The Conglomerate Family Became A Villain [EN]: Chapter 187

187. Victoria Fund (1)

While Jung Hyun-woo fought against short selling, the game division, led by John River, contributed to Nintendo’s success by releasing three successful titles.

IT magazines even published articles stating that Victoria Corporation’s entry into the game market was a success and deserved greater recognition.

However, the game division’s strong performance didn’t significantly impact the stock price.

People perceived Victoria Corporation primarily as a provider of stock market services like JP Service and American Service.

“G Shop’s sales are also increasing,” Robert said.

Robert continued to manage G Shop even after becoming CTO [Chief Technology Officer].

The growth of G Shop also deserved high praise. However, this, too, wasn’t reflected in Victoria Corporation’s stock price.

Ann added to Robert’s statement.

“It’s fortunate that G Shop has turned a profit.”

She was attending the executive meeting as CFO [Chief Financial Officer].

“However, the company’s stock price remains at $13.3 with no significant change,” Sarah said.

As COO [Chief Operating Officer], she was living an even busier life.

“Still, I think it’s fortunate that we rebounded to $13 thanks to Dell Computer,” she added.

After listening to the Victoria Corporation executives, Jung Hyun-woo clasped his hands together.

“Despite the smooth progress of various businesses, you’re saying that the outside world sees no change in our company.”

Robert nodded and responded.

“It seems to be because the scale of each business isn’t large enough.”

Jung Hyun-woo released his clasped hands and said.

“Let’s not worry about external perceptions and continue on our path.”

Victoria Corporation wasn’t a company that aimed to make a quick profit and exit through an IPO [Initial Public Offering].

“I agree.”

“I agree with Charlie’s opinion.”

“Stock prices aren’t determined by us but by friends on Wall Street, so I don’t think it’s our domain,” Sarah said.

Sarah and other Victoria Corporation executives agreed with Jung Hyun-woo’s opinion and concluded the monthly meeting.

Immediately after the meeting, Sarah came to see Jung Hyun-woo.

“Charlie, do you have some time?”

Jung Hyun-woo gestured towards a chair.

“Please, sit down.”

Sarah sat down and asked.

“About the data center groundbreaking ceremony, will you attend?”

Jung Hyun-woo thought for a moment before answering.

“I think it would be good to attend.”

“Because it’s a monumental project for our company?”

“That’s also true, and I think we should invite reporters to take pictures.”

Robert used to handle these tasks, but with Robert stepping down as CTO, Jung Hyun-woo and Sarah had to take over these responsibilities.

“You said in the meeting that we should continue on our path, but you’re quite concerned about external perceptions,” Sarah observed.

“A CEO can’t help but look around.”

Sarah agreed with Jung Hyun-woo’s statement.

“That’s right, a CEO must be different from other executives.”

Jung Hyun-woo slightly raised his voice.

“But you didn’t come to me just to talk about the data center, did you?”

Sarah nodded in response.

“That’s right.”

“Is it a complicated matter?”

“It’s not complicated, but I came to Charlie because I think we need to resolve it and move on.”

A matter that needs to be resolved and moved on.

Jung Hyun-woo couldn’t think of anything immediately.

‘What could it be?’

He decided to ask directly rather than ponder.

“Sarah, what is it?”

Sarah replied in a straightforward tone.

“Establishing an investment company.”

Jung Hyun-woo narrowed his brows at her response.

“An investment company? Victoria Corporation itself was founded to simultaneously pursue investment and content development.”

If they hadn’t considered investment, it might have been Victoria Studio instead of Victoria Corporation.

“That was the case when Victoria Corporation was founded, but the situation has changed a lot now. Besides, we’ve even been listed on the NASDAQ [National Association of Securities Dealers Automated Quotations]. People no longer see our company as an investment or content development company.”

Jung Hyun-woo supported his chin with both hands.

“You mean JP Service has become so large that it’s overshadowing everything else.”

He seemed to understand what Sarah was saying.

“The performance of places like G Shop and the game division is reported separately, but investment is simply shown as an increase in assets. This is problematic.”

Because there is no separate investment management division, it is difficult to represent it with metrics.

“So, you’re saying that if we separate the investment division, we can show people how much profit Victoria Corporation is making from investments.”

Sarah nodded and responded to his statement.

“Since we are a NASDAQ-listed company, I think it’s important to appeal to investors.”

She, like Jung Hyun-woo, was also looking around at the surroundings.

“Then separating the business division is essential.”

“Let’s go like G Shop.”

“Like G Shop?”

“Let’s establish Victoria Fund.”

Jung Hyun-woo sighed briefly.

“Hmm… Then we’ll face scrutiny from various places, won’t we?”

He knew how solid the financial cartel on Wall Street was.

Sarah raised her voice at his question.

“Charlie, how many funds and investment banks do you think there are in the United States?”

She thought that even if Victoria Fund was established, it would only be one of those many funds.

Of course, Jung Hyun-woo’s thoughts were different.

“That’s true, but if we establish a fund, the attention will be different, won’t it?”

First, the media would pay attention to Victoria Fund. Then, customers using stock market services such as JP Service and City Service would pay attention to Victoria Fund.

Sarah shook her right index finger and said.

“If we don’t accept general subscribers, other funds won’t think of us as competitors.”

Jung Hyun-woo supported his chin with both hands and said.

“So, you mean it’s a fund to manage the money that Victoria Corporation earns.”

“That’s right.”

Sarah thought it was time to utilize Jung Hyun-woo’s excellent investment sense.

‘Charlie’s ability during this Plaza Accord [agreement between France, West Germany, Japan, the United States, and the United Kingdom to depreciate the U.S. dollar] was outstanding.’

In fact, most financial companies, except for JP Morgan, were losing money due to this Plaza Accord.

“Who will manage it? If it’s a business division, we’ll need a director-level executive.”

“I’ll take it on.”

“Sarah will?”

“I’m already in charge anyway.”

It would just be adding one more official title to Sarah’s name.

“Okay. Do it that way.”

Jung Hyun-woo thought that establishing an investment company at this time wouldn’t be a bad idea.

‘As Sarah said, it’s something we’ll have to do someday anyway.’

Even though the conversation was over, Sarah didn’t get up from her seat.

“Sarah?”

“Charlie.”

“Hmm, it’s unlike Sarah to hesitate.”

Sarah took a breath and said.

“John is getting married this time.”

John.

Jung Hyun-woo narrowed his brows.

‘John is getting married? Does that mean I have to give him a long vacation for his honeymoon?’

The John he had in mind was John River.

“A vacation of more than a week is not possible.”

Sarah tilted her head at his words.

“It won’t take a week to attend John’s wedding.”

Attending John’s wedding.

Jung Hyun-woo realized that his assumption was wrong.

‘It’s not John River.’

The John she was referring to was her brother, John Hilton.

“Ah! That John isn’t that John.”

Sarah narrowed her eyes as Jung Hyun-woo clapped his hands after getting up.

“That John isn’t that John?”

“At first, I thought you were talking about John River getting married.”

Sarah sighed deeply at Jung Hyun-woo’s words.

“Ha… Why would I be talking about John River’s wedding? It’s about my brother.”

“I know.”

“Charlie, will you be able to attend the wedding?”

Jung Hyun-woo nodded and replied.

“Since it’s John’s wedding, I have to attend even if I have to charter a plane.”

Sarah said in a low voice.

“I don’t know if I’m putting a burden on Charlie.”

Jung Hyun-woo responded in a bright voice.

“Absolutely not. How could I not attend John and Jenny’s wedding?”

He had not forgotten the kindness the two had shown him.

* * *

Princeton University, New Jersey.

Two giants sat facing each other in a small laboratory that people rarely visited.

“Ian, it’s been a while.”

The first to greet was Kin Shevchenko, head of the hedge fund Terra.

“When you ask to meet first, it’s usually not good news.”

Ian Perelman, IMF [International Monetary Fund] Deputy Managing Director, sat in his chair with a disgruntled expression.

“Still, we should see each other from time to time, shouldn’t we?”

Kin Shevchenko chose Princeton University as the meeting place because of Ian Perelman.

Ian Perelman periodically went to Princeton to give lectures on the global economy.

“What brings you here today?”

He had already heard the rumors about Terra.

‘More trouble because of my nephew.’

As he expected, the reason Kin Shevchenko came to see him was because of Damon Perelman.

“Perelman has left the company.”

Ian Perelman received his words with a blank face.

“Is that so?”

“The damage that friend caused to the company is not small.”

“Isn’t it common for fund managers to cause losses to the company through investments?”

Ian Perelman cut him off, saying it was none of his business.

“Ian, the amount of the loss exceeded $4 billion.”

$4 billion.

It was an amount equivalent to the annual budget of a small country.

“So, what are you trying to say?”

“The Perelman family should take responsibility…”

Ian Perelman clicked his tongue.

“Tsk, tsk, what era are you living in? Do you expect our family to take joint responsibility for Damon’s losses?”

Kin Shevchenko lowered his shoulders and replied.

“I’m not expecting that much. However…”

In fact, it wouldn’t happen even if he wanted it to.

Damon Perelman was not Ian Perelman’s son, but only his nephew.

Ian Perelman said coldly.

“You’re probably trying to use my nephew as a hostage to get investment information.”

Kin Shevchenko had no choice but to raise both hands at his rebuke.

“Please don’t push me too hard. I’m also in a very difficult situation.”

$4 billion was not an amount that Terra could simply ignore.

Someone had to take responsibility.

Of course, Kin Shevchenko had no intention of taking responsibility.

“So, you’re asking me to save your face?”

“That’s right.”

Ian Perelman immediately rejected his request.

“No way.”

Kin Shevchenko sighed deeply.

“Ha… Ian, why have you become so cold?”

In the past, Ian Perelman had given him several useful pieces of information.

He had come to see Ian Perelman thinking that he would do so again this time.

However, unlike his expectations, Ian Perelman was extremely cold.

“Haven’t you guys made the world economy chaotic?”

Kin Shevchenko felt wronged.

“Why is the world economy in turmoil our fault?”

Ian Perelman raised his voice and retorted.

“Aren’t you hedge funds fueling speculation and driving people to invest?”

Investors with aggressive investment tendencies were obsessed with investments such as derivatives and currency speculation, like hedge funds.

“Ian, people’s desires tend to grow over time.”

Kin Shevchenko predicted that aggressive investments would increase over time rather than conservative investments.

“So, you’re saying you’re not at fault?”

“If we’ve done anything wrong, it’s that we’ve overstepped the Fed [Federal Reserve] and the federal government’s thinking.”

Ian Perelman clicked his tongue again at his words.

“Tsk, tsk, you know it.”

“Ian, just give me one thing.”

He was asking for even one piece of useful information.

“Invest in Victoria.”

Kin Shevchenko raised his eyebrows at Ian Perelman’s words.

“Are you talking about Victoria Corporation?”

Terra had previously launched a short-selling attack on Victoria Corporation.

“Why? Can’t you do it?”

Kin Shevchenko narrowed his brows.

“We still think Victoria is overvalued.”

“Victoria is overvalued?”

“It’s a company with annual sales of only $1.4 billion. Even if you take five times the sales as the market capitalization, it’s still not a company with a market capitalization of over $10 billion.”

Kin Shevchenko and other Terra fund managers thought that Victoria Corporation’s stock price was inflated by more than double.

‘Victoria Corporation’s fair stock price is less than $5.’

Ian Perelman frowned at Kin Shevchenko’s answer.

“Kin, is that why you keep losing money?”

Kin Shevchenko wanted to answer that they didn’t keep losing money.

However, answering that way in this situation would only worsen the atmosphere.

“Is there any good news about Victoria?”

He meant that if there was any good news they didn’t know about, they could invest in Victoria Corporation.

“Look at the people.”

It was a sudden answer.

“Look at the people?”

“I’m talking about the people leading Victoria Corporation.”

“Charlie Jung, or Robert Bernard?”

Ian Perelman sighed deeply at his question.

“Hoo… You mean you’re running a hedge fund without even knowing who’s leading the company?”

Kin Shevchenko was the CEO of Terra and a major player on Wall Street.

However, he was being treated like a novice by IMF Deputy Managing Director Ian Perelman.

“You don’t mean that Miss Hilton and the Hilton family are running Victoria Corporation?”

He thought that was impossible.

‘The Hilton Group’s market capitalization is lower than Victoria Corporation’s.’

On the day Victoria Corporation was listed on the NASDAQ, it surpassed the market capitalization of the Hilton Hotel Group.

“The reality of Victoria Corporation is Charlie Jung.”

Kin Shevchenko shrugged.

“Charlie Jung isn’t even twenty years old.”

Ian Perelman raised his voice.

“Do you think age is a problem?”

“I don’t think he’s old enough to run a company properly.”

“So, you shorted Victoria Corporation?”

The short selling of Victoria Corporation ended in failure.

In a way, it could be said that this failure led to the next failure.

“…”

When Kin Shevchenko didn’t answer immediately, Ian Perelman added.

“Kin, if you doubt my words, try meeting Charlie Jung.”

Kin Shevchenko stiffened his neck and received his words.

“Ian, you trust Charlie Jung.”

Ian Perelman did not deny his words.

“I trust him.”

“What’s the reason?”

“Because he’s a genius who will change the world.”

“A genius?”

There were people called geniuses in every field.

However, Ian Perelman used the word genius in a different sense from those geniuses.

‘There aren’t many geniuses who have the power to change the world.’

Looking back on history, such a genius appears only once every few decades.