The Magician’s Memorial - Chapter 456



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456. Big Capital (1)

Bin Salman, who also visited Korea a year ago.

The status then and now were completely different.

Since he was officially appointed as Crown Prince, the South Korean government even prepared a grand ceremonial event.

So on the first day, Bin Salman attended a government event.

It was not until the next day that I was able to visit the Taewoo Group headquarters.

“Is Crown Prince Bin Salman here?”

“Why are you being so formal with us? Just do as you usually do.”

Bin Salman opened both his arms wide and hugged me.

To encourage him for his hard work, I also hugged him tightly.

“Thank you for your hard work. You handled it so clearly and neatly.”

“Thanks to you, hyung. Things went smoothly because you had information that could never be denied.”

“Now that the powers that could claim the throne have all disappeared, the powers that follow you are growing stronger. I think it’s time to relax a little.”

The empty space was too hard.

Because so much blood was shed during the purge, I couldn’t help but feel tense all day.

Of course, it is good to maintain a certain level of tension, but excessive tension can ruin a person.

“I need to relax my body, but it’s not easy. But I think I’m a little less tense now that I’m in Korea, where my brother is.”

“Don’t worry about anything in Korea. I don’t know about other places, but in Korea, Taewoo Group can protect you at least.”

“I learned one thing during this purge. I learned how valuable it is to have someone you can completely trust. You are one of the few people I can trust. In fact, you are the person I trust the most.”

How many years have you suffered to hear this?

I felt rewarded for putting in the effort since childhood and for keeping in touch even when I was busy.

A strong relationship of trust with the Saudi Crown Prince.

It was not a relationship that could be bought no matter how much money was spent; it was a relationship that had a value that could not be converted into money.

“We’ve been together since we were little punks, so of course we have to trust each other.”

“So I have a favor to ask of you, hyung. It’s a favor that only I can ask of you.”

“If it’s a favor you ask, of course I should grant it. What should I grant you?”

“We are looking to have the Saudi sovereign wealth fund set up shop in the financial tower.”

“It’s already open?”

“What we have now is just a shell. We are planning to put the real thing in the financial tower.”

It was an offer that there was no reason to refuse.

Because the Saudi sovereign wealth fund was one of the largest funds in the world.

“I will make room for you even if it means clearing out the space used by Taewoo Securities.”

“The size of the Saudi sovereign wealth fund will be significantly different from before. Most of the funds recovered from the state treasury during the purge process have been transferred to the sovereign wealth fund.”

“There’s no benefit to leaving it sitting in the safe. It’s a good choice.”

The authority over the Saudi sovereign wealth fund originally rested with the Ministry of Finance.

However, since 2015, authority has been transferred to the Royal Economic Development Board.

Since Bin Salman was the chairman of the committee, he held the decision-making power over the sovereign wealth fund.

“The fund is only worth $200 billion. I want to double that in three years.”

“It’s not an impossible story. Even if you only get the average return of the financial companies in the financial tower, you can easily make more than double the profit.”

Double in 3 years.

It was a return that seemed next to impossible for Wall Street hedge funds.

However, if we only look at the profits of the financial tower, it could be seen as a rather modest goal.

“That’s why I’m asking you a favor.”

“Don’t worry about the problem of entering the financial tower. I’ll make room for you so you can enter tomorrow.”

“No, that’s not it. My brother, please take charge of the national wealth fund yourself.”

“What are you talking about? You want me to take charge of the sovereign wealth fund?”

“That’s exactly what it says. Taewoo Securities and Hyung, please take full responsibility for finding investment destinations for the Saudi sovereign wealth fund.”

Have you built too much trust?

It’s good that you trust me, but I didn’t expect you to rely on me to this extent.

“Are you asking me to take responsibility for the Saudi sovereign wealth fund?”

“I have closely observed how Taewoo Group has grown and how much Taewoo Securities has earned each year. Since I was young, my older brother has explained to me over the phone how to make money in the financial world.”

I used to call Bin Salman often to keep in touch with him.

What would you have to say if you called?

Most of them were stories about where they invested and how much they made, and I didn’t expect that they would still remember those stories.

“It’s a bit burdensome to be asked to take charge of all, not just a portion, of the Saudi sovereign wealth fund.”

“Of course, I’m not asking you to take all the money. I have some shame. Just take half.”

“If it’s half, you’re asking me to take care of a hundred billion dollars? That’s too much. I can give you some information or collaborate on projects, but I don’t think it’s right for me to take full responsibility.”

If it were any other financial institution, I would have been thrilled by this opportunity.

But Taewoo Securities couldn’t do that.

Since we already had so much money, it wasn’t easy to find a place to invest.

But with up to $100 billion from Saudi Arabia’s sovereign wealth fund, finding places to invest becomes even more difficult.

“Just leave it to me. My father also gave me permission, saying that he can trust me as your older brother.”

“Let’s just sign an MOU first. Taewoo Securities and the Saudi sovereign wealth fund will sign an MOU and make a joint investment.”

“It doesn’t matter if we sign an MOU or a formal contract. However, it is sufficient if the Saudi sovereign wealth fund can move together with Taewoo Securities as the first priority.”

These were Bin Salman’s words and actions that were largely calculated.

You’re just going to entrust me with the Saudi sovereign wealth fund because I’m close to you and trust you?

This was an idea that could only be done because I didn’t know about empty living.

He knew very well how much the financial companies in the financial tower were earning every year.

This decision was made because there was a calculation that if you rank first, you can get a higher rate of return.

There is only a difference in method.

If it were another financial institution, they would make this kind of proposal with various conditions.

What was different about Bin Salman was that he made his proposal as if he was throwing a tantrum, citing the friendship and trust he had built up over the years as a condition.

“The project we are currently working on is already full, so we will allow the Saudi sovereign wealth fund to participate in the next operation.”

“Okay, then. But since I’m already in Korea, I’d like to invest in a good Korean company. Could you give me some recommendations? I can’t just leave after coming all the way to Korea.”

When the Saudi crown prince comes, big business leaders flock to him.

The CEOs of large corporations were seen as direct sales representatives in order to secure collaboration or investment from Saudi Arabia.

But you’re asking me to recommend stocks.

It was hard for me to speak because my one word could mean billions of dollars in exchange.

“Do you have a field of thought?”

“First of all, I’m thinking about investing in the gaming industry. It’s not because I like games, but because I believe the gaming industry has a good future.”

“The gaming industry isn’t all that bad. But depending on which gaming company you invest in, the returns will vary dramatically.”

The Korean gaming industry has grown enormously.

If the problem was the advantage built through the BM (business model) that forced customers to open their wallets, then that was the problem.

“So I asked my brother for a recommendation. Where would be a good place to invest?”

“Just a moment, I’ll take a quick look at the game company and let you know.”

I looked at the list of Korean gaming companies.

At the top were companies that were making a lot of money from pay-to-win games.

Although it was criticized for its extreme charging structure, it was a company that showed high growth for at least three years.

Check the list for about 10 minutes.

Among them, I selected a few good companies and recommended them to Bin Salman.

“If you invest in MC Soft, you can make a return of at least three times in three years.”

“Isn’t this the gaming company with the highest market capitalization in Korea?”

“It’s also a place where the Taewoo Group holds quite a lot of stocks. It’s a company with a very stable structure.”

The growth momentum of pay-to-win games is still not something that can be ignored.

It was not something to be ignored, but it had the power to grow even steeper.

The problem was that the momentum only lasted a few years, but it wasn’t a bad company for Bin Salman, who had been looking for a place to invest for three years.

“If Taewoo Group owns it, then of course I should acquire the shares.”

“The current stock price is around 250,000 won. It’s a little expensive, but it’s a place where there’s plenty of room for growth.”

“The stock price is expensive, so don’t invest a lot, just $1 billion.”

1 billion dollars was an amount exceeding 1 trillion won.

However, Bin Salman spoke as if he was making a small investment of 1 trillion won.

This was a statement that proved how large the Saudi sovereign wealth fund was and that Saudi Arabia’s capital power was coming back to life.

“A billion dollars would be enough.”

“What about other game companies? I feel it would be a waste to only invest in the number one company.”

“You know that China has imposed a ban on Korean entertainment, right? They are no longer opening up the Chinese game market to Korean game companies. Game companies that focus on the Chinese market will suffer serious damage.”

“MC Soft has a firm hold on the Korean market, so they are saying that the damage will be minimal.”

“It’s also popular in Taiwan, and since the profit structure is so good, the damage is minimal.”

Many gaming companies have achieved tremendous growth through the Chinese market.

However, since the Chinese market did not open its doors after the THAAD ban, we could not expect the same level of growth as we have now.

“I will only invest in MC Soft.”

“How about investing in other fields?”

“First, we need to sign an MOU and then decide whether or not to invest after looking at the situation. First, I will officially move into the financial tower and discuss it with my brother before making a decision.”

Actually, there was one more game company worth investing in.

There was a company that hadn’t even gone public yet, but it was going to release one of the best games of 2017.

Black hole.

A game called Battle Arena is coming out soon.

It was a game that achieved the world’s number one sales rate on the game platform, and I remember that Black Hole Game’s over-the-counter stock price skyrocketed by more than 200 times.

I can’t just tell you about this jackpot stock.

Just recommending MC Soft is enough to do your part.

Shouldn’t the most delicious dishes be mine to eat, or should they be told to me under other conditions?

“I’ll get up now. I still have a meeting with another company. After we’re done, let’s have a drink together all night.”

“Just contact me anytime. I’ll treat you the Korean way.”

“I’ll be waiting.”

Bin Salman got up from his seat with a regretful expression.

The moment he left the office, his complexion changed and he displayed the dignity of a crown prince.

And so Bin Salman’s visit to Taewoo Group ended.

A few hours later, a vice president came to see me with a big piece of news.

“Crown Prince Mohammed bin Salman officially announced the acquisition of a $1 billion stake in MC Soft.”

“Already?”

“It is said that they visited MC Soft and signed a stock acquisition agreement.”

“Your ability to take action is truly amazing.”

It wasn’t for nothing that he ascended to the throne through a purge.

It was Bin Salman who quickly acquired MC Soft’s shares as if he was carrying out a purge.