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CH299 | Heir
🕑 Added 2025-09-21 05:39:41 +0000 UTCElectric vehicles were still an unfamiliar field.
Most consumers tended to stick with products they knew, and anything that deviated too much from existing specifications was often ignored.
But there were exceptions.
Loyal Apple customers, who loved novelty and innovation, were eager for new experiences.
Of course, this applied only to products bearing the Apple logo—but since the Taewoo-Kia electric vehicles would carry the Apple logo, there was no issue.
“We are currently producing prototypes. Thanks to Apple’s designers favoring a simple design, production has not encountered major issues. Only a few areas require curved surfaces, so we are adjusting the materials and molding techniques accordingly.”
“So prototypes will be ready soon?”
“Yes. At the latest, we can have prototypes within three months. Mass production, however, will realistically begin no earlier than the end of this year.”
I smiled with satisfaction at the report from the Head of Planning.
If mass production of the Apple-Taewoo car was possible by the end of this year, influencing lawmakers in the U.S. and Europe to create supportive electric vehicle legislation would be a trivial task.
“Have the chargers been completed?”
“For fast chargers, TDK in Japan collaborated with Taewoo Battery and successfully developed them. Both companies have systems ready for immediate mass production.”
Although the Head of Planning referred to a Japanese battery company, in reality, SAVE Investment had acquired it in Japan, making it effectively an American company.
It was also a company into which I had poured billions over several years.
“Then start mass production immediately. By early next year, we will establish a large network of charging stations in major cities across the U.S., Europe, and Korea.”
“The scale is too large for Taewoo Group to handle alone. The cost of installing charging stations is expected to be several times higher than the production cost of the vehicles themselves.”
“Of course, Taewoo Group cannot handle this alone. In the U.S. and Europe, we will seek political support. In Korea, we will also seek government assistance. And if that fails, we will bring in investors to at least establish the charging infrastructure first.”
Cars cannot operate without gas stations.
Electric vehicles were no different—they required charging stations for commercial viability.
“Then we’ll begin mass production at the Taewoo Battery factory.”
“I’ll inform TDK separately, so you only need to focus on Taewoo Battery. Any other reports?”
“Taewoo IT’s sales have increased significantly, and Taewoo Electronics is showing similar growth.”
“Grandfather must have managed Taewoo Group well while I was away.”
“Our retained earnings have also recovered to levels similar to last year.”
We had spent retained earnings like water on mining rights and various projects.
But Taewoo Group owned more than one or two cash cows, so the money quickly began to accumulate again.
In particular, semiconductor sales were rising sharply with the growth of the smartphone market, and Taewoo IT was proving itself a valuable contributor.
It was thanks to these cash cows that we had been able to acquire AIG and GM.
“Even if retained earnings are building up again, once we stabilize GM and enter a chicken game in the e-commerce market, that money will vanish quickly.”
“Yes, that is a concern. The ten largest companies outside of Taewoo Group are steadily accumulating massive retained earnings. Samsung Group, in particular, holds nearly 100 trillion won in retained earnings.”
“Having retained earnings doesn’t earn you any awards. At most, it generates interest income, which barely reaches ten percent. If you can earn dozens of times more through proper investment, then of course you invest.”
There was no point in hoarding 100 trillion won in retained earnings.
Even in interest-based operations, the returns were minimal.
But with proper investment, profits could exceed tenfold, so there was no reason to hold back retained earnings.
Of course, failure would lead to regret.
I never invested in ventures destined to fail, and I was confident I could make any seemingly risky business succeed, so I never hesitated to use retained earnings.
“We’ll proceed as discussed. Also, there’s one more item to report. The Seoul Subway Line 9 project, being executed by Taewoo Construction, will be completed in June.”
“It’s already reached that stage?”
“Yes. However, there’s chatter in several circles. Some are saying a hearing should be held to explain why the construction exceeded the demand forecast conducted by the city of Seoul.”
“They suspect that we deliberately increased the project scale to pocket more construction costs, huh?”
During the foreign exchange crisis, we had undertaken several national projects.
These were ventures where Taewoo Group invested entirely in exchange for the project contracts.
The Line 9 project was no different; all construction costs were secured through Taewoo Group or consortia that included SAVE Investment.
“Public transportation is an issue the political sphere can easily exploit, so it seems they’re targeting it.”
“We funded and built it ourselves—what’s the problem? We haven’t embezzled construction funds.”
“The suspicion arises because construction costs are offset through fares, leading some to think the project scale was deliberately inflated.”
“Local elections are only a year away, so it seems like they’re trying to create an issue to boost their visibility.”
“There’s even talk that the chairman could be summoned as a witness for a hearing.”
For politicians, fame was everything.
A hearing was the perfect opportunity to boost their public profile, and they would undoubtedly want to stage a scene where they berated and scolded the head of a company.
Moreover, most company executives would simply bow their heads and apologize.
So from a politician’s perspective, they would do everything possible to summon a corporate leader to a hearing.
“If a summons is issued, we’ll try to ensure that an executive, not the chairman, can appear as a witness.”
“Even if they demand your appearance, no one can force it. You can refuse through an overseas business trip or hospitalization.”
The two secretaries were explaining the loopholes.
I generally didn’t want to attend such events either, but I had no intention of dodging them through trickery.
“If a summons arrives from the National Assembly, just accept it. We haven’t committed any crimes, so there’s no reason to avoid it.”
“Even if there’s no crime, a hearing is designed to humiliate. Instead of seeking justice, they’ll try to capture the chairman’s embarrassing moments on camera.”
“That’s exactly why we go. The better the camera captures it, the more useful it is as evidence.”
A hearing could elevate a politician’s fame, but it was also a stage for producing the politician’s own humiliation.
Misreading the situation and trying to humiliate recklessly could even end a politician’s career—a double-edged sword.
“Any other reports?”
“It’s not urgent, but I have a report regarding film festivals. At last year’s festival, no films released on OTT platforms were nominated. The same occurred at the festival earlier this year.”
“The Oscars are just around the corner, so things should change now.”
The Academy Awards were only a few days away.
Director Bong’s film had been proudly nominated for Best International Feature.
A mere nomination would have limited impact, but if it won, the situation could change dramatically in an instant.
***
A few days later.
I met with President Han in Captain Kang’s office.
At the company, we had to wear stiff shoes and constrictive ties.
Here, loosening a tie and wearing slippers drew no criticism.
“Do you really think Korea can win the Best International Feature award? Most observers say it’s already miraculous that it made it to the final nominations.”
“Thanks to David’s efforts, it reached the final nominations. Now, we just have to rely on the quality of the work. If the film is good, it can win, can’t it?”
“If that happens, it would be the first time a Korean film wins an Oscar—definitely a historic achievement. Japan, China, and Taiwan have won in Asia, but Korea never has.”
In the global film industry, Korea was still considered peripheral.
Korean films were loved domestically, but they hadn’t yet gained widespread acclaim overseas.
“This is also the first time a Korean film has made it to the final nominations, as far as I know. That alone is impressive, but of course, winning would be even better.”
“Looking at public opinion, there’s been an uproar over Bong’s film being excluded from Korean film festivals. The news even reports that the film, despite being nominated for the Oscars, couldn’t even secure nominations in Korea.”
It’s like the World Cup.
Our country had never won the tournament, but people celebrated and cheered wildly.
Just making it to the finals was enough for huge recognition.
The Academy Awards were similar.
Even without winning, making the final nominations brought immense attention and celebration.
And the media would inevitably cover why the film was excluded from local festivals.
“The first goal is achieved, but still, I hope it wins.”
“Huh? Isn’t that David over there? Wow, he’s really making the rounds.”
David briefly passed in front of the camera.
To a stranger, it might have gone unnoticed, but we recognized him immediately—he was that familiar.
“Considering how much money he’s invested in the film industry, he certainly deserves to attend the awards.”
“Meanwhile, someone is just drinking beer here. Seeing David doing that really twists my stomach.”
“If you think you can drink beer 365 days a year in David’s place, then feel free to switch roles.”
“I just had a health check-up. My liver isn’t in great shape, so I’ll settle for just beer.”
Even as we joked back and forth, the awards ceremony continued.
Finally, the moment we had been waiting for—the Best International Feature award—arrived.
The Austrian director who had won last year stepped onto the stage, checked his cue cards for a long moment, and announced the winner.
[Bong Ho-jun!]
Surely I hadn’t misheard.
I quickly glanced at President Han, and he was frozen in place, beer still in hand.
“Chairman! Did I hear that correctly?”
“If neither of our ears is defective, then yes, you heard right.”
Our ears were fine.
Director Bong Ho-jun was confidently walking onto the stage to receive the award.
“I had expectations, but I never imagined we’d actually win.”
“David really pulled off something incredible. The morning newspapers are going to be in an uproar.”
“The backlash against Korean film festivals will intensify even further.”
“That works in our favor. From now on, it’ll be much harder to exclude films released on OTT platforms.”
Director Bong winning at the Academy Awards had also happened before my return, but this time, it was ten years earlier than it originally occurred.
OTT services had also gained mainstream popularity much sooner than in the original timeline.
I set down the beer I had been drinking.
There was no time to sip beer when I had to check the morning papers and news broadcasts.
