Austria, Linz
"What kind of steel mill is supposed to be in such a rural area?"
No matter how much he looked around, all he could see were cows leisurely grazing on the grass.
It was the kind of place where you might expect to hear yodeling.
Chansu, who had flown to the United States, couldn't be contacted, and the documents only stated to establish a comprehensive technical cooperation with Voest Company near here.
In Germany, they had simply purchased patents from SMS for 'Thin Plate Casting Method' and from Otto for 'Recycling of Byproduct Gases in Steelmaking Processes.'
Of course, those companies were puzzled about why a country without a steel mill was buying patents.
"Excuse me, ma'am. Can I ask you something?"
"Yes, please."
"Is there a factory called Voest around here? I heard it's a steel mill."
He asked a woman who was feeding grass to sheep.
His English wasn't very fluent, but it was good enough to ask for directions. Using a few German words he remembered from high school helped.
"A steel mill? Ah! Do you see that building under the mountain over there? That's the ironworks. Go take a look."
"Ah, thank you."
The place she pointed to was shockingly humble.
It wasn't a factory but rather a crumbling brick house without any proper signage.
Moreover, there were cows grazing in the front yard.
If there was anything that could be called a steel mill, it was some iron container-like structure behind the house and something that looked like a kiln.
The idea of having a steel mill in such a clear and scenic place was absurd.
Typically, a steel mill would conjure images of black smoke and wastewater.
"Hello, sir."
"Yes, what can I do for you?"
He approached a man who seemed to be the owner of the place.
The man's thick beard made it difficult to guess his age.
"Is this by any chance the Voest Steel Mill?"
"Hmm, are there still people calling it that? Anyway, this place used to be known as the Alpine Montangesellschaft Voest Steel Mill (Alpine Mining Association Voest Family Steel Mill)."
It seemed he had found the right place, though the company name had become even more complicated.
"Nice to meet you. I'm SB Lee from Korea."
"Korea?"
"A small country in East Asia."
Sambok pulled out a world map and pointed to Korea.
It was something he had done when introducing himself in Germany.
"Ah, I see. I'm Johan Voest. But what brings you all the way here from such a distant place?"
Johan put down the milk can he was holding and asked, realizing that Sambok was not just a passerby.
"I've come to seek technical cooperation with Voest Company to build an integrated steel mill. We are willing to meet any conditions within our company's capabilities in exchange for comprehensive technical cooperation."
Sambok delivered his prepared lines fluently.
Of course, he felt a bit sad saying this.
It was absurd to offer any conditions when they didn't have much money, and he doubted that such a company would have the technology to build an integrated steel mill.
'Why did Chansu say that the fate of our nation depended on this? He wouldn't have joked about something like that.'
It was too much of a coincidence to think that Chansu had mistaken the company's name.
"I don't quite understand, but since you're here, why don't you come inside?"
Johan Voest invited Sambok into the house.
"Wow, this isn't a steel mill; it's a steel research lab."
Sambok was amazed as he entered the house.
There were all sorts of blueprints scattered around, and through the window, he could see structures resembling blast furnaces in the backyard.
What he had thought were sleek iron containers from afar were actually quite complex structures up close.
"Our Voest family has been running steel mills for generations. It used to be quite large, but the war left nothing of the old factory. All I have left is to complete the research my grandfather and father were doing."
Some of the blueprints on the wall were on new paper, indicating ongoing research.
"I understand how you feel. Our country was devastated by the Korean War, and we're still struggling."
"Did Korea have a war too?"
"Yes, it was 15 years ago, and we're still in the midst of reconstruction."
Johan offered a glass of milk to Sambok.
It wasn't much, but for someone who had skipped lunch, it was appreciated.
"Building an integrated steel mill in such a country?"
"Yes, that's why we're seeking technical cooperation with Voest Company."
"Do you know what my research is about?"
"I don't. My friend only said it was crucial technology for building an integrated steel mill."
Saying this made him feel embarrassed, but he was following Chansu's instructions faithfully.
"Well, I don't know how to respond to that."
"I thought my friend's words were absurd too, but now I understand. Isn't this the kind of country he dreams of?"
"What do you mean by that?"
"It's peaceful. I heard this is a neutral country when I crossed the border."
Sambok had entered Austria with difficulty.
It bordered communist countries like Czechoslovakia and East Germany to the east, and Italy to the southwest.
He understood the geopolitical significance of Austria's location.
"Is Korea a neutral country too?"
"No, we're on the front lines of the Cold War. Saying a country without a steel mill can maintain peace is a delusion."
Sambok said, looking at the meadow beyond the window.
"I see what you mean."
Johan sensed sincerity in Sambok's eyes.
He hadn't expected to feel a sense of kinship with a stranger.
"Could you tell me about Voest family technology? I swear to keep it a secret."
"... Alright. Come with me."
Johan stood up and led Sambok to the backyard. He didn't understand why he was doing this.
He had never shared his family's technology with anyone before.
But his body moved as if it had been waiting for this moment.
"Our Voest family technology involves crushing iron ore and anthracite into fine powder and burning it directly in a fluidized bed furnace."
Johan explained, pointing to the complex system of pipes connected to the iron containers he called fluidized bed furnaces.
"Is it different from conventional steel mills?"
"Yes, the traditional blast furnace method requires a sintering plant to make iron ore into lumps and a coking plant to convert bituminous coal into coke."
"!!!!"
"This technology is essential for Austria. The quality of the iron ore and coal we have here is not very good. If we commercialize this technology, the limitations on steel production will disappear. And..."
"Low-quality iron ore... coal..."
Johan continued explaining, but Sambok was already lost in thought.
If Austria's iron ore was of low quality, then Korea's iron ore wouldn't even be worth mentioning.
He didn't know how Chansu had known about Voest's technology, but it was exactly what Korea's integrated steel mill needed.
No need for preprocessing, and the ability to use low-grade iron ore and regular anthracite.
It would save on construction costs and operating expenses when building the plant.
He now understood Chansu's words about the fate of their nation depending on this.
Why hadn't others recognized the value of this technology? Or maybe they didn't even know it existed yet.
"Mr. Johan, why don't you come to Korea?"
"Excuse me?"
"Come to Korea and realize your dream. Let's build an integrated steel mill there with this technology."
"Mr. Lee, this is still a research technology. It will take at least another 10 years of research to be viable."
"It's alright. My friend is a genius as well. If you two work together, you'll definitely succeed."
"… Hmm… I'm not sure how to respond to that."
"Any contract terms are fine. I'll be your partner. I stake my honor on it!"
Sambok signed the contract without hesitation and handed it over.
Most of the sections were left blank.
It was essentially a blank check.
Contract negotiations would be handled by Chansu.
His task was to bring Johan Voest to Korea.
"… Let's have a meal first."
"I can't take a free meal. I'll clean the barn."
Sambok rolled up his sleeves and ran to the barn to clean up the cow dung.
Someone who knew hunger, who understood the plight of a small country, who valued labor...
Johan Voest had found the perfect partner.
It seemed the time had come to fulfill his father's last wish.
Johan Voest began organizing the blueprints and materials pinned to the wall. The comprehensive steel mill design that had been revised over three generations would fill several boxes.
***
Around the same time, at the VIP room of a Pittsburgh hotel.
"Before discussing an investment of 150 million dollars, we need to decide who will do the design, don't we?"
Coopers' President Poi started the conversation abruptly.
He was the person to be most cautious of.
He was trying to sell outdated equipment to me.
In the original timeline, the U.S. had forced outdated equipment on us under the pretext of loans, West Germany had pulled out at the last minute due to distrust, and Japan had come out relatively friendly to secure their record.
Of course, Japan initially provided equipment cheaply and then extracted long-term profits through technical services, maintenance, and production expansion.
In the world of business, it's a given that there are no good guys. It's just a game of rules.
"We will conduct a private tender for design and equipment."
"Does Korea even have the capability to specify design standards? Our Coopers Company recently designed and successfully completed Turkey's Erdemir Steel Plant. Leave the design to a reliable company."
Coopers' President spoke as if trying to seize the initiative.
"Erdemir in Turkey? The
steel plant that planned to produce 500,000 tons but barely managed 200,000 tons? Calling that design a success, Coopers is automatically disqualified. Here are my specifications."
I handed over the bid contract from my briefcase, warning President Poi.
I am the boss, and you are the subordinate.
Forget about the U.S. and Korea.
"This... how could this be..."
"Ahem, it's quite a decent bid."
Of course, if they couldn't meet my specifications, they couldn't even bid.
I made it clear that I would reject outdated and cheap equipment.
"Haha, if these are the specifications, Blaw-Knox should handle the design. We offer 20 million dollars in commercial loans."
"Westinghouse wants a 20 million dollar contract for the power plant."
Already 40 million dollars in loans?
Combined with the 20 million dollar compensation from the West German government, that's a total of 60 million dollars, securing over 35% government shares in Pohang Iron and Steel. It's already in a safe zone.
"Alright. Review the contracts and sign them."
I handed over the commercial loan contracts.
The 7% annual interest rate would be very attractive to them.
"As expected of CS. The integrated steel mill will surely be successful. BR will invest 30% in shares. How about that?"
"Fine."
Van Flint stepped forward boldly.
He's a big shot. It seems he regretted not investing boldly under the BR name in the previous petrochemical complex investment.
"Then I will be the representative of the investors."
"Siemens and Demark will jointly invest 30% in shares. Then we will also be the representatives of the investors, right?"
"Then BR will take 35%."
"Ah, then let's close the share investment. There are already existing investors holding 35%."
I had to stop here.
No one should exceed a 35% shareholding.
The Korean government must remain the largest shareholder.
BR is friendly, but even so, the 35% shareholding must be adjusted during the final contract.
"Huh! What kind of law is that? Silverstein will also take 10% in shares."
"Other companies can't invest in shares? What kind of law is this?"
Having stayed silent, they started clamoring only when the share investment was closed.
Asking for it won't get you anything, but saying it's enough makes them desperately offer.
Perfect. Let them split the shares among themselves.
"If the shares are excessively divided, decision-making becomes difficult. Let's stop here. If you must insist on share investment instead of commercial loans, please negotiate separately with BR and Siemens-Demark alliance."
"Indeed, CS is straightforward."
"Are you treating the Pittsburgh Steel Union as fools? I'm the party host here."
"What is this? We crossed the Atlantic only to be treated like this?"
Van Flint leisurely surveyed the room, and the representatives from Coopers, the UK, and Italy became agitated.
Especially Coopers, who was fuming and on the verge of exploding. With Nancy and Van Flint so confidently stepping forward, others became desperate.
"Damn it, why are other countries acting like this in America?"
"Lady!!!"
"Whoa, everyone calm down. CS, please calm Nancy down. I'll handle this."
Van Flint practically pushed Nancy and me out.
As the atmosphere heated up, he intended to take the role of the investor representative.
While they negotiated among themselves, the funds would be secured, and our country would remain the largest shareholder.
The successful investment attraction for the petrochemical complex proved invaluable.
I leisurely poured a glass of Jack Coke, took Nancy's arm, and left the room.
***
"CS, do you have something to say to me?"
"Of course. That's why I brought you out."
I took Nancy to a refreshing veranda.
We needed a place for just the two of us.
The integrated steel mill was for absorbing Incheon Steel,
My business with Nancy was purely personal and thus equally important.
"What could it be? What do you have to say to me?"
"What's going on at the U.S. Department of Defense?"
Nancy flinched as I boldly brought it up.
"What... do you mean? That's a boring joke."
"When and what do you need to prepare? Wouldn't it be easier if I helped?"
"What on earth... just how much do you know?"
When I offered my help, her eyebrow twitched slightly.
You do need help, don't you?
"Rather than knowing, I'm curious. How does it make sense for the U.S. Secretary of Defense to move to the World Bank during the Vietnam War? And here you are at a party. It's odd."
"Hmm, are you speculating, or did I fall for your eloquence?"
"Either way, what does it matter? I'm just a shipping magnate who delivers whatever Silverstein sends to the desired location."
"Oh, I like that."
"Just tell me. What, from where, and when do you need it stored?"
Whether it's crude oil or iron ore, anything is fine.
Resource speculation is a classic Jewish business, isn't it?
TL/n -
You can read upto chapter 300 by buying the ebook file at ko-fi.comm/inkbound