Chapter 70
Chapter 70
Translation: Godtl
"Well, look who it is. Isn't this our land tycoon Jeong Jin-ho?"
"You've heard about it too, hyeong?"
"Is there anyone left in South Korea who doesn't know Dongtan land prices are skyrocketing through the roof?"
Dongtan, once a sparsely populated area with little traffic.
Suddenly, it had become the city of dreams.
"So, did you sell the land?"
"No. To be honest, I hadn't even been paying attention to that area. Been too busy with work."
When I bought land in Dongtan, it wasn't for speculative purposes.
I was simply looking for land to fulfill my personal dream—whenever I came across a place that intuitively felt right, I'd buy it first and think later.
This was my mistake.
I should've realized it when that intuition struck.
I just wanted to quietly build a landmark where my guild members and family could relax and enjoy themselves, but it seems I accidentally bought prime real estate.
Chuckle. They say when someone's truly destined for success, they'll trip and fall into gold. Wait—so you really bought it purely to build something, with no speculation in mind?"
"That's exactly it. Did you think I had connections with the current administration and was deliberately speculating?"
"No, but the timing is uncanny. How is it that every piece of land you bought has turned to gold dust now?"
It was a perfectly reasonable misunderstanding.
The only saving grace was that I'd started acquiring land as early as January of last year.
"But I heard you bought land in other areas besides Dongtan too."
"Yes. I was looking for relatively quiet places not too far from Seoul..."
The main areas where I'd purchased land were Dongtan, Hwaseong, and Giheung.
Places moderately quiet and sparsely populated.
"About how much did you invest?"
"Combined, it'd be around 50 billion won."
"50 billion? What kind of land did you buy for 50 billion? Aren't Hwaseong and Giheung land prices relatively cheap? Wait—no, 50 billion isn't even that much money for you anymore, is it?"
My assets had grown into the trillions, and handling billions at the company had become routine, so I'd apparently lost perspective on what 50 billion meant.
I'd just been casually buying land, thinking—I'll just build a landmark on one of these plots someday—and carelessly left it at that until this mess happened.
"This is why they say Korean real estate never fails. Dongtan land prices have already quintupled. So there must be tons of developments popping up around the building you're currently furnishing?"
"The immediate vicinity is fine since I own the land, but just a little further out, apartments and commercial buildings are already preparing to move in."
The new Dongtan city development had countless construction companies scrambling to get in.
The tranquil Dongtan atmosphere I'd wanted was now goodbye.
Though land prices had risen, I didn't feel happy—more like something had been taken from me.
"So what are you going to do? What about the building currently under construction? Just proceed as planned?"
"I'll at least complete what's already being built. But I plan to revisit Giheung and Hwaseong. While Dongtan's prices are skyrocketing, land values in those two areas are actually dropping."
Giheung and Hwaseong had many factories, so land prices there rarely increased.
"But couldn't those areas suddenly spike like Dongtan did?"
I shook my head with a laugh.
That wouldn't happen.
＊＊＊
"What? Rejected?"
"Yes. Gwangun has declined all our meeting proposals."
Tony Hwang clutched his throbbing head.
Nvidia, with its $60 billion market capitalization, had swallowed its pride and extended the invitation personally—only to be refused.
What could this mean?
"It seems they're determined to take this all the way."
Gwangun truly intends to crush TSNC with this opportunity.
But do they really think that's possible?
Do they honestly believe Kangsung can handle the overwhelming demand even if TSNC collapses like this?
"Though it's clear TSNC is in real danger now."
"What's the Taiwanese government doing? TSNC is critically important to Taiwan. Isn't it a national industry?"
"That was true until the previous administration. The problem is they started off on the wrong foot with Taiwan's current government. The current administration strongly denies the One China policy, doesn't it? Meanwhile, TSNC—supposedly a national representative company—joined hands with the Yonghae Alliance to help strangle Taiwan's shipping industry."
The Yonghae Alliance.
Those bastards were the root of the problem from the very beginning.
It was fine when Chinese conglomerates joined hands to suppress the exponentially growing Gwangun Shipping, but they got too greedy.
They seemed intent on seizing Tianjin Port and slowly drowning Gwangun Shipping.
But whether high-ranking Chinese officials were backing Gwangun or not, the conflict escalated into a political battle—Tianjin Port was obliterated, and all the involved figures were dragged away to who-knows-where, their fates unknown.
"It's fine that the Yonghae Alliance disbanded. But they should've at least cleaned up their mess properly. How can they just start a business and then wash their hands of it? And why the hell did those TSNC bastards have to shake hands with those kinds of people... Tsk."
That was exactly why the current Taiwanese government didn't look favorably upon TSNC.
Because TSNC had allied with the Yonghae Alliance, which had deep ties to the Chinese government, and helped wipe out the few remaining Taiwanese shipping companies.
And that snowball had rolled all the way here.
"They dug their own graves, didn't they?"
But if they actually ended up in those graves, it'd be a disaster.
They could still manufacture and ship semiconductors, but with raw material imports nearly halted, producing the semiconductors themselves was practically impossible.
In that case, the current administration should step in to help—but instead, they were busy fighting over pride.
What an utterly frustrating situation.
"No choice. Even if it costs a fortune, we'll have to route shipments through Rusk."
At this point, even sheer spite wouldn't let them back down.
Kangsung seemed to be scheming to dominate the foundry market by teaming up with Gwangun, but he had no intention of just sitting back and watching.
Besides, Tony Hwang had never held much goodwill toward Korea to begin with. He'd rather see TSNC take over the market than let Kangsung become the sole monopolist.
"In the end, time is on our side in this fight."
Sure, Gwangun currently dominated the shipping sector.
But given enough time, that pie would inevitably be snatched away.
Especially with Rusk lurking, waiting for the chance to steal Gwangun's share.
They must have caught wind of the conflict too, as they'd already proposed separate contracts to Nvidia and TSNC. In other words, the longer this dragged on, the worse it was for Kangsung's side.
"Once things settle down a bit, we should cut all remaining contracts with Kangsung. In the meantime, scout other companies so we can switch immediately."
Arrogant bastards.
But their days of throwing their weight around like this were numbered.
If they could secure shipments through Rusk and ramp up semiconductor production, things would normalize in no time.
"Just wait until they come crawling, begging for a meeting. See if I answer."
You know what they say.
Repay kindness twofold.
But vengeance tenfold!
＊＊＊
The stock prices of semiconductor and graphics companies, which had been soaring high on the Bitcoin craze, suddenly began to fluctuate wildly.
This wasn't just a routine market correction.
"By now, anyone who needs to know already does. TSNC can't produce, which means no new graphics cards are coming out."
The rumors that had been quietly circulating among industry insiders had now spread to the public.
With news breaking that new product releases were delayed and even existing products could no longer be manufactured, stock prices were plummeting.
"The drop was so severe that Tony Hwang personally stepped in to clarify. He said they've already partnered with Rusk Shipping to supply raw materials to TSNC and promised to restore normal semiconductor chip production soon."
Tony Hwang must have been grinding his teeth in frustration.
It wasn't just empty posturing—he was genuinely working with Rusk to ship all the raw materials that hadn't been able to reach TSNC.
"Tony Hwang went off on Kangsung and our Gwangun, calling them out for being ungentlemanly. The funny thing? The controversy actually boosted Kangsung Electronics' stock by 15% today."
Tony Hwang had fiercely criticized both companies.
But neither of them took any real damage.
In fact, Kangsung ended up benefiting.
"What about the others?"
"Just like Nvidia, everyone else is getting wrecked. And thanks to Tony Hwang's statement, it's even worse. Because TSNC announced they'd prioritize producing Nvidia's semiconductors first once they receive the raw materials. That means no one knows when the others will get theirs."
As a result, just like Nvidia, AMC—which also had high dependence on TSNC—saw its $2 stock price barrier crumble.
"At this rate, there's a strong possibility we won't even be able to defend the $1 mark. The bigger problem is, if things get worse from here, panic selling will continue, and then the exchange might halt trading altogether before proceeding with a forced delisting."
That would be troublesome.
No matter how much we were eyeing the company at a bargain price, if it got delisted, the drawbacks would far outweigh the benefits.
"Since the stock price keeps falling, we've received word from the Saudi side that they intend to sell off all their shares below $1. Other institutions also seem eager to dump theirs as soon as possible."
AMC was a company with a long history.
But now, it seemed acquiring its management rights wouldn't even cost tens of billions. The company was in such dire financial straits.
"There's also the debt tied to this company, and in terms of potential future growth, it's far too lacking compared to Nvidia. Even if the CEO here is competent and innovative, that might actually work as a risk factor."
"So, you're saying it'd be better not to acquire AMC?"
"Yes. The data suggests so. But how could I dare to lecture the Chairman on his investments? I'm merely presenting the available indicators."
I had enough sense to know that, no matter how cheap AMC's price was right now, jumping in would be suicidal.
It wasn't just about the acquisition—there was no way to predict how much additional investment would be needed afterward.
And yet, my instincts were vehemently pushing for AMC, not Nvidia.
Moreover, every time I looked at the profile picture of AMC's CEO, Lisa Wu, an absurdly radiant halo seemed to burst out behind her.
How could I possibly not invest in this?
So, despite my employees' concerns, I decided to follow my gut and proceed with the investment.
"What about the other agenda items?"
"Ah, yes. Our exchange is doing so well that we need additional server expansion. We thought investor sentiment would shrink due to the recent financial regulations, but instead, even more people are flocking in."
Bitcoin's growth was staggering.
After the Korean government imposed financial regulations, the Kimchi Premium had seemed to drop steadily—but then, as if it had never happened, it rebounded and was now attempting to break past its previous peak.
"..."
I carefully reviewed the documents sent by KW Exchange.
Server expansion, hiring more personnel, implementing new systems, UI convenience patches—everything was necessary.
As I was going through the agenda items one by one—
"...?"
Something caught my eye.
[New Security System Implementation & Update]
At first, it was just tinged with red, but before long, a shape resembling devil's horns seemed to rise from the text.
Startled, I quickly flipped to the next page to examine the details.
"..."
The content was extremely complex and lengthy.
"I don't think you need to worry too much about that agenda item. It seems more like a precautionary measure, but rebuilding the security system is costlier and more complicated than expected."
Since I was an amateur in this field, I couldn't fully grasp what the report was saying.
"Put everything else on hold. Prioritize this security update first."
"Huh? Ah—yes, sir."
But one thing was certain—this security update was necessary.
If it could produce such an eerie image, then it had to be.
＊＊＊
Nvidia's counterattack was fierce.
As expected of a dinosaur that dominates the graphics market—or so it seemed.
I was starting to think that Kangsung Chairman might end up wasting both money and time at this rate.
Especially with the intervention of Rusk, the world's second-largest logistics company, which was now helping TSNC stage a miraculous recovery.
At this pace, it felt like we'd end up with neither the stick nor the rice cake.
But as they say—Heaven helps those who help themselves, long live our nation.
"What's the damage? Are we affected too?"
"Fortunately, Kangsung is fine. This ransomware attack is mainly targeting Europe. A few of our employees' computers got hit, but it's not disruptive enough to affect operations."
Last night.
A massive cyberattack struck over 3 million computers across more than 150 countries.
The infamous WannaCry ransomware.
Once infected, all files on the computer became inaccessible, and unless you sent the hackers $1,000 worth of Bitcoin, the lock wouldn't be lifted.
As a result, companies infected with the WannaCry ransomware were hit one after another, leading to leaks of confidential corporate files or complete system failures that paralyzed their operations.
"Reports of damage keep pouring in from various countries—the UK, Spain, Germany, Russia, China, Denmark, and more. Hackers are also spreading infected files downloaded from the internet, further amplifying the damage."
"Warn all employees to exercise extreme caution. Double- and triple-check every file they handle."
"Understood. We've already issued an emergency notice. But Chairman, there's an interesting rumor circulating right now."
A massive cyberterror attack was unfolding.
What could possibly be interesting in such a situation?
"Currently, the UK and Denmark are taking the hardest hits, but there's one place where the ransomware has completely infected their systems, bringing all operations to a halt."
"Where?"
"Rusk."
"Wait. Rusk? You mean that Rusk I'm thinking of?"
"Yes. The very same Rusk that partnered with Nvidia to push out Kangsung and Gwangun. Their entire system is paralyzed right now—they can't even handle shipments."
"!?"
Could this be sheer luck?
Rusk had already been a problem, but now some anonymous hackers had effectively done Kangsung a favor.
"But Chairman, the timing is rather uncanny, don't you think? Just as Rusk was about to assist TSNC in launching a major shipping operation, this massive cyberattack strikes."
"...What exactly are you implying?"
"Due to recent events, stocks related to graphics and semiconductors have plummeted. And right at that moment, Gwangun reportedly bought up a massive amount of AMC shares."
"AMC? The company rumored to be delisted?"
"Yes. And yet, they've secured management control over it."
Kangsung hadn't orchestrated this to antagonize Nvidia.
The plan was to dismantle TSNC and then absorb its clientele.
But now, just as tensions with Nvidia were already uncomfortable, Gwangun had acquired their competitor, AMC.
"On top of that, under President Jeong Jin-ho's direction, Gwangun even opened a Bitcoin exchange. Thanks to that, Korea's Bitcoin craze has surged like never before."
Jeong Jin-ho had opened a large-scale Bitcoin exchange—something previously difficult for Koreans to access—and capitalized on the trend.
"That's why the semiconductor and graphics card markets are booming. And now, Kangsung has to build a new semiconductor factory to keep up."
The establishment of a semiconductor factory was also in line with the current administration's agenda.
They had designated Giheung and Hwaseong as industrial belts, planning to build industrial complexes there.
That was why Dongtan had been selected as a new city and was now undergoing massive development.
"But do you know who owns the land we've been eyeing?"
"...Don't tell me—"
"Exactly as you suspect—President Jeong Jin-ho. He's been buying up all the key plots since early last year."
"Hah."
How the hell did he know to buy that land in advance?
Even Chairman Kangsung had only learned about the industrial belt plans recently through government discussions.
"What does he plan to do with that land?"
"At first, we thought he bought it for other purposes, but after seeing the AMC acquisition, it's clear. President Jeong Jin-ho likely intends to partner with Kangsung—leveraging our technology and workforce—to restructure the graphics market through AMC. If he builds a factory on that land, he'll easily receive Kangsung's support."
If Jeong Jin-ho invested heavily in AMC and positioned himself as Kangsung's client, Chairman Kangsung would have no reason to refuse.
After all, the two companies didn't compete in overlapping sectors.
And if he had bought the land that far in advance, he must have been planning this for a long time.
"Just like with this ransomware crisis and the AMC acquisition—even back when he blocked the sea routes to choke TSNC, we thought he was just helping Kangsung. But in reality... President Jeong Jin-ho had a different goal all along."
Only then did the pieces finally click together in Chairman Kangsung's mind.
Jeong Jin-ho's target was never TSNC.
That was just a minor stepping stone.
The real prize—the head he intended to sever—was waiting across the ocean.
"He was aiming for Nvidia from the very beginning!"