Chapter 178: A Rolled-In Rice Cake
Chapter 178: A Rolled-In Rice Cake
Isung Group was busy for a full week.
"Prioritize this over everything else you're working on. Get the latest trends in the electric vehicle market and all the information on U.S. electric car companies."
At the command of Seon Jae-yong, the group chairman, the secretariat, management support office, and the U.S. branch were all mobilized.
"What's going on?"
"No idea. Does Isung Group still have regrets about the auto market?"
The employees harbored doubts but threw themselves into gathering data.
It was rare for Isung Group's entire organization to be mobilized like this.
For Seon Jae-yong, a single remark from Kim Shin had shaken him to the core.
"Putting wheels on a smartphone—that's an electric car."
Plans take on different meanings depending on who's pushing them.
If it had just been an internet comment, he would've laughed it off, but Kim Shin was building a business around those words.
"The auto industry is tempting for any entrepreneur if they can pull it off."
The previous chairman of Isung Group had been passionate about the auto sector.
A true enthusiast who disassembled and reassembled cars himself.
His son, Seon Jae-yong, had been heavily influenced by that.
'After World War II, no developing country except Korea succeeded in founding an auto company.'
Mirae Motors' founding had made Korea a key player in auto production.
Isung Group had envied Mirae Group, which led the national economy in construction, shipbuilding, and autos since the 1960s.
They eventually launched Isung Motors but suffered massive losses during the IMF crisis and bowed out.
That regret lingered for Seon Jae-yong.
"The Biden administration aims to raise electric vehicle sales to 50% by 2030."
"Rivian is currently dubbed the second Tesla and is preparing for vehicle production. Its market cap is $130 billion—four times that of GM or Mirae Motors."
"Lucid was founded by Bernard Tse, who worked on the Tesla Roadster design. He left after clashing with Elon Musk and aims to build premium sedans like the Mercedes S-Class."
"Lucid's market cap reaches $90 billion."
The more reports he received on the electric vehicle industry, the more his greed grew.
In the mid-1990s, they'd poured trillions into launching Isung Motors.
They built mass-production factories, formed tech partnerships, hired staff.
Now, 25 years later, in the U.S., just announcing an electric car generated tens of billions in market cap.
'What if CEO Kim Shin jumps into this sizzling market.'
Earth Resource's success last year would have been impossible without Source Coin.
They might have succeeded somehow, but not to this extent.
With the second coin boom, Earth Resource drew massive attention and benefits.
If Kim Shin entered the EV market alongside Earth Resource, the shock to the auto industry would be unimaginable.
'Without making a single car—or even revealing a model—they'd easily surpass $200 billion in market cap.'
The possible Korean partners included Mirae Motors, LK, and DK.
If these Korean firms actually built EV production capabilities?
The delays in vehicle development and production plaguing other EV makers wouldn't be an issue.
Just make a car that rolls, and they'd conquer the market.
It would be like turning a startup into a global automaker overnight.
'And while pushing this venture, he goes to a premiere to watch a movie...'
Kim Shin's boldness left him speechless. But he reconsidered Mirae Motors.
Hearing that an electric car was just wheels on a smartphone had sparked his interest.
Isung Group culture prized cash flow and profitability above all.
But from the perspective of a veteran automaker who'd built cars for decades, how would that sound?
Factoring in Mirae Group's stubborn, perseverance-driven culture...
'CEO Kim Shin's proposal might get rejected.'
Mirae Motors Group was likely to let that rolled-in rice cake slip away.
* * *
Mirae Motors Group's Chairman Jin Myeong-il regarded him favorably.
Better to start with praise.
"I've driven the electric vehicles from Mirae Motors since coming to Korea. They're quite impressive."
"Is that so?"
"They exceeded my expectations as EVs. The interior space and rich options were satisfying too."
While dating Jo Soo-ah in Korea, he'd tried various Mirae Motors EVs.
They drove well and stopped smoothly—the basics were solid. Spacious interiors with affordable materials but excellent finishing.
The mid-size SUV, priced at 49 million won base, packed high-end tech. Ride comfort even outdid Tesla.
Honestly, he hadn't driven that many cars himself.
The list included flagships from Rolls-Royce, Bentley, Range Rover, and Mercedes-Benz.
Luxury rides starting at 200-300 million won were hard to distinguish precisely, but he felt Mirae Motors had improved tremendously.
"When I first started working, my dream was to drive a Genesis or Grandeur. I thought driving one with family meant I'd made it in life."
"Haha, now you're a mega-rich guy who's surpassed me by miles."
Chairman Jin Myeong-il's gaze grew even warmer.
After becoming a super-rich in the U.S., he often met older politicians and businessmen.
Showing humility won them over.
Dropping a well-timed "back in my day" made them look at him fondly.
With the mood this good, it was time for the main pitch.
"So, I'd like to do real business with Mirae Motors."
"With our company?"
"Yes. Make electric vehicles together."
He revealed the plan to partner with Mirae Motors, plus DK and LK, forming an alliance.
"With consumer markets more important now, we can't build factories in Korea anymore. We'd build massive ones in the U.S...."
Mid-pitch, he noticed Chairman Jin Myeong-il's face flushing red.
He looked like he was barely containing his rage.
"Chairman?"
"A car... is just wheels on a smartphone? You think the auto industry is that easy?"
"It was a metaphor using EVs as an example. Car production naturally requires tons of tech—EV components, factory design and know-how, parts manufacturing, ride comfort, and more."
"And you want to get all that from our company?"
"Yes, exactly."
Chairman Jin Myeong-il pointed to the door.
"Get out. Scram."
He got thoroughly shot down.
* * *
I had enjoyed my date with Jo Soo-ah and made my business proposal to Mirae Motors.
The Earth Car project hit a reef, but plenty remained to do in Korea.
"Today we have a special guest. The owner of Earth Gaming Team, a celebrity known to everyone in Korea—none other than CEO Kim Shin."
Earth Gaming Team reached the Roll Summer League finals, so he visited the Gangneung venue.
The audience roared at the host's introduction.
Over 10,000 in attendance made the atmosphere electric.
"Woooaaah!"
"Kim Shin! Kim Shin!"
He stood, bowing politely amid the massive cheers.
Beside him sat Kim Sang-gi, whom he hadn't seen in a while.
"Kim Shin's popularity is no joke. Far away, but glad I came."
"It's a fun experience."
Earth Gaming Team racked up views surpassing Mets or Arsenal with every video.
"Didn't expect a newbie team in the finals already."
"All thanks to the manager working hard."
Kim Sang-gi looked brighter than during his Arcor days.
Doing what you love really matters.
The intense four-hour match ended.
"Champions! The Summer League winners are Earth Gaming Team. They clinch victory 4-3 in a nail-biter."
An unexpected championship.
During the victory ceremony, he heard from the players.
"After my team disbanded, I considered quitting as a pro. CEO Kim Shin created a new team and gave me courage again."
"Earth Gaming Team provides the best environment to focus on gaming. Teammates, staff—we're all one team. Thank you, CEO Kim Shin."
His name in their interviews filled him with pride.
* * *
〈Global Financial Markets: NYSE Stocks Plunge〉
〈NYSE Tumbles on Inflation Fears; Nasdaq Crashes Late〉
The Dow, Nasdaq, and S&P 500 had all reversed direction.
The three major indices, which had shattered records, reversed into decline.
"Kim Shin's shorting?"
"Even put options?"
Wall Street's top fund managers caught wind of Kim Shin.
They watched with keen interest, managing billions to hundreds of billions.
"Is today's drop Kim Shin's doing?"
"We fret over every hour, every three hours ahead. Indices rose too far. Inflation's shaky. Kim Shin selling is solid bad news."
Bad news spread; sensitive managers dumped stocks, accelerating the fall.
As rumors of Kim Shin's moves swirled...
〈Elon Musk Polls Online on Selling 10% Tesla Stake?〉
〈Tesla Plunges 12.01% on Musk Risk〉
Elon Musk posted an online poll about selling shares, sending Tesla down sharply—its biggest drop in 14 months.
The star stock, over $1,240 per share, cratered.
Folks thought it'd hit $1,300—Tesla13—but now at $1,023.
Tesla was now barely holding above one thousand dollars a share.
"Team leader, Tesla shorts have spiked."
"What?"
"From 3% to 22% now."
"Absurd..."
The analyst was Charles Dickens, a research-team leader at Bank of America.
Pondering who could aggressively short last year's and this year's top stock, one name came to mind.
"Kim Shin again?"
"Looks like orders from JP Morgan."
Finance is full of flash-in-the-pan stars.
In finance, it was common to hear about someone making enormous profits one year and going bankrupt the next.
Analyzing Kim Shin's moves on Wall Street, he wasn't a long-term investor.
He held months sometimes, but timed peaks and troughs to balloon wealth in a year and a half.
Untethered to market flows, he nailed timing per his analysis for insane returns.
"Isn't Kim Shin in Korea now?"
"Yes. If it's him, he's already made $25 billion."
Bank of America's yearly net profit in a week.
Charles laughed hollowly.
"Investment God. I mocked the movie announcement..."
"Team leader?"
"If it hits Earth Channel, watch it right away."
Of course, Kim Shin's trades were ongoing.