The Magician’s Memorial - Chapter 157



Only Krnovel

Episode 157 Madness. (One)

I didn’t hand over the credit card company to CL Group for nothing.

It was only a temporary relief to protect Taewo Group from the madness of the credit card crisis.

“Card companies will soon collapse simultaneously. In particular, CL Card, which is in fierce competition with Samjin Card, will suffer the most damage.”

“CL Card Company is currently the number one company in the card industry. Moreover, we have a strong parent group called CL Group, so why not endure enough?”

“Will CL Group sell off its assets to protect its credit card companies? “Due to the nature of CL Group, we will hand over CL Card to creditors and withdraw from the financial industry.”

Before the regression, I remember that CL Card Company was on the verge of bankruptcy around 2003.

However, this time, since Taewoo Card has been acquired, the timing will be accelerated even further.

I had to prepare from now on so I could easily bring CL Card to Taewoo Group.

“So, my mission this time is to take over CL Card?”

“All you have to do is move behind the scenes so that Taewo Group can acquire CL Card, which has passed over to creditors, at a very low price.”

“It’s been a long time since I’ve been in the financial industry. However, as the CEO said, I still don’t know if CL Card will actually face a bankruptcy crisis.”

Dimon’s reliability was not what it used to be.

Since he was almost neglected, it is natural that his trustworthiness is low.

However, if the credit card crisis occurs as I said, we will also believe in a real estate bubble in the United States.

Then, I could have Dimon by my side until the subprime mortgage crisis, which was 5 to 6 years away.

“Trust me. “If the card crisis doesn’t happen, I won’t catch Dimon.”

“I will trust the CEO and do my best to carry out the work.”

It was Dimon who had regained his vitality.

He led his team and started investigating CL cards.

Only then did I remember why I came to Captain Kang’s office.

I came here to meet David.

Recently, David had been spending time in Korea after finishing his work in the United States, so he came to Captain Kang’s office without even contacting him.

But he was in America.

I took out my cell phone to contact him.

[boss! Is there a problem? Please give me all the calls.]

“I thought he was in Korea, but he’s still in the U.S.”

[I was already planning to go to Korea next week. I roughly finished my work in the United States.]

“Push back your flight schedule. “There is one thing to do in America.”

[oh! Any mission given by the boss is always welcome. Who should I meet this time? White House? Or Congress? The hyenas of Wall Street are also ready to meet.]

It was David full of expectations.

However, the person he met this time was someone too young to meet his expectations.

“Mark, please meet a high school student.”

[You want me to meet a high school student? Me? Are you saying I am the highest paid person at SAVE Investment Company?]

“I was accepted to Harvard, so it’s safe to say I’m a college student.”

[What should I do when I meet a college freshman?]

“You can receive it as a SAVE Investment Company scholarship student. “I am a student who has already been receiving support from SAVE Investment Company since my first year of high school, so it won’t be difficult.”

Facebook founder Mark.

Until now, since I had not even entered university, I kept a certain distance and only provided a little support.

However, since Sayworld was transferred to KS Telecom, the schedule had to be advanced, and a person who had not yet graduated from high school was needed.

[What college student would refuse a scholarship? Aren’t you telling me to do something too easy?]

“Please set a condition for the scholarship that we work together to create a project.”

[oh! After all, there is no way I would just meet a high school student. It looks like a high school student named Mark created an amazing program, right?]

“Not yet, but it seems likely. And tell them that you will also be given a portion of the shares in the project. “Only then will we be able to work on the project with enthusiasm.”

[How many shares can I offer? I think 10% is enough.]

As David said, I didn’t think I would mind it if it was a 10% scholarship.

However, I wanted Mark to work for our company even after graduating from Harvard, and to do that, I had to give him enough shares to have a sense of ownership.

“Promise me a 30% stake.”

[Aren’t you giving too much? The boss is in charge of everything from project planning to investment, so giving just 20% is enough.]

“Hmm, just set it at 30%. Instead, when selling shares, please include a clause in the contract that unconditionally negotiates with our company first.”

[I will do so. Well, I won’t postpone my flight schedule. One day is enough to recruit a high school student. See you in Korea next week.]

KS Telecom and Sayworld have joined hands.

All we had to do was accelerate the launch of Facebook.

Moreover, it didn’t end here.

Since we created SNS, shouldn’t we also have a mobile messenger app?

***

Taewoo Telecommunications and KS Telecom are now fighting over social media.

Samjin Electronics was working hard to produce a smartphone that could compete with the iPhone.

Chairman Oh Hee-geon paid enough attention to receive direct reports every month.

“The conclusion was drawn that manufacturing a smartphone is realistically impossible.”

“What does that mean all of a sudden! Do you know how many of the parts that go into the iPhone are made by Samjin Electronics? Why do they say we can’t make it when most of the parts are supplied from other companies, assembled and sold? “They don’t even assemble it themselves, they subcontract it!”

Samjin Electronics was also making a lot of profit through the iPhone.

Starting with semiconductors, various parts were being supplied to Apple, and as a result, sales in all fields except mobile phones were increasing compared to the previous year.

“Of course, if you want to make it, you can make it within this year. But since all the key patents are already registered, you have to pay huge royalties. “The more you sell, the more you inevitably lose money.”

“What else can I say? Of course you have to pay royalties. “If we develop better technology while paying royalties, wouldn’t we be able to reduce royalties?”

Most Korean companies have grown in this way.

Taking advantage of low labor costs, they created products by borrowing or purchasing technology from other companies.

We invested the money we earned into technology development and created our own technology.

It was the same with Samjin Electronics.

It was Chairman Oh Hee-gun who knew well how latecomers can survive.

“The problem is that Taewoo Electronics holds most of the core patents. “When we sell mobile phones, we bear the loss and Taewoo Electronics makes the money.”

“Taewoo Electronics possesses all the core technologies? Why did Taewoo Electronics withdraw from the mobile phone business?”

“Although we withdrew from the mobile phone market, we continued to collaborate with Apple. “Taewoo Electronics possesses the technology to the extent that Apple would not be able to produce iPhones if Taewoo Electronics does not give permission.”

Chairman Oh Hee-gun was shocked for the first time in a long time.

I thought Taewoo Electronics had given up on the mobile phone market and withdrew, but now they’re doing something like this.

“Does this mean that smartphones cannot be manufactured without Taewoo Electronics’ permission? And even if it is made, all profits will go to Taewoo Electronics? “Can’t we negotiate using the patents we own?”

“We can make iPhones by bypassing our patents, but we cannot make smartphones by bypassing the patents held by Apple and Taewoo Electronics.”

Chairman Oh Hee-geon gently pressed his temples.

How much have you been clamoring for technological development?

He was confident that among the large corporations in Korea, no company put as much effort into patent applications as Samjin Group.

But Taewoo Group is one step ahead of Samjin Electronics.

“I need to meet Chairman Kim Tae-joong. “Please make an appointment.”

“It is known that Chairman Kim Tae-joong delegated full authority to Vice Chairman Kim Min-jae and went to Vietnam. “It was Vice Chairman Kim Min-jae who led the collaboration with Apple.”

“Then I guess I’ll have to meet Vice President Kim Min-jae. “Please make an appointment as soon as possible.”

Chairman Oh Hee-geon thought of Vice Chairman Kim Min-jae.

A young 3rd generation chaebol who is not yet in his 30s.

I can’t believe I had to bow my head because I couldn’t get stabbed in the back by someone like that.

***

next day.

I went to Samjin Hotel to meet Chairman Oh Hee-gun.

Although time was running out due to the fight with KS Telecom, I could not refuse a meeting with Chairman Oh Hee-gun.

“Vice President Kim Min-jae, welcome. “I wanted to have a conversation at Chairman Jang’s funeral, but I was very disappointed that I didn’t get the chance.”

“I heard many stories about Chairman Oh through my grandfather. “His grandfather always spoke highly of Chairman Young-Joo Jang and Chairman Hee-Geon Oh.”

“Hehe, did Chairman Kim say that? “Every time we met, he only said things he didn’t like, but he was praising me behind my back.”

The conversation began in a friendly atmosphere.

The food that Samjin Hotel is proud of was served in a row, and even the highest quality wine filled the table.

“It’s been a while since I feasted. “Every time I went from having a meal at the company cafeteria to eating at the Samjin Hotel, I felt very refreshed.”

“I’m glad you’re satisfied. Hmm, the reason I asked to meet Vice Chairman Kim was none other than the smartphone.”

It was Chairman Oh who finally got to the point.

I also expected that the only reason he would want to meet me was because of his smartphone.

“Taewoo Group does not produce mobile phones.”

“They don’t produce mobile phones, but they have a monopoly on all technology patents.”

“Is that going to be any problem?”

“Not at all. What could be a problem? I’m just jealous. And it’s a little disappointing. “If Samjin Electronics had joined hands with us instead of Apple, Samjin Electronics would have been able to create a product like the iPhone first.”

It’s not that I haven’t thought about joining hands with Samjin Electronics.

However, Samjin Electronics overlapped with Taewo Group’s various businesses, including home appliances as well as mobile phones.

How can you join hands with your competitors?

On the other hand, in the case of Apple, although the PC field overlapped, their product lines did not overlap, so they chose Apple because joining hands would be mutually beneficial.

“There is a complicated story behind Taewoo Electronics’ partnership with Apple, so it is difficult to explain it here. Taewoo Electronics maintains a policy of not cooperating with competitors.”

“Hmm, of course I understand Taewon’s feelings. Still, isn’t it impossible to join hands with an American company forever? Please join hands with us too. “Wouldn’t that make Korea’s economy stronger?”

Samjin Electronics seems to be in a hurry.

I never thought I would even bring up patriotism.

Chairman Oh personally asks for a favor, so it wouldn’t be polite to refuse, wouldn’t it?

However, we had no intention of letting them use our technology for free.

Would you say that the big fish came in on their own through a trap?

Even though I had filled my stomach with Samjin Hotel’s top-quality cuisine, my mouth was watering.