Chapter 118

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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They were checking Levant, who was trying to expand power using Beirut as a base.

“About 30 billion dollars. That’s the amount they bid.”

“Are they crazy? Even if that place becomes a major base, they’re burning 30 billion dollars?”

Actually, a company called Levant wasn’t originally in the establishment plans.

But hadn’t the Middle Eastern countries seen directly?

How a single shipping company born in that small country called Korea seized the sea and manipulated the world.

That’s where they got inspiration.

For the Middle East to become the core of the world, they shouldn’t just wield oil, but must control the sea routes.

That’s how a company called Levant was born through oil money.

To control both oil and the sea simultaneously.

But had Gwangwoon caught on to that?

Levant’s CEO, Khalid al-Hassan, established this company with funds secured through sovereign wealth funds. And as originally planned, he steadily absorbed surrounding shipping companies and reached the stage of acquiring Beirut port business rights.

If they can control Beirut, they can sequentially take control of not just the Middle East but other continents too.

But Gwangwoon was putting up a proper obstacle.

A whopping 30 billion dollars!

“Anyone can see this is throwing a tantrum.”

Lebanon must be wondering what windfall this was.

Those guys also intended to make Levant and Gwangwoon compete to raise the price.

So they were competing somehow and were going to settle around 10 billion dollars, but Gwangwoon just threw 30 billion dollars.

“They’re not really trying to take the business rights with 30 billion dollars—they’re trying to hurt us, right?”

“Right. Would those guys be crazy enough to pour 30 billion dollars into a port business right?”

Anyone could see this had clear intent.

“But we need to also consider the opposite situation. What if they’re bidding 30 billion dollars to definitely take the port business right? For Levant to grow globally, Beirut port business rights are essential. Gwangwoon must definitely know that too.”

“So they’re trying to suppress us before we can even stretch?”

“Yes. The opponent is Gwangwoon, who has already dominated the sea once. They know exactly which are the key bases and how much power can be expanded using them.”

In other words, the intent was to block them from even approaching shipping competition by bidding big from the start.

“If we try to accept this, the people above will say we’re crazy, right?”

“But won’t the people above eventually tell us to accept too?”

The great investors would be shocked at first, but they’d eventually realize they have no choice but to accept.

“Sigh. They’re really vicious bastards. Trying to squeeze us this way.”

“Gwangwoon is famous, isn’t it? There are lots of conspiracy theories too. There’s talk this corona was definitely not a coincidence. Because Gwangwoon bought up vaccine companies en masse before corona hit and is now the #1 vaccine supplier.”

There are really many conspiracy theories about Gwangwoon.

One of them is the coronavirus itself.

Before this pandemic occurred, they very suspiciously bought up vaccine companies, and through research on that, they’ve become a company all nations are desperate for now.

Khalid fell into thought.

Is this really a bluff, or are they really planning to take it for 30 billion dollars?

“Why the hell do they just leave those guys alone? Shouldn’t they investigate and shake them out—what if they actually spread corona to do vaccine business?”

“Even if that’s true, there’s no way to do anything right now. Gwangwoon holds the vaccines. Moreover, even after everyone gets vaccinated, variant viruses will definitely emerge, so considering booster shots, we shouldn’t touch Gwangwoon for several years.”

Really remarkable people.

Then again, didn’t they start from that small country and rise to a position shaking the entire world economy?

“What should we do? If we don’t present a higher bid today, the business rights go to them.”

If the opponent is bluffing, they won’t pay 30 billion dollars and will give up the bid.

But if it’s not a bluff and it’s real?

Then the business rights go to Gwangwoon and Levant loses an important base. And it’ll be Gwangwoon that dominates the sea.

In effect, Gwangwoon had given Levant an either-or choice.

“Tsk. These nasty bastards.”

There was only one choice Khalid could make.

————————————————————————————————————————

“So, what happened?”

“Yes. Levant…”

The employee reporting paused briefly before continuing.

“They accepted. They bid a bit higher than the 30 billion dollars we initially offered.”

Kim Du-young slapped the table!

“That’s right.”

“Phew.”

The executives also breathed sighs of relief.

They bid 30 billion dollars, but this wasn’t really to buy the business rights.

It was a kind of bluff, and Levant fell for it.

“But… is this something to be happy about?”

“Right. As a result, the opponent took a really important base, didn’t they?”

But losing Beirut port was painful.

From now on, using that as a starting point, Levant will achieve explosive growth.

“Our goal was only one thing anyway. Not to get the port business rights, but to lure Levant into spending as much money as possible.”

“Yes. Looking into it, it seems if we had bid 30 billion dollars or more, they were planning to give up. The funds supporting that company also seem to have agonized before paying 30 billion dollars.”

“Really? I haven’t seen those people’s faces, but they must be grinding their teeth at us.”

“Yes. They spent 30 billion dollars on port business rights that with good negotiation wouldn’t have even cost 10 billion, so they must want to chew us up.”

It was satisfying to have properly gotten one over on them, but also worrying.

How much Levant would grow from this starting point.

Honestly, he was a little scared.

In other words, they’re absolutely not a place lacking funds.

If they wanted Beirut port, they would have pulled all their funds from other places.

Not doing so also meant Beirut port didn’t have that much value to them.

“Whatever happens. Until President Jeong gives us instructions, we need to lead this company well. So those Middle Eastern guys can’t even dare to chase our tail. President Jeong didn’t kick us out all this time and let us stay at the company to the end. Shouldn’t we repay that kindness?”

At those words, the executives nodded with determined faces.

“Now, then go back to work. Keep close watch on Levant’s activities.”

“Yes!”

“But seeing that President Jeong just sabotaged and gave up Beirut, maybe he has other plans?”

“Well, who can possibly know what President Jeong is thinking? But he definitely seems to have other plans.”

After sending the executives off, Kim Du-young let out a short breath.

Beirut… it’s really a regrettable base.

But seeing Jeong Jin-ho sabotage and not take it, he definitely has other plans—

What could that be?

Gwangwoon had started supplying vaccines worldwide, and from KW Exchange to other subsidiaries, not a single place was losing money.

————————————————————————————————————————

“President, this is really…”

The employees couldn’t finish their words looking at the wildly fluctuating chart.

Soon Manager Seo jumped up and shouted.

Traders doing futures would be having a hard time.

Since no one was buying oil until futures expiration, they had to handle it themselves.

“N-negative 10 dollars broken!!”

But how could traders living in ordinary homes receive and store that much crude oil?

“Ah, s-sorry. I couldn’t help it.”

“No. It’s okay. It’s certainly something to be surprised about.”

Oil prices had hit bottom before, but had never recorded negative in history.

But today WTI hit negative 10 dollars. An unprecedented, extremely shocking panic.

“Who knew Saudi Arabia and Russia would have such a pride fight?”

Probably both Saudi Arabia and Russia expected oil prices would drop to some degree after the production cut agreement fell through. But they never imagined it would hit negative 10 dollars.

It wasn’t just traders. Even ordinary people were panicking.

These days there were companies that take a fee to handle that crude oil, but right now all those companies had also closed their doors.

Because crude oil consumption had dropped to historic lows due to coronavirus, they also had nowhere to store all that oil. Even if they did, the rental was much more expensive.

“Shipping is inquiring whether they should receive this now—what should we do?”

Not receiving oil for free.

Rather, receiving money on top of that oil.

10 dollars per barrel at that!

“What does everyone think?”

“With this much shock, won’t Saudi Arabia and Russia be startled into making the production cut agreement again?”

“I think so too. I’ve already heard rumors that both countries are trying to push negotiations again.”

“So negative 10 dollars is the bottom?”

“I think so.”

“Me too. It’ll probably drop a bit more from here, but it’ll stay around 10 dollars and bounce back up. No country will just sit and watch negative oil prices.”

I didn’t think it would drop much further than this either.

But that was just my thought.

I quietly brought my hand to the chart.

“For now, tell them not to buy and wait longer.”

“Oh. President, you think it’ll drop further from here?”

“Yes. Both Saudi Arabia and Russia are proud places. Neither will bend easily. They’re people for whom pride is more important than money.”

But if it really hits rock bottom as my intuition showed, then they’ll throw away pride and everything and make the production cut agreement. And we’ll pick up oil at the lowest point before that.

“Ah. And they said Levant acquired the Beirut port business rights. By raising just a little more than the amount we initially offered.”

“Really?”

“Yes. So Gwangwoon Shipping is preparing for future situations. Levant spent 30 billion dollars this time so the losses are big, but they have oil money, and they can gradually expand business over time.”

“…!”

Then the previously normal chart suddenly started moving on its own, drilling through underground and reaching down below.

What does this mean?

Both Saudi Arabia and Russia would keep postponing the production cut agreement because of their immediate pride, and oil prices would crash further from here.

Gwangwoon Shipping seemed to be trying to speed up the ongoing shipping company acquisition negotiations to check that.

“They’re buying a bit more expensively than originally set prices. If negotiations drag on here, Levant might snatch them. Actually, several shipping companies are currently weighing Gwangwoon and Levant, seeing which to sell to.”

Originally, Gwangwoon Shipping’s plan was to slowly starve the shipping companies in crisis and sweep them up at the lowest prices.

But with Levant’s emergence changing shipping’s landscape, we couldn’t afford to be leisurely anymore.

“It’s okay. And for now, tell them not to overdo the acquisitions and maintain the current pace.”

“Ah… Yes. You’re really okay?”

“Yes. I’m really okay, so don’t worry.”

Cold sweat was streaming down, and the employees also jumped up in surprise.

“P-President, are you okay!?”

“…Ah.”

I exhaled with trembling breath and fortunately regained stability.

But it still seemed like that terrifying sensation remained in every corner of my body.

Beirut.

Did I hand it over for nothing?

Just in case, I opened the report on Beirut port again.

But the moment I opened that first page, that sensation from then revived.

What on earth is happening there that’s causing this?

“!?”

A loud roar swirled in my ears and my body was overwhelmed by something massive, becoming paralyzed.

————————————————————————————————————————

“Congratulations, CEO.”

“Congratulations, you say—we just threw 30 billion dollars.”

“But with this, our Levant will dominate all seas of the world including the Middle East from now on.”

It was a bit upsetting inside.

It was definitely a necessary base for Levant’s ambition, but still, 30 billion dollars was spending beyond expectations.

“We just did Lebanon a favor.”

“What can we do? Gwangwoon won’t let us off easy.”

“So those guys were bluffing after all?”

“Yes. They properly sabotaged us and left. But we can pay this back later. Wouldn’t it work if our Levant grows and tramples Gwangwoon Shipping?”

Right. That should work.

Though they took a 30 billion dollar loss now, in the future this place will bring in 300 billion dollars.

Isn’t it written in the Quran too?

Punish as much as you were wronged.

Of course, there’s a teaching that forgiveness is superior to revenge.

But Allah will understand revenge toward Gwangwoon.

“So, how’s the port situation?”

“With just a few repairs, it shouldn’t be bad. But there’s one thing that’s troublesome to deal with.”

“What is it?”

“Currently, the Beirut warehouse has a whopping 2,800 tons of ammonium nitrate.”

“Ammonium nitrate?”

“Yes. It’s a chemical substance used in fertilizer and explosive manufacturing, and it’s currently tied up in large quantities in Beirut.”

Khalid narrowed his brow.

“Why the hell is that tied up there?”

“A ship that was heading to Mozambique was forcibly seized by the Lebanese court, and all the ammonium nitrate on it was stored at Beirut port. That was already 6 years ago.”

“So for 6 years the Lebanese government took no action?”

“Yes. The company went bankrupt and disappeared, and the Lebanese government just left it there. Maybe they couldn’t figure out how to deal with it and just left it.”

Even so, keeping that dangerous thing stored in a warehouse for 6 years. Such irresponsible bastards.

“But seeing how not even a small accident happened in 6 years, isn’t it probably okay? The warehouse is in a distant location too.”

“Well… that’s true too. But we can’t keep leaving it there. We’ll need to use the warehouse a lot going forward, so find out how we can quickly clear it out.”

“Yes. I’ll discuss with the Lebanese government.”

They made a big 30 billion dollar expenditure, but ultimately secured Beirut port.

The real beginning starts now.

The 2,800 tons of ammonium nitrate was slightly concerning, but it’s a place that was fine for a full 6 years.

Would such a place suddenly cause problems?