big deal, such incidents were common in Vietnam.

"Nonsense. The US military will go into full-scale war. They will control all imports and exports from Vietnam. Those Vietnamese merchants smuggling Japanese yarn to make fabric will all go bankrupt."

"!!!!!!"

Upon hearing this, it made sense.

The widespread smuggling trade in Southeast Asia might no longer be effective in Vietnam.

The US Navy wouldn't allow smuggling ships. As military supplies for the Viet Cong could be involved, all merchant ships would be thoroughly monitored.

"The US embassy attack will lead to such outcomes."

"Indeed, one must not overlook anything in business. Always predict ahead! Faster than anyone else!"

"I will keep that in mind, sir."

"Frankly, even I didn't expect this situation. Mr. Woo seems like a rookie, but he's very skilled and lucky."

"I will never underestimate Mr. Woo."

"Of course. We must get involved in whatever business he's doing."

"Yes, sir."

"Phew, anyway, it's good to hear the matter has been handled. Now I can be happy."

Razak, unusually, took out a cigar and put it in his mouth.

It was something he did only when he was in a very good mood.

"Congratulations on your increasing wealth in advance."

The secretary lit the cigar and filled the champagne glass.

"Yeah, crack down on those High Street retailers. Those who placed additional orders with Daese Group will make money, right?"

"I will collect taxes appropriately."

Razak felt even better at the secretary's words.

'At least double the net profit, maybe even triple.'

Securing Daese Group's fabric made dominating the Southeast Asian clothing market feasible.

If he were ten years younger, he would have played music and danced all night with his wife.

***

The next day,

I dressed neatly and headed to the Bando Hotel.

I stayed up all night thinking about various things.

The special situation in Vietnam felt imminent, but feelings were just feelings. I had to confirm the facts.

"David!"

"Welcome, Mr. Woo."

David was waiting in front of the office.

It's not the 21st century, so politically sensitive issues like the US embassy attack were confirmed more accurately and quickly through political connections like David rather than newspapers.

"Thank you for taking the time despite your busy schedule."

"Not at all. I wanted to meet before returning to my country, and it was fortunate that we got in touch."

"You're returning home. Congratulations."

It seemed he was returning home in a hurry.

Judging by his expression, it felt like a promotion.

"Thank you. Anyway, the important thing is that your prediction was correct, Mr. Woo."

"You mean my prediction was correct?"

I asked, pretending to be surprised.

"You said the US would eventually go into full-scale war in Vietnam, right?"

"Yes, I did."

"Yesterday, there was a bomb attack on the US embassy in South Vietnam. Hundreds of Americans, including diplomats, were killed. The US can no longer just stand by."

"They've crossed the Rubicon."

As expected, it happened.

It wasn't in the local newspapers yet, but since David said it, it was certain.

'That's why there was a flood of orders!'

This was the real reason for the additional orders.

South Vietnam, once a spotlight for fabric production, would undergo a complete industrial transformation.

Under US military control, the textile industry, which relies on imports and exports, would die, and only military support-related businesses would thrive.

"It's tragic but unavoidable. Anyway, as you feared, the risk of a full-scale war has become a reality, so US inflation will soon be a reality as well."

That wasn't all.

What was important to me was that this event would lead to a rapid US-Korea summit, and South Korea would formally join the Vietnam War.

How did I know?

In 1965, as a result of the US-Korea summit, a massive loan of $150 million was secured, and the Korean government invested all of it in the Ulsan Petrochemical Complex.

Having worked in the plant industry in my previous life, I knew that much history. Indeed, the all-in investment in the petrochemical complex was a huge success.

"Did you submit the inflation report to the US government?"

"Of course. I sent it a month ago, and instead of encountering opposition, it turned out to be a prophecy. The US government is urging me to return quickly."

David patted my hand with a sense of gratitude.

Going back to the US mainland, he would be treated like a scholar, and receive immense attention from the political and economic circles.

"Congratulations. So, who will handle the World Bank delegation?"

"My successor will handle it. But what's more important is the news for you, Mr. Woo."

"More important news?"

"A representative from the US Department of Commerce's East Asia loan office will join the World Bank delegation."

"!! That's how it turned out."

In the original history, the US Department of Commerce sent a representative directly.

'That's why the US-Korea summit was able to agree on a $150 million loan.'

The fact that the US Department of Commerce dispatched personnel meant that behind-the-scenes contact between the US and Korea was accelerating.

It was a natural progression.

The US desperately needed allies to send combat troops to Vietnam, and South Korea needed to participate in the Vietnam War to earn foreign currency and prevent the reduction of US forces in Korea.

In such a situation, the officials had to discuss key issues behind the scenes and conduct preliminary inspections before the summit.

"Phew, it's a bit unfortunate for you, Mr. Woo. If only the original World Bank delegation came, you could have participated in the construction of the Ulsan Petrochemical Complex."

"It's unfortunate, but there's nothing we can do."

What's unfortunate?

I never intended to directly involve myself in the gigantic Ulsan Petrochemical Complex project.

No matter how much of a 21st-century plant expert I am, it would be foolish to challenge a project as huge as the Ulsan Petrochemical Complex without sufficient resources.

My best bet would have been to secure a design contract using the World Bank delegation's advisory role as an excuse.

That might earn some money but would waste the opportunity cost. I had to approach it differently.

"Given the circumstances, I will connect you with the US Department of Commerce instead of the World Bank delegation."

"I'm very grateful, but I'm a bit apprehensive. While I can handle the World Bank delegation, politicians make me cautious."

Getting close to political power in this era was a double-edged sword. As someone who could grow independently, there was no need to take such risks.

The biggest reason I focused solely on exports was to avoid political entanglements until I was strong enough to withstand external pressure.

"Mr. Woo, the person dispatched by the US Department of Commerce this time is very special. He might make a significant investment in you."

David genuinely wanted to help me.

Partly because of the immense value I added to his career, but he also seemed to feel a personal affinity for me.

"I'm not yet comfortable with investments through politicians. Instead, can you connect me with Gulf Company?"

Even though I was slightly tempted by the prospect of a major investor, I steadied my mind.

There was no need to introduce variables.

I could certainly become a conglomerate following my plan.

"... Is there a particular reason why Gulf Company is better?"

"I'm a trader dealing with chemical fibres. The raw material for synthetic fibres is naphtha, and if the petrochemical complex grows, companies like Gulf Company will control the naphtha business."

"You're aiming for the naphtha business."

"Yes, that's correct."

"It's a viable business."

David nodded.

Not just viable, but essential.

In the original history, Gulf Company invested in the naphtha plant construction with the Industrial Bank of Korea.

Gulf, holding the management rights, sold the naphtha business to Japanese companies, citing the lack of domestic technology to operate it.

As a result, the Industrial Bank of Korea was left empty-handed, and Japanese companies reaped massive profits by producing various petroleum products using naphtha.

With me around, there was no reason to repeat that history.

By securing it, I could prevent capital outflow and become rich—killing two birds with

 one stone.

"If you can meet the head of Gulf Company's Korean branch, you can propose the business."

"If that's what you want, I have a good idea. The Ulsan City Hall is hosting a welcome reception for the World Bank delegation, and Gulf Company will attend. I will add you to the reception list. Will that work?"

"If you do that, I'll be very grateful. Thank you."

"Don't mention it. I'm the one who's greatly indebted to you as I return home."

"Before you leave, you must have a drink. I also need to repay the $100,000 you lent me."

"I'm afraid I won't have the time. You can use the $100,000 as much as you need and repay it when you're able. I'll hand it over to my successor."

"Thank you."

David seemed to have developed an immense goodwill toward me.

It was unfortunate he was returning to the US, but having a connection there could be a good thing.

****

A few days later, Ulsan Industrial Complex

I handed over the work to Sam-bok and drove to Ulsan with President Hwang Hyesung at dawn.

I made sure to bring the invitation to the World Bank delegation's welcome reception.

Before attending the reception, I planned to conduct an on-site inspection. To properly entice Gulf Company, I had to understand the site first.

Recalling my memories from my past life, I could immediately tell where the naphtha plant should be placed for maximum efficiency by touring the industrial complex site.

"Wow, Ulsan is bigger than the Seongsu complex. I'm honestly surprised."

President Hwang Hyesung's eyes widened.

He seemed to have thought of Ulsan as a rural backwater.

"Most of the crude oil coming into our country passes through here. It's incomparable to the Seongsu complex."

"I see."

Even in the mid-60s, Gulf Company was operating a refinery here.

The refining industry is a prime example of a heavy industry, requiring not only port facilities for oil tankers to dock but also oil storage and various refining-related plants.

It's known as a heavy and large industry.

'So this is what early Ulsan looked like.'

I was a bit surprised for different reasons.

The place was merely a few shabby factories, yet in the 21st century, it would grow into Asia's largest chemical industrial complex with annual sales exceeding 100 trillion won.

"Excuse me, where is the Gulf Company plant located?"

"The plant starting from across the street is Gulf Company's."

"Is that abandoned factory over there what you mean?"

The plant across the street wasn't really a plant.

It was an abandoned factory with a big X mark at the entrance.

"Yes, they moved to a new plant near the port, but that plant still belongs to Gulf Company."

"Ah, thank you for the information."

The passerby kindly answered.

"Shall we head towards the port?"

"No, President Hwang. Let's look around this plant first."

President Hwang Hyesung was about to head towards the sea, but I pulled him back by the arm.

"Huh? Why look at an abandoned factory?"

"That's exactly why we need to look at it."

I couldn't contain my pounding heart.

'To think there would be such a place.'

I had planned to build a plant from scratch with investment from Gulf Company, but I might be able to save a lot of trouble if things went well.

It's much easier to repair an old car than to build a new one, after all.

If the factory's structure was intact, it would be a hundred, a thousand times faster than building anew.

"Wow, the pipes are full of holes."

"Indeed."

It was absurd to see the refinery's pipes rusting.

However, my heart pounded even harder.

Not all the pipes were rusted.

「For Sale」

As I walked in, there was even a sign at the entrance that the factory was for sale. I felt like dancing.

'Jackpot! Jackpot! It's really up for sale!'

I was so delighted that I got goosebumps.

The 60s were indeed magical for me.

From a 21st-century perspective, it felt like money was lying on the ground. This abandoned factory felt like finding the Hunminjeongeum Haerye in a neighborhood used bookstore.