InkBound
patreon
CH64 | Heir
🕑 Added 2025-03-30 02:23:08 +0000 UTCTaewoo Electronics’ Mobile Division
Before I got involved, it was a practically insignificant department.
The mobile division, once on the brink of being scrapped, had made a dramatic turnaround with InoPhone. Now, it was Taewoo Electronics’ best-selling product.
"If we spin off and sell the mobile division, we can significantly reduce Taewoo Electronics’ debt."
"Are you suggesting we sell off another part of the company right in front of me? I’m already furious that we had to give up the shipbuilding business to those hyenas!"
"Grandpa, weren’t you always skeptical about the mobile business? You were planning to shut it down entirely."
"You’re the one who convinced me to keep it. So why are you suddenly changing your stance?"
From the beginning, this was my plan.
But Grandfather didn't know that. To him, it must have felt like betrayal.
"Running the mobile business made me understand your concerns. The smartphone industry is fiercely competitive. Fall behind even slightly, and you’re out."
"But InoPhone was a success. And I hear the next model is looking fantastic. Why sell a division you built up with your own hands?"
"Because what comes next is the real challenge. I’m confident in my ability to make InoPhone and its successor a success. But beyond that…"
That was only half true.
With the knowledge and technology I had, Taewoo Electronics could continue producing excellent smartphones every year.
But even then, becoming the industry leader was nearly impossible.
At best, we’d remain a decent smartphone manufacturer.
Taewoo’s outdated corporate image would take at least a decade to change.
Unless I executed my plan.
A collaboration with Apple.
By leveraging Apple’s brand and design philosophy, we could transform Taewoo’s image overnight.
"You haven’t even failed yet, and you’re already afraid? That’s not how I raised you."
"I’m not afraid of failure. I want to sell the mobile division to achieve greater success. And I don’t intend to give it up entirely. My plan is to form a joint venture."
At the mention of a joint venture, Grandfather’s expression softened—slightly.
But he still didn’t look convinced.
"I see… So this is your way of surpassing Samjin Electronics? You believe it will increase both our scale and profitability?"
"Exactly. It’s the best way to elevate Taewoo’s brand and market position."
"Explain your plan in detail."
Finally, he was willing to listen.
I laid out the strategy I had only mapped out in my mind until now.
"InoPhone—and the next model—only became possible because of Apple’s people. And now, they’ve gone back to Apple."
"You mean Steve? He didn’t create Inophone alone create, you know."
"But it was his vision and philosophy that made it happen. Taewoo Electronics, on its own, can’t replicate that success."
"A president of Taewoo Electronics shouldn’t be saying that."
I was criticizing the very company I was leading.
No executive reporting to the chairman would dare say such things.
But I wasn’t just an executive—I was the future chairman of Taewoo Group.
I had to tell the truth.
"I say this because I’m the president. I’ve seen Taewoo Electronics from the inside. And it’s in far worse shape than I expected. If we continue on this path, we won’t just fail to catch up to Samjin—we’ll fall even further behind."
Grandfather’s face hardened. His voice grew tense.
"I don’t agree with you. Taewoo Electronics’ domestic market share in home appliances is growing every year."
"But the technological gap is widening. If we keep doing things the same way, we will never surpass Samjin."
The moment I mentioned Samjin Electronics, Grandfather’s expression soured.
His voice rose in irritation.
"So you’re saying that selling the mobile division to Apple will help us surpass Samjin?"
"Yes. But not just that. In return for selling the mobile division, Taewoo Electronics must acquire a stake in Apple. That would forge a true partnership between our companies. It would skyrocket Taewoo’s market share, both domestically and globally."
"So, you believe partnering with Apple is the key to globalization? But why sell the mobile division? Why not just form a partnership?"
Did he really not see it?
Even if a contract was signed, unless you held the other party by the throat, it could always be overturned.
"A partnership agreement like that holds no real power. To truly change Taewoo Electronics' image, both parties must exchange something of significant value."
"I still can’t approve this. Image? That’s just an illusion, something intangible. And you’re saying we should give up the mobile division for an illusion?"
"We’re not just giving it away—we’re getting paid. Selling the mobile division allows us to acquire shares in Apple and use the sale proceeds to pay off a portion of Taewoo Electronics’ massive debt. On top of that, we gain the very ‘illusory’ benefit you dismiss—an improved corporate image."
The benefits far outweighed the risks.
But convincing my grandfather wouldn’t be easy—he hated the idea of shrinking the company.
"And even if we sell the mobile division, it won’t disappear entirely. Taewoo’s branding will still be present on future phones. The only difference is that Apple’s logo will be placed alongside it."
"But can this plan even be realized? Has Apple reached out with an offer to buy the mobile division?"
"Not yet, but I will make it happen."
I spoke with unwavering confidence.
And no grandfather can win against his determined grandson.
His expression softened—just a little.
"I understand your reasoning. But this isn’t something I can decide alone. I will discuss it with my chief secretary and the president of Taewoo Securities before giving you an answer."
"Please also review the report from the Economic Research Institute. It explains in detail why I’ve made this decision."
What choice would he make?
Regardless of his decision, the mobile division would be sold.
After all, I was Taewoo Electronics’ largest shareholder.
But if I proceeded without his approval, our relationship would suffer.
All I could do now was hope he made the right choice.
***
Taewoo Securities President, Park Man-Deok
Lately, President Park Man-Deok had been visiting the Economic Research Institute more frequently.
If the Technology Research Institute belonged to Taewoo Electronics, then the Economic Research Institute was practically under Taewoo Securities.
That said, it functioned more like a private think tank than an internal organization.
Historically, there hadn’t been much communication between Taewoo Securities and the Economic Research Institute.
But that changed the moment Chairman Kim mentioned the report.
A report that outlined the future direction of Taewoo Securities.
Upon reading the analysis by Fukuda, a senior advisor, Park Man-Deok gained new insights.
Now, he frequently visited the Economic Research Institute to learn even more.
"What do you think? It seems President Kim is planning to sell the mobile division to Apple."
"It’s an excellent decision. This is Taewoo’s one and only opportunity to rise to the top instantly. Frankly, with our current technology and brand image, there’s a clear ceiling to our growth."
Senior Advisor Fukuda had a mindset that closely resembled Kim Min-Jae’s.
Even before Min-Jae joined Taewoo Group, Fukuda had argued for reducing debt and selling off unnecessary subsidiaries.
"But the financial gains from the sale don’t seem significant. The deal would likely involve Taewoo and Apple exchanging shares while receiving only a partial cash payment."
"The sale price isn’t the main point. The key benefit is transferring a portion of Taewoo Electronics’ massive debt to Apple."
"But considering InoPhone’s value, isn’t that a bit of a waste? As you know, demand for Inophone is so high that we can’t even keep up with production."
"How long do you think InoPhone’s popularity will last? Taewoo Electronics has already developed the next model. Samjin Electronics and other foreign competitors are also preparing to launch their new products. The best time to sell is when the value is at its peak—right now."
Before he realized it, Park Man-Deok found himself deeply drawn into Senior Advisor Fukuda’s argument.
And he reached an inevitable conclusion—Taewoo Electronics had to sell its mobile division.
"I’ll report it to the Chairman accordingly. Selling the mobile division is undeniably a decision where the benefits far outweigh the risks."
"Tell him that this is the only way to ensure Taewoo Electronics lasts for the next 100 years."
With firm resolve, Park Man-Deok set off to meet Chairman Kim Tae-Jung.
Watching him leave, Senior Advisor Fukuda smiled in satisfaction.
One by one, the plans he had championed for so long were falling into place.
It was a moment of pride.
***
While waiting for my grandfather’s decision, I visited Captain Kang’s office.
There, Dimon was deep in thought, struggling with the reform plan for Taewoo Shipbuilding.
"Looks like you have a lot on your plate."
"We’ve started restructuring. We’re transferring all production workers to the new management as agreed, but we plan to cut about 20% of the administrative and office staff."
"That many?"
"We’ve also signed a contract with a specialized auditing firm from the U.S. Every single contract Taewoo Shipbuilding has ever signed will be scrutinized down to the last cent. This is the only way to weed out subcontractors who have been pocketing illicit gains."
Dimon showed no hesitation in his actions.
As a seasoned expert, he knew exactly what needed to be done to enhance the company’s value.
And he was fully aware of the backlash his actions would trigger.
"If you push for both restructuring and external audits, you know what’s coming, right?"
"They’ll try to neutralize the efforts with a strike. That bastard, President Oh Kang-Chul, will do whatever it takes to keep his cash flow intact."
"Captain Kang, what’s the atmosphere like at the shipyard?"
Captain Kang’s team was already stationed at the shipyard.
Not only were they monitoring Oh Kang-Chul 24/7, but they were also keeping a close watch on the subcontractors.
"A strike is imminent. The union leaders are holding frequent meetings, and we’ve caught President Oh having drinks with subcontractor executives."
"Gather as much evidence as possible. That way, we can cut them off in one strike."
"Are you planning to resolve this legally?"
"I’m not even officially part of Taewoo Group anymore, so I have no reason to hold back. If they want to drag this out, I’ll just make sure they end up in prison. This isn’t a legitimate strike with justified demands—so even the media won’t take the union’s side."
Humans are greedy creatures.
Despite having already taken more than their fair share, they still crave more, clawing for every last bit.
They don’t even realize that their own actions are leading them straight to abyss.
