The Magician’s Memorial - Chapter 43



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Episode 43. Value of 10 billion (1)

“thank you. thank you.”

President Hwang Young-cheol repeatedly lowered his head.

Money has always been an issue for small companies.

But how happy would you be if a large company offered to support you?

“You said you wanted to receive 100 million in investment money, right?”

“That’s right. 100 million won is enough for development costs.”

“Can I have 100 million? “I will invest 1 billion won.”

“Are you talking about 1 billion?”

“Is it too little?”

“Oh, no. It’s too much. … … “Aren’t you asking for the entire patent ownership to be transferred?”

What do you look at people for?

I am a person who knows the bare minimum.

The patent rights to MP3 players cannot be taken away with only 1 billion won.

“I am not such a shameless person. I say this because you need 1 billion to develop a proper product. We will support all costs from production to marketing.”

“… … “The terms are so good that I don’t know how to accept them.”

“But there is one more condition I would like to propose.”

President Hwang’s face distorted at once.

“What are the conditions?”

“I would like to purchase a portion of Digital Case’s shares. “I want to be a perfect partner and not just jointly own patents.”

“How much of the stake do you mean?”

“200 million won for 1 percent stake. The stake I want is 49 percent, and I would like to add 200 million won to purchase the stake for 10 billion won. Of course, all of my shares will become President Hwang’s friendly shares, and I promise that I will not spare any investment.”

The amount amounts to a whopping 10 billion won.

Of course, it was a small amount compared to what venture companies in Silicon Valley received, but there were no better conditions in Korea.

“Our company doesn’t even have a proper product yet. However, I don’t understand why you would spend 10 billion won to purchase shares.”

“What is important about technology or products? Isn’t there a CEO at the company with a new perspective? “I trust President Hwang and intend to purchase shares.”

“Joe, can you give me a moment to think about it?”

“Of course, you have to give yourself plenty of time. Separately from the purchase of shares, the investment amount of 1 billion won will be deposited into your account within today. Let me emphasize once again, I have no interest in the management rights of Digital Case. And I have no desire to steal patents.”

President Hwang’s face shrank in real time.

When I was worrying so much, it felt like steam was coming out of my head.

“Thank you so much for your interest. But is an MP3 player really a worthwhile product?”

“Didn’t you suggest investing in me because you thought it was worth it?”

“That’s true, but I’m not sure if it’s worth paying 9.8 billion won to buy shares.”

“Of course, it might fail. It doesn’t matter though. People like President Hwang are bound to succeed someday. “If I can become a permanent partner with President Hwang for 9.8 billion won, it’s a profitable business.”

President Hwang still didn’t know his own value.

Would the person who created the world’s first MP3 player not be worth 10 billion won?

“I have decided. We will sell 49 percent of our shares. Instead, I would like to receive a contract stating that the shares held by you will remain as my friendly shares.”

“Of course I should. ah! We will also insert a clause requiring mutual consent when selling shares. “There is also a clause that states that if the CEO needs to sell his shares, I will be the first negotiating party.”

“If that’s the case, I’m satisfied.”

The contract was written quickly.

I signed the contract under the name of SAVE Investment Company, not the director of Taewoong Group Technology Research Institute.

I was thinking of an excuse to make an issue of that.

Perhaps because he had concluded a large contract, President Hwang could not pay attention to that part.

‘The pumpkin came rolling in on a vine.’

With just 10 billion won, we were able to acquire technology that will lead the next 10 years.

After all, people should live good lives.

* * *

April has begun.

A team leader had been living in Japan for a month and had been negotiating with Japanese companies, and the negotiations were now over and he had returned to Korea.

“thank you for your effort. “I didn’t know that negotiations would take a month.”

“Japanese stock prices are falling day by day, which was a great help in negotiations.”

“You probably wanted to end the derivatives contract before the stock price fell further. But what are the hyenas of Wall Street doing?”

Wall Street also had derivatives contracts.

Of course, I handed over my derivatives contracts to Wall Street.

“As expected, they are really chewing on the bones. The rampage was so rampant that one Japanese bank collapsed. Thanks to that, there are some parts where our negotiations went easily.”

“They’re not hyenas for nothing. “Those who negotiate with us are blessed.”

I knew the habits of Wall Street well.

Therefore, we handed over some of the derivatives to them.

Because we look better when they make a fuss.

“As soon as you return to SAVE Investment Company, please begin managing the battery company acquired from TDK. “So that we can develop secondary batteries in cooperation with Professor Goodenough.”

“We will hire professional managers and take steps to ensure that the company operates without any problems.”

“By the way, has there been any contact from Dimon from Travelers?”

Now is the time when Dimon’s abilities are needed.

His ability to normalize the company through restructuring would be needed in earnest once the foreign exchange crisis began, but there were many uses for it even now.

But he was still a member of the Travelers.

It was not easy to recruit him unless his relationship with Travelers CEO Sandy Weill, whom he regarded as a mentor, became estranged.

“Although David is constantly managing it, he doesn’t seem to have any intention of leaving Travelers.”

“It’s a shame. Please continue to maintain a good relationship.”

“ah! And please tell David to go to Germany.”

“Where do you mean in Germany?”

“I have work to do at the Fraunhofer Institute. “I will write down the details in writing and send it to SAVE.”

If you’re going to start an MP3 player business, you have to do it right.

The first MP3 was created at the Fraunhofer Institute.

MP3 players have not yet been released and are not yet in the spotlight, but as soon as MP3 players are used in earnest, huge royalties have to be paid to the Fraunhofer Institute.

So, you have to hit the player first.

What if I own MP3 player patents and even MP3 patents?

You will have a system that automatically brings in money without you having to create a product.

* * *

A few days later.

David called with a flushed voice.

[I heard the MP3 patent has already been passed?]

“You moved from the Fraunhofer Institute to somewhere else? “Where is it?”

[It was transferred to Thomson Multimedia, a French home appliance company.]

“Thomson Multimedia?”

[It is a well-known company in the European market. Well, it’s a bit difficult these days.]

Of course, I also knew about Thompson Multimedia.

It was a large French state-owned enterprise and a company with a long history, founded in the late 1800s.

But it’s a bit strange.

I was sure I had heard of Thompson Multimedia Company somewhere.

It seems vaguely like that someone was my grandfather.

I left work early to solve my doubts.

I went back to the mansion, had a cup of coffee, and waited for my grandfather.

By the time I finished drinking all my coffee, my grandfather came home from work, and I accepted his shirt with a happy face.

“Thank you for your hard work today.”

“Why did you leave work early? “Isn’t this a busy time?”

“No matter how busy I am, I have to see my grandfather. ah! By the way, do you know that it is Thomson Multimedia?”

“As expected, there is a reason why you left work early. It is planning to acquire Thompson Multimedia. “This is a matter that is being carried out in complete secrecy, but they even managed to get into your ears.”

I knew it!

I felt like I had heard of it somewhere, and the company that was on my grandfather’s shopping cart list was Thompson Multimedia.

But are you going to acquire Thompson Multimedia?

Although Taewoo Electronics was a large company in its own right, Thomson Multimedia was a company that dominated the European market.

It’s like a shrimp trying to eat a whale.

Regardless of whether he has real money or not, he is a person who is anxious to increase the size of his company.

“Are you going to acquire Thompson Multimedia? “Wouldn’t the amount of money involved be considerable?”

“If I needed money, I would have refused. “They said I could buy it for 1 franc.”

“Isn’t 1 franc worth 100 won?”

“that’s right. “The opportunity to acquire it for just 100 won has come, so you can’t just pass it up, right?”

What kind of crazy person would hand over a company for 100 won?

There is clearly a huge problem, so they are probably trying to force the company to take over.

“Aren’t you planning on taking over Thompson Multimedia on the condition that it assumes its debt?”

“oh! Did you know that far? We have debt worth roughly 2.6 trillion won. Wouldn’t it be okay to pay off debt slowly? “The opportunity to grow Taewoo Electronics into the world’s largest company has come and we cannot miss it.”

Oh my, my head.

How much debt? A whopping 2.6 trillion won?!

It was almost laughable that I had worked so hard to reduce the debt of the Changwon factory.

But I wasn’t too worried.

There is no way Taewoo Electronics will acquire Thomson Multimedia.

I don’t know why, but the acquisition of Thompson Multimedia will likely fall through.

If it had been acquired, there was no way I would have known about it.

“Thomson Multimedia is the largest electronics company in France. Will the government just stand by?”

“Think about it. Thomson Multimedia is a state-owned company. Of course, even negotiating an acquisition is impossible without permission from the French government. “The French government has inquired about this acquisition from Taewoo Electronics.”

“Are you saying the French government is taking the lead?”

The French government is taking the lead, so why didn’t it work?

Well, France is famous for being a country where the voices of its people are high.

They must have stood up because they said they were selling a state-run company, which is the pride of France, overseas.

“If negotiations with the French government go well, we can make Thompson Multimedia an affiliate of Taewoo Group starting next year. If that happens, both Samjin and Sony will fall below Taewoo Electronics.”

“okay. I hope it goes well.”

“Are you not going to stop me?”

“It’s something my grandfather is doing, so how can I stop him? “I will just work hard at the mobile phone business.”

“Hehe, I feel stronger when you cheer for me. “Show success unconditionally.”

I massaged my grandfather’s shoulders and went up to the room.

Then I called David again.

“Go to Thomson Multimedia in France. And be sure to purchase the MP3 patent. “It doesn’t matter how much money it costs.”

Thompson Multimedia was in such bad shape that it had to sell the company.

In this situation, if you said you were going to buy the patent at a high price, wouldn’t you sell it unconditionally?

And with David’s unique friendliness, he will somehow sneak in and purchase the patent rights.