Episode 64: The Dye Business
Behind the scenes of the stage, unlike the audience seats, there was a tense atmosphere. The models who had finished their walk came in one by one, and when it was finally Lee Chang-jin’s turn, the person in charge next to him gave some advice.
“Alright, relax, take a deep breath. Just think of it as walking in front of a mannequin. Just take a lap around the runway and come back.”
“Yes, whew… I understand.”
A long path stretched out in front of the dazzling lights. The moment he took a step, all eyes on the stage would be focused on him.
The tension was suffocating; neither the music nor the cheers of the audience reached his ears.
With a white scarf fluttering over his pure white suit, Lee Chang-jin walked down the runway.
Amidst the intersecting gazes, Lee Chang-jin confidently headed to the center.
Although the model had changed suddenly, no one felt awkward about it.
Captivating the audience’s attention, Lee Chang-jin naturally struck a pose. Flashbulbs burst from all directions as he brought his hand to his waist while wearing the white suit.
A fashion industry professional who was watching this scene lit up with interest.
“The model changed suddenly, but who is that guy?”
“I’m not sure. He’s not on the model list.”
“His mask is different, but he has a presence. Put him on the checklist.”
Meanwhile, after taking a lap around the runway, Lee Chang-jin quickly changed into the next outfit and waited for his turn. Although he was a bit awkward at first, Lee Chang-jin gradually gained confidence as he went on stage several times.
A little over ten minutes later, after finishing his final stage, Lee Chang-jin was drenched in sweat on his back and beads of sweat formed on his forehead due to the tension.
When the fashion show ended, Lee Chang-jin, relieved of the tension, slumped into a chair.
The other models also seemed relieved as if the tension had been lifted.
Jin Seon-ah, who had been waiting in advance, took out a handkerchief and gently wiped the sweat off his forehead.
“Chang-jin, you did a great job.”
“Did I make any mistakes?”
“Chang-jin, you were born for the stage. You were amazing and natural.”
At Jin Seon-ah’s compliment, with a thumbs-up, Lee Chang-jin smiled faintly.
Just in time, Kim Bong-su, who had finished the finale greeting, returned backstage.
Smiling, Kim Bong-su expressed his gratitude.
“Thank you, Chang-jin. Thanks to you, we were able to finish the fashion show safely.”
“I’m glad I could help. To be honest, I was really nervous about making a mistake.”
“You were every bit as good as a professional model. The response was fantastic. Some overseas buyers even asked who you were.”
“Haha, you’re too kind. I don’t think I could do it a second time. You need to be really brave to stand in front of an audience.”
“Haha, even professional models get nervous every time they go on stage. Some even bring calming pills. Now, you must be hungry. Let’s go eat. I’ve reserved a spot at a great restaurant.”
The place Kim Bong-su guided them to was a small French restaurant called ‘Poincaré.’ They started with chewy baguettes, soft-boiled eggs with mushroom cream, French onion soup loaded with cheese, and beef bourguignon stewed in wine. As an appetizer, they had foie gras with truffle sauce.
Jin Seon-ah, taking a bite of the elegant foie gras, showed a happy expression.
“Wow, it’s delicious. The food here is great.”
“This is the first time I’ve had foie gras this good.”
The buttery smooth foie gras was savory yet mild.
It had none of the characteristic gamey and greasy taste of foie gras. Seeing Lee Chang-jin’s expression, Kim Bong-su chuckled.
“Haha, it’s a restaurant I frequent. It’s a place only known to those in the know, and it’s hard to come without a reservation. Eat a lot, Chang-jin, since you worked hard today.”
They chatted while having a cozy meal. They asked how each other had been. Listening to Lee Chang-jin’s story, Kim Bong-su showed a surprised expression.
“You started a textile business? How coincidental, are you planning to make ready-to-wear clothes?”
“I’m considering it. Currently, I’m focusing on manufacturing bath products, but I won’t settle for just that. I plan to gradually expand the scope of my business.”
“That’s a great idea. As Korea’s economy develops, the market will shift from custom-made clothes to ready-to-wear, just like in other countries. The global clothing market is also growing at a double-digit rate each year. I hope you become a new wave in the industry, Mr. Lee.”
“I’m still just a beginner. I look forward to your guidance and support.”
“Haha, I’m not that great. Come on, eat more.”
After the meal, dessert was served. The desserts were Mont Blanc with chestnut cream squeezed like noodles on top of meringue and baked cheese soufflé.
The freshly made soufflé had a soft texture and a subtle coffee aroma.
Taking a sip of the coffee that came with the dessert, Kim Bong-su spoke.
“Oh, I almost forgot. If you get the chance, you might want to consider importing dyes.”
“Dyes?”
“Yes, securing high-quality dyes is crucial for those of us in the fashion industry. But finding good dyes in Korea is as difficult as picking stars from the sky.”
Jin Seon-ah, who had been quietly listening, showed interest.
“How significant is the difference between the dyes?”
“Hmm, it’s better to show you an example. Miss Kim, could you bring some samples?”
“Yes, sir.”
One of the staff went out and brought back two pieces of linen. At first glance, they looked the same, but the shades were subtly different.
One was a spotless, pure white, while the other was slightly yellowish, giving a dull impression.
“There’s a clear difference even in the same white color, right?”
“That’s true. The one on the right is closer to ivory than white. Actually, it’s more like cement gray.”
“You got it right. The product on the right is a commonly distributed dye, while the one on the left is a natural dye purchased expensively from abroad. The quality difference is stark, right? And the price difference is a whopping tenfold.”
Lee Chang-jin, surprised, asked again.
“Tenfold, you say?”
“Haha, surprised? The real issue is that there’s only one place in the country importing such dyes.”
“Which place is that?”
“It’s Taeyang Trading. They have a monopoly on importing natural dyes. But they charge exorbitant prices, so there’s a lot of dissatisfaction among designers.”
“Have you considered going through other trading companies?”
“Do you think I haven’t tried? The problem is the quantity. To import dyes, you need to bring in a regular, large quantity. For designers like us, it’s hard to consume that much quantity. So, we reluctantly buy from them.”
Kim Bong-su also mentioned that he once signed a contract in Italy to try to resolve this situation, but the company that received the deposit didn’t deliver the goods on time, and the contract fell through.
After that bitter experience, Kim Bong-su gave up on finding direct import sources.
“If you know of any suitable import sources, please let me know. There are many designers who are thirsty for high-quality dyes. If you offer a reasonable price, finding demand won’t be difficult.”
“Alright, I’ll look into it and get back to you.”
Although there was demand, it was essential to examine the usage before importing in bulk. Lee Chang-jin first sought advice from President Lee Man-soo of Hanseong Textiles.
“Importing dyes?”
“Yes, I heard from Mr. Kim Bong-su that the price of dyes distributed domestically is very high. So I wanted to ask if there’s additional demand.”
“There’s always demand. Actually, we also struggle to find good dyes. As you know, color quality is very important in textiles. But frankly, the quality of locally distributed products is poor. So, we end up mixing in expensive imported products.”
“Is it that difficult to find good quality dyes?”
“Yes, it is. Natural dye concentrates themselves are not imported into Korea.”
“I don’t understand. Why is there such a significant quality difference between imported and locally distributed products?”
Laughing, Lee Man-soo answered.
“Haha, it’s because domestic products mix neutralizing agents into the dyes. It’s a technique called ‘can mixing,’ where they add water and chemical compounds to the concentrate to increase the volume.”
“Does that even dye properly?”
“It does, but the color quality obviously drops. It’s like mixing water into wine to increase the volume. Who would believe that? We can’t even know what else they mix in besides water. The main reason Korean products can’t become top-tier in the global market is because we don’t have access to good dyes. The dye issue is a big reason why Korean products struggle internationally. In terms of finish and material, there’s not much difference from foreign products.”
“Why don’t textile companies collectively secure an import source instead of relying on Taeyang Trading? Isn’t this outright exploitation?”
“Do you think we haven’t thought of that? But importing dyes is more labor-intensive than you think. Moreover, with Taeyang Trading monopolizing the import sources, other companies can’t easily compete. So, Taeyang monopolizes the good dyes and sells low-quality products in the market. If you want better quality dyes, they charge exorbitant prices, making fair competition impossible.”
Hearing Lee Man-soo’s grievances, Lee Chang-jin had a change of heart.
He realized that dye importation could be more economically viable than he initially thought.
The current natural dye market was chronically undersupplied. Almost all dyeing companies were desperate for quality natural dyes.
For Lee Chang-jin, who had built a solid trust relationship with textile companies through his textile machinery repair business, securing a buyer wouldn’t be difficult.
Moreover, with no other import companies besides Taeyang Group, Lee Chang-jin was in a favorable position to enter the natural dye import business.
Upon further investigation, he found that importing dyes required less capital than expected. The dye business involved bringing samples from abroad, giving them to dye wholesalers, and processing orders with advance payments.
Receiving 30% of the order amount as a down payment before purchase and the remaining balance upon the goods’ arrival at the port ensured little risk of payment default.
Running a trading company required only a small team.
A few telephones, an office, and some experienced trade staff would suffice.
However, despite the potential profitability, Lee Chang-jin was not an expert in this field.
Above all, he couldn’t handle everything alone and needed capable hands and feet.
Someone with rich knowledge in textiles and chemicals, as well as strong overseas sales skills. Fortunately, Lee Chang-jin knew the perfect candidate.
- To be continued in Episode 65 -
