At the ntion of Nampo City, Jang Songthaek’s eyes twitched.
He quickly composed himself, as if trying not to show it—but I noticed.
Forcing a smile, Jang Songthaek lifted the teapot and poured tea into my cup as he spoke.
“Haha, Chairman Kim Muhyuk. Let’s talk about sothing else first. We have plenty of ti.”
He was clearly changing the subject. His reluctance to discuss Nampo City was obvious.
How irritating. I smoothly curled my lips into a smile and didn’t let up the pressure.
“Have you changed your mind? I don’t think I’m making an unreasonable demand. I’m simply asking for the share that I rightfully deserve.”
Jang Songthaek’s lips moved slightly, but I continued without giving him room to respond.
“I know the saying—your mind changes between going to the restroom and coming back. People can be like that. But you, Vice Chairman, cannot afford to be.”
“Chairman Kim Muhyuk. Ceding Nampo City to an individual is a burden for at this mont. Perhaps after I’ve secured my footing a bit more. For now, it’s difficult.”
“Haha!”
I burst out laughing before I could stop myself, and Jang Songthaek’s brow furrowed.
The laughter faded quickly. I wiped the expression from my face and leaned back.
Crossing my legs, I looked straight at him.
“Nampo City is only my first demand. I invested in you, and I need to be compensated accordingly. But if things start like this...... how am I supposed to trust you?”
“Chairman Kim Muhyuk.”
Jang Songthaek called my na in a stiff voice.
“Is this what you’re thinking? That once North Korea abandons nuclear weapons and pursues openness, the United States, China, and Russia will welco it with open arms and pour in investnts? That you won’t need , and you can just deal with them directly?”
The mocking tone made him slam his hand on the table. His gaze was sharp.
“Chairman Kim Muhyuk. Mind your manners. ❖ Nоvеl𝚒ght ❖ (Exclusive on Nоvеl𝚒ght) What do you think you’re doing?”
He glared at , clearly offended, but I rely shrugged.
“I’m asking you to honor your promises. Don’t I have quite a lot of debt to collect from you?”
“......Wasn’t everything we did for mutual benefit? Are you calling that a debt?”
“Without , you wouldn’t even have been able to attempt this. The way you’re acting now makes it look like I invested everything, while you alone reap the rewards.”
I didn’t avert my gaze, tapping the table lightly with my finger.
“Here. I hold more than half the stake in making you the owner of this office. Don’t deny it. And I’ve also brought you a gift—the news that the border blockade is being lifted. When visiting Pyongyang, it’s only right to bring a gift of this magnitude.”
“Is that true?”
Jang Songthaek looked at with suspicion.
“You haven’t been inford yet? Yes. I spoke with both the Chinese and Russian governnts. Maintaining the border blockade was becoming a burden for them as well. I gave them a justification. By now, the blockade should already be lifted. Of course, due to UN sanctions, borders won’t be freely crossed just yet—legally, at least. Smuggling routes, however, are wide open. Even that alone should give you so breathing room.”
Hearing this, Jang Songthaek urgently pressed the intercom beside him.
Monts later, a man entered the office, saluted, and stood rigidly by the door.
Jang Songthaek gave him an order.
“Check the Chinese and Russian borders imdiately.”
“Understood, Vice Chairman.”
“Report back as soon as you confirm.”
The man left. I picked up the teacup in front of .
“A relationship without trust can’t continue. If I pull out of North Korea right now, I wonder whether everything you’re trying to do will still work.”
This was a feint on my part.
The United States, China, Russia—even Japan—would all rush to invest the mont North Korea opened up and safety was assured.
I could obstruct it, but I couldn’t stop the flow entirely.
North Korea’s transformation was sothing that hadn’t happened in my previous life.
I had fueled Jang Songthaek’s ambitions. He beca my puppet, drove Kim Jongil out, and rose to the very top of North Korea.
I didn’t know what kind of future this change would bring—but one thing was certain.
So would oppose it, but most would welco it and move to secure their own interests.
As I sipped my tea and gathered my thoughts, the man returned and whispered his report into Jang Songthaek’s ear.
Jang Songthaek nodded and gestured. The man saluted and left.
“As you said, the troops that had sealed the borders have pulled back.”
Jang Songthaek’s tone had grown noticeably more polite. I set my cup down and smiled.
“I ca bearing gifts. Yet you’re reluctant to give what I rightfully deserve.”
“No, that’s not it. There seems to be so misunderstanding—”
“No matter what you say, my resolve won’t change. Designate Nampo City as a special economic zone and grant the authority to develop it.”
Jang Songthaek hesitated, saying nothing.
I deliberately softened my voice, stoking his desire once more.
“If this succeeds properly, it will set a strong precedent for foreign investors. North Korea is not yet a country that can be fully trusted. But a South Korean businessman developing a special economic zone, building factories, and conducting business there—that alone would inspire trendous confidence.”
“But......”
“Lease it to us for fifty years. Dream High holds a significant amount of North Korean bonds. I’ll erase half of them. That alone is a major concession on my part. Of course, we’ll pay taxes properly.”
At the ntion of bonds, Jang Songthaek flinched. As Kim Jongil’s closest aide, he clearly knew about them.
“There’s a considerable amount of loans from various countries that you never repaid, isn’t there? The bonds held by Russia and China are beyond my reach—but I’ve acquired most of the bonds scattered among other countries. After China and Russia, Dream High holds the largest share of North Korean sovereign bonds. You’ll have to resolve this if you want to restore credibility in the international community.”
Jang Songthaek’s face went pale. Since declaring default in the 1980s, North Korea’s creditworthiness had collapsed.
“If you lease Nampo City to Dream High, I’ll erase half the bonds I hold. The remaining half—we can discuss later.”
“Those bonds......”
Jang Songthaek stamred, clearly shaken.
He hadn’t expected the bond issue to co up here.
I drove the point ho.
“Even considering how devastated the economy is by sanctions, restoring credit is essential. Without external credibility, the economic growth you envision will remain a fantasy. At least it’s fortunate that I’ve bought up most of those bonds, so you only need to negotiate with China and Russia.”
North Korea’s sovereign credit was now worse than that of many African states—effectively nonexistent.
Even after defaulting, they frequently failed to pay for trade whenever the opportunity arose.
“Are you truly saying that if Nampo City is leased for fifty years, you’ll erase half of Dream High’s bonds?”
“Yes. That should ease your burden. Credit is the foundation of capitalism, isn’t it? Without it, no matter how loudly you call for openness, no one will co to North Korea. China and Russia might—but you want Western investnt, don’t you?”
Jang Songthaek nodded.
“I don’t intend to rely solely on China and Russia anymore.”
“Exactly. Trade with China and Russia alone will never transform North Korea. Western investnt is essential. And I’ll be the one to demonstrate that first.”
China and Russia had tolerated North Korea defaulting on paynts for political reasons.
But even they had their limits. Now, without advance paynt, they refused to deliver goods.
They’d been burned too many tis.
“So what will you do?”
In response, Jang Songthaek asked,
“Does it have to be Nampo City?”
“Yes. It has to be Nampo City. There’s no better location geographically.”
“It’s too close to Pyongyang. Rapid change there could destabilize the regi.”
“If a country collapses that easily, then it deserves to.”
“Chairman Kim Muhyuk.”
Jang Songthaek called quietly. I t his gaze head-on.
“If you fear change, how are you any different from Kim Jongil? Controlling that change is your ability. The greatest threat to North Korea is no longer military power—it’s economic power. Even now, the jangmadang markets operate openly, yet you don’t shut them down. If you can’t control it, it’s better to release so pressure.”
“Hoo...... I understand your point. I’ll convene a eting and discuss it. But I can’t give you an answer right now.”
I raised three fingers.
“Three days. Give an answer within the three days we’ll be staying in Pyongyang.”
His talk of consultation was nonsense.
No one in Pyongyang would dare oppose Jang Songthaek openly right now.
They might grumble inwardly, but they couldn’t voice it.
“......Understood. I’ll give you an answer within three days.”
Only then did I smile brightly.
“Good. Please, another cup of tea.”
As he poured, I asked,
“I heard you opened a dialogue channel with the United States. How far has it progressed?”
“We’ve stopped at proposing a eting. They haven’t responded.”
I took a sip of the now pleasantly cooled tea before speaking.
“I spoke with the U.S. Secretary of State recently. When he heard I was coming to Pyongyang, he asked to gauge your true intentions.”
“......”
“Are you willing to abandon nuclear developnt? As I said before, only then will the White House proceed with negotiations.”
“Yes. That’s my intention. But I’m not foolish enough to offer it upfront. I’ll extract what I can first—then concede.”
Extract what he could. A good stance.
But the United States didn’t seem inclined to yield easily either.
“As I’ve already told you, Arica’s official position is that regi guarantees cannot be put into writing.”
“Doesn’t that an your promise was false?”
“I never promised a regi guarantee. I promised the lifting of economic sanctions.”
“The Republic—no, Chairman Kim Jongil—pursued nuclear weapons to protect the state. If we give that up without regi guarantees, what then?”
Jang Songthaek raised his voice in agitation. Even the sharpest minds lose their footing when emotions run high.
“Calm down and listen.”
I steadied him.
“They said it can’t be docunted. They didn’t say there would be no regi guarantee. Do you understand the difference?”
Arica, as a champion of human rights and democracy, couldn’t officially endorse North Korea’s system.
But unofficially, it shook hands with dictators and authoritarian states all the ti.
“Unofficially, the White House is prepared to support you, Vice Chairman—provided there is complete and verifiable denuclearization.”
What the United States wanted was total, verified abandonnt of North Korea’s nuclear program.
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