The Conglomerate Family Became A Villain [EN]: Chapter 116

116. From Pearl Harbor (2)

“He’s not coming back again today?”

Sera’s question was sharp.

“Something unexpected came up.”

“With JP Morgan?”

“No.”

“Where is it?”

“The IMF.”

Sera raised her eyebrows at Jeong Hyun-woo’s answer.

“The International Monetary Fund? That’s in Washington, isn’t it?”

“They want to meet in New York. It seems the officials are coming to New York.”

Sera softened her tone upon hearing about the meeting with the International Monetary Fund.

“Hmm, if the International Monetary Fund wants to meet, there’s nothing you can do. So, when are you planning to come back?”

“The meeting will probably end late, so I should be able to return by dawn.”

It meant he would be back after midnight, but not after sunrise the next day.

“Can I wait for Charlie at home?”

“Don’t wait up.”

“Why?”

“I might not be able to get on a flight.”

Sera nodded.

“Okay, I’ll go to bed first.”

She hung up and sighed deeply.

“Hoo… I wonder if Charlie is doing well in New York.”

Sera was bothered by Aria’s call from last night.

‘Aria isn’t usually one to make such calls.’

The reason she had been sharp was also because of Aria.

‘Why did Aria say that?’

Aria Walton’s words to Sera could be summarized as follows:

– I envy you for living with Charlie.

Was it because she envied her for being with someone who shared her dreams?

Or was it because she envied her for seeing Jeong Hyun-woo as an attractive person?

Perhaps she was intrigued by Jeong Hyun-woo’s brilliant talent.

‘Only Aria knows which one it is.’

Aria wasn’t someone who explicitly revealed everything.

Knock. Knock.

“Come in.”

The person who opened the door and came in was John River.

“Is this a good time?”

“Is it going to take long?”

“I have a few questions about the meeting with Nintendo.”

Sera stretched her right hand forward.

“Have a seat.”

Since becoming the head of the game division, John River had been busier than ever.

“What’s the problem? Judging by you coming to me, I’m guessing it’s about money.”

“That’s correct. It’s a matter related to money.”

Sera clasped her hands together and asked.

“Is collaboration with them expensive?”

John River replied.

“It seems Nintendo receives money from third parties.”

Sera raised her eyebrows at his answer.

“Are they charging a membership fee?”

“It’s not a membership fee, but a kind of royalty.”

“Royalty, as in…?”

“It seems they take a certain percentage of the sales.”

Sera sighed briefly.

“Hoo… If it’s a percentage of sales, does that mean they take less if sales are low?”

“That’s right.”

Nintendo’s third-party fee was the starting point for the Apple Store’s commission.

“That’s not good news. How much are they taking?”

“I heard it’s more than 10% of sales.”

“More than 10% of sales as a royalty?”

John River’s face darkened for a moment.

“I didn’t think I could decide on this alone.”

“We’ll have to ask Charlie about this.”

Sera felt that Jeong Hyun-woo’s opinion was essential for this matter.

‘Given Charlie’s personality so far, he might scrap the entire project.’

The moment she frowned, John River said.

“The next question is about the cartridge production cost.”

Sera tilted her head at his words.

“Cartridge production cost? Is there a problem?”

“It seems this Nintendo game has compatibility issues with the cartridges used by Atari in the past.”

“Does that mean we need to apply a new cartridge standard?”

John River nodded in response.

“Exactly.”

Since Victoria Corporation started with games, Sera knew a fair amount about the game business.

“If we use a new standard, the cartridge production cost will increase, right?”

“I wanted to get Miss Hilton’s permission for this as well.”

“That’s fine. Either way, if we’re working with a Japanese company, we’ll have to meet their standards.”

Her business mindset was to spend money boldly when necessary.

“Thank you.”

Sera raised her eyebrows and asked.

“What’s next?”

“To collaborate with Nintendo, we’ll need to visit Japan. I’d like to ask how many people you’ll allow on the business trip.”

Sera immediately answered his question as if there was nothing to think about.

“Take as many as you need. I don’t want to limit the business because of travel expenses.”

John River’s face brightened.

“Thank you.”

Sera raised her right hand slightly and said.

“Of course, all of this is only possible if Charlie approves the royalty.”

If Jeong Hyun-woo didn’t accept the 10% royalty that Nintendo proposed, the project would end here.

* * *

Ain Perrman, Senior Deputy Managing Director of the International Monetary Fund.

Jeong Hyun-woo doubted his eyes the moment he received the business card.

‘The IMF Deputy Managing Director?’

The person the United States sent to the International Monetary Fund to represent their interests was the Senior Deputy Managing Director.

“Unbelievable.”

Ain Perrman said, crossing his legs while seated.

“I’m more surprised than you are.”

He clicked his tongue inwardly after confirming that the young man at the center of attention was not even twenty years old.

‘Tsk, I heard the rumors, but I didn’t know he was this young.’

Jeong Hyun-woo, whom he saw with his own eyes, looked even younger than the rumors suggested.

“I didn’t expect the IMF to set the meeting place at JP Morgan’s house.”

JP Morgan’s house was a building across from the New York Stock Exchange, where JP Morgan, the founder of JP Morgan, lived and worked during his lifetime. This mansion is still preserved in the middle of Wall Street.

“I am neutral.”

The International Monetary Fund was not affiliated with any side of Wall Street.

In fact, it was natural since the International Monetary Fund was an international organization created by the combined efforts of several countries.

“I thought we would meet at a hotel or a fancy cafe.”

Ain Perrman shrugged.

“Don’t you have a lot of eyes watching you?”

“So you chose JP Morgan’s house?”

“It’s empty when it’s not visiting hours.”

Jeong Hyun-woo and Ain Perrman met after visiting hours were over.

“How is it? Staying with historically significant old books?”

JP Morgan’s library was filled with rare books that he had collected during his lifetime.

“I can see why this place is a mecca for tourists visiting New York.”

“Do you have a favorite book?”

“If I were to find one here, I’d say Gutenberg’s Bible?” [One of the earliest books printed using movable type].

“Do you believe in God?”

Jeong Hyun-woo nodded.

“I do. Of course, I’m not sure if that God is the same as the one you believe in.”

Ain Perrman chuckled softly.

“Hahaha, you’re an interesting fellow.”

The request he received from Carlo Giannini was to find out what kind of person Jeong Hyun-woo was.

‘Among those who value value investing, many consider the CEO’s character more important than the company’s vision. Carlo probably asked me to find out about him for that reason.’

He guessed that Carlo Giannini wanted to know about Jeong Hyun-woo’s character in order to invest in Victoria Corporation.

“I know you’re doing various businesses on Wall Street.”

“So far, it’s just JP Services and American Services.”

Jeong Hyun-woo thought that the International Monetary Fund was interested in the network used for those two services.

‘They’ll need a global network system.’

Of course, with the current technology, it was impossible to have a global network system.

Even if he asked, he was going to politely decline this time.

‘A global financial network system is only possible after the internet is complete.’

The mass movement of information between continents became possible after the internet was completed.

Jeong Hyun-woo didn’t think he had the ability to pursue a massive project like building the internet yet.

Ain Perrman asked.

“Are you planning to do more business on Wall Street?”

“Rather than business, I want to open up the future for Wall Street.”

Ain Perrman tilted his head at his answer.

“Open up the future?”

Jeong Hyun-woo repeated the explanation he had given to Justin Balmer.

He talked about making it possible not only to check stock prices in real-time at home but also to receive related breaking news on the computer and trade stocks based on that breaking news.

Ain Perrman listened to his story and clasped his hands together.

“You’re saying you want to bring about a financial revolution.”

For people in the 2020s, smartphone stock trading was a given.

However, people in the 1980s couldn’t even imagine such a thing. For them, even trading PC stocks at home was a revolutionary event.

“In short, yes.”

Ain Perrman asked.

“How long do you think your dream will take? 20 years? 30 years?”

“It’s not a dream but a realistic goal. And I plan to make it possible within 10 years.”

Ain Perrman exclaimed briefly.

“Ha! 10 years?”

He had an unbelievable look on his face.

Jeong Hyun-woo lowered his voice.

“JP Services is already running towards that goal.”

“Already running towards that goal?”

“If you look at the features added to JP Services, you’ll understand what I mean.”

Ain Perrman wasn’t very interested in JP Services, so he had never installed or used it.

Therefore, he didn’t know what services the latest version of JP Services supported.

“Hmm, if I get a chance, I’ll take a look.”

Jeong Hyun-woo couldn’t help but feel uneasy at the words ‘take a look.’

‘Wasn’t he trying to analyze JP Services and meet me?’

He thought he might have been heading in the wrong direction.

‘Maybe the International Monetary Fund is interested in the network security system rather than JP Services.’

Victoria Corporation was working with MIT to research network security systems. And they were also connected to the CIA.

“Are you perhaps interested in the network security system?”

Ain Perrman raised his voice at his question.

“Network security system?”

“A system that prevents hackers from infiltrating the network. It’s a necessary system in places that handle important information.”

Ain Perrman shook his head from side to side.

“Not yet.”

Jeong Hyun-woo sighed briefly.

“Hmm, then what’s the reason you wanted to meet me today?”

Ain Perrman unfolded his hands at his question.

“I wanted to meet someone at the center of Wall Street.”

“Was that the only reason you set JP Morgan’s house as the meeting place?”

Ain Perrman couldn’t tell him that he was trying to evaluate him at Carlo Giannini’s request.

“I was curious to see how your business would change Wall Street, and even the world’s finances. We are closely related to Wall Street and global finance.”

Jeong Hyun-woo thought that this reason was somewhat understandable.

‘Hmm. If he’s looking at the big picture rather than examining JP Services or American Services in detail, it’s not strange that he doesn’t know the details.’

Jeong Hyun-woo asked again.

“What do you think after hearing my story?”

“I think you have a bigger vision than I expected.”

“Are you saying I have a large scale?”

“It would be more accurate to say you have a big dream.”

Jeong Hyun-woo raised his voice slightly.

“Mr. Perrman doesn’t believe that what I said will be possible within 10 years.”

“Think about 10 years ago from now. Was there anything that changed drastically between then and now?”

Limited to the IT industry, there had been changes that could be called a revolution in the past 10 years.

But to an older person like Ain Perrman, the world had remained the same for the past 10 years.

‘It’s not like humans went to Mars beyond the moon, or flying aircraft carriers appeared.’

Both cars running on the road and airplanes flying in the sky were not much different compared to the 1970s.

‘Rather, the changes between the 1960s and 1970s were greater.’

He thought that modern industrial civilization had taken shape to some extent.

“We don’t plan to end our business with stock trading alone.”

“It doesn’t end with stock trading?”

“That’s right.”

Ain Perrman became personally curious.

“I want to hear your thoughts. What other business are you thinking about?”

Jeong Hyun-woo replied in a soft voice.

“I’m going to make it possible to freely conduct banking transactions beyond stock trading at home.”

“Banking transactions?”

“We plan to allow people to do remittances, transfers, currency exchanges, and credit card transactions from home.”

Ain Perrman sighed deeply.

“Hoo… Those things will have to wait until the 21st century.”

The 21st century he was thinking of was not 2001 or 2002. He thought that such a world would come at least in 2020 or 2030.

“It will be faster than that.”

“Youth is accompanied by confidence.”

“I’d like to make a bet, but there’s no bet I can make with Mr. Perrman.”

Ain Perrman spread his right hand and said.

“If what you said is realized by 1999, I’ll treat you to a big meal.”

Unlike Neil Hamilton, he thought he could survive long enough until then.

“Then I’ll look forward to a treat at the Astoria.”

The restaurant at the Waldorf Astoria Hotel was nearly a hundred years old.

It was famous to New Yorkers as a place frequented by President Herbert Hoover.

“Okay. What if you lose?”

“I’ll treat you at the Astoria.”

Ain Perrman chuckled at his answer.

“In the end, the winner is Astoria.”

No matter who won, Astoria had secured two reservations.

Ain Perrman brought up another topic, as if he was reluctant to get up from his seat right away.

“I want to ask something of a bright person like you.”

“You can ask me anything.”

Ain Perrman asked a question befitting the Senior Deputy Managing Director of the International Monetary Fund.

“How do you think the relationship between the United States and its Western allies will change?”

The Western allies he mentioned included Canada, the United Kingdom, France, Germany, Italy, and Japan.

“Each country has different circumstances, so I can only speak vaguely.”

“What if you answer one country at a time?”

Jeong Hyun-woo sighed briefly inwardly.

‘Hoo. I can’t tell the future as it is, so I’ll have to gloss over it.’

Then, he paused as if organizing his thoughts and opened his mouth.

“Shall we start with Canada?”

“Canada is fine too.”

“Canada will not change much from now. The tip of the United States’ spear is not aimed at Canada either. Of course, there are some variables.”

Ain Perrman nodded as if he meant the same thing.

“I see. What about the United Kingdom?”

“The United Kingdom will have some friction with the United States in the financial sector. But the United Kingdom’s situation is not good, so the United States cannot put too much pressure on it.”

The United Kingdom was trying to turn things around with its victory in the previous Portland War, but its situation was not good.

The United States did not want one of its important allies, the United Kingdom, to falter. Therefore, they could not put strong pressure on the United Kingdom.

“Then which country do you think the United States is most concerned about?”

Jeong Hyun-woo replied in a bright voice.

“The two countries that everyone knows.”

“Two countries?”

“Germany and Japan.”

Germany and Japan were recording huge trade surpluses against the United States.

“If you had to pick just one?”

“It would be Japan. The United States will not leave Japan alone.”

The United States was already in conflict with Japan in several ways.

“Is the United States threatening Japan with GATT [General Agreement on Tariffs and Trade]?”

“It is highly likely that the United States and Japan will conclude a new agreement other than GATT.”

“An agreement?”

Jeong Hyun-woo nodded.

“A new agreement will be concluded with Japan, Germany, and several other countries participating.”

“Hmm, the United States will benefit from that agreement.”

“Because it’s an agreement for that.”

The agreement Jeong Hyun-woo predicted was the Plaza Accord. And historically, the Plaza Accord was less than a year away.