The Magician’s Memorial - Chapter 116



Only Krnovel

Episode 116 Craze (5)

Row when the water comes in.

Taewoong Communications was a huge hit with its online lectures for students.

In order to listen to the lectures of Ilta instructors, parents even signed up for Taewo Telecommunications first, and both students who liked games and students who wanted to study preferred Taewo Telecommunications.

It’s a shame it just ends like this.

Although this happened when other telecommunication companies attacked us, we had to make the most of this opportunity.

“I need to expand the scope of online lectures.”

“We will expand the scope of our classes to elementary and middle school students.”

“Why are you going down? “You have to go up.”

“When you say above, do you mean a lecture for college students? However, if you want to teach college students, you have to recruit a professor-level person. Is that possible?”

Lee Ju-young, CEO of Taewoong Communications, did not understand what I was saying at all.

Just because it was a lecture for college students, there was no need to limit it to their major field.

“Why do you go to college? “You may be going there to gain broader knowledge, but in the end, aren’t you going there to find a job?”

“University serves as a gateway to employment.”

“So, we need to start offering online lectures aimed at the job market. “Wouldn’t the number of subscribers increase significantly if we target fields with many applicants, such as civil service exams, police, and real estate certification?”

The Internet lecture market was quite large.

In particular, as employment became difficult due to the foreign exchange crisis, many students were preparing for the civil service exam, so now was the right time.

“If it’s a lecture for civil servants, you can hire a lecturer from Ilta! “I will move to Noryangjin myself.”

“And also promote IT-related online lectures.”

“These days, the IT industry is booming, so the number of students seeking to obtain related certifications is increasing, so it should be effective.”

“Please pay particular attention to certification lectures related to Linux and Java.”

Most of the apps for future smartphones will be created in Linux and Java.

There was a need to cultivate many relevant talents not simply for the benefit of Taewoong Communications, but also for the future.

“There are quite a few Linux and Java experts in the IT department. In particular, employees who have been trained in the United States are quite proficient in Linux.”

“Hmm, how about doing this? The Linux and Java competition is being held at Taewoong Communications. And the top winners are given jobs in the IT department.”

Taewo Group has always been ranked in the top 5 in college student employment preference surveys.

But what if you are given the opportunity to join Taewo Group even though it is not the job hunting season?

“The competition will be very fierce. “Rumors are already spreading around universities that the IT department’s salary is higher than that of employees at other affiliates.”

“In addition, you can pay up to a year to study in the United States. Wouldn’t that support even hidden talents?”

“Taewoo Communications will even offer a prize money. If you’re going to start, shouldn’t you do it right?”

“I finally like it now.”

It’s been a while since I liked CEO Jooyoung Lee.

If you want to row, you have to do it with all your might to go further.

If I rowed aimlessly to save energy, the best opportunity I had could be lost.

***

Team leader Han and Dimon, who had gone to Japan, returned.

They returned only after the season changed and welcomed me with various expressions.

“We have concluded derivatives contracts worth $30 billion.”

“thank you for your effort. “I thought it would take until the end of the year, but I finished it quickly and came back.”

“It was a little difficult at first. “The person who previously signed a derivatives contract with me even took out a Japanese sword and attacked me.”

“But when you brought up the story of IT derivatives, things changed, right?”

“I put the knife away and took out a pen. “I didn’t even suggest it, but they even suggested increasing the size of the contract.”

“Well done. “But why do you look like that?”

“I’m a little anxious. “Seeing all the companies signing contracts without question, it looks like the IT boom will last longer than you expected.”

One team leader was familiar with the situation on Wall Street.

In addition, he went to Japan this time, read the atmosphere, and came back, and he must have felt that both the U.S. and Japan were confident in the IT boom.

“All bubbles are like that. It was the same with Japan’s economic bubble and the foreign exchange crisis. The same goes for IT.”

“Until now, the CEO’s choice has never been wrong. But just remember that if you fail even once, you could lose everything.”

Investment had two main directions.

One was to invest according to the mood, and this method guaranteed stable profits.

Another method was contrarian investment.

When a stock goes up, you think it will fall and go short.

It was an investment that took a long position, thinking that if the stock fell, it would rise.

This method could make a lot of money, but on the other hand, it was an investment that could also result in losing everything.

So far, I have made a lot of money through contrarian investing.

So, it was understandable that a team leader was worried about me.

If you make a mistake even once, you will suffer huge losses.

“The opportunity has come, but isn’t it a shame to miss it? Still, there will be no investments like this for the time being.”

“When I work with the CEO, I feel like I have 10 lives.”

“I won’t tell you to risk your life and work, so just trust me and follow me.”

Team leader Han took a deep breath.

He had made up his mind again because he had never failed while working with me so far.

“If IT derivatives explode, you can receive as little as $40 billion or as much as $80 billion.”

“Would a Japanese loan company have the money to do that? “They’ll just throw it away and file for bankruptcy.”

“If you sell off the assets held by the lender, you can pocket at least $20 billion.”

“Now Team Leader Han has to go back to the United States.”

“Now that I’ve finished my job, I have to go back to SAVE Investment Company. “I have a lot of projects going on so I need to get back to work quickly.”

Team leader Han had now become an investor recognized on Wall Street.

Although I was receiving scouting offers from other investment companies, I stayed at SAVE Investment Company out of loyalty to me.

Of course, he is being loyal to me since I provide him with a large salary and bonus.

“Now start selling IT stocks.”

“You mean IT stocks excluding the companies in which we are the largest shareholder?”

“Hold on to only Amazon, Google, and Apple, and sell the rest at the highest possible price.”

“I will sell it little by little so as not to notice.”

It was a team leader who felt regretful.

It might be a pity to have to sell IT stocks that are rising every day.

“These are stocks you will buy again, so don’t waste them.”

“Do you plan to buy again after the IT bubble bursts?”

“Of course you should. “As long as the bubble bursts, these stocks will still be useful.”

Team leader Han nodded and started packing.

The sight of him getting into the car with his luggage was heavy.

Just wait for one year. Because the IT bubble will burst inside.

***

There are less than two months left in 1999.

There were many people who believed in the end of the world, and the streets were filled with people wearing fin-de-siècle fashion.

Nostradamus’s theory of the end of the world.

And the Y2K ghost story.

Before the return, it was just a story to laugh about, but by this time, a very serious atmosphere had formed, to the point where my grandfather even called a meeting of the CEOs.

“The atmosphere is so scary these days. “Y2K cannot be dismissed as a ghost story.”

[It is said that the number of people hoarding daily necessities such as bottled water and ramen is increasing.]

[In response to news reports that Y2K may make it difficult to withdraw cash, it is said that some people withdraw cash in advance and store it at home.]

The Y2K ghost story wasn’t actually a ghost story.

In the case of computers, it was written as 00/00/00.

The main content of the ghost story was that computers would become unrecognizable from 1900 to 2000.

In fact, in the United States, we experimented with various equipment.

This is why these ghost stories spread because problems often occurred.

Although there was a problem, it wasn’t something to make a fuss about.

“The IT department is checking the computer devices of all affiliates of Taewo Group. In particular, we checked Taewoo Financial first, but there were no major problems.”

“The planning office will take responsibility for handling this matter. “If something goes wrong, it can be a real pain.”

“Even if a problem arises, it can be resolved quickly. “The likelihood of major problems occurring is very low.”

The Y2K problem was a problem that the whole world was already worried about.

In the case of Windows, the most widely used computer operating system, Microsoft had completed a hotfix update.

“I’m worried that the news is making a fuss about nuclear bombs exploding and airplanes crashing due to Y2K.”

“It’s just being used as material to increase viewer ratings. Minor problems may occur, but major accidents such as nuclear bombs or plane crashes never occur.”

The dark atmosphere of the end of the century was encroaching even on the presidents’ meetings.

To change the mood, I had to bring up another topic.

“South Korea’s economic growth rate is rapidly increasing. Last year, the economic growth rate was -5.5%, but this year it is expected to rebound and grow by more than 10%.”

“Hehe, that’s very good news.”

“In particular, Taewo Group’s export prospects are very good, contributing greatly to the economic growth rate.”

Even if history goes by, the economic growth rate has increased by more than 10%.

However, with Taewo Group surviving, the economic growth rate increased even further, and could rise up to 15%.

“Taewoo Motors and Electronics are doing a great job. In particular, Taewoo Electronics had a lot of fun with IT.”

“The project of Taewoo Electronics’ IT department succeeded in advancing overseas. In particular, gaming platforms and OTT services have already turned into a surplus, and sales are expected to rise significantly every year.”

“President Woo Seong-il has worked very hard.”

“I will work harder. President!”

It was President Woo Seong-il, who received praise for staying still.

He looked truly moved and buried his head deeply.

It was also a way to express my gratitude because I will be able to sit in the position of President of Taewoo Electronics next year.

“Taewoo Telecom also maintains its No. 1 position in the industry and is steadily widening the gap with No. 2 by more than 10%.”

“Even if there is little net profit left, it is more important now to maintain the number one position. “What I’m saying is that we need to solidify our position so that other telecommunications companies cannot follow us.”

“I’ll keep that in mind.”

Lee Ju-young, president of Taewoo Communications, also bowed his head.

They say they are at the top of the industry, but I can’t help but like them because they had to endure a huge loss to get that position.

“We have decided to charge a fee for some of the internet lectures provided by Taewoo Communications, so it is expected that we will be able to operate at a surplus starting next year.”

“Everyone, please suffer a little more. “If we continue to grow like this, Taewo Group can rise to the top spot in the business world.”

The top spot in the business world was still held by Hyeonjae Group.

However, the gap was not large, and the rankings would change when a new era called 2000 arrived.