God of Corporate Hunting - Chapter 247



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◈ Episode 247 Major League (1)

Before meeting Chairman Choi Yong-mook, Nam Woon-myeong flew to Silicon Valley alone.

The destination is Vectorfly, which is developing eVTOL.

The prototype VF-3 has been developed and has completed test flights. It is now time to move on to mass production.

A large amount of capital is needed to set up a production line for mass production. Also, since it is a new product, demand must be created.

With these two goals in mind, Nam Yun-myeong called Saudi Arabia’s McClain to Silicon Valley.

The place we took McClain to was, of course, Vectorfly.

“wow!”

McClain exclaimed in awe after seeing the VF-3 developed by Vectorfly with his own eyes. It was not particularly surprising, as it was the reaction of someone who had seen a futuristic flying machine for the first time.

“Is that thing flying?”

“It’s a scene from a movie.”

“Can I get off?”

“Of course. Would you like to try it?”

Nam Woon-myung conveyed McClain’s feelings to Ron, the CEO of Vectorfly, as he nodded vigorously.

McClain was riding in a white cable car-like body, with Nam Woon-myeong riding alongside him.

There’s no reason to turn it down when you can get the feeling of going to an amusement park for free.

VF-3 rose with four people on board, including the pilot and Ron.

“It is much more stable than before. It is also equipped with the Daehanmirae Research Institute’s automatic navigation system. Development is practically complete.”

Ron explained confidently.

The VF-3 circled across the blue sky. The view from the sky made them forget the stress of everyday life. The white clouds floating in the blue sky greeted them.

The VF-3 is scheduled to enter mass production by the recently acquired Chinese company, Zhonghua Automatic Machinery. It is a bankrupt company near Zhonghua Chemical Technology, which was acquired for the purpose of hydrogen technology development, and was purchased by Bae Joo-hyun.

We plan to make a large investment in this Chinese automatic machine to mass-produce the VF-3.

We have to sell the VF-3, so we have no choice but to involve Saudi Arabia. That’s why we called McClain here.

The VF-3 flew for much longer than before. It was a free flight, not a performance test, so the pilots operated it as McClain requested.

“10 years from now, eVTOLs will be installed in most cities around the world. Shouldn’t Saudi Arabia also establish an eVTOL transportation system?”

“Yeah, that’s right.”

“It has to be connected to Neom City and also to the capital, Riyadh, and King Khalid International Airport.”

“Yeah, that’s right.”

McClain, who was having fun with the VF-3, answered as if he was out of his mind.

“King Khalid International Airport is 35km from Riyadh. It’s the perfect distance to build an eVTOL operation system. An international airport is the gateway to the country. When you get off the plane and exit the terminal, an eVTOL picks you up and takes you into the city. Doesn’t that sound like a good picture?”

“We need to establish a transportation system that uses this plane to travel back and forth between the airport and the city center.”

“That’s not all. In the future, the VF-3 fuselage will be produced by a Chinese company. It will soon enter mass production. What if the Saudi sovereign wealth fund invests? It will be produced in China, but in reality, it will use the VF-3 made with Saudi capital. This is the domestic production in the global era.”

Nam Yun-myeong used all kinds of empty words to dazzle McClain.

In fact, the production line can be set up without Saudi investment, but this is to induce active purchase of VF-3.

“Who are the other investors?”

“In addition to China, we are planning to include Korea Asset Management Consortium, Daehan Shipbuilding Group, CSK, and Saudi PIF.”

It is not easy for McClain to oppose this investment in the cutting-edge future industry. In particular, the fact that CSK, an investment bank with global influence, and Daehan Shipbuilding Group, which is familiar with Saudi Arabia, are investing means that it is competitive.

“The investment is $1 billion each. And once this investment is completed and mass production begins, we will immediately apply for an IPO on NASDAQ. The expected corporate value is $50 billion. The funds raised through the IPO will be approximately $10 billion. What do you think?”

Of course I wouldn’t hate it.

Even if the VF-3 mass-producing Chunghwa Automatic Machine is listed, the majority of the profits will be reaped by Korea Asset Management and Mega Asset Management, since they own Vectorfly, which holds the original technology for eVTOL.

“This investment is a proposal to repay the favor of your help in the last Credit Suisse acquisition. This investment will help you restore the trust of the Saudi government. Also, if you wish, we will try to help CSK participate in the Vertiport investment to build a transportation system between Riyadh and the airport.”

Building infrastructure to introduce eVTOLs into urban areas requires greater investment than developing and producing eVTOLs. This is what CSK and the Saudi sovereign wealth fund are proposing to do together.

The claim of being the world’s first eVTOL is huge. Saudi Arabia, with its deep pockets, especially with its recent efforts to build the future world through Neom City, is unlikely to miss out on this.

“Okay, I’ll make the suggestion right away.”

McClain clenched his fists and showed his determination.

Nam Woon-myeong recalled the relationship between the Saudi power broker and McClain, who was sitting in the middle at that time. This was a golden opportunity for McClain, who had fallen into the abyss due to the failure of Credit Suisse’s investment, to recover.

McClain would also not be unaware of Nam Woon-myung’s kindness.

Nam Yun-myeong was drawing a big picture in this business.

If things go as planned, the investment in Zhonghua Automatic Machine will bring enormous profits. In addition, this IPO will solidify Yun Se-bin’s position in CSK and build trust with Middle Eastern countries.

McClain asked again, enjoying the feeling of flying through the sky.

“But aren’t other cities introducing the VF-3? Is it only Saudi Arabia that is introducing it?”

“We have practically decided to introduce it in LA. We will get approval soon and start building the Vertiport.”

This is the result of the hard work of Mac, CEO of Vectorfly.

Once the VF-3 is flying in Los Angeles, USA and Riyadh, Saudi Arabia, it will then spread to every city in the world.

McClain gave a thumbs up, thanking Nam Woon-myung for helping him build his position.

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After flying in the sky for a long time, VF-3 landed again.

“This is awesome. I thought I was at an amusement park.”

McClain said.

“Everyone who has ridden once will ride the VF-3 again, even for fun. It will probably become a landmark in the city. There is no rush hour in eVTOL transportation. It is the best transportation system at the moment.”

McClain agreed with Nam Woon-myung’s explanation.

“I will suggest this to the Saudi government. It will probably be implemented immediately.”

In Saudi Arabia, a de facto dictatorship, decisions are made quickly. When the highest authority gives orders, they are easily carried out. In LA, on the other hand, it took years to introduce an eVTOL system. Here, Vectorfly won the final selection of aircraft.

With this, Vectorfly investment has been on a smooth path. The decisive move of acquiring the initial capital invested in Vectorfly has returned with greater profits.

Suddenly, Brian Paul of Advanced Capital came to mind.

I had recovered my investment in Vectorfly and moved to Petanos. But Petanos completely failed, so I lost all my investment and went bankrupt.

Nam Yun-myeong expressed his deepest condolences to Brian Paul and his investors.

He caught McClain, brimming with confidence, about to make a phone call.

“wait a minute.”

Nam Yun-myeong looked into the other person’s fortune.

McClain’s luck wasn’t so good. He doesn’t get over it easily.

* * *

When we regrouped at Vectorfly the next day, McClain was sighing repeatedly.

“Director Nam, it’s not as easy as I thought. He just said he’d look into it. In the past, whenever I suggested something, it would be approved right away…….”

I had expected that the failure of Credit Suisse’s investment a long time ago would be recovered with this investment in CSK, but it seems that is not necessarily the case.

“You said you would review it?”

“That’s on hold, but there are hundreds of investments on hold in Saudi PIF alone. In reality, it’s difficult.”

Nam Woon-myung thought of the powerful man he had seen before. Judging from his reaction at the time, he had clearly instructed McClain to look into it… … . Was that just a polite reaction?

As expected, a decisive move was needed.

“Mr. Krein, why don’t you give him a call?”

Still, McClain has a direct line to the powerful, and while it may not be as influential as it once was, it is still a conduit for negotiations with the Saudi government.

I kept urging the flustered McClain until he finally made the call.

McClain, who kept glancing at Nam Woon-myung with an anxious expression, finally dialed the number after mustering up his courage.

After some normal conversation, Nam Woon-myung took the phone.

“This is Nam Woon-myeong from Mega Asset Management. Thank you for your cooperation in investing in CSK last time.”

[Oh, I remember. I see you’re with Crain now.]

“Yes. Do you remember the UAM I told you about back then?”

[UAM?]

“I’m talking about building an urban air traffic system.”

Seeing that there was no immediate response, it was clear that he had only ordered a review out of courtesy at the time, and that he had not even read the investment plan that McClain had submitted yesterday.

It’s really hard for documents to get up there, whether it’s the president or the king.

“I won’t talk much since you’re probably busy. Let’s introduce eVTOL, which is the core of UAM construction. It’s a project to build a transportation network connecting Riyadh and the airport.”

[Isn’t that a problem that can be decided easily?]

“The investment in an eVTOL manufacturing company is also inherited. It will be the best investment for Saudi Arabia. Because it will build eVTOLs made with Saudi capital in the city center. Of course, if you build a transportation air system in the city center, you will need new infrastructure, right? How about establishing a company that designs future transportation networks? Wouldn’t it be the icing on the cake if you move into a floating city later?”

A new carrot was presented.

Saudi Arabia also needs to attract companies to the floating city it has built as an industrial technology complex. UAM-related companies are cutting-edge technology companies, so they fit perfectly into the image of the floating city. If UAM is introduced worldwide, companies that build vertiports will also hit the jackpot.

Given the disposition of the person in power I saw that day, there is no way he would turn down an opportunity like this.

[Hmm, that’s a good suggestion.]

“Come and see the developed eVTOL for yourself. You will experience a new world.”

I guarantee that there is no one in power who would not introduce the VF-3 after trying it out.

As expected, I still felt a sense of dissatisfaction.

Should I throw out one more bait?

“He said he will visit Abu Dhabi soon. Maybe Abu Dhabi will be the first to introduce eVTOL. The same goes for investing in eVTOL manufacturing companies.”

[Okay, I’ll change McClain back.]

Of course, Saudi Arabia’s power brokers and UAE’s Assyrians are competitors, knowingly or unknowingly. Naturally, this weakness should be actively exploited to stamp the seal on introduction.

Again, McClain explained diligently over the phone.

McClain’s expression brightened as he ended the call.

“It was a success. I can visit you unofficially in a week.”

The world’s richest man and the most powerful person in charge of the Saudi sovereign wealth fund decided to visit Vectorfly. Vectorfly suddenly became the center of attention.

“Once you fly in the VF-3, you will definitely invest.”

Ron, who had been watching the situation from the side, gave a message of hope.

Nam Un-myeong believed that that hope would become reality.

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