Professor Mohan and Carrie had other commitments, so they decided to return to the US first.
The elderly professor spoke with regret.
"I don't know when we'll get to see each other again."
I felt the same reluctance to part ways.
"Next time, I'll come visit you in California."
"You're welcome anytime. Shouldn't you give a lecture in front of the Caltech students?"
"..."
What am I supposed to say in front of those geniuses?
We shared a farewell handshake.
Taek-gyu and I remained in Russia for a few more days, meeting extensively with officials from Gazprom and Rosatom, as well as other business figures.
If Korea has its chaebol, Russia has its oligarchs. These individuals accumulated vast fortunes during the transition from the collapsed Soviet Union and communism to capitalism.
Although President Vysotsky purged the oligarchs after seizing power, much like dismantling chaebol, those who survived by aligning with the regime still wielded immense influence throughout the Russian economy.
As soon as we persuaded President Vysotsky and secured cooperation on the Traveling Wave Reactor, meeting requests suddenly flooded in.
It felt as though Russia's tightly shut gates were flung open all at once by a single word from the president. This must be the advantage of a top-down approach.
Subsidiary companies in which OTK Company held shares began considering entry into the Russian market. Caros decided to test its autonomous driving and battery performance in Russia, M Pizza partnered with a local company to open a branch in Moscow, and OTK Games also initiated contact with local game companies.
The company that showed initiative faster and more distinctly than any other was FaceIt.
Tobey spoke in a voice thick with excitement.
[Russia is a country with as much passion for pornography as the US. It's a porn powerhouse that has produced countless works, and it boasts many actors with outstanding looks and acting skills. In short, it's a porn superpower with limitless potential.]
FaceIt had previously attempted to enter the Russian market. However, despite knocking on the door several times, they had failed to obtain government approval.
The exact reason wasn't stated, but it was presumed to be for the protection of the domestic porn industry. But now, albeit with a few conditions attached, the path had suddenly opened.
Tobey couldn't hide his delight.
[Actually, when I was younger, I enjoyed Russian porn more than American porn. Thanks to that, I was able to pick up some simple Russian conversation.]
"...Is that so."
Is it similar to learning Japanese by watching Japanese AV?
[Don't you like Russian porn too, CEO?]
"..."
How did he know... wait, who is he to jump to conclusions?
[We plan to have meetings with local porn companies soon. You can look forward to seeing what kind of porn we'll produce.]
"Well, I wouldn't exactly say I'm looking forward to it..."
I didn't actively try to stop him. Since he was tackling the Russian expansion with such enthusiasm, I should cheer him on.
I hung up the phone.
Taek-gyu, with his arms crossed, remarked.
"Gapbunreo."
"What's that supposed to mean?"
"It means 'Suddenly the atmosphere is Russia'."
Just as he said, there was suddenly a palpable buzz around Russia. The Ruble, which had been plummeting, hit rock bottom and rebounded. Korean business leaders, sensing the shift, quickly rushed to Russia. Chairman Im Jin-yong canceled his existing schedule and flew to Moscow on his private jet.
Companies like Seosung, Eunsung, and CL had already established a presence in Russia long ago.
No matter how troubled the Russian economy might be, its sheer size meant its GDP was comparable to South Korea's. It remained a land of opportunity.
Once the details were ironed out, I met with the president of Rosatom and formally signed the contract. The contract was drawn up in both English and Russian.
Before leaving Russia, President Vysotsky sent a gift to my hotel. Having completed our schedule, we returned to Korea.
***
Upon arriving in Korea, we headed straight for the Golden Gate Building.
No sooner had we sat down than we received an earful from Hyun-joo noona and Ellie. Both looked completely drained from being swamped with work.
I heard they had pulled several all-nighters with the staff, barely sleeping as they reviewed the contract down to the last detail.
Ellie, her eyes shadowed with dark circles, looked at me and asked.
"Did you bring gifts?"
I nodded confidently.
"Yes, I did."
"Really? What is it?"
Ellie happily took the gift and opened the wrapping. However, I saw her expression quickly turn cold.
"Hmm, Matryoshka dolls."
"Yes. They're a specialty product made by a Russian artisan."
"I see. They are cute. Though they seem like the kind of gift a preschooler would like."
"Do you like it?"
"Of course. It's the thought that counts with gifts, after all."
"..."
Her expression doesn't look like she likes it at all.
I quickly pulled a book from my bag and held it out.
"Ah! That was just a souvenir. This is the real gift."
Taking it, Ellie paused for a moment. Don't tell me she doesn't like this either?
Just as I was thinking that, she cried out in delight.
"No way! It's a first edition of Anna Karenina! How on earth did you get this?"
"Well..."
I received it as a gift from President Vysotsky.
I can't read it since it's in Russian, but its value must be considerable. Isn't this the kind of book you'd find in a Russian literature museum?
Come to think of it, how did President Vysotsky acquire this? Did he pry it away from an oligarch's collection or something?
"Do you like it?"
"Of course! I absolutely love it! How did you know I like this novel?"
"Well..."
It's a novel most people like, although perhaps not many have actually read it cover to cover.
"Thank you, Jin-hoo!" Ellie hugged me and kissed me.
Hyun-joo noona, sipping her coffee, commented dryly.
"This is the office. If you're going to do more, do it at home."
Hearing that made me suddenly eager to go home.
"So, is that really worth investing $1 billion?" Hyun-joo noona asked.
As I was still preoccupied with the kiss, Taek-gyu answered for me.
"We don't know yet. We won't know for sure until the experiment succeeds, right?"
The Traveling Wave Reactor can also dramatically shorten construction times compared to existing nuclear plants. If the experiment is successful, commercialization could proceed swiftly.
Hyun-joo noona pressed her forehead with her fingers, looking troubled.
"Suddenly TWR..."
"It's good technology," I chimed in. "It could solve our energy problems until the efficiency of renewable energy improves and other new technologies emerge."
"If it succeeds, that is," she conceded. "Anyway, it's not necessarily a bad investment. Global demand for nuclear power is continuously increasing."
This is driven by rising electricity demand.
Currently, 417 nuclear reactors are operating worldwide. Around 40 countries are considering future nuclear plant construction. About 500 reactors are under review, and of those, a staggering 150 are already in the construction planning stages.
If TWR is successfully developed, it could potentially dominate this future market!
If this happens, wouldn't Rosatom surpass EDF to become the world's largest energy company?
"Anyway, the Russian economy seems to be reviving somewhat thanks to this investment," Hyun-joo noona noted.
President Vysotsky was focusing daily on the economy, personally promoting Russian nuclear power sales, heavily emphasizing the investment received from OTK Company.
"South Korea probably isn't too happy about it, though. Did you see the protesters in front of the company on your way in?"
"Yes," I replied.
I already knew about it from the news, but seeing it firsthand made it feel more real.
A protest was in full swing right in front of the company building. This time, it was environmental groups. They held pickets with slogans like 'Oppose Nuclear Power,' 'Eliminate Nuclear Materials,' 'Nuclear-Free Korean Peninsula,' and 'Expand Renewable Energy.' They were also collecting signatures from passing citizens in support of the nuclear phase-out.
"Why on earth are there so many protests held right there? Is it some kind of famous protest spot?" I wondered aloud.
Countless protest groups had passed through that spot over time. It was almost embarrassing for the neighboring companies.
"Well, expressing one's opinion in a democratic society is a good thing, I suppose," Hyun-joo noona said, perhaps with a hint of resignation.
The world's largest environmental organization, Greenpeace, issued an official statement:
[The claim that nuclear power is eco-friendly is a complete lie! OTK Company must immediately cease its investment in nuclear power and instead focus on expanding renewable energy!]
Greenpeace dislikes both nuclear and thermal power generation. Their preferred solution is renewable energy. Greenpeace and various other environmental groups have persistently demanded that governments increase solar, wind, and hydroelectric power generation.
However, this isn't as simple as it sounds. Hydropower potential is limited by geography, and solar and wind power suffer from lower generation efficiency.
Other methods, like producing ethanol by fermenting grains, are being discussed, but they generally lack economic viability.
If it were truly that simple, KEPCO (Korea Electric Power Corporation) would have likely already shut down all its thermal and nuclear plants and gone all-in on solar and wind projects.
Even the government, while advocating for the nuclear phase-out, hasn't actually been able to touch the currently operating nuclear plants.
Hyun-joo noona shook her head. "The current government must be in a rather awkward position right now."
***
The nuclear phase-out was a core campaign pledge of President Heo Chang-min, and he had repeatedly vowed to push it forward unwaveringly.
However, the situation had evolved since then.
Germany, pursuing its phase-out, began importing large quantities of Russian natural gas. Taiwan abandoned its phase-out policy after a devastating blackout affected two-thirds of the island. Japan, the site of the Fukushima disaster that highlighted the dangers of nuclear power to the world, was not only restarting existing reactors but also considering the construction of new ones.
Yet, South Korea steadfastly declared its commitment to the phase-out.
According to the government's plan, all nuclear power plants in Korea would cease operation in approximately 50 years.
As South Korea abandoned new domestic nuclear plant construction, its nuclear industry companies had to seek other avenues. Fortunately, there was a surge in orders for nuclear plants from overseas.
The government pledged active support for nuclear exports, but the prospects weren't particularly bright. Building a nuclear power plant isn't the end of the story. Once built, they operate for decades, requiring continuous maintenance and management.
However, according to the government's roadmap, South Korea would complete its nuclear phase-out during that operational period.
From the perspective of countries looking to build nuclear plants, they inevitably favor nations with a sustained commitment to the nuclear industry.
It was precisely in this context that OTK Company joined hands with Rosatom. The timing was particularly unfortunate.
The Czech Republic had confirmed plans to build two 1000 MW-class nuclear reactors in Dukovany and other locations. Including future maintenance, the total project value was around $20 billion.
Global nuclear companies engaged in fierce competition to win the bid, and South Korea mounted an all-out effort, with government backing.
Thanks to these efforts, South Korea, along with France, was considered a leading contender. Czech academics and government officials were scheduled to visit South Korea to tour KEPCO facilities and the Kori Nuclear Power Plant. However, upon the news of OTK Company's investment in Rosatom, the visit to South Korea was abruptly canceled. Instead, they redirected their trip to Russia's Kursk Nuclear Power Plant.
India, the UK, and Poland, also pursuing new nuclear plant construction, showed heightened interest in Russian nuclear technology.
Rumors began circulating that South Korea's nuclear export prospects were effectively dead, and the stock prices of related companies like KEPCO and Jusan Construction plummeted by over 10 percent.
Yeon Nakyeong, leader of the opposition Liberty Korea Party, went on the offensive.
"Even the world's top investor, Kang Jin-hoo, is investing in nuclear technology! While the whole world is building nuclear plants and strengthening nuclear technology capabilities, only South Korea has declared a phase-out. Now that it has become clear that the nuclear phase-out is an unfeasible fiction, the President must personally step forward, admit the policy was flawed, and bow his head in apology to the people!"
Fierce debates erupted online.
- Wow! The Liberty Korea Party is siding with Kang Jin-hoo!
- What is Kang Jin-hoo, left or right? Why is he interfering with government policy?
- Judging by Kang Jin-hoo's actions so far, he's a conservative pretending to be a leftist on the surface.
- Typical fashion leftist, Gangnam leftist. In reality, he's an old-guard conservative.
- Nuclear power isn't eco-friendly and carries the risk of radiation contamination. We must eliminate nuclear plants.
- So thermal power is eco-friendly? You can say that while looking at the fine dust pollution?
- The point isn't thermal power, it's increasing renewable energy like hydro, wind, and solar!
- LOL, Korea isn't Norway. How many places are suitable for hydropower? Should we build a Hoover Dam?
- To replace one nuclear plant with solar power, you'd have to clear-cut national forests and install solar panels. Which one is truly more eco-friendly?
- Nuclear plants are concentrated in one place, allowing for efficient management. Solar and wind require transmission lines for every installation site, which is also not easy.
- You guys won't wake up until a nuclear plant actually explodes.
- If nuclear power is so bad, why are the US, Russia, and France building so many?
- Can you say that after seeing Chernobyl and Fukushima? The US and Russia at least have vast territories. Korea is small and densely populated; one nuclear accident would be catastrophic.
- Even if we stop building new reactors and shut down old ones, as long as even one reactor remains on the Korean peninsula, isn't it still dangerous anyway?
- China is planning to build offshore nuclear plants in the West Sea right now. Even if Korea phases out nuclear power, if one explodes in China, we're doomed.
Public opinion on the nuclear phase-out was sharply divided. Generally, since the progressive government was pushing the phase-out, liberals tended to oppose nuclear power, while conservatives tended to support it.
The Blue House and the ruling party found themselves in an awkward predicament.
Where an investor decides to put their money is their own prerogative. But out of all industries, it had to be nuclear power generation.
Had it been any other business figure, they likely would have consulted closely with the government before making such a decision. But Kang Jin-hoo had proceeded without giving the government so much as a heads-up.
The South Korean government had only learned about Kang Jin-hoo's contact with Professor Petrov at Moscow University and his meeting with President Vysotsky at the Kremlin through Russian announcements.
Objectively speaking, since OTK Company is technically an American corporation, South Korea didn't really have grounds to dictate its investment decisions. However, the CEO himself is undeniably Korean.
Far from aligning with government policy, he had invested in a diametrically opposed industry, so it was natural for the government to be displeased.