Steve was like a god in the IT industry.
Especially after the iPhone became a huge success, more people began to praise him, and CEO
Im Jaebeom was no different.
"Do you really think I resemble Steve?"
"You seem doubtful. Then I'll make you believe it."
I took out my phone and called Steve.
Calling without an appointment was rude, but between Steve and me, it was entirely possible.
[What's the matter at this hour? If you're calling because of the TV, I'm already handling it, so
don't worry too much.]
"Of course, I'm not worried at all. I just wanted to let you know that I might be visiting the U.S. soon."
[I'll clear my schedule for the entire day.]
"Would it be alright if I brought a Korean friend along? I think he'd get along well with you."
[If he's your friend, he's always welcome. If he's next to you, let me speak to him.]
I handed the phone to CEO Im Jaebeom.
Though they only exchanged a few greetings, Im Jaebeom was so overwhelmed that his eyes welled up with tears.
"As I told Steve, let's visit Apple's headquarters together the next time we go to the U.S."
"Would that really be possible? Could I really meet Steve in person?"
"Before that, I'd like to hear your answer to the proposal I made."
"I'll join without question... But would it be possible to retain my employees as well? They
followed me, trusting in my leadership."
"That's exactly what I'd like to ask. I promise the highest salary in the industry."
"Then I'll sign the contract right away!"
He quickly pulled out the prepared contract.
Despite his excitement, as the head of a company, Im Jaebeom carefully reviewed the contract.
Once he confirmed there were no issues, he signed it.
"Now that you've signed the contract, I'll tell you what project we'll be working on."
"Is it about developing programs for the iPhone?"
"Not just the iPhone—apps for all smartphones. Have you ever heard of messenger apps?"
"Are you talking about sites that offer chat services?"
"Similar to Microsoft's MSN, but we're aiming to create a completely different kind of messenger app."
It was still a time when even PC messengers hadn't been fully developed.
Microsoft had launched MSN in 1999, but it wasn't particularly popular in Korea.
KS Telecom was preparing to develop PC messengers, followed by various other types of
messenger programs.
This was the perfect time.
We were planning to monopolize the market by developing both PC and smartphone messenger apps simultaneously.
"MSN Messenger only works on PCs. I know because I use it myself."
"We're going to create a messenger program that works on both PCs and smartphones
simultaneously. It's an untapped market, but once smartphones become widespread, it will be massive."
"I actually have a few ideas of my own. I've been noting down the shortcomings I experienced while using MSN Messenger."
As expected, CEO Im Jaebeom had a deep interest in messengers.
That's how he must have come up with an app like KokoaTalk.
"Then you can start right away. Let's combine your ideas and mine to create a messenger app. Oh, by the way, where is your current office?"
"I'm renting a small office in Gangbuk."
"Gangbuk is a bit far. I'll provide you with the entire building next to Taewoo IT as your office."
"The entire building? I only have five employees."
"You'll grow significantly in the future, so it's better to secure a large office in advance. Plus,
about 50 employees from Taewoo IT will be dispatched. They need space too, don't they?"
CEO Im Jaebeom was startled.
Did I overwhelm him with money?
Well, for a vice chairman of a large corporation, this level of scale was only natural.
I had lunch with CEO Im Jaebeom and hurried back to the company.
There was one more person I needed to meet to dominate the smartphone app market.
"Nice to meet you. I'm Seomoon Young, CEO of Haduri."
The next guest was Seomoon Young, the CEO of Haduri, Korea's first video chat service.
Launched in 1999, Haduri was now a massively popular service.
However, with the release of Cyworld, its popularity was about to plummet, exacerbated by poor management, ultimately leading to public rejection.
"I apologize for contacting you so suddenly."
"Honestly, it was a little uncomfortable."
Seomoon Young's shoulders were raised with confidence.
With Haduri showing tremendous growth every year, it was only natural for him to be full of
confidence.
However, despite his confidence, his face was filled with worry.
Haduri was already facing multiple issues due to poor management, and legal problems were
beginning to surface.
"I'll offer you a proposal worth the inconvenience. Taewoo Group will fully support all the issues you're facing—legal problems, management issues, everything."
"You don't intend to acquire Haduri in return, do you?"
"Not at all. I'm not interested in acquiring Haduri or even holding any shares. I'm simply proposing a joint venture to create a new program together."
Haduri was on the path to ruin.
But I had my own reasons for being interested in the service.
With the rise of the SNS era, platforms based on short videos would gain massive popularity.
TikTok, Shorts—short-form video SNS platforms.
Haduri was already offering those services long before they became globally popular.
Perhaps Haduri was too ahead of its time.
Or maybe it failed to adapt to the flow of the era.
Because the service was only available on PCs, its growth was limited, eventually leading to its downfall.
But what if we partnered and pioneered the short-form SNS market together?
It was clear we could divide the SNS market with Facebook.
"I appreciate your offer, but I barely have enough time to focus on Haduri right now. Problems
are arising everywhere, and I can't afford to direct my attention elsewhere."
"May I speak frankly?"
"Of course."
"Haduri is already a service whose lifespan has effectively ended. Its reputation has deteriorated to the point where recovery is impossible."
Seomoon Young's face twisted in an instant.
How could he endure hearing his own creation being insulted?
"That's quite harsh. We've surpassed 5 million users, and we're expecting 10 million next year
and 20 million the year after that. I can't accept that recovery is impossible."
"I think so too. But is simply increasing the number of users the solution? In the U.S. and Europe, Haduri is already recognized as a platform for creating obscene videos."
"...We're doing our best to prevent that issue."
Haduri's greatest strength was its easy accessibility.
But that was also its biggest weakness.
Because anyone could easily create and distribute videos, obscene content was being spread recklessly.
"Once an image is tarnished, it takes several times the effort to restore it. And even if the image is restored, another issue remains. Right now, Haduri is popular because webcams are simpler to use compared to digital cameras—but what happens when phone cameras improve?"
"This is unpleasant to hear. Did you call me here just to insult me?"
Though he was angry, Seomoon Young remained seated.
If what I was saying were nonsense, he would have stood up already.
But every word I said was addressing problems he was already aware of.
"I'm proposing that you partner with Taewoo Group and completely reinvent yourself."
"Do you have any idea how much effort I've poured into bringing Haduri to where it is now? I've sacrificed money, time, and manpower."
"Of course I know. That's why we're offering sufficient compensation—along with the initial
funding and manpower from Taewoo Group."
Despite having more than 5 million users, Haduri wasn't generating significant profits due to its lack of a solid revenue model.
But the moment Taewoo Group partnered with them, we could build various revenue streams, including advertisements.
"...Are you asking me to shut down Haduri immediately?"
"Not at all. You can continue operating Haduri for as long as you'd like. Taewoo Group is willing to provide financial and manpower support. All we ask is that you prepare a new service alongside it."
"Give me some time. This isn't a decision I can make right away."
In the past, I might have given him time.
But after losing Cyworld to KS Telecom, I couldn't afford to take that risk again.
If I sent him back now, KS Telecom would surely show up with a contract in hand.
"50 billion won as a signing bonus. Plus, we'll guarantee the continued employment of all your staff. Additionally, you'll receive 20% equity in the new joint venture. This isn't a takeover—it's compensation for simply starting a project together."
"I still don't understand why you're making this offer. If you were trying to acquire Haduri, I
would at least understand... but you're not."
The same old repertoire came out.
That's why offering overly generous terms only breeds unnecessary suspicion.
"This offer is only valid if you sign the contract right now. You can call your lawyer here or
consult with anyone you trust. Take all the time you need—as long as you don't leave the Taewoo Group headquarters building."
"You're being quite harsh. Then I'll call in a few company executives to discuss."
I provided a meeting room for Seomoon Young.
He summoned several company employees and even a lawyer. After more than three hours of reviewing the proposal, he finally returned to me.
"My lawyer says there's absolutely nothing disadvantageous to me or my company in this offer. He even said I could take the money and refuse to cooperate without any consequences—it's that unfavorable to Taewoo Electronics."
"So, is that what you're planning to do?"
"I can't do that—because of my employees. They all agree Haduri's lifespan won't last more than five years at best. But if we join forces with Taewoo Electronics, it won't be five years—they'll have lifelong job security... I have to think of my employees, so I've decided to accept your offer."
That's why leaders always have so much to worry about.
A family head worries about their dependents, and a company CEO worries about their
employees.
Of course, not every CEO did—but Seomoon Young genuinely cared for his staff.
"Shall we sign the contract then?"
"I'll stamp it first."
Seomoon Young pressed his seal onto the contract.
With that, I had secured another new SNS service.