The Chaebols Are Back

January 27, 1972, at the Nauru Republic Airfield.

"Did you think you were going to die when you came here?"

Within a matter of days, Kim Gwang-pil's face got fully tanned.

"I feel sorry for sending my senior here."

There were many transit points to arrive at the Republic of Nauru.

Particularly, the rough shaking of the light aircraft I flew when I last stopped over in New Zealand led me to believe that I would never wish to return to Nauru.

I painfully experienced why light aircraft are not safe.

"Okay, you know, anyway, Seongsu, you're really amazing."

"Me?"

"It looks like this place will soon be full of pigs."

The Republic of Nauru is a newly independent country that became independent in 1968.

Unlike Korea, the Republic of Nauru was richly endowed with natural resources, so it was not a poor nation even though it was a newly independent country.

Of course, the grace of that resource is only 20 years ahead.

The Republic of Nauru is an island composed of guano.

And so, as guano from the island was being excavated and sent overseas, ocean levels would naturally decline, and even guano, the primary component of natural fertilizer, would eventually disappear.

Because there is no such thing as a limitless resource that never comes to an end.

"Isn't that what you think, senior?"

"Of course, it's Guano Island, hahaha!"

Guano is birdshit.

Literally, the jurisdiction of the Republic of Nauru is an island composed of birdshit.

If you open the earth, phosphate will gush out.

That's what my elder declared the Nauruan people would become soon -- full pigs.

I am not using these words derogatorily.

According to the future knowledge I have, over 80% of the population will be obese. Why?

Because of the guano, the dividend payments by the Nauruan government alone will enable the people to live well for some time without doing anything.

"I would say that we have literally been hit with the blessing of resources right now."

Of course, the Republic of Nauru has not yet nationalized its phosphate mines.

'How much government finances are there?'

Isn't it too late?

As far as I know, the Nauruan government is nationalizing the phosphate mine by dividing it between an Australian and a British company, paying $20 million.

That's why I came here.

Instead of nationalizing it on your own account."

If I can nationalize it on other people's account, the Nauruan government that is so corrupt will receive me with open arms.

[I wired $100 million to the secret Swiss account that you informed me about.] [Then I will now go back to Korea and proceed with all sorts of projects.] [I would like to proceed with having diplomatic relations immediately.] [I will also inform that to His Excellency the President.] [I wish your father-in-law tread the path of blessings together with me according to Allah's will.]

I recalled what the Iranian Prime Minister said when I phoned him while in New Zealand.

With this, I became South Korea's wealthiest dollar individual.

'What if I just eat and run?'

Maybe the Iranian Prime Minister will send all of the Iranian secret police he has to kill me.

"Yes, the blessing of resources, that's a perfect expression."

"But from now on, the resource curse begins."

"What is this?"

"As my senior said, a full pig will end up in trouble."

right.

That is the history of the Republic of Nauru.

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The Republic of Nauru is a vivid example of how the blessing of resources can one day become a curse of resources.

In 20 years, Nauru's phosphate resources will be depleted.

The citizens of the Republic of Nauru, who lived in prosperity, soon became poor after the state stopped paying their dividend and even forgot how to fish.

'The people of the Republic of Nauru.'

You shall have such damned prosperity that you will forget how to work.

Starting with miners, all the workers will be replaced by overseas workers.

Even the Republic of Nauru's civil servants hire foreigners instead of their own citizens.

"so?"

"We are going to need people to clean up after the pigs who are full."

There are two reasons why I visited the Republic of Nauru.

'Exporting human resources and.'

Assisting the Republic of Nauru in nationalizing its phosphate mines.

If that is the case, we will be able to replace over 90% of the miners in the phosphate mines with Koreans, and even replace foreign civil servant posts in the Republic of Nauru with Koreans.

"You're going to relocate Korean workers to this island?"

"We intend to fill all the jobs, beginning with phosphate mine laborers and eventually to foreign civil servants in the Republic of Nauru, with Koreans."

Kim Gwang-pil stared at me like I was talking nonsense.

"Why do you have that expression on your face?"

"According to what I've discovered, all the mines where phosphate, which is the main material in natural fertilizer, is extracted are divided between Australian and British firms. So how can they employ Koreans as workers at the mines in such a scenario?"

Kim Gwang-pil, who dutifully fulfilled his first assignment.

"Yes, I do know that.

"But Seongsu, can you find space to come in?"

Kim Gwang-pil appears to believe that I had visited the Republic of Nauru to cultivate a phosphate mine.

"It is hard to engage in the phosphate mining business, which is subdivided into mining development companies."

"Then why was I brought here?"

"I came to return the phosphate mines that the British and Australians occupied to the Republic of Nauru."

"What does that mean?" 

This is Kim Gwang-pil, with a look that indicates he doesn't get it.

"For approximately $20 million, we can nationalize the phosphate mines in Nauru."

"Seongsu, do you say this when you have 20 million dollars?"

You just have to laugh during times like these.

"Wow, is that really true?"

"senior."

"Why are you dodging the answer?"

"I laughed, hahaha!"

"It's true."

This is Kim Gwang-pil who is shocked.

"Okay, how high up the ladder did you climb?"

When I sent Kim Gwang-pil to the Republic of Nauru, I provided him with $300,000 in cash. And I provided him with three security guards of the Security Command.

why?

Because there is a possibility that you may elope with dollars alone.

"I spent all the dollars you gave me."

I'm a bit concerned that they shouldn't be tossing dollars around without any actual outcome.

"I hope it went well?"

"I even met with the Minister of Economy of the Republic of Nauru."

"Can I meet you?"

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"I think $100,000 would be enough."

The highest authorities of the Republic of Nauru are already intoxicated with bribes.

"I brought more than that."

The President has five bodyguards from the Security Command, each with a bag, just in case.

And the bag is full of dollars.

"When do you want to meet?"

"Would you like it to be today?"

Kim Gwang-pil made a bewildered face at my words.

"Do you only think about work when you see that emerald sea?"

Kim Gwang-pil gazed at the Republic of Nauru.

I saw it too.

"There must be a lot of tuna in the coastal waters."

"tuna?"

This is Kim Gwang-pil asking why he suddenly mentioned the subject of tuna.

"I thought there would be a lot, hahaha!"

tuna?

I guess so.

If you do it correctly, you can even obtain some additional advantages.

'Tuna is Dongwon tuna.'

Dongwon Tuna pioneered domestic production of canned tuna products in the early 1980s.

So, it is a case of my taking charge if I set my mind to it.

'Korean Tuna!'

good.

Let's broaden the coverage up to that extent.

Of course, I have to meet the President of Nauru to succeed in all that I have designed.

* * *

French Khomeini's safe house road.

Khomeini was going to a mosque that had Algerian Muslims visiting it for the first time in a while with his bodyguards.

"It's a nice day."

Because Khomeini was always at home, today it was unavoidable that he would go out.

Clang.

At that time, a flower pot dropped in front of Khomeini.

The shocked Khomeini and his guards had glanced at the flower pot's falling spot, and saw a French woman who was surprised that a flower pot would fall off of around the 5th floor.

"I'm sorry, it was a mistake."

The French woman screamed.

The frown of Khomeini disappeared.

But is this actually a coincidence?

Lee Seong-su's job has started.

"I have to go back." Lee Seong-su's job has started.

Even though the scowling look softened, Khomeini could not help but feel uneasy.

"yes?"

"Inshallah."

Whenever Khomeini uttered Inshallah, no one inquired as to why.

* * *

Office of the President of the Republic of Nauru.

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"Should phosphate mines be nationalized?"

The President of the Republic of Nauru questioned his economic minister:

"Yes, we only receive 10% of the profit from phosphates. 90% of the profits go to international companies. So we surely have to nationalize it."

"With what money?"

Money, as expected, was the issue.

"Is there a way?"

"You can borrow foreign money from banks by mortgaging the phosphate mines. Mr. President, no, brother, if you nationalize the phosphate mines, the citizens of the Republic of Nauru will be richer than they are today."

The President of the Republic of Nauru and the Minister of Economy were half brothers.

"Get rich?"

"yes."

"Can't I get rich?"

"yes?"

It was the Republic of Nauru's Minister of Economy who was a bit surprised at the utterances of the President of Nauru.

"There's no guarantee that I'll be president until I die."

"That is true."

"Yes, we can nationalize it and then privatize it. Look, if we make an announcement of nationalization, the British and Australians will call for lots of compensation."

"Yes, I understand."

"By the way, I heard you're meeting a Korean diplomat these days?"

The Nauruan President's expression shifted slightly.

"Yes, he is the one my uncle introduced me to, and the $100,000 I gave you earlier was a political contribution from a Korean diplomat."

"okay?"

"yes."

"Why did you give it to me?"

"I'm a diplomat, so I want to meet you, sir. No, His Excellency the President."

The Nauruan President nods to the Minister of Economy's words.

"Right, but what country is Korea attached to? This is the first time I've heard of it."

"They say it's located at the end of Asia."

"I get it."

* * *

Living room of the home of the Minister for Economic Affairs of the Republic of Nauru.

Senior Kim Gwang-pil spent 300,000 dollars for me to come here.

There is $100,000 in the bag held by Major Park of the Security Service, who is acting as my bodyguard.

"Hello, Minister. My name is Lee Seong-su. I found this bag on my way here, so I would appreciate it if you could help me find the owner."

At my utterance, Major Park set his bag on the table in front of the Republic of Nauru's Minister of Economy, who was staring at me, and took a step backward.

"is it so?"

Display a smile.

You understand it's a bribe.

Then the Minister of Economy opened the zipper of the bag, looked inside at the dollars, closed the zipper and placed the bag under the table.

"I will return it to its owner."

We speak English now.

[Nauru's Minister of Economy studied in the United States as an international student.]

Since Kim Gwang-pil arrived, I recalled what he had told me about the Minister of Economy.

[They were wealthy, it appears.] [They claim that their family has served the British Empire for generations. Naturally, because they lived as pro-Japanese collaborators, they have money, and they spend that money on their children's education, and even after independence, those children each have a position in the world.] [It's a vicious circle. Just like Korea.] [It's because of Syngman Rhee and the president.]

It is the same with pro-Japanese collaborators.

'This is the same as Korea.'

Pro-Japanese collaborator descendants still eat and live well.

No, pro-Japanese individuals still have vested rights.

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Is this only applicable in Korea?

The same is true with North Korea.

Of course, I did cut it up quite a bit.

[Senior, I will not speak about politics. What is the personality of the Minister of Economy like?] [Should I describe him as choleric? Or should I describe him as being cool-headed? He is impatient.] [How is his relationship with the President?] [He is an inferior brother.] [But how did he become the Minister of Economy?] [They are half-brothers, but there are two clever kids in that family, one is the President and one is the Minister of Economy. Do you see the gap?] [Then his ambition must be stronger than his brotherly love.] [It may appear so, but the age difference between the two is large. The Minister of Economy may be waiting for the President to die.] [You said he is impatient?] [I told you he was a clever international student.] [Inelligence is usually clouded by greed.]

"thank you."

"I heard that Korea is a poor nation, so why are they wasting money in Nauru?"

This is the time when your short-tempered nature surfaces.

"I am a businessman first and foremost before I am a Korean diplomat."

"business?"