LK Smartphone Division
Earth console project.
It was an idea in my head, but I wanted to turn it into reality.
‘It’s a world where you can make anything if you have money, technology, and consumers.’
Suddenly, Elon Musk came to mind.
Did he envision all the businesses he is doing now from the beginning?
Electric cars and satellite internet, hyperloops, rocket businesses.
Even one challenge is difficult for an ordinary person, but he is putting everything into practice step by step.
〈Elon Musk, “SNS is a must. I want to take over Twitter.”＞
Even though I did something stupid.
〈Success of Earth SNS Stimulates Elon Musk’s Desire to Own Twitter?〉
〈Elon Musk Will Need to Spend $58 Billion to Acquire Twitter〉
〈Does the competition between the super rich take place on the social media stage?〉
Contrary to the expectations of the media, there was no interest in the SNS competition with Elon Musk.
‘Competitors are everywhere. Earth SNS should give people more fun.’
I wanted to quickly start the earth console business.
‘Based on my experience so far, if I entrust the production to Lee Sung Electronics, it would do well… … .’
Reliable in hardware manufacturing capabilities. However, I felt that I was doing too much cooperation.
From a management point of view, it was not desirable to entrust production to only one company.
‘I think Japanese companies are expensive and slow.’
A Korean company came to mind, and it was LK Group, which is in competition with Isung Group.
As for home appliances, it was a company that took the world’s No. 1 spot in the field of household appliances, with refrigerators and washing machines being recognized to such an extent that there is even a word LK.
Of course, it would be painful to lose the semiconductor and mobile divisions due to sluggish business over the past 20 years.
“Jongyeop, contact the LK Group in Korea.”
“The LK group?”
“yes. Let’s take a look at the estimate.”
* * *
“Did you get a call from Earth Resources?”
Gu Jin-mo, a young general manager in his early 40s, smiled softly after receiving the message from the secretary’s office.
“Is it because our company sponsored Arsenal this time?”
In the LK group, Arsenal’s sponsorship was established.
The opposite sex group decided to participate together, even though they became the main sponsors first.
The reason for this is that it has a global publicity effect, but it was none other than the thought of wanting to look good to Kim Shin.
“Chairman, I don’t think the call came from a routine thanks.”
“sure?”
“CEO Shin Kim contacted me saying they would like to talk about business.”
Gu Jin-mo’s face became serious.
Three years have passed since he took office as the chairman of the LK Group.
I’ve been through a lot, including Corona, but I thought this was a really important moment.
“Connect me right away.”
“yes. President.”
While I took a moment to catch my breath, the phone call with Kim Shin was connected.
“hello. This is LK’s Jinmo Gu.”
-Nice to meet you. This is Kim Shin.
After the greetings, the business stories going back and forth were not light from the beginning.
“Are you saying Earth Resources will release a game console next year?”
-yes. We are trying to proceed as quickly as possible in the first half of next year. Production volume is scheduled to start at 10 million units, and production should be increased depending on the situation.
I was surprised to learn that a game console would be released, but the development schedule and quantity were insane.
‘Let’s stay. How many smartphones from LK Electronics were sold the other day?’
The smartphone business, which was fiercely competing with Lee Sung Electronics, did not want to let go until the end.
There was a time when it led the mobile phone industry with Chocolate Phone, Shine Phone, and Prada Phone, but at the beginning of this year, the smartphone business division, which was only accumulating losses, could not stand it and had to be closed.
However, at Earth Resources, it is said that the production of the game console that is just released starts from 10 million units.
“thank you. LK will do its best to produce it.”
The relationship with Earth Resources was very important. After accepting an offer to produce game consoles at a price that was hard to leave a margin on, bigger things remained.
Kim Shin’s voice came through the phone.
―It may be an rude word. I understand that LK closed the smartphone business.
“yes… … .”
Gu Jin-mo cleared his stomach and replied. Discontinuing the smartphone business was a decision he made himself.
―Has the smartphone division been completely dismantled?
“It’s still in the process of being sorted out.”
It has been researching and developing for a long time, and there have been AS and parts supply for mobile phones sold on the market.
Smartphone production factories in Vietnam and Brazil were in the transition stage to home appliances.
I heard Kim Shin’s voice.
“Then I want to buy the entire smartphone division.”
* * *
I have used LK’s smartphones several times while living in Korea.
“Guests, promotional items, free phones!”
I heard a word while walking on the street and went into the store to change my cell phone.
‘It’s copper long copper.’
Optimus V4, which means ‘the best’.
Compared to the Galaxy mobile phone used by Kim Sang-ki, the touch and operation feeling were not good, and the response speed was a little slow.
Sometimes it reboots randomly.
‘I should have bought a cell phone from Apple or Lee Sung.’
When I was an office worker, I couldn’t buy Apple because it was luxurious and expensive.
Although I thought that LK mobile phones were not very good, I opened them in a holy land where subsidies were generous and I used 3 of them.
‘It’s all bad.’
It’s usable, but the quality was poor compared to the product of Lee Sung Electronics that came out in the same year.
Progress in the mobile field is slow, and I feel like I keep going wrong.
‘I don’t think these guys should do this.’
In the end, LK Electronics closed the smartphone division, but it was not far behind in terms of basic technology or innovation.
In particular, Eddie and Oh Myeong-woo were the reason why he was greedy for the LK smartphone division.
“Hyung, did you hear that a rollable mobile phone is coming out from LK?”
“Rollable?”
“When you press the button, the screen expands sideways. Like unfolding paper. It’s very strange and I think it will be fun.”
Oh Myung-woo spoke from the side.
“LK’s smartphone division could have been a huge success if the management had good judgment.”
“Aren’t most companies like that?”
“LK is especially like that. I don’t know how to make something good and promote it. The really bad thing is that they promote it very diligently.”
That’s why they were greedy for LK’s smartphone division.
Maybe you can make your own Earth phone or Earth console.
At least in the field of hardware research and development, it seemed that I could get a lot of help.
―Are you talking about the smartphone division?
“yes. I want to take over that division.”
―You mean to buy a part of LK Electronics. LK Group does not prefer mergers and acquisitions or corporate sales.
In fact, Chairman Koo Jin-mo felt regretful to hand it over.
It could be difficult to sell due to various patents, employees, and factories.
‘If it’s ambiguous, it’s a waste to give it to someone else.’
You probably know that I bought Hunminjeongeum by Lee Seong-electronics and distributed it all over the world.
Electronics companies were everywhere, so no matter which choice I made, I had no regrets.
Chairman Koo Jin-mo said that he must have made a decision after a while.
―As the chairman of the group, I feel sorry for the employees who worked hard in the smartphone division. I’ll have to talk to the executives, but I’m in favor of the sale.
“Thank you for making the tough decision.”
―Employees will be happy if you tell them about the acquisition of Earth Resources.
It even sounded bittersweet.
The next day, there were extensive articles in Korean newspapers.
〈Kim Shin takes over LK Electronics〉
〈Earth Resource Dominating the Content Market, Next Target for LK Group?〉
〈The rumor of a big deal between Kim Shin and LK Group spreads far and wide in the business world〉
〈Blind reactions from LK Group employees are welcome〉
The article was a bit absurd, perhaps because the information spread within LK Electronics, but I tried accessing the blind to see the reaction of office workers.
―I envy LK Electronics. After being second place in his later years, behind Lee Seong-electronics, it will be reborn as a world-class company in an instant after a change of owner.
―Today, the upper limit of LK Electronics’ treasury stock is great.
―Is there ever a day when a core affiliate of a conglomerate hits the upper limit?
―Wouldn’t Kim Shin take over our company?
―The Hunminjeongeum team, who was a child abandoned by Lee Sung Electronics, became the crown prince after going to Earth Resources. In a few months, I was treated as a word program developer by people around the world.
―I am an employee of LK Electronics. Hahaha I went to work today, and the staff’s smiles were in full bloom as soon as I came out of the subway. Making a serious face while passing through the company lobby is awesome.
―I am an employee of LK Electronics. Hahaha I went to work today, and the staff’s smiles were in full bloom as soon as I came out of the subway. Making a serious face while passing through the company lobby is awesome.
“Hmm… … .”
I’m thinking of bringing only the smartphone division from LK Electronics.
Although the LK Group will issue a correction article anyway, I felt sorry for Chairman Gu Jin-mo.
If you check the blinds, you will be able to find out the reaction of the employees of your company.
〈Distribution of official press release by LK Group, rumors about the takeover of LK Electronics are erroneous, and the sale of the smartphone division, which has closed its business, is confirmed＞
〈Kim Shin takes over the smartphone division of LK Electronics〉
A few hours later the explanatory articles came out and the blind app got hot again.
―I can hear the sighs of LK Electronics employees from here.
―It was good. Totally ruined.
―I am an incumbent Lee Sung Electronics employee. I almost lost out of envy, but I’m glad I did.
―Isn’t our company sold? ah… … . stomach ulcer.
―I work for LK Electronics, but it is a good company. But it would have been better if it had been sold to Earth Resources… … .
* * *
Seon Jae-yong, vice chairman of Lee Sung Group, obtained the information before it was reported to the media.
“The theory of taking over LK Electronics?”
“Yes, rumors are spreading in the business world.”
The information capabilities of the Lee Sung Group were absolute in Korea.
“It’s LK Electronics, so if CEO Shin Kim wants to take over, it won’t be difficult, but why bother buying LK Electronics?”
“We will figure it out as soon as possible.”
The Lee Sung Group’s management support team and secretarial staff were fully operational.
In the meantime, Seon Jae-yong was deep in thought.
‘Are you thinking of making your own Earth phone? Of course, it should be possible, but it would be cumbersome if I took over LK Electronics just for that job.’
At the time of signing the contract with Earth Resources, the exclusive production rights for Earth phones were guaranteed for two years.
I was able to leave Lee Seong-Jeon after the deadline, which is a common occurrence in business relationships.
Isung Electronics was competing every year to produce CPUs for Qualcomm or supply memory chips to Apple.
‘If you want to entrust simple production, it would be enough to place an order with Foxconn or other companies in Taiwan.’
As I was thinking about it, an idea suddenly came to my mind.
The Isung Group was promoting the establishment of semiconductor factories worth tens of trillions of dollars in the United States.
There was pressure from the US, which has semiconductor source technology and production markets.
Seon Jae-yong asked the chief of staff.
“CEO Kim Shin recently met with President Biden, right?”
“That’s right. There was an article saying that President Biden slept overnight at CEO Kim Shin’s house.”
While the President of the United States came and went to sleep.
Kim Shin is young and popular, so he seems to want to be seen in the world as a comfortable friend, but it was highly likely that he made an important proposal to Kim Shin related to the US business.
‘After taking over LK Electronics, I will build a factory in the US and receive financial and tax benefits… … .’
Seon Jae-yong thought that the time he had left as a manager was 10 years at the shortest and 20 years at the longest.
Inheritance tax for major shareholders in Korea reached 60%.
Even when he inherited the opposite sex group, he had to put a lot of irrational numbers in relation to inheritance.
It is true that passing on a group of the opposite sex to the next generation is impossible legally or by public opinion.
‘If I can’t hand over the group to my children, I’ll have to leave it at least.’
Seon Jae-yong took out his cell phone and texted Kim Shin.
―Vice Chairman Seon Jae-yong: CEO Kim Shin, do you have any plans to invest in a factory built by Lee Sung Electronics in the US?