Chapter 130: Moscow Meeting

I met with Berezovsky, Yeltsin’s daughter, and the head of the Kremlin Palace’s administration.

Yeltsin’s daughter was Tatyana Dyachenko.

The head of administration was Valentiy Yumashev.

These two were the power brokers behind the scenes in Russia.

If Putin was the future power, these people were the current power.

Even though their power wouldn’t last much longer, they were still the ones moving Russia.

“Hello. I am Kim Mu-hyeok.”

“Nice to meet you. I’m Dyachenko.”

The atmosphere was quite amicable.

But knowing their ugly desires, I didn’t enjoy this meeting very much.

Hiding my true feelings, I exchanged greetings and sat down.

Yumashev, the head of the administration, was the first to speak.

“You want to invest in Russia?”

“Yes.”

“You’re different from other investors. Everyone else is pulling out of Russia, but you’re investing? Interesting.”

I could sense desire in Yumashev’s eyes.

“Isn’t there opportunity at the end of every crisis? The great empire that is Russia isn’t going anywhere. It’s just a temporary liquidity crisis. I believe in Russia’s future.”

“Hahaha. You say such pleasant things.”

It was a conversation without substance.

I didn’t have any intention of making a big investment in Russia right now.

I simply came to create a connection with Putin, but I couldn’t just leave without doing anything.

I had to put on a show for Berezovsky’s sake.

“First, issue some bonds.”

“Bonds, you say?”

In the current bond market, Russian bonds were no different from scraps of paper that no one wanted to buy.

Dream High Investment and some other forces were competing, but even now, they were trading around 20% of their face value.

So it was natural for Yumashev to be surprised when I asked him to issue bonds.

“Wasn’t the last successful bond sale for around 1.2 billion dollars? I think that was about it.”

Two months before Russia declared a moratorium.

A grand party was held at the Moscow Federation Hall under the auspices of Goldman Sachs. Many former and current high-ranking officials, including the former U.S. President and the Russian Prime Minister, attended the party.

At that party, the last Russian bond issuance was successfully completed.

Goldman Sachs had expected 1 billion dollars, but the bonds sold exceeded expectations, reaching about 1.25 billion dollars.

But two months later, when Russia declared a moratorium, those bonds became worthless scraps of paper.

And now, I was bringing up the story of bond issuance again.

“Yes, but…”

Yumashev trailed off.

Did he think issuing bonds wouldn’t be profitable?

It seemed they were thinking more about their own profits than Russia’s economy.

Then, Dyachenko, who had been talking to Berezovsky, opened her mouth.

“Bond issuance, huh. How much are you thinking? We are very pressed for time.”

“These are bonds that no one will buy. I have to absorb them all myself, so let’s do just 200 million dollars.”

Dyachenko’s eyes widened.

“You’ll absorb 200 million dollars all by yourself?”

“Yes, I can absorb that much on my own.”

Surprise began to spread across the faces of everyone, including Dyachenko.

Berezovsky joined the conversation.

“Are you sure you’re not lying?”

“Surely I wouldn’t make empty promises when those here are who they are.”

“Haha, I must have underestimated you. A man who can bet 200 million dollars.”

Berezovsky’s words and eyes had a look of having caught a sucker.

Pretending not to notice, I smiled and spoke to Dyachenko again.

“Since we don’t need an underwriter like an American investment bank like before, there won’t be any commission fees. Let’s set the interest rate at 50% for 5 years.”

“50%?”

“Yes, it shouldn’t be an unreasonable request.”

It was an investment to save face, but I had no intention of taking a loss.

The higher the bond interest rate, the lower the bond value in the market.

Russia had made the extreme choice of raising short-term interest rates to 150%, but it couldn’t reverse the investment sentiment in the international market.

Considering that the 5-year Korean treasury bond interest rate in Korea, which doesn’t even have as abundant mineral resources as Russia, was 15%, it was an absurd interest rate.

It was also proof that the financial market didn’t trust Russia that much.

“We don’t get any benefit from that…”

Dyachenko was blatant.

“I said there are no bond issuance fees. I heard that the fees that went to Goldman Sachs were 50 million dollars.”

At those words, Dyachenko seemed to realize the hidden meaning.

“You’re someone who understands. I’ll contact you soon. It was a good time.”

Dyachenko and Yumashev stood up as if they had said everything they needed to say.

“I’ll wait for good news.”

I stood up, saw Dyachenko and Yumashev off, and talked to Berezovsky again.

I laughed inwardly as I saw Berezovsky, whose attitude was completely different from the lukewarm attitude he had when we first met.

“Are you not interested in Russian companies?”

Was he thinking of foisting the companies he owned onto me?

“Not yet. I don’t really know anything about Russia. It’s hard to invest recklessly. I decided to invest because it’s a bond guaranteed by the Russian government. Even if they declare default, they can’t choose to be permanently isolated from the international community, right? Unless they plan to go back to being like the Soviet Union.”

Who does this guy think he’s fooling?

Anyway, I could just acquire the companies after Putin came to power and cleared out the oligarchs. There was no need to acquire them now.

“Hmm…”

Perhaps because of my firm tone, Berezovsky stroked his chin and trailed off.

“Are you in a hurry? As you get to know Russia, you might find a company you like. And I might become closer with Chairman Berezovsky.”

“That’s too bad. There are many good companies, you know.”

I could see disappointment in his expression as he licked his lips.

“Russia has enough growth potential.”

Russia was a country that could not be ignored, with its abundant mineral resources alone.

Russia’s problems were political turmoil, serious collusion between politics and business centered on the oligarchs, and corruption among government officials.

“I can’t help it.”

“Please introduce me to a nice residence. I think I’ll be coming to Russia often, and I can’t stay in a hotel forever.”

“That’s true. I’ll look for a good residence for you.”

“Thank you.”

I parted ways with Berezovsky after talking uselessly.

The car carrying Berezovsky disappeared from view. I went up to my hotel room.

“Hah… such greedy people.”

Sitting on the sofa, I loosened the tie around my neck.

Manager Ma, who took the tie, replied.

“The country is in this state because people with power are like that.”

“Isn’t it the same in our country, with those in power being corrupt? Well, thanks to that, it’s good for doing business.”

The more corrupt the person with power, the easier it is for me to maneuver.

How wonderful would the world be if everything was done within the bounds of legality?

There was no such world anywhere.

“Contact Korea. Find out what happened to Jungwoo Motors.”

“Yes, Boss.”

I was tired, but I had to do what I had to do.

“Boss. Chairman Han is on the line.”

I took the phone and put it to my ear.

“Hyung.”

— Mu-hyeok? How’s Russia?

“I didn’t come here for sightseeing. It’s the same as always.”

— How are the Russian women?

“I don’t even have time to meet them. Stop talking nonsense. What happened to Jungwoo Motors?”

— Well, I closed the workplace as you said. We need to start negotiations with Ilseong Motors after the massive layoffs.

“Is Ilseong still talking nonsense?”

— Yeah, they must have gotten our financial statements from somewhere. They’re saying they should be the ones getting paid.

“Crazy bastards, they still haven’t come to their senses.”

Currently, big deals were being made under the leadership of Kim Hak-gwon’s government.

It was an IMF system where even Ilseong would have a hard time surviving if they were on the government’s bad side.

If they decided to cut off the funding, it would be over.

“Tell them to stop talking nonsense. Or hand over the negotiation rights to the government. Tell them to do whatever they want. If they keep doing this, tell Hyung that I’ll think differently.”

— Okay. I’ll try to negotiate a little more first.

“Handle all the affiliates that need to be sold off in the same way as Jungwoo Motors. Don’t show any mercy. People will think that kindness is a right if you keep being nice.”

— Okay.

“Anything else?”

— No. Oh, the Conservative Party contacted me. They want to meet. What should I do?

“The Conservative Party? Why?”

— I don’t know. I think I’ll have to meet them to find out?

The Conservative Party suffered irreparable damage in the Cheongpung Group liquidation process last time.

Even as they were being purged one after another, no one could come forward because of the clear evidence and harsh public opinion.

Choi Chang-geun, who stepped down from the presidential candidate due to the Cheongpung Group’s involvement in last year’s presidential election, even rose to become the president of the Conservative Party, but he too could not be safe from the Cheongpung Group liquidation process.

In the brutal atmosphere where even the president of a political party was being arrested, both the Conservative Party and even the Progressive Party must have felt like they were walking on thin ice.

“Meet them once. There’s nothing to lose.”

— Okay. I’ll go and listen to what they have to say. When are you thinking of coming back to Korea?

“Next week? It might take a little longer if it’s late.”

— Don’t just work, play with the Russian women. Or you’ll die early?

I chuckled and shook my head.

“I’m hanging up.”

I handed the phone to Manager Ma, stretched, and got up from my seat.

“I’m going to wash up and get some sleep, so if there are any calls, connect me.”

“Yes, I understand.”

“Manager, take a break and have a meal with Igor or something.”

After sending even Manager Ma out, I was left alone in the hotel room. After washing up, I lay down on the bed.

I didn’t want to work myself to death like Han Gyeong-yeong said.

* * *

After meeting with Kim Mu-hyeok, Dyachenko and Yumashev returned to the Kremlin Palace and immediately ordered Putin, the director of the FSB, to come to the Kremlin Palace.

“Did you call for me?”

“Putin, welcome.”

Putin entered the administrative director’s office, greeted by Yumashev’s warm welcome.

Dyachenko only nodded at Putin, sitting with her legs crossed.

“It’s been a while, Ms. Dyachenko.”

Putin greeted Dyachenko and sat down.

“Do you know a businessman named Kim Mu-hyeok who came to Moscow this time?”

He was a little startled, but Putin asked back with a blank expression.

“Kim Mu-hyeok, did you say?”

“Yes.”

“I briefly met him a few days ago through an introduction from Chairman Berezovsky.”

Yumashev nodded as if he liked Putin’s honest answer.

“What did he say?”

“He said that he is a businessman, but he doesn’t only do legal things, so it seems like he will need the FSB’s help in many ways.”

Putin did not say that Kim Mu-hyeok said he wanted to be friends.

“What did the FSB find out about him?”

“His nationality is Korean. He is the owner of Dream High Investment in the U.S. And he is the owner of the mercenary company Black Bear in the U.S.”

“Dream High Investment?”

“It is a famous investment firm on Wall Street. It made astronomical amounts of money during this Asian economic crisis. The Security Bureau’s opinion is that it maintains a friendly relationship with the U.S. government.”

Former Administrative Director Chubais, the deputy prime minister, had negotiated with the U.S., so Yumashev didn’t know much about Wall Street in the U.S.

“He must have a lot of money.”

“He probably does. What’s going on? Should I investigate in detail?”

Yumashev sent a look to Dyachenko, and she shook her head.

Yumashev shrugged and spoke to Putin again.

“That’s fine. As long as he has enough resources to invest in Russia. What does it matter?”

“I understand.”

“Investigate who Kim Mu-hyeok meets in Russia and report it every day. You can go now.”

Putin bowed and left the administrative director’s office.

Putin’s face was stiff as he came out.

Only after arriving at his office in the Security Bureau did he call Kim Mu-hyeok.

After a few rings, the phone connected.

“This is Putin. I have something to tell you.”

— Ah, Director Putin.

Kim Mu-hyeok’s voice was hoarse as if he had been sleeping, but that wasn’t the important thing.

“The administrative director has ordered me to monitor and report on your activities in Russia.”

— Is that so? Hahaha.

Laughter came from beyond the phone.

Putin’s brow furrowed naturally.