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CH106 | Heir
🕑 Added 2025-04-13 03:05:40 +0000 UTC
After wrapping up my meeting with Lee Young-han and returning to my office, I found Dimon waiting for me.
“Did everything go well?”
“You must not have much to do these days. Isn’t managing the consulting firms keeping you busy enough?”
“The restructuring is nearly complete, and most of the companies have been successfully merged into Taewoo Group. There are still a few left, but they’re small-scale, so they won’t take much time.”
“I can’t have an expensive asset like you sitting idle. You’ll handle the Myeong-dong situation.”
“Are you serious? Nice!”
Dimon clenched his fist and did a little celebratory gesture.
Who gets excited about being assigned more work?
“Japanese capital will start pouring into Myeong-dong soon. There’s a guy named Lee Young-han—grandson of the most powerful loan shark in the area. Work with him to take control of Myeong-dong.”
“I’ve always wanted to try my hand at underground business. If not now, then when? But dealing with Japanese capital will require a lot of funding.”
“We’re expecting around 10 trillion won. If that’s not enough, we can pull in more.”
“With that kind of money, we can crush them right from the start.”
Before the foreign exchange crisis, the total capital in Myeong-dong was estimated to be around 10 to 20 trillion won.
The Japanese loan industry would likely bring in a similar amount, so there was no chance we’d lose due to lack of funds.
“Make sure to stomp them out so thoroughly that they never dare to try again.”
“There’s something I’ve realized after handling several mergers and acquisitions in Korea.”
“And what’s that?”
“Patriotism. While countries like the U.S. also value patriotism, it’s different in Korea. Maybe because of history, Koreans have a strong aversion to foreign invasions and tend to unite fiercely against them.”
“So, you’re planning to frame the Myeong-dong battle as a Korea-Japan showdown?”
“Actually, I’ve been watching Korean movies lately as a hobby. I really enjoyed the ‘General’s Son’ series. I heard it was a huge hit in Korea.”
I was familiar with General’s Son too.
It depicted the life of Kim Doo-han, who was more famously portrayed in the drama The Rustic Era.
The story followed him as he started from the bottom and used his fists to take over Jongno during the Japanese colonial period.
“Jongno and Myeong-dong are pretty close, after all.”
“If Kim Doo-han drove out the Japanese yakuza from Jongno, we just need to make people see this as us driving out Japanese capital from Myeong-dong.”
“You’re getting a little too immersed in this movie plot. But if you’re enjoying it, I won’t stop you. Have fun with it.”
“I already have dozens of scenarios running through my head. First, we need to crush the lackeys working for the Japanese.”
Dimon wasn’t just having fun—he was acting as if he were the main character in the movie.
That actually made him even more reliable.
If he saw himself as a freedom fighter, he’d be even more determined to stop the Japanese loan industry.
But… he wasn’t even Korean. He was American.
Why was he so absorbed in this independence movement? I couldn’t understand him at all.
“The Japanese lenders won’t stop at Myeong-dong. They’ll try to expand into the legal market too, running flashy TV ads to lure people in.”
“Then we’ll run our own ads. Even better! That way, we can expose everything to the public.”
“There’s no limit on the advertising budget, so go all out.”
“This is why I like working with you. Where else would I get an opportunity like this?”
I left the Myeong-dong operation entirely in Dimon’s hands.
I already had my hands full managing Taewoo Group. I couldn’t afford to keep focusing on Myeong-dong forever.
Taewoo Group had an overwhelming number of tasks to handle.
In particular, Taewoo Telecom was locked in a fierce battle with KS Telecom for the top spot, and in order to gain an edge, an OTT service was essential.
The problem was that, at the moment, OTT could only be accessed via computers.
To resolve this issue, I called the president of Taewoo Electronics to the planning office.
“Is the OTT platform development going well?”
“There are no major issues with the website itself, but negotiations with movie distributors and broadcasting networks are taking time.”
“I’ve already sent someone to handle negotiations with American distributors, so that will be sorted out soon. What bothers me more is that OTT can only be accessed via computers right now.”
“That’s unavoidable since an internet connection is required to access the site.”
At this point, internet access was only possible through computers.
But was it really that difficult to connect to the internet?
“If we can connect TVs to the internet, people could enjoy OTT services directly on their TVs.”
“Are you suggesting we connect TVs to the internet?”
“Aren’t computer monitors and TV screens built with similar technology?”
“They are, but you still need a computer to access the internet.”
“I’m not talking about turning the TV into a fully functional computer. It only needs to connect to our OTT platform and operate it. And if a computer is necessary, we can develop a small device similar to a CPU that connects to the TV.”
In my previous life, every household used IPTV.
And to use IPTV, a set-top box was required.
So, what I was instructing President Woo Sung-il to do now was essentially develop a set-top box.
“There are already numerous movie channels available. Is there really a need for internet TV?”
“It’s the difference between having a choice and not. With movie channels, you have to wait for your desired film to be broadcast, but with internet TV, you can watch whatever you want, whenever you want. There will definitely be demand.”
“I think investing this much into Taewoo Telecom is excessive.”
Woo Sung-il was getting quite bold.
Challenging my decisions like this…
“So, are you saying you can’t do it? Is Taewoo Electronics’ technical capability that limited?”
“N-No, that’s not it. We’ll develop a way for TVs to access the OTT platform.”
“It’s not even that complicated. Just enable TVs to connect via LAN cable and create a dedicated OTT platform for TV users.”
Of course, saying it was easy didn’t mean executing it would be simple.
Achieving this would require multiple technological advancements.
But that’s exactly why we had an entire development team and research center receiving massive investments. My request was far from impossible.
“We’ll do our best to develop it as quickly as possible.”
“And this isn’t just for Taewoo Telecom. This will also significantly boost Taewoo Electronics’ TV sales. So, consider this part of Taewoo Electronics’ expansion.”
“I was thinking about it the wrong way. My apologies.”
“No need to apologize. Oh, and there might already be internet TVs developed overseas. If there are, try to acquire their patents. Also, make sure to patent every piece of technology we develop for this project.”
Taewoo Electronics’ research center was often jokingly called the Patent Registry.
Given the sheer number of patents it registered every year, the name was fitting.
Whenever past memories surfaced, I would stop by the research center and share new ideas.
“Of course, patents are a must. Our revenue from patents has been steadily increasing every year. Especially the royalties from MP3-related patents—they’ve been quite lucrative.”
“Other electronics companies have started producing MP3 players too, haven’t they?”
“Not just major corporations—even mid-sized companies have started producing MP3 players.”
“MP3 players don’t require particularly advanced technology. If we monopolize the market too much, we might face criticism. Offer discounted patent fees to smaller companies.”
“Understood. I’ll proceed as you instructed.”
President Woo Sung-il had finally realized how valuable patents could be.
Thanks to that, not only the research lab but also Taewoo Electronics had been churning out patents at an incredible pace.
Whenever they developed a technology I suggested, hundreds of patents would be registered all at once.
“Also, focus on developing Bluetooth-related products.”
“Are you referring to wireless earphones or wireless keyboards? The technology hasn’t been officially introduced yet, so development will take time.”
“Still, if we start now, we’ll have usable products by the time they’re ready for market.”
Bluetooth technology was first developed in 1994.
A group of companies had formed an alliance to establish standards, and the official announcement was expected next year.
“Especially focus on developing wireless earphones. They will become mainstream in the future.”
“I’ll personally oversee the project.”
This was all groundwork for future smartphones.
The iPhone hadn’t even been released yet, but I had to start preparing for when it eventually would be.
“How is the copyright issue coming along?”
“We’ve aired a public service announcement and worked with the government to crack down on piracy, but illegal downloads are still rampant.”
“No matter how much effort we put in, we’ll never eliminate piracy completely. As long as we can instill in the public that illegal downloads are wrong, that will be enough.”
Most of the IT division’s projects were tied to copyright issues.
From music streaming to OTT services, illegal downloads could significantly impact revenue.
“I’ll arrange for another public service announcement to be aired.”
“How about this? I heard the film industry is planning an overnight protest to protect the screen quota system.”
“Yes, they want to prevent foreign films from dominating theaters and ensure Korean films have a legally protected share of the market.”
“A single issue like the screen quota might not be enough. Try to incorporate copyright protection into the movement as well.”
The protest would involve a large number of filmmakers.
If I remembered correctly, it would last for two months and receive continuous coverage on the news.
“We can support the campaign financially and link it with copyright protection efforts.”
“Do you think just donating money will make them take the campaign seriously? Announce that Taewoo Cinema officially supports the screen quota system. That way, they’ll be more proactive.”
Taewoo Group owned a multiplex theater chain called Taewoo Cinema.
In my past life, it had been sold off due to the financial crisis.
But now, Taewoo Group was running it directly, and the number of locations was increasing significantly each year.
“If we put up banners supporting the screen quota in all Taewoo Cinema locations, the film industry will be thrilled.”
“I’ll be traveling to the U.S. soon. When I return, I hope to hear good news.”
“I’ll make sure everything is handled so you can leave with peace of mind.”
There were numerous things to take care of in the U.S.
First, I had to meet with movie distributors for the OTT business.
Then, I needed to visit Apple and check the progress of the iPhone’s development.
Finally, there was business to handle with the Wall Street hyenas—another reason I had to go to the U.S.
The impending war in Myeong-dong was unfortunate timing.
I regretted not being able to witness it firsthand.
Well, the battle wouldn’t be over quickly. There would still be plenty to watch when I returned.
