The Magician’s Memorial - Chapter 86



Only Krnovel

Episode 86 National Bankruptcy Day (4)

The IMF’s building was located in Washington.

So I flew to Washington with David and enjoyed dinner with IMF officials.

“It’s a real honor to meet my seniors. This is Minjae Kim from Taewo Group. “Please feel free to call me Kim.”

“I have heard your story from several people. “You have a close relationship with SAVE Investment Company and are friendly with several companies on Wall Street?”

“I’m truly honored that you recognize me.”

“And you say you are the successor to Taewoo Group? As expected, the Taewo Group was strong because the successor was someone who had worked on Wall Street. “Taewoo Group is the only Korean company with a debt ratio of 0%.”

“It was thanks to learning advanced corporate management and financial skills at school. “I just walked the path well paved by people like my seniors.”

It’s been a while since I greased my mouth.

Lip service used to work better in America than in Korea.

And educational background was also a really important part of American society.

Even if you are a young man of Asian descent.

These were IMF executives who gave up positions next to them just because they were from the same school.

“When we enter Korea this time, we plan to completely overhaul the shareholding structure and management methods of large corporations. “The company was being run in a way that was extremely unproductive.”

“Taewoo Group was undergoing restructuring even before the foreign exchange crisis hit.”

“So the company is doing well. “Other Korean companies should learn from you.”

Although I was smiling on the outside, I was quite bitter on the inside.

The IMF has severely tightened the Korean economy, and many office workers have lost their jobs and become unemployed.

Even the head of the IMF recalled that the policy was too harsh on Korea during the foreign exchange crisis.

But what can you do?

It was not a policy that could be changed just by me stepping in, so I had to get as much as I could within the framework that the IMF wanted.

“Unfortunately, there are so many companies that have collapsed. So Taewoo Group is planning to acquire such companies.”

“It costs a lot of money, is that okay? “If you acquire a company, you may accumulate debt.”

“That’s why we need help from seniors. “I’ll raise a glass.”

“If it’s a drink that my junior gives me, then of course I have to take it.”

We laughed and exchanged drinks.

And the IMF executives seemed to know what I wanted.

They hope to mobilize the power of the IMF to move the government and creditors to write off the debt.

I’m glad I acquired the company at a low price.

From the government’s perspective, it was a good thing because it could save the company.

Such work should be carried out simply with the people’s taxes.

Honestly, it wasn’t the right thing to do.

However, even if I do not step forward, the government will proceed with corporate debt relief through taxes.

If I was going to do that, I wanted to benefit from it.

* * *

I had a great time with the IMF executives for a few days.

Only after we became close enough to each other that we were like brothers and sisters in private did I leave Washington and head to Las Vegas.

Preparations for CES were in full swing in Las Vegas.

Steve was also staying at a Las Vegas hotel and was busy preparing for his iPod presentation.

“Please think about your body while working. “Half of my face became half-faced without me even seeing it.”

“Because Las Vegas food doesn’t suit my taste. Still, it’s worth it because I just have to struggle a little more.”

Steve was a vegetarian.

Add to that the unreasonable schedule, and fatigue was accumulating.

“There are only a few days left now. “This is the day the iPod was introduced to the world.”

“ah! Today was the last day of 1997. It’s a little early, but Happy New Year!”

“The new year will be the year of Apple.”

“It will be the year of Apple and Taewo Group.”

Steve’s jokes had a thorn in them.

It was Steve who was talking about the Taew Group taking a significant portion of Apple’s sales in the name of royalties.

I had nothing to say about that part.

If I hadn’t intervened, Apple wouldn’t have handed over its sales to Taewo Group.

So I quickly changed the subject.

“I heard that the negotiations with the record company are going well.”

“They were terrible people. Since I don’t know anything about IT technology, I couldn’t understand. But when the fire fell on my feet, I hurriedly held our hands.”

“Negotiations would have been more difficult if the record company’s sales had not dropped significantly due to the P2P site.”

Actually, I was very worried about this part.

Record companies were generating a lot of revenue from CD sales, and it was clear that they would react negatively to unfamiliar MP3 music.

If only P2P sites hadn’t appeared earlier.

It was likely that negotiations with music companies would be completed only after the iPod was released.

“Are you bragging that the negotiations with the record label went well thanks to you? “If you want to show off, I’ll make it cool.”

“I didn’t say this to brag. “I said that because I was really worried.”

“no. You are much ahead of your time than me. Didn’t you take the MP3 player and negotiations with the record company into consideration in advance? “You have a broader and deeper perspective than anyone I’ve ever seen.”

My face felt hot.

No one else but Steve was showering me with compliments.

It was on a different level from the flattery I often heard from CEO Woo Seong-il.

At Steve’s compliment, both shame and pride rose up in my heart.

“I am a person with many shortcomings. “Even if you can draw the big picture better than others, you often miss the details.”

“Why do managers pay attention to details? Wouldn’t that be hiring an employee to do that? And I’ll fill in everything you missed, so don’t worry and just do what you want to do.”

I could feel the sincerity in Steve’s words.

He recognized me as his true partner.

“We ask for your continued support. “I am confident that if Apple and Taewo Group join forces, we can become the best in various fields, not just mobile phones and MP3 players.”

“I agree to a certain extent. But you seem to be drawing the bigger picture again. Are you planning to develop other products as well as mobile phones and MP3 players?”

“For now, I have only drawn abstract pictures. “I will tell you more about it after the iPod is released.”

“Let’s do that. Even just the presentation is giving me a headache. “If I were to hear a more complex story here, my brain would be overloaded.”

Steve’s eyes were bloodshot.

If we talk a little more, I’ll really collapse.

I woke up early for him so he could rest.

* * *

As time passed, CES was held.

Public attention was directed to Apple.

Apple unveiled the InnoPhone, which can play music, at the German Consumer Electronics Fair.

Word of mouth had spread widely because the iPod had been released to a small number of people in order to persuade the record company.

Steve Jobs went up to the podium, attracting everyone’s attention.

He began his presentation with a smile.

“Today we would like to introduce you to an innovative product. “There are some people who are tired of hearing the word ‘innovation’ come out of my mouth every time, right?”

[ha ha ha!]

It was Stevie who took out an iPod from his pocket and the crowd laughed.

“This is a truly innovative product today. “Introducing the iPod with amazing technology and amazing design.”

He held up the iPod with only his thumb and index finger.

I tried turning it around to emphasize its thin design.

“When I was in high school, I used to carry a heavy cassette player on my shoulder for style. But now I carry a CD player in my bag. But now the era of the iPod, the MP3 player that can be carried in your pocket, has come.”

He takes a step back.

Detailed specifications of the iPod were displayed on the large screen.

“It can store up to 100 songs and is equipped with next-generation battery technology that can be played continuously for more than 10 hours. No more need to carry multiple CDs. An iPod can store up to 10 CDs worth of music. “Welcome to the era of the iPod.”

Steve announced the beginning of a new era.

The public also responded enthusiastically to the iPod’s design and features.

But it’s not over yet.

Until now, it was just a matter of boasting about the design and specifications.

Now it was time to tell a compelling story that would move the public’s emotions.

“How much effort does a singer put into releasing one song? “I compose and write lyrics, play and sing in the recording studio, and then produce the album with the help of a record label, with great difficulty.”

Steve brought out the story as if he were a singer himself.

“You can illegally download the music you worked so hard to create without paying a single penny. And unfortunately, illegally downloaded music can be played through MP3 players.”

Steve was angry and sad, pounding his chest hard.

“Music should be paid a fair price, and to that end, I created a site where MP3 files can be traded like albums. To be precise, we created a music site in collaboration with MCA Records and even received official certification from the Recording Industry Association.”

A music site created by MCA Records was broadcast on the large screen.

Steve pounded his chest again and raised his voice.

“I ask many people who love music. If you want to listen to better music, pay a fair price and listen to the music. Apple will work together to protect singers’ copyrights.”

The presentation was like a public service announcement.

But the person speaking was Steve, and there was something in his voice and gestures that shook people’s emotions.

The crowd even shed tears and applauded.

At the same time, I received a text message from a team leader.

[The number of users accessing the music site is flooding in!]

* * *

After the CES event, I returned to Korea.

Meanwhile, the popularity of the iPod was soaring.

All inventory was sold out within three days of launch, and access to music sites broke new records every day.

“Apple’s stock price has more than doubled in a week. “It’s Steve, after all.”

“I think things in America will take care of themselves. Now let’s focus on Korea. Dimon has a lot of work to do.”

I returned to Korea with Dimon.

It was for a full-scale corporate takeover, and Dimon swallowed his saliva like a hungry hyena.

“Where should I start? “I will take it from anywhere for a cheap price.”

“There is something my grandfather told me. “It’s not a cheap price, it’s a very reasonable price.”

“It’s a reasonable price. That’s a very good thing. So where do I start?”

“Let’s start with Kai Motors. “It is an automobile company that was ranked 4th in Korean business circles.”

“I like it very much. “It has to be on that scale for it to be worthwhile for me to step forward.”