The Lithium Triangle.
More than half of the world's lithium reserves were concentrated here: Bolivia, Argentina, and Chile.
Yet, at this time, global interest in the Lithium Triangle was still limited.
This was mainly because extracting lithium from salt flats like the Uyuni Salt Desert was inefficient due to high impurity levels.
But the moment the smartphone and electric vehicle era arrived, lithium demand skyrocketed exponentially, making even low-efficiency extraction economically viable.
Moreover, as lithium extraction technologies improved, efficiency steadily increased.
"Vice Chairman, as you instructed, we're currently negotiating with lithium producers in Latin America, including the Uyuni Desert. We've secured mining rights to some deposits, and by the end of this month, we expect to acquire operational rights for over ten additional sites."
"How long are these operational rights valid?"
"We have exploration and development rights for seven years and production rights for twenty years."
"Twenty years is too short. Even if it costs more, extend it to at least thirty years, preferably fifty."
Twenty years was insufficient.
Twenty years from now, smartphones and electric cars would be everywhere.
Lithium prices would begin to skyrocket, but we'd be forced to hand over the mining rights to Latin American countries.
We couldn't just do all the exploration and development ourselves only to hand the rights off to some stranger.
Spending more money to extend the term was essential for greater profit.
"We can extend the term, but the price of the rights would increase significantly. We've already spent over two trillion won."
"Only that much? Use the internal reserves of Taewoo Electronics, Taewoo Telecommunications, and Taewoo Motors. Secure those lithium mining rights for at least thirty years."
Taewoo Group's internal reserves overflowed.
Among Korean companies, we invested heavily in dividends and stock buybacks, but we also earned enough to accumulate over 30 trillion won in reserves.
Still, that wasn't a huge amount.
The reserves were meant for the group's future.
They were a buffer for times of economic crisis, like the foreign exchange crisis.
If those reserves ran dry, we'd be forced to operate the group in debt, just like before.
"Vice Chairman, if we use the reserves to buy mines, stock prices may drop. Mining is essentially gambling. If we invest too much of the group's future funds in a gamble, shareholders won't be happy."
"They call it gambling because they don't understand lithium's value. Lithium isn't gambling—it's like a gold mine. Would it be foolish to know there's gold buried underground and not dig it up?"
"Understood, Vice Chairman. Besides lithium mines, we're purchasing rights to various other resource mines. We can use all our reserves to secure these mining rights. The amount involved is on a national scale, not just a corporate one."
Right now, it was indeed a loss-making business.
It might take over ten years before seeing any profit.
But after ten years, the returns could be more than tenfold. How could we not invest?
In truth, making huge profits from raw materials wasn't the primary goal.
The investment was meant to prevent supply chain issues from stalling Taewoo Group's growth.
"The reserves will keep accumulating every quarter, so shareholders won't worry too much. More importantly, coordinate with the Korean government and the Latin American negotiation teams to focus on securing even more mining rights. I will take full responsibility!"
"Understood. Also, Taewoo Trading is finally buzzing again. The business volume this quarter equals what we've done over the past ten years combined. Everyone is working late nights to keep up."
"From now on, Taewoo Trading will become a core affiliate of the Taewoo Group. So please take good care of the pride of the trading division employees."
Back in the foreign exchange crisis era, trading was the best job you could have.
But lately, the prestige of the trading division had faded, and the pride of those high-skilled "trading men" had taken a hit.
After all, pride is ultimately about money and promotions.
If the trading division's business grows, promotion opportunities increase.
And if bonuses are generous, the trading men regain their pride and work hard again.
"We'll pay the same performance bonuses as Taewoo Electronics."
"Plus, Wall Street investment firms will invest in mining rights proportional to what Taewoo Group invests, so don't worry too much."
"This will really become a national-level project for securing raw materials."
Taewoo Group was investing 20 trillion won, and SAVE Investment Company was putting in another 20 trillion.
Investing 40 trillion won a year into raw material mines was something even most countries would struggle to do.
But this was just the beginning.
We planned to increase the investment amount every year and acquire mining rights in various countries.
The president, suspended by the National Assembly, faced the first hearing on March 30.
Many supporters protested in front of the Constitutional Court, but the president did not attend the public impeachment trial.
This sparked another fierce storm in the political arena.
All eyes in Yeouido—and across the nation—were fixed on the impeachment trial.
Meanwhile, we received very good news.
"The Korea-Chile FTA has come into effect!"
"It barely made the news."
"There was significant opposition, so this is truly fortunate for us. The government is also actively supporting our efforts."
"We need to show results from the FTA, and since we brought these results ourselves, we're looking good."
"The Prime Minister, acting as the president, is personally overseeing the mining rights issue. He's even been calling Latin American governments, including Chile."
The acting Prime Minister was, after all, a politician.
For the sake of the next presidential election or his future career, he needed achievements.
Any progress made while the president was sidelined would become his own legacy, so he was very proactive.
"This is a positive development."
"Oh! And I received word that a woman named Lisa from the U.S. will visit Korea tomorrow."
"She's finally coming!"
I jumped up from my seat.
I couldn't stay still upon hearing that Director Lisa, whom we had been eagerly waiting for, was finally arriving in Korea.
"Start inspecting Taewoo Electronics, Taewoo Semiconductor, and Taewoo IT. Even if you have to stay up all night, get everything ready in the best possible condition."
"Who is this Lisa to warrant such a reaction?"
"She's the future president of Taewoo Electronics. Also, a talent who will oversee semiconductor management."
"In that case, I'll personally visit the affiliates and start managing."
The president's seat at Taewoo Electronics couldn't remain vacant for long.
The former president, Woo Sung-il, had moved to head Taewoo Distribution, and the vacant position needed to be filled quickly by a capable person.
If Lisa declined the position,
I would have to manage Taewoo Electronics myself until we found someone suitable, so I absolutely had to secure her.
The next day.
I went personally to the hotel where Lisa was staying to greet her.
In recruiting talent, sincerity is paramount, and what could be more sincere than the vice chairman himself coming to meet a guest right at the hotel?
"Welcome to Korea!"
"Vice Chairman, you came out to greet me? I thought I'd only get to meet you at the company."
"Of course I must come myself. We have a very important guest here. So, how do you like the hotel in Korea?"
"Thanks to Taewoo Group's hospitality, I was able to rest comfortably."
"We'll make sure you're equally comfortable at Taewoo Electronics."
I opened the car door for her personally.
Lisa seemed a bit embarrassed by such an excessive gesture, but it only reflected how much I wanted to bring her to Taewoo Electronics.
"This is Taewoo Electronics. Feel free to look around and even try operating some devices."
"There are many products I've never seen before."
Taewoo Electronics' R&D lab.
Except for the researchers, only a few people had access to this secure area.
But to recruit her, I threw the doors wide open.
As a semiconductor expert, Lisa examined the products closely.
She seemed to like quite a few of them, spending over two hours in the lab.
"Taewoo Electronics' technology is impressive. Now I understand why Apple and the Arnault family chose to collaborate with you."
"I'm glad you think so. But these products still have many shortcomings. I hope Director Lisa will help fill those gaps."
"I'll hold off on comments for now. I'll talk more after I've seen Taewoo Semiconductor and IT."
She was cautious with her words.
Respecting her careful consideration, I didn't press further and guided her to Taewoo Semiconductor.
"Please take your time."
"I'll take a brief look then."
At Taewoo Semiconductor, she silently toured the factory.
I discreetly nudged Vice President Wei closer to her.
They were both from Taiwan and semiconductor experts, so I thought they'd hit it off.
But Lisa only exchanged light greetings with Wei and didn't engage further.
"Only Taewoo IT remains. I'll speak after seeing that as well."
"Then please allow me to guide you."
Even though meal time had long passed, no one brought up eating.
Inside the moving car, the serious atmosphere continued without a single word.
"This is Taewoo IT. Unlike Taewoo Electronics or Semiconductor, the office here has a much more relaxed vibe."
"It feels like something out of Silicon Valley—both the building and the atmosphere."
"Most developers communicate comfortably in English, so feel free to look around."
"I'll take a quick tour on my own then."
She smiled as she mingled with the developers.
They talked about ongoing projects, shared visions for the future, and discussed the interplay between semiconductor advancements and IT technology.
After quite some time, she returned from her conversations.
Although she'd been smiling the whole time while talking with the developers, the moment she turned away, the smile vanished from her lips.
"Hm, Taewoo Group is definitely a good company, but it's not really what I'm looking for. Our visions seem quite different, and the people here seem too rigid to follow my lead."
"Are you saying you're likely to decline the Taewoo Electronics president position?"
"Probably… yes."
Was I about to lose the perfect candidate?
Desperately, I checked all her detailed info and notes, but nothing seemed like a way to change her mind.
At that moment, a spark of hope approached.
Cheon Min-jung, who could be considered the real person in charge of Taewoo IT, was coming toward us.
"While you were on your overseas trip, Vice Chairman, I came up with several ideas—especially related to AI algorithms. The ideas are about…"
Was Cheon Min-jung only talking to me?
Even with Lisa right beside me, Cheon Min-jung spoke fluently and without hesitation, pouring out her ideas.
I didn't interrupt her—instead, I listened carefully along with Lisa to the ideas she had come up with.
TL/n -
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