Chapter 137
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Translator: penny
Chapter: 137
Chapter Title: New Ventures and Personal Bonds
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Yoo Jin-seong skimmed through the report.
The first topic covered IT. It detailed the background of IT's emergence, famous IT companies, and future prospects for the industry.
The report gave a positive assessment of the IT sector.
"The IT industry seems poised for explosive growth in the future. It's already come a long way, but I predict it will advance to levels we can't even compare to today."
"Our country's job market will change as well. IT companies are set to rise rapidly, and I foresee salaries for professionals in the field skyrocketing."
The second topic was platforms.
"Going forward, platform companies will compete fiercely over how many users they can keep glued to their platforms and for how long."
"The winner in the platform business will dominate the market. I think we should jump into platform ventures too."
The third topic was new business opportunities.
"The ventures that would pair well with our YSP fall into three main categories: internet broadcasting, shopping malls, and health foods."
"If we collaborate with our YSP Entertainment talent for internet broadcasting, I believe we have a solid chance of success."
"Partnering with fashion YouTubers could easily scale up a shopping mall business."
"Teaming up with Lee Hyun-woo to produce and sell healthy foods like chicken breast, salads, and health juices sounds promising."
He read the report three times.
The first pass was a quick skim, the second was slow and deliberate, and the third time he savored every detail.
"Hmm... The budget is lower than expected? Two billion for internet broadcasting, two for the shopping mall, two for fresh foods."
"Yes. By starting small and leveraging the company's excess assets, we can launch these at minimal cost."
"Sounds good."
He skimmed the report again. He recalled Secretary Han Ji-yu's words and actions.
"Hmm..."
He fell deep into thought. He stroked his chin with the back of his hand. A heavy silence of contemplation hung in the air for about ten minutes.
"Secretary Han."
Snapping out of his reverie, he looked at Secretary Han Ji-yu.
"Putting this report together must have been tough. You worked really hard—truly outstanding work."
He praised her efforts with a gentle smile and warm tone.
"No, not at all. It was just my job. And the report still has plenty of shortcomings."
She shook her head vigorously.
But she couldn't suppress her smile. Praise from the CEO felt like a reward for all her hard work.
"Let's go with four new ventures."
"Four?"
She tilted her head.
She had recommended three. Yet Jin-seong mentioned four.
"Yes, four. Internet broadcasting, shopping mall, health foods... and a cryptocurrency exchange."
"...A crypto exchange?"
"That's right. Korea doesn't have one yet. I'm thinking of launching the country's first."
"...What's a cryptocurrency?"
Secretary Han Ji-yu was clueless about crypto. The term "crypto exchange" didn't ring any bells.
Jin-seong explained cryptocurrency in detail.
It was virtual currency, and an exchange was like a currency exchange bureau where you could buy and sell it.
In the future, crypto would gain worldwide fame, and exchange revenues would inevitably soar.
'Platforms are all about first-mover advantage. Just look at KakaoTalk to see how crucial it is.'
'A crypto exchange is a platform too. Secure the market lead, build an overwhelming position, and we'll have a competitive edge.'
Truth be told, a crypto exchange hadn't even crossed his mind before. It just popped into his head while reading the report.
'Diversifying like an octopus's arms is usually risky. Even focusing on one thing is hard to succeed at. But I'm fine.'
With enough capital to protect the company and the ability to spot talent, octopus-style management was feasible.
'Business ideas are locked in.'
Funding was ample too.
'Just need to hire the right people.'
He gifted Secretary Han Ji-yu a book and product vouchers worth a million won.
Her hands trembled slightly as she took the book, and her lips quivered when she received the vouchers.
"...Thank you."
[Favorability: 76]
Watching Secretary Han Ji-yu leave the CEO's office, Jin-seong thought building favor wasn't easy.
'I want to make her mine.'
Team Leader Lee Myung-ho stopped by.
"We're opening the first Halmae Tteok franchise this Saturday."
"Fast work."
"Yes. It's two weeks ahead of schedule. Next Saturday, we'll open stores 2, 3, 4, and 5 all at once."
"Good."
Halmae Tteok's core strategy was to minimize company-owned stores and maximize franchises.
Jin-seong predicted labor rights would improve dramatically in the future.
Better labor rights meant higher wages and rising prices.
Higher wages could squeeze self-employment profits.
'Franchises solve labor and rent costs, while supply chain markups secure profits. That's how we make bank.'
'No royalties, but we pocket margins in distribution for steady gains.'
For instance, supply everything from uniforms and utensils to ingredients and sauces with a markup.
Headquarters sources at rock-bottom prices, adds a fair margin, and delivers—pure profit structure.
Jin-seong had no loans or installments. Zero interest or rent risks. Perfect setup for risk-free margins.
"This year's goal is 100 Halmae Tteok stores."
"Good. And next year?"
"Minimum 200, maximum 300."
"I believe in you. You can do it."
This year? Next year?
Goals seemed totally achievable. With luck, they'd overshoot.
'54 people.'
First round: 33. Second: 21.
Total of 54 franchise contracts signed.
This week, at least 15 more.
Blitz ad campaigns, low startup costs, great support—contract rates were sky-high.
"When can I meet the IT experts?"
"They're swamped, but the day after tomorrow evening works."
He set dinner for the day after tomorrow evening.
Left alone in the CEO's office.
[Na Min-seo: CEO, I'm so bored.]
[Na Min-seo: Can't you buy me drinks?]
[Na Min-seo: I wanna drink.]
He sighed.
Ever since that day, Na Min-seo had been relentlessly bugging him for drinks.
[Me: Busy.]
[Me: You have tons of friends, right? Drink with one you vibe with.]
[Me: Quit booze and smokes, and I'll sign you to our entertainment company.]
[Na Min-seo: Lots of friends, but zero I click with.]
[Na Min-seo: OMG;; CEO;; You're killing me ㅜㅜ How am I supposed to quit drinking and smoking? Impossible. No way.]
[Me: Busy.]
[Me: Good luck. Hit me up when you quit.]
He closed the Na Min-seo chat. Done talking to her.
No time to coddle his own people, let alone her.
[Kim Ji-a: CEO, I made up with Dad.]
[Kim Ji-a: He promised to divorce that woman and never drink again.]
[Kim Ji-a: Gonna visit home every Sunday.]
[Kim Ji-a: Heading to Everland this weekend.]
[Kim Ji-a: Ever since meeting you, CEO, my life's been full of happy things. Thank you.]
Reading the long message.
Heartwarming—!
Jin-seong smiled softly.
'Good for her. Really good.'
Ji-a seemed to have reclaimed her happiness. What a relief.
He hoped her life from here would be nothing but joy.
He replied.
[Me: Everland? Sounds fun! Have a blast. ^___^]
[Me: Ji-a, your future's gonna be packed with fun and happiness.]
[Me: Always fighting! Fighting!!]
Next, Yoo Seol's chat.
[Yoo Seol: Oppa~ Seol wants to go to Everland too~]
[Yoo Seol: Ye-jin wants to go too~]
[Yoo Seol: Su-a's never been~]
[Yoo Seol: Ji-a's going alone, so unfair~]
[Me: Wanna go to Everland?]
[Yoo Seol: ㅇㅇㅇㅇ]
[Yoo Seol: Nods nods]
[Yoo Seol: Super super yes.]
[Yoo Seol: Emoji]
[Yoo Seol: Emoji]
[Me: lol okay. Got it. Let's go.]
[Yoo Seol: Wooow!!! Oppa is the best best!]
[Yoo Seol: Best best! Truly the best!]
[Yoo Seol: Emoji]
Yoo Seol was just too adorable.
[Me: Practice fun?]
[Yoo Seol: Yup! So much fun!!]
[Yoo Seol: Friends are awesome!!]
[Yoo Seol: No studying, pure bliss!!]
[Yoo Seol: Want sweet and sour pork!!]
[Yoo Seol: Sichuan style please!!]
[Me: lol Got it. I'll get you some.]
Having money was great for moments like this.
Back when he was broke, he couldn't get his sister what she wanted. Now, pretty much anything was doable.
'Love how much brighter Seol's been lately.'
Next, A-young's chat.
[Choi A-young: Oppa ㅠ.ㅠ Mom's really sick ㅠ.ㅠ]
[Choi A-young: She collapsed, rushed her to the hospital.]
He furrowed his brow. Dialed her.
"A-young, which hospital?"
Sichuan sweet and sour pork would have to wait.