As the political controversy surrounding the nuclear phase-out intensified day by day, President Heo Chang-min stated his position during a cabinet meeting.
"There is no reason to oppose the emergence of safer and more efficient technology. The government will continue the nuclear phase-out policy as pledged, but we will actively support our companies' development of new technologies and their overseas exports. I urge the National Assembly to end the consuming debate and promptly process the backlog of livelihood bills."
However, far from subsiding, the controversy grew even larger.
The Liberty Korea Party, which had persistently demanded the abolition of the nuclear phase-out policy, unleashed another barrage of criticism. Environmental and civic groups strongly protested, claiming it was effectively an abandonment of the nuclear phase-out policy.
- Wow! Now it's a three-track strategy!
- So, are they phasing out nuclear power or not?
- Didn't the Ministry of Science and ICT cut all the budget for next-gen nuclear tech development? They're going to pursue it again now?
- Why develop the technology if you're phasing it out? Am I the only one who doesn't get this?
- Didn't they say Prime Minister Okazaki is rushing to Russia right now to meet President Vysotsky? What on earth is Korea doing? We have Kang Jin-hoo, why can't we make use of him?!
- South Korea possesses Kang Jin-hoo!
- But it also possesses Heo Chang-min. We're probably doomed...
- If they're going to keep using nuclear power, they shouldn't talk about phasing it out. If they are phasing it out, they should ban exports and technology development too.
- LOL, we'll make Korea a country free from nuclear risks, but we'll build plenty for foreign countries instead!
- It's just a nuclear phase-out in name only. In reality, the number of operating reactors will increase under this administration.
- Enough, let's just arrest Kang Jin-hoo first.
***
In Russia, the construction of the reactor for the TWR experiment proceeded at an incredibly rapid pace, enough to amaze the Western world.
Since we were footing the entire bill for this experiment, we received real-time progress reports.
Taekgyu expressed his amazement.
"What is this, some kind of Chollima speed campaign?"
"Well, pushing ahead without looking back once a decision is made is characteristic of countries that used to be communist states."
The Russian government and Rosatom spared no support, and Professor Petrov's research team expressed confidence that they would definitely succeed in the experiment.
I called Warren Buffett.
"I know you must be busy, is this a good time to talk?"
He replied in a cheerful voice.
[Of course.]
We first exchanged pleasantries.
[I was very surprised to see your investment in Professor Petrov's research this time.]
"I heard you decided on additional investment in MegaPower."
He was known to be very interested in the energy industry, and indeed, Berkshire Hathaway was investing in MegaPower. And this time, they decided to invest an additional $200 million.
[I had been delaying investment after the cooperation with China fell through, but I made the decision after seeing your investment, CEO Kang. It seems I still have more to learn.]
Being flexible in thought even at his age is a tremendous advantage.
He was originally famous for not investing in IT. However, for several years now, he has been investing heavily in Enple and Seosung Electronics. Having owned several insurance companies, he was also negative about autonomous vehicles, but now he has been the quickest to launch related insurance products.
Some criticize him for changing his tune, but it's right that thinking should change as circumstances change. What was right then might be wrong now, or vice versa – such cases are plentiful.
MegaPower, having received the additional investment, applied for permission to conduct reactor experiments within the United States, and the US government began its review. In China, even President Zhang Pinghua stepped forward, declaring they would build next-generation nuclear reactors with Chinese technology.
Suddenly, it seemed like a technology race had ignited.
[Competition between sides is a good thing. Whichever side develops it first, it will benefit many people.]
Unfortunately, South Korea was excluded from this competition.
Although not TWR, research and development to improve the efficiency and safety of nuclear power plants had been ongoing, but after the nuclear phase-out policy, the related budgets were all cut, halting R&D.
I hesitated for a moment, then finally decided to speak up.
"Actually, I have a concern these days. Could I perhaps ask for your advice?"
[What is it? Please speak comfortably.]
I explained the worry that had been on my mind for the past few days.
Although the positions were reversed now, he was once the world's second-richest man and the wealthiest investor. He also possessed experience and wisdom incomparable to mine.
[The Korean government's position is not entirely incomprehensible. Huge capital itself carries the risk of threatening democracy. In the US, corporate political donations are legal. Therefore, it's common for politicians who receive corporate support to work for corporate interests.]
"Super PACs, you mean?"
American elections are practically run on money. It's almost impossible even to run for office without money. But there's no such thing as a free lunch, and those who accept favors feel obligated to return them.
If elected with money from a certain company, one naturally tends to implement policies favorable to that company.
[Though I don't personally like him, Ronald Stamper is the only president elected without using Super PACs. I rate that highly.]
Although OTK Company had helped, it wasn't through direct political donations. We merely built factories and created jobs.
That's why, even after becoming president, Ronald could act freely without kowtowing to corporations. Declaring emergency measures before the Big One and evacuating the San Francisco and Silicon Valley areas was a prime example.
All corporations protested, but he ignored them. If Diane had been president, she surely couldn't have made such a decision.
[Everyone thinks money shouldn't sway democracy, but in reality, it happens in every country. It can't be said that your influence, CEO Kang, played no part in the change of government in Korea.]
"That's true."
Until just before the presidential election, the Liberty Korea Party candidate Lee Jeong-hye's approval ratings were much higher. If I hadn't exposed the PAS airbag defect issue at the last minute, wouldn't she have comfortably won the presidency?
"Whether I want it or not, even without doing anything special, I will continue to influence politics."
[That's right. Some will want your help, and others will try to keep you in check. You have no choice but to find your own way to deal with that.]
I recalled when I started investing with Taekgyu.
At first, I simply enjoyed succeeding in investments and making money. But when I foresaw the Big One, a thought suddenly struck me.
Could there be some reason why I gained this ability and earned so much money?
As I remained silent, Warren Buffett spoke with a smile.
[There's no need to be too hasty. You are still young, CEO Kang, and have plenty of time to find the answer. Sometimes, taking time to contemplate is the way to solve a problem.]
Although I didn't get a definitive answer, just talking about it felt somewhat relieving.
"May I contact you often?"
[Of course. You are always welcome.]
***
Despite the Eunsung Auto union's general strike and fierce opposition, the electric vehicle industrial complex launched in Gunsan last year.
While the industrial complex was being developed, supplier companies moved in one after another. As quality jobs were being newly created, the local government's anticipation was extremely high.
The actual effects appeared quickly. After the GM plant closure, Gunsan, which had only seen its population decrease, started experiencing a net inflow. This was thanks to young people moving in for jobs.
OTK Company, Eunsung Auto Group, and Seosung Group invested together in this complex. It has the capacity to produce a minimum of 300,000 vehicles annually, potentially up to 500,000. This was a significant increase from the originally planned 200,000-unit scale, and the factory is still undergoing expansion.
Even as global car sales are decreasing, sales of autonomous electric vehicles are exploding.
This was both a crisis and an opportunity for related companies.
CarOS, unknown just a few years ago, rose to become the world's largest automaker, while Nikola, once valued higher than GM, collapsed.
Currently, three companies produce autonomous electric vehicles:
CarOS, GM, and Ford. Among these, GM and Ford produce EVs through technology partnerships with OTK Company.
Similarly, in the Gunsan EV industrial complex, Eunsung Auto produces the cars, TS Company produces the batteries, and Seosung Electronics produces the electrical components. And CarOS's software is installed in them.
Regulations related to autonomous driving have also been eased, and driving tests and data collection in Korea have been completed. The Korean government requested that the servers be installed domestically, but we refused as it was practically unreasonable.
Although the industrial complex development isn't finished and the factory is still expanding, taking over the existing GM plant and replacing the internal facilities with EV production lines allowed operations to start much faster than expected.
Initially, 5,000 units will be produced per month, with plans to increase this to over 10,000 by year-end. Once the factory expansion is complete next year, they should be able to produce 300,000 units annually as planned.
The Eunsung Auto union protested again, claiming wage leveling downwards and labor oppression, but the atmosphere was one where nobody cared. There was even little support from within Eunsung Auto itself.
Workers at the EV industrial complex do not belong to the Eunsung Auto union. Once EVs start being produced here, the existing domestic plants will immediately face competition based on productivity.
Even if production volume decreases, basic wages won't be cut, nor will there be layoffs, but overtime pay will significantly decrease. Naturally, they can't help but feel a sense of crisis.
The company announced plans to convert existing plants into EV factories as well, but as always, the union immediately opposed it first.
In any case, the start of operations at the EV industrial complex was like welcome rain in a drought for the government, which was struggling with rising unemployment rates.
The government heavily promoted it, touting the first car factory built in Korea in nearly 20 years, and the approval ratings for the Blue House and the ruling party, which had been falling due to the nuclear phase-out controversy, rebounded significantly.
Taekgyu tilted his head.
"Since they recycled the GM factory, it's not really newly built, is it?"
"A very accurate point."
As if irritated by the government boasting about creating jobs, conservative media outlets tried to downplay it, saying they just changed the sign.
Well, both sides have a point.
A commemorative ceremony is scheduled at the industrial complex to mark the production of the first car.
The North Jeolla Province Governor, the Mayor of Gunsan, local National Assembly members, and city council members have all confirmed attendance, and the President himself decided to come down.
"What did the politicians even do to deserve this?"
"Seems they think differently."
From the Blue House to the ruling and opposition parties, none spared self-praise, claiming it was thanks to their efforts.
Darrell was originally scheduled to attend, but things are incredibly busy on his end with various matters. So, I decided to go instead.
I left company matters to Taekgyu and drove down to Gunsan.
***
Numerous politicians had already arrived at the industrial complex. They wandered around, shaking hands with people. And wherever there was a camera, they inevitably stuck their faces in front of it.
"..."
Are they attention seekers, or what?
The workers and local residents gathered for the event were all joyful.
As I felt when I visited Detroit before, the best thing a businessperson can do is create quality jobs. Supporting that is the government's role.
As I got out of the car, politicians and supplier company presidents rushed to shake my hand.
"Haha, nice to meet you. I am Gu Chang-min, the Mayor of Gunsan."
"It's an honor to meet you."
"We sincerely thank you for giving our company this opportunity."
Is this the legendary 'endless requests for handshakes' I've only heard about?
Before the event began, Chairman Im Jin-yong and Chairman Han Chan-young arrived, followed by President Heo Chang-min.
This was the first time since the Blue House meeting some time ago.
We exchanged greetings.
"It's been a while."
President Heo Chang-min smiled warmly and firmly grasped my hand.
"To meet you again here, CEO Kang Jin-hoo."
(TL/n: Yo, your not so favourite TL is here to give you another explanation. The term "Chollima" is being used metaphorically.
Chollima is a mythical winged horse from East Asian folklore (originating in Chinese classics). It's said to be incredibly fast, capable of traveling a thousand li (roughly 400 km or 250 miles) in a single day. It represents great speed, talent, and capability.)