Chapter 72: I Can't Stand Freeloaders
Chapter 72: I Can't Stand Freeloaders
< I Despise Freeloaders >
“Minister. Have you heard the news?”
“Which one? The COVID vaccine?”
“That’s the one.”
30 minutes before he contacted Kim Shin.
Shin Won-tae, the Minister of Health and Welfare, received a call from a domestic pharmaceutical company.
“Minister, Biolife... who would have thought a company no one in the industry had even heard of would pull off something this big?”
“I know, right? I thought commercialization would be impossible, and that they'd barely pass the first or second clinical trial at best.”
“The chance of failure is high, but from our company's perspective, we have to consider the 'what ifs'.”
“'What if?'”
“What happens if they pass the third trial and actually start producing the vaccine?”
In Korea, the bio-industry was being hailed as the next big growth engine.
It was a time when major corporations were entering the generic drug sector, investing trillions of won in factory construction.
For existing pharmaceutical companies already engaged in fierce competition for survival, Biolife had suddenly appeared.
“Biolife will emerge as a new powerhouse in the industry.”
“It'll be more than that. It could save hundreds of thousands of lives, and every country will want the vaccine. The COVID death toll in the U.S. has surpassed 50,000. The price? No matter what they charge, countries will be lining up with cash to buy it.”
“Are you saying a small, research-focused company could become bigger than DK Bioscience?”
“That's the nature of biotech. Besides, with Kim Shin as the owner, it's not like they'll be short on investment funds, right?”
Minister Shin Won-tae wondered how much longer he had to listen to the pharmaceutical company's whining complaints, but that wasn't the main point of the call.
“The government needs to step in.”
“And do what?”
“Biolife has no production facilities. The government should actively support them starting from the second clinical trial and pursue joint development. If you can secure even a small stake in the vaccine, it will create a great opportunity for us.”
“So you're saying the government should participate in the vaccine development, and if it succeeds, you want me to entrust the production to Hersen.”
“If domestic companies cooperate to shorten the vaccine production schedule as much as possible, wouldn't that be good for everyone?”
The government would release massive subsidies to help Biolife and the domestic pharmaceutical companies.
As long as there was a justification, a huge budget could be used.
“If it passes all three clinical trials, it will be a happy outcome for everyone.”
“That's right.”
“And if it doesn't pass?”
“You did your best, Minister. Could the members of the National Assembly really criticize you for misusing the budget?”
For Minister Shin Won-tae, it was an opportunity to expect a hefty rebate from the pharmaceutical company.
As for Biolife, facing the uncertainty of passing future clinical trials, they wouldn't be able to refuse the government's massive support.
At the same time, it was a chance to advance his personal ambitions.
If he could make a name for himself by actively supporting the COVID vaccine development...
He could aim for a position even higher than Prime Minister.
* * *
“Mr. Kim Shin, when are you coming to Korea?”
“Excuse me?”
“I was hoping the government could hold an official support ceremony, perhaps as early as tomorrow.”
For some reason, the minister seemed more rushed than he was.
“I'm just the investor; the people who researched the vaccine are separate. The head of Biolife is Dr. Lee Ho-yeon.”
“Of course, I know that. But it would look much better for the well-known Mr. Kim Shin to participate as the representative, rather than Dr. Lee Ho-yeon, whom the public doesn't even know.”
“Hmm.”
“As the wealthiest man in South Korea, it will be an honorable act of contribution to the nation and society. You will earn the people's respect. Our government will create that opportunity for you.”
The thought of having to go to Korea was a hassle.
Respect? What a joke.
Would public perception really improve that much just because I receive congratulations and support from the government?
The story of Biolife's investment and development process would be uploaded to YouTube soon anyway.
He wanted Dr. Lee Ho-yeon and the researchers to receive full credit for their efforts.
‘Looks like the political world wants to stick their spoon in the COVID vaccine.’
He could guess their intentions, but isn't that how the government always operates?
They stick their spoon in when things go well and offer a hand when things look like they'll fail.
Just as he was thinking he should accept it for Biolife's benefit, since they would be receiving national support.
“I will take responsibility and ensure that Hersen handles Biolife's production.”
“Hersen?”
“Since you've worked at a pharmaceutical company, you must know what kind of company Hersen is.”
“I do.”
A major domestic pharmaceutical company with over 60 years of history.
It didn't have much influence in the ophthalmology sector, but it was a company with formidable capabilities in the broader pharmaceutical field.
Their product line ranged from various prescription drugs to hangover cures and tonic drinks.
As a bonus, they were famous for giving doctors large rebates.
“The government will actively connect you. So that if the vaccine passes the clinical trials, Hersen can begin production immediately.”
“Hmm.”
The calculation wasn't adding up in his head.
Without production facilities, they would have to entrust it to some company even if the trials were successful.
Frankly, he preferred the subsidiaries of large corporations that had recently completed their factories over Hersen.
“The costs for the second and third clinical trials, tax deductions for development expenses, all the way to final production. The government will provide unprecedented levels of support, and in return, researchers from government institutions will be dispatched to Biolife for joint development.”
“Joint development?”
“The COVID vaccine is a matter of national importance. Shouldn't the government actively participate in joint development to enhance the vaccine's production and stability?”
“If it's joint development, we'd have to give the government a stake in the company, wouldn't we?”
“Giving about 10% would be mutually beneficial. The government will pay you back more than that.”
Selecting the production company, joint development.
It felt like the pieces were falling into place, one by one.
He remembered Dr. Lee Ho-yeon's efforts in such a harsh environment.
Before I invested, he was conducting research in a small studio apartment, building a tower of cup noodle containers.
After COVID spread, tens of thousands of people were dying, and the number of infected was soaring.
There were people who skipped meals and worked day and night on the research.
It wasn't right to let them get entangled in the logic of money or politics.
“I don't like your proposal.”
“What?”
“Government support, collaboration with Hersen. I refuse it all. If we need something, we'll figure it out ourselves.”
“You haven't even passed the second clinical trial, and you're planning to refuse the government's goodwill and take the hard road?”
“I may not have much experience in the real world, but I've found that people who talk about 'goodwill' rarely offer it genuinely.”
“Why, you...!”
“We intend to see the vaccine development through to the end. If we fail? Yes. If it doesn't work out despite our best efforts, then so be it. I believe that's a result we must accept, having embarked on this path.”
Refusing the Minister of Health and Welfare's proposal would undoubtedly create various inconveniences.
That's why he said it in advance.
“I have quite a bit of money, and my business activities aren't tied down to Korea. If push comes to shove, I can acquire U.S. citizenship and move Biolife entirely to the United States.”
“...”
“And don't contact me again. I might just upload this conversation to YouTube.”
He thoroughly screwed over the Minister of Health and Welfare and immediately hung up.
And three seconds later.
‘Ah... did I just cause trouble?’
Having worked in the pharmaceutical industry, he knew very well what an absolute powerhouse the Ministry of Health and Welfare was.
Filled with deep regret, he glanced to his side and saw Lee Jong-yeop.
How shocked must Lee Jong-yeop, his junior from their Arcor days, be after hearing that phone call?
“Was that the South Korean Minister of Health and Welfare?”
“Yeah. I kind of lost my temper, which is unlike me, right?”
“You are usually the quiet and patient type.”
That was true.
He was used to enduring most things. But...
“But when you do get pissed off, you hold it in until you explode, and then no one can stop you. You turned that eye clinic in Nonhyeon-dong upside down, remember?”
The incident at the Nonhyeon-dong eye clinic, which had caused such a stir at Arcor, came to mind for the first time in a while.
Cataract surgery.
Because of the risks involved, surgeries related to the eyes were often not performed on both eyes simultaneously.
This was due to the fear of surgical failure or a critical infection.
The top eye clinic in Nonhyeon-dong.
It was a clinic run by a female doctor who advertised heavily on social media and even paid referral fees for bringing in patients.
To perform surgeries quickly, like on an assembly line, she operated on both eyes at once.
During one surgery, she failed to properly control the pressure of a basic machine.
The brutal moment when the elderly patient's eyeball was literally pulled out.
“Aaaahhh!”
In the emergency situation, the doctor was unable to react, her hands frozen as she trembled.
She left the operating room and locked herself in her office.
“Doctor! Doctor! Please come out!”
Even when the nurse knocked, the door remained locked from the inside.
Watching this, he was utterly dumbfounded.
The patient's blindness was almost certain, but post-operative care was still necessary, wasn't it?
I frantically made calls and asked for help from Dr. Park, who ran an eye clinic near Gangnam Station.
“Doctor! It's an emergency!”
Dr. Park, who was renowned in the ophthalmology society for his exceptional surgical skills, came and handled the follow-up treatment.
Until then, he had just thought that a terrible thing had happened.
Honestly, while medical accidents in ophthalmology were rare, they could happen at any time.
He thought the best course of action was to compensate the patient well and resolve the situation.
“What? 20 million won in compensation?”
“That's right. Our director is one tough cookie. Even for an elderly patient, she lost both her eyes, and they're settling for 20 million won.”
“Did the patient accept it?”
“What choice does she have? Is a medical lawsuit easy for an old woman from the countryside? It's obvious her son made her go all the way to Gangnam for the surgery. She has to take whatever money they offer.”
Hearing the nurse's story, he got seriously pissed off.
When his patience snapped, he didn't even realize how angry he truly was.
He went straight to the director's office, gave her a piece of his mind, and then threatened to report it to the media, forcing a settlement of 50 million won.
It wasn't nearly enough for the grandmother who had lost her sight.
But if she were to sue over the medical malpractice, the court wouldn't award a large sum, considering her age.
The doctor could submit all sorts of favorable evidence, and the case could drag on in court for years, possibly resulting in a judgment of less than 50 million won, so realistically, there was no other choice.
Arcor, which received a belated report of the incident, was also thrown into an uproar.
“Assistant Manager Kim.”
“Yes, Team Leader.”
“Sigh... You really screwed up this time.”
Team Leader Ahn chain-smoked three cigarettes and then spoke.
“When you work for a pharmaceutical company, you know... you have to learn to forget some of the things you see and hear.”
“...”
“If a pharma rep goes around exposing a doctor's mistakes, do you think the hospitals will be happy about that? It makes them uncomfortable.”
“I'm sorry.”
He could have been forced to quit the company.
He wanted to stay at that job for life, but he believed he had done something worth finding a new job over.
“On a human level, though, you did the right thing.”
“Huh?”
“If you turn a blind eye to a doctor doing something like that, you might survive as a pharma employee, but you'd fail as a human being. I'll make sure this incident gets smoothed over without any harm coming to you, so don't worry.”
It would have been troublesome for the eye clinic if rumors spread.
Team Leader Ahn was able to smooth things over by tracing the doctor's connections, buying drinks for her supervising professor at the university hospital, and using some nice words.