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CH187 | Heir
🕑 Added 2025-05-20 12:40:01 +0000 UTCI had to reschedule my flight twice.
Talking with Steve, I completely lost track of time, and before I knew it, I had to board my flight to Korea 10 hours later than planned.
"What time is it in Korea right now?"
"It's 8 AM."
"Looks like I'll have to head straight to the office. I had planned to arrive late at night, get some rest at home, but that plan is out the window now."
I had traveled to the U.S. with a secretary from my executive office.
Hearing that I was heading directly to work, he flinched slightly.
"Just drop me off at the office and head straight home. I’ll only handle a few urgent matters before leaving myself."
"N-no, it's fine!"
"You’re not trying to make me look like a ruthless boss, are you? I’ll inform the chief secretary—take two days off before coming back to work."
"Thank you for your consideration."
As we chatted, I cleared immigration and walked toward the arrival hall.
Surprisingly, even at this early hour, the airport was packed.
"Is some idol group arriving today?"
"I haven’t heard anything about that."
I didn’t think much of it and continued walking.
But the moment I stepped into the arrival hall—
Cheers erupted, and camera flashes went off from every direction.
[Vice Chairman Kim Min-jae! Can you share your thoughts on the WWDC joint keynote?]
[Is it true that all Taewoo Electronics’ new
products will be compatible with the iPhone?]
[Steve Jobs called you the inspiration behind the iPhone—could you elaborate on that?]
So they were waiting for me.
It wasn’t too surprising that reporters were here.
WWDC was a major event, and it made sense for there to be interest in Korea as well.
But what about them?
[Kyaaaah!]
[Vice Chairman! We love you!]
[Please look this way just once!]
A large group of people who looked like an idol fan club was also there.
Just in case, I leaned toward my secretary and whispered,
"Did the company arrange for people to be here?"
"Absolutely not! In fact, we kept the reception minimal to avoid unnecessary formalities."
So they had all gathered here voluntarily.
This had never happened before—why now, all of a sudden?
Could it be because of the joint keynote with Steve?
"Tell them we’ll release an official press statement with details."
"Understood. I’ll clear a path."
As I stepped outside, the crowd surged forward even more.
With the help of the waiting security team, I finally managed to escape the airport.
By the time I got into the car, I felt even more drained than from the long flight.
I stared blankly out the window on the way to the office, regaining my composure only after arriving at my vice chairman’s office.
"Chief Strategy Officer, what exactly happened while I was in the U.S.?"
"The joint keynote was broadcast live, and Steve's remarks at the developer conference were featured multiple times on national news."
"We've collaborated with Apple before, but the reaction this time seems different."
"That’s because Taewoo Electronics' new products are attracting a lot of attention. Especially among iPhone users—our customer service lines have been flooded with inquiries about the new releases. Also, your official fan club has been established."
A fan club?
Since when do business executives have fan clubs?
Then again, figures like Chairman Jang Young-joo and Association President Jang Myung-joon have gained enough public support to run for office. In Korea, entrepreneurs do have a certain level of popularity.
"The strategy team didn’t have anything to do with this fan club, did they?"
"Absolutely not. Even if we wanted to, we wouldn't have the capability. The majority of your fan club members are in their teens and twenties—a demographic we have no means of mobilizing."
"Make sure my schedule doesn’t get leaked. I don’t mind dealing with a little trouble myself, but if an accident were to happen, it would be a serious issue."
"We'll be extra careful with schedule management. We’ll also increase security personnel."
That was enough talk about the fan club.
There were more pressing matters at hand.
"Is everything on track for Taewoo Electronics' new product launch?"
"We're set to launch simultaneously in Korea and the U.S. at the end of this month. European and Chinese market releases will follow, no later than next quarter."
Strike while the iron is hot.
We had to roll out our iPhone-compatible appliances before the hype surrounding the iPhone 3 cooled down.
"There won’t be any production issues, right? We can’t afford to face shortages."
"We’re planning to produce more than twice the quantity of our usual electronic products. We’re actually more concerned about potential overstock than shortages."
I was especially sensitive about supply issues.
Ever since the Innophone days, I’d dealt with too many headaches caused by production bottlenecks.
That’s why I had given an aggressive order for mass production of our iPhone-compatible appliances.
"Producing extra stock from the start won’t cause an overstock issue. If demand slows, we can simply adjust the next batch."
"We’ve already started shipping inventory to our U.S. stores. I can confidently say we won’t run into any supply shortages."
Well, we’d find out on launch day.
Would we face stock shortages—or would we end up with excess inventory?
* * *
Taewoo Electronics' New Product Launch Day
I visited the Taewoo Electronics store in Jamsil with President Woo Sung-il.
"There’s quite a crowd here early in the morning."
"Some customers even camped out overnight."
"Camping out—not for an iPhone, but for home appliances?"
"Not just the Jamsil store—most stores across the country had lines forming even before opening."
Home appliances were high-ticket items.
That meant only a limited number of customers had the purchasing power to line up for them.
"They’re probably here just to look around. They’re potential customers, so make sure to instruct all stores nationwide not to neglect them."
"Understood!"
We stepped inside the crowded store.
The space was packed to the brim with customers, and for safety reasons, no more people were being allowed in.
"It looks like there are more customers hoping to purchase than expected."
"Please wait a moment. I'll bring the store manager."
President Woo Sung-il quickly called for the store manager.
The manager, who had been busy assisting customers, was startled and rushed over to us.
"I-I'm so sorry! We've been so overwhelmed with customers that I didn’t realize the Vice Chairman and President had arrived. My sincere apologies!"
"It’s our fault for dropping by when you're so busy. So, how are sales looking today?"
"They're at an all-time high! Since taking charge of the Jamsil store, I've never seen sales like this."
Clearly, customers weren’t just window shopping.
Judging by the store manager’s bright expression, sales must have been soaring.
"The new products are getting a good response, I see."
"‘Good response’ is an understatement! Especially among iPhone owners—many of them are buying the entire product lineup without hesitation."
"I’ve taken too much of your time. You can get back to work now. We’ll just look around a little more before heading out."
Not wanting to hold up the busy manager any longer, we let him go.
Then, I walked over to the new refrigerator with President Woo Sung-il.
Pointing at the sticker on the upper left corner of the fridge, I asked:
"This kind of sticker costs less than 1,000 won to produce, right?"
"Since we buy in bulk, it probably costs less than 100 won."
"And yet, people are willingly spending over a million won on a product just because that sticker is on it."
A sticker with the Apple logo.
A symbol that signified compatibility with Apple products and a collaboration with Apple itself.
"I never realized there were so many wealthy people in Korea. I never imagined people would buy all five appliances just because they’re Apple-compatible."
"Let’s discuss the rest back at the office."
Even on the drive back, reports from stores nationwide kept coming in.
News poured in from across the country—every store had broken its previous sales records.
"Even stores in the outskirts are packed with customers."
"It seems customers from major cities are making trips to those locations as well."
As we discussed the situation, we entered the company building.
Waiting in front of my office was an unexpected visitor.
"President Ahn Deok-hwan, what brings you here?"
"I had an urgent matter to discuss with you and President Woo Sung-il, so I came without prior notice."
"Please, come in."
Ahn Deok-hwan, the president of Taewoo Construction.
He had made a name for himself during the 9/11 attacks, swiftly rising to the top and stabilizing the company’s operations.
For someone like him to show up unannounced—it had to be something significant.
As soon as we stepped into the office, I got straight to the point.
"What’s the issue?"
"I want to install Taewoo Electronics' new appliances as the default options in the high-end apartments we’re about to complete."
"That’s only natural. It would be strange for a Taewoo Construction project to use appliances from another company."
"But I was informed that there's a shortage of stock. We must secure the appliances before the residents move in."
I turned to look at Woo Sung-il.
Scratching his head, he hesitated before explaining.
"It seems there was a miscommunication. We had planned to discuss this after evaluating sales trends, but the message must have been distorted along the way."
"Hmm… Are we facing a supply shortage?"
"It’s too early to say for sure since sales are still ongoing today. However, demand is exceeding our forecasts."
I saw right through his intentions.
He had likely intended to test Ahn Deok-hwan’s patience.
By implying that stock was unavailable, he was trying to exert leverage over Taewoo Construction.
But the situation had escalated beyond mere tactics—there was now a real risk of not having enough units to supply the apartments.
"If stock runs low, prioritize the apartments over the retail stores."
"Understood."
"But didn't you confidently assure me that there wouldn’t be any shortages?"
"...We'll take measures to prevent any issues. We’ll increase production by implementing night shifts and overtime."
Since a stock shortage hadn’t actually occurred yet, I couldn't press him further.
However, if such a crisis did arise, Woo Sung-il would be forced to step down.
It wasn’t just his lack of competence that was the issue—his attempt at a meaningless power struggle with another company executive would also be judged harshly.
* * *
The next day.
The planning director arrived at my office with a sales report for Taewoo Electronics’ new products.
"We’ve recorded the highest sales in Taewoo Electronics’ history. The response has been incredible, not only in Korea but also in the U.S."
"It’s not just a one-day spike, is it?"
"Customers are already lining up again nationwide today. Our department predicts that demand will remain strong at least through the first half of the year. Plus, with the iPhone 3 launching next month, sales could increase even further."
Taewoo Electronics’ new products were compatible with the iPhone 2.
However, they required an app installation and could only be operated via touch. From the next iPhone version onward, they would also support voice commands.
"Sales are bound to grow even more. Will production be able to keep up?"
"All Taewoo Electronics factories have started overtime work as of today. But if this trend continues, we will still face stock shortages."
"Then we’ll have to initiate overtime at our overseas factories as well."
"To fundamentally resolve the production issue, we need to build additional factories."
I had already been considering this.
In particular, I was planning to build overseas factories.
Vietnam, where my grandfather had invested significant effort, and India were the top candidates.
