[In Ilsan, Ohsung Electronics’ new smartphone Note 7 caught fire again. Again, it was a battery problem. A woman in her 30s who was using it suffered first-degree burns.]
[Next news. China’s aviation authorities have banned the use of Note 7 in-flight and cargo transportation. In response, Ohsung Electronics stated that only some products were defective, and defective products could be replaced free of charge at a nearby service center.]
[Ohsung Electronics has stopped supplying the Note 7 to the three mobile communication companies. As a result, buyers who did not receive the pre-sale volume are bursting with anger… … .]
On terrestrial news, Ohsung Electronics’ smartphone battery defect news is reported.
Photos of the melted Note 7 were posted on the news, and later, a video was even shown of smoke coming out of the product.
“News about Note 7 defects are pouring in. It wasn’t like this when we went to the Ohsung Electronics store.”
Lee So-yeong, who was watching TV while eating a boxed lunch next to her, murmurs.
As she said, until just last week, the Note 7 battery problem was an issue only circulating on the Internet.
It was obvious why such news was suddenly pouring out as if the floodgates of a dam had been opened.
“The Ohseong side would have controlled the reporting. Then, as related news poured in from abroad, they must have decided that they couldn’t stop it any longer.”
“Control… … It’s too old-fashioned.”
“It can’t be denied that it’s an effective method, even if it’s outdated. If you tie up public opinion with control, and solve the problem quickly in the gap, the majority of consumers will pass by without even knowing what happened.”
However, the problem is that this issue cannot be resolved quickly.
“If the atmosphere of Ohsung Electronics is like that, the acorn coin payment service will stop all for the time being. I prepared hard from the promotion, but it’s really regrettable.”
“Proceed with the offline payment service as planned.”
“Even if we want to proceed, can Ohsung Electronics afford it? The representative also saw the condition of the store.”
In the situation of the store of Ohsung Electronics, there was no such thing.
The AS treatment alone makes people burst into tears, but people who ask for a refund of telecommunication fees, people who ask for compensation for mental damage, and even YouTubers who film and spread the issue have gathered.
That was a week ago, so it must be even more mayhem now that the situation has gotten serious.
“How is the point-linked service going? I heard that the beta version has finished testing.”
“The app is finished until the final review. It’s a situation that can be used at any time… … Are you thinking of connecting to Ohsung Electronics Point?”
“It should be.”
The point service is an app that easily converts third-party points into acorn coins.
If you enter into an alliance with Ohsung Electronics, you can easily convert your Ohsung Electronics membership points into acorn coins.
“There are a lot of people who use Ohsung Electronics products, so if we can bring some of them to us, the effect will be great.”
“Not a lot, but about 20% of smartphone owners worldwide, over 700 million people.”
“Will those people use acorn coins just because they are linked to Ohsung Electronics points?”
“There will be very few people who come out and write first. So, we need to make sure to use it this time.”
The Note 7 battery issue is like a swamp.
There is no fundamental solution, so the more you hold on to try to save yourself, the more you fall into a deeper abyss.
At this time, if the rope of salvation is lowered, even if a somewhat excessive condition is set, you will have no choice but to grab hold of it and come up.
* * *
In the boardroom of Ohsung Electronics, a relay meeting is already in progress for five hours.
The topic of the meeting was Ohsung Electronics’ new smartphone battery issue.
It has already been confirmed that there is a defect on the battery side, but discussions have been going on for several hours over how to respond in the future.
“Products that were previously found to be defective are being recalled quickly. If you speed up as much as possible, you can deal with the issue before it spreads further.”
“It is possible in Korea, but what about overseas shipments? Now, even in Europe, there is talk of banning airplane boarding.”
“We have to wait until the overseas supplies are also recovered. If you appease the victim by giving him a carrot… … .”
“Because of that, even a perfectly fine cell phone was put in a microwave oven, causing more chaos!”
As the situation was growing moment by moment, sharp reactions poured into the conference hall.
In the past, a decision would have been made after some discussion, but Chairman Jeon Moo-hong, who would make the final decision, was absent at Ohsung Group today.
“… … .”
Jeon Yong-taek, who was sitting at the head of the table, was watching the meeting like a borrowed sack of barley.
The fact that Jeon Yong-taek is the successor of Ohsung Group is acknowledged by all executives. Indeed, he had the power to make decisions and push through.
Even so, the reason he sat in the meeting room without saying anything was because of fear.
‘What opinion should I follow? Rather, can I, as a non-professional, make a decision? What if I make a decision and it goes wrong?’
The anguish that dominated his mind always ended with the following thought.
‘If it were my father, what would he have done?’
Jeon Yong-taek still couldn’t get out of the shadow of Chairman Jeon Moo-hong.
It would be even more strange if he did his job without feeling any pressure, since he took the position of the head of the largest company in Korea, not another position.
Still, since he can’t keep his mouth shut forever, Jeon Yong-taek gives his opinion after much thought.
“How about a full refund for defective products?”
Surprisingly, the conference hall became quiet. They all look at him with an expression asking if they thought it was an opinion.
Then, Kim Seung-jo, the president of Ohsung Electronics, gives an answer.
“We have already sold more than 1.5 million units of the Note 7. If all of these products are refunded, a loss of more than 2 trillion won will occur even after excluding logistics and various other expenses.”
The amount of 2 trillion won stops him from speaking. Who would easily accept a loss of 2 trillion won?
When Jeon Yong-taek is unable to speak, the other executives who had been silent start talking again.
“Vice President, the best way is to exchange it for an improved product as soon as possible while appeasing public opinion.”
“you’re right. A full refund would be too much of a loss.”
“Please wait for a while as the speed of recovery of domestic products is increasing. Overseas shipments can also be resolved by providing appropriate incentives.”
It was always like this. Executives rise up like a swarm of bees and ignore whatever opinions he has.
For the reason that I am not an expert, for the reason that the experience is short, for the reason that the timing is not good.
‘Would the reaction have been like this even if my father had expressed his opinion?’
I thought it was ridiculous to even think of such a question.
He could not become Jeon Moo-Hong, nor could he imitate Jeon Moo-Hong’s abilities. I am just sitting here with the fact that I am Jeon Moo-hong’s son.
* * *
The long and lengthy meeting of the management of Ohsung Electronics has come to an end.
There was intense discussion, but no conclusion was reached, and only the amount of incentive payment was slightly adjusted.
Jeon Yong-taek came out of the conference hall almost as green as green onions.
A secretary appears in front of him and informs him of the schedule.
“Vice President, how would you like the meeting scheduled for 5:00?”
Jeon Yong-taek examines his wrist. The clock’s hour hand was already approaching the number 7.
“I want to rest now.”
“All right. Then I will politely return it.”
“wait for a sec. Who was this meeting with?”
“I am Shin Woo-hyuk, CEO of WHTS Company.”
Jeon Yong-taek changes his attitude when he hears the name Shin Woo-hyuk.
“Where is he?”
“I’m waiting for you in the office parlor.”
“i get it. Just tell them I’m coming down.”
Is it because the previous encounter was too intense? The thought of meeting him made tension rise instead of fatigue.
Jeon Yong-taek forgot all the hardships and went down to the drawing room where he was waiting.
“hello. I’m a little late because the meeting was long.”
“I can’t help it because you’re so busy.”
“Thank you for your understanding.”
The two exchange greetings with a handshake and sit down.
“Thanks to CEO Shin’s help, the acquisition of Herman was completed without a hitch. Thank you again.”
“What have I done?”
“If it wasn’t for the Tesla parts contract, I would have been plagued by all sorts of rumors.”
Even after that, the story continues briefly in the field of electric cars. However, the conversation did not last long.
“What else did you come to see me for?”
“The contract we signed last time was not fulfilled.”
“If it’s a contract, are you talking about virtual currency investment?”
“The investment has been well received. What I said is next.”
There were two conditions in exchange for the Tesla parts contract.
The first is to directly invest in virtual currency under the name of Ohsung Group.
Second, add virtual currency to the payment method for Ohsung Electronics products.
“aha. You were talking about cryptocurrency payments. The thing… … As you know, there is an accident on our side and we will need time.”
“If it’s an accident, is it the smartphone battery?”
The other person connects with a smile that cannot guess the meaning.
“That’s why you made the meeting so long. Were the results good?”
“that… … .”
“Oh, this is not something I, an outsider, would ask. Excuse me.”
“no. It was only a meeting that came to the conclusion that we should proceed as planned.”
“If it’s the original draft, is it an exchange?”
From noble mtl dot com
As Jeon Yong-taek slowly nodded, the other party let out a voice of regret.
“Oops, you’re trying to block something with a hoe with a shovel.”
“What does that mean?”
“It is literally. If you were like the vice president, would you use something that might explode? You should keep it in your pocket, in the car, and by your bedside.”
Of course, the answer was ‘no’. However, at present, there was no other way other than exchanging them for improved products.
As if the opponent had looked into Jeon Yong-taek’s thoughts like this, he pointed out that point.
“The Note 7 has already been called a bomb phone. This will not change even if we release an improved product, so the tag will follow us throughout Ohsung’s smartphone business.”
“Then what do you mean?”
“I bet the vice president knows what the best way is.”
Jeon Yong-taek bit his lip. This is because despite knowing a clear solution, the loss of 2 trillion won could not be ignored.
“… … .”
While Jeon Yong-taek is thinking about it, the other person suddenly raises his head.
“If you can’t handle it on your own, I can help.”
“Help me? how… … .”
“We will cover 10% of the amount used for the refund.”
10% of 2 trillion won is a whopping 200 billion won. When he said that he would pay such a large amount of money, Jeon Yong-taek’s eyes widened.
“Conditions… … What is it?”
“When refunding the Note 7, please add incentives only to customers who refunded with Ohsung Electronics points. Even at this time, it should be about 10%.”
“I don’t know what that means.”
“Ohsung Electronics points can be exchanged for acorn coins. You can buy Ohsung Electronics products with acorn coins.”
In the end, doesn’t it mean that you will pay 10% to attract customers with acorn coins?
Under these conditions, there was nothing wrong with it. Incentives had to be given to refund customers anyway, and the more benefits we gave, the more we could prevent them from leaving to other companies.
“great. We will send the staff as soon as possible.”
“Your decision is clear.”
Jeon Yong-taek fears that the other person will change his mind, so he quickly shakes hands and leaves. I wanted to proceed with a full refund as soon as possible and put an end to this situation.
However, there was one fact that Jeon Yong-taek overlooked in this point structure.
If you buy Ohsung Electronics products with refunded points, it is correct that Ohsung Electronics’ sales will return.
Refund -＞ Ohsung Electronics Point -＞ Acorn Coin -＞ Ohsung Electronics Product
But what if the buyer doesn’t spend the money right away and puts it in virtual currency?
Refund -＞ Ohsung Electronics Points -＞ Acorn Coin -＞ Retention
In this case, Ohseong’s refund money was practically the same as WHTS Company’s cheap money.