Empire of the Ring

Chapter 494: To the Ocean (2)

“I’m going to prove the greatness of the Kazakh royal family this time.”

Jong-il said as he was thinking about meeting the Greek government as the Earl of the Kazakh Kingdom.

“Do you think European aristocrats became aristocrats overnight like you?”

“What do you mean? A new noble is also a noble.”

“Man, European aristocrats are distinguished people. If you want to be treated as a nobleman, you have to be a nobleman from the core of your bones, and you have to be a generous and virtuous person.”

“If you have a moral person as much as I am, show me.”

“You completely forgot what you had done when you were a bachelor. How many women cried because of you?”

“This guy keeps reminding me when I’m about to forget about the past. Who hasn’t been in a relationship when you were a bachelor?”

“But not like you. You’ve changed girls as if you’re eating a meal.”

“So I don’t have the right to be an Earl?”

“I mean, you need to keep your dignity as an aristocrat now. Please be careful wherever you go. If you do something wrong, the whole thing will be ruined.”

“Don’t worry. I’m already a man of noble dignity. I didn’t become an Earl overnight, but I started as the baron and stepped up from there one by one…”

“Hahaha… What about skipping the position of viscount?”

“When you’re achievement is too big, you can skip a level or two.”

A special envoy was a temporary title that was sent from a government to another country’s government to negotiate on something. It was an international courtesy for the receiving government to treat the visiting special envoy as the head of sending government.

It was because a special envoy was different from the ambassador residing in the receiving country as it was to deliver a special message from the head of the sending government. Thus, most people who were pointed as a special envoy were inevitably the closest aides of the head of a government.

“You might not get a good response from your first visit. So, don’t jump to conclusions too quickly.”

“I should at least try my best to convince the Greek government.”

“Now, the Greek government is in such a dire financial situation that it will want to join the devil, take advantage of it.”

“Kazakhstan has a small number of foreign exchange reserves, so what good can it do?”

It would not a lot much if two countries that did not have much would form a currency swap agreement, but the Greek government would want to take any chance it could get.

“It doesn’t matter whether Kazakhstan will be helpful to Greece or not. When everyone else turns a blind eye on you, you appreciate any hand that reaches out to you.”

“Isn’t Greece a member of the European Union? I don’t think the EU will abandon it.”

“If EU doesn’t see the willingness of the Greek government, or its people to overcome the financial crisis on their own, Greece will be forced out of the European Union without mercy. That’s when we come in. If the Greek government ignores Kazakhstan for not having much foreign exchange reserves, tell that the royal family can lend money.”

Greece had a weak manufacturing base and consisted of mostly a third-tier industry-oriented industrial structure such as tourism and marine transportation.

However, due to its excessive social welfare policy, its productivity was reduced, and it was on the verge of drowning due to high prices and financial costs.

If Greece needed money, Youngho would gladly lend the Kazakh royal family’s money. Only then, he would be able to get a harbor or land in Greece. This was because Greece could not afford to pay back its money under the economic circumstances of the country.

“And if you go this time, take a look at the shipping companies that are on sale.”

“You want to buy a shipping company there, not looking for charter ships?”

“I think it’ll be more convenient to take over a company of a decent size.”

“Okay, that doesn’t sound bad.”

“Find a company that has newer ships.”

“It’ll be expensive.”

“I still have a lot left from the former president’s slush fund. We will also use financing to take over the company. It won’t cost that much in the beginning.”

Greek shipping companies were the largest in the world, occupying 18 percent of the world’s ship capacity, which was 3,079 vessels. As for the types of ships, oil tankers or bulk carriers were the world’s No. 1 and container ships were the fourth largest. But even the wealthiest Greek shipping company owners could not avoid the economic crisis, so there were a lot of shipping companies on the market, some were at a quite cheap price. That was why Youngho planned to buy a Greek shipping company now.

***

“Your Highness. I’ve returned safely.”

“Eriksson, why did you come back so fast? You could’ve spent some more time with your family. I gave you enough time to travel somewhere nice. I hope your family doesn’t blame me.”

“Mr. Basten urged me to go back quickly, so I couldn’t stay longer.”

“There must be something he wants from me, isn’t that right?”

Youngho had promised Basten some gold bars when he visited Kazakhstan with some investors from Europe. That was why he sent gold bars along with Eriksson when he went back home for the New Year’s vacation.

“How did you know that? He asked me privately if he could get some more gold bars.”

“Has China’s economic situation gone bad rapidly now?”

“I think there are some signs. Kazakhstan also must make every effort to manage the foreign currency.”

Youngho had been making bold moves against China because Basten had informed him about China’s economic situation. China was in a situation where it could risk any economic damage.

“Our economy is small enough to hold out. If there’s an economic crisis, it’s going to be an opportunity for us.”

“But we have to raise the gold rate to the dollar.”

“Don’t worry. We’ve got gold mines and state-of-the-art deposition equipment all over the country, so the amount of gold in the future is going to grow exponentially. So tell Mr. Basten that we’re going to send about five tons.”

“Your Highness. You’ve already given him enough last time.”

“I’m getting back something equally valuable in return.”

“Are you going to let him pay with the company’s share again?”

“Yes. Information Agency is a valuable information source. This is important for the future of Kazakhstan as well.”

Most of the shares that Basten’s Information Agency had been of those companies with original technology. There were defense companies like Sweden’s Saab and U.S. chemical, electrical and electronics companies. Since Information Agency was a major shareholder of such companies, acquiring shares of Information Agency would naturally open the way for Kazakhstan to engage in the management of those companies. That meant it would be easy to transfer technology as well.

“I heard that Earl Park is going to Greece as a special envoy this time.”

“We plan to open the island in Aegean Sea as a military port officially.”

“I heard you’re taking over the shipping company as well.”

“I’m planning to increase the size of Arirang Shipping. In order to diversify our import lines, we need to be able to digest all of Kazakhstan’s logistics first.”

“If you’re seeking a Greek shipping company, would you like me to check it out?”

Eriksson, a former agent of an Information Agency, must have some idea about the shipping companies in Greece already since he suggested it first. He was a man who used to handle all kinds of economic information, so he could quickly get a hold of what he wanted to purchase through his connections.

“Do you know a plausible shipping company? Then why don’t you accompany Earl Park?”

“I will go to Greece with him, if you want me to. I know a wealthy person who owns a shipping company there. If we go through him, we’ll find a good shipping company at a bargain price.”

Among the Greeks, there were more than 80 families that had succeeded in the shipping business. Onassis, famous for marrying Jacqueline, the widow of President Kennedy, was an internationally known maritime tycoon. There were more shipping tycoons that were even greater than him.

“The shipping tycoons, whose names you would have heard once in your life, are having a hard time these days. They ordered a lot of ships when the shipping industry was doing well, but now it’s taking its toll on them.”

“Is that so? If they ordered ships before, those ships would be ready to launch by now.”

“In order to acquire the new vessels, the shipping company owners would have to sell their old vessels, but it’s difficult for them to do so because they’re tied down to excessive ship financing. Now, a person with a lot of cash can be a king in the shipping industry.”

This meant that Youngho could be a king in the shipping market. That was because he still had 7.2 billion dollars from President Nazarbayev’s secret fund and 480 tons of gold bars. Of course, he invested in the railway business in the Caucasus and paid a deposit for the new Aegis destroyers and Saab fighter jets from the money, but there was no problem since he still had a lot left and he was to keep making money from his businesses.

“How much would a mid-sized Greek shipping company cost?”

“It’s going to be astronomical in terms of the total amount, but it won’t be too much of a burden if you do ship financing. And there is a way to own a shipping company without having to buy one. It may take some time, but you can try M&A through stock purchase. If you have money, there’s always a way.”

“I don’t want to expand my business at the risk of hearing that the royal family took over the company by force.”

“How do you know who’s behind it when you take the right steps to take over a company using an agent?”

“People will find out about it one day.”

“Even if you don’t step in, hyenas will come to take over a collapsing company. Rather, your acquisition opens the door for its employees. The company hunters are only interested in money, not the employees of the companies.”

“Really? Then we’ll have to step up to prevent the sacrifice of the employees.”