BCJ Chapter 396

The next day, Master Cha visited the fund again.

“Master Cha, what brings you here?”

“Can I see those lists again?”

“Of course, but…?”

“Let me take a look.”

That entire day, Master Cha settled in at the fund and meticulously combed through the lists.

“Ah, would you like a cup of tea?”

“Oh! Yes, please give me a cup.”

This wasn’t happening just in Naju. Across Joseon, those who had decided to invest would come to the fund daily, take a seat, and pore over the lists.

This was not only to grow their wealth but also became a new form of entertainment that satisfied their vanity.

“Why should I demean myself with lowly commerce? For someone in my position, it’s more fitting to invest.”

Sitting in the situation room, reading information sheets about newly starting businesses, enjoying the attentive service of fund employees bringing tea and snacks – this became their daily routine.

As more people started camping out like this, funds across Joseon had to print large quantities of 5-day, 10-day, and monthly reports. And the situation rooms of the funds became social gathering places for local dignitaries.

This wasn’t limited to men. Due to the strict separation of sexes, women gathered at nearby tea houses, and people would shuttle between the situation room and the tea houses every 30 minutes to relay information.

The women who gathered at these tea houses soon formed small communities called “tea meetings.” Of course, rankings were established within based on asset size, but they were still communities of women from families considered local dignitaries. Tea meetings, which sprang up at least one per tea house near the fund, soon began to engage in subtle competition with each other.

For women from families with slightly less economic power, these tea meetings became something they desperately wanted to join.

However, even the women who entered these tea meetings weren’t fully satisfied. Their ultimate goal was to enter tea meetings in larger cities, and ultimately, the famous tea meetings in Hanseong, Gaeseong, and Dongnae.

Even the smallest tea meetings in these three cities were dealing with more capital than the largest tea meetings in most provincial cities.

And among these three cities, the one that could be called the best was, of course, Hanseong.

Hanseong was able to surpass Gaeseong, which had accumulated commercial experience through a long history symbolized by the Song merchants, and Dongnae, which had accumulated capital through the Japanese trading post, because of “Area 51.”

It had the advantage of being able to see new artifacts and technologies created in Area 51 before anyone else. Being able to gauge whether these would go to the royal workshop or be released to the private sector was an absolute strength.

***

The formation of these tea meetings, allowing women to engage in public activities, became possible when women were able to enter official positions.

With Neo-Confucianism as the state ideology, Joseon strictly applied the law of separation between men and women.

This strict application began to loosen slightly when women started to become teachers at the public schools.

Of course, there was initially some criticism. However, since most of the female teachers at the public schools were those who had received national commendations for being filial daughters-in-law or devoted wives, such criticism became mere criticism for the sake of criticism.

Moreover, since they didn’t leave the school from the start of classes in the morning until they ended at dusk, there was no room for fault-finding.

And as women formally entered official positions, it became possible for women to move about freely in broad daylight.

Depending on the department, they had to work outside, and there was simply not enough manpower to keep women indoors just because they were women.

“I’ve finally gotten an official position, and you want me to just stay inside? And who’s going to do my work while I’m in there? Are you telling me not to go home?”

“And if only female officials are allowed to move around in broad daylight, wouldn’t that cause even more gossip?”

For these practical reasons, the law of separation was avoided when it came to movement. Thanks to this, women, regardless of status, were able to move about freely.

Another positive change occurred as women entered official positions.

The practice of “myeonshinrye” (a hazing ritual for new officials) completely disappeared.

This wasn’t just about new officials treating their seniors to a meal as a gesture of goodwill; it involved all sorts of bizarre harassment.

Since it was officially recorded during the reign of King Woo of Goryeo, there had been continuous attempts to eradicate this bad practice of myeonshinrye. Furthermore, King Sejong would immediately banish those caught to the archives, but the practice stubbornly persisted.

However, doing such things to women would no longer be simple harassment, but a crime. With more than 70% of the newly appointed female officials being daughters of noble families, doing such things would make one a serious criminal.

Thanks to this, myeonshinrye disappeared.

***

‘Gather small amounts of money to create large capital.’

‘Split large sums to invest in many.’

After some time, the fund’s operational methods began to show positive results.

Those who had failed the Business Evaluation Department prepared more thoroughly to seize this second chance.

As preparations became more thorough, the success rate of startups gradually increased. As people succeeded in starting businesses and growing their wealth, more people began to prepare for startups, following their example.

As this happened, Joseon’s previously passive society gradually became more active.

Local gentry also began to change little by little. While some still relied solely on their land holdings, others began to actively move their wealth as they became aware of the concept of “capital investment.”

Those who had tasted success through investment began to dive more actively into the financial market. As investment through the ‘Venture Capital Fund’ was limited, they began to look for new investment opportunities.

And as these capital holders began to move actively, existing merchant groups also started to change.

They began to grow the size of their merchant groups by receiving external capital infusions.

***

The ‘Park Family Merchant Group’ in Jemulpo.

“Hmm… At this rate, our profits will keep decreasing…”

The heads of various departments, chief clerks, and ship captains nodded at the assessment of Park Sang-wook, the head of the merchant group and chief manager.

“The Shandong route is too competitive.”

“It’s not just the Shandong route. The Tsushima and Kyushu routes are just as competitive.”

Listening to the words of the captains and department heads, Park Sang-wook’s expression worsened.

“The conclusion is, as always, that we need to go further…”

“The Ryukyu Kingdom is the most feasible option.”

“The problem is that the Honam merchants have already established trade relations there.”

“I hear that competition is fierce even among the Honam merchants because the Ryukyu Kingdom is small.”

After considering various rumors and facts in search of a breakthrough, they finally reached one conclusion.

“So you’re saying we need to go even further.”

“That’s right. We need to go at least as far as Siam, Dai Viet, or Malacca.”

“The further we go, the bigger the profits. We should go as far as India.”

When one of the captains mentioned India, ridicule erupted from those around.

“Why stop there? Why don’t we go all the way to Alexandria? Isn’t Alexandria where we can make the most profit?”

“You need to say something that makes sense…”

At the criticism from those around, the captain who first raised the suggestion shouted angrily.

“Why doesn’t it make sense!”

“We need ships to go there. Ships!”

“To go that far, we need large ships like the navy uses! Even the largest ship our merchant group has now is like a rowboat compared to the navy’s large ships!”

The captain who first spoke didn’t back down from the subsequent rebuttals.

“If the ships are small, can’t we just build bigger ones?”

“Where are we going to get such big ships built? Only the government can do that! Are you going to go to the government and throw a tantrum asking them to build us ships?”

“Why can’t we? Didn’t we have the example of rickshaws?”

“Are you comparing rickshaws to ships?”

“What’s the difference!”

“Talk sense!”

As voices rose among the people, Park Sang-wook shouted.

“Quiet! Quiet!”

At Park Sang-wook’s shout, the loud voices subsided. As the commotion died down, Park Sang-wook spoke.

“It seems we’ll have to go to Hanseong. Let’s send a message to the Ministry of Finance.”

At Park Sang-wook’s words, the department heads looked at him with surprised faces.

“Surely you’re not going to buy a large ship?”

“Aren’t we in a tight spot anyway? We should try everything we can.”

“That’s true…”

As the department heads acquiesced, Park Sang-wook added.

“But before we go, we should check everything we can in advance. Find as many ways as possible to bring down the price.”

***

A month later, Park Sang-wook visited the Ministry of Finance building in Hanseong.

“This is the fifth visit…”

Park Sang-wook’s quietly muttered words were full of desperation.

As he said, this was his fifth visit to the Ministry of Finance.

“This is beyond my level of authority. I’ll send word, so could you come back in a few days?”

With such words, Park Sang-wook had to keep visiting the Ministry of Finance. And each time he returned, he had to talk with someone higher up.

“Again, at my level…”

“Hmm… I’ve reviewed it, but it’s difficult for me to decide…”

“There’s a lot of talk, so it’s been decided to make the decision at a higher level. Come back when you’re called.”

“Follow me.”

Guided by an official, Park Sang-wook arrived at Kim Jeom’s office.

***

Upon seeing Kim Jeom’s face, Park Sang-wook bowed at a 90-degree angle in greeting.

“I pay my respects to you, Your Excellency. I am Park, who runs the Park Family Merchant Group.”

“Sit there.”

“Thank you.”

Kim Jeom, who had offered a seat, sat opposite Park Sang-wook and opened the relevant report.

“Hmm… Let’s see…”

After examining the report, Kim Jeom asked Park Sang-wook a question.

“So… You want to acquire a large ship used by the navy?”

“Yes.”

“Why a large ship?”

To Kim Jeom’s question, Park Sang-wook explained the reasons in detail.

After listening to Park Sang-wook’s explanation, Kim Jeom soon checked the contents of several types of reports and nodded.

“Hmm… I see… Then, what the merchant group leader wants is a challenger-class warship.”

“By challenger-class large ship, do you mean the largest warship?”

“That’s right.”

“Yes, that would be the best.”

At Park Sang-wook’s answer, Kim Jeom immediately got to the point.

“Do you know how much it costs to build one of those ships?”

“I’ve heard rumors that it costs 100,000 nyang of gold…”

“These days, it’s 68,000 nyang of gold. The production cost has decreased a bit as we’ve been able to secure large quantities of quality timber. With the cannons added, it’s about 110,000 nyang. Can you manage that?”

“110,000…”

“And that’s in gold.”

At Kim Jeom’s words, Park Sang-wook continued with a pale face.

“What our merchant group wants is not a warship, but a merchant ship. We don’t need to carry cannons. Please remove that part.”

“How will you ensure safety without armaments?”

“We can move along with the regular service to Alexandria.”

“You mean to tag along? Hmm…”

As Kim Jeom trailed off, Park Sang-wook spoke more earnestly.

“What I want is a merchant ship. A ship that benefits from carrying more cargo in place of cannons. Of course, it may not look good to tag along with the navy, but as a merchant seeking profit, we have no choice.”

“I understand, but His Majesty won’t easily allow that.”

“Then please allow us to carry a minimum amount, and have the navy be in charge of operating the cannons. Isn’t it already the law that only soldiers can handle cannons?”

“That’s a good idea!”

Kim Jeom showed a positive reaction to Park Sang-wook’s proposal.

After writing something on a piece of paper next to him, Kim Jeom said to Park Sang-wook.

“I’ll contact you again soon. I’ll do my best to get a good answer.”

At Kim Jeom’s words, Park Sang-wook stood up abruptly and bowed.

“I am truly grateful!”