The Conglomerate Family Became A Villain [EN]: Chapter 162

The Key Returns (2)

Chairman Shin Byeong-cheol of Samjung Group lay in his hospital bed, receiving a report from his son.

“So, if we get help from that fellow, Samjung Electronics can survive?”

President Shin Young-jin nodded twice.

“Father, I’m certain we can survive if we overcome this crisis.”

“Certain?”

“Semiconductors are Samjung Group’s future. We absolutely cannot give up.”

President Shin Young-jin’s determination to lead the semiconductor industry was unwavering.

Chairman Shin Byeong-cheol coughed deeply and sighed.

“Cough… Haa… It seems I don’t have much time left. The future belongs to you, not me, so do as you see fit.”

He permitted his son’s request without thoroughly reviewing the details.

‘What good would it do to oppose it now?’

Confined to his sickbed due to old age, there wasn’t much he could do.

“Thank you.”

Just as President Shin Young-jin bowed his head, the chief of staff approached with hurried footsteps and knocked on the door.

Tap. Tap. Tap.

“Chairman, I’m coming in.”

The chief of staff’s announcement that he would enter without Chairman Shin Byeong-cheol’s consent indicated the urgency of the situation.

“Something must have happened.”

As Chairman Shin Byeong-cheol struggled to sit up, President Shin Young-jin quickly supported him.

“Father, it’s probably nothing serious.”

Click.

The chief of staff opened the door and bowed deeply.

“Chairman, President Shin Young-ho has collapsed.”

Chairman Shin Byeong-cheol’s eyebrows twitched.

“What? Young-ho?”

President Shin Young-ho was his eldest son and led Samjung Construction.

“What are you talking about? Why did Young-ho collapse?”

As Chairman Shin Byeong-cheol raised his voice, the chief of staff, still bowing, replied.

“President Shin Young-ho collapsed after inspecting the Ulsan site. He reportedly suffered simultaneous respiratory distress and cardiac arrest. He’s being transported to Ulsan General Hospital.”

President Shin Young-jin said to Chairman Shin Byeong-cheol.

“I’ll go.”

Chairman Shin Byeong-cheol shook his head.

“No. You take care of the work. Secretary Jang.”

Samjung Group’s Chief of Staff, Jang Seo-yong, straightened up and responded.

“Yes, Chairman.”

“You go to Ulsan.”

“Then what about here…?”

“Aren’t there other staff in the secretariat?”

He meant to assign it to another employee.

“Understood, Chairman.”

Immediately after he left, Chairman Shin Byeong-cheol coughed violently.

“Cough, hah… Haa…”

“Father!”

President Shin Young-jin urgently called for the medical team. Simultaneously, the medical team began CPR [Cardiopulmonary Resuscitation].

That day.

Samjung Group lost both its chairman and the president of its construction division.

* * *

Jeong Hyun-woo frowned upon receiving Choi Kyung-min’s call.

“Chairman Shin and President Shin of Samjung Group passed away simultaneously?”

“It was reported as a news flash.”

Samjung Group’s influence on South Korea was so significant that the chairman’s death was reported as breaking news.

“I must offer my condolences.”

“Shall we send a wreath in your name, young master?”

Jeong Hyun-woo replied in a dry voice.

“No.”

“Then…?”

“Send it in the name of Victoria Corporation.”

“May I use Victoria Corporation’s name?”

“Why wouldn’t you be able to?”

Choi Kyung-min slightly bowed his head at his question.

“Understood.”

Jeong Hyun-woo now believed that the future he knew had come to pass.

‘President Shin Young-jin became chairman without a hitch because his brother and father died simultaneously.’

From the time he became aware, Shin Young-jin was the chairman of Samjung Group.

“Secretary Choi.”

“Yes, young master.”

“How is my grandfather’s health?”

Choi Kyung-min raised his head and replied.

“He’s healthy enough to come to work every day.”

Jeong Hyun-woo was relieved and said.

“If there are any problems with Grandfather’s health, contact me immediately.”

“I will.”

Of course, if there were any issues with Chairman Jeong Woo-sun’s well-being, Jeong Min-young or Chief Hong Won-ik would inform him, even if Choi Kyung-min didn’t.

“One last question.”

“Please, go ahead.”

“What is the domestic political situation like?”

“The political situation…?”

Jeong Hyun-woo asked in a dry voice.

“I’m referring to student protests or the movements of the opposition party.”

Choi Kyung-min sighed briefly before answering.

“The situation isn’t good, with protests and condemnation declarations continuing in various places.”

“Is it like that even with the Asian Games approaching?”

“I think it’s even more so because the Asian Games are approaching.”

With the world’s attention focused on them, it was difficult for the government to resort to strong suppression.

“If a major incident occurs, contact me anytime. Even if I can’t answer the phone, Ann will.”

“Understood.”

Jeong Hyun-woo sighed deeply after hanging up the phone.

“Hoo…”

Chairman Shin Byeong-cheol passes away, and President Shin Young-jin becomes chairman.

‘I should have held onto the Samjung Electronics investment a little longer.’

He thought that the Samjung Electronics equity investment might be disrupted by this event.

Click.

Sera’s footsteps were heard as the door opened.

Jeong Hyun-woo, sitting on the living room sofa, raised his voice.

“Did I wake you up?”

Sera, who was on the second floor, shook her head and replied.

“No. It’s time to get up.”

Jeong Hyun-woo tilted his head at her answer.

“Earlier than usual?”

“I have a business trip today.”

“Ah, the Seattle trip was today?”

Sera asked as she walked towards the bathroom.

“Charlie, isn’t it a gentleman’s courtesy to pretend not to notice when a lady feels uncomfortable?”

Jeong Hyun-woo shrugged his shoulders at her words.

“Younger siblings are naturally clueless.”

Sera chuckled and opened the bathroom door, stepping inside.

“They’re more like a married couple than siblings.”

She yawned and rubbed her eyes.

Spring of 1985.

Victoria Corporation was bustling with activity. The reason she was heading to Seattle today was for a meeting with Microsoft.

“Microsoft, IBM, Commodore, JP Morgan, Citibank, Bank of America, Dell Computer, and Magellan Fund.”

The companies Sera mentioned were all partners of Victoria Corporation.

“Come to think of it, there was also Nintendo.”

Nintendo was the first overseas company Victoria Corporation partnered with.

She wondered if there were too many partners.

“I wish we could cut it in half.”

Of course, Jeong Hyun-woo wasn’t one to cut it in half. Rather, he was planning to exponentially increase the number of partners using the financial modularization system.

While she was preparing for work, Jeong Hyun-woo went up to the second floor and turned on the computer.

Whoo-oong.

The computer Jeong Hyun-woo used was a model he had purchased two years ago.

“Hmm, should I upgrade to a new model this time?”

At the company, he was using the latest desktop computer gifted by Michael Dell.

“No. It’s better to keep using this one at home.”

The reason he wanted to keep using the old computer was to understand the sensations that ordinary users felt.

Beep. Beep-beep-beep. Beep-beep-beep.

A medieval fortress filled the screen along with gloomy music.

“Hmm, the opening isn’t bad.”

This game was about a knight who defeats a dragon.

The game’s title was ‘Dragon Slayer’.

Jeong Hyun-woo played the game using the arrow keys, space bar, and enter key.

‘It seems like mouse control is still a bit early.’

After playing for about three minutes.

He nodded his head emphatically.

“John made it properly.”

This game was better than the previous one.

“If I fix a few things, I can release it right away.”

Jeong Hyun-woo thought he had made the right decision in sending John River to the game division.

His reputation had even improved after moving to the game division.

Was it because he was immersed in what he wanted to do?

The conflicts with subordinates that were often heard from the New York branch were no longer heard.

“Originally, it was what I wanted to do.”

Developing the financial network system brought great wealth, but it wasn’t a fun job.

“Hoo… There are times when I’m envious of John.”

Just as he sighed deeply, Sera came out of the bathroom and asked.

“Charlie, should I give you a ride to the company?”

“When are you leaving?”

“In 15 minutes.”

Jeong Hyun-woo nodded and replied.

“Sometimes it’s good to go to work early.”

Then he turned off the computer and hurried to get ready for work.

* * *

“Victoria Corporation is not just a company that provides financial services. The recently released game, as well as the games released in the past, have been of good quality and have generated considerable sales.”

The person raising his voice was a consultant from an investment company.

Since the IPO [Initial Public Offering] of Victoria Corporation began, countless people flocked to investment and securities companies.

“If I put in $100 now, how many shares can I get?”

“You’ll probably get about one share.”

“Only one share?”

“The competition is fierce.”

Victoria Corporation’s market capitalization was determined to be $20 billion, the price per share was $10, and the total number of shares issued was 200 million.

JP Morgan executives smiled broadly at Victoria Corporation’s success.

“The fees alone will be considerable this quarter.”

“It’s all thanks to Victoria Corporation.”

However, Edmund Norman, who succeeded Arthur Morgan as the head of JP Morgan, did not look pleased.

This was because Victoria Corporation was Neil Hamilton’s achievement.

“Henri.”

At his call, Henri Arnault replied.

“Yes?”

“Wasn’t Victoria Corporation’s IPO already planned?”

“The exact date wasn’t set, but it was scheduled to happen within a few years.”

Edmund Norman sighed briefly.

“Hoo… It’s good to focus on Victoria Corporation’s IPO, but I hope you’ll pay attention to other areas as well.”

“The investment sector?”

“That’s right.”

Henri Arnault was the head of JP Morgan’s investment banking division.

“We are expanding investments, mainly in Japan.”

Edmund Norman frowned at his answer.

“Mainly in Japan?”

“The Japanese market has shown high returns since last year.”

One of the reasons Henri Arnault became interested in investing in Japan was Jeong Hyun-woo’s high investment returns. He invested in Japan, following in Jeong Hyun-woo’s footsteps, and so far, he had been making decent returns.

Edmund Norman said sternly.

“Henri, you will have to take responsibility for this investment.”

Henri Arnault straightened his shoulders and accepted his words.

“I will receive both the responsibility and the applause.”

If successful, he could take another step forward, but if he failed, he would have to resign immediately.

JP Morgan executives thought Henri Arnault had made a bad choice because of his pride.

‘Tsk, is he thinking of resigning over a Japanese investment?’

‘Both the predecessor, Neil, and now him, there must be something about the position of head of investment banking.’

‘This choice is Henri’s misstep.’

JP Morgan Chairman Edmund Norman thought the same.

“Good. If you achieve above the benchmark return, I will reward Henri’s investment with a bonus. But conversely, if there is a loss, Henri will have to take responsibility for it.”

Henri Arnault said in a soft voice.

“I think it’s natural for managers to be evaluated based on performance.”

“Good. Shall we end the meeting here today?”

JP Morgan executives nodded at Edmund Norman’s question.

“Let’s do that.”

“Let’s do that.”

After the meeting, John Pier quickly sought out Henri Arnault, the head of JP Morgan’s investment banking division.

“Mr. Arnault, this was too hasty.”

John Pier was one of the conservative investors. He became the general manager of JP Morgan’s funds as Henri Arnault rose to become the head of investment banking.

“Hasty?”

“Couldn’t we have just stayed put and achieved great results thanks to Victoria Corporation?”

As he said, the investment banking, securities, and fund divisions could have received high evaluations just by working at the same level as last year.

But Henri Arnault, while engaging in a war of nerves with the newly appointed head, Edmund Norman, gambled on Japanese investment.

“Don’t worry about the Japanese investment.”

John Pier spread out his hands and said.

“Japan is in a bubble right now. How can I not worry?”

He had been negatively viewing Japanese investment since Jeong Hyun-woo invested in it in the past.

Henri Arnault was calm.

“Isn’t Mr. Jeong investing?”

He would invest in Japan because Jeong Hyun-woo was investing.

John Pier’s eyes widened.

“What are you talking about?”

He thought it was nonsense.

“Mr. Jeong, you see, is a man with luck on his side.”

“Are you saying you’re going to ride on his luck?”

“It seems his luck will continue for the time being.”

Henri Arnault said he was relying on luck, but he trusted Jeong Hyun-woo’s investment sense.

‘He has a sharp eye to be underestimated because he is young.’

Victoria Corporation, led by Jeong Hyun-woo, was also achieving considerable results in investment and gaming, in addition to financial services. He thought all of this was due to Jeong Hyun-woo’s capabilities.

John Pier strained his neck.

“Mr. Arnault.”

Henri Arnault waved his right hand as he strained his neck and said.

“I used to question Mr. Jeong’s investment like you did in the past. But not anymore.”

“Aren’t you being blinded by Mr. Jeong’s performance?”

“Blinded, maybe. But now I want to go the same way as him.”

John Pier realized he couldn’t stop him.

‘Mr. Arnault is hopeless.’

He bowed his head and said.

“Understood. I’ll step down now.”

“John.”

“Yes, Mr. Arnault.”

“Contact Mr. Jeong.”

John Pier raised his head and raised his voice.

“Contact?”

“Shouldn’t we tell him the subscription results?”

Victoria Corporation’s subscription was until the end of business hours today.

Two hours later.

Jeong Hyun-woo received a call from John Pier.

“This is John Pier.”

“Ah, John. What’s going on?”

John Pier replied in a stiff voice.

“The subscription results are out.”

Jeong Hyun-woo tilted his head at his answer.

‘The subscription results are out, but his voice is stiff, which means the subscription on the last day was lower than expected?’

He asked cautiously.

“How is it?”

John Pier still replied in a stiff voice.

“$17.2 billion was raised for the 20 million shares offered.”

The investment that Victoria Corporation and JP Morgan wanted to raise was $2 billion.

Since $17.2 billion was raised, it meant that it was oversubscribed by $15.2 billion.

‘Victoria Corporation’s IPO can be said to be a huge success.’

Jeong Hyun-woo raised his voice slightly.

“That’s amazing.”

However, John Pier’s voice was still low.

“It seems the good performance on the first day continued until the end.”

Jeong Hyun-woo was bothered by his low voice.

“John, is there any problem?”

“No. There are no problems with Victoria Corporation’s IPO.”

Jeong Hyun-woo thought it might be John Pier’s personal situation.

‘If we were close, I would have asked more about the reason, but it’s better to stop here.’

He said in a soft voice.

“John, thank you for letting me know.”

“It’s nothing. It’s my job.”

Jeong Hyun-woo finished the call with John Pier and opened the door to the president’s office and went outside. Then he headed straight to Robert’s office. This was because Sera was on a business trip.

“Robert!”

Robert tilted his head as Jeong Hyun-woo entered with a bright expression.

“Charlie, did something happen?”

“It’s $17.2 billion!”

“Yes?”

“The investment that came in until the subscription closed.”

Robert raised his eyebrows and accepted his words.

“It’s a huge success!”

“Let’s buy them all!”

Jeong Hyun-woo wasn’t happy that he had become rich, but he was happy that he could buy the companies needed for the modularization project.