13: Chapter 13 Slide

The next two weeks were tough.

The data looked worse by the day. Sales of fire chicken noodles dropped from over two hundred packs a day to a hundred and fifty. The river snail rice noodles fared even worse, falling from over a hundred packs to seventy. The self-heating hot pots, which already had lower sales, couldn't even maintain fifty boxes, dwindling to about thirty. The online store's monthly sales revenue plummeted from twenty million won to fifteen million.

On the offline front, Kim Dong-xu returned from a round of visiting shops with a grim expression. Several shop owners had explicitly stated they wanted to reduce their order volumes.

“President Wang, the convenience store in Dongdaemun said our fire chicken noodles haven't been moving lately,” Kim Dong-xu said in a low voice as he stood before the office desk. “The owner asked around, and customers said the spicy chicken noodles at the shop next door are cheaper and taste about the same.”

Chairman Wang Shunyi frowned and looked up at him. “Are there others?”

“Yes,” Kim Dong-xu nodded. “Several in Seongdong-gu. There are CU or GS25 stores nearby, and they're all selling canhe spicy chicken noodles.”

Chairman Wang Shunyi remained silent.

The distribution advantage of Canhe Foods was finally showing its teeth. Their products were in large convenience store chains found on every street corner, and their prices were lower. Why would ordinary people, who could conveniently pick up a pack for fifteen hundred won at a convenience store, go out of their way to find a small shop and spend two thousand won on his fire chicken noodles?

“What about the night market?” he asked.

“The night market is still doing okay,” Kim Dong-xu replied. “Most customers there come specifically for your stall; they recognize your brand. Plus, with your live tastings and hawking, the effect is still there.”

Chairman Wang Shunyi nodded. The night market was his last line of defense, but if things continued like this, it would be overrun sooner or later.

At three in the afternoon, he gathered everyone. Zhang Junhao, Kim Dong-xu, person, and Lee Soo-yeon—not a single person was missing.

The projector was turned on, and two line graphs were displayed starkly on the wall, their downward trends painfully obvious.

“You've all seen the situation.” Chairman Wang Shunyi leaned against the edge of the table, his tone relatively calm. “Canhe has copied our products and entered large supermarkets and convenience stores. They're cheaper than us and have wider distribution. If we don't take action, things will only get harder.”

The meeting room fell silent for a few seconds.

Zhang Junhao spoke first. “We have a few things in the works right now. The comparison review video has been released, and the response is decent. We're also pushing topics on social media. But I'm afraid that alone won't be enough to hold the line.”

“I suggest increasing our marketing investment,” Lee Soo-yeon cut in quickly. “Find some truly influential internet celebrities, or even celebrity endorsements, to boost brand awareness. We can also run ads on platforms like YouTube and TikTok.”

“Endorsements and ads cost quite a bit, don't they?” Chairman Wang Shunyi looked at her. “Do we have enough in the accounts?”

Zhang Junhao opened his laptop to check. “We have about twenty-five million won in liquid cash. We can manage to put five million into marketing, but the plan to build the factory would have to be pushed back.”

Chairman Wang Shunyi pondered for a moment. “Let's put the factory on hold for now. The most important thing is to protect our market share. If we can't even hold onto this little bit of foundation, building a factory would be pointless.”

“So, what's the specific plan?” person asked.

Chairman Wang Shunyi glanced at everyone and said, “I have an idea. Let's start a 'Spiciness Challenge' for viral marketing. Have netizens film videos of themselves eating fire chicken noodles. We'll give big prizes to whoever is the spiciest, funniest, or most exaggerated. The cost is low, but it's easy to spread.”

“That's a good one.” Lee Soo-yeon's eyes lit up. “Challenges are very popular on short-video platforms. If done well, it could really explode.”

“Right, it's settled then,” Chairman Wang Shunyi nodded. “Soo-yeon, you'll do the planning and come up with a detailed proposal. Keep the budget within three million won.”

“Understood.”

“Also,” Chairman Wang Shunyi changed the subject, “everyone should think about why Canhe's spicy chicken noodles are able to steal our customers. Is it just because they're cheap? Or are they doing something else well too?”

“I bought a few packs to try,” Zhang Junhao said. “To be honest, the taste is okay. It doesn't beat our fire chicken noodles, but for average consumers, the difference isn't that big. Plus, their packaging is professional and their marketing is aggressive; they look like a proper large-scale manufacturer.”

“Exactly,” Chairman Wang Shunyi said. “Our product quality is better than theirs, but we're lagging far behind in brand image and distribution. When consumers see a decent-looking brand in a convenience store at a cheaper price, of course they'll choose it.”

“Then what should we do?” Kim Dong-xu asked.

Chairman Wang Shunyi was silent for a while before saying, “In the short term, we can only rely on quality and word-of-mouth to hold our ground. In the long term, we must build up our brand and distribution channels. That requires money and resources.”

“Where will the money come from?” Zhang Junhao asked.

Chairman Wang Shunyi thought for a moment. “I have an idea I'm still mulling over.”

“What kind of idea?”

“Financing,” he said. “Finding investors, giving up a portion of shares in exchange for capital and resources.”

The meeting room went quiet again.

Financing meant handing over a portion of control. For Chairman Wang Shunyi, this wasn't an easy decision. But to survive this war, it might be a necessary step.

That night, Chairman Wang Shunyi sat alone in his office, looking out at the night view of Seoul.

His phone lit up with a text from his mother.

“Sunyi, how have you been lately? Is work going well?”

He stared at the screen for a moment before typing a reply: “It's okay, just a bit busy. Mom, how are you and Dad doing?”

“We're both fine. Your father mentioned you the other day, saying it hasn't been easy for you.”

Chairman Wang Shunyi gave a bitter smile. He couldn't tell if his father's comment about it “not being easy” was out of concern or sarcasm.

Just as he was about to put his phone down, it rang again. An unknown number.

He answered: “Hello?”

“Is this Mr. Chairman Wang Shunyi?” The voice on the other end was female and professional.

“Speaking. Who is this?”

“I am Han Xiuzhen, an investment manager at Seoul Venture Capital,” she said. “Our company has recently noticed your brand, 'La Ziyou,' and its excellent performance in the market. We would like to schedule a meeting to discuss potential investment.”

Chairman Wang Shunyi was stunned for a moment.

Venture capital? Just as he was worrying about money, someone had reached out to him.

Was this a coincidence, or an opportunity from the heavens?

“May I ask how you heard about us?” he asked.

“We have been keeping an eye on startup projects in Korea,” Han Xiuzhen said. “Your fire chicken noodles and river snail rice noodles have quite an influence among young consumers, and there's a high level of discussion on social media. We believe it's a brand with great potential.”

Chairman Wang Shunyi thought for a moment. “Alright, let's meet. When would be convenient for you?”

“Would Wednesday at three in the afternoon work for you? Our company is located in Gangnam District.”

“Fine, see you on Wednesday.”

After hanging up, he leaned back in his chair and let out a long breath.

Perhaps, this was a turning point.