Chapter 118: Harvest
Chapter 118: Harvest
After causing a scene by confronting President-elect Biden, I didn't head straight to San Francisco.
I stayed at a luxury hotel in New York, keeping a low profile to avoid the media.
*'I have no intention of being hostile or picking a fight.'*
It was a subtle signal to President-elect Biden and his team.
That's just how politics works, isn't it?
They'd figure out my thoughts and attitude, and then decide on their own stance.
*(I just said what I thought at the time. I didn't mean to make things difficult. The President-elect even said it was fine, right?)*
That was the impression I wanted to give.
Though there was nothing I could do if they didn't take it that way.
Biden had a packed schedule almost every day, and reporters peppered him with questions related to me.
I watched it all unfold on the hotel television.
“What do I think of Kim Shin? He is an exceptionally competent individual. A genius of our time. As a businessman and an investor. I believe he can do a great deal for the United States.”
If I were to interpret it in my own way...
*(Kim Shin. You're a very capable guy. A smart one, too. Behave yourself. I'll be watching.)*
It felt something like that.
In an interview with another reporter, the President-elect said:
“I’ve subscribed to Earth Channel myself. I enjoy watching it with a beer late at night. My son and granddaughters are big fans as well. I hope to see more great content from them.”
I interpreted this in my own way, too.
*(I see you've started a new business. Why don't you focus on that?)*
It wasn't exactly a professional analysis, but it was my own political interpretation.
From what I observed while staying at the hotel for a few days, it seemed they had no intention of escalating the fight either.
*'I have no reason to fight the US administration either. There's nothing to gain from it.'*
It wasn't like there were any significant interests at stake.
Why would I pick a fight with a man who would soon be in the White House?
―Kim Shin: Is everything okay at the company?
―Oh Myeong-woo: Of course. Don't worry about it.
I had been worried that my little stunt might have put a burden on Earth Resource or Oh Myeong-woo.
―Oh Myeong-woo: If things get rough, we can just fold the US business and move to Korea or Europe! The scope of Earth Resource's business isn't limited to the US, you know.
―Kim Shin: ...
I'd said something similar to the South Korean Minister of Health and Welfare once. The saying "birds of a feather flock together" was spot on.
―Kim Shin: I have no intention of getting into an extreme confrontation with the next administration.
―Kim Shin: But as a businessman, I think I need to lie low for a bit. I'm not going to San Francisco for a while.
―Oh Myeong-woo: That's a good idea.
―Oh Myeong-woo: In Korea, even when people get a DUI, they all take a period of self-reflection.
* * *
The South Korean Ministry of Health and Welfare was in a state of panic.
<Coronavirus Pandemic, What About Vaccine Procurement?>
<Government Must Go All-Out to Secure COVID-19 Vaccines>
<Negotiations Underway for 4 Final-Phase COVID Vaccines, K-Vaccine Excluded>
<Why Can't We Buy the K-Vaccine Made in Korea?>
The COVID-19 pandemic had hit hard, with daily cases surpassing 1,000.
Economic activity in major cities, including Seoul and the Gyeonggi area, had largely come to a halt, and factories were shutting down.
The media was relentlessly publishing articles questioning why the vaccines being administered in the US and Europe were so hard to find in Korea.
Politicians from both sides of the aisle were lambasting the government, and the pressure from the Blue House was immense.
“Damn it. Can't we get the K-Vaccine?”
“They said all vaccine sales are booked until early next year.”
“Tell them to give us some anyway!”
“Biolife says it's difficult because their contracts are with other national governments.”
The K-Vaccine's antibody efficacy had been proven, but its entire production volume had been reserved long ago.
Since the deals were with powerful nations like the US and European countries, it was impossible to forcibly reallocate their supplies.
“Those bastards...”
Shin Won-tae, the Minister of Health and Welfare, ground his teeth.
Recalling his phone call with Kim Shin, he wondered if this was his way of screwing him over.
*'He's still a Korean, at the end of the day. Is he really going to ignore a national crisis? Isn't he afraid of public opinion?'*
He planned to pressure him into securing the vaccines somehow.
He leaked some story ideas to a few online news outlets.
<Blinded by Money, K-Vaccine Sold Only to Developed Nations>
<K-Vaccine Unavailable to the Korean Government>
Although the decision not to purchase the K-Vaccine at the time had been made by the Korean Ministry of Health and Welfare, he slightly twisted the process and the outcome to make the stories more provocative.
Biolife was a Korean company.
Isung Biologics and DK Bioscience were also Korean corporations.
Since major media outlets wouldn't run such stories for fear of angering the large conglomerates, he had struck a deal with online media companies.
Politically cornered, Minister Shin Won-tae was in a position where he had to do something, anything.
It was then that he saw Kim Shin on the morning news.
He was standing before President-elect Biden, holding a microphone and speaking his mind with confidence.
“I think everyone needs to wake up. No one has the right to be complacent. If you make an irreversible mistake, it is the people who will bear the full brunt of the consequences.”
Shin Won-tae's jaw dropped.
“Is... is... is that bastard crazy?”
He could understand him taking a hard line with him, the Minister of Health and Welfare.
In the common parlance of politicians, Kim Shin was the richest man since the founding of the nation. Considering his partnerships with major corporations and his production of the K-Vaccine, he was a difficult opponent for a minister to take on.
But to spew such harsh criticism right in the face of the man who would soon be in the White House?
*'I completely misjudged him.'*
Back then, the vaccine was only in its second clinical trial phase, so he had underestimated him.
As the head of a policy-making authority, wielding absolute power in the field of health and welfare, he had always considered himself to be in the superior position.
In Korea, no conglomerate chairman would ever stand up to a member of the National Assembly or a government minister.
Who could have known that in just a few months, he would amass such an enormous fortune and wield the influence to sell a vaccine to the entire world?
*'If I'd known he was the kind of madman who'd even talk back to the US President-elect, I would have been more careful.'*
With the success of Earth Channel, Kim Shin was now dominating the broadcasting market as well.
The influence he held over Korean retail investors buying foreign stocks.
Considering his power that encompassed both the middle and working classes, Kim Shin was an absolute powerhouse in the Republic of Korea.
“We’re ready to release the article about Kim Shin.”
It was a call from the online newspaper.
“Put it on hold. No, scrap all the articles you have.”
“What? But if we break the news about Kim Shin now, we’ll get the public’s full attention.”
So clueless. No wonder they were a third-rate online rag.
“Don't be stupid. Do you want your newspaper to go under just to get a few more clicks?”
* * *
―Vice President Jeong Beom-tae: Content production for Earth Channel is proceeding smoothly. You remember what you mentioned last time, sir?
―Vice President Jeong Beom-tae: The reality show where contestants survive each round through games.
―Vice President Jeong Beom-tae: Production has begun with the PD who recently transferred to our company. The prize money is 3 billion won, so a lot of celebrities are applying to participate.
Perhaps because I'd caused a stir, I received a lot of messages.
Vice President Jeong Beom-tae frequently sent me updates from Korea.
Even if I didn't check my messages, he'd share good news.
*'A new variety show, huh? Sounds fun.'*
There used to be a show on TV that took on a new challenge every Saturday.
That show, hosted by a regular cast.
I just enjoyed watching it when it was popular, but looking back, it was a part of my memories of my twenties.
*'With the pandemic, I want to bring people even more joy.'*
I decided to gather the members from that old show and invest thirty times the original production budget.
I wasn't sure if it would be profitable since it would air on Earth Channel, but as long as it created some fun, that was enough.
An OTT service needed a vast library of content, but our service had the unique feature of a low $5 subscription fee.
It had been proven that as long as there were one or two must-see regular programs, subscribers wouldn't leave.
―Senior Managing Director An Myeong-guk: Many new drug development projects are underway at Biolife.
―Senior Managing Director An Myeong-guk: As you instructed, we are not sparing any expense.
―Senior Managing Director An Myeong-guk: I've got everything running smoothly here. I've also hired some sharp junior staff. I'm ready to come to the US whenever you need me.
An Myeong-guk, who had been my boss since my days at Arcor.
He was messaging me more often than usual, showing his concern.
―Jin Yoo-kyung: That’s it! That's how a man should be!
―Jin Yoo-kyung: You told him off good. So satisfying!
I read Jin Yoo-kyung's message and ignored it.
<Bond King Warns of Potential for Inflation Not Seen in 30 Years>
<Stock Market Bubble and Inflation: A Debate of Titans Sparked by Kim Shin's Remarks>
<Nobel Laureate Paul Krugman: "A Lucky Investor Is Just an Idiot Who Doesn't Understand Economics. Inflation Will Not Happen in the Modern Era.">
A lively debate over Biden's stimulus package and inflation was unfolding in the US.
“We’ve received an invitation from Fox News for a television show. It’s a debate on the Biden stimulus plan.”
“Decline it. And make it a hard no, without leaving any room for negotiation.”
I had no intention of participating in such a debate.
Putting aside the confrontation with the Biden administration, the thought of arguing with world-renowned scholars was exhausting just to imagine.
I had graduated from college, but if I debated tenured professors from prestigious universities, my ignorance would be exposed in no time.
I didn't fully trust economic analysis, but to say I sensed a bubble based on a gut feeling...
*'If I said I sensed a human indicator by watching the people at the economic advisory meeting and the investors, I'd be completely dismissed.'*
Why would I participate when I knew it would just create a cringe-worthy moment for the history books?
“Jong-yeop.”
“Yes, boss.”
“I need to sell the stocks.”
The stocks I held had risen about tenfold, making their value and volume enormous.
One of the reasons I had come to New York was to see if there were any institutional investors willing to buy them in a block deal.
“So you really see it as a bubble and are taking action.”
“Yeah. I don't think we've hit the peak yet. It might go up more if I hold on, but I should sell while there's still room for the stock price to rise. I also need to liquidate the call options I've been buying periodically from JPMorgan.”
The volume was so large that if I sold during a downturn, I could shake the entire stock market.
Perhaps because I was in frequent contact with Jo Soo-ah, meeting Ellie felt like a burden.
That was why I was staying at a hotel in New York instead of her place.
<Kim Shin Reportedly Staying at The St. Regis New York>
I couldn't just order room service for every meal, and as soon as I ate at a restaurant, an article was published.
*'Reporters are everywhere.'*
Even though the news of my stay in New York was out, I didn't hear from Ellie.
You could say we had a relationship where we didn't lean on or burden each other.
“Jeffrey Gundlach from DoubleLine Capital.”
“Kim Shin. I hear you're interested in Etsy?”
“Yes. We have a high valuation of that company's vision.”
An e-commerce company for handmade goods.
The company's stock, which was once $30 a share, was now at $300.
It was an insane price, but investors from all over the world were buying shares to make even more money.
“It's an honor to meet you, Mr. Kim.”
“The pleasure is all mine.”
The New York State Common Retirement Fund.
I met with them and sold my Peloton shares for one billion dollars.
We had a cup of coffee, made some light conversation, and then signed the documents brought out by the lawyers to finalize the deal.
*'One billion dollars feels relatively small.'*
It was over a trillion won.
An ultra-large container ship capable of carrying more than 20,000 containers at once cost a little over 170 billion won.
It required mountains of materials and armies of workers to build.
But in New York, deals worth billions of dollars were being closed with just a simple conversation.
<Tesla Stock Surpasses $850 per Share>
<Goldman Sachs Raises US Growth Forecast for Next Year to 6.4%>
<Don't Fight the Fed: Dow Continues to Rise as Inflation Fears Subside>
In many ways, it was a good environment for selling stocks.
The joy of buying shares of a good company at a low price and realizing the profits.
It felt like I was harvesting the stocks that had grown so well over the past year.
*'A self-reflection period like this isn't so bad.'*