WeTried Translations

Translator/Editor: LilGuyBlastoise

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◈ Second Life of the Trade King ◈

Chapter 9: Come into One’s Own (3)

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“Is that really possible?”

I began to explain calmly.

“It will take some time to get direct certification from the Australian head office. They wouldn’t formally certify a Korean wholesaler after just one deal. But a preferred-supplier agreement is possible. Pacific Grain Lines could designate your Hae-seong Fisheries as its preferred supplier whenever it enters Busan Port. If David Jo helps us open the door at head office, I think it can happen.”

President Park frowned slightly and took another sip of tea.

“A preferred-supplier agreement? Not head office certification?”

“Yes. But if the preferred-supplier arrangement runs smoothly for at least a year, there’s a good chance head office will upgrade it to official certification. During that year, your record of reliably supplying food provisions to Australian shipping companies will be reported to head office every month. If those reports keep showing that the Busan Port pricing problem that has frustrated head office for five years is being resolved through Hae-seong Fisheries, there’ll be no reason for them not to certify you.”

“Heh heh...”

Surprised, he sighed and slowly began tapping the desk with his fingers.

“Then that first year will really be the test.”

“Yes. But during that year, you’d receive all the revenue from Pacific Grain Lines’ regular calls. With two or three ships a month, it’ll be far greater than the two clients putting 50 million won in monthly sales at risk.”

After a moment of silence, his fingers stopped tapping. He threw out a question.

“...Hyun-woo, let me confirm one thing. Does David Jo really intend to help us reach head office? Or are you drawing this whole picture by yourself?”

“Think about it. It’s not only good for us. For five years, the Korean branch has been asked the same question by Australian head office. Why are Busan Port prices so high? David Jo hasn’t been able to answer. From head office’s perspective, that makes David Jo look like someone who can’t do his job.”

“Ah, I suppose so.”

“If David Jo recommends a preferred-supplier agreement to head office and formally straightens out the Korean supply line, David Jo will become the person who solved a problem that’s been sitting there for five years. His standing at head office will rise too. So we’re not the only ones asking for something. David Jo has a real reason to act.”

That seemed to be the decisive blow. His eyes lit up.

“...Let’s do it. Set up a meeting with David Jo. I’ll speak to him myself.”

“Yes, Boss.”

As he rose from his seat, he added one more thing.

“And, Hyun-woo, I heard Deputy General Manager Kim visited Lee Jeong-hwan at Dong-gwang Meat before coming to our shop. They say about thirty percent of their sales are at risk too. I’ll go speak with him myself. It’d be better if you came with me.”

“Thank you, Boss.”

“Forget it. Aren’t we in this together?”

The expression President Park had worn when he froze before Deputy General Manager Kim only minutes ago was gone. In its place was a look of firm resolve.

Early the next morning, I headed to Mr. Park’s office at the Dong-yang Shipping Agency in Yeongju-dong.

When Mr. Park called for Miss Kim to bring coffee as usual, I accepted it instead of refusing.

“Mr. Park, please arrange a meeting with David Jo. I want to meet with President Park Jong-ho of Hae-seong Fisheries.”

“Park Jong-ho? That fellow from Jagalchi Market?”

“Yes. I want to discuss a preferred-supplier agreement.”

“What are you talking about? A preferred-supplier agreement?”

I explained the conversation I’d had with President Park the previous day.

Mr. Park’s expression gradually hardened. By the end, he gave a hollow laugh and leaned back in his chair.

“Hey, Hyun-woo, you’re really making a big move.”

“Do you think it has a chance?”

“Whether it has a chance depends on David, doesn’t it? If head office has been frustrated for five years, then this is a card worth playing. All right. I’ll set something up today.”

Right there, Mr. Park picked up the corded telephone with its twisted wire.

After a brief call with David Jo, he hung up and told me the meeting would be at two the following afternoon.

The next afternoon, I waited in the Dong-yang Shipping Agency conference room when President Park Jong-ho arrived wearing a suit instead of his usual work clothes.

As he sat down, his hand adjusted his lapel once, a little stiffer than usual.

It seemed that even for him, a formal negotiation with someone from a foreign-affiliated company like David Jo was a first.

David Jo entered the conference room in a gray suit and held out a hand to President Park.

“I’m David Jo from the Pacific Grain Lines Korea branch. It’s a pleasure to meet you, President Park Jong-ho.”

“I’m Park Jong-ho of Hae-seong Fisheries. You received our food supplies during the first deal, correct?”

“Yes. I saw how the first transaction went. It was very impressive.”

As soon as we sat down, David Jo got to the point.

“President Kim Hyun-woo said he wanted to arrange a meeting with President Park Jong-ho, so I came. Please tell me what you have in mind.”

I slowly laid out what I had prepared.

“I wanted to discuss the possibility of an agreement designating President Park Jong-ho’s Hae-seong Fisheries as Pacific Grain Lines’ preferred supplier for ship provisioning in Korea.”

David Jo’s eyes narrowed slightly.

He looked interested.

“A preferred-supplier designation? Not merely a food supplier under a ship supplier?”

“Yes. Pacific Grain Lines would officially designate President Park’s Hae-seong Fisheries as its preferred supplier. Yeongdo Trading would be the ship supplier, and President Park would be registered with Australian head office as Yeongdo Trading’s official food supplier.”

He tilted his head.

“President Kim Hyun-woo, to be honest, this sort of arrangement is unusual. Australian head office has never directly established a supply line with a Korean wholesaler before. Still, let me ask one thing. What is President Park Jong-ho’s real reason for wanting this agreement?”

He turned his gaze directly to President Park.

“I’ll be frank. For five years, our shop has supplied food provisions to Australian shipping companies through Daeseong Fisheries & Produce, but we hardly made anything. This time, through President Kim Hyun-woo, we entered at direct-trade prices, and our margins finally returned to normal. But that seems to have made Daeseong Fisheries & Produce jealous, so they’re pressuring us by shaking up our other clients. We have to survive, so we can’t help but be affected. But if Pacific Grain Lines guarantees us a preferred-supplier agreement, I think we can endure that pressure. Frankly, it also solves the pricing problem for Australian head office, so it benefits both sides, doesn’t it?”

It was a fair point. David Jo’s gaze deepened.

He was considering how to handle this.

“You’re very frank. Good. I think I can convey your intentions to head office, but let me point out one thing. The agreement itself won’t take effect immediately. Head office may conduct an on-site inspection of President Park’s shop, and they’ll need to verify the stability of the provisioning line once more. It may also take about a month for head office to make a decision.”

“Then there’ll be no decision before next month’s call?”

“Yes. For next month’s arrival, you’ll continue with the existing method. Then, starting the following month, we can look at applying the preferred-supplier agreement. And... there’s one more thing I’d like to mention. If a Pacific Grain Lines preferred-supplier agreement is established, the other companies among the five Australian grain majors may be able to build similar arrangements.”

The news of such an unexpected windfall shook President Park’s expression.

“All five companies?”

“Yes. All five have been troubled by Korean supply-line prices. If Pacific Grain Lines becomes the first to establish a direct line with a Korean wholesaler, there’s a strong chance the others will follow. How to handle the Korean supply line has been an unresolved problem among the Australian grain majors. Once one company finds the answer, it’s only natural for the others to follow it.”

I added from beside him.

“Boss, if this really works, it won’t be 50 million won. It could be five or even seven times that. Seven or eight Australian grain ships enter Busan Port every month.”

Perhaps nervous, President Park took a sip of tea before asking David Jo directly.

“Mr. David Jo, do you truly intend to proceed with this agreement? Even if our shop undergoes inspection and verification by head office, isn’t it possible that they’ll decide to keep things as they are in the end?”

“President Park, what lottery ticket in this world offers a one hundred percent guarantee? But I can tell you one thing. I’ll recommend President Park Jong-ho’s Hae-seong Fisheries directly to head office as a preferred-supplier candidate. And head office has now seen the value of the normalized pricing Yeongdo Trading, under President Kim Hyun-woo, demonstrated in the first deal. If I report those two things together, head office will consider it seriously. If you ask me to guarantee the outcome too, aren’t you asking to sit still and make money?”

He was saying that he’d done enough, and the rest was President Park’s decision.

Naturally, Park Jong-ho, a fiery man from Busan, held out his hand.

“What the hell, fine. Let’s do it.”

As we wrapped up the meeting, President Park briefly left for the restroom, leaving David Jo and me alone in the conference room.

For some reason, I didn’t want to miss this opportunity.

“May I ask one more question?”

“Yes, please.”

“Pacific Grain Lines is one of the major Australian grain exporters, right? Cargo ships enter Busan Port on regular routes. Which Korean companies import that cargo?”

The hand David Jo had been using to set down his pen stopped cold.

“...You mean the import lines? About seventy percent of the grain Pacific Grain Lines exports to Korea goes to the Agricultural and Fishery Products Marketing Corporation. The remaining thirty percent goes through Saju Industries and Eunsang.”

“Is that remaining thirty-percent share stable every year?”

At my question, David Jo’s eyes narrowed, and a deeply interested look appeared on his face.

“Oh? President Kim Hyun-woo, are you looking into grain import lines too?”

It was 1988, the time when the feed grain market was beginning to explode in Korea.

The hog and poultry industries were growing by nearly twenty percent a year. As the Korean feed industry struggled to keep pace with demand, international grain negotiations would lead to the gradual liberalization of grain imports.

Then the Agricultural and Fishery Products Marketing Corporation’s existing monopoly supply line would break apart, clearly opening space for new importers.

Knowing of this opportunity and letting it pass would make me a fool.

“Yes. I intend to give it a try.”

“Ha ha, your ambition is no small thing.”

His eyes were filled with interest.

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