WeTried Translations
Translator/Editor: LilGuyBlastoise
Discord: https://dsc.gg/wetried
◈ The Economics of an Alchemist ◈
Chapter 29
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Taejin Tech headquarters conference room.
Managing Director Han Dojin, the company president's son and its real power, sat at the head of the table, reading a report with a deep frown.
He tossed the report onto the table. At the bottom of its cover, the words [Korea Chemical Testing and Research Institute] stood out clearly.
“So, the conclusion is...?”
Managing Director Han ground his teeth as he glared at the head of research.
“The base material is cheap TPU, but you have no idea how it can perform so absurdly well? Is that all I get after we spent that much on the commission fee?”
At his roar, the head of research wiped away cold sweat and spoke.
“Based on the data we received from the chemical institute, our in-house lab did run simulations, but...”
“If you ran them, shouldn't you have results?”
“We put the same materials into an injection molding machine and applied heat, but we couldn't reproduce the Aegis Case's nanotube molecular structure. It's absolutely impossible with conventional injection molding. There isn't even a registered patent, so with the finished product alone, there's no way to reverse-engineer its manufacturing process.”
Perhaps feeling wronged, the head of research gradually raised their voice. Then they noticed Managing Director Han's sharpened gaze and abruptly shut their mouth.
“I don't need excuses. The order has come down directly from above.”
At Han's words, the executives around the meeting room reflexively flinched. There was only one company above Taejin Tech.
LC Electronics, the absolute superior power.
“Rumors are circulating that Oh-seong Electronics plans to make the Aegis Case an exclusive preorder gift for its upcoming CosmoS2. If Oh-seong gets hold of that first, LC's smartphone sales will plummet.”
“Th-then... if LC smartphone sales fall, Taejin, as a first-tier vendor, will suffer a chain reaction in revenue!”
“That's why they gave us an order to handle it ourselves! Secure that technology before Oh-seong takes it!”
Managing Director Han slammed the desk. Bang!
“If we can't copy it, we'll use another method. Send Valence a proposal for a ‘strategic partnership and investment.’”
“An investment proposal?”
“Don't we need to get into their factory and see it ourselves?”
A cruel smile spread across his lips.
“Dig in under the pretext of investment due diligence. Tempt them with the backing of a major corporation, through legal means. Find even the slightest clue about what machinery they have installed, or how they make those cases by means other than heat.”
“Then the investment...”
“If we still can't find a way, we can seriously consider it then.”
* * *
Gimpo, Valence's new factory.
Jaeha was touring the new factory with Jang Myeonghwan, a renovated large leased warehouse spanning 320 pyeong.
It was no longer the shoddy old container. A thorough security system was in operation to prevent technology leaks at the source.
High-resolution CCTV throughout the factory, private security guards, and fingerprint scanners that allowed only authorized workers through.
“CEO. The secondary processing equipment we brought in by pouring nearly all our accumulated capital into it is currently running at full capacity without defects.”
Jang Myeonghwan reported while holding an A-pad.
“The packaging line and the staffing for three shifts have also been set up without issue. We currently have over 600,000 units on back order. At our current output, we can fulfill all outstanding orders and secure stable inventory within fifteen days.”
Excitement colored his voice.
“Six hundred thousand... Considering the number of A-phone 4 units in Korea, that's far above our estimate.”
“It isn't only domestic orders. As word about the Aegis Case spread, overseas distributors began eyeing it. Three major wholesalers in Tokyo, Japan, and suitcase traders in Shenzhen, China, are clamoring to pay upfront if we supply them. Including those preorder volumes, the total has gone well beyond 600,000.”
Jaeha gave a slight nod.
A smartphone case was a perfectly standardized global product. There was no need to distinguish domestic and export models based on language or voltage.
After becoming a huge success in Korea, it was only natural for wholesalers in nearby Japan and China to target it.
“We're also getting interest from North America and Europe.”
Jang Myeonghwan showed him the screen of an A-pad 2. It displayed posts from major overseas IT communities.
“We aren't at the stage of receiving immediate preorders like in Asia. Reviews are spreading among overseas users, and word of mouth is beginning to build. Several local distribution vendors have already requested samples for testing.”
“Good. Let's keep clearing the incoming orders and watch how things develop.”
Just one month ago, Valence had been panting away in a cramped container. Now, it had become a real company receiving overtures from global distribution networks.
Watching the production lines run without pause, Jang Myeonghwan continued.
“Demand is so explosive that we should probably hurry to expand our lineup for Android models, like Oh-seong Electronics' Cosmo series.”
“No. Put expansion to other models on hold for now.”
Jaeha drew a firm line.
“We can barely keep up with orders for the A-phone 4 alone. Rather than spreading ourselves too thin, let's focus our efforts. How is supply-chain diversification going?”
“We have meetings scheduled with two alternative vendors besides Yeongshin Polymer.”
“If something happens to our main vendor, we must be able to raise our operating rate immediately through sub-vendors. Build up enough safety stock to last at least two weeks as well.”
“Understood. I'll return with good news soon.”
“Now that we're drawing the market's attention, there will be people who have caught the scent of money. Some may be customers, but others may be unwelcome visitors no better than robbers. Let's make sure our defenses are in place first.”
Jang Myeonghwan nodded heavily, then took something from his briefcase.
“Just as you said, a company has already caught the scent and made a move. This is an official letter from Taejin Tech that arrived this morning.”
“Taejin Tech?”
“Yes. The contents are concerning. They say they highly value the potential of the Aegis Case and want a ‘strategic partnership and equity investment.’ They said that if we allow technical due diligence, they will offer us an industry-leading valuation.”
Expectation and tension showed on Jang Myeonghwan's face at once.
“What should we do? They're a major first-tier vendor affiliated with LC. Wouldn't it be better to at least meet them and hear their terms?”
Jaeha scanned the document, then gave a short laugh.
“We won't meet them. Send a polite rejection.”
“What? Even so, they're coming to us with bags of money. Isn't it a bit much to turn them down flat...?”
“You know how this industry works. Would a mid-sized company like Taejin Tech bow its head and talk about giving us the industry's best terms for one jelly case? Normally, they would quietly churn out a copycat product, then use their distribution network and price cuts to starve us out. But technical due diligence? What do you think that means?”
Jaeha's eyes turned cold.
“They want to worm their way into our factory under the pretext of investment due diligence, to see what equipment we have installed. There's no need to meet them and give them bait. Reject them flatly.”
A few hours later.
Managing Director Han Dojin of Taejin Tech twisted his face at Valence's rejection letter, brought in by his secretary.
“Insolent little... They dare ignore Taejin's proposal?”
The secretary flinched at the venom in his eyes.
“I tried to persuade them nicely, but that won't work. Dig up everything around Valence immediately. Find out who installed the equipment in that factory, which subcontractors supply their raw materials, and whether they have any skeletons in their closet. Look into every last detail.”
* * *
Valence's new factory, CEO's office.
Not long ago, Jaeha's workplace had been a moldy container whose tin roof rattled loudly whenever it rained.
There had been no such thing as a CEO's office. He had used the same desk as the other employees.
Not anymore.
A luxurious carpet that softly swallowed footsteps covered the floor. Through the wall of floor-to-ceiling windows, he could see the factory floor at a glance.
The perfect view that only a true owner could have.
Jaeha no longer sat in a plastic chair with a rattling backrest. He sat in a high-end chair worth several million won, said to be a symbol of Silicon Valley CEOs.
On the sleek, polished desk sat a pair of large monitors. At their center was an ebony nameplate with an imposing presence.
[CEO Kim Jaeha]
The three characters of his name, engraved in gold, glowed softly.
Jaeha was watching a monitor. On the screen, a fairly famous North American IT tech WeTuber was speaking passionately with excited gestures.
“Have you all seen this? The performance of this insane jelly case? I threw it onto the floor from two meters up more than ten times, and the A-phone 4 is completely fine! The Aegis Case from Korea! Everyone! Aliens weren't in Area 51. They were in Korea!”
The video ended with the WeTuber throwing the Outbox Defender, formerly considered the ultimate protective case, into a trash can.
‘WeTube...’
Domestic internet broadcasting centered on real-time live services like America TV. Because their structure depended on instantly interacting with viewers and receiving donations, provocative and disposable content dominated.
The global platform WeTube was different. It centered on high-quality videos created through thorough planning and editing.
Korea was still at the stage of uploading music videos or short comedy clips, but overseas, professional tech WeTubers like that had already built massive fanbases and wielded influence over public opinion in the IT market.
More than anything, unlike live broadcasts that were watched once and forgotten, a video that had been made possessed the frightening reach to transcend borders and time and reach people around the world.
Before long, Korea's era of blogs centered on text and photos would fade, and the age of video reviews would come. That was what Jaeha thought.
‘I should have Mijeong open an official Valence WeTube channel and plan its content. If we're going to use it as a global marketing channel later, we need to lay the groundwork now.’
He was considering the next step and mapping out a new marketing strategy when it happened.
Knock, knock.
“CEO, it's me.”
Jang Myeonghwan had become a director after the company reorganized its ranks.
“Come in.”
Click. The door opened, and his face was clearly excited as he entered.
“What is it?”
“CEO, Oh-seong Electronics just contacted us.”
“Oh-seong Electronics?”
“Yes. They want to meet about a preorder gift for their upcoming CosmoS2. They asked us to come to Oh-seong headquarters by 2 p.m. tomorrow. Shall I clear your schedule?”
It was the characteristic request of a major corporation, summoning someone to its headquarters as if bestowing a favor.
Just receiving contact from Oh-seong was enough to make Jang Myeonghwan's heart race, but Jaeha's reaction was indifferent.
“We're not going.”
“What? This is Oh-seong Electronics. No matter how busy we are, this meeting...”
“They are the ones who want something, not us. We have plenty of actual work to do.”
Jaeha spun a pen and gave the instruction calmly.
“Reply to Oh-seong. Tell them we're too busy to go, so if they truly want to talk, they can come down to Gimpo tomorrow. If they agree, reserve a business meeting room at the Gimpo Marina Hotel.”
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