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🕑 Added 2025-04-11 02:40:54 +0000 UTCESD (Electronic Software Distribution Network).
ESD was a method of selling software, including games, through the internet.
At the moment, software and games were sold via CDs, but with the growing popularity of the internet, there was no longer a need to distribute them on physical disks.
However, the concept of selling games online was still virtually nonexistent.
Even Steam, which would go on to become the world’s most famous ESD platform, wouldn’t launch until after 2003.
Since few people understood the massive potential of internet-based software distribution, no one was even attempting it yet.
But I knew that this business could generate billions in revenue with ease.
Of course, Woo Sung-il struggled to grasp this concept.
A man who rarely voiced negative opinions, he hesitated before speaking up.
“I don’t think it’s a good idea for a conglomerate like Taewoo Group to be involved in game distribution. It could hurt our corporate image.”
“On the contrary, this is a perfect opportunity to shed Taewoo Group’s outdated reputation.”
Why do you think I secured distribution rights for Starbucks and Coca-Cola?
And why did I hand over the mobile division to Apple?
It was all part of my plan to modernize Taewoo Group’s image.
“Besides, Korea barely produces any games.”
“That’s something we can change. We’ll cultivate the local industry while securing distribution rights from game developers in the U.S., Japan, and beyond.”
“Are you planning to invest in game development as well?”
“We’ll take a stake in select companies rather than develop games ourselves. And if Taewoo Group’s capital isn’t enough, we’ll leverage Wall Street investment firms.”
My firm stance left Woo Sung-il with no room to argue.
Since he viewed game distribution as a small-scale business, he probably decided it wasn’t worth fighting over.
“I’ll set up a dedicated game distribution division.”
“I’ll handle the IT department myself. Since the concept of a digital game distribution platform is still new, I need to explain it personally to ensure things progress smoothly.”
“It’s such an unfamiliar business that I’m not even sure where to start.”
“Taewoo Electronics just needs to provide back-end support. I’ll personally meet with the gaming companies’ executives.”
I didn’t need to convince Woo Sung-il.
He was just a pawn—he only needed to follow my lead.
“Taewoo Electronics will arrange the meetings. Let us know which companies you’d like to meet with.”
“Schedule meetings with all the major Korean game companies. But first and foremost, set up a meeting with MCSoft.”
The first game I wanted to secure was ‘Linge’.
It was the MMORPG that ignited the genre’s global boom and pioneered the Korean microtransaction model.
***
The next day.
I had my meeting with MCSoft’s CEO, Lim Jin-tae.
With the company desperate for funding due to the foreign exchange crisis, it took just one day to arrange the meeting.
“Pleasure to meet you. I’m Kim Min-jae, Executive Director of Taewoo Group.”
“I was genuinely surprised to hear from Taewoo Group first. I’m Lim Jin-tae from MCSoft.”
Despite MCSoft’s financial struggles, Lim Jin-tae maintained an air of confidence.
Perhaps he had unwavering faith in the game he was developing.
“I’ll get straight to the point. I’d like to invest in the game MCSoft is developing.”
“Are you saying you’d like to invest in exchange for equity?”
“That’s correct. I’m prepared to invest ₩10 billion. What do you think?”
“……”
Lim Jin-tae fell silent, momentarily at a loss for words.
At this moment, ₩10 billion was more desperately needed than an oasis in the desert.
But Lim Jin-tae quickly regained his composure and responded in a cool, calculated tone.
“I appreciate the investment offer, but I can’t give up too much equity. The game’s development is nearly complete, and I’m confident it will succeed.”
“I’m not asking for much. How about 20%?”
₩10 billion for 20%.
For a Korean IT company, this was a stroke of luck greater than winning the lottery.
Truthfully, I could have acquired a stake for far less, but I deliberately raised the investment amount as a gesture of goodwill toward Lim Jin-tae, who had poured everything into game development.
“20% for ₩10 billion seems excessive. Are there any other conditions?”
“Taewoo Electronics is launching a game distribution platform. A site where users can access multiple games in one place. I want MCSoft’s game to be exclusively available on our platform.”
“That seems too favorable for us.”
Since Taewoo Electronics would handle distribution, it was a win-win for MCSoft.
And for me? It was a strategic move. I would secure exclusive rights to all future MCSoft games for my platform.
“Additionally, I want exclusive distribution rights for all MCSoft games going forward.”
“Are you really willing to invest ₩10 billion under those terms? Even for Taewoo Group, one of the wealthiest conglomerates in Korea… that seems excessive.”
“Do you think I’d make this offer just because I have money to burn? I see immense value in this. It may take years to recoup the investment, but I’m looking 10, even 20 years ahead.”
Of course, I wasn’t really thinking that far ahead.
As long as Linge became as popular as it had in my past life, the platform’s transaction fees alone would generate tens of billions of won in profit.
Unaware of my real thoughts, Lim Jin-tae looked genuinely moved.
“I’ll accept your investment. I’ve met many investors, but none have approached us with the sincerity that you have, Executive Director Kim.”
“I firmly believe that Korea’s IT future lies in gaming. I’m not just investing in MCSoft—I’m looking to support multiple game developers.”
“Is that so? Some of my old college friends are working on game development. If you’re interested, I’d be happy to introduce you.”
“Absolutely. If it’s someone you recommend, I’ll make time whenever necessary.”
There was a reason I had chosen Lim Jin-tae as my first target.
He was a Seoul National University engineering graduate, and his friends would go on to become titans of the IT industry.
“We’ll have lawyers handle the contract details.”
“Taewoo Electronics’ legal and strategy teams will oversee the negotiations. Don’t worry—we’ll ensure the terms are fair for MCSoft.”
“Thank you for being so considerate. Just as you said, I hope this will be a long-term partnership—10, even 20 years down the road.”
And just like that, I secured a deal with a company destined to dominate the Korean gaming industry.
But this was just the beginning.
To build a true game distribution platform, I needed more games.
To truly call it a game distribution platform, it needed at least 10,000 games.
The more games it had, the more users it would attract.
And only with a solid user base would game companies be willing to release new titles on the platform.
Once the system was in place, it would create a self-sustaining cycle.
The problem was that building the system required an initial investment and the participation of major game companies.
Ultimately, it was a problem that could be solved with money.
And if it was just about money, I could handle it through SAVE Investments.
I picked up my phone and called Team Leader Han, who was in the U.S.
“Han, how have you been? David told me you’ve had some downtime lately.”
[David said that? I barely sleep three hours a day. I’m constantly traveling to Silicon Valley to meet promising companies. And when I’m not doing that, I’ve got my face buried in a monitor, tracking IT stocks.]
SAVE Investments had been making significant bets in the IT sector.
For the next two years, the IT boom would be so massive that just holding onto stocks would guarantee several times the returns.
“Do we have any game-related companies in our portfolio?”
[We have a few that specialize in games, and some that develop both software and games.]
“Perfect. Work with those companies and secure distribution rights. Taewoo Electronics is launching a global game platform, starting with Korea.”
[So, we’re entering the gaming industry now? I’ll start by contacting the companies we already hold shares in. I’ll also instruct David to reach out to major game studios.]
Han agreed far too easily.
I had even prepared arguments to convince him, but he accepted it so quickly that it caught me off guard.
“Aren’t you even a little skeptical about jumping into the gaming industry?”
[If it’s your business, it’ll succeed no matter what. I just assumed the gaming industry’s future was even brighter than I thought.]
“I see.”
[If anyone else had suggested this, I would’ve cursed them out first.]
I could hear the trust in Han’s voice.
It was the result of years of working together, and I had never once let him down.
“This is going to be a massive success. So don’t hesitate—secure those distribution rights, no matter the cost.”
[We actually have surplus capital sitting idle at SAVE. If we can’t get the distribution rights, we’ll just buy the game copyrights outright.]
Han was even more aggressive than I was.
And honestly, his approach wasn’t bad at all.
“Oh, and be prepared—Wall Street will start pushing back soon. They’re not happy with us holding so much IT stock.”
[What can they do? It’s not like they can force us to sell our shares.]
“Hint that we’re open to swapping shares for other assets.”
[There’s nothing hotter than IT stocks right now. Are you predicting a market downturn?]
“You’ve worked with me long enough to know—when a sector explodes in value, a bubble will always burst eventually. The IT bubble won’t pop right away, but we should start preparing.”
The Dot-Com Bubble.
A massive economic bubble that would shake both America and Korea.
It was only two to three years away, so I had to start laying the groundwork now.
***
Taewoo Electronics' IT division had successfully completed the game platform.
With the team expanded to 250 people, over half of them had worked intensively, allowing them to develop a solid platform site in a short period.
And the site’s name? "Platform."
Sometimes, simplicity was the best approach.
Thanks to SAVE Investments and Taewoo Electronics' aggressive business efforts, we had secured distribution rights for over 5,000 games.
Unexpectedly, President Woo Sung-il had played a significant role.
Having worked in the electronics industry for years, he had extensive connections, through which he had helped secure over 500 games.
“Today is finally the day the platform launches. I’m nervous about the outcome.”
“We started advertising last week, right?”
“Yes. We’re running ads alongside MCSoft’s ‘Linji’ campaign.”
The MMORPG craze was about to sweep Korea.
And with it, the rise of internet cafés (PC bangs).
I had timed the platform’s launch perfectly, aligning with these two major trends.
As PC bangs opened across the country, the number of gamers would inevitably surge.
And to play MMORPGs, they would have no choice but to use the Platform—since we had secured exclusive distribution rights for Linji and other popular MMORPGs.
Now, all that was left was to watch the results unfold.
Even though I knew it was going to be a huge success, I still felt a thrill as we officially launched Platform.
