He is Already a Tycoon at a Young Age! - Chapter 112



Only Noblemtl

#112

October 18, 1997, Taean Group Chairman’s Office.

‘On October 15, Ssangbangwool Group went bankrupt and Taeil Precision.’

It was declared bankrupt. Then, on October 16, an IMF investigation team visited South Korea, and on October 17, Taiwan finally gave up its foreign exchange defense.

The entire Asia was caught up in a foreign exchange and financial crisis, and this situation was quickly heading towards South Korea like a typhoon.

‘The South Korean economy is in a state of limbo.’

America is now preparing for a new century.

At the center of it all is the IT industry.

‘Amazon.com is now Pacific.com.’

I founded Thunderbolt, an electric car company in the US, and am building over 1,000 Thunderbolt Centers, electric car charging stations, across the US, starting in Silicon Valley.

However, the scale of the facility was not just that of an ordinary electric vehicle charging station, but that of a logistics warehouse and large-scale shopping mall.

‘Like America.’

I am also preparing a 100-year future for myself.

‘If Pacific.com takes over the US, if not the world, online e-commerce market.’

The Thunderbolt Center will unleash tremendous destructive power.

‘And one more thing!’

Now, Taean Group plans to take on a new challenge.

‘No matter what anyone says!’

10 years later, the era of smartphones will begin.

With the spread of the Internet.

So what should my Taean group prepare?

Samsung Electronics has been making extensive preparations to change its structure with smartphones.

‘Then I develop a smartphone operating system.’

I plan on doing this.

The name of the smartphone operating system has already been decided.

‘Galaxy!’

If Samsung Electronics were to develop a smartphone operating system from now on, it would naturally have to adopt Galaxy, the smartphone operating system developed by Taean Electronics.

In the future, the Galaxy operating system will control more than 40% of the smartphone market.

“South Korea is now on the verge of national bankruptcy. The IMF investigation team visited two days ago.”

“Yes, public opinion is not good accordingly.”

The Taean Group Chairman told me.

“I guess so.”

“Yes, if things continue like this, it seems like South Korea will soon be ruined.”

“The fate of the Korean economy is left to the Republic of Korea, and I have called this meeting to prepare for the next 100 years.”

“A new century?”

My uncle, the president of Taean Electronics, muttered to himself and frowned.

‘Because I made a bombshell announcement before.’

Develop the Sahara Desert!

Because I announced that I would prepare for the long term for the future of Taean Group.

“Didn’t you say that Sahara was a long-term plan that was going to proceed slowly?”

“Yes, the Sahara Desert development project will proceed slowly, planning for the next 10 years and preparing for the next 10 years.”

“Thank goodness. I’m really grateful. Ji-sung, that’s definitely not easy, maybe even impossible.”

“That’s true now, but who knows what the future holds. And I’m going to do a Sahara Desert greening project, and turn 20% of the entire Sahara Desert into a huge farm. Of course, I know that there are political and diplomatic problems on the African continent. So I’m going to plan for 10 years and prepare for 10 years. But today’s meeting is not about the Sahara.”

“Mr. Major Shareholder, then what is the new 100 years for Taean Group?”

The Taean Group Chairman asked me.

“It’s a cell phone.”

The president of a key affiliate of Taean Group who attended the meeting looked at me with a look of incomprehension.

“Samsung Electronics is producing and selling mobile phones successfully, dominating the market, but Taean Group, of all groups, is belatedly entering the mobile phone business?”

My uncle, the president of Taean Electronics, asked me with a look of incomprehension.

“As I have always said, a world where you can use the Internet anywhere via your mobile phone is coming soon. However, in order to use the Internet smoothly via your mobile phone, a new operating system for mobile phones must be developed. The existing methods cannot handle the vast amount of information.”

“An operating system exclusively for mobile phones?”

The Taean Group chairman was surprised.

“Yes, we were able to decide on this business because we have Samsung Electronics within our group.”

“ah!”

The Taean Group Chairman and the Taean Electronics President looked surprised.

There was something about the way you looked at me that made me think you were different.

‘The first smartphone will be released and successful in 10 years.’

In October 1997, I had ten years to spare.

“In the future, I plan to call mobile phones that can access the Internet ‘smartphones’ and make them a synonym. And the name of the operating system for those smartphones is Galaxy.”

“Jisung, the more I see you, the more amazing you are.”

“Yes, I think your business ideas are different from others.”

“The truth is yet to come.”

“There is something real?”

“Yes, the truth is different. If we can use the Internet conveniently even outside thanks to smartphones in the future, a new culture will be born. And Galaxy is not only used by Samsung. Smartphone manufacturers will make sure that the Galaxy App Store is included in all smartphones they produce.”

“What does App Store mean?”

The Taean Group Chairman asked me.

“After personal computers became widespread, the number of people who play games on those computers increased. Of course, they also use the Internet. So what will happen when smartphones become widespread?”

“You mean you can play games on your smartphone too?”

“You will download games from the Galaxy App Store. And games are just one of many apps. There will be many other apps. Just like the various software on Windows. For now, I am just explaining it as a game.”

At my words, my great-uncle, the chairman of Taean Group, and the presidents of key affiliates nodded their heads.

“In the future, many games from all over the world will be available on smartphones. And the market for purchasing them will be the App Store. If you sell paid items in the game, you will receive a toll. Of course, at first, the profits will have to be given only to the game company. And that will only be until the Galaxy App Store dominates smartphones.”

“Hey, Ji-seong!”

My uncle, the president of Taean Electronics, was so surprised that he even stammered.

“Jisung, if what you say is true, then games aren’t everything.”

“Yes. Right now, you call a Chinese restaurant and order delivery, but in the future, you’ll be able to get delivery through an app. It’ll be a kind of delivery agency service. And the agency service app will either be made by someone else or you’ll have to get it from the Galaxy Store. That’s the real deal.”

“Then I guess I should start by establishing a software company.”

“Yes, of course we should. We will establish a software development company with the mission of Galaxy Software. And we must scout not only the best engineers in the country, but also capable IT engineers. Lastly, everything we have said today must be a secret that no one knows.”

“of course.”

“Yes, I think it should be that way.”

And I was shopping for bankrupt South Korean companies with my grandfather, even though I had given up the exchange rate gains that would have occurred due to the exchange rate surge.

‘Even if the South Korean economy collapses.’

I plan to start my next 100 years with the Galaxy App Store.

‘The Thunderbolt Center dominates offline.’

Online e-commerce is dominated by Pacific.com.

And they plan to build a huge empire called the App Store through the smartphone operating system.

‘It’s 1997 now.’

I can do anything.

* * *

October 20, 1997, Pacific Investment Corporation, South Korea office.

This investment firm started out as a four-man investment manager firm and has now grown into a leading investment firm on Wall Street.

It is operating with more capital in the US corporation than in Korea.

‘With domestic investment corporations.’

Each U.S. investment corporation is an independent investment corporation.

I own 99% of the shares of that investment firm. Although it has grown in size, it is no exaggeration to say that it is ultimately my personal investment firm.

“As you instructed, the American investment corporation has secured a 12% stake in Samjung Electronics.”

The percentage of stocks that foreign capital can acquire in domestic companies is currently at most 12%.

‘Through donations and purchases.’

It owns 15% of Samjung Electronics. In other words, unlike other domestic conglomerates, the stake of the CEO and his family is enormous.

I never plan on using the trick of converting debt into equity.

Of course, my grandfather still controls the management of Samjung Group with a small stake through a debt-to-equity conversion.

But Taean Group is different.

‘At least 51%!’

Because I own up to 100% of the shares.

This is complete control of the group. I have a perfect stake that no one can say anything about.

“The law will soon be revised to allow foreign capital to own more than 15% of domestic companies’ stocks, instead of the current 12%. The South Korean government needs to somehow attract foreign investment.”

“I think so too.”

“Purchase shares of Samjung Electronics and Samjung Group every time.”

“But, the largest shareholder.”

“why?”

“As time goes by, won’t the four leaders of the Samjung Group eventually become the largest shareholders? Through donations or inheritance.”

“I can become the fourth leader, but in order to completely control the group, securing shares comes first. I don’t want to use the trick of converting shares into equity like other group leaders or their families and control the group with a small amount of shares. Converting shares into equity will become a problem later.”

The investment managers nodded at my words.

“Yes, I understand.”

“And since Taiwan gave up its foreign exchange defense, there was an exchange rate gain as a result?”

“Yes, that’s right. The profit from foreign exchange gains is an astonishing $5.5 billion.”

Now my net profit unit has become huge.

“And all of the net proceeds are deposited in the account of an investment corporation in Taiwan.”

This is also what I instructed.

“That $5.5 billion will be reinvested in Taiwan and used to buy a stake in Taiwan’s largest semiconductor company.”

When a foreign exchange crisis occurs and an economic crisis occurs through that foreign exchange crisis, the stock prices of companies will naturally plummet. So now is the time to secure shares of Taiwan’s largest semiconductor company, which represents Taiwan.

‘In the end, it’s a Taiwanese semiconductor company.’

It will compete with the semiconductor division of Samsung Electronics, but there is no need to ignore the wild rabbit just because the rabbit is plump.

In this way, the Asian foreign exchange crisis and economic crisis were giving me more profits than I had imagined.