Though Jinpyeong answered confidently, Hyang didn’t forget to offer advice.
“It’s been just over a year since the Northern Territory became part of our domain. While the Jurchen people in regions that became our empire’s core territory (本地, bonji) during the early reforms aren’t much concern, those who have just been incorporated as our imperial subjects are different.”
Jinpyeong immediately responded to Hyang’s counsel.
“They were once united with us during the Three Han period and the North-South States era. Though there was conflict between our previous dynasty and those who succeeded the northern Balhae after its fall, now we are one again, so they will adapt quickly. Moreover, we have the empire’s powerful army standing guard.”
“Still, don’t forget to exercise special caution. Especially given your personality – you’ll start moving on site as soon as preparations are complete, won’t you? Remember that you are a member of the imperial family. You understand what I mean?”
At Hyang’s words, Jinpyeong prostrated himself in gratitude.
“I am overwhelmed by Your Majesty’s concern for this humble servant!”
“This guy…”
Hyang’s inner thoughts about Jinpyeong were quite complicated.
Considering the history I know, he’s someone who requires the utmost caution, but looking at his behavior so far, he’s like watching a clueless late-stage otaku younger brother… It’s confusing, so confusing!
Being a late-stage otaku himself, Hyang felt a strange sense of kinship.
Whether aware of Hyang’s thoughts or not, Jinpyeong made a proposal.
“Your humble servant wishes to make a request to Your Majesty regarding the safer and smoother operation of railways in the Northern Territory. Please graciously consider it.”
“I’ll hear it before deciding.”
“Please allow us to use the name ‘Dragon’s Path,’ which the Jurchen people previously used to refer to the railway.”
“‘Dragon’s Path’?”
“Yes.”
“Hmm…”
At Jinpyeong’s request, Hyang began to ponder.
Let’s see… They say there are still people who perform rituals beside the railway whenever something happens, right? Now that we don’t need to mind Ming’s reactions, wouldn’t it be fine?
After contemplating for a while, Hyang made his decision.
“I approve.”
“Your grace is boundless!”
“Is there anything else you need?”
“While time is one thing, regarding the budget…”
“Hey, you fool!”
Hyang shouted at Jinpyeong’s words.
“We haven’t even set the budget yet, and you’re already asking for more!”
At Hyang’s scolding, Jinpyeong awkwardly laughed it off.
“Haha… It’s become a habit… And the Finance Ministry is always so tight with the budget…”
“Save that for when the time comes! Get out!”
“Yes, Your Majesty!”
“Wait!”
Stopping Jinpyeong as he was about to bow and leave, Hyang threw out another piece of bait.
“Remember, you’ll only get to handle New Frontier if you do well with the Northern Territory.”
“I shall carve it into my bones and heart!”
After sending Jinpyeong away, Hyang let out a long sigh.
“Whew.”
Watching that guy’s actions, that nonsense dream might not have been nonsense after all…
Hyang still couldn’t forget the dream about the “Gyeyu Iron Rebellion.”
***
Leaving Gyeongbok Palace, an excited Jinpyeong headed for Area 51. Upon entering the “Railway Corporation Research Institute” located within Area 51, he immediately issued orders from his seat.
“Call all the survey team leaders!”
“Yes, sir!”
“And summon all the steam engine research team leaders too!”
“Yes, sir!”
Before long, everyone Jinpyeong had summoned gathered in his office.
“Is everyone here?”
“Yes, sir!”
Jinpyeong looked at each of their faces before speaking.
“His Majesty has finally given permission.”
“Oh!”
“At last!”
At Jinpyeong’s words, those gathered in the office clenched their fists in joy.
Birds of a feather flock together, as they say. Since Jinpyeong had officially taken charge of steam engine and railway operations, similar railway enthusiasts had gathered around him.
They were the kind who delighted in creating the steam engines and carriages they loved, laying tracks, and watching the iron horses run along those rails.
Jinpyeong issued orders to these people.
“I’ll send a cooperation request to the Defense Ministry, so the survey teams should gather and analyze all available information about the Northern Territory. If we do things properly from the start, we can reduce mistakes along the way.”
“Yes, sir!”
“Keep in mind that proper surveying is crucial to prevent merchant groups contracted for construction from cutting corners!”
“Yes, sir!”
“Don’t worry!”
“If we find any such bastards, we’ll beat them into shape!”
***
The survey team leaders, or rather the Railway Corporation’s survey teams, were notorious.
Surveying for railway construction routinely involved entering all sorts of treacherous terrain. During this period, Joseon and surrounding regions were still dominated by fierce predators like tigers and bears just a short distance into the wilderness. Working in such dangerous conditions among fierce beasts had made these surveyors extremely tough. Moreover, since accurate surveying and documentation were essential for proper railway construction, the survey team members were meticulous to the point of obsession.
As a result, whenever construction merchant groups showed even the slightest sign of cutting corners, the survey teams would immediately notice and force them to tear everything down and start over. This had happened more than once or twice.
Thanks to this track record, the government began deploying Railway Corporation survey teams for all major civil engineering projects. Consequently, construction merchant groups had to deal with both Ministry of Land Development officials in charge of supervision and Railway Corporation survey teams – like having both a mother-in-law and a sister-in-law watching over them.
***
“While I’m not worried about the survey teams, how is the new steam engine research coming along?”
“The prototype will be ready soon!”
“As I’ve said repeatedly, the Northern Territory is unimaginably vast. Our existing steam engines can’t handle that scale. We need engines that are more powerful, faster, and can travel further!”
“Don’t worry! You’ll be satisfied!”
Nodding at the research team leaders’ confident responses, Jinpyeong continued.
“His Majesty said that New Frontier will only be possible if we show good results in the Northern Territory! Don’t forget this!”
“Yes, sir!”
“Now get out there and get moving!”
“Yes, sir!”
With energetic responses, the team leaders left Jinpyeong’s office. Alone in his office, Jinpyeong muttered while looking at a map hanging on one side.
“If we succeed with the Northern Territory, New Frontier’s map will be added next.”
Jinpyeong’s eyes blazed as he looked at the map.
“I have no intention of ending up as just another grand prince! I will definitely leave my name in this empire’s history. I won’t covet the throne since we have incomparable figures like Father and Brother as rulers! Especially with Brother there, if I became ruler, I would only leave behind an infamous or ominous name – absolutely unacceptable! I will carve my name in history through steam engines and railways! I’ll leave behind not infamy or ill repute, but a legacy of greatness!”
If Hyang had heard this, he would have reaffirmed his conviction that ‘it wasn’t just a dream!’ as Jinpyeong renewed his determination.
***
The next day, Hyang issued orders to Kim Jeom and the Finance Minister.
“…Therefore, Left Deputy Prime Minister and Finance Minister, please allocate an appropriate budget for implementation starting next year.”
“We receive your command.”
While Kim Jeom accepted with a calm expression, Park Jong-wu spoke up with a somewhat worried face.
“This was certainly necessary since the Northern Territory has become part of our empire. However, my concern is funding. A railway network covering the entire Northern Territory will require enormous capital, and the situation with Ming and the Western Regions isn’t good.”
After briefly considering Park Jong-wu’s concerns, Hyang offered a solution.
“Let’s release thirty percent of the Northern Territory railway shares to the investment treasury.”
“You mean railway shares, Your Majesty?”
“Yes.”
At Hyang’s response, Kim Jeom voiced his opposition.
“While there would be great interest considering the potential profits from the railways, is this really necessary? This might lead to demands for shares in other state monopolies. Moreover, those who acquire shares will try to interfere with management using their stake. We might face criticism that we’re just fattening the rich by sucking the blood of the common people.”
“The Left Deputy Prime Minister speaks the truth.”
Park Jong-wu supported Kim Jeom’s argument. In response to their opposition, Hyang explained further.
“Having adopted ‘Benefit Broadly All Humanity’ as our national motto, demands to open state monopolies to the private sector are bound to arise.”
Kim Jeom and Park Jong-wu looked puzzled at Hyang’s words. As Hyang was about to provide additional explanation, Hwang Hui stepped forward.
“They will argue that while our national motto states ‘broadly benefit humanity,’ the state is taking wealth that should go to the people through monopolistic enterprises. Thus, they’ll demand privatization of state-run businesses.”
“Ah!”
At Hwang Hui’s explanation, the ministers all wore expressions of sudden realization. Education Minister Lee Sachul raised his voice in response.
“That’s preposterous! Most state monopolies produce essential goods for the people or supply vital materials. Therefore, such arguments are nonsensical. Firstly, these enterprises are monopolies precisely because of their characteristics you just mentioned. If they fall into private hands and price controls fail, the people will suffer greatly. That would truly violate our national motto. Secondly, even if we release shares to the private sector, most would be acquired by a tiny minority with great wealth, who would then reap most of the profits. This too would violate our national motto!”
To Lee Sachul’s passionate objection, Hwang Hui calmly replied.
“Many of our people already know that the imperial and state monopolies generate substantial profits. Thus, many would be swayed by questions like ‘Where did all those profits go? To whom? Let’s privatize state monopolies so the people can share in the profits.'”
“Couldn’t we simply publish annual profit and loss statements?”
“Wouldn’t the enormous profits be the first thing to catch people’s eyes? If anything, this might give more ammunition to those seeking to deceive the masses.”
“That’s…”
As Hyang observed Lee Sachul’s frustrated expression and Hwang Hui’s calm face, he muttered internally.
Both the right and left used this issue to seize power.
In the world history Hyang knew before his intervention, many had seized power under the motto of “creating new revenue streams through privatization and efficient economic operation,” while others had done so promising “a society sharing all profits through complete nationalization of industry.”
Ultimately, both sides shared the common fate of failing to achieve a good ending.
Listening to Lee Sachul and Hwang Hui’s discussion, Hyang quietly joined in.
“Would you mind if I explained further?”
The ministers unanimously responded to Hyang’s words.
“We will listen attentively, Your Majesty!”
Hyang began his explanation immediately.
“This is why we set it at thirty percent. With the state and imperial family retaining seventy percent, those holding thirty percent cannot interfere with management. Ah! We could also add special provisions! For instance, ‘Shareholders may receive profit distributions but cannot exercise management rights.’ And I’m considering restrictions on purchasing these thirty percent shares. No matter how wealthy, one person cannot purchase more than 0.5 percent. Also, purchase eligibility would be limited to adult men and women, and shares can only be bought at investment treasuries in one’s place of residence. For those who have moved from other regions, they must have resided in the area for over five years to be eligible. These are my initial thoughts – what do you think?”
The ministers began considering various possibilities after hearing Hyang’s explanation.
After a while, Hwang Hui spoke as their representative.
“We believe proceeding according to Your Majesty’s proposal would be best.”
“There are quite a few loopholes, though?”
“Isn’t addressing those our responsibility as your servants?”
Hyang nodded with a smile at Hwang Hui’s response.
“Then let’s proceed. I’m counting on all of you.”
“We shall do our utmost!”
The court historian recording all this added a note:
-Thus did the ministers accept the Emperor’s proposal.
The historian notes:
- People’s pursuit of wealth is like instinct and should not be condemned if laws are not broken. However, the concentration of wealth among a few is problematic, so the Emperor’s move to prevent this is truly righteous.
By the way, how much was in my account last time I checked?
As the historian was recording this, Hyang’s voice reached his ears.
“Hmm… We should definitely bring in typewriters as soon as possible.”