God of Corporate Hunting - Chapter 251



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◈ Episode 251 Saudi Arabia and UAE (1)

The top official in charge of Saudi Arabia’s sovereign wealth fund made an unofficial visit to Vectorfly.

Even though it was an unofficial visit, the U.S. government could not ignore the movements of the crown prince. Security personnel were stationed along the route, including Vectorfly.

Of course, Nam Yun-myeong had nothing to worry about.

As I experienced during Assur’s visit to Korea before, there is no point in worrying about it. I only got involved to a minimum.

McClain closely accompanied the crown prince from the airport, while Nam Woon-myung waited for them on the Vector Fly with Seon Yoon-ah.

The crown prince appeared, accompanied by dozens of attendants.

He is the world’s richest man and effectively the most powerful man in Saudi Arabia.

Just like that time, the crown prince entered the vectorfly with a smile on his face.

The wide area prepared for eVTOL takeoff and landing was filled with attendants and security personnel.

“Thank you for coming.”

Nam Yun-myeong welcomed them together with CEO Ron.

“Nice to meet you.”

The clothing of the crown prince and his entourage was typical Arab attire, as it was then.

The crown prince, who remembered Nam Un-myeong, continued speaking.

“Thanks to you, I was able to recover my investment in Credit Suisse quite well.”

“CSK will grow significantly in the future. It won’t take long. Two to three years will be enough. Vectorfly will also be related to CSK in the future.”

“CSK’s stock price recovery is expected.”

The crown prince’s complexion brightened.

This shows how much trouble the past Credit Suisse investment failure was for them. It can be assumed that the investment was not unrelated to the Crown Prince’s position.

In other words, even Saudi Arabia’s sovereign wealth fund, which is overflowing with money, cannot easily decide to invest today until it is shown a clear future for eVTOL.

After Nam Woon-myung finished his greetings, Ron took over.

While Ron was giving the Crown Prince the basics, Nam Woon-myung nodded to Seon-yoon-ah.

Seon Yoon-ah answered with her mouth, ‘I’ll be there soon.’

Nam Yun-myeong’s plan today was to bring Saudi Arabia and the UAE together to negotiate investment. These two are the world’s richest people and investors, and they are aware of each other, so it was judged that it would be easier to attract investment if they were brought together.

So he took charge of the Saudi side and left Ashur in charge of Yun Se-bin.

After about 10 minutes, the UAE group including Assur appeared at the main gate of Vectorfly.

Ashur strode in without hesitation and was the first to greet the Saudi Crown Prince.

Neither side seemed particularly surprised, as they both knew that they were visiting this place. However, there was a sense of restraint between the similarly dressed entourage.

After the key figures in power met with each other, Nam Yunming greeted Ashur.

“See you again.”

“Thank you for introducing me to a good investment.”

To guide Assur, Yoon Se-bin came to California today and welcomed Assur at the airport.

Regarding this role, Nam Woon-myung had asked Yun Se-bin for his opinion in advance.

If there were any awkward parts left because of the proposal, I didn’t plan on leaving it to her. Fortunately, Yoon Se-bin readily accepted and flew all the way to the United States.

“There were no problems?”

“I was just there.”

Ron took the Saudi Crown Prince and Ashur into the hangar where the VF-3 was stored.

Nam Woon-myung, Yoon Se-bin, and Seon Yoon-ah checked on their movements outside the hangar.

People’s exclamations and Ron’s explanations mixed together.

There is no one who would not fall in love with the VF-3 with its elegant design. Especially if you are one of the world’s richest people who spends money like water. Even if it was not designed as a personal flying car, wouldn’t a rich person want to have one on their front lawn?

There is no one who has ridden the VF-3 and would not ride it again. That is why the core of today’s schedule is the VF-3 test ride.

Boarding started as planned.

The VF-3 has a crew of eight. Excluding the pilot and Ron, it can carry six people.

There were three people each from the Saudi and UAE sides, and the two sides argued over who would sit where, ultimately deciding to have the Saudis sit on the left line and the UAE sit on the right line.

People from each country sat in a row, so that every seat had two countries sitting together.

Naturally, the Saudi Crown Prince and Assur were sitting next to each other in the seat right behind the pilot. It was a good thing, since the two were friends and rivals.

The rotors turned and VF-3 rose.

Nam Woon-myeong couldn’t take his eyes off the white VF-3 rising into the blue sky. That VF-3 is the fruit of Mega Asset Management’s investment. It is a collection of cutting-edge technologies, from eVTOL to hydrogen fuel cell development.

Now all that remains is to reveal it to the world.

VF-3, which had disappeared beyond the horizon, returned and flew into the empty sky on the opposite side.

Naturally, there was little noise. In the future, the eVTOL operation facility, the Vertiport, will be a welcome facility rather than an undesirable one.

There is no complaint at all about building a butiport in the middle of the city.

As passengers are passengers, the flight took quite a long time.

Soon, VF-3 returned to the foreground and the passengers on board disembarked with the aforementioned expressions.

“That’s amazing.”

The Crown Prince and Ashur had the same reaction.

* * *

We moved to the conference room and gave a brief briefing on Vectorfly’s history and current situation.

Naturally, Ron took charge of the explanation, and in the meantime, Nam Yunming checked the recent fortunes of the Saudi Crown Prince and Ashur. There were no particular problems with the two of them or Mackline. According to the fortunes, today’s negotiations will proceed smoothly.

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After the brief briefing, the microphone was handed over to Nam Woon-myung.

Nam Yun-myeong stood on stage and explained the investment.

“The key investment today will be the cost required to build a VF-3 mass production line. The VF-3 was developed by Vectorfly, but mass production will be done by a Chinese company called Zhonghua Automatic Machinery. This Zhonghua Automatic Machinery is currently virtually bankrupt, so its assets can be considered to be zero.”

The word China has drawn interest from both sides.

“As of now, VF-3 is expected to build urban air traffic, or UAM, infrastructure in 20 countries around the world within the next 10 years. Specifically, VF-3 and the transportation infrastructure construction facility system including vertiport will be included together. This means that a company will be established that will simultaneously manufacture airplanes and build airports. Isn’t that unusual?”

The design and development will be handled by Vectorfly, the VF-3 mass production by Junghwa Automatic Machine, and the construction of the air traffic system will be handled by a subsidiary of Vectorfly. Of course, the air traffic system must be promoted in cooperation with the country or city introducing UAM.

The crown prince immediately asked a question.

“Is there really a need to build a mass production plant in China?”

“Because that’s where the world’s factories, or related parts, can be purchased most easily and cheaply. There are many manufacturers of airplane and automobile parts. Of course, there are other reasons. The countries that China fears the most are Saudi Arabia and the UAE.”

China is an oil importer and heavily relies on oil-producing countries in the Middle East. Unlike other countries, it cannot rely on oil-producing countries.

In the Chinese corporate management system, where political influence cannot be ignored, having oil-producing countries behind the scenes significantly increases stability.

After raising the two countries like this.

“Of course, as mass production volumes increase, we will build additional production lines in India.”

As expected, a satisfied reaction returned to the faces of both people.

In recent years, the dangers of having a single supply chain have been revealed, making it essential for global companies to have dual factories.

Nam Yunming drew a picture of mass producing the VF-3 with production bases in China and India. Of course, in the case of China, Shanghai was given bonus points for being the first country to introduce UAM.

Since it is a cutting-edge product, China absolutely cannot afford to ignore this factory or this system. In other words, in the beginning, they can run the business as they wish.

However, the variable is that China is also a country at the forefront of eVTOL development. In the long term, it will be difficult for Vectorfly to monopolize the Chinese market. Therefore, it is best to divide the production base with India.

Next, we shared the distribution of shares by investor, the amount, and the future IPO plan. Since you can recover your investment immediately after the IPO, it has the advantage of reducing the investment burden.

The explanation is complete.

The Saudi and UAE sovereign wealth funds will each contribute $1 billion. This is an investment for mass production, and additional investment will be required to establish a company to build the UAM transportation network system.

After the explanation was over, the reactions from both sides were very lukewarm.

“What’s the problem?”

“We want to invest independently.”

The Saudi Crown Prince was the first to point it out.

“It’s the same for us too.”

Ashur also showed the same reaction.

Since they are enemies, they are reluctant to invest in the same place. Credit Suisse was a special case.

When I tried to strategically link the two together, they ended up keeping each other in check.

“Even if it’s 10 billion dollars, it’s only a 1 billion dollar investment, so we can’t do it together.”

“We will cover up to $1 billion of their share, so we will cover $2 billion. If necessary, we can raise it to $3 billion.”

“We’ll give you 3 billion dollars.”

“Then we have 4 billion dollars!”

“5 billion dollars!”

“Six billion dollars!”

It seemed like there was no thought to what the company’s value was.

It’s a rich guy bragging about his money. He bet billions of dollars in an instant.

Both sides were greedy, trying to invest alone, unconditionally excluding the other party, or even if they invested together, wanting to own more shares.

The eyes of the Crown Prince and Ashur met, sparks flying. It was a glimpse of their determination to never share the other’s profits.

I have a headache.

Ron suggested slyly.

“How about we just draw lots and do it on one side? That would be simpler and more profitable to invest in….”

“Let’s do that. We’re confident in the lottery.”

The crown prince agreed, and Ashur, of course, did not back down.

That’s not possible. The reason is that VF-3 needs to be installed in both countries. In fact, CSK can invest all the money needed to install the production line. It’s not that we’re reaching out to those two countries because we’re short on money.

However, the Crown Prince and Ashur are mistaken in thinking that this side is seeking investment because they have no money.

There is a long history of sovereign wealth funds boasting about having more money than the other.

In any case, the initiative lies with Nam Yun-myeong.

“The reason I proposed this investment to you two today is… to repay the favor you gave me when I invested in Credit Suisse. If it weren’t for you two, we wouldn’t have been able to acquire CSK. In the future, CSK will sweep up promising companies around the world together with the sovereign wealth funds of both countries. The investment in the VF-3 production line is just the beginning.”

The crown prince and Ashur coughed in vain at his serious reprimand.

Although CSK’s performance is not yet clear, it is stabilizing and it is difficult for either side to carelessly ignore it as they are all familiar with the success story of the previous Korea Asset Management consortium.

“If you two can’t get along like this from the first investment, how can you proceed with the next investment?”

“Yeah, I guess so.”

“But still, with that side…….”

They looked at each other and turned around with a much more relaxed attitude.

Looking at the atmosphere, it seems like any investment now will definitely pass. So should we just make a decision on everything now?

Nam Yun-myeong smiled and spoke again.

“Okay. Since both sides say the investment is small, let’s take this opportunity to properly plan the whole thing. The $1 billion I just mentioned is only for the Chinese factory. While we’re at it, let’s also pursue India. Considering the UAM that will be installed in the future, it’s easily digestible. Then, let’s go for $2 billion. Here…….”

There’s a reason why he exploded with confidence.

Seeing these two rejections today, I am convinced that we can sell private eVTOLs at a high price. Additional business is confirmed.

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