[078] A gloomy new year for someone 1
“To save money, you need to know that pennies are precious. And maybe not again? Will there be a guy like Jerry Yang from Yahoo?”
It seems that quite a few ventures are knocking on Miracle’s door. He also showed his uncle’s heartfelt hope that the US IT boom would be reproduced in Korea.
“Then, invest a little bit where your uncle wants. You can earn money for side dishes.”
Let’s just stay still, the company that can make money hasn’t even appeared yet. Perhaps the founding members are gathering in a warehouse or something, eating cup noodles for a meal, and working hard on development.
Of the things I remember, the only ones that have appeared now are Nexon’s Land of the Wind, which started service last year, and NCsoft’s Lineage, which started this spring.
If you don’t jump on the venture craze and hit and run in a short period of time, investing in other companies will only cost you money. What should I do?
“Do-joon. Don’t be mistaken.”
“yes?”
“Do you feel like you have become the chairman of a chaebol after meeting the real power of the government and handling billions of dollars and trillions of won?”
“uncle.”
“Shut up and listen.”
This is the first time Oh Se-hyun has seen this kind of appearance in 10 years.
There was a bit of contempt in the hard expression and the eyes that glared at me.
“Your grandfather, Chairman Jin, will directly manage only the trillion-level business. Eating with the powerful people of the regime and taking advantage of hundreds of billions of dollars. That is what chaebol presidents do.”
It is also what I am doing now. But why are you so angry?
“But they have tens of thousands of servants who earn money for side dishes. With the money they earned every penny or two, they would take over the steel mill and build a factory in China.”
Oh, I think I know what you’re trying to say.
“Without a servant there is no master, and without peasants there is no landlord. Without people, there is no king. But what about you? There are no servants, peasants, or people. It’s all about holding some money. But are you impersonating the president of a chaebol already?”
There was nothing to say, even if it wasn’t to shut up.
For the first time in 10 years, I, who used to be a farmhand, would imitate a conglomerate. Even if it wasn’t for Oh Se-hyun’s stinging needle, I wanted to stab myself.
I never thought I would be so arrogant.
“Side dish price? You can make billions of billions of dollars. Is that the price of a side dish?”
“sorry. My thoughts were short.”
Oh Se-hyeon seemed rather taken aback by my quick apology, but quickly straightened his expression.
“It’s good that you understand quickly. I wish I knew.”
Oh Se-hyun, with a slightly embarrassed expression, nodded.
“Then where should I invest?”
“yes? It’s just what my uncle decides…”
“No. I can decide the direction, but I like your investment judgment and feeling better. Just tell me. Are you attracted to anything?”
“Then put 1 billion each in two places on the online game side, and your uncle decides the rest.”
“It’s a game…”
Oh Se-hyeon cleared his mind for a moment before opening his mouth.
“Let’s spend 10 billion in total. Both are games as you say. I’ll diversify the investment by keeping the rest up to 1 billion or less.”
“is it so. Even if one explodes, we’ll break even, right?”
“You just heard. The next government will foster IT, but will one explode?”
Oh Se-hyun’s expression, smiling brightly, was very nice to see.
It’s a pity that such a grateful person will retire in five years.
I really need to make a generous severance pay.
* * *
The winter of 1997 was really cold. It was the only winter in which Christmas carols were not blaring in the streets.
With three days left in December, he put on a suit once again to fight the last war of the year.
“The business card came out. Take care.”
I was trying to meet people, so I couldn’t do it without a business card.
After much consideration, he disguised himself as an employee dispatched from Miracle’s US headquarters. A young Korean-American 2nd generation who manages the investment system at the head office.
It also has the effect of threatening that the present Korea is dangerous enough to be dispatched from the headquarters.
Seeing the English name, Howard Jean, reminded me of eight years ago when I flew to Texas to invest in Dell Computer.
vivid as if it were yesterday
“I feel proud when the first business card comes out. It seems like everything is big. Hehe.”
“is that so? It feels a bit odd.”
“Let’s enjoy that feeling later and leave quickly. I will wait for the creditors to lose their eyes.”
We set off to the promised place where the main creditors of Ajin Group are waiting. For today, I put my head together with Oh Se-hyun and made a plan.
It is to mercilessly beat the acquisition price.
Shouldn’t you be saving a penny?
# # #
The general manager-level executives of the three banks and their assistants greeted the two of us nervously in a large conference room.
A good poker face isn’t the only thing you need. You have to keep a poker face even when the stakes run dry and shit cards come in.
However, the creditor group, mainly composed of banks, seemed insufficient to sit at the gambling table.
I can’t hide the fact that I’m already lagging in my facial expression, tone of voice, and actions.
The most important thing in the world is the people who were comfortable in the super-gap bank, where they were always shouted out and treated with money.
I’ve never been hit by such a knife wind before, so I’m shivering in the cold while naked.
The young man who came with the representative looked at me wondering if I was strange, but the interest quickly faded.
With CEO Oh Se-hyun, I won’t be interested in whoever I am.
“I heard that discussions on the merger with Sunyang Motors are completely over. How about starting the acquisition process now?”
As soon as they are hugged without a chance to catch their breath, they start urging. And that urge was directed only to Oh Se-hyeon.
“The agreement has not been signed yet. Because the Sunyang Group is adjusting its stake.”
“When will that end?”
“Why are you asking us questions that should be thrown at Sunyang Group?”
Oh Se-hyeon and I were thinking about how much we would charge for a coat for those who couldn’t stand the cold as we lazily sipped our coffee.
“The chairman of Sunyang Group, Jin, also gave me a word. The agreement has already been reached, and all that remains is the process.”
“That’s not all.”
When I put my coffee cup down and opened my mouth quietly, their eyes focused on me.
“Excuse me, but who is this…?”
“Ah, the US headquarters urgently summoned me. I am in charge of and directing this merger and acquisition case.”
When Oh Se-hyeon floated me up, the creditors seemed a bit surprised.
Don’t you look too young?
A couple of people from the bank took out their business cards and gave them a sneak peek at me. They must be curious about my position or rank.
Also, these guys are trying to see if I’m worthy of being in this position.
Then I handed out my business card and they agreed when they saw my business card.
It’s America, don’t the blue guys run Wall Street?
I lightly bowed my head to the creditors.
“Howard?”
The creditors exchanged glances with each other as they repeated my name.
“I am a second-generation Korean, so I use my English name. please understand.”
“okay. Keep saying what you said.”
“yes. Our investment review team is currently reviewing this acquisition closely.”
Once the bait was thrown, the expected reaction poured in.
“what? Re-examination?”
“No, come and review it now. What is that…!”
The burning eyes of the startled creditors turned to Oh Se-hyeon. I threw the bait, but they instinctively continue to look only at the boss.
Banks follow the iron rule of not dealing with sex workers.
“That’s right. I tried to dissuade them several times… but as you know, American kids just follow the system and don’t listen to the boss.”
Oh Se-hyeon shrugged and then raised his hand and pointed at me.
“Due to the company system, I also pay attention to this friend. Because we hold the opinions of Miracle’s American investors. So listen to this friend until the end.”
I started to pull out a hem of pansori on the mat Oh Se-hyeon spread.
“The first scenario was like this. Sunyang Group wanted Ajin Motors, but they used up all their money to acquire Hando Steel. That’s when our Miracle appeared. I was thinking of holding Ajin Group for a while and then selling it at a very high price when Sunyang Group raised money. I’m sure everyone can guess by this point.”
The creditors looked uncomfortable. It’s because when he learned that Miracle’s purpose was money, he realized that getting what he wanted wasn’t easy.
“But… I never thought a foreign exchange crisis would break out in Korea. Acquisition amount 1.2 trillion won. When the exchange rate was 800 won, it was 1.5 billion dollars and 1800 won, but now it is only 670 million dollars. What if it goes up to 2500 won? $480 million!”
When the exchange rate was mentioned, the creditors poured out needy words with pale complexions.
“IMF aid has started. Two billion dollars have already come in, so it won’t go up to 2,500 won. Now it will fall below 2,000 won and it will stabilize soon…” “
I promised $55.5 billion, but only $2 billion came in. Since the regime has changed, they will try to negotiate again with the new regime. 50 billion dollars…. no word on when it will come in. It might go up to 3,000 won next year.”
The creditors couldn’t open their mouths anymore.
“But the day after tomorrow will be 98 years. You have to settle your accounts for this year, but if you look into the ledger, you won’t get an answer. When the new government comes in, it will probably start merging banks…. To survive, the dollars held by Miracle must go into the banks before the end of the year, right?”
Exporting companies earn dollars, but importing companies need dollars. If you hold the dollar now, all these companies flock to you.
Demands for dollar payments from foreign banks are piling up.
In this economic crisis, the need for large banks is always on the rise, and the next government will undoubtedly hasten consolidation based on this year’s performance.
“However, from Miracle’s point of view, Korea is uneasy. What if you can’t come back? What if the Korean economy plummets to the level of Southeast Asia?”
“So what do you want to say?”
“We are ‘priority negotiators’, but we want to give up that qualification.”
“What is it?”
“I mean we are going to drop out. If we give up the acquisition of Ajin Group, wouldn’t Daehyun Group step in? Negotiate with them.”
Can Daehyun Group step out? Are you too busy trying to put out the fire that fell on your feet?
“Hey, don’t look at me. American investors, the owners of money, are anxious about Korea, so what can we do?”
Oh Se-hyeon trembled, pretending to be burdened by the eyes of the pouring creditors.
If any of these guys are smart enough, they’ll know what to do.
Cash is dried up, and a large, unsold, malicious stock suddenly settles down and rots inside.
It’s best to process it quickly, whether it’s half price or shivers.
This simple principle applies equally to hole-in-the-wall stores, large corporations and banks.
“Change the minds of American investors. Our Republic of Korea is not that weak. Both in terms of economic scale and competitiveness…”
I said with a little sneer when one of the bank executives spoke urgently.
“That’s what the Korean government said before the foreign exchange crisis broke out. Isn’t it?”
they shut up There will be nothing to say other than the same excuse.
At this time, Oh Se-hyeon sneaked in and started a fire.
“Aren’t you supposed to make a big decision?”
“yes? A decision?”
Oh Se-hyeon made a phone shape with his thumb and little finger and flicked with arrogant eyes.
“Call the chiefs. Because the person who makes the decision is the president.”
Executives are also motherfuckers. Now is the time for the owner to step in.
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