Chairman Lee and the Leap of the Defense Sector
"Miso, you won't need to worry about anything other than the UAM (Urban Air Mobility) business."
"That's right! You just need to focus on Yongjae. What a relief! I'm so glad my youngest daughter, who I'm most attached to, has found someone of her own."
Chairman Lee Hyundo welcomed Taesik as Miso's partner and expressed his wish that Taesik would completely sever any ties with the Misung Group.
"Misung SDI is unavoidable, but I want to ensure Miso has no contact with the other subsidiaries. I don't want her getting tangled up with her siblings for no reason. Can you handle that, CEO Kim?"
"Understood. I will see to it."
Chairman Lee Hyundo spoke about their future, discussing minor details in a way that didn't seem like a conglomerate chairman at all, and the two listened intently with smiles on their faces.
A few weeks later, after having dinner at his home, Chairman Lee Hyundo suddenly clutched his chest and collapsed. Miso rushed to the university hospital room where he had been admitted.
"Dad!"
As she hurriedly opened the door and entered, Chairman Lee Hyundo, lying in bed, welcomed her.
"It's not a terminal illness, so why did you come? And CEO Kim...?"
Taesik, who had been standing behind Miso, approached the chairman.
"Chairman, are you alright?"
"Why did a busy man like you come? The doctor said it's not my time to go yet. Don't worry!"
Miso checked on what had happened by the chairman's side and heard that he had suffered a sudden heart attack during dinner, but fortunately, he had regained consciousness thanks to the help of the medical staff stationed at his home.
"Dad! When can you get out of bed?"
"The doctors are telling me not to be discharged because there's an issue with my heart. I'll have to stay for a while."
While the three were talking, Executive Director Lee Yongjae and Miso's two older sisters entered the room.
"CEO Kim, you're here?"
Executive Director Lee Yongjae introduced Taesik to the sisters. After glancing at him, they turned to Miso.
"Is this person going to work at Misung, too?"
At their cynical question, Miso bristled.
"Taesik has nothing to do with the Misung Group. You two should just worry about yourselves!"
As the atmosphere turned cold, Chairman Lee Hyundo waved his hand to shoo everyone out, and Executive Director Lee Yongjae called Taesik aside.
"CEO Kim. You haven't forgotten the promise we made last time, have you? The promise that you would stand on my side once the succession takes place."
"Of course. But the Chairman is still going strong—does that promise hold any meaning right now?"
"No. My father has ordered the start of the succession process. It will begin in earnest soon, and a storm is coming. And please, take good care of our Miso!"
"You speak as if you're going somewhere."
"I'll likely go to prison once this is all handled. If I can inherit the Misung Group for the price of one prison stint, it's a profitable deal!"
Executive Director Lee Yongjae did not provide details, but he made it clear that something was in motion under Chairman Lee Hyundo's direction.
Some time later, Executive Director Lee Yongjae was promoted to Vice Chairman, and news that Misung Corporation and Neverland had merged graced the headlines. The news of the Misung Group's merger was buried under articles regarding allegations about the daughter of the Yeongse-gyo cult leader behind the President, and Chairman Lee Yongjae began the succession process for the Misung Group according to the scenario drawn up by the group.
Taesik, worried as he watched Miso engrossed in the UAM business lately, spoke to her as she brought him coffee.
"Miso, are you alright? You seem too focused on work these days. Is it because of the Misung Group?"
"No. There is some noise between my brother and sisters, but... it has nothing to do with me."
"If you ever want to work at the Misung Group, I can give you my support."
"No. I really hate it there. I just like working with you, Taesik."
"Let me know if you ever need help. And let's go on a date tonight."
"Ho ho ho. I guess I should frown more often. It's not bad that you're taking the initiative to ask me out."
Relieved by Miso's brighter attitude, Taesik decided to visit Starlink Aviation to check on the progress of the UAM prototype, the Loyal Wingman, and the development of next-generation aircraft.
On the way down to Sacheon, Miso, perhaps because it was a rare outing, looked around and seemed happy. Taesik chatted with her until they arrived.
President Jo Yoon-je guided Taesik to the conference room, looking at Miso and Taesik with a satisfied smile.
"I heard you two were dating, but you look incredibly good together."
Miso responded with a laugh and complimented President Jo, and Taesik brought up the main topic.
"How is the progress on the Loyal Wingman and the next-generation aircraft?"
"CEO, before the report, I'd like to mention that our T-50 aircraft is scheduled to be exported to Thailand, following the Philippines."
"Ah! That's welcome news. What is the volume?"
"We are currently negotiating, but it looks like it will be around 14 units."
"It's still a market focused on Southeast Asia."
"Most of them are countries that turned to the T-50 after hoping to purchase the F-16. Still, we've reinforced the armament capabilities significantly, so export volume is increasing. And exports in the civilian sector are also rising."
"How is the Valkyrie project we developed earlier progressing?"
"We sounded out the Defense Acquisition Program Administration for export possibilities, but their opinion is that it's a 'black' project and therefore impossible to export. It seems difficult to export unless it's to South Korea's allies."
"I'll have to negotiate that myself. Honestly, the Valkyrie isn't classified to the point of being a black project..."
"I should have resolved this, and I apologize. The Loyal Wingman has finished environmental testing, and I expect the first flight to be possible by next month. The Air Force has issued requirements for it to be operated on F-16, TA-50, and FA-50 aircraft, so we are also scheduled to win the F-16 performance improvement project."
"So the F-16 performance improvement project is finally moving forward."
In the meantime, Starlink Aviation had been working to mount the AESA Radar, which had been installed on the TA-50, onto the F-16, and the Air Force had expressed its opinion that it wanted to proceed with the project in one go, along with the performance improvements.
"Yes. Thanks to that, Starlink Aviation's revenue is expected to exceed 3 trillion won."
"How far has the UAM prototype progressed?"
At the mention of UAM, Miso showed interest and pulled her chair forward.
"The prototype itself could be manufactured with existing technology, so there are no major issues. We conducted ground tests with the axial flux motor sent by Misung SDI and the motor research lab, but the performance isn't coming out as expected."
President Jo Yoon-je handed over the organized specifications for the UAM prototype.
"The flight time is only 30 minutes, and it can only carry 5 people. And there's the issue of airworthiness certification; I'm doubtful if it's possible domestically."
When President Jo brought up the issue of airworthiness certification, which verifies flight safety, Miso stepped in.
"Is it because of the Korea Institute of Aviation Safety Technology, which is in charge of airworthiness certification?"
"It's more that there are no regulations or policies in the country. We need airspace for UAM operations, air traffic control systems, and transportation infrastructure for takeoff and landing, but the domestic situation isn't supporting it."
Miso asked a question as if she already knew the facts.
"Are you suggesting we move the business to the U.S., President Jo?"
"Yes. Starlink Aviation can submit the technical data required for airworthiness certification, but considering test flights and overall circumstances, moving to the U.S. is necessary."
"What if we develop all the airspace and transportation infrastructure ourselves?"
"Even then, domestic regulations won't support it. Even if we receive airworthiness certification that UAM is safe, we need usage permits for commercialization, and there's no movement from the government yet."
At President Jo's words, Miso brought out the materials she had prepared. The plan was to conduct the first flight in Korea, proceed with airworthiness certification in both Korea and the U.S. simultaneously, and carry out the first commercialization in the U.S. Furthermore, considering the Korean market, she had designated Incheon Airport, Gimpo Airport, and the Han River as UAM transport hubs, planning for travel between the airports and downtown Seoul.
"As you can see from the materials, the first phase is to have a pilot on board and pass the domestic and U.S. airworthiness certification standards. At the same time, we plan to secure vertiport sites for UAM operations and proceed with commercialization via the Han River."
President Jo, seeing Miso explain more detailed materials than he had, was surprised.
"Ah! I hadn't reviewed up to this point."
Miso laughed once.
"I intend to resolve the relevant regulations through lobbying the National Assembly, and once the company for UAM is established, I want to commercialize the line connecting Gimpo Airport and Yeouido immediately. It's possible to reach Jamsil in 30 minutes, but there's a high probability that the government won't grant permission for safety reasons, so we need to increase the flight time to at least one hour."
President Jo looked at Taesik, surprised by Miso's words.
"CEO, you were right to entrust the UAM business to Miso. What will you do about the U.S.? The government will likely approve the UAM business while gauging the atmosphere in the U.S."
"That's not a problem because other companies are also pursuing UAM businesses. And unlike South Korea, I've confirmed that there are no constraints in the U.S., as you can commercialize anytime if you own a private runway."
"Then my job is to develop the UAM prototype and receive airworthiness certification. If UAM is commercialized, do you intend for manufacturing to continue at Starlink Aviation?"
Miso hesitated to answer because her business area overlapped with President Jo's, so Taesik stepped in.
"For now, we'll start at Starlink Aviation, and once the business is in full swing, Starlink UAM will take over the operations. And as the business grows, I plan to spin off the UAM division into a separate company to handle everything from manufacturing to operations."
"Then, Starlink Aviation will just support the initial start and commercialization."
"Hahaha. No. Why aren't you considering the defense sector?"
"Once UAM is commercialized and we secure sufficient flight time, Starlink Aviation intends to apply UAM to the military sector. Compared to existing helicopters, it has less noise and a superior flight range, so it has high military value."
"It's not quite there yet, but... if the technology develops further, it's possible. CEO, let's go see the UAM prototype. It's in the final assembly stage."
As they moved to the factory, President Jo complained to Taesik, saying that the defense sector had been given some breathing room due to the atmosphere of the President's impeachment.
"CEO. Because of the impeachment atmosphere, all audits that were being conducted in the defense sector are being suspended. In an atmosphere where the entire defense sector is being driven by corruption, no major corruption is actually being found, so everyone is just trying to cover it up quietly."
"Are new orders starting to come in little by little?"
"The defense sector has suffered immense damage because all new development orders were stopped, labeling it a den of corruption. We were fine because we mainly secured long-term orders, but the other companies were all struggling. Ah! Except for Starlink Defense. They enjoyed a special boom thanks to North Korea."
"The harsh winter is passing, so good things should happen soon."
"CEO! Miso! This is the UAM assembly line."
President Jo pointed to a corner of the factory that had been partitioned off, then guided Taesik and Miso inside the screen.