Investor That Can See The Future

Chapter 203

Five years ago, in the United States, there was an incident where a parked car was burned down in an explosion.

Eunseong Motors collected the vehicle and conducted an investigation, and found that the cause was the airbag. Ammonium nitrate decomposed due to high humidity and exploded.

At that time, Eunseong first recognized the PAS airbag defect.

Experts within the company argued that the safety of ammonium nitrate has not been completely proven and that the airbag supplier should be changed.

If it had been a company other than PAS, it might have done so.

However, at that time, Eunsung Motors was growing with various benefits from the government, and in this situation, it was impossible to change the supplier.

First, the case was covered by a large amount of compensation. However, accidents continued to occur after that.

It was not uncommon for the airbag to go off even in a light contact accident, and a more serious problem was that it exploded stronger than necessary, sending out metal or plastic fragments. In fact, an Australian driver died after being stabbed in the neck by a metal shard when an airbag was deployed.

Fortunately for Eunseong-cha, it was not a big issue because he was in a state of shock enough to die anyway.

As a result of Eunsung Motor’s own investigation, only a few defective products were found, and accidents occurred mainly in vehicles that had been driven for a long time in hot and humid areas.

Han Min-goo said urgently.

[When a defect is found and recalled, the situation becomes out of control.]

“Lee, you mean recall?”

In politics, a faction is basically a group of people who share a political belief. However, the so-called pro-Park Park Si-hyeong-gye was, in fact, closer to an interest group based on interests rather than a political group.

When money and power are gone, how many people will be loyal to him to the end?

The PAS is the surest shield that will protect him when he comes down from the presidency. But if you do it wrong, the shield will break.

Park Si-hyung felt the shock as if his head was going blank.

This is so serious that it cannot be compared with the Hosung Savings Bank case. If it was just a matter of the morality of the regime, it is a matter of survival.

“How likely are you to find a defect?”

[It won’t be easy. But the opponent is Jinhu Kang.]

“… … .”

Those words were enough.

Has he ever failed with his hands?

I don’t know how he noticed it, but he’d be confident enough to do a crash test.

The next statement was even more shocking.

[The U.S. National Highway Traffic Safety Administration (NHTSA) is also closely monitoring this experiment.]

Already, due to Big One, global car sales have fallen sharply. Silversong car sales decreased by nearly 20 percent compared to the same period last year, as did other automakers. In particular, the situation of the US subsidiary was serious.

But what if I need to recall it for safety reasons in this situation?

Recall costs are also an issue, but sales will likely drop even further. Here, the corporate image is damaged, consumer class action lawsuits, etc.

[You must stop after the earthquake.]

Park Si-hyung almost asked, ‘How?’

Should we conduct another search and seizure and arrest him on absurd charges?

If you do that now, the White House and American public opinion will not stand still. No, it is questionable whether the police and prosecutors will follow the order before that.

In the first place, the president is not in a position to order who should be put as the head of the executive branch.

It was absurd to have ordered it so far.

“Uh, what would you like to do?”

* * *

I kept getting reports of crash tests.

[Compared to other companies, it doesn’t feel like it bursts easily, but there is no big problem in general situations.]

Prof. Pil-Hyun Park had an excited voice, perhaps because he was doing the experiment he wanted to do.

Each crash test cost more than 0,000. An opportunity like this is rare.

So, as soon as I suggested, Professor Pil-Hyeon Park immediately packed up and headed for Detroit. He also accompanied students who wanted to observe the experiment and tour Karos. Of course, I paid all the cost.

The Department of Automobile at Hankuk University ranks among the top three in Korea, and most of its graduates find employment in research positions at automobile-related companies.

do you know I wonder if any of these people will get a job at Karos in the future.

[This time, I’m going to experiment with increasing the humidity.]

“Please continue to suffer.”

[Haha, what is the hardship? I’ll report the results as soon as they come out.]

“Okay.”

I hung up the phone and reviewed the material that Karos had sent me. It is a separate classification of airbag-related accidents among silver-star car accidents.

While I was reading the material, my phone rang.

It was an unknown number. Who is it?

As soon as I pressed the call button, I heard a woman’s voice.

[Hello, customer. I have a good insurance product, so I contacted you. When you get sick and go to the hospital, because you have to pay the hospital bills… … .]

“It’s not a burden.”

I said so and hung up the phone.

How the hell did you get this number? Is it possible that Chairman Im Jin-yong also receives calls like this?

I think so, but I really got a phone call from Chairman Im Jin-yong. I asked Kim who came to mind.

“Do you sometimes receive insurance helpline calls?”

[of course. I got a phone call saying that I can borrow up to 30 million won without collateral. Occasionally I get voice phishing calls. He said he was an investigator of the Intelligence Crime Team of the Prosecutor’s Office and was registered as a suspect account, so he told me to move all the money to the account he designated, so he said that he had a balance of 32 billion won, so he got angry and told me not to play around.]

I burst out laughing.

“Fuhaha, that must have sounded like a joke.”

Chairman Im Jin-yong brought up the main point.

[It’s a sudden crash test. What are you planning to do this time?]

“Have the rumors spread there already?”

[By now, no one will know. 3 trillion silver car market cap evaporated in just one day.]

As always, the fastest-moving sector is the financial sector.

As soon as the news broke that we were conducting a crash test, as soon as the market opened, foreigners and institutions started selling silver cars. At the same time, analysts at securities firms wrote and posted the ‘Eunsung Car Buying Recommendation Report’.

Seeing this, Korean securities firms are like angels.

They sell stocks that are good enough to recommend buying, so that individuals can freely buy them.

I briefly summarized the situation.

“It is presumed that the airbag supplied by PAS is defective. I plan to find out through a crash test and request a recall.”

Chairman Im Jin-yong said as a joke.

[Hmm, recall. Bad memories come to mind.]

I said it like a joke.

“It’s strange. I have good memories.”

[Haha, I didn’t actually say it, but thinking about that time still makes me sweat.]

“You did well, though.”

How is Eunsung Cha going to respond this time?

Chairman Im Jin-yong asked carefully.

[Is it because of a grudge?]

“Well, it probably won’t be.”

Whether it’s Park Si-hyung or Eun-seong-cha, it’s a bad relationship.

Eunseong’s car ruined our house, and that’s why his father died. If the former is direct, the latter is indirect.

And Park Si-hyung… … Further detailed description will be omitted.

[Automobile is a major export item and is an industry that has a great job-inducing effect. Even if there is a problem, it will be difficult for the Ministry of Land, Infrastructure and Transport to issue a recall order easily.]

It was not only Park Si-hyung who was stingy with the recall order, but also previous governments.

What appears here is the so-called ‘miracle logic of Eunseong difference’.

When domestic consumers protest against discrimination in domestic demand, the answer is ‘We use the same parts for both export and domestic demand’.

However, when domestic consumers request a recall by recalling overseas first, they suddenly change their stance and respond, ‘Because there are some differences between exports and domestic demand, Korea does not have any recall items.’

The relevant ministries, the Ministry of Land, Infrastructure and Transport, are always lagging behind.

“But if it was the U.S. National Highway Traffic Safety Administration, it would be a different story. If the recall is carried out in the United States, wouldn’t it be difficult to avoid it as a pun in Korea?”

In fact, even in the same car model, there are slight differences depending on the climate, topography, and living environment of the country.

For example, snow tires are installed as standard in areas where it snows a lot, and anti-rust paint is applied once more in coastal areas.

But airbags are exactly the same item.

A recall does not happen when all products are found to be defective.

In the case of the L6, out of millions of units, only a hundred units had actual problems. However, due to a very small portion of the product, it was recalled once, and then discontinued.

Other automakers are also watching the situation with interesting eyes. If you find a competitor’s flaws, you can blow your nose without touching it.

[You really want to blow the PAS.]

“It will depend on PAS, not me. If the airbags were made properly, there would be no recall, right?”

[Park Si-hyung runs several national projects, including volunteer diplomacy, and has his money diverted into overseas accounts. But that’s money that can’t be used until it’s been washed. PAS is the only source of funds in Korea, but if there is a problem, there is a high possibility that those who have been taking money and keeping their mouths shut will betray them.]

“A lot of interesting things will happen in the future.”

[We also need to prepare a little. As I said before, the Seoseong group has something to do with it. I’m glad I got to know you in advance thanks to my juniors.]

Even the Seoseong group cannot be free from the issue of political and economic collusion. Still, there will be many holes through which the venue has changed.

After the call was over, I looked out the window. Tehran Road was still crowded with cars. Even if the proportion of foreign cars in Gangnam is high, more than half of them are silver cars.

If Karos launches a new car, how much market share will it be able to occupy?

As I was thinking, my phone rang again. A lot of people contact me today. This time it was an unknown number.

I pressed the call button.

“No insurance or loans required.”

Then the opponent said.

[Hello, CEO Kang Jin-hoo.]

“Who?”

[This is Han Min-goo.]

I remembered the gray-haired old man I met briefly at a conference hosted by President Ronald.

“Good morning.”

Chairman Han Min-koo told me.

[If it’s okay, can we meet for a moment?](Read more @ wuxiax.com)

* * *

I went into a Japanese restaurant near Gwanghwamun.

As soon as the staff saw me, they showed me to the innermost room to see if I had been told in advance. Inside, it was a narrow and long corridor, and if you look at the structure, it was close to a closed room.

When I opened the sliding door and entered the room, Chairman Han Min-koo was seated first.

He got up and held out his hand.

“Nice to meet you, CEO Kang Jin-hoo. Long time no see.”

“Yes. Long time no see.”

This is the first time since the meeting. A lot has happened in the meantime.

He is an old man who is approaching his 80’s, but he still has a corrected appearance. So it’s still in the management line.

“What did you say you wanted to see?”

Chairman Han Min-koo smiled.

“Heh heh, what do you have to say about work? I wanted to meet CEO Kang Jin-hoo once and talk a bit.”

Chairman Han Min-koo, a second-generation executive, is a living witness of Korea’s automobile industry and industrialization.

I sat down. If I had seen Chairman Han Min-koo and the two of them face-to-face, what would your father think?

“My father really respected the president. He always said that if it weren’t for the chairman, Eunsung Tea wouldn’t be able to become a global company, and he said that we should be thankful because our house is all thanks to Eunsung Tea.”

Chairman Han Min-koo calmly nodded his head.

“It is.”

At that moment, I could feel the popularity outside.

“You said to come one more minute. Sorry for not telling you in advance.”

The person who entered the room was an old man in a suit and glasses. A slightly skinny figure, a wrinkled face, thin lips, and a slender chin caught his eye.

He looked at me and said kindly.

“It’s the first time we’ve met like this. Nice to meet you.”

I’m not very happy with it.

In the meantime, I’ve seen his face countless times on TV. Perhaps he, too, got tired of seeing my face on TV.

Although we have been in a relationship for quite some time, this is the first time we have met in person.

“Good morning.”

I shook hands with President Park Si-hyeong. His hand felt cold for some reason.

As soon as Park Si-hyung sat down, he picked up chopsticks and ate a piece of sashimi. Then he said friendly.

“First, let’s eat and talk. The red sea bream in this house is very good. It’s hard to eat sashimi like this in the Blue House.”

I smiled and shook my head.

“I am fine. There is also a saying that you should not accept a glass of water or a piece of bread from your enemies.”