The Magician’s Memorial - Chapter 156



Only Krnovel

Episode 156 Friend or Foe (5)

Taewo IT was achieving tremendous performance every quarter.

A department that started with less than 100 people was now filled with over 1,000 experts.

“There are a lot of empty desks.”

“Many employees are dispatched to various locations, so only 70% of employees come to work. “Employees who were dispatched to the game company will return soon, so we can proceed with all projects without any personnel gaps.”

At Taewo IT, there was no specific concept of rank.

The structure was such that when a project was given, the person who wanted to do it took the lead.

However, there was always someone who would step forward, and among them, the person who liked to step forward the most was employee Yang Young-won.

I didn’t just like to step out.

Because his abilities were outstanding, I chose him as the next IT executive.

Perhaps because he was greedy for power, as soon as I entered IT, he sat next to me and briefed me on the current situation.

“How many people can we mobilize right now?”

“The project has been completed, and there are approximately 100 people waiting for the next project.”

“Please call them all to the conference room.”

When I returned after drinking a cup of coffee, about 100 people had gathered in the conference room.

They were looking forward to a new project with bright eyes.

“I would like to ask for your understanding first. “This project may not produce results because it focuses on the process, not the outcome.”

I saw several employees looking disappointed.

Taewo IT was receiving a higher salary than any affiliate of the Taewo Group.

The base salary was the same as other affiliates, but this was possible because the amount received as performance bonus was several times the base salary.

“Still, I ask you to do it because it is something that must be done.”

[If the vice president tells you to do something, you must do it!]

[Please tell me quickly what to do. My fingers are itching so much.]

The reaction of Taewo IT employees was unexpected.

I tried to offer carrots other than performance bonuses, but the employees were motivated first.

Were they this loyal?

We checked the details of the employees and found that they all had very high levels of loyalty due to responses that were different from what we expected.

Is it really the power of money?

Or is it because the vice president directly asked for it?

In any case, an atmosphere where work could be done comfortably was created.

“The task is to create the site and function I am talking about and register it as a patent as quickly as possible. “Patent registration will be assisted by the technology research institute’s patent team.”

“What features should we create?”

“Time was so urgent that I couldn’t prepare the materials. “I will use the blackboard to explain the features we will create in the future.”

I started explaining various functions on the blackboard.

Mini homepage, background music, Ilchon concept, guestbook, SNS currency, diary, etc.

Sayworld planned to create features in advance that would be introduced one to two years later.

Some of them were already in use on other sites, but first I wrote down all the functions I remembered on the blackboard.

It wasn’t just about Sayworld’s functions.

I even wrote down all future SNS features such as Facebook and Instagram.

“I guess this should be enough.”

The meeting lasted as long as 4 hours.

It took a long time to communicate with 100 employees, so that all 100 employees could understand the functions I was talking about.

“How long will production be possible?”

“If each project team is in charge of one function, I think we can materialize all the functions in less than a month.”

“If you complete this task well, we will ensure that all Taewo IT employees receive the highest level of holiday bonus. And in the future, we plan to allow IT employees to work from home one day a week.”

[Wow!]

What happened when I brought up the topic of bonuses?

Employees were more enthusiastic about the term ‘working from home’.

Actually, what kind of office worker wouldn’t like working from home?

No matter how much freedom you have at work, it cannot be more comfortable than at home.

“And we plan to increase the number of IT employees to 1,500 in the second half of this year. If that happens, we plan to introduce long-term vacation or sabbatical years. “Employees who wish to do so will be able to take three months of vacation or a one-year sabbatical.”

[Wow!]

An explosive reaction came out.

The employees were screaming louder than when they won the Korea-Japan war.

“step! In order to do this, productivity and profits must be higher than now. “If long-term vacations and sabbaticals are introduced and negative growth occurs, it could become a story that never happened.”

[I will do my best!]

[If anyone goes out to smoke in the future, I will kill them!]

[Quit smoking and chew gum!]

Originally, this was the carrot I was going to present before throwing the project at me.

In some ways, it was a welfare that employees wanted more than performance bonuses, and it was also a welfare that none of the large corporations in Korea could provide.

***

After Taewoo finished his IT work, he went to Captain Kang’s office.

Daimon was sitting blankly looking at the window.

“David didn’t come to Korea?”

“They say they have a lot of work to do in the U.S. so they won’t be able to come to Korea for the time being.”

It was Daimon who answered, still looking at the window.

It felt like his soul was leaving his body.

“What’s going on?”

“I’m not sure what I’m doing right now. “I came to Korea believing in the CEO and his promise to become the CEO of the world’s best bank, but I feel empty because I am only doing work that has nothing to do with finance.”

Have you neglected Dimon too much?

If this continued, Dimon could have easily left, so I quickly caught him.

“I was already planning to start now. “The time I wanted has finally arrived!”

“What period are you talking about?”

“Opportunities are born from crises, and crises are born from opportunities. “The optimal situation to have the best bank in the world is happening now.”

“I don’t understand what situation you are talking about.”

“Interest rates in the U.S. are continuing to fall, right?”

After the 9/11 terrorist attacks, interest rates in the United States fell below 2%.

The interest rate was already low, but there was some speculation that it would fall further.

“I received a report that the interest rate may be lowered to 1.75%.”

“If interest rates go down, where will the money go? “If you try to save money, you won’t get any money, so will the money be released into the stock market that crashed due to the dot-com bubble?”

“My prediction is that there is a high possibility that funds will flow into the real estate market. “The rise in housing prices in the United States is unusual.”

As expected, Dimon was Dimon.

They say I am in my second life, but Dimon, even though he is in his first life, had a vague idea of ​​what would happen next.

“What happens when that much money flows into the real estate market?”

“Real estate prices will rise several times more than they are now. “But what does that have to do with us?”

“Madness never goes away. We just move on to the next goal. “Before, it was dot-com, but now it’s moving to real estate.”

“The real estate market is different from the stock market. In particular, the US real estate market is worth trillions of dollars. No matter how much money is poured into real estate, it can be easily handled. And there is no reason for all the money to go into real estate. “Because there remains a stable investment source called U.S. Treasury bonds.”

Real estate undefeated.

This was a word that was used not only in Korea but also in the United States.

In particular, in the case of the United States, the land mass is so large that the size of the real estate market was incomparable to Korea.

“They said the Federal Reserve is preparing a plan to prevent people from making money with U.S. Treasury bonds. Then, money will naturally flow into the real estate market.”

“If the rate of increase in housing prices is higher than the interest rate, of course many people will use real estate as a means of investment, but it is unlikely that something like the dot-com bubble will occur.”

“That wouldn’t happen if you simply took out a loan and invested in real estate. But wouldn’t things be different if derivatives were involved?”

I have already experienced the fear of derivatives several times.

There was no way Dimon wouldn’t have known, as he personally witnessed how I used derivatives to destroy the Japanese private bond market.

“Do you think the U.S. real estate market will fail because of derivatives?”

“If there had been no dot-com bubble, that wouldn’t have happened. However, due to the dot-com bubble, the flow that should have flowed into the stock market lost its way. Of course, that doesn’t mean it’s going to fail right away. “For at least five years of inflation, the balloon called real estate will be full.”

Subprime mortgage crisis.

The dot-com bubble was the start of the real estate crisis in the U.S. and the explosion of the global economy.

Due to the dot-com bubble and the 9/11 terrorist attacks, an ultra-low interest rate policy of around 1% was implemented, which led to a lot of funds flowing into the real estate market.

“Predicting the future more than five years is close to impossible.”

“It’s not about predicting the future, it’s just about reading the flow of madness. “Accidents are bound to happen in places where too much money is spent.”

“… … “It’s not that I don’t trust the CEO, but it’s hard to accept him because he says things that a cult leader would say.”

“Well, you don’t have to believe it right now. Over time, you will be able to accept it automatically. Just remember that I haven’t forgotten my promise. “I will definitely make Dimon the CEO of the best bank in the world.”

This was the reason why the Lehman Brothers incident was brought up.

I had to come up with a random story to catch Dimon, who was anxious.

“Perhaps it was because I heard such a false story that all my thoughts disappeared.”

“Then that’s enough. Well, there is still a lot of time left in the US real estate situation, so you just have to deal with the things that are right in front of you. “There is a market in Korea that is currently swept up in madness.”

“I don’t know what market you are talking about. Stocks and real estate seem far from madness.”

“You can tell right away just by looking at the TV commercial.”

When I turned on the TV, many advertisements came out.

I found the most popular commercials these days and played them.

[May everyone become rich!]

It was an advertisement in which a female celebrity wearing red gloves on a snowy field exclaimed good wishes to become rich.

It was an advertisement for a credit card company, which was nothing strange, but the ad that followed was also an advertisement created by the credit card company.

“When you turn on the TV these days, don’t you see advertisements for credit card companies?”

“We know that the credit card industry is fiercely competitive. Thanks to the CEO transferring Taewoo Card to CL Group, competition has become more intense. “Are you talking about the credit card industry?”

“that’s right. “I heard that these days, credit card companies are issuing cards not only to college students but also to high school students.”

What is the card problem?

In 2002, Korea became hot due to the World Cup.

It was also a year when the economic situation became cold due to the credit card crisis.