The Return of the Ruined Chaebol's Third-Generation Heir - Chapter 84

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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Regression of a Fallen Chaebol’s Third Generation — Episode 84
“Welcome. I should have gone to pick you up.”
Four days later, in Cheongju.
The moment I finished my schedule in America and returned to Korea, I came straight from Incheon to the Ochang Industrial Complex.
As soon as I stepped out of the car, Jung Tae-sung greeted me.
“There’s no need to trouble yourself. The employee that Director Choi sent made it very convenient.”
I’d stopped Jung Tae-sung from going to Incheon Airport to pick me up, arranging instead for an SJ Security employee to meet me there.
“Shall we head over then?”
We walked to check the grounds, and the wind was quite fierce.
“It’s still pretty empty.”
“Yes, all the land construction was completed early this year, and sales only finished a month ago.”
December in Ochang was desolate beyond measure. The bare earth was packed solid, with asphalt roads laid out in long stretches across it.
‘One day, this place will become the hub for batteries, semiconductors, and materials, parts, and equipment.’
I already knew how this place would transform. It would grow dramatically, flanked by the KTX station and Cheongju Airport. Though it was barren wasteland now, Ochang-eup would become the most populous area in Cheongju.
“Three hundred thirty thousand square meters—roughly one hundred thousand pyeong. Almost no grading work needed, and immediate purchase is possible.”
“I thought you said all the sales were finished. This plot must be the only one left unsold.”
“Yes, the land was originally zoned as a large block on the assumption that a major corporation’s production line would come in…….”
“But the major corporations all went to different blocks.”
“Exactly.”
Seeing it in person was different from hearing the figures. The National Assembly compound in Yeouido is about one hundred thousand pyeong, and here before my eyes lay that entire expanse of empty land.
“You said ten minutes to Kumsung Chemical and twenty to Hansung Semiconductor?”
“Yes. If Shinhwa Welltech supplies the three major battery companies, it would take about five hours by truck from Ulsan, but here everything’s within an hour’s distance.”
Walking through the middle of the barren field, there was nothing. No factories, no research centers, no people.
“I like it. With this kind of scale, we could relocate not just Shinhwa Welltech but also Synapse and even SJ Security’s office here.”
“Exactly. If you acquire other companies later, we could bring them here too. The scale certainly allows for it.”
As Jung Tae-sung and I were walking the grounds in conversation, a car appeared coming our way.
“They’ve arrived.”
The car stopped and Park Jin-hyeok and Seo Min-seung got out together. They must have come up from Ulsan together, and we’d agreed to meet here upon my return.
“Director.”
“Director Park, Director Seo. Welcome. Thank you for making the trip.”
“Come on, as if you’re not the one rushing over right after flying back from America.”
Park Jin-hyeok waved his hand dismissively, and a chuckle escaped me.
“This is the place?”
Park Jin-hyeok looked around and asked.
“Yes, it’s a candidate site for now. Shall we walk around?”
I said that and started walking, the three following behind me.
“Director Park. From here to there—what do you think if we set up the Electrolyte Additive mass production line?”
Park Jin-hyeok’s footsteps stopped.
“Mass production?”
“Yes. Right now in Ulsan we’re researching and producing prototypes, but by the time a factory is built here, wouldn’t we be ready to move into mass production?”
Of course, mass production required customers, but I had the funding, and I planned to use the newly built line as a sales point.
“To beat the Japanese companies currently dominating the secondary battery materials market, we first need a properly equipped production line. Then domestic corporations will take interest.”
I watched Park Jin-hyeok.
“With mass production scale comes unit cost reduction, and with competitive pricing, Kumsung Chemical will come to us. Since we’re close, it’s definitely feasible.”
Park Jin-hyeok didn’t answer, just looked out over the barren field.
His face showed him picturing how what had been made in the Ulsan laboratory for years would expand to factory scale.
“What about the Ulsan line?”
“We’ll use it as the joint venture line with Shinei. Here we’ll develop and mass-produce all products—semiconductors, secondary batteries, everything.”
“……It sounds good. To be honest, the scale is so beyond my imagination right now that it’s both exciting and a bit dizzying.”
At Park Jin-hyeok’s response, I smiled and turned to look at Seo Min-seung.
“Director Seo. We’ll build Synapse’s Robot Arm production line and research center next to this area.”
Seo Min-seung nodded.
“This should be worth attempting. As for researchers, we could probably bring them from the Korea Advanced Institute of Science and Technology in Daejeon.”
“By the way, there’s something I need to tell you. Someone will be coming from America within six months.”
“Someone?”
“That researcher you said we needed.”
“Could it be…….”
Seo Min-seung faltered.
“Yes. A researcher to put a brain in our Synapse Robot Arm. They’re developing the logic for robot learning, and if the research advances further, they’ll become artificial intelligence.”
The Synapse Robot Arm had its body but lacked the intelligence to control it.
Seo Min-seung had researched that at university, but it hadn’t even progressed to a prototype yet.
“They’re from UC Berkeley and conduct research on robot control using Reinforcement Learning. I’m thinking of giving them full authority over the research center. Would that be acceptable?”
While Seo Min-seung was technically Synapse’s director, he was also a researcher and engineer.
“Of course. I’d have much to learn from them. I’ll handle the hardware side—the robots themselves—and the newcomer can handle the software.”
Seo Min-seung sorted out the arrangement himself, and I nodded in approval. Then I turned to look out over the barren field.
“I’m thinking of building our own ecosystem here.”
The three men looked at me.
“Not just one factory—we’ll produce materials here, manufacture robots here, and those materials and robots will flow into battery factories and semiconductor plants.”
A strong wind swept across, but in my mind’s eye, I could already see this place completed, an integrated ecosystem fully formed.
“It’ll keep growing. We’ll build more companies and establish them here, not just two.”
“…….”
The three of them seemed to be trying to gauge just how far my ambitions extended.
“What I’m envisioning is bigger than this. I wish I could explain it in words……, but I think it’ll be faster to show you as it unfolds. What do you say? Will you come along?”
At my question, all three nodded without any objection.
“Of course. I decided this back when you acquired Shinhwa Welltech.”
“I made up my mind the moment you spoke and I went down to Ulsan.”
Park Jin-hyeok and Seo Min-seung said as much.
“Good. Director Jung.”
“Yes, Director.”
“Let’s go with this site. Arrange a meeting with Cheongju City as soon as possible and acquire the land. Spare no expense, consult with both directors, and let’s start with factory design.”
I gave that order and looked out over the barren field once more. Though there was nothing here now, the ecosystem I envisioned would begin here.

* * *
Conference room of the Industrial Policy Division, Ulsan City Hall. The afternoon routine working meeting had been going on for an hour.
“Well then, let’s leave it at that. Next item?”
The division chief passed over a document. Oh Seong-min from Industrial Support opened his mouth.
“It’s about the Mipo Industrial Complex. There’s word that one of the tenant companies is looking for land in North Chungcheong Province.”
“North Chungcheong?”
“Yes. There was an article in the North Chungcheong local press. It says they’re scouting for a large-scale site in the Ochang Industrial Complex area.”
“A company from Mipo goes all the way to North Chungcheong to look at land? Which company?”
“A chemical materials company called Shinhwa Welltech.”
The division chief stopped his pen. He looked thoughtful for a moment.
“Shinhwa Welltech…….”
“They’re in Block Four.”
The division chief nodded. He seemed to remember.
“Ah right, the one that formed a joint venture with a Japanese company? Shinei……something.”
“Shinei Chemical.”
“That’s it. They make semiconductor materials, right?”
“Yes. They produce high-purity chemicals, and since forming the joint venture, sales have been growing over thirty percent annually.”
“If they’re doing that well, why are they leaving?”
Oh Seong-min paused briefly.
“They made an inquiry early this year about securing additional land. For factory expansion.”
“Where?”
“Blocks Six and Seven.”
The conference room fell silent.
“Ah, if it’s there…….”
The division chief trailed off.
Blocks Six and Seven.
Everyone in this room knew what those sites were designated for.
“Since they couldn’t secure the land, they’ve started looking elsewhere.”
The division chief set down the document and leaned back in his chair.
“They wouldn’t be expanding if they didn’t have the orders coming in.”
“That’s right. Factories One and Two are running at full capacity, so there’s no more space available.”
“So because we wouldn’t give them land, they’re going to leave?”
Oh Seong-min couldn’t answer. The division chief looked around the room.
“Setting aside Blocks Six and Seven. Are there no other empty blocks? Anything else?”
A staff member passed over materials and answered.
“Block Twelve is vacant.”
“Why not give them that?”
“Block Twelve is about eight kilometers from their current factory.”
“Eight kilometers?”
“Yes.”
“If a chemical materials factory is eight kilometers from the existing line, what’s the point?”
Oh Seong-min answered.
“Considering raw material transfer and workforce management, it’s essentially a separate facility. It’s more like building a new factory than an expansion.”
“……They’ll probably reject that too, it sounds like.”
The division chief crossed his arms. For a moment, no one spoke.
“How much of that joint venture does the Japanese side own?”
“Forty-nine percent.”
“Forty-nine percent counts as Foreign Direct Investment Attraction.”
“That’s right.”
The division chief picked up the document again, then set it down.
“They’ve got the FDI achievement, they’re growing sales, they’re probably hiring more. If a report goes upstairs saying a company like this is leaving, what are we supposed to say?”
No one answered.
“Director Oh.”
“Yes.”
“Give them a call. At least show them Block Twelve. See if there’s anything we can do with tax incentives or subsidies.”
We had to hold on to them. If word got out that a thriving company was leaving because there was no space, and worse, rumors that Blocks Six and Seven were essentially reserved for someone else?
This was bound to become a problem.
“……Understood.”
“Either way, if they move, there’ll be a lot of permits and procedures to handle. Make it clear we’ll be more cooperative in those areas. And let them know our subsidy budget is looking decent this year.”
With the division chief’s words, the meeting ended, and Oh Seong-min returned to his desk.
“Phew, what can I even say.”
Early this year, a man named Jung Tae-sung had sat in this office.
Block Six, right next to Block Four, or Block Seven.
That was all he wanted.
“Even I thought I was being pretty curt with my refusal…….”
It wasn’t a lie exactly, but that was just Oh Seong-min’s perspective. The other party must have sensed something.
“Still, I need to at least make the offer so I have something to tell the higher-ups.”
Oh Seong-min, as if making a decision, picked up the phone.

* * *
“Good morning…….”
The next morning, as I entered the office, Jung Tae-sung was on the phone, and when our eyes met, he nodded politely.
I nodded back and took off my coat, hanging it on the rack.
“Yes, I’ll think it over and get back to you.”
Jung Tae-sung hung up and came over to me.
“Welcome.”
“You’re busy this morning.”
“Well……we got a call from Ulsan.”
I sat down and looked at Jung Tae-sung.
“From Ulsan?”
“Yes, from the Mipo Industrial Complex Management Corporation. They’re asking if we’d like to come look at a plot called Block Twelve. They said they’d match us on tax incentives and subsidies.”
“How far is Block Twelve from the current factory?”
“Eight kilometers.”
Ulsan was trying to hold on to us at the last moment.
“So they’ll never give us the land we actually want.”
“That plot……as I mentioned before, it seems to be reserved as a subcontractor site for Seonjin Motors.”
Under other circumstances I might have given it some thought, but their offer was no longer attractive.
“How are things progressing in Cheongju?”
“We’ve set the official signing for next week. Vice President Kim will go in person and meet with the mayor, and that’s already confirmed.”
“That’s excellent. The place that sends a working-level proposal versus the place where the mayor himself meets—the answer’s pretty clear, isn’t it?”
“Then we’ll proceed without any change to the plan.”
I nodded and opened the documents on my desk.
My decision was made, and I had no time to worry about them.

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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