Golden Spoon Investor

Chapter 566 566: CH567

The Eldorado Fund office in Manhattan, New York.

Standing before the panoramic window, Seok-won looked down at the ferry heading toward Brooklyn while speaking on the phone with Cha Sang-woo, the CEO of Bluehole Securities in Seoul.

"You're saying the fund sold out in a single day?"

[That's right. We thought it would take at least a month to reach the target amount, but I guess we seriously underestimated your reputation, Chairman.]

Cha Sang-woo was fussing as usual, but the praise still felt good.

"The target amount was one trillion won, correct?"

[Yes. And despite the management fee being nearly double the usual—three percent instead of the typical one-point-eight—we still got these results.]

Cha Sang-woo continued in a voice full of excitement.

[Didn't I tell you it would be a guaranteed success?]

Seok-won let out a small laugh and returned the compliment.

"Considering the current aversion to funds, pulling this off is impressive. Good work."

[Hahaha! Not at all. We just rode on your reputation, Chairman.]

After the modest reply, his tone quickly shifted back to confidence.

[That brings me to my point. I'm thinking of launching Fund No. 2 right away.]

"A second fund?"

[Yes. Originally, we planned to watch this fund's performance and launch it around the second half of next year, but when the tide is high, you row. With a response like this, there's no reason to wait, is there?]

"That's true."

One trillion won was a large sum, but considering the scale of capital Eldorado managed, increasing the entrusted amount posed no burden at all.

"Will Fund No. 2 have the same target amount?"

[No. Since we confirmed there's strong demand from people wanting to invest, we plan to expand the scale to accommodate more.]

"How much are you thinking?"

Cha Sang-woo answered immediately, almost as if he had been waiting for the question.

[Based on the new data, we ran the demand forecast again. It looks like we can comfortably raise at least five trillion won.]

The number was far beyond what he expected. Seok-won's eyebrows rose a little as he asked again.

"Five trillion?"

[Yes, that's correct.]

Cha Sang-woo sounded calmer than he did.

Seok-won adjusted his grip on the phone and answered with a hint of skepticism.

"The response was good, sure, but considering how conservative domestic investors are, isn't that scale a bit too ambitious?"

But unlike Seok-won, who was worried, Cha Sang-woo replied as if it was nothing to fret over.

[I thought the same at first, but it turns out your reputation is far stronger and more deeply ingrained in the public than we expected. We barely ran any ads, yet the fund sold out in a single day. That alone should tell you everything.]

As Seok-won listened quietly, Cha Sang-woo added more weight to his voice.

[The Buy Korea Fund also hit five trillion won. If they could reach that mark, there's no reason we can't do the same.]

Five trillion. It sounded unrealistic at first, but the more he thought about it, the more a competitive spark lit inside him. If a fund without his name hit that number, how could one with his name fall short?

"If that's the case, go ahead and proceed."

The moment Seok-won gave approval, Cha Sang-woo's tone brightened with confidence.

[We'll make sure this one is a success as well.]

"I'll be expecting good results."

Just then, Manager Han Ji-sung stepped in after a brief knock. He approached and spoke in a low voice.

"Chairman, we should leave now if you want to make it in time for your dinner with President-elect George W. Bush"

Seok-won gave a small nod and returned to the call.

"I should wrap this up. Go over the details with Landon."

[Understood.]

Once the call ended, Seok-won slipped his phone into the inside pocket of his jacket. Han Ji-sung spoke again.

"The helicopter to take you to the airport is waiting on the rooftop."

He took a jacket and a cashmere coat from the closet and helped Seok-won put them on.

As Seok-won shrugged into the coat and pulled on his leather gloves, he spoke calmly.

"We can't keep the next resident of the White House waiting. Call the airport and tell them to prepare for immediate takeoff as soon as we arrive."

"Yes, sir."

Han Ji-sung bowed slightly behind him, following like a shadow as Seok-won headed out first.

A short while later, the Bell 412 helicopter carrying Seok-won and his team lifted off from the rooftop helipad and headed toward the airport.

***

Washington, D.C.

A heavy snowfall the night before had blanketed the entire city in white. Near the White House, the transition office was buzzing with movement as people came and went nonstop.

The transition team had its hands full. They were responsible for taking over the entire administrative machinery of the world's most powerful nation. That meant everything from forming the new administration to selecting ambassadors who would be dispatched around the world.

But this election had been a mess. The result had been delayed for more than a month due to disputes over ballot counting, drastically shrinking the transition period and throwing the entire process into chaos.

Li Jachun, head of New Material Technology's U.S. branch, and Deputy Director Liu Guoliang were waiting in a designated room with other visitors.

Sitting beside them was a middle-aged man with a square face and medium build, looking extremely uncomfortable.

It was Xu Han, the CEO of New Material Technology, who had rushed in from Beijing only a few days earlier.

His stiff expression made it clear how bad things were. Li Jachun and Liu Guoliang couldn't help but feel tense as well.

"They're keeping us waiting quite a while."

"They all seem swamped," Li Jachun replied carefully.

Next to him, Deputy Director Liu kept checking his watch, restless at the thought of being left to wait for an hour again with no explanation, just like last time.

Not again. Please, not this time.

As he nervously wiped sweat from his palms, a brown-haired woman in a two-piece suit approached.

"Are you the representatives from New Material Technology?"

"Yes," Liu answered immediately.

"I'll take you to Mr. Romero's office. Please follow me."

The four of them—Xu Han, his secretary, and the two branch leaders—stood up.

They followed the staff member down a long corridor to the office at the very end. Inside, a middle-aged man sat behind a desk.

He was on a call, but when he saw Xu Han and his group enter, he gestured for them to wait a moment.

"Good. Handle it that way."

When the middle-aged man finally set down the receiver, the assistant spoke.

"I've brought your guests."

"Ah. Yes."

With the snow-covered White House behind him through the window, the man stood and stepped around his desk. His blue eyes quickly scanned Xu Han from head to toe before he reached out first for a handshake.

"Daniel Romero."

"Xu Han, CEO of New Material Technology."

Xu Han took out his business card holder from his inner pocket and offered his card politely.

"Your English is remarkably fluent."

"I studied at Columbia University and earned my master's degree there."

"Ah, that explains it. I thought your pronunciation sounded very natural."

"Yes."

Romero glanced at the card and then casually stuffed it into his pocket. Xu Han's expression stiffened for a split second, but he immediately covered it with a polite smile.

"Well then, let's sit and talk."

Romero said this and moved to the center seat—clearly the top seat—before sitting down.

Xu Han and his group took their places on the sofas to either side. Romero then looked toward the brown-haired assistant who had led them in.

"This won't take long, so we don't need tea."

"Understood."

When the assistant closed the door and left, Xu Han's group couldn't hide their discomfort.

Even offering tea as a formality was basic protocol. Skipping it altogether was outright disrespect.

Unbelievable…

Such blatant disregard?

Li Jachun and Liu Guoliang exchanged helpless glances.

But unlike his subordinates, Xu Han didn't show even a hint of displeasure.

Their host held the key to solving their problem, and more importantly, he was one of President-elect George W. Bush's closest aides. Romero was widely considered the top candidate to become the next Secretary of Commerce.

Trade, advanced-technology controls, and the entire economic apparatus would fall under his authority. Being on his bad side would bring nothing but trouble for Xu Han.

Romero crossed one leg over the other and spoke with a slightly condescending air.

"I'm sorry, but my schedule is packed, so let's skip the introductions and get straight to the point."

"Then I'll be direct. We'd like your help in allowing us to relocate the Magnéquench plant in Indiana, which we acquired and currently operate."

Romero leaned back against the sofa, shrugged, and replied with an easy, almost playful tone.

"If that's what you're here for, then you've come to the wrong place. You should be talking to CFIUS about that, not the transition team."

Xu Han already knew the president-elect's camp had intervened to halt the relocation. Watching Romero pretend otherwise was almost laughable, but he masked his irritation and continued.

"We've gathered information through several channels and heard the transition team was against moving the Indiana plant."

"That's correct."

Romero admitted it more readily than expected.

Xu Han, now even more suspicious, spoke politely.

"As you know, we acquired Magnéquench through proper procedures five years ago, and the plant relocation was pre-approved by CFIUS. If there's something we overlooked or anything we need to cooperate on, please let us know."

In other words, tell us what you want in exchange for approving the relocation.

Romero narrowed his eyes and studied Xu Han for a moment before giving an answer that said nothing.

"What we want is simple. Don't relocate the plant. Keep operating it in Indiana."

"We would prefer that as well. But due to excessive regulations and environmental protests, it has become impossible to run the plant normally. We're being forced to relocate."

"In that case, you can upgrade the facilities to meet the regulations and continue operating."

He knew full well that wasn't realistic, yet he pushed it anyway. Xu Han couldn't help but frown on the inside.

"If we do that, unit prices will rise significantly. That would inevitably harm the production costs of American products that rely on neodymium magnets."

The moment he said it, Romero's eyes lit up as if he'd been waiting.

"Exactly. That's why the plant must not be relocated. Neodymium magnets, the strongest permanent magnets in existence, are essential not only to civilian products but also to advanced U.S. military weapons. Keeping domestic production is vital for national security."

But Xu Han still couldn't give up and tried again, appealing earnestly.

"A substantial number of components used in weapon manufacturing are imported anyway. If we relocate, we can supply the U.S. government and American companies at much lower prices and in far greater volume."

It wasn't an exaggeration. Many imported parts were used in weapons manufacturing.

Then Romero suddenly cut in with a sharp, piercing look.

"I did some digging into your company. At first, a consortium of Chinese rare-earth firms acquired Magnéquench from GM, but less than six months later, New Materials Technology took it over."

"..."

"It's hard not to suspect that you inserted an intermediary because it would have been too awkward for New Materials Technology to acquire it directly. Isn't that right?"

The question came like an interrogation. Xu Han felt cold sweat slide down his spine.

But outwardly, he kept his composure and shook his head.

"No. We believed it would be more efficient for a single company to manage everything rather than dividing operations among several firms. That's why we acquired the entire stake."

"Hm. I'm not so sure."

Romero let out a short, dismissive snort.

"I'm aware that Chen Tao, former Chairman Deng Xiaoping's son-in-law, is the real owner behind New Materials Technology."

Xu Han felt his stomach drop. He froze for a moment.

Li Jachun and Liu Guoliang, seated beside him, also failed to hide their panic.

"To be clear," Romero continued, voice hardening, "we suspect China used deception to fool the U.S. government so it could secretly steal advanced technology. If that turns out to be true, you won't just face criminal charges and federal sanctions. It will also hurt China's efforts to join the WTO."

Watching their reactions, Romero smirked and delivered the warning with unmistakable force.

The color drained from the faces of Xu Han and his group.

At this point, the plant relocation was the least of their worries. One wrong step, and the situation could explode into a full-blown international dispute.