By the time 2005 had passed ten months, it was already late in the year.
With a cool breeze in the air, Team Leader Han returned to Korea for a short visit.
"Team Leader Han! You look great. I take it the in-flight meals suited your taste?"
"Every time I fly first class, it makes me feel like I've truly succeeded. I love it."
"It's been a while. You've aged quite a bit."
Captain Kang also greeted him warmly.
We met at the restaurant run by Captain Kang, so it was only natural for him to join us at the
table.
The restaurant was guarded by his staff positioned discreetly around us, and with excellent food, it was the perfect place for a confidential meeting.
"Captain Kang—ah, should I be calling you CEO Kang now? I hear you're running a security
company, a taxi business, a chauffeur service, even a rental company. You're no CEO—you
should be called Chairman at this point."
"I'm flattered. But this is all thanks to you, sir. I just kept following you diligently, and here we are."
Team Leader Han looked at him with admiration.
Even though Han made dozens of times more annually than Kang, once someone reached a
certain level of wealth, titles and status started to matter more.
"Don't be too jealous. In two or three years, you'll be back in Korea with an even bigger title."
"I'm holding out in the U.S. just for that day."
"Well, if you want to return quickly, the U.S. real estate market needs to wobble a bit. How's the situation over there?"
Team Leader Han straightened his posture.
Captain Kang, sensing the change in atmosphere, tactfully left the room.
"This year alone, the U.S. real estate market has gone up over 10%. If this continues, it's
expected to rise over 15% by year's end."
"So the bubble is inflating even more."
"Not just us—even other institutions are voicing concerns about the overheated market. But the banks… I don't know if they're pretending not to see it or they really don't know—but they're still aggressively offering mortgage loan products."
A massive explosion wasn't far off.
In the previous timeline, the bombs had started going off in 2007.
But with SAVE Investment Bank and Dimon's fintech bank entering the scene this time, the crash might come even sooner.
"What about insurance products? If the banks had any brains, they'd stop taking on more
insurance-linked risk by now."
"I thought the same thing, but so far, things are holding up. In fact, for the highest-rated mortgage loan insurances, the banks themselves are asking if we'd be interested in signing on."
"They're convinced AAA-rated securities are completely risk-free, huh."
"That's why both SAVE Investment and the fintech firm signed on for massive volumes of AAA-rated insurance products."
AAA—supposedly the absolute safest credit rating available.
Of course, the banking sector placed its trust in AAA-rated securities.
But when the credit rating agencies themselves were rotten to the core, those ratings were nothing more than fancy wrapping paper.
"No matter how pretty the wrapping is, it can't turn rotten meat into fresh cuts."
"By next year, the housing bubble in the U.S. will exceed two trillion dollars. If a bomb that size explodes, the chain reaction could swell it to over four trillion."
Four trillion dollars.
That was more than 4,000 trillion won.
Considering the U.S. annual budget hovered around six trillion dollars, this was nearly two-thirds of it—a staggering amount.
To contain the explosion, the government would need to inject most of the national budget into the real estate market. Even the U.S. government wouldn't be able to handle that.
"If the insurance payouts go through properly, how much profit are we looking at?"
"Maximum estimate is over 200 billion dollars. But realistically, the chances of receiving the full amount are almost zero. We're expecting to collect around 50 billion dollars."
"Fifty billion dollars... that's over 50 trillion won."
"That's the combined estimate for SAVE Investment and the fintech bank."
A pot worth at least 50 trillion won.
If they could somehow collect the full face value, the total could reach 200 trillion won.
But that was clearly unrealistic. It was important not to get greedy.
"Even unpaid claims can serve as a strong bargaining chip, so it's not a loss either way."
"Exactly. That's why we continue to purchase insurance policies, even knowing we won't see full payouts."
The U.S. real estate bubble was unfolding exactly as planned.
And since there was still a year or two before it burst, it was time to shift the topic quickly.
"Keep proceeding with the insurance strategy. What about our electric vehicle development?"
"The first prototype is nearly complete. We'll be ready for an official announcement by March next year."
"And even with Musk practically living in the Marshall Islands, things are progressing
smoothly?"
"That's thanks to the large team we've deployed, and also because Musk is still supporting the project via phone and video calls—even from the Marshall Islands."
Musk truly was an extraordinary figure.
Developing rockets in a remote location while simultaneously overseeing electric vehicle
development—it was nothing short of remarkable.
"It's a relief that EV development is moving along so quickly."
"It's also thanks to your early investments in the battery business. Right now, we're practically the only ones who can manufacture batteries for electric vehicles."
"Our money-guzzling monster is finally earning its keep."
"It's been earning its keep for a few years already. We practically dominate over 70% of the
batteries used in smartphones. Other companies are quickly trying to enter the battery market, but they've still got a long way to go to catch up. And since we hold the patents, even if they succeed, they'll have to pay us massive royalties."
The battery market was only just beginning.
Once smartphone adoption truly took off and electric vehicles became commercially widespread, the battery industry would experience explosive growth.
That's why securing raw materials in advance was a priority.
"We have to keep widening the technological gap if we want to generate bigger profits. So don't hesitate—continue making bold investments."
"We're already seeing a positive feedback loop. Researchers and recent university graduates who want to work on battery technology are choosing our company as their top pick. Since we're offering the industry's highest salaries, top-tier talent is naturally gravitating toward us."
"Expand the factories as well. We already dominate the Korean market with Taewoo Battery, so that's covered. But we should start planning for battery plants in China, Southeast Asia, the U.S., and Europe."
"Doing it all at once carries huge risks."
Building even a single factory cost at least 500 billion won.
Constructing four new plants would require an investment nearing 2 trillion won—but that
money didn't need to be paid upfront. With funding spread over several years, starting now would be more than feasible.
"Just scouting sites and negotiating with governments or local authorities will take about a year. We'll probably finalize contracts after the U.S. real estate bubble bursts. By then, we'll be swimming in money."
"Now I understand what you meant. I'll begin the groundwork for the new battery plants right away."
"Oh, and there's someone I'd like to invite to Korea. Could you ask David to handle it?"
Team Leader Han flinched in surprise.
Probably because I almost never invited anyone to Korea personally.
"One of the games from Blizzard Games—the studio we hold the largest stake in—has a system where users can create custom maps, allowing entirely new genres of gameplay to emerge."
"I'm aware. I occasionally play Starc with the staff for friendly wagers."
"It's not Starc , but there are other developers who've been creating custom maps for a different game. I'd like to invite them to Korea. There's a big game expo coming up in Busan, so we'll have a solid reason to bring them over."
Games were an important pillar of the cultural industry.
In fact, they had even greater ripple effects than movies, dramas, or music.
That's why having Taewoo Group hold the IP rights to a game that could dominate the industry for the next 20 years wouldn't be a bad investment at all.
Starc 's popularity remained unrivaled in Korea.
In fact, it was growing stronger each year. Over 100,000 spectators gathered for this year's finals in Gwangalli, further cementing the game's status as a true national pastime.
Especially notable was the Telecom Showdown.
With Taewoo Telecom's pro team facing off against KS Telecom's team in the finals, even more spectators were deeply invested in the match.
I sat in the VIP section, watching the scene unfold alongside my invited guests.
"What do you think? Quite a different vibe from the U.S., isn't it?"
"I can see why Korea is called the birthplace of e-sports. In the U.S., gaming is still seen as a
subculture for nerds, but here, it feels like a mainstream cultural phenomenon. I love it."
The person I was speaking with was Elian, a custom map developer.
He was still a university student, which made him even more excited to be watching the Starc
finals live.
Beside him, another custom map developer—one who had worked on a similar genre—was also cheering loudly and enjoying the match broadcast.
"I find the new genre of games you're creating through these user maps very intriguing."
"It's an honor to hear that from you, Mr. Kim. Oh, and I really enjoyed watching the iPhone
launch event you did with Steve."
As expected of game developers, they had a strong interest in IT.
Naturally, they knew all about the product launch event I did alongside Steve.
"How would you feel about developing your custom map game into a full-fledged title—with
me?"
"To make it an official game, we'd have to start completely from scratch. If Blizzard Games
doesn't support us, it could take years."
"As for that part—I've already secured full support from Blizzard Games. So, instead of just being a user map creator, how about becoming the true creator of a new game?"
I was Blizzard's largest shareholder.
David had already visited their headquarters and obtained an agreement, so we could move
forward without any copyright issues and turn this new genre into a standalone title.
"Blizzard really promised support?"
"Yes. If you'd like, I can show you the contract."
"…In that case, would we also receive funding for game development? When I made the custom map, I didn't make a dime, and it made things a bit awkward for me."
"That goes without saying. We'll provide an initial investment of $10 million. In return, you'll need to share some of the game's equity with me and Blizzard."
At the mention of $10 million, the developers' eyes lit up.
They were still students—when would they ever have seen or even dreamed of 10 billion won?
Naturally, they didn't care too much about the equity split.
"Of course we'd give you a share. I'd be happy just to have the chance to create a new game."
"I'll take 40% equity, Blizzard will hold 20%, and the remaining 40% will be split evenly among all the developers."
"You're giving us that much equity? We're in—no questions asked!"
On the same day as the historic Starc finals, a historic contract was signed.
It was an agreement with the developers who would go on to popularize a new genre of games known as AOS.
TL/n –
AOS (Aeon of Strife) or MOBA (Multiplayer online battle arena ) is a real-time strategy/
tactical siege game genre in which players select one character and battle on a given map, level up and increase skills, equip items to strengthen the hero, and destroy the opposing camp.