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Game Tycoon C358 KiShin's strategic acquisition and announcement
🕑 Added 2024-01-18 04:37:19 +0000 UTCIn November 1997, amidst the turmoil of the Asian financial crisis, Japanese conglomerate KiShin embarked on a series of strategic acquisitions.
Targeting financially distressed South Korean chaebols (conglomerates) like Hyundai Motors and Lucky Gold Group, KiShin leveraged its substantial resources to acquire valuable assets at bargain prices.
These acquisitions, including notable deals for Hyundai Engineering & Construction, Kia Motors, and Korea Telecom, sent shockwaves through Korea. The government, understandably, viewed KiShin's activity with cautious scrutiny. Fearful of potential economic dominance and historical grievances resurfacing, some in Korea perceived the acquisitions as a veiled attempt by Japan to exploit their vulnerability during a time of crisis.
Consequently, as media outlets fueled public sentiment through pointed reports, protests arose against KiShin's involvement. However, it is evident that public opinion remained nuanced. While some Koreans saw KiShin's investments as a lifeline—an injection of much-needed capital, job creation, and potential economic recovery—others vehemently opposed it, viewing it as a loss of national sovereignty and economic self-reliance.
KiShin's primary motivation, beyond immediate financial gains, likely lay in strategic benefits: access to potentially profitable Korean companies, market share expansion, and regional economic influence. However, any claims of altruism or genuine economic support for South Korea required careful consideration.
Furthermore, KiShin's path wasn't paved with ease. Resistance emerged from diverse stakeholders—existing shareholders, labor unions, and the South Korean government itself. Successfully navigating cultural differences and managing public perception became crucial for the long-term success of these acquisitions.
Moreover, the Korean chaebols were often family-controlled, with strong networks of domestic shareholders and creditors. They weren't eager to relinquish control and resisted hostile takeovers.
Despite the challenges, KiShin was able to acquire 36.2 percent of Hyun-Motors & Construction, Kia Motors for 48 percent, and Korea Telecom for 9 percent.
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While KiShin was making a move in South Korea, in Japan and the USA, KiShin announced a KS1 Video Game despite the financial crisis—Final Fantasy VII.
Even though Japan was one of the countries affected in the 1997 Asian Financial Crisis, its economy was still experiencing an ongoing recession even without the financial crisis happening. Many people, especially in the working class, could still afford to buy video games as an escape from the cruel reality unfolding in front of them.
With the financial crisis happening, several countries outside Japan in Asia protesting, millions of people affected, resulting in various types of financial suffering such as being unable to pay bills, put food on their table, and more, the world seemed to turn a bit darker.
But video games serve as a momentary escape from reality for people.
The moment Final Fantasy VII was advertised on television, showcasing the fantastical world of Final Fantasy VII as a refuge from financial worries, it could resonate. Emphasize the emotional escape and immersive experience.
Magazines, in particular, highlighted the game's length, replayability, and additional content to justify the price. Consider offering early bird discounts or limited edition bundles with enticing extras.
Although KiShin hadn't officially released the video game "Final Fantasy VII" yet and had only announced it, the gaming community in the USA and Japan seemed quite excited.
Especially when they saw the graphics alone, they felt that Final Fantasy VII had a similar graphic quality to GTA III. Most Final Fantasy RPG gamers believed that the RPG video game would be amazing, and they were excited to see its release.
Meanwhile, the Asian Financial Crisis didn't hinder the "Game Awards of the Year" by the Electronic Gaming and GameFan Magazine. The venue remained at Carnegie Hall, and as before, it was broadcasted.
Various video games were nominated, and this time, KiShin's video games weren't as nominated as before. This was because most of KiShin's video games had already been nominated and had won awards in most categories the previous year.
Other video game companies were finally given the chance to win some awards in each category at the ceremony.
Surprisingly, the Game Awards of the Year went to the new Suzuki RPG Video Game "Justice Knight: Church."
The Suzuki video game developers' team of "Justice Knight: Church" received a standing ovation and applause from their fellow game developers.
Surprisingly enough, the Suzuki game developers looked quite young, and many found it interesting to see that numerous recent university graduates chose to work as game developers. This trend is beneficial for the video game industry.
These young individuals can undoubtedly develop excellent and exceptional video games, as evidenced by the game developers of "Justice Knight: Church."
But these people seem to forget the one most important person in the video game industry—the one who sparked the industry to success once more. Shinro Suzuki, at the age of 19, started and founded a company, KiShin, considered an inspiration to many young people today.
The young Japanese game developers of "Justice Knight: Church'' stood on the stage of Carnegie Hall, receiving praise from the host. These young game developers took great inspiration from the king of video games—Shinro Suzuki, the Yu-Gi-Oh of the video game industry.
However, little did they know that their idol would present them with a difficult challenge through the KiShin announcement of "Final Fantasy VII."
At the same time, perhaps inspiring them once again...
Comments
Akira light
Hope you get well soon~ best of wish from your neighbourly friend Duck-kun
KingSpy25i .
Thank you for the chapter, it was great! Also, I didn't know you're sick but I do hope you get well soon and Like always you're doing great.
GrimmDead92
Tftc and get well soon 😊
Rizky
hope for your fast recovery
