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CH313 | Heir
🕑 Added 2025-09-28 13:06:03 +0000 UTCToday, I didn’t go to the company—I went to Captain Kang’s office instead.
Since we had arranged it in advance, President Han was already there, waiting for me.
“Chairman, this same-day delivery service is absolutely amazing. I placed an order and received the items in just six hours. And the overnight delivery—this is truly groundbreaking. I never imagined a world where I could have fresh groceries delivered in the middle of the night and prepare breakfast the next morning.”
“There’s nothing money can’t do. As more people use the service, the number of items eligible for same-day delivery will increase.”
President Han was praising Rocket the moment I arrived.
Captain Kang joined in as well.
“I’m using it regularly too. Even taxi drivers are buzzing about Rocket.”
“Let’s set aside the obvious praise for now. How are the major retailers reacting?”
This was why I had come to Captain Kang’s office.
His staff were experts at gathering information, monitoring the movements of major retail companies around the clock.
“Several companies are showing signs of preparing e-commerce services similar to Rocket. In particular, the Charlotte Group—which owns both large supermarkets and department stores—is the most active. The New World Group, part of the larger Samsung Group, is showing similar moves.”
Both were groups that owned department stores and large supermarkets.
With Rocket breaking new records every day, it was natural that they would take notice.
Especially since Rocket was venturing into the food sector, their own territory, they weren’t going to stay idle.
“It would be troublesome if the two groups formed an alliance.”
“The chance of them forming an alliance is less than one percent. It’s far more likely they would join forces with us to attack a competitor instead.”
President Han spoke with certainty.
After all, it was nearly impossible for the first and second-ranked competitors to join forces.
Moreover, the Charlotte Group and New World Group were already engaged in conflicts on multiple fronts.
“The feud between the Charlotte Group and New World Group has been going on for roughly eighty years, right?”
“It wouldn’t be wrong to say it has spanned generations. Since the two groups have essentially divided the Korean retail market between them, even trivial matters can spark a power struggle.”
“Then the likelihood of an alliance is extremely low.”
Even sworn enemies could sometimes cooperate if their interests aligned.
But the deep-seated animosity between Charlotte and New World made it impossible for them to share the same ‘boat.’
“That’s why I expect the competition to become a three-way race between Rocket, Charlotte, and New World.”
“So the other e-commerce companies are already excluded?”
“They are e-commerce companies without the financial strength to survive a bloody competition. You can’t count the shrimp in a fight between whales, can you?”
Some e-commerce companies had already waved the white flag.
At first, they had followed our lead, distributing coupons alongside us. But as we continued running discount campaigns, they couldn’t bear the losses and gave up competing altogether.
“Keep monitoring the situation. If Charlotte or New World challenges the e-commerce market, we’ll strike back immediately.”
“Eventually, retailers will enter the e-commerce market, but not right now. Rocket was able to launch quickly because it leveraged Amazon’s distribution system and know-how. Other companies lack such systems and expertise.”
It was a battle in which retailers with large supermarkets could potentially have an advantage.
We had to store goods in massive warehouses, but they could use their large supermarkets like storage facilities.
“Hmm. We need to make sure they never dare enter the e‑commerce market.”
“No matter how strongly we threaten them, major retailers won’t stop easily.”
“If you threaten them, they’ll push back. So instead of threats, we should leak information that makes them fold on their own.”
“What do you mean, exactly?”
“How big was Rocket’s loss this week?”
President Han took out his phone and compared Rocket’s revenue and expenses. When his calculations finished, he let out a long sigh.
“The deficit is far larger than I expected. Just this week alone the loss exceeded 30 billion won.”
“How much would that be for a year?”
“If losses keep piling up at this rate, we’ll see at least a two‑trillion‑won deficit in a year. Since they’re still building logistics centers, it could even reach three trillion won.”
They were locked in a bleeding battle, so huge losses were inevitable.
And because they kept investing, the deficit wasn’t shrinking—it was growing.
“Can a major retail group absorb losses near three trillion won a year?”
“They could absorb it, but they’d suffer heavy damage.”
“So if we spread the word about Rocket’s losses among the big retailers, won’t they pull back on their own?”
“You mean deliberately leak the deficit numbers?”
“An open invitation: ‘If you have the stomach for a three‑trillion‑won annual loss, come join the market.’”
The global economy was still ruffled by the Lehman shock. Korea’s economy was no different. In that environment, would major retail groups be willing to enter e‑commerce knowing they might suffer losses of two to three trillion won?
“Leaking information discreetly is my specialty. I’ll use intelligence‑division contacts to inform the top executives at the big retail groups about Rocket’s losses.”
“This quarter the media will eventually pick up the story, but for now I’d prefer it didn’t leak to the press.”
“I’ll make sure only the heads of the major retail groups get the information.”
Winning without fighting.
It was the ultimate strategy, as described in The Art of War.
Simply revealing the scale of the losses could prevent major retailers from joining the chicken game.
“And soon, I’ll need to meet with the chairmen of Charlotte and New World Group.”
“Is that really necessary? Just leaking the information should make them give up on entering the e‑commerce market.”
“Meeting them in person will seal the deal more effectively. Of course, I won’t threaten them. Don’t worry—I’ll just go there and moan a bit.”
I wanted to resolve the major retailer issue before the Apple Car launch.
That was why I planned to meet with the chairmen of the big retail groups and settle things directly.
A meeting with Chairman Jin Ho‑gyun of the Charlotte Group had been set.
He greeted me with a smile I couldn’t hide, as if the news of Rocket’s losses had already reached him.
“What brings the busiest man in Korea to ask to see me? Isn’t twenty‑four hours barely enough to clean up what Taewoo Group stirred up?”
“Chairman Jin, do you think I’ve started something pointless?”
“Maybe you’ve been away in the United States too long and lost touch with things here. Korea is smaller than the U.S., sure, but it’s not an easy market.”
Was it because I’d become the chairman of Taewoo Group?
Chairman Jin treated me with polite honorifics, as if I were his generation’s elder.
That manner, strangely enough, grated on my nerves. Not that I was actually annoyed—just pretending to be.
“But with Taewoo’s financial strength, you can hold out, can’t you?”
“I’ve heard rumors they’re already running a 30 billion won loss. Over a year that could top three trillion won—true?”
“That rumor’s already reached Charlotte Group? I’ll have to retrain our people on information management.”
“So the rumor is true, then. Ha—no matter how strong Taewoo’s finances are, an annual loss close to three trillion won isn’t small.”
Chairman Jin had taken to teasing me. I played along and fed his banter.
“It’s a large sum, yes, but my pride is on the line. I won’t back down. If three trillion isn’t enough, I’ll pour in five trillion, and if that still isn’t enough, I’ll throw all of Taewoo Group’s reserves at it.”
“Are you serious? You don’t want this to be recorded as a failure?”
“None of the projects I’ve led have failed. If that means pouring in money to turn failure into success, then so be it.”
Jin Ho‑gyun’s smile disappeared.
He’d read my sincerity: if any company dared enter the e‑commerce market, I would crush them with money. Still, he wanted one more confirmation. With a dry cough, he framed his question as a hypothetical.
“If a major retailer decides to target Rocket and enter the e‑commerce market, what will you do?”
“I’ll use every method to win the chicken game. Money, of course, and if necessary I’ll even ally with other retailers to force them to give up.”
“Are you warning me?”
“How could I warn you, Chairman Jin? I only want you to know that I’m serious about this project.”
Had I been too aggressive?
Chairman Jin briefly slipped back into his old tone, then quickly put his mask back on—an experienced businessman covering his reaction.
“You’re exactly like your grandfather. Chairman Kim Tae‑jung grew Taewoo Group with that lone‑wolf streak. You’ve clearly learned the boldness to remove anything that stands in your way.”
“Thank you for saying that.”
“Charlotte Group has no plans to enter online retail for now. But Charlotte Mart and our department stores will eventually start full online sales. Will you turn Charlotte Group into an enemy then?”
I didn’t intend to monopolize the whole market. I only wanted clear boundaries, and naturally hoped Taewoo Group’s territory would grow.
“How could I interfere with Charlotte Group’s business? I don’t want to make many enemies. As long as no one launches a service aimed at taking down Rocket, Charlotte and I won’t be enemies.”
“That may be true for you, but I don’t know how New World Group will react. They probably won’t stay quiet.”
He spoke as if concerned for me, but in truth Chairman Jin wanted Taewoo and New World to fight. He believed that if they fought, we could seize the market by default.
If New World targeted us, I wouldn’t shy away. But I also wouldn’t stand by and watch Charlotte dominate Korea’s retail market.
“I’ve scheduled a meeting with New World Group soon as well.”
“You’re going around to issue warnings, ha. Taewoo Group has drawn its blade—now someone’s got to be the radish to be cut. I’m curious which group will be the radish.”
Chairman Jin Ho‑gyun had fully backed down.
Charlotte Group was clearly showing that it would not participate in this chicken game.
Meeting with him had been worth the effort.
Even with just Charlotte Group—the second-largest player in Korea’s retail market—out of the picture, half the battle was already won.
***
One week later.
President Han came to see me first thing in the morning.
“Did your meeting with New World Group go well too?”
“It went perfectly. Just like Charlotte Group, they made it clear they won’t turn against us.”
I had met with New World Group the previous evening.
The discussion was almost identical to what I had with Chairman Jin Ho‑gyun.
“With the first and second-largest players in Korea’s retail market stepping back, there’s hardly any group left to check Rocket.”
“You never know. Another retailer could still try to intervene.”
“If that happens, they’ll quickly understand why Charlotte and New World stepped back.”
“That’s true. Only one chairman remains to meet, and the major meetings will be done.”
“The meeting with Chairman Jang Kyung‑joon of Hyundai Motors is scheduled for tomorrow.”
Hyundai Motors had little connection to the retail market.
The meeting wasn’t about retail—it was to discuss the electric vehicle market.
The goal was roughly the same: to deliver a warning message not to interfere with the electric vehicle business.
