The Magician’s Memorial - Chapter 155



Only Krnovel

Episode 155 Friend or Foe (4)

President Woo Seong-il was, as expected, quick at getting things done.

That was the reason he was still left as president of Taewoo Electronics.

A few hours after saying that I wanted to meet with Seo Kwang-soo, CEO of Sayworld, I was able to meet him in the vice president’s office.

“welcome. “You were very surprised when I suddenly asked you to meet me, right?”

“no. “I am honored to be invited by Taew Group Vice Chairman.”

It’s been a while since I met someone of similar age to me.

CEO Seo Kwang-soo first created Sayworld as a college graduation project, and since he launched Sayworld in earnest after graduating, he was not yet in his 30s.

“I came across Sayworld by chance. But it’s a very good site. The potential for development seemed endless.”

“Thank you for your kind words. However, it is still only a small Internet community site with a small number of users.”

Sayworld was a social media site that swept through the mid-2000s.

However, since the concept of mini homepage had not yet been introduced, it was only a site known to those in the know.

“Taewoo Group can fill in what is lacking. “Why don’t you join us?”

“Are you saying that Taewoo Group will invest?”

I didn’t take too long.

They immediately brought up plans for investment and share acquisition, and CEO Seo Kwang-soo showed great interest.

“We will support you with as much investment as you want. Instead, Taewo Group will acquire 49% of the shares.”

“Can you tell me how much it will cost?”

“It is at least 5 billion won. “You can do more than that if you want.”

“Are you saying that much?”

Today’s Sayworld was a site worth not more than 5 billion won.

Since it was only in its early days, the features that were in the spotlight had not yet been developed.

Nevertheless, I asked for a large sum of 5 billion won.

The amount came from the confidence that we could derive even more value if we worked with Taewo Group.

“We plan to provide not only financial support, but also manpower support and server support.”

“Can you provide server support? “Traffic was already increasing, so downtime was occurring frequently.”

The most troublesome part of running the site was the server.

The server cost was too large for venture companies to bear, and many venture companies failed because they could not cover the server costs.

“Taewoo Communications will definitely provide server support. And we will support Taewoo Electronics’ excellent human resources.”

“thank you! thank you. But I can’t decide right now. I’ll go back to work, discuss it with my friends, and make a decision. We will respond by this week at the latest. Even if my friends are against it, I will make sure they stamp it even if it means dragging me by the hair.”

CEO Seo Gwang-soo spoke without taking a single breath.

It seemed so urgent that I was getting ready to run to the office right now.

“Please contact us slowly. “I’ll give you my business card here, so please contact me.”

“thank you. thank you!”

It was CEO Seo Kwang-soo who grabbed the business card and ran away.

I didn’t give my business card to anyone.

That’s why Sayworld was the company I needed.

In order to expand the use of the iPhone, SNS was needed, and it was a site that could sufficiently serve as a bridge until Facebook appeared.

***

A few days later.

The Vice President of KS Telecom came to the Sayworld office in person.

“Greetings. He is a senior at our school. “When Taewo Group said they were interested in our site, they came to us to give us advice.”

“Nice to meet you! Seniors! “I once heard a lecture while I was in school.”

“It feels really good to meet great juniors like this. “Can I speak to you comfortably?”

Korean society was still a society where personal connections existed.

In particular, the closer the graduates were to famous universities, the stronger the bond.

“You can speak comfortably. “He is a senior like heaven, so of course he should be.”

“I came out to society, but what kind of senior is like the sky? Just think of him as a senior in the same industry. But Taewo Group is interested in acquiring shares?”

“There was an offer to acquire a 49% stake for 5 billion won. Vice Chairman Kim Min-jae made a suggestion himself.”

Vice President Park Dong-hee smiled in remorse.

KS Telecom was always in trouble because of the Taewoong Group.

In addition, it lost its first place in market share to Taewoo Telecommunications, and the gap was already widening to the point where it was difficult to narrow it.

It was a gap that arose because all of Taewoong Communications’ projects were a huge success.

At the executive meeting, it was even said that Taewo Telecommunications should follow the project without fail.

However, as Taewoong Communications was about to start another project, an opportunity arose to take it over.

“How long has it been since you guys started your company?”

“It’s now our third year. “I started developing while attending school, and registered my business as soon as I graduated.”

“Then you still don’t know the fear of society. Have you ever heard of a large corporation stealing the technology of a venture company and throwing it away?”

“I’ve heard of it.”

“Taewoo Group is famous for doing that. “You’re not buying Sayworld shares with 5 billion won, you’re investing 5 billion won to steal technology.”

“They said they would provide support including manpower and servers.”

“Why didn’t you think about providing manpower support? “They are trying to deploy Taewoo Electronics employees to steal all of Sayworld’s technology.”

The successful senior’s words were full of persuasive power.

Moreover, I could only nod my head as I had seen many cases of small and medium-sized businesses being robbed of their technological capabilities by large corporations.

“Actually, this is the first time I have heard of a large company providing manpower support to a venture company.”

“That’s what I said! And you said you were acquiring 49% of the shares, right? If it wasn’t for the purpose of stealing technology, the stake company itself would have been acquired. “They only plan to steal the technology and throw it away, so they are only acquiring 49%.”

“If it weren’t for you, I would have been in big trouble.”

Vice President Park Dong-hee showed a generous expression.

Now, with a little more coaxing, bringing Sayworld to KS Telecom would have been no problem.

“Hmm, I can’t let my juniors suffer such humiliation. “I will do my best to help KS Telecom acquire Sayworld.”

“Are you taking over the company itself?”

“You will receive approximately 7 billion won. And not just 7 billion won, you will receive it in the form of stocks. “If Sayworld grows, the stock value could increase from 7 billion won to 70 billion won.”

“Are such good conditions possible? Sayworld has a small number of users and does not have any special technology yet.”

“Shouldn’t we prevent our juniors from being scammed? Because I will take responsibility for everything. Juniors just need to sign the contract. Instead of doing this, should we have a drink together and talk more? “Let’s have a drink at a nice place today.”

Vice President Park Dong-hee led Sayworld executives to the bar.

Meanwhile, KS Telecom’s legal team created a contract and brought it to the bar.

Sayworld management, who was already sober, sabotaged the contract without even properly checking it.

***

next day.

It’s been a while since I visited the technology lab.

It was to meet Jonathan, who was drafting a design at the technology lab.

“Jonathan! “I came to Korea, but why didn’t you contact me?”

“I was unable to contact the vice president because I felt he was too high up for me to contact him directly.”

“There is nothing like that between us. “Aren’t we comrades who went through difficult times together?”

“is that so? “I will contact you conveniently in the future.”

Jonathan trembled humbly.

Although I am the vice president of Taewoo Group.

Jonathan was also the general manager of Apple’s design department, so he was by no means a low-ranking person.

“How is TV design going?”

“I have designed mobile phones and PCs, but this is my first time designing a TV, so it is not easy to come up with a draft. “I have some sketches of products, would you like to take a look?”

Jonathan took out his sketchbook and showed it to me.

Even though I had seen various TV products before regression, I couldn’t help but be surprised.

Perhaps because he was the person in charge of Apple’s innovative design, all of the design sketches appealed to me.

“I like all the designs. “I really want to commercialize everything.”

“We are designing with the same mindset as when we created the iPhone. “We are trying to create a TV that is as simple as possible but is also future-oriented.”

“Did you show Steve the sketch?”

“I’m just going to sketch out a few more designs that have come to mind and show them to Steve. Don’t you know? What a meticulous personality Steve is. “To please Steve, you have to sketch at least 50 designs to get at least one of them OK.”

Jonathan got sick of saying Steve’s name.

The fact that the head of design reacted this way reminded me of how much Steve had been teaching me.

“No matter how cool a design is, it is useless if it cannot be commercialized. Please communicate with the TV development team and create a draft design.”

“I know that well. “I don’t know how much we fought with the development team when designing the iPhone.”

I looked at the design sketch again.

Minimalism, simple shapes, symmetry, etc.

These were designs that exuded Apple’s sensibility.

Although it was only a simple sketch, we could already sense the success of Apple-Taewoo TV.

Good feelings for a while.

The head of the planning department was seen rushing to the technology research center.

Looking at his serious face, it was clear that something had happened.

“Vice Chairman, KS Telecom has officially announced its acquisition of Sayworld. What is known is that the entire stake will be acquired for 7 billion won and the payment will be made in stocks.”

“You handed over the company for only 7 billion won? And that in the form of stocks, not cash?”

No matter how you look at it, the conditions I offered were better conditions.

However, the fact that Sayworld was taken over by KS Telecom meant that something happened in the middle.

“Let’s go to the car and continue our conversation. “I have to go back to headquarters.”

While traveling by car with the planning manager.

I was able to hear the full story of the incident.

“After talking with us, KS Telecom Vice President Park Dong-hee reportedly visited the Sayworld office. Vice President Park Dong-hee and Sayworld executives are university alumni.”

“It looks like he used his position as a senior to sign a contract with Sayworld.”

“I tried to contact them to hear more details, but I haven’t been able to get in touch with Sayworld at all.”

“Now that the acquisition has been announced, there is no reason to contact us.”

For the first time in a long time, my body started to develop a fever.

How dare you rob me of what I did first?

In that case, even if it means completely changing the plan I made, I will end up screwing the other person!

“Please go to Taewoo IT. “We need to take action right away.”

I’ll make you regret it.

I was confident that KS Telecom’s acquisition of Sayworld would be the worst decision.