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CH181 | GSI
🕑 Added 2025-03-02 03:40:01 +0000 UTCDressed in a perfectly tailored navy suit and horsebit loafers, Seok-won arrived at his office, carrying a leather briefcase in one hand.
From head to toe, everything he wore was Gucci, making him look as though he had just stepped out of a fashion editorial.
While his preference for Gucci had increased after fully acquiring the brand, he also wore it frequently because Tom Ford had gifted him a custom-made wardrobe after Seok-won had modeled for the brand’s menswear campaign.
As he stepped into his private office, he noticed Na Seong-mi, who had come in early to tidy up and organize his desk. Smiling, he greeted her first.
“Good morning.”
“Welcome, Director.”
Na Seong-mi returned the smile and gave a polite nod.
Seok-won placed his briefcase on the desk and took off his jacket. Immediately, Na Seong-mi stepped forward, took it from him, and carefully hung it in the wardrobe to prevent wrinkles.
“Would you like some coffee?”
“Yes, please.”
“I’ll bring it right away.”
With a bright response, she stepped out of the office.
As Seok-won retrieved some documents from his briefcase, his eyes landed on the neatly folded morning newspaper that Na Seong-mi had prepared. He picked it up and read the bold headline on the front page.
[New Era National Assembly Officially Launched!
The New Era National Assembly held its founding convention yesterday at the Olympic Fencing Arena, appointing Kim Jae-chun as its chairman and officially declaring its formation.
With this, the party has overtaken the Minpyeong Party, securing its position as the largest opposition party in the National Assembly.
This political shift is expected to reshape the landscape, with the nation’s affairs once again being dominated by the “Three Kims.”
In his inaugural speech, Chairman Kim Jae-chun stated, “There are numerous pressing national issues that must be addressed, and with the founding of the New Era National Assembly, it is time to redefine relations with both the Blue House and the ruling party.” He then proposed an immediate meeting with President Kim Seong-gyu.
In response, the Blue House congratulated the new party through its spokesperson and announced that a meeting between President Kim Seong-gyu and Chairman Kim Jae-chun would be arranged soon.
Meanwhile...
As he stared at the accompanying photograph of Kim Jae-chun on stage, holding a bouquet and beaming with confidence, Seok-won muttered to himself.
“The second act of the Three Kims era begins.”
At that moment, a knock sounded, and Na Seong-mi entered, setting down a tall glass of iced Americano.
“Thank you.”
“No problem. Do you need anything else?”
“I’m good. Get back to your work.”
“Then I’ll take my leave.”
With a tray tucked under her arm, she stepped out.
Seok-won folded the newspaper and pushed it aside, taking a sip of his iced Americano. The strong, unsweetened brew was just to his taste, bringing a satisfied smile to his lips.
Just then, his phone vibrated. He picked it up immediately.
“Yes, this is Park Seok-won.”
[Boss, it’s me.]
The familiar voice of Landon came through the receiver.
Leaning back comfortably in his chair, Seok-won asked, “What’s the matter this early?”
[The Netscape stock sale you ordered has been completed.]
Hearing the long-awaited news, Seok-won’s eyes gleamed with interest.
“You did well. Seeing how quickly things wrapped up, it looks like the block deal went smoothly.”
Even with Andrew and the skilled traders at Eldorado Fund, offloading a 30% stake in Netscape on the open market without causing a price crash within just a month or two was no easy feat.
A block deal was the best way to sell off a large volume of shares quickly while minimizing market impact.
[Yes. As you know, Microsoft released a new web browser alongside Windows 95. However, contrary to concerns, it didn’t have a major impact, which allowed us to complete the block deal smoothly.]
When Windows 95 was first launched, Microsoft hadn’t included a built-in web browser, as they were too focused on developing the new operating system.
However, in August, they released the Windows 95 Plus Pack, which introduced their own web browser—Internet Explorer.
“I tried Internet Explorer myself, and I have to say, it falls short in many ways compared to Netscape.”
[That’s right. It’s slow to connect to the internet, and more importantly, it crashes frequently. Netscape is far more user-friendly and reliable.]
Seok-won nodded while holding the phone to his ear.
“They managed to develop their own browser using Mosaic’s patents and technology license, but since they rushed to release it in just a few months, it’s bound to have rough edges.”
[Even so, Microsoft has a powerful brand name. People had high expectations, but they were let down by this release.]
“If they had taken a bit more time to refine it, they could’ve launched a much better product. It’s a shame.”
[That just proves how nervous Bill Gates was watching Netscape’s rapid rise.]
The emergence of Netscape had triggered a much faster and more dramatic expansion of the web environment than Microsoft had anticipated. Seeing this, Bill Gates, Microsoft’s founder, felt a deep sense of urgency.
‘As if to stir things up even more, Time magazine ran a cover story featuring both of them side by side, openly portraying them as rivals. There’s no way he could ignore that.’
Because of this media hype, expectations for Microsoft’s web browser had skyrocketed, but in the first round of competition, Netscape won decisively.
[Thanks to that, hesitant investors saw the disappointing reception of Microsoft’s browser and rushed to take part in the block deal. We were able to sell at an even higher price than initially expected.]
“How much did we sell for?”
[We sold the remaining 10% stake at $107 per share, splitting it evenly between NTT and CalPERS.]
CalPERS (California Public Employees’ Retirement System) was the largest pension fund in the U.S., managing retirement and healthcare benefits for California’s public employees.
“So, we got $2 more per share.”
[Considering that Netscape closed today at $111.32 per share, even at that price, the buyers still got a good deal.]
Landon’s voice carried a hint of regret.
“We made a solid profit and exited at the right time. There’s no reason to have any regrets.”
[I know, but… seeing the stock price keep climbing, I can’t help but think we could’ve held on a little longer.]
Seok-won understood the feeling all too well. When he first started investing, he had often experienced the frustration of selling a stock only to watch it keep rising.
‘And every time I bought back in, the price would inevitably crash, wiping out my account.’
Through multiple hard-learned lessons, Seok-won had come to a realization—never be too greedy, and once you sell a stock, never look back.
Especially since he already knew that Netscape’s fairy-tale Cinderella story wouldn’t have a happy ending, but a tragic one instead.
Hiding his mixed emotions, Seok-won adjusted his grip on the phone.
“It must’ve been tough to offload such a large volume. You did well. Pass my thanks to Andrew as well.”
[Will do.]
Landon then suddenly recalled something.
[By the way, have you checked Cisco’s stock price today?]
“It passed $50 per share.”
Seok-won replied calmly.
[Cisco’s stock is skyrocketing just like Netscape’s. You predicted it would surge, but I never expected it to perform this spectacularly.]
Hearing Landon’s voice filled with admiration, Seok-won smirked and answered nonchalantly.
“Cisco, as the number one network equipment provider, is going to be selling the picks and shovels in the coming internet era. It’s only natural that they’d reap the rewards.”
[That’s true. But recognizing that before everyone else and boldly investing ahead of the curve is no easy feat.]
Landon’s repeated praise made Seok-won chuckle.
“Don’t flatter me too much—I might get dizzy.”
[I mean it sincerely.]
Landon responded earnestly before getting back to business.
[The management mentioned yesterday that if the stock keeps rising at this rate, they’re considering a 4-for-1 stock split.]
“If the price gets too high, it becomes harder to trade. A split wouldn’t be a bad move.”
Seok-won nodded in agreement.
[Uh… Cisco has already tripled in value. You’re not planning to sell it too, are you?]
“I intend to hold onto Cisco for the time being.”
At that, Landon let out a sigh of relief.
[I was secretly worried you might sell this one too. Good to hear you’re holding.]
“Unlike Netscape, Cisco doesn’t have a serious competitor yet, and the internet revolution is just beginning. Selling Cisco now would be plain foolish.”
[Exactly what I was thinking!]
“Haha. At the very least, I’ll hold onto it until I’m convinced it has reached its peak.”
As he spoke, a thought crossed Seok-won’s mind.
‘Cisco is going to ride the dot-com bubble’s tidal wave and become the world’s most valuable company. There’s no way I’d sell now, just when the climb is beginning.’
Back when the dot-com bubble peaked in 2000, Cisco had been at the center of a euphoric market, with analysts predicting it would be the first company to surpass a $1 trillion market cap. Its price-to-earnings ratio (P/E) had soared to an astronomical 205 times, reflecting extreme overvaluation.
‘But just like the Tower of Babel in the Bible, the dot-com bubble, inflated by human greed, eventually burst, and everything collapsed in an instant—as if it had all been a lie.’
Even Cisco, which had once reached the pinnacle as the world’s most valuable company, was not spared. When the dot-com bubble imploded, its stock price crumbled without resistance, plummeting to a tenth of its peak value.
A sheer cliff awaited in the future, but until then, an astronomical surge in stock prices was inevitable. Seok-won planned to ride that wave to its fullest before making his exit.
[Oh, and the third private jet you ordered has completed all its test flights.]
“I see.”
The jet he had commissioned as a gift for his father was finally ready.
[The crew has also been hired, and it’s ready for use anytime. What would you like to do?]
“Send it to Korea right away.”
[Understood.]
After exchanging a few more words, Seok-won ended the call and set his phone down, recalling a detail from his memory.
“This month… Father mentioned he had a business trip to China, didn’t he?”
A smile tugged at the corners of his lips as he murmured to himself.
“Perfect timing.”
With that, he picked up his phone again and dialed another number.
After a few rings, a voice answered. It was Gil Sung-ho, his father’s chief secretary.
[Yes, hello?]
“Mr. Gil, it’s Seok-won.”
[Ah, young master, what brings you to call?]
“My father is scheduled for a business trip to China at the end of this month, correct?”
[Yes, that’s correct.]
A playful smirk formed on Seok-won’s lips.
“There’s something I’d like to ask of you.”
