The Next Day
The Mercedes sedan carrying Seok-won entered the Kremlin, its red walls looming around them.
The car came to a stop in a wide courtyard paved with dark brown stones, situated in front of the Terem Palace, which serves as the presidential residence.
As Baucus opened the car door, a white man in a suit approached.
"Welcome. My name is Marknotov from the President's Secretariat. His Excellency is waiting, so I will guide you directly to his office," he said, speaking fluent English.
Seok-won gave a small nod and followed Marknotov as he led the way.
Deputy Han Ji-sung, Seok-won's assistant, and Viktor Pavlovich, the head of the Eldorado Fund's Moscow branch, closely trailed behind.
The Terem Palace, used as the official residence of the Russian Tsar since the 17th century, immediately impressed with its lavishness.
The exterior was beautifully decorated with white and orange bricks, and the windows were adorned with colorful stained glass.
Inside, thick red carpets covered the floors completely, and murals painted on the walls and ceilings drew the eye at every turn.
The highlight, however, was the gold embellishments scattered throughout—real gold, not gilding, giving the interior a deep, majestic glow that made everything appear even more luxurious and beautiful.
Walking down the hallway, feeling the weight of centuries of history, Marknotov finally pointed to a large golden door flanked by armed guards.
"This is the office," he said.
With a nod from Marknotov, uniformed guards with holstered pistols held the doors open on either side.
Seok-won turned to Han Ji-sung behind him.
"Deputy Han, remain here and wait," he instructed.
"Yes, sir."
After leaving Deputy Han Ji-sung to wait in the anteroom, Seok-won followed Marknotov, accompanied by Pavlovich, toward the inner office.
Passing through a large, ornately carved door, they entered a spacious office easily exceeding 1,000 square feet.
A massive chandelier hung from the high ceiling, amplifying the sense of grandeur and overwhelming visitors.
Unlike Pavlovich, who trailed behind with a tense expression, Seok-won walked in confidently, completely unflustered.
"Your Excellency, Mr. Park Seok-won, CEO of the Eldorado Fund," Marknotov announced with a slight bow.
President Ivanov, whose face was perpetually flushed from his fondness for strong vodka, was seated on a leather sofa alongside a balding middle-aged man. He rose as Seok-won approached.
Stepping forward decisively, President Ivanov grasped Seok-won's hand firmly and spoke in surprisingly fluent English.
"Welcome to the Kremlin. I understand this is your first time in Moscow—what are your first impressions?"
Momentarily caught off guard by the unexpected question, Seok-won quickly regained his composure and replied in kind.
"I haven't had the chance to explore the city in just one day, but the historical architecture, from the Kremlin itself to other structures dating back to the imperial era, is remarkably well-preserved and has left a strong impression on me."
Ivanov smiled broadly, clearly pleased with the answer.
"Ha ha ha. So you're indeed a Wall Street heavyweight with a discerning eye," he said.
Turning slightly, Ivanov introduced the balding middle-aged man standing behind him.
"This is Vasiliy, our newly appointed Prime Minister."
"Vasiliy, I've heard much about you. It's an honor to meet at last," Seok-won said, offering a polite handshake.
"Pleasure to meet you. I am Park Seok-won," he added.
Prime Minister Vasiliy extended his hand formally, and Seok-won returned the gesture.
He had been appointed following the effective dismissal of Yevgeny Popov, who bore responsibility for the foreign exchange crisis and the resulting moratorium, and was now entrusted with the role of the new Prime Minister.
"This is Branch Director Viktor Pavlovich, who works with me," Seok-won said, indicating Pavlovich beside him.
"Viktor Pavlovich. Pleased to meet you," Pavlovich added.
"Ah, I see. Pleasure to meet you," President Ivanov replied, giving a formal nod, unlike Seok-won's confident approach.
All four spoke fluent English, so no interpreter was needed for the conversation to proceed smoothly.
After Pavlovich exchanged greetings with Prime Minister Vasiliy, the group naturally moved to the sofa, seating Ivanov in the center with the others on either side.
A blonde, blue-eyed secretary placed coffee on the table and exited. Ivanov then turned to Seok-won, his expression full of anticipation.
"I've heard you intend to make substantial investments in Russia," he said.
This was the reason for the warm welcome despite it being their first meeting.
Seok-won nodded subtly in acknowledgment.
"That's correct. We need to discuss specific terms, but we are considering investments on the scale of several tens of billions of dollars."
Ivanov's eyes widened at the mention of such an enormous sum.
Prime Minister Vasiliy, seated beside him, also looked at Seok-won in surprise.
After Russia abruptly declared a moratorium, the world had witnessed a nation, a nuclear power by reputation, crumble almost instantaneously like a sandcastle. Alarmed, the United States and the IMF hastily provided additional large-scale bailout funds.
Yet as time passed, economic turmoil worsened, the exchange rate skyrocketed, and the ruble became worthless, plunging Russia into a seemingly bottomless pit of chaos.
Given these circumstances, it was only natural that Ivanov was astonished to hear that Seok-won intended to invest an amount comparable to the bailout funds Russia had received from the U.S. and IMF.
Leaning forward eagerly, Ivanov's face alight with excitement, he asked,
"Is what you just said true?"
Seok-won nodded calmly, exuding composure.
"You've already seen the mobilization capability of our funds through our previous gold-purchasing transaction."
"Indeed, I have," Ivanov confirmed.
The sight of such a massive sum—$4.5 billion—being deposited in a single transaction instantly elevated the confidence not only of President Ivanov but of the entire Russian government in the Eldorado Fund.
"So, specifically, where and how do you plan to invest?"
Prime Minister Vasiliy, burdened daily by the chaos of the faltering economy, looked at Seok-won as though he had encountered a savior, his eyes sparkling with curiosity.
With a subtle nod from Seok-won, Branch Director Pavlovich, seated beside him, retrieved a file he had prepared in advance from his briefcase and placed it on the wooden table.
"This is a list of companies we are considering for investment. Of course, the approval of the Russian government would come first," Seok-won explained.
Vasiliy opened the file and scanned the listed companies:
Gazprom Yukos Oil Company Alrosa … Sakhalin-II Project Khrunichev UR-500 Proton Rocket License-Out
It was expected that the Russians would naturally be drawn to the most profitable options, given the timing and scale of the investment.
Seeing Gazprom, Yukos, and Alrosa at the top of the list, Vasiliy couldn't help but think, Of course.
Although parting with prime enterprises and resource stakes stung, Russia's current situation left no room to pick and choose—every opportunity mattered.
However, Vasiliy furrowed his brow and lifted his head sharply upon reaching the last item on the list.
"The Khrunichev UR-500 Proton Rocket… Are you referring to a space launch vehicle?"
"That's correct," Seok-won replied.
"No… What exactly do you intend to do with this?"
Prime Minister Vasiliy, wearing a puzzled expression, tilted his head and asked.
The Proton rocket was a massive Russian space launch vehicle, capable of generating a first-stage thrust of 1,061 tons and delivering a payload of 6.3 tons into a geostationary orbit 35,786 kilometers above sea level.
It was natural for Vasiliy to be bewildered—Seok-won was asking not for profitable companies or resource stakes, but for advanced space rocket technology.
Even President Ivanov, who knew well that the Proton had launched the famous Mir space station modules and the International Space Station components, narrowed his eyes at Seok-won in curiosity.
Seok-won, unfazed by their scrutinizing stares, calmly replied.
"Personally, I've always had an interest in space development. When it comes to rocket technology, Russia, as the first country to launch a satellite, is the best, isn't it?"
Russia's pride had already taken a hit after declaring a moratorium, so hearing their technological prowess praised caused Ivanov to unconsciously lift his chin in a subtle display of pride.
"Indeed, our space technology is unmatched. You clearly know your stuff," he said with a small, self-satisfied smile.
Seok-won inwardly stifled a smirk but nodded outwardly as though agreeing.
"I'm planning to establish a private space company for satellite communications. For launches, I want to use the Proton rocket, which is both high-performing and reliable."
"If it's just that, you could simply outsource the launch to us and send your satellites into orbit at a much lower cost," Prime Minister Vasiliy suggested.
Seok-won maintained a polite smile as he responded with skillful diplomacy.
"That may be true, but from a long-term perspective, I believe it's essential to develop independent launch capabilities."
"I see… I understand," Vasiliy said, frowning as he glanced down at the investment list once more.
"I understand your intentions, but the transfer of Proton rocket technology is absolutely impossible."
"May I ask why?"
Seok-won asked calmly, anticipating this very reaction.
"The Proton rocket is a top-secret national strategic technology. It cannot be transferred under any circumstances," Vasiliy replied firmly.
Even though Russia had been somewhat disorganized after the collapse of the Soviet Union, there was no way they would hand over such a critical national strategic technology like a space launch vehicle.
If it were a normal situation, I wouldn't even consider making such a proposal—but now, with the country on the brink of bankruptcy after declaring a moratorium, the circumstances are highly unusual.
Seok-won left the matter in Prime Minister Vasiliy's hands and subtly turned to glance at President Ivanov, who had taken a step back, before continuing the conversation.
"Of course, I understand. But the Proton rocket, first launched in 1967, is already outdated technology, over thirty-one years old," Seok-won began.
While it was true that the rocket was old, it had undergone steady upgrades over the years, making it a fully refined vehicle embodying the essence of Russian space technology.
Seok-won, however, intentionally left that fact unmentioned, deliberately emphasizing that it was a generation-old rocket developed over three decades ago.
"I also understand that a new space launch vehicle project is already underway to replace the Proton. So even if the technology is transferred, it's a generation behind—Russia wouldn't be at a loss, would it?"
"That's a problematic statement. Even if it's outdated technology, a national secret remains a secret," Vasiliy replied firmly.
Repeated persuasion seemed to have little effect, so Seok-won revealed a hidden card that would surely catch their attention.
"We currently hold $3 billion worth of Russian government bonds set to mature this September," he said.
"...."
"If you provide us with a physical Proton rocket along with a full transfer of its technology, we will hand over all of these bonds to you," Seok-won continued.
"...!"
Both men's eyes widened in shock. Even President Ivanov, who had been quietly sitting with his arms folded, now leaned forward, his pupils bright with astonishment as he clarified.
"So, you're saying that you'll pay $3 billion if we transfer the technology?"
Seok-won inwardly smirked at how effectively his bait had taken hold.
Outwardly, however, he nodded with the air of a gentleman, calm and magnanimous.
"That's correct," he confirmed.