I Am the Third-Generation Heir of a Conglomerate - Chapter 504



Only Krnovel

504. Fierce Battle (4)

Golf was not the right sport for me.

But since my grandfather loved golf so much, I learned it little by little.

I was able to use the golf I learned that way to spend time with President Trump.

“It feels great to be out on the field like this with Chairman Kim.”

“I don’t have much experience, so I feel like I’m just causing trouble.”

“This is pretty good. The shot is really smooth.”

I enjoyed playing golf with President Trump in a friendly atmosphere.

It took a whole 5 hours to play all 18 holes, and only then could we enjoy a quick tee time and have a proper conversation.

“This time, the lawmakers came up with a really great policy. It was a bill to protect Korean companies’ technology from Chinese companies. Taewoo Group has also had quite a bit of technology stolen in the meantime.”

“You could say that this is the fate of companies advancing into China.”

“Isn’t this why I’m sanctioning China? How can I just sit back and watch a country that steals technology to improve its technological capabilities?”

It was a legitimate cause.

American companies have also had a lot of their technology stolen by Chinese companies.

But the problem was that the sanctions were too crude and the structure was such that Korean companies were bound to suffer great damage.

“You are right. It is not easy to sell products in the Chinese market while protecting technology.”

“Ultimately, you have to use extreme methods, but you can achieve what you want. If Korea continues to act passively like it is now, all of its technology will be taken over by China.”

I nodded without realizing it.

To that extent, China was rapidly building up its technological capabilities without regard to means and methods.

“So, we want to sign a technology protection agreement with the United States. If we do that, won’t China be able to stop stealing technology so openly?”

“Haha, why are people so weak? Is it really possible to properly pressure China with just that much? You have to rush in with the mindset of biting each other’s throats to feel the pressure.”

It was the hunting dog’s way of fighting.

But Taewoo Group had no intention of becoming a hunting dog.

Because the US and China alone are enough to fight like hunting dogs.

Taewoo Group and Korea only had to watch the fight and take care of their prey.

“Do you want Korean companies, including Taewoo Group, to withdraw from China?”

“That’s what will eventually happen in cutting-edge industries. Can’t products made with American technology be produced in China?”

“If that happens, the damage to Korean companies will be severe.”

“There is no way to win without shedding blood.”

He is a truly extreme person.

That is why we are waging a trade war with China.

“Ultimately, I think what the U.S. and Korea want is the same. Korea is more wary of China’s growth than the U.S.”

“So what do you want to do?”

“I hope Korea can continue to enter the Chinese market. I think we can effectively restrain China by making it dependent on Korean technology.”

It could have been a selfish thought.

In simple terms, this meant that South Korea would trade with China without being subject to US sanctions.

Joining hands with the United States and calling for technological protection while continuing to trade with China was a direction that only benefited Korea.

“That sounds like a dream. Do you think that would be a proper restraint?”

“We have already prepared various ways to check China.”

“It sounds like the White House is just asking for help since Taewoo Group and South Korea have prepared everything.”

President Trump’s face turned red.

It was understandable that he felt bad, as it was tantamount to asking the President of the United States, the most powerful country in the world, to be a bystander.

“That’s absolutely not what I meant.”

“So what is there in it for the US? If you can convince me, I will accept your offer.”

It was time to take out the card.

Isn’t the card that President Trump wants most ultimately his approval rating?

It would be the icing on the cake, especially if it was a card that could target the core support base.

“China has stopped importing agricultural products from the United States. As a result, we understand that prices for agricultural products such as corn and soybeans have fallen significantly.”

“Ahem, that’s all China can do. They threaten us with corn and soybeans.”

The foundation of America could also be seen as agriculture.

In particular, the huge corn farms called the Corn Belt were located in the heart of the United States, which made it the world’s largest corn exporter.

It wasn’t just corn.

Agricultural products such as soybeans and wheat were being produced in large quantities.

The reality is that China is importing a large amount of them.

In particular, in the case of soybeans, China was consuming up to 50% of the amount.

“How sad would it be for voters in the agricultural belt if China continued to stop buying American agricultural products?”

“Well, how long can China endure without importing American agricultural products? In the meantime, the government should take care of the farmers’ feelings.”

“I heard that China is currently negotiating with Brazil and African countries. Shouldn’t we assume that they are looking for a country to replace American agricultural products?”

It was the United States that produced a huge amount of agricultural products.

But who will eat all that agricultural produce?

There was a limit to the amount that people could eat, and eventually most of it ended up being used as animal feed.

The value of corn and soybeans could be maintained because of chickens, cows, and pigs.

And the world’s largest pig-raising country was China.

China also had to import feed to raise pigs, and it would have wanted to somehow escape its current situation of being dependent solely on the United States.

“If Brazil and Africa choose China over the United States, there is a lot the U.S. government can do.”

“Is there any reason to expand the front? If we focus only on China, our firepower will not be dispersed.”

“You’re saying the obvious. But I can’t just sit back and watch!”

“If there were a place that bought American agricultural products instead of China, wouldn’t there be no need to expand the front?”

“Who will digest all that agricultural produce? India may be able to do it in terms of population alone, but since they don’t eat pork for religious reasons, there is no reason to import feed.”

If it were not used as feed, it would not be possible to digest that much.

Therefore, countries that did not eat beef and pork for religious reasons did not need large amounts of corn and soybeans.

That is why, despite having a huge population of 1.3 billion, there was no suitable consumer market other than China, where there were no restrictions on food consumption.

“There is no law that says the country has to digest it. Taewoo Group will take the lead and digest all American agricultural products, especially corn and soybeans.”

“Huh, is that even possible? Last year alone, China imported over 22 billion dollars worth of agricultural products.”

Last year, U.S. agricultural exports amounted to $140 billion.

Of that, more than 15 percent, or $22 billion, was exported to China.

15% was by no means a low number. It would not be strange for any company to be hit hard if its annual sales fell by 15%.

Moreover, the impact on agricultural products was even greater.

It takes months or even a year of hard work to harvest crops.

Since it has an expiration date, it cannot be stored forever, and the storage cost is also significant, so the moment the export route is blocked, it will suffer an irreversible blow.

“Of course, Taewoo Group alone would never be able to handle it. But it is certainly possible if we make a few minor modifications to the renewable energy standards.”

“Are you talking about a bill to blend biofuel into gasoline?”

“If you increase the specific gravity to just 12%, you can digest most of it.”

E10 mandatory mixed system.

This was a system implemented in 2005 that required all gasoline vehicles to use ethanol as a mixed fuel.

And the raw material for making ethanol was crops such as corn.

If it can’t be used as feed, it can be consumed as energy.

“If it were last year, it would have been quite feasible. But isn’t China banning imports of American oil and causing oil prices to fall? If biofuels are also increased at this point, what will happen to the oil companies?”

“If Taewoo Group cushions some of the damage, the impact can be minimized. And the president will receive all the praise.”

President Trump turned his head away for a moment.

Then, he looked back at the scenario by himself and smiled happily.

“Not a bad strategy.”

“If they just announced a policy to raise the ethanol ratio to 12%, wouldn’t China be under considerable pressure?”

“But if we continue to maintain the export ban, then you are saying that you will take care of it.”

“Until the war with China ends, we will release more than $22 billion annually into the agricultural belt.”

$22 billion is by no means a small sum.

Even if Taewoo Group and Financial Tower made huge profits from this incident, $22 billion was a burdensome amount.

Still, there was a reason for making this suggestion.

Right now, we’re seeing huge deficits, but things will change in the Corona era.

In times of crisis, food prices tend to rise.

Moreover, the moment the Russian-Ukrainian war breaks out, a global food crisis will occur.

So, it was never a loss to secure food in advance.

“It’s certainly a very good proposal. But that doesn’t mean it’s a proposal that would give special benefits only to Korean companies in this trade war.”

“Even if the biofuel bill is not passed, we will invest $22 billion annually in the agricultural belt. And we will sign contracts with South American countries, including Brazil, to prevent China from importing agricultural products at low prices.”

“Hehehe, this is why I like you. I think I would feel better if I could make an offer like this.”

All those in power put national interests first.

But what can you do without the support of the people?

In order to implement the policies I wanted, approval ratings were essential, and with re-election still to come, my proposals would have felt even sweeter.

“So, are you guaranteeing the technology protection agreement and China’s trade autonomy?”

“I can’t guarantee it indefinitely. Let’s give it a grace period during my term. If I’m re-elected, the term will be automatically extended.”

President Trump did not hide his desire for re-election.

It never felt like an excess, because a supreme power without ambition would have no reason to be in that position.

“We will continue to look for ways to help. And we will continue to buy U.S. Treasury bonds.”

“Would you believe that one of you is more trustworthy than a thousand bureaucrats in the White House? That’s my honest opinion. I’ll let you know my true feelings soon.”

It was President Trump who smiled meaningfully.

Although he had a bad personality in many ways, he was not a liar.

I was certain that the White House would change its tone to benefit the Taewoo Group.

It was definitely not an unfounded conviction.

This confidence was possible because it was based on the evidence of US bonds and agricultural products.