Episode 7
Maru was a bundle of nerves.
As they drove into Chunha Resources, he eyed the flimsy metal panel walls with apprehension. The mountains of scrap metal sent shivers down his spine. The sight of the workers, dressed in shabby clothes, diligently sorting through the piles, filled him with doubt. And when he saw the two simple cots side-by-side in the container, he couldn’t help but sigh.
“Are you sure this is okay?” he asked, his voice laced with uncertainty.
“Of course! We’re just starting out, things will get better!” Sol reassured him, slapping him on the back.
“We’re both sleeping here? What about the other workers?”
“They all live in a nearby village. I drive them to and from work. Oh, and that’ll be your responsibility from now on, by the way.”
Ignoring Maru’s sigh, Sol introduced him to the workers, then grabbed the keys to the grapple truck, ushering Maru inside.
True to his word, Sol took Maru everywhere with him, showing him every aspect of the business.
“You bought that for 115,000 won? 385 kilograms at 300 won per kilogram? Who would even buy that?” Maru asked, wrinkling his nose at a pile of rusty metal scraps.
“This is disgusting, hyung. You’re telling me this stuff is worth money?”
“You paid 40 won per kilogram for that, but now you’re paying 200 won for this? It’s all just iron, isn’t it? What’s the difference?”
“My back is killing me from sleeping on that cot, hyung.”
Maru’s complaints and skepticism continued until their first delivery day, a week later.
Sol had contacted a wholesaler and arranged for a pickup. When Maru saw the invoice, his jaw dropped.
“100 won per kilogram for this? 2,500 won for that? We bought that for 40 won!”
“It’s not just about buying low and selling high. We had to pay the workers to sort it, you know. Labor costs money.”
“They barely worked on it for a few days! How much profit are we making?”
“At least double, sometimes five times the purchase price.”
“It’s great that we’re making money, but why are they even buying this stuff?”
“They crush and melt it down in smelters. The molten metal is used to make new products, which are then sold to consumers. Those products eventually end up back here as scrap, and the cycle continues. It’s all about resource recycling.”
Sol shrugged, enjoying Maru’s bewildered expression.
He felt a surge of pride, a sense of validation. The factory workers might have been polite, but he could always sense a hint of disdain, a subtle reminder that he was just a “scrap metal guy.” This invoice felt like vindication.
“So, what do you think? Starting to see the value in all this scrap? It’s an occupational hazard, you know. Everything starts to look like money.”
“I see it now… it’s all money.”
From that day forward, Maru’s attitude shifted. He became an eager student, absorbing everything he could about the scrapyard business. He learned about the flow of materials, the difference between ferrous and non-ferrous metals, how to identify valuable scrap, and how to calculate profit margins.
Sol had asked him to stay for at least two years, even if he eventually decided to branch out on his own. Maru readily agreed.
Having Maru around made a world of difference. They could vent their frustrations, share their worries, and enjoy a drink together after a long day. Bringing Maru on board was the best decision he had made.
“Look at that, Maru! 12 million won this month! Profits are up!”
“It’s like free money, hyung.”
“I told you, trust your hyung.”
They clinked their makgeolli cups and downed their drinks.
“Ah, nothing like a drink after a long day,” Sol sighed contentedly.
“Hey, hyung, I think there’s a new scrapyard opening up near the complex. I saw them putting up metal panels on a lot earlier today.”
“About time.”
It had been nine months since the new registration system went into effect. New scrapyards were popping up all over the country, drawn to promising locations like the Ansan Industrial Complex. The complex was so large that two scrapyards were barely enough to handle the volume.
“Did you give that little incentive to the new contact at that factory?”
“Of course. He looked at me like I was crazy for offering him money.”
About a month ago, Sol had started giving small “incentives” to the waste management personnel at companies with high-value scrap.
For every 200,000 won worth of scrap collected, he slipped them 20,000 won.
It wasn’t a huge sum, but it was enough to make a difference. The condition was simple: when other scrapyards came knocking, they had to let him know their offer. And if the offers were similar, they were to give him priority.
They might have agreed out of politeness, but the real power of these “incentives” lay in their consistency. Those 20,000 won payments would add up, creating a sense of obligation, a subtle form of leverage.
They wouldn’t want to risk losing their little side income or having their boss find out. So, they would continue selling to Sol.
He wasn’t asking them to cheat their company or sell below market value, just to keep him in the loop so he could match any competing offers.
“It’s a slow burn, but it works,” Sol thought, a sly smile playing on his lips.
“That’s for sure.”
“Anyway, I’ve pretty much cornered the metal scrap market in the Ansan Industrial Complex. Even if I just maintain the status quo, the volume will increase as those companies grow.”
“Congratulations, hyung. I’m impressed.”
“Which brings me to my next point…”
Sol lowered his voice.
“Maru, with you here, I think the Ansan operation can run smoothly without me. I need to start expanding, exploring new opportunities. I’ll check in once a week, but you’ll be in charge here. What do you say?”
“What? Hyung, I’ve only been here for a month! I barely know anything! You want to leave me in charge?”
“I’ve been doing this for less than a year, Maru. We’re already stretched thin just handling the existing clients. We need to hire more workers, but expanding to new clients is too much right now. Just maintain the current relationships, you can handle that. Don’t forget, I started this whole thing after just a month of experience.”
Maru hesitated. “It’s a lot of responsibility…”
“I’ll bump your salary to 2 million won a month.”
“Really?”
2 million won a month was a hefty salary in 1994. Seeing Maru’s surprise, Sol pressed on.
“That’s right. Save up, Maru. Do you really want to be an employee forever? This little industrial complex isn’t enough for me. I’m aiming for national, even global domination. Who’s going to run this place while I’m out conquering the world?”
“Well…”
“You know how much I’m making, right? This could be yours someday. You never know what the future holds, but it’s good to have some management experience under your belt, right?”
“I guess so. Alright, hyung, I’ll do it. I’ll give it my all.”
After two days of handing over the reins, Sol drove his truck towards Seoul, heading for his former mentor’s scrapyard.
The place hadn’t changed a bit. Still shabby, still rundown.
The owner had been running this scrapyard for over a decade. Even a conservative estimate of Cha Sajang’s earnings over a mere five years put him in the multi-million won range.
The owner must be even wealthier, Sol thought. A Grandeur was probably nothing to him.
“Sajangnim! I’m back!” he called out, stepping into the yard.
The owner, as always, was hammering away at something. He turned his head, a smile spreading across his face.
“Well, well, if it isn’t Park Sol! Back in Seoul, are you?”
Sol felt a warmth spread through him. It was good to see him.
“How have you been, Sajangnim?”
“Can’t complain. How’s business?”
“Booming! I might even be richer than you by now.”
The owner chuckled. “That’s the spirit! You’re young, you’re supposed to be successful. Don’t compare yourself to an old geezer like me. Come on, let’s go inside.”
They sat down in the office, and Sol recounted his adventures over the past six months.
The owner was both impressed and envious when he heard about Changjo Resources’ downfall. He clapped his hands in delight when Sol revealed the volume of scrap he was handling.
“The industrial complex is a whole different ball game. I mostly deal with household waste, so I’m not familiar with that side of things.”
“Really? It’s definitely a different approach. We don’t have elderly folks with carts coming by. Occasionally, a truck driver will stop by to sell us something, but it’s not very common. We’re a bit out of the way.”
“I see. It’s good to hear you’re doing well.”
Sol felt a surge of gratitude. The owner had shared all his knowledge and contacts in just one month, even revealing sensitive information like wholesale prices.
Sol wouldn’t even share that information with anyone besides Maru.
“So, what brings you back to Seoul?”
“Things are stable at the industrial complex. I’m looking for new opportunities, new sources of scrap. I was hoping you might have some ideas.”
“New sources?”
“Yeah, new…”
“I know what ‘sources’ are, son. I’ve learned a thing or two from talking to my son. I’m not completely out of touch with you ‘Generation X’ folks.”
“Wow, you even know about Generation X?”
“It’s all over the news these days. Anyway, you’re looking for new sources. How about expanding your territory? Find new areas near your scrapyard.”
“I thought about that, but wouldn’t that just be more of the same? Another industrial complex would just add a bit more volume to my current operation.”
“A ‘bit more’ is an understatement…”
Sol thumped his chest. “I need to level up, Sajangnim! Maybe I should target larger companies, corporations, conglomerates…”
The owner shook his head. “That’s going to be tough. Small and medium-sized enterprises are one thing, but large companies are a whole different beast.”
He explained that unlike smaller companies that mostly produced simple parts for larger companies, large corporations like electronics manufacturers dealt with a massive volume of not just scrap, but also partially finished products and defective goods. Some of these defects were so minor that they wouldn’t affect functionality, things like a slightly misaligned plastic seam on a television.
But if these products entered the market, they could damage the brand’s reputation and affect the price of genuine products. So, these companies had strict security protocols and only worked with established, high-volume wholesalers with impeccable reputations.
“So, they don’t trust the little guys, huh?”
“Exactly. Those wholesalers aren’t paying VAT(Value added-tax) and jumping through hoops for nothing. They need that track record to even have a shot at landing contracts with the big players. You and I aren’t there yet.”
“I see… but…”
Sol’s eyes gleamed. “Defective products, huh? Sounds profitable.”
The owner’s expression turned serious. “Don’t even think about it. Those corporate auditors are relentless. Get caught messing with their stuff, and you’ll end up in jail.”
“Yes, yes, I wasn’t seriously considering it… yet.”
“Yet? You’re still thinking about it? Focus on what you’re doing, stop chasing pipe dreams.”
Sol quickly changed the subject. “Anyway, back to new sources. Any other ideas?”
The owner pondered for a moment.
As he thought, Sol’s gaze fell on something unusual. He walked over to get a closer look. It was a computer.
“Wow, Sajangnim, people are throwing away computers these days?”
“Seems like everyone’s upgrading to those 386 or 486* computers. Lots of old ones ending up in the trash.”
“But they’re so expensive! Are they broken?”
“They’re more trouble than they’re worth.”
“Why?”
“You know those green circuit boards inside appliances?”
“The ones with all the chips on them?”
“Yeah, those. We used to get them from washing machines and televisions. They were small, so we just tossed them in with the scrap metal. But computers… they have these huge circuit boards. They’re a real pain to deal with. Nobody wants them.”
The owner picked up a large circuit board, nearly the size of two placemats, covered in black chips against a green background.
“This is a circuit board?”
“Yep. I wish someone would take them off my hands. You interested?”
“Sure, I’ll take one if you’re giving it away.”
“Oh, and about those new sources… I heard that insurance companies hold auctions.”
“Insurance companies? What would I be bidding on?”
“Just something I overheard. When there’s a car accident or a fire at a business, and they have insurance, the insurance company pays out the claim. Once the claim is settled, the damaged property becomes theirs. They collect it all and auction it off.”
“That’s an interesting idea. Even if I just buy the scrap metal from wrecked cars, I could make a decent profit from the non-ferrous metals inside.”
“I heard it’s not as profitable as it sounds. The auctions are competitive, and the prices can get inflated. But if you can consistently win bids, it could be a decent source of income. Up to you.”
“Thanks for the tip, Sajangnim.”
After getting the details about the auctions, Sol headed back to Chunha Resources. He picked up the circuit board the owner had given him.
“What’s so difficult about disposing of this?” he wondered, turning it over in his hands.
He tried to break it in half, expecting it to snap cleanly. But instead, it tore apart with a stubborn resistance, like thick cardboard.
“What is this thing made of?”
The exposed cross-section revealed a hard, sheet-like material. Upon closer inspection, he noticed something embedded within it, something with a brownish hue. He peeled away a layer, revealing a thin strip of copper.
“Wait a minute… there’s copper in this?”
***
Sajangnim: Boss
Hyung: Older brother
386 or 486* computers:
-Intel 386 32-bit microprocessor designed by Intel. The first pre-production samples of the 386 were released to select developers in 1985, while mass production commenced in 1986. https://en.wikipedia.org/wiki/I386
-Intel 486, officially named i486 and also known as 80486, is a microprocessor. It is a higher-performance follow-up to the Intel 386. The i486 was introduced in 1989. It represents the fourth generation of binary compatible CPUs following the 8086 of 1978, the Intel 80286 of 1982, and 1985’s i386.
https://en.wikipedia.org/wiki/I486