Gyeong-deuk Lee, Head of the Restructuring Headquarters, was back from Ilhyeon Electronics. He asked in a careful voice.

"Vice-Chairman. A company falling into the red means there is a problem in the structure, so restructuring……."

That was Gyeong-deuk Lee saying restructuring ought to be done. What came next came in a voice more careful still.

"Complaints may come from the other affiliates."

"That they restructured without even running a loss, so why is Ilhyeon Electronics not restructuring when it is running one?"

Seong-ho Kim had the trouble exactly, and Gyeong-deuk Lee nodded.

Seong-ho Kim smiled and lifted his teacup.

"Ilhyeon Electronics' loss starts from a different starting line than the other affiliates."

"A different starting line?"

"Because Ilhyeon Electronics' loss is an intended one."

"What? An intended loss?"

Gyeong-deuk Lee was not following, and he looked at Seong-ho Kim.

"Could it be…… embezzlement, or…… breach of trust…… I'm sorry."

Gyeong-deuk Lee bowed his head hurriedly to Seong-ho Kim.

"Hahaha. No. I understand. Making a loss on purpose, with intent, stands a good chance of being caught as breach of trust, after all. Though of course my intent runs the other way from that."

Seong-ho Kim spoke to Gyeong-deuk Lee, who was raising his head, relieved.

"What I meant by intended is a loss that comes out of starting a game of chicken on purpose, to kill off the competition."

"Ah — so that was your meaning."

"And this game of chicken is going to go on. Ilhyeon Electronics is not restructuring. It plans to raise output."

"How far do you mean to take it……."

"Until the competitors are gone."

"All of them?"

Gyeong-deuk Lee put a startled look on his face.

What Seong-ho Kim had said was too bold, and it frightened him badly.

"There must be more than one or two semiconductor companies out there now…… can we hold out until then?"

"A monopoly is close to impossible even in the most trifling industry, so how could we hold one in something as enormous as semiconductors? I would like to, but I don't ask for that much."

Seong-ho Kim…