The Famous Millionaire

Chapter 284

While at the STM factory in Daesan several months later, Duyoung watched the test site of the factory with a tense expression. It was the first prototype product of Super Green since the new factory was completed. Hyunwoo was beside him.

A little later the test results came out.

Duyoung's face brightened.

"Good for me! We have succeeded!"

"Were the results as you expected?"

Duyoung nodded, "It's almost perfect without any error."

In fact, there could be no errors. As the working principle was simple, it was not affected at all by the change in environment.

Of course, the producing process of Super Green was complicated, ranging from temperature, pressure, the amount of current to the ratio of the mixture of other additives.

But they were for window-dressing. If only a certain amount of microcurrent flowed while microorganisms were injected, the gasoline would be quickly purified regardless of temperature and pressure.

The reason for the setting of various environments was because he needed to prepare for industrial espionage. It was intended to confuse bad companies like Singyong, so that it would be difficult for them to steal the relevant information.

Duyoung said confidently, "Fuel economy has been improved by more than 9%, compared to the existing gasoline. But the advantage of Super Green is not fuel economy. Impurities were significantly reduced, there was no knocking at all. And as there is nothing that will be hard on car engines. So if they have high-end cars, it is a big benefit for them to use Super Green even at a high cost."

Hyunwoo was thrilled to hear that.

"I think we need to build a second, third factory as soon as possible."

"You should. With this performance, there will be shortages of Super Green no matter how much we produce, but you had better check how the market reacts first."

Duyoung was right.

Hyunwoo ran Super Green factories at full capacity. Factories were built in America, Japan and Europe around the same time, starting to produce Super Green at the same time.

Hyunwoo had no intention to sell Super Green directly.

He thought of dealing with gas stations across the country directly, but it was risky.

So, he changed the sales methods. Namely, he decided to hand over Super Green wholesale to the existing oil refineries.

Hyunwoo shipped prototype Super Green to them including Singyong and OneStar, along with an official promotional letter.

And then he put Super Green up for auction.

The auction took place monthly. The STM Daesan factory could produce up to one million liters of Super Green per month and would put it all up for auction.

After sending the official promotional letter and test products, Hyunwoo was tense.

'How many profits can I make? I wish I can make 150 won per liter.'

***

Munsik sprang to his feet and shouted,

"What did you say? 9%? And that, by the standard of premium gasoline?"

Nodding his head, the manager of the development team presented the test data to him.

Munsik snatched and checked it.

It was a surprising test data. The fuel economy of Super Green significantly improved, compared with the existing gasoline. Besides, it was superior to existing premium gasoline in other test data.

What's important, above all, was that Super Green posed nothing hard on engines.

If that's the case, luxury car buyers would choose Super Green even at a high price. If they could drive their cars with a clean engine longer than before, it would be much more beneficial than saving on fuel costs.

Though Munsik didn't want to recognize it, he had to.

'Wow, Duyoung. He finally hit the jackpot!'

He could not sit idle.

He immediately called the manager of the purchasing team.

"Participate in the auction. You have to win it unconditionally."

"How much do you have in mind as the highest bidding price? We can't bid too high no matter how good Super Green is, right?"

After thinking about it a bit, Munsik slapped his lap with joy,

"Talk to other oil companies on this. Propose to them that they take turns buying Super Green every month. That will ensure us to purchase it at a bargain on an equal basis."

"What a good idea. Let me contact them immediately."

The manager quickly went out of the office to take action.

Looking at him, Munsik made a satisfied smile.

One month later, there were several people gathered at the conference room of STM.

Among them were the manager of the purchase team of Singyoung and that of the purchase team of Bando Oil. There were two other people from other oil refinery companies.

Singyoung's chief informed Munsik of the atmosphere of the auction place over the phone.

"It's as we expected. Only four companies that we joined hands with participated in the auction. I don't see any other company now."

"Really? Hahaha, Great. Just carry out our plan."

After the call, he put down the bidding price. It was 960 won per liter, which was only ten won more expensive than that of the other oil company. As the cost of gasoline was 900 won per liter, it would generate 60 won in net profits.

He heard that the monthly production capacity of STM was about one million liters. That meant 60 million won in revenues per month. With various expenses and the employees' salaries deducted, STM would make little money.

If STM expanded factories, it could make more.

By then, however, Singyoung could produce Super Green on its own. With a little tweaking in the producing process, it could apply for a patent, so Munsik thought he could produce as good Super Green as STM.

Singyong's chief made a satisfactory smile, but at that moment, he made a surprised expression while he was looking at the entrance of the conference room.

"Oh my god, is that the guy…?"

Obviously, he was the chief of the purchasing team of Ohsung.

'Is it true that they also want to participate in the auction?'

He was confused. According to Munsik, Ohsung Group completely gave up the business of oil refinery after OneStar took over Bando Oil.

Why did the chief of Ohsung's purchase team appear here suddenly?

Singyoung's chief urgently called Munsik to explain about the situation.

"What? Ohsung Group participating in the auction? Why?"

"I have no idea."

"Damn it. Just go and ask him NOW!"

"Got it."

Only then did he rush to the chief of the purchasing team of Ohsung.

"Hi, I've seen you before. I am Kyongtae of Singyoung Group. I met you several times before. Do you remember me?"

"Of course. Nice to meet you here. My name is Yung Choi."

"By the way, how come you're here?" asked Kyoungtae in an annoyed voice.

"Well, today is the day STM put its Super Green up for auction, so Ohsung Group has decided to participate in it."

Kyongtae's eyes popped up with surprise. Contrary to Munsik's expectation, Ohsung Group hadn't given up the dream of starting the oil refinery business.

Hearing from him about the shocking news, Munsik was furious.

"Why are they trying to stab me in the back like this?"

But there would be no big change no matter how upset he was.

"What should I do?" asked Kyongtae.

At his asking Munsik answered in an annoyed tone, "No other choice. Just bid high to win the auction."

Kyoungtae flinched at that, "How high do you have in mind?"

Pondering over it a bit, Munsik said, "Bid 1,022 won."

Munsik thought Ohsung's bidding price would be less than 1,000 won.

In fact, Kyoungtae felt 1022 won was not high enough.

At least, 1,100 won might be the proper bidding price, he thought.

"Don't you think we should bid a little higher than that?" asked Kyoungtae.

"Really? I agree with you. It's a bit low, isn't it?"

"Yes, sir. The performance of Super Green is much better than expected. Even if we sell it at 500 won higher than other premium gasoline, it is still competitive in the market."

"Okay, write down the bid price of 1,120 won."

Kyoungtae changed the bidding price and wrote down 1,120 won.

The name of the company who won the auction on Super Green was supposed to be released at the auction place today.

After waiting for a while, an official with STM stood before the podium.

"The company that has won today's auction is Ohsung Group."

With an embarrassed expression, Kyoungtae staggered.

'Damn it. Did Ohsung bid higher than 1,120 won? How much did they write down?'

Kyoungtae was just freaking out. Most likely Munsik would throw an ashtray if he knew about the outcome.

Still, he had to inform Munsik anyway.

As if he was waiting for his call, Munsik picked up the phone immediately.

"What happened?"

"We didn't win. Ohsung Group …"