Russia's economic situation was worsening steadily.
With sanctions hitting finance, the military, and even the grain industry, things couldn't be any better.
In this situation, I called David to Korea, and he arrived carrying a wealth of information from the White House.
"Boss! Word is spreading all over Wall Street that Finance Tower is scooping up money. Several sizable hedge funds are even asking to be connected to enter Finance Tower."
"We can't just accept anyone. From now on, any financial company wanting to move into Finance Tower must receive the approval of the majority of existing Finance Tower firms."
Many financial companies were lobbying.
Even among Finance Tower companies, attempts were being made to insert friendly small and medium financial firms.
That's why we adopted this policy.
We planned to carefully assess all candidates before granting entry to Finance Tower.
"Both people and companies need to seize opportunities well. If they had applied before Finance Tower was established, it would've been easier to get in."
"That's how things always work. But what's the atmosphere like at the White House?"
"The public opinion isn't very favorable. Many voices say the White House is handling the Crimea crisis too passively. So they might impose additional sanctions."
"They're aiming to completely strangle Russia's lifeline."
In reality, sanctions might not even be necessary.
Once oil prices start to fall soon, Russia's economy would freeze on its own.
If economic sanctions and falling oil prices hit simultaneously, Russia would even face the risk of default.
"They seem likely to impose sanctions until Russia's credit rating drops to junk status."
"You said timing is everything, right? Just like companies that applied when Finance Tower was struggling are now profiting, those who reach out to Russia now could gain much."
"That's true. But I don't think the U.S. will watch quietly. Of course, if I mediate well, we can resolve it without major issues, but maintaining the good relations we once had will be difficult."
Helping Russia now was tantamount to making enemies of the U.S. and the Western world.
Thanks to the trust built up until now, no major problems might arise, but I didn't want to lose over ten years of trust.
"So we need to proceed quietly. And we're not exactly helping Russia—we're just using them."
"Do you have a way to move quietly?"
"We're inviting a few EPL teams to host charity matches in Korea."
"Hosting charity matches all of a sudden?"
"When teams are invited, sometimes the club owners come along as well."
"Ah! So you plan to bring Roman to Korea for discussions."
Roman was a high-ranking figure in the Russian government.
He had served as a governor and was an entrepreneur favored by Putin.
And since he was also the owner of an EPL team, it made a perfect justification.
"I've already finished discussions with Roman. He'll arrive in Korea in mid-next month."
"What should I do then?"
"You'll go to China and grease the wheels. This matter has to involve China as well."
"Dealing with China is no problem, unlike Russia. I'll go and make sure everything is handled smoothly."
The relationship between the U.S. and China was still amicable.
Although there were minor frictions, the full-blown U.S.-China conflict had not yet begun.
So it was easier for David to operate in China than in Russia.
***
The EPL teams' tour in Korea.
It was an event that began in Korea and continued on to Japan.
In Korea, Taewoo Group was in charge; in Japan, the event was hosted by Miura Securities.
That way, there would be no suspicions.
It wasn't a Korea-only event—it was tied to Japan, with the main venue actually in Japan, and the matches in Korea were little more than practice games.
So the event began.
A match between Taewoo Group Football Club and the EPL team was held at Busan World Cup Stadium.
I watched from the VVIP seats, and beside me sat Roman, the owner of the EPL team.
"It's really difficult to have a face-to-face conversation. We spent over ₩10 billion on this event. If I have to spend that much every time just to see you, even I find it a burden."
"In that case, why not just acquire an EPL club yourself? Then you could meet me anytime, naturally."
Roman looked quite different from the last time I saw him.
Back then, he was the governor, exuding a distinct political aura; now, he seemed completely free.
"You look happier than when you were governor."
"Politics just isn't right for me. All it brings is rivals—nothing else good comes out of it. Doing business, running a company, and watching football—that's much more suited to me."
"Russia's economy has been struggling lately. Are things alright for you?"
"…What can I do? Decisions come down from the Kremlin—I have no choice but to accept them."
Roman, the entrepreneur.
From his perspective, the Crimea situation wasn't a priority.
What mattered more to him was the reduction in profits caused by the Crimea crisis.
"It seems the sanctions will last quite a while."
"I expect at least three years. Honestly, I can't understand why we occupied Crimea—there's just no profit to be gained."
"The sanctions because of Crimea are a problem, but maintaining Crimea is even costlier. For one thing, Russia now has to supply energy that used to come from Ukraine."
The responsibility for Crimea had now fallen to Russia.
Russia had to bear the burden of welfare, including energy and food supplies, along with massive costs.
"Russia's economy is also in trouble. If all foreign companies leave, the Russian economy will collapse in an instant. The rubble is already plunging, and if this continues for a year, the ruble will be worth half its value."
"That's exactly why I wanted to meet."
"Is Taewoo Group planning to escape Russia as well? Ha ha, if even Taewoo Group pulls out, Russia's economic decline will accelerate further."
Many foreign companies had entered Russia,
but none had been as aggressive as Taewoo Group in building factories and infrastructure.
That was why Roman looked at me with a sad expression.
"We are considering it. If we lobby the U.S. political circles, we might manage to stay in Russia somehow. But the problem is shouldering huge losses."
"If necessary, I can offer you more shares in the Russian natural gas company. If Taewoo Group promises to remain in Russia, I will personally take responsibility for persuading the Kremlin."
Russia was desperate.
In truth, the Western economic sanctions were manageable.
Despite the rubble's freefall and Russian companies' stocks falling over 20%,
Russia still had abundant natural resources and enough capital to manage the country's operations.
The problem was infrastructure.
If all foreign companies leave, industries such as heavy manufacturing would revert to a previous era.
So Russia hoped to keep as many companies as possible to support its industries.
"If I acquire more shares in Russian natural gas now, won't the Western world impose sanctions on Taewoo Group as well?"
"…Is there something else you want? If it's Chairman Kim making the request, even unreasonable demands can be met."
Roman was anxious.
That showed how deeply Taewoo Group had penetrated the Russian economy.
Now that the initiative was mine, I was able to get straight to the point.
"We cannot seek direct profit. And with Russia struggling, how could Taewoo Group be the only beneficiary?"
"It would be ideal if both Taewoo Group and Russia could profit together. But is there such a way?"
"Taewoo Group has invested heavily in developing natural resources in the Mongolian region. But as you know, Mongolia is landlocked between China and Russia. So we want to transport Mongolian natural resources through Russia."
Through Russia, natural resources could be exported to Europe.
Although the purpose of developing Mongolian natural resources was to secure Taewoo Group's self-sufficiency,
Taewoo Group couldn't use all the natural resources themselves, so the majority had to be exported to other countries.
Europe was an excellent market, and using Russia's transportation routes opened the quickest path for exports to the European market.
"If that's the request, we can certainly accommodate it. But surely Russia doesn't have to bear full responsibility for creating the entire route connecting Mongolia and Russia, right?"
"How could we possibly ask that? Taewoo Group will provide full funding. More precisely, we plan to form a consortium with overseas investors to build a transportation route connecting Mongolia and Russia."
The name Taewoo Group had to be kept as hidden as possible.
Thus, a consortium had to be formed, and just by utilizing the financial firms in Finance Tower, creating a multinational consortium was no problem.
"If it's that kind of request, it's not difficult."
"But we plan to open three routes, not just one."
"The number doesn't matter. Since it will help the Russian economy, opening not just three but ten routes would be fine. In fact, we'd appreciate it if you could create many."
Though it was merely a transit route, there would be decent profits generated from the transport process.
So from Russia's perspective, there was no reason to refuse.
However, if other countries got involved in the middle, the situation would change completely.
"We want one of the routes to go through China and move to the port of Vladivostok. It's the shortest route to transport Mongolia's resources to Korea without passing through North Korea."
"Is the discussion with China finalized?"
"We haven't had substantial talks yet, but it seems we can get approval easily."
"Wouldn't it be better to transport through China directly? Using China's ports in Dalian or Qingdao could get Mongolia's resources to Korea even faster, right?"
It was a sharp observation, and a plan already in progress.
"We are also planning a transport route through China."
"Then why insist on using Vladivostok port?"
"In case relations with China sour. If Russia is involved in the project, China won't be able to interfere."
"That makes sense. But why would relations between China and Taewoo Group deteriorate? Even if other companies might, Taewoo Group's ties with China are very good, right?"
"It's just a precaution. The more routes, the better, right?"
We had to prepare for the Hanhanryeong.
Although relations between Korea and China were still amicable, they deteriorated after the deployment of THAAD.
Forming a multinational consortium was also to prevent China from using the Hanhanryeong as an excuse to obstruct transportation.
"That's good. Once this event ends, I will return to Russia and report to the Kremlin. Approval will probably be granted. No, I will make sure to get the approval."
"I will trust only you, Roman, the club owner."
We allied with a desperate Russia.
While the West called Russia a demon for forcibly seizing Crimea,
I was always ready to join hands with a demon if it benefited Taewoo Group.
And for Taewoo Group's sake, I could cut off the hand I held with the demon at any time.