Softbank CEO`s `Orient Express`

Softbank Corp. Chairman Masayoshi Son, a third-generation Korean Japanese, is the most successful Korean Japanese in Japan. Forbes magazine said in its April issue that he is the richest man in that country with assets of 8.1 billion U.S. dollars. In 2000, the magazine selected him “Businessman of the Year.” Both Time and Newsweek magazines named him “Asian of the Year” in 1999.

Setting up Softbank at age 24 in 1981, he fostered the company with out-of-the-box thinking and an unusual management style not in sync with common sense and order typical in Japanese business. When Japanese mobile service providers were reluctant to introduce Apple’s iPhone, he gained exclusive rights to the iPhone. Yahoo! Japan, whose largest shareholder is Softbank, adopted the search engine Google, its biggest competitor. When a massive earthquake hit eastern Japan in March this year, he contacted KT (Korea Telecom) Chairman Lee Suk-chae and agreed on setting up a joint venture.

“I will increase the number of companies across the world that Softbank directly invests in from 800 to 5,000 in 30 years,” Son said at an event celebrating the 30th anniversary of his company in Seoul Monday. He also said he launched an “Orient Express Project” that supports Asian Internet venture companies in Korea, Japan and China, hoping for business expansion. This unveils his vision of not resting on his laurels over the past 30 years and seeking to take on new challenges. Softbank has two subsidiaries in Korea, including Softbank Ventures Korea. It has invested 300 billion won (276.1 million dollars) in 127 Korean venture companies through its subsidiaries. The 127 companies are not included in the 800 companies that Softbank makes direct investment in.

Son said, “I was born, brought up, and educated in Japan but my parents are Koreans. From age 16, I studied in the United States and one of my ancestors lived in China. For such reasons, I think a lot about my identity.” Though his nationality is Japanese and he is Korean by blood, he has lived as a global person. The world can expect greater achievements from his new ventures. Looking back on how he has lived, Korean youths can hopefully be more forward-looking through the spirit of adventure and challenge.

Editorial Writer Kwon Sun-hwal (shkwon@donga.com)