Dear Comrade

＜ Chapter 22. The start of the war (3) ＞

Chapter 22. open war (3)

Of course, it took at least a few more months for Peony Holdings, or Chosun Investment Corporation, to be launched.

However, during those few months, the movement, ups and downs of wealth within the Asian continent were truly astronomical.

In January 1990, the Japanese Ministry of Finance (Ministry of Finance) announced a system to limit the total amount of investment in mortgage loans to prevent overheating of the real estate market.

As the base rate was also raised, the Japanese stock market and real estate market, which had been drenched in a dream, began to plunge as if it had poured cold water on it.

The Nikkei index fell from 38,000 points at the end of 1989 to 29,000 points in April of the following year.

In the meantime, Japanese companies that had abandoned their main job and invested only in stocks and real estate with loans borrowed from banks, and branch managers who were abusing real estate loans to those companies without the approval of the headquarters, were confused, but did not yet realize what was going on.

On the contrary, I even thought of this as I watched real estate prices rise further as regulations such as the strengthening of transfer tax and the land transaction monitoring zone system were overused.

Real estate is indestructible, Japanese real estate never collapses. It’s temporary now, but it will surely come back someday.

This belief still underpins the real estate market.

However, such beliefs also began to gradually crack with the announcement of the ‘regulation system for total amount of real estate-related loans’ in March.

Meanwhile, there were people watching the Japanese stock market cracking like that.

“It seems like it is time to start disposing of it. It would be a big deal to sell at such a volume.”

“There are a lot of antiques and golf course memberships that have not been sold yet. This is a won, the leaders of other countries steal their treasury and fill their own money, but I think I’m going to use my own money to fill the treasury.”

“Hahaha… This republic is now the kingdom of Comrade General Secretary, is it necessary to distinguish between the state treasury and private wealth? Most of the people will probably agree with me. Already in downtown Pyongyang, it is easy to hear the hurrah of Comrade General Secretary regardless of the security guard’s watch.

is.”

“Even if it’s a joke, it’s a big deal. If you do not clearly distinguish between public and private, all that remains is a crucible of irresponsibility. Anyway, I wish you all the best in the future. A corporate ordinance will be issued soon, but for the time being, the economy of the republic will have to be led by state-run companies including the Korea Investment Corporation.”

“Disposing of a put option is not difficult in itself, but… unless all of the prickly eyes are knotholes, there’s no way you can’t go unnoticed by this amount of money moving. No, there must be a lot of people who are curious about the increase in this tremendous asset before that, how will the general secretary explain this?

Do you think?”

“That’s a good question, but since the story of a state-owned company has come out, I have to show it as well. It’s good to see that the faces of the South Korean comrades are already turning blue.”

And that year, in the spring of May 1990, news that made most Koreans doubt the eyes appeared in the headlines of the Korea Daily and various media and news agencies.

– North Korea officially announces the launch of its first state-owned enterprise, and after the inauguration of the new general secretary, the reform and opening movement begins in earnest. Substantial abandonment of communism… Is this the signal of capitalism in line with the collapse of the Soviet system? – Experts, ‘We have to keep an eye on it, but the probability of success is not high…. It is far above the 30-year know-how of South Korea’s capitalism’.

– ‘Economic absorption and unification theory’ flowing from the official family… A senior Blue House official who requested anonymity said, ‘Limited reform and opening to maintain the Kim Jung-hwan regime, and North Korean diplomacy that goes beyond northern diplomacy with accumulated capital’

– Sinuiju, Rason, Wonsan, Nampo, etc… It seems to be slowly transitioning to a Chinese-style state capitalism system centered on the planned development special zone… The key is whether foreign capital is invested mainly in the US and the US, and the launch of the first state-owned company in North Korea Attention is focused on…

– This is Chosun Central Broadcasting. At today’s Politburo meeting, the launch of a Soviet-Chinese state-owned company was approved. This was in accordance with the directive that ‘the party military government should work together to save and protect the wealth and people’s capital of the nation that will feed the republic and achieve a strong and prosperous nation in the future’.

There is already anticipation inside.

Although the Ministry of Finance and Economy of the Workers’ Party of Korea was a 100% state-owned enterprise, North Korea’s official approval and launch of an ‘enterprise’ type of organization in a capitalist country was truly a milestone.

This information was widely reported not only in South Korea, but also through the Rodong Sinmun and the three major North Korean broadcasters, with the permission of the general secretary that ‘the people should also pour in the waters of reform and opening up little by little from now on’.

And again, a few days later, the foreign media who were keen on the transition to another communist state system were able to taste the ‘disruption’ once again.

The place announcing the launch of North Korea’s first state-owned enterprise was held at Kim Il-sung Square, the heart of North Korea, in the form of a ‘press conference’.

In other countries, it is not uncommon to have a press conference in which a government spokesperson asks and answers reporters’ questions.

However, in the extremely closed modern medieval country of North Korea, opening a press conference to foreign journalists under the leadership of the Party is as difficult as seeing extinct dinosaurs in the present world.

“Huh, with this, communism is buried with the Soviet Union, and Marx and Comrade Lenin will weep in their graves.”

“Look at that! Isn’t Heywood the British ambassador? Not long ago, Prime Minister Thatcher decided to formally establish diplomatic ties with North Korea… But why is that yangban here? What does this have to do with the launch of a state-owned enterprise?”

It is very unusual for a closed North Korea to have a launch ceremony with foreign reporters gathered to inform the outside world as much as possible. number

there was.

“What. North Korea announces the launch of a state-owned enterprise at Kim Il-sung Square? Even at a press conference? Are you kidding me now?”

“Now, it is being delivered in the field through Reuters in the UK and Itartas in the USSR (TACC). That screen over there.”

Park Se-hwang, who ran away from the door, took a deep breath and looked around, then quickly turned his head to one side at the words of the staff.

On that screen, a video of Kim Il-sung Square, which had been seen countless times, was playing, which took a while to recognize because it had a completely different composition.

– This is Choi Seung-il, an employee of the Ministry of Finance and Economy of the Workers’ Party of Korea and the president of Chosun Investment Corporation, the first company in Joseon to be launched today. I had my fellow journalists ask questions.

– Not long ago, the party declared a special economic zone! Does this imply that North Korea has abandoned the communist regime?

– The Republic of Korea, as it has always been, is just striving for the self-reliance of the Korean people and building a strong and prosperous nation. If the road is capitalism, it will only lead to capitalism, and if it is communism, it will only lead to communism.

Seeing Choi Seung-il skillfully avoiding the foreign reporter’s questions while keeping his expressionless expression, Park Se-hwang kicked his tongue.

“Huh, you cleverly avoided the question. I mean, I’ve heard a lot about those guys in the socialist camp for a long time that it’s not socialism, it’s nothing, it’s a mutant. Come on, look for the material!”

“It’s Choi Seung-il, who was previously registered on the blacklist of the Ministry of Security and Security in Room 39… I haven’t seen him for quite some time, so I assumed that the analysts were purged, how is he alive? Perhaps… Kim Jung-hwan was the one who came into the system and called him back?” “Fuck, ‘maybe’? What do we look like now…”

A major change in the system is taking place right in front of his eyes, and Park Se-hwang swears at the frustrating reality of not being sure whether the North Korean factor is dead or alive.

However, that would not change the reality, and for now, I had no choice but to look at the screen and hope that foreign reporters would answer the questions they wanted.

Fortunately, the question he was waiting for was just answered by another reporter.

– Peony Holdings, which will be launched here… So, for what purpose will the Korea Investment Corporation manage the fund?

– As with other countries’ funds, it is to create a people’s capital that uses the people’s blood and sweat to secure abundant products, stabilize the economy, and above all, protect the economic sovereignty of the Korean people from foreign powers.

– How big is the asset?

– It’s confidential, so I can’t tell you.

– It’s a bit of a direct question, but can you tell me where the source of those assets came from? So, until recently, North Korea wasn’t a communist regime, but where did you get those assets?

– I think it would be better if Ambassador Heywood and Comrade Jang Seong-taek, who are standing next to us, explain this.

“It’s Jang Seong-taek! Manager, that person is Jang Seong-taek, right?”

“Shh! Shut up and listen! Now this is the most important question!”

At the murmuring of the security staff, Park Se-hwang put his finger to his mouth and urgently silenced them.

And soon, a white man he had never seen before and Jang Seong-taek, head of the Organizational Guidance Department of the Workers’ Party of Korea, appeared on the screen.

– Eh… Hmmm, I am truly honored to announce the discovery of a valuable resource that will be of great help to the financial management system of our Republic.

– A valuable resource? What does that mean?

– For the past year or so, we, the Democratic People’s Republic of Korea, have been conducting oil exploration with the British Petroleum Resources Company, and as a result, we have confirmed that there are oil deposits in several areas including Jaeryong, Hwanghae Province.

– G, now… So North Korea… Are you saying that North Korea is an oil-producing country?

“Wait, oil? What are you talking about right now, so North Korea is now producing oil?”

Park Se-hwang’s voice was trembling as much as the foreign reporter’s voice.

There was no answer to his frustrating question, because the other security staff were also staring at the screen with their faces hardened.

And as if tearing apart Park Se-hwang’s heart, Jang Seong-taek in the picture nodded vigorously.

– That’s right. That fact will be guaranteed by Ambassador Heywood here. Ambassador Comrade?

– thank you. Chairman Jean. Heywood, who took over the microphone, swallowed and looked at the camera flash, which was pouring down on him several times more than before, and then opened his mouth.

– A year ago, I arrived in North Korea as the head of the British interest mission mission. With the British Petroleum Exploration Team. According to the treaty of understanding agreed between General Secretary Kim and Prime Minister, our British company first secured exploration rights throughout North Korea, and the results were positive.

– Are you saying that British Petroleum has been exploring resources in North Korea? Are the exploration results reliable?

– According to the exploration team, according to various scientific investigation methods, such as seismic surveys, sedimentary layers clearly containing crude oil have been identified. In addition, we believe that there is a possibility that a significant amount of crude oil may be buried not only in the Jaeryong area, but also in Seohan Bay and the east coast of North Korea.

When Ambassador Heywood’s endorsement ended, this time Jang Seong-taek took over the microphone again.

He had a confident smile on his face, but the briefing room of the Ministry of National Security, two hundred kilometers away, was so complicated that even a needle could be heard dropping.

– I think this is a sufficient answer to how our assets were formed. Our general secretary directed that this oil be diverted as a basis for reform and opening up of the republic in order to improve the people’s living standards, and as part of that, our organizational and leadership department was led by British Petroleum.

We are preparing to launch a company called ‘Joseon Oil Corporation’ through a joint venture with Rum.

At this meeting today, reporters were buzzing again at the announcement of another unexpected launch besides the Korea Investment Corporation.

Soon one of them quickly asked a question .