The Magician’s Memorial - Chapter 472



Only Krnovel

472. Buy at the low point (2)

I just returned to Korea after the worst business trip to China.

Maybe that’s why a vice president asked me about my well-being first.

“What happened? You look very pale.”

“They thought of Taewoo Group as some kind of domestic company. They told us to pay more in taxes.”

“… … Phew, I want to hit you right now, but I can’t and I’m so angry.”

“What good will it do to be angry? Wouldn’t gradually bringing in Chinese money be the real revenge?”

China’s economy is at its peak now.

The moment the trade hegemony dispute broke out, it was bound to fall.

If Taewoo Securities or Financial Tower could absorb all the funds evaporating from China, they could have suffered this humiliation many more times.

“I will prepare thoroughly. I have been preparing since last year, so if a trade dispute breaks out, I can make huge profits. I expect the profits to be at least similar to or greater than the profits during the China short-selling period.”

“It’s funny to say that it was the price for humiliation, but there were some gains. We can further increase the development of Mongolian resources. We received a definite answer that we will handle all the transport volumes.”

“The more resources Mongolia produces, the more China loses, right?”

“It’s a loss for China, but it’s a win-win for the Chinese elite.”

What was most important to those in power was not the development of the country.

Maintaining power was the top priority, and that required a lot of money.

There was no reason to hesitate, as the Mongolian resource transport fee would put a lot of money in my back pocket.

“So you’re saying that as long as we pay the proper taxes, we’ll continue to allow the transport of Mongolian resources?”

“They told me that I could proceed with the factory withdrawal as I pleased. I even received a definite answer that I could do whatever I wanted as long as the amount of the bribe did not decrease.”

There aren’t many times left when I’ll have to bow my head.

A moment that passes by during the US-China trade dispute and the COVID-19 era.

Because Taewoo Group will be able to reach a position where it doesn’t have to bow its head to anyone.

“We will accelerate the withdrawal of Chinese factories and invest more in Mongolian natural resources development projects. But I hope the Chinese government won’t suddenly block the transportation route or something?”

“That won’t happen for a while. And in a few years, China will no longer be able to block the shipping lanes at will. The power of the financial tower will be greater than that of a national federation.”

“In fact, the shares of the transportation route are evenly divided among the financial tower financial companies. The moment the transportation route is blocked, it is certain that at least 10 countries will take measures beyond public protest.”

The financial companies in the financial tower were making huge profits.

The more this happens, the more they will rise to a position where they can exert strong influence over their own government.

Even in just five years, each of the financial tower companies will have established themselves as the best financial companies in their respective countries.

“This is also the reason why we must work hard to grow the financial tower.”

“In fact, just with its current position, it is enough to create a stir in the financial world.”

“In just a few years, the financial tower will have the power of a world federation.”

There were many multinational alliances, such as the G7 and the Coffee Club.

However, the agreement was not easy because each country prioritized its own interests.

But the financial tower was different. Because its sole purpose was high profits, it could speak with a unified voice.

“We have already joined several financial tower financial companies in this attack on Japanese steel companies. If we diligently spread fertilizer and water them, won’t they grow well?”

“When is D-DAY?”

“We’ve decided on the last day of this month. We’ve organized the data we’ve collected so far from the Taewoo Parts Lab and are ready to release it.”

It wasn’t like I was getting slapped in China and then taking my anger out on Japan.

It just so happened that the target of this project was Japan.

“Are the recall preparations going well?”

“We have signed contracts with many auto repair shops across the country, as well as Taewoo, Kai, and GM auto centers. If a recall occurs, we are prepared to give priority to repairing Taewoo Group vehicles.”

“It may not bring in as much profit as the financial tower wants, but please make sure that Taewoo Group’s automobile affiliates can see a windfall profit.”

“Wouldn’t it be more profitable if we make it certain? Let’s shake it up with all our might!”

One vice president was confident.

It was a confidence that was possible because we had such reliable data.

***

Towards the end of summer.

Media outlets around the world simultaneously reported on the Japanese steel company’s data manipulation scandal.

In addition, the aftermath spread quickly enough to reach number one in real-time search terms on social media and portal sites.

[Data Manipulation Controversy: Made in Japan Trust Crisis]

[Decades of data manipulation!]

[Data Manipulation, What Impact Will It Have on Global Industries?]

A ton of articles came out.

To be exact, articles were published in countries other than Japan.

This was thanks to the efforts of Vice Chairman Han, David, and the entire Financial Tower.

“Share prices of Japanese steel companies are falling rapidly. In particular, corporate bond prices are falling to a crashing level!”

“The response is coming faster than expected.”

“The impact is enormous as it is being reported by media outlets all over the world. If it had been reported within Japan, it probably wouldn’t have had this much impact.”

The impact of an incident can vary depending on where it is reported.

If it’s a report started by a local media outlet, it can be defended somehow.

Once many overseas media outlets started reporting on it first, there was no way to defend it.

“How are Japanese steel companies coping?”

“First, they are sticking their feet out. But by the end of the day, many media outlets will start reporting based on the data, and then we will have no choice but to admit it.”

“Data doesn’t lie. You can’t waste time.”

Taewoo Group provided a lot of data.

From data on materials currently being produced to data on materials from 10 years ago.

It was such detailed data that the Japanese steel companies could not evade their claims, and it was possible to create a situation where time could not be wasted.

“And by the end of today, research institutes in the United States and Europe will also be releasing data on Japanese steel company material analysis.”

“I see you’ve also made a request to an overseas research institute.”

“Wouldn’t it be possible to refute the claim that Taewoo Group fabricated the data? That’s why we’ve put in a request to all the world’s famous research institutes.”

It wasn’t for nothing that he was promoted to vice president.

Vice President Han was a man who knew how to bring down his opponents.

There was no way a Japanese steel company could deal with him, who was dealing with the global financial markets, let alone Wall Street.

“If this continues to be reported, I will have no choice but to admit it.”

“The moment you admit your mistake and apologize, the game is over. The stock price, corporate bonds, and even the stock prices of the companies involved will start to fluctuate.”

“Judging from your expression, it looks like you have secured enough supplies.”

“We have swept up all the short selling of corporate bonds and stocks of Japanese steel companies. If we do it right, it could be a bigger deal than we thought.”

The structure was such that the bigger the board, the more profit there was.

In order to do that, there was no time to prepare.

“Announce a recall of Taewoo, Kai, and GM cars tomorrow.”

“I will announce that all vehicles that use materials from Japanese steel companies will be replaced with new parts.”

“Perhaps a recall could come sooner than an apology from the Japanese steel company.”

“That is a possibility. And we plan to proceed with a lawsuit regarding the supply of defective materials along with the recall.”

The cause of the recall was a steel company.

Naturally, all recall costs had to be borne by the steel companies.

“There won’t be much benefit from litigation, since only a few parts use materials from Japanese steel companies.”

“It would be enough to cover some of the recall costs. Wouldn’t the company’s bond and stock price fall even further just by the litigation itself? And the litigation is planned to be conducted simultaneously in several countries, including Korea, Japan, the United States, and Europe.”

There was a vice president who tried to use both the media and the law at the same time.

Besides, this lawsuit was definitely a situation that was advantageous to us.

“The stock prices of Korean steel companies are likely to rise considerably due to the windfall profits.”

“I thought so too, but it doesn’t seem to have a big impact. Korean steel companies mainly produce steel materials, but Japanese steel companies mainly produce aluminum, so it seems difficult for them to receive windfall profits.”

It was greed to seek greater gains here.

The operation was a success simply by increasing car market share.

***

The next day.

Taewoo, Kai, and GM Korea held press conferences at the same time.

[Dear customers, we sincerely apologize for the recent defective material issue. This incident is even more regrettable as we place the safety and trust of our customers as our top priority.

Accordingly, we will take immediate recall action on all vehicles in which defective materials were used.

We will strengthen our own data analysis on all materials to prevent recurrence of the problem and make every effort to ensure quality and stability.

These were the automobile companies that declared recalls.

Breaking news broke even before the press conference ended.

This was the first time a recall had occurred due to defective materials, and it garnered significant attention from the international media.

“Mr. Chairman! The management of the Japanese steel company also held a press conference. They admitted to manipulating the data and apologized.”

“But still, the press conference wasn’t held later than the recall measures.”

“But there is something strange. Corporate bonds and stock prices are being defended more than expected.”

Management acknowledged and apologized.

But it was nonsense to say that stock prices and corporate bonds were not affected.

“It looks like someone is defending. If they can defend against an attack on the financial tower, they must have a pretty solid backing.”

“I heard that the Japanese government is buying corporate bonds. It seems like they are trying to somehow minimize the damage from this incident.”

It was a very possible story.

The Japanese government would want to save the steel companies somehow.

“How will other auto companies react?”

“There has been no response yet. However, there is a response from other sides.”

“Where is it?”

“American and European airlines have announced that they have used data manipulation materials.”

“Not a bad reaction.”

You have to increase the board as much as possible to get the income you want.

If even major airlines responded, the stakes could be even bigger.

And then the response came from an unexpected place.

“Mr. Chairman, I received a call from the Blue House. They said they wanted to meet with me soon.”

“What’s happening all of a sudden?”

“This is a message that came right after the Japanese ambassador visited the Blue House. It seems that there is something to discuss regarding a Japanese steel company.”

I didn’t know the Korean government would step in.

And you even met with the Japanese ambassador?

I was curious about what President Choi Jae-seok would say. That’s why I canceled all my schedules and headed to the Blue House.