“So. Has the matter of the Russian assets been wrapped up well?”
The Blue House executive office.
Kim Sang-cheol, who had come in to work early that morning, asked Lee Chan-ho.
“Yes. A few formal procedures remain, but it seems clear the EU will not raise an issue over it.”
“Good grief, that took ten years off my life. I was worried Europe might sanction us for violating the financial sanctions.”
“That would be absolutely impossible. If you turn over the routes for indirect exports, Europe is the one with the least room to talk.”
“I know. But Europe has a way of being strict with others and lenient with themselves.”
“Ah, yes. Haha...”
“Still, hearing that it ended without any trouble puts my mind at ease.”
Kim Sang-cheol roared with laughter as he scrawled his signature across the documents.
A single official letter from Warsaw had put him in a good mood from the morning onward. Not only had they decided not to take issue with the thirty billion dollars in Russian assets, but they had also succeeded in securing a weapons contract worth several trillion won from Poland, the front line state.
And it did not end there.
If Korea succeeded with its own independent technology, they had agreed to sell missiles as well, and the Ukrainian defense market—expected to grow even larger in the future—was waiting for Korean weapons. The potential scale of that market was truly beyond imagination.
“Prime Minister, how do you see things going from here?”
“Are you referring to Ukraine?”
“Yes. Poland is already a fish we’ve caught, isn’t it? Ukraine’s defense market is the real new market. Who do you think will seize it?”
Lee Chan-ho answered as if it were nothing.
“Naturally, it will be us.”
“Prime Minister, I know you’re excited, but still, try to give me a somewhat objective forecast....”
“This is not patriotism. I am speaking very coolly and objectively.”
“Truly?”
“Of course. After the Russo-Ukrainian War, even Poland, which stands one step removed, has already ordered weapons worth twenty trillion won. Not only K9s, but Cheonmu, Black Panther, FA-50s, and countless other weapons. All of them are up to five times cheaper than Europe’s own domestically produced weapons.”
Lee Chan-ho’s voice was full of certainty.
“If even Poland is like this, then which country will Ukraine, where every bit of funding matters, order weapons from? In truth, the fact that Poland ordered additional weapons from us already seems to show that they have broken free from the influence of Britain, France, and Germany. If one compares only performance and price without external factors, our domestic products overwhelm every European-made weapon.”
It was an uncomfortable truth, but the Russo-Ukrainian War had been a windfall for Korea’s defense industry.
Our defense industry, which had been on its last legs, had revived dramatically after the war.
Once the fire was at their feet, orders for Korean-made artillery, shells, and vehicles surged across Eastern Europe, and Korea was able to repay that demand with even lower unit costs through economies of scale. In peacetime, this would have been absolutely impossible because Britain, France, and Germany prioritized the adoption of their own domestic weapons.
Ironically, that reputation even spread to Southeast Asia.
Numerous Southeast Asian countries, including Indonesia, placed large orders for multiple rocket launchers, self-propelled artillery, fighter jets, and more. Then, when Thailand and Cambodia suddenly went to war, Korea unexpectedly became able to obtain real combat data as well.
“Hmm...”
The data that had piled up like that said everything. It showed who had the greater advantage in Ukraine’s defense market.
In truth, they had no choice when every bit of funding mattered. With the money needed to buy one European-made unit, they could arm themselves with five Korean-made ones.
“With all due respect, Mr. President, I do not think this will end only with Ukraine.”
“What do you mean by that?”
“In the end, we are all countries in the same free world, are we not? Right now, it may not be easy for various political reasons, but before long, I believe Britain, France, and Germany will also adopt Korean-made weapons.”
“Hoho... Isn’t that going a bit too far?”
“Germany, which declared rearmament, is already groaning under its defense budget. Since they suddenly tripled their spending, there is no way complaints would not arise. Just wait and see. France and Germany will soon use our weapons too.”
Kim Sang-cheol narrowed his eyes, but a smile remained on his face.
In truth, the recent trend in the defense market did appear that way at a glance. After the Russo-Ukrainian War, the forced selling of domestic weapons by Britain, France, and Germany had lost its strength.
Eastern European countries with poor economic circumstances were already arming themselves with Korean-made weapons. Then could Britain and France truly continue to hold out?
“Very well. In any case, it is quite fortunate that the prospects for our defense industry remain bright.”
“Yes.”
“Then where is Minister Kim right now?”
“I told him to go straight to Ukraine yesterday, so he should be in Odesa by now.”
“And that matter?”
“It has all been arranged. He is to meet President Zelensky and, in exchange for supporting reconstruction funds, secure weapons contracts.”
“Understood. Tell him I will grant him full authority as you said, Prime Minister, so he should wrap it up well.”
“Yes. You may look forward to good news. Haha.”
Just as everything seemed to be going smoothly, Kim Sang-cheol asked with a bitter expression.
“But Prime Minister. Ukraine is one thing, but did you discuss that matter I asked you about before with the ministers?”
“Are you referring to Russia...?”
“Yes. To be honest, I still cannot quite decide. Ukraine’s wheat, Russia’s gas... No matter how I look at it, Russia’s raw materials seem far rarer in the international market. Do our ministers truly think that way?”
Lee Chan-ho nodded with a calm expression.
“Yes. The majority of the State Council members believe it will not be easy for Russia to rise again. They also predict Ukraine’s reconstruction will proceed faster.”
“Because of the difference in support?”
“Yes. Europe’s grants and China’s interest-bearing loans are fundamentally different. Even if all frozen assets in Europe are released, we expect that money will go straight into China’s arms.”
“Then they would have no money at all to use for reconstruction...?”
“Yes. That is why they are even more skeptical about Russia’s reconstruction. Rather, they believe Ukraine, as the foremost line on Europe’s eastern front, may receive full support like Korea did during the Cold War... Therefore, the idea of restoring relations with Russia and securing a potential market there does not seem to be a very practical choice.”
After hearing the ministers’ views, Kim Sang-cheol nodded.
“Understood. If that is the ministers’ opinion, then I will step back. For the time being, let us focus only on Ukraine’s reconstruction.”
*
Odesa, about three hours from the contested region of Kherson.
Before visiting the capital, Kyiv, our reconstruction task force first stopped by the coastal front.
Odesa was one of the major fronts even in the Russo-Ukrainian War. If Ukraine lost this foothold leading to the Black Sea, it would become a landlocked country forever.
Perhaps because of that, although the front line was quite far away, the sounds of explosions and detonations could be heard from time to time. Yet the residents seemed to pay little attention to it, as if this were everyday life.
“The schedule is set. Today, starting with Odesa, we’ll inspect the coastal front, then meet with an official from the Ministry of Finance.”
—Then President Zelensky...?
“Sometime between tomorrow and a week from now? As you know, it’ll likely be decided depending on the situation.”
Understanding what that meant, we quietly nodded.
At present, Zelensky’s schedule was the highest-level secret within Ukraine. If his destination was confirmed, Russia would attempt another “black tea operation.” For that reason, even meetings with allied countries could not be confirmed carelessly.
Because of that, we had to wait, knowing our appointment with him would be in roughly three to five days, and if the authorities on their side called us, we would have to adjust to that schedule.
—Then it could take even longer?
“We’ll just have to hope it doesn’t.”
Minister Kim gave a bitter smile as he looked at the eastern sky, where another explosion had begun.
I was a little uneasy as well. Still, they said the talk of ending the war was recently nearing a conclusion... The Russian army would not infiltrate the coastal front, would it?
“Instead of standing around like this, let’s at least eat. Ukraine is... well, the bread should be good, right?”
—Yes.
And so our party came out onto the street and headed to a grocery store.
Everything felt unfamiliar and awkward. Odesa had not seen much direct fighting other than the Russian landing operation at the start of the war, and yet its scars were considerable.
The traces of bombing visible here and there were dizzying just to look at, and seeing residents pass by the rubble of collapsed buildings as if it were routine gave me a strange sense of dissonance.
“Chief Park, how do you think this place will change once the war ends?”
Minister Kim asked while picking up and eating a handful of pickled herring.
—Odesa, you mean?
“Yes. I’m no military expert, so you know more about this side of things than I do. What do you think will happen?”
—Well... If it’s Odesa, I think it will play the role of Baengnyeongdo for Korea.
“A front-line coastal base?”
—Yes. Now that Crimea has effectively been annexed, this is the only route Ukraine has leading to the Black Sea.
Chief Park, who had served at the Army Operations Command, spread out a map of Odesa and continued his explanation excitedly. As a non-expert, I could not understand everything, but one thing was clear.
The area around this coastal front would require an enormous number of self-propelled guns and multiple rocket launchers.
—Self-propelled guns alone won’t be enough. This war revealed that Ukraine’s air defense network is quite vulnerable. That means they will also need to secure a considerable number of precision-strike weapons, and the volume will be very significant.
I swallowed hard.
The reason we were providing sixty billion dollars in reconstruction funds to Ukraine, a country that had no direct connection to us, was precisely for this.
From Kharkiv in the north to Zaporizhzhia in the south. This long front line, roughly 1,200 kilometers in length, required an enormous amount of weapons and state-of-the-art equipment.
Since the Korean armistice line was about 250 kilometers long, it meant a market more than five times larger had suddenly appeared before us.
“...”
And so we intended to share the good thing together.
Korea’s current defense system was so focused on firepower that it was called the “Artillery Ministry.” Conveniently, Ukraine’s armistice line had many similarities with our own border. If they armed themselves to the same level as us, would that not further break Russia’s will to invade again?
“...It feels a bit nerve-racking to say this, but if the southern front alone is five hundred kilometers, that’s twice our DMZ, isn’t it?”
—Yes, that is correct. Supplying weapons only to this side would effectively double the Korean defense market.
“But Ukraine’s economy is too small for it to rearm to our level, isn’t it?”
—Its own weight class may be small, but there will be indirect support from Europe. With the support of all Europe, rearmament beyond that level could sufficiently be considered.
When Chief Park’s explanation ended, Minister Kim said with a hardened expression.
“Right. We must secure the weapons contract no matter what. We have donated this money so generously for reconstruction; we cannot let them use European-made weapons.”
—Exactly. Our artillery is superior in both performance and price, so it is a win-win for both sides.
Just as we were finishing our meal, a woman approached us from a distance.
“Excuse me. Are you perhaps Minister Kim Jae-seok from Korea?”
“That is correct, but who are you?”
“I am Director Lizenko of the Ministry of Finance. We have a meeting scheduled today.”
“Ah, how rude of me. You must be Director Oksana. Please, have a seat—”
“I’m sorry, but we don’t have time for that. Would you come with me for a moment? The President is waiting.”
Minister Kim’s pupils widened.
“President Zelensky? Our schedule with him was...”
“I apologize for not being able to give you the exact date. In Ukraine right now, the President’s schedule is a top secret.”
Understanding her meaning, Minister Kim nodded with a firm expression.
“Understood. Let’s go at once.”