The day to return to Korea was drawing near.
Before leaving, there were still matters to handle, so early in the morning I went to Amazon headquarters with President Han.
"President Han, aren't you curious why I suddenly wanted to visit Amazon headquarters?"
"To check on the automation facilities, isn't it?"
"That's just a secondary purpose. I'm considering creating a distribution company in Korea similar to Amazon through collaboration with them."
"Are you venturing into the distribution business as well? The Korean distribution market is already tightly held by several large corporations. Breaking into that space won't be easy."
President Han spoke about the market situation.
As he said, the Korean distribution market was entrenched, and a few companies almost monopolized online commerce.
"Where in business is anything ever easy or difficult? It's just a matter of whether you have enough money or not."
"If you can invest heavily at the start and become the winner of a chicken game, then sure, it's worth it—but why take such a gamble unnecessarily?"
"There are multiple reasons. In five years, it will benefit the shipping company we acquire. It's also necessary for automation facilities and for promoting electric vehicles."
"By promoting electric vehicles, do you mean you plan to handle deliveries internally rather than using courier services?"
Most distribution companies relied on couriers.
Some companies owned their own courier services, but it was rare for a newly established distribution company to operate its own delivery fleet.
"All delivery vehicles will be provided by the company—and they'll be electric. All delivery staff will be hired as full-time employees and properly managed."
"That will require an enormous initial capital outlay."
"Which is why we came to Amazon. We won't just collaborate on technology; we'll also take an equity stake. That reduces the burden of the initial investment."
"Isn't it still money coming out of your pocket, Chairman?"
I personally owned roughly half of Amazon's shares.
The only person who knew this was President Han.
He had worked with me since the SAVE investment company days and had even shared the same table with Amazon's CEO, Jeff, so there was no way he wouldn't know.
"As long as it appears we're managing risks on the surface, that's enough. We'll likely run at a loss for about ten years. If it stretches, maybe close to twenty. But once that period passes, the investment can be fully recovered."
"To turn a profit, we'll need to secure the number-one share in Korea's distribution market."
"Then we just need to achieve number one. Let's go in now—Jeff has been waiting a long time."
I patted President Han on the shoulder as we entered Amazon headquarters, where Jeff was already waiting in the lobby and personally guided us to the reception room.
"Congratulations! I heard the news—you've successfully acquired GM."
"I'm not sure it's something to congratulate me for. The GM acquisition is going to keep me very busy."
"If you request it, we at Amazon can support your investment. Just let me know anytime."
"Then support investments elsewhere, not GM. We're planning to launch an e-commerce service in Korea similar to Amazon."
Jeff rubbed his forehead, clearly unsure whether I was joking or serious.
"You mean starting an Amazon-like service in Korea? Is that really necessary? Why not just let Amazon expand into Korea? Wouldn't it make sense to have Taewoo Group manage Amazon's Korean operations entirely?"
"It will be similar to Amazon, but slightly different. In the U.S., the territory is vast, so distribution requires a lot of manpower and time. Korea is a smaller country, so the service needs to match the scale here."
"What exactly do you mean by that?"
"Same-day or next-day delivery. If a consumer orders something online, the product will arrive by that evening or the next morning."
Jeff waved his hand, signaling that he thought my plan was impossible.
"You're not sending it by rocket. Same-day or next-morning delivery isn't possible."
"Maybe not in the U.S., but it's possible in Korea. Half the population lives in the Seoul metropolitan area, and the rest is concentrated in the five major cities. It's fully feasible."
There was no need to reason it out theoretically.
Same-day or next-day delivery was possible because I had personally experienced it.
Nowadays, delivery usually takes at least three days, but before the regression, receiving a package the next day was the norm.
"If you say it's possible, then it must be possible. So how much support would you need? Since you're asking, we'll provide whatever you need."
"$2 billion should be sufficient. I'll give you 20% of the shares."
"You really are asking for exactly what you want. Amazon isn't in a position to support $2 billion at once. Would it be acceptable to split the $2 billion support over five years?"
"That's more than enough. You could even split it over ten years if necessary. After all, to reach profitability, we'll be engaged in this chicken game for nearly twenty years anyway."
Two billion dollars—that was over two trillion Korean won.
Even for Amazon, this wasn't a small amount, and especially after the Lehman shock, when cash was scarce, it was a heavy burden.
"You're planning to fully monopolize the market. But isn't this a bit short for a full chicken game? I wish I could provide the full $2 billion at once, but I'm sorry I can't."
"Don't worry. The fintech bank will be participating as well. If Taewoo Group, Amazon, and the fintech bank form an alliance, monopolizing the Korean distribution market will be a piece of cake, won't it?"
"The fintech bank is joining as well? Korean consumers will be thrilled, and competitors will just fall by the wayside."
Korea already had a social commerce-based e-commerce market.
However, the social commerce market was not profitable relative to investment.
To make a profit, competitors had to be driven out, and a monopoly had to be established.
"It's going to be fun to watch. We'll start on a grand scale. And we'll build multiple logistics warehouses using Amazon's automation systems to 120% capacity."
"You can use our automation systems as much as you need. After all, they wouldn't exist without you. If necessary, we'll even send our automation personnel to Korea."
Before the regression, the social commerce market had run a loss for nearly twenty years.
But if we could quickly establish a monopoly using Amazon's support, profitability could be achieved much sooner.
"We'll gratefully take the personnel. And this won't be bad for Amazon either. Once same-day delivery is established in Korea, the know-how can be applied in the U.S. as well."
"In that case, we'll transfer the know-how directly and apply it in the U.S., though we'd need to double the number of logistics warehouses to make it feasible."
"Buy any suitable real estate now. Property prices have bottomed out after the Lehman shock."
The U.S. real estate market was a goldmine right now.
It had hit rock bottom, and the only direction left was up. Buying land now meant it could easily double in value within a few years.
"Is it really okay? I'd been hesitating, worried the prices might drop further, but since you say so, I'll purchase the logistics warehouse sites immediately."
"If you need cash, just talk to the fintech bank. They'll provide loans at low interest for whatever amount you need."
"So you mean invest cash in Korea and cover real estate purchases with loans?"
"It's a bit of a ruthless suggestion coming from me, I admit. But you mustn't back out of the investment."
"You hold the majority of shares anyway. What can I do? If you say invest and buy real estate using loans, then I'll do it. Hahaha!"
Jeffrey laughed heartily.
At first glance, his words might seem loaded with hidden meaning, but between us, there was no need to read anything into it.
"We'll set up the corporation and be in touch soon."
"I'll be fully prepared and waiting. By the way, have you decided on a name for the company you'll start in Korea? If needed, you can even use the Amazon name."
"Thanks, but the company name is already decided. 'Rocket.'"
"Ah, meaning you'll deliver as fast as a rocket. That's a good name."
The collaboration with Amazon was successfully concluded.
Now, there was only one last task left before I could return to Korea.
***
The next day.
I enjoyed lunch with David at a steakhouse that exuded a strong Western vibe.
"This place grills steaks better than anywhere nearby. How does it suit your taste, boss?"
"Quite good. Definitely different from Korean-style beef."
"Korean BBQ, where you grill thin slices of beef, is tasty too, but it's a different flavor from steak."
I quickly polished off over a kilogram of steak.
After a glass of wine to cleanse the palate, I finally got to the main topic with David.
"There's something we need to handle that involves moving political powers in the U.S. and Europe."
"Just some lobbying after a while, right? Whatever it is, just give the order and I'll handle it efficiently."
David's eyes were bright, waiting for instructions.
At times like this, he resembled a well-trained hunting dog.
"Can you make it so we receive subsidies for electric vehicles?"
"Environmental concerns are very high in Europe and the U.S. right now. Plus, the current U.S. administration is Democratic, so with a little push, it won't be hard to secure them."
"Also, I want incentives related to EV charging stations. It would be ideal if laws required public parking lots or apartments to install EV chargers."
Preparatory work was needed for the commercialization of electric vehicles.
For that, the political powers in the U.S. and Europe had to be mobilized.
"Since proper electric cars aren't available yet, I'm not sure how politicians will react."
"Don't worry about that. By late next year at the latest, proper EVs will be released."
"I'll start lobbying the politicians for now. But if EV commercialization is delayed, the legislation will inevitably be delayed as well."
No matter how skilled a lobbyist David was, it was difficult to push through legislation requiring EV charging stations for electric vehicles that hadn't even been commercialized yet.
"First, focus on resolving the EV subsidy issues. The charging station matters can be handled gradually."
"That will take quite some time. I'll need to wet my liver with alcohol—it's been a while. I've been saving it just for today."
"Trust me, I'll return to Korea now."
"It feels oddly sad knowing you're heading back to Korea, boss. I'll see you off at the airport."
We left the steakhouse.
Outside, Captain Kang and his twenty staff members were waiting, with ten vehicles ready to head to the airport simultaneously.
Today marked the end of a long-term business trip to the U.S.