Investor That Can See The Future

Chapter 403

After attending a business meeting after a long time, I shook hands with business people I knew and greeted them.

“Saemangeum is really something I never imagined.”

“Since the representative has stepped forward, I have high expectations.”

“I want to join our company as well.”

SSK Group Chairman Chae Won-tae said hello.

“Thanks to CEO Kang Jin-hoo, I was able to pass this time safely. Thank you.”

I smiled.

“Thanks to everyone moving together.”

Here, the last incident refers to Japan’s export sanctions measures.

Fortunately, Japan withdrew the sanctions on its own, but if the situation had been prolonged, the electronics industry, such as semiconductors and displays, would have suffered great damage.

As a result, companies urgently felt the need to diversify their customers and localize core technologies.

In the process of taking measures at that time, companies with overlapping industries agreed to jointly develop essential materials and core technologies.

In the case of special materials that are not general-purpose materials, Japanese companies have excellent technology and have limited sales outlets. It is not easy to secure price competitiveness and vendors only if time and money are spent on development.

Even if it is a large company, SMEs are reluctant to invest.

Accordingly, Seosung Electronics and SSKnicks decided to provide development costs to small and medium-sized enterprises (SMEs) that develop core materials and equipment, and to purchase them first when completed.

“Through that experience, I felt a lot. It is impossible not to do business with Japan, but the problem was that we were too dependent on it. We plan to reduce our dependence on Japan through continuous technological development.”

“You thought well.”

Again, special materials and equipment have limited sales outlets.

When Korean companies shifted some of their supply chains to Europe and reduced their imports, Japanese companies that could not find a suitable replacement were bewildered. Moreover, as Japan realized that Japan could impose export restrictions at any time depending on the political situation, other foreign companies also reduced their orders. It was gradually decreasing.

It is a boomerang that was intended to damage Korea. That’s why there seems to be a saying in Japan, “If you want to curse another, dig two graves”.

Well, Japan is still Japan.

Even if it passes safely this time, we must not be vigilant in the future as it is the third largest economy in the world.

“As you may have heard from Chairman Im Jin-yong, we are planning to create a semiconductor cluster in which the main contractor and subcontractors, large companies and small and medium-sized enterprises are linked, and we are seeking a site.”

Seosung Electronics raised its memory semiconductor production and technology with the huge profits it had earned so far, and made large-scale investments in non-memory semiconductors, which were evaluated as relatively weak.

In addition, SSK Nix is ​​increasing its factories and research institutes. Chairman Chae Won-tae announced that he would invest 100 trillion won in the future.

Skills are upgraded over time. Both companies have a strategy to build a wall that latecomers cannot follow through preemptive investments.

“We need to expedite the construction of the cluster, but it is not easy to find a site where dozens of companies’ factories and research centers are located in the metropolitan area. Regulations and taxes are also issues. So I am thinking of Saemangeum as an alternative.”

“If you invest in Saemangeum, the government will also welcome you.”

He nodded at my words.

“One thing I am worried about is the supply and demand of manpower.”

Not to mention the researchers, the workers working in the semiconductor factories are highly educated and highly educated workers. Recruiting large numbers of people in the province is not easy.

“The biggest problem is the lack of accessibility to Seoul. In terms of location, isn’t it farther than Sejong City?”

This is the part that is pointed out as the weakest point of Saemangeum. If Saemangeum had been in Gyeonggi-do, it would have been long before the development was over.

The new cities developed so far are satellite cities of Seoul. Pangyo, which is evaluated as the most successful, is characterized by its proximity to Gangnam. If Gangnam wasn’t within 30 minutes, would Pangyo have been so successful?

As such, Korea is highly dependent on Seoul.

“It’s not even the distance between Silicon Valley and Los Angeles. If we can make a livable city, there is no need to be close to Seoul.”

Chairman Chae Won-tae burst into laughter.

“haha! That’s correct. Come to think of it, Sydney and Melbourne are a thousand kilometers apart, but people in Melbourne don’t complain that Sydney is far away.”

The head of the Saemangeum Development Administration and employees of the Saemangeum Development Administration also attended to promote the investment. A few days ago, when we signed an MOU with Commissioner Nam Poong-hoon, we met and greeted each other.

He said holding my hand tightly.

“We have held numerous investment briefing sessions and forums, but this is the first time that companies are showing interest like these.”

Not long ago, many people did not know where Saemangeum was or what the Saemangeum Development Administration was doing.

However, immediately after the announcement, the news was intensively reported every day, and Saemangeum immediately took the top spot in real-time search terms. It’s still going up and down at the top.

It is said that the Saemangeum Development Agency was flooded with calls, connected, and the website was down several times. The Saemangeum Development Agency, which had little presence among government administrative organizations, has now emerged as the most important organization.

As development accelerates, the status of the organization will rise further. Maybe that’s why Commissioner Nam Poong-hoon was blunt.

“Companies who have been hesitant to follow up and ask for investment are the first to inquire about investment. It’s all thanks to CEO Kang Jin-hoo.”

“What. Have you ever had any complaints?”

“Why not? Destruction of the environment, falling house prices, wasting taxes, developing our neighborhood, etc. There are a lot of talk here and there. However, protests are also protests, but speculators from all over the country are calling and trying to sell some land. No matter how many times I say that I am not selling to individuals, they will not listen.

“… … .”

Should I call it a real estate republic?

* * *

The door to the hall was closed and the meeting began in earnest. Since it was a private meeting, reporters were blocked from entering.

Large companies and small and medium-sized enterprises (SMEs) filled the positions. Because there were more attendees than expected, there were not enough chairs, and hotel staff carried simple chairs.

A man in a suit, representing the Saemangeum Development Administration, stood on the podium.

“Hello. My name is Park Jung-soo, who is in charge of investment attraction cooperation at the Saemangeum Development Administration. I am delighted to be able to present this here.”

After floating the PPT, in a slightly trembling voice, he explained Saemangeum’s location, transportation, logistics, development plan, and various investment incentives.

Corporate tax reduction, registration tax exemption, customs exemption, cheap land, installment payment of land purchase fee, investment subsidy, etc.

If you attend this event, you will already know all about it. But managers listened intently, and some took notes in their notebooks.

After the presentation, Manager Park Jung-soo said:

“If you have any questions, please ask.”

It is a characteristic of Koreans to be good at listening, but not able to ask a question. While everyone was watching, the president of a medium-sized company raised his hand.

“Our company is currently considering an investment, and we heard about the same thing when we met with other municipalities. So, what makes Saemangeum unique?”

To that question, Manager Park Jung-soo confidently answered.

“Unlike the development projects conducted by each municipality, Saemangeum is directly managed by the government. In addition, all development takes place on state land without local governments or private land, and administrative procedures are also carried out one-stop by the Saemangeum Development Administration. Saemangeum is unique in the country for such development.”

It’s really hard to start with anything. As one person started asking a question, about a dozen raised their hands.

“I know the landfill is not even halfway done, when will it be done?”

“The international cooperation site where companies will be built is almost finished. There are a number of companies that are currently moving in and operating. We will finish the construction of the surrounding infrastructure first.”

“For a company with a lot of import and export like us, logistics is the number one priority when choosing a factory location. However, the nearby Gunsan Port is small and it is difficult for large ships to dock. Another problem is that ships from overseas are limited.”

“Currently, we are in the process of creating an artificial island to create Saemangeum Port. Until the construction is complete, we plan to strengthen the linkage with nearby ports so that there is no inconvenience.”

“I saw the plan for Saemangeum International Airport, how much do you think you can secure flights to major foreign cities?”

“First, Incheon Airport, a hub airport, and domestic flights will be opened to enable transfers. I think that the number of direct flights will be increased when theme parks and complex resorts are built in the future. Regarding flights, we are discussing with several LCCs, including the national flag.”

Questions continued to see if everyone had a lot of questions, and Manager Park Jung-soo did his best to explain it to the best of his knowledge.

It’s nice to see your enthusiasm.

After finishing his presentation, he went down, and this time I got up. As I have already explained everything before, further explanation is unnecessary. The people gathered here must have already done enough research.

There are already many free economic zones in Korea, and many local governments have announced new city plans. Smart City, Robot City, Global City, Design City, Eight City, etc.

Among them, only one or two of them have progressed properly, and if you know what has been done, they are only focusing on sales while building a lot of apartments.

What we need now is the assurance that Saemangeum will be developed properly.

Anyone who recommends that there is a good investment place should be asked this question. If it is such a good investment, why don’t you do it yourself?

If Saemangeum is a really good place, I would go first.

“OTK Company and related companies will invest 300 trillion won to establish electric vehicle complexes, battery complexes, research institutes, and video studios. OTK Company will move its headquarters to Saemangeum within the next five years, and I will also relocate.”

* * *

[The ruling and opposition parties agree to hold economic hearings][Liberal National Party, we will thoroughly review the supplementary budget to prevent wastage of blood!][CEO Kang Jin-hoo must explain the suspicion of preferential treatment for Saemangeum development](Read more @ wuxiax.com)

[CEO Kang Jin-hoo reveals his intention to attend the hearing!]

The New Politics Party agreed to hold an economic hearing in response to the demands of the Liberal National Party. The Blue House also agreed to send out Deputy Prime Minister Jeong Ki-soo and Chief Policy Officer Lee Eung-gwan of the Blue House.

The Blue House made a big decision, but neither the media nor the opposition parties paid much attention to it, and only focused on Kang Jin-hoo’s participation.

It was no exaggeration to say that Kang Jin-hoo was the core of this hearing.

The whole world paid attention to this economic hearing. The direction of Saemangeum development will be decided according to the results of this hearing.

-They have the ability to learn, do they not? Did you lose your mind even after being hit like that last time?

– Leave me alone. Guess I haven’t hit it yet

-Isn’t Kang Jin-hoo in a disappointing position this time?

– If the Liberal People’s Party opposes it, it’s a new town, and it goes across the water. So this time, I have no choice but to bow my head and pray for Kang Jin-hoo to look after me.

– Did you know that, you’re flirting like this?

– Haha, is that true? The Liberal National Party always had a plausible plan. Until he was beaten by Kang Jin-hoo.

-Anyway, Yeon Kazaki who doesn’t see things going well in Korea ㅜㅜ

-I like Japan. There is such a patriot

Kang Jin-hoo had previously attended a hearing at the National Assembly. While the other chaebol presidents all bowed their heads, they insulted the lawmakers who were on the offensive, and then slowly got up from their seats.

This was the first time in the history of the hearing, and the video at the time was so popular that it had subtitles in various languages ​​and surpassed 100 million views on A-Tube.

In order not to repeat the same mistake as the previous hearing, Party leader Yeon Na-kyung gathered lawmakers and devised a detailed strategy.

At the time, I was forced to pull out Kang Jin-hoo, who had no regrets, but this time it was different. If the political system puts a brake on it, it can influence the Saemangeum development plan. Therefore, Jin-hoo Kang will do his best to persuade the opposition members.

He, of course, had no intention of obediently listening.

The Liberal People’s Party members remembered what happened to Kang Jin-hoo. Former President Park Si-hyeong went to a detention center, lost the presidential election and took over the government, the party was engulfed in infighting, and the people became a laughing stock.

“Let’s definitely show the power of our Liberal Kuomintang this time!”

Party leader Yeon Na-kyung and the Liberty Korea Party lawmakers were determined to win.