[199] One step forward 1
My first step in 2002, when the European Union officially started using the euro, was the HW Automotive Research Institute, which merged the research institutes of Ajin Motors and Sunyang Motors into one.
To see the prototype of the first car that reflected my wishes, I visited early in the morning with Chairman Song Hyeon-chang and CEO Oh Se-hyeon, CEO Dae-ho Cho.
In the exhibition hall of the research center, the head of the design center, designers, and researchers waited for us with nervous expressions.
Not only people, but also a small car with a shiny shine was waiting for us.
M21-1
Mini It even had a name tag with the project name written on it, meaning the first mini car of the 21st century.
The moment I saw the new car, it scored 85 points in my head.
The head of the design center and the two senior researchers clung to the management and started explaining.
I opted for an overall round design. Since it is a compact car, it was a choice to give a sense of stability. However, it is an aggressive design in which the silhouette and character line rise toward the rear. It is a tense and dynamic shape.
By choosing a low position, we pursued the pure driving pleasure of feeling as if we were running close to the road surface.
As such a small and cute car runs unexpectedly thrillingly, I expect that the pleasure from the gap will be great.
I started to look at the car while listening to their explanation.
796cc automatic 4-speed two-seater coupe.
Love at first sight design This was all I was asking for.
However, the car in front of me right now is not enough to fall in love at first sight, but it was enough to hear that it is cute and pretty.
When the interior was thoroughly checked, the explanations of the development team were over and others began to examine the car.
Wouldn’t a convertible version work?
When I asked quietly next to the head researcher, he turned into a puzzled expression.
In order to pass European safety standards, manufacturing cost pressure was unavoidable. It was excluded from the design stage because it did not come out profitable.
I asked several times to make a nice new car without thinking about profitability, but I guess I couldn’t avoid the pressure on the performance that was embedded in my bones. Unfortunately, I only let out a light sigh.
After everyone looked at the car, the development team looked even more nervous.
Now it’s the company’s executives’ turn to evaluate. The moment any negative words come out of their mouths, a nightmare-like time incomparable to what they have suffered so far awaits.
A timeline is set for release in the fall. If the word “overturn and repeat” falls apart today, you will be plagued by a murderous schedule.
Everyone’s eyes were on Chairman Song Hyeon-chang. No matter what anyone says, isn’t it a living proof of the automobile that raised Ajin Motors to the second place in Korea?
He is also a person who has devoted his whole life to developing innovative automobiles. He is also the first person in Korea to go ahead with the launch of a two-seater convertible sports car even at the cost of massive blood loss. Although assembly was everything.
He opened his mouth slowly.
well picked everyone suffered
Chairman Song Hyeon-chang comforted the developers by tapping on the shoulders of the relaxed developers.
Good job everyone. Today, all the development staff should get off work now and see the faces of the family members. You never know what kind of hardships await you from tomorrow.
President Dae-ho Cho spared the evaluation, but he also seemed to acknowledge their efforts.
Now, let’s talk over a cup of tea.
President Cho took us outside, including Chairman Song.
In the reception room in the research center, everyone kept quiet over the teacup in front of them.
In particular, as Chairman Song Hyeon-chang sipped tea without saying anything, President Cho opened his mouth first, perhaps in a hurry.
President. I’d like to hear your honest opinion…
Huh? Are you serious about what you said earlier?
When he threw it indifferently, President Cho could not erase his questionable expression.
Is that so?
How many compact cars are there in Korea? Isn’t that great enough?
Being a 2-seater seems to be a weakness…
Where is a car without a weakness? And a family of four should stay away from compact cars, right? You put your child’s safety first. Compact cars are subcars, but they are for two people anyway.
Chairman Song seemed genuinely satisfied. And he surprised us all with his unexpected words.
Don’t think about my opinion anymore. Aren’t I already the setting sun? He is an old man who should have robbed his seat immediately.
no. Yet…
Chairman Song Hyeon-chang shook his hand to block President Cho’s words.
At the official meeting of the business world, I kept my seat because I had the ability to at least face madam. However, Chairman Dae Hyun-joo passed away and Chairman Jin of Sunyang also resigned as Lee Seon. It’s an undeniable fact that my role is over.
Chairman Song Hyeon-chang suddenly emptied the cup and stood up.
Ignore my opinion and organize your thoughts. i’ll go up first
Chairman of the association.
We were all taken aback by Chairman Song’s sudden action.
are you okay. Sit down and let’s talk. An old man knows when to leave his seat so that he is treated like an adult. I want to be treated like an adult by you guys. haha.
Chairman Song Hyeon-chang left the institute without looking back, moving his steps.
Everyone was surprised by the sudden declaration, but it was impossible to remain idly like this. Those who remain must work.
ruler. Shall we share our opinions honestly?
President Cho looked at Oh Se-hyun first. Oh Se-hyeon, who received his gaze, only shrugged his shoulders.
What do I know? I’m just a normal middle-aged guy who thinks it’s a good car if it’s big and roomy and has plenty of golf bags in the trunk. In the evaluation of compact cars, the opinion of President Cho, who is an expert, is the most important.
Instead of taking one step out, Oh Se-hyun asked for my opinion.
Dojoon, what do you think?
This car is exactly what I wanted. Even if you’re not 100% satisfied, you think that’s enough?
An inexpensive car with good design and reasonable stability?
yes. The car that middle-class parents can buy for their college-aged kids. A car that a beginner in society can maintain enough with a 3-year installment plan. A car that looks a bit sophisticated when you drive it, but doesn’t look like it. These are my thoughts. And that new car fits my thoughts to some extent.
I expressed my opinion at the level that ordinary people think.
How many people buy a car considering its performance? Output power zero-back balance…. Aren’t most commuting and weekend outings rather than enthusiasts who pick their cars picky?
Just look at the car. I am not different from your thoughts.
But you’re thinking of something else.
okay. According to information, a 600cc class minicar is coming out from Daihatsu in Japan. It’s a two-seater convertible.
Daihatsu Copen? did it come out this year?
Even in Korea, it has to compete with such cars abroad. It’s embarrassing, but Korean tea is still cheap. But that new car I just saw is significantly less competitive in price. You can’t start mass production thinking only about the domestic compact car market, can you?
What if we set the HW car’s overall net margin to zero? Will it still be less competitive?
what?
M21-1, right? project name?
okay.
So you can sell the M21-1 at a loss. It’s because it’s profitable in other types of cars. In other words, if we give up the idea of making money and focus only on increasing the number of units produced, will price competitiveness decrease?
CEO Dae-ho Cho paused after thinking for a moment.
Let’s just think about the benefits that follow from the expansion of production scale?
yes. Will you accept my uncle as the majority shareholder? Running a company without profit?
I secretly sent a signal to Oh Se-hyun. He quickly began to chime in.
Does not matter. But keep in mind that the stock price will continue to fall if there is no profit.
This is a mid- to long-term strategy. Isn’t that what we have to support the stock price of automobiles anyway?
Even though Oh Se-hyeon and I agreed, Cho Dae-ho’s expression was still not good.
The indicator of corporate management is the stock price. If the stock price falls, it cannot be considered good management, and the primary responsibility for it must be taken by the CEO.
Even if the majority shareholder, the owner of the company, says there is no problem, isn’t it the shareholders who change their minds quickly when they see the falling stock price?
Mr. Joe.
uh? Yeah…
I have to accurately convey my goal to him who is lost in his thoughts. How about 10 to 20 years to slowly build a proper automobile company?
How big is the gap between us and Daehyun Motors?
It’s 65% based on the number of shipments, but in terms of sales, it’s less than half of Daehyun’s. 49%….
It clearly shows the absence of high-end cars with high profit margins. In the right direction, it is correct to go for a luxurious mid-size sedan rather than producing a pretty compact car.
However, as we have already confessed, our position in the global market is a cheap car. It is unclear whether it will be able to beat Daehyun, let alone Global, if it is set in the direction of a mid-size sedan.
If you give up profits and focus only on narrowing the gap, is that new car not competitive in price?
Are you serious?
yes.
Oh Se-hyeon said to President Cho Dae-ho, who once again confirmed my intentions with an anxious expression.
Mr. Joe. Let’s try it. What if you can’t make money from your car? This guy will make money from Sunyang Financial Group and bring it to us. Let’s set it to a level where employees’ salaries are not delayed, invest in R&D, and increase production lines. Then, isn’t it something that might press Daehyun?
He is also a quick-witted uncle. If you set your goals correctly, you won’t worry unnecessarily.
The major shareholder declared that he would aim for scale rather than surplus. No matter how much the stock price drops, it is no different from the saying that there will be no replacement of management if you take one step towards your goal.
It’s okay if it doesn’t get a better evaluation than the Daihatsu compact car that comes out this year, but can it be at least an alternative to that car next?
no.
Cho shook his head without thinking for a second.
The technical gap with Daehyun is also quite large. What about Japan? no doubt I’ll probably choose the last option. Sorry but that’s where we are.
Harsh self-evaluation pierced my whole body. I asked again in line with reality.
Then, what about the compact car market in Korea?
More than 50% of the compact car market share. this is what i have to do Leave it to me. achieve by next year If you sell at the original price and can’t even reach this level, it’s a sense of hardship as the CEO. I promise to take my place.
This time, he shows great confidence. Seeing this, it’s believable.
Then, please hurry up with the aim of launching a new car in October and releasing it in June.
June? Why is it June? The Frankfurt Motor Show is May and Paris is October. I was thinking of the Paris Motor Show?
As you said, isn’t targeting the domestic market a priority over the global market? The World Cup is held in June. It’s a great chance.
At the mention of the World Cup, not only Cho but even Oh Se-hyeon frowned.
hey! Even if it’s held in Korea, it’s someone else’s party anyway. The qualifying tournament is over, so why the World Cup?
Oh Se-hyun frowned.
I thought it would be different this time? Isn’t there such a thing as home ground advantage? If you get good grades, you will be in a festive mood, and if you jump on the bandwagon, the effect goes without saying.
This is so…
no one will believe it, so there is no way to explain it.
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