Chapter 65
Chapter 65
Translation: Godtl
"What about the logistics reorganization? Is everything proceeding smoothly?"
"Yes. It's as if these bastards had been waiting for this day—they're accepting the takeover and transferring all the cargo at lightning speed."
It was truly a bitter pill to swallow.
Tianjin Port wasn't just any logistics hub—it was the core of northern China's supply chain.
Known as the gateway for imports and exports, it was one of the largest ports in the northern region, handling the bulk of Beijing and its surrounding areas' trade volume.
The area around Tianjin Port was particularly significant, with numerous industrial complexes and special economic zones housing manufacturing plants and concentrated logistics networks, making it a critical node in the supply chain.
It wasn't for nothing that the Yonghae Alliance had poured money into collaborating with the Chinese government to wrest control of Tianjin Port.
Even though they had sold it at a fair price, in all honesty, this was a strategic stronghold they should never have relinquished—not even for several times its value.
"This is all because of our incompetence."
Yet in the end, they had lost that stronghold.
This pained the hearts of Gwangun Shipping's executives, including President Kim Du-yeong.
"If we'd been more capable, we wouldn't have had to suffer this humiliation with our eyes wide open."
"But... President Jeong, did President Jeong Jin-ho really tell you to hand it over just like that?"
"I was under the impression President Jeong had extremely powerful connections on the Chinese side."
President Jeong had practically strong-armed the Chinese government into paying a fair price for the port operations rights.
Especially after witnessing the behavior of the Chinese officials who came to negotiate with Gwangun Shipping, it became clear:
Jeong Jin-ho indeed had solid connections in China!
They had pinned their hopes on those very connections.
Yet President Jeong chose not to fight.
He simply handed over everything at Tianjin Port without resistance.
Even though he knew full well how crucial that hub was to Gwangun Shipping.
"Don't you understand?"
"Pardon?"
"Think about it. When we initially refused to surrender Tianjin Port, didn't they threaten to have me arrested by public security or whatnot? Frankly speaking, what harm would it do to Gwangun Shipping if I got detained?"
"Well..."
"As long as President Jeong stands behind us, what does it matter if a mere pawn like me gets taken away? The real question is—what happens after I'm gone? Do you all think you'd remain unscathed?"
"..."
If President Kim Du-yeong were taken away, his successor wouldn't be able to hold the position securely either. The cycle would continue until eventually, no one would be left.
"To put it bluntly, even if all of us were arrested, they could just fill these vacancies with new people. But President Jeong didn't let that happen."
"But why would he make such a choice...?"
"He was protecting us. Even at the cost of a massive loss."
"!?"
Only then did the executives grasp the profound meaning behind President Jeong's decision.
"But what have we done to deserve...?"
"As I said earlier, in battles like these, we're nothing but pawns. Yet President Jeong doesn't treat us as mere chess pieces—he respects us as human beings, as members of this company."
A tidal wave of emotion swept through the room.
Jeong Jin-ho could have fought.
With his connections in China, he could have joined forces to counterattack and potentially break free from the Yonghae Alliance's pressure.
Yet he chose not to.
The image of his executives—shrimps whose backs would burst in a battle of whales—had weighed on his mind.
So he abandoned the fight and surrendered the stronghold.
"Anyone else would have pursued their own interests without a second thought for those beneath them..."
"How can someone so young possess such magnanimity?"
"Truly, he's cut from a different cloth."
He was a figure on an entirely different level from any executive they'd ever encountered.
Despite his youth, he prioritized people over pure corporate or personal gain.
Now they understood why loyal subjects of old would dedicate their hearts to a virtuous ruler.
When someone moves you this deeply, you can't help but offer them your very heart.
"So from now on, let's do better. Let's ensure such shame never befalls us again."
"Yes, President."
The executives' eyes burned with fervor—all directed toward Jeong Jin-ho, though he wasn't present.
＊＊＊
"President. As both Enflix and our internal projections anticipated, we're on track to smoothly achieve $12 billion in revenue this year. Once this year's settlement is complete, they've indicated plans to prioritize special dividend payments to our division first."
"Our dividend will be determined based on how much net profit comes from those $12 billion."
Since we had contracted for special preferred shares, the dividends could range from hundreds of billions to potentially trillions of won.
In short, Enflix had now become Gwangun's cash cow.
"And as you advised, sir, we've decided to push the drama 'Paper Tower' aggressively, just like we did with 'Mysterious Story.'"
What matters for Enflix is what comes next.
It was great that they struck gold with 'Mysterious Story,' but they mustn't forget this is a subscription-based streaming service.
In other words, they need dramas compelling enough to keep people subscribed.
"However, there were apparently many negative opinions about 'Paper Tower' as well. It's about robbers targeting a major bank, and by the drama's end, these criminals committing felonies are portrayed almost like heroes."
I'd skimmed the synopsis of 'Paper Tower,' but truthfully, I didn't know the details.
"While 'Mysterious Story' was doing exceptionally well, some argued—'Does it make sense to portray criminals as if they were champions of justice rather than showing poetic justice?'—which delayed the investment."
"So that's when I stepped in?"
"Yes. Once you ordered us to go all-in on this project, even those who had opposed it initially became completely devoted to it."
Watching how the Enflix team operated didn't particularly worry me.
Even before 'Mysterious Story' was released, they had meticulously crafted everything from trailers to promotional posters to emotionally engage viewers, ensuring its success through marketing.
They'd likely do the same with this project.
Moreover, when I first invested in Enflix, I hadn't anticipated the business would flourish to this extent.
Who could have predicted that a streaming subscription site would rake in $12 billion in such a short time?
If this project also becomes a massive hit, I have no intention of withdrawing my investment from Enflix anytime soon.
After all, it's a place where money accumulates on its own if you just leave it there.
"And... the real issue lies with shipping."
Chief Seo's voice grew heavy.
"With Deutsche Bank collapsing, Kangsung Group is seizing a position there and plans to collaborate with semiconductor companies to establish a new foundry business. That's why TSNC is monitoring the situation very cautiously."
Which was why they had cut ties with us.
"The problem is that the Yonghae Alliance's influence is greater than expected, and rumors about Gwangun Shipping's crisis are already circulating. Shipping alliances are popping up everywhere, and the Yonghae Alliance is backing them."
As a result, cargo volumes heading to Gwangun Shipping have been gradually declining.
"On top of that, with Tianjin Port also falling under the Yonghae Alliance's control, it essentially became the final blow. Taiwan has already shifted all its logistics, including TSNC's operations, to the Yonghae Alliance."
One regret about TSNC is that what should have been a corporate competition has escalated into a nationalistic sentiment battle.
Before, anti-Korean sentiment had spread in Taiwan before quieting down, but now, with news that Kangsung Group is trying to strangle TSNC, that sentiment has resurfaced.
As a result, most Taiwanese companies that had been using Gwangun Shipping have now joined hands with the Yonghae Alliance.
And that's not all.
Companies like Ample and Nvidia, which had been collaborating with TSNC, have also announced they will no longer use Gwangun Shipping.
Partly due to pressure from the Yonghae Alliance, but also because they're now cooperating with Kangsung Group, our competitor.
At this point, it feels like we should be demanding compensation from Kangsung Group for damages.
"But we're not at the point of shutting down, right?"
"No. Fortunately, we still hold stakes in the Belt and Road Silk Road port projects, and most importantly, we fortified our foundation during the last shipping crisis. The issue is, if this situation persists, no matter how strong our foundation is, there's a limit to how long we can hold out."
Hanjong Shipping collapsed the same way.
While Hanjong Group's use of it as a slush fund conduit was problematic, the shipping industry is particularly vulnerable—once the tide turns, the domino effect is devastating.
"Gwangun Shipping is currently making efforts to establish a new main hub. But given how Tianjin Port had such excellent infrastructure and an ideal location, it'll be difficult to find a place that can truly match it."
I had handed over Tianjin Port to the Yonghae Alliance based on my intuition.
But honestly, it was a waste. A terrible, terrible waste.
Since I'd effectively given up the region that was the core of Gwangun Shipping's operations, it was only natural to feel regret.
But my intuition had warned me of something.
Along with the deafening explosion that had rattled my eardrums.
Had it been warning me that if I stubbornly clung to it, the company itself might explode? Or was it truly foreshadowing some kind of disaster?
Even if an accident were to happen, fires or explosions occurred occasionally.
They weren't usually significant enough to severely impact business.
"...But this is a bit too big, isn't it?"
After returning home to rest, I stared blankly at the breaking news on the TV screen.
[At approximately 10 p.m. tonight, a chemical explosion occurred in the containers stored at Tianjin Port. Following the initial explosion, a second, even larger detonation triggered a chain reaction, with an estimated force equivalent to 35 tons of TNT...]
Footage of the explosion, sourced from online videos and CCTV recordings, played on screen.
The deafening blast tore through the audio, and the sheer force of it sent even the people filming flying backward.
Given the unprecedented scale of the explosion, the media was now entirely focused on Tianjin Port.
[President Jeong. A-Are you watching the news right now?]
As expected.
Director Kim Du-yeong called me in a frantic voice.
"Yes. I'm watching it too."
[No, I mean—what the hell even happened? First, second, third—explosions kept going off one after another, and it looks like nearby factories got caught in the blast too. All the facilities we had set up at Tianjin Port have been completely reduced to ashes.]
Countless containers, logistics infrastructure, and even factories at Tianjin Port—
All of it had been swept up in this massive explosion.
"Director, this won't cause any problems for our Gwangun Shipping, will it?"
[I already checked that first thing. But no, we're clear. In fact, it seems the chemicals belonged to one of the Chinese international logistics companies under the Yonghae Alliance. The one silver lining is that if the Yonghae Alliance hadn't been formed and they'd still entrusted logistics to us, we might've been the ones in that mess.]
According to the news, there had been initial issues with storage methods.
But that alone wouldn't have been a problem.
The real disaster happened when they poured water to extinguish the fire, triggering an even greater chemical reaction.
The result was Tianjin Port looking like it had been carpet-bombed.
There was no way the Chinese government would let this slide.
[But... President Jeong. I'm really curious, so I have to ask...]
I already knew what he was going to ask before he even said it.
"It has absolutely nothing to do with me."
[Haha. R-Right? Of course, I figured as much. Ah! And now that Tianjin Port's gone, there's bound to be a logistics crisis. That means the ones who cut ties with us will have no choice but to come crawling back. What should we do about them?]
A mental list of companies that had unilaterally terminated contracts with us flashed through my mind.
"What do you think we should do?"
[The logistics demand is going to skyrocket. We might not even have enough manpower to handle it. Naturally, prices will rise too. But let's not raise them immediately. Existing customers get a price freeze.]
"But for the companies that broke contracts with us and now want to come back—we charge them more?"
[Exactly. We can't just let the Crime of Being Displeasing slide. I'm not as magnanimous as you, President Jeong. Hehe. What do you say?]
I waited for a moment.
"...!"
My hand holding the phone trembled faintly.
"Let's proceed with that."
＊＊＊
The Tianjin Port Explosion.
This wasn't just any accident.
Given that it was both a strategic stronghold for China and a critical logistics hub for Asia and the rest of the world, the explosion had now triggered a full-blown logistics crisis.
"Will this situation cause any damage to us?"
"No. By an almost miraculous coincidence, Gwangun Shipping had already moved their logistics operations away from Tianjin Port before the incident, so fortunately we've avoided any damage."
Most domestic companies use Gwangun Shipping's services.
Hadn't Jeong Jin-ho mentioned something about this before?
That he hoped Korean companies would thrive.
As proof of that sentiment, he'd been providing shipping services to Korean businesses at significantly lower rates.
"Right now, China, America, Japan, Taiwan, Europe—everywhere is experiencing logistics chaos. Tianjin Port served as such a massive hub center that the scale of damages still can't be properly assessed."
Just the port damage alone amounts to trillions of won at minimum.
When you factor in the lost cargo of other companies, the scale becomes unimaginably larger.
"If our logistics had still been tied up there, it would've been catastrophic. All the memory semiconductors destined for various countries would've been wiped out in one go."
If Jeong Jin-ho hadn't relinquished Tianjin Port, not only Kangsung Group but all other Korean companies would have suffered devastating losses as their entire logistics networks went up in smoke.
"But we emerged unscathed, while Gwangun Shipping essentially won the lottery without lifting a finger. With this logistics crisis unfolding, all the business that was drifting toward the Yonghae Alliance is now flooding to them instead."
"Well I'll be damned. They say the lucky ones find gold even when they fall backward. Turns out it's true."
Tianjin Port being blown to smithereens means it can't function as a hub for the foreseeable future, which in turn means a global logistics crisis is now underway.
Even the Yonghae Alliance, which had forcibly taken control of Tianjin Port, lacked the capacity to handle this logistics nightmare.
Rumors say the Chinese government has already arrested all responsible parties, so they probably don't even have the mental bandwidth to deal with this.
"I've heard Gwangun has increased shipping rates two-fold, even three-fold for companies that were collaborating with the Yonghae Alliance."
"That much? And they're still using them?"
"They have no choice. With the Yonghae Alliance in this state, Gwangun is literally the only player that can mitigate this crisis. The Chinese government even sent an SOS to Gwangun—that's how desperate things are."
90% of global trade relies on maritime shipping.
While some use air transport, it's far less efficient.
Even with tripled prices, companies have no choice but to pay up.
Otherwise, they can't get their products to other markets!
Wasn't there an old British saying about this?
That whoever controls the seas will rule the world.
Gwangun is precisely that force right now.
"The timing is almost too perfect. The moment Gwangun cut ties with Tianjin Port, this happens."
"Yes. That's why there are already whispers in China about this possibly being an intentional act."
"What? Are you suggesting Chairman Jeong Jin-ho orchestrated this? No matter how you look at it, he's absolutely not the type to plan terrorist attacks."
Kangsung Chairman instinctively knew Jeong Jin-ho was a man of good character.
He knew with certainty that Jeong wasn't capable of such inhumane scheming.
"True. But doesn't it strike you as odd? Tianjin Port held tremendous influence, yet he surrendered it without putting up any fight."
"That was strange, I'll admit. He clearly had connections on the Chinese side."
Yet the way he cleanly severed ties without hesitation had struck even Kangsung Chairman as unusual.
"As you said, Chairman Jeong may have no involvement. But couldn't it be the work of those mysterious bureaucrats backing him? Eliminating the Yonghae Alliance for daring to challenge their power?"
"...!"
The puzzle pieces suddenly clicked into place.
Though still under investigation, this was a port-wide explosion with no witnesses or evidence—everything vanished in the blast.
But if someone weaponized this for a power struggle...
In any other country, this would sound absurd, but isn't this precisely the kind of place where people would do anything for power?
"Just what connections does Chairman Jeong have...?"
While the exact nature of those connections remained unclear, the likely winner of this power struggle seemed obvious.