Chapter 362: Time Is Money

President Jan Koller rested his chin on his fist, leaned against the armrest of the sofa, and sank into deep thought.

Tomas Holes, his Chief of Staff, quietly raised his coffee cup to his lips so as not to disturb him.

After some time, the President finally emerged from his thoughts, straightened up, and spoke.

"Chief Holes, what do you think the South Korean government's reaction will be?"

"I was curious about that myself, so I called one of the senior executives of the Team Korea consortium and asked him."

"Is that so? And what did he say?"

"He reported your proposal to Minister of Trade, Industry and Energy Hong Seonggeun, but the Minister reacted very negatively."

President Jan Koller had asked the South Korean government to provide a loan of $15 billion to finance the construction of two additional nuclear power plant units. The proposed terms called for annual interest payments of just 3% during the first five years, after which the principal and interest would be repaid in equal installments over thirty years.

Evidently, Minister Hong Seonggeun had decided that there was nothing to gain from the proposal.

"Hmm, I see. Then what terms should we offer the South Korean government to pique their interest?"

"Wouldn't it be better to consider that question after we receive an official response from the South Korean side?"

"Well... Now that I think about it, you're right. By the way, what about that matter I asked you to investigate?"

Chief of Staff Holes recalled the events of several days earlier. President Jan Koller had instructed him to gather information about KBH Investment, the company that had acquired Westinghouse. That was what he was asking about now.

"KBH Investment is an entirely new company, established only at the beginning of last month."

"Could it simply be an existing company that changed its name?"

"That was my initial thought as well, but our investigation showed that wasn't the case."

"Then how did KBH Investment, being such a newcomer, manage to acquire Westinghouse?"

"KBH Investment was jointly established by Bongard Investment Group, Hangang Group, and Korea Investment."

"Are you saying the American Bongard Group used its influence to acquire Westinghouse?"

"I'm inclined to agree with your assessment, Mr. President."

"Is there any way to verify whether our suspicions are correct?"

"I know Mr. Lipman, the CEO of Westinghouse. Would you like me to call him right now?"

"Why waste time talking about it? Of course, call him."

"Hahaha. Understood."

With a light chuckle, Chief of Staff Holes dialed CEO Lipman's number. After speaking with him for a while, he ended the call.

The moment he lowered the phone from his ear, President Jan Koller immediately asked,

"Well, what did you discuss with CEO Lipman?"

"It turns out he never intended to sell Westinghouse in the first place. Because of that, he presented KBH Investment with utterly absurd conditions. But right in the middle of those difficult and drawn-out negotiations, Chairman Bongard personally appeared at the meeting."

"And what happened next?"

"Chairman Bongard assumed the role of head of KBH Investment's delegation and personally led the acquisition negotiations."

President Jan Koller found this strange. Chairman Bongard, who headed the world's largest investment company, was renowned for being extraordinarily busy. Why would a man like that personally conduct negotiations over the purchase of Westinghouse? He asked Holes what he thought about it.

"Perhaps it's because Chairman Bongard is KBH Investment's largest shareholder?"

"Well... Now that I think about it, that does make sense."

"But there's another shocking piece of news. Right in the middle of the negotiations, President Douglas personally called CEO Lipman and ordered him to stop wasting time and immediately sell Westinghouse to KBH Investment."

"It seems Chairman Bongard put pressure on President Douglas."

"That's very likely."

Bzzzz—

Just as Chief of Staff Holes nodded, the phone in his hand vibrated. Glancing at the screen, he informed President Jan Koller that Presidential Chief of Staff Lee Jihun was calling, then answered.

"Mr. Lee, it's been a while."

[Hello. Is this a good time to talk?]

"Of course. I'm entirely at your disposal."

[Excellent. Would you be able to make a secret visit to our country?]

"May I ask why?"

[We need to discuss President Jan Koller's request confidentially.]

"Don't tell me..."

As though he had read Holes's mind, Chief of Staff Lee Jihun continued before he could finish.

[Our country has decided not to finance the construction of the two nuclear power plant units.]

"In that case, why are you inviting me?"

[I discussed the matter with Department Head Cha Jiham, the CEO of KBH Investment. He expressed his willingness to provide financial assistance to the Czech government for the construction of the two nuclear power plant units.]

"Is that true?!"

[Why would I lie to you, Chief Holes?]

There was a sharp edge to Lee Jihun's reply. Chief of Staff Holes felt a momentary flash of irritation, but he had to restrain himself. Upsetting the man on the other end of the line would accomplish nothing right now.

"Oh, I was simply so surprised that I had to ask again. Please don't misunderstand."

[I understand your position perfectly.]

"Well, all right, then. But just how much working capital does KBH Investment have if they're prepared to extend us such a loan?"

[I never said that KBH Investment would be lending money to the Czech government.]

"Don't tell me..."

Chief of Staff Holes trailed off as a realization dawned on him.

[Exactly. Department Head Cha will lend the money from his personal funds.]

"He must be unbelievably wealthy."

[No comment. The reason I asked you to visit our country under the strictest secrecy is that we don't want the press finding out about this prematurely.]

"I'm not quite sure I understand what you mean, Mr. Lee."

[Our country intends to officially announce to the media that we will not finance the construction of the two nuclear power plant units for the Czech government. If you come on an official visit, won't the press become suspicious?]

"Ah, now I understand what you're getting at."

[One more thing. We'd like Minister of Defense Ales Maceu to accompany you.]

Chief of Staff Holes frowned in confusion. Minister of Defense Ales Maceu had absolutely nothing to do with the nuclear power plant construction project. Yet, for some reason, Lee Jihun was asking him to bring the Minister along. Holes cautiously inquired about the reason for this request.

[Department Head Cha has an important confidential matter to discuss with Minister of Defense Maceu.]

"Very well. I understand."

[Chief Holes, you're familiar with the expression 'Time is Money,' aren't you?]

"Of course I am. I'll fly to Korea at the earliest opportunity."

[Let me know as soon as you've settled on your schedule. I'll say goodbye for now.]

"Mr. Lee, wait a moment!"

Chief of Staff Holes called out to Lee Jihun, who was already about to hang up.

[Chief Holes, do you have another question for me?]

"I'm very curious about what kind of person Cha Jiham, the CEO of KBH Investment, is."

[I won't go into details. Let's just say that even President Douglas feels uneasy and intimidated in his presence.]

"What did you say?!"

Chief of Staff Holes was genuinely dumbfounded. His reaction bordered on outright shock.

[If you don't believe me, you can verify it through the American government. Goodbye.]

Click.

Holes stared blankly at the disconnected phone. President Jan Koller, as though he had been waiting for this very moment, immediately leaned forward and asked,

"Well? What happened? What's the situation?"

"Haha, good heavens!"

Chief of Staff Holes let out an astonished exclamation before continuing.

"Department Head Cha Jiham of KBH Investment is going to cover the nuclear power plant construction costs himself..."

***

"Department Head Cha, are you sure we haven't overlooked anything?"

Last Friday, I had lunch with Presidential Chief of Staff Lee Jihun, NIS Director Om Giyeon, and Minister of Trade, Industry and Energy Hong Seonggeun.

At the time, I had asked Lee Jihun to invite a high-ranking representative of the Czech government to our country. He immediately called Chief of Staff Holes and conveyed my proposal. Holes replied that he would try to fly to Korea as soon as possible.

However, four days had already passed, and it was now Tuesday, yet there had still been no word from Holes. That was precisely why Vice President Jeong Sunho had brought up the subject.

"To build four nuclear power plant units, the Czech government will need financial assistance one way or another," I replied.

"But couldn't they take out a loan from another country instead of borrowing from you, Department Head Cha?"

"If that were the case, they would already have contacted Mr. Lee Jihun and informed him that they wouldn't be coming."

"Well... Now that I think about it, you're right."

Vice President Jeong Sunho nodded in understanding.

"Now, on another matter. If our company absorbs Team Korea, what problems might we encounter?"

"I secretly contacted the companies belonging to Team Korea."

"And what was the result?"

"The companies supplying essential components for nuclear power plant construction were in favor of the idea, seeing it as an opportunity to expand their market presence. However, D&H Group wasn't particularly enthusiastic."

The D&H Group conglomerate included D&H Construction and D&H Engineering. Both companies had experience building nuclear power plants and were key members of Team Korea.

KBH Investment had brought other companies into its consortium, including Hangang Engineering. If Team Korea were absorbed by KBH Investment, these two companies would find themselves on equal footing with all the others. D&H Group was hardly going to be pleased about having such a lucrative opportunity snatched away from right under its nose.

"The government will deal with D&H Group's dissatisfaction itself."

Ring—

At that moment, the phone lying on the table vibrated. Glancing at the screen, I saw Lee Jihun's name. The reason for his call was obvious, so I immediately answered.

"Mr. Lee, I'm listening."

[Department Head Cha, Holes from the Czech Republic just contacted me. He's flying out tomorrow.]

"That's excellent news. By the way, did you find out why they took so long to get in touch?"

[The delay was because Minister of Defense Maceu was attending a meeting of NATO defense ministers.]

"Ah, so that's what happened."

[Chief Holes plans to depart tomorrow afternoon, so they'll arrive in Korea the day after tomorrow.]

At that moment, an idea occurred to me.

"Mr. Lee, is Holes planning to travel aboard the Czech government's official aircraft?"

[If they do that, the press might spot them, so he decided to take an ordinary commercial flight.]

"Isn't there a risk that South Korean passengers on board might recognize him and post photographs on social media?"

[Hmm... I hadn't thought of that.]

"In that case, I have a suggestion. Why don't we arrange a comfortable flight for them ourselves?"

[Are you suggesting we send President Cho Seokchin's private aircraft to the Czech Republic?]

There was confusion and a hint of strain in Lee Jihun's voice.

"That would attract the attention of journalists as well."

[Then what do you suggest?]

"How about sending Hangang Group's private jet to the Czech Republic?"

[That's it! Excellent idea!]

"I'll speak with Hangang Group's representatives myself, and I'll leave the rest to you, Mr. Lee."

[Haha. Agreed.]

After ending my conversation with Lee Jihun, I immediately dialed Hangang Group's Chief Secretary, Song Dosok. After several rings, his surprised voice came through the receiver.

[Department Head Cha, what brings you to call me?]

"A high-ranking official from the Czech government is planning to make a secret visit to our country. I thought it would be a good idea to send Hangang Group's private jet to pick him up."

[I assume there's a good reason for that?]

"The Czech government has officially approved the construction of four nuclear power plant units. This official is coming here on a secret visit specifically to discuss the matter."

[I understand what you're saying, but is there really a need for our company to send its own aircraft?]

"Hangang Group is supposed to participate in the nuclear power plant construction project too, isn't it?"

[Ah, that's right! It completely slipped my mind. I'm very busy right now, so let's talk again later.]

"Wait a moment."

I stopped Song Dosok just as he was about to hang up.

[Department Head Cha, is there something else you need from me?]

"Presidential Chief of Staff Lee Jihun is personally overseeing the Czech official's visit."

[I'll call Mr. Lee, so don't worry. All right, I'm hanging up.]

Click.

The moment the call ended, Vice President Jeong Sunho cautiously asked,

"Department Head Cha, how are things progressing?"

"Chief of Staff Holes will lead the delegation, and..."