InkBound
patreon
CH264 | Heir
🕑 Added 2025-09-07 05:51:14 +0000 UTCA massive logistics warehouse.
In stark contrast, only a small number of employees.
And compared to the employees, a multitude of automated systems working nonstop.
Jeffrey proudly raised his voice as he showed me around the warehouse.
“What do you think? It’s not fully automated yet, but this setup cuts labor costs by over 30%.”
“Quite a variety of technologies are in use here.”
“The most helpful equipment is the forklift robots. Once the product codes and shipping
destinations are input, these forklifts automatically move the stored items to the shipping area.”
The toughest job at any logistics warehouse is always loading and unloading.
When products arrive from manufacturers, they need to be stored.
When orders come in, those products must be loaded onto trucks again.
This process typically requires a lot of manpower, but with forklift robots, they drastically reduced the need for labor.
“So, fewer forklift operators and loading staff are needed.”
“Exactly. And we also modified algorithms developed by Taewoo IT to create an automated inspection system, so even the inspectors’ roles have been cut down.”
“Have these automation systems been applied to other factories?”
“Not yet—only at this logistics warehouse. We’d like to expand, but for now, labor costs are still cheaper than installing automated systems.”
“So, once labor costs rise, you’ll expand automation.”
Labor costs in the U.S. are notoriously high.
For now, employing humans is still cheaper than deploying automation or robots.
But as time goes on, wages will inevitably rise, making automated systems the inevitable future.
“I’d like to see where the robotic arms are being used as well.”
“They’re used where the forklift robots can’t reach. Also, although there are still some issues, we’re experimenting with drones to move products.”
Many of these technologies could be applied in automobile factories as well.
Amazon was developing automation systems through collaboration with Taewoo-Kia Motors.
Plans were already in place to transfer technologies from Amazon’s warehouses to the car manufacturing plants soon.
“Though there’s still room for improvement, this setup is far more advanced than anything else we’ve seen so far.”
“Once the equipment, robots, and suitable algorithms come together, fully unmanned factories should be possible.”
“We aim to realize fully automated factories within ten years at the latest.”
“Taewoo Group is also planning massive investments. Let’s make it happen!”
I firmly shook Jeffrey’s hand.
Automation and robotics development were absolutely crucial for the future of Taewoo Group.
Apple, Amazon, and then Google, Facebook, YouTube, and others.
I went around the IT companies in which I held shares, having countless discussions.
From ongoing projects to new ventures about to start.
It wasn’t just talk.
We planned businesses worth tens of trillions of won and promised collaboration.
Before I knew it, time had flown by.
When I returned to SAVE Investment Company, Team Leader Han greeted me with a subtle smile and began his report.
“New Century Mortgage Company has filed for bankruptcy. And Bear Stearns is planning to announce losses on its mortgage-related investments.”
“This will have a huge impact.”
Bear Stearns was legendary on Wall Street.
It was ranked by Fortune as one of the most respected securities firms.
Its high credibility meant its troubles would cause even bigger waves.
“Even the credit rating agencies can’t stay silent anymore. If a major investment firm is publicly announcing heavy losses, how can they?”
“Soon, the credit ratings on subprime mortgage bonds will plummet.”
“That will turn our insurance holdings into gold — no, more valuable than diamonds.”
How much stress must they have been under?
The real estate market was worsening, but credit ratings had remained unchanged — until now.
Team Leader Han was effectively running SAVE Investment Company, so the pressure he must have felt was enormous.
“Boss! Dimon (FinTech Bank CEO) is here to see you.”
“Tell him to come in immediately.”
The impact from Bear Stearns must be huge.
Even Dimon, who had quietly been holding Silicon Valley’s fort, was rushing to Wall Street.
“Sir! The time has finally come. No one knows how much patience we’ve had to endure for this day. We’re going to devour all of Wall Street!”
“Breathe. And isn’t it a little harsh for a bank CEO to speak that fiercely?”
“I only say this in front of you, boss. Where else would I say it? Ah! And I’m late with my greetings. It’s been a long time. I wanted to visit Korea several times to see you, but held back and waited patiently.”
Dimon’s eyes were bloodshot.
Eyes burning with vengeance, but a smile lingered on his lips.
His fierce look reminded me of a Joker, but having spent a long time with Dimon, it didn’t feel out of place.
“If you rush, you’ll get indigestion. You have to eat slowly, little by little. Even if we don’t want to, the fruits will find their way into our mouths.”
“Honestly, I want to go around Wall Street’s financial firms right now, insurance certificates in hand.”
“If you act now, you’ll only get 3 to 4 times the gain. To get at least 20 times the profit, you have to wait a bit longer.”
Only one investment firm was shaking so far.
For the insurance we hold to become worth gold, even Wall Street’s biggest financial firms must be shaken.
“That’s why we’re holding back.”
“The CITI Group won’t be spared from this crisis. In fact, it will be one of the hardest hit financial firms.”
“We’ve been monitoring CITI Group 24/7. They’re about to start massive layoffs — reportedly letting go of as many as 20,000 employees.”
CITI Group was the world’s largest financial conglomerate.
Not only in the U.S., but also in the U.K. and Asia, it wielded tremendous influence and employed a huge number of people.
More employees meant higher labor costs.
And when a company is in trouble, the first thing they want to cut is labor costs.
“How big are CITI Group’s losses related to subprime?”
“The estimated loss is at least 60 billion dollars. CITI Group’s cash reserves won’t be enough to cover it.”
That loss translated to roughly 70 trillion won.
Even for the world’s largest financial group, absorbing a 70 trillion won loss was almost impossible.
Being a financial institution, such a huge loss would trigger an even greater ripple effect.
Dimon wore a victorious smile.
Beside him, Team Leader Han cautiously added,
“We’ve also been contacted by CITI Group. They want to sell off their subprime mortgage-related assets.”
“They’re trying to dump the bomb on us. Want to meet them? Seems like a perfect chance to look down on CITI Group.”
“If I get involved now, it’ll be just looking down on them. To really crush them, the situation needs to get worse. I’ll step in a bit later.”
Though blinded by revenge, he did not lose his cold judgment.
CITI Group still had some strength left, and Dimon planned to appear once they had exhausted it all.
“Then hold on a little longer in Silicon Valley.”
“I didn’t come here just for a visit. The Federal Reserve is soon gathering major banks for a meeting. It will probably be about interest rates.”
“It’s about time they pull the interest rate cut card. Let the Fed do whatever it wants. Whatever they do, the fire that’s been lit won’t be put out.”
“Understood. I’ll come back after the bomb goes off.”
Dimon moved to Washington.
Next time he returned to Wall Street, he would no longer be a bank CEO — he would be the Grim Reaper.
The insurance certificates held by Dimon’s fintech bank on subprime mortgage bonds would be the scythe of death.
I had been spending a long time in the United States.
But that didn’t mean I could neglect the situation in Korea, so the Planning Director came to the U.S. regularly to report important matters.
“Planning Director, you look very tired. Sorry to have made you come all the way to America.”
“It’s not the flight that’s tiring at all. In fact, I’m grateful. Work has been so busy lately that I haven’t had a chance to rest. At least on the plane, I could catch some sleep.”
He was clearly exhausted.
Since I was in the U.S., there was only one person who could be making him this tired.
“Is grandfather giving you a hard time?”
“It seems the chairman has regained his prime. He’s more passionate about the company’s work now than ever before. He’s personally overseeing every detail of all the affiliates and goes straight to the field whenever a problem arises.”
It was thanks to my grandfather that I could stay on a long-term business trip in America.
It might sound a bit rude, but my grandfather was the only person I could truly trust.
“Good to hear everything’s fine.”
“The chairman told me to be sure to pass this message to you: ‘I’ll take care of Taewoo Group. You focus on your work in America. Whether it takes one year or two, just finish things perfectly and come back.’ He also told me not to report anything to you unless it’s very important.”
That was reassuring beyond words.
Sometimes I felt like I had come to the U.S. too early, and even thought about returning briefly to Korea.
But grandfather’s words completely erased those uneasy thoughts.
“Please tell him I will finish everything perfectly and come back. And when I return to Korea, Taewoo Group’s size will have doubled from what it is now.”
“Doubling the size of Taewoo Group? It’s already one of the largest groups in the world. How could it double in such a short time?”
“That’s exactly why I’m staying in America long-term. I can’t reveal the detailed plans yet, but you can look forward to it.”
I gave the Planning Director a hint of the big picture I was envisioning.
Of course, it was hard to believe at this point, but I had already completed the sketches.
Trusting my grandfather, I spent a year in the United States.
During that time, many significant events unfolded.
Bear Stearns announced huge investment losses.
Multiple mortgage lenders filed for bankruptcy protection.
The U.S. Federal Reserve announced interest rate cuts.
Big headlines like these broke almost every month.
And today, an even bigger, decisive piece of news hit.
“Boss! The U.S. Congress just announced a stimulus package exceeding $160 billion.”
“$160 billion won’t be nearly enough. It’s just like pissing on an ice block — totally ineffective.”
“There’s more. Rumors are spreading that Lehman Brothers might file for bankruptcy.”
Finally, Lehman Brothers began to tremble.
The subprime mortgage crisis was also called the Lehman Brothers crisis.
The time for sowing and nurturing was over, and the season of harvest had come.
