63: Chapter 63 The Expedition (Part 1)

"Let's go together," Chairman Wang Shunyi looked at her. "We can stop by Hongdae, see our old workplace, and fish for some inspiration."

"Okay," Park Min-ji said.

Hongdae was still packed with people, tourists from all over the world coming here to check in, speaking different languages.

Chairman Wang Shunyi and Park Min-ji walked into a shop they used to frequent years ago.

Park Min-ji put down her bowl and wiped her mouth. The army stew was still bubbling, with only broth left in the pot.

Three years. This old place still tasted the same, and even the proprietress hadn't changed. Chairman Wang Shunyi paid the bill, and the two walked out of the restaurant. The night wind in Seoul was biting cold.

"President, are you serious about the plans you just mentioned?" She stuffed her hands into her coat pockets, walking at a leisurely pace.

"When have I ever said anything I wasn't serious about?"

"The Singapore headquarters, the Chinese market, and competing with Nongshim for the top spot. Pushing in all three directions at once, isn't it too fast?"

Chairman Wang Shunyi didn't answer. They walked side by side past the Hongdae intersection. There was a fish cake stall on the street, steam rising up, illuminated orange by the streetlights.

"It's fast. But if we aren't fast, we won't catch up." He stopped at the red light and turned to look at her. "Nongshim isn't a competitor that stands still. They are expanding in Southeast Asia and investing in China. If we are one step slower, they will occupy more ground."

The light turned green, and she took the first step. He followed behind, half a step away.

In mid-January, Zhang Junhao flew to Singapore. Before he left, Chairman Wang Shunyi treated him to a meal of grilled pork belly. Kim Tae-min had booked a table at an old shop in Jongno District that was so popular there was a queue. Zhang Junhao picked up a piece of pork belly, dipped it in sauce, wrapped it in lettuce, stuffed it into his mouth, and chewed for a long time.

"President, after I go to Singapore, who will handle things here in Korea?"

"Jun-ho, if you can sell our noodles well in Southeast Asia, that will be the biggest help to me."

"It's hot over there; I'm afraid I won't be able to stand it."

"You have to stand it even if you can't. We haven't hired anyone there yet, so you'll have to hold the fort for now. Once we hire someone, you can come back if you want."

Zhang Junhao finished the lettuce wrap and downed a shot of soju. "Fine. I'll go."

In early February, the weather in Singapore was over 30 degrees. Zhang Junhao, wearing a short-sleeved shirt, stood in front of an office building in Chinatown, grinned at his phone camera, and took a selfie to send to the group chat—he was tanned, and standing next to him were two local employees, one male and one female, both wearing white shirts and smiling standard smiles.

Park Min-ji replied with a "Congratulations" in the group chat. Chairman Wang Shunyi didn't reply, but he saved the photo.

He called Zhang Junhao. "Did you hire anyone?"

"I hired two. One for marketing, one for logistics. Both are locals, good at English and Mandarin."

"Is that enough?"

"Not enough. I need to hire two more, one for supply chain and one for finance. Hiring here is expensive; a fresh graduate expects four thousand Singapore dollars."

"Spend the money where it's needed."

On the day the Singapore headquarters opened, there was no ceremony. Zhang Junhao put up a Shunyi Foods poster in the office, pinned a copy of the business license on the wall, and that was it. He called Chairman Wang Shunyi and said, "President, that counts as established."

"Good."

In late February, Nongshim Foods held a press conference in Seoul. Park Jung-chul, wearing a dark blue suit, stood on stage and announced the launch of six new products—functional series, plant-based series, and premium series, almost identical to Sunyi's product line. A reporter asked him, "Are you following the trend set by Sunyi?" He smiled and said, "Nongshim has always been the industry leader."

Zhang Junhao called from Singapore, his tone not very good. "President, Nongshim is playing for real this time. Their functional products are priced ten percent lower than ours, and their channels are more extensive than ours. I've even seen the news here in Singapore."

"You don't need to worry about Korea. Just manage Singapore."

"Then what are you planning to do?"

"Nothing special," Chairman Wang Shunyi said over the phone. "They release six, we release two. But they will be two products not yet on the market."

In early March, Lee Chang-ho knocked on the R&D kitchen door. He brought out a bowl of noodles and placed it in front of Chairman Wang Shunyi. The noodles were pale yellow, with a layer of fine black and white granules floating on top.

"President, dual truffle noodles. Black truffle and white truffle, imported from Italy. One pack of noodles uses two types of truffle oil. The cost is high, but the flavor profile is much richer than single truffle."

Chairman Wang Shunyi picked up his chopsticks and took a bite. The broth was rich, the aroma of truffles rushing from his nasal cavity to the top of his head, and the noodles were chewy and elastic. He took another sip of the soup and put the bowl down.

"What about the pricing?"

"The cost alone is 3,500. With packaging, logistics, and marketing, we have to sell it for at least 8,000."

Chairman Wang Shunyi thought for a moment. "8,000 it is. There are no similar products on the market, so it doesn't matter if it's a bit expensive. The packaging should be black and gold; it needs to look expensive."

The other product was a functional combo—probiotics plus collagen. Lee Chang-ho incorporated both into a bowl of noodles; it wasn't technically difficult, but the hard part was making consumers believe it was actually useful. Kim Soo-jin suggested printing "Jointly Developed by the Korea Food Research Institute" on the packaging. Chairman Wang Shunyi went to talk to the institute, and they asked for a sponsorship fee of 300 million won, which he approved.

On the day the dual truffle noodles were launched, many Seoul media outlets came. Chairman Wang Shunyi didn't go to the press conference, letting Kim Soo-jin host it. Kim Soo-jin stood on stage in a white suit, with a magnified bowl of dual truffle noodles on the screen behind her; the black and white granules on the noodles were as clear as a work of art. At the end of the conference, she said, "Luxury is not about price; it's about the experience," which reporters included in their headlines. The next day, it was the number one trending search on NAVER.

The probiotic collagen noodles followed closely, priced at 5,000, 1,000 more than Nongshim's similar product, but they sold better than Nongshim's. Because of the words "Jointly Developed by the Korea Food Research Institute" printed on the packaging, consumers found it credible. Choi Jae-won called and said, "President Wang, that's a good idea." Chairman Wang Shunyi said, "The idea wasn't mine; it was Kim Soo-jin's." Choi Jae-won said, "Then give her a raise."

On the stock price trend chart in June, the curve for Shunyi Foods was heading upwards to the right. Before the board meeting, Park Min-ji delivered the semi-annual financial report to Chairman Wang Shunyi's desk—total revenue of 650 billion, net profit of 45 billion. She drew a line under the numbers with a red pen and added a note: "The growth rate has exceeded Nongshim's for three consecutive quarters."

"President, one more thing. The report Zhang Junhao sent back from Singapore says that the monthly sales of the Singapore headquarters have exceeded 15 million Singapore dollars. Adding up the five countries in Southeast Asia, the share of overseas revenue has exceeded 30 percent for the first time."

"Does he have enough staff over there?"

"He says yes. But he's asking for a raise."

Chairman Wang Shunyi smiled. "Tell him a raise is possible, but he has to increase the monthly sales in Malaysia from this number to that number." He wrote a set of numbers on a memo and handed it to Park Min-ji. She raised her eyebrows after looking at it, didn't say it was impossible, and only said, "I'll pass it on to him."

When the third-quarter financial report came out, the market share of the Sunyi, Samyang, and Kims alliance reached 28 percent, narrowing the gap with Nongshim to 22 percent. Chairman Wang Shunyi stood in the conference room, with a steep upward curve drawn on the whiteboard behind him. He pointed to the lowest point of the curve; that was more than three years ago.

"Everyone, three years ago, Sunyi was not on this list. Now, we are second. But second place is always a foil to the first. I don't want to be a foil."

Zhang Junhao connected from Singapore; outside the window behind him were the Supertrees at Gardens by the Bay, glittering with lights. He said, "President, you don't need to worry about things here in Southeast Asia. Focus on fighting Nongshim. Once you take them down, we'll hold a victory banquet for you here."

Someone in the conference room laughed. Chairman Wang Shunyi didn't laugh, but the corners of his mouth twitched. He had known Zhang Junhao for nearly four years, and this man had never said anything so sentimental.