Investor That Can See The Future

Chapter 341

[The shocking remarks of the Vice President of OTK Company!][Do domestic game companies really move abroad?][This is just a suggestion, there is little possibility of realization][Secretary Jeon-mi Shin, Deputy Representative of OTK Company should be held accountable for his remarks][The Ministry of Recreation and Aspect Equality Activities Promotion Agency, I can’t contain my anger at the threatening remarks from the game industry… … ][Ministry of Gender Equality and Family, in accordance with the guidelines, take strong legal action against articles and comments that undermine gender equality]

The government and public opinion, including the Ministry of Gender Equality and Family, regarded the OTK Vice President’s remarks as implausible blasphemy.

But that was because I didn’t know Oh Taek-gyu well.

Domestic game companies moved in an orderly fashion under the leadership of OTK Company. About 30 game companies, including the five major game companies, reviewed the specific timing and plan for the separation of the Korean corporation and the relocation of the headquarters overseas.

It is impossible for all personnel to leave Korea immediately. However, it is possible to separate development and service into subsidiaries and move the holding company overseas.

To this end, it was decided to hold a general meeting of shareholders and submit a letter of intent to delist to the exchange.

When this happens, shareholders usually react. But this time, things were a little different. The stock prices of game companies were plummeting due to the hard-line stance of the Ministry of Recreation and concerns over game regulation laws.

If the bill is really passed and it pays 1% of its sales to the fund and 5% as a penalty, then the net profit will drop sharply or run into a deficit. Therefore, shareholders raised their hands in favor of overseas relocation.

The announcement of group migration by game companies immediately shocked the economy and stock market.

Pornography doesn’t have an industry in Korea in the first place. Therefore, whether or not the regulations are tightened, there is no impact to the industry. It just makes it harder to download illegally.

However, games are already an important axis of the IT industry. That’s why NPL, Guble, Facenote, and Microsoft do not spare any investment in the game field.

The area where game companies were gathered was in turmoil, and even the surrounding house prices fluctuated. Inquiries from homeowners flooded the brokerage firm.

In the real estate market in Pangyo and Bundang, the buying force disappeared in an instant, and some broke the contract right before signing the contract.

– Exodus haha ​​Just like Moses took the Jewish people to the land of Canaan, the vice president of OTK Company left with the game companies.

– Because the persecution was so severe. Where will the diaspora be built?

-By the way, didn’t President Huh Changmin criticize the former government policy during his candidacy and say that he would make games an important industry?

-The government raises it as a core industry, but the Ministry of Gender Equality and Family regulates it and collects money.

– It’s similar to a nuclear power plant. Korea phased out nuclear power, but encouraged export of nuclear power plants.

– But then what will happen? Are all domestic games shutting down?

– It doesn’t matter anyway. It will serve as a foreign game service in Korea. And if you are going to impose ridiculous regulations or collect money like now, you can file a complaint with the WTO.

-Moving to the US solves all problems. Korea is good for being a game clean country, the US is good for nurturing the game industry and creating jobs, and the leisure department is good for kicking out the game industry.

– Hey! It will be cool in the leisure time.

– Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha tried to call game companies, but the regulation has completely disappeared.

-I was trying to rip a little bit out of the control as an excuse. If the game industry leaves, who will the funds go to?

-Do not worry. You just need to regulate webtoons and manga. If you change the 4th addiction to the 5th addiction by including comics, everything is solved.

-Now it seems like Pororo is going to tell him to spit it out by pounding it out~^^

– If it’s a leisure woman, then that’s all there is. The next victim is Pororo!

– Wait. Now, a support group for the Ministry of Leisure is pouring out research results showing that looking at Pororo damages the brain, increases violence, and decreases sperm count.

-Establishment of Pororo Addiction Healing Center! A dedicated teacher for Pororo addiction is assigned to each kindergarten!

– Let’s not touch President Po as a human being ㅡㅡ;

* * *

The whole world was in turmoil at the announcement of the group relocation of Korean game companies.

In the case of automobiles made in country A and sold to country B, customs duties and VAT are paid to country B. However, sportswear, including games, is taxed only where corporations are located, wherever they are sold. So, in the case of App Store and Gubble, which operate the App Store, they spun off the App Store and have a corporation in Ireland. Ireland has the lowest corporate tax in the EU.

In other words, a country that attracts game companies can reap huge tax revenues!

The competitiveness of the Korean game industry is well known. There are many games that have already secured a large number of users, and there are many excellent developers.

It can create enormous employment and added value just by attracting them. Love calls came in from various countries and cities.

Among them, Detroit was the most active.

Detroit, as we all know, is the center of the automobile industry. However, Silicon Valley collapsed with the Big One, and Carlos took a seat here, attracting related IT companies to form a cluster.

Thanks to this, Detroit has rapidly emerged as an IT industrial complex as well as automobiles.

When OTK Games, which was in Tokyo, decided to relocate its headquarters to Detroit to cooperate with Karos, the city decided to create a game cluster after abandoning it altogether.

As Korean game companies showed the Exodus movement, they started to attract the governor of Michigan and even the mayor of Detroit.

“We will make Detroit the center of the game industry!”

“We will review various support and tax benefits, and provide dormitory and land for free!”

President Ronald did not stand still. He immediately tweeted.

[Welcome to the United States of Korean game companies. Americans love games and know how to have fun. Above all, there is no Ministry of Gender Equality and Family in the United States!]

As everyone knows why game companies are leaving Korea, the last words were nothing more than a mockery.

* * *

The government would not have blinked an eye when it was announced that one or two companies would be relocating to avoid regulation.

However, it is a different story if the entire industry is moving collectively. And OTK Company has enough money and influence to move all domestic game companies overseas.

When this happened, the situation was so serious that it was simply considered a boycott or slander.

On behalf of President Huh Chang-min, who was on a European tour, the Ministerial Meeting was held under the presidency of the Prime Minister Ryu Jeong-hoon.

Ministers from all ministries attended without exception. All the ministers, except for the Minister of Recreation, expressed concern about the situation.

“In a situation where the manufacturing profit margin is less than 10%, the game industry profit margin is over 20%. It is a high-value industry.”

“Games exported $8 billion last year alone. Exports this year alone have increased by more than 30 percent compared to the same period last year.”

“It is an industry that is growing by more than 20 percent every year, and it has been transferred to foreign countries.”

“How are we going to mobilize talent? Each game developer is a national talent. If key personnel leave the country, the Korean game industry will become subordinate to foreign countries.”

“Other countries are anxious because they can’t develop the game industry. Does this make sense? This incident has become a laughing stock abroad as well. It is a total international disgrace.”

“Right now, tax loss is also a problem. When all the game companies go out, who pays the tax?”

Even if we do not use the phrase ‘It’s the economy, stupid’ as an example, economic policy is the most important thing for the government. Because ideology or ideology does not feed the rice.

Right now, Korea is already struggling with a poor economy and an increase in the unemployment rate. This is due to a structural problem of the industry rather than the current government’s responsibility, but it is clearly the government’s fault that it has failed to solve the structural problem.

While industrial restructuring was sluggish, all ministries were struggling to raise the employment rate.

But in this situation, what will happen if game companies leave Korea all at once?

Decrease in exports, decrease in tax revenue, increase in unemployment, decrease in employment rate, outflow of talent, loss of industrial competitiveness, etc. The biggest problem is the drop in approval ratings.

Small game companies have hundreds of employees, and large game companies have thousands of employees. If you consider the tens of thousands of direct employees and related industries, there are hundreds of thousands!

What kind of people will like it if the economic loss increases due to negligence and anti-corporate sentiment towards a specific industry?

Although this manpower will not go abroad right away, if game companies relocate their headquarters, there is a high possibility that key personnel will also leave.

The Minister of Science and ICT said.

“Korea has weak software competitiveness compared to manufacturing competitiveness. If all the game companies really leave, the Korean software industry could collapse.”

Shin Min-mi, Minister of Gender Equality and Family, objected.

“What is the connection between games and the software industry? It is not logical to say as if the entire domestic industry would suffer damage just because the game industry leaves.”

He shouted in frustration.

“Do you know that game developers only make games? Since it’s the Unreal Engine used to make games, everything the Scrap Engine does is software! A game developer develops software, and a software developer develops a game. Please keep your mouth shut if you don’t know!”

“… … .”

After the ministers finished their remarks, Prime Minister Ryu Jeong-hoon opened his mouth.

“The Ministry of Gender Equality and Family will hand over the authority to regulate the cultural industry to the Ministry of Culture, Sports and Tourism, and from now on, the Ministry of Gender Equality and Family will focus on women and family issues. In addition, the Minister of Culture, Sports and Tourism, please contact the game industry and try to resolve the matter as soon as possible.”

Minister Shin Min-mi was astonished at those words.

“It is not so. In order to protect youth and women, the Ministry of Leisure must have regulatory authority.”

Prime Minister Ryu Jeong-hoon, who could not stand it, shouted in a voice mixed with anger.

“Now that the subject of regulation itself seems to disappear, what is the use of regulatory authority!? Do you still have something to say after you’ve made the situation to this point by rushing to kill a thriving industry? These are the instructions of the President. If you have any complaints, ask the President directly!”

* * *

after the ministerial meeting.

The Blue House announced that it would unify the authority to regulate the cultural industry to the Ministry of Culture, Sports and Tourism. The Minister of Culture, Sports and Tourism decided to immediately meet with the CEOs of game companies and listen to their difficulties.

Even if we do this first, we want to appease the game industry.

However, Minister Shin Shin-mi, who was responsible for causing the incident, held her position without taking any responsibility.

Netizens could not help but marvel.

– Hey! Does it make sense to not get fired even for that?

– No apology.(Read more @ wuxiax.com)

-Why the hell are you wearing such a new beauty? Did you catch any weaknesses?

– Because she has strong support from women’s organizations

– What are you thinking about now? Did you not know that this government was originally elected?

– I’m going crazy. I didn’t know it was this much.

– He seems to hold his position until the change of government.

– No compromises in moderation! If you leave it alone, it gets boring again.

-Please take this opportunity to respond clearly!

– Just tell him that you’re going to evacuate~

Despite the government’s announcement, the game industry refused to engage in any dialogue. Rather, it seemed to speed up the separation of the corporation.

If it had been before, it wouldn’t have come out this strong.

However, things have changed since OTK Company came out. It wasn’t just because OTK Company was rich and influential.

The vice president clearly understood the difficulties of the game industry and was willing to continue to support it in the future. This was a fact that can be seen enough just by looking at the creation of the OTK Award.

In the meantime, the game industry, which had been responding to regulations in a ruthless way, came together.

“The Vice President will do everything for you! There is hope, there is hope!”

“right. I have lived without hope.”

“Believe in the Vice President and fight to the end!”

The government, who thought they would agree if they offered to talk, was bewildered. Minister Kim Kuk-cheon personally met with the Vice President of OTK Company and persuaded him. But the answer that came back was firm.

“We are only following the will of Minister Shin Min-mi. If you don’t like the temple, the middle will tell you to leave, so what’s the problem? Don’t worry too much, because we will take all the roots of the Korean game industry and plant them abroad, and then give them plenty of chemical fertilizers to make them grow well.”

“What would you like to do? If there is anything you want, please tell me.”

In response to Minister Kim Kuk-cheon’s question, Deputy Representative Taek-gyu Oh said.

“Game development is a lot of work and the salary is high. Even so, everyone works overtime every day and even on weekends with the determination to make fun games. What the hell did they do so wrong? At least you shouldn’t ignore the fact that you won’t be able to treat them. However, some people treated game developers as if they were gambling or manufacturing drugs. Wouldn’t it be difficult to have a conversation with someone like that if he continued to hold a key position?

* * *

Although the Blue House pressured and criticized within the party, Minister Shin Shin-mi did not bow down until the end.

In the end, Prime Minister Ryu Jeong-hoon issued an apology on behalf of the Minister of Leisure.

“I sincerely apologize to everyone involved in the game industry and everyone who has been hurt by excessive regulations and radical remarks. The government clearly recognizes that gaming is a proud Korean cultural industry and a key industry that will lead the future. In the future, we will actively reflect the opinions of the game industry for proper regulation and growth, and we will spare no effort at the government level.”

President Huh Chang-min, who is on a European tour, fired Minister Shin Shin-mi in writing. He decided that Vice Minister Cha Yun-hye would act as the minister until a new minister was appointed.