With the Time Shop, I Too Am the Greatest Conglomerate of All Time

Episode 87. Kowon Electronics TV Division.

TM Display President Yoo Kang-woo said with a frown on his face.

“The TV division of Kowon Electronics is a poorly-known division with virtually no sales. How are you going to sell the panel there?”

The domestic home appliance companies were dominated by three companies: Hwansung, RG, and Baekwoo.

The same goes for the TV market.

Kowon Electronics had quite a bit of sales in the mobile phone and computer markets.

There was little presence in the other finished product markets.

But if you think about it the other way around, there are no LCD panels that we produce or TV products that we are selling as our main focus.

In a way, it was a good environment to challenge a new product called LCD TV.

For that reason, Go Won Electronics could be the best partner for me.

Moreover, although the TV division is not famous, it has everything it needs at least, so if a good product is developed, production and sales were no problem.

“If there is no sales now, is there any way that there will be no later? It is my opinion, but I think we and Ko Won Electronics will get along well.”

“..If you think so, I will meet and talk with President Ko Won Electronics.”

“Because the TV division needs new funds, it won’t work for the boss. I will come to a discussion with Vice Chairman Jin Seon-ho, so please prepare thoroughly so that there will be no problems when mass-producing TV panels.”

I visited Gowon Electronics’ headquarters with two members of the TV panel development team.

Upon entering the conference room, Vice Chairman Jin Seon-ho and Kowon Electronics President Joo Young-baek were seated.

“It’s been a long time since I’ve seen you face to face. Vice-President.”

“okay. Is this the first time since the last acquisition of the LCD division?”

“yes. However, I am glad that the complexion seems to have improved compared to before.”

“haha. The power of the forces holding me back in the group suddenly ran out. I really enjoy working these days.”

It seemed that the investigation into collusion had begun in earnest.

“okay. I’m glad you had such a good job.”

“okay. I wish it was always like these days. By the way, are those friends holding the new LCD that CEO Kang talked about?”

When I glanced at the team members, they connected LCD panels and drive boards to the table to display images.

On the screen, European soccer teams were playing.

Vice Chairman Jin and President Joo did not say anything until the five-minute video was over.

“How were you?”

When I rushed to answer, Vice Chairman Jin opened his mouth.

“..is this really an LCD panel?”

“I can’t believe it. Aren’t LCD screens a bit white as a whole, and the boundaries between colors are a bit blurry? The movement also felt like an object was being dragged, but it doesn’t feel like that.”

The points that Vice Chairman Jin just said were characteristic of the panel made in TN mode in the early days of LCD development.

Of course, the new sample selected this time is not at a level that can be said to be perfect as a display.

If you are a picky consumer, you may not know that there is something that catches your eye.

But because it has become enough to satisfy most ordinary consumers.

Vice Chairman Jin was surprised.

After that, the president’s speech continued.

“Looking at the color, it seems to be the same VA mode panel used by Soap, but the response characteristics seem really good.”

Maybe it’s because I’ve managed the LCD business in the past.

The chief executive knew quite a bit of professional content.

“yes. The response speed of the monitor panel we are making in TN mode is about 25ms, but our panel is 20ms. That’s about 20% faster.”

“..that’s great. I’m Yoo Kang-woo, vice president, and now I’m the president. When I got a report from President Yoo, he said that the response speed of VA mode was slower than that of TN mode. So, after hearing that it would be difficult to develop LCD panels for TVs, I was instructed to focus on monitors and mobile phones.”

Well. You have to do something difficult to survive in this tough display industry.

There was a reason why Kowon Electronics’ LCD division became like that in the future.

There were pros and cons to whether the management was entirely entrusted to a professional manager or whether the owner led the company.

However, strong ownership is usually required in the early stages of product development.

A definite future is not guaranteed.

This is because you have to invest a huge amount of money until the results come out.

Professional managers usually tend to avoid risks, so it was not good to entrust everything to a professional manager from the beginning of the business.

It seems that Vice Chairman Jin trusted President Joo Young-baek too much.

“It’s a bit harsh to say this in the context of taking over the LCD business, but even if I didn’t make a new product like this, LCD TVs will replace CRT TVs in the future. It is said that the development of LCD panels for TVs was the most important item.”

At my words, the chief executive put on a face of self-blame.

“..you are saying that my judgment is wrong.”

“In the end, it is. But at the time, few people would have thought that even TVs could be edible by LCDs, so you don’t have to blame yourself.”

Of course, cheers and RG were not included in that ‘almost’.

They will still be spending a lot of research money on the development of LCD panels for TVs.

And thanks to that decision, the two companies will dominate the global LCD market for the next 15 years.

At that time, Vice Chairman Jin stepped in.

“ruler. There is no need to rethink what has already happened. Let’s talk about how we are going to proceed.”

“I hope that the TV division of Kowon Electronics will accept this panel.”

Vice Chairman Jin replied with a puzzled face.

“Right now, the TV division is a TV division only in its name, and it is not an environment to develop products properly. The performance of this panel certainly looks good, but I think it will be difficult for us to digest.”

“That’s why I contacted the Vice President to meet you. It’s an environment for development, isn’t it possible to do something with money?”

“…even though. Our situation is not that easy. There are very few businesses that are making a profit, including the semiconductor business.”

“I know that Kowon Electronics is in a difficult situation. But in times like these, bold attempts are needed. This panel has superior performance to that of Japanese Soap, which is now considered to be the most advanced in LCD technology. If you make a TV with this panel, there will definitely be a reaction in the market.”

As Vice Chairman Jin still seemed hesitant, I added a word.

“A company that goes beyond cheers and RG. Don’t you want to make Kowon Electronics into such a company? I dare say that this is the first and last opportunity to do so, even when neither Shawn nor RG are thinking of launching an LCD TV.”

After thinking for a moment, Vice Chairman Jin opened his mouth.

“..CEO Kang, do you really think our Kowon Electronics can be like that?”

“At least for home appliances called TVs, cheers and RG will never exceed Kowon Electronics.”

I wonder if Hwansung and RG give up their LCD business and use my own panels.

As long as I use my own panel, I could never stand up to Go Won Electronics, who uses my own panel.

Vice Chairman Jin looked into my eyes and nodded.

“I trust CEO Kang! Even with my own money, the TV division prepares me for a place where I can make a decent TV.”

You’ve finally crossed it.

“thank you. Vice President. The decision you made today, you will never regret.”

Vice Chairman Jin laughed.

“haha. Promise me one thing.”

“If this goes wrong, let’s have a drink together. Let me finish when I stretch out.”

He still doesn’t know how much he drinks.

At that time, even after emptying 3 bottles of liquor, it was said that it was more than that.

Are you talking about killing me?

“Why no answer?”

No matter what happens, I must succeed.

“Then, if you make a product, when is the best time to release it?”

“I think the end of November this year would be appropriate.”

“Why did you think so?”

“That’s when IFA was there.”

IFA (Internationale FunkAusstellung Berlin).

Berlin International Consumer Electronics Show, one of the world’s top three consumer electronics exhibitions.

In about 10 years, the Consumer Electronics Show (CES) hosted by the Consumer Technology Association of America will become the most prestigious electronics trade show.

Even at this time, new home appliances from famous companies were usually announced through IFA, and their status was so great.

I was planning to introduce LCD TV through this IFA.

“Well. IFA. are you sure It will only be an international disgrace for being an obscure product.”

“of course. I can assure you, the most shining product at this year’s IFA will be Kowon Electronics’ LCD TV.”

“It’s fine if you’re so confident. Let’s work towards the goal of exhibiting LCD TVs at IFA.”

“Thank you for listening to me.”

“no. I was persuaded by CEO Kang’s words, but it was my dream to go beyond cheering and RG. It would be great if the start was IFA.”

“And I have something to ask you.”

“CEO Kang, take care of our TV division until we can mass-produce LCD TVs.”

“yes? me?”

“okay. The TV division is in a mess right now, so there’s no talent. It would be nice if CEO Kang took charge of it and made it a proper business unit.”

“Well…”

“I’m not asking you to do it for free. If our TV division exceeds Hwanseong and RG as CEO Kang said, we will hand over 5% of Kowon Electronics’ stake.”

It was a company with a market cap of over 10 trillion won, so even if you receive 5% of it, you would get 500 billion won.

The problem was that the debt accumulated by Kowon Electronics exceeded its market cap.

It was not strange when it passed to the creditors.

Even if I got a 5% stake, there was a chance it would be a piece of tissue paper.

Even though there was such a risk, I nodded my head.

“If that’s the case, that’s good.”

I don’t know if this LCD TV business goes back to failure.

If it succeeds, there will be no chance that Kowon Electronics will be transferred to creditors.

Even if it was to sell my panel anyway, I wanted to make this business a success, so there was no reason to refuse.

Vice Chairman Jin smiled with satisfaction.

“Then take good care of the TV division. Vice President Kang.”

“We will make it the best TV division in the world.”

“haha. Trustworthy.”

#Suwon Sungwoon Logic Headquarters.

“hello. CEO.”

As I returned to the staff for greetings and looked around the office, I fell in love for a moment.

Last month, the contract to acquire Sungwoon Logic had already ended.

With an internal reserve of 80 billion won, he purchased hardware such as supercomputers and various semiconductor tools that he thought were necessary.

The number of design personnel increased from about 10 to 50.

As a result, looking at the office that has grown in size beyond comparison with the beginning of this year, I smiled with satisfaction.

I glanced at 4 monitors at the same time and touched the shoulder of Mr. Lee Byung-hoon, who was absorbed in his work.

“president.”

“Oh, CEO Kang. When did you come?”

“Just. How complete is Drill 2?”

Drill 2 is a next-generation architecture that borrows the core design of micro-architecture to be announced in 2005 by PRM.

As with Drill 1, only incomplete design drawings were memorized, so President Lee Byung-hoon was working to make up for the missing parts.

President Lee Byung-hoon smiled.

“Now we are almost 95% done. It is also representative of Kang. Drill 1 alone is great, how were you thinking of something like this again?”