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CH154 | Heir
🕑 Added 2025-04-29 07:15:07 +0000 UTCI arrived in Korea a little later than planned.
The morning sun was just rising, and I headed straight to the office.
I was dying to rest, but there was no time for that as the emergency situation was still ongoing.
“Vice Chairman! The Chairman arrived in Korea yesterday. He is waiting in the Chairman’s office now.”
“The Chairman returned from Vietnam?”
“He entered Korea on the day you departed for the U.S.”
It was clear how critical the situation was if even my grandfather had returned to Korea.
Still, if he was coming to Korea, he could have at least given me a heads-up.
Considering I hadn't heard anything from the planning director either, it was obvious that he had intentionally blocked any communication.
“I'll go see the Chairman now. In the meantime, please prepare a report on the current situation of Taewoo Group while I was in the U.S.”
I quickly headed to the Chairman’s office.
It had been a long time since I'd seen my grandfather's face, and my steps naturally quickened.
“Grandpa! Have you returned to Korea? I guess the food in Vietnam didn't suit your taste. You’ve lost quite a bit of weight.”
“It suited me too well, that's the problem. Once this situation is settled, I'll return to Vietnam — keep that in mind.”
I wanted to find a way to keep him in Korea.
But judging by his resolute expression, he looked ready to fly back to Vietnam even if I clung to his legs.
“How was the situation when you saw it in person in the U.S.?”
“It was more serious than expected. The Middle East is likely to turn into a sea of fire soon.”
“The news reported that it was the work of Al-Qaeda. If it's Al-Qaeda, Iraq will become a battlefield. Tsk tsk, there's never a quiet day in the Middle East.”
His clicking tongue was full of concern.
The construction industry needed the Middle East to be stable to thrive.
Moreover, if war broke out in the region, oil prices could skyrocket — adding more worries.
“Still, I don't think oil prices will soar as much as they did during the Gulf War.”
“That’s something we'll only know if the war actually breaks out. By the way, the Korean stock market is in chaos. Both Hyundai Group and Samsung Group are on a steady decline.”
He spoke while suppressing a smile.
Why would he smile when the stock market was in a free fall?
“Taewoo Group has been an exception in this crash. Taewoo Electronics and Taewoo Telecom, in particular, are pulling up the entire group's stock price.”
“Taewoo Semiconductor has also improved significantly. I'm beginning to think I made the right decision entrusting the group to you. How about officially becoming the Chairman now?”
“I'm still not qualified for that position. Besides, with a healthy grandfather like you around, people would only criticize me if I took the Chairman’s seat. Please don't turn your grandson into someone obsessed with power.”
I still needed the shield that was my grandfather.
I had already built many connections and secured future revenue sources for Taewoo Group.
However, I carried the penalty of my age.
Being young wasn't usually considered a disadvantage.
But when it came to rising to the top position of the group, youth worked against me. For the sake of public perception, I needed to remain in the vice chairman position a little longer.
“Hmm, who would dare object if I passed the chairman’s seat to my grandson? I've already transferred all my shares to you. Unless you're too busy raising children, that is.”
“So, you're telling me to get married again. This time, I'll seriously meet someone as a potential partner. So please take back what you said about passing down the chairman's seat.”
“I'll think about it. But if you're still alone after I return from Vietnam, I'll hand over the chairman's position — do as you wish.”
It had been a while since I'd heard my grandfather's nagging, so I didn't mind it as much.
I wanted to continue chatting like this, but the chief secretary came in with an urgent report.
“The White House spokesperson has begun a press briefing. I think you should watch it.”
We all sat on the sofa and turned on the TV.
Spokesman Fleischer, whom I had seen in person before, began delivering the statement.
The speech started with condemning the 9/11 terrorist attacks, but toward the end, Taewoo Group's name suddenly came up.
[On behalf of the American people and the White House, we express our gratitude to Taewoo Construction and SAVE Investment Company for their assistance in the initial response at the World Trade Center. Thanks to Taewoo Construction, additional damage from the building collapse was prevented. Therefore, President Bush wishes to bestow honorary citizenship upon Taewoo Group's Vice Chairman, Kim Min-jae.]
What was this?
I had already heard that they would thank Taewoo Construction.
But granting me honorary citizenship?
The White House was forcing citizenship on me in this roundabout way after I had refused to accept it.
“Haha, my grandson has become a Yankee now. You didn't lobby for this, did you?”
“That's not something lobbying could achieve. Besides, as far as I know, honorary citizenship is granted by the president but requires Congress' approval. The only living person to ever receive honorary citizenship is Prime Minister Churchill. There's no way they'd give it to me.”
I was worried this would cause unnecessary controversy.
I hadn't personally directed the operations at the World Trade Center site, so Congress might raise objections.
“Well, regardless, the fact that Taewoo Group's name came out of the White House spokesperson's mouth means we've gained tremendous publicity.”
“We've received a promotional effect money can't buy. I also got word that the U.S. will quietly overlook the anti-dumping regulations for Taewoo Motors. They told me to make good use of it without drawing attention.”
“Really? This could significantly boost Taewoo Motors' market share in the U.S. It seems I came back to Korea for no reason. You're handling everything so well on your own.”
My grandfather looked very pleased.
I was genuinely starting to worry that he might permanently settle down in Vietnam.
“This was only possible because you're always supporting me from behind.”
“Enough with the flattery. Go on now.”
Grandfather picked up a Vietnam travel brochure.
I felt like the roles were reversed.
Wasn't it usually the third-generation chaebols who wandered around enjoying life while the first generation built the company?
At Taewoo Group, it seemed like my grandfather was the one traveling while I worked myself to the bone.
Although I was envious of my grandfather enjoying his leisure time, I had too many tasks at hand to take a break.
Taewoo Electronics and Taewoo Telecom' CEOs were already waiting in the vice chairman’s office.
“Vice Chairman, iPhone sales have surpassed 400,000 units. If this trend continues, reaching one million units by the end of the year should be easily achievable.”
“It’s not a bad pace. Though in the U.S., they've already surpassed three million units.”
“The U.S. population is more than six times larger than Korea’s. Considering the population gap, our sales aren't that low. Besides, the Korean market has many loyal customers of Samsung Electronics and CL Electronics, and older customers tend to avoid the complex iPhone interface.”
Feature phones and smartphones were completely different categories.
Generations already accustomed to feature phones had to learn a whole new operating system to use the iPhone, making them hesitant to purchase.
“Right now, older generations may avoid smartphones, but in just a few years, even the elderly will be using them.”
“Do you really think that day will come? I switched to an iPhone myself recently, and I'm still struggling to use it.”
“It was the same when computers first appeared. Now, there are hardly any people who can't use one. For iPhone sales to increase, diverse content needs to be available.”
What was the point of the iPhone’s high performance if there weren't enough apps to support it?
Without a wide range of applications, customer satisfaction would be limited.
“I received reports that game companies are in the final stages of developing iPhone games. Some will be released this month, and most companies are expected to launch their games before the end of the year.”
“It’s taking longer than expected. We provided both funding and manpower, after all.”
“The iPhone's performance is the bottleneck. It's much better than feature phones, but far inferior to computers, so optimization is proving difficult.”
The iPhone had been released more than five years earlier than in the previous timeline.
Naturally, its performance was lower than what I remembered.
“There are certainly many limitations. Still, please push them to speed up. Provide whatever funding is necessary.”
“They need more manpower than money. We'll consider hiring freelance developers to support them.”
They say hard work pays off in the end.
Game companies might still think, Will iPhone games really make money?
But unlike the oversaturated PC game market, smartphone games were a blue ocean.
They would surely thank me in the future.
Even if the first batch of iPhone games failed, the experience gained would become an invaluable asset.
“Let’s wrap up Taewoo Telecom here and move on to Taewoo Electronics. How is the collaboration with Apple progressing?”
“A designer from Apple's headquarters has arrived in Korea. He’s reviewing all of Taewoo Electronics' TV designs and has started drafting new designs.”
“Is the designer's name Jonathan, by any chance?”
“Yes. He’s the same person who designed the Inophone while you were the head of the technology research lab.”
I didn't expect Steve to care this much.
Sending Jonathan, the lead designer of the iPhone — that was a big deal.
“I should meet him personally.”
“He's working at the research lab. I'll arrange a meeting.”
“What’s the internal reaction to the Apple-Taewoo TV project? Are there any employee protests?”
“A few employees feel a bit hurt, but since the iPhone is such a huge success, they're not showing it openly.”
Taewoo Electronics was a company with top-notch technological capabilities.
It was understandable that some employees might feel uncomfortable about collaborating with Apple to produce TVs.
However, they also knew that the current approach wouldn't be enough to surpass Samsung Electronics or CL Electronics. That’s why no serious complaints had surfaced.
“Chuseok is just around the corner, right? Make sure the holiday bonuses are generous. There's no better remedy for wounded pride than financial compensation.”
“We’re considering 200% of their monthly salary as the Chuseok bonus, given the strong performance over the past two years.”
“Distribute the bonuses on a sliding scale, between 200% and 300%, based on performance. The Apple-Taewoo TV development team should receive the highest tier without exception.”
“We’ll proceed as soon as we receive approval from the group headquarters.”
Taewoo Group was never stingy with money.
While they tried every possible method to cut labor costs, once an employee joined the company, they guaranteed the best treatment in the industry.
In the end, what mattered most was money.
What use were honor or fame to office workers?
Employees felt the greatest sense of pride when they brought home even a little more money than others.
“Oh, by the way — have you ever heard of a company called Cyworld?”
“I haven't heard of them before, but I'll look into it and arrange a meeting.”
Cyworld — the SNS that once swept across South Korea.
It eventually walked the path of decline with the rise of Facebook.
But at this point in time, it was still a valuable company.
TL/n -
Cyworld is a social networking site that originated in South Korea. It allows users to share photos, videos, and blogs with each other.
Features
- Users can form friendships with each other called "Ilchon"
- Users can update and share pictures, videos, and blogs through "minihompy"
- Cyworld also hosts annual Digital Music Awards
History
- SK Communications created Cyworld in 1999
- SK Telecom acquired Cyworld in 2003
- Cyworld became an independent company in 2014
***
Chuseok, also known as Hangawi, is a major mid-autumn harvest festival and a three-day holiday in South Korea.
