Five years ago, there was an incident in the U.S. where a parked car exploded and was completely destroyed.
Eunsung Motors retrieved the vehicle and conducted an investigation, revealing that the airbag was the cause. Ammonium nitrate deteriorated due to high humidity and caused the explosion.
At that time, Eunsung Motors first recognized the defect in the PAS airbag.
Experts within the company asserted that the safety of ammonium nitrate was not fully proven and argued that the airbag supplier should be changed.
If it had been another company instead of PAS, they might have done so.
However, Eunsung Motors was growing with various government benefits and could not change the supplier under these circumstances.
Initially, they covered up the incident by paying a large compensation. However, accidents continued to occur afterward.
It was common for airbags to deploy in minor collisions, and a more serious issue arose when they exploded with excessive force, sending metal or plastic fragments flying. In fact, a driver in Australia died after being pierced in the neck by metal fragments during airbag deployment.
Fortunately for Eunsung Motors, the incident did not become a major issue as the driver had already sustained a life-threatening impact.
According to Eunsung Motors’ internal investigation, the defective products were extremely few and primarily involved vehicles operating for a long time in hot and humid regions.
Han Min-goo urgently stated, “If a defect is found and a recall is initiated, it will escalate beyond control.”
“Re, recall?”
In politics, a faction primarily consists of groups sharing similar political beliefs. However, the faction known as the pro-Park group was more akin to an interest group gathered by mutual interests than a true political organization.
When money and power disappear, how many will remain loyal to him until the end?
PAS was the most reliable shield to protect him when he left the presidency. However, if things went wrong, that shield could shatter.
Park Si-hyeong felt a shock that made his head spin.
This was far more serious than the Hoseong Savings Bank incident. While that merely concerned the morals of the regime, this was a matter related to survival.
“How likely do you think it is to discover a defect?”
“It won’t be easy. But the opponent is strong post-quake.”
“……”
That word was enough.
Has he ever failed at anything he touched until now?
I don’t know how he figured it out, but if he is conducting collision tests, he must have some level of certainty.
The next words were even more shocking.
[The U.S. NHTSA (National Highway Traffic Safety Administration) is also closely monitoring this experiment.]
Due to the Big One, global car sales have significantly decreased. Eunsung Motors’ sales plummeted nearly 20 percent compared to the same period last year, and other automakers experienced similar declines. The situation at their U.S. branch was particularly dire.
But what if a recall is necessary due to safety issues in this situation?
Recall costs are a problem, but sales would drop even further than they already have. There would also be the fallout of corporate image damage and potential consumer class-action lawsuits.
[We must prevent the aftermath.]
Park Si-hyeong almost asked, “How?”
Should they conduct another raid and fabricate absurd charges to take someone into custody?
Doing so now would provoke the White House and American public opinion. Moreover, it’s questionable whether the police and prosecutors would even follow such orders.
After all, the president, as the head of the executive branch, isn’t in a position to dictate who should be arrested.
The mere fact that such orders had been given up to now was absurd.
“Uh, what should I do?”
***
I kept receiving reports about the collision experiment situation.
[It may be somewhat easier to trigger than other companies, but there are no major issues in a typical scenario.]
Professor Park Pil-hyun sounded excited, perhaps because he finally got to conduct the experiment he wanted.
Each collision experiment cost over $100,000. Such opportunities are rare.
So as soon as I proposed it, Professor Park packed his bags and headed to Detroit. Not only that, but students who wanted to observe the experiment and tour CarOS also joined him. Of course, I covered all the expenses.
The automotive engineering department at Korea University is among the top three in the country, and most graduates secure research positions in automotive-related companies.
Who knows? Some of them might end up working at CarOS in the future.
[This time, we plan to increase the humidity for the experiment.]
“Thank you for your hard work.”
[Haha, hard work is nothing. I’ll report the results as soon as they come out.]
“Understood.”
I hung up the phone and reviewed the materials sent from CarOS. They had categorized the items related to airbags in the Eunsung Motors accidents.
As I was engrossed in reading the materials, my phone rang.
It was an unfamiliar number. Who could it be?
As soon as I pressed the call button, a woman’s voice came through.
[Hello, customer. I’m contacting you about a great insurance product because when you go to the hospital for an illness, the medical expenses might become…]
“It’s not a burden.”
I said that and hung up the phone.
How did they get this number? Could it be that Chairman Im Jin-yong also receives such calls?
Just as I thought that, I actually received a call from Chairman Im. On a whim, I asked him.
“Do you sometimes receive phone calls about insurance consultations?”
“Of course. I received a call earlier saying they could lend me up to 30 million won without collateral. Sometimes, I also get voice phishing calls. Someone claiming to be an investigator from the Prosecutor’s Office’s Cyber Crime Team told me I was registered under a suspicious account and insisted I transfer all my funds to a specified account. When I said my balance was 32 billion, they got angry and told me not to joke around.”
I burst out laughing.
“Haha, I can see how that sounded like a joke.”
Chairman Im Jin-yong got to the point.
[Suddenly collision tests? What do you plan to do this time?]
“Has the rumor spread this far already?”
[By now, I doubt there’s anyone who doesn’t know. Today alone, Eunsung Motors’ market cap evaporated by 3 trillion won.]
As always, the quickest to react is the financial sector.
As news of our collision tests broke, foreign and institutional investors started selling Eunsung Motors as soon as the market opened. Meanwhile, securities analysts were diligently writing and posting ‘Eunsung Motors Buy Recommendations.’
Seeing this, it’s as if our country’s securities firms are angels.
To ensure individuals can buy such good stocks, they are selling off themselves.
I summarized the situation for him.
“We suspect there’s a defect in the airbags supplied by PAS. We plan to uncover that through the collision test and request a recall.”
Chairman Im Jin-yong jokingly replied.
[Hmm, recalling? That brings back bad memories.]
I also replied in jest.
“That’s strange. I recall good memories.”
[Haha, to be honest, I don’t mention it, but even now, I break into a cold sweat thinking about it.]
“But you handled it well.”
How will Eunsung Motors handle this situation?
Chairman Im Jin-yong cautiously asked.
[Is it out of resentment?]
“Well, that might not be entirely wrong.”
Both Park Si-hyeong and Eunsung Motors have a bad connection.
Eunsung Motors ruined my family, and as a result, my father passed away. While the former is direct, the latter is indirect.
And regarding Park Si-hyeong… I’ll skip further details.
[Automobiles are a key export item and a major industry that generates employment. Even if there are issues, the Ministry of Land, Infrastructure, and Transport will find it hard to issue a recall order easily.]
It’s not just Park Si-hyeong who is reluctant to issue recall orders; previous administrations have been the same.
This brings us to the so-called “miraculous logic of Eunsung Motors.”
When domestic consumers protest against discrimination for local cars, the response is, “We use the same parts for both exports and imports.”
But when a recall is initiated overseas and domestic consumers request a recall, the response suddenly changes to, “There are a few differences between exports and imports, so Korea does not qualify for a recall.”
The relevant agency, the Ministry of Land, Infrastructure, and Transport, always stands back with folded arms.
“But if it were the U.S. National Highway Traffic Safety Administration, the story would be different. If a recall is executed in the U.S., it would be hard to avoid the repercussions here, wouldn’t it?”
In reality, even if the vehicle models are the same, there can be slight variations depending on the country’s climate, terrain, and living environment.
For instance, in regions with heavy snowfall, snow tires might be standard equipment, while coastal areas might have an additional coat of rust-preventive paint.
However, airbags are completely identical products.
A recall isn’t issued simply when defects are found in every product.
In the case of the L6, out of millions, only about a hundred had actual problems. Yet, because of that very small number, a total recall occurred, after which it was discontinued.
Other automobile manufacturers are watching this situation with great interest. If a competitor’s defect is discovered, they can sit back and let it unfold.
[You really intend to take down PAS, then.]
“That’s up to PAS, not me. If they had made the airbags correctly, there shouldn’t be a recall, right?”
[Park Si-hyeong engaged in various national projects, including resource diplomacy, and siphoned money into overseas accounts. However, that money cannot be used until laundering is complete. The only domestic funding source is PAS; if problems arise, those who remained silent while receiving money may betray him.]
“Looks like we’ll have a lot of interesting developments ahead.”
[We should also prepare. As I mentioned before, the Seosung Group is somewhat involved. Thanks to your junior, I’m glad to know in advance.]
The issue of collusion is not free from the Seosung Group either. However, with a new chairman, there may be many escape routes.
After the call ended, I looked out the window. Tehran street was still bustling with cars. Even if the proportion of foreign cars is high in Gangnam, more than half of them are Eunsung cars.
How much market share will CarOS capture when it launches a new vehicle?
Lost in thought, my phone rang again. It seems I’m getting a lot of calls today. This time, it was an unknown number.
I pressed the call button.
“I don’t need any insurance or loans.”
Then the other party said.
[Hello, this is CEO Kang Jin-hoo.]
“Who is this?”
[This is Han Min-goo.]
I recalled the silver-haired elder I met briefly at a meeting hosted by President Ronald.
“Hello.”
Chairman Han Min-goo said to me.
[If it’s alright, could we meet for a moment?]
***
I entered a Japanese restaurant near Gwanghwamun.
As if it was pre-arranged, the staff guided me to the innermost room as soon as they saw me. The interior was narrow with a long corridor, resembling a hidden chamber.
Upon opening the sliding door and stepping inside, Chairman Han Min-goo was already seated.
He stood up and reached out his hand.
“Nice to meet you, Representative Kang Jin-hoo. It’s been a while.”
“Yes, it has been a long time.”
This was our first meeting since the advisory meeting. A lot had happened in the meantime.
Though he was nearing 80, he still looked vigorous, which is likely why he remains active in management.
“What was the reason for calling me?”
Chairman Han Min-goo smiled.
“Well, what business could there be? I just wanted to meet with you and have a chat.”
Chairman Han Min-goo, a second-generation executive, is almost a living witness to the rise of Korea’s automotive and industrial sectors.
I sat down. I wondered what my father would have thought if he had seen me face-to-face with Chairman Han.
“My father respected you greatly. He always said that without you, Eunsung Motors wouldn’t have become a global company, and we should be thankful that our family’s livelihood depends on Eunsung Motors.”
Chairman Han Min-goo nodded calmly.
“I see.”
At that moment, I sensed someone approaching outside.
“One more person is coming. I apologize for not mentioning it earlier.”
The person who entered the room was an elderly man wearing a suit and glasses. He had a somewhat thin physique, a wrinkled face, thin lips, and a pointed chin.
He looked at me and said warmly, “It’s our first time meeting like this. Nice to meet you.”
Honestly, it wasn’t that pleasant.
“I have seen his face countless times on TV during this time. He has probably seen my face on TV to the point of being sick of it.
Although we’ve had a long-standing bad relationship, this is the first time meeting face to face.
‘Hello.’
I shook hands with President Park Si-hyeong. Perhaps it was just my feeling, but his hand felt cold.
As soon as Park Si-hyeong sat down, he immediately picked up his chopsticks and ate a piece of sashimi. Then, trying to act friendly, he said,
‘Let’s talk while we eat first. The sea bream here is excellent. It’s hard to find sashimi of this quality even at the Blue House.’
I smiled and shook my head.
‘I’m fine. There’s a saying that you shouldn’t make an enemy drink a glass of water or offer a piece of bread.'”
