By the time they finished the pointless war of nerves and arrived at the conference hall, it was already close to midnight.
“Pleased to meet you. I am Anton, Minister of Finance.”
Minister Choi answered with a smiling gaze and shook his hand.
The men seated beside Minister Anton appeared to be Russian generals, and every last one of them looked as though they found this meeting displeasing.
“...”
So they still haven’t shaken off their habits from the Soviet days, have they?
The sight of those bastards with their chins lifted said everything. The only thing in their heads was how to fleece us.
“First, allow me to express my regret that the meeting schedule was delayed. As you know, Russia currently has many issues to resolve, both at home and abroad. I ask for your generous understanding.”
“Not at all. We are busy enough as it is, so how busy must the country directly involved be? In truth, there is nothing to gain from dragging out matters of money. Since this meeting was not easy to arrange, I sincerely hope our two countries can reach a meaningful agreement.”
“I feel the same. Ah, allow me to introduce him. This is Vice Minister of Defense Isilnov.”
“Pleased to meet you. I am Kim Jaeseong, Minister of National Defense.”
In a meeting like this, “rank” was normally important, but at present, neither country had the luxury to fuss over such things.
“Minister Anton. If you don’t mind, may I say something first?”
Isilnov opened the conversation in an attitude so lofty it was unpleasant.
“First, we are deeply grateful for the sincerity Korea has shown. The large sum of thirty billion dollars was of great help in defending Russia’s territory.”
“Yes.”
“In fact, this is not the first connection between our countries, is it? Thirty years ago, our two nations strengthened our friendship through the Brown Bear Project. Russia’s outstanding technology and Korea’s capital strength have developed in this mutually beneficial way.”
“Yes.”
“Therefore, if the Korean side is amenable, I was thinking that, in this matter as well, we might exchange not money, but technological cooperation.”
As soon as money came up, the smile vanished from Minister Kim’s face.
“Yes, please go on.”
“In truth, before this meeting was arranged, I recall the Korean side first making a proposal regarding our hypersonic technology.”
“Yes.”
“But this hypersonic technology is hardly ordinary technology, is it? If one traces its history, it goes all the way back to the Cold War era. One could say that Russia’s hypersonic technology is the crystallization of a full century of technical prowess.”
“Yes.”
“Thus, there was internal debate over whether technological cooperation in this area was right or wrong... but our Ministry of Defense made a difficult decision for the sake of strengthening friendship between our countries.”
Our Moscow TF looked at him with tense faces.
Like a Ponzi schemer, Isilnov had an incredibly long preamble. Seeing him make such a show of it before even getting to the main point, could it really be an extraordinary technology transfer?
“Iskander. Yes, we will share with Korea the Iskander missile, which has been deployed as Russia’s main missile this time.”
Minister Kim gave a rotten smile.
“By Iskander... you mean the Mach 6 or 7 missile?”
“That is correct. What do you think?”
“Well. The Hardcore missile we are currently developing independently has also reached Mach 6.”
“It will be on an entirely different level from that. With this deployment, our Russian military has improved the Iskander to Mach 8, and its range has been increased as well. It will be an enormous help to Korea.”
Minister Kim and Minister Choi ground their teeth.
As expected, these bastards haven’t changed one bit from thirty years ago... Back then, too, they forced military technology on us with nothing but a flashy wrapper around it.
They brazenly refused to repay the Soviet loans, so we had to accept even that much.
“I’m sorry, but we would like you to consider other options. The Iskander missile is not particularly desirable technology for us. If it were something on the level of Kinzhal or Zircon, that would be another matter.”
“That would be a bit difficult for us. While we do not doubt the friendship between our countries, given the various alignments between blocs, it is hard to regard Korea as an ally of Russia. Strictly speaking, you are closer to a hostile state, so please understand that even transferring this technology is already a considerable decision on our part.”
Minister Kim looked at the man’s face, then let out a low sigh.
It seemed that their Ministry of Defense had already reached its conclusion. He turned his head to look at Minister Choi, but his face was just as dark.
“Then just give us the money.”
As an uncomfortable silence continued, I opened my mouth from the lowest seat.
Leaving our two ashen-faced ministers behind, Isilnov turned his head toward me with an offended expression.
“Excuse me, but who are you?”
“I’m Lee Sejun, head of the NPS Risk Team.”
“Ah, NPS? How fascinating. Does Korea’s security line include employees from investment firms as well? Haha.”
“I went through quite a bit of trouble. For three years, avoiding the West’s financial sanctions, I personally arranged thirty billion dollars in Russian bonds. In fact, this money is not from the Ministry of Defense budget, but from our NPS budget. If this issue is reported in the Korean news, I will probably go to prison. Haha.”
With the man’s face souring behind me, I continued.
“But if the technology is only at this level, it would not be worth going to prison for.”
“Wh-what?”
“The reason Korea is obsessed with hypersonic technology is because of North Korea. The Hwasong-17 has already reached Mach 22 upon reentry. What sort of deal are you proposing with technology that isn’t even half of that?”
“Look here.”
“Just give us the money. We would rather take that money and develop it ourselves.”
He immediately turned his head.
“Minister Kim. What exactly is this? No matter how I look at him, he seems to be merely an attendee, not someone with the right to speak. Are you going to keep letting him make careless remarks?”
Minister Kim glanced at me, then shrugged.
“No. Our Moscow TF is a negotiation team made up of experts from every field; there is no hierarchy. Moreover, we share Team Leader Lee Sejun’s view. We want something like Kinzhal and Zircon, which are about twice as fast as Korea’s current technology, not Iskander.”
“The Korean Ministry of Science and ICT feels the same.”
Thanks to the support of the two of them, Isilnov’s face soured even further.
He glared at us for a long while, then replied with an answer that did not deviate a hair from expectations.
“What if we say we can’t give it?”
Was he like this in front of our predecessors thirty years ago as well? Simply saying they couldn’t give it, without any basis or end to the matter...?
I answered.
“Is that a declaration of default?”
“I don’t know your refined economic terms, but know this: even if we died and came back to life, we have no money.”
“That’s why we presented an agreement point both countries can compromise on. Kinzhal and Zircon.”
“I said that is impossible! Either take this technology, or don’t!”
“Well... then you won’t be able to handle the consequences.”
“What?”
“If you’re acting this way thinking of the Soviet collapse, you’re making a grave mistake. Then and now are very different.”
“What nonsense...”
“If the Russian government declares default, the ruble will become scrap paper immediately. Then Russia’s legal currency will no longer be the ruble, but the dollar. Or perhaps the yuan.”
“Wh-what?”
“Then the authorities will probably have to maintain a fixed exchange rate, and the black market for dollars inside Russia will grow even larger. If matters reach that point, prices will already have skyrocketed. Argentina should make it easy for you to understand.”
“Look here!”
Just as Isilnov sprang up from his seat, Minister Anton shouted.
“Enough!”
He glared at Isilnov and said,
“Vice Minister Isilnov. This is not haggling in a marketplace. It is a conference between nations.”
“But...”
“You may leave now. No, all of our Ministry of Defense personnel, leave.”
“M-Minister...”
“Get out, now!”
After the scolding ended, the generals who had been sitting like decorative screens left, and only Minister Anton remained in the conference room.
He looked at Minister Kim, then sighed.
“I ask for your understanding. Our side’s voices grew too loud.”
“It’s all right. These things are common enough at the negotiating table. Haha.”
“Then I would like us to return to the starting point and discuss this from the beginning. Purely on economic logic.”
Already exhausted, he looked as if he had resigned himself to something.
He asked me,
“You said these funds are not government money, but NPS funds?”
I nodded.
“Yes, that is correct. In truth, for me, receiving money would be the easiest and cleanest solution.”
“...I’m sorry, but we do not have the capacity to pay in money. Is there truly no other way?”
“I’m sorry, Minister. But for us, it is not a small sum either, so we cannot write it off in exchange for technology that is practically useless.”
He let out a deep sigh.
Perhaps the economist burdened with the most difficult problem in the global community right now was the Russian Ministry of Finance. If they solved this dilemma without a default, it might make it into finance textbooks.
“Then, if our side were only to request an extension of maturity or an interest reduction...”
“I’m sorry.”
“Not even that?”
“It’s not a request you’re making only of us, is it? Aren’t you already in a tug-of-war with China over that issue?”
“...”
“If the Russian Ministry of Finance is even a day late on an interest payment, we will report it to global rating agencies immediately and enter into a repayment plan.”
In truth, Minister Anton had no options. Not if he didn’t want to turn the ruble into scrap paper...
I spoke to him, whose worries had grown even heavier, as though coaxing him.
“Minister Anton. Instead of doing this, please persuade your country’s Ministry of Defense. Kinzhal and Zircon... With those two, this can end cleanly.”
*
After returning from the stifling meeting, Anton roughly loosened his tie and collapsed onto the sofa.
He knew. Germany, which had lost World War I, had managed to live reasonably well at first... What truly ruined Germany was not its defeat, but the Great Depression that erupted while it was paying reparations, at which point the German mark was reduced to kindling.
And the domestic discontent that began that way led to tremendous political upheaval.
“...”
Then what would become of Russia’s future?
—Minister, it’s Isilnov.
As he sat lost in thought, massaging his temples, Isilnov entered.
Perhaps the humiliation he had suffered earlier had yet to fade, because his face was flushed red.
“Those little bastards are unbelievably arrogant, aren’t they? This will not do. Within next month, I will hold talks with North Korea and put pressure on the South Korean government. That is their greatest weakness.”
“And what will you do after meeting them?”
“...Pardon?”
“Bring back another pile of dud shells?”
“M-Minister?”
Anton glared at Isilnov and said,
“Give it to them. What Korea wants. You people persuade the Kremlin.”
“M-Minister!”
“Isilnov, for your information, once the armistice proposal is finalized, the first thing we will cut will be the pensions for disabled veterans and the bereaved families of the war dead. Do you understand what I’m saying?”
Isilnov could not utter a single word.
Even he, ignorant of economics as he was, understood those words at once.
That there truly was not a single coin left in the national coffers.