Chapter 469: A Variable in the Plan

Hu Jintao laughed heartily, clearly satisfied with himself.

He’s struggling just to hint that they want money.

He gestured toward his smirking lips with his wine glass.

“But just because there are sufficient funds, can we really recruit people within the military?”

No matter how much money the Shanghai faction had, Hu Jintao, the de facto leader, and his inner circle undoubtedly had their own wealth.

Yet, they were thoroughly pushed back by the Shanghai faction.

The next leader ended up being forced to choose Xi Jinping over the Shanghai faction.

This was a decision made by Hu Jintao, who absolutely refused to hand over power to the Shanghai faction.

As a result, a longstanding tradition in China was broken forever…

“Don’t worry. As long as we have enough funds, there isn’t anyone within the Party who can match the Communist Youth League in numbers.”

Isn’t he being a bit too overconfident?

I’ve never seen someone who was intoxicated and declaring victory bring about a good outcome.

“The Shanghai faction is definitely not an easy opponent. They are not just people who can be managed with a little money and manpower, are they?”

“I know better than Mr. Kim. Don’t underestimate them; just let me enjoy this moment right now.”

Hu Jintao raised his glass, smiling loosely. I couldn’t quite trust him.

Could this time Hu Jintao and the Communist Youth League become the dominant faction?

Still doubtful, I shook my head internally.

If we can’t rely solely on Hu Jintao’s strength, then I have to make it happen.

The drinking session continued with various conversations.

It was only at dawn that I finally parted ways with Hu Jintao.

“Ugh… This is exhausting.”

“I’ll take you directly to the hotel, Boss.”

Sharing a drink with someone I didn’t quite like wasn’t exactly an enjoyable experience.

As Manager Ma finished speaking, the car accelerated even more.

Watching the rapidly changing scenery, I closed my eyes.

When I opened them again, I found myself in bed.

Looks like Manager Ma carried me over. Guess I was thirsty from drinking and sleeping.

I gulped down water from the nightstand before getting up.

I walked to the window and pulled back the blackout curtains.

The sudden influx of bright sunlight made me squint. I closed my eyes for a moment to adjust.

When I opened them again, the bustling city of Beijing was visible below through the floor-to-ceiling glass.

Every time I came here, I was amazed at how much it had transformed day by day.

People looked like tiny ants, hurrying about like cogs in a machine.

I lifted my gaze to the sky.

A haze, either from exhaust or fine dust, clouded my view, making it hard to see clearly.

I spent a while observing the streets of Beijing, organizing my schedule and gathering my thoughts.

As I opened the door and stepped outside, I spotted Han Gyeong-yeong.

He was focused on something on his laptop, so engrossed that he didn’t even notice as I approached.

“Hyung.”

I stepped closer and tapped his shoulder to get his attention.

Han Gyeong-yeong jumped, finally stopping what he was doing to turn and look at me.

“Oh, you scared me! When did you get up? Have you ever woken up this late before?”

He exaggerated as he asked, a smile spreading across his face.

That was quite silly. I sat down beside him.

“I got in during the early hours. What are you working on?”

“Ah… The crude oil prices have been rising unexpectedly, so I was keeping an eye on that. OPEC was supposed to increase production, yet…”

“Really?”

“Looking at the situation, it’s hard to tell what good or bad news is in this market anymore.”

“Let’s see what’s going on.”

I gestured at him, and Han Gyeong-yeong turned his laptop around to show me.

I was already aware that crude oil prices were consistently rising.

However, the trend of the crude oil prices was completely different from my expectations.

Seeing the soaring figures, I spoke up.

“It seems the Yukos crisis in Russia is dragging on, amplifying the anxiety in the market.”

“It must be having some impact, but that can’t be the whole story. The U.S. is trying hard to control oil prices, and in contrast…”

Anxiety laced his voice. I smiled at Han Gyeong-yeong as I replied.

“In the end, whether it’s good news or bad news depends on how you choose to perceive it.”

In the commodity and stock markets, once an issue arises, it attracts all sorts of interpretations, and everyone reacts accordingly.

Humans are inherently easily swayed creatures. However, knowing the future, I was confident that I wouldn’t be swept away by such matters.

“Isn’t it all good for us?”

We had placed hefty bets with significant funds as oil prices were rising.

The higher the oil prices climbed, the greater our profits.

“More importantly, I think we should acquire Yukos.”

I shut my laptop and mentioned the acquisition proposal that the Kremlin had suggested to me.

Han Gyeong-yeong, who had been silent for a while, finally spoke up.

“That’s unexpected. I thought you would nationalize it.”

“It’s inevitable. If we were to nationalize recklessly, it would damage our image of advocating for a market economy.”

Moreover, given the painful experience from the Soviet era of nationalization, they’d want to avoid it at all costs.

To me, either way would yield profit, so I was willing to go ahead with the acquisition.

“We will initiate an asset evaluation process through a bank in Germany. Hyung, please head to Russia yourself to ensure the evaluation is done properly and that there’s no funny business.”

“I also need a break, you crazy workaholic. You never let up.”

Han Gyeong-yeong lamented loudly. I chuckled lightly and reassured him.

“Just wrap up this situation and then rest. Eva told me to take a break after wrapping up her work in Korea too. By the way, Hyung, how’s your love life these days?”

As I listened to his dating stories that I hadn’t heard in a while, Manager Ma walked in through the door.

“Are you awake, Boss? How would you like to have your meal?”

Has it really gotten so late? Lunch time had long since passed.

So that was why Han Gyeong-yeong said I woke up late.

“Hyung, have you eaten yet?”

“What time is it? Of course, I’ve already eaten.”

“Is that so? Then I’ll just have a light meal.”

I requested some simple bread and drinks from Manager Ma, then turned back to Han Gyeong-yeong.

“There’s still time regarding Yukos, so let’s set that aside. Have you read the investment plans for Baidu and Alibaba?”

“Of course. That’s why I’m in China. At minimum, I think we need to invest around fifty million dollars in Alibaba, and for Baidu, another twenty million to realize our intended business expansion. This is just the first phase, and there could be more needed later.”

There were solid reasons for investing aggressively in Baidu and Alibaba.

The two companies needed to respond to the local entries of Yahoo and eBay into China.

Nodding quietly, Han Gyeong-yeong continued.

“If we take funds from other investors, our stake will inevitably diminish. It would be better to just do a capital increase and acquire those shares. I thought about keeping our share at 49%, and whatever I think about it, that seems to be the best approach.”

While I could formulate the overall investment strategy, Han Gyeong-yeong was more attentive to the finer details.

I appreciated his deliberation, but we couldn’t keep all 49% of the shares.

We had to bring in new investors.

“I agree that’s the best option, but a variable has arisen in our plan. It seems that we need to invest in the Communist Youth League as well, at least for Alibaba and Baidu.”

“Communist Youth League? What are you talking about all of a sudden?”

I summarized the conversation I had with Hu Jintao from the day before.

“Ugh… This country is openly chaotic. Especially with a leader like that.”

“It’s unavoidable. If no one can hold absolute power, then ultimately, one has to buy loyalty with money to protect their power. Doing that successfully is what Jiang Zemin of the Shanghai faction excels at, and it’s natural to require substantial funds to compete against him.”

Han Gyeong-yeong furrowed his brow.

It’s similar to American lobbying, but that probably doesn’t sit well with him.

“It’s not a bad deal for us either, so don’t view it too negatively. In the end, since they are the ones investing, they’ll naturally ease regulations and continue to roll out favorable policies.”

Even though it was frustrating to have to convince such a stubborn person, in the end, we achieved a good result.

For the sake of increasing his wealth, Hu Jintao would push for favorable policies.

“How much do we need to lower our stake?”

“If we estimate transferring about 20% of the shares to them, how much of our stake can we sustain?”

“We need to ensure some shares for the founders, so perhaps around 40%… But how much will the investment be?”

Han Gyeong-yeong started counting on his fingers before suddenly asking.

“I haven’t discussed the details yet. I’m expecting a call tomorrow, so we’ll talk then. Based on the current valuation of the company, what would a 20% stake involve?”

“I need to calculate that precisely. We need to invest at least fifty million dollars in Alibaba, and for Baidu, it’s a bit uncertain…”

Han Gyeong-yeong, still counting on his fingers, suddenly pulled out a fountain pen.

I left him to diligently jot something down on a sheet of paper in front of him and got up from my seat.

Just then, Manager Ma arrived with our meals.

“Have you eaten, Manager?”

“Yes, I have.”

I nodded and sat down at the table to eat the food that Manager Ma brought.

Once I finished my meal and returned, it seemed Han Gyeong-yeong had wrapped up his calculations.

“The specifics will have to be discussed with the management, but it seems we’ll need to redirect the upcoming investment that way. Then we can organize Alibaba through a capital increase to possibly reach up to 45%. For Baidu, we’ll likely need to reduce to around 40%.”

He then handed me a piece of paper.

I followed the jumbled numbers he had written but found it hard to decipher as it looked more like scribbles.

“If you say so, then it seems right. You stay in Beijing and sort that out with the management.”

“So you’re going to Shenzhen by yourself?”

“Isn’t it better to operate separately rather than together? I need to finish quickly. I plan to swing by Tencent and then check in on my cousin’s filming site, so I’ll handle that alone.”

This time, Cheon Ji-young would be appearing in a Chinese drama.

Having heard that she was currently filming there, I intended to pay a short visit.

“Let’s go with that plan then. I have quite a few people to meet regarding investments in Beijing anyway.”

“Then I can head straight to Moscow from Beijing. After finishing things at Yukos, I can finally take a breather.”

“Hey, you heartless boss!!”

As Han Gyeong-yeong waved his fist at me, I turned away and headed back to my room.

It’s strange, but I always feel tired whenever I’m in China. I stepped into the bathroom and soaked my weary body in the warm water I had prepared in advance.

I departed from Beijing and arrived at Shenzhen Bao’an International Airport.

The schedule was to depart in the early morning and arrive by noon.

What surprised me was that not only foreigners but domestic residents also underwent exit and entry inspections.

“How ridiculous. An exit pass in the same country.”

It was laughable that such measures were taken to uphold a socialist system. It was just sheer absurdity.

Manager Ma returned with the entry permit we received back in Beijing after finishing the immigration procedure.

As soon as we stepped out of the airport, we hopped into the prepared vehicle.

“Let’s head straight to Tencent’s headquarters.”

We set off from the airport and drove into the heart of Shenzhen city.

Geographically close to Hong Kong, Shenzhen had been designated as an economic special zone during the Deng Xiaoping era and was developed on plan.

It was built with the idea of being turned into a special administrative region, bundled together with Hong Kong once it was returned to China. However, plans for a special administrative region were scrapped due to opposition from Hong Kong citizens and political events like the Tiananmen protests.

Nonetheless, Shenzhen capitalized on its proximity to Hong Kong to attract Hong Kong companies and was rapidly advancing.

“We’ve arrived.”

As I toured the city, we pulled up at the Tencent headquarters building.

The bodyguards stayed put while Manager Ma and I got out of the vehicle.

As we approached the building, a security guard stepped in our way.

“How may I help you?”

“I have an appointment to meet with CEO Ma Huateng.”

The mention of my meeting with the CEO instantly softened the security guard’s demeanor.

“Are you arriving from the U.S.?”

“That’s right. Please let them know that my party is here too.”

“Understood. Please wait a moment.”

The security guard quickly contacted someone then returned to guide us.

Once in the conference room, two men were waiting for us.

Ma Huateng and Zhang Zidong, both faces I recognized from memory.

I knew Tencent was founded by five individuals, so where had the other three gone?

Hiding my confusion, as I entered the conference room, the two men rose from their seats.

“Welcome. I’m Ma Huateng.”

Ma Huateng extended his hand first, and I took it, giving it a light shake.

“Pleasure to meet you. I’m Kim Mu-hyeok.”

Smiling, I faced the two founders of what would soon become a giant in China’s IT industry.