WeTried Translations
Translator/Editor: LilGuyBlastoise
Discord: https://dsc.gg/wetried
◈ Second Life of the Trade King ◈
Chapter 6: Grain Ship Supply Bidding (4)
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I headed for the Yeongju-dong office, crossing Yeongdo Bridge without delay after hearing that I had won the bid.
When I opened the office door, Mr. Park was standing before his desk with a sheet of paper in his hand.
“Hyun-woo, it went through.”
I took the paper and saw that it was the bid result notice from headquarters.
One line stated that Pacific Grain Lines’ Australian headquarters had formally accepted the bid submitted under Kim Hyun-woo’s name.
Mr. Park slowly sat down and spoke.
“Hey, this really wasn’t easy, you know? When headquarters first got your quote, they were suspicious as hell. You’re a student, and your quote was 25 percent lower. They were saying, ‘What is this, some kind of scam?’ If it had gone up through the normal reporting process, headquarters would’ve rejected it outright.”
“So what happened?”
“So I marched straight into headquarters myself. I sat three executives down and told them Kim Hyun-woo had secured Jagalchi, the meat supplier, and Young-tae Shipping. Only then did they say, ‘Ah, this kid’s no ordinary amateur.’ After that, things went smoothly. The Australian shipping company adopted it right away, haha!”
“Thank you so much, Mr. Park.”
I meant it sincerely.
Mr. Park took a sip of tea, leaned back in his chair, and said, “Hyun-woo, you don’t think I’m helping you just because of my old ties with President Kim, do you?”
“...”
It made no sense for him to go all the way to Seoul and persuade headquarters executives solely because of an old connection.
Of course, there had to be something in it for him as well.
“That’s right. To be honest, there’s one more thing. For five years, our Dong-yang Shipping Agency has recommended only one supplier, Daeseong Fisheries & Produce, to the Australian shipping company. Five years, five whole years. We kept recommending the same company at the same prices. Don’t you think they’d be keeping an eye on us? Even I can see how fishy it looks. Those people aren’t idiots. They must know Busan Port prices are high.”
He meant that the Australian headquarters might view the Korean operation with suspicion.
“That’s true.”
“The higher the supplier prices are, the less reason those Aussie bastards have to like our agency. Just when I thought my head was about to split open, you appeared right in front of me, see?”
“I got lucky, and so did you, Mr. Park.”
“That’s why they say life is seven parts luck and three parts effort. Once this quote goes through, our agency’s pricing will be brought back to normal in the Australian shipping company’s eyes. And then headquarters’ assessment of us will change too.”
“...”
“That’s why I went to see the headquarters executives myself. Old ties with President Kim wouldn’t have taken me that far. I didn’t have to tell you this, but I thought I should be honest. I’m a man, after all.”
“That’s good. I’d rather it benefit you than have you help me for nothing.”
Mr. Park grinned, apparently pleased.
“Hahaha! That’s the right way. Both sides need to benefit for things to last. If only one side benefits, it won’t last long.”
Help based on shared interests was bound to be far sturdier than help based on personal ties.
When profit was at stake, people were less likely to betray you.
“That’s right. I’ll make sure this first deal goes well and improve your headquarters evaluation too.”
“Forget that. The person in charge from the Australian shipping company’s Korean branch is coming here tomorrow. His name’s David Jo. He’s second-generation Korean, so don’t get nervous. His Korean is excellent.”
“David Jo?”
“Yeah. His Korean name is Jo Jae-hoon, but it’s a little old-fashioned, right? Park Man-ho and Jo Jae-hoon, aren’t they much the same?”
“Haha!”
“Anyway, they know him as David at the company here. He’s used to Australian business etiquette, so keep that in mind.”
“Yes!”
The next morning, at Dong-yang Shipping Agency, Mr. Park led me to the conference room and added a brief remark.
“This gentleman isn’t coming to inspect you. He’s coming to set the arrival schedule. It’s just a formality, so don’t be too nervous.”
“Yes.”
The conference room door opened, and a man entered.
He was in his late thirties, wearing a neat gray suit. His hair was combed back tidily, and his calm eyes behind his glasses left an impression.
Even in his Korean introduction, there was a slight English accent.
“I’m David Jo from Pacific Grain Lines’ Korean branch. You’re Kim Hyun-woo, correct?”
“Yes, I’m Kim Hyun-woo.”
We shook hands and sat down. David Jo took a bundle of documents from his bag.
They included an arrival schedule, a provisioning list, and payment forms.
“Let’s confirm the arrival schedule first. The MV Adelaide Star will berth at Pier 7 in Busan Port at 4:00 a.m. on Tuesday, January 19. That won’t change. Provisioning will begin within six hours of arrival and be completed within fourteen hours. Headquarters’ standard is for departure eighteen hours after arrival.”
Everything up to that point was exactly what Mr. Park had told me in advance.
I listened quietly and nodded, and then he asked, “How have you planned the provisioning route? Young-tae Shipping will handle it alone, correct?”
“Yes. I have five Young-tae Shipping trucks and twelve loading workers arranged. Jagalchi supplies will begin leaving at 3:00 a.m. on the day of arrival and reach the pier at 5:00. The meat will leave at 4:00 and arrive at 6:00. Fresh water and lubricant will arrive at 7:00 according to the existing supplier schedule. Provisioning will begin at 4:30, and loading onto the ship can be completed within six hours.”
David Jo made a check mark on the arrival schedule with his pen.
“Good. Now, regarding payment. We’re proceeding with a USD letter of credit through Korea Exchange Bank, correct?”
“Yes. That’s how we’ll proceed.”
“Which side will bear the foreign-exchange loss?”
“I will.”
David Jo paused briefly. His pen stopped once, then began moving again.
“...It’s unusual for the supplier to bear foreign-exchange losses. Normally, the Australian shipping company bears them.”
“I know. But since this is our first transaction, I thought it would look cleaner to Australian headquarters if my side bore it. From the second transaction onward, we can follow the standard terms.”
He stopped his pen again, adjusted his glasses slightly, and looked at me.
“...Mr. Kim, did you know that the supplier bearing foreign-exchange losses is not Australian headquarters’ standard policy?”
“Yes. But as a new entrant, I need time to build trust with headquarters. The foreign-exchange loss on the first transaction won’t be a large amount anyway. Since payment is in USD, the difference between the exchange rate at the end of December and in mid-January should be within 0.3 percent. For provisions for twenty-eight people over twenty-five days, that’s manageable.”
At that point, he slowly set his pen down, clearly surprised.
Then he studied me closely.
“...You even considered the range of exchange-rate fluctuations.”
His tone was neither amused nor astonished, but his eyes had changed.
His next question strayed slightly from the arrival schedule.
“Then how will you handle a missing delivery during provisioning? For example, if a Jagalchi wholesale delivery arrives an hour late at dawn.”
This was not an Australian headquarters inspection item. It was something David Jo himself wanted to know as a working professional.
“I have two backups arranged. First, I can purchase directly at Jagalchi Market’s dawn auction. If the wholesale delivery is delayed, President Park Jong-ho has agreed to secure me auction priority, so I can go to the auction house at 4:00 a.m. and buy it directly. Second, besides the butcher in Busanjin District, I’ve found a backup wholesaler in Masan, about an hour away. They have some Australian beef in stock.”
“...As far as Masan?”
“Yes. It’s for emergencies on the day of arrival.”
He worked his lips for a moment, then glanced at Mr. Park.
“Mr. Park Man-ho, is this person really bidding for the first time?”
Mr. Park was just as surprised.
“Look at his face. He’s still a kid. When would he have had time to gain that kind of experience?”
“...Hmm.”
David Jo looked back at me, then pushed the headquarters inspection forms aside.
He took a memo pad from inside his jacket.
“Mr. Kim Hyun-woo, let me ask one more thing. Did you happen to know that Australian headquarters has questioned Busan Port prices for five years?”
“I had guessed.”
“...How?”
“Provisioning prices at Busan Port are nearly twice the average prices at Sydney Port. That gap is too large to explain through the special characteristics of the Korean market. It’s natural for Australian headquarters to question Korean operation prices. What would be stranger is if that question had remained unanswered for five years.”
He laughed in disbelief.
“You’re young, but you have insight. Are you from Pusan National University?”
“Yes.”
“Not Seoul National University... Maybe you just have good instincts? Well, fine. To be honest, headquarters sends the same question every year, and we keep replying that this is how the Korean market is structured. Your quote is the first answer to that question. That’s why headquarters accepted it immediately.”
“It’s a good result for me.”
“If the next transaction is like this too, the Korean operation may finally be put in order. Not just Pacific Grain Lines, but the other Australian shipping lines as well. Five major Australian grain companies make regular calls at Busan Port, and all five probably have similar doubts.”
Five companies.
A sharp thrill ran up my spine.
“Please keep in touch often.”
Finally, David Jo handed me a business card.
David Jo, Korea Branch Manager, Pacific Grain Lines.
I tucked it carefully into my inner pocket as soon as I received it.
“Of course. I’ll be in touch.”
“I’ll see you at Busan Port before dawn on the day of arrival. I’ll attend personally as the Australian shipping company’s representative. I’ll also take some photos for the headquarters report.”
“Understood.”
After he left, Mr. Park leaned back slowly in his chair and spoke as though overwhelmed.
“Wow. This kid’s a monster. A real monster.”
“Haha. Luckily, what I learned in school came in useful. I got lucky.”
“They teach that kind of thing in school these days?”
“Of course.”
“Really? The sons I know are all empty-headed.”
“People who study hard are different.”
“Well, people like that probably wouldn’t come down to the port anyway. In any case, good work. Go get some proper rest.”
“Yes. You should rest too.”
After leaving the office, I visited President Park Jong-ho’s Jagalchi shop once more to give the price list a final check and coordinate the predawn delivery time one last time.
Only after stopping by Dong-gwang Meat in Bujeon-dong and Young-tae Shipping in Dongsam-dong did I head back to the shop.
“How’d it go?”
My father had barely shown any interest in me before, but the moment I entered, he folded his newspaper and asked.
Daeseong Fisheries & Produce coming to look for me must have piqued his curiosity that much.
“The ship arrives at 4:00 tomorrow morning.”
“Good. Well done.”
My father nodded and smiled faintly.
In truth, it was a significant accomplishment.
My bid price was 32 million won. Of that, costs came to 24.6 million won, and 30 percent of the remaining profit was paid to Young-tae Shipping as a risk premium, leaving me with a total share of 5.2 million won.
Considering that a new university graduate earned less than 400,000 won a month, I had earned a new graduate’s annual salary in a single transaction.
A detached house in Yeongdo District, Busan, cost around 15 million won. From a one-month transaction, I had made a third of a house’s value.
But what if that grew to five companies?
A smile naturally came to my face.
Foreign-vessel provisioning, also known as the ship supply or ship chandling business, used deferred payment as the standard structure. The same was true in Busan, where wholesalers generally released goods on credit based on the ship supplier’s credit.
That was why this business was possible even with zero capital.
It was the kind of business anyone could do with just a little knowledge.
I placed David Jo’s business card beside the card Deputy General Manager Kim had left at the coffeehouse yesterday.
David Jo seemed likely to offer productive help, but what about Deputy General Manager Kim?
My heart pounded.
Not only the promising future ahead, but even the obstacles that would stand in my way filled me with anticipation.
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