The Conglomerate Family Became A Villain [EN]: Chapter 38

38. Became a Villain in a Conglomerate Family – Las Vegas 03 –

***

“Wasn’t it all over?”

Sarah clicked her tongue, watching Jung Hyun-woo attend CES [Consumer Electronics Show] every single day without fail.

‘You could take a day off at the hotel.’

The deal with Louis Nolan was simple, but she showed passion by preparing materials late into the night at the hotel for several days, not knowing what data might be needed for the deal.

As a result, after the deal was over, she became limp like a deflated balloon.

“Sarah can rest.”

“How can I rest when Charlie is here?”

The thread follows the needle [meaning where one goes, the other follows; she’ll go where he goes].

“I’m thinking of touring our country’s booths today.”

“Our country, you mean Korea?”

“Yes.”

South Korea aimed to move from light industry and heavy chemical industry in the 1980s to high-tech industries.

Sarah’s eyes sparkled at his answer.

“Then I should go with you even more.”

Sarah thought she needed to know what kind of country South Korea was.

‘Because it’s Charlie’s country.’

If necessary, Victoria Corporation might have to establish a branch in South Korea.

“That’s the Daehyun Electronics booth over there.”

Daehyun Electronics.

As an affiliate of Daehyun Group, its initial products were microwave ovens and electric rice cookers.

In the 1980s, it was expanding its field to white goods such as electric fans and washing machines.

The products exhibited at CES were also white goods [large household appliances].

“Hello!”

When Jung Hyun-woo raised his voice, the Korean employees at the Daehyun Electronics booth greeted him with bright expressions.

“Hello? What products are you here to see?”

“All of them.”

Jung Hyun-woo turned his head this way and that, examining the Daehyun Electronics booth.

He nodded, looking at the washing machines, vacuum cleaners, and microwave ovens that emphasized efficiency.

‘In the early to mid-1980s, our country’s electronics industry was at this level.’

Sarah followed him like a shadow.

The Daehyun Electronics employees stared curiously at the blonde beauty in a high-end suit standing behind him.

“Is she his older sister?”

“They don’t look alike enough to be siblings.”

“It could be a remarried family [step-sibling situation].”

“Could be?”

Jung Hyun-woo carefully examined Daehyun Electronics products. Sarah tilted her head, watching him.

“Charlie was interested in this too?”

It wasn’t too strange for a software developer to be interested in electronic products.

“He wasn’t before, but he’s been interested recently.”

“Really?”

Recently.

To be exact, it was after receiving the fax sent by Chief Hong Won-ik.

‘He owns 100,000 shares of Daewoon Electronics over there.’

After examining all the Daehyun Electronics products, he went to a nearby employee and asked.

“Is there a Daewoon Electronics booth?”

The Daehyun Electronics employee wearing a blue skirt smiled.

“You mean Daewoon Electronics?”

“Yes.”

“Are you living in America?”

“I’m an international student.”

The employee nodded and replied.

“Daewoon Electronics doesn’t have any products to show at CES yet. They are focused on OEM [Original Equipment Manufacturer] production.”

They don’t have the technology to create their own models. In other words, it meant they were at a lower level than Daehyun Electronics.

‘Daewoon Electronics was at that level?’

In his past life.

Daewoon Electronics had already disappeared by the time he came to his senses. So, he didn’t have detailed memories of Daewoon Electronics.

“Will they be able to come next year?”

“Well.”

The uncertainty meant that Daewoon Electronics’ position was that low.

“I understand.”

“It seems like you’re supporting Daewoon Electronics.”

“My father used to work for Daewoon Group.”

Was it because it was in the past tense?

The Daehyun Electronics employee didn’t care much.

“I see.”

Jung Hyun-woo bowed slightly and left the Daehyun Electronics booth.

“You were talking to the employee for a long time at the end. What was it about?”

Sarah couldn’t understand at all because the two were talking in Korean.

“I asked about my family.”

“Charlie’s family?”

“Yes.”

Sarah tilted her head as if she didn’t know at all.

“Were they relatives?”

“No.”

“Then someone who lived in the same neighborhood?”

Jung Hyun-woo moved towards the Samjung Group booth and replied.

“My father’s company also made electronic products.”

Sarah clapped her hands lightly at his answer.

“Ah, then you should have said company instead of family.”

She thought the Jung family was engaged in manufacturing electronic products.

But that was not the case at all. Daewoon Group’s main businesses were food and construction.

“That’s Samjung Group over there.”

Samjung Group had recently become known little by little in the United States.

“Is it a brand that represents Korea?”

“Yes, you could say it’s one of the two pillars along with Daehyun Group.”

The Samjung Group booth was larger than the Daehyun Group booth. And the location was also close to the central stage.

“They got a good spot.”

“It’s Samjung Electronics.”

Jung Hyun-woo knew. That before long, Samjung Electronics would dominate the famous American home appliance companies.

‘Should I buy Samjung Electronics stock?’

He could do it now.

If he invested Victoria Corporation’s $30 million in Samjung Electronics, he could secure more than 5% of the shares.

‘In the 2020s, Samjung Electronics’ market capitalization will grow to nearly 500 trillion won [approximately $400 billion USD].’

5% of 500 trillion is 25 trillion [approximately $20 billion USD].

At the exchange rate in the 2020s, that’s about $20 billion.

‘A $20 billion billionaire.’

He could be the richest man in Korea and rank among the top in the United States.

But he didn’t feel like it.

‘Not Samjung Electronics, but Daewoon Group.’

It felt like he was abandoning Daewoon Group and choosing Samjung Group.

‘It’s not as good as growing Daewoon Electronics.’

Sarah tilted her head as he let out a long sigh.

“Is something wrong?”

“No.”

“Then?”

“Samjung Electronics is too big compared to my family’s company.”

Sarah thought Jung Hyun-woo was disappointed that Samjung Electronics was bigger than his father’s company.

“There’s no need to be so disappointed. Victoria Corporation is doing very well.”

If Victoria Corporation was raised well, it could be as good as JP Morgan, not Samjung Electronics.

‘I will definitely make it that way.’

Sarah’s ambition was now aimed at Wall Street.

***

On the way back to the hotel after the CES tour.

Sarah was behind the wheel again.

“Amazing.”

Jung Hyun-woo’s words contained various emotions.

“You mean Samjung Electronics?”

“Yes, it was unexpected.”

“In what way?”

“It’s not just a company that makes home appliances.”

Sarah nodded as if she had remembered something.

“You mean semiconductors?”

As of 1983, Korea was still a country with a vague impression on Americans.

Moreover, many people remembered the time when it was a backward country like her father.

The fact that such a country was trying to develop semiconductors, the culmination of cutting-edge science and technology, was impressive to Sarah as well.

“The finished product will be out soon.”

“Soon?”

“Samjung Electronics is a company that does what it says.”

Sarah couldn’t help but tilt her head.

“Is it that great of a company?”

The home appliance companies that Americans thought of were companies like General Electric or Whirlpool.

“Yes, it’s that great of a company.”

Two years ago, Samjung Electronics’ status was not the same as it is now. In the magazines he read, Samjung Electronics was treated as a company that made cheap fans and microwave ovens.

‘Has it changed this much in just two years?’

Jung Hyun-woo didn’t know, but Samjung Electronics was about to make the Tokyo Declaration [a commitment to invest heavily in semiconductors].

February 1983, Tokyo.

Chairman Shin Byung-chul declared that the Samjung Group would focus all its efforts on fostering and investing in the semiconductor industry, saying that they could only survive if they kept running without stopping.

As a result, in May 1983, they began developing the famous 64k DRAM [64-kilobit Dynamic Random-Access Memory].

And in just six months, in November, they became the third in the world to complete the development of DRAM.

Looking only at the Tokyo Declaration and the results, it seemed to flow smoothly, but the reality was not the case.

As soon as Chairman Shin Byung-chul made the Tokyo Declaration, criticisms poured in, saying that a developing country was making semiconductors.

‘They even said that if they had money to invest in semiconductors, they should invest in the shoe industry.’

The shoes produced in Korea were of excellent quality and were exported all over the world.

The problem was that most of the exported shoes were OEM products, not their own brands.

‘Should I turn my attention to the semiconductor side as well?’

He decided to stick to one well this life, but it didn’t seem to be working out as he wanted.

“What company comes to mind when you think of semiconductors in the United States?”

“Doesn’t Charlie know better than me?”

“I just wanted to hear Sarah’s thoughts.”

Sarah stopped at a traffic light and replied.

“It would be Intel or Micron.”

At this time, AMD felt like an OEM company of Intel, and Nvidia had not even been established.

‘So, it’s Intel and Micron?’

Intel was too famous, and Micron had been producing the 64k DRAM that Samjung Electronics would develop at the end of this year since 1981.

“But Charlie, there was one strange thing at this CES.”

Jung Hyun-woo tilted his head at her words.

“Strange thing?”

He thought that Sarah might have seen something he hadn’t seen.

“I mean Charlie.”

“You mean me?”

“Why didn’t you go to the Japanese company booths even once?”

This was not something he did consciously.

“Did I do that?”

“You did.”

January 1983.

Japanese home appliances were sweeping the United States. Sony’s Walkman dominated the portable cassette market, and VHS shook the video market.

The same was true for devices such as TVs and audio. It was an overwhelming advantage for Japanese companies.

Even in the semiconductor sector, which Jung Hyun-woo was interested in, Japanese companies were showing prominence.

Japan was the second in the world to produce 64k DRAM.

“That’s strange.”

“I thought you would go today.”

The reason why Jung Hyun-woo didn’t visit the Japanese company booths was because he knew about their downfall.

‘The Plaza Accord [an agreement to depreciate the U.S. dollar] will be reached soon.’

Of course, the Japanese electronics industry remained strong even after the Plaza Accord. They began to collapse in the late 1990s as mobile phones became popular.

“It’s the last day today, so I can’t go again.”

Sarah paid attention to Japanese companies because they were at their peak, but also because Jung Hyun-woo had said he would invest in Japan.

“I thought Charlie was very interested in Japan.”

“I guess so.”

“Charlie, are you having an out-of-body experience?”

Jung Hyun-woo had nothing to say.

‘I didn’t know I would act so blatantly.’

He let out a long sigh.

“Hoo······. Sarah, no one would believe it if I said this, right?”

“How?”

“The Japanese home appliance industry is collapsing.”

The Japanese home appliance industry was dominating the world right now.

“Hmm, that’s like saying GM and Ford are going bankrupt.”

Jung Hyun-woo paused at her words.

‘That will actually happen in 20 years.’

In other words, even if something seems impossible at this point, it could very well happen in 20 years.

“Shall we short Japan [bet against the Japanese market]?”

Vroom.

Sarah stepped on the accelerator roughly and raised her voice.

“No way!”

She allowed shorting the game industry, but she couldn’t allow shorting Japan.

“I’m just kidding.”

“If you short Japan now, you’ll regret it for 10 years.”

The Plaza Accord hadn’t even started yet.

‘Japan will go on a rampage after the Plaza Accord.’

The Plaza Accord was a treaty signed under pressure from the United States, but at the same time, it was not the collapse of Japan.

“I’m really kidding.”

“Everything Charlie says sounds real.”

Jung Hyun-woo shrugged.

“I apologize if I made you uneasy.”

“It’s not something that requires an apology. But you know.”

“Do you have anything else to say?”

Sarah turned the steering wheel and replied.

“Didn’t you say you were going to show Nolan the demo version?”

Jung Hyun-woo had even set up a system in the hotel to show the demo version of the stock live system.

However, Louis Nolan just left, saying he didn’t have time.

“Sarah was there too.”

He couldn’t catch someone who was leaving, saying he didn’t have time.

“But you could have asked him to take some time.”

“I didn’t think it was necessary anymore at the point when the deal was made.”

Sarah headed to the hotel parking lot and asked.

“But are you really okay with it?”

Rejecting $10 million and receiving a monthly usage fee.

If you only think about the next 1 or 2 years, this condition was overwhelmingly unfavorable.

“I don’t think it’s a business that will only last for 1 or 2 years.”

Jung Hyun-woo was planning to push this until the IT bubble burst.

‘If I do well, I can start a big business by 2000.’

In addition, the financial system he wants to build is one of the paths to the future.

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