Episode 51: Media Interview
Ye Jin-joo, the secretary, brought out some coffee.
Robert, holding a Korean traditional-pattern mug without much thought, took a sip and then suddenly looked at Lee Chang-jin with surprised eyes.
“Oh my god, could this be…?”
Unable to finish his sentence, Lee Chang-jin smiled gently.
“Yes, it’s Luwak coffee. It’s my only luxury.”
“I’m a coffee enthusiast too, but I’ve never been served such precious coffee by a business partner before.”
For Americans, coffee is an inseparable part of their daily routine. From morning to evening, they drink at least three cups a day. Coffee time, a brief break, is a tradition at American companies and a standard for employee welfare.
In Korea, where even small and medium enterprises in developing countries serve Luwak coffee to guests, it left a strong impression. Jack, who also tasted the coffee, raised his evaluation of Lee Chang-jin internally.
After enjoying a moment of relaxation on the sofa with a cup of coffee, Robert got to the main point.
“After inspecting the company, we are confident in our choice. However, looking at the current factory operations, it seems quite busy. With the current equipment scale, there might be difficulties in increasing additional volume. Can you handle our required volume?”
“Don’t worry. We can partially expand and modify the production line. We have secured fixed quantities for Cheongwoo and received advance payment for the new hot-rolling plant expansion equipment from Anyang Steel, so we have sufficient funds. Adding manufacturing equipment won’t be a problem.”
“Hmm, then how long do you estimate it will take to expand the production line?”
“Six months should be enough. If you provide the production manual and equipment layout drawings, we will build the line according to our factory size. If you send a Technical Advisor (TA) during the expansion, we can modify the facilities to meet Clark’s production standards, which could further shorten the time.”
“Hmm… good. Do you have any additional requests?”
“Ah, I have one request. While we can procure major parts and components from Clark headquarters, please allow us to use domestic products for some parts, like bearings, bodies, and frames, which we can manufacture.”
Robert tilted his head at Lee Chang-jin’s suggestion.
“That’s unexpected. Why is that?”
“Securing price competitiveness is a priority if the quality conditions are the same. You are considering future exports to countries beyond Korea, right? Running an assembly plant with 100% imported parts would increase logistics costs and production costs, making it difficult to be competitive in the Asian market.”
Lee Chang-jin handed over prepared statistical data. The statistics detailed recent tariff changes over the past three years and additional logistics costs.
“While we can’t avoid using core components, increasing the proportion of local procurement seems to be the solution to compete with local companies.”
Robert, flipping through the documents, asked with slight concern.
“Hmm. Tariffs are higher than I thought. I didn’t consider that. Won’t there be quality issues with the products?”
Although he had a good impression of Lee Chang-jin, Robert had a slight prejudice against Korean companies. Sensing Robert’s concerns, Lee Chang-jin added,
“We can complete a prototype and conduct performance and durability tests. If it passes the quality tests according to Clark’s standards, there should be no issues with sales.”
“Hmm, that makes sense. What do you think about the cost-saving conditions?”
“A ratio of 7:3 seems appropriate. Please apply the same royalty and other conditions as in Europe. Is that possible?”
“Don’t worry. Clark does not discriminate against its partners.”
“Then, how about starting with an annual production of around 100 units? Approximately 10 units per month for counterbalance forklifts. Is that too much?”
While Robert’s suggestion seemed considerate, it was far from what Lee Chang-jin desired.
“That volume is too small to balance our production costs and operating expenses. If you are investing in this market, please increase the fixed volume. Realizing economies of scale is also advantageous in lowering production costs.”
“Hmm, then how much do you want? I’d like to know your desired level.”
“An annual order volume of around 1,000 units would be appropriate.”
Robert and Jack looked at each other at the tenfold increase from the initial proposal.
Jack, looking slightly troubled, voiced his opinion.
“An annual volume of 1,000 units, we can supply the parts. But considering the scale of the Korean equipment market, it seems too much. You know there’s not much demand in Korea, right?”
At the time, the forklift market’s scale was around 200 units annually. Considering the overall market size, it was a burdensome figure. However, Lee Chang-jin had already thought it through.
“If there is no market, we can create one. Please grant us the marketing rights. If you give us exclusive rights, we will find a way to sell them.”
Robert, deep in thought, remained silent. Jack, beside him, also expressed concern.
“Hmm… It’s not an easy decision. If the goods don’t sell, we could end up with a lot of unsold stock… Can you handle that?”
“I’m confident. Think about it the other way. If our products are competitive, won’t there be markets beyond just Korea? If you don’t have any specific areas in mind, how about granting us the exclusive distribution rights for Asia? Then we will take responsibility for the sales.”
Robert felt trust in Lee Chang-jin’s confident gaze.
He liked this sophisticated Asian man. Robert decided to trust his instinct.
“Judging by your confidence, it seems you have a plan. Alright. Since you are confident in sales, we will grant you the exclusive distribution rights for Korea. However, it’s too early to give you all of Asia. Let’s operate on a trial basis for three years, and if the results are good, we will discuss it again.”
“Agreed.”
Although the scope was reduced from the initial request, the primary goal was to obtain the exclusive distribution rights for Korea, so there was no particular dissatisfaction. After three days of negotiations, both companies exchanged OEM joint venture contracts, including overseas training for mid-level production technicians, as technical cooperation partners. The fact that Clark did not have an Asian partner yet worked to Lee Chang-jin’s advantage.
Jack and Robert returned to their home country a few days after the agreement.
Gathering the employees in one place, Lee Chang-jin started the conversation.
“Regarding the partnership with Clark, it seems we need to hire new personnel. Can you look into finding any retired Navy maintenance depot personnel or Air Force mechanics?”
It was already well-known in the industry that the most skilled mechanics were usually retired military personnel. At the time, there were few places where one could handle as many robust and diverse machines as the military units.
However, Koo Chang-dong expressed reluctance, unlike usual.
“Well… I will look into it, but it’s the major corporations’ recruitment season, so it won’t be easy to find good candidates. This time, Taeyang Group, Ohseong, and Mirae are also conducting large-scale experienced hires.”
“Is the schedule overlapping?”
“Yes, it seems so. It’s hard to avoid as the top 10 companies conduct their recruitment on specific dates. Additionally, commercial banks are also hiring, so it’s uncertain how many will apply.”
The newly recruited personnel amounted to almost 3,000 from Anyang Steel, Ohseong, Taeyang, Terra, Songdo, Daewoong, Gwanghan, Eunho, Cheongwoo, and Yanghun. Lee Chang-jin asked Manager Koo,
“Wouldn’t they apply if we offer overseas training opportunities with Clark?”
“I’m not sure. Skilled workers do have a strong desire to learn new technologies since it’s their livelihood. But the big company premium still exists. Many just hope to get into big companies.”
It was as hard to attract good talent to small and medium-sized enterprises back then as it is now.
The employees in the meeting room brainstormed together, but no effective solution emerged.
At that moment, Assistant Yeo cautiously raised her hand and offered an opinion.
“How about advertising in the daily newspapers?”
“Advertising?”
“Yes, if the agreement with Clark is made public, won’t the media take an interest? It’s rare for a small and medium-sized enterprise like ours to secure a partnership agreement with a world-renowned company like Clark. It would also be suitable for corporate promotions.”
“Hmm. That sounds like a good idea.”
Lee Chang-jin fell into thought for a moment. Using the media for recruitment wasn’t a bad suggestion. Above all, promoting through newspapers or magazines could increase interest in the company.
In fact, there had been several interview requests regarding the vacuum dryer, but they were declined. This was because the contract was not fully finalized yet, and there was a possibility of disrupting operations. Especially since Lee Chang-jin had experienced several instances of losing employees to competitors due to company promotions in his previous life, he was cautious about media exposure.
However, given the season, it was hard to find a better solution.
After contemplating for a while, Lee Chang-jin called Jin Seon-ah separately.
Jin Seon-ah, feeling subtly pleased, answered the call.
“What’s the occasion? Calling during work hours?”
“Do I need a reason? I just wanted to hear your voice.”
“Hmm. That doesn’t sound like the Chang-jin I know… What do you need? Just tell me quickly.”
Prompted by Jin Seon-ah, Lee Chang-jin got straight to the point.
“Seon-ah, do you know any reliable journalists?”
“Hmm, for what?”
Lee Chang-jin explained the situation honestly.
After listening, Jin Seon-ah responded positively.
“A media interview for corporate promotion. That’s a good idea. I know an economics reporter I am close with. I’ll connect you.”
Not long after Jin Seon-ah said she’d look into it, a request for an interview came under the name of ‘Gyeongun Daily.’
Ye Jin-joo reported,
“Sir, Gyeongun Daily wants to schedule an interview. It’s an introduction from Assistant Jin.”
“Gyeongun Daily? That’s one of the major newspapers.”
Lee Chang-jin was a bit surprised. 『Gyeongun Daily』, along with 『Hansung Daily』 and 『Donghwa Daily』, was one of the top three newspapers in the industry. Ye Jin-joo brought a questionnaire and some selected photos for the interview prepared in advance.
“These are their requirements. They also want to use the photos for magazines and selected a few samples. They were pleased to hear you are from Mannheim. They requested we prepare something that gives a progressive and sophisticated impression, leveraging your experience in foreign companies.”
“Got it. Leave it here; I’ll review it.”
The photos showed male models in suits.
While pondering what to wear, Lee Chang-jin suddenly remembered a gift he had received previously.
“Ah, right, I have that.”
Lee Chang-jin took out a suit from his trunk, a gift from designer Kim Bong-soo. It was a casual-style light blue shirt and dark navy fabric. The set included a diagonally striped purple tie. Wearing the suit felt like it was made just for him.
When he arrived at work in his new suit, a petite female reporter who appeared to be in her mid-twenties was already there for the interview. Though small in stature, she had delicate and refined features, giving a robust impression. The reporter, accompanied by a cameraman, extended her hand with a smile.
“I’m Joo Young-mi from Gyeongun Daily. Are you President Lee Chang-jin of Daese Industries?”
“Yes, I am Lee Chang-jin. Nice to meet you.”
“Ah, I heard from Assistant Jin. I toured the factory with Assistant Yeo before you arrived, and it’s incredibly clean. As rumored, the working environment is very fresh, and the break room is well-equipped, indicating good employee welfare. The employee satisfaction seems high.”
“Ha ha. Thank you for the compliment.”
Lee Chang-jin thought her face looked familiar. He had definitely heard the name and seen the face somewhere before… A memory flashed in his mind.
He remembered. Joo Young-mi, a prominent female journalist from 『Gyeongun Daily』 in the 90s, who often appeared on the news.
‘Ah, I remember now. Joo Young-mi, the first female department head at Gyeongun Daily, who rose to fame during the civilian government era.’
Joo Young-mi later became a spokeswoman for the Blue House and a three-time member of the National Assembly, a formidable figure in politics. Despite numerous controversies, her innate fighting spirit eventually led her to become the ruling party leader. But looking at the still-novice Joo Young-mi, he felt deeply nostalgic.
Sensing Lee Chang-jin’s gaze, she smiled gently.
“Um… Is there something on my face?”
“No, ha ha. It’s just that this is my first time being interviewed by the media, so I’m a bit nervous.”
At his words, the reporter smiled softly.
“Don’t worry. I’ll write a good piece. I can’t write badly about someone this handsome. By the way, the suit looks fantastic on you. You’ll look great on camera.”
After exchanging formal greetings with him, Joo Young-mi sat on the sofa in the reception room, holding a notebook.
With a warm cup of coffee in front of him, Lee Chang-jin prepared for the interview.
“Feel free to ask whatever you want.”
Reporter Joo Young-mi seemed to be quite meticulous. She asked detailed questions about the company’s founding reason, why he chose the machinery industry, and the difficulties in running the company.
Seeing her enthusiastic demeanor, Lee Chang-jin thought that promising talents indeed stood out in unique ways.
“This is the last question. What kind of businessman do you want to become in the future, Lee Chang-jin?”
“I want to become a top-tier businessman. Not just top-tier in Korea, but a leading global company is my dream.”
“That’s a great ambition. The job market is tough these days. Could you say a few words to the young people out there?”
“If you want to be the best, join us at Daese Industries. Talent is the future. That’s our motto at Daese Industries.”
Clap clap clap!
After the interview, Joo Young-mi clapped her hands.
Even the discerning Joo Young-mi was impressed by Lee Chang-jin’s answers, which were flawless.
“Thank you for the interview. You were very well-prepared. Most first-timers in front of a camera can’t even speak, but you had no awkward moments. Thank you for the good interview.”
“No, it was thanks to you, Reporter Joo, for making it comfortable.”
“The article will be published once edited. You have such good features; the photos will turn out great. You can look forward to it.”
A few days later, an article titled ‘The Rise of Small and Medium Enterprises’ filled an entire page of a daily newspaper.
Seong Yo-han, reading the article, exclaimed in admiration.
“Wow, boss. You look amazing. The suit is like wings.”
“Stop flattering. It’s just because the original looks good. You could be a real model.”
Gyeongun Daily seemed to have made a concerted effort, as they published a special feature on Lee Chang-jin.
The image of Lee Chang-jin, who appeared on the cover of Monthly Gyeongun, looked like a handsome movie star.
“Seon-ah must have worked hard. We should seize this opportunity. Launch a massive recruitment ad.”
Reading the recruitment ad, engineering graduates also started to take interest.
“Overseas training opportunity? But what is a forklift?”
“It’s a type of construction equipment. A heavy machinery company. But overseas training sounds like a great opportunity, doesn’t it?”
“What kind of company is Daese Industries? Isn’t Clark a well-known company even in the US?”
“They said it’s a company that recently partnered with Cheongwoo and Anyang Steel. It’s a startup but has a very good reputation. They say it ranked second in crane orders this quarter, following Mido. My friend is also applying there. They say the employee welfare and pay are comparable to big companies.”
“Really? This is worth considering.”
Anyang Steel and Clark were companies that anyone interested in the engineering or machinery field would know. With Daese Industries, a new company, appearing in newspapers and economic magazines, naturally, interest grew.
Time passed, and the day for receiving applications finally arrived.
- To be continued in Episode 52 -
