The Magician’s Memorial - Chapter 292



Only Noblemtl

292. The power of unity (1)

After the meeting with the finance minister nominee, I returned to the hotel.

The CEO, who had been gathering his thoughts in the moving car, opened his mouth only after entering the hotel.

“Will the U.S. government accept your conditions? As Secretary-designate Timothy said, it could be an act of betrayal of supporters. And it could also hurt America’s pride.”

“But wouldn’t it be better than going bankrupt? The U.S. government seems to want to save all the big three automobile companies, and if we take over one company, the burden on the U.S. government will be much less, so we can’t just refuse.”

The ball went to the U.S. government.

First, we had to wait to see what decision the U.S. government would make.

“It looks like the next meeting will not take place until quite some time has passed. Won’t it be difficult to even hold the meeting since the cabinet hasn’t been properly formed yet?”

“Time is on our side, so we just have to take our time and wait. They say the big three automakers got bailed out, but that money won’t last even a few months.”

A president whose thoughts deepen.

The atmosphere could easily become heavy, but David came into the room with good timing and bought three packs of beer.

“Why is the atmosphere like this? It’s been a while since we all got together in America, so let’s have a cool drink!”

“Really? Boss Han, stop worrying and just drink beer.”

Everyone except Captain Kang picked up their beers at the same time.

We deliberately didn’t talk about the car company at all, and only talked about other businesses.

“Boss! But shouldn’t we reduce our investment in battery companies a little? They say we’re running a bigger loss than expected.”

“We are still in deficit as the battery market has not yet grown further, but once electric vehicles are commercialized, we can repay all the sluggishness so far at once.”

“It is expected that it will take at least 10 years until that happens. I agree with David’s thoughts. I have wanted to tell you this for a long time. It is difficult for a battery company to sustain itself in the smartphone market alone.”

The battery industry was booming.

As the smartphone market grew, sales were increasing, and our battery company had a high market share due to its technological superiority.

So, if we just reduced the investment size, we could get out of the deficit at once.

However, in order to prepare for the electric vehicle market, we could not stop investing because we needed batteries that were much better than what we have now.

“I agree to a certain extent with President Han’s opinion. It will take at least 10 years for the era of electric vehicles to arrive. So, we need a business that can serve as a bridge that can withstand the 10-year period.”

“Smartphones and electronic products alone are not enough. We need a market that uses batteries in large quantities.”

In response to President Han’s question, I looked at Captain Kang.

This was because Captain Kang, who runs a taxi and rental company, thought of a business he could do.

“Captain Kang, would you like to try a new business?”

“I am ready to do whatever the Chairman asks me to do.”

“Do you know anything about the last mile?”

“This is my first time hearing it.”

“Office workers who use public transportation usually walk from the bus stop to the office. That distance is called the last mile.”

Did he suddenly say something strange?

Everyone was looking at me with puzzled eyes.

“I heard that in some parts of Europe, local governments are implementing public bicycle projects for the last mile.”

“I can’t take a taxi for that short distance, so it would be more convenient to use a bicycle.”

“There is a more convenient way to get there. If you use an electric bicycle or electric kickboard, wouldn’t you be able to get to your destination quickly without having to pedal?”

The business I envisioned was last mile.

A transportation rental business that was popular before the regression.

It was a business where anyone could rent electric kickboards, bicycles, etc. through an app and travel the last mile quickly for a small fee.

“It seems like it would be good to use it during busy commute or school hours. But wouldn’t there be a problem with theft?”

“That problem can be solved through a security system. Let’s start a last mile business not only in Korea but also in major cities in the United States and Europe.”

“It doesn’t seem like a bad business. However, there is no department in the Taewo Group to develop electric kickboards and bicycles.”

One president responded positively.

He agreed because it was a way to reduce the battery company’s deficit.

“Try developing it in collaboration with bicycle companies. There are quite a few electric bicycles and kickboards already on the market, so it would be helpful.”

“The problem can be solved that way, but the initial business capital may be more expensive than expected. Installing electric bicycles and kickboards in major cities requires at least tens of thousands of units.”

“Battery usage is increasing, so there will be some recovery. And if the business goes well, costs will be recovered quickly. And wouldn’t the electric kickboards and bicycles on the road be a kind of promotional tool?”

Rental electric mobility vehicles were a good promotional tool.

You can try it out at a low price and purchase it separately if you like it.

“I would like to know what size the shared transportation market is in your opinion.”

“In Korea alone, a market worth at least 500 billion won will be created. If you add the US and Europe, it could be in the tens of trillions of won.”

“If that’s the case, it seems worth proceeding. Although it may require a lot of initial investment, it doesn’t seem like a loss since it can increase sales for battery companies.”

“Captain Kang, take charge of the Korean market. David will hire experts to handle the US and European markets.”

“I know the experts in that field well! But is there a reason not to do it with Taewo Group? If it’s a market where sales will exceed trillions of dollars, wouldn’t it be more advantageous to do it with Taewoo Group?”

That can’t be possible.

Because it was a business that would receive a lot of criticism.

Although it was good for users because it was convenient, it was a shared service that was nothing short of a disaster for pedestrians and drivers.

It could have opened the gates of hell for the battery market.

Of course, even if I didn’t open it, it was a market that would open someday, but it was clear that my intervention opened the gates of hell more quickly.

We carried out the shared mobile device business while sending our sincere apologies to those who were suffering.

* * *

A week passed while I was planning the last mile business.

Now it was time to get a response from the White House, but there was no news.

Rather, reactions were coming from unexpected places.

“Chairman, an article has appeared saying that Taewoo Group is planning to take over one of the big three automobile companies.”

“Hmm, it can’t have come from us, so it looks like the White House is starting to play media.”

The possibility that it came from Taewoo Group was very low.

Not only were there very few people who knew this information, but there was nothing good to be gained from leaking the information.

“It seems highly likely that it was leaked by a politician who opposes the acquisition of an American automobile company by a Korean company.”

“Let’s look at the article first.”

A boss handed me a laptop.

I read the article with great concentration for a long time.

“It’s an article written with a negative tone. As one CEO said, I think the media is playing a role in the opposition against us.”

“In particular, there are words listed that are likely to touch the emotions of the American people. ‘The Taewo Group, a Korean company, is preying on an automobile company that is the pride of America.’ “There are some parts that are explicitly written in this way.”

An explicit and provocative article.

There was a strong will to prevent Taewoo Group’s acquisition of the Big 3 automobile companies.

“What is the reaction to the comments?”

“Negative comments are close to 70%.”

“Is that all it takes? I thought it would be over 90%.”

“As so many people lost their jobs due to the Lehman crisis, there is a significant response that it is okay to acquire a company in any country as long as it can save the company.”

It was a much better response than expected.

Even though we did not publish a rebuttal article, the fact that 30% of people took our side was a meaningful figure.

“Don’t prepare a rebuttal article, just leave it alone.”

“I’m sure the White House will be interested as well. If we leave it like this, it could create a negative image.”

“If they’re going to reject our offer with an article like this, it’s right to give up on the acquisition.”

“Okay, then I will cancel the preparation of the rebuttal article.”

Is it because we didn’t refute it?

Various media outlets began reporting articles with a similar tone every day.

After waiting for three more days, the White House finally began to move.

“Boss! I received a call from the White House. They have asked me to attend a meeting tomorrow with major ministerial nominees, including the Treasury Department.”

“Can I be the only one attending?”

“That’s right. Since it’s a private meeting, the boss has to go alone.”

“Now is the time to negotiate. If conditions continue to remain sluggish tomorrow, we will withdraw our intention to acquire.”

“Are you saying that if the conditions are good, we could make a decision on the acquisition tomorrow?”

“It could happen if the White House accepts all the conditions I presented. But it doesn’t matter if it’s not necessarily tomorrow. There are still many opportunities.”

Now only the second meeting.

If you want to acquire an automobile company that is considered the pride of America, shouldn’t you at least give it a lot of thought?

Of course, it would be nice if we could negotiate tomorrow.

* * *

A meeting taking place in a completely different atmosphere than before.

During the previous administration, meetings were held with VIPs and officials from the Federal Reserve and the Treasury Department, but those meetings were held at the Federal Reserve building.

Pressure from the White House.

And a number of ministerial appointees.

As I entered the conference hall, the minister-designates looked at me without saying a word.

Among them, there were people who looked at me like they were going to chew me up, and I thought they were probably the ones leaking information to the media.

“Let’s start the meeting. As you all know, this is Kim Min-jae, Chairman of Taewo Group. We have brought you to today’s meeting to discuss the acquisition of the Big 3 automobile companies.”

Finance Minister-designate Timothy led the meeting.

In the center, President Obama welcomed me with an awkward smile, but before he could reply, sharp comments started coming from all over the place.

[Hmm, it would be absurd for Taewo Group to acquire the Big 3 automobile companies. It is said that Taewoo Motors is making a name for itself these days, but it still has a long way to go!]

[The automobile industry is America’s pride! How could one of the big three companies representing the automobile industry be sold to a Korean company!]

The article and Tosi say the same thing without a single mistake.

It was a moment when doubt turned into certainty, but even if I knew who was playing the press, it wouldn’t have changed anything.

“I have not yet decided to acquire the Big 3 automakers. I said I would only announce my intention to acquire the company after improving systems, including the job bank, relocating factories, regulating strong labor unions, and restructuring.”

[Hmm, I agree with you on that issue. This is a necessary measure to revive the automobile industry.]

[What do you mean by that! Don’t you know who won this election thanks to you?]

[So you’re saying you’re going to make the big three companies bankrupt? If there is no change, we are doomed! Isn’t that why the President emphasized change in his inauguration speech?]

The people who had joined forces to attack me just a moment ago.

But when I spoke up, they split in half and started biting each other.

Although they had the same intention that American automobile companies could not be sold to Korean companies, their intentions for changes in the automobile industry were different.

It was also the situation I wanted.

If we bite and tear at each other, there will be more corners for me to squeeze into.