The Magician’s Memorial - Chapter 71



Only Krnovel

Episode 71 failure (4)

There were many reasons to sell the mobile phone division to Apple.

By collaborating with Apple, we can further increase our share of the home appliance market.

It is also possible to raise funds to prepare for Taewoo Electronics’ image change and the foreign exchange crisis that is only a year away.

There were many reasons for this.

I didn’t bother to explain the reason to Vice President Woo Seong-il.

Because he was a person who just had to do what I said.

“You have to look at the bigger picture. The CEO of Taewoo Electronics is a position where such a person should sit. And I plan to give this position to the Vice President soon.”

“What do you mean by that all of a sudden?”

“I haven’t told the chairman yet, but I plan to move to the planning office soon. I think it is the right position to watch over the entire Taewo Group, not just Taewoo Electronics. “I can entrust Taewoo Electronics to the vice president, right?”

“thank you! I will do my best!”

Vice President Woo Seong-il put his head on the desk and expressed his gratitude.

Even if I was in the planning office, he was someone who would be unconditionally loyal to my words, so he also wanted to hand over the position of president to Vice President Woo Seong-il.

What if you don’t listen?

Then you can go anytime.

Because I was Taewoo Electronics’ largest shareholder.

“How is MP Man’s sales performance? “I believe it was released at the same time as the slide phone.”

“That’s a bit strange. “If it is well-received at CES, sales should be good, but the number of orders is ridiculously low.”

“How little?”

“We displayed the MP Man at Taewo Home Appliances stores across the country, but not even 500 units have been sold so far. “We even advertised in newspapers and on TV, but this is the first time in the history of Taewoo Electronics that we have achieved such disastrous results.”

MP Man failed again.

Although the Internet was becoming more popular, MP3 files were unfamiliar.

In particular, the P2P program for sharing music was not released until 1999, so the MP3 player was a product that was ahead of its time.

“President Hwang Young-cheol must have been very disappointed.”

“I’ve tried contacting you several times, but I can’t. “They say he’s not even going to work.”

“It must be hard to come to your senses after experiencing failure for the first time. “Please find out where I am now.”

President Hwang Young-cheol’s location was easily identified.

A report came in that he was drinking at a wine bar near Cheongdam-dong, and when I went to the wine bar, he was drunk and sprawled out.

“I guess we’ll stop doing business here today.”

I gave the wine bar owner a large amount of cash.

The female manager seemed satisfied with the weight of the cash and immediately left the place.

A quiet wine bar with the music turned off.

I sat quietly next to President Hwang Young-cheol, and it took as many as three hours for President Hwang Young-cheol to come to his senses.

“Ah, the head. “Water, someone give me some water!”

“Here you are. “How are you feeling?”

“Who, who? uh! “How can the boss be here?”

“First, drink a glass of water.”

I handed him a small bottle of water.

He watched for a moment and then emptied the entire bottle of water into his mouth.

“… … “I’m really sorry for showing you my ugly side.”

“What do you have to be sorry about me?”

“Taewoo Electronics fully supported us and even included advertisements. “The results were not good and it was a nuisance.”

“But what if I don’t come to work and do this? “We have to think about our employees and try to do well again.”

“I feel sorry for my employees so I can’t come to work. I promised that if this product did well, I would get a lot of bonuses… So the employees worked overtime every day to create MP Man… … .”

It was CEO Hwang Young-cheol who even cried and complained.

I knew how he felt.

The feeling of the world falling apart, the frustration of never being able to rise again.

However, President Hwang Young-cheol’s situation was not all bad.

Because he sold 49% of his shares to me, he became worth 10 billion won.

“If it’s a bonus, I can take care of it.”

“How could you even ask the boss to do that? “Isn’t the damage caused by MP Man only a penny or two?”

“So what are you going to do? “Are you going to continue to indulge in alcoholism like this?”

“… … Honestly, I don’t know what to do. “I doubt that making MP3 players again will yield better results.”

Why are people so weak?

President Hwang Young-cheol’s heart was already broken, and he needed strong support.

“May I make a suggestion?”

“What kind of proposal are you talking about?”

“I will take over the digital case.”

“Are you saying Taewoo Electronics will take over our company? So, are you going to hire all the employees as well?”

“We will allow our employees to work at Apple.”

The person Steve needed most was an MP3 player developer.

There was no way Apple would turn down the manpower that created the world’s first MP3 player.

“I’m sorry that I keep causing trouble to you, boss.”

“Don’t think of it as a nuisance. And if President Hwang wants, I will help you go to Apple, too.”

“Are you talking about me too?”

“Create a new MP3 from Apple. “I will support you from behind.”

Drip!

It was CEO Hwang Young-cheol, shedding tears like chicken shit.

What he needed now was not comfort, but a new beginning.

“Can I have a fresh start too?”

“Please hand over all the heavy burdens to me and start anew.”

“I will transfer all of my shares in Digital Case to the president. No need for money. “I’ve already received so much money and help, how can I get more?”

I don’t know much about the value of MP3 players.

So even in a past life, the patent rights for MP3 players would have been scattered to various places.

“But how can I just receive the shares? “I will give you an additional 5 billion won, so please give it to your employees as a bonus.”

“persimmon… … thank you thank you. “I will definitely repay this favor.”

Will my current feelings continue?

When the iPod becomes a huge success, the value of MP3 player patent rights soars.

It was clear that the patent rights purchased for 15 billion won would be worth at least 100 times more.

“Just get drunk today and come back tomorrow. That way, employees won’t feel anxious. “I will deposit the money by today, so give the bonus to the employees right away.”

“I will. “Meeting a person like you is the greatest luck in my life.”

It was President Hwang who repeatedly expressed his gratitude.

I had a waiting driver send him home safely.

* * *

After meeting with President Hwang, I headed to Captain Kang’s office.

As expected, a team leader was staying up all night in the office, shuffling through documents.

“Mr. Representative, what are you doing at this hour?”

“I suddenly remembered something I need to do.”

“Are you here to give me some work to do? “There is already a lot of work to do.”

“Because it’s a bit urgent. And it’s something that needs to be done in Japan. “You’re familiar with Japan, right?”

The person who sold Japanese derivatives was a team leader.

He traveled around Japan with David, selling derivatives to various companies.

Japanese companies were still going through a difficult time due to derivatives.

“Is there anything left to take from Japanese companies? “If that’s the case, of course I have to step forward.”

“You look very excited.”

“You don’t have to bow down, you just have to be bossy, what’s so difficult about it?”

Team leader Han may deny it, but he has already become a hyena on Wall Street.

I enjoyed this job more than coordinating the details of the slow-moving mergers and acquisitions.

“We need to take Panasonic’s shares.”

“What share should I take? “I will get it out of the way.”

“Do you know it’s MCA Records? “It is one of the top three record distribution companies in the United States.”

“Isn’t this a sister company of the movie company Universal Pictures?”

“that’s right. Panasonic holds a large stake in it. “Can you take it?”

“It’s not that difficult. “It’s not like I’m asking for shares in a subsidiary, I’m just getting shares from another company, so why would it be difficult?”

It was a team leader who got up from his seat ready to fly to Japan right now.

Then, as if he was curious, he stopped for a moment and asked a question.

“But are you planning to enter the music business?”

“I don’t even think about doing that. If necessary, we may have to do it.”

The reason MP3 players failed was because of a lack of MP3 files.

However, I couldn’t create and distribute a P2P site.

Although the P2P site itself was legal, most of the files shared were illegal, so it was bound to receive criticism as well as legal disputes.

Then, all I had to do was turn the official music into an MP3 file.

To do this, the power of a large music distributor was needed.

Of course, you could use Apple to negotiate with music distributors, but doing so would take too long and could result in negotiations under unfavorable terms.

Why go back when there is an easy way?

Just take over a music distribution company and that’s it.

It was also perfect for a company that was already in a bad situation and had transferred most of its shares to another company.

“If the CEO says it’s necessary, of course we should do it.”

“Because there is nothing to lose. “Don’t worry, just proceed.”

“Then we will leave right away.”

A team leader left the office without delay.

I went straight to the airport, probably thinking I would buy a plane ticket at the airport.

* * *

Late at night.

I came home from the office, and my grandfather wasn’t asleep yet and was waiting for me.

“You’re very late getting off work.”

“It’s a little late because there are a lot of things to pay attention to here and there.”

“What’s not working?”

“no. “I worked hard to make Taewoo Electronics run smoothly even without me.”

“What does that mean? “You’re talking as if you’re leaving Taewoo Electronics.”

I already had something to tell you.

It may be a little early, but I announced that I would step down as president of Taewoo Electronics.

“I want to resign from Taewoo Electronics and go to the planning office.”

“You suddenly want to go to the planning office?”

“I rebelled against my grandfather, so shouldn’t I be demoted?”

“Hehe, even if you were to go to the planning office, who would even think you were being demoted? “You would think that he would be moved to the planning office to control not only Taewoo Electronics but all affiliates of the group.”

As expected, my grandfather saw everything right away.

“Taewoo Electronics has now created a system that will run without problems even without me.”

“So you’re planning to reach out to other affiliates? “Why do you have affiliates that you want to sell off again?”

My grandfather was still upset.

You must not feel at ease because everything from Taewoo Shipbuilding to the mobile phone division has been sold.

“no. I promise that from now on, I will not proceed with the sale of any affiliates without my grandfather’s permission. “I hope that Taewo Group will develop and grow further.”

“How are you planning to grow it?”

“As my grandfather said, globalization is the only way to survive. “We want to expand into many countries, including China, as well as the United States.”

“Boy, it’s been a while since you said something you like.”

The sale of affiliates ends here.

Now, Taewoo Group had to increase its sales and reduce its debt.