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CH69 | Heir
🕑 Added 2025-03-31 02:17:22 +0000 UTCThe CES event had officially begun.
Many influential figures from politics and business around the world visited the venue.
Among them, the most famous guest was, of course, the President of the United States, Bill Clinton. I could see officials eagerly trying to make his acquaintance.
But I didn’t bother.
How long would connections made at an event like this really last?
They should have built a deep relationship in advance—like I did.
"Boss! We've arranged to meet him in the parking lot."
"Really? Then we should head over and wait for him."
David and I made our way to the parking lot.
SAVE Investment had invested heavily in lobbying efforts within U.S. political circles, providing massive campaign funds to the Democratic Party during the last election.
David had handled all these lobbying efforts, and thanks to his influence, a brief meeting with Clinton had been arranged.
"My apologies for meeting in such a cramped location."
"What does the location matter? If I get to meet a great person, I’d go to hell itself."
His signature charisma.
His movie-star good looks.
The president who led one of the greatest economic booms in U.S. history was now standing right in front of me.
"Still, it doesn’t sit well with me to treat my biggest donor in a place like this."
"There's no need to worry about that. I'll be your biggest donor again in this year's election."
"Hmm… I truly appreciate that."
"I'm planning to donate twice as much as I did in the last election."
"Of course, I'm grateful, but… may I ask you something frankly? SAVE Investment has never once asked me or my administration for a favor. Don't tell me this money comes with no strings attached—I wouldn't believe it."
From the mid to late '90s, no period in world history—not just U.S. history—had ever seen such economic prosperity.
Even when Korea was struggling with the financial crisis, the U.S. economy remained strong.
The power of a president during such an economic boom was unquestionable.
I hadn’t asked him for anything yet because I was saving that favor for the coming financial crisis.
"I believe I’ll be seeking your help quite a bit in the future."
"As the CEO of SAVE Investment? Or as the heir to Taewoo Group?"
Clinton clearly knew who I was.
For an ordinary person, my identity might have been a well-kept secret. But for the President of the United States? It would have been easy to find out.
"Perhaps both."
"No matter what you ask of me, I’ll be willing to help. But there’s one condition—you must never act against the national interests of the United States."
"Of course. My goal is for Taewoo Group and the U.S. economy to grow together."
"I’ll trust you on that. From what I’ve seen on Wall Street, you seem different from the usual hyenas."
Clinton was favorable toward me.
A top donor who never made any requests.
If I were a politician, I, too, would be pleased to have a supporter like that.
"Thank you for trusting me. My plan is for Taewoo Group and American companies to grow together through joint ventures or strategic partnerships. That’s why I’m even considering selling our mobile phone division—the one that created the InnoPhone—to Apple."
"Oh! That’s an excellent idea."
"And I’ve prepared a small gift for you. It’s a newly designed mobile phone, exhibited at CES but not yet officially released. If you give it to a lady as a gift, I’m sure she’ll love it."
I could have prepared something extravagant, like a stack of cash or gold bars.
But being too blatant in a setting like this might have backfired, so I opted for a small yet special gesture instead.
"It certainly has a beautiful design, fitting for the successor to the InnoPhone. But I suppose I can’t use it myself—an American president can’t be seen using a foreign product."
"Soon, that won’t be an issue anymore."
"Oh! If Apple acquires it, that would indeed be the case. Well then, I’ll hold onto it and start using it once that day comes."
My brief meeting with Clinton had ended.
I had secured the best card to play when the financial crisis struck next year.
* * *
During CES, I barely had time to visit the exhibition hall.
Instead, I attended political fundraising events with David, expanding my network.
I participated not as the CEO of SAVE Investment but as the president of Taewoo Electronics, making my name known in a different light.
After spending several days drowning in alcohol at these events, Vice President Woo Sung-il finally came to me with some great news.
"Sir, two of Taewoo Electronics' products have been selected as Best of CES, and the MP3 player, MPMan, has won an Innovation Award."
"That’s excellent news."
It was a remarkable achievement.
Taewoo Electronics had won awards for both the next-generation InnoPhone—the slide phone—and its television lineup, while MPMan had earned an Innovation Award, given only to products showcasing groundbreaking technology.
"Multiple companies have been reaching out, inquiring about how the MP3 player even works."
"Of course. It’s a technology the world has never seen before, so it’s bound to attract attention. CEO Hwang Young-chul will be thrilled."
"The level of interest might be even higher than when we launched the InnoPhone. Shouldn’t we start preparing for mass production?"
But would high interest automatically translate into strong sales?
Naturally, attention and sales often go hand in hand, but in MPMan’s case, there was a high chance that it wouldn’t.
It was a technology ahead of its time.
To be more precise, MPMan was a product the world wasn’t ready to accept.
Since MP3 files hadn’t yet become mainstream, even if an MP3 player existed, acquiring music files was difficult.
"For now, let’s determine our production plan based on the number of pre-orders."
"Understood. As for the slide phone, pre-orders are pouring in."
"We only just managed to stabilize InnoPhone production, and now the factories will be swamped again."
"To be honest, our current factory capacity isn’t enough to produce both the InnoPhone and the slide phone at the same time."
"So, you’re saying we need to build a new factory. If that’s the case, I’ll take care of the problem soon."
Constructing a new factory required a massive amount of money.
With only a year left before the financial crisis, taking out more loans to fund construction would be suicidal. That’s why I had already prepared an alternative solution.
* * *
The day after CES ended.
At Steve’s request, an Apple board meeting was convened.
Some board members still disliked Steve, but given the success Apple had achieved at CES, they couldn’t openly voice their complaints.
"It hasn’t even been a year since I returned to Apple. The new Macintosh we unveiled at CES has received over 200% more orders than last year. Thanks to large-scale restructuring and project cancellations, we’ve turned a loss into a profit."
Steve opened with self-praise.
But no one could refute him.
Apple’s stock price, which had been hovering around a dollar, had quintupled in less than a year.
"I’ve heard rumors that this board is only interested in selling Apple at a high price to cover its losses. I sincerely hope those rumors aren’t true."
Ahem.
His praise was immediately followed by criticism.
The boardroom filled with awkward throat-clearing.
As Steve pointed out, several board members had indeed been considering selling Apple at a premium to recoup their losses.
"Apple is still far from regaining its former glory. That’s why I intend to take an innovative approach. Any board members who don’t share my vision should submit their resignations and step down."
"You’re speaking quite harshly. Why don’t you start by explaining what this innovative approach is?"
"Innovation takes time. But time is something Apple doesn’t have right now. That’s why, until I can develop a truly groundbreaking product, I plan to acquire a company and a product line that can fill the gap."
"Apple may have turned a profit, but its debt is still significant. Acquiring a company under these circumstances is too risky."
Several board members voiced their objections.
Most of them had never wanted Steve back in the first place.
Steve raised his voice, as if he had been waiting for this moment.
"I expected you to oppose me. Because you don’t actually want Apple to recover! You’re scared, aren’t you? If Apple gets too strong, you won’t be able to sell it off for a quick profit!"
"That’s out of line!"
"Out of line? I’m out of line? You’re the ones who turned the company I built into a one-dollar stock!"
Steve wasn’t one to avoid a fight.
If anything, he seemed eager for one.
The meeting room turned into a shouting match, and as time went on, his remarks became sharper and harsher.
"I don’t need people like you. Get the hell out! Why would I work with parasites eating away at Apple?"
"Did you just call me a parasite? Fine! I’ll resign from the board right now. Let’s see what happens when I dump all my shares on the market. Enjoy watching the stock price crash!"
Several board members hurled insults as they stood up and left.
I watched the scene unfold, practically salivating.
So, they’re going to dump their shares, huh? Then I’ll just scoop them all up.
Apple stock may only be worth five dollars now, but in ten years, it’ll be over a hundred.
If they’re offering me a twenty-fold return, I’d be more than happy to take those shares off their hands.
"It seems like all those who wanted to leave have done so. Now, let’s start the real meeting."
"So, which company are you looking to acquire? You know I fully support your vision, but a move like this comes with significant risk."
George from Quantum Fund was still seated.
Not because he trusted Steve—he trusted me.
Even now, he wasn’t looking at Steve as he spoke. He was looking directly at me.
"InnoPhone and Slide Phone—the two devices that took IFA and CES by storm. I want to acquire the company that developed them."
"You mean Taewoo Electronics? That’s like a shrimp trying to swallow a whale. If this were the old Apple, maybe—but Apple today? Acquiring Taewoo Electronics is nearly impossible."
"I’m not that reckless. I don’t intend to acquire Taewoo Electronics. I only want their mobile division. Compared to other electronics companies, it’s not that large."
George turned to me once again.
He knew very well that I had deep ties to the Taewoo Group.
"I’ll take it from here," I said. "Selling the mobile division is definitely possible."
"Even if Taewoo’s mobile division isn’t huge, acquiring their factories will still cost a significant sum. Apple is already carrying a $1 billion debt—how do you plan to manage this?"
"SAVE Investment will finance the entire acquisition."
"In that case, I have no objections. But do you think Taewoo Electronics will just hand over their mobile division so easily?"
Of course not.
I intended to squeeze every last bit out of the deal before letting go of the mobile division.
