I called a meeting for the first time in a while.
Professor Kim Ho-min had decided to use the money earned from developing OTK batteries to support basic science in Korea.
There was no way I could let him do this good deed alone. So, we decided to proceed with the project at the company level.
Professor Kim Ho-min came up to headquarters to attend the meeting. He usually looks like a bum, but today he had a neat haircut and was clean-shaven.
“Is the company really going to establish a foundation?”
“Don’t worry. We’ll name the foundation the Kim Ho-min Foundation.”
“Ah, no. You really don’t have to do that.”
“It’s a foundation for supporting basic science, so we should at least use the name of a Nobel laureate in Chemistry.”
“It’s a bit embarrassing.”
Professor Kim Ho-min chuckled awkwardly.
The head of the Golden Gate legal team, Team Leader of Legal Team 1, also attended the meeting to get advice on legal procedures, including the establishment of the foundation.
Looking at the Team Leader of Legal Team 1, who was wearing a suit and had her hair neatly tied back, I thought:
Her beauty is working hard again today.
When I nudged Ellie’s foot under the table, she narrowed her eyes and glared at me with a slightly annoyed expression. Her face seemed to say, ‘We’re here for work, so stop flirting and focus on business.’
I quickly spoke.
“…So, we are thinking of establishing a foundation. We plan to cover the operating costs by allocating a portion of the profits from the OTK Research Institute.”
As battery production increases, patent royalties coming into the research institute will also increase, so there should be no shortage of operating funds.
Taek-gyu said,
“Isn’t this kind of thing supposed to be done by the government?”
“Looks like they don’t have the budget.”
At my words, Taek-gyu shook his head.
“Someone once said, ‘It’s not that the country doesn’t have a budget, it’s that there are too many thieves.’”
“……”
Who said that?
In fact, Korea has a very high R&D investment ratio compared to GDP. However, investment in basic science has been almost nonexistent.
The reason is that those in high positions prefer results within a year or two. Therefore, basic science, which requires long-term research, inevitably gets pushed down the priority list.
“Separately from that, I’m thinking about building university dormitories. What do you think?”
After visiting Korea University this time, I investigated the dormitory situation at universities. The dormitory accommodation rate was only 20 percent.
Even then, the accommodation rate for universities in the Seoul metropolitan area is much lower than that of universities in provincial areas.
In other words, it is more difficult for students who go from the provinces to the Seoul metropolitan area to get into dormitories than for students who go from the Seoul metropolitan area to the provinces.
University students usually receive financial support from their parents.
Then, which is harder, finding a room for a child who went from the Seoul metropolitan area to the provinces, or finding a room for a child who went from the provinces to the Seoul metropolitan area?
The latter is overwhelmingly more difficult.
There are two reasons for this: first, household income in the Seoul metropolitan area is higher than in the provinces, and second, rent in the Seoul metropolitan area is much higher than in the provinces.
Looking at Seoul alone, the situation is even more serious.
House prices in Seoul were already expensive, but they have literally skyrocketed in recent years. Rent is already not at a level that university students can afford with part-time jobs. Because of this, the housing conditions for students attending universities in Seoul are extremely poor.
Team Leader Jung Gi-hong nodded.
“That’s right. Korea University has lower tuition fees, so the situation is a bit better, but there are still quite a few students living in goshiwons or one-room residences. Hyun-woo, who came up from Gimcheon among my classmates, lived in a goshiwon for all four years.”
I was surprised.
“That sunbae lived in a goshiwon?”
“I found out later. People tend not to talk about those things.”
“That’s true.”
I also didn’t talk much to my friends after my family situation became difficult.
Well, I heard that Sunbae Hyun-woo is now employed at Mirae Asset Securities, and he occasionally meets up with Sunbae Gi-hong for drinks.
Sunbae Sang-yeop said,
“What about land? You need land to build buildings, right?”
“Contact domestic construction companies and ask them to sell any land they have around universities. Offer them construction rights in return.”
“Then that should solve it. But won’t there be strong opposition?”
Everyone nodded in agreement, except for Ellie, who looked completely clueless.
“What are you talking about? A company is building dormitories for students, who would oppose that?”
“Studio apartment owners nearby.”
“Why?”
“They make a living by renting to students, and if dormitories are built, rent will fall, vacancies will increase, and their livelihoods will be threatened.”
“……Huh?”
I explained the Korean situation to Ellie, who wasn’t familiar with it.
There have been continuous requests from students to increase dormitories, and universities have started building dormitories, but many projects have been cancelled because studio apartment owners opposed them, citing their right to survival.
Ellie still looked unconvinced.
“Even so, if a university is building on university-owned land, shouldn’t there be no problem?”
“Local governments don’t grant permission. They drag out time with environmental impact assessments and traffic impact assessments, and so on.”
Local residents have the right to vote to elect mayors, district heads, city council members, district council members, and local members of the National Assembly.
On the other hand, most students have their registered addresses in other regions and are not very active in voting.
So, regardless of right or wrong, local politicians unconditionally side with the residents who can give them more votes.
“Politicians tend to prioritize the interests of a minority who can exercise block votes over the interests of the majority.”
This is why the dormitory problem has not been properly resolved until now.
Thinking about it, it’s unbelievable. Universities are not charities, and where would they get the money to build dormitories? It’s obviously tuition fees collected from students.
In other words, university students cannot even build living spaces for themselves with the money they paid. Because the rental income of studio apartment owners should not decrease.
Ellie said angrily.
“This is ridiculous. How is this different from saying we shouldn’t release hostages because it will hurt the livelihood of the hostage-takers?”
I nodded.
“That’s why I’m going to try to do it.”
***
OTK Company bought up detached houses and land around universities, and contacted construction companies.
Currently, the biggest interest of construction companies worldwide is the San Francisco restoration project. Kang Jin-hoo not only saved America from a crisis but also handed over a huge amount of relief supplies and raw materials to the US government. In addition, subsidiary ArcIT is scheduled to bid for urban design.
One way or another, it was clear that OTK Company would take a place in the restoration project. Because of this, domestic construction companies have been trying to get in line with Kang Jin-hoo.
However, OTK Company’s business was biased towards IT and automobiles, with almost no contact with construction, which made them anxious.
But for the first time, a request for cooperation had come in.
To even make an impression this time, they were ready to create land out of thin air if necessary. Construction companies were in an uproar.
“Check all land near universities.”
“Which of the executives owns land nearby?”
“I’ve got information that Daehu Construction is willing to put out land near the back gate of Korea University!”
“What? Damn it! Isn’t there any bigger, more beautiful land?”
“To make a real impression, we have to bring better land than any other construction company, no matter what!”
Construction company presidents personally brought documents and visited OTK Company. They proudly presented the land they had brought.
When Kang Jin-hoo said he would buy the land at a price higher than the market price, they all waved their hands.
“What are you saying? We will offer it at a lower price than the market price.”
“We, Eunsung Construction, should also lend a hand in doing good work.”
“It would be embezzlement to sell it for less than the purchase price, so we are just sorry that we cannot offer it at a lower price.”
“We will also offer construction at the lowest price.”
“Just leave it to us.”
***
Team Leader Jung Gi-hong of the Public Relations Team announced a plan to build dormitories in 42 locations nationwide and rent them to students at low rents.
When the dormitory candidate sites were announced, students welcomed them with open arms.
– Is it real? OTK Company is building dormitories?
– Yes! My school is included too!
– Yeah, yeah. They made money from oil futures this time, they should do good deeds too.
– But if they build now, when will it be completed?
– Will it be built while I’m still in school?
– I’m going to the military soon, I hope it will be all built when I get back after discharge.
– I want it to be built quickly so I can escape my semi-basement.
– Semi-basement is still good, I’m in a complete basement ㅜㅜ I live with two others to save money.
– That’s still good. I’ve been living in a goshiwon without windows for 8 months. I overcame my claustrophobia because I have no money.
However, the supporting public opinion was soon buried by opposing public opinion.
No sooner had the press release been issued than studio apartment owners rose up in arms. Not only that, but even residents who were not related to the rental business expressed opposition.
– If big university students drink and loiter around at night, what will happen to the neighborhood atmosphere?
– University students these days are so scary.
– That’s right. They don’t listen to adults.
– There’s an elementary school in front of here, and if university students smoke or engage in PDA, it’s not good for the children’s health, and it’s not good to see.
– Our neighborhood doesn’t have a playground. Please build a playground.
– If you’re going to build something, you should build facilities that are helpful to residents, like parks or libraries.
– Anyway, dormitories are absolutely not allowed!
– Instead of this, let’s residents unite and file complaints with the district office and city hall!
***
Seoul is a megacity with a population of over 10 million.
And the Mayor of Seoul is the head responsible for the administration of that huge city. Considering the authority and political influence he wields, it is no exaggeration to say that he is second only to the President.
How else would the term ‘Little President’ have come about?
The Mayor of Seoul can be re-elected up to three times. Mayor Won Sang-hoon, who succeeded in his third term this time, was on his last term.
The Mayor of Seoul position is like a shortcut to the presidential election, and he was considered a strong next presidential candidate for the New Politics Party.
His evaluation of city administration was not bad. There were no particularly great achievements, but there were no mistakes either.
The ruling party’s approval rating is solid, and the opposition party is in disarray. If this atmosphere continues until the next presidential election, wouldn’t it be possible to aim for the presidency as well?
Mayor Won Sang-hoon focused on managing and avoiding causing problems during his remaining term. But suddenly, OTK Company came forward to build dormitories, causing a huge controversy.
Kang Jin-hoo has less business foundation in Korea compared to domestic conglomerates, and no connections with the political world. However, he wields greater influence than anyone else.
The world’s richest man, a hero who saved America from a crisis. He is confirmed to receive the Nobel Peace Prize, and it is no exaggeration to say that the future of the automobile industry is in his hands. Moreover, he has a close relationship with the US President. Which Korean businessman or politician can have a private meeting with the US President?
If he had said he would build dormitories in one or two places, he would not have taken any special action even if some residents protested.
But the announced candidate sites in Seoul alone are 19!
At this rate, it includes the entire Seoul area. City Hall was flooded with complaints to the point that business was paralyzed. Local residents all opposed it, and studio apartment owners flocked to City Hall and protested.
“Is it even possible for OTK Company to enter the rental business?”
“How are ordinary people like us who make a living day by day by renting out studio apartments supposed to live?”
“Isn’t this just telling us to just die?”
“Stop infringing on the property rights of ordinary people!”
“Seoul City should come up with countermeasures!”
Mayor Won Sang-hoon had no intention of clashing with Kang Jin-hoo at all. However, it was also difficult to remain silent in a situation where public opposition was boiling over.
Several district heads came to visit with district council members.
“No, even if you build dormitories, you should do it slowly, one or two places at a time, while watching public opinion. What is this?”
“There are as many as three in our district alone! No matter how many universities there are in our district, isn’t this too much?”
“Local public opinion is very bad.”
“Local residents are all opposed to the dormitories coming in.”
“District office business is paralyzed now due to resident protests.”
“What about the next election?”
“Shouldn’t the Mayor also think about the next election?”
If he stays still like this, he doesn’t know how many votes will fly away. He had to at least pretend to respond.
Mayor Won Sang-hoon held a meeting with representatives of studio apartment owners and then announced the official position of Seoul City.
“Seoul City will request cooperation from OTK Company so that dormitory construction can proceed by collecting opinions from residents.”
***
Studio apartment owners also flocked to the front of headquarters and staged a protest. They even put up a banner written in red, ‘Conglomerate Kang Jin-hoo, stop killing ordinary people!’
They seemed to be heavily emphasizing that I am a conglomerate and they are ordinary people.
X-Cop, which is responsible for building management and security, closed the main gate and deployed more personnel in preparation for possible clashes. Employees entered and exited through the back door.
After seeing Seoul City’s announcement through the news, I snorted.
“‘Collecting resident opinions,’ my foot.”
“Isn’t that the same as saying ‘don’t do it’?”
“It’s the same thing.”
What’s the point of collecting opinions when everyone opposes it?
I expected studio apartment owners to oppose it, but I didn’t expect Seoul City to chime in as well.
I stepped forward myself and announced my position.
“It’s not like I’m asking to increase the floor area ratio, or asking the local government for support. It’s my land and my money, and I’m going to build it myself, so what’s not to be done? I’m just going to proceed.”
