Dear Comrade

Dear Comrade Leader Episode 165

Chapter 59. OPEC

“Fund… … Where are you talking?”

I’m sure I know all the places. When Jeonghwan asked with a ”, Bezos seemed to hesitate for a moment, and then opened his mouth.

“The Royal Abdul Aziz Fund.”

“If you hear the name, it is from the Middle East. Let’s see… … As far as I know, I heard that Saudi Arabia is looking for a strategy to diversify its investments other than oil because its alliance with the US has become unstable these days due to low oil prices… … President Choi?”

When Jeonghwan’s words fell off, Choi Seungil, who had his face hardened in embarrassment at the unexpected situation, quickly answered.

“Your guess is correct, Comrade General Secretary. The company in charge of the management is located in the United States, but the fund was mainly recruited from Saudi and Kuwait and other Middle Eastern royalty, so it got its name. From what I’ve heard, it was launched a while ago and mainly invests in alternative energy and IT… … .”

Ah, come to think of it, now is the third boom period.

It was then that Jung Hwan remembered that he had not paid much attention to how the Middle East was going since the Gulf War, as he only cared about relations with the US and China.

The present Middle East was slowly entering a period of political and economic transformation, so to speak.

With North Korea becoming an oil-producing state and improving relations with the United States, the reason for the United States’ obsession with the Middle East has greatly diminished. did.

In addition, as in the original history, the low oil price trend that has continued since the 1980s has increased worldwide production with the joining of a new oil producing country, North Korea, and the price drop has become even more severe.

So Saudi Arabia, which had reigned as the dominant force in the Middle East with oil money power, also caught fire.

Unlike a country that is inclined to Islam like Iran, a secularized monarchy runs the government.

In the first place, the relationship with the United States, which was based on democracy as a tyrannical monarchy, had to be extremely unstable, so Saudi Arabia’s monarchy, the Saud dynasty, had to accept changes to protect its power.

The appearance of the Abdul Aziz Fund and the move of the Saud royal family to invest in new businesses with the money earned from oil money will also be part of their struggle to accept the changes of the times.

‘It must be said that the transformation of Saudi Arabia, which had to come with shale gas, came a little earlier. But as far as I know, the real power in Saudi Arabia and the largest shareholder of the Royal Abdul Aziz Fund is… … .’

“Mr Bezos. Has the investment not been executed in that fund yet? Am I wrong?”

“It is, but… … .”

“Then it is said that it is still possible to cancel the investment contract. Interestingly, both the Abdul Aziz Fund and our Peony Holdings are state-owned companies based on oil money, and we will invest twice in our republic where we invested some in them. How is it?”

“… … ! It’s a very grateful suggestion, but it’s not an easy thing to say. Actually, from my point of view, it is most beneficial to receive an investment from both sides… … .”

“Ah, but there is a condition. Instead of promising to double the amount promised by the Abdul Aziz Fund, the majority of voting rights should be exercised by us.”

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Not only Jeff Bezos, who had a difficult expression on his face at Junghwan’s sudden declaration, but also Seungil Choi, who was watching from the side, changed his face.

The difference was that Jeff Bezos had a subtle expression of half joy and half surprise at the sudden pouring of investment proposals, but in Choi Seung-il’s case, ‘Why are you suddenly so overpowered?’ It was close to astonishment.

Soon Bezos calmed his astonishment and returned to the calm, calculating businessman’s expression, cautiously speaking.

“… … Are you saying that I have to choose between the two places to invest now? First of all, I don’t know why the general secretary is so reluctant to invest in the Saudi sovereign wealth fund, but I think this is… … .”

Bezos paused for a moment and stopped speaking, but Junghwan knew exactly what he was trying to say.

“You might want to say, “The tyranny of money. But think about it. Mr. Bezos. My actions may feel like tyranny right now, but given the long-term vision of the company Amazon, which one do you think is better to invest in, the Saud family or us?”

“What are you talking about, I… … .”

“Mr. Bezos, how much does the country of Saudi Arabia and its tyrannical monarchy really understand the value and potential of Internet commerce or IT technology? No, how many people in Saudi Arabia do you think will have free internet access? Would you like to hand over shares of Amazon.com to a dynasty in a country that believes that the world should be united under the values of Islamic law?”

The reason why Jeonghwan, who met unexpected difficulties in purchasing Amazon’s stock, goes out so hard, is that, first of all, Jeonghwan hates having other people take away what he has wished for.

It was also a specification to share the right to meddle in management even from a position of knowing the value of the future Amazon stock.

Second, there was a reason that it would be better for Amazon and Jeff Bezos to receive investment from Junghwan and Peony Holdings himself.

But Jeff Bezos put on a bewildered expression, showing the light he didn’t understand.

“… … Isn’t it the same as General Secretary North Korea’s censorship of internet access?”

“It is, but at least our republic teaches children to believe in what they see. Communism is based on materialism, and even after the introduction of the market economy system, the official position of the Workers’ Party of Korea that religion is the opium of the people has not changed.”

Junghwan’s comments about the Saud royal family’s wahhabiism and Islamic fundamentalism were not just absurd words to convince Jeff Bezos.

Although it is a distant future, in fact, the Saud royal family even tried to buy Facebook altogether to get the people to crack down on it.

Of course, media control, Jeonghwan was not in a position to tell anyone, and in fact, Jeonghwan didn’t want to care at all whether the Saud royal family raised their people as full pigs or not.

However, according to the future he knows, Amazon.com will become one of the greatest assets of Peony Holdings and the Democratic People’s Republic of Korea. .

… … Other than that, I also wanted to avoid discussing the management of Amazon.com, which would later become one of the world’s largest companies by market capitalization, with such an outdated and outdated group.

As Jeonghwan spurred conciliation, Bezos frowned and seemed to be in conflict.

“I think it would be a bit of an overstatement to say that just because an investor believes in Islam, it will also affect the management of our Amazon.com… … My guess is that your prince probably just got a recommendation from the fund manager and decided to invest in us… … .”

“Then it wouldn’t be even worse. Now that Amazon is a small company and you are thirsty for investment right now, you will want to get any money. However, being an investor who can share values and vision is an important factor in the growth of the company. What do you think Bill Gates and Masayoshi Son would have seen in this republic, giving the opening speeches at today’s event?”

“… … .”

“Now that you have come to this Futurenet fair and saw it, I believe you will know. Although it started late, in this North Korea, talents and companies are growing who seriously believe that all human activities in virtual space can replace those of reality in the future and even now. I am one of them.”

“… … You said earlier that it is obviously twice the amount invested in the Royal Abdul Aziz Fund.

I’m over.

Jeonghwan realizes that things have been accomplished and pushes a wedge to shake off Bezos’s last remaining hesitation.

“of course. If you wish, I can cut off the check by speaking to President Choi here, right here, under the authority of the Chairman of the Board of Directors of Peony Holdings.”

“The investment amount decided by the Abdul Aziz Fund is $15 million. That double. Thirty million dollars. really… … .”

“President Choi, comrade. I will pay you.”

“Here it is. You can even write the contract right here right now.”

“… … !”

Bezos’ eyes widened as he was handed a huge sum of thirty million dollars right in front of his eyes even after he had said it.

He swallowed his saliva for a moment and looked at Jeonghwan in disbelief, then muttered as he took the check and took it.

“You’re definitely different from those old-fashioned money-players from Lehman Brothers. I will never forget the trust you showed us in this era of new dot-com companies being created every day.”

“I also believe in Mr. Bezos. You asked for voting rights, but the management will only believe in your vision and abilities, so don’t worry about money and just focus on expanding the territory of the Amazon.”

“My God, you are so familiar with financial capitalism that it is unbelievable that you are the leader of a country that was not long ago communist. And I don’t care, but I’m sure there will be diplomatic protests from the Saudi royal family. The problem is… … .”

In the future, if you want to get a stake in a company with the largest market capitalization in the world, you will have to suffer like this.

When Jeff Bezos spoke as if he was in trouble, Junghwan waved his hand as if he had expected it, giving him the answer he was hoping to hear.

“Don’t mind Mr. Bezos, we’ll take care of that. If there is any question of responsibility, you can pass all the responsibility on to us.”

“… … Are you serious?”

“of course.”

At that time, Seungil Choi, who was next to him, made a slightly uncomfortable coughing sound, but Junghwan pretended not to hear and reached out to Jeff Bezos to shake hands.

“I just paid the investment in cash, so it’s a light bonus… … Can I ask for one outside of business?”

“… … ? you just speak If it’s something I can listen to… … .”

“I would like Amazon.com to participate in this Futurenet Pyongyang Fair every year. As the organizer of this fair, my goal is to grow it into an exhibition that surpasses Computex Taipei within 10 years. No, if it goes public, it would be okay to hold a general shareholders’ meeting in Pyongyang. haha.”

* * *

“… … are you okay? Comrade general secretary?”

“Comrade Choi seems to be dissatisfied with something. Confess it.”

After introducing Jeff Bezos to Bill Gates and Masayoshi Son, when the two were left alone, Junghwan asked Seungil Choi as if it was a question he expected.

From his point of view, who still has many Amazon and only one of many US dot-com companies, he must have been unable to understand why Jeong-hwan would invest in Amazon at the risk of diplomatic risk.

And Jeonghwan’s prediction was correct.

“Until now, I am well aware that Comrade General Secretary Choi Seung-il’s mysterious foreign currency earning skills are not at the level that Choi Seung-il dares to touch. But isn’t this bringing the economy into the realm of politics? … Of course, the decision is made by the general secretary, but… … .”

“The economy and politics will get closer in the future, Comrade Choi. Maybe 20 years from now, the two will be inseparable. The more our republic tries to become part of the world trade system, the faster it will become.”

“Even if we do not have diplomatic relations with Saudi Arabia, the highest dignities show up in person and pretend to be with the Saudi royal family in order to buy only one large and many Internet marketplace companies… … Wouldn’t it be okay to bring other Politburo comrades to this?”

“Trust me, comrade Choi. The day will come when you will be proud to say that this deal was the best investment since the founding of Peony Holdings. And when that time comes, will you feel that there was nothing to offend some of the Middle Eastern royalty?”

Jeonghwan was well aware that oil will rule the world for the next 10 years, but the Internet will rule the world for the next 10 years.

However, the importance of oil-producing countries is highly regarded as there are many people who believe that there is only 30 years left of oil, and that World War III will occur when it runs out.

If the hydraulic fracturing method is developed, it will become a thing of the past in an instant.

However, one thing Jeong Hwan underestimated was that the importance of North Korea to Saudi Arabia, which had not established diplomatic relations since its founding, had changed significantly in recent years.

Five days after that, on the day the successful Future Net Pyongyang held in five days ended, Abdullah bin Abdulaziz Al Saud, the de facto ruler of the Saudi royal family and the largest investor in the Royal Abdul Aziz Fund, called Jung Hwan directly.

* * *

“You said my fund hijacked the company that had been preempted first, General Secretary. The manager said he didn’t expect to pay 30 million dollars in cash, but North Korea seems to be changing.”

“Oh, I’m sorry it happened unintentionally. Crown Prince. We, North Korea, have recently become an oil-producing country and are not as wealthy as Saudi Arabia.

At the exotic accent of English that was transmitted over the phone in the secretary’s office, Jeonghwan picked up the words he put out of his mouth and served them.

Crown Prince Abdullah, he knows, is the half-brother of the current King of Saudi Arabia, who became the de facto ruler of Saudi Arabia after the current king suffered a stroke last year.

Crown Prince Abdul and Prime Minister seemed to be swayed by Jeonghwan’s words, who thought that there was nothing good to offend, although the country does not have much diplomatic relations other than that it is an oil-producing country that uses the same pro-US strategy.

“Hmm, in the first place, the investment decision is the fund manager’s job, and for dot-com companies like Amazon, it will happen again after one night of sleep, so I’ll let this happen to me. Tolerance is also a virtue of Allah. However, the reason I called you like this is because of this, can I take this opportunity to propose a partnership to General Secretary Kim?”

“… … Let me tell you.”

“It has been several years since North Korea became an oil producing country. Then it wouldn’t be a bad idea to get acquainted with the friends who came together to protect the divine blessings Allah has bestowed on their respective lands. This phone call is, so to speak, an informal contact between the leaders, but since that party, Saudi Arabia, and one person exercise all the decision-making power, would it be okay to offer this subscription like this?”

Only then did Jung-hwan know the real reason Abdullah made this call.

It wasn’t about investing in Amazon, but about a much more important issue.

“So the Crown Prince wants our North Korea to join the Organization of the Petroleum Exporting Countries (OPEC).”

“That’s right. It is a place where countries unite to defend their rights from all foreign powers, including the oil-hungry West. If North Korea joins, it will become the second Asian member state after Indonesia.”

Junghwan thought that it was a condition worth considering.

OPEC, which is being called the world’s largest cartel, will also help to strengthen the diplomatic position of North Korea, which has not yet had a clear influence on the international stage, and will not create a particularly hostile country.

For Korea, where the memory of the oil shock led by OPEC is still vivid, just joining it may be scary.

But again, this proposal of Crown Prince Abdul came with conditions.

“However, there are conditions.”

“… … What condition are you talking about?”

“As you know, these days, global oil prices are low. In retrospect, the reason why we, Saudi Arabia, should have a more active relationship with companies run by pagans is that the return of your country, a new oil-producing country, has greatly contributed to the increase in global production. In other words, the world is producing too much oil right now. That is not very welcome for our Saudi Arabia, the founding country of OPEC.”

“… … .”

It was then that Jeonghwan understood what Crown Prince Abdullah was trying to say.

This was, in a word, an offer of collusion.

“In order for North Korea to become an OPEC member, we must cooperate to increase its influence at the level of exporting country organizations. The voices of individual member countries must be taught how precious petroleum is. So, general secretary. How about adjusting your country’s oil production to about half of what it is now? If that’s the case, we can think that North Korea deserves to be a member of the country to seriously discuss oil prices with us.”