The subprime mortgage dish was nearly cooked.
Now it just needed to simmer, and while it did, I had other matters to take care of—starting with a visit to Apple's headquarters in California.
"Kim! I heard you were in the States some time ago. What took you so long to come by?"
"I had prior engagements I needed to take care of. Have you been well?"
"I've been doing better than ever."
Steve looked noticeably thinner.
Even at a glance, he didn't look like he was in good shape—but who could stop a man consumed by work?
"Glad to hear you're doing well. Still, you really should take it easy sometimes."
"I can rest forever when I'm dead. No point resting now. But let's put that aside—I want to take you somewhere. Hope you have a bit of time."
"If Steve Jobs is asking, of course I do."
I got into the car with him.
We didn't drive far from Apple's current headquarters.
We arrived at what looked like little more than a barren plot of land—nothing worth sightseeing, nothing of note.
"Do you see it, Mr. Kim?"
"See what, exactly?"
"This is going to be Apple's new home. Not just a new HQ—we're talking about a space completely reimagined for Apple: a technology development center, parks, an auditorium, cafés. A place built entirely around Apple's vision."
So this was about Apple Park.
Considering how unimpressive Apple's current headquarters were, a new one was long overdue.
Just like how my grandfather had a particular obsession with building a new headquarters for
Taewoo Group, Steve felt the same way about his company.
"You're right. The current office doesn't really live up to Apple's reputation."
"I've already mapped out the entire plan. The land acquisition is nearly complete, and I've already lined up the architect. All that's left is choosing a construction company—once that's
done, we can start building immediately."
"The land alone looks like it's over 100,000 pyeong. There aren't many firms that could pull off a project like this."
"That's why I want to commission Taewoo Construction… So—are you interested?"
I didn't expect him to make such an offer.
From my perspective, it was an incredibly welcome proposal.
Who could refuse when someone's practically handing you the opportunity on a silver platter?
The construction project alone looked to be worth a minimum of $5 billion—a massive deal, even for Taewoo Construction.
"Of course I'm interested. But I admit, I'm already a bit worried. If we're going to meet the
standards of someone as meticulous as you, Steve, Taewoo Construction's going to have its hands full."
"I want the building to be shaped like a donut—like a UFO. And I want it outfitted with solar panels throughout so it can be 100% energy self-sufficient, without needing any external power supply."
"That kind of project is only possible for top-tier firms like Taewoo Construction. Not to brag, but Taewoo has been the number one contractor in Korea and is recognized globally among elite builders."
That wasn't an exaggeration.
Taewoo had already led multiple large-scale projects.
They even had the technological capabilities to build nuclear power plants.
"Isn't it funny? According to the media, Apple's supposedly hoarding all the money in the world… but a large portion of that money ends up flowing straight to Taewoo Group."
"I suppose it's a result of mutual growth, wouldn't you say?"
"Oh, I'm not criticizing. I just think the world, and especially the media, is seriously underestimating Taewoo Group."
Steve was right. The world still didn't fully understand what Taewoo Group had become.
But once the subprime mortgage crisis reached its end, Taewoo's true presence would be undeniable.
"We can't just keep taking Apple's money, can we? That's why I wanted to propose something in return."
"If it's a proposal from Kim, of course I'll hear it out. So far, not a single business you've proposed has failed. In fact, they've all turned into massive successes."
I glanced behind us for a moment.
Dozens of vehicles were lined up behind the car Steve and I had arrived in.
They were our security detail, and I walked toward the one designated for my personal security.
"Looks like they're using Taewoo Motors vehicles to escort me."
"You see them all over the U.S. these days. And it feels like that number's been increasing every year."
Taewoo Motors was seeing a steep rise in U.S. market share.
In recent consumer preference surveys, Taewoo-Kia Motors had even broken into the top 10.
"Still, we've got a long way to go. Right now, we're still mostly seen as a 'cheap car brand.'
Unless we shatter that image completely, we'll never move to the next level."
"Well, the company is younger than most of the others, and it entered the U.S. market relatively late. It's not surprising."
"That's why I'd like to borrow Apple's strength—for a full brand transformation. How about we build a car together—with Taewoo-Kia Motors?"
This was the real reason I'd come all the way to California to see Steve.
A collaboration between Taewoo-Kia Motors and Apple.
Up to now, we had partnered with Apple on numerous projects—but those collaborations had
been limited to consumer electronics.
Now, it was time to move beyond those boundaries. In fact, everything we'd done with Apple so far had been in preparation for this very moment.
"You're saying… we should build a car together?"
"Haha, Apple makes smartphones and laptops, my friend. We've got nothing to do with the
automotive industry."
"Do industrial boundaries even matter anymore? These days, people browse the internet on their TVs and do their banking through their phones. Why should cars be any different?"
"So what exactly are you proposing?"
"We create a new brand: Apple-Taewoo Motors."
The Apple Car.
Even in my previous life, it had been a project that came up repeatedly.
But not once had it ever taken off properly.
The reason? Apple's excessive demands.
They had wanted to leverage the complete technology and infrastructure of a finished car
manufacturer—for free.
Naturally, no automaker was willing to accept those terms, and so the project never got off the ground.
But this time, things were different.
I was Apple's largest shareholder.
And I had formed a solid bond with Steve, Apple's iconic leader.
"So, to put it simply… you want to build the Apple Car."
"Exactly. And not just any car—an electric car. Doesn't that perfectly match Apple's image as a trailblazer?"
"An Apple Car that's electric… If it's doable, it would be fantastic. But Apple can't risk putting its name on a half-baked product. As far as I know, EV technology still lags far behind combustion engines."
Steve was a known car enthusiast.
It was said that he bought a new car every six months.
Not because he loved cars, but because he hated putting license plates on them.
By buying a new car every six months, he could legally drive around with temporary tags—never needing to go through the hassle of registering a plate.
So… maybe "car enthusiast" wasn't quite the right label after all?
In any case, Steve had a solid amount of knowledge when it came to cars.
"I have no intention of releasing an unfinished EV," I said. "Electric vehicle technology has
advanced far more than you might think. It's nearly on par with combustion engines now—in
many areas, it even surpasses them."
"That's some serious confidence."
"It's the same kind of confidence we had when we first developed the iPhone."
The iPhone—Apple's resurrection.
In this life, it had been a device born from the collaboration between Steve and me.
At the mention of the iPhone, Steve's expression turned serious.
"I can't allocate too much of our budget to development," he said. "Didn't you warn me that a global financial crisis is just around the corner?"
"There's no need for a huge upfront investment just yet. All I'm asking is for Apple to develop the UI and operating system that can be used in the car. If necessary, Taewoo Group is fully prepared to fund the development."
I didn't care about the cost.
If I could get the Apple logo on a Taewoo car, it would instantly elevate the brand's image by
several tiers.
That alone made it worth covering the development costs ourselves.
But Steve shook his head firmly.
"That's not happening. I still remember how much equity Apple had to give up because Taewoo funded the iPhone development. I won't make that same mistake again. Apple will cover the full cost of software development."
"What a shame," I said with a grin. "Because I can guarantee you—software will bring in far
more profit than actual car sales."
The same had been true for the iPhone.
Revenue from selling the phone itself was massive, of course—but Apple's real goldmine came from software, like the App Store.
"Still, this is different from smartphones. I doubt the software revenue from cars will be
anywhere near as high."
"That's why we're planning a subscription-based model. Users will pay a monthly fee to access all premium software features. Of course, basic software functions will still be free."
"A subscription model… for cars?" Steve chuckled. "That would be a completely new business model."
"Eventually, subscription services will be applied to every industry. We're just getting ahead of the curve."
In fact, many industries were already embracing subscription models.
Video games were a prime example—you had to pay a monthly fee to access a library of games.
Music streaming platforms and OTT services had long since adopted the same system.
"That's a truly revolutionary idea. Alright, let's move forward with the collaboration between
Apple and Taewoo Group on this car project. But I'll only approve its release if the EV meets my standards."
"Of course. And I'll make significant concessions on the design side as well. We'll follow your direction for both the exterior and interior design."
"Well, now I've got even more work on my plate," Steve said with a chuckle. "I'll assign Apple's top designers to the Apple Car project."
We continued our discussion on the Apple Car for quite a while.
Although we didn't delve into the specifics of equity shares, we reached a verbal agreement:
Taewoo Group would receive the profits from car sales, and Apple would retain the profits from the software.
After wrapping up my discussions with Apple, I headed straight to Amazon.
I had already been working closely with Amazon on various joint ventures, and today's agenda was about factory automation systems and robotics.
"Vice Chairman! You were absolutely right—this real estate market is completely insane these days. It really feels like an economic crisis is just around the corner," Jeffrey said as he greeted me.
"Sounds like Amazon's feeling the pressure too," I replied.
"We've got fulfillment centers all over the U.S., so we're feeling the effects of the real estate
fluctuations in real time."
Jeffrey Bezos, famous for being a cold and calculating CEO, often showed a different side when speaking to me—more candid, even vulnerable.
After all, SAVE Investment Company had fully backed Amazon in its early days, and I personally held a significant portion of its shares. That bond created a level of comfort and openness between us.
"Don't worry too much about the real estate issue. I'll keep you updated with real-time data," I assured him. "Let's focus on the automation project. How's that progressing?"
"Funny you ask—I've been eager to show you something," he said, his face brimming with
confidence. "We've completed an automation system that's going to revolutionize the industry!"
Following him to one of the factories, I soon witnessed the spectacular sight he had promised.