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CH246 | GSI
🕑 Added 2025-03-24 04:22:19 +0000 UTC"Thank you for taking the time to visit our humble office."
Ahn Byung-seok greeted the guests from Daehung Venture Capital with utmost humility, bowing slightly as he spoke.
"I’m Ahn Byung-seok, the CEO of Digital Wave. And this here is our Head of Development, Yoon Nam-ho."
As he introduced them, Ahn took out three business cards and handed them to the visitors.
"Nice to meet you. I’m Park Seok-won. This is Director Yoo Hyun-seok, and to my left is my assistant, Han Ji-sung."
Seok-won introduced his team in return, then handed over his business card.
Ahn accepted it with both hands as a courtesy, but the moment his eyes landed on the gold-embossed title, "CEO", he blinked in surprise.
"Excuse me, but… your title here…"
Ahn trailed off, glancing at Seok-won, who looked about his age—or perhaps even younger.
Sensing Ahn’s hesitation, Director Yoo Hyun-seok stepped in to clarify.
"Our CEO."
"H-Huh?!"
Ahn instinctively swallowed hard, his eyes widening in shock. He quickly bowed his head.
"I-I apologize for not recognizing you sooner!"
Yoon Nam-ho, just as flustered, also hurriedly straightened up. Neither of them had expected someone as high-ranking as the CEO to show up in person.
Seeing their reactions, Seok-won smiled softly, his demeanor warm and composed.
"You both seem quite surprised. If I’d known, I would have let you know in advance."
"O-Oh, no, not at all!"
Still reeling from the unexpected encounter, Ahn could feel sweat forming on his back, despite the fact that summer was still months away.
"Uh… W-Why don’t we take a seat first?"
"That sounds good."
Instead of heading for the sofa, Seok-won chose a seat at the long conference table, sitting directly across from them.
Ahn hesitated before asking cautiously, "Um… If this chair is uncomfortable, I can bring over my office chair for you."
"No need."
Seok-won declined with an easy smile, but Ahn still couldn’t relax.
I should have put more effort into decorating this office…
Regret washed over him as he glanced around the sparse room.
"Since we’re still a startup, we’re not exactly well-equipped yet…"
"That’s perfectly fine. I actually prefer a solid, well-built company over one that just looks flashy on the outside. And from what I’ve seen, Digital Wave seems to have a strong foundation—I like that."
"You… You really think so?"
The unexpected compliment made Ahn let out a quiet sigh of relief. At least, it seemed like their first impression wasn’t terrible.
Just then, an assistant knocked on the door and stepped in, placing cups of coffee on the table before quietly exiting again.
Ahn, now significantly more composed, stole a glance at Seok-won before finally breaking the silence.
"To be honest… I didn’t expect the CEO himself to come here in person."
"Most companies our size would usually handle meetings at Director Yoo’s level, so that makes sense."
Indeed, for a small startup like Digital Wave, an initial investment meeting would typically involve mid-level managers—perhaps even just an assistant manager or a section chief.
Yet here they were, sitting across from not only a director but also the CEO himself.
No wonder Ahn and Yoon were caught off guard.
"The truth is," Seok-won said, leaning slightly forward, "I was the one who personally ordered the investment review for Digital Wave."
"…Is that so?"
Ahn Byung-seok’s eyes widened as he stared at Seok-won.
"I found it fascinating that your company has the technology to develop network communication software, including internet faxing and data transfer between computers."
"Haha. Thank you for seeing it in a positive light."
Seok-won smiled subtly before continuing, "And according to the documents you sent, I heard you’re currently working on something new."
At this, Ahn immediately reacted.
"Ah, yes. Have you ever heard of MP3?"
Seok-won’s lips curled into a knowing smile as he nodded.
"Of course. It’s an audio format that compresses analog voice signals into digital data."
Ahn was inwardly surprised. Despite the technical nature of the topic, Seok-won’s grasp of digital technology was impressive.
"That’s right," Ahn said, regaining his composure. "MP3 allows for sound quality comparable to WAV files while significantly reducing file size, making storage and playback much more efficient."
"But it also comes with a major downside—the rise of illegal music file sharing on the internet."
Seok-won’s sharp remark made Ahn smile awkwardly.
"Y-Yes… that’s true."
"Well, every new technology has its growing pains. I’m sure the issue of illegal sharing will be addressed in due time."
"Yes, I completely agree."
Ahn quickly nodded, once again reminding himself that the man sitting before him was not just any investor—but the CEO of Daehung Venture Capital.
Despite his youthful appearance, Seok-won had an uncanny ability to apply just the right amount of pressure before easing off.
Seok-won took a moment to glance around the modest, decoration-free office before speaking again.
"Since this is a completely new product, I assume the development costs will be significant."
"That’s why we’re currently looking for investors to help cover our funding shortfall."
At last, the moment Ahn had been waiting for had arrived. He instinctively leaned forward, his eyes brimming with anticipation.
Seok-won lifted his coffee cup, took a sip, then placed it down before getting straight to the point.
"How much do you need?"
Ahn hesitated for a brief second, stealing a quick glance at Seok-won’s expression, before cautiously answering.
"If we could secure 400 million KRW (around $300,000 USD), we’d be able to start development."
"400 million, huh… That’s a tricky number."
Ahn knew all too well that 400 million KRW was nowhere near enough to fully develop an MP3 player.
But if he asked for too much, he feared he’d scare away a rare investment opportunity—so he lowballed the figure to the bare minimum.
Seok-won leaned back in his chair, crossed his arms, and locked eyes with Ahn.
"Not just the initial funding. How much do you estimate the total cost will be until you have a working prototype?"
Ahn exchanged a silent look with Yoon Nam-ho, the head of development. Then, licking his dry lips, he shut his eyes tightly for a moment before answering.
"10 billion… No, to be safe, I’d say 20 billion KRW (around $15 million USD)."
That was far beyond Digital Wave’s annual revenue.
With no collateral to offer, it would be nearly impossible for Ahn to find an investor willing to bet such a large sum purely on trust.
As expected, Yoo Hyun-seok, the director accompanying Seok-won, visibly stiffened at the number, his expression caught between shock and disbelief.
"D-Did I just make a mistake?"
Even though Ahn Byung-seok knew he could secure additional funding elsewhere later, he regretted not lowballing the amount from the start.
But it was too late to take back what had already been said.
"Did I just let this golden opportunity slip away?"
He was about to let go of his expectations when—
Seok-won stroked his chin with one hand and spoke.
"20 billion KRW… That’s not exactly abundant, but it’s enough to get started."
“……!”
Ahn’s head snapped up in disbelief at the unexpected response.
Beside him, Yoon Nam-ho, the head of development, was also staring in shock.
Then, with an air of unshakable confidence, Seok-won said,
"Alright. We’ll invest 20 billion."
"You— Y-you really mean that?!"
Ahn’s eyes widened as his voice involuntarily rose in excitement.
Even Yoo Hyun-seok, the Daehung Venture Capital director, was visibly alarmed, not expecting Seok-won to make such a snap decision.
"Sir—" Yoo hurriedly began, trying to intervene.
But Seok-won simply raised a hand, silently signaling him to stop.
Then, turning back to Ahn and Yoon—both of whom looked like they might burst into a victory dance—he spoke in a calm, measured tone.
"Of course, this is a high-risk investment. If the development fails, we could lose the entire 20 billion. And for that level of risk… we’ll need a proper reward."
"Ah…"
Right.
There was no such thing as free money.
As reality sank in, Ahn forced himself to temper his excitement and carefully asked,
"What are your conditions?"
A venture investment was far preferable to a bank loan, which required paying interest every month.
As long as the terms weren’t outrageous, he was prepared to accept almost anything.
"He’s definitely going to ask for company shares… But how much?"
"What if he demands half the company?!"
As Ahn’s mind raced with calculations, Seok-won casually held up one hand, fingers spread wide.
"50%."
"…Excuse me?"
"I want a 50% share of all patents related to the MP3 player you develop."
Ahn, who had been mentally bracing himself for a massive equity loss, blinked in confusion.
"Wait… Did you say patents?"
"That’s right," Seok-won confirmed. "I want half of the patent rights for any technology developed during the MP3 player project."
Ahn’s jaw nearly dropped.
"Th-that’s… That’s all you want?"
Now it was his turn to stammer in disbelief.
"I assumed you’d want company shares instead…"
Seok-won nodded as he glanced around the cramped, makeshift office, which was more of a storeroom-turned-meeting room than a CEO’s office.
"To be frank, I can’t justify valuing Digital Wave at more than 20 billion."
"……"
Ahn and Yoon’s faces flushed red, but neither of them could argue.
He wasn’t wrong.
Digital Wave was a promising startup, but not yet worth 20 billion KRW.
"So, rather than asking for company shares, I’m claiming a stake in the technology itself."
Then, as if predicting their next question, Seok-won added,
"If the MP3 player succeeds, its patents alone will be worth far more than the 20 billion investment."
Ahn nodded silently, completely convinced.
After all, he himself believed that MP3 players would revolutionize the world.
At that moment, Yoon Nam-ho, who had been quietly listening, finally spoke in a cautious tone.
"Then… what happens if the development fails?"
At that, Ahn Byung-seok frowned and scolded,
"We have to succeed no matter what. Why are you being so pessimistic before we’ve even started?"
Yoon Nam-ho sighed inwardly, but with others present, he made sure to keep his expression neutral as he responded.
"Of course, we’ll do our best to succeed. But we still need to clarify what happens if things don’t go as planned—before it becomes a problem later."
"He’s right. It’s always best to have everything clearly laid out in a contract."
Seok-won showed no signs of displeasure at the cautious question and calmly replied,
"As long as there’s no intentional delay or deliberate failure on your part, we won’t demand a refund of the investment."
"Wh-what? Really?"
Ahn gasped, taken aback.
He had assumed they’d expect at least some of the money back, if not the full amount.
Even Yoon Nam-ho, who had asked the question in the first place, couldn’t hide his shock at such unbelievably favorable terms—no repayment obligation at all.
"That’s right. It will be clearly stated in the contract, so you don’t have to worry."
Not just a verbal agreement—they were offering to put it in writing upfront.
Ahn almost felt like pinching himself to make sure he wasn’t dreaming.
"Do you accept these terms?" Seok-won asked.
Ahn didn’t even need to think about it.
"Of course! Absolutely!"
"Should we call Attorney Kim and ask if he can come over right away?"
Yoon Nam-ho, who had been skeptical just moments ago, was now practically bouncing in his seat with excitement.
It was a complete turnaround from his earlier doubts about the feasibility of MP3 player development.
But then again, where else could they ever get investment terms this generous?
Watching the two men barely containing their excitement, Seok-won couldn’t help but smile as well.
