The Conglomerate Family Became A Villain [EN]: Chapter 146

146. Time to Decide (4)

While the leaders of the United States and Japan were holding a summit, American business leaders were engaged in a subtle war of nerves with their Japanese counterparts.

“The U.S.’s trade pressure is too strong.”

“It’s a blatant attempt to keep Japan in check, and it’s as if we’re not being treated as allies.”

Japanese business leaders grumbled about the U.S.’s trade pressure, including semiconductor agreements.

American business leaders didn’t just stand by.

“Isn’t Japan pursuing unfair trade practices?”

“The government is handing out subsidies like crazy. How can this be called fair competition?”

“We’re trying to correct what deviates from free competition, and to call that trade pressure is a bit much.”

Jeong Hyun-woo was assigned a seat at the very end, thanks to his late arrival.

‘It’s not my place to step in anyway.’

He simply observed the economic battle between the two countries’ business leaders.

“Boring, isn’t it?”

The one who asked Jeong Hyun-woo the question was Harold Byrne, head of strategic planning at Johnson & Johnson.

He was also James Burke’s replacement, so he didn’t actively share his opinions.

“It’s okay.”

“This is the first time I’ve seen representatives from both countries exchange opinions so fiercely.”

If it hadn’t been for 1985, the American and Japanese business leaders would have spent their time exchanging pleasantries and then ended the meeting.

But 1985 was special. The business leaders of both countries were at the forefront of the economic war.

They verbally sparred, each trying to gain an advantage.

Harold Byrne clicked his tongue and said,

“Mr. Wood is no joke either.”

IBM Vice President John Wood was focusing on the price offensive of Japanese electronics companies.

Jeong Hyun-woo agreed with Harold Byrne’s words.

“He’s completely different from when he talks to us.”

“Maybe that’s his true self.”

John Wood felt like a friendly senior on the plane. But here, he was like a gladiator in the Colosseum [an ancient Roman amphitheater known for gladiatorial contests].

“It seems like not just anyone can become the CEO of a global company.”

“Mr. Jeong is already a global CEO.”

Jeong Hyun-woo raised his voice slightly.

“Me, you mean?”

“The fact that you were invited here is a big deal in itself.”

As Harold Byrne said, there wasn’t a single person here who was easy to deal with.

‘There isn’t a CEO of a company with a market capitalization of less than $10 billion here.’

Even Victoria Corporation, which had not yet gone public, was estimated to be worth well over $10 billion.

“Mr. Jeong, what are your thoughts on the IT industry?”

The one who addressed Jeong Hyun-woo was John Wood.

“Are you asking for my opinion on how I view Japan’s dumping [selling goods in a foreign market at a price lower than its domestic price]?”

John Wood nodded and said to Jeong Hyun-woo,

“We would appreciate it if you could testify to how severe Japan’s dumping offensive has been.”

Jeong Hyun-woo took a deep breath.

‘Hoo… I thought I could just sit here and be done with it.’

From the beginning, the Japanese business leaders had found it strange that a young Asian man was representing American business leaders.

“Is he Chinese?”

“If he were Japanese, we would have known.”

Noda Ikeru, a CEO who was well-versed in American news, whispered to his colleagues.

“Mr. Jeong is the CEO of Victoria Corporation. He’s not someone to be trifled with.”

Victoria Corporation.

It was an unfamiliar name to manufacturing CEOs. But it was a familiar name to those in finance.

“Ah, so that young man is the CEO of Victoria Corporation?”

“He’s really young.”

While the Japanese business leaders were talking, Jeong Hyun-woo began his story.

“In the IT industry, Japan’s dumping offensive wasn’t limited to semiconductors. Japan’s dumping was also significant in the game cartridge sector.”

There was an immediate backlash from the Japanese IT industry.

“The price of game cartridges had already plummeted when we entered the North American market!”

“That’s right! How can you call it dumping when the cartridge price is less than $5?”

“Please retract your statement!”

Jeong Hyun-woo turned his gaze to them and said,

“The cartridges under $5 that you’re talking about were overproduced inventory. In other words, they were unsalable, bad stock. Let me ask you. Were the cartridges exported from Japan to the United States overproduced inventory? As far as I know, the games exported to the United States were big hits in Japan.”

The fact that America’s bad stock and Japan’s hit games were being sold at the same price was, in itself, dumping.

The Japanese businessmen couldn’t strongly refute Jeong Hyun-woo’s words.

“Th, that is…….”

“We were just matching the cartridge prices in the American market.”

John Wood thought that Jeong Hyun-woo had landed a great blow on the Japanese side.

‘He’s not a guy who’s just going to sit and listen.’

He didn’t just end with admiration but launched a support fire for Jeong Hyun-woo.

“Matching the cartridge prices being traded in the American market? The Japanese marketing managers I know are meticulous and analytical. Would they have simply said, ‘Since it’s trading for less than $5, let’s sell it for less than $5 too?’ They would have already known all the circumstances Mr. Jeong talked about. Nevertheless, they set the same price as the inventory, less than $5. Why did they do that? The reason is obvious. It was to destroy the American cartridge market.”

The Japanese business leaders immediately retorted to John Wood’s words.

“That’s speculation!”

“That’s too much!”

“We cannot agree!”

Jeong Hyun-woo’s argument didn’t end with the cartridge price.

“The problem with Japanese companies isn’t just the cartridge price. They are demanding excessive fees from American partners. Such fees are something even Atari didn’t think of in the past.”

He targeted Nintendo, his partner and collaborator.

‘Even though they’re partners, the fees are too high.’

If he could lower the fees even a little bit in this way, it could be said to be a worthwhile deal.

A Japanese businessman who knew about Nintendo’s fees defended them.

“The fees required of third parties are the same in Japan and the United States. We are not making excessive demands only on American companies.”

He meant that since Japan and the United States were the same, it wasn’t an unfair trade.

Jeong Hyun-woo turned his gaze to him.

“Let me ask you. A Japanese company demanded the same thing in the United States as it does in Japan, so why can’t our American companies do the same business activities in Japan as they do in the United States?”

His question was aimed at Japan’s protectionism, not Nintendo’s fees.

Voices supporting Jeong Hyun-woo’s remarks erupted one after another from the American side.

“That’s right! Japan wants to continue doing what they used to do in Japan, but we can’t do that in Japan.”

“This can only be described as a one-sided deal!”

“The Japanese government must fully open not only the agricultural market but also all markets.”

The faces of the Japanese business leaders darkened. They tried to defend Japan’s protectionism in any way they could, but the high voices of the American business leaders made their defense pale in comparison.

The meeting ended up being a two-hour free-for-all without finding any common ground.

The time when the businessmen’s meeting ended.

President Reagan and Prime Minister Nakasone issued a formal statement that the two countries had agreed on economic cooperation between the United States and Japan.

Jeong Hyun-woo raised his voice at the end of the statement.

“Is that all there is?”

Harold Byrne answered his question.

“There must have been more discussion behind the scenes than we had.”

“Behind the scenes, you mean?”

“The White House staff, I mean.”

The diplomats and economic staff of the Reagan administration.

They were the center of this meeting.

Jeong Hyun-woo wanted to meet them the most. But he didn’t have a chance this time.

‘They must have been too busy negotiating with the Japanese staff.’

He said, soothing his disappointment inside.

“I hope the U.S. government has gained something substantial.”

Harold Byrne asked, as if surprised.

“Is Mr. Jeong also concerned about this negotiation?”

“I am also an American businessman. Of course, I am concerned.”

Jeong Hyun-woo’s nationality was South Korean, but the nationality of Victoria Corporation, which he owned, was American.

* * *

Around the time President Reagan’s statement was being released, Victoria Corporation unveiled a new JP service.

JP Morgan customers were wide-eyed at the new service offered by Victoria Corporation.

“There’s more information displayed on the computer!”

“What’s this below…….”

“It’s today’s price of Texas crude oil!”

Being able to check international oil prices on a computer.

In 1985, it could be called another revolution.

“Amazing! How did they think of making something like this?”

“Because it’s Victoria Corporation.”

Customers using JP service praised Victoria Corporation’s innovation.

“It’s not just international oil prices that you can check. You can also check wheat and gold prices.”

“Are these soybeans and corn here?”

The international raw material prices provided in the latest version of JP service amounted to more than 10 types.

Lyra Marine took a long sigh after checking the latest version of JP service.

“Hoo……. Charlie delivers what he promises.”

The new JP service contained the content that Jeong Hyun-woo had told her.

“Mr. Jeong is a really great developer.”

“I wish we had someone like him in our company.”

“Wouldn’t it have been more advantageous for Miss Marine if there wasn’t someone like Mr. Jeong?”

Lyra Marine frowned at her secretary’s words.

“It would have been more advantageous for me if Charlie wasn’t here?”

“Because he would have become a strong competitor threatening Miss Marine.”

Lyra Marine sighed briefly.

“If there is someone as talented as Charlie, I don’t mind working under him.”

She wasn’t a woman who insisted on being a leader unconditionally.

“Miss Marine, that’s not what the chairman wants.”

Lyra Marine’s new secretary, Jessie, was not just someone who helped her with her work.

She was a tool that Giannini had prepared for Lyra Marine’s rise.

Lyra Marine said, supporting her head with both hands.

“Isn’t what my grandfather wants is for me to marry into a decent family?”

“Miss Marine…….”

“In the end, I’ll end up like Kani.”

Jessie hardened her voice and said,

“If the chairman wanted that, he wouldn’t have sent me.”

She was a top student who graduated second in her class from Oxford.

“Really?”

“The chairman cherishes Miss Marine more than anyone else.”

Lyra Marine sighed long.

“Hoo……. Even if it’s a lie, I want to believe those words now.”

She turned her gaze back to the monitor.

‘Charlie is really a genius. To create something like this.’

While Lyra Marine was admiring Jeong Hyun-woo’s new program, Kyle Montana, the big head of Morgan Stanley, frowned deeply.

“What have we been doing while they’ve been developing new weapons?”

Howard Robinson was the one who bowed his head at his cry.

“I’m sorry.”

Howard Robinson had instructed Herrell Kahn and Louis Nolan to copy JP service.

However, the JP service replica failed to run three times during the testing process.

In the meantime, Victoria Corporation released a new version of JP service.

This version was not simply fixing bugs and signaling systems. To put it a little exaggeratedly, it could be said to be version 2, with many changes.

“Do you know how much money you get in a year?”

“…….”

“It’s a whopping $2 million! Do you know where that money comes from?”

Howard Robinson asked cautiously.

“Doesn’t it come from the chairman’s pocket?”

Kyle Montana frowned.

“It’s not my pocket, it’s the customers’ pockets! We have an obligation to return the money we receive from our customers with better service!”

He raised his voice as if he couldn’t forgive Howard Robinson’s failure.

“…….”

Howard Robinson had nothing to say about the repeated failures.

“Bring them!”

Howard Robinson raised his head at Kyle Montana’s cry.

“Bring them, you mean?”

“I’m talking about the two who keep failing!”

The ones Kyle Montana told them to bring were Herrell Kahn and Louis Nolan.

20 minutes later.

Herrell Kahn and Louis Nolan arrived at Kyle Montana’s office.

“Did you call for us?”

Kyle Montana nodded and gestured with his right hand.

“Sit down.”

He was in a calmer state than when he raised his voice to Howard Robinson.

However, his face was still red.

“Tell me.”

Herrell Kahn and Louis Nolan had only heard from Howard Robinson that he was very angry.

“If it’s the development schedule, it’s still in the testing stage.”

Kyle Montana took a long sigh after hearing Herrell Kahn’s words.

“Huh…….”

He took a breath and continued.

“Tell me the reason why you haven’t been able to create the same service as them yet.”

He was asking for the reason why he was failing to copy JP service.

Herrell Kahn said, watching his mood.

“The development time is too short.”

Kyle Montana widened his eyes at his words.

“The development period is short?”

“Victoria Corporation has been developing JP service for a much longer time than us.”

Kyle Montana asked again.

“So you’re asking for more time?”

“I think we’ll need at least half a year.”

“Are you saying that our customers have to wait another half a year to provide the same service as them?”

Herrell Kahn lowered his voice and replied.

“Half a year to pass the test.”

Not half a year to start the official service, but half a year to pass the test.

Kyle Montana couldn’t stand it. His roar erupted once again from his mouth.

“What! Are you even saying that right now?”

Herrell Kahn prostrated himself as if he knew this would happen.

“I’m sorry.”

“Leave the company with Howard right now!”

“That is…….”

Louis Nolan, who had only been listening until now, opened his mouth.

“Mr. Montana, without a genius like Charlie Jeong, this is a project that won’t end within 1 or 2 years.”

Kyle Montana turned his gaze to him.

“You need a genius?”

“JP Morgan also thought it was difficult to replicate the system, so they spent $1 billion on Victoria Corporation.”

Kyle Montana knew that JP Morgan and Bank of America had invested $1 billion in Victoria Corporation one after another.

“So, the two companies gave up because it was difficult to replicate JP service and offered $1 billion?”

He was interpreting the two companies’ investments as surrender.

“To put it bluntly, yes.”

“Is Victoria Corporation that great of a company?”

“It’s not Victoria Corporation that’s great, it’s Charlie Jeong who’s great.”

Kyle Montana frowned.

“Why haven’t I heard of such a great guy until now?”

Louis Nolan shrugged and replied.

“Charlie Jeong’s name has already appeared several times in Forbes and Fortune [leading business magazines].”

Kyle Montana put his hands together and frowned.

“Are you telling me to read newspaper articles?”

“Mr. Montana, don’t underestimate JP Morgan and Bank of America.”

Louis Nolan faced Kyle Montana’s blazing eyes head-on.

‘I don’t care if I get fired here.’

After leaving JP Morgan, he became a man who didn’t think about the future.

Kyle Montana laughed loudly when Louis Nolan didn’t avoid his gaze and faced him.

“Hahahahahahaha! You’re an interesting guy.”

Then he slammed the table with both hands.

Taang!

“I’ll give you as much money as you want, so bring me a genius who can compete with him!”

Kyle Montana, the big head of Morgan Stanley, had no intention of backing down here.