The Conglomerate Family Became A Villain [EN]: Chapter 238

238. Beyond the Cold War (1)

Not only IT professionals but also ordinary people rarely referred to Victoria Corporation by its full name.

Most shortened it to VC. The full name of Victoria Corporation was usually mentioned only in formal settings or meetings attended by Victoria Corporation executives and employees.

However, in Jeong Hyun-woo’s case, no one called it VC in his presence, so the abbreviation itself felt awkward.

“Why the long face?”

At Sera’s question, Jeong Hyun-woo sighed briefly.

“Sigh… I feel like I’m becoming isolated from society.”

“Because of VC?”

Jeong Hyun-woo first heard the abbreviation VC, referring to Victoria Corporation, at a shopping center with Sera.

He hadn’t realized it meant Victoria Corporation until he overheard people sitting in front of a game shop mentioning VC.

“I guess I’ve become a typical third-generation *chaebol* [family-owned conglomerate] who doesn’t understand the lives of ordinary people.”

“Are you saying you tried to be ordinary but ultimately couldn’t?”

Jeong Hyun-woo turned his head, raising his voice slightly.

“Isn’t that arrogant?”

“If it were anyone but Charlie, I would think so. But I can believe it if it’s you, Charlie.”

Sera and Jeong Hyun-woo were at the shopping center for the Thanksgiving holiday.

“It’s a shame we couldn’t attend the party if we had a little more time.”

Due to the work delays caused by Jeong Hyun-woo’s absence, they couldn’t attend the Thanksgiving party this year.

“Shouldn’t we focus more on the year-end party than the Thanksgiving party?”

“Does our company even have a year-end party?”

“Our company doesn’t, but several congressmen host parties.”

U.S. congressional fundraising events were concentrated at the end of the year.

Jeong Hyun-woo knew that the party Sera mentioned was a congressional fundraising event, and he clicked his tongue.

“More money going out.”

“Don’t you have dividends?”

Compared to manufacturing companies, Victoria Corporation’s dividends were small, but in Jeong Hyun-woo’s case, his stake was so large that he received a significant amount in dividends.

“You’re not donating under the company name but under my name?”

“Donating under the company name represents the company’s overall political direction.”

The advice was that it would be better to donate under the name of the CEO, Jeong Hyun-woo, in preparation for a change in government.

‘Sera’s advice is always right when it comes to politics.’

Perhaps because she resembled her father, Sera had an excellent sense of political balance.

“Okay. I’ll donate under my name.”

“Don’t forget about Japan either.”

“Yes, yes.”

Jeong Hyun-woo nodded, watching a boy walk by with balloons.

The two were shopping without bodyguards for the first time in a while, and Robert would have been furious if he knew, calling it a dangerous act.

“What happened with the Soviet Union?”

Jeong Hyun-woo frowned at Sera’s question.

“They want to discuss it in person.”

He had spoken with Congressman Jack Edinburgh to secure the rights to Tetris.

However, the result was not very good.

Even the influential Republican, Congressman Edinburgh, viewed the deal with the Soviet Union negatively.

“They didn’t reject it outright?”

Jeong Hyun-woo sighed again.

“Hoo… Not exactly, but the reaction wasn’t good when I brought it up.”

“How so?”

“It’s not like there’s McCarthyism like decades ago, but they said the Soviet Union is the Soviet Union.”

“Hmm, the Soviet Union is the Soviet Union.”

Sera thought that his words contained a lot of meaning.

‘It probably means it’s not the right time for a deal with the Soviet Union yet.’

She asked in a soft voice.

“Do you really need to secure the rights to that game?”

Jeong Hyun-woo answered firmly.

“I absolutely have to secure it.”

“Is it that important? It doesn’t seem like a great game to me.”

Jeong Hyun-woo said in a dry voice.

“Simple is best. Tetris looks very simple, but it has advantages that other games can’t match.”

Sera was skeptical of his answer.

“Hmm, is that so?”

“I’m planning to make a move in Washington.”

“What if it doesn’t work out?”

“I’ll have to wait.”

Sera realized that Jeong Hyun-woo had no intention of giving up on Tetris.

‘Charlie is the type to do what he sets his mind to.’

She thought that the Tetris negotiations might turn into a long-term battle.

“Being here today makes me understand why John’s expression wasn’t so bright.”

Jeong Hyun-woo tilted his head at Sera’s words.

“Are you talking about John River?”

Sera nodded in response.

“G Shop is our company’s store, but none of the titles featured prominently are developed by our company.”

Second half of 1986.

The game that swept the North American console market was Mario Brothers.

Jeong Hyun-woo thought it was natural to feature Mario and Nintendo games prominently.

But Sera and John River apparently didn’t think so.

‘Is it American pride?’

He shrugged and replied.

“G Shop’s front-page ads are determined by third-quarter sales.”

“That’s exactly what’s making John’s face gloomy.”

Victoria Corporation’s game division’s sales weren’t bad. But they weren’t exactly great either.

Moreover, there wasn’t a single game that could be called a mega-hit.

Jeong Hyun-woo crossed his arms and said.

“John and Robert are similar types if you look at them as game developers.”

“They’re similar types?”

“Yes, they generate stable sales but tend to avoid experimental projects that could become mega-hits.”

Sera listened to his words and nodded slowly.

“So, you’re saying they’re good at stable operations but weak at making big moves?”

“That’s right.”

“Are you going to replace them?”

Jeong Hyun-woo raised his eyebrows at Sera’s question.

“Replace John?”

“You’re saying you can’t hit a jackpot with John River.”

Jeong Hyun-woo shook his head at her answer.

“No.”

“That’s unexpected?”

“Unexpected?”

“Charlie always wants the best.”

Jeong Hyun-woo denied her words.

“I don’t always want the best. Right now, it’s Nintendo’s era, and we’re just following.”

He meant that he couldn’t expect the best in front of the absolute powerhouse that was Nintendo.

“Hmm. So, you’re avoiding it with John because the enemy is too strong? That’s not like Charlie.”

Jeong Hyun-woo turned his gaze to the opposite side at her words.

“I sometimes avoid things too.”

Of course, he could face them head-on without avoiding them. He had all the data of the games that hit until the 2020s in his head.

But Jeong Hyun-woo didn’t want to steal the ideas of geniuses without permission.

‘It feels like stealing.’

He didn’t think that using the future he knew was the same as packaging a genius’s legacy as his own talent.

“Hmph. You can fight the U.S. government, but you can’t fight Nintendo.”

“Is that how it is?”

“That’s how it looks from my perspective.”

Jeong Hyun-woo crossed his arms and said.

“Well, someday we’ll surpass Nintendo too.”

Nintendo achieved near-miraculous results in 1986, rushing towards becoming the world’s number one game company.

‘Maybe they’ll achieve the world’s number one spot sometime next year.’

Of course, even if they became the world’s number one game company, they couldn’t compare to Victoria Corporation.

Victoria Corporation was aiming for the number one spot in all fields, not just the game industry.

“Excuse me. Aren’t you Ms. Hilton?”

The person who cautiously asked the question was a college student with a backpack.

“Yes, that’s right.”

“I saw you on the news. I really respect you. Can I get your autograph?”

The conversation soon spread to the people around them.

“It’s Ms. Hilton.”

“Ms. Hilton?”

“It really is. It’s really Ms. Hilton.”

“Who’s next to her?”

“I think it’s Charlie Jeong.”

Jeong Hyun-woo and Sera were quite famous in Boston.

‘Oops, this is a problem.’

Jeong Hyun-woo thought he had to get out of here before more people gathered.

But the situation didn’t go as he thought. Soon, dozens of people surrounded them, and Sera and he could only breathe a sigh of relief after signing autographs for dozens of people.

“Haa… Even coming to the mall isn’t easy.”

Sera wiped the sweat from her forehead and echoed Jeong Hyun-woo’s words.

“This is why Robert told us to use bodyguards.”

In Boston, the popularity and attention the two received were comparable to Hollywood actors or singers.

“I’m a little jealous, you know?”

Sera turned her head and asked back.

“Jealous?”

“People recognized Sera before they recognized me.”

Sera chuckled.

“That’s because I appear on TV more often.”

The number of broadcasters covering her presentations increased every time she announced Victoria Corporation’s performance.

“Should I do it next time?”

“Really?”

“Just kidding.”

Thanks to the small autograph incident, Jeong Hyun-woo and Sera had to rush their shopping.

* * *

New York Stock Exchange after the Thanksgiving holiday.

The yen began to soar immediately after the opening.

Foreign exchange dealers frowned as they watched the situation board.

“I don’t know how far it’s going to go.”

“It’s already 42%.”

“It’s over 40% again, it’s unstoppable.”

“The mark is no joke either.”

The yen seemed to have restarted its runaway train.

“At this rate, the yen might rise to 50% by the end of the year.”

“What? 50%?”

Until now, no currency had ever risen in value by nearly 50% against the dollar in just one year.

“If it happens, it will be unprecedented.”

“What are you going to do if that happens?”

“What can we do? We just trade as instructed from above.”

Foreign exchange dealers tried to avoid responsibility.

But there were those who couldn’t avoid responsibility. They were the ones who belonged to the ‘above’ that the foreign exchange dealers mentioned.

Damon Furman, the leader of the yen short selling, had a pale complexion.

“We need to demand more strongly from Lehman Brothers.”

At his request, those seated shook their heads.

“We must respect their decisions.”

Damon Furman glared at everyone, raising his eyebrows.

“If that’s not possible, we need to investigate Bank of America’s accounts.”

Goldman Sachs’ chief dealer, Dan Morning, was indifferent to his claim.

“Damon, what authority do you have to investigate their accounts?”

“They are disrupting the market!”

Dan Morning was cold, even sharp.

“Cool your head and think about it. We, not them, are the ones who formed an alliance.”

Last summer, Wall Street banks, including Goldman Sachs and Morgan Stanley, formed an alliance and shorted the yen.

But their short selling only worked until early November.

When the Bank of Japan lowered interest rates and investors flocked to Japan, the yen began to soar.

In addition, Japanese companies posted good results despite the strong yen, further increasing the value of the yen.

“So, are we just going to take it like this?”

Damon Furman had bet his life on this project.

‘If I fail, I’m bankrupt.’

Even when he was kicked out of Terra, he didn’t go bankrupt, but this time was different.

If he made a mistake, he could end his life on the cold streets.

“Damon, there’s no way right now.”

“Dan!”

“Morgan Stanley has decided to withdraw.”

Damon Furman raised his eyebrows and raised his voice.

“Traitors!”

In his eyes, Morgan Stanley, which had withdrawn after losing hundreds of millions of dollars, looked like traitors.

“Damon, calm down.”

Those sitting on either side of Dan Morning advised him to calm down, but Damon Furman became even more agitated and exploded.

“How can I calm down in this situation?”

He had shorted Victoria Corporation, not the yen, but the situation was not much different from the yen.

Victoria Corporation’s stock price rose to $43, and its market capitalization reached a whopping $86 billion.

This was second place based on the New York Stock Exchange, and now only IBM existed above Victoria Corporation.

“Damon, we’re already losing billions of dollars.”

Compared to the losses Goldman Sachs had suffered, Damon Furman’s losses were negligible.

“So, shouldn’t we move even more?”

Goldman Sachs’ chief dealer, Dan Morning, raised his voice.

“How do you mean move?”

Damon Furman raised his voice, veins popping out of his neck.

“So, investigate Bank of America’s accounts…”

Dan Morning cut him off.

“Are you suggesting we indict them with the prosecution?”

Damon Furman nodded at his question.

“We have to if we can!”

Dan Morning frowned at his cry.

“Damon, the world isn’t a movie. No one can control Wall Street and the foreign exchange market at will.”

“Dan! Are you going to end it like this then?”

Dan Morning stood up and replied.

“Damon, let’s end our meeting here.”

Did he mean that Goldman Sachs would also withdraw like Morgan Stanley?

“Dan! You!”

It was when Damon Furman raised his voice.

Dan Morning said coldly.

“I’m going to submit my resignation when I return to headquarters. So, I won’t be meeting you anymore.”

He was not the architect who designed this project. Nevertheless, he thought he could not avoid responsibility because he had agreed to Damon Furman’s proposal.

‘The biggest loss since the oil shock.’

Goldman Sachs had weathered the high-interest rate era well. However, by misinterpreting the Plaza Accord [agreement among major economies to depreciate the U.S. dollar], they suffered billions of dollars in losses.

Dan Morning stood up and said.

“Mr. Furman, let me give you a piece of advice.”

Damon Furman raised his eyebrows and asked.

“What advice?”

“There’s talk that Lehman Brothers might invest in Japan.”

If Lehman Brothers jumped into investing in Japan, the value of the yen would inevitably rise further.

“Traitors!”

To him, everyone who opposed his intentions was a traitor.

Dan Morning left the conference room and advised him.

“Mr. Furman, I hope you get out before it’s too late.”

Damon Furman clenched his fists.

‘There’s no room to escape now!’

If Victoria Corporation’s stock price rose just 80 cents more, he would be bankrupt.

Two days later.

Victoria Corporation’s stock price hit $44.98.

As a result, Damon Furman, who had shorted Victoria Corporation, went bankrupt.

He had nothing left.

“Hehehe.”

Damon Furman was walking down Wall Street like a crazy person.

Thud.

The person who collided with him frowned and said.

“Hey! Watch where you’re going.”

Damon Furman looked at him with unfocused eyes and raised his voice.

“Did you betray me too?”

The other person realized that Damon Furman’s focus and tone were off and took a step back.

“Ugh, he’s on drugs!”

Meeting drug addicts was not uncommon in the United States. He quickly took two more steps back, and Damon Furman laughed madly.

“Hahahahahahaha!”

People stepped back, keeping their distance from his wild laughter.

“He’s crazy.”

“That’s not crazy, that’s drugs.”

“I don’t know what the police are doing.”

“New York’s security is terrible these days.”

“To see such a sight on Wall Street.”

While people were clicking their tongues, the police appeared.

“There he is!”

“Be careful, he might have a weapon.”

Damon Furman sneered as the police approached.

“Step back!”

The police frowned at his warning.

“The suspect must drop his weapon and surrender!”

“Immediately put both hands above your head and lie on the ground!”

Damon Furman burst out laughing at the word suspect.

“Hahahaha! A suspect? Who? Me?”

The police thought he was out of his mind because of drugs.

“Damn it. Looks like heroin.”

“Fucking heroin.”

“What should we do?”

“It doesn’t look like he has a weapon in his hand right now.”

The police exchanged signals with their eyes and immediately subdued Damon Furman.

It was the downfall of a genius who was once a powerhouse at the hedge fund Terra, manipulating billions of dollars.