The Conglomerate Family Became A Villain [EN]: Chapter 32

Became a Billionaire Villain – Kneeling Giant 01 –

– Kneeling Giant –

“Do you think this makes any sense?”

The owner of the sharp voice was Jung In-hae, the eldest daughter of the Daewoon Group [a large South Korean conglomerate, similar to Samsung or Hyundai]. She continued to shout.

The face of Executive Director Jung Min-seok, who was sitting in front of her, was also not good.

‘I thought he’d go to some no-name college since he said he was going to college in America.’

MIT? It was unbelievable.

“Say something!”

At Jung In-hae’s cry, Executive Director Jung Min-seok opened his mouth.

“I’m just as taken aback.”

“You must know something, right?”

Executive Director Jung Min-seok was an alumnus of a foreign university, so he knew very well how difficult it was to get into MIT [Massachusetts Institute of Technology, a prestigious science and technology university in the US].

‘Not Yale or Harvard, but MIT.’

It was right to assume that he was admitted based on his skills, not donations.

‘To think he was hiding that kind of skill.’

Perhaps Jung Hyun-woo used it to study drugs.

‘If so, it makes some sense.’

However, Jung Hyun-woo had recently caused a violent incident in addition to drugs.

“I don’t know anything about it either.”

“What about Chief Hong?”

Chief of Staff Hong Won-ik.

Jung In-hae thought he was the culprit in this matter.

“Chief Hong wouldn’t be able to reach MIT.”

“There are donations.”

“MIT is different. You know better than I do since you sent your children to study abroad.”

Jung In-hae raised her eyebrows.

“So, Hyun-woo really took the exam and got into MIT?”

“It seems so.”

“No way!”

It wouldn’t make sense even if he got into SKY [the top three universities in South Korea: Seoul National University, Korea University, and Yonsei University] in Korea, but he took the exam in the United States and got into MIT.

“It could be a misreport. Maybe he got into a university with a similar name…”

It was possible that Chief Hong Won-ik mistook it for admission to a university with a similar name, not MIT.

‘But would that Chief Hong make such a mistake?’

He put his hands together.

“I’ll look into it further.”

Jung In-hae raised her voice at his words.

“Not a little more, but you have to find out for sure!”

“Sister.”

“If Hyun-woo really got into MIT, the succession structure could be completely twisted!”

If Jung Hyun-woo was accepted into MIT as rumored, he would be the most advanced among the third generation of Daewoon Group.

“Are you saying that I might not inherit the Daewoon Group chairman position?”

“If things continue like this, even if you become the chairman, you may have to give up a portion to Hyun-woo.”

You may not inherit the entire Daewoon Group.

Executive Director Jung Min-seok narrowed his brows at Jung In-hae’s words.

‘That would be troublesome.’

The Daewoon Group had to be entirely his.

“I understand. I’ll find out for sure.”

It was when he put his hands together.

Jung In-hae turned her body and said.

“Isn’t this Min-young’s doing?”

Manager Jung Min-young.

Jung Min-seok’s younger sibling and the youngest son of Chairman Jung Woo-sun.

He hadn’t shown anything yet, so it was hard to say anything, but he certainly had inheritance rights to the Daewoon Group.

“Min-young wouldn’t have that kind of power.”

“Are you sure?”

“Chairman Wang of the Daehyun Group couldn’t send his grandchildren to MIT either.”

Manager Jung Min-young could not have done what Daehyun Group, the largest company in Korea, could not do.

“That’s what I’m saying. How could Hyun-woo have done such a difficult thing!”

“Sister.”

“I can’t believe it!”

Executive Director Jung Min-seok sighed deeply.

“Hoo… I don’t want to believe it either.”

“Our kids barely made it to state universities!”

Executive Director Jung Min-seok realized why Jung In-hae was acting up.

‘She’s jealous that he went to a better university than her own children.’

Currently in 1982.

It was really difficult to get into a prestigious American university in Korea.

“Maybe they mistook it for the University of Massachusetts, not MIT.”

MIT was the Massachusetts Institute of Technology, and the University of Massachusetts was literally the state university of Massachusetts.

It was overshadowed by MIT, but admission to this school was not easy either.

“That’s right, how else could Hyun-woo get into that school that only geniuses attend.”

Jung In-hae seemed to like Executive Director Jung Min-seok’s story.

“I’ll check it out myself and contact you again.”

Executive Director Jung Min-seok got up from his seat and headed to Y University. He wanted to confirm Jung Hyun-woo’s admission to MIT through an acquaintance there.

***

Early December 1982.

America was in the grip of Michael Jackson fever. Americans were enthusiastic about his new album, Thriller.

“Amazing.”

Jung Hyun-woo was deeply moved by the fact that he was witnessing the emergence of a legend in real-time.

On the other hand, Sarah was calm.

“It’s not my taste.”

Her taste was old-fashioned in a bad way, and simple in a good way.

“Shall we go see a concert or something?”

“Michael?”

“Yes.”

“What about work?”

As soon as the MIT admission process was over, Jung Hyun-woo immediately started developing Zero Space 3.

He was planning to finish the development of Zero Space 3 this winter.

‘I have to complete the Zero series before the Atari shock [the video game industry crash of 1983].’

He set a combined sales target of 5 million cartridges for Zero Series 1, 2, and 3.

The target of 5 million was not absurd. Currently, the cumulative sales of the Zero series were 3.1 million.

If the third series was successful, the sales of 1 and 2 would increase, reaching 5 million.

‘Of course, if Zero Space 3 fails, it will be an impossible story.’

If he could sell 5 million cartridges, the royalties he would receive from Activision alone would amount to $25 million.

$25 million was a large sum of money that could buy a decent company in the United States.

Converted to Korean won, it was roughly 90 billion won.

It was an astronomical amount that could buy not just one, but several buildings with dozens of floors in Jongno [a major business district in Seoul].

Of course, Jung Hyun-woo would not get all of this money.

Due to taxes, Jung Hyun-woo’s share was about $13 million.

And he wanted to invest most of this money in Victoria Corporation.

“Can’t you take a day off?”

“A day? Do you want to see it that much?”

“It’s Michael Jackson.”

Michael Jackson was explosively popular with teenagers, including Jung Hyun-woo.

“If Charlie wants it that much, I’ll think about it.”

“Thank you.”

“Come to think of it, it doesn’t matter if you go with Tom, does it?”

Choi Kyung-min was still working as his secretary.

“Tom is going back soon.”

“Has it already been that long?”

“Sarah, it’s December.”

Choi Kyung-min was scheduled to leave the United States before Christmas. There wasn’t much time left for the two of them to be together.

“Has the next person to come after Tom been decided?”

“No.”

“Who will come?”

Jung Hyun-woo shrugged.

“Maybe no one will come.”

“Charlie, are you being hated by the family?”

Sarah thought that someone from the Jung family was trying to harm Jung Hyun-woo.

“No. MIT is a dormitory. So, there’s no need for a butler or secretary.”

“You don’t have to stay in the dormitory at MIT.”

“I’m going to stay in the dormitory until I find a proper office building.”

Jung Hyun-woo was planning to buy a building for Victoria Corporation in Boston if Zero Space 3 was successful or if he profited from the Atari shock.

“A proper office building…”

“I hope it’s close to MIT.”

He was talking about buying a building near MIT.

“It’s a bit far from here.”

The place where the two of them lived now was too far to walk or bike to MIT.

“I’ll buy you a car.”

Sarah rented a Mustang in San Francisco, but she always used public transportation in Boston.

“I have money too.”

“Can’t you think of it as a welfare benefit from Victoria Corporation?”

“Charlie is emotional.”

It was when Jung Hyun-woo shrugged.

Ring. Ring.

The phone rang.

Sarah quickly reached out and answered the phone.

“Hello?”

As soon as she heard something, her eyes widened. Then she kept saying she understood.

Jung Hyun-woo wondered what kind of call it was.

‘Is it a call from school?’

Not his school, but her school.

He thought there was a high possibility that it was a call from Boston University.

Click.

Sarah hung up the phone and turned her gaze to Jung Hyun-woo.

“Charlie!”

“Why?”

“The bubble has burst!”

The bubble burst.

Jung Hyun-woo didn’t understand what she meant for a moment. About 3 seconds later…

He raised both hands in the air.

“Hooray!”

The bubble he had been waiting for had burst.

“It’s a call saying that Warner Group’s stock is plummeting.”

The person who called was Peter Lynch. He reported that Warner Group’s stock price was plummeting due to Atari’s poor performance, and other game industry stocks were also plummeting together. He advised that if you had money invested in the game industry, don’t hold on and withdraw it immediately.

‘The Atari shock has hit!’

The Atari shock led the American game industry to a cliff.

‘It was going to burst before the end of 1982.’

Jung Hyun-woo lowered his hands, which he had raised high, and sighed deeply.

“Hoo…”

Sarah tilted her head when he sighed deeply.

“Why? What’s wrong?”

It was the Atari shock he had been waiting for. She didn’t think there was any reason to sigh deeply.

Jung Hyun-woo slowly shook his head and replied.

“The bubble bursting means that many people will become unemployed. That means that the people who made and distributed games together will lose their jobs, so I can’t just be happy.”

Sarah listened to his words and blamed herself for being careless.

‘Even Charlie, who is a teenager, thinks like that, but I got too excited.’

She also lowered her voice.

“That’s right, Charlie. Many people will leave their jobs and find other jobs. Still, not all industries are in a slump, so it won’t be the worst.”

Not all industries were in a slump together, like the Great Depression or the oil shock.

If they left the game industry, they could continue their lives. Of course, people who invested a lot of money in the game industry could have their lives completely ruined.

“Come to think of it, what are you going to do with Zero Space 3?”

Jung Hyun-woo answered immediately without hesitation.

“I have to make it.”

“In this situation?”

“The bubble has nothing to do with Zero Space 3.”

Jung Hyun-woo thought that Zero Space 3 was necessary to complete the Zero Space series.

‘Maybe this will be the last game.’

If the game industry completely collapses, he may not be able to release games for the time being.

‘Activision may not be able to withstand it.’

If Activision collapses, the Zero Space series would also be over.

Ring. Ring.

The phone rang again.

“Sarah.”

“I think it’s Peter.”

Sarah answered the phone again.

“This is Sarah.”

– Are you Sarah Hilton?”

It wasn’t Peter Lynch.

Sarah changed her voice and replied.

“Yes, this is Sarah.”

– This is JP Securities.”

“Ah!”

It was when Sarah let out a short groan. The JP Securities employee continued.

– You asked us to call you if Warner Group’s stock price plummeted. Today, Warner Group’s stock price is plummeting. It is recording -22% in one day.”

The amount shorted in the name of Victoria Corporation was 10 times the margin, so at -22%, the return was 220%.

In other words, Victoria Corporation’s profit today was $11 million.

‘An unbelievable amount.’

The JP Securities employee continued to speak.

– Do you have any plans to buy back the shares?”

Sarah answered firmly.

“No. I have no intention of buying back the shorted shares yet.”

Repurchase meant buying back the shorted shares and paying them back.

– I understand. Then I’ll contact you again next time.”

Currently in 1982, there was no internet or smartphones, so securities companies would inform major customers who had deposited large amounts of deposits of stock information by phone.

“I wish there was a system where you could see the stock market situation right away at home instead of on the phone.”

Sarah received Jung Hyun-woo’s words.

“You can find out the stock market situation by subscribing to cable TV.”

You could find out the stock market situation by watching stock or economic channels on cable TV. However, you had to wait several minutes to tens of minutes for the stock code you owned to appear.

“No. I mean something that allows you to know the current stock price of the desired stock directly on your computer.”

Sarah paused at his words.

“Maybe with PC communication?”

In 1982, PC communication using telephone lines and modems was very slow, regardless of the country. However, the stock market situation did not require fancy graphics.

‘It’s enough to just display numbers.’

He thought it was a system worth trying.

“Shall we make it at MIT?”

“You mean a program that allows you to know the stock market situation at home?”

“Wouldn’t there be quite a bit of demand?”

Sarah’s senses became sharp again.

“Let’s make it at Victoria, not MIT.”

She didn’t think it was necessary to share the profits made from this system with MIT.

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