Money Keeps Piling Up No Matter How Much I Spend

Chapter 118

Translator: DreamscribeThey were keeping Levant in check as it tried to expand its influence with Beirut as its base.

“About 30 billion dollars. That’s the amount they mentioned.”

“Are they crazy? Even if that becomes a major base, still, burning through 30 billion dollars?”

In fact, the company called Levant wasn’t even part of the original plan.

But the Middle Eastern countries had witnessed it with their own eyes.

How a single shipping company born in a small country like Korea had conquered the seas and come to dominate the world.

That’s exactly where they got their inspiration from.

If the Middle East was to become the center of the world, they couldn’t just rely on oil, they needed to dominate the sea routes as well.

And that’s how the company Levant came into being, backed by oil money.

To dominate both oil and the sea simultaneously.

“What? How much?”

But could it be that Kwangwoon had also figured that out?

Levant’s CEO, Khalid Al Hasan, established the company with funds raised through a sovereign wealth fund. And just as originally planned, after steadily absorbing nearby shipping companies, they had now reached the stage of acquiring the Beirut port operating rights.

If they could take control of Beirut, then not only the Middle East but also other continents could be sequentially dominated.

But Kwangwoon was getting in the way in a big way.

A whole 30 billion dollars!

“Anyone can see they’re just being a pain.”

Lebanon must have thought this was a windfall too.

Those guys deliberately pitted Levant and Kwangwoon against each other to drive up the price.

So they were trying to settle around 10 billion dollars after some back-and-forth, but Kwangwoon just straight up offered 30 billion dollars.

“They’re not really trying to get the port rights with 30 billion dollars, but trying to harm us, right?”

“Yeah. Do you think those guys are crazy enough to pour 30 billion dollars into a port project?”

It was obvious to anyone what their intention behind it was.

“But we also have to consider the opposite situation. What if they really did offer 30 billion dollars to secure the port rights? For Levant to grow globally, the Beirut port project is essential. Kwangwoon would definitely know that too.”

“So they’re trying to suppress us before we even get a chance to stretch?”

“Yes. The opponent is Kwangwoon, who has already once dominated the seas. They know exactly where the key points are and how much influence can be expanded from there.”

In other words, they were making a massive offer from the start to prevent any attempt at entering the shipping competition.

“If we try to accept this, the higher-ups will say we’ve lost our minds, right?”

“But don’t you think the higher-ups will end up telling us to accept it anyway?”

Even the great investors might be shocked at first, but they’ll eventually realize they have no choice but to accept it.

“Whew, they really are vicious bastards. Trying to squeeze us like this.”

“Kwangwoon is famous for this, aren’t they? There are tons of conspiracy theories about them. Some even say the COVID-19 outbreak wasn’t a coincidence. Since Kwangwoon bought up a bunch of vaccine companies before COVID hit, and now they’re the top supplier.”

There are truly many conspiracy theories about Kwangwoon.

One of them is about the coronavirus.

Before this pandemic broke out, those guys suspiciously bought vaccine companies, and through their research, they’ve now become the company that every nation is desperately relying on.

Khalid fell into contemplation.

Was this a bluff, or were they really trying to take it with 30 billion dollars?

“Why the hell are we letting those guys off the hook? Shouldn’t we investigate them and dig up everything? What if they really spread COVID and are now profiting off vaccines?”

“Even if that were true, there’s nothing we can do right now. Kwangwoon has the vaccines. And even if everyone gets vaccinated, mutations will definitely occur, so considering the need for booster shots, we won’t be able to touch Kwangwoon for years.”

They really were nasty.

***

Well, hadn’t they risen from that tiny country to a position where they shook the global economy?

“What should we do? If we don’t propose a higher bid within today, the operating rights will go to them.”

“So, how did it go?”

“Yes, Levant……”

The reporting employee paused for a moment before continuing.

“They accepted. They called out a slightly higher price than the 30 billion dollars we initially offered.”

If the other side was bluffing, they would give up on the bid without putting down 30 billion dollars.

Kim Doo-young slammed the table.

But what if it wasn’t a bluff and it was real?

Then the operating rights would go to Kwangwoon, and Levant would lose an important strategic base. And it would be Kwangwoon that ends up dominating the seas.

In fact, Kwangwoon had given Levant a forced choice between two difficult options.

“Tsk. These nasty bastards.”

There was only one choice Khalid could make.

“That’s right.”

“Whew.”

The executives let out sighs of relief.

They had staked 30 billion dollars, but it wasn’t really to buy the port operating rights.

It was a kind of bluff, and Levant had fallen for it.

“But... is this really something to be happy about?”

“Yeah. In the end, we let the opponent take a truly important strategic point, didn’t we?”

However, losing the Beirut port was a painful blow.

Starting from that base, Levant would now achieve explosive growth.

“Our goal was just one, wasn’t it? Not to acquire the port operating rights, but to push Levant into spending as much money as possible.”

“Yes. From what I’ve found out, if we had called out 30 billion dollars or more, they were planning to give up. The funds supporting that company probably agonized over it too, and finally decided to put up 30 billion dollars.”

“Really? I’ve never seen the faces of those guys over there, but I bet they’re grinding their teeth at us.”

“Yes, if the negotiations had gone well, they could’ve gotten the port rights for less than 10 billion dollars, but they ended up making an enormous expenditure of 30 billion dollars, so they probably want to chew us up.”

The fact that they had landed a proper blow on those bastards was satisfying, but at the same time, it brought worry.

Just how much would Levant grow from this point on?

Honestly, it was a bit frightening.

In other words, it wasn’t a company that lacked funds.

If they really wanted the Beirut port, they would have gathered funds from everywhere else.

The fact that they hadn’t done so meant that the Beirut port didn’t hold that much value.

“Whatever the case, until CEO Jung gives us new instructions, we have to lead this company well. So those Middle Eastern bastards can’t even dare to chase our coattails. CEO Jung didn’t cast us out and let us stay with the company until now. Shouldn’t we repay that kindness?”

At those words, the executives nodded with determined expressions.

“Alright then, back to work. Keep a close eye on Levant’s movements.”

“Yes, sir!”

“But don’t you think CEO Jung Jin-ho might have something else in mind, seeing how he stirred things up and then gave up on Beirut?”

“Well, who could possibly guess what CEO Jung is thinking? But it does seem like he has another plan.”

After sending the executives away, Kim Doo-young let out a short breath.

Beirut… it really is a regrettable strategic point.

But seeing how Jung Jin-ho sabotaged things and didn’t take it for himself, it’s clear he has another plan.

Kwangwoon has begun supplying vaccines globally, and from KW Exchange to its other affiliates, there’s not a single place taking losses.

Just what could it be?

***

“CEO-nim, this is really…”

The employees, staring at the wildly swinging charts, couldn’t finish their sentence.

Then Department Head Seo suddenly stood up and shouted.

It must be hell for the traders dealing with futures.

Until the futures expiry date, since no one was buying the oil, they had to take care of it all themselves.

“Ma, minus 10 dollars breakthrough!!”

But how could traders living in ordinary homes possibly receive and store all that crude oil?

“Ah, I-I’m sorry. I said that without thinking.”

“No, it’s fine. It’s definitely something worth being shocked about.”

Even though oil prices had hit rock bottom before, never in history had they recorded a negative.

But today, WTI hit minus 10 dollars. It was an unprecedented, shockingly panicked situation.

“Who would’ve thought Saudi Arabia and Russia would get into such a pride-fueled fight?”

Saudi and Russia probably expected oil prices to fall somewhat after the production cut agreement collapsed. But they couldn’t have imagined it would drop all the way to minus 10 dollars.

It wasn’t just traders. Even regular people were in a panic.

These days, there are companies that take care of crude oil for a set fee, but all of those companies had shut down now.

Because due to the coronavirus, crude oil consumption had dropped to record lows, and even they had nowhere to store all that oil. Even if they did, the storage rental cost was far more expensive.

“The shipping side is asking whether we should accept this or not. What should we do?”

It wasn’t like they were getting the oil for free.

On the contrary, they had to accept the oil with money on top.

At 10 dollars per barrel!

“What does everyone think?”

“With this level of shock, don’t you think Saudi and Russia will be startled and come back to a production cut agreement?”

“I think so too. There are already rumors that the two countries are trying to renegotiate.”

“So minus 10 dollars is the lowest point?”

“I think so.”

“Me too. It might drop a little more from here, but I think it will hover around the 10-dollar mark and then rebound. No country would just sit back and watch negative oil prices.”

I didn’t think it would fall any further either.

But that was just my opinion.

I quietly brought my hand to the chart.

“Tell them not to buy for now and to wait a little longer.”

“Oh. Do you think it’ll drop more from here, ceo-nim?”

“Yes. Saudi and Russia, both have temperaments. Neither will back down easily. They’re people who care more about pride than money.”

But if my gut feeling was right and it really fell to the bottom, wouldn’t they throw away their pride and come to a production cut agreement then? Before that happens, we’d scoop up the oil at the lowest point.

“Oh. And as for the Beirut port, Levant has acquired the operating rights. They offered just a little more than the amount we initially proposed.”

“Is that so?”

“Yes. So Kwangwoon Shipping is also preparing for the situation ahead. Although Levant made a huge expenditure of 30 billion dollars this time, they’ve got oil money, and they’ll gradually expand their business from there.”

..!

At that moment, the previously stable chart suddenly moved by itself, drilling down through the underground and reaching even deeper.

What could that possibly mean?

That Saudi and Russia, clinging to their pride, would keep delaying the production cut agreement, and as a result, oil prices would crash even further from here.

To counter that, Kwangwoon Shipping seemed to be trying to speed up their ongoing negotiations to acquire shipping companies.

“They’re buying for a slightly higher price than initially planned. If the negotiation drags on here, Levant might snatch them away. In fact, many shipping companies are currently weighing Kwangwoon and Levant, trying to decide who to sell to.”

Originally, Kwangwoon Shipping’s plan was to slowly let the troubled shipping companies dry out and die, then sweep them up at bottom prices.

But with Levant’s emergence, the landscape of shipping had changed, and it was no longer a time when we could afford to take it easy.

“It’s fine. And as for the acquisition process, tell them not to push too hard and to maintain the current pace.”

“Ah… yes. Are you really sure you’re okay, ceo-nim?”

“Yes. I really am, so don’t worry.”

Cold sweat ran down in streams, and the employees jumped up in shock.

“C-CEO-nim, are you okay!?”

“…Ah.”

I let out a trembling breath and fortunately managed to regain my composure.

But that terrifying sensation still seemed to linger throughout my body.

Beirut, huh.

Did I make a mistake letting that place go?

Just in case, I opened the report on the Beirut port once more.

But the moment I opened the first page, that same sensation returned.

Just what on earth is going to happen there to make me feel this way?

“!?”

A loud roar stormed through my ears, and my body was overwhelmed by something massive and became completely paralyzed.

***

“Congratulations, CEO-nim.”

“What congratulations? We just blew 30 billion dollars.”

“But with this, Levant will go on to dominate the seas of not only the Middle East but the entire world.”

It did sting a little.

Beirut was indeed an essential strategic point for Levant’s ambitions, but 30 billion dollars was a spending that far exceeded expectations.

“All we did was make those Lebanese bastards rich.”

“What can you do? Kwangwoon wasn’t going to back down easily.”

“So in the end, those bastards were bluffing?”

“Yes, they completely disrupted us on purpose. But we can pay them back later. Once Levant grows strong, we’ll crush Kwangwoon Shipping underfoot.”

Right. That’s what we’ll do.

Even if it’s a 30 billion dollar loss now, one day this place will generate 300 billion dollars in profit.

Isn’t it written in the Quran?

Repay to the extent of what you have suffered.

Of course, it also teaches that forgiveness is greater than revenge.

But revenge against Kwangwoon, surely even Allah would understand that.

“So, what’s the status on the port side?”

“There are a few repairs needed, but overall, it looks fine. However, there is one thing that’s quite troublesome.”

“What is it?”

“Apparently, there are about 2,800 tons of ammonium nitrate stored in the Beirut warehouse.”

“Ammonium nitrate?”

“Yes. It’s a chemical used in fertilizer and explosives, and currently, a massive amount of it is tied up in Beirut.”

Khalid furrowed his brow.

“Why on earth is that stored there?”

“Years ago, a ship headed for Mozambique was seized by the Lebanese court, and the ammonium nitrate on board was all stored at the Beirut port. That was already six years ago.”

“So the Lebanese government didn’t take any action for six years?”

“Yes. The company went bankrupt and disappeared, and the Lebanese government just left it there. Maybe they didn’t know how to deal with it, or maybe they gave up thinking about it.”

Even so, storing something that dangerous in a warehouse for six years? What irresponsible bastards.

“But considering that no accidents happened in those six years, doesn’t that mean it’s safe? The warehouse is also located far away.”

“Well… that’s true. But we can’t just leave it there forever. We’ll need the warehouse for other uses soon, so look into how we can get it cleared out quickly.”

“Yes. I’ll discuss it with the Lebanese government.”

It was a massive expenditure of 30 billion dollars, but they had successfully acquired the Beirut port.

This was only the beginning.

The 2,800 tons of ammonium nitrate was a bit of a concern, but the place had been perfectly fine for six years.

Would such a place suddenly become a problem?