1979, Manager Kim is Inheriting Dictatorship! - Chapter 155



Only Krnovel

Episode 155

MVIDIA.

If you look at it now, it’s not that great of a company.

Current market capitalization: $5.2 billion.

Although it may be said to be small in scale, it was not a large company either.

In terms of market capitalization, it was a company that was not even in the top 100 on NASDAQ.

There were already more than 20 IT companies of this size in Korea.

But in the not-too-distant future, this company will grow at a truly tremendous pace along with the development of the AI ​​industry.

MVIDIA was the most important company in the AI ​​industry, which is the most important core of the future IT industry.

Moreover, the AI ​​industry is not simply a single IT company in the near future, but is also a business directly linked to the country’s overall competitiveness.

Unlike Qupple, it was not a simple stock acquisition, but rather a move to transfer the entire company, as the AI ​​industry is a business directly related to national competitiveness.

As time passes and it gets bigger, it will definitely become more difficult to move.

We had to move when not many people were paying attention yet.

‘You should bring him while he’s still small. It won’t be easy if he gets bigger and gets the attention of the US government.’

* * *

MVIDIA’s Chairman Jensen Huang is the ideal CEO.

He is charismatic, passionate about his work, and adept at making innovative decisions.

As the founder of a company, he was not someone who simply hoped for immediate profits.

He was also a man who knew how to invest in increasing corporate value in the distant future.

Unlike CEOs like Qupple, he was a very humane person to his employees.

In fact, throughout its history, MVIDIA has always been a company that treats its employees well and has been ranked high in rankings of the best companies to work for in the world.

While many CEOs of big tech companies are so bad that they are said to be sociopaths when it comes to treating their employees, Chairman Hwang is a CEO who is evaluated quite well by his employees.

I welcomed Chairman Hwang with the same treatment as the president of a foreign country.

The Minister of Foreign Affairs personally went to the airport where he arrived to greet him, showing great care.

As soon as he gets off the plane, a government vehicle picks him up and takes him to the Blue House.

“You arrived? Got it.”

The chief secretary receives the report by radio and reports it to me.

“Mr. President, Chairman Jensen Huang has arrived.”

I went out the door and greeted him as warmly as I could.

“Hello, Chairman Jensen Huang!”

I took his hand and welcomed him warmly as if I had met a friend of thirty years.

Perhaps because he was so welcomed, he looked a little embarrassed.

“Hello. This is Jensen Huang, CEO of MVIDIA.”

He wasn’t the white-haired man I knew, but his trademark leather jacket was still there.

“Please sit comfortably.”

He sat down, looking slightly wary.

I started a conversation by pouring him the tea I usually drink and handing it to him.

“This is the tea I drink often. It is a tea from Baekdu Mountain in Korea. I hope you like it.”

“thank you.”

He slowly picked up the tea that was on the table.

Then, the tense expression on his face eases a little.

“How is it? Does it suit your taste?”

Chairman Hwang savors his tea and his expression changes to a gentle one.

“Yes. It smells good and tastes good.”

“That’s fortunate.”

I put the tea I was drinking down on the table and started the conversation by complimenting him.

“It’s such an honor to meet you like this. I’ve been interested in the company called MVIDIA for a long time. I’ve also been keeping an eye on Chairman Jensen Huang’s outstanding management skills. In particular, I was quite impressed by the way he took care of his employees in the midst of the fierce American IT companies.”

He seemed slightly moved, and tears welled up in his eyes.

“I don’t think we are a very large company yet, but I am honored that the President of Korea has recognized us.”

When he answered humbly, I smiled and gave him another pat on the back.

“Haha. It’s not a big company. Of course, if you only consider the size, MVIDIA may still be a small company, but when you think about future growth, MVIDIA is definitely not a small company. I think Chairman Hwang can make MVIDIA grow even bigger in the future.”

“Hahaha… Thank you.”

He bows his head in gratitude.

‘It’s definitely a bit different.’

I’ve met many CEOs over the years, but this is the first time I’ve met this type.

It felt different from the CEOs of companies like Qupple’s Jobs or Nanosoft.

I took another sip of my tea, then grabbed a file from the desk and handed it to him.

“Why should I delay? Let’s get straight to the point, Chairman Hwang. This is what our country, Korea, is proposing regarding the relocation of MVIDIA to Korea. Please take a look.”

Chairman Hwang receives the files and reads them one by one.

And then soon his eyes widen.

“How are you?”

He asks in a trembling voice.

“Really, is it okay for the conditions to be this good… … ?”

The conditions proposed by Korea were that if MVIDIA moved its headquarters and research center to Korea, the company would be provided with land and Korean permanent residency and housing for its key engineers.

30% tax reduction for 10 years after relocation of headquarters and research institute, technology sharing with Samjung Electronics and Qple as a first-tier partner of Samjung and Qple.

It also states that the Korean government will bear all costs incurred in the event of voluntary delisting.

In fact, it couldn’t have been better for MVIDIA than this.

“We are making a company like MVIDIA, a company with infinite potential, a Korean company. I think this level of treatment is a given.”

Chairman Hwang, who had heard everything I said, put down the file he was looking at.

And then, in a voice full of worry, he confides in me one of his worries.

“Whew… Mr. President. The conditions are actually very good. However, there is one big problem.”

“Big problem? What is it?”

“Ultimately, if we move the headquarters, we need the approval of the board of directors, but currently, my friendly stake is around 35%. This is not enough.”

‘It was a share issue. You’re worrying about nothing.’

I smiled slightly and told him not to worry.

“Haha. Don’t worry.”

“Is there any way?”

I took another sip of my tea and asked him if he knew about the KI Fund.

“Mr. Chairman, have you ever heard of the KI Fund?”

Chairman Hwang nods and answers.

“KI Fund, of course I know. KI Fund holds 20% of our company’s stocks.”

I told him about the identity of the KI Fund.

“The actual owner of the KI fund is actually our Korean government.”

“Is that true? As far as I know, the actual owner of this fund is Norway… Isn’t that right?”

“The ownership is a bit complicated, but it is a fund created with capital from our government. However, we are trying to hide our identity a bit and are laundering our nationality.”

Since the last US intervention, many of the capitals held by the Korean government have been laundered into forms of unknown nationality or other nationalities.

And most of these funds were hiding in the US asset market, disguising themselves as US or European capital.

‘Then, if we combine them, it would be 55%… If only the friendly shares could be moved for sure… ‘

Chairman Hwang thinks for a moment and then speaks to me.

“If only the KI Fund approves, I think it will pass the board of directors without any problems. However, I wonder if the friendly shares will move 100% as I wish… … .”

I reassured him not to worry.

“It’s not just the KI fund. The amount held in the name of the sovereign wealth fund is close to 10%.”

At this point, there probably won’t be any problems.

Even if everyone else is against it, there is no problem with passage.

Chairman Hwang is impressed.

“That’s amazing. I never thought that the owner of the KI fund would be the Korean government. I heard there are quite a few funds in the US these days whose origins are unclear. Are these also owned by the Korean government?”

“Haha. Well.”

I dismissed his question with a mild laugh.

‘There’s no need to tell you everything.’

To change the subject, I asked Jensen Huang a question.

“Are you also considering voluntary delisting?”

Listing on the US NASDAQ would have been fine, but if we wanted to make it feel more like a Korean company, listing on the KOSPI after voluntary delisting would have been one way.

He answers, shaking his head.

“I’m not thinking that far ahead. Compared to Korea, the US has stricter delisting requirements. If they find out that Korean capital is involved in the middle, there’s a high chance that it will be returned.”

‘Rather than being rejected for no reason, it would be better to just move the headquarters and research center to Korea.’

I nodded.

“I see. Well, come to think of it, I wonder if it was really necessary to go as far as delisting. If the headquarters are in Korea and Korea has a large stake, that’s enough for us.”

A little more detail is given and after a while, Chairman Hwang asks me in a serious voice.

“Mr. President, does the Korean government have any intention of interfering with MVIDIA’s corporate activities after the relocation of its headquarters?”

In short, the question was whether there was room for the government to intervene in one’s management activities.

I cut it out and nailed it down hard saying no.

“No. That will never happen. Even if it becomes a Korean company and Korean capital is invested, we will not intervene in any particular way. Chairman Hwang can continue to focus on the business he was doing. If we were going to intervene in the first place, we would have purchased a little more shares and operated it under our government.”

Chairman Hwang is reassured by my story.

I gave him a piece of advice to put him at ease.

“However, it would be better if the research and development were a little faster. Perhaps in the near future, MVIDIA could grow into a huge company faster.”

He said that, of course, MVIDIA’s top priority is still research and development.

The current pace of technological advancement is at least five to ten years faster than in my time.

That is why, going forward, MVIDIA also needed to increase its development speed a little more accordingly.

‘The problem is that the development may come sooner than you think… … .’

* * *

Evening comes and dinner time follows.

At first, this kind of treatment seemed burdensome to a CEO of a small company, but after a drink or two, he soon seemed to be able to enjoy this kind of grand welcome.

Chairman Hwang took a drink or two and asked me a question while still slightly drunk.

“Mr. President, I have a question for you. Is that okay?”

“Yes. Feel free to ask.”

He asked me with a look of genuine incomprehension.

“Why are you investing so much in Mvidia? No matter how much I think about it, I can’t understand it. The business we’re doing right now actually has some limits to its growth.”

At this point, he had no choice but to think that way.

This was natural, as the AI ​​industry had not yet emerged.

No matter how confident he always was, he couldn’t understand Korea’s attitude right now.

It was difficult to understand that the president of Korea, the world’s second largest economy, would personally meet with a company worth just over $5.2 billion and say this.

“I think MVIDIA will lead the global IT market in the near future, like Samsung Electronics, QPL, and Nano Soft. And Chairman Hwang will be among them.”

“Mr. President… … .”

His eyes become moist.

Then he immediately bows his head and thanks me.

“Thank you. Since we’ve come this far, I’ll do my best!”

I also answered while holding the hand of the man who will lead the IT industry of the future.

“I am the one who needs to take good care of you, Chairman Hwang.”