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CH288 | GSI
🕑 Added 2025-04-07 03:33:53 +0000 UTCSumitomo Corporation Headquarters, Chuo Ward, Tokyo, Japan
Inside the spacious conference room, a large group of reporters had gathered as Ito Masanao, the president of Sumitomo Corporation, entered alongside Kubori, the CFO, and Hashimoto, the head of the Non-Ferrous Metals Division.
Click! Click! Click!
Amidst a barrage of camera flashes, the three men walked up to the podium, their faces rigid with tension.
Despite the sudden announcement of this emergency press conference earlier that morning, over thirty journalists had already filled the seats, while multiple ENG cameras from major television networks stood positioned at the front.
A PR staff member standing beside the podium leaned into the microphone and spoke.
"We will now begin the emergency press conference with President Ito Masanao of Sumitomo Corporation."
With a stiff expression, President Ito stepped forward, leaving the other two standing behind him.
His eyes darkened as he glanced at the row of microphones on the table, each bearing the logo of a different broadcasting station.
When he looked up, he saw the journalists watching him intently, voice recorders and notepads in hand, waiting for him to speak.
After a brief silence, Ito cleared his throat and forced himself to begin.
"The reason for this sudden press conference is to report a serious matter to our shareholders and the public."
His voice was heavy as he continued.
"It has been confirmed that Takashi Sugihara, head of the Non-Ferrous Metals Department, engaged in unauthorized speculative trading in violation of company regulations for over ten years, primarily in the London Metals Exchange and other international commodity markets. As a result, losses exceeding $2 billion were deliberately concealed."
The room erupted. The journalists, who had been mechanically jotting down notes, were visibly shaken by the staggering revelation.
"Did he say $2 billion in losses?"
"That’s even bigger than last year’s Daiwa Bank New York branch fraudulent bond trading scandal!"
"Sugihara from the Non-Ferrous Metals Division—wasn’t he the famous 'Mr. 5%'?"
"How could the company not have discovered a decade-long fraud?"
As the reporters, their eyes glinting with curiosity, exchanged excited whispers, they straightened their postures and focused intently on President Ito’s statement.
"An internal investigation is currently underway. We have obtained confessions from Takashi Sugihara and other involved parties regarding their unauthorized transactions, and we will be taking disciplinary actions, including dismissals."
Having delivered his prepared statement, President Ito looked up at the cameras and journalists before him, his expression heavy with regret.
"As the head of Sumitomo Corporation, I deeply apologize to the public and our shareholders for failing to properly oversee our employees, resulting in this unfortunate incident. We will do everything in our power to resolve this matter as swiftly as possible and minimize any further damage. Furthermore, we promise to implement measures to ensure that such an incident never occurs again."
Then, standing beside CFO Kubori and Division Head Hashimoto, Ito bent forward at a precise right angle, offering a formal bow of apology.
The moment they bowed, a chorus of camera shutters filled the room, capturing the scene in rapid succession. Flashbulbs erupted like fireworks, illuminating the three executives standing at the podium.
At the same time, the assembled journalists shot up from their seats, thrusting their hands into the air as they bombarded the executives with questions.
"How did you first discover the fraudulent transactions?"
"With such a massive loss, are you certain that the head of the Non-Ferrous Metals Division acted alone?"
"Is there a connection between this scandal and the recent short-selling activity by foreign hedge funds?"
"Can you provide specific details on the speculative trades involved?"
Like a pack of ravenous wolves closing in on their prey, the reporters launched a relentless barrage of questions.
Standing at the podium, Ito felt utterly exposed, as if he had been cast into a battlefield without armor. He clenched his jaw, biting down on his lower lip, his head still bowed in shame.
* * *
Digital Wave Headquarters
A few days later, Ahn Byung-seok, the CEO of Digital Wave, held in his hands the prototype of the world's first MP3 player, freshly completed only days ago. Turning to Yoon Nam-ho, his former university junior and the head of the development team, he asked,
"To make this practical, we’ll need to develop a separate data transfer chip, right?"
Yoon Nam-ho, who had been monitoring an oscilloscope alongside another researcher, turned his chair around and responded,
"To transfer MP3 files from a computer to the player, we have to use a parallel port. But parallel ports were originally designed for printers, which means they only support one-way communication. Since the MP3 player requires bidirectional data transfer, we’ll have no choice but to develop a new chip."
"Exactly," Ahn agreed.
At this point in time, USB ports had yet to become mainstream, leaving parallel ports as the only viable method for data transfer.
Setting the prototype down on the table, Ahn clicked his tongue in frustration.
"That means additional development costs."
"If money were the only issue, that would be manageable. But we also need more developers. Right now, the team is already overworked—they barely make it home once every two or three days. If we add more tasks, it’ll push them past their limit," Yoon responded, his expression serious.
In reality, the entire development team, including Yoon, had been working non-stop, pulling all-nighters and essentially living at the office. The concept of weekends had long disappeared, with the team working seven days a week to bring the MP3 player to life.
But Ahn Byung-seok was not the kind of CEO who simply issued orders from behind a desk. As an engineer himself, he led by example, often sleeping in his office with a sleeping bag, fully immersed in the project alongside his team.
Recognizing the urgent need for additional manpower, CEO Ahn Byung-seok nodded in agreement.
"Try to recruit three or four more researchers who specialize in chip design."
"I already gave Professor Joo a call and asked him to recommend any promising developers he knows," Yoon Nam-ho replied.
Seeing Yoon take the initiative without needing direction, Ahn smiled approvingly and gave him a thumbs-up.
"Good job. That’s why you’re my right-hand man."
"If that’s the case, how about giving me a raise instead of just saying nice things?"
At Yoon’s dry remark, Ahn averted his gaze and quickly changed the subject.
"By the way, President Park from Daheung Venture Capital is supposed to visit this afternoon. I wonder when he’ll arrive."
Yoon narrowed his eyes, annoyed at Ahn’s obvious attempt to dodge the salary talk, but before he could say anything, the door to the development lab swung open.
Following an employee’s lead, Seok-won entered the room with Han Ji-sung by his side.
"Oh! President, welcome!"
Ahn Byung-seok immediately sprang up from his chair and rushed forward.
"It’s been a while. Looks like everyone’s been working hard," Seok-won said warmly.
"Thanks to your generous support for development costs, we’ve been able to focus solely on the project without worries," Ahn replied, rubbing his hands together with a grateful smile.
"Still, developing something entirely new—something no one has ever made before—isn’t an easy task."
Seok-won’s words carried genuine appreciation, and his smile reflected his admiration for the development team’s hard work and dedication.
Hearing this, Yoon Nam-ho and the other team members, who had paused their work and stood up to greet him, felt deeply moved. It wasn’t every day that their efforts were acknowledged so sincerely.
Seeing their reactions, Seok-won’s smile widened.
"You’ve all been working so hard, and I can’t help much with the technical side, so I brought some snacks instead."
At his signal, Han Ji-sung set down the plastic bags he had been carrying, which were packed full.
Ahn Byung-seok sniffed the air, his expression suddenly lighting up.
"Wait… that smell—!"
Then, as if struck by realization, his face broke into a grin.
"This is fried chicken, isn’t it?!"
"I brought enough for everyone, including the staff outside—thirty whole chickens, freshly fried. And I didn’t forget cold canned beer to go with it."
"Oh, you really didn’t have to go that far… but thank you so much!"
The mouthwatering aroma of fried chicken quickly filled the development lab, and the team members, unable to resist, licked their lips in anticipation.
"Wow, this looks amazing! Thank you!"
Watching his team gather excitedly around the table, Seok-won smiled softly.
"Chicken isn’t as good once it gets cold—so dig in while it’s hot."
"Yes, sir!"
"Thank you."
With chicken in one hand and a can of beer in the other, the employees looked like the happiest people in the world.
Meanwhile, Seok-won and Ahn Byung-seok moved to the CEO’s office to continue their conversation, giving the employees space to enjoy their meal.
"This is the prototype of the MP3 player we’ve developed," Ahn said, presenting the device to Seok-won, who sat across from him.
With great interest, Seok-won carefully picked up the prototype and examined it.
It was a palm-sized device, slightly smaller than a Walkman. Focused purely on functionality, it lacked a display and had a rather bulky design.
"It has 16 megabytes of memory, allowing it to store and play up to ten songs."
"Does this button start playback?"
"Yes, that’s correct."
Seok-won put on the earphones and pressed the play button.
A lively, upbeat song from a male dance duo who had debuted that spring and taken the music scene by storm began playing.
As Seok-won listened with his eyes closed, Ahn Byung-seok anxiously observed his reaction before hesitantly asking,
"What do you think?"
Removing the earphones, Seok-won glanced at Ahn and Yoon Nam-ho, both looking as nervous as students awaiting their test results. Then, he broke into a wide grin.
"It’s impressive. The fact that you achieved this in just a few months makes me even more certain that my investment was the right decision."
At those words, Ahn and Yoon, who had been holding their breath in suspense, finally let out a sigh of relief.
"However, the audio quality seems noticeably inferior compared to cassette tapes. That’s a bit disappointing."
Placing the prototype back on the table, Seok-won pointed out the issue.
"We’re aware of that, and we’ve been trying to find a way to improve it, but it’s not easy," Ahn admitted, looking troubled.
Watching Ahn’s concerned expression, Seok-won recalled something he had read about MP3 technology before his return.
"There’s a German company called Micronas that developed a DSP chip for broadcasting MP3 files via satellite. What if you tried using that?"
"There’s such a chip?" Ahn’s eyes widened in surprise.
"I can get you a few samples if you’d like."
"That would be amazing! We’d really appreciate it!"
Leaning forward eagerly, Ahn nodded with enthusiasm. True to his engineer’s nature, he was practically itching to try it out.
Seeing his excitement, Seok-won smiled slightly.
"I’ll get them to you as soon as possible."
"Thanks to you, we might just solve one of our biggest challenges!" Ahn exclaimed, his delight unmistakable.
"Let’s hope so."
As Seok-won absentmindedly fiddled with the prototype on the table, his gaze turned thoughtful.
"Developing an MP3 player itself is an impressive feat, but to make it a marketable product, there are still many areas that need improvement."
"You're absolutely right. While we've succeeded in making MP3 files portable and playable, we still have a long way to go before commercialization."
Ahn Byung-seok responded with complete honesty, without trying to hide anything.
"Achieving this much progress in such a short time wasn’t easy, but I’m sure you’ll be able to refine the deficiencies and eventually bring it to mass production."
"Hearing you say that really gives me motivation."
"I’ll help in any way I can, so if you need anything, don’t hesitate to ask."
At those words, Ahn Byung-seok bowed his head sincerely in gratitude.
"I will. Thank you."
After continuing their discussion for quite some time, Seok-won finally left Digital Wave, escorted out by Ahn Byung-seok and Yoon Nam-ho.
Settling into the plush leather seat in the back of his car, Seok-won gazed out the window. Just then, he felt a vibration from inside his jacket. Taking out his phone, he answered the call.
[Boss, have you heard the news?]
Hearing Landon’s urgent voice, Seok-won furrowed his brows in curiosity.
"What are you talking about?"
[Just a moment ago, Sumimoto Corporation officially announced that their Non-Ferrous Metals Department head had been engaging in fraudulent trading for nearly ten years, resulting in losses exceeding $2 billion!]
As expected, Sugihara’s illicit trading had finally been exposed. Seok-won’s eyes gleamed as he asked,
"How is Sumimoto’s stock price reacting?"
[The moment the news broke, it plummeted by over 5%, and copper prices—both spot and futures—are also crashing.]
At last, the time had come to reap the rewards of his patience. With the phone still pressed to his ear, a deep smile spread across Seok-won's lips.
