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CH312 | Heir
🕑 Added 2025-09-28 13:05:55 +0000 UTCRocket officially launched.
We literally splashed cash on the launch promotion.
Turn on the TV, listen to the radio, search a portal, scroll social media—Rocket ads were everywhere.
The opening momentum was explosive, as expected.
The planning director reported an extremely hot market response.
“Over a million visits in a single day. We now have more than 1.3 million sign-ups, and the growth curve isn’t flattening—it’s accelerating.”
“That kind of figure isn’t just from advertising. Word of mouth must be spreading too.”
“About thirty percent of visitors are converting to membership because the benefits are so generous. We’re also seeing an unexpected effect: subscriptions for related services—OTT, music platforms, game stores—are rising thanks to Rocket membership.”
Membership perks made other services cheaper, so many users who joined Rocket membership also signed up for those services.
“This is a good situation.”
“Not just good—we couldn’t ask for better. This is the fastest sign-up rate in the history of Korean app distribution. And yesterday alone, 100,000 customers used same-day delivery. At this pace, we can reach first place in the e-commerce market share in a short time.”
In the chicken game, coming in first is where it really starts.
We’d poured benefits into the service, so rapid customer acquisition was inevitable. Now the key was retention—making sure users didn’t return to other e-commerce platforms so we could be the lasting winner.
“Soon other e-commerce players will launch massive discount campaigns. If they throw out 1,000-won coupons, we’ll counter with 1,100-won coupons. If they offer 10,000-won coupons, we’ll offer 11,000.”
“We’ll crush competitors mercilessly, learning from the semiconductor market.”
“The semiconductor chicken game burned through tens of trillions. E-commerce won’t need that scale, but bring the same resolve.”
“We’ll stomp them thoroughly.”
To monopolize the e-commerce market, generous benefits alone weren’t enough.
The quality of products also had to surpass competitors—only then would customers trust and buy with confidence.
“Make sure product management is thorough. There may be vendors trying to sell counterfeits.”
“We’re operating a one-strike-out system. Any seller caught dealing counterfeits will be permanently banned from Rocket. And in cases of counterfeit sales, Rocket will provide a full refund to the customer.”
“Be careful not to overreact. Black consumers might try to exploit the system. If bad rumors spread, it could hurt us.”
“We’ll deal with black consumers only after we’ve won the chicken game.”
Amazon had once used similar policies to increase its market share.
If an order was wrong, they didn’t bother with returns—they simply sent a replacement.
By never holding customers responsible and taking full accountability as a company, they built trust.
“Tell Taewoo Trading not to worry about losses. The deficits piling up during this chicken game are like medals of honor.”
“To prevent morale from dropping, we’ve been increasing company dinners and ensuring that bonuses are paid at the same level as other subsidiaries.”
Among Taewoo Group’s subsidiaries, Taewoo Trading was the only one running massive deficits.
Resource development, e-commerce, shipping—all of its ventures were in the red.
But if they endured this trial period, they could grow into Korea’s number one distribution company.
To win the chicken game, overwhelming competitive advantage was essential.
Increasing perks and handing out coupons were things any other company could easily imitate.
What was needed was an edge no competitor could copy.
To secure that edge, I met with Delphine of the Arnault family at a fine restaurant.
“Chairman Kim, what brings you to dine with me today? You’ve always excused yourself as too busy.”
“I felt I had been somewhat neglectful toward you, Branch Chief Delphine, so I arranged this meeting. Living alone in Korea must be difficult, isn’t it?”
“It’s not too hard. Luxury consumption in both Korea and China has been rising sharply each year, so my family recognizes me far more than before.”
Korea’s luxury market had grown significantly.
It had now reached a scale of 10 trillion won, and it continued to expand year after year.
Projections said the market could reach 15 trillion won within ten years. For Delphine, who was embroiled in a succession struggle, such growth was only a positive.
“There’s a business model that could bring you even more recognition from your family. Would you be interested?”
“If it’s a proposal from you, Chairman Kim, I’m always open to listening.”
“It’s about making luxury goods available for purchase online—raising accessibility.”
Buying luxury goods online.
And if they could only be bought through Rocket, Taewoo Group’s platform?
That would give us a competitive edge no rival could match.
“You mean selling luxury products online? Forgive me for saying so, but it seems Chairman Kim doesn’t fully understand the luxury market.”
“Are you referring to the principle that luxury loses value if it becomes too accessible?”
“Exactly. Scarcity is the lifeblood of luxury. If just anyone can buy them online, that scarcity vanishes. For premium lines, we sometimes go so far as to avoid advertising altogether.”
There was a saying that when luxury becomes popular among middle and high schoolers, the brand is doomed.
One brand known for its checkered pattern had exploded in popularity among British students in the 1990s.
It became stigmatized as “thug fashion,” and its brand image collapsed.
Other brands had suffered the same fate.
Restoring a tarnished brand image required enormous time and money.
That was what worried Delphine—and it was something I understood very well myself.
“I’m fully aware of that risk. That’s why the high-end lines wouldn’t be sold online. Only mid- to low-tier items like handbags, perfumes, and cosmetics would be offered.”
“My family despises anything that might damage brand image.”
“That’s why the products wouldn’t be sold to just anyone—we’d limit online sales exclusively to VIP customers.”
Even in department stores, there were luxury goods shown only to VIPs.
There was no rule saying the same principle couldn’t apply online.
“What exactly do you mean by targeting VIP customers?”
“First, they must be Rocket members. Then, only customers who spend over ten million won within three months would be eligible to purchase luxury goods.”
“Under those conditions, it’s not a bad idea.”
“If necessary, we can even limit quantities. With conditions like ‘limited to 500 units,’ we could still preserve brand scarcity, don’t you think?”
The key for now was breaking down the wall.
If even a small fraction of the Arnault family’s brands could be sold online, they would experience the explosive potential of the online market themselves. Once that happened, the rest of the brands would naturally follow.
“This isn’t something I can decide alone. I’ll need to consult with the elders of my family.”
“This project could be a turning point for the Arnault family. And it could also be a tremendous achievement for you, Branch Chief Delphine.”
“You know what happens if I push this forward and it fails, don’t you? I’d be pushed out of the succession line, reduced to managing low-end brands.”
“I’ll take responsibility.”
“...Make sure you keep that promise. I’ll actively persuade them about entering the online market.”
What was so hard about taking responsibility?
With social media or portals, I could restore brand image if necessary.
And if it came down to it, I could even use my own personal funds to boost sales.
“I’ll keep my promise without fail.”
“Good. Then I’ll return to France within this week. But in the end, you called me here just to talk business again. Next time, let’s have a meal together for personal reasons, not work.”
“Once you return from France, I’ll arrange a personal dinner.”
Delphine rinsed her lips with wine and rose from her seat.
This was a business that could determine the family’s line of succession, and she left biting her lip.
***
One week later.
The deputy head of the Arnault family’s Korea branch visited Taewoo Group’s headquarters.
He had come on behalf of Branch Chief Delphine, who was still in France.
“I received word from the branch chief. We’ve decided to sell several of the Arnault family’s brands online. Which products will enter the online market will be determined after discussions with Taewoo Group.”
“That’s excellent news. We’ll deploy all of Taewoo Group’s resources to select the brands and products for online launch. By the way, when will the branch chief be coming to Korea?”
“She says she has many matters to handle at headquarters. Even at the earliest, she won’t be able to arrive in Korea until the beginning of next month.”
It was a shame I had already scouted a nice restaurant.
A meal could wait; what mattered was that the Arnault family had granted approval.
“I’ll immediately dispatch our operations team to the Arnault family’s Korea branch.”
“If all goes smoothly, a few products could be launched online within this week. I’ll take my leave now.”
The deputy head bowed lightly and exited.
I immediately called in the planning director and relayed the conversation I had just had with him.
“Make sure every condition is aligned with the Arnault family so we can launch as quickly as possible.”
“Do that. Also, to preserve scarcity, exclude luxury products from any discount or coupon promotions.”
“Understood. In addition, we’re in meetings with companies regarding frozen foods and meal kits. Over a dozen companies have expressed interest.”
Frozen foods only required freezers, but fresh foods were trickier. Short shelf life meant accurate demand forecasting was essential for proper distribution.
“It’s fine to take some initial losses. Focus on understanding accurate demand during this period.”
“The AI team’s algorithm has already provided some demand forecasts. Over the next month, we’ll concentrate on improving accuracy.”
The e-commerce market was like combining large supermarkets and department stores.
Appliances, food, clothing, luxury goods—everything was there.
The key was making it possible for people to complete all their shopping at home without needing to step into a department store or supermarket, and Rocket had built a system capable of achieving that.
“Once Rocket establishes itself, we’ll face pushback not just from other e-commerce companies, but also from firms that own large supermarkets or department stores.”
“At the moment, they don’t seem to see our customer base as overlapping, so we haven’t encountered serious pushback yet.”
“Exactly why we need to expand aggressively right now. We want to grow so fast that competitors miss their chance to counter us. Of course, if they do try, we’ll respond just as forcefully.”
“I’ll make sure to monitor the movements of distribution companies 24/7.”
In truth, a bit of pushback wouldn’t have been a problem.
If anything, I almost hoped for it.
It would allow us to use the first company that tries to counter us as a cautionary example.
