Tim Cook, who succeeded Steve Jobs as Apple’s CEO, succeeded in growing the company tremendously. While demonstrating his skills comparable to that of Jobs, he made Apple the number one company by market capitalization.
One of Tim Cook’s secrets to Apple’s growth was its expansion into China. It successfully opened the door to China, the world’s largest market, and laid the foundation for rapid growth.
But Tim Cook 275 billion dollars (about 323 trillion won) in top secret in 2016 for business in China It was revealed that an investment contract had been signed.
The Information, an American IT media, reported on the 7th (local time) that, based on Apple’s internal documents and interviews with officials, Tim Cook promised to invest in the Chinese economy and technology development with Chinese officials in order to conduct business in China in 2016. At the time, The Information reported that Tim Cook had signed an investment plan worth at least $275 billion.
The contract was signed during Tim Cook’s visit to China in 2016, and the contract is said to be for five years. The deal was reportedly led by Apple executives who are concerned about Apple’s poor reputation in the Chinese market and Chinese officials who believe the company is not contributing enough to the Chinese economy.
In May 2016, Tim Cook announced that Apple would invest $1 billion in Chinese ride-hailing company Didi Chuxing to appease China. Afterwards, Tim Cook, Apple’s chief operating officer Jeff Williams, and government affairs officer Lisa Jackson met with senior Chinese government officials.
According to internal documents, Tim Cook lobbied government officials to waive Chinese government sanctions on Apple Pay, iCloud and App Store, and then signed a 1,250-word agreement with China’s National Development and Reform Commission.
The contract includes supporting Chinese manufacturers to develop advanced manufacturing technologies, educating and training Chinese talent, using more parts from Chinese suppliers, using more Chinese software, and investing directly in Chinese universities and Chinese IT companies. contained This contract is automatically extended for an additional year until May 2022, unless otherwise objected.
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According to foreign media reports, this negotiation was an opportunity for Apple to successfully enter the Chinese market by removing the Chinese government’s regulations.
According to The Information, Apple relies heavily on Tim Cook in international negotiations, and he could struggle to deal with the matter if he steps down as CEO.
