The Magician’s Memorial - Chapter 87



Only Krnovel

Episode 87 National Bankruptcy Day (5)

After talking with Dimon, I returned to the mansion.

Perhaps because I was in the United States for nearly a month, my grandfather welcomed me even more warmly.

“My eldest son came back from America and his face became half-faced. Is American food not to your taste? “Did you come here only as a vegetarian because you heard that E. coli is found in American beef?”

“I have been eating beef for every meal. But what should I do if even my grandfather talks about E. coli in American beef? “We’re already in an uproar because of Super Section 301.”

Super 301 trillion.

It was a law that amounted to a kind of retaliatory measure.

The United States brought out Super 301 trillion, demanding the opening of the Korean market.

The Korean government strongly protested with a counter-pay policy and revealed the fact that American beef was infected with E. coli.

A counterpay policy can only be effective if the economic scale is right.

The United States activated Article 301 of Super 301 instead of negotiation in response to Korea’s counter-impact policy.

Automobile-related trade tariffs rose as much as 100%, potentially doubling the price of automobiles.

“Do you think the United States will really invoke Super Section 301? “It was just a card drawn out as a threat.”

“I think so too. “It is likely that Article 301 was brought up to conduct favorable negotiations with the Korean government during the one-year grace period.”

In fact, Article 301 was not actually activated.

Especially since the IMF broke out, the Korean government had no choice but to adapt to the tastes of the United States.

“And even if Super 301 trillion explodes, we won’t have a big problem, right? “Thanks to the creation of a joint venture with Ford, there is a way to bypass Super 301.”

“That’s true, but if you take a detour, it ends up costing you more.”

“Even if there is a cost, we should pay enough if we can surpass other Korean car companies.”

I agree with some of what my grandfather said, but there were too many variables.

And David even spent a huge amount of lobbying money to get Taewoo Motors out of Super 301.

We did not suffer much damage because we had support from Ford, which had formed a joint venture with us.

But no one knows how things will change.

Therefore, predictions were only possible if the situation progressed according to actual history.

If Super Article 301 was really activated, Taewoo Motors could also fall into a dangerous situation at any time.

“We are also a Korean automobile company. “We cannot guarantee how long the detour will be available.”

“I see. It’s a shame. “It’s a shame.”

“There is no need to feel too sorry. “Wouldn’t the acquisition of Kai Automobile proceed more easily thanks to Super Section 301?”

The fear of Super 301 was sweeping the automobile industry.

Because the company might have to give up the U.S. market, the stock price of the automobile industry fell, and no company was interested in acquiring Kai Motors.

Of course, if things go according to history, the current group will eventually take over.

But will it happen this time too?

Taewoo Shipbuilding was handed over to Hyunjae Group, which incurred enormous debt.

Since nothing like that had happened in my previous life, I would have had the funds to take over Kai Motors, but when I handed over Taewoo Shipbuilding, I drained a lot of the current group’s treasury.

“You can’t think too easily. Kai Motors even held a 30% discount event to secure funds. And we are continuing restructuring and making efforts to reduce the deficit.”

“Even if we do that, Kai Group’s finances have already been completely tied up. “The Kai Motors union is said to be going on strike soon because they cannot even pay wages.”

“Are you saying we’re going on strike in this situation? “If we can’t make and sell cars, the vicious cycle will continue even further, right?”

The automobile industry’s union was famous for its strength.

Of course, I couldn’t blame them.

Wages have been unpaid for months, so what worker would wait patiently?

“It is said that even food in the cafeteria has been cut off. “It must be said that there is no possibility of Kai Motors’ revival.”

“It’s all about making a living. Are you saying that even food has been cut off? “Wow, how did Kai Cars end up like that?”

There were many contradictions in my grandfather’s words.

Just a moment ago, they were talking about using Super 301 to crush domestic automobile companies, but now they are showing concern about Kai Motors.

“According to a report prepared by the Economic Research Institute, Kai Automotive’s deficit this year is expected to exceed 6 trillion won.”

“Are you saying the deficit alone is 6 trillion won? “It is an amount that even the government cannot do anything about.”

“It is an amount that other companies cannot easily exceed. Ultimately, it will go to international bidding.”

It was not only domestic large companies targeting Kai Motors.

Ford, which had established a joint venture with us, was also considering acquiring Kai Automobile.

“Shouldn’t we get our teeth wet first before moving on to international bidding?”

“Rather, you should act as if you are not interested in bidding. Then, you have to participate in several failed bids and re-bidding to be able to acquire Kai Automobile at a reasonable price.”

“You’re saying the main character has to appear last!”

“Wouldn’t you feel more grateful if you reached out to creditors who are exhausted from multiple failed bids?”

“It will feel like a rope. “Hehehe.”

Of course, I had no intention of just watching.

Why did they bring Dimon all the way to Korea?

Dimon will be brought in before the international bidding, and he will be in charge of lowering the acquisition price by exposing all of Kai Automobile’s irregularities.

* * *

next day.

I went to work at Taewoo Electronics, not the planning office.

I went into the president’s office very naturally and sat down at the head of the table, and President Woo Seong-il was sitting next to me, rubbing his palms.

“I heard Taewoo Electronics sales are quite good?”

“It’s all thanks to the attention of the head of the department. And the amount of royalties coming from Apple is beyond imagination. I especially had a lot of fun with InnoPhone 2.”

“Next quarter will be even better. “Ipod royalties also come in.”

“And it’s even more exciting because Taewoo Electronics’ factory is producing InnoPhone 2 and iPod.”

Apple and Taewoo Electronics were moving as one body.

Although the mobile phone division and mobile phone factory were sold to Apple.

To make up for the lack of production, Taewoo Electronics’ factory had to be outsourced, and a large amount of dollars was flowing into Taewoo Electronics.

“Speaking of the iPod. “Do you know that a music site has been launched in the United States?”

“I recently learned that MP3 files can be legally purchased through music sites.”

“Shouldn’t we create a site like that in Korea too? “We need to take the lead before the iPod is released in Korea.”

All preparations had already been completed.

Without CEO Woo Seong-il’s knowledge, a Korean version of the music site had been created, and all that was left to do was launch it.

But why did I have to say this?

This was because several conditions were needed to launch the music site.

“Although the music site was launched in the United States, wouldn’t it be difficult in Korea?”

“Is it because of the Korean Music Copyright Association?”

“There are copyright association issues, and in Korea, albums are still in the form of CDs. “From the singers’ perspective, CD sales are decreasing, so they don’t want to be listed on music sites.”

Singers whose record sales meant they were sexy.

Broadcasting stations’ music programs were also ranked according to album sales.

“Could we change the way broadcasters rank their music programs?”

“It is possible if we put Taewoo Group advertisements before and after the music program. But before that, we have to finalize negotiations with the Music Copyright Association.”

“If we’re going to move the Music Copyright Association, we’re going to need help from record companies.”

“I know that the record company has a strong influence.”

Taewoo Group was also carrying out various entertainment projects.

In a previous life, it also had a multiplex movie theater, although it could not be properly opened due to the foreign exchange crisis.

Naturally, a music-related business was also being prepared, and small affiliates existed.

“I need to acquire a few record companies. “Which company should I acquire to capture at least 30% of the domestic market share?”

“I’ve heard that several record companies are on the verge of bankruptcy.”

“Then you can buy it at a low price. Take over everything.”

“Can we proceed with that at Taewoo Electronics? Taewoo Electronics and the music business are too far apart.”

“We will make the IT department independent and hand over the music division to it.”

When it comes to MP3 music, it was a type of IT business.

Some people might be skeptical right now, but once the IT department becomes independent as an affiliate, such stories will become commonplace.

“Then, we will acquire the music distribution company with Taewoo Electronics’ funds.”

“I will tell the chairman, so don’t worry and proceed. And the president should personally meet with the music copyright association and music program officials to negotiate.”

“It’s not difficult to run an advertisement for a music program. “The problem is the Music Copyright Association, and we will do our best to negotiate.”

To be honest, I already prepared the table.

I guess I can do just about scooping up a spoon on a prepared meal.

* * *

After giving business instructions to President Woo Seong-il.

I headed to the IT department building located in Gangnam.

‘It’s definitely changed a lot.’

Although they were a ragtag bunch of IT department employees.

Thanks to Jeffrey’s hellish training, I gained structure and realized what I needed to do.

Thanks to this, we have been able to carry out various IT businesses.

“Did you know that MCA Records and Apple collaborated to create a music streaming site?”

“Are you talking about Apple Music?”

The name of the music site was Apple Music.

Most of the shares were owned by MCA Records, owned by SAVE Investment Company, but the site was named Apple Music to symbolize its relationship with Apple.

“We will launch a site like Apple Music in Korea as well. Since discussions have already been completed with Apple Music, the system can be introduced as is. “You just need to modify the system slightly to fit the Korean style.”

“So are you launching a music site with Apple Music in Korea as well?”

Employee Lee Dong-min, employee of the IT department, asked a question.

He was an employee who was in charge of overseeing the Internet distribution business, and his leadership skills were so outstanding that the IT department employees implicitly regarded him as their leader.

“We will release it in Korea with a different name.”

“Then how about naming it after the same type of fruit? If possible, it would be better if the fruit name were in English. “For example, pineapple, lemon or melon would also be good.”

“… … .”

I never thought the name Melon would come out.

I liked that name, but I didn’t really want to use it.

“Berry would be better. “Choose Berry Music as the tentative name and proceed with the project.”

“Is it okay to just translate Apple Music into Korean?”

“There’s no point in doing that. Create a real-time ranking system and add various features such as a system to introduce the latest songs.”

“I think it would be good to create weekly and monthly rankings as well.”

“Let’s all come together and add creative features. “I will trust you and leave it to you.”

I just gave a few hints.

Since I couldn’t just spoon-feed it to them forever, I had to encourage the IT department employees to create it on their own.

However, as I created a music site, I became more greedy.

If Taewoo Group had a proper telecommunications company, it would be able to create synergy with music sites.

I have to satisfy my grandfather’s greed.

It was my grandfather who had been singing about wanting to own a telecommunications company for a long time.

As a grandson, I have to fulfill my grandfather’s greed.