The Conglomerate Family Became A Villain [EN]: Chapter 134

134. Hoist the Sails High (1)

Sarah and Jung Hyun-woo sat down in the hotel lobby.

“So, you’re saying JPMorgan allowed Victoria Corporation to go public even before the company’s valuation came out?”

“It probably means they have no choice anyway.”

Sarah thought that if this was the case, they shouldn’t have dragged their feet.

‘Was the valuation just a tool to buy time?’

Her suspicion had some basis.

“Could someone from above have put pressure on them?”

Sarah raised her voice at Jung Hyun-woo’s question.

“Someone pressured Mr. Arnault?”

“Mr. Arnault has consistently insisted that the valuation should be close to $20 billion. The fact that they decided to go public before the valuation came out means that external factors must have been involved.”

Sarah crossed her arms and added.

“Hmm, the deal with Bank of America might have provoked someone.”

The people above Henri Arnault.

The only ones who could do that were the JPMorgan board and JPMorgan’s chairman, Arthur Morgan.

“Sarah.”

“Why? Do you have another thought?”

Jung Hyun-woo replied in a soft voice.

“Let’s not overthink it. JPMorgan has allowed us to go public, and all we have to do is grow the company well.”

“You mean, let’s not get into complicated head games.”

“That’s not our specialty.”

Sarah nodded at his words.

“That’s true.”

Corporate mergers and IPOs were not really their area of expertise.

Jung Hyun-woo specialized in developing IT technology for the future, and Sarah’s main role was to support him.

“Let’s focus on what we’re going to do next.”

Sarah unfolded her arms and said.

“What I saw in Laura’s lab earlier. Is that really a Microsoft program?”

“If Laura said so, it probably is.”

Jung Hyun-woo knew that Microsoft’s Windows operating system would dominate the computer operating system market in the future.

‘Free-riding is out of the question, but can’t we pay the fare and get on that bus?’

He was thinking about Microsoft’s Windows operating system when Sarah raised her right hand and said.

“If Charlie wants, I can contact Microsoft from our side.”

“Pardon?”

“You said earlier that JP Services should work on the new operating system.”

Jung Hyun-woo nodded and agreed with her.

“I did.”

“Instead of continuing boring conversations with JPMorgan, let’s try to approach Microsoft.”

“It would be great if we could.”

Jung Hyun-woo thought that if he succeeded in collaborating with Microsoft, he wouldn’t have to worry for at least 20 years.

‘It’s not just about not worrying. If we become their main partner, Victoria Corporation’s future will be on the path to glory.’

Of course, Microsoft might not allow Victoria Corporation to ride their bus.

In the 1990s, they tried to monopolize everything.

Maybe they would even try to enter the same field as JP Services.

But Jung Hyun-woo decided not to think about that. As far as he knew, Microsoft had little interest in the financial market.

‘Microsoft will be busy enough with operating systems, Office, and the cloud.’

Jung Hyun-woo wanted to entrust this task to Sarah for now.

* * *

“I don’t think I’ll be able to make it home for the holidays this year either.”

At Jung Hyun-woo’s words, Chief Hong Won-ik sighed deeply.

“Hoo… Aren’t you neglecting this side too much?”

Chief Hong Won-ik now knew that Jung Hyun-woo had started a big business in the United States. But he still thought he should come to Korea at least once a year.

“I can’t take time off because of CES [Consumer Electronics Show] at the beginning of the year.”

Victoria Corporation announced its participation in CES for the first time in 1985.

They were planning to announce the new version of JP Services and American Services, which would be available in 1985, at CES.

This new version was also deeply related to Victoria Corporation’s IPO in the first half of the year.

“The Chairman will be disappointed.”

“I’ll visit him after CES is over.”

“In February?”

“It might be the end of January.”

Chief Hong Won-ik nodded.

“Okay, then tell the Chairman that you’ll be back in late January or early February.”

“Please tell him that.”

Chief Hong Won-ik wanted to ask one more thing before hanging up.

“Hyun-woo.”

“Is there anything you want to say?”

“Are you sincerely pushing Min-young?”

Chief Hong Won-ik was working with Jung Min-young on Jung Hyun-woo’s recommendation.

“You can work with my little uncle, Chief.”

“If Min-seok inherits the Chairman’s position, everything will be over.”

Jung Hyun-woo calmly accepted his words.

“Everything will be over? If that happens, I’ll create a position for you, Chief.”

“A position for me?”

“Wouldn’t the head of the Korean branch of Victoria Corporation be good enough?”

Chief Hong Won-ik clicked his tongue inwardly.

‘Tsk, the head of the Korean branch of an American company.’

It wouldn’t be a bad position if the salary was right.

‘Tsk, get a grip. I’m relying on a kid who’s not even twenty yet.’

At Jung Hyun-woo’s suggestion, Chief Hong Won-ik decided to think of it as insurance against the worst-case scenario.

“For now, I’ll try to make sure Min-young becomes the successor.”

“Thank you.”

Chief Hong Won-ik thought after hanging up the phone.

‘It’s a predetermined path anyway.’

He couldn’t turn the ship around and approach Jung Min-seok now.

“That’s right. Min-seok is too quiet.”

Executive Director Jung Min-seok was currently focused on work in the Middle East. Perhaps that was why his attendance at executive meetings and board meetings had recently decreased significantly.

“But Min-seok won’t just sit still.”

Chief Hong Won-ik predicted that Executive Director Jung Min-seok would make some kind of move before the end of the year.

* * *

To summarize the second half of 1984, it was a time of chaos.

International oil prices fell sharply, and international stock markets fluctuated due to issues with Japan and Germany.

Still, one thing was clear: the United States was trying to do something.

This could be seen in the meetings of foreign ministers from various countries.

Not only Wall Street, but also ordinary people were saying that something would happen next year.

“Is it right to continue investing in Japan?”

Robert was worried about Jung Hyun-woo’s continued investment in Japan.

“Various indicators are pointing to Japan’s economic rise.”

“The indicators are good, but the rumors are not.”

Robert thought that if the CEO’s asset management became difficult, it could cause problems for the company’s management.

‘Right now, Victoria Corporation can’t be thought of without Charlie.’

Jung Hyun-woo was Victoria Corporation, and Victoria Corporation was Jung Hyun-woo.

“Robert seems very worried.”

Sarah was as calm as Jung Hyun-woo.

“Sarah, say something.”

Sarah put her hands together and said.

“I invested in Japan this time too.”

Robert covered his eyes with his hands at her words.

“Good heavens.”

He thought this couple was getting bigger and bigger.

“Robert, why don’t you consider investing in Japan too?”

The Japanese economy was now past its peak and heading towards a bubble.

Anyone with intelligence could see that.

“Riding theme stocks is not a good investment.”

“Is that so?”

“It would be better to invest in something more solid. For example, U.S. Treasury bonds.”

Jung Hyun-woo said, reviewing the report that came up in the morning.

“At a time when interest rates are falling, Treasury bonds are no longer an attractive investment.”

The United States was lowering interest rates and releasing money to stimulate the economy. Japan’s boom was intertwined with these U.S. policies.

In other words, Japanese companies were sucking up the money that the U.S. government had released to stimulate the domestic economy like a vacuum cleaner. And that money flowed back into Japan.

The U.S. trade deficit with Japan grew to its largest size, and voices criticizing the U.S. government’s incompetence grew in various industries.

“Charlie, the next negotiation won’t end with just semiconductor negotiations.”

Semiconductor negotiations.

Japan was not just selling cars and electronics.

With its excellent technology, it was trying to devour the U.S. semiconductor market.

In response, the United States barely managed to prevent Japanese companies from entering the U.S. semiconductor market by preventing the Japanese government from supporting the semiconductor industry.

“That’s highly likely.”

Robert raised his eyebrows at his words.

“No, are you saying that someone who knows all that is investing hundreds of millions of dollars more in Japan?”

Jung Hyun-woo invested all the money he received from Bank of America in Japanese real estate funds.

“Timing is important for investment.”

“It’s all over when the news breaks.”

Jung Hyun-woo raised his voice as he turned to the second page of the report.

“What if you could know before the news breaks?”

“Hmm… Are you saying you have connections with the U.S. government?”

Jung Hyun-woo had met with Federal Reserve Board members and IMF [International Monetary Fund] Deputy Managing Directors, but he did not have connections with the government.

But he nodded to reassure Robert.

“Shall we say I have a steel hook, not just a connection?”

Robert raised both hands above the table as if surrendering.

“If you’re prepared to that extent, well, I have nothing to say.”

He didn’t like that Jung Hyun-woo was connected to government officials.

‘When a company is connected to the political world, there are more bad things than good things.’

Robert also didn’t like that Jung Hyun-woo was involved with the CIA [Central Intelligence Agency].

“Robert.”

“Are you saying I’m too worried?”

“No.”

“Then?”

“This Lambda that we’re releasing this time.”

Lambda was Victoria Corporation’s game title that John River was preparing as his masterpiece.

Robert’s eyes narrowed.

“You’re talking about work.”

Jung Hyun-woo raised his right index finger and raised his voice.

“Isn’t this place originally for talking about company matters?”

“That’s true, but…”

“Lambda’s release date is December 14th, is that okay?”

Robert answered his question.

“It’ll be fine. I know they’ve done a lot of beta testing.”

“You’re saying that the completion isn’t falling behind because you’re rushing to release it at the end of the year.”

“It’s not that we’ve moved up the schedule for the year-end release, but that we’ve delayed the schedule from Black Friday.”

It was an explanation that they had delayed the schedule from Black Friday, rather than moving up the schedule for the year-end release.

“I understand.”

He thought the success of Lambda was very important to Victoria Corporation’s game division.

‘If Lambda fails, Victoria Corporation’s game division’s independent content production will shrink.’

Victoria Corporation had secured considerable IP [intellectual property] from Activision and Atari.

If its own developed content failed, Jung Hyun-woo would have no choice but to shift its direction to utilizing the IP it had already secured.

“How is the Activision acquisition going?”

Robert asked Jung Hyun-woo back.

“Are you really acquiring it?”

“You don’t need a lot of money for the acquisition, do you?”

Activision was already a bankrupt company.

If they took the direction of acquiring the debt, they could get a good price from the creditors.

“Haven’t you secured a significant portion of the IP?”

“We’ve secured the IP, but we haven’t secured the production staff.”

Robert realized what Jung Hyun-woo was thinking.

‘Charlie is trying to use Activision’s development staff to produce sequels to the IPs he recently secured.’

He put his hands together and said.

“The North American game market is better than last year, but I don’t think acquiring Activision is too aggressive of an investment.”

Jung Hyun-woo smiled at his opinion.

“Investment is when everyone says it’s difficult.”

He was saying that if you try to invest after the situation has improved, you might miss the timing.

“That’s true, but it’s going to be difficult for at least three years.”

“We can be compensated for those three years for the next 30 years.”

Jung Hyun-woo knew that the slump in the North American game market would not last for three years.

‘When Nintendo enters the North American market next year, the slump in the North American game market will end.’

He knew that Nintendo would cause a storm in the North American game market.

‘It would be nice if we could make titles like Mario here, but that would be shaking history too much.’

The JP service he developed was an application of the 21st century stock trading system, but games like Mario were content with clearly defined IP owners.

Jung Hyun-woo didn’t think it was necessary to touch such content.

“You’re saying you can sacrifice three years for 30 years.”

Jung Hyun-woo nodded and agreed with Robert.

“I said 30 years, but even if it’s only 5 years, it’ll be more than enough to recover the three years of sacrifice.”

“I understand. Then I will actively participate in the acquisition of Activision.”

Sarah asked with a worried look.

“But Robert, are you okay?”

Robert still had many days when he couldn’t go home.

“Are you talking about working hours?”

“No. Your family.”

Money was useless if the family was broken.

“I asked my family to understand for about a year.”

He thought the next year was very important to Victoria Corporation.

‘Over the next year, the IPO and the development of new businesses are scheduled one after another.’

Victoria Corporation’s value could be completely different depending on how it spent the next year.

‘If everything succeeds, Victoria Corporation’s value could exceed $30 billion.’

The stake Robert currently owned was 2%. Even if the shareholding rate drops slightly due to the IPO, if the company’s value reaches $30 billion, his assets will increase to more than $500 million.

‘$500 million. An amount I couldn’t even imagine when I was at Activision.’

Before the oil shock caused inflation, $500 million was the domain of multinational corporations.

“Robert, it’s only for one year.”

Sarah’s words contained sincere concern.

* * *

November.

American game magazines simultaneously published articles about Victoria Corporation’s new game, Lambda.

The articles focused on Lambda’s new action, world view, and spectacular graphics.

– Lambda is a rare masterpiece game.

– This level of game has not been released recently.

– This year-end will be a really enjoyable time for gamers.

However, the users’ reaction was lukewarm.

“Victoria Corporation?”

“Isn’t that the stock side?”

“They made and sold a shooting game a few years ago, but it wasn’t very good.”

Zero Space was a game that sold a lot, but it didn’t have a revolutionary system or scenes that gave a strong impression. Thanks to that, its evaluation decreased over time.

“Lambda. I’m not expecting anything at all.”

“There’s a rumor that the Activision development team moved.”

“Activision? Then I’m even less excited.”

Activision recklessly released new games just before bankruptcy and failed one after another.

Thanks to that, gamers did not have a good view of Activision.

“There’s no need to think seriously. It’s just one more bad game.”

“Well…”

Jung Hyun-woo sighed deeply after hearing the users’ stories in the IT section of a large bookstore.

“Hoo…”

Sarah grabbed his sleeve and said in a small voice.

“Don’t worry about it.”

“I don’t want to worry about it, but it’s true that expectations are falling.”

Jung Hyun-woo and Sarah were out to the bookstore for market research.

Victoria Corporation employees called these outings of the two people the presidents’ dates.

“Shall we move on to the next one?”

Jung Hyun-woo nodded and replied.

“Yes, let’s go to the next bookstore.”

He wanted to check the users’ reactions by going around the bookstores in downtown Boston.

“But Charlie.”

“Yes?”

“Are you really going to spend Thanksgiving vacation at our house?”

“I haven’t been there for several years. I want to say hello to Andrew too.”

Jung Hyun-woo was planning to attend the Hilton family’s Thanksgiving party with Sarah.

‘If I can’t attend this year, it might be even harder next year.’

He expected 1985 to be busier than 1984.