Daekom Mobile: The Scheme That Set the Chairman's Heart Racing
No flowery rhetoric was needed to make Chairman Kang's heart tremble with the brilliant idea. Just six letters scribbled on the blackboard by Min-ho. That was enough.
‘Daekom Mobile’
Chairman Kang already knew what it meant without any explanation. The mere thought of acquiring the mobile telecom company filled him with uncontainable joy. He threw both hands up high and laughed more heartily than ever.
"The bear does the tricks, and we landowners rake in the cash... So this was what my grandson had in mind."
"It's not a sure thing yet, but since we hold the negotiation cards, we can easily put it on the table."
"Of course! You can't sip expensive whiskey without some chicken feet to go with it."
Chairman Kang, with his keenly sensitive nose for business, had every reason to be this thrilled. The easiest way to swim is to push off the bottom—no risk of sinking, no need to lift your head for air no matter how you flail.
For a corporation, a monopoly business was no different from a golden goose. Wolves had long eyed this tempting prize, but a massive fence called a state-owned enterprise had blocked them. Now, the government had chosen competition in telecom and declared the privatization of the state-run Daekom Mobile.
With the announcement of the second mobile operator selection, the fence vanished. High-priced car phones and pagers were surging in popularity, but users still numbered only 130,000. Considering Korea's population, no calculator was needed to see the goldmine ahead.
In just five years, riding the economic boom, Daekom Mobile would post massive profits and a per-share price over 600,000 won, claiming the top spot in market cap. No one could deny its allure.
But compare that to Line 7 construction costs, and the story changes dramatically. At 420 billion won total, pitting it against a single state firm was absurd from today's view. If Min-ho refused to sell the land, Seoul City and the Ministry of Land would have to scrap and revise Line 7 plans entirely. No need to measure whose belly was bigger—the answer was obvious.
Chairman Kang finished his mental calculations, his face lit with a grin that wouldn't fade. Even if Min-ho's plan fell short, it didn't matter. Insight, broad vision, bold guts—the very qualities he'd longed for in his children, now shining in his grandson.
He laughed so hard he coughed. Moon Sang-oh quickly brought a glass of water.
"Are you alright, Chairman?"
"More than alright. How could I not be?"
Chairman Kang wiped the water from his lips with a tissue, paused his laughter, and subtly voiced his concern.
"Everyone sees Seonyeong Group as the frontrunner for the mobile license... You have some clever counter in mind?"
"Because of Prime Minister Min's ties to Seonyeong Group?"
"Arms bend inward, as they must. No matter how impartial he pretends, with the PM and Seonyeong connected by marriage, it's clear whose side he'll take."
"It looks that way at first glance, but it'll backfire on them."
"A self-inflicted wound... Is that what you mean?"
"Yes. Let me explain why it's inevitable."
Min-ho picked up the chalk again and began outlining it for Chairman Kang.
"The decision-maker for operator selection is effectively Prime Minister Min Pil-muk. And yes, he's in-laws with Seonyeong."
"Exactly. That's what's nagging at this old man."
"We can't deny Seonyeong's lead now. But if they're selected, will the other companies just sit quiet?"
"Those sharks? They'll circulate petitions and bite back however they can."
Exposed info becomes a rival's weakness. Min-ho revealed another ace.
"Dry tinder's right in front, and I've got the match. What do I do next?"
Moon Sang-oh, who'd been listening quietly, asked urgently.
"You're not saying you'll fan suspicions of favoritism, given the PM's ties to Seonyeong?"
"Exactly. No matter how it plays out, it won't look clean to others. What's the next step?"
"Prime Minister Min won't withstand the public pressure. If so, Seonyeong might even declare withdrawal—we can't rule it out."
"And we slip right in."
Now fully grasping it, Moon Sang-oh nodded repeatedly.
"The PM, cornered on all sides, has only one choice."
"A group with ample funds and all of Line 7's land—who could that be?"
"If it goes to plan... we'd have the highest odds."
It was a flawless scheme—no scenario led to defeat.
Chairman Kang, having listened and pieced it together, exhaled cigarette smoke before speaking.
"If things snag, you'll apply pressure to pry out the stone?"
"If a stone's lodged in my land, I pull it out roots and all. That's why I have one favor to ask."
"Name it."
Min-ho leaned in and whispered. Hearing the ploy, Chairman Kang grinned in satisfaction once more.
"A masterful stroke. If it works, victory's all but assured."
"Just pick your seat at the negotiation table. I'll handle the rest."
"Fine. Even failure's no loss, so go wild."
"Yes, Grandfather. I need to head out first for the land deals. I'll call as things progress."
With that, Min-ho hurried home. Chairman Kang watched his grandson's retreating figure. Joy should have filled him, but creeping worry lingered.
Sighing amid cause for celebration meant trouble. Moon Sang-oh cautiously probed.
"Chairman, any worries on your mind?"
Gazing at distant mountains, hands behind his back, Chairman Kang spoke heavily.
"Never dreamed I'd live to see such wonders."
"Because of the young master?"
"He sees a thousand miles ahead while others grope blindly inches forward."
His concern was no mere fancy.
"He's prime timber, no doubt. But four obstacles loom above him. I'm thrilled, yet it feels like I've gained an unsolvable headache along with him."
"Considering his age, there's still plenty of time."
Chairman Kang shook his head, voice grave.
"Plenty for Min-ho or Du-seong, maybe. But for this old man? Who knows."
***
Séocho-dong, Min-ho's house.
Choi Jong-hoon, having wrapped up the Jangam Station land purchase ahead of schedule, had no clue what transpired in Seongbuk-dong. As mere legal staff, he couldn't dare call there. He just waited anxiously.
Pacing the living room endlessly, he fiddled with documents to calm himself, but nothing registered. Finally, he stepped out to the street, tensely awaiting Min-ho.
How long had it been? A taxi pulled up, and Min-ho emerged.
"Young master..."
Choi's face mixed relief and worry, fretting over Seongbuk-dong mishaps. Min-ho waved casually, smiling to reassure him.
"What are you doing out here?"
Uncharacteristically hesitant, Choi stammered.
"Well... I couldn't call, so... sorry."
"Sorry for what? I should've messaged first. After this, I'll get you a pager. Use that."
"That sounds best."
"Jangam Station went smoothly?"
"Offered 20,000 won more per pyeong, and the owner agreed happily. Barely escaped the 'one drink' invitation."
"Big money means neighborhood parties. Good work. Let's head in and wrap things up."
Back home, Min-ho briefed Choi in detail on Seongbuk-dong, as he needed to know the full plan. Choi jolted in disbelief.
"You sent me to Jangam for that reason?"
"Yes. As I explained, that's the only spot nearby for a subway depot."
"So this land's worth a fortune. Now I get why you said pay premium."
"And I'll inflate its value even more—that's my job. Anyway, great work."
At Chairman Kang's word, the real estate team flew in urgently from Tokyo. Despite the prior slip-up, they were true pros. A warm meal from the chairman maxed their performance.
Hours after Seongbuk-dong orders, the first victory report arrived.
"Young master, No Jun-hwan here."
"How's the site?"
"Sweeping from Dobongsan down as instructed. Suraksan, Madeul, Nowon, Jungge deals closed."
"Names as I specified?"
"Yes."
"Report as you go."
"Understood."
Min-ho crossed off Line 7 station names one by one in his notebook.
"Young master, these real estate pros move fast."
"Know what happens if they fail?"
"No pay?"
Min-ho grinned casually.
"Off to Pocheon."
"Pardon? For real?"
"Just a bluff—I have no authority. But it works wonders."
No breather. Reports kept coming.
-Section Chief Song Chae-woo. Junja, Chungok lands acquired.
-Gu Yeong-min. Children's Grand Park, Gongneung Station wrapping up.
-Young master, Yoon Sang-baek. Sagajeong, Myeongok in Jungnang-gu done.
All plans progressed smoothly. Min-ho smiled, closing his notebook as he set down the receiver.