The Famous Millionaire


Chapter 285 - Chapter 279

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Chapter 285: Chapter 279

At the office of STM President, Hyunwoo and Duyoung welcomed an important client. Chairman Konho Ahn of Ohsung Group visited the office in person.

He visited the office to discuss Super Green. Though Ohsung Group purchased a month’s worth of Super Green, that was far from satisfactory from the viewpoint of Konho who was full of desire to start an oil refinery business.

After brief exchanges of greetings, he got to the point.

“Instead of selling Super Green on a monthly basis, why don’t you sign a multi-year contract with us? Let me pay appropriately for it.”

Though his lower body was paralyzed, Duyoung was more than excited to hear Konho’s remarks.

Duyoung thought the biggest risk to STM was the bullying tactics of the existing large companies like Singyoung. They actually blocked the entry of new oil companies by abusing their connections with politicians.

In such a situation, Ohsung reached out to STM. If STM joined hands with Ohsung, Singyoung could not do anything damaging to STM no matter how powerful it was.

In fact, Ohsung won the auction of Super Green by writing down a much higher bidding price than Singyoung. Singyoung bidded 1,120 won, but Ohsung wrote down 1, 210 won.

Comparing it with the cost, Ohsung’s bidding price was 310 won higher, twice more than what Hyunwoo hoped for.

Of course, STM’s revenues for the first month would not be big enough. As its monthly production capacity was only one million liters, the net profits would be less than 100 million won when all the expenses were deducted.

But this was just the beginning.

The first factory in Daesan Port was just for the purpose of testing. Namely, it was built to find out whether the refining effects of gasoline as seen in the lab could be confirmed at the factory.

As they confirmed not only the real refining effects of gasoline but also the high selling price of Super Green, Hyunwoo and Duyoung would raise the production capacity of the factory and build a second and third factory to produce Super Green in large quantities.

By next year, they expected the monthly production would be increased by tenfold, and it would become 100 million liters five years later.

That was not all.

Hyunwoo was determined to produce Super Green overseas. In particular, America, Japan, and Europe would be STM’s main production base as there was a huge demand for gasoline there.

If Hyunwoo’s prediction came true, STM’s monthly production of Super Green five years later will be one billion liters, which will generate 2 trillion won per month with at the revenue rate of 200 won per liter.

But STM didn’t just produce Super Green. The dross of microorganisms produced as side-products in the process of refining gasoline was also its fine product.

It didn’t flex freely like fibers, but it had a tensile force. When Duyoung first experimented it, he expected it was about 350M / m3, which is similar to a spider’s web. But when he tested it again, it was 420MJ/m3.

So, Duyoung named it ‘Toughtex’ in the sense that it was a tough texture.

Toughtex was also resistant to heat, so it was also widely used as special materials for elevator construction and shipbuilding. Though Hyunwoo didn’t think about its monthly production yet, he already received a huge number of preorders from construction companies and shipbuilders.

As the unit price was good, Hyunwoo felt the production of microorganism dross could generate lots of revenues as the additional income source of Super Green.

In that respect, there was no reason for him to reject Konho’s proposal for a multi-year contract with Ohsung.

But Hyunwoo was a bit worried because he also wanted direct retail sales to general consumers.

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Konho also seemed to have read his mind.

“Well, it looks like you want to deal directly with gas stations, but I don’t think that’s a good idea.”

Hyunwoo felt a sting in the heart momentarily.

But he had no reason to hide his plan. STM’s direct dealings with gas stations were not to be blamed anyway.

Hyunwoo asked bluntly, “Why do you think so?”

“Because neither STM nor retailers would get much from such dealings. I don’t mean to say Ohsung Group would make huge profits by selling Super Green right away. We’re just diversifying our business now.”

Hyunwoo agreed with that. When the business was going well, Ohsung generated more than 30 trillion won in net profits. Though Ohsung could generate more profits by selling Super Green, it could not put all its eggs in one basket called Super Green.

But Hyunwoo couldn’t understand one thing he mentioned.

“I don’t understand what you mean by not many benefits to consumers.”

“As you know, Super Green is super-premium gasoline. Typical gasoline is sold at 1,400 won, and premium at 1,900 won, which is a difference of 500 won. Despite that, premium is selling well. Do you know the reason?”

Most likely it is because those customers who preferred premium.

When Hyunwoo thought as far as that, he felt why Konho was mentioning that.

Konho continued as if to confirm his educated guess.

“I’m going to sell Super Green at a much higher than premium gasoline. I’m sure Super Green will be the monopoly of the rich. They won’t care even if we get a little more profits from Super Green.”

*** You are reading on ***

Hyunwoo nodded, but at the same time wondered.


*** You are reading on ***