Chapter 231: Is It That Great?

“What the hell does that mean?!”

The room echoed with Chairman Seo Yong-geon’s roar in the Il-seong Group’s conference room.

Secretary Lee Seok-min, caught directly in the crosshairs of his fury, broke into a sweat as he replied.

“I reported exactly what I received from Vice Chairman Seo Jae-hoon.”

Chairman Seo Yong-geon’s face turned crimson as he mulled over the recently received report. His voice trembled with barely contained excitement.

“Why all of a sudden?”

“I’m not sure of the details. We were on the brink of an agreement, but suddenly the Japanese government ordered the Jungwoo Group to resume negotiations.”

“Jungwoo! Jungwoo, I say! That bastard Kim Mu-hyeok!”

Lee Seok-min had no choice but to bow his head in silence as Chairman Seo Yong-geon slammed the table and shouted.

After a long moment of gritting his teeth and venting his frustration on the poor table, Seo Yong-geon let out a heavy sigh.

Once he regained his composure, he spoke to Lee Seok-min.

“Contact Jae-hoon.”

“Understood.”

Lee Seok-min pulled out his cellphone and dialed a number.

After a few short beeps, a familiar voice came through the receiver.

“Yes, Vice Chairman. The Chairman wishes to speak with you.”

― Please pass him through.

Seo Yong-geon took the phone from Lee Seok-min and said in a stiff voice.

“What on earth happened? Give me the details.”

― Yes, Chairman. With the help of an acquaintance, we were about to finalize the negotiations. But yesterday, out of nowhere, Nihon Electric unilaterally announced the termination of talks. There hadn’t been any indication of such a situation before that.

Seo Jae-hoon’s voice was low as he explained the situation. Tsking his tongue, Seo Yong-geon grimaced.

“…Are you in contact with President Ino from Nihon Electric?”

― There has been no contact at all. He was someone who had a good relationship with you, Chairman, but he has been avoiding my calls since yesterday.

Seo Yong-geon maintained a special connection with President Ino of NEC since his study days in Japan. His entry into the semiconductor business was largely due to Ino’s strong encouragement.

It was hard to believe that someone like President Ino would break the negotiations and avoid contact for no reason.

“Why? Did he really say the negotiations were off just like that? It can’t simply be because Jungwoo is getting involved now that they’ve suddenly called it off.”

― According to the person helping us, the Japanese cabinet made a stubborn request.

“…You said the one helping you is the Yakuza, right?”

― Yes, Chairman.

Seo Yong-geon was initially uncomfortable with the idea of moving forward with the Yakuza’s help. But after witnessing how quickly things progressed with their involvement, he changed his mind.

If it could help Il-seong’s future, there was no reason not to borrow their strength.

He rubbed his dry face and asked again.

“What do they want? Why are they so keen to help us?”

― I heard that they had a serious clash with Kim Mu-hyeok in Korea before. Asa result, they had no choice but to withdraw from Korea. To re-enter, they need Il-seong’s assistance.

Thanks to his long study in Japan, Seo Yong-geon understood the Yakuza relatively well.

Unlike Korean organized crime, the Yakuza’s influence had been rooted since the Edo period. They had embedded themselves deeply into both the political and economic spheres.

So, he thought that if they offered their assistance, things would go smoothly. But faced with unexpected results, he let out a soft sigh.

“If this works out, make sure to tell them that Il-seong will take the lead in their entry back into Korea.”

― Understood, Chairman.

“Just because they say they’re here to help, don’t get too close. Never forget that they could become a liability at any moment. Also, Eva Zhu from Future Investment is in Japan, so check her movements. She’s bound to be up to something.”

After laying down the last piece of advice, Seo Yong-geon ended the call. As the excitement wore off, a heavy sense of fatigue washed over him.

He handed the cellphone back to Lee Seok-min and leaned back on the sofa.

“I never thought I’d have to go through such humiliation…”

Seo Yong-geon’s voice, full of lamentation, echoed hollowly in the conference room.

* * *

Eva in Japan received a phone call.

― Boss!

Eva’s lively voice came through the receiver. Although she felt a bit guilty for not being able to check in during her struggles, it seemed she was enjoying her work in Japan.

I smiled naturally, feeling a bit relieved by her cheerful tone.

“Eva, you sound bright. Do you have good news?”

― Yes! I’m negotiating with NEC. I think we can get a good price.

“What about the other semiconductor companies?”

― It seems the Japanese government is worried about public opinion in Korea and is hesitant to give everything to it. They insist that nothing else can happen.

It felt a bit lacking to rely solely on Nihon Electric. Qualcomm would be joining the fray soon, hopefully that would be alright.

I rubbed my chin slowly and asked.

“Are they planning to pass it on to Taiwan?”

― Maybe? Either Taiwan or the U.S. I can’t be sure, but I received a firm assurance that they won’t pass it to Il-seong under any circumstances.

As long as it doesn’t go to Il-seong, it didn’t matter where the other semiconductor companies went.

“When do you think the deal will be finalized?”

― I should be able to wrap everything up within this month. There are a few discrepancies that we’re working on sorting out.

“Alright, just hang in there a little longer. What about Jae-hoon?”

― He hasn’t left the hotel for a whole day. We’ve set up surveillance and are just keeping track of his movements now.

Once Il-seong found out about the breakdown of negotiations and learned about Jungwoo’s involvement, they wouldn’t hold back.

“Hmm… They’re not the kind to just sit still. If there’s any movement, make sure to have the bodyguards act together.”

I had already dedicated enough manpower for Eva’s protection. I even called for the Black Bear mercenary team from the U.S. and stationed them in Japan.

Yet still, Seo Jae-hoon’s sly smile lingered in the back of my mind.

As if sensing my unease, Eva spoke with conviction.

― Don’t worry, Boss. The bodyguards will handle close protection, while the mercenary team manages external security. Since it’s your team, there should be no issues, right?

“…I suppose that’s a relief.”

Putting my worries aside thanks to Eva’s cheerful words, I shifted the conversation back on track.

“So will you be able to come in next month? Han Gyeong-yeong is planning to return to Korea, but that might be difficult for now. It’d be great if you could come in to prepare for the upcoming shareholders’ meeting.”

― Sure thing, Boss. I think I can make it by then.

The court had granted the request for the shareholders’ meeting, and all the schedules were lined up. It was now Eva’s turn to come to Korea and handle everything.

“Alright. After this is over, let’s take a break together.”

― Okay, Boss!

Eva’s spirited response marked the end of our phone call.

I put my now-warm cellphone away and pressed the bell beside me to summon Manager Ma.

“Have Kim Byung-woo come in.”

Manager Ma nodded and exited the study. Left alone, I finally had time to gather my thoughts.

‘Once I acquire Qualcomm and NEC, dominating the semiconductor market won’t be impossible.’

The complex knots that had been tangled for some time were starting to unravel one by one.

Imagining how Seo Yong-geon must be fuming like a dog that chased a chicken, I couldn’t help but smile.

Before long, Manager Ma opened the door and walked in.

“Boss, Chairman Kim Byung-woo has arrived.”

Opening my eyes from deep thought and straightening up from my chair, I got ready to greet him.

“Let him in.”

I walked over to the sofa and took a seat in the main seat.

Moments later, Kim Byung-woo of Jungwoo Group entered, deeply bowing his head.

“Chairman, did you call for me?”

“Yes, come here and sit down.”

Kim Byung-woo raised his bowed head and walked over to take a seat where I indicated.

Perhaps caught off guard by being called in suddenly, his expression showed signs of confusion.

“The reason for today’s meeting is regarding the NEC acquisition negotiations. You’re to go directly to Japan and work with Eva.”

“…Uh, yes?”

It seemed my statement had completely caught him off guard, as he responded a beat too late.

“I told you last time, didn’t I? I said there would be good news. The acquisition is almost confirmed, and you need to go to Japan right away to work with the team.”

Even after I finished speaking, Kim Byung-woo still appeared dumbfounded.

It wasn’t surprising since something he’d believed impossible was actually happening. I smiled softly, watching his bewildered face.

“Yes, yes. I’ll head to Japan right away. NEC…”

It came out as a small, trembling voice as Kim Byung-woo’s expression turned dazed.

“Is it that great?”

“It’s the leading player in semiconductors. Although it fell due to pressure from the U.S., it still possesses scale and technology on par with Il-seong. The prospect of a latecomer like us acquiring them seems unbelievable.”

Even if the Japanese semiconductor industry was on a downward curve due to the US-Japan semiconductor agreement, they still held the top market dominance.

Yet ten years would be sufficient time for latecomers to close the technological gap with Japanese firms.

“And it seems we will also begin negotiations for an acquisition with Qualcomm. That’s still uncertain, so we need a little more time before that becomes definite.”

“…”

Kim Byung-woo stood speechless, his mouth slightly agape. He seemed to be in shock and remained silent for a while.

“Once this is confirmed, you need to head to the U.S. immediately.”

“…Truly, you are incredibly capable, Chairman.”

“I haven’t done much. It’s all thanks to my people working so hard.”

Kim Byung-woo shook his head firmly.

“In business, knowing how to place people in the right roles is the hardest part. Even if you say you haven’t done much, just having people under you who work hard is a skill itself.”

I returned his compliment with a smile and reminded him of his responsibilities.

“If we acquire NEC, Jungwoo Electronics will be the winner of the semiconductor industry’s chicken game.”

The current chicken game in the semiconductor industry was simple in its mechanisms.

A leading company with superior technology and capital would produce excellent semiconductor chips based on their established technology.

As a result, competitors with weaker tech would have to win based on relatively lower prices.

But the leading company would use the funds they had gathered to further lower prices, putting the weaker competitors under severe pressure. Ultimately, those with less capital and tech would have no choice but to withdraw from the business.

But Jungwoo Electronics was different.

Thanks to the financial support I provided, they wouldn’t fall behind any competitor in terms of capital.

The technology gap I was lagging behind Il-seong on could be closed through the acquisition of NEC.

Moreover, if I used the little information I provided to be the first to develop the next generation of semiconductor chips, and if I succeeded in commercializing them, then Jungwoo Electronics would emerge victorious in the chicken game.

“To be honest, without your support, we would have already withdrawn from the semiconductor business. It’s an absurd situation. We’ve recorded losses exceeding 50% compared to production costs.”

The current semiconductor market had become a monstrosity where the more you produced and sold, the greater the losses. But if you dominated the market, it was like owning a goose that laid golden eggs.

“It’s fine. Like in the 80s, even if we record a loss rate of 80%, capturing the market first is the priority. The larger Il-seong’s deficit grows, the more favorable it is for us.”

In the 1980s, Japanese semiconductor firms emerged as winners in the chicken game.

But in the 21st century, it was me and Jungwoo Electronics who would win the chicken game, and that would be recorded in history.

“For a Korean company to take NEC, known as Japan’s IBM, would be a humiliation for them.”

The merger between NEC and Hitachi didn’t yield the expected synergies.

Ultimately, their coexistence broke down, and NEC decided to withdraw from the semiconductor business.

All of this stemmed from the East Asian financial crisis and the small changes I initiated in Japan. It was truly a butterfly effect.

“Currently, the four strong contenders in non-memory are…”

“Yes. Il-seong Electronics, Jungwoo Electronics, Micron from the U.S., and the NEC-Hitachi alliance. Although now it seems we will transition to a three-player format.”

“We’ll continue our fight until Il-seong crumbles, and just Micron and Jungwoo remain standing.”

“Understood, Chairman.”

After a short meeting with Kim Byung-woo, I sent him on his way.

If one butterfly didn’t create a storm, releasing a thousand or a million would do the trick.

Time flew by, and a week passed in no time.

Han Gyeong-yeong contacted me, and I managed to set up a schedule to meet Bush.

Since I was heading to the U.S. after a long time, I decided to take care of a few matters. I set off for Gimpo Airport a few days earlier than planned.

After completing the departure procedures, I boarded the private jet when a call came in from the security team in Japan.

― Representative Eva has been attacked.