The Conglomerate Family Became A Villain [EN]: Chapter 152

152. Old Life in New York (1)

The president’s office at Daewoon Construction.

Jung Min-seok was surrounded by his loyalists, all of whom firmly believed he was destined to become the chairman of Daewoon Group.

“President Park, so Daewoon Corporation has started accumulating yen?”

Park Kwan, president of Daewoon Precision, nodded in response to Jung Min-seok’s inquiry.

“Yes, that’s the information relayed through an executive at Daewoon Corporation. You can be certain of it.”

Jung Min-seok frowned.

“But why yen, of all currencies?”

His keen interest in Daewoon Corporation stemmed from the fact that his rival, his younger brother Jung Min-young, held the position of vice president there.

“Could they be planning to import something from Japan?”

Jung Min-seok pressed further, his brow furrowed.

“Doesn’t Japan primarily conduct trade in dollars, not yen?”

“There are instances where they use yen for transactions.”

“They’re stockpiling yen for those occasional needs?”

Frankly, the situation was perplexing.

“I’m afraid I don’t have any further information.”

Jung Min-seok sighed softly.

“Haa… President Park, we need to determine the reason behind this yen accumulation to formulate a proper response.”

As President Park Kwan bowed his head apologetically, Jung Sung-jo, the head of public relations for Daewoon Group, interjected, attempting to fill the void.

“I overheard at Daewoon Corporation’s New Year’s meeting that there was a suggestion to maintain a substantial reserve of foreign currency to facilitate smooth imports.”

Jung Min-seok’s frown deepened.

“For smooth imports, huh? It appears they’re procuring something significant from Japan.”

He mused that uncovering the specific item being purchased in such large quantities would be even more advantageous.

‘This shift occurred immediately after Min-young’s promotion to vice president… it’s evident that Min-young is orchestrating this.’

At that moment, Jung Ki-seok, the managing director of Daewoon Construction, tentatively raised his hand.

“President, could they be considering importing electronics from Japan?”

“Japanese electronics? Would that even be feasible?”

As of 1985, Japanese electronic goods were exclusively available in department stores due to import restrictions. These restrictions were slated to be lifted after 1990.

“Given the popularity of Japanese electronics in the United States, I suspect they’re aiming to penetrate the premium department store market here.”

Jung Min-seok tilted his head, unconvinced.

“Even if they succeed in importing Japanese electronics, the impact would be limited.”

In 1985, the sales volume within the premium department store sector was not substantial.

President Park Geon spoke cautiously.

“Could Vice President Jung be acting out of impatience, seeking even a minor victory?”

Managing Director Jung Ki-seok echoed the sentiment, reinforcing the idea.

“As President Park mentioned, I believe Vice President Jung is so driven to achieve quick results that he’s resorting to importing electronics from Japan.”

The consensus was leaning towards Japanese electronics.

‘Is it truly Japanese electronics, though?’

If it wasn’t electronics, he might have entertained the possibility of cars, but importing cars involved a complex certification process, making it an unrealistic endeavor within a year.

‘This doesn’t add up.’

Jung Min-seok concluded that Daewoon Corporation’s yen reserves weren’t a cause for major concern.

“Based on your insights, it doesn’t seem like there’s anything particularly alarming.”

President Park Geon raised his hand, palm upward.

“Daewoon Corporation won’t be able to accomplish much in a year. If we secure a contract in the Middle East this year, we’ll win without a doubt.”

The others in the room nodded in agreement.

“That’s correct.”

“As President Park said, securing the Middle East is all we need for a guaranteed victory.”

Jung Min-seok flashed a confident smile.

“Ultimately, victory will be ours.”

As if on cue, the others responded enthusiastically.

“That’s absolutely right!”

Jung Min-seok observed them, his thoughts concealed.

‘It’s not you who will win, it’s me.’

Sharing the spoils of the succession battle with others?

Unthinkable.

He craved absolute control.

* * *

January 21st.

President Reagan’s inauguration ceremony was broadcast globally. In South Korea, the morning news the following day prominently featured the event.

Shin Young-jin, the president of Samjung Electronics, watched the news in his office alongside the vice president.

“President Reagan’s second term has commenced.”

“The first half was successful, so the second half should follow suit.”

“I believe aligning ourselves with the Republican Party was a wise decision.”

However, Shin Young-jin’s attention was drawn to a subsequent news item.

It highlighted Jung Hyun-woo, a South Korean student in the United States, who had developed a remarkable program and garnered significant acclaim.

The vice president, after catching a glimpse of Jung Hyun-woo’s blurred photo, tilted his head.

“That individual is…”

President Shin Young-jin nodded in affirmation.

“That’s the person I met at CES [Consumer Electronics Show].”

The vice president remained oblivious to the fact that Jung Hyun-woo was also known as Charlie Jung.

“Ah, so that explains your special attention towards him at the event.”

He had no inkling of the agreement between Jung Hyun-woo and President Shin Young-jin.

President Shin Young-jin focused on the news report about Jung Hyun-woo.

“He’s destined to become the most influential figure in South Korea.”

“That influential?”

“Perhaps even more so.”

His influence might extend beyond South Korea, reaching a global scale.

‘Because Charlie Jung, the businessman, is truly exceptional.’

President Shin Young-jin had received a report from the US branch indicating that Victoria Corporation had initiated the IPO [Initial Public Offering] process.

‘If Victoria Corporation’s IPO is successful, he’ll become the wealthiest person in South Korea overnight.’

Jung Hyun-woo had already sold 20% of Victoria Corporation’s shares prior to the IPO, effectively making him the richest man in South Korea already. However, President Shin Young-jin hadn’t fully grasped that magnitude.

“It seems you’ve forged a valuable connection.”

The vice president smiled contentedly.

President Shin Young-jin found his demeanor overly complacent.

‘This is no time for complacency.’

He clasped his hands together, a serious expression on his face.

“The commencement of DRAM [Dynamic Random-Access Memory] exports isn’t entirely positive news.”

With Jung Hyun-woo’s assistance, Samjung Electronics had gained access to the US export market. They were currently in negotiations to sign contracts with several small and medium-sized companies for thousands of units.

‘We need contracts for tens of thousands of units, not just thousands.’

Regardless of the profitability of semiconductors, selling them in quantities of thousands held limited significance.

“President, isn’t this just the beginning? Things will improve in the future.”

President Shin Young-jin frowned.

“International RAM prices are behaving erratically. Monitor them constantly, no, twice a day, morning and evening.”

The vice president nodded in acknowledgment.

“Understood. I’ll monitor them twice daily.”

President Shin Young-jin believed that his fate hinged on the success of the semiconductor business.

‘If the semiconductor business falters, I’ll lose the heir position to my brother.’

His brother was overseeing Samjung Construction, focusing on securing contracts in the Middle East.

Should they secure a large-scale construction project in the Middle East before the semiconductor business achieved success, the chairmanship of Samjung Group would likely be awarded to his brother.

‘I must win, no matter the cost.’

President Shin Young-jin was determined to secure the chairman’s position.

At the same time.

Jung Hyun-woo was meeting with the renowned Vice Chairman Bud Walton at a classic restaurant in New York.

“How are you?”

Sarah was the first to rise from her seat.

“Hello.”

Followed by Jung Hyun-woo.

“Nice to meet you. I’m Charlie Jung.”

Vice Chairman Bud Walton smiled warmly.

“I’ve heard that a young friend has achieved remarkable success.”

“I’ve simply worked diligently.”

Bud Walton settled into his chair.

“We need more individuals like you in the future. Nowadays, young people are overly fixated on university degrees. In my day, we couldn’t even graduate from high school and still managed to launch car companies.”

Aria raised her eyebrows at her father’s remark.

“Father, the world has evolved. It’s challenging to become an expert even with a university education.”

Bud Walton waved his hand dismissively.

“The world hasn’t changed that much. Universities existed in my time as well. Fewer people simply attended them.”

He shifted his gaze back to Jung Hyun-woo.

“I’ve heard a great deal about you from my daughter.”

“About me?”

“Aria holds you in high regard.”

Aria’s face flushed crimson at her father’s words.

“Father!”

Bud Walton chuckled heartily as his daughter protested.

“Hahaha, my daughter’s voice is quite loud.”

As his laughter subsided, a waiter approached.

Bud Walton addressed him succinctly.

“The usual.”

The middle-aged waiter bowed respectfully to the VIP customer.

“Understood.”

Bud Walton was more affable than the rumors suggested.

Jung Hyun-woo perceived him as a generous individual.

‘He’s a big-hearted person.’

Business demanded a comprehensive perspective, encompassing both the grand scheme and the minute details, especially for distribution giants like Walmart.

Bud Walton possessed the ability to grasp both.

“I understand you’ve developed programs for banks and securities firms?”

Jung Hyun-woo nodded.

“That’s currently the focus.”

Bud Walton smiled, probing further.

“Currently, huh? So, you envision creating something else in the future?”

Jung Hyun-woo provided a tailored response.

“I’m also developing programs for distribution companies like Walmart.”

Programs designed for distribution.

Jung Hyun-woo was also conceiving a computer management system for large retail stores and distribution networks.

Sarah and Aria were hearing this for the first time.

“Charlie, you’re developing programs for distribution companies like Walmart?”

“When did you start working on such a program?”

Jung Hyun-woo smiled at the barrage of questions.

“Banks handle money, and Walmart handles goods, correct? The movement of both money and goods is ultimately represented as 0s and 1s on a computer.”

Just as a bank’s cash transactions are digitally recorded, he explained that the sale and distribution of goods in large retail stores could be tracked as computer data.

Bud Walton’s smile vanished.

“Is that feasible?”

Jung Hyun-woo nodded confidently.

“It’s possible using the barcode system developed by IBM.”

Thanks to IBM’s barcode technology, consumers and sellers could access accurate product information.

Bud Walton was well-acquainted with the barcode system.

“Hmm, utilizing that to track the movement of goods.”

Jung Hyun-woo lowered his voice slightly.

“If you integrate it with a large warehouse and a network system, you can accurately monitor inventory nationwide in real time.”

Bud Walton’s interest piqued.

“Similar to checking the stock price of the day on a computer?”

He had experience with the JP system developed by Victoria Corporation.

Jung Hyun-woo spread his hands, elaborating.

“JP Service caters to hundreds of millions of households, but this distribution system targets thousands of retail stores across the country, enabling the display of more precise and diverse information.”

Bud Walton sensed a lucrative opportunity.

“Hmm, managing inventory with a computer.”

Jung Hyun-woo understood his line of thinking.

“If a network system is established… Walmart will be able to supply goods to consumers more affordably and efficiently.”

For distribution companies, efficiency was as crucial as technological innovation for IT companies.

Bud Walton let out a low groan.

“Uhhhmm.”

He hadn’t anticipated such a conversation at his favorite restaurant.

‘If we can manage inventory nationwide with a computer, we can optimize distribution efficiency.’

However, Bud Walton was a traditionalist. He couldn’t fully trust computers and networks.

“I’ve heard that networks are prone to outages. Is it wise to implement it nationwide?”

Jung Hyun-woo addressed his concern.

“That may have been the case in the past. But within five years, the situation will be drastically different.”

Just as Bud Walton was about to inquire about the reason, a waiter arrived with a basket of bread.

He used tongs to distribute the bread.

“Would you like more?”

Bud Walton declined.

“I’m fine.”

The waiter turned to the others.

“Is everyone else satisfied?”

One piece of bread was sufficient for Sarah and Aria. If anyone needed more, it would be Jung Hyun-woo, but he shook his head, focused on the conversation with Bud Walton.

“I’m fine as well.”

The waiter nodded slightly and retreated. As soon as he was gone, Bud Walton turned back to Jung Hyun-woo.

“Charlie, I’m curious as to why you believe the situation will improve in five years.”

Jung Hyun-woo raised his eyebrows as he tore a piece of bread.

“If I simply attribute it to technological advancements, it would be a superficial explanation, wouldn’t it?”

Bud Walton smiled.

“Indeed.”

Jung Hyun-woo nodded.

“Understood. Then I’ll provide a more detailed explanation.”

He began to elaborate as he spread butter on the bread.

“Currently, the national network relies on copper wires. However, the government and the military are actively seeking to replace these copper wires with superior cables. Once this upgrade is complete, the volume, accuracy, and speed of data transmission will be significantly enhanced.”

Bud Walton paused, setting down his bread when the government and the military were mentioned.

“Why are they so invested in the network?”

Jung Hyun-woo answered without hesitation.

“In warfare, information gathering and order transmission are paramount. The network facilitates these functions in any situation.”

1985 marked the height of the Cold War.

The assertion that the network was valuable in warfare was compelling.

‘In fact, the internet’s origins lie in the military.’

Jung Hyun-woo’s statement was grounded in reality.

Bud Walton raised a finger.

“You’re suggesting that in a few years, military technology will become available for civilian applications.”

“Much of the technology we use today has evolved in that manner.”

Bud Walton concurred.

“As you said, war often drives human progress.”

Aria was once again impressed by Jung Hyun-woo’s articulate delivery.

‘Charlie is remarkably skilled in business.’

She realized that Victoria Corporation’s success was no accident.

Jung Hyun-woo added, as if to emphasize his point.

“While I can’t disclose specific details, we are also collaborating with the government on network system research.”

Bud Walton didn’t dismiss his statement.

“A company like yours is certainly capable of such endeavors.”

He believed his daughter possessed a keen eye for talent.

‘He’s no ordinary young man. He’s exceptionally capable.’

Bud Walton valued his business acumen even more than his eloquence.

“Sarah, you have a remarkable friend by your side.”

Sarah smiled.

“He wasn’t a friend, he was a student.”

“Student?”

“I was his private tutor.”

Bud Walton burst into laughter.

“Hahaha, you tutored that friend?”

Jung Hyun-woo interjected, defending Sarah.

“Sarah was an excellent teacher.”

Bud Walton realized they weren’t joking.

“Did Sarah truly tutor Charlie?”

As he blinked in surprise, Sarah responded.

“He’s far surpassed his teacher now.”

Bud Walton glanced back and forth between Sarah and Jung Hyun-woo.

“Teacher and student. An unexpected relationship.”

His words carried multiple layers of meaning.