Money Likes Me Too - Chapter 83



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Episode 83.

OK Bank was a money-eating monster.

‘This is the most shameful thing ever.’

[ ‘Two combined for 5 million?’ ······ Internet-only banks are advancing, Cocoa Bank subscribers exceed 4 million, ‘latecomer’ OK Bank has 500,000. ]

It was a provocative headline. A latecomer.

Thanks to that, I was on my way back from the chairman’s office after getting hit in the eye with a newspaper thrown by my father, Do Hyeon-tae. My insides were seething.

‘Beat Cocoa Bank. Win at any cost!’

I had to keep it. It was the chairman’s order.

“Vice President.”

“hey!”

He immediately started swearing at his staff. It was in front of the office. He was just starting to vent his anger.

“Can’t you guys do it right? Who are you for now!”

“That, that’s not it······. Director KS Joo Sung-han is inside.”

“what?”

Went inside.

“Why is your voice so loud?”

Do Yu-jun, who didn’t even listen to Joo Sung-han’s words, sat down in his seat and let out a deep sigh. Tears welled up in his eyes as he was hit again.

“what’s the matter?”

“I was wondering how the Okay Bank capital increase payment is going.”

He came to collect a debt. There was no way he would speak nicely.

“Even if we talk about it, the manager should come and do it himself. Why are you here to make a fuss? I’ll pay it on time, so don’t worry about anything. Okay?”

“Are you trying to put it in as the price of the Peace A2 building?”

“······.”

I was speechless for a moment.

“That’s not it. But who did you hear that story from?”

“Lee Jeong-hak of the Administrative Compensation Association. That’s what he said. He said that they also have a lot of expenses to pay, so they should sell real estate. So I thought you had similar reasons.”

Do Yu-jun groaned instead of answering. He showed signs of discomfort.

“Can you tell me one more fun thing?”

“What is it?”

“I heard that Cocoa is also preparing for a bid. If you knew, I’m sorry.”

I didn’t know.

“what?”

The voice grew louder on its own.

“Why are you surprised?”

“I’m not surprised. Did that guy, Lee Jeong-hak, tell you that story?”

“maybe?”

“Why not? Cocoa already has A1. Isn’t that enough? What are you going to do with buying another building?”

Do Yu-jun, who had said the same thing, was lost in thought.

‘If the chairman finds out about this, he’ll definitely be upset. What should I do?’

Joo Sung-han, who read his mind, snickered.

“Why are you laughing?”

“Because the way you act is funny.”

“What? If you came here to pickle me, get out now.”

“You can go out, but you’ll regret it.”

There was a hint that something was wrong. The situation had changed.

“If you have something to say, say it quickly. Don’t add fuel to the fire while things are already boiling.”

I had planned to do that anyway. Joo Sunghan, who enjoyed Do Yujun’s urging for a moment, opened his mouth.

“Seongsam, did you know about Daehyun?”

“What? Seongsam, Daehyun is also bidding?”

In that moment, Joo Sung-han’s eyes narrowed. An expression as if he was looking at a bug flashed across his face. It was only for a moment.

“That’s not what it sounds like.”

His story went like this.

A few years ago, the Korea Electric Power Corporation site in Samseong-dong was put up for sale. It had been a long time since a piece of land of this size had been available in Gangnam. It was a golden opportunity for several large corporations that needed integrated headquarters.

As a result, Daehyun won the bid.

But the price was enormous. 10.5 trillion won. Most people estimated the land to be worth between 4 and 5 trillion won. They overpaid by almost twice.

There was a behind-the-scenes story.

It’s Seongsam.

Although it has never been confirmed whether this is true or not, there were rumors that the rival group Seongsam intentionally intensified the competition in order to put too much burden on Daehyun.

“Shall we light a fire?”

Do Yu-jun finally noticed.

“Yeah. Let’s put in some firewood and burn it. The appropriate price is around 800 billion, so if we do it right, we could probably get it to around 1.6 trillion won.”

Joo Sung-han said. Do Yu-jun nodded.

“That’s a good idea, isn’t it? Learning?”

“There’s a Chinese state-owned real estate group called Qingji Group. I know their CFO well. Just ask and they’ll take care of it.”

“Are you sure? You’re just going to raise the price and then run away?”

“Of course.”

Selling real estate in China was burdensome, no matter how much money it made. And it was also a problem if things went wrong later. It was not easy to crack down on. The two men agreed on that point.

Joo Sung-han made his pledge again.

“Instead, the condition is that all of the 800 billion will be put into paid capital increase. Do you understand? Don’t say anything else later.”

“That’s obvious.”

I came out of the office.

‘Do you think I would believe that?’

Joo Sung-han turned off the recorder he had kept in his jacket pocket. At least one problem was solved. It felt like a toothache had been solved.

* * *

I woke up.

‘It was a good dream.’

I had a dream that I bought a real estate wrong and went bankrupt. When I woke up, I was in bed. It was a refreshing morning.

There have been a lot of good things happening lately.

The first was winning a bet with Elon Musk.

After I pour all my money into SpaceX as promised, all I have left is stocks. It’s like before I started Cocoa. Then I just have to wait for the company to go under.

It was something I had hoped for and hoped for.

‘The second is right.’

It was a meeting with Warren Buffett.

At first, I looked at him with colored glasses because of his title as one of the world’s richest stock investors.

But when I got to know him, it was different from what I thought. He was someone who had similar characteristics to me.

The Berkshire Hathaway Group was actually born from his failure.

It was originally a textile company.

After acquiring the company in 1965, Warren failed to make anything of it except the function of a holding company for 20 years. Eventually, he gave up his original business and became another company focusing on investments and insurance. This was what people called his biggest failure.

It’s not that I couldn’t do it. I just didn’t do it. I was sure of it.

‘······I’ll buy the right to buy SpaceX stock.’

Thanks to that, I now understand the initial offer he made. He was thinking the same thing as me. I felt a sense of kinship.

I remembered something that happened a few days ago.

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‘Future Asset has put the A2 building up for sale. It is a competitive bidding process.’

It was Han Jang-soo’s words. It was obvious that he was forcing his words.

‘is it so?’

‘First of all, the price is said to be between 800 billion and 900 billion, which is slightly more expensive than A1, and at most it won’t exceed 1 trillion.’

‘I see. We’re bidding too, right?’

‘I’m telling you this because I thought it might be a good idea to give up the bid.’

Still, I was grateful.

‘You know what I’m saying even if you don’t hear it, right?’

‘······All right.’

That’s how I was preparing for the bid. Seeing that the dream job was good, it seemed like A2 would do well this year.

This was the third good thing.

“good morning.”

It was the first day of the Cocoa Forum in 2017.

It was also the first time since I became chairman. Since some time ago, the forum has been functioning as a conference call for cocoa, which is mostly comprised of unlisted companies.

It’s the same today.

Like Davos, we are an open forum where we must talk about the path our cocoa will take in 2017.

There is a saying that the last beauty is the last.

The last one is the most important. I agree with that. It is an important day.

CEO Han Jang-soo came up to the chairman’s office.

“Everything is ready.”

His face still looked uncomfortable. He got up. He touched it lightly on the way down.

“Are your preparations for the bid going well?”

One representative flinched.

“Yes. We will apply by the deadline. I don’t know if we will be able to win the bid though.”

“I heard that even Singapore’s Temasek is rushing to join the Chinese real estate group. Why is it so popular?”

I asked even though I knew.

“I guess they decided the price was cheap compared to its value.”

The location is also very good thanks to cocoa, he added. In simple terms, it has a premium. It’s because of me. I was a little stung.

“Can’t we allow our country’s buildings to be taken over by foreign companies?”

I brought up another story.

“······That’s right, Chairman.”

“It was because of us that A2 caught our attention.”

“I wouldn’t say that’s wrong. But if you say that’s wrong, then that’s another problem.”

“If it’s because of us, we have to solve it ourselves?”

There was no answer.

“There is a saying, ‘Let’s resolve it.’”

I continued talking without paying any attention.

“We are the ones who raised the real estate prices, and we are the ones who made foreign countries take notice, so we have to find a solution. We have to win the bid unconditionally, even if it means spending 2 or 3 trillion won, not 1 trillion won. Do you know what I mean?”

“······.”

He looked unconvinced. But I had prepared a lot to convince him. I said something else.

“Do you remember meeting Warren at the Davos Forum?”

“yes.”

This is the Warren Buffett story.

“He said something before. Do you know it?”

“What did you say?”

“He said, ‘Even if you offered me all the bitcoins in the world for $25, I wouldn’t buy any.’ Can you guess what he meant?”

“Well, doesn’t that mean the coin has no value? He’s a person who hates worthless assets that don’t produce any output.”

Ding, wrong. I shook my head.

“no.”

Han Jang-soo made a puzzled expression.

“The answer is this. If you can’t get a reasonable (expensive) price for anything, you don’t want to buy anything. Isn’t it ridiculous to buy Bitcoin at $25? Right now, the Bitcoin market cap is just under $20 billion. If you do a rough calculation, that’s a difference of a billion times.”

If someone were to make that suggestion in front of me, I can’t be sure I wouldn’t throw a punch.

“······.”

He looked like he had a lot to say.

But in the end there was no answer. We just walked in silence until we reached the entrance of the conference hall.

But I know.

In the end, he will follow my will.

He has been and will be loyal to his work.

‘If I’m going to be loyal, I’d like to buy it for around 2 or 3 trillion won.’

Went inside.

“Chairman Cocoa Kang Si-Hyeon is coming in.”

I felt this way while attending the Davos Forum. For business people, opportunities like forums are very valuable.

So this time, we invited all the companies working in Hwapyung.

The applause was loud. I looked at them and thought.

‘I have no intention of following Warren Buffett’s example. I will go my own way. This will be my last year.’

I feel a lot more at ease.

* * *

Naver’s Chief Financial Officer (CFO) Um Ju-seok received an unexpected call.

‘A2 is up for sale.’

It was a call from Jang Cheol-soo, who was the head of the Naver R&D Center. The center was in Hwapyong. It was the A2 building. He said he had been invited to the Cocoa Forum.

‘So?’

‘How about we buy it? The price is good too.’

Of course, it doesn’t matter if it goes over to cocoa as you worry about.

Just because the building is called Cocoa doesn’t mean that Naver can’t move in. The media may make a fuss about ‘uncomfortable cohabitation’ or something, but it’s not a big deal.

Jang Cheol-su’s contact had a slightly different meaning.

[ Naver’s new headquarters ‘Factory Earth’ ultimately falls through ······ Considering A2 as an alternative, ‘Will Cocoa and Naver’s cohabitation come true?’ ]

It was an article that came out a while ago.

It was past 11 AM when he finally went to the office of Chairman Radoyeon, founder of Naver, after staying up all night worrying about it. After all, it was not something he could decide on his own.

“Come in.”

I finished the report briefly.

“Hmm.”

Radoyeon whetted her appetite.

‘It’s gotten too big to be just a matter of pride.’

A lot has happened in the meantime. Naver, once the leader in the Korean ICT platform, has continued to give way to Cocoa.

The messenger business suffered a bitter defeat in Korea and Japan.

The webtoon business, which had been going well without any competition, also began to slow down. The advance of Cocoa Webtoon Company was scary. With the acquisition of Novel Land, Cocoa began to take the lead in the web novel business. If things continued this way, they could have been completely pushed out.

Naver was delayed by a year until it was designated as a large corporation. It was a huge loss.

But even A2?

But the words that came out of Chairman Ra’s mouth were unexpected.

“Let’s just pay attention for now.”

My mouth opened heavily.

“But don’t bid right away. It doesn’t really matter if it goes to Cocoa. Maybe this will be a good opportunity for us to re-establish our partnership with Cocoa.”

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