The Conglomerate Family Became A Villain [EN]: Chapter 156

156. Highway (1)

Lyra Marine sighed softly after receiving the same offer from Sarah that Jung Hyun-woo had extended to JP Morgan.

“Haa… So, you’re saying that all financial companies will be using Victoria Corporation’s services under the same conditions as us?”

Sarah nodded.

“Charlie wants to preempt the market rather than relinquish several years of technological advantage.”

“Wasn’t the market already preempted?”

“Victoria Corporation’s market share is still less than 10%.”

Currently, Victoria Corporation was the only company officially providing real-time stock services.

In other words, Victoria Corporation’s market share could technically be considered 100%.

However, Sarah was stating it was less than 10%.

‘Not 100% but 10%. If the scope is expanded to include all financial companies on Wall Street, maybe Miss Hilton’s mentioned market share will become accurate. That means…’

Lyra Marine narrowed her brows and asked.

“Does Charlie really want to dominate Wall Street?”

She had thought Jung Hyun-woo was aiming to control American finance single-handedly.

Sarah answered calmly.

“We don’t aim to dominate finance, but to expand our market share as much as possible.”

Lyra Marine realized Jung Hyun-woo was targeting not only securities firms but also banks, investment firms, and insurance companies.

‘The power to make that possible lies in the network.’

As of 1980, financial companies were increasingly expanding their online systems. This shift in the financial system was leading to services like money transfers without the need for checks.

“You’re not just targeting the real-time stock system.”

This time, Robert spoke instead of Sarah.

“Victoria Corporation’s goal is a new future. Our future isn’t limited to the stock exchange. We will improve banking services and provide new opportunities and possibilities.”

Lyra Marine could see the path Jung Hyun-woo was forging.

‘Charlie is planning to monopolize the network system used by securities firms, banks, and all financial companies.’

She clasped her hands together and said.

“An ambitious plan.”

Robert could tell she wasn’t opposed to their vision.

“If successful, Bank of America will also benefit greatly.”

“With a 10% stake?”

Robert answered.

“Victoria Corporation has no plans to issue new shares.”

Lyra Marine asked, her hands still clasped.

“If you don’t issue new shares, how will you raise investments?”

“Mr. Jung has decided to give up his shares.”

Instead of issuing new shares, Jung Hyun-woo, the largest shareholder, would sell his shares to new investors.

This would reduce Jung Hyun-woo’s stake more significantly than issuing new shares.

“Is this Charlie’s gamble?”

“Charlie said that investors won’t follow unless he gets his hands dirty.”

“That’s right.”

Lyra Marine thought of Jung Hyun-woo as an Alexander the Great [a historical figure known for his ambition and strategic genius].

‘His thinking and judgment are impossible to fathom at that age.’

Giving up his share to attract investors.

Even if the idea originated from others, the decisiveness to embrace it deserved high praise. Moreover, Jung Hyun-woo hadn’t simply accepted someone else’s suggestion; he had conceived this plan himself.

* * *

Jung Hyun-woo received a call from Michael Dell, the CEO of PC’s Limited, in New York.

“Michael?”

“Charlie, we have a big problem.”

Michael Dell and Jung Hyun-woo, being the same age, hadn’t met often, but they had become close enough to speak informally after a few meetings.

“What’s the big problem?”

“We’re starting to run a deficit.”

Jung Hyun-woo frowned.

‘A deficit?’

PC’s Limited, founded by Michael Dell, was the predecessor of Dell Computer, and it shouldn’t be running a deficit yet.

‘Could history have changed?’

Until now, his involvement hadn’t altered the course of history.

‘But there’s no guarantee that will always be the case.’

Could his investment in PC’s Limited turn out to be a failure?

He narrowed his brows and asked.

“Michael, how much of a deficit are we talking about?”

“Two thousand dollars.”

Jung Hyun-woo tilted his head.

“That’s not a problem, is it?”

He thought Michael Dell was exaggerating.

‘Maybe he just wanted to call and fabricated a reason?’

Just as Jung Hyun-woo was inwardly clicking his tongue, Michael Dell raised his voice.

“That’s the deficit from one RAM [Random Access Memory, a type of computer memory].”

One RAM.

Jung Hyun-woo realized what he was talking about.

“You’re saying the price of DRAM [Dynamic Random Access Memory, a more specific type of RAM] is plummeting.”

“That’s right.”

“And PC’s Limited signed a large DRAM supply contract with Samjung Electronics at a high price this year because of me.”

Michael Dell nodded repeatedly.

“Exactly.”

PC’s Limited was satisfied with the first batch supplied by Samjung Electronics and had even signed a second contract to expand the supply. However, the price of DRAM plummeted, and PC’s Limited’s pre-orders turned into a loss.

“How much has it dropped?”

At Jung Hyun-woo’s question, Michael Dell spread his fingers. Of course, Jung Hyun-woo couldn’t see his gesture because he was in New York.

“It was $3.5 when we signed the contract, but now it’s only $1.5.”

It was a shocking price cut.

‘It’s dropping that much in less than half a year?’

Jung Hyun-woo raised his eyebrows and asked.

“Really?”

“Why would I lie to Charlie?”

“That’s severe.”

The drop in DRAM prices was greater than expected.

‘Is this right?’

Just as Jung Hyun-woo narrowed his brows, Michael Dell lowered his voice and said.

“Charlie, our company isn’t as rich as Victoria Corporation. If we don’t break the contract with Samjung Electronics, the losses will accumulate by December.”

He wanted to break the contract with Samjung Electronics even if he had to pay a penalty.

“Michael.”

“Have you decided?”

“Yes, I’ve decided.”

“It would be better to break it and pay the penalty, right?”

He believed it was best to break the contract while still paying the penalty, as a contract was a contract.

“There’s no cancellation.”

It was an answer that greatly deviated from Michael Dell’s expectations.

“What?”

He couldn’t help but raise his eyebrows.

“Charlie, I told you, our company doesn’t have as much money as Victoria Corporation. We can’t afford to lose thousands of dollars every month on one DRAM.”

Jung Hyun-woo took a breath and said.

“I’ll lend PC’s Limited $100,000 every month without interest.”

Michael Dell raised his eyebrows.

“Even if it’s an interest-free loan, a loan is a loan.”

He argued that he couldn’t accept it because it wasn’t simply free money.

“What if I lend it for 10 years?”

“10 years?”

“How about it? Does it sound tempting?”

If you could use $1 million interest-free for 10 years, the interest you could save would amount to hundreds of thousands of dollars.

‘It’s much bigger than the loss from DRAM.’

PC’s Limited could see a benefit of more than $400,000 from this deal.

Michael Dell said in a cheerful voice.

“That’s fine under those conditions.”

“But there’s a condition.”

Michael Dell clicked his tongue inwardly.

‘Tsk, I knew it. There’s no way the great Charlie would just lend money.’

He asked Jung Hyun-woo.

“What’s the condition?”

“Double the DRAM purchase volume.”

“Double…”

“Even so, it won’t be $100,000 a year.”

$100,000 was only about 25% of the profit PC’s Limited was seeing. Since that was the total cost, the actual loss was only about 15%.

“Okay. I’ll agree to those conditions. But is it okay? Charlie is losing a lot in this deal.”

“Would you understand if I said I received help from Samjung Electronics?”

“Then I can understand.”

Michael Dell could tell that Jung Hyun-woo was Korean.

‘Maybe he’s helping a company from his hometown.’

He thought it was fortunate that this worked out well.

“Is that all you needed?”

“Mostly.”

“Not all, but mostly?”

At Jung Hyun-woo’s question, Michael Dell smiled brightly.

“Our company is trying to enter Europe.”

PC’s Limited, founded by Michael Dell, was dominating the North American computer market.

Since January 1985, PC’s Limited had been breaking its own sales records every month.

“Europe?”

“Not right now, but next year or the year after.”

Jung Hyun-woo realized the real reason Michael Dell had called.

‘He’s asking for support for his entry into Europe.’

He was willing to provide funds if Michael Dell requested them.

“So how much do you need?”

“I have money.”

“You have money?”

Jung Hyun-woo narrowed his brows.

‘Is it the government line that he needs?’

He thought Michael Dell had called because he lacked the connections needed for overseas expansion.

However, what Michael Dell thought he lacked was not that.

“I think I need to change the company name.”

“Company name?”

“It’s a bit…”

Jung Hyun-woo nodded slowly in agreement.

“Yeah. It’s not a name that Europeans would like.”

“So, what do you think about Dell Computer?”

Dell Computer.

Jung Hyun-woo smiled with satisfaction.

‘That name is appearing here.’

He knew that PC’s Limited would change its name to Dell Computer and become a huge success.

“Sounds good.”

“Really?”

“It’ll be fine. I think that name will work in Europe too.”

Michael Dell felt good when Jung Hyun-woo praised the company name that included his own name.

“I knew I could trust Charlie.”

“I think I have a good friend.”

“Of course. And Charlie.”

“Why?”

“Don’t forget the $100,000.”

Jung Hyun-woo said in a firm voice.

“Michael, send the account number or fax properly. I’m busy here, so if you don’t send it first, I’ll forget.”

“Okay. I’ll send it today, so please take care of it.”

Jung Hyun-woo hung up the phone with Michael Dell and sighed deeply.

“Hoo…”

Was it because he had passionately persuaded Henri Arnault of JP Morgan?

His body felt as heavy as waterlogged cotton.

‘I think I need to rest properly.’

Just as he was about to lie down on the bed.

Beep. Beep.

The phone rang.

‘Not many people would call the hotel.’

He narrowed his brows and answered the phone.

“Hello.”

“Charlie?”

The owner of the clear voice was Sarah.

“Sarah, what’s wrong?”

It was to tell him that she had succeeded in persuading Bank of America and Lyra Marine.

“Good job.”

“Why are you talking like that?”

Jung Hyun-woo tilted his head and raised his voice.

“Did I do something wrong?”

Sarah answered in a slightly irritated tone.

“You should be jumping for joy saying, ‘Really!'”

Jung Hyun-woo chuckled.

“Because I knew Bank of America would accept those conditions.”

“Phee, you’re saying you knew everything.”

“Sarah, aren’t you going to ask how things went here?”

Sarah replied in a sulky voice.

“Would you fail when Charlie went?”

“Aren’t you trusting me too much?”

“If I don’t trust Charlie, who would I trust?”

Jung Hyun-woo shrugged.

“I’m grateful that Sarah trusts me. But don’t trust me completely. I failed big last time.”

“During the Bank of America deal?”

“I didn’t properly anticipate JP Morgan’s reaction at that time.”

Jung Hyun-woo had thought he could persuade JP Morgan with reasonable conditions.

However, JP Morgan rejected the conditions he presented and declared an all-out war.

“Charlie, when are you coming back?”

“I’m thinking of going back on the evening flight tomorrow.”

“Aren’t you meeting Aria?”

“I have to meet Citibank, so I don’t have time this time.”

Having obtained the consent of JP Morgan and Bank of America, all that remained was to engage in formal negotiations with Citibank.

“I’m scheduled to return on the morning flight tomorrow.”

“Then Sarah will arrive sooner.”

“Will we be able to see each other in the evening?”

Jung Hyun-woo replied in a low voice.

“The plane may be delayed, so don’t wait up and go to sleep.”

Sarah nodded.

“Okay. I’ll go to sleep without waiting.”

She hung up the phone and thought.

‘Hmm, is it just my imagination? I feel like his voice is getting deeper than before.’

It wasn’t just her imagination.

Jung Hyun-woo was growing from a boy into a man.

* * *

Citigroup Center.

Citigroup’s headquarters, located between 53rd Street and 3rd Avenue on Lexington Avenue in Manhattan, New York.

This skyscraper was completed in 1977, so it was considered a new building in 1985.

“It’s an amazing building.”

At Jung Hyun-woo’s compliment, Citigroup CEO Moses Mount smiled.

“When it was completed, it was the seventh tallest building in the world.”

Unlike existing skyscrapers, Citigroup Center had a unique design, tilting the top floor line at a 45-degree angle.

“Is it the epitome of modernism?”

“Hahaha, I didn’t expect to hear that from you.”

Moses Mount was in a good mood because he was confident about this deal.

“I’m not just saying it. Citigroup seems to be heading towards the 21st century.”

Moses Mount realized there was a hidden meaning in Jung Hyun-woo’s words.

“Heading towards the 21st century. It sounds like we need to have a more modern system.”

Jung Hyun-woo smiled.

“I didn’t mean it that way, but Citigroup and the 21st-century network system seem to go well together.”

“The 21st-century network system. Is that different from CitiService?”

Jung Hyun-woo nodded.

“CitiService provides real-time stock and investment information, but the network system will provide everything a bank needs.”

“Everything a bank needs?”

“Money transfers and remittances, as well as account openings and currency exchanges, will all be possible through the network.”

Moses Mount doubted his words.

‘It’s difficult now, but it will happen someday.’

He received Jung Hyun-woo’s words with a measured response.

“If that world comes, all offline branches will disappear.”

Jung Hyun-woo shook his head.

“Offline branches are still needed.”

“Even though banking can be done on the network?”

“Offline work won’t completely disappear.”

Jung Hyun-woo had witnessed the birth of online banking. But even after online banking was born, offline branches did not disappear.

“You’re talking like someone who has seen the future.”

Jung Hyun-woo felt that Moses Mount’s intuition was sharp.

“Unlike artists, businessmen must specifically predict the future.”

Moses Mount gave a faint smile.

“More than expected.”

“Are you talking about predicting the future?”

“No, I’m talking about you.”

Moses Mount had initially frowned when he heard Jung Hyun-woo’s age and said this.

– Don’t lie. It’s a deceptive tactic to put a child forward to deceive the other party.

He actually thought that Robert or Sarah were running the company.

But after meeting Jung Hyun-woo, he realized he was wrong.

‘The feeling is different.’

The feeling emanating from Jung Hyun-woo was the prudence of a seasoned businessman.