Choi Kyu-sun translates Alwaleed biography

Billionaire Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsau, right, speaks to Choi Kyu-sun, chairman of UI Energy, during the latter’s visit to the prince’s residence in Saudi Arabia. Choi recently translated and published an English language biography of the prince, who he came to know in 1995 through the late Michael Jackson and has remained friends with ever since. / Courtesy of UI Energy

Korean friend

gives new dimension

to Alwaleed feats

By Oh Young-jin

The recent Korean translation of billionaire Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud’s biography offers a story about two people — its protagonist and its translator — forged through friendship.

The biography, titled “Alwaleed: Businessman, Billionaire, Prince,” is an authorized version of the prince’s life story — a rags-to-riches tale starting from humble beginnings with $30,000 seed money to become the “Arabian Warren Buffett” whose investment portfolio covers Citigroup, Apple, 20th Century Fox and CNN.

The prince has also vowed to donate all his wealth for global causes.

The biography, 10 years after its first hard-copy was released, reveals another dimension to the man. His true reason for the book is not bragging rights but, on a bigger scale, to show his Arab sense of confidence and pride to the rest of the world.

The biography is a combination investment guide, pep talk and religious text but, most notably, his triumph in overcoming cultural prejudices.

Through his Kingdom Holdings, he wields incomparable clout on Wall Street, the heart of Western capitalism, competing against and collaborating with “native investors.” For instance, he has become the largest individual shareholder in Citigroup in just 10 years since he started investing.

Now he is building the world’s tallest tower (1,080 meters) in Jeddah. Scheduled for completion in 2017, the tower follows the 303-meter-tall Kingdom Tower in 2004. He started in a single-story “shipping container” office. His rise is well captured in four photos rearranged by publisher Gimmyoung from the original book.

Reading the biography gives Koreans a chance to assess any stereotypes they may have about Arabs and their culture. The prince’s relationship with Korea dates back to 1998 and the height of the currency crisis. At that time he made some hefty investments into cash-strapped conglomerates.

Daewoo Group founder Kim Woo-joong, Jeju Governor Won Hee-ryong and Sohn Jie-ae are among those who compliment the new translation. It also has been translated in Japan and China.

Making the book even more interesting is that Choi Kyu-sun, a businessman at the center of a big political scandal in the early 2000s, translated it.

The belated translation serves as Choi’s tribute to his friend and mentor who, as outlined in the foreword, helped him overcome his difficulties to make a comeback. “It was the prince who called me first and encouraged me, when I was so discouraged by a worsening turn of events and couldn’t find the courage to do so,” he says.

The sub-title for the Korean translation is “Water starts to boil at 100 degrees Celsius,” a reference to the conversation Choi had with the prince. The Prince was quoted as saying, “What is the temperature of your dream and passion? Set at 100 degrees. When you get there, nothing is impossible. To stay at 99 degrees or to reach 100 degrees, just one degree makes the difference, success or failure.”

It is worth asking the same question, when you are down and out, and need some encouragement. We should not give up the fight, just one degree short of winning.