There were several ways to increase Taewoo Telecom's market share.
The exclusive launch of Apple phones wouldn't have an imdiate impact.
After all, the only Apple phone available at the mont was the InoPhone 2.
If the iPhone were officially released, it would make a significant difference, but there was still ti before that happened.
"What's the current market share distribution among telecom companies?"
"KS Telecom holds 42%, Korea Telecom has 18%, and if we combine CL Telecom and Shinsae Telecom, we have about 27%."
Taewoo Telecom had quickly risen to second place in the industry.
However, the gap with the number one competitor was still a significant 15%.
Bridging this gap would require more than just aggressive marketing—it called for another rger and acquisition.
"Since we've rged the third and fourth-ranked companies, we just need to absorb the fifth as well."
"Are you considering Hansung PCS?"
"What's Hansung's market share?"
"13%. If we manage to acquire Hansung, our share will jump to 40%."
From what I recalled, Korea Telecom was the one that eventually acquired Hansung PCS.
That acquisition had solidified Korea Telecom's position as the industry's second-largest player.
"Let's go after Hansung too. In a small country like South Korea, four telecom companies are excessive. Three seems like the perfect balance."
"Hansung won't give in easily. As you know, it's a subsidiary of Samjin Group. They'd rather seek help from Samjin than sell to us."
I was well aware of Hansung's situation.
Because Wall Street was involved.
"If they won't sell, we'll take it from them. Hansung PCS has issued a large amount of corporate bonds, particularly convertible bonds, which they sold to investors in Wall Street and Canada."
"I wasn't aware of that."
"If those bonds are converted into stocks, Canadian companies will hold 23%, Wall Street will have 15%, and Hansung itself will be left with only 16%."
"They issued that many bonds?"
"As long as they repay their debts, nothing will happen. But the maturity date is coming up soon. I doubt Hansung has the ans to pay it back."
Even Samjin Group was struggling financially.
So it was even more doubtful that its subsidiary, Hansung PCS, had the liquidity to cover its debts.
"If we take over the Canadian and Wall Street-held bonds, we'll control 38% of Hansung, making us the majority shareholder. Hansung will then have no choice but to sell its 16% stake to us."
"That makes sense, but securing those convertible bonds from Canada and Wall Street is the key."
"I can handle Wall Street. The issue is how to get the Canadian company's bonds."
The Canadian telecom company Bell Canada held ₩100 billion worth of convertible bonds.
With around ₩160 billion, I could acquire both Bell Canada's and Wall Street's bonds—it wasn't an overwhelming sum.
Wall Street was easy—I could use my connections.
That ant I just had to convince Bell Canada to sell us their convertible bonds, and Hansung PCS would be ours.
"We need to send soone to approach Bell Canada."
"Taewoo Telecom can handle that."
"No, don't. This kind of work requires a professional lobbyist to ensure results. I'll contact soone I trust."
After dismissing the Taewoo Telecom president from my office,
I once again picked up the phone and called David.
[Boss! I was just about to call you. I've arranged a eting with Secretary George Shultz.]
"You've been working hard. When's the eting?"
[I've scheduled the eting for early next month.]
"Then we still have so ti. In the anti, take a trip to Canada."
[Canada? Do you an Toronto? Or the capital, Ottawa? Where should I go?]
"Head to Montreal. There, you'll et with Bell Canada and negotiate the purchase of Hansung PCS's corporate bonds."
David paused for a mont.
Then, realizing sothing, his voice beca noticeably excited.
[If it's Bell Canada, I have connections. It was originally owned by an Arican telecom company before becoming independent. They still maintain close ties, so securing a deal shouldn't be too difficult.]
"I didn't know Bell Canada was originally an Arican company."
Things were unfolding more smoothly than expected.
So Bell Canada had once been under Arican ownership.
Even if they were independent now, so influence likely remained.
And with even the slightest opening, David's skills would be enough to get the deal through.
[How much are Hansung PC's convertible bonds worth?]
"A little under $100 million. You can offer a premium if necessary, but secure them quickly."
[If it's around $100 million, lobbying expenses won't be too high. Sounds like a perfect side project.]
"Oh, and Wall Street investnt firms also hold so of Hansung PCS's bonds."
[If it's Wall Street, that's even easier. Can I use your na for leverage?]
"Of course, as much as you need."
[Then I'll purchase the Wall Street bonds today and wrap up the Bell Canada deal within the next week.]
David was brimming with confidence.
And for good reason—when it ca to North Arica, there was hardly a better-connected lobbyist than him.
***
One week later
David called again.
[I've secured all the convertible bonds from both Wall Street and Bell Canada.]
"Already? You said it would take at least two weeks."
[Things went smoother than expected. Turns out, the cousin of soone I'm close with is an executive at Bell Canada.]
David had managed to shave an entire week off the tiline.
So I decided to reward him for his efforts.
"I'll make sure you get a hefty bonus. Director Han will take care of it."
[Bonuses are always welco. Let know whenever you need sothing else—especially if it's in North Arica.]
Now that the groundwork was done, it was ti for the final report.
I walked into the chairman's office with the CEO of Taewoo Telecom.
My grandfather let out a deep sigh as soon as he saw us.
"What trouble have you caused this ti?"
"The kind of trouble you're going to love. We're acquiring Hansung PCS. The groundwork is done—we just need to make the announcent."
"How much did you spend?"
"We spent less than 200 billion won."
"You say 200 billion as if it's a neighborhood puppy's na. You make it sound way too easy."
Although my grandfather's words seed like a rebuke, he was smiling.
200 billion won was undoubtedly a huge sum, but given Hansung PCS's value, he knew it was a worthwhile investnt.
"I'm confident we can extract more than 200 billion won from this deal."
"So, what exactly do you plan to do after spending that much?"
"We've secured the convertible bonds issued by Hansung PCS. Once converted to shares, they will amount to a 38% stake. Hansung itself holds 16%."
"So we'll beco the largest shareholder."
"Once we acquire Hansung PCS, we'll be able to close the market share gap with KS Telecom to within 5%."
"So 7, 8, and 9 will all belong to Taewoo Telecom. Ha-ha-ha."
Hansung PCS's designated mobile number was 018.
With the acquisition, numbers starting with 7, 8, and 9 would all fall under Taewoo Telecom's control.
Now, the only hurdle left was negotiations with the governnt.
If my grandfather, the chairman of the Federation of Korean Industries, stepped in, it would be an easy matter to resolve.
"We need governnt approval to proceed with the acquisition of Hansung PCS."
"Director Kim worked hard to secure the shares, so the chairman should at least take care of that. I was planning to visit the Blue House next week anyway, so I'll take care of it."
My grandfather was even an economic advisor to the Blue House.
This often put him at odds with the president's economic advisory team.
However, unlike in my previous life, my grandfather now ran a major conglorate with zero debt—giving him the leverage to overpower the governnt's economic aides.
Before my regression, things had been different.
The economic advisors had forced him out of influence.
But this ti, that didn't happen, and as a result, my grandfather had risen to beco the governnt's most trusted businessman.
"I'm a bit concerned that the Federation of Korean Industries might complain."
"So people are grumbling that Taewoo Group is acquiring too many companies. But I just let those words go in one ear and out the other. So don't worry."
My grandfather didn't even flinch.
If there was anyone in Korea who embodied true grit, it was him.
"President Lee, your shoulders must feel quite heavy. If you want to win the battle for market dominance, you need to take care of your health. I'll have so herbal dicine prepared for you—make sure to drink it and keep up your strength."
"I will make Taewoo Telecom the number one company in the industry—without fail."
I wanted to make Taewoo Group number one in every industry.
Automobiles, electronics, construction, and telecommunications.
So sectors were already on the verge of reaching the top, and for the rest, I had plans to achieve first place within a few years.
Being number one.
More than the ranking itself, the image of being the best was what truly mattered.
Once a company established itself as the industry leader, any new venture it entered would grow exponentially.
Hansung PCS's convertible bonds were successfully converted into common stock.
The process happened so swiftly that Hansung couldn't even mount a proper response.
In an instant, Taewoo Group beca Hansung PCS's largest shareholder, securing managent control.
From that point on, everything proceeded according to plan.
Hansung ended up selling its remaining stake to us, with a slight premium for managent rights.
With the governnt's tacit approval, we were able to bring the 016 number under Taewoo Telecom's umbrella.
With Taewoo Telecom's growth foundation firmly in place, I finally had the breathing room to shift my focus elsewhere.
And the next industry I set my sights on was IT.
Our U.S. IT ventures were progressing through SAVE Investnt, but our dostic IT operations were still underdeveloped.
With that in mind, I called Woo Sung-il, the president of Taewoo Electronics, to the planning office.
"How's the IT division doing these days?"
"Our music streaming service is seeing a significant increase in subscribers every month, and we've just completed the developnt of our ho trading system in collaboration with Taewoo Securities."
"Sounds like most of our ongoing projects are wrapping up. That ans it's ti to start sothing new."
"Do you have a specific project in mind?"
"The governnt is rolling out policies to foster the IT industry, so we should take part as well. In particular, I'm thinking of investing in the gaming industry."
At the ntion of gaming, Woo Sung-il's eyes widened in shock.
At this point in ti, gas were still widely considered nothing more than children's toys.
"Do you believe there's no money in gaming?"
"Well… Japanese electronics companies have ventured into the console market, but it's quite different from IT."
"Soon, the internet will give rise to a flood of online gas. That ans gaming will beco an integral part of the IT industry."
"Then… are you planning for Taewoo Group to develop gas directly?"
"No, Taewoo Group isn't in the business of creating gas. Creative industries require creative minds. If we want to do it properly, we need to leave ga developnt to the experts."
"If not developnt, then what kind of business are you thinking of?"
"Ga distribution."
A completely new kind of ga distribution business.
I envisioned a platform where players could purchase and enjoy a variety of gas through a single client—a system unlike anything the industry had seen before.
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