Episode 161. Putting eggs in one basket.
“Combining goggles and U-map? What does that mean?”
“In the future, goggles will spread all over the world. Of course, in Korea, the DAJI portal is in place, so it will not be able to use it properly, but in most other countries, it will become an absolute powerhouse of search portals. I’m thinking of putting our U-map in those goggles. For example, if the user of the goggles is American, they will show a map of the United States, and if they are British, they will show a map of England, but they will all be our maps.”
Daewon-hyung thought for a moment and then opened his mouth.
“I’m sure you will like the goggles if you tell us to put our U map in. But how does that lead to our benefit?”
“We will make the U-Map service available only on Easy OS.”
Daewon hyung lightly hit the table with his hand.
“ah! That’s a really good idea. Then it will become a weapon that can check the D-Window.”
“yes. Besides, I plan to use that U map as bait to secure a stake in Goggles.”
“A share of goggles? It’s a place that hasn’t been listed yet. How do you get a stake?”
“I’m going to go and negotiate in person.”
“Um… If the future is as promising as you said, would you like to give up your stake easily?”
“haha. I have a way to think about it. Anyway, I think I will have to go on a business trip to the US for a few days, so please be aware of that.”
“okay. There is no way you would have said that without thinking. Let me know when the exact date of your business trip is set.”
After Daewon’s older brother left, I called Hongin Media’s president Oh-chan Jung.
“Chief Jung. You should make a program for D-Tab4.”
“What program?”
President Jung asked me about the instant message.
“Now, Nyworld is providing a real-time chat service. It seems to be a similar service, do I need to create it separately?”
“There is a big difference. First, instant messages can be delivered to people who are not connected to the Internet. It’s not a real-time conversation, so it’s good for people who have a hard time chatting because they’re slow typing. And second, the chat service requires a separate login to Nyworld, but instant messages are automatically logged in as soon as you turn on D-Tab, so you can immediately check messages sent to you. That means it’s a lot easier to communicate than a chat service.”
“Oh, I see. After listening to the words, the difference is clear.”
“Yes? I named it D-Tok. The schedule is a little rushed, but can you finish development before the D-Tab4 release date in June?”
Jeong nodded his head.
“We have a history of developing chat programs, so if we start with that, we will be able to finish it by then.”
“That’s fortunate. Then, report the results in between.”
About 10 days before the university graduation ceremony, I got a call from the president of Seoul National University.
“Student Jaewoon Kang. He is the Principal.”
“Ah… yes, hello. President. But what happened…?”
“You were selected as the representative of the bachelor’s graduates in 2002. Congratulations.”
“Are you a graduate..representative of alumni?”
“Um… isn’t that usually the person with the best grades?”
My GPA was around 4.0.
Although I was on the side of the axis with pretty good grades.
At Seoul National University, there were many geniuses who scored 4.2 or higher out of 43,000.
If you line up in order of grades, I don’t think I’ll even be in the top 50 in front of you… Are you saying that I’m the representative?
“haha. That was until last year. However, there are many opinions that it is too narrow to judge students based on their grades. And the faculty unanimously agreed that Jae-Woon Kang was the best fit for the representative.”
“To be honest, I didn’t work very hard because I was working and studying at the same time. There are many students who can be more exemplary than me, so why not give them a chance?”
Preparing for a speech that didn’t make any money was not motivated and was just annoying.
So he declined, but he persistently recommended it again.
“Student Jae-Woon Kang, no, Jae-Woon Kang, CEO of Damo-Yeo Kang, has built a huge corporation before graduating, and is giving dreams and hopes to students all over the school just by walking in the footsteps of his past. If such a person does not have the qualifications to represent the graduates, who can be the representative? I know you are a busy person, but please work hard for the school.”
It comes out like this, but there’s nothing I can do about it.
“All right. There’s no reason to deny it when you say so. I will take over as the representative of the graduates.”
The principal smiled happily.
“haha. Thank you. Even if you are the representative of the graduates, there is nothing special to do except give a brief speech, so you can come out with a light mind.”
this bastard Because that speech is the problem!
#Yuhwan Bank, the office of the president of the bank.
I was alone with Na Woong-jin, who returned to the bank president after the takeover process was completed.
“Bank chief.”
“Are you happy to come back?”
At my words, I, the bank manager, nodded with a new expression of emotion.
“Good. By this time, I thought I was going to be homeless and farming or building… Thanks to meeting the CEO, I have even taken on a major role in saving Yuhwan Bank. It was a heavy heart to leave behind a bank whose management was still difficult, but I am more than happy that I had the opportunity to do something for the bank.”
“haha. An additional 2 trillion won will be injected through the capital increase process to normalize the currency exchange bank within the next month. The BIS rate will go up quite a bit, which will restore a lot of confidence in the market. Do not miss the opportunity to aggressively receive deposits to maximize your capital. All existing loans are withdrawn at maturity.”
“As I said before, please return all newly received deposits and recovered funds to TM Display and TM Foundry Loans.”
With Yuhwan Bank’s funds in mind, Display and foundries were aggressively investing in line expansion and facility upgrades than before.
At present, the funds accumulated in TM Future Corporation were over 20 trillion won.
Because the amount of investment that would go into the two companies was going to be about double that.
From now on, it was necessary to gradually raise funds.
At that, the bank manager asked me with a slightly worried expression on his face.
“I know they are both top-notch companies, but there is still a saying, don’t put all your eggs in one basket, don’t you? How about considering other companies?”
“Let’s put aside the fact that those companies are the companies I own. Is there any other lender that is more stable than those companies in your opinion?”
As for TM Display, D-Tab and Kowon Electronics’ LCD TVs have been sold like wings, and have already recorded 700 billion won in monthly revenue.
Because there were no more panels, so I couldn’t sell it.
3 units of the 8th generation line were being built at the same time.
The same was true for TM Foundry.
Thanks to the first application of the 90nm (nanometer) process among foundry companies, orders for various system semiconductors were pouring in.
The line was being expanded on a large scale.
After thinking for a moment, the bank manager shook his head.
“…I don’t think so. In terms of credit rating, those two are higher than Hwansung Electronics.”
“Yes? If even those two companies go bankrupt, you can say that the global economy has already come to an end. These companies have a lot of in-house funds, so other banks can’t give them a loan even if they want to. Rather, being able to lend to those companies is a benefit that Yuhwan Bank receives from being incorporated into our affiliates.”
“Well, come to think of it, I haven’t heard from where those companies got their loans.”
“yes. So don’t worry, let’s proceed as planned.”
“All right. CEO.”
#I got on a flight to California, USA with Lee Guk-hyun to bring Internet company goggles into my business.
After getting off at Senaj Airport and staying overnight, we headed to Mountain View, where our headquarters is located.
As we entered the front door through the colorful sign that said ‘Gogle’, the secretary greeted us.
“Are you Mr. Kang from Damoye?”
“Our boss, Mr. Schuma, is waiting for you.”
I left this chief at the desk and followed the secretary.
Although the founders of Goggles are Larry Poe and Sergey Bane.
The CEO was Eric Schuma, who was hired as a professional manager.
share is small.
Because he was so knowledgeable and experienced that even the two founders could not easily reject Eric’s opinion.
In order to combine U-map with goggles and acquire a stake, I had to convince him first.
As I entered the office, a man in his late 40s with a round impression greeted me.
“Welcome to Goggles, Mr. Kang. It’s an honor to meet the creators of the Tablet PC like this. haha.”
“Nice to meet you, Mr. Schuma. I’ve also heard a lot about Goggles’ CEO being a great person. It’s really nice to see you face to face.”
We sat down at the round table and continued the conversation.
I brought up the subject first.
“I am here to make an offer.”
“It’s a proposal from the most famous person in the PC industry these days… I wonder what it will be like.”
I took out the D-Tab, opened the Internet window, and accessed the DAJI portal.
“This is an item called U Map that we are currently servicing in Korea. You can easily know the geography of the whole country, and above all, if you search for a place name, it can be displayed directly on the map, so synergy with the search portal is very good.”
Eric looked at D-Tab with interest.
“I guess so. If you search for a place like a restaurant and the location appears right away, it will be very useful for users.”
“yes. In addition, U Map has features such as aerial view taken by plane, satellite view taken from satellite, and street view taken directly, so it goes beyond the concept of providing geographic information, and can give you an immersive experience as if you have been there.”
Eric opened his mouth with a look of admiration.
“Wow! This is not just a service that assists with a search portal, but it is a complete platform that users can enjoy in itself.”
“That’s right. We have a plan to expand U-Map worldwide, and as a partner for that plan, we decided that Goggles would be the best fit. What do you think of Mr. Schuma?”
After thinking for a moment, Eric opened his mouth.
“This is definitely an attractive item. I think it will go well with our goggles. But Mr. Kang isn’t a philanthropist, and there’s no way you can just give this good item. What do you want?”
“I want to go long with you. In that sense, I would like to make some equity investments.”
“Equity…investment?”
Erik said, stroking his chin and thinking about it.
“Since our founders place great importance on management rights, we are not currently accepting equity investments. In the original case, you would have to reject it unconditionally, but it must be difficult because the item you brought is so attractive. Let’s hear the story first.”
“My condition is this. With an investment of $500 million, we want a 60% stake.”
