Chapter 150: Won't Buy It
Chapter 150: Won't Buy It
The next day, Korean news outlets were flooded with articles.
[Hangul admits to acquisition talks]
[Hangul key executive: "We received direct contact from Kim Shin's side."]
[How will Kim Shin fund the acquisition? Estimated cash reserves exceed $140 billion]
[Hangul hits upper circuit limit for three days straight.]
[Will Hangul, a homegrown S/W firm, go global?]
It felt like I was right in the center of media and public attention from every angle.
- Kim Sang-gi: We've halted acquisition talks with Hangul and cut off contact.
- Kim Sang-gi: They're getting desperate, reaching out first and talking up to 500 billion won now.
- Kim Shin: 500 billion is still ridiculous.
- Kim Sang-gi: They see it differently. They say if you acquire it, the stock will go up tenfold, so considering your track record running companies, can't you give them double what they've contributed so far?
- Kim Shin: That doesn't make sense. Just wait for now.
- Kim Sang-gi: OK, got it.
Meanwhile, Isung Group was negotiating detailed contract terms for Earth Resource's operations team and the Earth Phone with their legal team reviewing everything.
"There are no legal issues with transferring Hunminjeongeum and Bada."
"Then let's proceed so we can sign while I'm in the U.S."
At the chairman's word, Isung SDS's affiliate sprang into action.
"Mr. Han, you'll be working in the power grid management software team from now on."
"Me?"
"Who else? You only handled word processors—no security or network design experience. You know nothing about this field."
Han Jeong-sik had joined Isung SDS in 2002 and worked solely on developing and maintaining Hunminjeongeum ever since.
He knew nothing about word processors or office programs, but he gave his all to the job assigned to him.
After the Hunminjeongeum team disbanded last year, he'd been bounced from three-month to six-month projects around the company as needed.
"Damn. Should I quit Isung and open a chicken joint?"
"You too, Team Leader?"
"Why? You thinking of starting one, Gil-seop?"
"We hang in there till we can't, then go entrepreneurial. Isn't that the endgame for programmers like us?"
"It's weird how Korea has so many chicken places because of IT."
"That's why we're a chicken delivery powerhouse."
"Heh heh."
He met up with his old Hunminjeongeum teammates, knocking back soju shots and sharing bitter laughs.
Since the team dissolved, he'd been a company drifter.
He'd run into fellow Hunminjeongeum staffers while shuffling through low-revenue, high-workload projects.
"What's the hot chicken these days?"
"Trends change so fast. Franchises are the safe bet, right?"
"You worked at Isung—you know big corps aren't stable. It's hell everywhere."
They joked about starting chicken shops, but he actually pondered what chickens were popular lately.
He studied frying techniques on Earth Channel and scoped out neighborhoods while drinking beer at local pubs, thinking of the future.
'Earth Channel's insane. Great picture quality, and the content's exploding.'
In IT circles, Earth Channel was always the hot topic, no matter where you went.
Content ballooned weekly.
He envied how it piled up with endless videos and info.
'Back in my day, Isung SDS was king. There was a venture boom, but it fizzled fast. Now U.S. giants like this are untouchable powerhouses.'
Under company orders, he started from scratch in the power grid software team.
He gritted his teeth through the drudgery for his family at home, planning to tough it out at Isung another year or two.
"Mr. Han, here's your transfer consent form. Read it and sign."
"Yes?"
After lunch, HR from SDS called him in urgently.
When he arrived, his Hunminjeongeum development team members were filing in one by one.
They told Han Jeong-sik to sign the transfer form first.
"What's this?"
"Exactly what it says: a transfer consent form. You've worked hard at Isung, so we'll give you a generous severance."
"No, what the h—"
Rage boiled up from deep in Han Jeong-sik's chest.
He'd slaved away 19 years in a field he never wanted.
He knew big companies were ruthless, but to be discarded like this after giving his youth to the firm?
"Is this how Isung operates? Isn't this illegal?"
He wasn't planning a lawsuit, but he had to vent somehow.
Images of his family flickered by—parents, wife, kids—as the breadwinner.
"You're dumping us at other companies and firing us?"
"Using us like dogs and tossing us out like this...!"
As the development team erupted in protest,
The HR manager smiled and said,
"Now, now, calm down. Read the transfer form before getting mad. Check where you're going."
"But even if—"
Han Jeong-sik reined in his anger.
He still clung to lingering attachments to company life and hopes for stable employment.
If it was Mirae or another big affiliate, it might not be the worst, he thought, and checked.
[Earth Resource]
'A world-famous company like Earth Resource has a Korean branch?'
Han Jeong-sik asked,
"What's Earth Resource do?"
"You don't know?"
"Huh?"
"You work in IT and don't know Earth Resource?
You know Earth Channel, right?"
"The Earth Resource that makes Earth Channel?"
"Yes. Kim Shin's Earth Resource. The Hunminjeongeum team's being reformed and transferring there."
A thrilling shiver hit him then.
Adrenaline surged from fingertips to toes to scalp.
The form detailed Earth Resource forming an office development team, and they'd transfer there.
Starting tomorrow, commute to Gwangmyeong, use empty Biolife offices temporarily—no big deal.
Salary and conditions based on San Francisco HQ: a massive raise.
"Really? For real?"
"Yes. You can stay at Isung Group if you want. No pressure."
"Ah. Thank you for raising me all these years."
Han Jeong-sik signed fast, afraid someone might stop him.
Isung Group moved lightning-quick.
The next day, after all procedures, he signed contracts with Seon Jae-yong.
The first agreement covered the Earth Phone.
The second transferred the rights to Hunminjeongeum.
The third transferred the rights to the mobile operating system.
"Please take good care of Hunminjeongeum and Bada—software Isung Group couldn't nurture."
"Yes. Thank you."
"By the way, the entire development team chose to transfer from Isung Group. Earth Resource's name carries weight."
"Coming from Isung, we'll treat them extra special."
Seon Jae-yong, the vice chairman, and Isung execs had no time for a meal.
Right after signing, they headed to the airport for a Texas flight.
They were building a semiconductor plant in the U.S., with a meeting scheduled with the Texas governor at one of the planned sites.
'Earning big money's great, but living that hectic must suck.'
After Isung folks left, I told Lee Jong-yeop,
"You know Korean reporters?"
"Yes. I keep in touch with some regularly."
Earth Resource got hundreds of inquiries daily from Korean media.
Reporters from the press conference were holed up nearby in hotels.
"Release the press statement in three hours."
"Yes, sir."
Fighting someone was scary.
Unnecessarily clashing wasn't right. But if they tried to exploit me, take me for a fool.
If I shrugged off the damage, it'd just repeat.
It was time to fight for Dream Art Rainbow, Earth Resource, and everyone who worked for them.
For the companies and staff I owned, time to throw down.
- Eddie: Data from Isung just came in.
- Kim Shin: Already?
- Eddie: They work fast. Haven't checked Word yet. Looking at Bada OS—looks like a lot of effort from a big team.
- Kim Shin: Helpful?
- Eddie: Definitely. Will help a ton.
OS dev for Pangea Live.
Referencing a finished OS would make it way easier, no doubt.
'Isung handed over a huge gift.'
Honestly, even without Bada OS for free, I'd have kept negotiating.
- Gazuaaaaa!
- All in!
- Sold Tesla, going Hangul.
- 500 mil shares piled at upper limit ㄷㄷㄷㄷ
- Everyone just queuing buys at limit, no trades lol
- Hangul shareholders are loving it.
- Thought we'd be stuck forever, hope for this trash stock!
After the COVID-19 pandemic began, Korea's stock market was driven largely by retail investors.
Donghak, Seohak ant armies swarmed, pumping every stock they bought.
The retail investors were outperforming both foreign and institutional investors.
- Kim Shin hyung turning eyes to Korean stocks, who knew.
- Following you in.
- Acquisition means 30x for real.
- Patriot Kim Shin hyung.
Hangul was the hot topic in Donghak ant communities.
[Hangul, forced global push after Earth Resource acquisition?]
[Hangul pre-installed on Earth Channel?]
[Top global software firms eyeing Hangul]
[Hangul acquisition price of 600 billion too low]
[Stock expert Lee Hye-jin: "Considering software industry traits, Hangul has 30x upside potential."]
Articles kept dropping, revving investors' hope engines. But things didn't go their way.
- Ah, is this just pie in the sky?
- Sold my house, but can't buy shares.
- Loan approved, anyone snag Hangul stock?
- Nope. All jammed at upper limit, how?
- Too popular.
Trades need sellers, but only buyers piling up.
- Check Goldman or Morgan Stanley order sizes lol
- They're the ones hyped on Korean stocks now.
- Kim Shin superfan among foreign investors. Guaranteed.
- Wall Street legend.
Regretful, but all watched how long Hangul's run would last.
Then...
[Breaking! Earth Resource: "We will not acquire Hangul."]
- What the hell?
- Scoop.
- Fr? Misreport and the paper shuts down, right?
Minutes later, more articles flooded.
[Earth Resource: "We considered it, true. But decided against after inquiry."]
[Earth Resource withdraws Hangul acquisition intent]
[Kim Shin personally cancels Hangul acquisition]
As articles poured from Kim Shin's side denying the deal, Hangul stock plunged to lower limit.
- What happened.
- Kim Shin hyung says no acquisition?
- Hype crashed the market?
- Hangul holders had a sweet dream for a sec.
Then came the devastating follow-up articles.
[Kim Shin meets directly with Isung VP Seon Jae-yong. Secures Hunminjeongeum transfer.]
[Earth Resource acquires rights to Hunminjeongeum software]
[Isung hands Hunminjeongeum for free. Staff transfer to Earth Resource too.]
End of Won't Buy It