Chapter 66
Translator: Dreamscribe
[Make America Great Again!]
“I’ve seriously never seen a candidate like that in my life.”
The U.S. election is just around the corner.
Donald Trump, known as a hardline conservative.
And his opponent from the Democratic Party, Hillary Clinton.
These two were on completely opposite ends of the spectrum.
Looking at the polls alone, Hillary Clinton was clearly ahead.
“There were so many scandals this time. The allegations of Russian interference, the email scandal, and all that. On top of that, Trump caused a lot of controversy with various remarks.”
Trump is notorious for making extremely dangerous statements.
He also mentioned that if he were elected president, he would build a wall on the Mexican border, block illegal immigrants, forcibly bring back companies that moved overseas, and implement protectionist policies.
On top of that, he talked about increasing defense spending for allied countries and reducing dependency.
He was trying to exert massive influence across the military and industrial sectors.
So at this point, with the exception of a few countries, almost every nation was hoping for Hillary’s victory.
“But even just looking at the polls, isn’t Hillary overwhelming?”
“Well, you can tell just by looking at social media, right? All the superstars are supporting Hillary. You can’t ignore that kind of public opinion.”
This election was quite blatant.
The media was clearly trying to bury Trump, and even Hollywood was actively opposing the idea of someone like Trump, a lunatic, becoming the President of the United States. Actors were even posting directly on social media.
“That’s why even Kangseong needs to start making a decision.”
“A decision, as in…”
“Trump or Hillary. We have to support one of them too.”
It might seem ridiculous that a Korean conglomerate would support a specific U.S. presidential candidate. But this isn’t something to take lightly.
We’re talking about the President of the United States.
A position that can shake the world economy, possibly the most powerful seat on the planet.
No company wants to be disliked by someone like that.
“Moreover, Kangseong is competing with Apple and trying to expand its semiconductor market. If Trump starts checking us in the name of protecting domestic companies, it’s going to be really tough.”
Trump had already made several statements about saving domestic companies.
“The problem is that companies within the U.S. aren’t taking Trump’s remarks positively.”
In the name of protecting domestic companies, he’s talking about unreasonably raising tariffs and conducting strict screening and deportation of immigrants in the U.S., which is putting American companies in a tough spot.
Take Apple, for instance. They use more imported components than what they produce themselves.
If tariffs go up here, then naturally product prices will increase.
And that’s not all.
If immigrants are driven out, cheap labor disappears along with them.
Sure, they could just set up factories in other countries like they always did, but Trump has made it clear that he intends to force even major companies like Apple to build factories in the U.S.
“That’s why companies are working hard to influence public opinion so that Trump doesn’t get elected. By supporting Hillary’s side. Ah- except for the energy and real estate sectors.”
He had been talking about reviving the U.S. energy industry for a long time, and since the Trump family was in real estate, there were many predictions that the real estate industry would benefit.
I nodded and quietly looked at Chairman Kang Sung-ho.
“But… you look quite gaunt, don’t you?”
“Hmm? Ahaha. Isn’t this better, actually?”
Chairman Kang Sung-ho was said to be almost entirely in Europe these days.
He was doing everything he could to expand into the European market by forming alliances with various semiconductor companies.
“Business expansion is great and all, but make sure to take care of your health too.”
“I should, right? I used to have a routine, exercising every day and all, but lately, it feels like that’s all fallen apart. Still, what can I do? For the future of our Kangseong Group, I’ve got to give it my all.”
Normally, when you think of a conglomerate chairman, you’d imagine someone who delegates everything and lives comfortably, but Chairman Kang Sung-ho, how should I put it, he seemed like a hard worker.
“What can I do? I want to relax too, but CEO Jung set the stage. He cooked the rice, made the side dishes, and now all I have to do is eat. If I don’t eat, am I even human?”
Even though he spoke that way, there was indeed a lot Kangseong had to do.
That’s why Chairman Kang Sung-ho wasn’t planning on missing this opportunity.
“Oh, right. And I heard about it. TSMC’s cargo completely disappeared at the Port of Tianjin, didn’t it? And I heard they canceled the contract with Kwangwoon and then came crawling back.”
“Yes. Losing all their cargo at the Port of Tianjin was a major blow, and from what I know, they’ve been in chaos because they have no way to deliver to their clients right now.”
“Then they must be clinging to Kwangwoon Shipping’s coattails.”
“Yes. I think Kwangwoon will probably charge them triple the usual shipping fee.”
According to CEO Kim Doo-young, this was a matter of ‘guilt by audacity’.
They had to pay the price for unilaterally terminating the contract with us and siding with the Dragon Sea Alliance.
“Then, how about this?”
“Yes?”
“You said TSMC agreed to pay three times the usual rate, right? You probably have a rough calculation of how much money you’ll receive regularly.”
“Yes. I believe Kwangwoon Shipping is calculating that now.”
“Good. Then I’ll pay ten times that amount.”
“…Yes?”
“From now on, reject all shipping requests coming from TSMC to Kwangwoon. Instead, our Kangseong Group will compensate you tenfold for any losses incurred.”
Ten times was a significant amount.
No matter how much money Kangseong Group made in Korea, it wasn’t the kind of company that handed out charity.
Offering to pay that much meant the opportunity was worth that level of investment.
“First, the loss of TSMC’s logistics at Tianjin Port was huge. On top of that, the Dragon Sea Alliance was wrecked by the Chinese government. Their executives were all arrested, and their fate is unclear. In short, there’s no company left to take responsibility for TSMC’s shipping.”
TSMC was now isolated.
The semiconductors meant to be distributed from Tianjin Port were all destroyed in the explosion. While they were quickly ramping up new production, there was no company available to deliver it.
“There’s not even a solid shipping company left in Taiwan either.”
“There used to be, but most of them either shut down or were absorbed by the Dragon Sea Alliance. Trusting that, TSMC abandoned us and signed a contract with them instead.”
“Right. But what happens if even Kwangwoon refuses to help TSMC? Then no matter how much TSMC produces, they won’t be able to ship it anywhere.”
But TSMC wasn’t limited to just maritime shipping.
They didn’t rely only on sea routes; they also had air routes.
“Lately, there’s a reason TSMC has been forced to use maritime shipping. The shipping industry as a whole was already in decline, and that caused the air freight industry, which was already struggling, to shut down in waves. And to make matters worse, Kwangwoon has basically monopolized the entire shipping business. That meant even less work for air freight companies, and they all shut down in Taiwan.”
There had also been one more critical event.
“Taiwan held a presidential election this year. And a candidate from the Democratic Progressive Party was elected. Until then, the Kuomintang had been implementing pro-China policies, but the newly elected President Tsai Ing-wen made it clear that she would firmly reject the One China policy. That’s when China lost it.”
From that day on, China began flexing its military muscle, constantly sending fighter jets over Taiwan’s airspace and dispatching warships.
Because of the frequent incursions, planes from Taiwan’s airlines had to turn back mid-flight, and due to the drop in reliability and safety, customers began to avoid Taiwan’s air cargo entirely.
TSMC was also forced to use sea routes with no other choice.
“The funny thing is, TSMC is being reprimanded by the Taiwanese government for partnering with the Dragon Sea Alliance. Publicly, they supported the current government and opposed the One China policy, but behind the scenes, they were doing business with a Chinese company.”
In short, this was a golden opportunity given to Kangseong Group by the heavens.
“TSMC doesn’t just ship out goods, right? They have to import to get components too. And most of that is done through maritime shipping.”
“So you’re saying we should block their imports too? Since Kwangwoon Shipping controls that sea route.”
“Exactly. Now you understand why I’m offering to pay ten times the usual rate on a regular basis?”
Ten times.
A pretty massive amount.
However, if it meant the downfall of TSMC, the strongest foundry player, then that tenfold price would actually be quite cheap.
“I’ll coordinate with Kwangwoon Shipping to give you an accurate quote.”
“Tsk. Just don’t rip them off too much, alright? Oh, by the way, CEO Jung. Earlier I was talking about Hillary Clinton and Trump, remember? Between the two, who do you think will win?”
Honestly, this wasn’t even a question that needed a intuition.
Every media outlet and indicator was already pointing to who the next president would be.
“Well, of course, Hill-”
But it was right then.
Just as I was about to say Hillary’s name, something unknown made my mouth stop moving.
“What? Who?”
I tried to force my mouth open, but it wouldn’t budge at all.
Which meant, surely not…
“…Trump.”
***
Ninety-five percent of the semiconductors produced by TSMC are manufactured domestically.
Recently, due to the rapidly deteriorating relationship between China and Taiwan, TSMC had announced plans to build foundry plants in the U.S. and Europe. But that was something five to ten years away, at the earliest.
In other words, this was the first and possibly last chance to isolate TSMC.
Not China, but Kangseong and Kwangwoon.
Two Korean companies were isolating the giant of the foundry industry.
If TSMC were to wither and die like this, there would be a massive tectonic shift in the semiconductor industry.
“Did your meeting with CEO Jung Jin-ho go well?”
“Ah, yes. It went well.”
“So, what did CEO Jung say…”
“Well, you know how CEO Jung always says the same thing? That he wants Korean companies to succeed more than foreign ones. Maybe that’s why he agreed to our proposal.”
At that, the faces of the executives brightened.
“But Kwangwoon is really impressive. Honestly, when they said they were going to swallow up Hanjong Shipping, I thought it was a foolish move. But to grow it like this…”
“Yes. Who would’ve imagined? That it wouldn’t be China, but our country isolating TSMC.”
Who would’ve thought that the shipping business, once dismissed as worthless as a piece of paper, would become such a threatening card.
That’s why I sometimes wonder.
Could it be that Jung Jin-ho foresaw this far ahead when he took over the shipping business?
“Chairman, about the money you mentioned investing into the Hillary fund… when would that be?”
“Ah, that.”
In the U.S., companies can politically support candidates through various legal channels.
However, it’s illegal for companies from other countries to directly fund a U.S. presidential candidate.
So how do they do it?
There’s a loophole in the law.
If an American investment firm creates a fund that supports a specific candidate, you can simply put money into that fund.
Then that money gets funneled to help the candidate, and that’s how foreign companies make political contributions.
“By any chance, is there a fund for Trump, not just for Hillary?”
“Excuse me? But… Trump’s chances of winning are almost nonexistent, aren’t they?”
“There is a fund that exists, but I’ve heard almost no one is putting money into it.”
If the odds were 50-50, people might consider it.
But all the data predicted Hillary would win.
As a result, all the money was flowing into that fund alone.
“Chairman, did CEO Jung Jin-ho say anything about this upcoming U.S. election?”
“Yes. CEO Jung said Trump will win.”
“…?”
All the executives tilted their heads in confusion.
No one was predicting a Trump victory right now.
And yet, he was saying Trump would win?
“Isn’t this the one time CEO Jung might be wrong?”
It’s not like someone can be right every time.
But if there’s one thing experience had taught them, it’s that they’ve never lost out by trusting Jung Jin-ho.
“Let’s be honest. If we put money into Hillary’s fund, do you think she’ll be grateful? There must be a truckload of companies throwing money in there besides us.”
But what if they put money into Trump’s side instead?
“Since almost no companies are betting on him, we’d probably leave a strong impression, wouldn’t we?”
“But Chairman, that only works under the assumption that Trump wins the election. If Hillary ends up winning just like this, won’t we be left high and dry?”
In other words, it could be a dangerous bet where they lose their money.
But if it succeeds?
If things went the way Kangseong Group wanted, they would gain an opportunity to further solidify and strengthen the semiconductor industry more than ever.
“They say you shouldn’t get addicted to betting on the underdog.”
But even Kang Sung-ho realized it.
The fact that his hands were already itching like this proved that he, too, was a gambler at heart.
***
“CEO-nim, I brought the materials you requested. These are the scenarios outlining what might happen if Trump is elected as president.”
“Ah, yes. Thank you.”
The United States is the most influential country in the world, so whoever is elected president can significantly shift the direction of the global economy.
That’s why it’s necessary to understand the policies and economic stance of the next likely president in order to prepare properly.
“If Trump wins, it’ll be complete chaos. Honestly, there’s no telling where things might go. The biggest issue for our country would probably be North Korea. Even though he hasn’t been elected yet, Trump keeps making aggressive statements about North Korea.”
“The one saving grace is that the chances of Trump actually becoming president are extremely low. But, sir, despite that, you still had us prepare these materials…”
Instead of answering, I gave a small smile.
And as if they understood what that meant, the staff let out sighs.
“If Trump is elected president, the first country to be affected will be here, Mexico. Especially the value of the peso is expected to plummet. That’s because Trump’s top campaign promise is to build the wall.”
It’s not the Great Wall of China or anything.
He declared he would build a high wall between the U.S. and Mexico to stop illegal immigrants from crossing over and even said it would solve the drug problem.
He didn’t hold back in saying that he would torment Mexico throughout his presidency if they failed to resolve their drug issues.
Naturally, if Trump were elected, the value of Mexico’s currency, the peso, would inevitably drop.
“But the peso is actually rising right now?”
“Yes. People there must believe there’s no chance Trump will be elected. It’s that optimistic sentiment causing the peso to rise temporarily.”
But what my instinct was showing me wasn’t the peso.
It was what the thread starting from the peso led to.
‘Rupiah?’
Indonesia’s currency, the rupiah.
And it was a color I had never seen before.
Not blue, not red, not gold, an inky black color was devouring the rupiah.
‘What does this mean?’
The black thread didn’t stop there.
It continued along its path, page after page, until it finally reached its destination.
Black, blue, red, gold.
Those four colors were tangled and blended together in chaos.
All of them converging on a single name that had barely even been mentioned in the research materials, almost just a passing footnote.
‘…Bitcoin?’
