Chapter 171: Back to Korea
Chapter 171: Back to Korea
Korea
In Korea, Kim Shin's articles captured everyone's attention.
〈Kim Shin, Drinking Beer with President Biden〉
〈President Biden Visiting Kim Shin's Mansion Every Week〉
―What is this? Our president has a hard time meeting the U.S. president even when visiting America.
―They're drinking beer at the same table like old friends.
―It looks kind of empty without some fried chicken.
―Chicken with beer is the national rule.
―No nogari?
―What's that?
―Dried anchovies, dried squid, half-dried squid.
―Sausages and french fries are good too.
―I'm a convenience store clerk, and beer sales are through the roof today.
―Is this K-proxy satisfaction?
〈Kim Shin Confirms $50 Billion Factory Investment in the U.S.〉
―$50 billion?
―LOL, check out the scale.
―Even with that investment, it's only about a third of Brother Kim Shin's fortune.
―It'd be great if he invested in Korea. Too bad. His nationality is Korean, after all.
―So overseas investors who invest in their home countries are betraying us by investing here?
―Not to that extent, just disappointed.
―Brother Kim Shin made most of his money in the U.S. He's doing business there, so it makes sense to invest there.
―But suddenly an electronics company? Am I the only one who finds that random?
―Me too. $50 billion aside, it's just bewildering.
―Is he planning to go all-in on LK smartphones?
While Kim Shin's meeting with Biden could be seen as a sign of their personal friendship, the $50 billion investment sparked divided opinions.
It was an astronomical sum, even compared to LK Electronics' smartphone division revenue before it shut down.
The White House stated they couldn't disclose internal company details.
〈Kim Shin Boards Flight to Korea Today〉
―Brother Kim Shin is coming to Korea.
―Let's give him a warm welcome.
―Gotta order chicken today for sure.
―Might be rice soup instead.
* * *
I arrived at San Francisco Airport an hour early to wait for the flight to Korea.
It had been a while since my last trip back, and I felt a thrill of excitement.
Tap tap!
―Jin Yoo-kyung: You're finally coming to Korea to see me.
―Kim Shin: ???
―Jin Yoo-kyung: Hehe, no need to hide it. I know everything.
―Kim Shin: I have a girlfriend.
Mirae Group's precious golden child.
Even after she'd announced early on that she had a boyfriend, her attitude hadn't changed.
―Jin Yoo-kyung: No man can resist after ten tries.
―Kim Shin: I'm different.
―Jin Yoo-kyung: If an axe doesn't work, I'll use a chainsaw!
Was it just me, or did that feel a bit chilling?
With my special forces bodyguards, I didn't need to worry, though.
―Kim Shin: Heading out soon.
―Jo Soo-ah: Be safe.
Jo Soo-ah's message felt warm.
After making a fortune, I realized that the affection from my poor days felt the purest.
And... I needed to contact one more person.
I called the doctor who had been relentlessly pursuing Jo Soo-ah.
―Yes, this is Director Choi Won-seok of Clear Skin Dermatology.
“This is Jo Soo-ah's boyfriend.”
―You? Yeah, we need to meet. When are you coming to Korea? You didn't miss your flight, did you?
“Coming soon.”
Choi Won-seok's gruff voice came through.
I didn't feel like chatting long with another guy on the phone. Probably the same for him.
“See you tomorrow. I know you're busy with patients at the clinic, but hop on the KTX in the evening and come to Seoul.”
―Ha... Who do you think you are? I'll get there my way. Just don't stand me up.
“No worries.”
The call ended.
Protecting a girlfriend was proving to be tough in this world.
* * *
Mirae Motors scrapped the business plan they'd set at the start of the year.
“How can we ramp up vehicle production more?”
“Toyota, GM, Volkswagen—they're all scrambling for semiconductors. Even offering premiums, it's hard to get them now.”
Chairman Jin Myeong-il clicked his tongue.
Running an automaker meant worrying about sales volume every year.
Profit or loss depended on factory utilization rates, and mass production was key for price competitiveness in this massive capital-intensive industry.
Who could've predicted that making the car everyone dreamed of would actually sell in droves?
“The U.S. investment is $50 billion?”
“Yes, Dad.”
Jin Myeong-il was talking with Jin Yoo-kyung in the group chairman's office.
He clearly wanted Kim Shin as a son-in-law. But he knew some things in life were unattainable.
He separated business from personal matters, yet still viewed knowing Kim Shin as a positive connection.
“Filling that investment with LK would be impossible. Is his Korea trip for corporate shopping?”
“Corporate shopping?”
“He could acquire a decent company. Aside from Isung or Mirae, how many firms could block a Kim Shin takeover?”
“Even conglomerates would struggle.”
“Excluding the top five groups, most are defenseless against hostile takeovers.”
That was why the business world was watching Kim Shin's visit warily.
LK Group, which had lost its prized semiconductor business in an IMF-era big deal, was extremely averse to sell-offs.
Selling the smartphone division, patents included, was seen in business circles as half voluntary, half forced.
Jin Yoo-kyung asked,
“Do you really think LK Chairman Gu Jin-mo was forced to hand over the smartphone division?”
“No idea. Even meeting him directly, I couldn't ask. The price was mutually satisfactory. But Chairman Gu probably didn't have many options after the offer.”
Jin Myeong-il imagined rejecting Kim Shin's proposal.
A hostile takeover of LK Electronics wouldn't be easy to fend off.
Excluding the owner's and affiliates' stakes, external shares—institutions, foreigners, small shareholders—would overwhelmingly support handing control to Kim Shin.
Aside from a few conglomerates with solid ownership, control could be seized more easily than expected.
With his ties to President Biden, even the Korean government couldn't easily intervene.
‘Last year, most businessmen saw him as just a lucky rich kid with money.’
At industry gatherings, he'd overhear criticisms calling him a fluke nouveau riche.
Now, after earning even more in the U.S. and succeeding in business after business, those same executives were watching Kim Shin's moves for their own survival.
“There might be businessmen pitching deals to him.”
“Deals?”
“Yeah, $50 billion investment. How many Korean execs wouldn't covet that? No way they'd think he could sink it all into LK smartphones.”
Mirae Motors Group decided to prepare for a meeting with Kim Shin too.
* * *
〈Elon Musk Acquires Twitter for $59 Billion〉
〈Musk: “Need to Cut Twitter Staff in Half.”〉
〈Kim Shin Announces $50 Billion Investment Plan; Elon Musk Buys Twitter. Who's the Real Winner?〉
On the first-class flight to Korea, I checked the news via Wi-Fi.
They say news gets more interesting with age—and stories about me kept popping up steadily.
‘He finally bought Twitter.’
The media framed Elon Musk and me as rivals, but our businesses didn't directly clash.
SNS might compete, but Twitter was so different from Earth Channel that it didn't bother me much.
―Kim Shin: Congrats on the Twitter acquisition.
I texted Elon Musk first.
We messaged a few times a week.
―Elon: Friend, thinking of joining the yacht party in LA?
Occasional invites to party.
Elon Musk worked non-stop but always carved out playtime.
―Elon: Tesla production in China is surging. No plans to buy more of my stock? Becoming Tesla's largest shareholder would be great.
The conversation kept veering into random investment pitches.
―Elon: Check out SpaceX. It's the company humanity truly needs for the future.
―Elon: Watched Earth Channel on a break. Recommend some fun dramas.
At other times, they exchanged all sorts of casual messages.
This time, the reply took over an hour.
―Elon: Haha, thanks. Planning a major overhaul for Twitter.
―Elon: Car industry will ultimately hinge on software too.
―Kim Shin: True.
Talking with Elon Musk still taught me a lot.
―Elon: Need massive cost cuts and independence from advertisers.
―Elon: Developing a $19.99 premium model.
But no one in the world had Elon Musk's stark strengths and weaknesses.
His strengths were worth emulating; his flaws taught what mistakes to avoid.
―Kim Shin: Will paid SNS work?
―Elon: Of course! So many individuals and companies promote via SNS.
―Elon: Earth SNS has no history. Twitter has loyal users. User-generated content isn't easily portable.
―Kim Shin: Yeah, true.
You couldn't persuade Elon Musk in conversation.
He believed he was always right—even if wrong, the world was.
‘He never bends.’
In many ways, Elon Musk was an excellent teacher about life and business.
‘Investing in Korea...’
After wrapping up with Elon, I leaned back in my first-class seat, lost in thought.
After striking it rich, with overseas trips and U.S. life, my time in Korea had shrunk.
Living there, I hadn't grasped the world's shape, but investing revealed its bright and dark sides.
‘Small land, most resources imported, tiny domestic market.’
Korea's global trends slap a 'K' on it.
None made big money domestically.
They had to conquer world markets to survive.
‘Many K-industries lack proper labor conditions.
The working hours were insanely long.’
One book said German workers toiled 47 hours like slaves in 1939—Koreans did that in the 21st century.
‘Housing prices sky-high, birth rates in freefall.’
Korea's low birth rate was unprecedented worldwide.
The number of births had fallen by forty percent in only six years.
Ten births became six.
Daycares, elementary, middle, high schools—all shrinking in tandem. The entire economy had to contract.
‘With no safety net, they hustle harder.’
* * *
Vice President An Myeong-guk and the advance security team greeted me first at Incheon Airport.
“Shin, long time no see.”
Gone were the outlet suits; since becoming Biolife's VP, his style had upgraded to luxury.
A Rolex gleamed on his wrist, the luxury watch icon.
“Vice President An, how'd you get into the airport?”
“They made allowances. This way.”
We used the VIP lane to exit the airport.
Dodging reporters, we boarded the waiting car and headed straight to my usual rice soup joint near Arcor.
“Auntie, one spicy blood sausage rice soup, please.”
I scooped the steaming blood sausage soup into my mouth.
It finally felt real—I was back in Korea.