Chapter 151: Let’s Carry Out the Acquisition

“What exactly is the reason President Douglas keeps meeting so frequently with Director Lipman?”

Director Glenn Nevers paused for a moment to consider his answer before replying to Chairman Bongard over the phone.

“I believe it's a case where both the necessary and sufficient conditions are present.”

“The necessary and sufficient conditions...? What exactly do you mean?”

“Westinghouse possesses a great deal of nuclear power plant technology. However, its own construction capabilities are in a rather miserable state.”

“So you're saying they're obstructing the Korean side simply to squeeze out licensing fees?”

“Exactly right, Chairman Bongard.”

“And what does President Douglas gain from this?”

“If Westinghouse wants to collect that money from Korea, it absolutely needs the support of our government.”

“So Director Lipman financed President Douglas's political campaign in exchange for government support?”

“I won't deny it.”

“Hm...”

Chairman Bongard fell silent, deep in thought. Director Nevers quietly waited, giving him time to think. After a while, the chairman spoke again in a meaningful tone.

“Director Nevers, is Director Cha beside you?”

“One moment, please.”

Nevers handed me the phone.

“Chairman Bongard, I'm listening.”

“Are Korean construction companies required to use Westinghouse's technology?”

“I'm not knowledgeable enough about the finer details of nuclear energy. Perhaps it would be better to ask a specialist?”

“That would probably be best.”

“We'd also like to hear the conversation, so with your permission I'll put the call on speaker.”

“Do whatever is most convenient.”

I switched the phone to speaker mode and handed it to An Jeongguk, CEO of Hangang Engineering.

After exchanging greetings with Chairman Bongard, An Jeongguk immediately got to the point.

“Director An, do you know what I just asked Director Cha?”

“Yes. He just explained it to me.”

“Excellent. Then I'd like to hear °• N 𝑜 v 𝑒 l i g h t •° your opinion.”

“The nuclear reactor our country proposed to the Czech government is the APR-1000 model. Westinghouse claims that the reactor was developed based on its proprietary technology.”

“And what is the Republic of Korea's position?”

“Our position is that the APR-1000 is an entirely independent domestic design, so there is no issue.”

“Westinghouse knows that perfectly well. Then why are they still making trouble?”

“Our country is one of forty-eight members of the Nuclear Suppliers Group. Under the organization's guidelines, when nuclear technology is transferred to a third country, permission must be obtained from the country that originally owned the technology.”

An Jeongguk paused briefly to catch his breath before continuing.

“Although the APR-1000 was independently developed by us, it's still true that Westinghouse's technology served as its foundation. That is why approval from the U.S. government becomes necessary.”

“Ah... So that's why Director Lipman keeps hovering around President Douglas.”

“I believe that's exactly the reason.”

“And is there any way to solve this problem?”

An Jeongguk realized this was the decisive moment. His answer could completely change the situation.

“As unfortunate as it is to admit, involving Westinghouse in the construction of the nuclear power plant would be the lesser evil. However, the more effective and fundamental solution would simply be to acquire Westinghouse.”

“Then why don't we buy it?”

“There have been attempts, but as far as I know, Cameco, Westinghouse's current largest shareholder, demanded far too high a price, so our side backed away.”

“And how much did Cameco ask for?”

“I've heard they're asking for ten billion dollars.”

“One last question. What are the prospects for the nuclear power industry?”

“With nuclear power now being incorporated into clean energy initiatives, the market will undoubtedly continue growing.”

“I understand. Please hand the phone back to Director Cha.”

I already had a good idea what Chairman Bongard wanted to discuss.

Taking the phone back from An Jeongguk, I spoke again.

“Chairman Bongard, I'm listening.”

“Director Cha, what do you think about having our new investment company simply acquire Westinghouse?”

My guess had been completely correct.

“I can't make that decision on my own.”

Before I could finish speaking, Chairman Yoon Jongu cut in.

“I wholeheartedly support Chairman Bongard's proposal!”

“Oh, is that Chairman Yoon Jongu's voice?”

“That's right. Chairman Park Yeongil of Korea Investment is here as well, and he fully supports the idea.”

“Hahaha! I understand.”

Having achieved his goal, Chairman Yoon quietly stepped back and let me continue.

“Chairman Bongard, we can't buy Westinghouse for ten billion dollars.”

“Then what price do you consider reasonable, Director Cha?”

“When Cameco acquired Westinghouse, the deal was worth 7.9 billion dollars.”

“So if we acquire it for seven billion, would that satisfy you?”

“Is that actually possible?”

“I don't make promises lightly.”

If one of the richest men on the planet spoke with that much confidence, there was little point in doubting him.

“I understand.”

“Then it's settled. We'll acquire Westinghouse as soon as the investment company is officially launched.”

“I think that's the best approach.”

After chatting a little longer with Chairman Bongard, I returned the phone to Director Nevers.

Once he finished the call and hung up, Chairman Yoon Jongu looked at me in disbelief.

“Director Cha, can we really acquire Westinghouse for seven billion dollars?”

“It's entirely possible.”

“How?”

“The Bongard Investment Group is the largest shareholder of Royal Bank of Canada, which in turn is Cameco's largest shareholder.”

“You mean he'll pressure Cameco through Royal Bank of Canada?”

“Exactly, Chairman Yoon.”

At that moment, NIS Director Om Giyeon, burning with curiosity, joined the conversation.

“Director Cha, can the investment company really acquire Westinghouse?”

“Chairman Bongard is a man who always keeps his word.”

“If you're that confident, then I'll simply believe you.”

Before anyone else could speak, however, CIA Director Eddie Griffin asked his own question.

“Director Cha, what exactly is this investment company Chairman Bongard mentioned?”

“Korea Investment, Hangang Group, and the Bongard Investment Group have agreed to jointly establish an investment company. It's currently in the process of being incorporated.”

“I see. And when do you expect the process to be completed?”

“We're aiming to finish by the end of the first half of the year.”

Ignoring my answer, Griffin turned toward NIS Director Om Giyeon.

“In my opinion, unless some natural disaster occurs, the newly established investment company will have no problem acquiring Westinghouse. What do you think, Director Om?”

Om Giyeon immediately understood the implication behind Griffin's question.

Now that Westinghouse had effectively been neutralized and would no longer interfere, it was time to arrange a meeting with Jo Ilcheol, Deputy Director of North Korea's Reconnaissance General Bureau.

However, Director Om had a different idea.

“I only asked Director Nevers to stop Westinghouse's interference as a condition for allowing your participation in Lee Jonghyeok's interrogation.”

“So you're saying there won't be a meeting with Deputy Director Jo?” Griffin's irritation was obvious.

“If you want to meet Deputy Director Jo, you'll have to offer something else in return.”

“And what would you like?”

“It costs a considerable amount of money to maintain Deputy Director Jo in comfortable conditions.”

“That won't be a problem.”

“What a quick response. Well then, shall we go?”

“What about bringing Director Cha with us?”

“Director Cha?”

“The greatest credit for bringing Deputy Director Jo to Korea belongs to Director Cha. Wouldn't Jo himself want to see him?”

“That makes sense.”

The location of the safe house where Deputy Director Jo Ilcheol was being held was an absolute secret.

For that reason, only NIS Director Om Giyeon, Commissioner General Choi Dongyeong, CIA Director Eddie Griffin, FBI Director Glenn Nevers, and I would be going.

Including the driver, there were six of us altogether, so we traveled in a minibus.

As soon as we sat down, Director Nevers asked,

“Director Om, how long will it take to reach the safe house?”

“Now that rush hour is over, about forty to fifty minutes.”

“I'm exhausted. Do you mind if I get some sleep?”

“Of course. Make yourself comfortable.”

Worn out from the long flight and the time difference, Nevers reclined his seat and quickly dozed off.

Watching him, I turned to Om Giyeon.

“Director Om, how much longer do you think President Xi Jinping will remain in power?”

“Considering that he's established a solid foundation for indefinite rule, I think he'll remain in power for at least another ten years.”

Director Griffin, however, seemed to have a different opinion.

“Director Cha, have you heard of Xi Jinping's policy of ‘common prosperity’?”

The policy emphasizes wealth redistribution rather than economic growth in an effort to reduce the gap between rich and poor in China. As a result, numerous problems have begun to surface.

If I answered that I knew everything in detail, Griffin might feel awkward.

“I've heard a little about it.”

“Then it'll be easier to explain. For ‘common prosperity’ to become reality, the country first has to reach the level of a fully developed nation.”

In other words, Xi Jinping had uncorked the champagne too early.

“Ah, now I understand what you're getting at.”

“China's economy is already struggling because of the collapse of the real estate market. On top of that, both the ‘common prosperity’ policy and the Anti-Espionage Law have caused foreign capital to leave the country at an astonishing pace.”

Considering this point particularly important, Griffin paused before continuing.

“Many Chinese economists argue that both the ‘common prosperity’ policy and the Anti-Espionage Law should be abolished in order to save the economy, but Xi Jinping refuses to budge. As a result, public dissatisfaction is growing by the day. If the people's patience finally runs out, Xi Jinping could lose his position before his term ends.”

“If he were removed, who would be able to seize power?”

“Our agency has been closely monitoring Tang Guochang, the Vice Chairman of the Central Military Commission.”

“Vice Chairman Tang?!”

Griffin found my reaction somewhat strange.

There had been something in Cha Jiham's tone that suggested he already knew who Tang Guochang was.

Wanting to confirm his suspicion, Griffin cautiously asked,

“I've never met him personally. I only heard his name from Triad Vice Chairman Wei Chen.”

“From Vice Chairman Wei Chen?”

“Politburo member Liu Peiqi believes that former K&J Bio CEO Go Yeongjun established connections with Tang Guochang. In his opinion, Go escaped and stole the gold bars with Vice Chairman Tang's assistance.”

“I see... Do you know anything else about him?”

“Liu Peiqi was engaged in a fierce struggle with Tang Guochang for a seat on the Politburo Standing Committee.”

At that point, Om Giyeon interrupted with another question.

“Director Griffin, is Vice Chairman Tang Guochang truly capable of taking Xi Jinping's position?”

“He effectively controls the People's Liberation Army, and he's an extraordinarily ambitious man.”

“You're saying he'd stage a military coup?”

“If he wants to become Chairman, there really is no other path available to him.”

“Hm... I see.”

“Then why don't we simply ask Go Yeongjun about Tang Guochang's intentions?”

Unfortunately, former K&J Bio CEO Go Yeongjun was already dead.

Director Om Giyeon could only sigh at the missed opportunity.

“Go Yeongjun is no longer alive.”

“What do you mean?”

“While he was being transported to Korea aboard a submarine, there was an unexpected encounter with Deputy Director Jo Ilcheol's people. We had no choice but to sink him in the Pacific Ocean.”

“I see...”

Director Griffin's regretful sigh echoed through the cabin of the minibus.