This Is How I Became a Chaebol

009 : Peninsula Hotel

that evening.

I returned to my room only after it got dark.

As soon as he crossed the threshold, he collapsed and fell.

After walking around all day, the physical and mental fatigue was no joke.

I could have come in earlier, but I missed dinner because I was unemployed and had to make business cards with engraving.

A business man couldn’t go around without a business card.

“phew…”

My body was tired, but I felt good.

From the fabric factory to the yarn factory… No, you’ve progressed the work to the point where it’s almost set-up.

I haven’t been able to pick out the right things for both places yet, but if the operating expenses are properly supported, the threads and fabrics will pour out.

“Where is the food?”

Crawling across the floor, I opened the side door leading to the kitchen and saw an overturned bamboo basket.

When I opened the bamboo basket, there were rice and kimchi.

Sambok is an angel! Sambok is fashionable!

I had time to celebrate sambok for a while and ate rice and kimchi.

Are you hungry? What is so delicious?

Oh, I’m getting sleepy when I’m full.

‘… Before Sambok comes… I have to leave the rice, but where else will it be… I’m too sleepy.’

I thought I should cook rice for Sambok, but I couldn’t control my eyes.

***

“Yaaa!!!!”

“Ahh”

I woke up screaming as someone pinched my cheek and lifted it up.

It was a triple suit. He was pinching my cheek with one hand and pointing at an empty rice bowl with the other.

“No, no matter what, wake me up…”

I’m sorry I didn’t cook.

But waking it up so violently, I tried to give it a shot… but I couldn’t.

“Hey, I ate alone… I even skipped lunch…”

The guy was crying.

After just one day, it seemed that even her cheeks had become thinner.

“You haven’t eaten anything up until this time, what have you been doing? Buy something.”

It’s past 10 o’clock now, so you’re saying you skipped lunch and dinner?

“Damn the bank bastards. They said they were reviewing it, then they went to lunch together, and after lunch, they said they would take care of other things and consult, but by the time they got off work, they said they had to settle the bill again tomorrow. Bastards, can you treat people so harshly just because you have money?”

Sambok must have been really hungry, so he started eating kimchi without any rice.

“What, didn’t you even consult? Didn’t I show you the export contract?”

“I showed you. But, he laughed. If the company that registered today said that they had signed such a contract, they asked if they would believe it if it were like you.”

In fact, since the contract date precedes the company registration date, it is natural to be suspicious.

“therefore?”

“I sent a telex to Singapore to check it out. The contract is real.”

Telex is like an international telegram that was used in the 1960s and 1970s.

It was a communication method that disappeared in an instant as international phone calls became popular and even fax machines appeared.

“So?”

“They asked me why I had to check. You can only get a loan if there is proof that it is a real export contract.”

“It’s like a fraudulent republic. Whew, then I should have just come back. Did you keep your seat?”

It was only at this time that there were many scammers against banks, so in a way it was natural.

“How come back? The initial delivery schedule is two months away, but we need money to make things.”

“If you’ve heard that, borrowing money is a chore. I took it back when I said I wouldn’t lend it to you.”

I was frustrated.

The rice in the pot was a bit undercooked, but Sambok brought it forward.

“Oh, pop!!”

He hurriedly prepared a spoonful of rice, then poured kimchi soup over it, probably because it was hot, and almost ate it.

It’s undercooked rice.

I thought our business was just like this.

“…Damn it, the roof of my mouth is cracked… Chansu-ya, but I got one thing. If our contract is true, I will challenge the World Bank loan.”

Maybe after eating, his expression brightened a lot.

“A World Bank loan?”

“The World Bank says there is a fund that helps developing countries like us. They said they would invest as much as 200 million dollars to create the Ulsan petrochemical complex.”

“Seo… No way… Are you the Vice Minister of the IDA?”

“Oh, how did you know? He said he was an IDA vice minister.”

how do you know

Anyone who has ever dipped their toes in the plant can’t help but notice it.

Korea’s plant industry has developed from the Ulsan petrochemical complex.

No, it can be said that the entire industry in Korea has grown thanks to the Ulsan complex.

Modern industry without oil cannot be dreamed of.

Anyway, the money that built the Ulsan complex was the IDA loan, and in Korean it could be called the International Development Association loan.

The anecdote that the generations before us struggled to obtain the IDA loan is the story that junior engineers like me grew up hearing like a heroic story.

He said that the World Bank inspection team only laughed when he said that he would build a petrochemical complex in an empty field where there were only thatched-roofed houses on a hillside along the Taehwa River in Ulsan.

At first, the World Bank inspectorate tried to reject the loan, saying it was a ridiculous idea, but I heard that a nobleman who had been in the World Bank advance team turned the situation around.

Perhaps he was a close friend, he arbitrarily submitted a report to the U.S. government demanding a loan from Korea.

The report was written in such a strong tone that the US government immediately approved the loan.

It was difficult to find even a similar case except for the Republic of Korea to support a country with an enormous loan of 200 million dollars as a lump sum.

What was the name of that gentleman?

When I heard it from the seniors, it was spilled into a military story, but now I had to find the nobleman.

“What does it matter how I know? Anyway, what did the bank say? Can we get a loan?”

Loans are dollars.

Dollars are like wings to an exporter like me.

“I waited at the back door until I got off work, and he finally talked to me. The IDA vice minister said that all oil-related export companies can participate. Aren’t we also a company that exports synthetic fibers? The person in charge of Johong Bank said he would decorate the papers for us to spoon on. Of course, they nailed it saying it wasn’t free. Damn you bastard.”

I got information as I did while swearing as I swear. Good job. Sambok.

“If not free, commission?”

“If you receive foreign capital, the Industrial Bank of Korea will let you borrow the same percentage of domestic money. They asked for 3% of that money as a commission.”

If you receive foreign capital (foreign capital), you can obtain and use domestic capital (domestic capital) in the same ratio?

It’s embarrassing, but it seems that was the case in the 60’s.

“3%? Seriously, that’s ridiculous.”

“It means that they will eat it from the bottom to the top. It’s dirty, but I think you’ll have to give it to borrow money.”

The relationship between domestic and foreign investors was absurd, but the commission rate was even more absurd.

It was a well-known fact that bank loans were expensive, but that’s 3%?

That means if you borrow $100,000, you have to pay $3,000.

Asking for money brought in for the development of the country as a bribe?

Anyway, the financial world in the 1960s was really shit.

“What are you talking about? You’re going to give me 3% as commission? Don’t even meet the Chohong Bank bastards in the future.”

“Chansu, I can’t help it even if it’s dirty. In the meantime, it’s a possibility. Even if you don’t know about the IDA loan, you should be able to borrow enough money from the Korea Development Bank using the document as an excuse.”

“You can borrow it from somewhere else.”

“Borrowing from somewhere else, even if you buy yarn right away, it will cost you 20 million won, and if you include the down payment to the subcontractor, you should have 30 million won.”

Ugh, I even counted the money.

If you need 30 million won, roughly doubling the loan to 60 million won will be enough.

If you start exporting, you will soon receive 400,000 dollars, so paying back the money is no problem.

“Don’t worry, you did a good job. Leave the rest to me.”

“You want me to take care of the back job?”

“I’ll show you how this older brother borrows money. You take care of taking over the factory here in Seongsu-dong. Please find out in advance about the takeover payment, overdue wages, and office tidying up.”

I handed over the ledger of the Seongsu-dong factory that I had brought in my pocket.

Currently, it is a synthetic fiber, but it will soon change its name to Daesei Unemployment.

“What, didn’t you go looking for a subcontractor?”

“I went there to do that, but it was supposed to start with our factory. That way, we can export quality fabrics.”

If there is no direct factory, it is only swayed by subcontractors.

You have no choice but to receive expensive and poor quality goods.

If you sell cheap products, you may be able to do business at first, but if a competitor with a little bit of ability appears, you will be out of the market at once.

“Are you making our own factory?”

“We’re not going to do business for a day or two. You have to start right.”

“Are you… crazy? Or are you brave?”

“What, you have to be smart.”

“ha…”

Sambok sighed and began to scrape and eat the cooled pot rice.

It was the look of life.

It was a natural reaction because he must have already resigned from the company, and what I asked him to do would look absurd.

“I need to wipe my feet and go to sleep.”

“Oh, I stopped by chemical fiber for a few days, and there is a company called Comet Nylon nearby, so please take a sample of the yarn. I’m going to be picking it up right now.”

“… what? Comet Nylon? yarn sample? Are you saying that you will use domestically produced yarn?”

“Of course.”

“You were determined to fail!!!”

“Even if you are caught smuggling, it’s the same as ruining it.”

“…why did I resign? Why is my friend torturing me like this?”

Sambok got water in the washbasin and started washing his face in anger.

“What are you bothering? i promised you It makes me live with a sense of pride!”

“I’ll live with a smile… damn… just give me some glue in my mouth. I’ll carry it on my back for the rest of my life!”

The guy seemed annoyed at the moment and splashed the water in the yard.

I was annoyed, but I didn’t say that I wouldn’t work until the end. solid guy.

***

The next morning, the sun was shining again.

Every minute and every second had to be saved before the company was properly set up.

To be honest, to meet the delivery schedule in two months, I should be weaving the fabric from now on.

“Go for it. Sambok.”

“Ah, yes. president. Please borrow money. Definitely.”

The words were respectful, but Sambok’s expression was completely different. He rubbed his forehead against mine and made a promise.

If he couldn’t borrow money for the work he had made, he would have nothing to say even if he was accused of being a scammer.

“Believe me, Sambok.”

“Ah, yes. Believe me.”

I hit him on the forehead, and he eventually went to Seongsu-dong, choking.

They went in opposite directions from yesterday.

The place I was going to today was the Peninsula Hotel.

**

「Bando Hotel」

The Bando Hotel was a popular hotel in the 1960s, and along with the Chosun Hotel, it was one of Korea’s top luxury hotels.

In the 1970s, the number of luxury hotels increased and it lost its reputation as a top-notch hotel due to outdated facilities and was demolished, but at that time it was definitely the best hotel in Seoul.

“what? Was it only on the 8th floor?”

I didn’t know that the Bando Hotel, which was said to be a specialty of Euljiro, would be like this.

They even piled up bricks next to the hotel, saying they were demolishing an old private house and building a new one.

It was unimaginable in the 21st century to do construction without partitions next to a high-end hotel.

However, at that time, there was no building like this in Seoul, so I heard that half of the floor from the bottom was used as an office and the other half as a hotel room.

In other words, the person I was looking for was in an office from the 1st floor to the 4th floor.

‘World Bank East Asia Director, David.’

He is the nobleman who gave Korea 200 million dollars in IDA loans.

I spent the whole night trying to remember the name.

He is an angelic man who will lend me money too.

find it! David!