Chapter 115: Holding It In Makes You Sick
Chapter 115: Holding It In Makes You Sick
While Kim Shin was on vacation, Earth Resource was moving at a frantic pace.
“We will form a department store acquisition team. Look into the negotiation terms with the creditors.”
The shopping mall division began the process of acquiring and merging with a department store chain in California.
The banks were receptive to Earth Resource's acquisition proposal.
“We will accept the acquisition offer. However, we believe negotiations are necessary regarding the 2.3 billion dollar sale price you proposed.”
“Negotiations? MK Department Store has been delisted due to accumulated deficits. And it doesn't seem like any other company is willing to acquire its business rights to normalize operations.”
Allison, the head of the shopping mall division, had a background in department stores.
She knew everything about the business and understood the current situation better than anyone.
‘That department store will be difficult to turn around, no matter who takes it. It's only because we're Earth Resource that we can even attempt this.’
Allison unleashed the stress and pressure she’d accumulated working at Earth Resource onto the creditors.
“We have plenty of other potential acquisitions besides MK Department Store. We have the upper hand wherever we go. If you don't accept the price we’re offering now, this conversation is over.”
“Please give us some time to go back to our company and think it over.”
“I’ll give you one day. A day is a long time at Earth Resource. I'm letting you know that there will be no further negotiations after tomorrow.”
The creditor banks quickly came to a consensus within a day and gave their final acceptance the next.
“Very well. We will sell the department store business to Earth Resource. However, would you consider leaving some of the department store’s shares with us, or perhaps taking out a loan for operating funds?”
The banks’ attitudes toward failing companies and blue-chip companies were starkly different.
Earth Resource had very few corporate bonds issued relative to its asset size and was an ultra-prime company reaping enormous profits.
They wanted to retain at least a small stake in preparation for when the department store business was turned around.
“We refuse.”
“...This proposal too?”
“Yes. We will acquire all the shares owned by the creditors. However, we will consider the loan for operating funds favorably.”
Allison maintained a firm stance, pressing the creditors.
Her attitude was clear: take it or leave it, and the negotiations would be off.
From the creditors' perspective, it was an opportunity to resolve the issues of bad debt, useless department store shares, and the even bigger headache of the employees all at once.
By taking out a 2-billion-dollar loan while acquiring the department store, the actual amount invested was only 300 million dollars.
* * *
Diane was on the verge of screaming.
“We gained 8 million subscribers today.”
“What on earth is Netflix doing? Are they just going to keep losing market share?”
The number of Earth Channel users was skyrocketing.
Related tasks were already suffocatingly busy, and now another mission had been added.
“The Vice President says to prepare for the launch of Channel 7.”
“Already? Is he insane?!”
Upon hearing the news, the employees wanted to run over and grab Oh Myeong-woo by the collar.
“It’s an order from the CEO.”
“Ah...”
“If it’s what the CEO wants, then there’s nothing we can do.”
Diane accepted it, and the employees gave up on their riotous intentions.
Kim Shin had designed the core of every business venture Earth Resource had undertaken, and every single one had been a success.
In Silicon Valley, and indeed across the United States, Kim Shin was regarded as a brilliant executive.
He was the founder, and unlike other American companies, he wasn't swayed by investors.
“Channel 7, can we really launch it?”
“It’s possible. I’m not sure how successful it will be, though.”
“One thing is certain. Our workload is about to increase horrifically.”
* * *
Oh Myeong-woo had been in charge of Earth Resource for over two weeks. During that time, he had handled various tasks decisively.
“We are strengthening the in-game disciplinary regulations. If they repeatedly insult other players’ parents two or three times, ban every last one of them. The same goes for cheaters or those who intentionally throw games.”
A merciless purge of toxic users!
Since he had Kim Shin's permission, there was no need to hesitate.
‘I was a fool. To think I was about to abandon my pride as a gamer and show such weakness, all for the sake of money.’
How passive he had been before contacting Kim Shin.
He had simply stood by and watched things that should never have been tolerated, all for the sake of increasing users and making money.
He decided to strictly apply the toxic user policy to all games distributed on Earth Channel.
Due to the remote work system, all the team leaders attended a video conference.
The customer service team leader spoke up.
“Vice President, the sentiment in the Chinese community is not good. There’s significant backlash against Earth Channel for indiscriminately shutting down accounts.”
“Ignore it.”
“But if this continues...”
“I need to make this perfectly clear to all of you. My friend, Kim Shin, didn't start the Earth Channel business to make money. Until the beginning of this year, he had no intention of even founding a company called Earth Resource.”
Oh Myeong-woo spoke with an excited tone, like someone who had just seen the ending of a game he couldn't beat for a year.
“He founded Earth Resource to develop a vaccine and a cure after seeing so many people suffering from COVID-19. And why did Kim Shin create Earth Channel? He founded this company to bring joy to people all over the world who were bored and lonely due to social distancing.”
“Ah...”
“Earth Channel is a business meant to provide people with enjoyment and fun. Don’t get hung up on money or user numbers. We must not tarnish Kim Shin's vision.”
“Yes. Understood.”
The team leaders at Earth Resource couldn't hide their surprised expressions.
A company's purpose is to pursue profit.
They had to make money, but they also had a higher purpose.
Accounts from Asian countries where gaming was taken very seriously were suspended for over a week, or in some cases, even terminated.
The termination of over 500,000 accounts caused a storm, but Earth Channel's stance remained firm.
“We will not stop in our quest to discover more fun games!”
In Kim Shin's name, Oh Myeong-woo announced a 5-billion-dollar plan to acquire smaller game companies and, in the same breath, a fee waiver for users with low monthly playtime.
“The CEO is amazing, even while he’s on vacation.”
“He must be spending his time planning new business ventures.”
* * *
Perhaps you could call it the sweetness of Laguna Beach.
―Soo-ah: Have you eaten?
―Kim Shin: Yeah. I made some kimchi fried rice.
He and Jo Soo-ah were texting every morning and evening.
Considering the time difference with Korea, he always had to keep the time in Seoul in the back of his mind.
‘This really feels like I’m dating.’
It felt as if the seal he had placed on his heart had been completely broken.
It was just frequent texting, but it gave him a warm feeling.
―Kim Shin: Were you a model student in high school?
―Soo-ah: Yes. My life was just home and school.
―Kim Shin: Didn't you have any hobbies?
―Soo-ah: I liked playing musical instruments.
They chatted about trivial things.
Jo Soo-ah said she had never had a boyfriend.
Other than Han Chae-won, I've never really been in a proper relationship either.
Things with Han Chae-won had moved so quickly that their dating period hadn't even been that long.
‘We slept together on our second date. Talk of marriage came up just a few months later.’
Because he and Soo-ah weren't physically close, they could talk more.
The scenery of the beach, signing an autograph at a hamburger joint—everything became a topic of conversation.
‘When I was working, texting often felt like a chore, but I've been texting with Soo-ah for over an hour.’
He wanted to walk with Jo Soo-ah along the beautiful, peaceful shores of Laguna Beach.
San Francisco, various countries.
How wonderful would it be to travel with Soo-ah to places with stunning scenery or a great atmosphere?
After thinking about it for a long time, he finally sent a text.
―Kim Shin: I want to show you what Laguna Beach looks like in person.
―Kim Shin: If you get the chance later, would you like to visit?
―Soo-ah: I’d love that.
* * *
He wrapped up his time in Laguna Beach and headed to Los Angeles Airport.
It felt like he was going on a trip for the first time in a long while.
“They say the flight to Washington takes about five hours.”
“Mm, okay.”
He was on his way to Washington to meet the U.S. President-elect.
Since there were plenty of empty seats, he booked a commercial flight for himself and his 30 bodyguards.
It was a large number for personal bodyguards, but you never knew what might happen.
He went to the airline desk with his passport.
“Kim Shin? I saw the name and thought, ‘could it be?’, but it's really you. Thank you for flying with our airline. When I get home, I'll have something to brag about to my family.”
“Thank you for your kind words.”
At the airline desk, he signed autographs at the employees' request.
Ever since launching Earth Channel, he truly felt like a celebrity.
‘My name must have spread even more while I was away from San Francisco.’
As he went through the check-in process, a female airport employee recognized him and handled everything swiftly.
He went to the gate with Lee Jong-yeop and the bodyguards and boarded the plane.
He was in first class, so he could have just relaxed, but...
Lee Jong-yeop handed him a thick file.
“Here’s the material for this meeting. It seems to be a gathering where the President-elect meets with corporate executives and Wall Street titans to hear about the economic situation.”
“You prepared this too?”
“I thought it would be good for you to reference.”
He read through the booklet, scanning the résumés of the famous people participating in the meeting.
People with brilliant careers.
Heads of major banks, economics professors from prestigious universities, figures from Wall Street.
If you searched their names, you’d find they had appeared in countless news stories and broadcast interviews.
“You can think of it as a forum for the President-elect to receive economic advice before his inauguration. Since there are so many people attending, just being present should be enough, don't you think?”
“I suppose so.”
In the end, there would be articles about how the President-elect met with various people.
Several TV networks were apparently scheduled to broadcast it live.
“Even if you happen to get a chance to speak, wouldn't it be enough to just offer a few words of praise to the President-elect?”
“Praising someone? Well, that’s something I’m used to.”
My whole life, I've survived by catering to the moods of customers as a part-timer and a salesman. Attending a meeting and saying a few things the U.S. President-elect would like to hear should be a piece of cake.
I figured it would be a more productive use of my time than that three-day trip I was dragged on to fish off a breakwater on a southern island during a golden holiday.
‘Let's not get servile just because I'm meeting the U.S. President-elect. Considering his age, a handshake might be too much. A simple nod of the head should be enough, right?’
Not arrogant, but with a moderate amount of composure.
I was no longer in a position where I had to grovel and scrape.
‘It’s no big deal. As long as I show up and don’t cause any trouble, it’ll be fine. Right.’
And so, he attended the economic conference.
Two days later, I was on my feet, speaking loudly to the President-elect and the titans of the American financial world.
“I believe everyone needs to wake up. No one here has the right to be complacent. If you all make an irreversible mistake, it will be the people who bear the full brunt of the consequences.”