America: My Time

Chapter 1548 The counterattack begins

Chapter 1538 The Counterattack Begins

The real battle has just begun. Those guys thought they could get benefits from John and snatch market share from the Koreans. They were just overthinking it. The Koreans' disaster has only just begun, and the pressure they face is far from over. In their eyes, John's 'coercion' is tantamount to giving up the market. But they will soon understand what terror is. They will soon face a terrible crisis!

When John saw the notice from South Korea, the notice from those energy companies that they would abandon their cooperation with Asian energy companies and cooperate with American energy companies instead, a smile appeared on his face. This was the result he wanted. Although he was cutting off the energy supply to South Korea, he did not cut it off directly, but in various ways and provided certain compensation. However, the compensation was all implemented through companies that he completely controlled.

Although John went a bit too far, his reasons were perfectly valid and could withstand scrutiny. However, now that the Koreans have breached the contract, it is their fault. John only exploited loopholes in the contract, but the Koreans have blatantly broken the contract. They need an explanation. They don't think that John is powerless to demand an explanation just because he just completed the asset restructuring and conglomerate formation in Korea. They are overthinking it!
"We protested to them, arguing that our pipeline inspection was only short-term and a normal procedure. After all, a newly built subsea oil pipeline requires inspection from all aspects; otherwise, the consequences would be severe if problems occurred. We demanded compensation from them, since they breached the contract first!"

Upon hearing John's words, Lee Boo-jin's face showed a hint of bitterness. The reason she was here was because of pressure from all sides, not only from the South Korean government, but also from Samsung and the South Korean conglomerates. These guys didn't want to pay any price to terminate the contract or offer any compensation!

“I’m afraid they won’t agree. Besides, they have the support of those American conglomerates now. Most importantly, these guys are prepared to fight a long lawsuit with us. They clearly want to drag your newly established pipeline management company down. If the lawsuit drags on for a long time, all your previous investments will be wasted!” A faint look of disappointment appeared on Lee Boo-jin’s face again. Being betrayed by her own family made her feel terrible. Moreover, the reason why the Koreans were able to get all this so quickly was because of her intervention. But now, what she got in return was betrayal and reneging on her promise!
"Hehe, you don't need to worry or be sad. I was prepared for these guys' methods long ago, and I had already thought they would do this. Since they are unwilling to cooperate, then so be it. What's there to worry about? You haven't forgotten that I didn't bear all the costs of the undersea pipeline construction back then. It was guaranteed by their official authorities. If the undersea oil pipeline management suffers losses because they don't accept crude oil, they will bear the responsibility. We have the right to take back all the shares of the pipeline and not repay their loans."

John was also in management back then. Because he didn't trust the Koreans' integrity at all, he demanded loans from them no matter how difficult things were for them. However, these loans were used to purchase materials needed in Korea, which were used for John's own steel company. Now John has ample reason to terminate all the agreements from back then!
Of course, things should be done in a more elegant manner. At the very least, John should shift all the blame onto the Koreans. He doesn't want to bear any infamy himself, otherwise his future investments around the world will be affected.

“But even if we do that, it won’t change the losses from our previous investment. Those guys clearly want to render our undersea oil pipeline useless and waste our huge investment!” Lee Boo-jin said with a worried expression. After all, Asia Energy had invested real money back then!
"Don't worry, everything is fine. Now tell them that I don't accept their demands and that they must continue with the contract. Otherwise, they will be in breach of contract and bear all the consequences. The management company will issue them a warning. If they insist on going through the proper channels, then they will pay a heavy price for their actions."

In an instant, a crazy idea popped into Lee Boo-jin's mind, and she said urgently, "You don't mean to dismantle the undersea pipeline, do you?"

Hearing this, John looked helpless and shook his head, saying, "What are you thinking? How could I make such a decision? Dismantling the pipeline also costs money. How could I do something so irrational? I will just shift the supply to China. We will not suffer any losses. The loan from back then can offset their pipeline costs. It's just that restarting the oil pipeline will not be an easy task for them!"

"But if we do this, our investments in South Korea will be affected, and we might even face boycotts from the South Korean people!"

"So what? Even if there are some losses, it's nothing. After all, I'm not just considering the Korean side's problems, but the whole picture. Even if the Korean side suffers some losses, it's within an acceptable range. As long as our interests in the Korean side are affected, then layoffs are the answer. Don't hesitate, lay off employees directly. This isn't our fault, it's their own fault, and they should bear all the consequences! If they want that market share, then let them have it. Let's see how long these guys can hold out."

John paused, a sinister smile spreading across his face, before continuing, "I remember that pre-prepared meals haven't been fully rolled out in South Korea yet. Next, we'll roll out pre-prepared meals to South Korea on a large scale. Also, we won't sell grain, but we can process it into various food products for retail stores. We can still make enough profit by changing our methods. As for the other issues, I believe those guys will know what pain they're in!"

John's counterattack made the Koreans laugh. They realized that John's actions were just warnings and no other substantial ones. They all felt that their plan had succeeded. As long as they held on, they could take the benefits they wanted from John, especially the undersea pipeline!

Unfortunately, these guys' ideas were destined to fail. Soon, Asian Energy Company and the pipeline company lodged protests, followed by lawyer's letters. Then, when the Koreans failed to provide a reasonable solution within the stipulated time, they sued them, reclaimed their shares, and stopped assuming responsibility for the loans, since these loans were provided by Korean banks. Now they were completely dumbfounded.

"No, this isn't the outcome we want. If they refuse to take on the loan outright, the bank's losses will be even greater, and we'll face even greater financial pressure. And this cost shouldn't be borne by us; it should be borne by those American companies!" "Impossible! They won't accept it, and this has nothing to do with them. You can only blame yourselves for being too greedy, for insisting on getting involved with the Americans and interfering in their internal struggles. If you hadn't been so greedy, this wouldn't have happened. The government won't accept the loan; you'll have to bear the consequences yourselves! If you're not satisfied, you can also take back your shares in South Korea!" It has to be said that these South Korean officials are quite cunning, daring to say such things. If they really did that, South Korea's credibility would collapse, and no one would dare to cooperate with them anymore!

Of course, John is not someone to be trifled with. If they really do that, they will face a full-scale counterattack from John. After all, they were in the wrong first, and they will have to bear the consequences themselves if any problems arise!

"Then we'll just have to accept this loss. Although we have a sufficient energy supply now, the price is higher than in Asia. Moreover, our goal is that undersea pipeline. Now we've gotten nothing but have to pay a considerable price. We can't accept this outcome. We'll continue the lawsuit against them, make them pay the price, and drag them down!"

"Are you daydreaming? Asia Energy has already started adjusting its supply, sending most of its energy to China. They have a huge industrial chain there and can completely produce and sell their own energy. Most importantly, those guys in Japan are also contacting Asia Energy; they also want a larger share."

"Gentlemen, this is just the beginning. The biggest problem is the mineral supply, as well as other issues. If the mineral supply is cut off over there, what do you think will happen? How many factories will be affected?"

"Why would you say that? Did you hear something?"

"It's not news, but Mr. John's steel company in our country is increasing its iron ore purchases several times over. Do you think this will have a huge impact? Once they've completed their stockpiling, the next step will be to cut off our supply, possibly a complete one, or even directly raise prices. You know he has that kind of power! There's another big problem: his automotive group might also make changes and move production to North America. What do you think the result will be then? If all of this happens, the pressure we'll face will be immense. The public will be directly dissatisfied with us, after all, their cost of living is going to skyrocket."

If the people of South Korea have always been burdened by the cost of living, it's not a big deal. But they enjoyed a period of good living before, and if their lives were to continue to decline, they would not be able to accept it. In fact, their cost of living might even be higher than before!

"You're saying our decision was wrong, that we shouldn't have cooperated with the American conglomerate, and that we shouldn't have torn up the contract. But have you considered whether we can withstand the pressure from those guys? They have enormous power behind them, and they can persuade the US government. We had no choice. Even if we knew it was a trap, we had to face it. The fault isn't ours, but those Americans' suppression and plunder of us."

Good heavens, this is truly hilarious! They're pushing all the blame onto the Americans, claiming they did absolutely nothing wrong. It just shows how shameless the Koreans are. Why don't they admit how greedy they were? If it weren't for their greed in trying to seize profits from John, this situation wouldn't have happened. That's the shamelessness of the Koreans; these guys only know how to blame others and never admit they're at fault. They simply don't learn from their mistakes!

“That’s not what I meant. We need to change. We can’t go on like this forever, or we won’t be able to handle it. If the people riot, the pressure on us will be too great, since we need to import all our resources from overseas!”

"If it weren't for that bastard John's scheming that caused us to suffer huge losses on our investments in the United States, we wouldn't be facing this crisis. Now we just want to reclaim our interests, so why does he have to go against us!"

Although these words seem ridiculous to others, these Koreans believe it to be true. All the mistakes were caused by the Americans, and John was one of them. If John hadn't given them problematic assets, they wouldn't be in this situation, facing such a crisis and pressure!
It's obvious that the Koreans are blaming John for the entire dot-com bubble crisis. They don't seem to consider how they celebrated at the beginning, how excited they were watching the stock prices skyrocket. They were too greedy, always wanting more profit, and didn't sell their assets in time. So, after the bubble burst, they faced such a terrible crisis and suffered huge losses. It's all their own fault, and they can't blame anyone else.

John gave these guys a chance, even a chance to break free from the control of American conglomerates. If they had been willing to give up the benefits of the internet, they could have paid off a lot of their debts and even taken control of their own destiny. But they didn't do that, so everything they are facing now is their own doing.

Lacking sufficient strength, yet incredibly arrogant and greedy, these Koreans will inevitably pay a heavy price. Not to mention, they are still indulging in wishful thinking, hoping to seize market share in memory chips from John with the support of the Americans, and to cooperate with AMD and Intel to strangle John's semiconductor chip industry. It can only be said that everything they are in now is their own doing!
(End of this chapter)