The Magician’s Memorial - Chapter 468



Only Krnovel

468. Prepare (3)

The hot summer has arrived.

The foreign employees at the financial tower still haven’t adapted to the Korean heat.

I was spending all my time in an air-conditioned office.

Of course, it wasn’t just because of the heat.

Three concurrent projects were keeping them tied to the office.

“The Bitcoin liquidation process is nearing completion. Taewoo Securities and Fintech Bank have sold all of the additional Bitcoin they purchased. And the financial companies in the financial tower have also liquidated more than 80%.”

“I guess you had some fun.”

“The price, which was in the early 20 million won range at the beginning of this year, has now surpassed 25 million won. That’s a return of roughly 20%.”

20% return.

If it was small, it could be a small return.

But the Bitcoin project is not over yet, and there are bound to be higher returns in a bear market.

“At the latest, a bear market will come early next year. Prepare in advance for that time.”

“Preliminary work has already begun. And the political world has begun to seriously raise the issue of Bitcoin regulation. An opposition lawmaker has announced a bill to impose a tax on Bitcoin transactions.”

“How is the market reacting?”

There was no greater evil than the imposition of taxes.

When bad news of this magnitude hits, prices are bound to plummet.

But in markets gripped by madness, the opposite often happens.

“The price is not crashing, but rather rising. Even though the financial tower sold off all of its Bitcoin, it continues to rise.”

“Even though the employees at the financial tower are experts, they say that a considerable amount of stock was released into the market, but prices actually went up.”

“Some individuals have taken advantage of it, but it seems that certain forces are driving up prices excessively.”

It meant that the forces were working hard to increase their power.

The powers that be took a large amount, if not all, of the Bitcoins held by the financial tower.

“It looks like you’re doing very well in Myeongdong.”

“They even say they will lend money to those in power at a discounted interest rate.”

“And then what will they do when the powers that be become empty?”

Although I was told to increase my power.

However, this did not mean that Myeongdong should increase its power while enduring losses.

“I had the same concerns, so I mentioned them to Chairman Lee Young-han.”

“What did you say?”

“He was confident that there was no amount of money that a loan shark could not collect. He said that he would collect every penny, even if it meant staking the pride of Myeongdong.”

He wasn’t the owner of Myeongdong for nothing.

The person who rose to the top of the Korean private loan industry was Lee Young-han.

He was a man who would get his money back by any means necessary.

“Well, I’m not worried about Myeongdong.”

“No matter how powerful the nationwide gangsters are, they are not as powerful as Myeong-dong. Furthermore, they monopolize the high-class bars around the financial towers, so Myeong-dong’s influence has grown even more.”

Even gangsters were ultimately a type of business.

A business can only survive if there is a way for money to come in.

Myeongdong, which has a complex of high-end bars that generate tens of millions of won in sales per day, has become a huge force.

“The powers that be are also going crazy. Politicians are announcing Bitcoin regulations, but they are not even listening.”

“Even if they announce the regulation now, I think it will take at least a year before the bill is formally introduced. So it seems like they are pouring money into making one last bet.”

One last splurge.

The powers that be will try to make a profit by eating the ants.

But the financial tower was waiting with its mouth open.

The prey were not ants, but forces that did not know that they were themselves.

“It seems that the powerful people have quite a bit of money.”

“It seems that even illegal sports betting and gambling site operators have joined the Bitcoin group. I have confirmed with Captain Kang that they have chosen Bitcoin for money laundering purposes.”

“Feed them well until winter. When they wake up from hibernation, their skin will be completely peeled off.”

“Feeding them well is no problem, but why do you want to hibernate?”

“If you don’t sleep, you can force yourself to sleep.”

The powers that be were also bound to undergo liquidation at some point.

However, if Myeongdong and the financial tower worked together, that period could have been delayed.

“And oil prices are continuing to rise. While they were trending up and down at the beginning of the year, they are now rising slowly but without falling.”

“Once the price of oil goes above $70, the fish will really start taking the bait.”

What if the price of oil, which was around $40, rises to $70?

These were global oil companies that could not help but be greedy for the oil fields and oil companies owned by Taewoo Group.

***

There are many baits scattered by Taewoo Group.

Among them, the first to respond were Russian automobile factories.

“The current automotive group is interested in negotiating a deal to acquire a Russian plant.”

“Is this a call from Chairman Jang?”

“Yes. Chairman Jang Kyung-jun wants to talk to you.”

Chairman Jang Kyung-jun took the bait.

Even if you let the fish go, shouldn’t you look at its face at least once?

“Please schedule an appointment for this evening.”

“I got a call that lunch is available today. I’ll try to coordinate our schedules so we can meet at a restaurant we often go to.”

Actually, the urgency wasn’t on our side.

If we could have a factory that could produce finished cars right now.

Since it would be possible to secure a share of the Russian automobile market in one fell swoop, the ones in a hurry were Hyundai Motors or other automakers.

“Have you heard from Japan yet?”

“They said they have received several inquiries. It seems they are trying to figure out whether Taewoo Group is really selling its Russian factory.”

“Please spread the word to Japan that we are currently negotiating with the current automobile group to sell the Russian factory. Then they won’t get anxious.”

You have to have competition to be able to charge a high price.

To get the leisurely Japanese automakers moving, rapid information transfer was necessary.

“Japanese automakers also consider the Russian market very important. Moreover, their share of the Russian automobile market has fallen to fourth place.”

“It must be frustrating to be pushed back by 20%.”

The Russian automobile market was largely divided into four categories.

The top spot went to a European automaker, followed by South Korea, Russia and finally Japan.

The market share, which was over 25% just 10 years ago, has fallen to 20%, and its place has been filled by Korean automakers.

“A vice chairman is leaking information to several Japanese financial companies in the financial tower. They should contact you soon.”

“I guess we’ll find out the rumors are true after meeting you today.”

The Russian factories had to be disposed of in advance before the war broke out.

A factory worth hundreds of billions of won now, but the moment war breaks out, its value becomes zero.

Automobiles, electronics, batteries, etc.

The combined value of all of Taewoo Group’s factories in Russia amounts to at least 10 trillion won.

First, the plan was to dispose of them one by one, starting with the automobile factories.

***

Captain Kang’s restaurant annex.

Chairman Jang Kyung-joon of the Hyundai Motor Group arrived first and was waiting for me.

Since I was the actual owner of the restaurant, it was polite for me to arrive first and wait, but I never expected that I would arrive an hour early.

That was how much he was in a hurry.

It was a move that showed the unconditional will to acquire the Russian automobile factory.

“Chairman Jang! I thought I got the time wrong. I said I would come out early, but I’m sorry for keeping you waiting.”

“Oh my! You don’t have to be sorry at all. I just got there early because I had time to spare. Anyway, it’s nice to see you again after such a long time.”

The history between Chairman Jang Kyung-jun and me is very deep.

It was a history that had continued since the IMF era, and although they were managing rival automobile companies, their relationship was not that bad.

To put it nicely, a friendly competitor.

But if you look deeper, you can see that it was also a relationship that could change at any time.

“I am also very happy to see Chairman Jang like this. Isn’t it true that the entire Korean automobile industry is developing through fair competition in the U.S., Europe, and Asia?”

“It seems like Taewoo Motors is too far ahead. Isn’t it leading the electric car market?”

It was Chairman Jang Gyeong-jun who spoke softly.

In fact, I thought it was game over when Taewoo Group acquired Kai Automobile during the IMF crisis.

But Chairman Jang Gyeong-jun did not give up on the game.

It has grown by gradually increasing its market share in the US and Europe, and has risen to 5th place in the world.

If you look at it as a single automobile company, it is not much different from Taewoo Motors.

We were able to get ahead only because Taewoo Group has other automobile subsidiaries called KAI and GM.

“Isn’t there a limit to how far we can penetrate the internal combustion engine vehicle market? That’s why we are trying to preemptively take over the electric vehicle market.”

“Isn’t it true that each company has a different strategy? Our current automobile group plans to focus more on internal combustion engine vehicles. Of course, we are investing heavily in the development of electric vehicles, but for now, we want to focus on internal combustion engine vehicles.”

Chairman Jang Kyung-jun slyly brought up the main topic.

As Taewoo Motors is focusing on electric vehicles, this statement implied that the Russian plant that produces internal combustion engine vehicles should be transferred to the Hyundai Group.

“Taewoo Group has not given up on developing internal combustion engine vehicles. It is investing as much money in developing internal combustion engine vehicles as it is in electric vehicles.”

“I know that. But I heard a rumor that they are selling the Russian auto plant. Is that true?”

Chairman Jang Gyeong-jun suddenly appears.

I touched my forehead for no reason and pretended to wipe away the sweat that wasn’t even flowing.

“Are you interested in Russian factories?”

“Of course I’m interested. Isn’t it the only factory that can produce right now?”

“But we have no plans to sell right now. And we are still receiving inquiries from Japanese automakers.”

“Chairman Kim! Aren’t we also a Korean company? If we’re going to sell the factory, wouldn’t it be better to sell it to a Korean company rather than a Japanese company?”

They’re doing this because they’re both Korean companies.

The Russian factory may see immediate profits, though.

When war broke out, the factory was taken over by the Russian government.

In an instant, hundreds of billions of won became zero.

No matter how strong the financial power of the current automobile group is, it was bound to take a big hit.

“May I give you a word of advice?”

“If it’s Chairman Kim’s advice, I should listen to it even if it costs hundreds of millions of won.”

“Do you really think Taewoo Group is selling its Russian plant to focus on electric car production? Absolutely not.”

“Then why did you make that decision?”

“I can’t explain any more than that. And I want today’s story to be kept only for you, Chairman. If it gets out, it could cause trouble for both of us.”

No exact information was given.

I just gave you a little warning.

The choice was up to Chairman Jang Kyung-jun, and I had no intention of caring what decision he made.