WeTried Translations
Translator/Editor: LilGuyBlastoise
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◈ Second Life of the Trade King ◈
Chapter 20: The Great American Drought of 1988 (2)
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President Lee Man-su arrived at the Yeongdo shop just after noon.
A black sedan stopped in the narrow alley, and after getting out, Lee Man-su looked up at the shop sign for a moment.
The neighborhood did not suit the appearance of the president of Korea's fifth-largest feed company, but after a brief hesitation, they pushed open the door and went inside.
My father greeted the visitor from behind the counter.
Though it was an unfamiliar face, Father seemed to recognize at once from the suit and atmosphere that this was not someone from the neighborhood.
“Where are you from?”
Lee Man-su hesitated for a moment, then held out a hand.
“It’s been a long time. I’m Lee Man-su.”
Father’s eyes trembled slightly.
After hesitating over what to say, Father took the offered hand.
“Well, would you look at that. It’s been a long time.”
“...You must’ve resented me a lot.”
“Resentment? No... I have a lot of regrets.”
“...”
After letting go of Lee Man-su’s hand, Father called out at the top of his lungs.
“Hey! Come out here, quick! We have a guest!”
“I’m already out here.”
I walked over slowly and gave Lee Man-su a slight bow.
“Hello. You came without calling.”
“I wasn’t in a state of mind to call. Let’s go inside and talk.”
“Come in.”
The shop had originally been so packed with goods that there was nowhere to sit.
But as Yeongdo Trading prospered, Father cleared out the room we had used as storage in the back and furnished it to receive guests.
Now we did not need to go to a coffeehouse just to entertain visitors.
It was still far from what anyone would call a proper company, but I did not care in the slightest.
I knew that in a trading company, having the right people in your grasp mattered more than fancy business cards or an impressive building.
“Would you like some coffee?”
“No. Cold water will do.”
Before I could move, my older brother quickly came over, set down two glasses of water, and disappeared.
I gave him a grateful look, and after glancing at me, he went right back to work.
“You’re wondering why I came, aren’t you?”
I smiled faintly.
“Do you know why I came?”
“More or less.”
“Then take a guess.”
“If the president of a feed company came looking for me, it must be about grain. There’s been a severe drought in America, so you must be having trouble securing supplies.”
Lee Man-su looked deeply surprised.
“How did you know that? It shouldn’t have made the newspapers yet.”
“I heard it from Australian shipping companies.”
“Ah, I see. Your connections really are solid.”
Doing business with several Australian shipping companies naturally meant hearing about trends in the global grain market, even when I did not want to.
And since I also had memories from before my regression, vague recollections were completed into a perfect picture once they were joined by real information.
So I could have guessed why the president of Han-il Feed had rushed over without even calling, even with my eyes closed.
“Corn yields are down around thirty percent, and soybeans are at a similar level. Chicago prices are nearly double what they were last year.”
“...You’ve been watching even that.”
Lee Man-su looked mildly surprised, then nodded.
“Fine. To be frank, Han-il Feed depends heavily on the United States. We need to diversify our supply lines... Can we use that Australian grain line we signed a preliminary contract for a few months ago?”
This expression was completely different from the one Lee Man-su had worn while stamping the contract in the office, saying there was nothing to lose.
Back then, it had been the ease of someone thinking, Let’s go along with it for now.
Now, it was the desperation of someone thinking, This is our way to survive.
“The preliminary contract is still valid. But the market is different now, so we need to renegotiate the terms.”
“...Of course.”
Lee Man-su knew what that meant.
With grain prices soaring due to the drought, the price agreed upon back then could not remain the same.
And regardless of how it was adjusted, it would still be much lower than the existing import price through the Agricultural and Fishery Products Marketing Corporation.
The price quoted by Yeongdo Trading, which held the Australian Department of Trade’s priority cooperation channel, could not help but be more competitive than anywhere else in the market.
“Let’s discuss the specifics, then. First, the volume...”
Just as Lee Man-su was about to continue, the first-floor shop door burst open with a bang.
Urgent voices followed. There seemed to be at least two people.
“Is President Kim here?”
“We’re from Dae-il Sugar!”
Lee Man-su and I met each other’s eyes.
The way Lee Man-su’s pupils shook made it clear they had instinctively realized something was going wrong.
“He’s in there... but he has a guest right now, so you’ll have to wait.”
“We came from Dae-il Sugar’s Seoul headquarters. We need to see him urgently.”
“Honestly... just wait a moment.”
Father soon came inside and spoke.
“They say they came from Seoul.”
Before I could answer, someone poked their head around Father’s shoulder.
“Hello. I’m Manager Choi Seong-hwan from Dae-il Sugar’s Food Ingredients Department.”
Father looked flustered, but I spoke first.
“It’s all right, Father. Is anyone else outside?”
Manager Choi answered.
“They’re with me. They can wait outside.”
Manager Choi was dressed in a neatly pressed black suit, as expected of someone from a large Seoul corporation.
Around the mid-thirties, with neatly slicked-back hair and gold-rimmed glasses, Manager Choi looked more polished than most people in Busan.
“My business card...”
I raised a hand.
“Just a moment. I haven’t finished my conversation yet.”
Manager Choi briefly looked Lee Man-su over.
Perhaps Lee Man-su clearly looked like the president of a small local company, because Manager Choi turned back to me.
“If this is about grain allocations, wouldn’t it be better to hear our proposal before making a decision?”
It was the typical tactic of putting a corporation’s name forward to gain an advantage in negotiations.
In a way, it was a textbook move, but to me, Dae-il Sugar was simply Client Number Two.
“That is for me to decide. Would you wait outside?”
Manager Choi looked dumbfounded for a moment, then gave a slight bow and went back outside.
Lee Man-su looked worried instead.
“President Kim, are you sure this is all right?”
“What do you mean?”
“I mean, they said they’re Dae-il Sugar. Is it really all right to treat them like that?”
I snorted softly.
“If you’re worried about me, there’s no need. And wouldn’t this be better for you, too? What would you do if I got carried away by the name Dae-il Sugar and gave them all the volume?”
“That would be good for me, but...”
“You have nothing to worry about. Shall we discuss the price first?”
“Let’s do that. What do you have in mind?”
With even a Dae-il Sugar employee here now, Lee Man-su had no choice but to accept my terms as long as they were not excessive.
“The previously agreed price is no longer meaningful. At the time, Chicago corn prices were around $1.80 per bushel. Now they are twice that. The Australian majors are all quoting new prices for imports into Korea as well. Our own cost is different from back then.”
“...I know. I understand that.”
Lee Man-su let out a short sigh.
“So, what is the new price?”
“I can offer 120,000 won per ton, delivered to Busan Port. For both corn and soybeans.”
Lee Man-su’s eyebrows rose slightly.
They seemed to be calculating quickly.
“...Through the Agricultural and Fishery Products Marketing Corporation, we paid 140,000 won per ton.”
“Yes. It would be between 135,000 and 145,000 won. Their margin, freight, insurance, and procedural costs are all added on. We receive goods directly from the Australian majors, so all those middle stages are eliminated. Even after adding the Chicago price per bushel, $25 per ton for ocean freight from Australia to Busan, and Yeongdo Trading’s margin, it stays within 120,000 won. That is based on an exchange rate of 730 won to the dollar.”
Lee Man-su lightly bit their lip.
A difference of 15,000 to 20,000 won per ton.
That figure was rapidly being converted in their mind into its monthly and yearly weight.
“...If we import 1,500 tons of corn a month alone.”
“That is 22.5 million won a month, or 270 million won a year. It becomes even greater once soybean volume is added. You reduce dependence on the United States while lowering costs at the same time.”
“...”
“And one more thing. Chicago prices are in the three-dollar range per bushel now, and they will continue to fluctuate until the spring crop outlook comes out. Transactions through the Agricultural and Fishery Products Marketing Corporation mean you bear all of that volatility. We negotiate quarterly price lock-ins with the Australian majors, so you can operate steadily within a locked-in price.”
Lee Man-su stared at me silently for a long time, then slowly nodded.
“...Fine. I agree to 120,000 won per ton for both corn and soybeans. Then how much volume can you provide?”
“1,500 tons of corn and 500 tons of soybeans per month. We cannot provide more than that.”
Lee Man-su’s face immediately twisted.
“Can’t you give us more?”
“I’m sorry, but I cannot give it all to you alone. You know that.”
When I tilted my head toward the outside, they lowered their head as though there was no helping it.
“Yes, you have your circumstances too. All right. Then let’s write the contract first.”
“Just a moment.”
Not knowing what the Dae-il Sugar manager outside might do, Lee Man-su wanted to sign the contract first.
Securing even 2,000 tons a month was important.
“As you will see in the contract, payment is in advance. You made advance payments to the Agricultural and Fishery Products Marketing Corporation too, correct?”
“Th-that is true.”
“It is not that I do not trust you. But because of my relationship of trust with the Australian authorities, I cannot afford even the smallest mistake.”
“All right. Let’s do it that way.”
After Lee Man-su stamped the contract and left, Manager Choi Seong-hwan came inside.
The displeasure on Manager Choi’s face was obvious from the moment they entered.
“This is unexpected.”
“Yes? What do you mean?”
Manager Choi sat down, looked directly at me, and spoke.
“I wondered whether Dae-il Sugar had been so lacking in Busan. It made me think we need to try harder.”
In short, Manager Choi was politely saying they were upset.
“I had a prior appointment, so there was nothing I could do. An appointment is an appointment.”
“...Very well. What volume and price can Yeongdo Trading offer us?”
I had no intention of giving Dae-il Sugar different terms from Han-il Feed.
“1,500 tons of corn and 500 tons of soybeans each month, for a total of 2,000 tons. The price is 120,000 won per ton, based on an exchange rate of 730 won.”
Manager Choi shook their head.
“That is too little. It needs to be at least 5,000 tons.”
“That is difficult right now. If we trade without problems for at least a few months, the consigned volume will increase. Until then, 2,000 tons is the limit.”
“How much did you give Han-il Feed?”
“The same amount.”
“Fine. Then give us the 4,000 tons, including the volume for Han-il Feed. We will pay 130,000 won per ton.”
Manager Choi declared it boldly, but I waved a hand.
“I cannot take back a signed contract. If you wait about three months, I can increase the volume. Why not wait until then?”
Manager Choi frowned, crossed their arms, and spoke.
“Then you are asking us to take 2,000 tons at 120,000 won per ton? Well, that will be difficult. The volume is too small for a transaction.”
“Is that so? Then there is nothing we can do.”
When I shrugged as if to say, Take it or leave it, Manager Choi’s expression hardened and they leaned forward.
“Listen, President Kim Hyun-woo. It seems you got lucky and secured an Australian line, so now you are acting recklessly. That will get you into serious trouble. To put it bluntly, do you think we cannot secure the Australian line you have? We can do it even better. Once we do, you will not be able to stay in business.”
Manager Choi spoke as if concerned for me, and I lifted one corner of my mouth.
“Manager Choi.”
“Yes?”
“You did not find our company yourself, did you?”
Manager Choi’s eyes trembled slightly.
“What are you talking about?”
“You just came because your superiors told you to. They said there was a small company called Yeongdo Trading that had secured an Australian line, so you should go get some volume from them.”
“...”
“You rushed down here because it was urgent... I understand that you are anxious because the amount available is small, but you should have understood the situation before coming. Go make a phone call. If you still want to secure an Australian line yourself after that, you may do so.”
As Manager Choi’s face twisted, I rose from my seat and spoke.
“And if you truly intend to do that, you will not hear kind words from your executives. This is advice. If word gets around the industry that Dae-il Sugar bypassed Yeongdo Trading to negotiate directly with Australian companies, it will be read as Dae-il Sugar acknowledging Yeongdo Trading’s line. It will look as if Dae-il Sugar was rejected by the twenty-six-year-old president of a new company and had to find another way. What executive do you think would like that?”
“...”
“Think it over and come back this evening. I will not give the volume to anyone else until then.”
I left Manager Choi, who still did not know what to say.
After wandering around Yeongdo and having a bowl of pork-and-rice soup, they would probably come to their senses and return with both hands respectfully clasped.
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